Core Viewpoint - The company is advancing its TSLP monoclonal antibody for the treatment of moderate to severe COPD, with significant progress in clinical trials, positioning it as a leader in the domestic market for similar projects [1] Clinical Development - The Phase II clinical trials are progressing smoothly, and the Phase III clinical trial has completed CDE filing, with preparations underway [1] - The product targets the upstream TSLP pathway to block airway inflammation at its source, showing potential to reduce acute exacerbation rates in patients [1] Competitive Landscape - Currently, only AstraZeneca/Amgen's Tezepelumab has been commercialized, approved solely for asthma, while COPD indications are still in Phase III trials globally [1] - Other domestic companies are exploring similar indications, but the company's focus on COPD and its leading development progress provide a significant competitive edge [1] Market Strategy - The company has a well-established academic promotion system and commercialization channels in the respiratory field, enabling rapid market integration upon product launch [1] - Future plans include accelerating clinical progress, seizing research and registration opportunities, and exploring additional indications to maximize market potential [1]

Core Viewpoint - The company is leveraging AI technology to enhance its drug development process, aiming to improve both research efficiency and innovation capabilities across the entire value chain from drug discovery to commercialization [2] Group 1: AI Application in Drug Development - The company has completed the localization deployment of mainstream AI models, focusing on their application in innovative drug development in the core respiratory field [2] - During the molecular discovery phase, AI is utilized to analyze vast biomedical data, significantly increasing the probability of drug candidates' success by identifying potential cutting-edge targets in areas such as anti-inflammatory, bronchodilation, and respiratory infections [2] - In the clinical trial phase, AI optimizes trial design and enhances data analysis, which helps shorten project timelines and improve the scientific rigor of trial protocols [2] Group 2: Production and Commercialization - On the production side, AI is employed to simulate and optimize process parameters, ensuring cost control during large-scale production [2] - In the commercialization phase, the company uses AI to build a precise patient service system, having already identified health risks for nearly 100,000 chronic disease patients through AI models [2] - The company plans to continue deepening the practical application of AI in various stages of innovative drug development to enhance quality and efficiency [2]

证券日报网2月3日讯 ，健康元在接受调研者提问时表示，Nav1.8抑制剂镇痛药项目目前临床进展符合 预期：Ⅰ期临床试验已顺利完成，现阶段正按计划推进Ⅱ期临床研究。从适应症策略来看，术后镇痛领 域临床需求明确，且观察周期相对较短，因此公司优先选择在这一适应症开展临床探索。这一安排既能 更快响应临床对安全有效镇痛药物的需求，也有助于缩短项目整体研发周期。同靶点的Journavx已成为 美国FDA20多年来首个获批的非阿片类止痛药物，也为公司的后续临床试验设计、市场推广等方面提供 参考。呼吸领域是公司长期聚焦的核心赛道，目前管线布局已具备一定规模和差异化优势。在此基础 上，公司也将围绕未被满足的临床需求，逐步拓展至其他高潜力治疗领域。总体来看，该项目作为公司 在镇痛领域的核心创新布局之一，未来有望成为公司呼吸外板块之外的新的增长点，为公司创新管线的 多元化发展提供新的支撑。 （文章来源：证券日报） ...

Core Viewpoint - The company is making significant progress in the development of its pediatric formulation of Maropitant citrate suspension, which is designed for children aged 2-12 years, aiming to address the treatment needs for influenza in this demographic [2] Group 1: Product Development - The pediatric formulation has received CDE exemption to skip Phase II clinical trials and directly enter Phase III [2] - The first subject has been enrolled as of November 2025, and the company is currently in a critical phase of enrollment and data accumulation for Phase III [2] - The development cycle has been shortened due to the established target mechanism and clinical data from the adult formulation, Maropitant citrate capsules [2] Group 2: Market Strategy - The company is optimizing the production process and supply chain for the pediatric formulation [2] - There is an intention to accelerate the Phase III clinical progress to complete core data and submit a New Drug Application (NDA) as soon as possible [2] - The pediatric formulation is expected to synergize with the adult capsules, aiming for comprehensive coverage of the influenza treatment market across all age groups [2]

