此次京东健康全网首发的盐酸普萘洛尔口服溶液(合美嘉®)，是一种含有普萘洛尔的创新药。2018年， 科福新药获得盐酸普萘洛尔口服溶液原研企业、全球第二大皮肤学护肤品集团法国皮尔法伯(Pierre- Fabre)的认可，产品适应症专利在中国范围内的独占许可授权给武汉科福新药，授权其在中国独家研发 及上市盐酸普萘洛尔口服溶液。这也是我国首个获批上市治疗婴幼儿血管瘤(infantile hemangioma，IH) 的专利新药，填补了国内临床用药空白。 合美嘉®处方辅料与原研药完全一致，适口性、有关杂质纯度水平也接近原研药，并符合相关质量要求 和标准。产品模拟使用2个月，稳定性良好，性状、颜色、pH值、有关物质及含量均无明显变化。此 外，合美嘉®与牛奶、果汁相容性好，可以通过混合给药，使口服液更容易入口，减少患儿用药不便。 1月8日，针对婴幼儿血管瘤的创新型口服治疗药物——盐酸普萘洛尔口服溶液(合美嘉®)在京东健康线 上首发，为患儿治疗提供更多选择。患者通过京东APP搜索"合美嘉"即可在线咨询医生、进行购买。 婴幼儿血管瘤也被称为"天使之吻"，是婴幼儿最常见的良性血管肿瘤，发病率约为2.2%，且呈逐年升高 趋势。其中 ...

1月8日，科瑞德制药旗下原研创新药盐酸替扎尼定口服溶液（商品名：凯莱通®）在京东健康全网首 发，为疼痛与肌肉紧张患者带来全新治疗选择。京东健康也将发挥"新特药线上首发第一站"的领先优 势，帮助合作伙伴将凯莱通®触达更多患者。 区别于传统非甾体抗炎药（NSAIDs）仅聚焦炎症和疼痛本身，凯莱通®通过激动中枢α₂肾上腺素受 体，作用更全面，实现"止痛+肌松"双重作用，有效打破"疼痛—肌紧张—循环障碍—再疼痛"的恶性循 环。 在安全性方面，凯莱通®展现出显著优势。临床研究证实，其可连续使用长达13周以上，远超传统 NSAIDs通常7天的用药限制；且低剂量治疗时不良反应轻微、短暂。与同类肌松药相比，凯莱通®作用 更全面，安全性更高，不影响正常肌力，无全身乏力或跌倒风险；无撤药反应，避免了幻觉、癫痫等严 重副作用。更关键的是，它不伤胃，可保护胃粘膜，与NSAIDs联用时，形成"肌松+抗炎+镇痛"的黄金 组合，协同增效的同时可抵消NSAIDs常见的胃肠道不良反应。 凯莱通®作为科瑞德制药的拳头产品，历经20余年沉淀，始终坚持以患者为中心，现已成为四川知名品 牌和居家必备的常用药。未来，京东健康将联手科瑞德制药，持续推动凯 ...

Core Viewpoint - JD Health has formed a deep collaboration with domestic innovative drug company Kaiqi Xincheng Biopharmaceutical Technology Co., Ltd. to support the clinical cure of chronic hepatitis B patients in China [1] Group 1: Collaboration Details - The partnership will integrate JD Health's advantages in medical services and instant retail to provide comprehensive services for chronic hepatitis B patients [1] - Kaiqi Xincheng's innovative drug, the first globally to use HepDirectTM liver-targeting technology, is being launched exclusively on JD Health's platform [1] Group 2: Product Launch - The drug, named new Shumu® (甲磺酸普雷福韦片), is indicated for the treatment of adult chronic hepatitis B and has received support from national major new drug creation technology projects during the 12th and 13th Five-Year Plans [1] - The product aims to deliver active drugs directly to the liver, enhancing efficacy while reducing toxicity [1] Group 3: Clinical Research - Phase III clinical trial results indicate that the treatment group showed more effective and sustained viral suppression, with significant reductions in HBsAg levels [1]

