振东制药：创新药突破与市场回暖共振，多维布局开启高质量发展新航道

Core Viewpoint - The recent surge in the stock price of Zhen Dong Pharmaceutical is attributed to significant advancements in innovative drug development, product pipeline implementation, and corporate governance optimization, which are gaining recognition in the capital market [1][4]. Group 1: Innovative Drug Development - Zhen Dong Pharmaceutical's subsidiary, Zhen Dong Anxin Biotech, received formal acceptance from the National Medical Products Administration for its finasteride tablet generic drug application, targeting common conditions such as androgenetic alopecia and benign prostatic hyperplasia, enhancing the company's position in the hair health sector [1]. - The company achieved a milestone in gynecological innovative drugs with the acceptance of its new drug application for a vaginal probiotic capsule, which utilizes an innovative mechanism to restore vaginal microecology, showing superior cure rates and safety compared to traditional antibiotics [2]. - Ongoing research in oncology includes projects for gastric cancer (ZD09), breast cancer bone metastasis (ZDH02), and atopic dermatitis (SH003), alongside a newly introduced epinephrine nasal spray for out-of-hospital intervention in allergic shock, which has secured core patents in Europe and the US [2]. Group 2: Consumer Health and Brand Development - Zhen Dong Pharmaceutical is actively promoting its "Dafeixin" brand through social media platforms and partnerships with chain pharmacies, achieving a 31.34% year-on-year increase in net profit to 12.43 million yuan in Q3 2025, reflecting the profitability of its high-value products [3]. - The company has also received approval for the "Dafeixin" cypress leaf anti-hair loss shampoo, further expanding its product matrix in hair health [3]. Group 3: Corporate Governance and Structural Improvements - The company is enhancing its governance by implementing cumulative voting in board elections to protect minority shareholders' rights and improve decision-making processes [3]. - Recent share purchases by board member Lei Zhenhong demonstrate confidence in the company's long-term value, with an acquisition of 1,600 shares at an average price of 5.99 yuan per share [3]. Group 4: Strategic Transformation - Zhen Dong Pharmaceutical is transitioning from a traditional "generic + Chinese herbal medicine" model to a dual-engine strategy focused on "innovative drugs + consumer health," laying a solid foundation for long-term development and high-quality growth [4].