Core Points - Hangzhou Minsheng Health Pharmaceutical Co., Ltd. has signed a strategic cooperation agreement with JD Health on November 19, 2023 [1] - The company's smoking cessation drug, Minsheng Lesuke (Varenicline Tartrate Tablets), will be launched exclusively on JD Health [1] Company Summary - Hangzhou Minsheng Health Pharmaceutical Co., Ltd. is focusing on expanding its market presence through strategic partnerships [1] - The collaboration with JD Health signifies a move towards leveraging e-commerce platforms for product distribution [1] Industry Summary - The smoking cessation market is seeing increased attention with the introduction of specialized medications [1] - E-commerce is becoming a vital channel for pharmaceutical companies to reach consumers effectively [1]

Core Viewpoint - Minsheng Health is in the initial stage of launching its new smoking cessation drug, Minsheng Lesuke Tartrate Varenicline Tablets, and is utilizing multiple channels for promotion, including e-commerce platforms and offline pharmacies [1] Group 1: Product Launch and Promotion - The new smoking cessation product is currently available for pre-sale on online platforms such as JD Health and Alibaba Health, with ongoing efforts to launch in offline pharmacies [1] - The company is collaborating with authoritative smoking cessation organizations to conduct educational initiatives aimed at enhancing consumer health awareness [1] Group 2: Future Initiatives and Collaborations - In November 2025, the company plans to co-establish a Health Promotion Professional Committee with the China Tobacco Control and Health Association [1] - The company aims to actively participate in public health services by collaborating with relevant authoritative institutions to advance academic research, standard setting, and health education, contributing to a more comprehensive smoking control system [1]

Core Viewpoint - Minsheng Health is in the initial stage of launching its new smoking cessation product, Minsheng Lesuke, which is currently available for pre-sale on various e-commerce platforms and is gradually being introduced in offline pharmacies [1] Group 1: Product Launch and Promotion - The new product, Minsheng Lesuke (varenicline tartrate), is being promoted through multiple channels including e-commerce platforms and offline pharmacies [1] - The product has officially started pre-sale on platforms such as JD Health and Alibaba Health, with ongoing efforts to list it in offline pharmacies [1] Group 2: Collaboration and Health Education - The company is collaborating with authoritative smoking cessation organizations to conduct educational initiatives aimed at enhancing consumer health awareness [1] - In August 2025, the company, in partnership with the China Smoking Control Association, released the "China Clinical Smoking Cessation Expert Consensus Gold Standard (2025 Updated Version)" [1] - In November 2025, the company co-founded a Health Promotion Professional Committee with the China Smoking Control and Health Association [1] Group 3: Commitment to Public Health - As an active participant in public health services, the company plans to collaborate with relevant authoritative institutions to advance academic research, standard formulation, and health education [1] - The company aims to contribute to the establishment of a more comprehensive smoking control system and support the construction of a healthy China through its pharmaceutical efforts [1]

二是稳步提高医保报销水平。目前，参保居民、职工住院使用报销范围内的药品、耗材等，分别可以享 受到70%左右、80%以上的报销待遇。不断健全门诊慢特病保障政策，统一将恶性肿瘤门诊治疗、肾透 析等门诊维持治疗周期长、医疗费用相对较高的81种慢性病，纳入门诊慢特病保障范围，参照住院报销 政策予以保障，减轻了患者大额门诊医疗费用负担。同时，全面建立普通门诊报销制度，参保群众因头 痛脑热、感冒发烧、腹泻等常见病、多发病发生的日常门诊费用，也能享受报销待遇，比如，城乡参保 居民在基层医疗机构发生的报销范围内的普通门诊费用，可以报销65%，城乡居民诊断为高血压、糖尿 病后，购买降压药、降糖药还能享受到75%的专项报销待遇。 三是完善大病保险和医疗救助政策。统一居民大病保险起付标准，分段报销比例均达到60%以上，一个 医疗年度内最高可报销40万元。特困人员、低保对象、返贫致贫人口、低保边缘家庭成员和防止返贫监 测帮扶对象等困难群众，可享受居民医保个人缴费部分补贴和医疗费用救助，年度救助限额提高到5万 元以上。"十四五"期间，医疗救助对象累计就医4292.02万人次，医保基金支付544.35亿元。 四是持续完善生育医疗费用报销 ...

