| 证券代码：300705 | 证券简称：九典制药 | 公告编号：2025-001 | | --- | --- | --- | | 债券代码：123223 | 债券简称：九典转02 | | 湖南九典制药股份有限公司 关于 2024 年第四季度可转换公司债券转股情况的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 经中国证券监督管理委员会证监许可〔2023〕526 号文同意注册，公司于 2023 年 9 月 15 日向不特定对象发行了 360.00 万张可转债，每张面值 100 元，发行总 额为 36,000.00 万元。 经深圳证券交易所（以下简称"深交所"）同意，公司可转债于 2023 年 10 月 13 日起在深交所挂牌交易，债券简称：九典转 02，债券代码：123223。 根据《深圳证券交易所创业板股票上市规则》和《湖南九典制药股份有限公 司创业板向不特定对象发行可转换公司债券募集说明书》的规定，公司可转债的 转股期限自 2024 年 3 月 21 日起至 2029 年 9 月 14 日止。 二、可转债转股及股份变动情况 1、九典转02 ...

Summary of Conference Call Company and Industry Involved - The conference call primarily discusses the pharmaceutical industry, focusing on companies involved in drug development and clinical trials, particularly in the context of regulatory approvals and market competition. Key Points and Arguments 1. **Regulatory Concerns**: The market is primarily worried about two issues: the approval process for new drugs and the actions of competitors in submitting production applications. The recent submission by Wan Gao for production approval has raised concerns among investors [1][2][3]. 2. **Clinical Trial Updates**: Companies are actively engaging with the Center for Drug Evaluation (CDE) regarding their clinical trial submissions. There is a consensus that complex drug types require extensive clinical trials, and many companies are currently conducting these trials [4][6]. 3. **Market Dynamics**: The discussion highlights the competitive landscape, particularly regarding the introduction of generic drugs. Companies are preparing for potential competition from new entrants in the market, which could impact their sales [9][32]. 4. **Pricing Strategies**: The company emphasizes adherence to national pricing guidelines and the importance of maintaining reasonable distribution costs. This is crucial to avoid issues related to pricing regulations [7]. 5. **Future Growth Expectations**: The company anticipates significant growth in the outpatient market, with plans to expand its product offerings and marketing strategies. There is a target to double sales in the outpatient sector by 2025 [10][12]. 6. **Investment in R&D**: The company is committed to enhancing its research and development capabilities, with a focus on developing new products that can be quickly commercialized. This includes expanding its product line and improving production processes [16][17]. 7. **Clinical Trial Costs**: The estimated cost for conducting large-scale clinical trials is around 20 million, with additional investments required for facility upgrades and equipment [11]. 8. **Market Positioning**: The company believes it has a competitive advantage due to its established production capabilities and a comprehensive sales team across various channels, including hospitals and clinics [33][34]. Other Important but Possibly Overlooked Content 1. **Challenges in Consistency**: There are significant challenges in achieving consistency in drug formulations, particularly with complex ingredients. This has been a point of contention in regulatory discussions [14][15][27]. 2. **Regulatory Guidance**: The lack of clear regulatory guidelines from the CDE has created uncertainty in the approval process, leading to fluctuations in stock prices based on market speculation [25][26]. 3. **International Comparison**: The call discusses differences in regulatory approaches between China, the US, and Japan, particularly regarding the approval of topical medications and the requirements for demonstrating bioequivalence [21][22][30]. This summary encapsulates the critical discussions and insights shared during the conference call, providing a comprehensive overview of the company's current standing and future outlook in the pharmaceutical industry.

市场有反馈江苏万高药业有限公司氟比洛芬凝胶贴膏上市申请获受理，但是否获批还没结果，市场（股 价）可能引起了波动。 财联社12月30日电，九典制药12月30日低开低走，盘中放量大跌。 上述人士称，我们认为没有影响，但市场情绪不好判断。 对于股价下跌，有关人士表示，公司经营一切正常。 同时，该人士向记者介绍，若后续上市，氟比洛芬凝胶贴膏并非公司独家产品，北京泰德制药也有相关 产品。 对此，记者以投资人身份联系了九典制药投资者关系部门。 那么，万高药业氟比洛芬凝胶贴膏上市获受理对九典制药有何影响？ (21财经) ...

