Group 1 - The company hosted an investor relations event on September 25, 2025, attracting participation from 10 institutions, including Shenzhen Beidouxing Space Investment Company [1] - The event included discussions on the company's operating performance, product layout, market development, and production management, aligning with the company's announcements [1] - Key personnel from the company included the Deputy General Manager and Board Secretary, Financial Director, and Securities Affairs Specialists [1] Group 2 - The company's subsidiary, Huason Yingnuo, is responsible for innovative drug development and has transitioned to a clinical-stage biotechnology company [2] - As of 2025, the company has 7 self-initiated innovative drug projects in development, targeting oncology and autoimmune diseases, with one drug currently in clinical trials [2] - In the first half of 2025, the company achieved revenue of 442 million yuan, a year-on-year increase of 5.76%, driven by the approval and successful bidding of chemical generic drugs [2] Group 3 - The company’s five key traditional Chinese medicine products are focused on common and chronic diseases, with 29 authoritative recommendations received [3] - The sales strategy primarily targets public hospitals, with a significant portion of sales occurring in the hospital market, while also expanding into retail pharmacies and e-commerce [3] - The company has four self-developed special medical food projects, with one project already certified and in the market introduction phase [3] Group 4 - The weight loss drug, Quchang Orlistat capsules, is currently in the market introduction phase as part of the company's health product portfolio [4]

Group 1: Company Overview and Performance - The company achieved a revenue of 442 million CNY in the first half of 2025, an increase of 5.76% compared to the same period last year [4] - The net profit attributable to shareholders reached 53.95 million CNY, up 14.27% year-on-year [4] - The growth in revenue was driven by a 29.45% increase in revenue from chemical generic drugs and a 3.52% increase in key traditional Chinese medicine (TCM) products [4] Group 2: Research and Development - The company’s subsidiary, Huason Yingnuo, has seven innovative drug projects in clinical stages, covering various cancers and autoimmune diseases [3] - The innovative drug ORIC-1940 is currently undergoing Phase Ia/Ib clinical trials [3] - The company has successfully integrated with Chengdu Aorui Pharmaceutical, enhancing its R&D capabilities [3] Group 3: Product Development and Market Strategy - The company has five key TCM products that are essential for common and chronic diseases, with sales growth of 3.52% in the first half of 2025 [6][7] - The TCM product Pain Relief Granules saw sales increase by over 30% [7] - The company is focusing on building an academic system for key products and promoting them in clinical guidelines [7] Group 4: Sales Channels and Market Expansion - Approximately 70% of sales are generated from public hospitals, with efforts to expand into retail pharmacies and e-commerce platforms [8] - The company is actively working to increase its market share in outpatient clinics and other healthcare settings [8] Group 5: Special Medical Foods - The global market for special medical foods is approximately 3 billion USD, with China's market at around 7 billion CNY [9] - The company has four self-developed projects in this category and has received regulatory approval for its first special medical food product [11] - The production line for special medical foods is expected to gradually release capacity as new products are launched [11]