Core Insights - JD Health has formed a deep collaboration with local innovative pharmaceutical company Kaiqi Xincheng Biopharmaceutical Technology Co., Ltd. to support the clinical cure of chronic hepatitis B patients in China [1][2] - The collaboration will leverage JD Health's strengths in medical services and instant retail, launching two innovative drugs: the first-class drug Adefovir Dipivoxil Tablets (brand name: Xinshumu®) and a zinc-selenium multivitamin soft capsule (brand name: Kaimumu®) [1][2] Drug Launch Details - Adefovir Dipivoxil Tablets (Xinshumu®) are designed for the treatment of adult chronic hepatitis B and have received support from national major new drug creation technology projects during the "12th Five-Year" and "13th Five-Year" plans [1] - Clinical trial results indicate that the drug effectively and persistently inhibits the virus, with a significantly higher proportion of patients achieving HBsAg levels below 1000 IU/mL compared to the control group (P<0.05) and other similar drugs [1] - The zinc-selenium multivitamin soft capsule (Kaimumu®) is formulated for liver nutrition and is rich in nine vitamins and two minerals, designed for easy absorption and convenient daily use [2] Service Integration - JD Health will utilize its ecosystem of "online consultation + pharmaceutical retail + instant delivery" to create a service loop that includes professional supply, online specialist guidance, and rapid delivery, facilitating the widespread availability of the new drugs [2] - Patients can purchase these new drugs through the JD APP or JD pharmacies nationwide with a valid prescription starting immediately [2] Strategic Goals - JD Health aims to enhance the overall efficiency and quality of the pharmaceutical supply chain through ongoing strategic collaboration with Kaiqi Xincheng, optimizing the patient experience [2] - The company is committed to providing high-quality pharmaceutical health products and services, contributing to the "Healthy China 2030" strategic goals by improving the accessibility of innovative drugs [3]

Core Viewpoint - JD Health has formed a deep collaboration with local innovative pharmaceutical company Kaiji Xincheng Biopharmaceutical Technology Co., Ltd. to support the clinical cure of chronic hepatitis B patients in China through integrated resources in medical services and instant retail [1][2]. Group 1: Product Launch and Features - JD Health and Kaiji Xincheng have launched the first-class innovative drug, Mesylate Prefofovir Tablets (brand name: Xinshumu), which targets chronic hepatitis B treatment using HepDirectTM liver-targeting technology [1]. - The drug has received significant support from national major new drug creation technology projects during the "12th Five-Year" and "13th Five-Year" plans, demonstrating its efficacy in delivering active ingredients directly to the liver, enhancing effectiveness while reducing toxicity [1]. - Phase III clinical trial results indicate that the drug shows stronger and more durable viral suppression compared to the control group, with a significantly higher proportion of patients achieving HBsAg levels below 1000 IU/mL (P<0.05) [1]. Group 2: Nutritional Supplement - The Zinc-Selenium Multivitamin Soft Gel Capsules (brand name: Kaimumu) are designed for liver nutrition and suitable for individuals needing supplementation of zinc, selenium, and various vitamins [2]. - This product contains nine vitamins and two minerals, scientifically proportioned and packaged in soybean lecithin capsules for better absorption, with a recommended dosage of two capsules daily [2]. Group 3: Service Integration and Strategy - JD Health will leverage its ecosystem of "online consultation + pharmaceutical retail + instant delivery" to provide a comprehensive service loop, ensuring rapid dissemination of the new drugs to patients [2]. - The collaboration aims to optimize the overall patient service experience and enhance the efficiency and quality of the pharmaceutical supply chain, promoting a win-win development [2]. - JD Health is committed to providing high-quality pharmaceutical health products and services, enhancing the accessibility of innovative drugs to a broader patient population [2][3]. Group 4: Future Outlook - JD Health's value effect as the "first station for new special drug launches" continues to expand, facilitating access to cutting-edge innovative drugs through integrated online and offline channels [3]. - The company plans to collaborate with global pharmaceutical partners to improve the accessibility of new special drugs, contributing to the "Healthy China 2030" strategic goals [3].

Core Viewpoint - JD Health has entered into a deep collaboration with local innovative pharmaceutical company Kaiji Xincheng Biopharmaceutical Technology Co., Ltd. to enhance the treatment options for chronic hepatitis B patients in China [1][2]. Group 1: Partnership and Product Launch - The collaboration aims to integrate JD Health's strengths in medical services and instant retail to support clinical cure goals for chronic hepatitis B patients [1]. - The first launch of the innovative drug, Mesylate Prefofovir Tablets (brand name: Xinshumu®), and Zinc-Selenium Multivitamin Soft Capsules (brand name: Kaimumu®) will be exclusive to JD Health's platform [1][2]. - Mesylate Prefofovir Tablets are designed for adult chronic hepatitis B treatment and have received significant support from national major new drug creation technology projects [1]. Group 2: Clinical Efficacy and Product Features - Phase III clinical trial results indicate that the drug effectively suppresses the virus more powerfully and durably, with a significantly higher proportion of patients achieving HBsAg levels below 1000 IU/mL compared to the control group (P<0.05) [1]. - The Zinc-Selenium Multivitamin Soft Capsules are formulated to support liver health and are rich in various vitamins and minerals, designed for easy absorption [2]. Group 3: Service Integration and Future Plans - JD Health will leverage its ecosystem of "online consultation + pharmaceutical retail + instant delivery" to create a comprehensive service loop for the new drugs, ensuring rapid accessibility for patients [2]. - The company plans to continue deepening strategic collaboration with Kaiji Xincheng to optimize patient service experiences and enhance the overall efficiency and quality of the pharmaceutical supply chain [2][3]. - JD Health aims to contribute to the "Healthy China 2030" strategic goals by improving the accessibility of innovative drugs through partnerships with global pharmaceutical companies [3].

