Core Viewpoint - The company Yipinhong's wholly-owned subsidiary, Yipinhong Biopharmaceutical Co., Ltd., has received approval from the National Medical Products Administration for clinical trials of its drug Qinxiangqing Oral Solution, aimed at treating acute upper respiratory infections in adults [1] Group 1 - The drug Qinxiangqing Oral Solution has been assigned the acceptance number CYZB2502650 for its clinical trial application [1] - The approval notification for the clinical trial is documented under the number 2026LP00262 [1] - The clinical trial will focus on the treatment of adults with acute upper respiratory infections characterized by both heat and cold symptoms [1]

一品红药业集团股份有限公司（以下简称：公司）全资子公司一品红生物医 药有限公司申报的芩香清解口服液（受理号：CYZB2502650）于近日获得国家药 品监督管理局签发的药物临床试验批准通知书（通知书编号：2026LP00262）， 同意本品开展用于成人急性上呼吸道感染表里俱热证的临床试验。现将有关情况 公告如下： 一、药品的基本情况 证券代码：300723 证券简称：一品红 公告编号：2026-005 一品红药业集团股份有限公司 关于全资子公司芩香清解口服液获得药物临床试验通知书的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 二、药品研发及其他情况 急性上呼吸道感染表里俱热证在成人群体和儿童群体具有相似的发病机制 和治则治法，芩香清解口服液从药物组成、临床疗效、与已上市药物的对比等方 面，均具有独特优势。目前，芩香清解口服液用于儿童群体。将芩香清解口服液 用药人群扩展到成人，能够解决未被满足的临床需求，为临床药物治疗提供新的 选择。本次芩香清解口服液补充申请是在进一步完善临床试验方案的基础上，增 加适用人群范围：用于成人急性上呼吸道感染表里俱热证。 药 ...

证券之星消息，1月26日化学制药板块较上一交易日下跌0.18%，富祥药业领跌。当日上证指数报收于 4132.61，下跌0.09%。深证成指报收于14316.64，下跌0.85%。化学制药板块个股涨跌见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 从资金流向上来看，当日化学制药板块主力资金净流入11.16亿元，游资资金净流入2.2亿元，散户资金净 流出13.37亿元。化学制药板块个股资金流向见下表： | 代码 | 名称 | 主力净流入 (元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 600789 | 鲁抗医药 | 26653 | 29.72% | -1.98亿 | -14.72% | -2.01 乙 | -14.99% | | 300723 | 一品红 | 1.00 Z | 13.23% | 2678.72万 | 3.54% | -1.27 Z | -16.76% ...

Key Points - SpaceX's procurement orders for calibration testing products from 康斯特 from 2016 to 2024 are relatively small [1] - 法尔胜 does not engage in businesses related to "controlled nuclear fusion," "superconductors," or "commercial aerospace" [1] - 龙旗科技 plans to invest 1.5 billion yuan to build an AI + smart terminal digital benchmark factory project in Nanchang High-tech Zone [1] - 蜀道装备 has won a contract worth 6,486,000 USD for the Rumuji natural gas liquefaction facility project in Nigeria [1] - TCL科技's subsidiary intends to acquire a 10.7656% stake in Shenzhen Huaxing Semiconductor for 6.045 billion yuan [1] - 一品红 plans to repurchase shares worth between 100 million to 200 million yuan [2] - 实丰文化's shareholders plan to reduce their holdings by no more than 3% [2] - 随升科技 intends to raise no more than 470 million yuan through a private placement [1][2] - 太力科技 has signed a strategic cooperation framework agreement with Jinan University [1][2]

1月22日，一品红收跌1.34%，收盘价为35.31元，发生1笔大宗交易，合计成交量11.88万股，成交金额 419.48万元。 责任编辑：小浪快报 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 第1笔成交价格为35.31元，成交11.88万股，成交金额419.48万元，溢价率为0.00%，买方营业部为机构 专用，卖方营业部为中信证券股份有限公司上海分公司。 进一步统计，近3个月内该股累计发生1笔大宗交易，合计成交金额为419.48万元。该股近5个交易日累 计下跌9.14%，主力资金合计净流出8981.29万元。 ...

