Group 1: Company Overview - The company is called Qianhong Biopharmaceutical, with the stock code 002550 [1] - The investor relations activity was conducted via a telephone conference on August 25, 2014 [2][3] Group 2: Market Analysis - The price of heparin sodium raw materials has shown a stable trend in the first half of the year, with a slight decrease compared to the same period last year [5] - The heparin sodium price is somewhat correlated with pork prices, but there is no absolute linear relationship [5] Group 3: Product Performance - The domestic market for ordinary heparin preparations is highly competitive, with some market share lost to lower-priced products [5] - The company aims to increase its market share in ordinary heparin in the second half of the year [5] Group 4: New Product Development - The low molecular weight heparin market is primarily dominated by foreign brands, with domestic products expected to complete inspections and obtain new drug certificates by the end of the year [6] - The sales of the compound digestive enzyme are targeted to achieve a 100% growth this year, with a 70% increase in the first half due to capacity constraints [8] - The production capacity for the compound digestive enzyme has expanded to five times the original capacity [8] Group 5: Strategic Initiatives - The inclusion of the company's trypsin product in diabetes treatment guidelines is expected to enhance its market recognition and growth potential [7] - The company plans to gradually expand its marketing efforts into OTC channels as production capacity increases [8]

Group 1: Company Overview and Product Development - The company focuses on the biopharmaceutical industry, with key products including enzyme preparations and polysaccharide drugs, targeting both domestic and international markets [3][4]. - The enzyme preparation "Yikai" series and "Yimei" compound digestive enzymes have significant market potential, with the goal of achieving over 100 million in sales for the injectable form of "Yikai" [4]. - The polysaccharide drug, primarily heparin sodium, is mainly exported, while the standard heparin sodium injection is sold domestically and partially exported [3][4]. Group 2: Research and Development Strategy - The company has established three innovation platforms to enhance R&D capabilities, including a research institute in collaboration with international teams [5][6]. - The first platform focuses on innovative drugs and biomaterials, while the second is dedicated to the industrialization of innovative drugs and generic drug development [5]. - The third platform aims to innovate production processes and upgrade product quality, ensuring competitiveness in the market [5]. Group 3: Market Position and Competitive Advantage - The company holds a leading market share in the domestic market for "Yikai" enzyme preparations, with a strong brand presence and established quality standards [4][9]. - The company is recognized for being the first to include the treatment of diabetic complications in the drug instructions for "Yikai," enhancing its market credibility [9]. - The company plans to integrate pharmaceutical and health care services, leveraging synergies between the two sectors to maximize marginal benefits [9][10]. Group 4: Future Growth and Expansion Plans - The company aims to participate in public medical institution reforms and develop a multi-tiered medical network, enhancing service delivery to patients [8]. - Future growth strategies include mergers and acquisitions, focusing on companies with established operations and complementary product lines [10]. - The company anticipates achieving multiple products with over 100 million in sales within the next 2-3 years [4][5].

证券代码：002550 证券简称：千红制药 常州千红生化制药股份有限公司 投资者关系活动记录表 编号： | --- | --- | |-----------------------------|-------------------------------------| | | | | 投资者关系活动 | ■ 特定对象调研 □ 分析师会议 | | 类别 | □ 媒体采访 □ 业绩说明会 | | | □ 新闻发布会 □ 路演活动 | | | □ 现场参观 | | | □ 其他（ U 请文字说明其他活动内容） | | 参与单位名称及 人员姓名 | 银河基金 钱睿南 | | 时间 | 2015 年 7 月 13 日 | | 地点 | 公司二楼会议室 | | 上市公司接待人 员姓名 | 蒋文群、郑锋林 | | 投资者关系活动 主要内容介绍 | 公司基本情况的调研。 | | 附 件 清 单 （ 如 有） | 调研记录 | 日期 2015 年 7 月 13 日 千红制药机构调研记录 时间： 2015 年 7 月 13 日 地点：公司二楼会议室 参与调研对象：银河基金 钱睿南 公司参与人员：蒋文群、郑锋林 签订保密承诺书情 ...

