2023 年半年度募集资金存放与使用情况的专项报告 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个别及连带责任。 根据中国证券监督管理委员会印发的《上市公司监管指引第 2 号——上市公司募 集资金管理和使用的监管要求（2022 修订）》（证监会公告[2022]15 号）和上海证券 交易所发布的《上海证券交易所科创板上市公司自律监管指引第 1 号——规范运作》 等相关法律法规的规定及要求，前沿生物药业（南京）股份有限公司（以下简称"公 司"、"前沿生物"）董事会将公司 2023 年半年度募集资金存放与实际使用情况专项 说明如下： 一、实际募集资金基本情况 1． 募集资金基本情况 根据中国证券监督管理委员会出具的《关于同意前沿生物药业（南京）股份有限 公司首次公开发行股票注册的批复》（证监许可[2020]2232 号文），公司获准向社会 公开发行人民币普通股 89,960,000 股，每股发行价格为人民币 20.50 元，共募集资金 1,844,180,000.00 元；扣除发行费用（不含增值税）126,889,920.46 元后，募集资 ...

关于第三届董事会第九次会议相关事项的独立意见 根据《上市公司独立董事规则》《上海证券交易所科创板股票上市规则》等 规范制度以及《前沿生物药业（南京）股份有限公司章程》（以下简称"《公司章 程》"）、《独立董事工作细则》的要求，作为前沿生物药业（南京）股份有限公司 （以下简称"公司"）的独立董事，我们本着认真负责、实事求是的态度，对公 司第三届董事会第九次会议相关事项进行了认真的了解和查验并发表如下独立 意见： 一、关于公司 2023 年半年度募集资金存放与使用情况的独立意见 前沿生物药业（南京）股份有限公司独立董事 (以下无正文) 独立董事：CHI KIT NG（吴智杰）、王广基、KAI CHEN（陈凯） 2023 年 8 月 28 日 经审阅《2023 年半年度募集资金存放与使用情况的专项报告》，我们认为： 公司 2023 年半年度募集资金的存放和使用符合中国证监会、上海证券交易所关 于上市公司募集资金存放和使用的相关监管要求和管理办法，不存在变相改变募 集资金用途和损害股东利益的情形，不存在募集资金存放和使用违规的情形。公 司所披露的募集资金存放和使用情况信息与实际情况一致，如实履行了信息披露 义务。 综 ...

前沿生物药业（南京）股份有限公司（以下简称"公司"）于2023年8月8日 收到保荐机构中信证券股份有限公司（以下简称"中信证券"）出具的《关于更 换保荐代表人的函》。 中信证券作为公司 2022 年度以简易程序向特定对象发行 A 股股票项目（以 下简称"再融资项目"）的保荐机构，原委派周游先生和罗耸先生为再融资项目 及持续督导期间的保荐代表人，现因罗耸先生工作变动，不再继续担任公司持续 督导期间的保荐代表人。为保证持续督导工作的有序进行，中信证券现委派徐磊 先生（简历见附件）接替罗耸先生担任公司的保荐代表人，继续履行持续督导职 责。 证券代码：688221 证券简称：前沿生物 公告编号：2023-022 前沿生物药业（南京）股份有限公司 关于更换保荐代表人的公告 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个别及连带责任。 2 本次更换后，公司再融资项目持续督导期间的保荐代表人由周游先生、徐磊 先生担任，持续督导期至中国证券监督管理委员会和上海证券交易所规定的持续 督导义务结束为止。 1 附件： 徐磊先生简历 徐磊先生，保荐代表人，现 ...

