3倍医药“牛股”突报亏损，紧急公布利好？

Core Viewpoint - The company Yipinhong reported a significant loss in the first half of the year, despite a previous surge in stock price driven by the anticipation of a new gout treatment drug. The company also voluntarily disclosed progress on the drug's clinical trials shortly after the financial report was released [1][3]. Financial Performance - In the first half of 2025, Yipinhong achieved revenue of 584 million yuan, a year-on-year decline of 36% [3]. - The net profit attributable to the parent company was -73.54 million yuan, compared to a profit of 46.46 million yuan in the same period last year. The adjusted net loss, excluding non-recurring items, expanded to 108 million yuan [3]. - The company's sales expenses for the first half of 2025 amounted to 208 million yuan, accounting for 35.6% of revenue, showing a rising trend compared to 34% in the first quarter of 2025 and 34.86% for the entire previous year [3]. Drug Development Progress - Yipinhong announced that the global Phase III clinical trial for its gout drug AR882 has completed the enrollment of all participants. This drug is developed in collaboration with Arthrosi and aims to treat gout by inhibiting uric acid reabsorption [5]. - The clinical trial consists of two independent parallel studies, REDUCE 1 and REDUCE 2, with the completion of participant enrollment marking a significant milestone for the drug's development [5]. Company Overview - Yipinhong is a biopharmaceutical company that integrates drug research and development, production, and sales, focusing on pediatric and chronic disease medications. The company was listed on the Growth Enterprise Market in 2017 [6]. Market Capitalization - As of August 21, Yipinhong's market capitalization exceeded 30 billion yuan, reaching 31.49 billion yuan [7].