Core Viewpoint - The report highlights the trends and statistics in the Chinese chemical pharmaceutical industry, indicating a slight decline in production while maintaining overall growth in the first nine months of 2025 [1]. Industry Summary - In September 2025, the production of chemical pharmaceutical raw materials in China was 295,000 tons, representing a year-on-year decrease of 3.6% [1]. - Cumulatively, from January to September 2025, the total production of chemical pharmaceutical raw materials reached 2.721 million tons, showing a cumulative growth of 1.2% [1]. - The report is based on data from the National Bureau of Statistics and is compiled by Zhiyan Consulting, a leading industry consulting firm in China [1]. Company Summary - Listed companies in the chemical pharmaceutical sector include Heng Rui Medicine (600276), East China Pharmaceutical (000963), Lizhu Group (000513), Baiyunshan (600332), North China Pharmaceutical (600812), Haizheng Pharmaceutical (600267), Fosun Pharmaceutical (600196), Kelun Pharmaceutical (002422), Enhua Pharmaceutical (002262), and Xianju Pharmaceutical (002332) [1].

Core Viewpoint - Lijun Group's P-CAB product JP-1366 has been submitted for market approval for tablet form in July 2024, and the injection form has entered Phase II clinical trials in October, marking it as the first P-CAB drug in China to conduct research on injection form [1] Group 1: Product Development - The company is leveraging its established product portfolio and sales channels in the gastrointestinal field to accelerate market penetration of JP-1366 [1] - JP-1366 is expected to create a synergistic effect with existing PPI products [1] Group 2: Market Potential - The P-CAB market is experiencing rapid growth, with projected domestic sales reaching approximately 1.25 billion in 2024, representing an 81% year-on-year increase [1]

Group 1: R&D Progress and Market Position - The LZM012 project has completed Phase III clinical trials for psoriasis and ankylosing spondylitis, with a formal market application expected next month for psoriasis and in the first half of next year for ankylosing spondylitis [2][3] - LZM012 is the first domestic Phase III study targeting psoriasis with PASI100 as the primary endpoint, showing superior efficacy compared to existing treatments, with fewer administration cycles and lower overall costs [2][3] - The JP-1366 tablet of the P-CAB product has been submitted for market approval, with the injection form entering Phase II clinical trials, capitalizing on the growing P-CAB market projected to reach approximately CNY 1.25 billion in 2024, an 81% year-on-year increase [3][4] Group 2: Strategic Product Development - The company is focusing on the schizophrenia long-acting injection market, with the recently approved aripiprazole microsphere being the first of its kind in China, included in the 2025 guidelines for schizophrenia treatment [4][5] - The company is advancing a new generation KCNQ2/3 activator, NS-041, which is a first-class new drug with unique molecular design, targeting both epilepsy and depression indications [5] - The company has established a comprehensive product pipeline for GnRH-a long-acting release formulations, with the approval of the first microsphere product and plans for further submissions, enhancing treatment options for various conditions [6][7] Group 3: Financial Health and Strategic Acquisitions - The company maintains a robust cash reserve, allowing for dividends, buybacks, daily operations, R&D investments, and potential strategic acquisitions [8][9] - A planned acquisition of a Vietnamese company is underway, marking the first acquisition of a Vietnamese pharmaceutical company by a Chinese enterprise, with ongoing compliance with local regulations [9] - The company aims to focus on strategic partnerships in areas such as digestion, mental health, cardiovascular, metabolic, and autoimmune diseases, targeting projects with patent barriers and commercialization potential [9]

Core Insights - The company focuses on sustainable development through R&D innovation and internationalization, enhancing its presence in "strong advantages" and "high potential chronic disease" sectors, particularly in digestion, mental health, cardiovascular, metabolism, and autoimmune fields [1] Investment Highlights - The company maintains a "buy" rating and raises the target price to CNY 49.13 per share from CNY 43.96. Projected revenues for 2025-2027 are CNY 120.36 billion, CNY 123.95 billion, and CNY 130.29 billion, with growth rates of 1.9%, 3.0%, and 5.1% respectively. Net profits are forecasted at CNY 22.21 billion, CNY 22.95 billion, and CNY 23.91 billion, with growth rates of 7.7%, 3.4%, and 4.2%. EPS is expected to be CNY 2.46, CNY 2.54, and CNY 2.64 [2] R&D Pipeline Progress - The company reports significant advancements in its R&D pipeline. In the digestion sector, the P-CAB product JP-1366 tablet has been submitted for market approval, and the injection form has completed the first patient enrollment in Phase II. In the autoimmune sector, the IL-17A/F psoriasis and ankylosing spondylitis indications have completed Phase III trials, with psoriasis expected to be submitted for approval this year. In the mental health sector, the NS-041 tablet for epilepsy has completed Phase II enrollment, and the IND application for depression has been accepted. The new indication for Triptorelin microspheres for central precocious puberty has completed Phase III enrollment. Additionally, a new oral GnRH antagonist project for assisted reproduction is preparing for Phase II trials, and a quadrivalent influenza recombinant protein vaccine has completed Phase I enrollment. The semaglutide diabetes indication is expected to be approved this year, with the weight loss indication in late Phase III trials [3] International Expansion - The company is enhancing its overseas business layout, particularly in Vietnam, where a company acquisition is under approval. The target company, Imexpharm, has shown stable performance with over 20% growth in revenue, profit, and EBITDA. Imexpharm has the largest EU-GMP product line in Vietnam, and both companies are planning product and process transfers to leverage Imexpharm's established market channels and EU-GMP certification for expanding innovative drug products into overseas markets [3] Catalysts - Key catalysts include the ramp-up of new product volumes, clinical data from innovative drug pipelines, and external collaborations for licensing innovative drug pipelines [4]

