Joincare(SH:600380) Zheng Quan Zhi Xing·2025-08-04 00:10Group 1 - The core viewpoint of the article highlights the recent research conducted by a well-known private equity firm, Hongchou Investment, on a listed company, focusing on its innovative transformation strategy and product pipeline [1] - The company, Jian Kang Yuan, is advancing its prescription drug segment, concentrating on key therapeutic areas such as respiratory, digestive, mental health, reproductive assistance, and pain relief, with over 20 first-class innovative drugs in development [1] - The company plans to submit the application for the Marpacisavir capsule for market approval in August 2024, and has received clinical trial approval for a pediatric dry suspension formulation [1] Group 2 - The company is conducting Phase II clinical trials for TSLP monoclonal antibodies targeting moderate to severe COPD in China, and has completed Phase I trials for PREP inhibitors and Nav1.8 inhibitors, moving towards Phase II trials [1] - A systematic innovation drug layout for COPD has been established, creating three pathways for solutions, including a pediatric formulation that enhances medication acceptance based on weight [1] - Internationalization is a key strategic direction, with the establishment of a new sales subsidiary, collaboration with Kalbe Group for factory construction, and acquisition of the Vietnamese pharmaceutical company IMP [1] Group 3 - Over the past five years, the company has completed share buybacks totaling 2.7 billion, and has introduced a new annual dividend plan with increased cash dividend efforts [1]