The Zheshang Securities Research Report pointed out that Guobang Pharmaceutical's business resilience has been highlighted, and the energy storage cycle has been reversed. 2026H1 achieved net profit of 341 million yuan, a year-on-year decrease of 25.07%; 2026Q2 net profit to mother was 181 million yuan, a year-on-year decrease of 24.89%, demonstrating the company's resilience in the bottom cycle of the industry. 2026H1's revenue grew steadily, and the profit side was gradually pressured by the exchange rate and product price cycle. However, the trend of increasing the company's core product volume and market share has not changed, and operating cash flow has improved dramatically, demonstrating the company's resilience in the bottom cycle of the industry. The company's performance is expected to recover as the prices of animal protection products pick up and the volume of specialty APIs and new products continues to be released. I am optimistic that the company is based on large-scale manufacturing advantages, increasing the market share of core products strengthens manufacturing advantages, creates new momentum for commercialization of new varieties, and maintains a “buy” rating.

The Zheshang Securities Research Report pointed out that Guobang Pharmaceutical's business resilience has been highlighted, and the energy storage cycle has been reversed. 2026H1 achieved net profit of 341 million yuan, a year-on-year decrease of 25.07%; 2026Q2 net profit to mother was 181 million yuan, a year-on-year decrease of 24.89%, demonstrating the company's resilience in the bottom cycle of the industry. 2026H1's revenue grew steadily, and the profit side was gradually pressured by the exchange rate and product price cycle. However, the trend of increasing the company's core product volume and market share has not changed, and operating cash flow has improved dramatically, demonstrating the company's resilience in the bottom cycle of the industry. The company's performance is expected to recover as the prices of animal protection products pick up and the volume of specialty APIs and new products continues to be released. I am optimistic that the company is based on large-scale manufacturing advantages, increasing the market share of core products strengthens manufacturing advantages, creates new momentum for commercialization of new varieties, and maintains a “buy” rating.