Core Insights - The company has established a systematic layout in new molecular fields such as ADC, TPD, and TIDES, covering early-stage research to process development and production capabilities [1] - Although the current revenue contribution from new molecular business is less than 10%, the order growth rate exceeds 100% [1] - The peptide GMP pilot workshop located in Zhejiang Huishi is accelerating construction and is expected to be operational in the first quarter of 2026 [1] - The high-activity workshop has already undertaken multiple ADC projects with plans for subsequent capacity expansion [1] - Future capital expenditures will focus on expanding new molecular production capacity, integrating low-carbon chemistry with digital intelligence, and overseas research and development layout [1]

Core Viewpoint - The company reported a significant turnaround in its financial performance for the first half of 2025, achieving a revenue of 1.621 billion yuan, a year-on-year increase of 19.88%, and a net profit of 27.0595 million yuan, compared to a loss of 170 million yuan in the same period last year [1] Group 1: Financial Performance - The company achieved a basic earnings per share of 0.05 yuan [1] - Revenue growth was primarily driven by strong performances in small molecule APIs, gene cell therapy, and new molecular businesses, with respective year-on-year growth rates of approximately 20%, 71%, and 128% [1] - The European market saw a revenue increase of about 35%, while the North American market grew by approximately 33% [1] Group 2: Client and Project Engagement - The company provided small molecule API services to over 320 global clients, acquiring 40 new clients during the reporting period [2] - The gene cell therapy business achieved a reduction in losses, serving 51 clients and signing new orders worth 52.55 million yuan [2] - The new molecular business signed orders worth 41.86 million yuan, providing services for 38 clients across 67 projects [2] Group 3: Market and Operational Insights - The company has a cumulative service record of over 1,300 clients and more than 4,600 successful project deliveries, covering major disease treatment areas such as antiviral, oncology, and rare diseases [3] - The company has optimized its internal operations to effectively respond to challenges in the domestic generic drug CDMO market [2]