广东省广州市天河区珠江新城华夏路 10 号富力中心 23 楼整层及 31 楼 01、04 单元 邮编：510623 23/F, Units 01 & 04 of 31/F, R&F Center, 10 Huaxia Road, Zhujiang New Town, Tianhe District Guangzhou, Guangdong 510623, P. R. China 电话/Tel : +86 20 2826 1688 传真/Fax : +86 20 2826 1666 www.zhonglun.com 北京市中伦（广州）律师事务所 关于一品红药业集团股份有限公司 2025 年第二次临时股东大会的 法律意见书 致：一品红药业集团股份有限公司 北京市中伦（广州）律师事务所（以下简称"本所"）受一品红药业集团股份有 限公司（以下简称"公司"）委托，指派本所律师邵芳、杨小颖（以下简称"本所律 师"）出席公司 2025 年第二次临时股东大会（以下简称"本次股东大会"）。本所律 师根据《中华人民共和国公司法》（以下简称"《公司法》"）、《上市公司股东会 规则》等有关法律、法规、规范性文件及《一品红药业集团股份 ...

Core Viewpoint - The article highlights significant policy support for the innovative drug sector in China, which is expected to drive growth and investment opportunities in the industry [2][6][10]. Policy Support - The National Healthcare Security Administration and the National Health Commission issued measures to support the high-quality development of innovative drugs, including 16 specific initiatives across five areas [2][6]. - The measures include utilizing healthcare data for innovative drug research and encouraging commercial health insurance to expand investment in innovative drugs [6][7]. Market Reaction - Following the announcement of the supportive policies, innovative drug stocks surged, with companies like Sali Medical and Guizhou BaiLing hitting the daily limit, and others like Shuyitai and Hotgen Biotech seeing significant gains [3][5]. Future Outlook - Analysts predict that 2025 will be a pivotal year for domestic innovative drug companies to expand internationally, driven by technological innovation and market growth [4][12]. - The innovative drug market is expected to continue expanding, with a notable increase in overseas licensing deals and a shift from capital-driven growth to profit-driven growth [11][12]. Investment Opportunities - Investment strategies should focus on potential companies that may expand internationally, particularly in areas such as next-generation immunotherapy, antibody-drug conjugates (ADC), and breakthroughs in chronic disease treatments [11][12].

Group 1 - Beixin Road and Bridge's application for issuing shares to specific targets has been approved by the Shenzhen Stock Exchange, pending approval from the China Securities Regulatory Commission [1] - Wangbian Electric's shareholders plan to reduce their holdings by a total of up to 2.99% of the company's shares, with specific reductions detailed for each shareholder [1] - Guotou Zhonglu is planning a major asset restructuring, leading to a suspension of its stock trading for up to 10 trading days [2] Group 2 - Baiotai has signed a licensing agreement with SteinCares for the commercialization of BAT2406 in Brazil and Latin America, with total payments potentially reaching up to $10 million [3] - Dongfang Bio has obtained two medical device registration certificates for its products, which are valid until June 1, 2030 [4] - Pulaike's subsidiary has received a new veterinary drug registration certificate [5] Group 3 - Wanyi Technology has signed an agreement to establish a joint laboratory with the Energy Research Institute, with a total research and development budget of 6 million yuan [6] - Yingboer plans to use up to 300 million yuan of idle funds for financial management [7] - Blue Biological has received two new veterinary drug registration certificates [8] Group 4 - Jinkai New Energy intends to inject up to 1.247 billion yuan into its wholly-owned subsidiary to enhance its operational capabilities [9] - China Pacific Insurance's assistant general manager's qualification has been approved [10] - Zhaoyan New Drug is reducing its registered capital and notifying creditors [11] Group 5 - Weili Medical plans to invest 37.5 million yuan in establishing a medical industry investment fund [12] - Hongbai New Materials has signed a deposit agreement for idle raised funds [13] - Tongyou Technology is applying for a credit limit of 10 million yuan from a bank [14] Group 6 - Warner Pharmaceutical's subsidiary has received approval for its magnesium sulfate raw material drug [15] - Fuda Co. plans to establish a wholly-owned subsidiary with a capital contribution of 475 million yuan [16] - Yabao Pharmaceutical has obtained a loan commitment letter for stock repurchase of up to 90 million yuan [17] Group 7 - Zhongyin Securities' chairman has resigned due to work adjustments [18] - Aili Home has terminated its share reduction plan ahead of schedule [19] - Samsung New Materials has appointed a new financial officer [20] Group 8 - Guobang Pharmaceutical's subsidiary has received EU GMP certification for its product [21] - Yipin Hong has received a drug registration certificate for its injection solution [22] - Wenzhou Hongfeng's subsidiary has obtained a utility model patent certificate [23] Group 9 - Cangge Mining plans to sign a financial service agreement with Zijin Mining Group [24] - Naipu Mining's application for convertible bonds has been accepted by the Shenzhen Stock Exchange [25] - Shenyang Machine Tool has completed its major asset restructuring [26] Group 10 - Xinlaifu plans to distribute a cash dividend of 5 yuan per 10 shares [27] - Jiashitang plans to distribute a cash dividend of 1.7 yuan per 10 shares [28] - Manbuer plans to distribute a cash dividend of 2.5 yuan per 10 shares [29] Group 11 - Guo Wang Yingda plans to distribute a cash dividend of 0.51 yuan per 10 shares [30] - Changsha Bank's shareholder plans to reduce holdings by up to 0.92% [31] - Hu Nong Commercial Bank plans to distribute a cash dividend of 1.93 yuan per 10 shares [32] Group 12 - Huaxiang Co. plans to distribute a cash dividend of 1.17 yuan per 10 shares [33]

