Core Viewpoint - Meinuo Pharma (603538.SH) has received approval from the National Medical Products Administration for its product, Irbesartan Hydrochlorothiazide Tablets, which is indicated for the treatment of primary hypertension [1] Group 1: Product Approval - Meinuo Pharma's wholly-owned subsidiary, Ningbo Meinuo TianKang Pharmaceutical Co., Ltd., has obtained the drug registration certificate for Irbesartan Hydrochlorothiazide Tablets from the National Medical Products Administration [1] - The combination of Irbesartan, an angiotensin II receptor antagonist, and Hydrochlorothiazide, a thiazide diuretic, is designed to provide a synergistic effect in lowering blood pressure within the recommended therapeutic dosage range [1]

Core Viewpoint - Meinuo Pharma (603538.SH) has received approval from the National Medical Products Administration for its product, Irbesartan Hydrochlorothiazide Tablets, which is indicated for the treatment of primary hypertension [1] Company Summary - Meinuo Pharma's wholly-owned subsidiary, Ningbo Meinuo TianKang Pharmaceutical Co., Ltd., has been granted a drug registration certificate for Irbesartan Hydrochlorothiazide Tablets [1] - The drug is a combination of the angiotensin II receptor antagonist Irbesartan and the thiazide diuretic Hydrochlorothiazide, which work synergistically to lower blood pressure within the recommended therapeutic dosage range [1]

Core Viewpoint - Meheco's subsidiary, Meheco Tiankang, has received approval from the National Medical Products Administration for the registration of Eprosartan Hydrochlorothiazide Tablets, which are used to treat primary hypertension [1] Company Summary - The approved drug is a combination of angiotensin II receptor antagonist Eprosartan and thiazide diuretic Hydrochlorothiazide [1] - Meheco Tiankang has invested 5.8747 million yuan in the research and development of this drug [1] Market Summary - The global sales forecast for Eprosartan Hydrochlorothiazide Tablets in 2024 is projected to be 817 million USD, with sales in China expected to reach 184 million USD [1]

Core Viewpoint - Meinuo Pharma has received approval from the National Medical Products Administration for the registration of Irbesartan Hydrochlorothiazide tablets, enhancing its market competitiveness and expanding its cardiovascular product pipeline [1] Group 1 - Meinuo Pharma's wholly-owned subsidiary, Ningbo Meinuo TianKang Pharmaceutical Co., Ltd., has obtained the drug registration certificate for Irbesartan Hydrochlorothiazide tablets [1] - The drug is indicated for the treatment of primary hypertension, which addresses a significant health issue [1] - The approval allows the company to produce and sell the drug in the domestic market, positively impacting its operational development [1]

Core Viewpoint - Meinuo announced that it will not adjust the conversion price of its convertible bonds, "Meinuo Convertible Bonds," during the upcoming board meeting scheduled for October 17, 2025 [1] Summary by Relevant Sections - **Board Decision**: The board of Meinuo has decided not to lower the conversion price of the "Meinuo Convertible Bonds" [1] - **Future Considerations**: The period for triggering the conversion price adjustment clause will restart from October 20, 2025. If the clause is triggered again, the board will decide whether to exercise the right to adjust the conversion price [1] - **Investor Advisory**: Investors are advised to pay attention to investment risks associated with this decision [1]

Core Viewpoint - Meihua announced the convening of its fifth board meeting on October 17, 2025, to discuss the proposal regarding not adjusting the conversion price of its convertible bonds [1] Group 1 - The fifth board meeting will be held in a hybrid format, combining in-person and communication methods [1] - The agenda includes the review of the proposal concerning the non-adjustment of the convertible bond conversion price [1]

| | | 宁波美诺华药业股份有限公司 关于不向下修正"美诺转债"转股价格的公告 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。 重要内容提示: 截至 2025 年 10 月 17 日，宁波美诺华药业股份有限公司（以下简称"公 司"）股票已出现在任意连续三十个交易日中至少有十五个交易日的收盘价格低 于当期转股价格（25.68 元/股）90%，即低于 23.11 元/股（保留两位小数）的 情形，触发"美诺转债"转股价格向下修正条款。 2025 年 10 月 17 日，公司召开第五届董事会第十七次会议审议通过《关 于不向下修正可转换公司债券转股价格的议案》，公司董事会决定本次不向下修 正"美诺转债"转股价格。下一触发转股价格修正条款的期间从 2025 年 10 月 20 日重新起算，若再次触发"美诺转债"转股价格的向下修正条款，届时公司 董事会将决定是否行使"美诺转债"的转股价格向下修正权利，请广大投资者注 意投资风险。 一、可转换公司债券基本情况 （一）可转换公司债券发行上市概况 经中国证券监督管理委员会《关于核准宁波美诺华药业 ...

