Core Viewpoint - Watson Bio is strategically positioning itself to overcome common challenges in the vaccine industry while actively cultivating new growth engines for the future [1] Group 1: Financial Performance - In Q3 2025, the company achieved an operating income of 560 million yuan, with a net profit attributable to shareholders increasing by 40.19% year-on-year [1] - The export value of products in the first three quarters grew by 6.32% compared to the same period last year [1] Group 2: Microecological Health Field - To align with the national "preventive healthcare" strategy, Watson Bio has signed exclusive licensing agreements with Notitia Biotechnologies Company to develop core microbiome therapies in China [2] - The company is establishing a dual-track approach in the gut microbiome field, focusing on disease treatment interventions and health nutrition for chronic disease prevention [2] - The project has entered the implementation phase, aiming to provide comprehensive health solutions that integrate clinical pathways and technology platforms [2] Group 3: Synthetic Biology Business - Watson Bio is leveraging opportunities in synthetic biology as a strategic emerging industry, utilizing local biodiversity and resources for product development [3] - The establishment of Aisenze Biotechnology (Kunming) Co., Ltd. focuses on the industrialization of precision photobiological synthesis for natural products [3] - The company aims to expand its product pipeline and business areas while maintaining steady growth in its vaccine core business, aligning with national health and green development strategies [3]