Jointown(SH:600998) Jing Ji Guan Cha Wang·2026-02-12 05:20Core Viewpoint - 九州通's subsidiary received approval for the listing application of Betahistine Dihydrochloride Tablets, which are used for Meniere's disease and cerebral vascular diseases, indicating potential growth in product offerings to meet aging population needs [1] Recent Events - 九州通 announced that its controlling shareholder, Chuchang Investment, has prematurely released the pledge of 11.3 million shares (2.46% of its holdings), while a related party, Shanghai Hongkang, pledged 11.7 million shares (1.08% of its holdings). As of the announcement date, the total pledged shares by Chuchang Investment accounted for 57.29% of its holdings and 26.03% of the company's total share capital [2] - The company is positioned as a digital service provider in the AI medical ecosystem, supporting the Ant Group's supply chain, with over 50 million orders in 2025, reflecting a 180% year-on-year increase [2] Stock Performance - As of February 12, 2026, 九州通's stock price was 5.21 yuan, with a cumulative decline of 1.14% over the past five days and a price fluctuation of 2.66%. The net outflow of main funds was 11.51 million yuan, with a turnover rate of 0.23%. The technical analysis indicates the stock is in a consolidation phase, with a 20-day moving average of 5.31 yuan, a Bollinger Band resistance level of 5.56 yuan, and a support level of 5.08 yuan [3] Institutional Viewpoints - The market is focusing on the integration of AI medical technology and pharmaceutical distribution digitalization. 九州通 is enhancing supply chain efficiency through smart warehousing and blockchain technology, with its pharmaceutical industrial business generating 2.3 billion yuan in revenue in the first three quarters of 2025, a year-on-year increase of 9.93%. However, there is uncertainty regarding the approval results for the newly accepted drugs [4]