Company Overview - The company is engaged in the pharmaceutical industry, focusing on both pharmaceutical and healthcare sectors for mergers and acquisitions [3][4] - The company has established a strategic plan to expand its market presence and product offerings [6] Mergers and Acquisitions - The company is actively pursuing mergers and acquisitions based on strategic requirements, focusing on firms with stable operations and market potential [3][4] - The company has engaged with numerous enterprises and will proceed cautiously to ensure alignment with its standards [4] Market Coverage - The company's product "Yikai" covers most provinces in China, with established markets in Beijing, Tianjin, and Jiangsu, and potential markets in Hubei, Sichuan, Chongqing, and Zhejiang [4] - The company has restructured its sales organization to enhance market penetration and support existing channels [4] Product Development - The company is exploring new applications for its products, such as "Yikai" being used for male infertility in Germany and menopausal symptoms in Japan [4] - The company has established six research directions at the "Zhonghong Research Institute," with several products in clinical testing and commercialization [7] Cost Management - The company has successfully reduced costs for "Pancreatic Kininogenase" due to lower procurement costs and improved production processes [5] - Future cost control will be supported by utilizing its wholly-owned subsidiary for raw material production [5] Strategic Planning - The company is involved in the reform of public medical institutions in Changzhou and aims to build a multi-tiered medical network [6] - Plans include expanding into high-end elderly care services and leveraging capital markets for growth [6] Talent Development - The company has implemented a talent strategy focusing on nurturing young leaders and establishing a performance evaluation system [9] - Over the past three years, seven young talents, including two PhDs and two Masters, have been promoted to the board and management [9]

Group 1: Company Strategy and Development - The company has decided to suspend its plan to build hospitals and instead participate in the reform of public hospitals in Changzhou, aligning with national healthcare reform policies [3] - Future development will focus on both the biopharmaceutical industry and the broader health industry, with plans to establish a medical platform through the acquisition of a public hospital [3][4] - The company aims to gradually enter the mobile healthcare sector and build a multi-tiered medical network to serve patients, while also establishing a high-end elderly care service [3] Group 2: Product Development and Market Performance - The price of ordinary heparin preparations has decreased due to domestic bidding impacts, but the company plans to upgrade its production and export capabilities [5] - Despite a decline in revenue from heparin raw materials, the gross profit margin has increased due to a larger decrease in unit costs compared to price drops [6] - Sales of the product "Yikai" have seen an increase in both volume and revenue, although prices have been affected by secondary negotiations with some hospitals [6] - The compound digestive enzyme product has experienced over 70% growth from January to September, primarily sold through hospital channels [7] - The domestic formulation sales team currently consists of over 600 members [8] Group 3: Market and Economic Outlook - The company discussed recent performances in the capital market and macroeconomic conditions with attendees [8]

Group 1: Company Overview and Product Development - The company focuses on enzyme preparations and polysaccharide drugs, with significant market potential for its "Yikai" and "Yimei" brands, particularly in the domestic market [3] - The compound digestive enzyme product has seen nearly 80% growth in hospital channels this year, with expectations to exceed 100 million in sales shortly [4] - Heparin sodium injection has a near billion sales scale in the domestic market, with plans to further increase market share [4] Group 2: Innovation and R&D Strategy - The company has established three innovation platforms, including the "Zhonghong Research Institute," which focuses on original biopharmaceutical research [4] - The Jiangsu Provincial Biopharmaceutical Engineering Technology Research Center is responsible for the industrialization of innovative drugs and the development of generic drugs [5] - The production process technology research team is tasked with innovating existing product processes and upgrading product quality [5] Group 3: Talent Development and Management - The company has implemented reforms in its management structure, promoting capable young individuals to leadership roles while allowing experienced personnel to focus on strategic oversight [5] - Two individuals from the post-80s generation have joined the executive team, responsible for domestic and international market sales [5] Group 4: Growth Strategies - The company is actively pursuing mergers and acquisitions to achieve synergistic effects and enhance competitive advantages [6] - Plans to integrate resources for hospital investment and construction, aiming to create a comprehensive health industry chain [6] Group 5: Market and Sales Strategy - The domestic sales team consists of over 500 personnel, with a structured hierarchy to ensure clear responsibilities and effective performance evaluation [7] - The company categorizes markets into A, B, and C types, focusing on expanding community hospital coverage and considering agency models in less developed areas [8] - The company aims to export low molecular weight heparin products to create high-margin markets and avoid homogenized competition [9]