Group 1: Company Overview - The company is Hunan Jiudian Pharmaceutical Co., Ltd., with stock code 300705 and bond code 123223 [1] Group 2: Investor Relations Activity - The investor relations activity took place on December 25, 2024, from 1:00 PM to 2:30 PM in the company meeting room [2] - Representatives from Huayuan Securities and ICBC Credit Suisse participated, totaling 4 individuals [2] Group 3: Product Sales and Market Strategy - The sales strategy for various products includes both hospital and outpatient channels, with a focus on increasing sales volume for the Loxoprofen Sodium Gel Patch [2] - The Ketoprofen Gel Patch is included in the national medical insurance drug list, primarily focusing on hospital sales, while online sales are minimal [2] - The newly launched anti-inflammatory pain relief patch primarily utilizes OTC channels for sales [3] Group 4: Research and Development - The company is developing a traditional Chinese medicine product, the Jiao Qi She Gel Patch, expected to complete clinical research in 1-2 years for re-application [2] - Current R&D focuses on generic drugs, with an emphasis on high-end formulations and innovative transdermal delivery systems [2] - Future plans include a shift towards innovative drugs, supported by a foundation of generic drugs [2] Group 5: Product Differentiation - Key differences between gel patches and adhesive patches include formulation type, matrix materials, and preparation processes [3] - Gel patches are expected to be more comfortable and skin-friendly, while adhesive patches offer better adhesion for active areas [3] - Anticipated approvals for external preparations include Indomethacin Gel Patch and Flurbiprofen Gel Patch by 2025, and Loxoprofen Sodium Patch and Ketoprofen Patch by 2026 [3] Group 6: Market Expansion and Future Plans - The company plans to expand its outpatient market by collaborating with chain pharmacies, targeting provinces such as Yunnan, Guangdong, Hunan, Sichuan, Hebei, and Gansu for OTC sales of Loxoprofen Sodium Gel Patch [5] - Potential products for future centralized procurement include Dimethicone Emulsion, Indobufen Tablets, Lansoprazole Enteric-Coated Capsules, Dapagliflozin Tablets, Ferrous Succinate Tablets, and Nicorandil Tablets [3] Group 7: Employee Incentives - The company plans to introduce an employee stock incentive plan to enhance governance and align interests between the company and core employees, thereby boosting employee motivation [4]

西部证券股份有限公司 关于湖南九典制药股份有限公司 2024 年度持续督导定期现场检查报告 | 保荐机构名称：西部证券股份有限公司 被保荐公司简称：九典制药 | | | | | | | --- | --- | --- | --- | --- | --- | | 保荐代表人姓名：江伟 联系电话：0731-84727299 | | | | | | | 保荐代表人姓名：徐飞 联系电话：0731-84727299 | | | | | | | 现场检查人员姓名：江伟、阳欢欢 | | | | | | | 现场检查对应期间：2024 年度 | | | | | | | 现场检查时间：2024 年 12 月 10 日-2024 年 月 11 日、2024 年 12 月 16 | 12 | 日 | | | | | 一、现场检查事项 现场检查意见 | | | | | | | （一）公司治理 是 否 | | 不适用 | | | | | 现场检查手段： | | | | | | | （1）对上市公司董事、高级管理人员及有关人员进行访谈； | | | | | | | （3）查阅历次董事会、监事会、股东大会会议材料，包括会议通知、会议决议、 ...

Group 1: Financial Performance Expectations - The company's projected revenue for 2024 is expected to grow by 10-20% year-on-year, with a non-recurring net profit growth of 30-40% [2] - The total sales of the company's patch products in the first three quarters reached 1.169 billion yuan, an increase of 6.46% year-on-year, with sales volume increasing by 60.63% [3] - The third quarter sales total for patch products was 462 million yuan, representing a year-on-year growth of 15.57%, with sales volume increasing by 80.13% [4] Group 2: Product Development and Market Strategy - The company plans to launch new products such as Flurbiprofen gel patches and Indomethacin gel patches in the near future, which are expected to enhance the product line [3] - The company is also focusing on acquiring external formulations to strengthen its product matrix and leverage its sales network [4] - The sales of Loxoprofen sodium gel patches are minimally affected by external pricing policies, maintaining consistent pricing between hospital and retail channels [4] Group 3: Sales and Marketing Insights - The reduction in sales expense ratio is attributed to three main factors: the implementation of centralized procurement in certain regions, a transformation in the marketing model, and an increase in the share of external market sales [4] - The company emphasizes the importance of market conditions, economic environment, and industry policies on achieving its operational goals and product sales plans, highlighting the inherent uncertainties [2]

| 证券代码：300705 | 证券简称：九典制药 | | | --- | --- | --- | | 债券代码：123223 | 债券简称：九典转02 | 公告编号：2024-081 | 湖南九典制药股份有限公司 股东段立新保证向本公司提供的信息内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 6. 表决权让渡的进一步说明（不适用） 关于股东股份变动超过 1%的公告 湖南九典制药股份有限公司（以下简称"公司"）于近日收到股东段立新女 士出具的《股份减持计划实施进展告知函》，其于 2023 年 2 月 21 日至 2024 年 12 月 13 日期间减持公司股份数量超过 1%。现将相关情况公告如下： 1. 基本情况 信息披露义务人 段立新 住所 湖南省长沙市天心区书院路*号保利国际*栋* 权益变动时间 2024 年 12 月 13 日 股票简称 九典制药 股票代码 300705 变动类型 （可多选） 增加□ 减少 一致行动人 有□ 无 是否为第一大股东或实际控制人 是□ 否 2. 本次权益变动情况 股份种类（A 股、B 股等） 减 ...

