Core Viewpoint - Dongrui Pharmaceutical (02348) reported a mid-year performance for 2025, showing a revenue of approximately 630 million, a year-on-year increase of 9.2%, but a significant decline in net profit attributable to shareholders by 78.79% [1] Financial Performance - Revenue reached approximately 630 million, reflecting a year-on-year growth of 9.2% [1] - Gross profit was about 314 million, representing a year-on-year decrease of 7.1% [1] - Net profit attributable to shareholders was approximately 105 million, down 78.79% year-on-year [1] - Earnings per share stood at 0.06961, with an interim dividend of 0.015 HKD per share [1] Product Performance - Sales volume of the hypertension treatment "An" series decreased by 5.7%, with sales revenue declining by 22.1%, primarily due to price reductions in certain regions influenced by national procurement policies [1] - Sales volume of the antiviral drug Entecavir dispersible tablets increased by 14.0%, with sales revenue growing by 8.7% [1] - The product series focused on treating hyperlipidemia in Fujian saw a sales volume increase of 19.5% and sales revenue growth of 16.6% [1] - Sales volume of cephalosporin powder injection grew by 47.9%, with sales revenue increasing by 55.7% [1] - Sales volume of intermediates and raw materials increased by 244.8%, with sales revenue rising by 142.7%, attributed to the commercialization of the Suzhou Dongrui and Lanzhou Dongrui facilities [1] Challenges - The decline in profit was mainly due to the lack of large-scale commercial production at the Suzhou Dongrui and Lanzhou Dongrui facilities, price reductions of the "An" series products in certain provinces due to national policies, and increased R&D expenses [1]

公告称，本期间溢利下降主要是苏州东瑞善丰路厂区和兰州东瑞未形成规模化的商业化生产、"安"系列 等集采品种受国家政策影响部分省份价格下降以及研发费用增加所致。 其中：治疗高血压的"安"系列产品与去年同期相比销售量减少 5.7%，销售额下降 22.1%， 主要是受国 家集采政策影响部分地区价格下降;抗病毒药恩替卡韦分散片与去年同期相比销售量增长 14.0%，销售 额增长 8.7%;以治疗高血脂症为主的福建东瑞产品系列与去年同期相比销售量增长 19.5%，销售额增长 16.6%;头孢粉针剂与去年同期相比，销售量增长 47.9%，销售额增长 55.7%;随着集团全资附属公司苏州 东瑞制药有限公司(苏州东瑞)善丰路厂区和集团全资附属公司兰州东瑞制药有限公司陆续商业化投产， 中间体及原料药与2024年同期相比销售量增长 244.8%，销售额增长 142.7%。 智通财经APP讯，东瑞制葯(02348)公布2025年中期业绩，收入约6.3亿元，同比增长9.2%;毛利约3.14亿 元，同比减少7.1%;母公司拥有人应占溢利约1.05亿元，同比减少78.79%;每股盈利0.06961元，每股中期 股息0.015港元。 ...

Group 1 - The core point of the article is the resignation of Mr. Li Xianlin from his position as Vice President of China National Pharmaceutical Group Modern (国药现代) due to reaching retirement age, and he will not hold any positions in the company or its subsidiaries after his departure [2]. Group 2 - For the fiscal year 2024, the revenue composition of China National Pharmaceutical Group Modern is as follows: formulations account for 49.84%, intermediates and active pharmaceutical ingredients account for 47.53%, other businesses account for 2.44%, and health-related businesses account for 0.19% [2].