Summary of Alpha Molecular Technology Conference Call Company Overview - **Company**: Alpha Molecular Technology - **Focus**: AI drug development targeting GPCR (G protein-coupled receptors) - **Funding**: Completed 150 million RMB financing - **Pipeline**: Four research pipelines, with the autoimmune pipeline progressing the fastest, currently in Phase I clinical trials, expected to complete EA clinical trials by 2026 [2][6][21] Industry Insights - **GPCR Target Potential**: GPCR targets have significant development potential, with GLP-1 drugs like Semaglutide and Tirzepatide projected to generate sales of $175 billion and $11.5 billion respectively by 2024 [2][7] - **Market Position**: Alpha Molecular Technology holds a first-mover advantage in the GPCR field, having achieved high prediction accuracy in the 2021 Global GPCR Drug Competition, surpassing Google’s AlphaFold 2 [2][7] Key Developments - **Clinical Trials**: The drug AM001 (mast cell receptor modulator) has entered the EA stage, with all EB experiments expected to be completed by the end of 2027. Indications include atopic dermatitis, chronic urticaria, and IBD (inflammatory bowel disease) [2][10][12] - **Safety Profile**: The design of autoimmune pipeline drugs emphasizes safety, showing promising results in healthy human data and animal studies, indicating potential to become a first-in-class (FIC) drug [11][12] Strategic Plans - **Business Development (BD)**: Alpha plans to engage in BD transactions after validating healthy human data, particularly for popular targets like GLP-1, potentially entering the IND enabling stage [3][17] - **IPO Prospects**: The company anticipates a significant opportunity for an IPO within five years, contingent on clinical progress [3][23] Team and Expertise - **Founders**: The founding team, led by Dr. Yuan Shuguang and Academician Hostogo, brings extensive experience in GPCR research and AI, with Dr. Yuan having over 16 years in the field [4][8] - **Collaborations**: The company collaborates with NVIDIA for hardware support and has participated in their startup acceleration program [9][26] Research and Development - **Pipeline Logic**: The four pipelines cover metabolic weight loss and cancer pain relief, with two targeting weight loss through non-GLP-1 and GLP-1/GIP2/GCGR pathways [15][16] - **Data Utilization**: Alpha utilizes external data to enhance its AI platform, improving drug development efficiency [18][19] Financial Overview - **Valuation**: The latest financing round valued the company at approximately 500 million RMB, with funds primarily allocated to clinical trials for the autoimmune pipeline [21] Future Directions - **Long-term Goals**: The company aims to evolve from a startup to a firm deeply engaged in GPCR target research, with plans to advance more pipelines into clinical trials and potentially launch new drugs [27]

Core Viewpoint - On January 19, a total of 17 listed companies had their restricted shares unlocked, with a total market value of approximately 8.181 billion yuan [1]. Summary by Category Restricted Share Unlocking - The following companies had restricted shares unlocked: - Vanadium Titanium Co., Ltd. (Stock Code: 000629) - 4.0126 million shares from equity incentive [1] - Guodian NARI Technology Co., Ltd. (Stock Code: 600406) - 11.883 million shares from equity incentive [1] - Huayi Group Co., Ltd. (Stock Code: 600623) - 356,100 shares from equity incentive [1] - Western Securities Co., Ltd. (Stock Code: 002673) - 360 million shares from A-share issuance to original shareholders [1] - Chang Aluminum Co., Ltd. (Stock Code: 002160) - 237 million shares from A-share issuance to legal persons [1] - Hikvision Digital Technology Co., Ltd. (Stock Code: 002415) - 29.2208 million shares from equity incentive [1] - Jieshun Technology Co., Ltd. (Stock Code: 002609) - 258,100 shares from equity incentive [1] - Yaoji Technology Co., Ltd. (Stock Code: 002605) - 975,000 shares from equity incentive [1] - Subote Co., Ltd. (Stock Code: 603916) - 629,000 shares from equity incentive [1] - Yipin Hong Co., Ltd. (Stock Code: 300723) - 150,000 shares from equity incentive [1] - Shandong Fiberglass Group Co., Ltd. (Stock Code: 605006) - 112,200 shares from equity incentive [1] - Keta Bio-Pharmaceutical Co., Ltd. (Stock Code: 300858) - 2.0053 million shares from A-share issuance to legal persons [1] - Xinlei Co., Ltd. (Stock Code: 301317) - 112 million shares from pre-issuance restrictions [1] - Zhiwei Intelligent Co., Ltd. (Stock Code: 001339) - 293,500 shares from equity incentive [1] - Demingli Co., Ltd. (Stock Code: 001309) - 247,500 shares from equity incentive [1] - Jiuzhou Yigui Co., Ltd. (Stock Code: 688485) - 600,000 shares [1] - Yingfang Software Co., Ltd. (Stock Code: 688435) - 36.3174 million shares [1]