摘要 京东健康已成为中国最大的线上 B2C 零售药店，并积极发展 O2O 和线 下药房业务，构建了"医+药"双轮驱动的互联网医疗生态系统，未来 发展空间广阔。 京东健康背靠京东集团，在供应链和用户导流方面具备显著优势，同时 已成为创新药和新特药的首发平台，吸引了大量优质产品，提升了在患 者和药企中的认可度。 京东健康通过自营 B2C、在线平台及 O2O 业务实现全渠道布局，2025 年上半年即使线下市场不景气，仍实现了超过 20%的收入和利润增长， Non-GAAP 净利润率超过 8%。 中国处方外流和线上化趋势明显，网上药店市场销售额持续增长，B2C 互联网药店市占率显著提升，京东健康自营 B2C 业务通过快速配送和创 新产品巩固品牌优势，活跃用户数量稳步增长至 1.8 亿人次。 京东健康在线平台通过增加第三方商家数量丰富产品供给，O2O 业务覆 盖全国 20 万家药店，覆盖接近 2 亿人群，满足即时买药需求，增强市 场竞争力。 Q&A 京东健康在互联网医疗领域的地位和发展前景如何？ 京东健康是互联网医疗领域的绝对龙头企业，特别是在 AI 时代具备良好的发展 前景。自 IPO 以来，其收入从 300 亿人民 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年12月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 京东健康股份有限公司 呈交日期: 2026年1月7日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06618 | | 說明 | | | | | | | | | 多櫃檯證券代號 | 86618 | RMB | 說明 | | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | | 100,000,000,000 | USD | | 0.0000005 | USD | | 50,000 | | 增加 / 減少 (-) | | | | 0 | | | | USD | | 0 | | 本月底結存 ...

Core Viewpoint - JD Health is expected to maintain strong revenue growth and profit release in Q4 2025, driven by the continuous increase in online penetration of pharmaceutical categories and competitive advantages from its supply chain [1][2]. Group 1: Revenue and Profit Forecast - The company is projected to achieve a total revenue growth of 22.7% year-on-year in Q4 2025, reaching 20.26 billion yuan [1]. - The pharmaceutical category is expected to show robust performance with GMV growth exceeding 30%, while nutrition and medical device categories are anticipated to grow by over 20% and 10%, respectively [1]. - The company is expected to realize a non-IFRS operating profit of 260 million yuan in Q4 2025, corresponding to a non-IFRS operating profit margin of 1.3%, an improvement of 0.4 percentage points year-on-year [1]. - For the full year of 2025, JD Health's revenue is projected to grow by 25% year-on-year to 72.7 billion yuan, with a non-IFRS operating profit of 4.11 billion yuan, reflecting a non-IFRS operating profit margin of 5.7%, an improvement of 1.2 percentage points year-on-year [1]. Group 2: Offline Expansion and AI Integration - The company plans to open over 200 new offline pharmacy stores in the second half of 2025, with 150 new stores expected in Q4 2025, accelerating from over 50 in Q3 2025 [2]. - JD Health's "self-operated pharmacy medical insurance business" has expanded to 8 cities, including the recent addition of Shanghai, which is anticipated to enhance user penetration and performance [2]. - The company is strengthening collaborations with upstream medical brands for new drug launches, showcasing its increasing channel value [2]. - The AI application in healthcare is gaining traction, with the AI doctor "Dai Wei" achieving a satisfaction rate of 98%, enhancing JD Health's internet medical service capabilities [2]. Group 3: Profit Forecast and Valuation - The non-IFRS net profit forecast for 2025-2027 has been raised by 11.6%, 15.6%, and 22.4% to 6.32 billion, 7.51 billion, and 9.01 billion yuan, respectively, primarily due to revised revenue expectations [3]. - The valuation window has shifted to 2026, with a target non-IFRS PE of 30.0x for 2026, compared to a previous value of 35.0x, reflecting a premium over the average PE of comparable companies at 14.7x [3]. - The target price has been adjusted to 77.4 HKD, up from 68.3 HKD [3].

每经AI快讯，京东健康(06618.HK)午前涨超6%，截至发稿涨6.53%，报62港元，成交额4.11亿港元。 （文章来源：每日经济新闻） ...