Core Viewpoint - The company reported a 15% year-on-year increase in revenue for Q3 2025, driven by high-margin businesses such as its proprietary brands and first-push products, which saw transaction growth of 120% and over 350% respectively in October, enhancing customer loyalty and improving overall gross margin structure [1][2]. Group 1: Company Performance - The rapid growth in performance is attributed to the company's "upward" strategy, focusing on supply chain enhancement and product structure optimization, which includes strengthening strategic partnerships with upstream pharmaceutical companies and building a smart supply chain system [2]. - The proprietary brand business has shown significant growth, with sales scale increasing rapidly, contributing positively to the company's profitability and improving the overall gross margin structure [2][3]. - The company has maintained a double-digit revenue growth rate in a challenging domestic pharmaceutical retail environment, outperforming the growth rate from the first half of 2025 compared to the same period in 2024 [1]. Group 2: Industry Context - The pharmaceutical retail industry is currently undergoing a deep adjustment and transformation, facing challenges such as rising compliance costs and accelerated market clearing, impacting both upstream pharmaceutical companies and downstream retail pharmacies [1]. - The fourth quarter is traditionally a peak season for pharmaceutical sales, with expectations that companies' performance in Q3 and the second half of the year will exceed previous conservative forecasts, particularly due to a significant increase in flu activity compared to the previous year [3]. - The overall business growth and rapid development of high-value-added services validate the company's strategic shift from scale growth to quality growth, with upstream supply chain advantages and product differentiation becoming key to sustained performance [2].