Core Viewpoint - The controversy surrounding Kelun Pharmaceutical's product, Ergothioneine capsules, has intensified following public criticism from renowned biologist Rao Yi, who labeled the product as a "fake drug" due to its lack of regulatory approval [1][2]. Group 1: Product Controversy - Rao Yi's article questioned the legitimacy of Ergothioneine capsules, suggesting that if the product had genuine health benefits, it would have received regulatory approval [1]. - Kelun Pharmaceutical responded by asserting that Ergothioneine is classified as a dietary supplement and not a drug, thus challenging the notion of it being a "fake drug" [1][2]. Group 2: Regulatory Status - Ergothioneine has been recognized as a novel food supplement in developed countries, with the FDA granting it GRAS (Generally Recognized as Safe) status and the European Food Safety Authority approving it as a new food supplement [2]. - Kelun Pharmaceutical's application for Ergothioneine as a new food ingredient was accepted by the National Health Commission in 2024, although it is still under review [2]. Group 3: Company Stance - In response to accusations of misleading marketing, Kelun Pharmaceutical welcomed scrutiny from academia, regulatory bodies, and consumers, urging an objective evaluation of emerging technologies [2].

6月5日，知名生物学家、前首都医科大学校长、现任北京大学校务委员会副主任、理学部主任饶毅在其 公众号上发布《假药靠肌肉男真人"赤膊上阵"，真药伟哥仅以小小"老鼠作证"》一文，直指科伦药业旗 下的麦角硫因胶囊为"假药"，引发了舆论的广泛关注。 饶毅在文中指出，"如果药物确实能够对动物或人有延年益寿的作用，早就会有人提供足够证据获得药 监部门批准。因为缺乏证据，得不到批准，销售商才走保健品的路子。"在他看来，凡是没有足够令人 信服的证据，不能获得批准成为真药，是假药的，只好以保健品方式蒙人、骗人，麦角硫因就是"假 药"。 对此，科伦药业于6月6日上午通过"科伦永年大健康"公众号发布，声明强调三点立场：公司从未将麦角 硫因作为药物宣传，其定位是"功能性健康产品"；产品基于科学理论和品牌影响力，在海外有明确科研 论文和临床论证支持；指责饶毅文章存在"偷换概念"问题。 此前，科伦药业董事长刘革新大秀肌肉，为公司新产品麦角硫因胶囊代言，麦角硫因也因此进入大众视 野。 公开资料显示，麦角硫因是一种天然抗氧化剂，在人体内可以对细胞起到保护作用，它具有清除自由 基、解毒、维持DNA的生物合成、细胞的正常生长及细胞免疫等多种生理 ...

Core Viewpoint - The controversy surrounding the product Ergothioneine from Kolun Pharmaceutical is primarily focused on its classification as a dietary supplement rather than a drug, which has led to accusations of it being a "fake drug" by a prominent biologist [1][2]. Group 1: Product Classification and Controversy - Kolun Pharmaceutical asserts that Ergothioneine is recognized internationally as a dietary supplement and not a drug, countering claims of it being a "fake drug" [1]. - The core of the dispute revolves around the product's qualifications, with Kolun responding to criticisms regarding the lack of drug approval by citing studies published in the high-impact journal "Cell Metabolism" that support its health benefits [1]. Group 2: Safety and Regulatory Status - Ergothioneine has been classified as a new type of food supplement or functional health food ingredient in developed countries, receiving GRAS certification from the FDA and approval from the European Food Safety Authority [2]. - Kolun Pharmaceutical has submitted an application for Ergothioneine as a new food ingredient to the National Health Commission, which is currently under review [2]. - The company welcomes scrutiny from the academic community, regulatory bodies, and consumers regarding its research and products, advocating for an objective perspective on emerging technologies [2].