宁波美诺华药业股份有限公司 第五届董事会第十七次会议决议公告 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。 一、董事会会议召开情况 宁波美诺华药业股份有限公司（以下简称"公司"）于 2025 年 10 月 17 日以 书面、电子邮件等方式向公司全体董事发出召开第五届董事会第十七次会议的通 知和会议材料。第五届董事会第十七次会议于 2025 年 10 月 17 日在公司会议室 以现场结合通讯的方式召开。本次会议由姚成志先生主持，会议应出席董事 5 名，实际出席董事 5 名。公司高级管理人员列席了会议。本次会议的召集和召开 符合《中华人民共和国公司法》等有关法律法规及《公司章程》《董事会议事规 则》的规定。 二、董事会会议审议情况 1、审议通过《关于不向下修正可转换公司债券转股价格的议案》 | 证券代码：603538 | 证券简称：美诺华 | 公告编号：2025-103 | | --- | --- | --- | | 转债代码：113618 | 转债简称：美诺转债 | | 具体内容详见公司于上海证券交易所网（www.sse.co ...

Core Viewpoint - Ningbo Meinuo Pharmaceutical Co., Ltd. announced that its stock has triggered the downward adjustment clause for the "Meinuo Convertible Bonds" as the closing price has been below 90% of the current conversion price for at least 15 out of the last 30 trading days [1] Group 1 - The current conversion price is set at 25.68 CNY per share, with the threshold for adjustment being 23.11 CNY per share [1] - The company held its 17th meeting of the 5th Board of Directors on the same day and decided not to adjust the conversion price this time [1] - The next period for triggering the conversion price adjustment clause will restart from October 20, 2025 [1] Group 2 - The "Meinuo Convertible Bonds" were issued in January 2021 with an initial conversion price of 37.47 CNY per share, which has been adjusted multiple times due to equity distribution [1] - Investors are advised to be aware of investment risks associated with this situation [1]

Core Insights - Ningbo Meinuo Pharmaceutical Co., Ltd. and Zhejiang Shengzhao Pharmaceutical Technology Co., Ltd. have signed a strategic cooperation agreement to collaborate in the complex injection drug sector, aiming to leverage their respective strengths in R&D, production, registration, and commercialization [1] Group 1: Industry Positioning - Shengzhao Pharmaceutical focuses on the "complex injection" field, which includes high-tech barrier injection types such as microspheres, liposomes, and microcrystals, essential for treating chronic diseases like mental disorders and cancer [2] - The complex injection market has been dominated by a few multinational pharmaceutical companies due to high R&D difficulty and strict quality control, leading to high patient costs and low domestic production [2] Group 2: Core Advantages of Shengzhao Pharmaceutical - Shengzhao has established a comprehensive technology platform covering mainstream complex injection types, enabling parallel development of multiple high-difficulty products [3] - The company boasts a strong R&D team with international experience, which has accumulated deep technical expertise in formulation processes and quality control, effectively reducing R&D risks [3] - Shengzhao has achieved significant breakthroughs in the industrialization of complex injections, with its core product, a risperidone microsphere injection, being the first generic approved for market, demonstrating its capability to transition from lab to production [3] - The company has a rich product pipeline addressing urgent clinical needs across various therapeutic areas, ensuring long-term competitive advantages [3] Group 3: Cooperation Outlook - The agreement allows Meinuo to utilize its strengths in chemical raw materials, GMP-compliant production, and global registration, while Shengzhao will provide key technical support for complex injection product development [4] - This collaboration is expected to help both companies seize market opportunities in complex injections and promote the overall development of China's high-end formulation industry, ultimately benefiting patients with more accessible domestic high-end drugs [4]