创新研发赋能，珍宝岛药业将逐步迈入收获期

Group 1 - The core business of the company is traditional Chinese medicine, which has laid a solid foundation for its growth, with key products covering various medical terminals in China [2][3] - The company is expanding into the biopharmaceutical sector, with its investment in Zhejiang Teruisi Pharmaceutical Co., Ltd. entering a value realization phase, particularly with the ADC drug TRS005 receiving breakthrough therapy designation [1][5][7] - The company has launched a new innovative Chinese medicine product, Qingjiang Hewei Granules, which targets a complex condition with limited treatment options, potentially opening a market worth over 1 billion yuan [3][4] Group 2 - The biopharmaceutical market is experiencing significant growth, with ADCs being recognized as a promising platform product, projected to exceed $16.4 billion globally by 2026 [5] - The company has made strategic investments in the biopharmaceutical field, with Teruisi's TRS005 focusing on unmet clinical needs in non-Hodgkin lymphoma, marking a significant step in the company's transformation [6][7] - The company is also advancing in the chemical drug sector, with its independently developed raw material for an antihistamine drug receiving regulatory approval, indicating a strong market presence in a high-barrier segment [8][9] Group 3 - The company's dual-track strategy in chemical drugs, focusing on both raw materials and formulations, has been successfully implemented, enhancing its competitive position in the market [9][10] - The combination of traditional Chinese medicine, biopharmaceuticals, and chemical drugs creates a diversified growth strategy for the company, ensuring a more certain trajectory for future performance [10]