Core Viewpoint - Guobang Pharmaceutical's performance in the first half of 2025 reflects growth driven by core business deepening, continuous R&D investment, and collaborative efforts in upgrading the industrial chain [2] Financial Performance - In the first half of 2025, Guobang Pharmaceutical achieved operating revenue of 3.026 billion yuan, a year-on-year increase of 4.63% - The net profit attributable to shareholders reached 456 million yuan, representing a year-on-year growth of 12.60% [1] Business Segments - The company maintains a leading position in pharmaceutical raw materials, with significant achievements in animal health, plant protection, and food-drug homologation sectors [1] - The animal health business has seen a notable decrease in marginal costs due to scale advantages, with over 2,000 tons of florfenicol shipped and a growing market share [1] - The plant protection project has successfully entered trial production, and the Seven Fang Cup series health drinks have been launched in the market [1] Market Expansion and Global Strategy - Guobang Pharmaceutical's products are distributed across 117 countries and regions on six continents, with over 5,000 supply partners [2] - The company actively participated in 18 domestic and international exhibitions, including API and CPHI, to expand its global market channels [2] - The proportion of products certified by international authorities continues to rise, with 18 products having obtained CEP certification and 7 products approved by the FDA [2] Cash Flow and Operational Quality - The net cash flow from operating activities turned positive to 103 million yuan, indicating a significant improvement in the company's operational quality [2] - The robust cash flow situation supports ongoing R&D investments, new product pipeline advancements, and capacity expansion [2] R&D and Certification - The company is increasing its investment in R&D and production management, aiming to expand the coverage of international certifications such as CEP and FDA [3]