证券代码：300723 证券简称：一品红 公告编号：2025-047 一品红药业集团股份有限公司 关于公司股东部分股份解除质押的公告 | | | | | | | | | 已质押股份情况 | 未质押股份情况 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 直接 | 本次解除 | 本次解除 | 占其所 | 占公 | 直接持 | | 直接持股 | | | 股东 | 直接持股 | 持股 | 质押前质 | 质押后质 | 持股份 | 司总 | 股中已 | 占已质 | 中未质押 | 占未质 | | 名称 | 数量（股） | | 押股份数 | 押股份数 | | 股本 | 质押股 | 押股份 | | 押股份 | | | | 比例 | 量（股） | 量（股） | 比例 | 比例 | 份限售 | 比例 | 股份限售 | 比例 | | | | | | | | | 数量 | | 数量 | | | 广东 | | | | | | | | | | | | 广润 | 183,600,000 | 40.65% | 0 | 0 | 0 | ...

Group 1 - Wenzhou Hongfeng (300283) announced that its subsidiary, Zhejiang Hongfeng Copper Foil Co., Ltd., has received a utility model patent certificate from the National Intellectual Property Administration for a "Polishing Device for the Edge of a Copper Foil Machine" [1] - The patent number is "ZL202422197490.0," with an application date of September 9, 2024, and an authorization announcement date of June 20, 2025 [1] - The patent has a validity period of ten years from the application date, which will enhance the company's and its subsidiaries' competitive edge through the establishment of a continuous innovation mechanism [1] Group 2 - Yipin Hong (300723) announced that its wholly-owned subsidiary has obtained a registration certificate for injectable zoledronic acid concentrated solution, which is classified as a Category B product under the national medical insurance scheme [1] - The approved injectable zoledronic acid concentrated solution was registered as a Class 4 chemical drug, which is considered equivalent to passing the consistency evaluation [1]

证券代码：300723 证券简称：一品红 公告编号：2025-046 药品注册标准编号：YBH13742025 一品红药业集团股份有限公司 关于全资子公司获得注射用唑来膦酸浓溶液注册证书的公告 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。 一品红药业集团股份有限公司（以下简称"公司"）全资子公司广州市联瑞 制药有限公司于近日收到国家药品监督管理局核准签发的关于注射用唑来膦酸 浓溶液的《药品注册证书》，现将有关事项公告如下： 一、药品注册证书主要信息 药品通用名称：注射用唑来膦酸浓溶液 英文名/拉丁名：Zoledronic Acid Concentrated Solution for Injection 主要成份：唑来膦酸 剂 型：注射剂 注册分类：化学药品 4 类 规 格：5ml:4mg（按 C5H10N2O7P2计） 药品有效期：24 个月 申请事项：药品注册（境内生产） 包装规格： 5 支/盒 处方药/非处方药：处方药 审批结论：根据《中华人民共和国药品管理法》及有关规定，经审查，本品 符合药品注册的有关要求，批准注册，发给药品注册证书。质量标准、说明书 ...

一品红药业集团股份有限公司（以下简称"公司"）近日接到公司股东、董 事李捍东先生的通知，获悉李捍东先生所持有公司的股份部分被质押，现将有关 情况公告如下： 一、股东部分股份质押的基本情况 本次股东股票质押基本情况如下： 证券代码：300723 证券简称：一品红 公告编号：2025-045 一品红药业集团股份有限公司 关于公司股东部分股份质押的公告 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。 截至本公告披露之日，广润集团直接持有公司股份 183,600,000 股，占比 40.65%；吴美容女士直接持有公司股份 25,486,560 股，占比 5.64%；李捍雄先 生直接持有公司股份 24,840,000 股，占比 5.50%。此外，李捍雄先生还通过持 有广州市福泽投资管理中心（有限合伙）37.45%的出资份额间接持有公司股份 9,099,000 股，占比 2.01%。李捍东先生还通过持有广州市福泽投资管理中心（有 限合伙）31.11%的出资份额间接持有公司股份 7,560,000 股，占比 1.67%，合计 持有 21,198,463 股，占公司总股份的 ...

