Core Insights - The company has made progress in the number of IVF egg retrieval cycles as of September 30, 2025, showing confidence in industry prospects and its own growth due to solid industry fundamentals and national policy support [1] Group 1: IVF Cycle Performance - The overall decline in IVF egg retrieval cycles has slowed, with a decrease of -5.2% from the first three quarters of 2024 to the first three quarters of 2025, compared to a decline of -8.3% from the first half of 2024 to the first half of 2025 [1] - The flagship hospital in Chengdu experienced a reduced decline in IVF egg retrieval cycles, from -6.1% in the first half of 2025 to -1.9% over the nine-month period [1] - The Shenzhen hospital's improvement is slower due to a planned relocation at the end of the year [1] Group 2: Market Conditions - In the U.S. market, the decline in IVF egg retrieval cycles aligns with expectations due to the postponement of California Senate Bill SB729 [1]