Summary of Conference Call Records Company and Industry Overview - The conference call primarily discusses advancements in pharmaceutical projects, particularly focusing on drug development and clinical trials in the biotechnology sector. Key Points and Arguments Drug Development Progress - The company has made significant progress in developing a drug that shows improved muscle function recovery compared to existing coma medications, with a focus on muscle activity and respiratory function [1] - Two drugs have been approved for clinical trials targeting symptoms of fatigue and itching, with plans to combine their strengths to enhance treatment efficacy [2] - The company is utilizing AI technology to accelerate research and development processes, aiming to optimize drug candidates and reduce costs [5] Clinical Trial Results - The company has identified promising drug candidates through extensive screening processes, resulting in several molecules that demonstrate strong activity against targeted diseases [4][6] - A specific molecule, TL1A, has shown superior performance in treating ulcerative conditions compared to existing treatments, with ongoing development expected to yield results by the end of the year [7] Market Position and Strategy - The company is actively pursuing international market opportunities, with a focus on expanding its product offerings in Europe and Southeast Asia, indicating a strategic shift towards global commercialization [26][30] - The anticipated revenue from overseas commercialization is projected to double, reflecting strong growth potential in international markets [28] Regulatory and Compliance Challenges - The company is navigating complex regulatory environments in Southeast Asia, maintaining close communication with local authorities to ensure compliance and facilitate product approvals [29][30] Future Outlook - The company is optimistic about its pipeline, with expectations to introduce numerous new products over the next five to ten years, significantly enhancing its market presence [26] - The focus on innovative drug development and strategic partnerships is expected to drive long-term growth and sustainability in the competitive pharmaceutical landscape [32] Additional Important Content - The discussion highlighted the importance of understanding the mechanisms of action for new drugs, particularly in relation to appetite control and metabolic pathways [17][18] - The company is also exploring the implications of recent acquisitions in the industry, assessing how these moves could impact competitive dynamics and market opportunities [21][22] This summary encapsulates the critical insights from the conference call, emphasizing the company's strategic initiatives, clinical advancements, and market positioning within the pharmaceutical industry.

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Group 1: Key Insights on Companies - Kexing Pharmaceutical has a clear innovation drug development pipeline strategy, transitioning from fast-follow monoclonal antibodies to dual-target or tri-target antibodies from 2022 to 2023, and planning to focus on FIC tri-target antibodies starting in 2024 [1] - The company expects to complete some business development collaborations for its R&D pipeline by 2025, with a focus on overseas partnerships from PCC to IND stages [1] - The GB18 project aims to improve weight loss and enhance muscle and fat weight, with domestic IND accepted and US IND application in progress [1] - The company anticipates a foreign sales revenue growth target of 200%-400%, leveraging its overseas commercialization platform for long-term business growth [1] Group 2: Key Insights on Industry Trends - Yingzi Network has made significant progress in smart home cameras and cloud services, with smart home becoming a second growth curve and profitability gradually improving [2] - The company is expanding its AI cloud services and has introduced new products targeting young users and outdoor sports markets [2] - Despite the downturn in real estate, the company’s pre-installation business is less affected, focusing mainly on post-installation sales [2] Group 3: Key Insights on Technology Sector - Lanke Technology will focus on the development of computing power chips for intelligent hardware over the next 5-10 years, emphasizing the importance of interconnect chips [3] - The demand for DDR5 memory interface chips is expected to rise significantly due to AI industry trends, with the second generation of MRDIMM likely becoming a preferred solution for high-performance computing and AI applications [3] - The company plans to continue advancing its memory interface chips, PCIe Retimer, and MXC chips, while also exploring the PCIe Switch and optical interconnect fields [3]