Group 1: Company Overview and Development Strategy - The company focuses on internal growth through existing product development, particularly in enzyme preparations and polysaccharide drugs, with significant market potential in both domestic and international markets [3][4][5] - The enzyme preparations, especially the "Yikai" brand, target diabetes complications and have a large market potential, with a focus on expanding into community hospitals [4][6] - The polysaccharide drugs, primarily heparin sodium, are aimed at maintaining market share in Europe and the US while also expanding domestic sales, with current sales nearing 100 million [5][6] Group 2: Innovation and R&D Strategy - The company has established three innovation platforms to enhance drug development, including a research institute focused on original biopharmaceuticals and a team dedicated to the industrialization of innovative drugs [6][7] - The research institute is collaborating with international teams and is expected to launch new diagnostic reagents in the near future [6] - The company is also enhancing production processes to ensure product competitiveness, with enzyme drug quality standards being upgraded to national standards [6][7] Group 3: External Growth and Market Strategy - The company is pursuing mergers and acquisitions to achieve synergistic benefits and enhance its market position [8] - A health industry development strategy is in place to integrate resources and invest in hospital construction, aiming to create a comprehensive health industry chain [8] Group 4: Investor Engagement and Future Outlook - The company is optimistic about maintaining growth rates in the coming year, with internal and external sales departments actively preparing sales outlines [9] - There is consideration for stock incentives for key personnel, contingent on achieving sales growth targets [9]

证券代码：002550 证券简称：千红制药 常州千红生化制药股份有限公司 投资者关系活动记录表 编号： | --- | --- | |-----------------------------|----------------------------------| | | | | | | | 投资者关系活动 | ■特定对象调研 □分析师会议 | | 类别 | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他（ 请文字说明其他活动内容） | | 参与单位名称及 人员姓名 | 银河证券 全铭 | | | 时间 2015 年 12 月 3 日 | | | 地点 公司二楼会议室 | | 上市公司接待人 员姓名 | 蒋文群、郑锋林 | | 投资者关系活动 主要内容介绍 | 公司基本情况的调研。 | | 附件清单（如有） 调研记录 | | | | 日期 2015 年 12 月 3 日 | 千红制药机构调研记录 记录人：丁赛君 | --- | --- | --- | --- | |-------|-------|--------------------------- ...

证券代码：002550 证券简称：千红制药 常州千红生化制药股份有限公司 投资者关系活动记录表 编号： | --- | --- | |-----------------------------|----------------------------------| | | | | | | | 投资者关系活动 | ■特定对象调研 □分析师会议 | | 类别 | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他（ 请文字说明其他活动内容） | | 参与单位名称及 | 台湾国泰投信 黄馨慧 | | 人员姓名 | | | | 时间 2015 年 6 月 2 日 | | | 地点 公司二楼会议室 | | | 蒋文群、郑锋林、丁赛君 | | 上市公司接待人 员姓名 | | | 投资者关系活动 主要内容介绍 | 公司基本情况的调研。 | | 附件清单（如有） 调研记录 | | | | 日期 2015 年 6 月 2 日 | 千红制药机构调研记录 时间： 2015 年 6 月 2 日 地点：公司二楼会议室 参与调研对象：台湾国泰投信 黄馨慧 公司参与人员：蒋文群、郑锋 ...

证券代码：002550 证券简称：千红制药 常州千红生化制药股份有限公司 投资者关系活动记录表 编号： | --- | --- | |-----------------------------|----------------------------------| | | | | | | | 投资者关系活动 | ■特定对象调研 □分析师会议 | | 类别 | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他（ 请文字说明其他活动内容） | | 参与单位名称及 | 天风证券 李振永 | | 人员姓名 | | | | 时间 2015 年 6 月 11 日 | | | 地点 公司二楼会议室 | | 上市公司接待人 员姓名 | 郑锋林、丁赛君 | | 投资者关系活动 主要内容介绍 | 公司基本情况的调研。 | | 附件清单（如有） 调研记录 | | | | 日期 2015 年 6 月 11 日 | 千红制药机构调研记录 时间： 2015 年 6 月 11 日 地点：公司二楼会议室 参与调研对象：天风证券 李振永 公司参与人员：郑锋林、丁赛君 签订保密承诺书情况 ...