Core Viewpoint - Shanghai Pharmaceuticals' subsidiary, Shanghai Shiyou Zhongxi Pharmaceutical Co., Ltd., 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] Company Summary - Aripiprazole tablets are an antipsychotic medication primarily used for the treatment of schizophrenia and manic episodes of bipolar disorder, and can also serve as an adjunct treatment for depression [1] - The company incurred approximately 50,000 yuan in registration-related expenses for the product's market entry in the Philippines [1] Market Summary - The total sales revenue for Aripiprazole tablets (10 mg) in the Philippines is projected to be 2.39 million USD in 2024 [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產 生或因依賴該等內容而引致之任何損失承擔任何責任。 中國上海，2025年9月9日 於本公告日期，本公司的執行董事為楊秋華先生、沈波先生、李永忠先生及董明先生；非執 行董事為張文學先生；以及獨立非執行董事為顧朝陽先生、霍文遜先生、王忠先生及萬鈞女 士。 Shanghai Pharmaceuticals Holding Co., Ltd.* ( ) 於中華人民共和國註冊成立的股份有限公司 (股份代碼: 02607) 關連交易 擬收購財務公司 10%股權 最新進展 茲提述上海醫藥集團股份有限公司（「本公司」）日期為2025年7月26日的公告（「該公 告」），內容有關擬訂立之股份轉讓協議，據此本公司擬議收購而上實東灘擬議出售財務公 司10%股權。除本公告另有界定外，本公告所用詞彙與該公告所界定者具有相同涵義。 董事會欣然宣佈，本公司已於2025年9月8日與上實東灘按該公告所載的主要條款簽署了股份 轉讓協議。 除上文所披露者外，該公告的所有其他資料維持不變。 承董 ...

Investment Rating - The report maintains a "Buy" rating for the company, expecting a relative increase of over 20% compared to the benchmark index within six months [9][13]. Core Views - The company demonstrated steady operational progress with strong cost control capabilities, reporting a revenue of 1415.93 billion yuan for H1 2025, a 1.56% increase year-on-year. The net profit attributable to shareholders reached 44.59 billion yuan, marking a significant increase of 51.56% [3][4]. - The pharmaceutical commercial segment showed growth driven by innovative business models, with sales from innovative drug business and health equipment reaching 242 billion yuan and 225.7 billion yuan respectively, reflecting growth rates of 22.6% and 18.8% [5][6]. - The company has a solid pipeline for new drug development, with several innovative drugs progressing through clinical trials, including I001 for hypertension and B007 for severe myasthenia gravis [6][8]. Financial Summary - For H1 2025, the gross margin was 10.55%, a decrease of 1.05 percentage points, while the net profit margin increased to 3.15%, up by 1.04 percentage points. The company reported a net cash flow from operating activities of 9.89 billion yuan, a substantial increase of 91.98% [4][3]. - Revenue projections for 2025-2027 are estimated at 2866.66 billion yuan, 3014.40 billion yuan, and 3171.40 billion yuan respectively, with net profits expected to be 57.01 billion yuan, 55.38 billion yuan, and 60.74 billion yuan [9][11].

Group 1 - The company Shanghai Pharmaceutical Group Co., Ltd. announced that its subsidiary, Shanghai Xinyi Jinzhu Pharmaceutical Co., Ltd., received a notification from the National Medical Products Administration approving the supplementary application for the drug Dihydroxypropyl Theophylline Injection, which has passed the consistency evaluation of quality and efficacy for generic drugs [1][2] - The drug Dihydroxypropyl Theophylline Injection is indicated for bronchial asthma, wheezing bronchitis, and obstructive pulmonary emphysema, and it was developed by Eisai Co., Ltd. and launched in Japan in October 1952 [2] - As of the announcement date, the company has invested approximately RMB 3.05 million in research and development for this drug [2] Group 2 - The approval of the drug's consistency evaluation is expected to enhance its market share and competitiveness, as products that pass this evaluation will receive greater support in medical insurance payments and procurement by medical institutions [2] - The total procurement amount for Dihydroxypropyl Theophylline Injection (2ml:0.3g) in hospitals in mainland China for 2024 is reported to be RMB 9.737 million [2]

Group 1 - The core point of the article is that Shanghai Pharmaceuticals announced the approval of its dihydroxypropyl theophylline injection by the National Medical Products Administration, indicating that the drug has passed the consistency evaluation of quality and efficacy for generic drugs [2] Group 2 - The drug is produced by Shanghai Xinyi Jinzhu Pharmaceutical Co., Ltd., a subsidiary of Shanghai Pharmaceuticals [2] - The approval signifies a significant milestone for the company in expanding its product portfolio in the pharmaceutical market [2] - The consistency evaluation is crucial for ensuring that generic drugs meet the same standards as their branded counterparts, which can enhance market competitiveness [2]