Financial Performance - The company's revenue for Q1 2023 was ¥11,911,271, representing a 110.06% increase compared to the same period last year[5]. - The net profit attributable to shareholders was -¥75,708,310, with a basic and diluted earnings per share of -¥0.20[5]. - Net loss for Q1 2023 was ¥75,708,310.01, compared to a net loss of ¥59,241,597.75 in Q1 2022, indicating a deterioration in financial performance[24]. - Comprehensive loss for Q1 2023 totaled ¥75,720,718.28, compared to a comprehensive loss of ¥59,246,518.93 in Q1 2022[24]. - Basic and diluted earnings per share for Q1 2023 were both -¥0.20, compared to -¥0.16 in Q1 2022[24]. Revenue and Sales - The company achieved a revenue of RMB 11.91 million in Q1 2023, representing a year-on-year growth of 110%, primarily driven by sales of its core product, Aikening[14]. - Total operating revenue for Q1 2023 reached ¥11,911,271, an increase of 110.5% compared to ¥5,670,338.94 in Q1 2022[22]. - Cash received from sales of goods and services in Q1 2023 was ¥12,457,781.93, a decrease from ¥13,412,566.02 in Q1 2022[27]. Operating Costs and Expenses - The company experienced a 60.14% increase in operating costs, primarily due to increased sales volume[9]. - Total operating costs for Q1 2023 were ¥93,802,116.07, up from ¥73,476,784.35 in Q1 2022, representing a 27.7% increase[23]. - Research and development expenses totaled ¥44,347,571, accounting for 372.32% of revenue, a decrease of 259.48 percentage points year-on-year[6]. - Research and development expenses for Q1 2023 amounted to ¥44,347,571.68, an increase of 23.6% from ¥35,825,300.07 in Q1 2022[23]. Cash Flow - Cash flow from operating activities was -¥68,647,762.96[5]. - The net cash flow from operating activities was -68,647,762.96, compared to -34,410,228.06 in the previous year, indicating a significant decline in operational cash generation[28]. - Total cash outflow from operating activities was 103,800,954.73, compared to 94,833,107.17, showing an increase in operational expenses[28]. - Cash received from other operating activities was 16,967,529.79, compared to 32,298,557.04, indicating a decline in operational cash inflows[28]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,333,847,061, a decrease of 3.19% from the end of the previous year[6]. - Total liabilities as of Q1 2023 were ¥737,928,067.87, slightly down from ¥739,409,818.25 in Q1 2022[19]. - Total equity attributable to shareholders of the parent company was ¥1,595,918,993.14, down from ¥1,671,449,391.84 in Q1 2022[19]. - Non-current liabilities totaled ¥469,997,166.21 in Q1 2023, an increase from ¥462,179,699.47 in Q1 2022[19]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 15,931[11]. - The top shareholder, Jianmu Pharmaceutical Co., Ltd., holds 18.86% of the shares, totaling 70,638,750 shares[11]. Product and Market Development - The company has established coverage in over 280 HIV treatment hospitals and more than 150 DTP pharmacies across 28 provinces in China by the end of the reporting period[14]. - The company hosted a national academic seminar on "Personalized Antiviral Treatment," where over 70 experts shared clinical applications and patient benefits of Aikening[15]. - Aikening's invention patent received the "China Patent Gold Award," recognizing its significance in the field of AIDS prevention and control in China[15]. - The company is actively promoting Aikening for outpatient treatment reimbursement to enhance long-term medication affordability[14]. Cash and Inventory - The company's cash and cash equivalents stood at RMB 592.18 million, an increase from RMB 550.89 million at the end of 2022[17]. - The company's inventory increased to RMB 71.50 million from RMB 55.61 million at the end of 2022[18]. - Short-term borrowings rose to RMB 175.16 million from RMB 110.64 million at the end of 2022[18]. - Short-term borrowings increased by 58.32%, attributed to additional borrowing[9].

