Core Viewpoint - The company achieved significant growth in revenue and net profit in the first half of 2025, primarily driven by the transfer of equity in a pharmaceutical subsidiary, indicating strong operational performance and strategic asset management [1][2]. Financial Performance - The company reported a revenue of 2.651 billion yuan and a net profit of 1.928 billion yuan, marking a year-on-year increase of 193.08% [1]. - Basic earnings per share reached 2.50 yuan [1]. Business Operations - The company focuses on modern traditional Chinese medicine, integrating various aspects of the pharmaceutical industry, including cultivation, research, production, and retail [1]. - It has developed a comprehensive industrial chain with 599 approved drug varieties across 22 dosage forms, including notable products like Su Xiao Jiu Xin Wan and Jing Wan Hong Ointment [1]. Marketing Strategy - The company is transitioning its marketing strategy from a "1.0 factory-to-sales" model to a "2.0 push-pull combination," enhancing its Sell Out operational capabilities [2]. - Sales of Su Xiao Jiu Xin Wan reached 1.128 billion yuan, up 5.45%, while Qing Yan Di Wan sales increased by 52.28% to 289 million yuan [2]. E-commerce and Retail Expansion - The company is expanding its new retail strategy through a B2C and O2O dual approach, improving product accessibility and conversion rates [2]. - The launch of the O2O "Fire Wheel" plan aims to optimize services via platforms like Meituan, addressing consumer needs promptly [2]. International Market Development - The company is progressing with international registrations, having obtained nine international registration certificates for its products this year [2]. - It is shifting from single-order collaborations to long-term strategic partnerships to leverage brand advantages and channel resources [2].