Core Viewpoint - Tian Shi Li reported a steady performance in Q3 2025, with revenue of 6.311 billion and a net profit of 984 million, marking a year-on-year growth of 16.88%, defying the industry trend of decline [1] Group 1: Financial Performance - The company achieved a revenue of 6.311 billion in the first three quarters, maintaining stability [1] - The net profit attributable to shareholders reached 984 million, reflecting a year-on-year increase of 16.88% [1] - The pharmaceutical industrial revenue was 5.709 billion, showing steady performance [1] - The cardiovascular/metabolic segment generated 3.186 billion, with a slight year-on-year growth of 1.16% [1] Group 2: Product Development - The key product, Pu You Ke, received approval to expand its indication to treat acute ischemic stroke, which is expected to contribute to future performance [3] - The company’s three major basic drug products are performing well, with the compound Danshen dripping pill expanding its indications to diabetic retinopathy, further driving growth [2] - The company has a rich pipeline of 31 innovative drugs in development, including nearly 20 clinical mid-to-late stage products in traditional Chinese medicine and several in the high-attention biopharmaceutical field [3] Group 3: Market Potential - Analysts predict that Pu You Ke could become a billion-dollar product following its new indication approval, with sales potential expected to exceed 1 billion [3] - The company is focusing on three core disease areas and continuously optimizing its R&D pipeline, which is expected to bring incremental contributions [4]