Core Insights - The biopharmaceutical industry is accelerating commercialization processes, significantly boosting the demand for chromatography materials due to multiple innovative drug projects entering production stages [1] - The company, Saifen Technology, has achieved dual breakthroughs in performance and technical strength, with its industrial purification business being the main growth driver [2] - The company has made significant advancements in core technologies, enhancing its product offerings and establishing itself as an industry benchmark [4] Industry Overview - The demand for chromatography consumables is surging, driven by the expansion of GLP-1 drugs and recombinant proteins, creating vast growth opportunities for Saifen Technology [1] - The industrial purification sector has shown remarkable performance, with sales revenue reaching 120 million yuan, a year-on-year increase of 28.59%, accounting for 65.97% of total revenue [2] - The company has completed 87 clinical phase III and commercialization projects for imported filler replacements, with a focus on antibodies, GLP-1, and recombinant proteins [6] Company Performance - In the first half of 2025, Saifen Technology reported a revenue of 183 million yuan, a year-on-year growth of 19.76%, with a gross margin of 70.60% [5] - The net profit attributable to the parent company reached 53.66 million yuan, up 40.91% year-on-year, with a net profit excluding non-recurring items of 46.50 million yuan, reflecting a growth of 22.08% [5] - The company has expanded its customer base and increased sales to significant clients, with sales exceeding 10 million yuan contributing to 86.22% of the industrial purification revenue [2] Technological Advancements - Saifen Technology has upgraded its core technology platforms, launching new industrial purification products, including high-performance affinity and cation exchange fillers [4] - The company has achieved precise control over microsphere synthesis and developed surface modification techniques to enhance product performance [4] - The introduction of a new generation of size exclusion chromatography columns supports global business expansion and solidifies the company's position among top international chromatography firms [3] Future Outlook - Saifen Technology plans to increase R&D investment, deepen chromatography technology, and continue launching innovative products to enhance performance and quality [6] - The company aims to accelerate the domestic substitution process and strengthen collaborations with domestic pharmaceutical companies to expand market share [6] - The completion of the second phase of the Yangzhou project will enable an annual production capacity of over 200,000 liters of chromatography media, supporting domestic substitution and pharmaceutical growth demands [6]