Core Viewpoint - The company reported a mixed performance in its 2025 interim results, with a slight increase in revenue but a significant decline in net profit, primarily due to price reductions from the tenth batch of centralized procurement and increased marketing expenses for new products [2][3]. Financial Performance - The company achieved a revenue of HKD 6.107 billion in the first half of the year, representing a year-on-year increase of 1% [2]. - The net profit attributable to shareholders was HKD 1.169 billion, a decrease of approximately 25% year-on-year. Excluding the impact of Telix investments, the net profit was around HKD 1.017 billion, down about 5.9% year-on-year [2][3]. Product Performance - Revenue from innovative and barrier products accounted for over 50% of total revenue for the first time, contributing approximately 51% [3]. - The nuclear medicine oncology segment saw a remarkable revenue growth of 105.5% in the first half, following a 107.6% increase in the same period last year [3]. Strategic Focus - The company is focusing on innovative products as a key driver for future performance recovery [2]. - The company has a pipeline of 15 innovative products in the research and development phase, with the fastest progress being made on TLX591-CDx for prostate cancer diagnosis, which has completed patient enrollment for its Phase III clinical study [3][4]. Internationalization Efforts - The company aims to increase its international revenue, with a target of achieving over 30% of total revenue from international markets in the next 3 to 5 years [5]. - Currently, the overseas business accounts for approximately 40% of total revenue, with amino acid segment sales covering over 140 countries and regions [5]. Recent Developments - The company has made significant advancements in nuclear medicine, including the FDA approval of Yttrium-90 microsphere injection for treating unresectable hepatocellular carcinoma (HCC) [6]. - A new nuclear medicine research and production facility in Chengdu has commenced operations, designed to be one of the most automated and comprehensive in the world [6].