Core Viewpoint - The article discusses the approval and clinical development of RAY1225, a GLP-1 receptor agonist developed by Guangdong Zhongsheng Ruichuang Biotechnology Co., Ltd., highlighting its potential in treating obesity and related complications, particularly obstructive sleep apnea [4][8]. Group 1: Product Approval and Clinical Trials - RAY1225 has received approval for a new clinical trial aimed at treating obesity combined with obstructive sleep apnea, marking it as one of the few GLP-1 candidates in this area [4]. - The drug has previously been approved for three indications: obesity, type 2 diabetes, and metabolic dysfunction-related fatty liver disease, covering key areas such as weight loss and blood sugar control [4]. - Currently, RAY1225 is advancing three Phase III clinical trials, including one focused on weight management in overweight and obese populations and two studies for type 2 diabetes treatment [7]. Group 2: Mechanism and Advantages - RAY1225 is characterized by its dual activation of GLP-1 and GIP receptors, promoting insulin secretion and suppressing glucagon release in a glucose-dependent manner, which aids in blood sugar control [5]. - The drug's pharmacokinetic properties allow for a longer exposure time and stable blood concentration, enabling a biweekly injection schedule, which is crucial for improving patient adherence [7]. Group 3: Commercialization and Market Potential - In January 2026, Zhongsheng Ruichuang entered a partnership with Qilu Pharmaceutical for the production and commercialization of RAY1225 in China, with a total transaction value of 1 billion yuan, indicating strong recognition of the product's clinical value and market potential [8]. - The expansion of RAY1225's indications, particularly into high comorbidity scenarios like obesity with obstructive sleep apnea, reflects a broader trend in the domestic GLP-1 development landscape towards addressing obesity-related complications [8].

Group 1 - The traditional Chinese medicine sector saw an increase of 0.9% on January 26, with Te Yi Pharmaceutical leading the gains [1] - The Shanghai Composite Index closed at 4132.61, down 0.09%, while the Shenzhen Component Index closed at 14316.64, down 0.85% [1] - Key stocks in the traditional Chinese medicine sector showed significant price movements, with Te Yi Pharmaceutical rising by 10.01% to a closing price of 13.19 [1] Group 2 - The traditional Chinese medicine sector experienced a net inflow of 594 million yuan from institutional investors, while retail investors saw a net outflow of the same amount [2] - The top gainers included Te Yi Pharmaceutical, which had a net inflow of 286 million yuan, accounting for 37.60% of the total [3] - Conversely, major losers included Wei Kang Pharmaceutical, which fell by 8.50% to a closing price of 29.40, with a trading volume of 86,100 shares [2]

截至1月26日收盘，禽流感概念上涨6.89%，位居概念板块涨幅第1，板块内，25股上涨，之江生物、华 兰疫苗等20%涨停，达安基因涨停，永顺生物、东方生物、莱茵生物等涨幅居前，分别上涨27.18%、 12.36%、9.05%。 今日涨跌幅居前的概念板块 （文章来源：证券时报网） 禽流感概念资金流入榜 物 | 概念 | 今日涨跌幅（%） | 概念 | 今日涨跌幅（%） | | --- | --- | --- | --- | | 禽流感 | 6.89 | 军工信息化 | -4.70 | | 金属铅 | 6.22 | 太赫兹 | -4.42 | | 金属锌 | 5.85 | 同花顺新质50 | -4.24 | | 黄金概念 | 5.02 | 军民融合 | -3.87 | | 动物疫苗 | 4.89 | 卫星导航 | -3.84 | | 芬太尼 | 4.18 | 商业航天 | -3.56 | | 金属铜 | 3.81 | 国产航母 | -3.52 | | 猴痘概念 | 3.13 | 减速器 | -3.51 | | 生物疫苗 | 2.98 | 大飞机 | -3.39 | | 金属钴 | 2.70 | 成飞概念 | -3 ...

