Group 1 - The core viewpoint of the news is that 科笛-B (02487) experienced a significant stock price increase of over 14% despite reporting a substantial decline in revenue and an increase in net loss for the first half of the year [1] - The company's revenue decreased by 30.6% year-on-year to approximately 66.3 million HKD, while the net loss increased by about 19.1% to approximately 239 million HKD [1] - The decline in revenue is attributed to the company's decision to terminate its agency cooperation with the US skincare brand 欧玛 due to macroeconomic policies and international environment impacts, reallocating resources to new products with higher market potential [1] Group 2 - 科笛 plans to issue a total of 28.9 million placement shares at a price of 8.40 HKD per share, representing a discount of approximately 12.04% to the previous trading day's closing price of 9.55 HKD [2] - The net proceeds from the placement are expected to be approximately 240 million HKD, with 45% allocated for preclinical research and development, clinical trials, and production facility layout in areas such as localized fat management and skin diseases [2] - Another 45% of the proceeds will be used for marketing, channel expansion, and brand building for the new products CU-40102 and CU-10201, while the remaining 10% will be used for working capital and general corporate purposes [2]

Core Viewpoint - The company reported a significant decline in revenue and an increase in net loss for the first half of 2025, primarily due to strategic changes in its business operations [1] Financial Performance - Revenue decreased by 30.6% year-on-year to approximately 66.3 million [1] - Gross profit was approximately 32.1 million, reflecting a year-on-year decrease of 36.3% [1] - Net loss amounted to approximately 239 million, which is an increase of about 19.1% year-on-year [1] - Earnings per share showed a loss of 0.75 yuan [1] Strategic Decisions - The revenue decline was attributed to the company's cautious decision to terminate its agency partnership with the American skincare brand OMA due to macroeconomic policies and international environment impacts [1] - Resources are being reallocated towards the commercialization preparations of new products, CU-40102 (topical finasteride spray) and CU-10201 (topical 4% minocycline foam), which have received regulatory approval [1] - The new products are expected to have greater market potential and a higher return on investment, indicating a strategic shift aimed at long-term development [1]