Group 1: Company Performance - The company's production and operations are progressing normally according to the annual plan, with a positive trend expected for the fourth quarter and the entire year [2] - In the first three quarters, the sales revenue from external patches reached 165 million CNY, a year-on-year increase of 219.28% [3] - In the third quarter, the sales revenue from external patches was 58 million CNY, with a year-on-year growth of 113.49% [3] Group 2: Product Information - The Loxoprofen Sodium Gel Patch has a high drug load of 100 mg per patch, with once-a-day usage, enhancing patient compliance [3] - The Loxoprofen Sodium Gel Patch is indicated for a wider range of conditions, including osteoarthritis and muscle pain, making it a first-line option for musculoskeletal pain [3] - The Ketoprofen Gel Patch has better drug permeability and efficacy for osteoarthritis, acting on both cyclooxygenase and lipoxygenase for comprehensive anti-inflammatory effects [3] Group 3: Market Insights - The market size for external patches in 2023 was approximately 20.364 billion CNY, with a growth rate of around 10% compared to 18.4 billion CNY in 2022 [3] - In 2023, traditional Chinese medicine patches accounted for 66.06% of the market, while chemical drug patches accounted for 33.94%, showing a steady increase in the latter's market share [3] - The compound annual growth rate (CAGR) for chemical drug patches in hospitals over the past three years is approximately 9.67%, compared to 0.56% for traditional Chinese medicine patches [3] Group 4: Future Developments - The company plans to introduce new products, including Indomethacin Gel Patch and Flurbiprofen Gel Patch, expected to be approved by 2025 and 2026 respectively [4] - The company is considering including products such as Sitagliptin Tablets and Dapagliflozin Tablets in centralized procurement [4] - Future stock incentive plans will be developed to align the interests of the company and core employees, enhancing motivation and supporting business growth [4]

Investment Rating - The report gives a "Buy" rating for Jiudian Pharmaceutical with a target price of 26.53 CNY per share [5] Core Views - Jiudian Pharmaceutical's core product, Loxoprofen Sodium Gel Patch, is a first-to-market generic in China with strong competitive advantages due to clinical approval barriers [1] - The company is expanding its market presence both in-hospital and out-of-hospital, with steady sales growth in centralized procurement regions and new growth drivers from online and offline channels [1] - Jiudian Pharmaceutical is deepening its focus on transdermal drug delivery systems, with multiple products in the pipeline expected to further enhance its market position [2] - The company's profitability is expected to grow significantly, with projected net profits of 525 million CNY, 692 million CNY, and 896 million CNY for 2024-2026, respectively [2] Financial Projections - Revenue is expected to grow from 2.693 billion CNY in 2023 to 4.677 billion CNY in 2026, with a CAGR of 18.6% [3] - EBITDA is projected to increase from 471 million CNY in 2023 to 1.068 billion CNY in 2026 [3] - EPS is forecasted to rise from 1.07 CNY in 2023 to 1.81 CNY in 2026, with a P/E ratio decreasing from 31.06x to 14.23x over the same period [3] Market and Product Analysis - Jiudian Pharmaceutical's Loxoprofen Sodium Gel Patch dominates the market with a 100% market share in 2022 and 2023 [32] - The company's Ketoprofen Gel Patch, approved in 2023, is expected to further expand its market share in the transdermal drug delivery sector [10] - Jiudian Pharmaceutical has a robust pipeline of transdermal drug delivery products, including Indomethacin Gel Patch and Lidocaine Gel Patch, which are expected to contribute to future growth [12][34] Industry Trends - The global transdermal drug delivery market is projected to reach 9.6 billion USD by 2027, driven by the advantages of transdermal patches such as ease of use and patient compliance [48] - Chronic pain, a growing issue due to aging populations, is expected to drive demand for transdermal pain relief products, with over 280 million chronic pain patients in China alone [58] Strategic Initiatives - Jiudian Pharmaceutical is actively building a nationwide marketing network, with a focus on both in-hospital and out-of-hospital markets [43] - The company has successfully developed a national commercial team and expanded its online presence, which is expected to drive further growth [45]

| 证券代码：300705 | 证券简称：九典制药 | 公告编号：2024-080 | | --- | --- | --- | | 债券代码：123223 | 债券简称：九典转02 | | 湖南九典制药股份有限公司 关于股东减持股份实施完毕的公告 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 股东梁胜华保证向本公司提供的信息内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 湖南九典制药股份有限公司（以下简称"公司"）于 2024 年 8 月 15 日披露 《关于股东减持股份的预披露公告》（公告编号：2024-052），公司监事梁胜华女 士，计划以集中竞价方式减持公司股份 36,354 股（占本公司总股本比例 0.007%）。 近日，公司收到梁胜华女士出具的《股份减持计划实施进展告知函》，其减 持股份计划已实施完毕。现将相关情况公告如下： 1、股东减持股份情况 2、股东本次减持前后持股情况 | 股东 | 股份性质 | 本次减持前持有股份 | 占总股本 | 本次减持后持有股份 | 占总股本 | | --- | --- | --- | --- | --- | --- | | 名称 ...