截至发稿，马君累计任职时间13年148天，现任基金资产总规模508.95亿元，任职期间最佳基金回报 144.61%， 任职期间最差基金回报-75.62%。 数据显示，银华基金旗下1只基金重仓众生药业。中药（562390）四季度持有股数13.1万股，占基金净 值比例为3.2%，位居第十大重仓股。根据测算，今日浮盈赚取约16.38万元。 中药（562390）成立日期2022年7月20日，最新规模7769.73万。今年以来收益1.81%，同类排名 4593/5579；近一年收益2.61%，同类排名4183/4270；成立以来亏损2.85%。 中药（562390）基金经理为马君。 1月26日，众生药业涨5.81%，截至发稿，报22.78元/股，成交12.77亿元，换手率7.50%，总市值193.61 亿元。 资料显示，广东众生药业股份有限公司位于广东省东莞市石龙镇西湖工业区信息产业园，成立日期2001 年12月31日，上市日期2009年12月11日，公司主营业务涉及药品的研发、生产和销售。主营业务收入构 成为：中成药销售53.03%，化学药销售38.12%，中药材及中药饮片销售6.13%，原料药及中间体销售 2.14 ...

Group 1 - The A-share influenza vaccine sector is experiencing a strong performance, with companies such as Da'an Gene, Hualan Biological Engineering, and Zhijiang Biological reaching their daily limit up [1] - Yongshun Biological has seen an increase of over 10%, indicating positive market sentiment towards the sector [1] - Other companies in the sector, including Dongfang Biological, Biological Shares, Zhongsheng Pharmaceutical, Yiling Pharmaceutical, and Rhine Biological, are also witnessing gains [1]

Investment Rating - The industry rating is neutral, indicating that the overall return is expected to be between -5% and 5% relative to the CSI 300 index over the next six months [9]. Core Insights - The pharmaceutical sector experienced a gain of 1.26% on January 23, 2025, outperforming the CSI 300 index by 1.71 percentage points, ranking 10th among 31 sub-industries in the Shenwan classification. Notable performers included offline pharmacies (+6.79%), pharmaceutical distribution (+2.66%), and vaccines (+2.26%), while blood products (+0.58%), medical R&D outsourcing (+0.68%), and in vitro diagnostics (+1.37%) lagged behind [4]. - Takeda's new drug Oveporexton has been proposed for priority review by the National Medical Products Administration (NMPA) in China, aimed at treating narcolepsy type 1 in patients aged 16 and above. The drug has shown positive results in two pivotal Phase 3 studies [5]. Sub-industry Summary - Chemical Pharmaceuticals: No rating [3] - Traditional Chinese Medicine: No rating [3] - Biopharmaceuticals II: Neutral [3] - Other Pharmaceuticals: Neutral [3]

Core Viewpoint - The announcement highlights that Zhongsheng Pharmaceutical's subsidiary, Guangdong Zhongsheng Ruichuang Biotechnology Co., Ltd., has received approval from the National Medical Products Administration for a Phase III clinical trial of its innovative polypeptide drug RAY1225 injection, targeting obesity combined with obstructive sleep apnea [1] Group 1 - RAY1225 injection is an innovative polypeptide drug developed by Zhongsheng Ruichuang, possessing global intellectual property rights [1] - The drug exhibits dual agonistic activity on GLP-1 and GIP receptors, indicating its potential effectiveness in treating obesity-related conditions [1] - RAY1225 injection is characterized by excellent pharmacokinetic properties, allowing for administration once every two weeks, showcasing its long-acting potential [1]

Core Viewpoint - The company has received approval from the National Medical Products Administration for the Phase III clinical trial of its innovative peptide drug RAY1225 injection, which now includes a new indication for the treatment of "obesity combined with obstructive sleep apnea" [1] Group 1 - The company's subsidiary, Guangdong Zhongsheng Ruichuang Biotechnology Co., Ltd., is responsible for the development of RAY1225 injection [1] - The approval includes a notification for the clinical trial of the new indication [1] - This development highlights the company's commitment to expanding its product pipeline in the biopharmaceutical sector [1]