Core Insights - The overall gross margin changes for the company are primarily influenced by product structure and channel variations, with no cost-related factors affecting gross margin levels [1] - The vitamin and mineral product category represents the highest revenue share for the company, with the main product, 21 Jin Weita multi-element tablets, maintaining a normal gross margin level [1] - The growth rate of vitamin and mineral health foods and functional foods has outpaced that of OTC vitamin and mineral products in recent years, leading to a decline in overall gross margin [1] - The company anticipates that the overall gross margin will gradually improve with the increase in sales scale of new products and the growth of self-operated businesses [1] Product Development and Market Potential - The company has recently obtained approval for varenicline tartrate tablets, which are used for smoking cessation, indicating a strategic move into the smoking cessation market [1] - The domestic approval for varenicline tablets has been obtained in recent years, and sales are gradually increasing, with significant market potential due to the large number of smokers in China [2] - The company expects that the introduction of new products, such as varenicline and minoxidil solution, will involve certain costs but will not significantly impact the overall sales expense ratio and profit situation [2]

证券日报网讯 民生健康11月17日发布公告，在公司回答调研者提问时表示，首先，外包装的设计上， 乐速克采用了暖色调配色，传递积极阳光、轻松愉快的信号，并辅以高辨识度的设计符号，利于用户记 忆；其次，内包装的设计上，乐速克采用双铝高阻隔包装，显著优于传统铝塑泡罩的隔氧遮光性能，保 障药效稳定，同时直接通过内包装设计细节帮助用户理解复杂的服用方式，增加易撕线，方便携带，适 配服用周期内各种出游、差旅等场景，提高用户体验；基于中国患者对服药便利性与耐受性的需求，规 格上，乐速克采用0.5mg小剂量规格，便于吞服并支持灵活减量，同时对老年群体更友好；为帮助用户 营造戒烟环境，公司也配套了独家的科学控烟小程序，可提供用药打卡、进度跟踪与专业随访等全周期 服务，让戒烟更科学、更人性。 （编辑 袁冠琳） ...

证券日报网讯 民生健康11月17日发布公告，在公司回答调研者提问时表示，公司控股股东是杭州民生 药业股份有限公司，民生药业创建于1926年，一直专注于西药制药产业，现阶段致力于四大产品管线： 肝病领域产品线，慢性病领域产品线、眼科及皮肤外用药领域产品线和以血液肿瘤为主的专科领域产品 线。 （编辑 袁冠琳） ...

Core Viewpoint - Minsheng Health announced on November 17 that its vitamin and mineral segment is expected to maintain steady growth due to continuous new product launches in both online and offline channels, as well as deepening offline channel engagement and expanding online channel reach [1] Group 1 - The company will continue to launch new products in both online and offline channels [1] - The company aims to expand product coverage through deepening offline channels and expanding online channels [1]

（编辑 袁冠琳） 证券日报网讯 民生健康11月17日发布公告，在公司回答调研者提问时表示，戒烟药新品——民生乐速 克酒石酸伐尼克兰片目前正处于上市初期阶段，京东健康、阿里健康等线上平台已正式开启预售，线下 药店端的上架工作也在逐步推进中。 ...

Company Overview - The company is Hangzhou Minsheng Health Pharmaceutical Co., Ltd., with the stock code 301507 and the abbreviation Minsheng Health [1] - The company focuses on four main product lines: liver disease, chronic diseases, ophthalmology and dermatology, and hematological oncology [1] Business Growth - The vitamin and mineral segment is expected to maintain steady growth due to the introduction of new products through both online and offline channels [1] - The company is expanding its product coverage by deepening offline channels and expanding online channels [1] New Product Launch - The new smoking cessation drug, Minsheng Lesuke (Varenicline Tartrate), is currently in the initial launch phase, with pre-sales on platforms like JD Health and Alibaba Health [2] - The drug is recommended as a first-line treatment by WHO and clinical guidelines in China and the US [2] Product Features - Minsheng Lesuke features a warm color packaging design to convey a positive message and enhance user recognition [2] - The product uses a dual aluminum high barrier packaging to ensure stability and ease of use, catering to the needs of elderly patients with a small dosage specification of 0.5mg [2] - A unique scientific smoking cessation app is provided to support users throughout their quitting journey [2] Investor Participation - The investor relations activity included participation from various financial institutions, including Dongwu Securities, Xinda Securities, and Huaxia Fund, among others [3][4]