Group 1: Key Insights on Companies - Cansino Biologics has a clear strategic pipeline for innovative drug development, shifting focus from fast-follow monoclonal antibodies to dual-target or tri-target antibodies from 2022 to 2023, and planning to introduce FIC tri-target antibodies starting in 2024 [1] - The company anticipates completing some business development collaborations for its pipeline by 2025, with a focus on overseas partnerships from PCC to IND stages [1] - The GB18 project aims to improve weight loss and enhance muscle and fat weight, with injections expected every 3-4 weeks, and is currently under IND review in both China and the US [1] - The GB12 project, utilizing AI technology in collaboration with Baidu, features a bispecific antibody targeting IL-4R and IL-31, with limited market competition [1] - Cansino's international sales revenue growth target is set at 200%-400%, leveraging its overseas commercialization platform for long-term business growth [1] Group 2: Key Insights on Industry Trends - Lattice Semiconductor is focusing on the development of computing hardware chips over the next 5-10 years, particularly in interconnect chips, benefiting from over 20 years of deep technical accumulation [2] - The demand for DDR5 memory interface chips is expected to surge due to trends in the AI industry, with MRCD/MDB chips anticipated to become preferred solutions for high-performance computing and AI applications [2] - The company is advancing its PCIe Switch chip development, leveraging its successful experience with PCIe Retimer chips, which are expected to see increased demand driven by AI server shipments and PCIe protocol iterations [2] - The market potential for CXL-related applications is significant, with the company planning to continue its R&D in memory interface chips, PCIe Retimer, and MXC chips [2] - The company has implemented a performance evaluation system for executives based on market capitalization, aligning management interests with shareholder interests [2]

Core Insights - Shangya Investment recently conducted research on a listed company, focusing on the innovative drug development pipeline of Kexing Pharmaceutical, which has a clear strategy for different stages of drug development [1] Group 1: Company Overview - Kexing Pharmaceutical has shifted its focus from Fast-follow monoclonal antibodies in 2022 to dual-target or triple-target antibodies in 2022-2023, with plans to develop FIC class triple-target antibodies starting in 2024 [1] - The company anticipates completing some business development collaborations for its pipeline by 2025, particularly focusing on overseas collaborations from PCC to IND stages [1] Group 2: Product Pipeline - The GB18 project aims to improve weight loss, muscle and fat weight, and exercise function, with injections expected every 3-4 weeks; the domestic IND has been accepted, and the US IND is under application [1] - The GB12 project, which targets IL-4R and IL-31, benefits from dual specificity antibody advantages and has a competitive edge in the market, utilizing AI technology in collaboration with Baidu Biotechnology [1] - The GB20 and GB24 projects focus on the TL1 target, providing synergistic effects for inflammation and fibrosis prevention, covering the entire disease course of IBD [1] Group 3: Market Strategy - The product Bai Zi has seen increasing order volumes since its sales began in the EU in August 2024, with production scheduled based on orders for 2025 [1] - Kexing Pharmaceutical is prioritizing the introduction of high-tech barrier products, advancing local operations of its overseas subsidiaries, and accelerating the registration and listing process [1] - The company aims for an export revenue growth target of 200%-400%, relying on its overseas commercialization platform for long-term business growth [1]

Market Overview - The A-share market indices continued to rise, achieving a five-day consecutive increase, with a total trading volume of 1.31 trillion yuan, a decrease of 78 billion yuan from the previous trading day [1] - The Hainan sector experienced significant growth, while a few sectors such as shipping ports and the茅指数 saw declines [1] Stock Performance - A total of 103 stocks hit the daily limit, with 13 stocks achieving consecutive limit-ups, and 31 stocks failed to close at the limit, resulting in a limit-up rate of 77% (excluding ST and delisted stocks) [3] - Notable stocks included: - Guofang Group achieved a 7-day limit-up, driven by retail and brokerage investments [4] - Zhongqi New Material saw a 10.01% increase, marking its 9th day with 7 limit-ups, influenced by semiconductor equipment [4] - Zhongyuan Home achieved a limit-up, marking its 5th consecutive limit-up, supported by the sofa and e-commerce sectors [4] Institutional Trading - The top three net buying stocks on the Dragon and Tiger list were Hunan Gold, Tianhe Magnetic Materials, and Yuekang Pharmaceutical, with net purchases of 179 million yuan, 157 million yuan, and 106 million yuan, respectively [6] - The top three net selling stocks were Baolingbao, Hongbaoli, and Ouyagu, with net sales of 64.35 million yuan, 54.92 million yuan, and 46.72 million yuan, respectively [6] Sector Highlights - Hunan Gold's stock price surged due to rising gold prices, with spot gold breaking historical highs at $3,245.45 per ounce, and forecasts from Goldman Sachs and UBS predicting further increases [7] - Yuekang Pharmaceutical reported a 42.2 million yuan R&D investment in 2024, accounting for 11.16% of its revenue, reflecting a 0.78 percentage point increase year-on-year [12] - Baolingbao's stock experienced abnormal fluctuations, with a cumulative increase of over 20% in three consecutive trading days, while the company maintains a diverse product range in functional sugars [13] Notable Stock Movements - Kexing Pharmaceutical saw a significant increase of 16.83%, with a trading volume of 288 million yuan and a net institutional purchase of 89.31 million yuan [16] - Ha Sanlian's stock rose by 3.01%, with a trading volume of 787 million yuan and a net institutional purchase of 49.39 million yuan [16] - Qingdao Jinwang's stock increased by 5.41%, with a trading volume of 2.6 billion yuan and a net institutional purchase of 44.02 million yuan [16]

