Core Viewpoint - Zhejiang Haizheng Pharmaceutical Co., Ltd. is involved in a significant arbitration case regarding the buyback of shares from its subsidiary, Zhejiang Daoming Pharmaceutical Technology Co., Ltd., which has implications for its financial obligations and control over the subsidiary [2][3][4]. Group 1: Background and Agreements - In 2017, Haizheng Pharmaceutical approved a financing agreement for its subsidiary Daoming Pharmaceutical, allowing it to borrow 100 million RMB from Shenzhen Songhe Growth No. 1 Equity Investment Partnership, with conditions for share conversion [2]. - The agreement included a buyback clause, which became relevant when Daoming Pharmaceutical failed to meet the conditions for "qualified listing" or "qualified merger" by the end of 2022 [2][3]. - In June 2023, the company reached a settlement regarding the buyback obligations with one of the investors, Shancheng Investment [2]. Group 2: Arbitration Details - The arbitration was conducted by the Hong Kong International Arbitration Centre, with Genius III Found Limited as the claimant, seeking a buyback of 805,249 shares of Cayman Daoming [3]. - The arbitration ruling mandated Haizheng Pharmaceutical and DTRM Innovation to jointly repurchase the shares for a total price of approximately 129.44 million RMB [3][4]. - The ruling also included provisions for the payment of legal fees and interest on the amounts owed, with a specified interest rate of 6% per annum until payment is made [4]. Group 3: Financial Implications - The company has recognized a financial liability of 34.43 million RMB in its financial statements related to the buyback obligation, which will impact its net profit for the first half of 2025 [4]. - The arbitration outcome clarifies the financial obligations of the company and DTRM Innovation regarding the buyback, which is expected to affect the company's consolidated financial statements [4].

证券代码：600267 证券简称：海正药业 公告编号：临 2025-40 号 浙江海正药业股份有限公司 关于浙江导明医药科技有限公司增资及债转股事项 的进展公告 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。 浙江海正药业股份有限公司（以下简称"公司"或"海正药业"）于2017 年8月9日召开的第七届董事会第十五次会议审议通过了《关于控股子公司浙江导 明医药科技有限公司对外融资的议案》，同意公司控股子公司浙江导明医药科技 有限公司（以下简称"导明医药"）向深圳市松禾成长一号股权投资合伙企业（有 限合伙）（以下简称"松禾成长一号"）借款1亿元人民币（附转股条件）。公 司于2017年12月29日召开的2017年第六次临时股东大会审议通过了《关于浙江导 明医药科技有限公司引进外部投资者实施增资及债转股事项的议案》，根据债转 股协议的约定，松禾成长一号将1亿元人民币借款在本轮增资实施时按同样条件 转为对导明医药的股本，同日，导明医药时任各股东海正药业、DTRM Innovation LLC（以下简称"DTRM Innovation"， ...

