Anke Biotechnology: Currently, the growth hormone market is highly competitive, but the overall price system is relatively stable.

Anke Biotechnology recently stated during an institutional research visit that in the first half of 2025, the company's new patient enrollment for growth hormone maintained a year-on-year growth, with the proportion of growth hormone water needles continuing to rise. Currently, the revenue from water needles accounts for over 40% of the company's total revenue from the entire series of growth hormone products. Due to the relatively unsatisfactory new patient enrollment in the second half of 2024, the growth hormone revenue in the first half of 2025 remained basically flat compared to the same period last year. With the year-on-year growth in new patient enrollment in the first half of the year, the company will continue to promote the academic dissemination of growth hormone and strive to achieve the goal of recovery growth. Currently, the competition in the growth hormone market is fierce, but the overall pricing system is relatively stable.