证券代码：688136 证券简称：科兴制药 公告编号：2025-020 科兴生物制药股份有限公司 股票交易异常波动公告 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： 科兴生物制药股份有限公司（以下简称"公司"）股票连续三个交易日 内（2025 年 4 月 10 日、4 月 11 日、4 月 14 日）收盘价格涨幅偏离值累计超过 30%，属于股票交易异常波动。 经公司自查，并向公司控股股东、实际控制人进行书面询证，截至本公 告披露日，确认不存在关于公司的应披露而未披露的重大事项，公司日常经营情 况正常，未发生重大变化，所处的行业政策未发生重大调整。 公司股价短期波动幅度较大，公司特别提醒广大投资者，注意投资风险、 理性决策、审慎投资。 一、股票交易异常波动的具体情况 公司股票连续三个交易日内（2025 年 4 月 10 日、4 月 11 日、4 月 14 日） 收盘价格涨幅偏离值累计超过 30%，根据《上海证券交易所科创板股票异常交易 实时监控细则》的有关规定，属于股票交易异常波动的情形。 二、公司关注并核实的 ...

特此回函! 关于《科兴生物制药股份有限公司股票交易异常波动询证函》的回函 8 实际控制人: 1225 科兴生物制药股份有限公司: 贵公司发出的《科兴生物制药股份有限公司股票交易异常波动询证函》已收 悉，经过认真自查，现就有关情况回复如下： 截至本函签署日,本人作为贵公司的实际控制人,不存在影响贵公司股票交 易异常波动的重大事项,不存在其他应披露而未披露的重大信息,包括但不限于 筹划并购重组、股份发行、债务重组、业务重组、资产剥离和资产注入等对贵公 司股票交易价格产生较大影响的重大事项。本人在贵公司本次股票交易异常波动 期间未买卖贵公司股票。 2025 年 4 月 14 日 ...

关于《科兴生物制药股份有限公司股票交易异常波动询证函》的回函 科兴生物制药股份有限公司: 贵公司发出的《科兴生物制药股份有限公司股票交易异常波动询证函》已收 悉,经过认真自查,现就有关情况回复如下: 深圳科益医药 202 一、截至目前,本企业不存在除在指定媒体上已公开披露的信息以外影响贵 公司股票交易价格异常波动的重大事宜; 二、截至目前,本企业不存在处于筹划阶段的涉及贵公司的重大事项,包括 但不限于重大资产重组、股份发行、上市公司收购、债务重组、业务重组、资产 剥离、资产注入等重大事项; 三、在本次股票交易异常波动期间,本企业不存在买卖贵公司股票的情形。 特此回函! ...

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： 会议召开时间：2025 年 04 月 23 日 （星期三） 15:00-17:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 证券代码：688136 证券简称：科兴制药 公告编号：2025-021 科兴生物制药股份有限公司 关于参加 2024 年度科创板生物制品及 CXO 行业 集体业绩说明会的公告 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 04 月 16 日（星期三）至 04 月 22 日（星期二）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 ir@kexing.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行回答。 科兴生物制药股份有限公司（以下简称"公司"）已于 2025 年 4 月 11 日发布 公司 2024 年度报告，为便于广大投资者更全面深入地了解公司 2024 年度经营成 ...