Market Performance - The pharmaceutical sector experienced a decline of -1.18% on January 15, 2025, underperforming the CSI 300 index by 1.38 percentage points, ranking 25th among 31 sub-industries in the Shenwan classification [1] - Among sub-industries, other biological products (-0.04%), hospitals (-0.75%), and medical consumables (-0.77%) performed relatively well, while pharmaceutical distribution (-2.57%), medical devices (-2.51%), and offline pharmacies (-2.11%) lagged behind [1] - Top three gainers included Shanhe Pharmaceutical (+20.01%), Duori Pharmaceutical (+11.48%), and Yahong Pharmaceutical (+7.69%); top three losers were Sunflower (-20.00%), Hongbo Pharmaceutical (-20.00%), and Huaren Health (-19.99%) [1] Industry News - Ipsen announced that the FDA has granted breakthrough therapy designation for its investigational monoclonal antibody IPN60340, which is used in combination with Ven-Aza for the treatment of newly diagnosed acute myeloid leukemia (AML) patients who are not suitable for intensive therapy [2] - The designation is based on data from the Phase 1/2 EVICTION trial, showing that patients receiving the combination treatment had a nearly doubled complete remission rate compared to historical standard treatment data, particularly in subtypes that typically respond poorly to standard treatment [2] - IPN60340 targets BTN3A, a key immune regulatory molecule widely expressed in various cancers, promoting the recognition and elimination of tumor cells by γ9δ2 T cells [2] Company News - Saint Noble Bio (688117) announced an expected net profit attributable to shareholders of 152-190 million yuan for 2025, representing a year-on-year growth of 204.42%-280.53%, with a non-recurring net profit expected to be 149-186 million yuan, reflecting a growth of 226.07%-307.58% [3] - Yipinhong (300723) reported similar profit expectations for 2025, with a net profit forecast of 152-190 million yuan and a non-recurring net profit of 149-186 million yuan, both showing significant year-on-year growth [3] - Chutian Technology (300358) expects to achieve a net profit of 235-300 million yuan for 2025, marking a turnaround from losses in the previous year, with a non-recurring net profit forecast of 135-200 million yuan [3] - Ganli Pharmaceutical (603087) received approval from the Ethiopian National Food and Drug Administration for the registration of its insulin glargine injection and pre-filled pen, allowing for import and sale in Ethiopia [3]

Core Viewpoint - Yipinhong Pharmaceutical Group Co., Ltd. has reported a significant loss for the year 2025, continuing a trend of declining performance due to various pressures including high patent litigation costs and weak core business performance [1] Financial Performance - The company expects a net profit attributable to shareholders for 2025 to be between -313 million to -442 million yuan, representing a year-on-year increase of 18.22% to 42.07% [1] - The expected net profit after deducting non-recurring gains and losses is projected to be between -336 million to -475 million yuan, showing a year-on-year decrease of 16.35% to 64.26% [1] - In 2024, the company reported its first loss since going public, with a net profit attributable to shareholders of -540 million yuan and a net profit of -289 million yuan after deductions [3] - For the first three quarters of 2025, the company achieved operating revenue of 814 million yuan, a year-on-year decline of 34.35%, and a net profit attributable to shareholders of -136 million yuan [4] Business Challenges - The decline in sales and gross margin is attributed to the company's new production base and increased depreciation and amortization costs, alongside ongoing R&D investments [1] - The company faced a significant challenge from a 266 million yuan medical insurance refund due to previous procurement violations, which heavily impacted its financial results [3] Positive Developments - Yipinhong announced a positive development with its investment in Arthrosi Therapeutics, Inc., which is set to be acquired by Sobi US Holding Corp. for a total of 950 million USD (approximately 6.713 billion yuan) in upfront payments and potential milestone payments [2] - The company's controlling shareholder, Guangdong Guangrun Group Co., Ltd., has transferred a 9.07% stake in Arthrosi to Yipinhong without conditions, supporting the company's R&D efforts [2] Legal Issues - The company is currently involved in a legal dispute with Huiyou International, facing a claim of 528 million yuan related to patent valuation and ownership issues [5] - Yipinhong has engaged a legal team to respond to the lawsuit, asserting that the claims are unfounded [6]

Group 1 - The stock of Yipinhong Pharmaceutical Group Co., Ltd. fell by 5.22% to 36.83 CNY per share, with a trading volume of 345 million CNY and a turnover rate of 2.18%, resulting in a total market capitalization of 16.636 billion CNY [1] - Yipinhong was established on February 4, 2002, and listed on November 16, 2017. The company is located in Guangzhou, Guangdong Province, and its main business involves the research, production, and sales of proprietary drugs, as well as the sales of agency drugs [1] - The revenue composition of Yipinhong includes 61.12% from pediatric drugs, 22.71% from chronic disease drugs, and 16.17% from other products [1] Group 2 - According to data from the top ten holdings of funds, one fund under Bosera Asset Management holds Yipinhong as a significant investment. The Bosera New Strategy Mixed A Fund (001522) held 17,600 shares in the third quarter, accounting for 1.85% of the fund's net value, ranking as the seventh largest holding [2] - The Bosera New Strategy Mixed A Fund was established on November 23, 2015, with a latest scale of 55.9469 million CNY. Year-to-date returns are 3.44%, ranking 5041 out of 8847 in its category, while the one-year return is 12.24%, ranking 6188 out of 8094 [2] - The fund managers, Li Chongyang and Luo Xiao, have tenures of 2 years and 345 days, and 3 years and 110 days respectively, with total assets under management of 1.106 billion CNY and 18.779 billion CNY respectively [2]