Core Viewpoint - Tonghua Dongbao (600867.SH) has received approval from the Ministry of Health of the Republic of the Union of Myanmar for the marketing of its product, Insulin Glargine Injection, which is a long-acting insulin analog that helps to stabilize blood sugar levels in patients [1] Group 1 - The product Insulin Glargine is designed to provide a steady reduction in blood sugar levels for patients [1] - In 2024, the average annual expenditure related to diabetes for patients in Myanmar is projected to be $164.1 [1]

Core Insights - Tonghua Dongbao focuses on the research and development of drugs for diabetes and other endocrine diseases, aiming to provide comprehensive solutions for patients in these areas [1][2] - The company reported a significant increase in revenue and profit for the first half of 2025, with a revenue of 1.373 billion yuan, representing an 85.6% year-on-year growth, and a net profit of 218 million yuan, compared to a loss of 23 million yuan in the same period last year [1] Financial Performance - In the first half of 2025, Tonghua Dongbao achieved operating revenue of 1.373 billion yuan, up 85.6% year-on-year [1] - The net profit attributable to shareholders was 218 million yuan, a turnaround from a loss of 23 million yuan in the previous year [1] - The basic earnings per share were reported at 0.11 yuan [1] Market Strategy - The company experienced over 200% year-on-year growth in the sales of insulin analogs in the domestic market and plans to leverage new procurement policies to expand market share [2] - Tonghua Dongbao is actively pursuing regulatory approvals for its insulin products in international markets, including the acceptance of its aspart insulin BLA by the FDA [2] Research and Development - The company emphasizes innovation and maintains a high level of investment in R&D, focusing on new product development such as ultra-rapid insulin and GLP-1/GIP dual receptor agonists [3] - Clinical trials for its injectable THDBH120 for weight loss are progressing well, with the first patient dosed in January 2025 [2] Future Outlook - The domestic insulin market is expected to continue stable growth over the next three years, with the company planning to explore new therapeutic areas such as weight loss and gout [3] - Tonghua Dongbao aims to enhance investor relations and improve transparency to better communicate its value and growth prospects to the market [3]

证券代码：600867 证券简称：通化东宝 公告编号：2025-060 通化东宝药业股份有限公司关于 2025 年员工持股计划完成股票非交易过户的公告 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。 通化东宝药业股份有限公司（以下简称"公司"、"通化东宝"）于 2025 年 9 月 2 日召开了第十一届董事会第十七次会议、第十一届监事会第十一次会议、于 2025 年 9 月 18 日召开 2025 年第二次临时股东会，审议通过了《关于<通化东宝 2025 年员工持股计划（草案）>及其摘要的议案》等相关议案，同意公司实施 2025 年员工持股计划（以下简称"本员工持股计划"）。内容详见公司于 2025 年 9 月 3 日、2025 年 9 月 19 日在上海证券交易所网站（www.sse.com.cn）披露的相关 公告。 根据《关于上市公司实施员工持股计划试点的指导意见》及《上海证券交易 所上市公司自律监管指引第 1 号——规范运作》的相关规定，现将本员工持股计 划实施进展情况公告如下： 根据参与本员工持股计划实际认购和最终缴款 ...

Core Viewpoint - Tonghua Dongbao held a performance briefing for the first half of 2025, highlighting significant advancements in clinical trials and sales growth in insulin products [1] Group 1: Clinical Trials and Product Development - The injection THDBH120 for weight loss indications has completed its first patient dosing in a Phase II clinical trial as of January 2025, showing good safety, tolerability, and positive efficacy trends [1] - The company's insulin formulations are still in preclinical research, with future developments to be disclosed according to relevant regulations [1] Group 2: Domestic Market Performance - In the first half of 2025, the sales of insulin analogs in the domestic market achieved over 200% year-on-year growth [1] - The company plans to leverage the new round of centralized procurement to significantly boost the sales of insulin analogs and expand market share [1] Group 3: International Market Developments - The U.S. BLA for Aspart insulin has been accepted by the FDA, with ongoing efforts to advance the BLA submissions for Glargine and Lispro insulins [1] - Registration preparation and application work for insulin analogs in Europe and various developing countries are progressing in an orderly manner [1]

Core Viewpoint - Tonghua Dongbao's stock price has shown a modest increase of 6.12% year-to-date, with recent fluctuations indicating a slight decline over the past 20 days and a small gain over the last 60 days [1] Group 1: Company Overview - Tonghua Dongbao Pharmaceutical Co., Ltd. is located in Tonghua County, Jilin Province, and was established on December 28, 1992, with its listing date on August 24, 1994 [1] - The company's main business includes hard capsule preparations, tablets (including hormone types), granules, small-volume injections, raw materials (recombinant human insulin), and biological engineering products (recombinant human insulin injection) [1] - The revenue composition of the company is as follows: biological products (raw materials and formulations) 90.29%, medical devices such as injection pens and blood glucose test strips 6.07%, traditional Chinese medicine and chemical drugs 2.24%, and others 1.27% [1] Group 2: Financial Performance - For the first half of 2025, Tonghua Dongbao achieved an operating income of 1.373 billion yuan, representing a year-on-year growth of 85.60%, and a net profit attributable to shareholders of 218 million yuan, reflecting a year-on-year increase of 194.48% [2] - The company has cumulatively distributed dividends of 5.509 billion yuan since its A-share listing, with 1.973 billion yuan distributed over the past three years [3] Group 3: Shareholder Information - As of June 30, 2025, the number of shareholders of Tonghua Dongbao was 86,500, a decrease of 7.02% compared to the previous period, with an average of 22,632 circulating shares per shareholder, an increase of 7.55% [2] - The top ten circulating shareholders include notable entities such as the China Southern Asset Management Co., Ltd. and Hong Kong Central Clearing Limited, with varying changes in their holdings compared to the previous period [3]