Financial Performance - The company achieved a revenue of 84.74 million yuan in 2022, representing a year-on-year increase of 109.22%[4] - The net profit attributable to shareholders of the listed company for 2022 was a loss of RMB 356.76 million, representing a 37.19% increase in loss compared to the previous year [24] - The net cash flow from operating activities in 2022 was a negative RMB 289.04 million, an increase in cash outflow compared to RMB 243.07 million in 2021 [24] - By the end of 2022, the net assets attributable to shareholders of the listed company decreased by 8.68% to RMB 1.67 billion [24] - The total assets of the company at the end of 2022 were RMB 2.41 billion, a decrease of 4.81% compared to the previous year [23] - The company reported a weighted average return on equity of -20.96% in 2022, a decrease of 7.94 percentage points from the previous year [23] - The company plans to not distribute cash dividends or issue bonus shares for the 2022 fiscal year[7] Research and Development - Research and development expenses for 2022 amounted to 274.33 million yuan, an increase of 59.39% compared to the previous year[4] - The company's R&D expenditure accounted for 323.73% of operating revenue in 2022, a decrease of 101.20 percentage points from 2021 [23] - The company has filed 10 patent applications during the reporting period, strengthening its intellectual property framework[55] - The number of R&D personnel increased to 94, representing 23.97% of the total workforce, with an average salary of RMB 50.37 thousand[128] - The company reported a 59.39% increase in R&D expenses, totaling CNY 274.33 million, which represents 323.73% of its operating revenue[111] - The R&D investment capitalized ratio was 0%, indicating all R&D expenses were expensed[180] Product Development and Pipeline - The core product, Aikening, continues to advance in the commercialization process[4] - The company is focusing on the development of multiple new drugs in clinical trials to enrich its product pipeline[4] - The company is engaged in the development of several new products, including FB1002 for HIV treatment and FB2001 for COVID-19[14] - The company has made significant progress in overseas registration, obtaining drug registration in four countries and submitting applications in eight others[45] - The company is advancing multiple projects, including FB2001 for treating COVID-19 patients, with a total expected investment of ¥60 million and ongoing clinical trials[125] - The company is focusing on unmet clinical needs in HIV drug development, targeting a blue ocean market with differentiated product strategies[132] Market and Sales Strategy - The company aims to expand its market presence by covering over 250 HIV treatment hospitals and 130 DTP pharmacies nationwide[130] - The company plans to expand into overseas markets, collaborating with local partners to navigate regulatory environments[141] - The company aims to increase its international sales proportion and expand into emerging pharmaceutical markets[189] - The company will continue to expand its marketing network in the domestic market, accelerating the integration of Aikening into medical insurance and enhancing its accessibility[190] Clinical Trials and Approvals - The company completed Phase I clinical trials for the injectable FB2001 in China and the US, and initiated a Phase II/III trial for hospitalized moderate to severe COVID-19 patients, currently in the subject enrollment stage[47] - The company has received approval for the intravenous administration of Aikening, enhancing its delivery methods[111] - Aikening transitioned from conditional approval to regular approval, confirming its clinical efficacy, safety, and quality control[178] - The company has received CGT designation for FB4001 from the FDA, which allows for expedited approval and a 180-day market exclusivity period, significantly advancing the drug's market entry[52] Operational Challenges and Risks - The company experienced a significant increase in operating expenses, primarily due to rising employee compensation and various operational costs [24] - The company faces risks related to its reliance on Aikening for revenue, as other products are still in clinical trials, making it vulnerable to market changes[138] - The company is currently in a significant R&D investment phase, with multiple products in clinical trials, which may prolong the path to profitability[133] Awards and Recognition - The company received multiple awards in 2022, including recognition as a "Top 30 Innovative Small Molecule Drug Company" and "Top 10 Most Growth-Oriented Small Molecule Innovative Drug Companies" in China[60] Production and Manufacturing - The company has established three industrialization bases in Nanjing, Sichuan, and Shandong, enhancing its production capacity for commercialized drugs[131] - The company achieved a 100% product pass rate at its Nanjing production base, which has passed GMP compliance inspections, facilitating international registration efforts[53] - The company’s production capabilities include self-built production bases and contracted manufacturing organizations (CMOs), ensuring compliance with GMP standards[83][84]

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个别及连带责任。 重要内容提示： 公司已于 2023 年 3 月 31 日发布公司 2022 年度报告，为便于广 大投资者更全面深入地了解公司 2022 年度经营成果、财务状况，公 司计划于 2023 年 04 月 24 日下午 15:00-16:00 举行 2022 年度业绩 说明会，就投资者关心的问题进行交流。 一、 说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2022 年度 会议召开时间：2023 年 04 月 24 日(星期一)下午 15:00-16:00 会议召开地点： 上海证券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 04 月 17 日(星期一)至 04 月 21 日(星期 五)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目 或通过前沿生物药业（南京）股份有限公司（以下简称"公司"） 邮箱 invest@frontie ...

