湖南方盛制药股份有限公司 HUNANFANGSHENG PHARMACEUTICAL CO., LTD. 证券代码：603998 证券简称：方盛制药 公告编号：2025-065 湖南方盛制药股份有限公司 关于公司受让药品生产技术的进展公告 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。 2022 年 12 月 14 日，湖南方盛制药股份有限公司（以下简 称"方盛制药"或"公司"）与湖南省回春堂药业有限公司（以 下简称"回春堂药业"）签订了《药品上市许可转让协议》，决 定以人民币 230 万元受让"强力枇杷露"药品品种的所有权（详 见公司 2022-134 号公告）。2023 年 3 月，因公司内部规划调整， 经公司董事长审批同意，将公司从回春堂药业受让的"强力枇杷 露"药品品种的所有权转让至全资子公司江西滕王阁药业有限公 司（以下简称"滕王阁药业"）。现将上述事项最新进展情况公 告如下： 一、公司受让药品生产技术的进展 为进一步有效发挥公司的药品批文价值，提高资产运营效率， 公司拟与康普药业股份有限公司（以下简称"康普药业"） ...

Market Overview - The Shanghai Composite Index closed at 3519.65 points, above the annual line, with a change of 0.27% [1] - The total trading volume of A-shares reached 14809.22 billion yuan [1] Stocks Breaking Annual Line - A total of 46 A-shares have surpassed the annual line today, with notable stocks including: - Siyuan Electric (002028) with a deviation rate of 7.62% - Huaming Equipment (002270) with a deviation rate of 2.75% - Tongyi Co., Ltd. (300538) with a deviation rate of 2.63% [1] Deviation Rate Rankings - The top stocks with the highest deviation rates from the annual line include: - Siyuan Electric: 10.00% increase, latest price 76.99 yuan, deviation rate 7.62% - Huaming Equipment: 3.25% increase, latest price 16.85 yuan, deviation rate 2.75% - Tongyi Co., Ltd.: 2.63% increase, latest price 16.02 yuan, deviation rate 2.63% [1] Additional Stocks with Minor Deviations - Stocks with smaller deviation rates that have just crossed the annual line include: - Daqin Railway and *ST Haiyuan with minimal deviation rates [1]

Market Overview - The Shanghai Composite Index closed at 3525.40 points, above the annual line, with a change of 0.43% [1] - The total trading volume of A-shares reached 987.43 billion yuan [1] Stocks Breaking Annual Line - A total of 41 A-shares have surpassed the annual line today, with notable stocks including: - Siyuan Electric (002028) with a deviation rate of 7.62% - Tongyi Co., Ltd. (300538) with a deviation rate of 2.51% - Ruisheng Technology (688090) with a deviation rate of 2.05% [1] Stocks with Significant Deviation Rates - The stocks with the highest deviation rates from the annual line include: - Siyuan Electric: 10.00% increase, trading at 76.99 yuan - Tongyi Co., Ltd.: 2.50% increase, trading at 16.00 yuan - Ruisheng Technology: 3.24% increase, trading at 35.10 yuan [1] Additional Stocks with Minor Deviations - Other stocks that have just crossed the annual line with smaller deviation rates include: - Qianjiang Motorcycle, Jiuquan Technology, and Huadian International, which have just reached the annual line [1]

湖南方盛制药股份有限公司 HUNANFANGSHENG PHARMACEUTICAL CO., LTD. 证券代码：603998 证券简称：方盛制药 公告编号：2025-064 湖南方盛制药股份有限公司 关于子公司中药创新药研发项目获得药物临床试验 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。 受理号：CXZL2500024 审批结论：根据《中华人民共和国药品管理法》及有关规定， 经审查，2025 年 4 月 22 日受理的香芩解热颗粒临床试验申请符 合药品注册的有关要求，在进一步完善临床试验方案的基础上， 同意本品开展用于成人流行性感冒湿热郁表证的临床试验。 二、新药的相关情况 香芩解热颗粒的处方为临床经验方，是岐黄学者、中华中医 药学会儿科分会主任委员、云南省中医药领军人才、云南省名中 医熊磊教授经验方，经长期临床应用疗效肯定，用于湿热郁表型 第 1 页，共 3 页 2025 年 7 月 10 日，湖南方盛制药股份有限公司（以下简称 "公司"或"方盛制药"）全资子公司云南方盛融和药业有限公 司（以下简称 ...

