调研速递|盘龙药业接受华福证券等3家机构调研，聚焦业务增长与发展规划

Core Viewpoint - The company is actively expanding its traditional Chinese medicine (TCM) granule business, innovating drug development, optimizing dividend policies, and enhancing grassroots market strategies to drive growth and improve investor returns [1][2][3][4][5]. Group 1: TCM Granule Business - The TCM granule business is in its early stages but is steadily expanding, with the completion of an intelligent production line by the end of 2024 and the establishment of a business development center [2]. - As of now, the company has completed the research and registration of 310 products, with listings in 18 provinces, focusing on expanding from Shaanxi province [2]. Group 2: Innovative Drug Development - The company is making progress in innovative drug development, with the modified TCM new drug PL JT004 entering the CDE clinical acceptance stage, and the chemical generic drug PL-JT001 completing bioequivalence testing [3]. - Additional chemical generics (PLJT - 002/003) are set to initiate IND applications within the year, while 1.1 class innovative TCM drugs are advancing through preclinical and phase II work [3]. - The company aims to cultivate major products through a tiered pipeline layout, enhancing product competitiveness [3]. Group 3: Dividend Policy - The company emphasizes investor returns and has approved a three-year dividend return plan for 2025-2027, balancing current shareholder returns with long-term development through management innovation and profit quality improvement [4]. Group 4: Grassroots Market Development Strategy - The company is focusing on grassroots market development while maintaining high coverage in tiered hospitals, employing a multi-faceted marketing model that integrates products, academia, terminals, and branding [5]. - Currently, the products cover over 20,000 grassroots medical institutions and more than 30,000 retail pharmacies, establishing a dual-driven model of medical and retail [5].