Group 1 - Leshan Electric achieved operating revenue of 1.623 billion yuan, a year-on-year increase of 1.94%, and a net profit of 7.9031 million yuan, a year-on-year decrease of 14.55% [1] - Zhimingda reported operating revenue of 295 million yuan, a year-on-year increase of 84.83%, and a net profit of 38.3 million yuan, a year-on-year increase of 2147.93% [2] - Dahu Co. reported operating revenue of 426 million yuan, a year-on-year decrease of 14.40%, and a net loss of 2.5716 million yuan, an improvement from a loss of 13.7824 million yuan in the same period last year [3] - Yubang Electric expects a net profit of 21.2 million to 25 million yuan, a year-on-year decrease of 35.47% to 45.28% [4] - Zhejiang Securities achieved operating revenue of 6.512 billion yuan, a year-on-year decrease of 18.60%, and a net profit of 1.149 billion yuan, a year-on-year increase of 46.54% [5] - Huashu Media reported operating revenue of 4.435 billion yuan, a year-on-year increase of 2.07%, and a net profit of 254 million yuan, a year-on-year increase of 4.63% [7] Group 2 - Sinopec reported oil and gas equivalent production of 262.81 million barrels, a year-on-year increase of 2%, and crude oil processing volume of 119.97 million tons, a year-on-year decrease of 5.3% [8] - Hengrui Medicine's subsidiary received approval for clinical trials of HRS8179, aimed at reducing brain edema after stroke [8] - Hengrui Medicine's subsidiary also received approval for clinical trials of HRS-1893, intended for treating heart failure with preserved ejection fraction [8] - Wanfu Co. announced a plan to reduce its stake by up to 2% through block trading [10] - Biological Co. received a warning letter from the Inner Mongolia Securities Regulatory Bureau for inaccuracies in financial reporting [11] - Zhujiang Co. reported a signed construction area of 47.1432 million square meters across 396 projects [13] Group 3 - Watson Bio received a patent for a peptide delivery system for RNA drugs [15] - Sanwei Chemical signed 31 new contracts worth 335 million yuan in the second quarter [17] - Shenzhou Cell's SCT640C injection received approval for clinical trials for rheumatoid arthritis [18] - Xinjiang Jiaojian reported new contracts worth 1.434 billion yuan in the second quarter [19] - Lais Information plans to use 550 million yuan of idle funds for cash management [21] - Zhongqi New Materials signed a mining rights transfer contract, increasing production capacity [22] Group 4 - Hengtong Optic-Electric won multiple marine energy projects worth 1.509 billion yuan [24] - China State Construction signed new contracts totaling 2.501 trillion yuan in the first half of the year [26] - David Medical's ventilator product registration application has been accepted [28] - Tianhai Defense's subsidiary signed a construction contract worth 16.224 million yuan [29] - Nantian Information plans to sign a procurement framework contract worth 58.27 million yuan with its controlling shareholder [31] - Baida Group announced a plan to reduce its stake by up to 3% [32] Group 5 - Jinli Permanent Magnet plans to issue $117.5 million in convertible bonds [34] - Haizheng Pharmaceutical's fumarate bedaquiline raw material drug application has been approved [36] - Huatai passed the advanced intelligent factory re-evaluation in Anhui Province [37] - Everbright Bank's shareholder increased its stake from 7.08% to 8% [40] - Supor reported total operating revenue of 11.478 billion yuan, a year-on-year increase of 4.68%, and a net profit of 940 million yuan, a year-on-year decrease of 0.07% [41] - Qianjin Pharmaceutical's subsidiaries received registration certificates for two drugs [42]

证券代码：600267 证券简称：海正药业 公告编号：临 2025-39 号 浙江海正药业股份有限公司 关于富马酸贝达喹啉原料药获得《化学原料药上市申 请批准通知书》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。 近日，浙江海正药业股份有限公司（以下简称"公司"）收到国家药品监督 管理局（以下简称"国家药监局"）核准签发的富马酸贝达喹啉原料药的《化学 原料药上市申请批准通知书》。现就相关情况公告如下： 一、该药品的基本情况 化学原料药名称：富马酸贝达喹啉 通知书编号：2025YS00590 化学原料药注册标准编号：YBY67102025 包装规格：20kg/袋 登记号：Y20230001222 据统计，富马酸贝达喹啉原料药 2024 年全球销售量约为 1,482.57 公斤，其 中国内销售量约为 151.08 公斤；2025 年 1-3 月全球销售量约为 167.39 公斤，其 中国内销售量约为 37.43 公斤（数据来源于 IQVIA 数据库）。 2024 年 1 月 5 日，国家药监局受理了公司递交的富马酸贝达喹啉 ...

