证券代码：600079 证券简称：人福医药 编号：临 2025-109 人福医药集团股份公司 关于玉蚕颗粒进入 II 期临床试验研究的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误 导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法 律责任。 二、玉蚕颗粒主要情况介绍 玉蚕颗粒处方来源于上海中医药大学附属曙光医院肾病科的临床经验方，在曙光医 院临床应用多年，按照中药注册分类1.1类中药创新药要求申请临床试验，功能主治为"补 脾益肾，活血利水。用于脾肾气虚、湿瘀阻络证糖尿病肾脏疾病蛋白尿的治疗"。目前 国内治疗糖尿病肾病的中成药已有渴络欣胶囊和芪蛭益肾胶囊获批上市，根据米内网数 据显示，2024年度渴络欣胶囊和芪蛭益肾胶囊全国销售额（统计范围包括城市公立医院、 县级公立医院、城市药店）合计约为人民币8,000万元，生产厂商分别为四川济生堂药业 有限公司和山东凤凰制药股份有限公司。玉蚕颗粒由创新药研发中心和上海复活石医药 科技有限公司联合开发及申报，于2024年11月获得国家药品监督管理局颁发的《药物临 床试验批准通知书》，根据双方签订的合同，该项目的所有技术成果及各项知识产权由 创 ...

Core Viewpoint - The announcement by Renfu Pharmaceutical regarding the initiation of a Phase II clinical trial for Yucan Granules aimed at treating diabetic kidney disease with significant albuminuria highlights the company's commitment to advancing its research and development efforts in the pharmaceutical sector [1] Company Summary - Renfu Pharmaceutical's wholly-owned subsidiary, Wuhan Renfu Innovative Drug Research Center, has registered a Phase II clinical trial for Yucan Granules on the National Medical Products Administration's platform [1] - The trial is designed as a multicenter, randomized, double-blind, placebo-controlled study [1] - The primary objective of the trial is to evaluate the efficacy and safety of Yucan Granules in treating diabetic kidney disease with significant albuminuria and to explore dosage for future Phase III clinical research [1]

试验名称：玉蚕颗粒治疗糖尿病肾脏疾病显性白蛋白尿的多中心、随机、双盲、安慰剂平行对照Ⅱ期临 床试验。试验目的：初步评价玉蚕颗粒治疗糖尿病肾脏疾病显性白蛋白尿的有效性与安全性并探索剂 量，为III期临床研究提供依据。 智通财经APP讯，人福医药(600079.SH)发布公告，公司全资子公司武汉人福创新药物研发中心有限公 司(简称"创新药研发中心")近日在国家药品监督管理局药物临床试验登记与信息公示平台公示了II期临 床试验登记信息。 ...

Core Viewpoint - The announcement indicates that Renfu Pharmaceutical's subsidiary has registered a Phase II clinical trial for a new drug aimed at treating diabetic kidney disease with significant albuminuria, which may provide insights for future Phase III studies [1] Group 1: Clinical Trial Details - The trial is named "Yucan Granules for the Treatment of Diabetic Kidney Disease with Significant Albuminuria: A Multicenter, Randomized, Double-Blind, Placebo-Controlled Phase II Clinical Trial" [1] - The primary objective of the trial is to preliminarily evaluate the efficacy and safety of Yucan Granules in treating diabetic kidney disease with significant albuminuria and to explore dosage options [1] - The trial results are expected to provide a basis for the subsequent Phase III clinical research [1]

