Core Insights - The company reported a revenue of approximately HKD 6.11 billion for the first half of 2025, representing a year-on-year growth of about 1.0% [1] - Net profit for the period was approximately HKD 1.17 billion, with a slight decline of 5.9% in normalized profit [1] - The revenue share of innovative and high-barrier products increased to 51.0%, up from 36.1% in the same period last year, indicating a shift towards higher value-added products [1] - The decline in profit was attributed to price pressures from centralized procurement and increased marketing expenses for new product launches, which are seen as strategic investments for future growth [1] Financial Performance - The company achieved a revenue of approximately HKD 4.22 billion in its nuclear medicine segment, with a remarkable year-on-year growth of 105.5% [10][11] - The core product, Yttrium microsphere injection, drove this growth, with commercialization progressing in over 70 hospitals across 22 provinces in China [11] - The company invested approximately HKD 1.022 billion in research and development during the first half of 2025 [9] Product Development - The global innovative drug STC3141 for treating sepsis successfully reached its primary clinical endpoint in a Phase II trial in China [5] - The company holds global intellectual property rights for STC3141, which has the potential to become a First-in-Class (FIC) drug [6][8] - The innovative pipeline includes products like OC-01 and GPN01768, which have shown strong performance in overseas markets, with GPN01768 generating over USD 100 million in revenue, a nearly 152% increase year-on-year [7] Global Strategy - The company has established a global operational network, with a new radioactive drug research and production base in Chengdu, which is the first of its kind to cover the entire nuclear medicine value chain [15] - The base is equipped with 14 high-standard GMP production lines, ensuring a stable supply chain and supporting global market needs [15] - The company aims to build its global pharmaceutical brand through its "Go Global" strategy, leveraging its innovative products and international clinical trial capabilities [15] Conclusion - The mid-year financial report highlights a significant shift in the company's business structure, with innovative products now constituting over half of its revenue [16] - The pipeline of FIC drugs and the integrated diagnostic and therapeutic platform in nuclear medicine are expected to contribute significantly to revenue growth [16] - The operational infrastructure in Chengdu supports the execution of the company's global strategy, positioning it for future expansion [16]