Group 1: Company Overview and Strategy - Hunan Jiutian Pharmaceutical Co., Ltd. is focusing on expanding its market presence through a multi-channel strategy and brand enhancement initiatives, including the launch of the "Jiutian Zhen Tong Xian Sheng" branding campaign on December 6, 2025 [2][3] - The company aims to strengthen its product pipeline by increasing R&D investments and introducing new products, while also leveraging its integrated supply chain to control costs and ensure product quality [3][4] Group 2: Product Specifics and Market Response - The company’s key product, Loxoprofen Sodium Gel Patch, has been selected in the 11th round of national drug centralized procurement at prices of ¥17.88 for 4 patches, ¥26.82 for 6 patches, and ¥35.76 for 8 patches, with a total planned selection of approximately 30.12 million patches [5] - Following the price reduction from centralized procurement, the company anticipates a potential increase in sales volume for Loxoprofen Sodium Gel Patch, contingent on market conditions post-implementation [5] Group 3: Mergers and Acquisitions - The company has acquired a 67% stake in Hunan Nona Pharmaceutical Technology Co., Ltd., which includes 67 drug licenses, enhancing its product offerings and market stability [3][4] - This acquisition is expected to fill potential sales gaps from the centralized procurement of Loxoprofen Sodium Gel Patch and diversify the product range with unique offerings like the Daiwen Moxibustion Patch [3] Group 4: Innovation and R&D Focus - The company is transitioning towards innovative drug development, establishing multiple R&D centers and focusing on various drug forms and cooperative models to expedite the development of new drugs [4][6] - Current R&D efforts are concentrated on oncology and chronic disease treatments, utilizing small molecules, peptides, and other advanced drug forms to build a robust pipeline [4][6] Group 5: Future Product Development - The JIJ02 gel is expected to complete Phase I clinical trials in the first half of 2026, with plans to initiate Phase II trials thereafter [7] - The company is optimistic about the market prospects for Ketoprofen Gel, which was approved in 2023 and included in the national medical insurance directory, and is implementing new sales strategies to enhance market penetration [7]

Group 1 - The total amount of share buybacks by A-share listed companies has exceeded 130 billion yuan this year, marking the second highest level in history [1][2] - In December, several companies from Hunan Province, including Hualing Steel and Blue思科技, have announced their share buyback progress, with a total buyback amount exceeding 800 million yuan [1] - Century Huatong completed its share buyback with a total amount of approximately 999.9 million yuan, repurchasing 56,120,796 shares at prices ranging from 17.06 yuan to 18.38 yuan per share [1] Group 2 - Over 1,400 companies in the A-share market have implemented buybacks since 2025, with the total buyback amount exceeding 130 billion yuan [2] - Midea Group leads the buyback amounts this year with over 9.6 billion yuan, having announced two buyback plans [2] - The stock buyback index has increased by over 27% this year, reaching a historical high, with more than 100 companies doubling their stock prices [2] Group 3 - As of December 2, Blue思科技 has repurchased 7.31 million shares for a total amount of 212 million yuan [3] - Flag Group has repurchased 27.96 million shares, exceeding its planned buyback amount, with a total buyback amount of 196 million yuan [3] - Hunan Silver has repurchased 19.76 million shares, with a total buyback amount of 106 million yuan [3] Group 4 - As of November 30, Hualing Steel has repurchased 4.35 million shares for a total amount of 210 million yuan [4]

截至 2025 年 11 月 30 日，公司通过股份回购专用证券账户以集中竞价交易 方式累计回购股份 6,180,800 股，占公司目前总股本的 1.24%，最高成交价为 18.44 元/股，最低成交价为 14.51 元/股，成交总金额为 100,031,244 元（不含 交易费用）。本次回购符合相关法律法规及公司既定的回购方案。 二、其他说明 湖南九典制药股份有限公司 关于回购公司股份的进展公告 本公司及董事会全体成员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 2025 年 2 月 17 日召开 第四届董事会第九次会议，审议通过了《关于回购公司股份方案的议案》，同意 公司通过集中竞价交易方式以自有资金和股票回购专项贷款资金回购部分社会 公众股份，用于后期实施股权激励计划。本次回购的资金总额不低于人民币 10,000 万元且不超过人民币 15,000 万元，回购价格不超过人民币 24.98 元/股， 实施期限为自董事会审议通过回购股份方案之日起 12 个月内。具体内容详见公 司在巨潮资讯网披露的《回购股份报告书》（公告编号 ...