Core Insights - The 17th China Bio-Industry Conference was held on September 4, 2025, in Wuhan, showcasing the latest innovations in the bio-manufacturing sector [1][3] - The conference highlighted the achievements of Wuhan's Optics Valley Bio-City, which has become a leading hub for biopharmaceuticals in China, housing over 4,200 companies and nurturing 531 high-tech enterprises [3][6] Group 1: Event Highlights - The conference released the "Most Innovative Bio-Manufacturing Base" list, recognizing ten national bio-industry bases, including Wuhan, Shanghai, Beijing, Hangzhou, and Shenzhen [1] - Five companies from Wuhan, including He Yuan Bio, Aibotai, and Youzhiyou, were ranked among the top 20 most innovative enterprises from hundreds of projects across 23 national bio-industry bases [1] Group 2: Achievements in Bio-Medicine - In the first half of the year, Optics Valley Bio-City approved 14 new class I innovative drugs for clinical trials, the highest number in three years, and 28 class III medical devices, matching last year's total [4] - The city is currently developing over 400 class I new drugs, accounting for 90% of the province's total, and has certified over 307 class III medical devices, representing 70% of the province's total [4] Group 3: Notable Exhibits - Major companies from Optics Valley Bio-City showcased groundbreaking products at the conference, including the world's first 5.0T whole-body MRI system and a novel "rice-derived" recombinant human albumin injection [4] - Binhui Bio's OH2 injection, the first oncolytic virus drug using type II herpes simplex virus as a carrier, is undergoing critical clinical research and has received national support for major new drug development [4]

Core Viewpoint - The report from Pacific Securities indicates that Renfu Pharmaceutical's revenue for the first half of 2025 reached 12.064 billion yuan, a year-on-year decrease of 6.20%, primarily due to structural reforms in the pharmaceutical payment sector and the company's focus on optimizing its business structure. However, the net profit attributable to the parent company was 1.155 billion yuan, reflecting a year-on-year increase of 3.92% [1] Group 1: Financial Performance - Revenue for the first half of 2025 was 12.064 billion yuan, down 6.20% year-on-year [1] - Net profit attributable to the parent company was 1.155 billion yuan, up 3.92% year-on-year [1] Group 2: Business Strategy and Development - Renfu Pharmaceutical is accelerating its strategic transformation from generic drugs to innovative drugs, with R&D investment reaching 743 million yuan in the first half of 2025, an increase of 5.32% year-on-year [1] - The company is focusing on core products in the fields of neurological drugs and steroid hormones [1] Group 3: Product Development and Approvals - The subsidiary's new drug, recombinant plasmid-hepatocyte growth factor injection, has completed production site verification and clinical site verification [1] - Several projects, including HWS116 injection, CXJM-66 injection, HW231019 tablets, RFUS-949 tablets, HW201877 capsules, RFUS-301 injection, and esketamine hydrochloride injection, have received clinical approval [1] Group 4: Market Position - Yichang Renfu is the largest designated research and production base for anesthetic drugs in Asia and the most comprehensive commercial producer of fentanyl series products globally, holding over 60% of the domestic market share for anesthetic drugs [1]

Investment Rating - The report maintains a "Buy" rating for Renfu Pharmaceutical (600079) [1][7] Core Views - Renfu Pharmaceutical's core business shows stable growth, particularly in the neurology medication sector, while its subsidiaries are achieving significant results in innovation and transformation [1][5][6] - The company reported a revenue of 12.064 billion yuan for the first half of 2025, a year-on-year decrease of 6.20%, primarily due to structural reforms in the pharmaceutical payment sector and ongoing optimization of its business structure [4] - The net profit attributable to shareholders reached 1.155 billion yuan, reflecting a year-on-year increase of 3.92% [4] Summary by Sections Neurology Medication Growth - Yichang Renfu, the largest designated research and production base for anesthetics in Asia, holds over 60% of the domestic market share for anesthetic drugs [5] - In the first half of 2025, Yichang Renfu achieved a revenue of 4.423 billion yuan, a decrease of 1.75%, while net profit increased by 0.49% to 1.432 billion yuan [5] - Revenue from neurology medications reached approximately 3.9 billion yuan, with a year-on-year growth of about 4%, driven by strong sales of products like remifentanil and sufentanil [5] Innovation and Transformation - The company is accelerating its strategic shift from generic drugs to innovative drugs, with R&D investment reaching 743 million yuan in the first half of 2025, a year-on-year increase of 5.32% [6] - A total of 14 new products across 21 specifications have been approved, supporting the development of various product lines, including new neurology and steroid hormone medications [6] Financial Forecast and Projections - The company forecasts revenues of 26.7 billion yuan, 28.2 billion yuan, and 29.9 billion yuan for 2025, 2026, and 2027, respectively, with year-on-year growth rates of 4.87%, 5.85%, and 6.01% [7][9] - Net profit attributable to shareholders is projected to be 2.3 billion yuan, 2.5 billion yuan, and 2.7 billion yuan for the same years, with significant growth expected in 2025 at 70.04% [7][9] - The earnings per share (EPS) are expected to be 1.39 yuan, 1.50 yuan, and 1.63 yuan for 2025, 2026, and 2027, respectively, with corresponding price-to-earnings (PE) ratios of 15, 14, and 13 times [7][9]