Summary of the Conference Call for Guangdong Zhongsheng Pharmaceutical Co., Ltd. Company Overview - Guangdong Zhongsheng Pharmaceutical Co., Ltd. was established in 1979 and is recognized as one of the top 100 pharmaceutical companies in China, listed on the A-share market. The company focuses on various therapeutic areas including ophthalmology, cardiovascular, respiratory, and digestive diseases, with a core business in pharmaceutical manufacturing. [3] Key Points Discussed 1. Collaboration with Qilu Pharmaceutical - On January 16, 2026, Zhongsheng Pharmaceutical signed a licensing agreement with Qilu Pharmaceutical for the production and commercialization of RAY1225 injection in China. The company retains all intellectual property rights and will be the marketing authorization holder (MAH) after regulatory approval. The initial payment is RMB 200 million, with potential milestone payments up to RMB 800 million based on development and sales progress. [6][7] 2. Focus on Overseas Markets - The collaboration with Qilu Pharmaceutical will not hinder Zhongsheng's exploration of overseas markets, as the company retains all rights for RAY1225 injection outside of China. [8] 3. Innovation Drug Pipeline - The company is focused on self-initiated research and integrating internal and external resources to meet unmet clinical needs. The innovation drug pipeline primarily targets metabolic diseases and respiratory diseases, with two innovative drugs already approved and several in clinical trials. [10] a. Metabolic Disease Pipeline - ZSP1601 tablets, targeting metabolic dysfunction-related fatty liver disease (MASH), are a major new drug project and have shown promising results in clinical trials. RAY1225 injection, a dual agonist for GLP-1 and GIP receptors, is in advanced clinical trials for treating type 2 diabetes and obesity. [11][12][20] b. Respiratory Disease Pipeline - The company has developed innovative drugs like Lai Ru Te Wei tablets for COVID-19 and Angra De Wei tablets for influenza, both of which have shown significant efficacy and safety in clinical trials. [14][15] 4. New Indications for RAY1225 Injection - RAY1225 injection has received approval for a new indication to treat MASH, addressing a significant unmet clinical need in China. The drug has shown potential in improving liver inflammation and fibrosis in preclinical studies. [21][23][24] 5. Strategic Focus - Zhongsheng Pharmaceutical emphasizes innovation in drug development, particularly in metabolic and respiratory diseases, and aims to accelerate clinical trials while adhering to high-quality standards. The company is committed to overcoming technical barriers and enhancing project implementation. [22] Additional Important Information - The company has established a robust product line, including traditional Chinese medicine and chemical generic drugs, with a focus on chronic disease management and digital marketing strategies. [3] - The collaboration with Qilu Pharmaceutical is seen as a strategic move to enhance commercialization efficiency and reduce operational costs, thereby optimizing cash flow and supporting ongoing research and development. [7] This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting the company's commitment to innovation and market expansion.

证券代码：002317 公告编号：2026-005 广东众生药业股份有限公司 关于控股子公司收到一类创新药 RAY1225 注射液 新增适应症的药物临床试验批准通知书的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 近日，广东众生药业股份有限公司（以下简称"公司"）控股子公司广东众 生睿创生物科技有限公司（以下简称"众生睿创"）自主研发的一类创新多肽药 物 RAY1225 注射液新增适应症治疗"肥胖合并阻塞性睡眠呼吸暂停"的 III 期药 物临床试验获得国家药品监督管理局批准，并收到《药物临床试验批准通知书》， 同意 RAY1225 注射液新增适应症进行临床试验。具体情况如下： 一、《药物临床试验批准通知书》基本情况 根据《中华人民共和国药品管理法》及有关规定，经审查，RAY1225 注射 液符合药品注册的有关要求，同意开展肥胖合并阻塞性睡眠呼吸暂停的临床试验。 二、药品研发及相关情况 RAY1225注射液是众生睿创研发的、具有全球自主知识产权的创新结构多肽 药物，具有GLP-1受体和GIP受体双重激动活性，得益于优异的药代动力学特性， 具备每两周注射一 ...