证券代码：688221 证券简称：前沿生物 编号：2022-002 投资者关系活动记录表 | --- | --- | --- | |-------------------|------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Financial Performance - The company's operating revenue for Q3 2022 was ¥31,492,171.81, representing a year-on-year increase of 166.12%[4] - The net profit attributable to shareholders was -¥103,250,095.53, with a year-to-date net profit of -¥226,508,768.06[4] - In Q3 2022, the company achieved sales revenue of 31.49 million yuan, a quarter-on-quarter increase of 53.65% and a year-on-year increase of 166.12%[15] - From January to September 2022, the company reported sales revenue of 57.66 million yuan, reflecting a year-on-year growth of 66.42%, primarily driven by the sales growth of the product Aikening in the domestic market[15] - Total operating revenue for the first three quarters of 2022 reached CNY 57,658,276.97, a significant increase of 66.4% compared to CNY 34,645,314.42 in the same period of 2021[24] - The net loss for the first three quarters of 2022 was CNY 226,508,768.06, compared to a net loss of CNY 182,588,009.18 in the same period of 2021[25] Research and Development - Research and development expenses totaled ¥82,015,797.93 for the quarter, accounting for 260.43% of operating revenue, a decrease of 54.32 percentage points year-on-year[6] - As of the end of the reporting period, the company's R&D investment reached 163.08 million yuan, a year-on-year increase of 49.37%, mainly due to increased spending on the development of the COVID-19 antiviral drug FB2001[19] - Research and development expenses for the first three quarters of 2022 were CNY 163,077,212.38, representing a 49.3% increase from CNY 109,174,771.42 in the previous year[24] - The international multi-center, randomized, double-blind, placebo-controlled Phase II/III clinical trial for injectable FB2001 has commenced, with subjects enrolled and dosed[19] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 14,585[12] - The top shareholder, Jianmu Pharmaceutical Co., Ltd., held 70,638,750 shares, representing 18.86% of the total shares[12] Cash Flow and Assets - The net cash flow from operating activities was -¥186,815,442.24 year-to-date, indicating ongoing financial challenges[4] - The company reported a significant increase in cash and cash equivalents, totaling approximately 995.27 million yuan, up from 800.85 million yuan at the end of 2021[21] - Total cash inflow from operating activities for the first three quarters of 2022 was CNY 174,853,420.03, a significant increase from CNY 65,689,235.63 in the same period of 2021[26] - Cash outflow from operating activities increased to CNY 361,668,862.27 in 2022 from CNY 223,010,190.10 in 2021, resulting in a net cash flow from operating activities of -CNY 186,815,442.24[26] - The company's total assets at the end of the reporting period were ¥2,621,275,282.34, reflecting a 3.50% increase compared to the end of the previous year[6] - The company's total liabilities as of the third quarter of 2022 were CNY 819,844,508.03, an increase from CNY 702,406,533.36 in the previous year[24] - The total equity attributable to shareholders was CNY 1,801,430,774.31, slightly down from CNY 1,830,225,953.70 year-on-year[24] Government Support - The company received government subsidies amounting to ¥5,039,000.12 during the quarter, contributing to its financial performance[8] Product Development and Market Strategy - The increase in operating revenue was primarily due to higher sales of the product Aikening[9] - The average medication cycle for Aikening has gradually extended, with an increasing willingness among patients for long-term medication, indicating enhanced patient adherence[16] - The company conducted a series of academic promotional activities, focusing on various aspects of HIV treatment and prevention, which have positively influenced the prescribing habits of grassroots clinicians[17] - Aikening's intravenous administration method has been approved, which will enhance clinical convenience and expand application scenarios, including the transition from inpatient to outpatient settings[18]

Financial Performance - The company reported a significant increase in revenue for the first half of 2022, with total revenue reaching ¥XX million, representing a YY% growth compared to the same period last year[14]. - The company's operating revenue for the first half of 2022 was CNY 26,166,105.16, representing a year-on-year increase of 14.71%[21]. - The company achieved a revenue of CNY 26.17 million for the first half of 2022, representing a year-on-year increase of 14.71% primarily due to the growth in sales of its product Aikening[118]. - The net loss attributable to shareholders for the same period was CNY -123,258,672.53, an increase in loss of 31.90% compared to the previous year[23]. - The net profit attributable to shareholders for the same period was CNY -123.26 million, indicating ongoing losses as the company has not yet become profitable[109]. - The company reported government subsidies amounting to CNY 15,887,348.28, which contributed positively to its financial results[25]. - The total net assets attributable to shareholders decreased by 6.64% to CNY 1,708,743,679.18 compared to the end of the previous