Core Viewpoint - Fangsheng Pharmaceutical (603998) announced that its wholly-owned subsidiary, Yunnan Fangsheng Ronghe Pharmaceutical Co., Ltd., has received the clinical trial approval notice from the National Medical Products Administration for the innovative traditional Chinese medicine, Xiangqin Jietuo Granules, which is intended for the treatment of adult influenza with damp-heat syndrome [1] Company Summary - The innovative drug Xiangqin Jietuo Granules is classified as a Category 1 traditional Chinese medicine and is currently not available in domestic or international markets [1] - As of June 30, 2025, the cumulative research and development investment for this drug project is approximately 16.0569 million yuan [1] Industry Summary - Traditional Chinese medicine is widely used in the treatment of respiratory diseases, with sales of traditional Chinese medicine for respiratory conditions exceeding 80 billion yuan across three major terminals and six major markets in China in recent years [1]

湖南方盛制药股份有限公司 HUNANFANGSHENG PHARMACEUTICAL CO., LTD. ●湖南方盛制药股份有限公司（以下简称"公司"）控股股东暨实际控制人张庆华 先生办理完成了856万股（占公司总股本的1.95%）公司股份解除质押手续； ●截至本公告披露日，张庆华先生直接持有公司的股份总数为156,019,500股，占公 司股份总数（439,081,360股）的35.53%；张庆华先生质押的公司股份总数为65,905,200 股，占其直接持有公司股份总数的42.24%，占公司股份总数的15.01%；张庆华先生控股 的湖南开舜投资咨询有限公司之控股子公司泰州共生创业投资管理有限公司（以下简称 "共生投资"）持有公司股份数为9,131,807股，共生投资质押的公司股份总数为0股； 张祖嵘女士持有公司股份数423,300股，张祖嵘女士质押的公司股份总数为0股；综上， 张庆华先生及其一致行动人共生投资、张祖嵘女士合计持有公司165,574,607股，以此计 算，张庆华先生及其一致行动人共生投资、张祖嵘女士合计质押的公司股份总数为 65,905,200股，占持股总数的39.80%。 公司收到控股股东暨 ...

Group 1 - The company has acquired ownership of 20 registered pharmaceutical products from Kangyi Pharmaceutical Co., Ltd., including "Throat and Pharynx Clear Capsules" and "Zhebei Cough Syrup (Yellow Box)" in Hong Kong [2] - On June 3, 2025, the company signed an investment cooperation agreement to adjust the equity structure of its Hong Kong joint venture [2] - The Hong Kong joint venture, Hong Kong Fangsheng Pharmaceutical Co., Ltd., has completed registration in the Hong Kong Special Administrative Region, with the company contributing HKD 10 million for a 50% stake [2] Group 2 - To expedite the registration of the acquired pharmaceutical products in mainland China, the company signed a supplementary agreement on June 20, 2025, to adjust the transfer steps and payment terms [3][4] - The supplementary agreement does not constitute a major adjustment to the original transfer agreement and will not affect the acquisition of the pharmaceutical products [4]

湖南方盛制药股份有限公司 HUNANFANGSHENG PHARMACEUTICAL CO., LTD. 证券代码：603998 证券简称：方盛制药 公告编号：2025-062 湖南方盛制药股份有限公司 关于受让药品上市许可的进展公告 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。 一、交易概述 2025 年 3 月 25 日，湖南方盛制药股份有限公司（以下简称 "公司"）受让康溢医药有限公司（以下简称"康溢医药"）持 有的"喉咽清胶囊""浙贝止咳露（黄盒）"等合计 20 个在香 港特别行政区卫生署（以下简称"香港卫生署"）注册的药品品 种的所有权（详见公司 2025-030 号公告）；2025 年 6 月 3 日， 公司与自然人赵国灏先生、港捷有限公司、湖南科祺创新科技有 限公司与湖南筱沐医药科技有限公司签订《投资合作协议》，调 整对香港合资子公司的股权结构（详见公司 2025-060 号公告）。 第 1 页，共 2 页 湖南方盛制药股份有限公司 HUNANFANGSHENG PHARMACEUTICAL CO., LTD. ...

