Overall Performance - The company reported a revenue of 165 million USD for H1 2025, a year-on-year decrease of 2.5% [1] - The net profit attributable to the parent company was 6 million USD, down 41.3% year-on-year [1] - Gross margin stood at 60.0%, a decline of 2.4 percentage points year-on-year, while net margin was 5.4%, also down 2.4 percentage points [1] Regional Market Performance - Revenue from medical beauty products was 137.7 million USD, a decrease of 7.8% year-on-year, primarily affected by weak demand in the North American market [2] - Injection filling products generated 14.4 million USD, a significant increase of 218.1% year-on-year, driven by global direct sales and distribution networks [2] - North American revenue was 56.6 million USD, down 15.6% year-on-year, impacted by high interest rates and weak consumer spending [2] - Asia-Pacific revenue reached 65.8 million USD, up 17.6% year-on-year, benefiting from the effectiveness of the direct sales strategy [2] - European revenue was 23.8 million USD, a slight decline of 0.8% year-on-year [2] Product Development and Strategy - The company continues to optimize its product matrix, with core energy source devices like Soprano and Harmony maintaining competitiveness in hair removal and skin tightening [3] - The global first long-acting peptide-based neuromodulator Daxxify has received NMPA approval, and a sales team is being formed for its launch in China [3] - The company is advancing its pipeline with lipolytic injections completing Phase II clinical trials and other products like silk protein composite gel progressing [3] - The launch of AI-driven personalized skincare system Universkin and smart skin analysis platform Alma IQ is expected to enhance service value [3] - The company aims to leverage its direct sales network to strengthen its position in the Asia-Pacific region and open a second growth curve through injection filling business [3] - The company maintains profit forecasts, expecting net profits of 3.8 million USD, 4.6 million USD, and 5.4 million USD for 2025-2027, representing year-on-year growth of 52%, 21%, and 16% respectively [3]

Financial Data and Key Metrics Changes - The company reported revenue of $165.5 million for H1 2025, a decrease of approximately 1.9% compared to the previous year, primarily due to challenging market conditions such as high interest rates and weakened consumer spending in North America [8][14][18] - Gross profit margin was 60%, down 2.4 percentage points year over year, attributed to a shift in product mix towards higher-cost professional products and lower revenue contribution from North America [15][16] - Adjusted net profit was $12 million, reflecting a decline of 28.1% year over year [16] Business Line Data and Key Metrics Changes - Medical aesthetics products remained the largest revenue contributor, generating $137.7 million, or 83.2% of total revenue [16] - The injectables segment saw significant growth, increasing by 280.1% to $14.4 million, representing 8.7% of total revenue, up from 2.7% [16] Market Data and Key Metrics Changes - International sales channels grew by 7.1% year over year, with the Asia Pacific region achieving double-digit growth of 17.6%, driven by strong performance in Thailand and Korea [10][14] - The company’s direct operations worldwide provided robust market access and execution capabilities, allowing it to offset regional challenges [10] Company Strategy and Development Direction - The company is transitioning to a holistic ecosystem partner in medical aesthetics, integrating energy-based devices, injectables, and personalized skincare [4][5] - Future focus includes strengthening corporate leadership in Asia Pacific and North America, with anticipated launches of new products like Dexify in China [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in regaining momentum in regions affected by geopolitical tensions and anticipated stronger performance in H2 2025 due to increased consumer confidence and demand for recent launches [11][12] - The company plans to continue expanding its unique wellness ecosystem and deepen relationships with clinics and end consumers [12] Other Important Information - The successful North American launch of Universe Skin by Alma, an AI-assisted skincare system, is a key milestone for the company [5] - The company is preparing for the launch of Dexify, the world's first peptide-powered botulinum toxin in Mainland China, and expanding its injectable portfolio in various regions [12][15] Q&A Session Summary Question: What is the main reason for the good performance in the APAC area? - Growth in Thailand was driven by the introduction of Profilo, while Korea benefited from existing direct operations and the concept of lifting using titanium [20][22] Question: What is the proportion of direct sales in the first half of the year? - Approximately 85% of the business was from direct operations, slightly down due to a shift towards distributor fulfillment in North America [24][25] Question: What are the main reasons for the decrease in North America performance? - High interest rates and consumer spending concerns led to delays in deal closures and order processing [29][32] Question: What is the current progress of the launch of Dexify in China? - The company is advancing phase three clinical trials for Dexify and expects to launch in H2 2025, aiming for significant sales growth in the following years [55][56] Question: What are the differences among the injectable products? - The company offers a range of injectables including neotoxins, volumetric fillers, and biostimulators, each serving different clinical needs [60][62] Question: What is the guidance on revenue and net profit for 2025? - The company expects growth in both revenue and net profit in the second half of 2025, driven by new product launches and a backlog of orders [70][72]

Financial Performance - Sisram Medical's revenue decreased by 1.9% year-over-year to $165.5 million in H1 2025 [9, 71], but excluding North America, revenue grew 7.1% YoY [71] - Gross profit margin decreased by 2.4 percentage points to 60.0% [9, 71], due to product mix and decreased North America revenue [71] - Injectables revenue increased significantly by 218.1% year-over-year [9, 79], driven by geographical expansion and commercialization efforts [80] - Net profit decreased by 31.9% [70] Regional Performance - North America revenue decreased by 15.6% [10, 75] due to market headwinds [75] - APAC revenue increased by 17.6% [10, 75] due to the "Go-Direct" strategy [75] - Europe revenue declined slightly by 0.8% [75], but new EBD platforms saw notable growth [75] - Middle East and Africa revenue decreased by 9.7% [76] due to geopolitical tensions [76] Strategic Initiatives - The company is preparing for the launch of DAXXIFY in mainland China in H2 2025 [13, 45, 86] - The company is expanding global penetration of Alma Harmony, Alma IQ, and Universkin by Alma [86] - The company is driving injectables portfolio Revanesse and Profhilo growth in key markets [86] - The company is developing direct-sales offices in strategic regions [86]