Core Viewpoint - The company has made progress in its fundraising projects, with some completed and others still under construction, while focusing on expanding its proprietary brand business under the "extreme antibody" strategy [1] Group 1: Fundraising Projects - Some fundraising projects have been completed, while others are still in the construction phase [1] - Investors can track the progress of these projects through the company's past and future annual and semi-annual reports [1] Group 2: Proprietary Brand Business - The company aims for over 20% growth in its proprietary brand business by the first half of 2025, with an increasing revenue share from these products [1] - The company has enriched its proprietary product offerings, with over 4,200 SPUs developed at the Hangzhou antibody research center and over 1,800 SPUs at the Nanjing protein research center [1] - Future efforts will focus on maintaining stability in third-party brand business while expanding the market for proprietary brands to improve revenue structure and enhance sustainable development capabilities [1]

Core Insights - The company participated in a collective reception day and mid-year performance briefing, emphasizing its commitment to value communication and future confidence [1] Group 1: R&D and Product Development - The company has been continuously investing in R&D in the antibody field, leading to a rich portfolio of raw material antibodies and protein products [1] - As of mid-2025, the company's Hangzhou antibody R&D center has developed over 4,200 SPUs, while the Nanjing protein R&D center has developed over 1,800 SPUs [1] Group 2: Brand Growth and Revenue - The company’s self-owned brand products, including Absin, LabEx, STARTER, and UA, achieved over 20% growth in the previous year, contributing to an increased share of self-owned brand revenue [1]