剥离非核心业务，派格生物解散旗下研发附属公司

Core Insights - The company, PegBio, announced the voluntary dissolution of its non-wholly owned subsidiary, Shanghai Maiji Biotechnology Co., Ltd., to focus on its core business and streamline operations [1] - This strategic move is seen as a response to intensified industry competition and internal development pressures, aiming to divest non-core assets and concentrate on key product pipelines [1] - PegBio's core product, PB-119, is a GLP-1 receptor agonist targeting Type 2 Diabetes Mellitus (T2DM) and obesity, with its new drug application accepted by the National Medical Products Administration in September 2023 [2][3] Company Overview - PegBio was established in 2008 and specializes in innovative therapies for chronic diseases, particularly in the metabolic disorder field [1] - The company currently has six candidate products targeting various diseases, including T2DM, non-alcoholic fatty liver disease, obesity, Alzheimer's disease, opioid-induced constipation, and congenital hyperinsulinemia [1] - PegBio went public on the Hong Kong Stock Exchange in May 2023 after a previous unsuccessful attempt to list on the STAR Market in 2022 [2] Financial Performance - PegBio reported losses of CNY 279 million, CNY 283 million, and CNY 93.62 million for the years 2023, 2024, and the first half of 2025, respectively [2] - The company's future business and financial outlook heavily depend on the successful approval and commercialization of PB-119 [3] Market Competition - The market for T2DM and obesity treatments is highly competitive, with numerous GLP-1 based therapies available in China and the U.S. [3] - As of February 28, 2025, 16 GLP-1 receptor agonists have been approved in China, with over 20 candidates undergoing clinical trials for T2DM treatment [3]