Core Points - The company has nominated Ms. Wang Zhiyao as an independent non-executive director candidate for the 11th Board of Directors, pending approval at the shareholders' meeting [1] - Ms. Wang has completed the required independent director training and obtained the necessary certification recognized by the Shenzhen Stock Exchange [2] - The qualifications and independence of the independent director candidate have been reviewed and approved by the Shenzhen Stock Exchange without any objections [2] Summary by Sections - **Nomination of Independent Director**: The company held a board meeting on November 10, 2025, where it approved the nomination of Ms. Wang Zhiyao as an independent non-executive director candidate, subject to shareholder approval [1] - **Training Certification**: As of the date of the first extraordinary shareholders' meeting notification, Ms. Wang had not yet obtained the independent director training certification. However, she has since completed the training and received the certification [2] - **Regulatory Compliance**: The independent director candidate's qualifications and independence have been filed and reviewed by the Shenzhen Stock Exchange, confirming no issues [2]

Core Viewpoint - Lijun Group (000513.SZ) has announced that Ms. Wang Zhiyao has completed the recent independent director pre-appointment training (online) and has obtained the training certificate recognized by the Shenzhen Stock Exchange [1] Group 1 - The company has received notification from Ms. Wang Zhiyao regarding her participation in the independent director training [1] - The training was conducted online and is recognized by the Shenzhen Stock Exchange [1] - The completion of this training is a step towards enhancing corporate governance within the company [1]

Core Points - Lijun Group announced the nomination of Ms. Wang Zhiyao as an independent non-executive director candidate for the 11th Board of Directors [2] - The proposal will be submitted for approval at the upcoming shareholders' meeting, with her term starting from the date of approval until the end of the current board's term [2] - Ms. Wang has completed the required training for independent directors and has received certification recognized by the Shenzhen Stock Exchange [2] - The qualifications and independence of the independent director candidate have been reviewed and approved by the Shenzhen Stock Exchange without any objections [2]

Core Viewpoint - The company has nominated Ms. Wang Zhiyao as an independent non-executive director candidate, pending approval at the upcoming shareholders' meeting [1] Group 1: Board Meeting and Nomination - The company's board of directors will hold its 28th meeting of the 11th session on November 10, 2025, to review the nomination of Ms. Wang Zhiyao [1] - The nomination requires approval from the company's shareholders and will be effective from the date of approval until the end of the 11th board session [1] Group 2: Training and Qualifications - As of the date of the notice for the first extraordinary shareholders' meeting in 2025, Ms. Wang has not yet obtained the independent director training certification [1] - Ms. Wang has committed to participate in the most recent independent director pre-appointment training and has obtained the necessary certification recognized by the Shenzhen Stock Exchange [1] - The qualifications and independence of the independent director candidate have been reviewed and approved by the Shenzhen Stock Exchange without any objections [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而 引致的任何損失承擔任何責任。 承董事會命 麗珠醫藥集團股份有限公司 Livzon Pharmaceutical Group Inc. * 公司秘書 劉寧 中國，珠海 二零二五年十一月十三日 自願公告 獨立董事候選人取得深圳證券交易所獨立董事培訓證明 麗珠醫藥集團股份有限公司 Livzon Pharmaceutical Group Inc.*（「本公司」，連同其附屬公司統稱為 「本集團」）董事會（「董事會」）於2025年11月10日召開第十一屆董事會第二十八次會議，審議通過 了《關於提名王智瑤女士為公司獨立非執行董事候選人的議案》，提名王智瑤女士（「王女士」）為第 十一屆董事會獨立非執行董事候選人。本議案尚需提交本公司股東大會審議，任期自本公司股東大會審 議通過之日起至本公司第十一屆董事會屆滿之日。詳情請見本公司日期為2025年11月10日之公告《建議 選舉獨立非執行董事》。 截至2025年第一次臨時股東大會（「臨時股東大會」）通知發 ...

证券代码：000513、01513 证券简称：丽珠集团、丽珠医药 公告编号：2025-072 丽珠医药集团股份有限公司 关于独立董事候选人取得独立董事培训证明的公告 截至 2025 年第一次临时股东大会通知发出之日，王智瑶女士尚未取得独立 董事培训证明。根据深圳证券交易所的相关规定，王智瑶女士已书面承诺参加最 近一次独立董事任前培训并取得深圳证券交易所认可的上市公司独立董事培训 证明。 近日，公司收到王智瑶女士通知，其已参加最近一次独立董事任前培训（线 上）并取得深圳证券交易所认可的上市公司独立董事培训证明。此外，独立董事 候选人的任职资格和独立性已经深圳证券交易所备案审核无异议。 特此公告。 本公司及董事会全体成员保证信息披露内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 丽珠医药集团股份有限公司（以下简称"公司"）于 2025 年 11 月 10 日召开 第十一届董事会第二十八次会议，审议通过了《关于提名王智瑶女士为公司独立 非执行董事候选人的议案》，提名王智瑶女士为第十一届董事会独立非执行董事 候选人。本议案尚需提交公司股东大会审议，任期自公司股东大会审议通过之日 起至公司第十一届董事会届 ...