Summary of Key Points from the Conference Call Company and Industry Overview - **Company**: 海正药业 (Haizheng Pharmaceutical) and 博瑞生物 (Borui Biopharmaceutical) - **Industry**: Pharmaceutical and Biotechnology Core Insights and Arguments Haizheng Pharmaceutical 1. **Transformation and Innovation**: Haizheng is actively transforming by enhancing its innovative drug pipeline through internal R&D and external collaborations, focusing on products like HS387 and Haibo Maibu tablets, which saw a 100% annual sales growth after entering the medical insurance system [2][3] 2. **Leadership Changes**: The new leadership under CEO Xiao has brought significant changes, improving operational efficiency and achieving record high net profits [8][9] 3. **Product Strategy**: The company is implementing a "big product" strategy, aiming for substantial sales from key products, including Haibo Maibu, projected to reach sales of 800 to 1,000 million [9] Borui Biopharmaceutical 1. **Growth Since Spin-off**: Since its spin-off in 2019, Borui has expanded its commercial product line from 1 to 7.5 products, with revenue increasing from 200 million to 1.63 billion, reflecting a compound annual growth rate of approximately 35% [2][5] 2. **Innovative Drug Development**: Borui has made significant strides in innovative drugs, including the launch of Anruixin (Zebetomab), the first Class 1 innovative drug in China, and is focusing on autoimmune and tumor immunity fields [6][7] 3. **ADC Platform**: Borui's unique approach in the ADC (Antibody-Drug Conjugate) platform, utilizing dual payload toxins and stable linker technology, enhances efficacy and reduces toxicity, positioning it competitively in the market [12][13] Additional Important Insights 1. **Market Expansion**: Borui is exploring the pet economy and has established a leading position in veterinary medicine, while also expanding into medical aesthetics and e-commerce channels [10][9] 2. **Future Revenue Goals**: Borui aims to achieve over 7.5 billion in revenue by 2029-2030, with expectations of significant contributions from various product lines [27][28] 3. **IPO Plans**: Borui is actively pursuing an IPO on the Sci-Tech Innovation Board, with a pre-IPO valuation of 13 billion as of late 2022, and is expected to meet listing conditions by June 2023 [29][22] This summary encapsulates the key developments and strategic directions of Haizheng Pharmaceutical and Borui Biopharmaceutical, highlighting their growth trajectories, innovative strategies, and market positioning within the pharmaceutical industry.

Group 1 - The animal vaccine sector saw a rise of 2.91%, leading the concept sectors in growth, with 16 stocks increasing in value, including BioShares which hit the daily limit, and others like Kexing Pharmaceutical and Ruipu Bio rising by 7.15%, 5.65%, and 3.56% respectively [1] - The main inflow of funds into the animal vaccine sector was 281 million yuan, with 10 stocks receiving net inflows, and 6 stocks seeing inflows exceeding 10 million yuan, led by BioShares with a net inflow of 159 million yuan [1] - The top stocks by net inflow included Haizheng Pharmaceutical, Kexing Pharmaceutical, and Ruipu Bio, with net inflows of 53.91 million yuan, 52.39 million yuan, and 28.10 million yuan respectively [1] Group 2 - In terms of fund inflow ratios, BioShares, Kexing Pharmaceutical, and Luoniushan had the highest net inflow rates at 19.39%, 9.63%, and 8.85% respectively [2] - The animal vaccine concept fund inflow rankings showed BioShares with a daily increase of 10.04% and a turnover rate of 8.74%, while Haizheng Pharmaceutical and Kexing Pharmaceutical followed with increases of 2.71% and 7.15% respectively [2] - Other notable stocks included Ruipu Bio with a 5.65% increase and a turnover rate of 9.16%, and Luoniushan with a 3.49% increase and a turnover rate of 4.43% [2]

Group 1 - The Alzheimer's concept sector increased by 2.28%, ranking fifth among concept sectors, with 27 stocks rising, including Wanbangde, Lisheng Pharmaceutical, and Zhejiang Zhenyuan reaching the daily limit [1] - Notable gainers in the sector included Jihua Group, Xinhua Pharmaceutical, and Boji Pharmaceutical, which rose by 5.85%, 4.98%, and 4.93% respectively [1] - The sector experienced a net inflow of 498 million yuan from main funds, with 21 stocks receiving net inflows, and six stocks seeing inflows exceeding 50 million yuan [2] Group 2 - The top stock in terms of net inflow was Huahai Pharmaceutical, with a net inflow of 87.51 million yuan, followed by Boji Pharmaceutical, Jihua Group, and Haizheng Pharmaceutical with inflows of 55.18 million yuan, 54.13 million yuan, and 53.91 million yuan respectively [2][3] - Zhejiang Zhenyuan and Boji Pharmaceutical had the highest net inflow ratios at 29.25% and 16.16% respectively [3] - The overall performance of the Alzheimer's concept sector was supported by significant trading volumes, with stocks like Lisheng Pharmaceutical and Wanbangde showing substantial price increases of 10% [4]