Investment Rating - The investment rating for the biopharmaceutical industry is "Positive" (maintained) [2] Core Insights - The GLP-1RA class of drugs, represented by Semaglutide and Tirzepatide, is rapidly expanding, creating a multi-billion dollar market opportunity. By 2031, global sales of GLP-1RA drugs are expected to exceed $150 billion, with significant growth anticipated in the weight loss market post-2025 [6][23] - Major multinational corporations (MNCs) are accelerating their entry into the weight loss and diabetes management market, with frequent high-value business development (BD) transactions. Notable acquisitions include Roche's $3.1 billion purchase of Carmot Therapeutics and Merck's acquisition of Hanmi Pharmaceutical's oral GLP-1 small molecule [25][28] - The development of oral and ultra-long-acting products is expected to enhance patient compliance, with ongoing research into both small molecule and peptide oral drugs. Companies like Eli Lilly and Novo Nordisk are leading in this area, with several domestic firms also showing strong potential for international expansion [30] Summary by Sections 1. MNC Accelerating Layout in Weight Loss and Diabetes Management - GLP-1RA drugs are experiencing rapid growth, with Semaglutide and Tirzepatide leading the market. In 2024, Semaglutide's global sales are projected to be approximately $29.2 billion, a year-on-year increase of about 38%, while Tirzepatide's sales are expected to reach $16.5 billion, growing by approximately 208% [16][17] - The market is currently dominated by Novo Nordisk and Eli Lilly, which together hold nearly 97% market share, indicating a duopoly in the sector [23][24] 2. Enhancing Patient Compliance through Oral and Ultra-Long-Acting Products - The development of oral GLP-1RA drugs is seen as a promising avenue to improve patient adherence, with ongoing research into both small molecule and peptide formulations. Companies like Eli Lilly and Novo Nordisk are at the forefront of this innovation [30] - Ultra-long-acting formulations are also being developed, significantly extending dosing intervals and simplifying treatment regimens, which is expected to further enhance patient compliance [7][30] 3. Multi-Target Drug Development and Combination Therapies - Multi-target weight loss drugs are being developed to overcome the limitations of single-target therapies, aiming to activate or inhibit multiple metabolic receptors for improved efficacy. Key targets include GIPR, GCGR, and AMYR [8][29] - Combination therapies that integrate special targets are anticipated to set new standards in weight loss treatment, focusing on fat reduction while preserving lean body mass [8][29] 4. Investment Recommendations - The report recommends several companies as potential investment opportunities, including Innovent Biologics, East China Pharmaceutical, and Boehringer Ingelheim, which are well-positioned in the weight loss and diabetes management sectors. Beneficiary companies include Heng Rui Medicine, Shijiazhuang Pharmaceutical Group, and others [9]

Core Viewpoint - The announcement details the partial release of share pledges by shareholder Li Handong, indicating a positive development in the company's shareholder structure and financial health [3][7]. Summary by Sections Shareholder Pledge Release - Li Handong has released a total of 2,300,000 shares from pledge, which accounts for 16.86% of his directly held shares [3]. - As of the announcement date, Li Handong directly holds 13,638,463 shares, representing 3.02% of the company's total share capital [3]. Cumulative Pledge Situation - The total number of shares under pledge by Li Handong and the actual controllers amounts to 29,636,560 shares, which is 6.56% of the company's total share capital [7]. - The pledged shares represent 11.22% of Li Handong's total holdings in the company [7]. Other Relevant Information - The release of the pledge is unrelated to the company's operational needs and will not materially affect its production, operations, or governance [7]. - Li Handong's personal credit and financial status are reported to be good, indicating no risk of forced liquidation or transfer of pledged shares [7]. - The company will continue to monitor Li Handong's share pledge situation and fulfill its information disclosure obligations [7].

证券代码：300723 证券简称：一品红 公告编号：2025-044 一品红药业集团股份有限公司 关于公司股东部分股份解除质押的公告 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。 一品红药业集团股份有限公司（以下简称"公司"）近日接到公司股东、董 事李捍东先生的通知，获其所持有公司的部分股份解除质押，现将有关情况公告 如下： 一、股东部分股份解除质押的基本情况 本次股东股票解除质押基本情况如下： | 股东名 | 是否为控股股 东或第一大股 | 本次解除质押 | 占其直接 所持股份 | 占公司总 | 起始日期 | 解除日期 | 质权人/申 请人等 | | --- | --- | --- | --- | --- | --- | --- | --- | | 称 | 东及其一致行 动人 | 股份数量 | 比例 | 股本比例 | | | | | | | | | | 2023 年 7 | 2025 年 6 月 | 招商证券 | | 李捍东 | 是 | 2,300,000 | 16.86% | 0.51% | 月 5 日 | 18 日 | 股份有限 | | | | | | ...