Core Viewpoint - Jincheng Pharmaceutical's subsidiary, Beijing Jincheng Tail Pharmaceutical Co., Ltd., has received approval from the National Medical Products Administration for a supplemental application regarding the product Progestin Cream, which is the only marketed local estrogen for specific gynecological conditions [1] Group 1 - The product Progestin Cream is indicated for atrophic changes in the vulva, vestibule, and vaginal ring, as well as associated symptoms such as discomfort, vulvar itching, burning, and dryness [1]

Core Viewpoint - The approval of the supplementary application for Progesterone cream by Beijing Jincheng Taier Pharmaceutical Co., Ltd. enhances product competitiveness but will not significantly impact current performance [1] Group 1: Regulatory Approval - Beijing Jincheng Taier Pharmaceutical Co., Ltd. received a notification from the National Medical Products Administration regarding the approval of a supplementary application for Progesterone cream [1] - The approval involves changes in the types and quantities of excipients, processes, and quality standards [1] Group 2: Market Data - According to IMS data, global sales of Progesterone formulations are projected to be $78.0961 million in 2022, $94.3352 million in 2023, and $104 million in 2024 [1] - The approval is expected to improve the product's competitiveness in the market [1]

Core Viewpoint - Jincheng Pharmaceutical's subsidiary received approval for changes to the formulation and quality standards of Progestin Cream, which may enhance product competitiveness but will not significantly impact current financial performance [1] Company Summary - Jincheng Pharmaceutical's wholly-owned subsidiary, Beijing Jincheng Tail Pharmaceutical Co., Ltd., has received a notification from the National Medical Products Administration regarding the approval of a supplemental application for Progestin Cream [1] - The approved changes include modifications to the types and amounts of excipients, process changes, and quality standard adjustments [1] Industry Summary - Progestin is a strictly local acting estrogen used for the treatment of menopausal genitourinary syndrome [1] - The approval of the supplemental application is expected to improve the product's competitiveness in the market [1]

普罗雌烯是当前唯一上市的严格局部作用的雌激素，用于外阴、前庭部及阴 道环部的萎缩性病变，以及由此引发的以下自觉症状：不适、外阴瘙痒、灼热、 干燥。这类疾病均因女性在绝经过渡期及绝经后期妇女因雌激素和其他性激素水 平降低引起的，统称绝经生殖泌尿综合征（以下简称"GSM"）。国内外相关指 南将局部使用雌激素作为治疗 GSM 的首选方案，普罗雌烯乳膏为该方案品种之 产品 名称 剂型 注册 分类 规格 包装 规格 药品批准 文号 上市许 可持有 人 审批结论 普罗雌 烯乳膏 乳膏剂 化学药 品 10g:0.1g 1 支/盒 国药准字 H2005960 6 北京金 城泰尔 制药有 限公司 根据《中华人民共和国药品管理 法》及有关规定，经审查，本品 此次申请事项符合药品注册的 有关要求，批准本品如下补充申 请事项： 1.同意变更辅料种类 及用量 2.同意工艺变更 3.同 意质量标准变更 变更后的质量 标准和生产工艺照所附执行，说 明书中性状做相应修订，有效期 为 18 个月，其余按原批准内容 执行。相关变更应自获批之日起 6 个月内实施。 一、证书基本信息 一，作为严格局部作用的雌激素，该产品不刺激子宫内膜增生，没有增加 ...

Summary of Key Points Core Viewpoint - Jin Cheng Pharmaceutical experienced a 2.31% increase in stock price on October 15, with a trading volume of 169 million yuan, indicating a mixed sentiment in the market regarding the company's performance and financing activities [1]. Financing and Trading Activity - On October 15, Jin Cheng Pharmaceutical had a financing buy amount of 24.40 million yuan and a financing repayment of 25.56 million yuan, resulting in a net financing buy of -1.16 million yuan [1]. - The total financing and margin trading balance for Jin Cheng Pharmaceutical reached 463 million yuan, accounting for 6.82% of its circulating market value, which is above the 80th percentile of the past year, indicating a high level of financing activity [1]. - The company repaid 5,100 shares in margin trading on the same day, with a margin balance of 529,000 yuan, which is below the 40th percentile of the past year, suggesting a lower level of short selling activity [1]. Company Financial Performance - For the first half of 2025, Jin Cheng Pharmaceutical reported a revenue of 1.36 billion yuan, a year-on-year decrease of 22.65%, and a net profit attributable to shareholders of 43.38 million yuan, down 66.78% year-on-year [2]. - Since its A-share listing, the company has distributed a total of 933 million yuan in dividends, with 323 million yuan distributed over the past three years [3]. Shareholder Information - As of October 10, the number of shareholders for Jin Cheng Pharmaceutical was 25,700, a decrease of 8.92% from the previous period, while the average circulating shares per person increased by 9.79% to 14,452 shares [2]. - As of June 30, 2025, Hong Kong Central Clearing Limited was the third-largest circulating shareholder, holding 5.47 million shares, a decrease of 525,100 shares from the previous period [3].