Group 1 - The core viewpoint of the news is that the Artemisinin concept sector has seen a significant increase, with a rise of 2.65%, ranking third among concept sectors in terms of growth [1] - Within the Artemisinin concept sector, 10 stocks experienced an increase, with Rundu Co., Ltd. hitting the daily limit, and notable gains from Fosun Pharma, China Resources Sanjiu, and Haizheng Pharmaceutical, which rose by 3.94%, 3.10%, and 2.71% respectively [1][2] - The sector attracted a net inflow of 369 million yuan from main funds, with seven stocks receiving net inflows, and five stocks seeing inflows exceeding 30 million yuan [2] Group 2 - The leading stock in terms of net inflow was Rundu Co., Ltd., which saw a net inflow of 145 million yuan, followed by Fosun Pharma, Haizheng Pharmaceutical, and Zhejiang Medicine with net inflows of 101 million yuan, 53.91 million yuan, and 50.35 million yuan respectively [2][3] - In terms of fund inflow ratios, Rundu Co., Ltd., Zhejiang Medicine, and China Resources Sanjiu had the highest ratios, with net inflow rates of 42.20%, 11.87%, and 8.44% respectively [3] - The trading performance of the top stocks in the Artemisinin concept sector showed significant turnover rates, with Rundu Co., Ltd. at 10.26%, Fosun Pharma at 2.30%, and Haizheng Pharmaceutical at 5.63% [3]

Group 1 - The core project is the flexible production line renovation project for synthetic biology at Zhejiang Haizheng Pharmaceutical Co., Ltd., with a total investment of 171.06 million yuan, including 5.1 million yuan for environmental protection [2][4]. - The project aims to produce 72,000 tons of 60% liquid glucose, 93,816 tons of 30% liquid glucose, 1,500 tons of yeast, and various other products annually, including 2,000 tons of HS31101 sulfate and 1,000 tons of HS31101 hydrochloride [2][3]. - The project will utilize existing production lines in the Y108, Y109, Y110, Y112, and Y27 workshops at the Yantou plant [2][3]. Group 2 - The fourth Synthetic Biology and Green Bio-Manufacturing Conference (SynBioCon 2025) will be held in Ningbo, Zhejiang, from August 20 to 22, focusing on five key areas: AI + biological manufacturing, green chemicals and new materials, future food, future agriculture, and beauty raw materials [5][6]. - The conference aims to explore the development trends of the bio-manufacturing industry during the 14th Five-Year Plan and discuss innovative technologies and products that will sustain the industry [5].

Group 1 - The Alzheimer's concept sector rose by 1.80%, leading the gains among concept sectors, with 18 stocks increasing in value [1][2] - Notable gainers included Hotgen Biotech with a 20% limit up, and other companies like Jingxin Pharmaceutical and Haizheng Pharmaceutical also reached their limit up [1][2] - The sector saw a net inflow of 372 million yuan from main funds, with 17 stocks receiving net inflows, and six stocks exceeding 30 million yuan in net inflow [2][3] Group 2 - The top three stocks by net inflow were Haizheng Pharmaceutical (105 million yuan), Jingxin Pharmaceutical (88.79 million yuan), and Hotgen Biotech (79.62 million yuan) [2][3] - The net inflow ratios for leading stocks were 9.03% for Haizheng Pharmaceutical, 7.51% for Jingxin Pharmaceutical, and 8.09% for Hotgen Biotech [3][4] - Stocks with significant declines included Fujilai, Wohua Pharmaceutical, and Wanbangde, with declines of 1.61%, 1.30%, and 1.29% respectively [1][5]