证券日报网2月3日讯 ，健康元在接受调研者提问时表示，国际化是公司长期发展的核心战略方向，对 拓展全球市场、提升国际竞争力具有关键意义，也是公司近年来重点推进的工作。在重点项目推进方 面：越南IMP公司收购项目已于2025年5月披露启动，目前正在依照越南相关法律法规稳步推进审批与 交割流程。IMP是越南领先的抗生素企业之一，经营表现稳健，此次收购将为公司东南亚制剂市场布局 进一步夯实基础。印尼工厂项目由公司与Kalbe集团合作建设，目前已在雅加达正式动工，整体进展顺 利。该工厂未来将专注于符合国际标准的特色原料药生产，定位为公司布局欧美市场的重要战略基地。 公司制剂出海布局稳步推进，公司已在菲律宾、荷兰设立子公司，分别搭建面向东南亚及欧盟市场的制 剂销售与注册体系，旗下生产基地也在推进相关地区的GMP认证，为产品注册申报奠定基础。目前下 属子公司生产线已通过马来西亚药监局PIC/SGMP符合性检查，并计划推动多款具有国际竞争力的重点 制剂品种出海，优先落地东南亚市场，并通过与当地战略伙伴合作及越南IMP收购后的平台协同，助力 产品在区域市场的注册与商业化推广。 （文章来源：证券日报） ...

Core Viewpoint - Zhengxiang Pharmaceutical is heavily indebted and is betting its future on a newly approved flu drug, initiating a listing process on the Hong Kong Stock Exchange to alleviate financial pressure and seek funding for development [1] Financial Performance - For the fiscal year 2024 and the first three quarters of 2025, Zhengxiang Pharmaceutical's revenue is projected to be 0 and 355,000 RMB respectively, primarily from drug registration assistance rather than product sales [3] - The company has reported cumulative losses of approximately 1.45 billion RMB for both 2024 and the first three quarters of 2025, with R&D costs of 1 billion RMB and 816.12 million RMB respectively [3] - As of September 2025, the total liabilities of Zhengxiang Pharmaceutical are around 1.26 billion RMB, with a net debt of approximately 956 million RMB and a staggering debt-to-asset ratio of 415.84% [4] Market Competition - The flu antiviral drug market in China is expected to reach 5.7 billion RMB in 2024, with projections to grow to 13.6 billion RMB by 2035, indicating a highly competitive landscape [6] - Zhengxiang Pharmaceutical's core product, Marcilosavir, faces intense competition from established players like Qingfeng Pharmaceutical and Zhongsheng Pharmaceutical, which have already entered the insurance reimbursement list [5][6] - Marcilosavir is priced at 222 RMB per box, similar to Roche's product, but competitors offer lower prices, making it less competitive in terms of cost-effectiveness [6][7] Strategic Initiatives - Zhengxiang Pharmaceutical is attempting to differentiate itself by expanding the indications for Marcilosavir and submitting a New Drug Application (NDA) for treating flu in adolescents [7] - The company aims to leverage different formulations and indications to find new growth opportunities, although it faces significant challenges in gaining market share against established competitors [7]