Core Viewpoint - The article highlights the recent ESG (Environmental, Social, and Governance) risks associated with A-share listed companies, particularly focusing on incidents involving Jin Cheng Pharmaceutical and Fu Pai Ejiao, which reflect significant governance issues and compliance shortcomings in the pharmaceutical industry [1][9]. Group 1: ESG Risk Monitoring - A total of 837 A-share listed companies were reported by central and provincial media for sensitive information from October 6 to October 12, with a decrease of 1,082 companies compared to the previous week and an increase of 505 companies [1]. - The ESG sensitive information primarily pertains to governance and compliance, equity and asset issues, and risk management [1]. Group 2: Jin Cheng Pharmaceutical - Jin Cheng Pharmaceutical's actual controller, Zhao Yeqing, is facing a proposed fine of 1.5 million yuan for market manipulation, with total fines for involved parties amounting to 3 million yuan [2]. - The investigation into Jin Cheng Pharmaceutical has lasted over a year, with Zhao Yeqing receiving a market ban for four years, while other involved parties face shorter bans [2][4]. - Financially, Jin Cheng Pharmaceutical reported a revenue of 1.36 billion yuan for the first half of 2025, a decrease of 22.65% year-on-year, and a net profit of 43.38 million yuan, down 66.78% year-on-year [8]. Group 3: Fu Pai Ejiao - Fu Pai Ejiao and its subsidiary have been listed as defendants in multiple court cases, with execution amounts of 25,020 yuan and 67,300 yuan respectively [10][11]. - The company has faced challenges in its attempts to go public, having previously terminated listing preparations and withdrawn from advisory processes [12]. - Fu Pai Ejiao is also seeking international expansion, having established a joint venture in Macau, although the impact on its operational status remains uncertain [13].

Group 1 - The genetically modified (GM) concept sector declined by 1.07%, ranking among the top declines in the concept sectors as of the market close on October 15 [1][2] - Within the GM sector, companies such as Shennong Seed Industry, Wanxiang DeNong, and Dunhuang Seed Industry experienced significant declines, while four stocks saw price increases, with Jincheng Medicine, Top Cloud Agriculture, and Huabang Health leading the gains at 2.31%, 1.90%, and 0.88% respectively [1][2] - The GM sector faced a net outflow of 112 million yuan from major funds today, with ten stocks experiencing net outflows, and five stocks seeing outflows exceeding 10 million yuan [2] Group 2 - The top net outflow stock in the GM sector was Batian Shares, with a net outflow of 47.51 million yuan, followed by Shennong Seed Industry, Xin'an Shares, and Nongfa Seed Industry with net outflows of 33.24 million yuan, 16.07 million yuan, and 15.62 million yuan respectively [2] - Conversely, the stocks with the highest net inflows included Quanyin High-Tech, Jincheng Medicine, and Dunhuang Seed Industry, with net inflows of 21.44 million yuan, 14.19 million yuan, and 2.79 million yuan respectively [2]

Market Overview - On October 14, the AI medical sector experienced a decline of 2.04%, with Jincheng Pharmaceutical leading the drop [1] - The Shanghai Composite Index closed at 3865.23, down 0.62%, while the Shenzhen Component Index closed at 12895.11, down 2.54% [1] Stock Performance - Notable stock performances in the AI medical sector included: - Chaoyan Co., Ltd. (301602) closed at 25.14, up 2.24% with a trading volume of 36,800 shares and a transaction value of 92.23 million yuan [1] - Jincheng Pharmaceutical (300233) closed at 17.28, down 6.80% with a trading volume of 197,900 shares and a transaction value of 353 million yuan [2] - The overall trading volume and transaction values for various stocks indicate mixed performance, with some stocks showing resilience while others faced significant declines [1][2] Capital Flow - The AI medical sector saw a net outflow of 290 million yuan from institutional investors, while retail investors contributed a net inflow of 155 million yuan [2] - Specific stocks such as Seer Medical (603716) and Chuangye Huikang (300451) had varying levels of net inflow and outflow from different investor categories, indicating diverse investor sentiment [3]

Market Overview - The chemical pharmaceutical sector experienced a decline of 2.62% on October 14, with Yipinhong leading the drop [1] - The Shanghai Composite Index closed at 3865.23, down 0.62%, while the Shenzhen Component Index closed at 12895.11, down 2.54% [1] Stock Performance - Notable gainers included: - Asia-Pacific Pharmaceutical (002370) with a closing price of 6.24, up 10.05% [1] - Duorui Pharmaceutical (301075) at 42.06, up 4.94% [1] - Deyuan Pharmaceutical (920735) at 37.78, up 3.00% [1] - Major decliners included: - Yipinhong (300723) at 52.98, down 14.30% [2] - Betta Pharmaceuticals (300558) at 58.34, down 10.63% [2] - Zerui Pharmaceutical (688266) at 93.60, down 7.60% [2] Capital Flow - The chemical pharmaceutical sector saw a net outflow of 2.271 billion yuan from institutional investors, while retail investors contributed a net inflow of 1.481 billion yuan [2][3] - The top stocks by net inflow from institutional investors included: - Asia-Pacific Pharmaceutical with a net inflow of 53.03 million yuan [3] - Xiangrikui (300111) with a net inflow of 45.54 million yuan [3] - Conversely, Yipinhong experienced a significant net outflow of 979 million yuan from institutional investors [2][3]

Core Viewpoint - Jincheng Pharmaceutical (300233.SZ) will disclose its third-quarter report on October 27, 2025 [1] Company Information - The company has announced the date for its upcoming financial report, indicating a commitment to transparency and communication with investors [1]