Core Viewpoint - The announcement details the share pledge and unpledging activities of Tonghua Dongbao Pharmaceutical Co., Ltd.'s controlling shareholder, Dongbao Industrial Group Co., Ltd., indicating a high level of share pledging and its implications for the company's financial health and governance [1][2][3]. Group 1: Shareholding and Pledge Details - Dongbao Group and its concerted parties hold a total of 634,511,775 shares, accounting for 32.40% of the company's total shares [1]. - After the recent unpledging and re-pledging, the total number of pledged shares is 565,939,472, which represents 89.19% of the shares held by Dongbao Group and its concerted parties, and 28.90% of the company's total shares [1][2]. - Dongbao Group holds 612,649,596 shares, which is 31.28% of the total shares, with 565,939,472 shares pledged, equating to 92.38% of its holdings [1][2]. Group 2: Financial Implications and Debt Management - On September 22, 2025, Dongbao Group unpledged 14,000,000 shares and subsequently pledged the same number of shares to China Construction Bank for debt repayment purposes [2][3]. - The total number of shares due for pledge expiration in the next six months is 81,000,000, representing 13.22% of its holdings and 4.14% of the company's total shares, with a corresponding financing balance of 31.5 million [3]. - For the next year, 191,350,000 shares are set to expire, which is 31.23% of its holdings and 9.77% of the company's total shares, with a financing balance of 96.5 million [3]. Group 3: Impact on Company Operations and Governance - The share pledging activities are not expected to impact the company's operations or governance, nor will they lead to a change in actual control [3][4]. - Dongbao Group has no performance compensation obligations that could be affected by the share pledging [3][4]. Group 4: Financial Health and Risk Assessment - Dongbao Group's financial health shows a relatively high debt-to-asset ratio and low liquidity ratios, which may pose challenges for debt repayment [9]. - The group plans to enhance operational efficiency, accelerate the conversion of research results, and manage share pledging ratios to mitigate risks associated with high share pledging [9][10].

Group 1 - Dongbao Group has completed the pledge release of 14 million unrestricted circulating shares to China Construction Bank on September 22, 2025 [1] - Dongbao Group and its concerted actions hold approximately 635 million shares, accounting for 32.4% of the total shares [1] - The total number of pledged shares by Dongbao Group and its concerted actions is about 566 million shares, representing 89.19% of their total holdings and 28.9% of the company's total shares [1] Group 2 - Dongbao Group holds approximately 613 million shares, which is 31.28% of the total shares [1] - The cumulative pledged shares by Dongbao Group amount to 566 million, making up 92.38% of their holdings and 28.9% of the company's total shares [1]

证券代码：600867 证券简称：通化东宝 公告编号：2025-059 通化东宝药业股份有限公司 关于控股股东股份解押及再质押公告 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。 重要内容提示: 通化东宝药业股份有限公司（以下简称"公司"或"本公司"）控股股东东 宝实业集团股份有限公司（以下简称"东宝集团"）及其一致行动人合计持有公 司股份 634,511,775 股，占公司目前股份总额的 32.40%；东宝集团及其一致行 动人持有公司股份累计质押数量（本次解押及再质押后）为 565,939,472 股，占 其及一致行动人所持有公司股份总额的 89.19%，占公司目前股份总额的 28.90%。 其中：东宝集团持有公司股份 612,649,596 股，占公司目前股份总额的 31.28%， 东宝集团持有公司股份累计质押数量（本次解押及再质押后）为 565,939,472 股， 占其所持有公司股份总额的 92.38%，占公司目前股份总额的 28.90%。 2025 年 9 月 23 日,本公司接到东宝集团关于股份解押及再质押相关情况 ...

Group 1 - The core viewpoint of the announcement is the successful passing of three key resolutions related to the employee stock ownership plan at the company's second extraordinary general meeting of 2025 [1][4][5] - The meeting was held on September 18, 2025, at the company's conference room, with all board members and supervisors present [2][3] - The voting method combined on-site and online voting, complying with the Company Law and the company's articles of association [2] Group 2 - The resolutions passed include the draft of the 2025 employee stock ownership plan, the management measures for the plan, and the authorization for the board to handle related matters [4][5] - The meeting was witnessed by Jilin Bingze Law Firm, confirming that the procedures and voting results were in accordance with legal and regulatory requirements [5]

通化东宝药业股份有限公司 2025 年员工持股计划 通化东宝药业股份有限公司 2025 年员工持股计划 证券代码：600867 证券简称：通化东宝 二〇二五年九月 0 通化东宝药业股份有限公司 2025 年员工持股计划 声 明 本公司及董事会全体成员保证本员工持股计划及其摘要不存在虚假记载、误导性 陈述或重大遗漏，并对其内容的真实性、准确性、完整性承担法律责任。 1 通化东宝药业股份有限公司 2025 年员工持股计划 风险提示 一、通化东宝药业股份有限公司（以下简称"通化东宝"、"公司"）2025 年员 工持股计划（以下简称"本员工持股计划"）的参与对象、资金来源、出资金额和具 体实施方案等属初步结果，能否完成实施，存在不确定性。 二、员工遵循依法合规、自愿参与、风险自担原则，若员工认购资金较低，本员 工持股计划存在无法成立的风险；若员工认购份额不足，本员工持股计划存在低于预 计规模的风险。 三、股票价格受公司经营业绩、宏观经济周期、国际/国内政治经济形势及投资者 心理等多种复杂因素影响。因此，股票交易是有一定风险的投资活动，投资者对此应 有充分准备。 三、本员工持股计划由公司自行管理，公司成立员工持股计划管 ...