Core Viewpoint - The stock of Bruker (00325) has fallen over 60% from its peak of 198 HKD per share on June 9, reaching a new low of 70.05 HKD, indicating significant market concerns about its profitability and product delivery capabilities [1] Financial Performance - Bruker's revenue increased by 28% year-on-year in the first half of the year, but the adjusted net profit only rose by 10%, falling short of market expectations [1] - The company has commercialized 19 IPs in the first half of the year, with a total of 925 SKUs, including 273 new SKUs [1] Market Position and IP Strategy - Bruker's strong IP portfolio is expected to enhance its competitiveness in both domestic and international markets, despite current challenges [1] - The top four IPs contributed 83.1% of the revenue in the first half of the year, a decrease from 92.3% contribution from the top three IPs (Ultraman, Transformers, and Heroes Infinite) in the same period last year [1]