Core Viewpoint - 康为世纪 reported a revenue of 87.12 million yuan for the first half of the year, a year-on-year increase of 29.74%, but faced a net loss of 55.91 million yuan, a decrease of 11.70% compared to the previous year, indicating a "revenue growth without profit increase" situation [1][3]. Financial Performance - Revenue for the first half of the year was 87.12 million yuan, up 29.74% year-on-year [1]. - Net profit attributable to shareholders was -55.91 million yuan, down 11.70% year-on-year [1]. - Basic earnings per share were -0.508 yuan, and diluted earnings per share were -0.507 yuan [3]. - The weighted average return on net assets was -3.90%, and the return on net assets after deducting non-recurring gains and losses was -4.64% [3]. - R&D expenses accounted for 46.84% of revenue, down from 68.53% year-on-year [3]. Business Challenges and Strategies - The decline in net profit is attributed to the new technology service business being in a ramp-up phase, leading to higher operating costs than revenue growth [1][4]. - 康为世纪's core products include molecular detection reagents and diagnostic kits, with a focus on the Helicobacter pylori detection kit as a key growth driver [4][5]. - The company is expanding its technology service sector, including gene sequencing and synthesis services, to improve profitability [6]. Market Potential - The market for Helicobacter pylori detection products is projected to reach a sales peak of 1.5 billion yuan by 2030, driven by the need for antibiotic resistance testing [5]. - 康为世纪 is actively working on expanding distribution channels, including partnerships with hospitals and online platforms, to enhance market penetration [5][6]. Financial Position - As of mid-year, the company's cash reserves were 160 million yuan, down 63.39% from 437 million yuan year-on-year [6]. - Accounts receivable amounted to 59.38 million yuan, representing 47.18% of total revenue, with a growth rate exceeding that of revenue [6][7]. - R&D expenses decreased by 11.32% to 41 million yuan, and the number of R&D personnel reduced from 229 to 148 [7].

Core Viewpoint - Jiangsu Cowin Biotech Co., Ltd. reported a significant increase in revenue for the first half of 2025, with total revenue reaching approximately 87.12 million yuan, a 29.74% increase compared to the same period last year. However, the company also experienced a net loss of approximately 55.91 million yuan, which is an 11.70% increase in losses compared to the previous year [5]. Company Overview - Jiangsu Cowin Biotech Co., Ltd. specializes in molecular detection technology and has over ten years of research and development experience in core technologies related to molecular detection [6]. - The company has developed over 700 core products, including molecular detection raw enzymes, nucleic acid preservation reagents, nucleic acid extraction and purification reagents, and molecular diagnostic kits [6][9]. - The company holds 74 domestic medical device registration or filing certificates and has obtained overseas medical device registrations for 70 products, establishing a comprehensive product system [6]. Financial Performance - For the first half of 2025, the company reported total revenue of 87,118,671.74 yuan, compared to 67,146,615.25 yuan in the same period last year, marking a 29.74% increase [5]. - The total profit for the period was -60,630,052.93 yuan, slightly worse than the -57,766,203.41 yuan reported in the previous year, indicating a 4.96% increase in losses [5]. - The net profit attributable to shareholders was -55,911,138.36 yuan, compared to -50,056,858.08 yuan in the previous year, reflecting an 11.70% increase in losses [5]. Research and Development - The company has established seven technical platforms and 32 core technologies related to molecular detection, and has been granted 33 domestic invention patents and 61 utility model patents [6]. - The company focuses on the research and development of molecular detection raw enzymes, having developed 186 types of enzymes that are widely applicable in various molecular biology experiments [6][9]. Product Development - The company has launched innovative products in the gastrointestinal and respiratory disease screening and diagnosis fields, including a series of nucleic acid detection kits for Helicobacter pylori, which is a significant risk factor for gastric cancer [9]. - The company has developed nucleic acid preservation reagents that are crucial for molecular detection, with over 70 types of products available, ensuring comprehensive sample collection and preservation capabilities [6][9].