Group 1 - The core point of the article is that Beida Pharmaceutical is conducting exploratory research on a new drug, MRX-2843, which targets a novel mechanism and is currently in translational medicine studies to identify precise patient populations for its indications [2] Group 2 - The company has indicated that any significant progress regarding MRX-2843 will be disclosed to the public in a timely manner [2]

Core Insights - The company has achieved significant milestones in the field of innovative drug development over the past two decades, starting with the launch of the first small molecule targeted drug for lung cancer in China, named Kaimena, and currently has eight products on the market [2] Group 1: Company Development - The company is committed to high-quality development in response to the rapid growth of the industry, actively seeking change and improvement [2] - A five-year development plan has been proposed, focusing on key areas to drive future growth [2] Group 2: Strategic Focus - The company aims to leverage a "four-horsepower" strategy, which includes enhancing core innovation capabilities, talent resources, institutional support, and execution power [2] - The goal is to achieve breakthrough advancements in these areas to promote leapfrog development and maximize company value [2]

证券日报网讯 12月2日，贝达药业在互动平台回答投资者提问时表示，公司始终高度重视和投资者的交 流，通过互动易、投资者热线、微信公众号、业绩说明会、券商策略会等多渠道保持与广大投资者的顺 畅沟通，传递公司价值。对于公司重要产品项目进展、临床数据等不属于公司经营商业秘密的信息，公 司也已通过自愿性信息披露或者投资者关系公众号发布的方式与市场进行互动。 （编辑 王雪儿） ...

Core Viewpoint - The company has proactively planned its production capacity to meet the demands of its listed drugs and has also reserved production capacity for some in-development new drugs [1] Group 1 - The company is gradually transferring the production needs of its listed drugs to the Shengzhou Innovative Drug Industrialization Base [1] - The company will release production capacity based on operational needs [1]

证券日报网讯12月2日，贝达药业（300558）在互动平台回答投资者提问时表示，人才合理流动属于企 业正常现象，公司的快速发展对高端人才不断提出新的要求，也吸引了优秀的行业专家陆续加入贝达。 公司重视和尊重人才，创造了充分发挥人才能力的工作环境，通过有竞争力的薪酬、股权激励计划、文 化认同等多种方式凝聚人才，激发他们在工作岗位上的创新能力，推动公司持续成长。 ...

证券日报网讯12月2日，贝达药业（300558）在互动平台回答投资者提问时表示，截至2025年10月31 日，公司A股普通股股东总数为34761户。 ...

Investment Rating - The investment rating for the industry is "Positive" and the rating has been maintained [2] Core Views - The pharmaceutical and biotechnology industry index experienced a decline of 4.40%, ranking 23rd among 31 primary industries, underperforming the CSI 300 index which fell by 2.19% [6][18] - The valuation of the pharmaceutical and biotechnology industry as of November 28, 2025, is a PE (TTM overall method, excluding negative values) of 29.46x, down from 30.89x in the previous period, indicating a downward trend and below the average [22] - The report highlights potential beneficiaries from the upcoming ASH data, particularly in blood diseases and companies with solid grassroots channels, as well as those with differentiated advantages in oncology, autoimmune, and rare disease products [10] Summary by Sections Industry Review - The pharmaceutical and biotechnology industry index fell by 4.40%, with chemical preparations and medical devices showing declines of 2.86% and 2.95% respectively, while offline pharmacies and vaccines saw larger declines of 8.22% and 6.42% [6][18] - The PE ratio for the pharmaceutical and biotechnology industry is 29.46x, with the highest valuations in the vaccine (47.56x), hospital (41.17x), and medical device (36.77x) sectors, while pharmaceutical circulation has the lowest at 14.58x [22] Important Industry News - The National Administration of Traditional Chinese Medicine and the National Healthcare Security Administration released a directory for traditional Chinese medicine diseases suitable for disease-based payment [26][27] - AstraZeneca's drug "Durvalumab" received FDA approval for a new indication in perioperative treatment of gastric cancer [32] - Otsuka Pharmaceutical's new drug for IgA nephropathy, "Sibeprenlimab," has been approved by the FDA [38] - Bayer's first-in-class lung cancer drug "Sevabertinib" has been approved by the FDA for specific patient populations [40] Investment Recommendations - Focus on innovative pharmaceutical companies that may benefit from the medical insurance or commercial insurance directories, blood cancer targets with imminent ASH data releases, and biotech and CXO leaders with solid technology platforms and international collaboration expectations [10]

Core Insights - The company has established a robust cycle of "R&D-commercialization-reinvestment," leading to steady revenue growth and cash flow reserves that meet operational needs and support the orderly advancement of its R&D pipeline [1] - The company employs a dynamic project evaluation mechanism to select projects with higher clinical value and market potential, optimizing resource allocation and pipeline layout [1] - In the field of lung cancer treatment, the company is actively advancing the CFT8919 and MCLA-129 projects [1] Group 1 - The company has achieved stable revenue increments and cash flow reserves, ensuring operational needs are met [1] - The company focuses on R&D directions with greater clinical value and market potential through a mature project evaluation mechanism [1] - The CFT8919 and MCLA-129 projects are currently being prioritized in lung cancer treatment [1] Group 2 - An investor raised concerns about the company's BPI-361175, a fourth-generation EGFR-TKI, questioning why the company has not accelerated its development despite being ahead of competitors [3] - The investor speculated whether the company is facing funding constraints that could hinder further research on the fourth-generation drug [3] - There is a concern that the company might fall behind in fourth-generation drug development, similar to its experience with third-generation drugs [3]

（文章来源：每日经济新闻） 贝达药业（300558.SZ）12月2日在投资者互动平台表示，MRX-2843属于一个具有探索性靶点的新药， 目前该项目仍在进行转化医学探索研究，从而发现精准适应症的人群。如有重大进展公司会及时公开披 露。 每经AI快讯，有投资者在投资者互动平台提问：MRX-2843项目引进已经5年以上，临床看不到任何进 度，是暂停还是失败了？ ...

格隆汇12月2日丨贝达药业(300558.SZ)在投资者互动平台表示，MRX-2843属于一个具有探索性靶点的 新药，目前该项目仍在进行转化医学探索研究，从而发现精准适应症的人群。如有重大进展公司会及时 公开披露。 ...