Financial Data and Key Metrics Changes - The company reported a net sale of 217 million RMB, representing a 112% increase compared to the previous year [10] - Gross profit increased from 47 million RMB to 117 million RMB, with the gross profit margin rising from 46% to 54% [11] - The company aims to achieve over 1 billion RMB in sales by 2027, potentially earlier [11][35] Business Line Data and Key Metrics Changes - The commercialization of dorzagliotin in China has led to a significant increase in sales volume, with packs sold rising from 646,000 to over 1 million [10] - The sales team has expanded to 100 staff representatives, contributing to the dramatic sales growth [10] Market Data and Key Metrics Changes - The global diabetes drug market is expected to grow to 130 billion USD by 2025, nearly doubling from current levels [3] - The company is focusing on expanding its market presence in Southeast Asia, targeting 700 million people with diabetes [25] Company Strategy and Development Direction - The company is transitioning from an R&D-focused organization to a commercialization-focused entity, optimizing manufacturing processes to reduce costs [11] - Plans to enter the Hong Kong and Macau markets, with a new brand for overseas markets called "myhomesis" [23][25] - The company is developing a fixed-dose combination of dorzagliotin with metformin, expected to enter pivotal clinical studies next year [12] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of addressing glucose homeostasis rather than just lowering blood glucose levels, positioning dorzagliotin as a unique treatment [5][22] - The management expressed confidence in achieving sales targets and operational leverage, with a focus on maintaining low selling expenses [35][54] Other Important Information - The company has built a strong patent portfolio, covering dorzagliotin until 2037, and is exploring opportunities for second-generation products [12][14] - The company is also working on rare disease areas, such as CFRD, in partnership with academic institutions [31][32] Q&A Session Summary Question: Can you reiterate your sales guidance for 2026 and 2027? - Management confirmed the goal of achieving or exceeding 1 billion RMB in sales by 2027, with a focus on increasing sales personnel and market exposure [52][54] Question: What are the expectations for margins in the next two years? - Management indicated that gross profit margins are expected to increase as the cost of goods decreases, with a target of reaching around 27% in the near future [59] Question: How is the company managing operational expenses? - The company is focused on maintaining low variable expenses while increasing sales volume, with a strategy to adjust sales personnel based on performance [56][58]