Core Insights - The company held a roadshow in Shenzhen, attracting over 100 institutions, including IDG Capital and Anxin Fund, to discuss its strategy, R&D progress, and market positioning [1] - The company focuses on chronic disease management (CKM) with a commitment to integrity and long-termism, aiming to become a leader in the treatment of CKM syndromes [2] Financial Performance - In the first half of 2025, the company reported a revenue growth of 4.3% year-on-year, with Q2 showing a significant rebound of 12.3%, and new product revenue accounting for over 50% of total revenue [3] - The company maintains a low debt ratio and substantial cash reserves, with R&D investment consistently above 20% of revenue [3] R&D Pipeline - The company has a robust R&D pipeline in hypertension and related CKM diseases, with various drug types including oral small molecules and combination therapies, some of which are in clinical II/III phases [4] - The company is developing innovative drugs for resistant hypertension, including SAL0140 and SAL0120, and has a focus on improving patient compliance through small nucleic acid products [4][5] Market Strategy - The company has six patented drugs in the hypertension and metabolic disease sectors, with four hypertension products forming a differentiated matrix, two of which are in the medical insurance negotiation phase [6] - The company emphasizes academic promotion and patient education while exploring digital chronic disease management models for comprehensive patient lifecycle management [6] Q&A Highlights - During the Q&A session, the company addressed various market concerns, including the focus on clinical research for JK07, the independent operation of its U.S. subsidiary, and the use of AI to enhance R&D efficiency [7]