Core Viewpoint - The company has successfully transitioned its sales team and is experiencing significant sales growth, particularly with its core product, Huatangning, which has shown impressive revenue and volume increases in the first half of 2025 [1][3]. Sales Performance - Huatangning achieved sales revenue of 217 million yuan, a year-on-year increase of 112%, with sales volume reaching 1.764 million boxes, up 108% compared to the previous year [1][3]. - The company reported a non-operating profit loss of 37 million yuan, which represents a reduction of over 70% year-on-year [1]. Profitability and Margins - The gross profit for the first half of 2025 was approximately 118 million yuan, with a gross margin of about 54.2%, an increase of 7.7 percentage points from the previous year's 46.5% [4]. - The improvement in gross margin is attributed to economies of scale from increased production capacity and reduced promotional costs due to the establishment of an in-house sales team [4]. Market Expansion Strategy - The company plans to expand its market presence by focusing on core hospitals and gradually penetrating grassroots markets, having already covered over 2,000 hospitals in China, including more than 800 core hospitals [4]. - The company aims to enter international markets, starting with Hong Kong and then expanding to Southeast Asia and Portuguese-speaking countries, having submitted new drug registration applications in Hong Kong [4]. Future Product Pipeline - The company is developing new formulations, including a fixed-dose combination of Dorzagliatin and Metformin, as well as a second-generation GKA for metabolic diseases, with plans to initiate further clinical studies by late 2025 or early 2026 [5]. - The company has secured over 330 patents, extending protection until 2039, which will support future indication expansions and global commercialization efforts [4][5]. Financial Position - As of June 30, 2025, the company reported cash reserves of 1.023 billion yuan, positioning itself for strategic investments and growth in the diabetes and metabolic disease treatment sectors [5].