year[21]. - The company's total assets at the end of the reporting period were CNY 2,490,867,659.36, a decrease of 1.65% from the end of the previous year[21]. Research and Development - Research and development expenses accounted for 309.80% of operating revenue, an increase of 64.19 percentage points year-on-year[22]. - R&D expenditure reached 81.06 million yuan, an increase of 44.68% year-on-year, accounting for 309.80% of operating revenue[65][72][73]. - The company is focused on developing innovative drugs, including the first long-acting HIV fusion inhibitor, Aikening, and is also working on treatments for COVID-19 and other viral diseases[28]. - The company has a robust pipeline with multiple products in various stages of clinical research, including FB1002 for HIV and FB2001 for COVID-19[29]. - The company is advancing multiple projects, including FB2001 for COVID-19 treatment, which is currently in Phase I clinical trials in the US and has received approval for Phase II/III trials in China[76]. - The company has completed 6 invention patent applications during the reporting period, including 4 domestic and 2 PCT applications, enhancing its patent portfolio[68][70]. - The company has achieved significant progress in its core technologies, including the development of stable cell culture and purification processes for its antibodies[64]. Market Expansion and Strategy - The company is expanding its market presence, with plans to enter new regions and increase distribution channels by CC%[14]. - The company is focused on expanding its market presence in developing countries while maintaining a strong foothold in the domestic market[81]. - The company is actively pursuing the commercialization of Aikening in both domestic and international markets, with ongoing drug registrations in countries like Ecuador, Cambodia, and Azerbaijan[109]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product offerings[14]. - A strategic acquisition of a competitor is in progress, which is anticipated to enhance the company's product offerings and market reach[162]. Product Development - New product development includes the advancement of FB1002, an innovative therapy for HIV, which is currently in clinical trials[13]. - Aikening, a long-acting HIV fusion inhibitor, is the first globally approved drug of its kind, with a half-life of 11-12 days, significantly longer than typical peptide drugs[32][34]. - FB2001, an investigational drug for COVID-19, has shown an IC₅₀ of 0.053±0.005μM against the virus's 3CL protease, indicating strong antiviral activity[40]. - FB1002, a long-acting injectable HIV treatment, is designed to be administered every 2-4 weeks, targeting multiple drug-resistant HIV strains[43][44]. - FB3001, a new transdermal analgesic patch, has shown statistically significant efficacy in alleviating back pain in Phase II clinical trials in the US[45]. - FB6001, the world's first peptide vaccine targeting PCSK9 for long-term lipid-lowering, has completed Phase I trials in Europe, demonstrating good safety and significant LDL-C reduction[46]. Operational Efficiency - The financial report highlights a decrease in operational costs by DD%, contributing to improved profit margins[14]. - The company has committed to investing ¥EE million in new technology to enhance production capabilities and ensure compliance with GMP standards[14]. - The company has received production licenses for its manufacturing facilities in Jiangning and Sichuan, enhancing its production capabilities[67]. - The company has established a marketing network covering over 250 HIV treatment hospitals and 130 DTP pharmacies across 28 provinces in China[87]. Risk Management - Risk factors have been identified, including market competition and regulatory changes, which the company is actively monitoring and addressing[4]. - The company faces risks related to product concentration, as Aikening remains its primary revenue source while other products are still in clinical trials[112]. Environmental Compliance - The company strictly adheres to environmental regulations, with major pollutants including wastewater, waste gas, and solid waste being managed according to national standards[140]. - The company has implemented a carbon emission reduction plan, including measures such as controlling lighting and air conditioning usage, and installing water-saving devices[155]. - The company has established a systematic monitoring process for emissions and solid waste disposal to ensure compliance with environmental regulations[145]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[152]. Shareholder and Governance - Shareholder returns are expected to increase, with a proposed dividend of $0.50 per share, reflecting the company's strong financial performance[162]. - The company has committed to not transferring or entrusting the management of its pre-IPO shares for 36 months from the date of listing[164]. - The company will ensure compliance with regulations regarding stock reduction and disclosure obligations[170]. - The actual controller DONG XIE has committed to avoid any business competition with the company and its subsidiaries, ensuring no competitive activities will occur during his control period[185].

