Core Viewpoint - The report indicates a significant decline in revenue and net profit for the first half of 2025, while the international market shows resilience with a 20% increase in revenue compared to the previous year [1][2]. Group 1: Financial Performance - The company's operating revenue for the first half of 2025 was 351 million yuan, representing a year-on-year decrease of 60.07% [1]. - The net profit attributable to shareholders was a loss of 28.31 million yuan, reflecting a year-on-year decline of 117.13% [1]. Group 2: International Market Strategy - The company has implemented a dual-drive strategy focusing on both domestic and international markets, with ongoing efforts in local management and product upgrades [1]. - The international market has shown stability, with revenue growth in countries like India, the Philippines, and Turkey, and several high-speed models have received registration in various countries [1][2]. - The company has shifted from a "multi-point layout" to a "refined cultivation" strategy in the international market, concentrating resources on twelve key countries to enhance competitive strength [2]. Group 3: Product Development and Market Presence - The company has achieved registration for several key products, including biochemical and urine testing instruments, which are now being marketed internationally [1]. - The company’s seven major product series are sold in over 120 countries and regions, establishing stable sales channels and brand influence [2].

Financial Performance - The company achieved total revenue of 1.742 billion yuan in 2024, a decrease of 7.61% year-on-year, primarily due to a decline in agency product and testing service income [3] - Self-produced products generated revenue of 837 million yuan, remaining stable compared to the previous year [3] - Net profit attributable to shareholders was 258 million yuan, a year-on-year increase of 0.56% [3] - Net profit attributable to shareholders after deducting non-recurring gains and losses was 220 million yuan, an increase of 12.67% year-on-year [3] Strategic Focus - The company will continue to implement a strategy centered on in vitro diagnostic instruments and products, aiming for collaborative development between diagnostic products and services [3] - Plans to enhance product variety and quality through continuous technological innovation and product research and development [3] Market Challenges - The in vitro diagnostic industry is facing pressure due to national medical insurance cost control and centralized procurement, impacting short-term performance [9][19] - The company aims to strengthen refined management, implement large-scale production, and optimize the supply chain to improve operational efficiency and market share [10][19] International Expansion - In 2024, the company participated in major overseas exhibitions, expanding its business to six new countries and regions [12] - Plans to accelerate product international market registration and certification, establishing an "International Trade Center" in Shenzhen to enhance international sales capabilities [13] Technological Development - The company is focusing on automation, precision medicine, and personalized diagnostics as key trends in the in vitro diagnostic industry [11][15] - Ongoing investment in R&D to enhance product performance and develop new products in the fields of biochemistry, mass spectrometry, and precision lipid testing [15][16] Future Outlook - The company anticipates that the aging population and increasing life expectancy in China will continue to drive growth in the in vitro diagnostic industry [11] - The company is committed to adapting to industry changes and enhancing its competitive position through strategic adjustments and technological advancements [19]