Core Viewpoint - Nanjing Pharmaceutical experienced a decline of 5.21% on September 9, with a stock price of 12.91 CNY per share and a total market capitalization of 3.543 billion CNY [1] Company Overview - Hunan Nanjing Pharmaceutical Co., Ltd. is located in Guangzhou, Guangdong Province, and was established on December 27, 2006. The company went public on March 26, 2020. Its main business focuses on the research, production, and sales of antiviral and infectious disease prevention drugs, as well as treatments for major diseases such as cardiovascular diseases and diabetes. The revenue composition is entirely from chemical drug formulations, accounting for 100% [1] Shareholder Information - Dazhong Fund's Dazhong Jingheng Mixed A (090019) is among the top ten circulating shareholders of Nanjing Pharmaceutical, holding 2.9738 million shares, unchanged from the previous period, representing 1.08% of the circulating shares. The estimated floating loss today is approximately 2.1114 million CNY [2][4] - Dazhong Jingheng Mixed A was established on June 15, 2012, with a latest scale of 397 million CNY. Year-to-date returns are 39.08%, ranking 1213 out of 8179 in its category; the one-year return is 103.35%, ranking 322 out of 7984; and since inception, the return is 367.01% [2] Fund Manager Information - The fund manager of Dazhong Jingheng Mixed A is Su Bingyi, who has a cumulative tenure of 13 years and 217 days. The total asset scale of the fund is 1.24 billion CNY, with the best fund return during his tenure being 238.45% and the worst being -71.74% [3]

Group 1 - The company plans to focus on innovative drug research and development, including advancing the Phase III clinical trial of the modified new drug Palivizumab inhalation solution and initiating the Phase I clinical trial of oral lyophilized powder of Diphenylhydantoin [1] - The company reported a significant decline in revenue, achieving 61.8463 million yuan, a year-on-year decrease of 71.28%, and a net loss attributable to shareholders of 40.0023 million yuan [1] - The decline in performance is attributed to industry policy environment, intensified market competition, and reduced sales of high-margin products due to lower flu cases and insufficient market demand [1] Group 2 - The company announced plans to acquire a group of assets from Future Pharmaceuticals for no more than 480 million yuan, which includes both marketed and in-development products related to multi-trace element injection [2] - As of June 30, 2025, the company's cash balance was 439 million yuan, and the acquisition has raised concerns about depleting financial resources [3] - The company believes that the acquisition aligns with its "big health" development strategy and will enhance its product pipeline, optimizing its product layout in "anti-infection - chronic disease - nutritional support" [3]

Core Viewpoint - Nanjing Pharmaceutical plans to acquire multiple drug products from Future Pharmaceutical for a total consideration of up to 480 million yuan, which has raised concerns about the company's financial stability due to its cash balance of 439 million yuan as of June 30, 2025 [3][4]. Acquisition Details - The acquisition includes both listed products, "Multiple Trace Element Injection (I)" and "Multiple Trace Element Injection (II)", as well as the in-development "Multiple Trace Element Injection (III)" along with all related ownership and intellectual property rights [3]. - The final transaction price will be determined through negotiations between the parties involved [3]. Financial Implications - Nanjing Pharmaceutical's representatives stated that the acquisition is still in the preliminary planning stage and will not impose significant financial pressure on the company, as it typically uses a combination of self-funding and project loans for acquisitions [4]. - The company reported a significant decline in revenue, with a 71.28% year-on-year decrease to 62 million yuan in the first half of 2025, resulting in a net loss of 40 million yuan [9][10]. Product Pipeline and Market Position - The acquisition aims to enrich the company's product pipeline and enhance its "all-age health management" product matrix, optimizing its layout in "anti-infection, chronic disease, and nutritional support" [5]. - The "Multiple Trace Element Injection (I)" is a national medical insurance Class B product primarily used for treating or supporting infants and children’s basic needs for trace elements [4]. Market Competition - Future Pharmaceutical has been a major player in the market for "Multiple Trace Element Injection (I)", which is currently sold by only two companies, including Future Pharmaceutical itself [4]. - Competitors in the market include Weixin Kang, which has seen fluctuating revenues for its trace element injection products, with a peak revenue of 182 million yuan in 2021, followed by a decline due to price reductions from centralized procurement [6][10]. Research and Development - Nanjing Pharmaceutical's R&D investment for the first half of 2025 was approximately 47 million yuan, accounting for 76.01% of its revenue, indicating a strong focus on developing core projects [11].