Core Viewpoint - The core controversy revolves around whether the product Ergotioneine capsules from Kelun Pharmaceutical is a dietary supplement or a "fake drug" as claimed by Peking University’s Rao Yi [1][4]. Group 1: Company Position - Kelun Pharmaceutical asserts that Ergotioneine is recognized internationally as a dietary supplement and not a drug, thus challenging the notion of it being labeled as a "fake drug" [1][4]. - The company emphasizes that the value and safety of Ergotioneine have been scientifically validated through various studies, including those published in top journals [2][3]. - Kelun Pharmaceutical calls for an objective industry perspective on emerging technologies to shift the nutrition and health industry from a marketing-driven approach to a science-driven one [1][6]. Group 2: Scientific Evidence - The company cites two studies published in "Cell Metabolism" demonstrating that Ergotioneine can significantly extend the lifespan of model organisms and improve their physical performance [2]. - Additional clinical research indicates that Ergotioneine may help reduce sleep difficulties, improve cognitive functions in patients with mild cognitive impairment, decrease skin wrinkles, and lower the risk of coronary artery disease [3]. - The safety of Ergotioneine has been established in toxicity tests and randomized controlled trials, with its acceptance as a new food supplement in developed countries [3]. Group 3: Market Performance - Despite the controversy, Kelun Pharmaceutical's Ergotioneine products continue to be sold, with prices ranging from 1,199 yuan to 4,476 yuan, and sales exceeding 18.83 million yuan as of June 5 [5].

Group 1: Tesla and Elon Musk - Trump expressed disappointment in Musk, indicating a potential rift in their relationship, which could impact Tesla's market perception [2][20] - Following Trump's comments, Tesla's stock plummeted, resulting in a market value loss of approximately $100 billion, with a 14.26% drop in share price [20][21] Group 2: Pharmaceutical Industry - Controversy arose around the drug Ergotamine, with a prominent figure claiming it is a "fake drug," leading to public scrutiny of its efficacy and the marketing practices of Kolun Pharmaceutical [7] - Kolun Pharmaceutical defended its product, stating positive feedback from users, despite the ongoing debate regarding regulatory compliance [7] Group 3: Consumer Goods - The "1.5 bucket" product from Jinmailang faced criticism for misleading marketing, as the actual weight did not meet the advertised quantity, raising concerns about consumer trust [8][10] - The controversy follows a similar issue with another brand, indicating a trend of scrutiny in the instant noodle market regarding product labeling and consumer perception [8][10] Group 4: Technology Partnerships - Xiaopeng Motors and Huawei announced a collaboration on AR-HUD technology, which is expected to enhance the automotive experience and benefit related supply chain companies [23] - This partnership marks a significant step in the integration of advanced technology in vehicles, potentially influencing market dynamics in the automotive sector [23] Group 5: Apple and Tata Group - Apple has transferred its iPhone and MacBook repair services in India to Tata Group, indicating a strategic move to strengthen its operational capabilities in the region [22] - This transition reflects Apple's ongoing commitment to expanding its presence in the Indian market, despite previous pressures from political figures [22] Group 6: Aviation Industry - Airbus is reportedly in discussions with Chinese airlines for a potential order of up to 500 aircraft, which could significantly impact the aviation market and Airbus's sales figures [26] - The negotiations highlight China's growing demand for new aircraft as it continues to modernize its aviation fleet [26] Group 7: Defense Industry - Indonesia is evaluating the procurement of Chinese-made J-10 fighter jets, focusing on performance and cost-effectiveness, which could reshape regional defense dynamics [26] - This consideration reflects Indonesia's ongoing military modernization efforts and its search for high-value defense equipment [26]

Core Viewpoint - The controversy surrounding Kelun Pharmaceutical and its chairman Liu Gexin has intensified due to allegations regarding the efficacy and regulatory status of its anti-aging product, Ergothioneine, which has not received official certification as a health product in China [1][2][4]. Financial Performance - In Q1 2025, Kelun Pharmaceutical reported a significant revenue decline of 29% year-on-year, totaling 4.39 billion yuan, while net profit plummeted by 43% to 584 million yuan, marking the worst quarterly performance in five years [5][6]. - The company's traditional infusion business revenue fell below 9 billion yuan, a record low, contributing to the overall financial downturn [5][6]. - The cash flow from operating activities also dropped over 60%, reaching 450 million yuan, indicating severe operational challenges [5]. Product Controversy - Ergothioneine, marketed as an anti-aging supplement, lacks regulatory approval and has not been substantiated by scientific evidence for its claimed benefits, raising compliance and ethical concerns [2][3][4]. - The product is being sold through cross-border e-commerce channels, exploiting regulatory differences between domestic and international markets [3][4]. Business Strategy and Challenges - The chairman has positioned the anti-aging sector as the "fourth entrepreneurial venture" for the company, following its traditional infusion and antibiotic businesses, aiming to create an ecosystem around anti-aging products [6][7]. - The subsidiary, Chuaning Biological, which was expected to drive growth through synthetic biology, has seen its revenue contribution remain minimal, indicating slow progress in its transformation strategy [7]. Market Environment - The pharmaceutical industry is facing significant challenges due to stringent government policies, such as the "limit on antibiotics" directive, which has adversely affected the infusion market and overall demand [6][7]. - Despite the decline in traditional business, non-infusion segments (generic and innovative drugs) showed some growth, but this was insufficient to offset the losses from the core infusion business [6].