（文章来源：证券日报） 证券日报网讯 11月27日，九典制药在互动平台回答投资者提问时表示，公司股东人数按规定在定期报 告中进行披露，请参见公司定期报告。 ...

Core Insights - Hunan Jiutian Pharmaceutical Co., Ltd. successfully won the bid for its core product, Loxoprofen Sodium Gel Patch, in the 11th national drug centralized procurement, with a total bid quantity of approximately 30.12 million patches across 11 provinces [2][3] - The company is undergoing a transformation towards innovative drugs, focusing on oncology and chronic diseases, with multiple R&D centers established to leverage regional advantages [4][5] - Jiutian Pharmaceutical is implementing a multi-faceted strategy to address market changes post-bid, including expanding its sales channels and enhancing its product pipeline through investments and acquisitions [3][4] Group 1: Bidding and Market Expectations - Jiutian Pharmaceutical's Loxoprofen Sodium Gel Patch was successfully selected in the centralized procurement at prices of 17.88 yuan for 4 patches, 26.82 yuan for 6 patches, and 35.76 yuan for 8 patches, with a total of 30.12 million patches to be supplied [2] - The company anticipates a potential increase in sales volume due to the growing demand in the chronic pain treatment market, although short-term profit margins may be pressured due to procurement requirements [2] Group 2: Response Strategies to Procurement Challenges - The company plans to enhance its sales strategy by focusing on outpatient markets and accelerating brand development while also investing in new product launches and pipeline expansion through acquisitions [3] - Jiutian Pharmaceutical emphasizes its integrated supply chain advantage, combining formulations, active pharmaceutical ingredients, and excipients to strengthen cost control and ensure product quality [3] Group 3: Innovative Drug Transformation and R&D Pipeline - Jiutian Pharmaceutical is adopting a strategy of multiple R&D centers and various drug forms to accelerate its innovative drug development, particularly in oncology and chronic diseases [4] - The company is planning to initiate Phase II clinical trials for its key project, JIJ02 gel, in the first half of 2026, while also implementing a share repurchase plan to align interests with its core team [5]

Group 1: Product Performance and Market Strategy - The company’s Loxoprofen Sodium Gel Patch was selected in the 11th batch of national drug centralized procurement with prices set at ¥17.88 for 4 patches, ¥26.82 for 6 patches, and ¥35.76 for 8 patches, with a planned selection quantity of 30.122605 million patches [2] - The company anticipates a certain growth in sales for the Loxoprofen Sodium Gel Patch post-price reduction due to the ongoing growth in the chronic pain treatment market, with actual performance feedback expected after next year's procurement execution [2][3] - The company plans to expand its sales channels and enhance brand building in response to the centralized procurement, leveraging its established multi-channel coverage system [4] Group 2: Financial Impact and Adjustments - The centralized procurement is expected to lead to a phase adjustment in profit margins for the Loxoprofen Sodium Gel Patch, impacting short-term revenue and profit performance [3] - The company is facing pressure to meet its annual targets due to market challenges, prompting a focus on promoting new products and enhancing market penetration through education and optimized product positioning [9] Group 3: Innovation and R&D Initiatives - The company is transitioning towards innovative drug development, establishing multiple R&D centers and focusing on various drug forms and collaboration models [5] - The R&D team consists of over 40 experts with experience in drug design and clinical research, focusing on oncology and chronic disease treatments using small molecules, peptides, and other drug forms [5] - The JIJ02 gel is expected to complete Phase I clinical trials in the first half of next year, with Phase II trials to follow [6] Group 4: Corporate Governance and Employee Engagement - The company is implementing a share repurchase plan to support future equity incentive programs, aiming to align the interests of the company, shareholders, and core team members [7]