Group 1 - Nanjing Pharmaceutical's stock closed at 13.27 yuan, experiencing a decline of 10.82%, currently in a state of breaking issue [1] - The company was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on March 26, 2020, with an initial offering price of 34.94 yuan per share, issuing 35 million shares [1] - The total amount raised from the initial public offering (IPO) was 1.223 billion yuan, with a net amount of 1.135 billion yuan, exceeding the originally planned fundraising by 466 million yuan [1] Group 2 - In 2021, Nanjing Pharmaceutical announced a capital reserve distribution plan, increasing its total share capital from 140 million shares to 196 million shares by distributing 0.4 shares for each share held [2] - In 2022, the company further increased its total share capital to 274.4 million shares by distributing an additional 0.4 shares for each share held [2]

Market Overview - The chemical pharmaceutical sector experienced a decline of 2.93% on September 4, with Nanjing New Pharmaceutical leading the drop [1] - The Shanghai Composite Index closed at 3765.88, down 1.25%, while the Shenzhen Component Index closed at 12118.7, down 2.83% [1] Stock Performance - Notable gainers in the chemical pharmaceutical sector included: - Haijing Pharmaceutical: closed at 21.20, up 9.67% with a trading volume of 55,600 shares [1] - Jiankai Technology: closed at 99.80, up 7.60% with a trading volume of 44,400 shares [1] - Fuyuan Pharmaceutical: closed at 27.13, up 6.98% with a trading volume of 384,900 shares [1] - Conversely, significant decliners included: - Nanjing New Pharmaceutical: closed at 13.27, down 10.82% with a trading volume of 240,800 shares [2] - Maiwei Biotech: closed at 54.22, down 9.59% with a trading volume of 278,800 shares [2] - Yipinhong: closed at 67.27, down 7.58% with a trading volume of 124,800 shares [2] Capital Flow - The chemical pharmaceutical sector saw a net outflow of 2.173 billion yuan from institutional investors, while retail investors contributed a net inflow of 1.619 billion yuan [2][3] - The capital flow for specific stocks indicated: - Fuyuan Pharmaceutical had a net inflow of 212 million yuan from institutional investors [3] - Chenshin Pharmaceutical experienced a net inflow of 117 million yuan from institutional investors [3] - Qianyan Biotech had a net inflow of 102 million yuan from institutional investors [3]

Group 1 - The core point of the article is that Nanjing New Pharmaceutical announced it has not implemented share repurchase as of August 2025, but has repurchased a total of 265,516 shares, which represents 0.10% of the company's total share capital [2] Group 2 - The share repurchase was conducted through the Shanghai Stock Exchange trading system using centralized bidding [2] - The announcement was made on the evening of September 1 [2] - The repurchase activity reflects the company's strategy to manage its capital structure and potentially enhance shareholder value [2]

Summary of Key Points Core Viewpoint - Nanjing New Pharmaceutical (688189.SH) announced that as of August 31, 2025, it has not implemented any share buybacks, having repurchased a total of 265,516 shares, which represents 0.10% of the company's total share capital of 274,400,000 shares [1] Financial Details - The highest price for the repurchased shares was 7.86 CNY per share, while the lowest price was 7.02 CNY per share [1] - The total amount spent on the share repurchase was 1,967,393.92 CNY, excluding stamp duty and transaction commissions [1]

重要内容提示： | 回购方案首次披露日 | 2025/4/30 | | --- | --- | | 回购方案实施期限 | 2025/4/28~2026/4/27 | | 预计回购金额 | 1,000万元~2,000万元 | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 | | | □用于转换公司可转债 | | | □为维护公司价值及股东权益 | | 累计已回购股数 | 265,516股 | | 累计已回购股数占总股本比例 | 0.10% | | 累计已回购金额 | 1,967,393.92元 | | 实际回购价格区间 | 7.02元/股~7.86元/股 | 证券代码：688189 证券简称：南新制药 公告编号：2025-036 湖南南新制药股份有限公司 关于以集中竞价交易方式回购公司股份的进展公告 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。 上述股份回购符合法律法规的规定及公司回购股份方案的要求。 三、其他事项 一、回购股份的基本情况 湖南南新制药股份有限公司（以下简称"公司"）于 2025 年 4 月 ...

Core Viewpoint - Nanjing New Pharmaceutical (688189.SH) announced that as of August 31, 2025, it has not implemented any share buybacks, having repurchased a total of 265,516 shares, which represents 0.10% of the company's total share capital of 274,400,000 shares [1] Summary by Relevant Categories Share Buyback Activity - The company repurchased 265,516 shares through the Shanghai Stock Exchange's centralized bidding system [1] - The highest price for the repurchased shares was 7.86 CNY per share, while the lowest price was 7.02 CNY per share [1] - The total amount paid for the repurchased shares was 1,967,393.92 CNY, excluding stamp duty and transaction commissions [1]

Core Viewpoint - The company has submitted a marketing application for its nebulized solution of Levosalbutamol and has passed the on-site inspection, aiming for an early market launch [1] Group 1 - The company responded to an investor inquiry regarding which research and development project is closest to market launch [1] - The company is actively following up on the application status and is committed to bringing the product to market as soon as possible [1]