Core Viewpoint - The article discusses the controversy surrounding Kelun Pharmaceutical's new product, Ergothioneine capsules, which has been labeled as a "fake drug" by a prominent biologist, leading to a significant drop in the stock prices of both Kelun Pharmaceutical and its subsidiary, Chuaning Biological. Company Summary - Kelun Pharmaceutical's chairman, Liu Gexin, promoted Ergothioneine capsules, resulting in a stock price increase of 16.75% for Kelun and 12.22% for Chuaning Biological over the past month [1][3] - Following the criticism from biologist Rao Yi, both companies experienced a stock price decline of 4.96% and 1.98%, respectively, closing at 37.75 CNY per share and 12.87 CNY per share, with market capitalizations of 603.27 billion CNY and 287.01 billion CNY [5] - Ergothioneine is a natural antioxidant derived from microorganisms, particularly edible mushrooms, and has been associated with various health benefits [5][6] Industry Summary - The product Ergothioneine has not yet been approved as a health supplement in China, and there are no registered products containing Ergothioneine found in the National Medical Products Administration's database [6][9] - The product is currently being sold in China through cross-border e-commerce after being exported to Japan for production, as it has not received domestic approval [6] - Ergothioneine's potential for oral consumption remains uncertain, as it is primarily used as a bioactive ingredient in cosmetic formulations [6]

Core Viewpoint - The controversy surrounding the drug ergothioneine, labeled as a "fake drug" by a prominent biologist, has led to a response from Kelun Pharmaceutical, asserting the scientific validity of the product despite the criticism [1] Company Response - Kelun Pharmaceutical's staff stated that the company has never claimed ergothioneine to be a drug and believes the articles criticizing it have misrepresented the facts [1] - The company emphasizes that there is clear scientific research and clinical evidence supporting the efficacy of ergothioneine overseas [1] Market Reaction - Following the negative publicity, the company's stock experienced a significant decline, which the staff described as a normal market fluctuation and not directly linked to the controversy [1]

Group 1 - The pharmaceutical sector has recently experienced a significant pullback, with the innovative drug concept seeing a net outflow of nearly 2.5 billion yuan in A-shares [1] - The Tianhong Innovative Drug ETF (517380) reached a new high for the year before experiencing a substantial decline, dropping 2.75% with a trading volume of 22 million yuan, and most constituent stocks fell nearly 5% [1] - The Tianhong Innovative Drug ETF is the only product tracking the Hang Seng-Hu-Shen-Hong Kong Innovative Drug Selected 50 Index, which includes leading innovative drug companies from the three markets [1] Group 2 - Dongwu Securities predicts that 2025 will mark the explosive growth of China's innovative drug industry, driven by three core factors: significant BD transactions, profitability turning points for leading companies, and an improving policy environment [2] - Guosheng Securities acknowledges short-term trading pullback risks but emphasizes the solid underlying logic and clear trends in the innovative drug sector, maintaining a positive outlook for the innovative drug bull market [2] - The market size of China's innovative drugs is expected to exceed 2 trillion yuan by 2030, with a compound annual growth rate of 24.1% [2]

Group 1 - The company announced a share placement agreement involving its subsidiary, Sichuan Kelun Biotech Co., Ltd., to issue 5,918,000 H shares at a price of HKD 331.8 per share [1][2] - The net proceeds from the placement are expected to be HKD 1.943 billion, which will be used for product research and development, clinical trials, registration, manufacturing, commercialization, and enhancing internal R&D capabilities [1][2] - The completion of the placement is subject to certain conditions outlined in the placement agreement, indicating uncertainty regarding the timing and completion of the transaction [1] Group 2 - If the placement is successfully completed, the total shares of Kelun Biotech will change, with the company remaining the controlling shareholder with approximately 53.41% of the shares [2] - The placement aims to meet the funding needs for the continuous development and business growth of Kelun Biotech, thereby broadening its financing channels and positively impacting its operations and long-term development [2]