Core Viewpoint - Shanghai Pharmaceuticals has received approval for its Dihydroxypropyl Theophylline Injection from the National Medical Products Administration, indicating successful completion of the consistency evaluation for generic drug quality and efficacy [1] Company Summary - Shanghai Pharmaceuticals' subsidiary, Shanghai Xinyi Jinzhu Pharmaceutical Co., Ltd., is responsible for the Dihydroxypropyl Theophylline Injection [1] - The approval was granted through a supplementary application, with the notification number 2025B04012 [1] - The drug has passed the consistency evaluation for quality and efficacy as a generic medication [1]

Core Viewpoint - Shanghai Pharmaceuticals has received approval for its Dihydroxypropyl Theophylline Injection from the National Medical Products Administration, indicating successful consistency evaluation for generic drug quality and efficacy [1] Group 1: Company Developments - Shanghai Pharmaceuticals' subsidiary, Shanghai Xinyi Jinzhu Pharmaceutical Co., Ltd., has been granted a Supplementary Application Approval Notice for Dihydroxypropyl Theophylline Injection [1] - The drug is indicated for bronchial asthma, asthmatic bronchitis, obstructive pulmonary emphysema, and symptoms of dyspnea due to cardiogenic pulmonary edema [1] - The company has invested approximately RMB 3.05 million in research and development for this drug as of the announcement date [1] Group 2: Market Insights - According to IQVIA data, the procurement amount for Dihydroxypropyl Theophylline Injection (2ml: 0.3g) in hospitals across mainland China for 2024 is RMB 9.737 million [2] - Major domestic manufacturers of this drug include Jilin Jingsheng Pharmaceutical Co., Shanxi Taiyuan Pharmaceutical Co., and Suicheng Pharmaceutical Co., Ltd. [1]

香港交易及結算所有限公司和香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依賴 該等內容而引致的任何損失承擔任何責任。 上 海 醫 藥 集 團 股 份 有 限 公 司 Shanghai Pharmaceuticals Holding Co., Ltd. * （於中華人民共和國註冊成立的股份有限公司） （股份代碼：02607） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第 13.10B 條而作出。 茲載列上海醫藥集團股份有限公司（「本公司」）在上海證券交易所網站(http://www.sse.com.cn) 刊登的《上海醫藥集團股份有限公司關於二羥丙茶鹼注射液通過仿製藥一致性評價的公告》 僅供參閱。 承董事會命 上海醫藥集團股份有限公司 楊秋華 董事長 中國上海，2025 年 9 月 5 日 於本公告日期，本公司的執行董事為楊秋華先生、沈波先生、李永忠先生及董明 先生；非執行董事為張文學先生；以及獨立非執行董事為顧朝陽先生、霍文遜先 生、王忠先生及萬鈞女士。 * 僅供識別 证券代码：601607 证券简称 ...

Core Viewpoint - Shanghai Pharmaceuticals announced the approval of its Dihydroxypropyl Theophylline Injection by the National Medical Products Administration, indicating successful compliance with the consistency evaluation of generic drug quality and efficacy [1] Company Summary - Shanghai Pharmaceuticals' subsidiary, Shanghai Xinyi Jinzhu Pharmaceutical Co., Ltd., received the approval notification for Dihydroxypropyl Theophylline Injection [1] - The injection is indicated for the relief of symptoms in bronchial asthma, asthmatic bronchitis, obstructive pulmonary emphysema, and can also be used for wheezing due to cardiogenic pulmonary edema [1]

Core Viewpoint - Goldman Sachs reported that Shanghai Pharmaceuticals (02607) had a second-quarter sales of 70.8 billion RMB, a year-on-year increase of 2.3%, which was below expectations, indicating continued weakness across various market segments [1] Financial Performance - The second-quarter recurring net profit was consistent with well-controlled expenditures, but was partially offset by a decline in gross margin [1] - The decline in gross margin was primarily attributed to the ongoing decrease in manufacturing profit margins [1] Earnings Forecast - Goldman Sachs adjusted the company's earnings forecasts for this year, next year, and 2027 to an increase of 33.5%, a decrease of 0.3%, and a decrease of 6.4%, respectively [1] - The target price was lowered from 10.29 HKD to 10.08 HKD, maintaining a "Sell" rating [1]