Core Viewpoint - The company has decided to terminate the clinical research and development of the SY-009 project after a careful evaluation of its progress, investment risks, and future market value [2] Group 1 - The decision to halt the SY-009 project is aimed at rationally allocating the company's research and development resources [2] - The company will fully recognize the impairment of the capitalized amount related to the SY-009 project based on accounting prudence principles [2] - The focus will now shift to the company's advantageous projects within its research pipeline [2]

Group 1 - Xinxiang Chemical Fiber will suspend production for approximately 90 days starting October 1, 2025, affecting an annual capacity of 31,200 tons, resulting in a revenue decrease of approximately 185 million yuan and a profit reduction of about 48 million yuan [1] - Bozhong Precision plans to transfer 18.29% of its stake in Suzhou Linghou Robot for 64 million yuan, retaining a 21.61% ownership post-transaction [1] - Haixing Electric is a recommended candidate for a State Grid procurement project, with an expected bid amount of approximately 128 million yuan [2] Group 2 - Samsung Medical is a recommended candidate for multiple State Grid procurement projects, with a total expected bid amount of approximately 193 million yuan [2][3] - Youxunda is a recommended candidate for a State Grid procurement project, with a bid amount of approximately 107 million yuan, representing 10.55% of its 2024 revenue [3] - Tiancheng Self-Control has received a notification for a seat assembly project from a well-known domestic new energy vehicle company, expected to start mass production in June 2026 [4] Group 3 - YKYY013 injection has received FDA approval for clinical trials to treat chronic hepatitis B virus infection [4] - Pulaide has signed a strategic cooperation agreement with an international electric tool brand, with a total procurement amount exceeding 700 million yuan over five years [4] - Sichuan Shuangma's subsidiary has obtained GMP certification from Russia, covering core aspects of drug quality and production systems [6] Group 4 - Boshi Co. has signed an industrial service contract worth approximately 96.99 million yuan with Guoneng Baotou Coal Chemical [7] - Wansheng Intelligent is a recommended candidate for a State Grid project, with an expected bid amount of approximately 67.98 million yuan, representing 7.25% of its 2024 revenue [9][10] - Huazi Industrial plans to sell its dairy farm assets for 38.5 million yuan, expecting a positive impact of approximately 11.7 million yuan on its current profits [10] Group 5 - Jinguang Electric has won a State Grid project with a total bid amount of approximately 28.4 million yuan, accounting for 3.82% of its 2024 revenue [11] - Nanjiao Food reported a net profit of 10,410 yuan for August, a year-on-year decrease of 98.31% [13] - Dongfang Bio's subsidiary has obtained registration certificates for two medical device products [15] Group 6 - Lanhua Kecai has signed a strategic cooperation agreement with Shanghai Pangu Power to promote intelligent and efficient transformation in the coal mining industry [17] - Yabao Pharmaceutical has decided to terminate the SY-009 research project, with a total investment of approximately 87.87 million yuan to be fully impaired [18] - Tian Shili's subsidiary has received approval for a new indication for its recombinant human urokinase injection for acute ischemic stroke treatment [20] Group 7 - Su Yan Jingshen's executives plan to increase their shareholding in the company, with a total investment of between 1.9 million and 2.66 million yuan [22] - Baiyun Electric and its subsidiary have won a State Grid project with a total bid amount of approximately 162 million yuan, covering multiple equipment types [23] - China West Electric's director has resigned due to work reasons, effective September 19, 2025 [25] Group 8 - Jianan Intelligent is a recommended candidate for a State Grid project with a total expected bid amount of approximately 73.12 million yuan [26] - Juhua Technology is a recommended candidate for a State Grid project with a total expected bid amount of approximately 142 million yuan [27] - Tengyuan Cobalt's actual controller has committed not to reduce holdings for the next 12 months, holding 37.89% of the total shares [28] Group 9 - Changfei Optical Fiber announced that Draka Comteq B.V. no longer holds H shares in the company after selling 37.59 million shares [28] - Mongcao Ecological's subsidiary has signed a contract for an ecological restoration project worth 225.2 million yuan [29] - Weiao Co. plans to distribute a cash dividend of 0.1 yuan per share, totaling approximately 39.29 million yuan [30]

Core Viewpoint - The company has decided to terminate the clinical research and development of the SY-009 project due to the assessment of its progress, investment risks, and future market value, aiming to allocate resources more effectively to its advantageous projects [1][2] Group 1: Project Termination - The company announced the termination of the SY-009 clinical research project after careful evaluation of its progress and associated risks [1] - The Phase II clinical study results indicated a relationship between dose and effect, but the primary efficacy endpoint was not met, leading to uncertainty in further development [1] - The decision was made following recommendations from the scientific committee and approval from the company's president and chairman [1] Group 2: Financial Implications - The company has fully recognized an asset impairment provision of 55.7933 million yuan for the SY-009 project due to the termination of its clinical research and the lack of potential buyers for related proprietary technology [2]

证券代码：600351 证券简称：亚宝药业 公告编号：2025-033 亚宝药业集团股份有限公司 剂型：胶囊剂 规格：0.5mg、5mg 注册分类：化学药品第 1 类 关于研发项目终止临床试验并计提减值准备的公告 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，亚宝药业集团股份有限公司（以下简称"公司"）对 SY-009 研发项目 （以下简称"SY-009"）进行了审慎评估，综合项目进展情况、继续开发的投入 风险和未来的市场价值等多种因素，为合理配置公司研发资源，聚焦研发管线中 的优势项目，公司决定终止 SY-009 的临床研究开发工作，同时根据《企业会计 准则》等相关规定，基于会计谨慎性原则，将该项目研发资本化金额全额计提资 产减值准备，现将有关情况公告如下： 一、终止临床试验的药物基本信息 药品名称：SY-009 胶囊 批件号：2018L02807、2018L02808、2024LP02207 二、药物研发相关情况及终止原因说明 申请人：亚宝药业集团股份有限公司、苏州亚宝药物研发有限公司 （一）研发相关情况 SY-0 ...

