Chimin(SH:603222) Xin Lang Cai Jing·2025-09-29 11:57Core Viewpoint - Jimin Health (603222.SH) is transitioning from a focus on large-volume infusion, medical devices, and healthcare services to becoming an innovative pharmaceutical company, marked by the acceptance of a clinical trial application for DB006 on September 26, 2025 [1]. Group 1: Company Transition - Jimin Health's subsidiary, Boao International Hospital, received a clinical trial acceptance notice for DB006, a oncolytic adenovirus injection, indicating the company's first step towards becoming an innovative drug enterprise [1]. - The registration classification of DB006 is as a Class 1 therapeutic biological product, signifying a significant shift in Jimin Health's business model since its establishment in 1996 [1]. Group 2: Market Context - In 2020, China reported 4.57 million new cancer cases and 3 million cancer deaths, with high incidence and mortality rates for liver, stomach, esophageal, and cervical cancers [1]. - Breast cancer has the highest incidence rate, followed by lung and colorectal cancers, with lung cancer remaining the leading cause of cancer-related deaths [1]. Group 3: Oncolytic Virus Therapy - Oncolytic virus therapy is recognized as a promising new type of cancer treatment, characterized by high efficiency in killing tumor cells, specificity, safety, low side effects, and cost-effectiveness [2]. - Currently, five oncolytic virus drugs have been approved globally, with approximately seven oncolytic virus drugs in clinical trials in China, most in Phase I/II [2]. Group 4: Product Details - DB006 is designed for the treatment of advanced malignant solid tumors, utilizing genetic engineering to enhance tumor-specific replication and selectively infect tumor cells [2]. - In preclinical models, DB006 demonstrated over 70% tumor suppression in colon cancer models and complete tumor remission in non-small cell lung cancer models [2]. Group 5: Financial Performance - In the first half of 2025, Jimin Health reported total revenue of 366 million yuan, a decrease of 21.3% year-on-year, with a net loss attributable to shareholders of 52.7 million yuan [3]. - The company attributed its losses to reduced revenue and profit from medical devices due to U.S. tariff policies and inventory write-downs related to specific products [3].