Group 1 - Shengxin Lithium Energy signed a framework agreement with Huayou Cobalt for the procurement of 221,400 tons of lithium salt products over five years [1] - Wehua New Materials' subsidiary plans to acquire 70% of He Yutai for 154 million yuan [1] - Xiamen Tungsten plans to invest 600 million yuan to establish a wholly-owned subsidiary for a project with an annual production capacity of 50,000 tons of high-performance battery materials [1][2] Group 2 - *ST Songfa's subsidiary signed a shipbuilding contract worth approximately 200-300 million USD for two VLCCs [3] - Hailianxun's stock will resume trading on November 19 after the end of the acquisition request period [5] - Yunnan Energy Investment obtained the development rights for a 25,000 kW wind power project [7] Group 3 - China Resources Double Crane's subsidiary received a drug registration certificate for Oxcarbazepine tablets [8] - Jincheng Pharmaceutical's subsidiary received a CEP certificate for glutathione raw materials [9] - Jinkong Electric plans to transfer 51% of Tongying Thermal Power to an affiliate for 266 million yuan [9] Group 4 - Clean Technology's subsidiary won a bid for a waste incineration power generation project in Thailand with a total investment of up to 4.27 million USD [12] - Tonglian Precision's shareholders set the transfer price for shares at 43.67 yuan each [13] - Hu Nong Commercial Bank's executives collectively purchased 259,100 shares of the company [13] Group 5 - Huatai Medical's subsidiary obtained a medical device registration certificate for polyethylene embolization microspheres [13] - Fosun Pharma's subsidiary's drug registration application was accepted by the National Medical Products Administration [13] - Xianhui Technology signed contracts worth 796 million yuan with multiple subsidiaries of CATL [15] Group 6 - Ningbo Fangzheng signed a strategic cooperation agreement with Huaxiang Qiyuan for the development of various robotic technologies [15] - Ruida Futures' vice president resigned for personal reasons [16] - Samsung Medical is expected to win contracts worth approximately 125 million yuan from the State Grid [17] Group 7 - Tianjin Pharmaceutical's injectable methylprednisolone sodium succinate received registration from Panama's Ministry of Health [19] - Yaxing Anchor Chain plans to invest up to 300 million yuan in a project for deep-sea floating equipment [20] - Zejing Pharmaceutical's clinical trial for ZG006 was approved by the National Medical Products Administration [21] Group 8 - Weiye Co., Ltd. won a bid for a project worth approximately 2.086 billion yuan [23] - Ruimao Tong plans to sell 8.5794 million repurchased shares [25] - Guangge Technology's shareholders plan to reduce their holdings by up to 3.99% [26] Group 9 - Hongsheng Development signed a debt restructuring contract for a total of 2 billion yuan [27][28] - Yatai Co., Ltd. plans to reduce its holdings by up to 1% [30] - Dexin Technology's shareholder plans to reduce its holdings by up to 1% [31] Group 10 - Yaji International's shareholder plans to reduce its holdings by up to 1% [33] - Shenzhen New Star's subsidiary received approval for trial production of a boron trifluoride project [35] - Shengyi Electronics plans to raise up to 2.6 billion yuan through a private placement [36]

格隆汇11月17日丨九典制药(300705.SZ)公布，为巩固对湖南诺纳医药科技有限公司（简称"诺纳医药"） 的控股地位，进一步深化公司在生物医药领域的战略布局，拟使用自有资金4,658.45万元，收购海南上 善弘仁私募创业投资基金合伙企业（有限合伙）（简称"上善弘仁"）持有的诺纳医药10%股权。本次交 易完成后，公司对诺纳医药的持股比例将由60%提升至70%，诺纳医药仍为公司控股子公司，继续纳入 合并报表范围。 ...

Core Viewpoint - Jiutian Pharmaceutical (300705) plans to acquire a 10% stake in Nona Pharmaceutical, increasing its ownership from 60% to 70% by using its own funds of 46.5845 million yuan [1] Group 1 - The acquisition will enhance Jiutian Pharmaceutical's control over Nona Pharmaceutical [1] - The transaction reflects Jiutian Pharmaceutical's strategy to strengthen its investment in the pharmaceutical sector [1]

Core Viewpoint - Jiutian Pharmaceutical plans to acquire an additional 10% stake in Hunan Nona Pharmaceutical Technology Co., Ltd. for 46.5845 million yuan to strengthen its control and strategic positioning in the biopharmaceutical sector [1] Group 1: Acquisition Details - The acquisition will increase Jiutian Pharmaceutical's ownership in Nona Pharmaceutical from 60% to 70% [1] - Nona Pharmaceutical will continue to be a subsidiary of Jiutian Pharmaceutical and will remain within the consolidated financial statements [1] Group 2: Strategic Implications - The acquisition is aimed at enhancing control over Nona Pharmaceutical, facilitating resource integration within the industry chain [1] - This move aligns with Jiutian Pharmaceutical's long-term development strategy to boost its competitiveness in the biopharmaceutical field [1]