Meeting Details - The meeting is scheduled for September 12, 2025, at 14:00 [1] - The location is at the conference room of Renfu Pharmaceutical Group in Wuhan [1] - Voting will be conducted both on-site and through the Shanghai Stock Exchange online voting system [1] Agenda - The meeting will start with the announcement of attendance and reading of the meeting guidelines [2] - Shareholders will review two main proposals: 1. Reappointment of Da Xin Accounting Firm as the auditor for the fiscal year 2025 [5] 2. Signing a financial services agreement with China Merchants Group Finance Co., Ltd. [10] Proposal 1: Reappointment of Da Xin Accounting Firm - The company proposes to reappoint Da Xin Accounting Firm for the 2025 financial year, with the audit fee not exceeding the 2024 fee of 5.2 million yuan [5][9] - Da Xin Accounting Firm has over 30 years of experience in securities services and has a network of 39 member firms globally [6] - The firm had a total revenue of 1.378 billion yuan in 2024, with 405 million yuan from securities services [6] Proposal 2: Financial Services Agreement with China Merchants Group Finance Co., Ltd. - The agreement aims to enhance the company's financing channels and reduce financing costs, with a maximum daily deposit balance of 200 million yuan and a maximum loan balance of 500 million yuan [10][11] - The agreement is classified as a related party transaction due to the ownership structure of China Merchants Group Finance Co., Ltd. [11] - The financial services agreement is set for a duration of three years [13]

Group 1 - The fentanyl concept sector increased by 0.65%, ranking first among concept sectors, with two stocks rising, including Renfu Pharmaceutical which hit the daily limit [1] - The main funds net inflow into the fentanyl concept sector was 577 million yuan, with Renfu Pharmaceutical receiving the largest net inflow of 571 million yuan [2][3] - The net inflow ratios for leading stocks in the fentanyl concept were 18.07% for Renfu Pharmaceutical, 8.67% for Enhua Pharmaceutical, and 2.06% for Lingrui Pharmaceutical [3] Group 2 - The stocks with the largest declines in the fentanyl concept sector included Dongfang Biology, Wanfu Biology, and Botuo Biology, with declines of 1.88%, 1.54%, and 1.36% respectively [1][2] - The trading volume and turnover rates for the leading stocks in the fentanyl concept were notable, with Renfu Pharmaceutical showing a turnover rate of 9.23% [3]

人福医药集团股份公司 人福医药集团股份公司 2025年第四次临时股东会会议议程 一、会议时间： （一）会议时间：2025年9月12日（星期五）下午 14:00； （二）网络投票起止时间：自2025年9月12日至2025年9月12日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股东会召 开当日的交易时间段，即9:15-9:25，9:30-11:30，13:00-15:00；通过互联网投票平台的投 票时间为股东会召开当日的9:15-15:00； 二、现场会议地点：武汉市东湖高新区高新大道666号人福医药集团会议室； 2025 年第四次临时股东会 会 议 资 料 二〇二五年九月 人福医药 2025 年第四次临时股东会会议资料 三、会议议程： （一）会议主持人宣布会议开始，介绍本次股东会的出席情况； （二）宣读公司2025年第四次临时股东会会议须知； （三）股东审议以下议案： | 序号 | 议案名称 | | --- | --- | | 非累积投票议案 | | | 1 | 关于续聘大信会计师事务所（特殊普通合伙）为公司 2025 年度审计机 构的议案 | | 2 | 关于与招商局集团财务有限公司签订 ...