Core Viewpoint - Shanghai Pharmaceuticals (601607.SH) announced that its controlling shareholder, Shanghai Shibei Group, plans to increase its holdings of the company's H-shares by 55 million to 74 million shares within the next 12 months, representing up to 2% of the company's voting shares [1] Group 1 - The increase in shareholding will be executed through Shanghai Shibei Group's wholly-owned subsidiary, Shanghai Shibei International, via the Hong Kong Stock Exchange's centralized bidding system [1] - The share purchase will not have a fixed price range and will be conducted based on market conditions [1] - The funding for this share acquisition will come from Shanghai Shibei International's own funds [1]

智通财经APP讯，上海医药(601607.SH)发布公告，基于对公司未来发展的信心，公司控股股东上实集 团计划在未来12个月内由其全资子公司上实国际，通过香港联合交易所有限公司系统以集中竞价方式增 持公司H股股份，增持股份总量5,500万股至7,400万股，不超过公司有投票权股份数的2%，本次增持不 设置固定价格区间，结合资本市场行情择机开展股票增持，资金来源为上实国际自有资金。 ...

智通财经APP讯，上海医药(601607.SH)发布公告，基于对公司未来发展的信心，公司控股股东上实集 团计划在未来12个月内由其全资子公司上实国际，通过香港联合交易所有限公司系统以集中竞价方式增 持公司H股股份，增持股份总量5,500万股至7,400万股，不超过公司有投票权股份数的2%，本次增持不 设置固定价格区间，结合资本市场行情择机开展股票增持，资金来源为上实国际自有资金。 ...

格隆汇9月15日丨上海医药(601607.SH)公布，基于对公司未来发展的信心，公司控股股东上实集团计划 在未来12个月内由其全资子公司上实国际，通过香港联合交易所有限公司系统以集中竞价方式增持公司 H股股份，增持股份总量5,500万股至7,400万股,不超过公司有投票权股份数的2%，本次增持不设置固定 价格区间，结合资本市场行情择机开展股票增持，资金来源为上实国际自有资金。 ...

上海医药(601607.SH)公告称，公司控股股东上海实业（集团）有限公司计划在未来12个月内，由其全 资子公司上实国际投资有限公司通过香港联交所系统以集中竞价方式增持公司H股股份，增持股份总量 5500万股至7400万股，不超过公司有投票权股份数的2%。 ...

Group 1 - The core viewpoint of the article indicates a structural optimism for the pharmaceutical distribution industry in China despite the mid-term performance not turning profitable by the first half of 2025 [1] - Factors contributing to this optimism include potential relaxation of mainland medical insurance spending, possible optimization of volume-based procurement due to anti-involution measures in the healthcare sector, enhanced cash payment capabilities of medical insurance funds, and a domestic interest rate reduction cycle that may help distributors improve financial leverage [1] Group 2 - Citic Lyon raised the target price for China National Pharmaceutical Group (01099) by 22.5%, from HKD 20 to HKD 24.5 [1] - The target price for Shanghai Pharmaceuticals (02607) H-shares was increased by 15.4%, from HKD 12.3 to HKD 14.2 [1] - However, the target price for China Resources Pharmaceutical (03320) was lowered by 5.1%, from HKD 5.9 to HKD 5.6 [1] - The rating for all the mentioned companies remains "outperform the market," with China National Pharmaceutical Group being the preferred choice [1]

Core Viewpoint - The report from Citi expresses a structurally optimistic outlook for the Chinese pharmaceutical distribution industry despite the lack of a turnaround in the first half of the year [1] Group 1: Industry Insights - Potential easing of medical insurance expenditures is anticipated, which may positively impact the industry [1] - Possible optimization of centralized procurement policies is expected due to potential anti-involution measures in the healthcare sector [1] - Strengthening of direct cash settlement from medical insurance funds is noted as a positive development for the industry [1] - The domestic interest rate cut cycle is expected to improve the financial leverage of distributors [1] Group 2: Company Target Price Adjustments - The target price for China National Pharmaceutical Group (国药控股) is raised from HKD 20 to HKD 24.5 [1] - The target price for Shanghai Pharmaceuticals (上海医药) is increased from HKD 12.3 to HKD 14.2 [1] - The target price for China Resources Pharmaceutical (华润医药) is decreased from HKD 5.9 to HKD 5.6, while maintaining an "outperform" rating [1] - China National Pharmaceutical Group is identified as the preferred choice among pure distributors [1]

Core Viewpoint - The report from Credit Lyonnais indicates a structurally optimistic outlook for the Chinese pharmaceutical distribution industry despite the lack of a turnaround in the first half of the year [1] Industry Summary - Potential easing of medical insurance expenditures is anticipated, which could positively impact the industry [1] - Possible anti-involution measures in the healthcare sector are expected to optimize centralized procurement policies [1] - Strengthening of direct cash settlement from medical insurance funds is noted as a beneficial factor [1] - The domestic interest rate cut cycle is expected to improve the financial leverage of distributors [1] Company Summary - Credit Lyonnais raised the target price for China National Pharmaceutical Group (Sinopharm) from HKD 20 to HKD 24.5 [1] - The target price for Shanghai Pharmaceuticals' H-shares was increased from HKD 12.3 to HKD 14.2 [1] - The target price for China Resources Pharmaceutical was slightly decreased from HKD 5.9 to HKD 5.6, while maintaining an "outperform" rating [1] - Sinopharm is identified as the preferred choice among pure distributors by Credit Lyonnais [1]

Drug Overview - Shanghai Pharmaceuticals has received a drug registration certificate from the Philippines Food and Drug Administration for Aripiprazole Tablets, allowing the product to be marketed in the Philippines [1] - Aripiprazole is an antipsychotic medication primarily used for the treatment of schizophrenia and manic episodes of bipolar disorder, and can also be used as an adjunct treatment for depression [1] - The drug was first approved by the FDA in the United States in November 2002 and was approved for domestic sale in China in October 2004 [1] Market Competition - In the Philippines, Aripiprazole Tablets face competition from five other companies, including OTSUKA PHARM, ZYDUS PHILS. INC., and MULTICARE PHARM [2] - The total sales revenue for Aripiprazole Tablets (10 mg) in the Philippines is projected to be $2.39 million in 2024 according to IQVIA data [3] Impact on Company - The approval of Aripiprazole Tablets in the Philippines is expected to positively impact the company's efforts to expand into overseas markets and accumulate valuable experience [4]

Core Viewpoint - Shanghai Pharmaceuticals (02607.HK) has received approval from the Philippines Food and Drug Administration for the marketing of Aripiprazole tablets, an antipsychotic medication used for treating schizophrenia and manic episodes of bipolar disorder, and as an adjunct treatment for depression [1] Group 1 - The product approved is Aripiprazole tablets, which are primarily used for the treatment of schizophrenia and manic episodes of bipolar disorder [1] - Aripiprazole can also be used as an adjunct treatment for depression [1] - The approval signifies a potential expansion of the company's product offerings in the pharmaceutical market [1]