Core Viewpoint - The company has decided to terminate the clinical research and development of the SY-009 project after a careful evaluation of various factors including project progress, investment risks, and future market value [1] Group 1 - The company will focus its research and development resources on more advantageous projects within its pipeline [1] - The decision to terminate SY-009 is based on a comprehensive assessment of the project's status and associated risks [1] - The company will fully recognize an impairment provision for the capitalized research and development costs of the SY-009 project in accordance with accounting prudence principles [1]

Core Viewpoint - The company has decided to terminate the clinical research and development of the SY-009 project after a careful evaluation of various factors, including project progress, investment risks, and future market value [1] Group 1: Project Termination - The company will focus its research resources on more advantageous projects within its pipeline [1] - The decision to terminate SY-009 will lead to a full impairment provision for the capitalized R&D amount of the project [1] Group 2: Financial Impact - The impairment provision will reduce the company's total profit for the year 2025 by 55.7933 million yuan [1] - The financial data mentioned is unaudited, and the final accounting treatment will be confirmed in the company's 2025 annual report [1]

Core Points - The company has decided to terminate the clinical research and development of SY-009, a sodium-glucose co-transporter 1 inhibitor intended for the treatment of type 2 diabetes [1] - The total investment in the development of SY-009 amounts to 87.8698 million yuan, with 32.0765 million yuan expensed and 55.7933 million yuan capitalized [1] - The impairment provision will reduce the company's total profit for the year 2025 by 55.7933 million yuan [1]

Core Viewpoint - The company has decided to terminate the clinical research and development of SY-009 capsules, leading to a full impairment of the capitalized R&D amount of 55.7933 million yuan, which will reduce the company's total profit for 2025 by the same amount [1] Group 1: Project Termination - The company announced the termination of the clinical research for SY-009 capsules [1] - SY-009 is a sodium-glucose co-transporter 1 inhibitor aimed at reducing postprandial glucose absorption for the treatment of type 2 diabetes [1] Group 2: Financial Impact - The impairment of the R&D capitalized amount of 55.7933 million yuan will directly impact the company's profit for the year 2025 [1] Group 3: Clinical Trial Results - Phase II clinical trial results indicated a relationship between dosage and efficacy, but the primary efficacy endpoint was not met [1] - The company faces significant uncertainty regarding further R&D investments and the time required to conduct additional trials [1]

Core Viewpoint - The company has decided to terminate the clinical research and development of the SY-009 project after careful evaluation of its progress, investment risks, and future market value [1] Group 1: Project Termination - The company will cease the clinical research and development of SY-009 to better allocate its R&D resources towards more advantageous projects in its pipeline [1] - The decision was influenced by various factors including project progress, development investment risks, and potential market value [1] Group 2: Financial Impact - The company will fully recognize an impairment provision for the capitalized R&D amount of the SY-009 project, which will reduce the total profit for the year 2025 by 55.7933 million yuan [1] - The impairment provision is based on the principle of accounting prudence and will be reflected in the company's 2025 annual report [1]

Overview - The core viewpoint of the article highlights the growing demand for traditional Chinese medicine (TCM) transdermal patches due to their advantages such as no first-pass effect, minimal gastrointestinal damage, low toxicity, prolonged efficacy, and ease of use, particularly among populations that cannot take oral medications, like the elderly and children [1][4][8]. Market Size - The market size of TCM transdermal patches in China is projected to reach 14 billion yuan by 2024, accounting for 65.34% of the overall medicinal patch market [1][8]. Market Policies - The Chinese government has implemented various policies to support the development of the TCM industry, including measures to enhance scientific regulation, promote innovation, and improve healthcare quality from 2023 to 2025 [5][6]. Industry Chain - The upstream of the TCM transdermal patch industry includes suppliers of raw materials such as Chinese medicinal herbs, rubber, and various excipients, while the midstream consists of manufacturers of TCM transdermal patches, and the downstream includes medical institutions, retail pharmacies, and online pharmacies [6][7]. Sales Channels - Medical institutions are the primary sales channel for TCM transdermal patches, accounting for over 60% of sales. By the end of 2024, there will be approximately 1.092 million medical institutions in China, with a 2.0% year-on-year growth [7][8]. Competitive Landscape - The top five companies in the TCM transdermal patch market as of Q1 2025 include Qizheng Group, Yunnan Baiyao, Lingrui Pharmaceutical, Hillman Pharmaceutical, and China Resources Pharmaceutical, with Qizheng Group and Yunnan Baiyao leading the market [10][11]. Company Analysis - Qizheng Tibetan Medicine Co., Ltd. is a leading modern Tibetan medicine company with a revenue of 1.175 billion yuan in the first half of 2025, of which 824 million yuan (70.11%) comes from transdermal patch sales [12]. - Lingrui Pharmaceutical Co., Ltd. reported a total revenue of 2.099 billion yuan in the first half of 2025, with a gross profit of 1.707 billion yuan and a gross margin of 81.33% [13]. Development Trends - The demand for TCM transdermal patches is expected to grow due to the aging population and increasing prevalence of musculoskeletal and cardiovascular diseases. Additionally, the shift in health consciousness and the rise of online sales channels will further expand the market [13].