Core Viewpoint - Iwubio has demonstrated strong growth in revenue and profit in the first half of 2025, driven by its leading position in the allergen desensitization treatment market and the introduction of new products [1][2][3]. Financial Performance - In the first half of 2025, Iwubio achieved revenue of 484 million yuan, a year-on-year increase of 12.81% [1] - The company's net profit attributable to shareholders was 177 million yuan, up 18.61% year-on-year [1] - The revenue from dust mite drops was 455 million yuan, growing by 10.51% [1] - The revenue from the mugwort pollen sublingual drops reached 21.02 million yuan, with a significant increase of 71.37% [1] - The skin prick solution generated revenue of 6.33 million yuan, marking a growth of 104.38% [1] Market Position and Product Development - Iwubio is a core supplier in China's desensitization treatment market, with only its products approved for sublingual allergen desensitization therapy [1][3] - The company has a unique advantage in the allergen product field, which supports its continuous growth [3] - Iwubio has expanded its product matrix with the approval of new skin prick solutions for various allergens [3] Industry Growth Potential - The Chinese allergy drug market is expected to reach 21.6 billion USD by 2030, with a CAGR of 17.1% from 2022 to 2030 [2] - The increasing awareness of allergic diseases among the population and their rising incidence rates are driving market growth [2] Research and Development - Iwubio invested 61.68 million yuan in R&D in the first half of 2025, accounting for 12.74% of its revenue [4] - The company holds 13 valid Chinese invention patents and 7 foreign invention patents, establishing a solid technological barrier [4] - Iwubio is actively involved in clinical research, with numerous studies published in international journals supporting the clinical value of its products [5][6] Future Expansion - Iwubio is exploring new markets, including stem cell therapy and antibiotic resistance, which are projected to have significant growth potential [7][8] - The company aims to enhance its product offerings in the allergy treatment sector while also venturing into emerging medical fields [8]

Core Viewpoint - Iwubio has demonstrated steady growth in its financial performance, with a focus on innovation in the desensitization treatment sector, positioning itself as a leader in a competitive market [1] Group 1: Financial Performance - For the year 2024, Iwubio reported a revenue of 925 million yuan, representing a year-on-year growth of 9.10% [1] - The net profit attributable to shareholders was 318 million yuan, an increase of 2.46% year-on-year [1] - In Q1 2025, the company achieved a revenue of 228 million yuan, up 5.7% year-on-year, with a net profit of 74 million yuan, reflecting a growth of 1.5% [1] - Operating cash flow for Q1 2025 reached 85.88 million yuan, marking a significant increase of 96.2% [1] - Cumulatively, the company has distributed over 850 million yuan in cash dividends since its listing, which is approximately four times the amount raised during its IPO [1] Group 2: Competitive Advantages - Iwubio has established three competitive barriers: technological innovation, product scarcity, and industry leadership [2][3][4] - The company invested 125 million yuan in R&D in 2024, accounting for 13.48% of its revenue, which is above the industry average [2] - Iwubio's product "Dust Mite Drops" is the only sublingual desensitization treatment available in China, providing a significant advantage in terms of safety and convenience compared to subcutaneous alternatives [3] - The market share of Iwubio's "Dust Mite Drops" has consistently remained above 81.72%, confirming its leading position in the domestic desensitization treatment market [4] Group 3: Growth Potential - The allergy treatment market is expected to grow due to the increasing prevalence of allergic diseases, with reports indicating that around 40% of the Chinese population suffers from such conditions [5] - Iwubio's "Dust Mite Drops" and "Artemisia Pollen Sublingual Drops" have shown significant growth, with the latter achieving a 76.43% increase in 2024 [5] - The company is expanding its product offerings in the allergy testing market, with new products like "Pollen Skin Prick Test Solutions" receiving market approval [5] - Iwubio is also venturing into stem cell therapies and natural medicines, aiming to create a second growth curve [6] - The company has identified a drug molecule for antibiotic-resistant tuberculosis and is advancing its clinical research [6] Group 4: Strategic Outlook - Iwubio's strategic positioning in the allergy treatment sector, combined with its innovative approaches in stem cell and natural medicine, suggests a robust growth trajectory [7] - The company is well-positioned to navigate the evolving pharmaceutical landscape, focusing on both maintaining its core allergy treatment business and exploring new therapeutic areas [7]