SNIBE(SZ:300832)2025-08-29 08:37Financial Performance - In the first half of 2025, the company achieved operating revenue of 2.185 billion CNY, a decrease of 1.18% compared to the same period last year [2] - Net profit attributable to shareholders was 771 million CNY, down 14.62% year-on-year [2] - Domestic market revenue was 1.229 billion CNY, a year-on-year decrease of 13%, with reagent revenue down 19% and instrument revenue up 18% [2] Market Coverage - The number of tertiary hospitals served by the company reached 1,835, with a coverage rate of 63.51% for top-tier hospitals [3] - In the overseas market, the company generated 952 million CNY in revenue, a year-on-year increase of 20%, with reagent revenue growing by 37% [3] Product Performance - A total of 774 automated chemical luminescence analyzers were installed in the domestic market, with large machines accounting for 75% of installations [2] - In the overseas market, 1,971 automated chemical luminescence analyzers were sold, with mid-to-large size instruments making up 77% of sales, an increase of 12 percentage points from the previous year [3] Challenges and Outlook - Domestic business faced pressure due to multiple external factors, including procurement policies and VAT adjustments, impacting reagent prices and revenue [4] - The company anticipates a recovery in domestic reagent revenue by Q3 2025, driven by the restoration of key testing projects [5] - Despite challenges, the overseas business is expected to return to normal growth as international logistics improve [6] Strategic Focus - The company is focusing on promoting high-end products and expanding its market share in large laboratories, which is expected to support long-term growth in reagent sales [6] - There remains significant growth potential in emerging markets, with the company aiming to enhance its market share in the immunodiagnostics sector [7]