Company Overview - The company is a research-driven biopharmaceutical firm focusing on antiviral and chronic disease drug development, with a core product, Aikening, already on the market[4]. - The company has not achieved profitability in 2021 due to high R&D investments and sales expenses related to market promotion[4]. - The company is expanding its R&D and marketing teams to support business growth, maintaining significant R&D expenditures[4]. - The company has a strong focus on the HIV innovation drug track, demonstrating international competitiveness[4]. - The company is a leading domestic innovator in HIV drugs and is the principal unit for a national project on innovative drug development for AIDS[95]. Financial Performance - In 2021, the company's operating revenue was CNY 40.50 million, a decrease of 13.13% compared to 2020[23]. - The net profit attributable to shareholders was a loss of CNY 260.06 million, representing an increase in loss of 12.71% year-on-year[24]. - The basic earnings per share for 2021 was -CNY 0.72, compared to -CNY 0.80 in 2020[23]. - The net cash flow from operating activities was a negative CNY 243.07 million, worsening from a negative CNY 170.17 million in 2020[24]. - The company's total assets at the end of 2021 were CNY 2.53 billion, a slight increase of 0.65% from 2020[23]. - The net assets attributable to shareholders decreased by 14.60% to CNY 1.83 billion by the end of 2021[23]. - The company reported a total of CNY 50.97 million in non-recurring gains and losses for 2021[29]. Research and Development - The company is advancing multiple clinical trials for various products both domestically and internationally[4]. - The company is developing FB1002, a combination therapy for HIV, and FB3001, a new transdermal patch for musculoskeletal pain[15]. - The clinical trial for the COVID-19 drug FB2001 is ongoing in China and the United States, with the U.S. Phase I trial nearing completion[44]. - The company achieved a total R&D investment of approximately ¥172.11 million, representing a year-over-year increase of 24.27%[107]. - R&D investment accounted for 424.93% of operating revenue, an increase of 127.88 percentage points compared to the previous year[107]. - The company has filed for 19 new patents this year, with 1 patent granted, bringing the total granted patents to 13[105]. Product Development and Market Strategy - The company is focusing on the development of innovative HIV drugs, particularly the long-acting drug Aikening, which targets unmet clinical needs and aims to capture a blue ocean market[119]. - Aikening was included in the medical insurance reimbursement list in 23 provinces, enhancing patient access and treatment continuity[36]. - The company plans to expand its market presence by increasing the number of hospitals and pharmacies that carry Aikening, currently covering over 200 HIV treatment hospitals and more than 100 DTP pharmacies across 28 provinces[125]. - The company is actively advancing the clinical trials of its upgraded combination therapy FB1002 in both China and the United States[119]. Operational Risks and Compliance - The company has outlined various operational risks and corresponding mitigation strategies in its report[5]. - The company emphasizes the importance of investor awareness regarding investment risks associated with forward-looking statements[9]. - Regulatory changes in the biopharmaceutical industry could pose risks to the company's operations and compliance costs[127]. - The company has established a robust information disclosure management system, ensuring timely and accurate disclosure of financial and operational information[187]. Market Trends and Future Outlook - The global HIV drug market reached $37 billion in 2019 and is projected to grow to $65.9 billion by 2034, with innovative drugs capturing significant market share[83]. - The HIV antiviral drug market in China is expected to exceed 10 billion yuan by 2027, showing rapid growth[85]. - The company aims to enhance the accessibility of its products and extend the average medication duration for its key product, Aikening, in the domestic market[179]. - The company is committed to enhancing its international market operations and strengthening investment cooperation with countries along the Belt and Road Initiative[98]. Corporate Governance - The company has a board of directors consisting of 7 members, including 3 independent directors, ensuring compliance with legal requirements and a reasonable professional structure[186]. - The company has not provided any guarantees or financial assistance to its controlling shareholders or related parties, maintaining independence in its operations[187]. - The company has implemented a comprehensive investor relations management system to facilitate communication with investors and address their information needs[188].