Core Viewpoint - Aimeike (300896.SZ), a leading player in the medical aesthetics industry, reported a significant decline in revenue and net profit for the first half of 2025, leading to a drop in stock price following the announcement [1][2]. Financial Performance - The company achieved operating revenue of 1.299 billion yuan, a year-on-year decrease of 21.59% [1]. - Net profit attributable to shareholders was 789 million yuan, down 29.57% year-on-year [1]. - The net profit after deducting non-recurring gains and losses was 722 million yuan, a decline of 33.70% [1]. - The net cash flow from operating activities was 655 million yuan, down 43.06% year-on-year [1]. - Basic and diluted earnings per share were both 2.62 yuan, a decrease of 29.57% [1]. - The weighted average return on net assets was 10.10%, down 6.52 percentage points from the same period last year [1]. Product Performance - Revenue from solution-type injection products was 744 million yuan, a decrease of 23.79% year-on-year [1]. - Revenue from gel-type injection products was 493 million yuan, down 23.99% year-on-year [1]. - Gross margins for solution-type and gel-type products were 93.15% and 97.75%, respectively [1]. Research and Development - The company invested 157 million yuan in R&D, an increase of 24.47% year-on-year [1]. - Several products, including botulinum toxin injections and lidocaine cream, are in the registration phase, while others are undergoing clinical trials [1]. Asset and Equity Position - As of the end of the reporting period, total assets were 8.765 billion yuan, an increase of 5.09% from the previous year [2]. - Net assets attributable to shareholders were 7.456 billion yuan, a decrease of 4.37% from the previous year [2]. Dividend Distribution - The board approved a profit distribution plan to pay a cash dividend of 12 yuan (including tax) for every 10 shares, with no bonus shares or capital reserve transfers [4]. Legal Matters - The company is involved in arbitration with *ST Suwu regarding the "Tian Yan Needle" and has taken steps to protect its interests in the ongoing legal dispute [5].