Investment Rating - The report maintains a strong confidence in the pharmaceutical sector's potential for a reversal in 2025, highlighting innovative drugs and left-side sector recovery as the main investment opportunities [4][44]. Core Insights - The innovative drug sector remains in a high prosperity state, with significant collaborations continuing to emerge. The upcoming 85th American Diabetes Association (ADA) Scientific Sessions in June 2025 is expected to provide important clinical and research updates from endocrine and metabolic drug companies, suggesting investment opportunities in this area [11][44]. - The report emphasizes the increasing approval and quality of new drugs in China, indicating a recovery in the innovative drug sector that has been undervalued for several years. The global recognition of China's technological capabilities is also drawing renewed attention from capital markets towards domestic pharmaceutical companies [27][44]. - The report suggests focusing on leading companies with international expansion and innovation progress, such as Heng Rui Medicine, BeiGene, Innovent Biologics, and others, as well as ADC leaders like Keren Pharmaceutical and Bai Li Tianheng [27][44]. Summary by Sections Pharmaceutical Sector - UroGen Pharma's FDA approval of Zusduri, the first and only drug for treating recurrent low-grade intermediate-risk non-muscle invasive bladder cancer, marks a significant breakthrough in drug delivery systems [20][21]. - The report highlights the progress in chronic disease metabolism, with Eli Lilly's oral Lp(a) lowering drug being considered for breakthrough therapy designation, indicating a growing pipeline of innovative treatments [23][27]. - Merck's oral PCSK9 inhibitor Enlicitide has shown positive results in Phase III trials, representing a significant advancement in cholesterol management therapies [28][29]. Medical Devices - The launch of the MAGLUMI X10, a high-speed automated chemiluminescence immunoassay analyzer, reflects the increasing demand for innovative medical devices in China [33][35]. - The investment by Xianjian Technology in Jianhu Medical to develop electrophysiology products indicates a strategic move to enhance capabilities in high-end medical devices [36][38]. Medical Services - The successful initiation of China's first invasive brain-computer interface clinical trial signifies a major advancement in medical technology, with potential applications for improving the quality of life for patients with spinal cord injuries and amputations [39][40]. - The report anticipates rapid growth in related industries, including high-end imaging equipment and surgical robots, driven by technological advancements and policy support [40]. Traditional Chinese Medicine - The approval of Fangsheng Pharmaceutical's innovative traditional Chinese medicine product marks a significant step in the development of new drugs in this sector, with an expected increase in new drug applications in the coming years [41][43].

Group 1: Overview of Market Trends - The performance of the Shanghai Composite Index and the ChiNext Index over the past year shows significant fluctuations, with the ChiNext Index experiencing a decline of 32% [2][3] - The top five performing industries recently include Beauty Care, Banking, and Pharmaceutical Biotechnology, while the bottom five include Defense, Computer, and Electronic sectors [3][4] Group 2: Company Insights - Meitu Inc. (01357.HK) - Meitu is positioned as a leader in the visual economy, leveraging AI to accelerate commercialization, with projected revenues of 4.14 billion, 4.99 billion, and 5.82 billion yuan for 2025-2027, reflecting growth rates of 23.8%, 20.6%, and 16.6% respectively [6][7] - The company has a large user base and is expanding its product offerings, with a monthly active user count of 266 million as of December 2024, showing a year-on-year growth of 6.7% [7][8] - Meitu's strategy focuses on enhancing AI capabilities, global expansion, and productivity, with a projected increase in paid user penetration rates [8] Group 3: Company Insights - Greentown China Holdings Limited (03900.HK) - Greentown China reported a growth in monthly sales, with a total sales amount of 186 billion yuan in May 2025, marking a year-on-year increase of 14.8% [9][11] - The company maintains a strong land acquisition strategy, with a total of 30 new land plots acquired in the first five months of 2025, reflecting a land acquisition intensity of 84% [11][12] - Profit forecasts for 2025-2027 are set at 3.33 billion, 4.54 billion, and 5.43 billion yuan, with corresponding EPS of 1.31, 1.79, and 2.14 yuan [9][11] Group 4: Company Insights - Poly Developments and Holdings Group Co., Ltd. (600048.SH) - Poly Developments remains the top-ranked company in the industry despite a decline in sales amount and area in May 2025, with a signed sales amount of 285.12 billion yuan, down 19.26% year-on-year [14][15] - The company has a strong focus on high-tier cities, with over 90% of land acquisitions occurring in first and second-tier cities [14][16] - Profit forecasts for 2025-2027 are estimated at 5.68 billion, 6.56 billion, and 7.51 billion yuan, with corresponding PE ratios of 17.2, 14.9, and 13.0 [14][15] Group 5: Company Insights - Fangsheng Pharmaceutical Co., Ltd. (603998.SH) - Fangsheng Pharmaceutical's newly approved product, a traditional Chinese medicine for tension-type headaches, is expected to enhance its performance in the cardiovascular sector, with profit forecasts of 308 million, 378 million, and 457 million yuan for 2025-2027 [18][19] - The prevalence of tension-type headaches presents a significant market opportunity, as they account for a large percentage of primary headache cases [19][20] Group 6: Company Insights - Zai Lab Limited (09688.HK) - Zai Lab is adopting a dual strategy of "License-in + Independent R&D" to build a differentiated product pipeline, with expected revenues of 567 million, 830 million, and 1.226 billion USD for 2025-2027 [22][23] - The company anticipates significant growth from its lead product, with multiple key products expected to submit NDA applications in 2025 [22][23]