Investment Rating - The investment rating for the company is "Buy" (maintained) [5] Core Views - Short-term capacity constraints are leading to performance pressure, but a potential change in major shareholder could open up long-term growth opportunities [5][7] - The company experienced a decline in revenue and net profit in the first half of 2025, but new capacity expansions are expected to drive revenue recovery in the latter half of the year [7] - The expected change in controlling shareholder to China National Pharmaceutical Group is anticipated to enhance the company's growth prospects in the blood products industry [7] Financial Summary - Revenue projections for 2023 to 2027 are as follows: 2,329 million in 2023, 2,655 million in 2024, 2,794 million in 2025E, 3,219 million in 2026E, and 3,644 million in 2027E, with growth rates of -3.18%, 14.00%, 5.25%, 15.22%, and 13.21% respectively [6] - Net profit forecasts for the same period are: 612 million in 2023, 745 million in 2024, 732 million in 2025E, 821 million in 2026E, and 911 million in 2027E, with growth rates of 4.25%, 21.76%, -1.82%, 12.19%, and 11.01% respectively [6] - The company's earnings per share (EPS) are projected to be 0.64 in 2023, 0.78 in 2024, 0.77 in 2025E, 0.86 in 2026E, and 0.96 in 2027E [6] Market Performance - As of August 26, 2025, the closing price of the company's stock is 18.24 yuan, with a total market capitalization of 17,335.25 million yuan [3]