Core Insights - The company is actively advancing the sales preparation for its influenza drug, Mapasavir capsules (Yilikan®), across various channels, with online sales launched on major e-commerce platforms and offline distribution in key pharmacies and hospitals [1][3] - The development of the pediatric formulation of Mapasavir, suitable for children aged 2-12, is progressing well, having entered Phase III clinical trials in November 2025 [4] - The TSLP monoclonal antibody, targeting moderate to severe COPD, is in Phase III clinical trials and is leading in progress compared to similar projects in China [5][6] - The Nav1.8 inhibitor for pain management has completed Phase I trials and is moving into Phase II, focusing on postoperative pain [7] - The company is leveraging AI technology across the drug development process, enhancing efficiency and innovation capabilities [8] - The company is making significant strides in international expansion, with projects in Vietnam, Indonesia, and the establishment of subsidiaries in the Philippines and the Netherlands [2][9] Sales and Marketing Strategy - The company is enhancing the accessibility of Mapasavir capsules through partnerships with online platforms and academic teams to educate healthcare providers and patients [3] - A comprehensive marketing strategy is being implemented to promote the pediatric formulation of Mapasavir, focusing on optimizing taste and dosage for better adherence [4] Research and Development - The TSLP monoclonal antibody is positioned to address unmet needs in COPD treatment, with a focus on reducing acute exacerbation rates [5][6] - The Nav1.8 inhibitor is strategically targeting a clear clinical need in postoperative pain management, which may shorten the overall development cycle [7] - AI applications are being integrated into various stages of drug development, from molecular discovery to commercial patient services [8] International Expansion - The acquisition of Vietnam's IMP company is progressing, aimed at strengthening the company's position in the Southeast Asian market [2][9] - The construction of a factory in Indonesia is underway, intended to produce specialty active pharmaceutical ingredients for the European and American markets [2][9] - The company is establishing a regulatory and sales framework in Southeast Asia and the EU, with successful GMP compliance checks in Malaysia [2][9]

健康元药业集团 第一期中长期事业合伙人持股计划存续期六个月后满的提示性公告 证券代码：600380 证券简称：健康元 公告编号：临 2026-007 健康元药业集团股份有限公司 关于第一期中长期事业合伙人持股计划存续期六个月后 届满的提示性公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 健康元药业集团股份有限公司（以下简称：本公司）中长期事业合伙人持股计划 之第一期员工持股计划（以下简称：本期持股计划）存续期将于 2026 年 8 月 3 日届满。 根据《关于上市公司实施员工持股计划试点的指导意见》及《上海证券交易所上市公 司自律监管指引第 1 号——规范运作》等相关规定，公司应在本期持股计划存续期届 满前六个月披露提示性公告，现将本期持股计划有关情况公告如下： 一、本期持股计划的基本情况和锁定期 本公司于 2021 年 6 月 29 日召开 2021 年第二次临时股东大会，审议并通过《关于 公司<中长期事业合伙人持股计划之第一期持股计划（草案）>及其摘要的议案》及相 关议案，同意公司实施中长期事业合伙人持股计划之第一期 ...

Core Viewpoint - The company has approved the use of idle self-owned funds for entrusted wealth management to enhance the efficiency of fund utilization and increase returns for the company and its shareholders [2][10]. Investment Overview - **Investment Purpose**: The company aims to improve the efficiency of idle self-owned funds without affecting normal business operations, thereby increasing returns for the company and its shareholders [4]. - **Investment Amount**: The company has set an upper limit of RMB 2.9 billion for investments in wealth management products, which can be rolled over within this limit [5][10]. - **Source of Funds**: The funds will come from the idle self-owned funds of the company and its consolidated subsidiaries [6]. - **Investment Method**: The company will select qualified financial institutions with good credit and financial status to act as trustees, ensuring no related party transactions occur [7]. - **Investment Duration**: The approved investment limit is valid for 12 months from the date of the board's approval [9][10]. Review Procedures - The board of directors held a meeting on January 30, 2026, to approve the proposal for using idle self-owned funds for entrusted wealth management, which does not require shareholder approval [2][10][16]. Impact on the Company - The use of idle self-owned funds for entrusted wealth management will not affect the company's daily operations and is expected to enhance returns for both the company and its shareholders [13].

健康元药业集团 委托理财管理制度 健康元药业集团股份有限公司 委托理财管理制度 （经 2026 年 1 月 30 日九届董事会十六次会议制定） 第一章 总则 第一条 为加强与规范健康元药业集团股份有限公司（以下简称：公司）及 其全资子公司、控股子公司（以下简称：子公司）的委托理财业务管理，防范投 资风险，提高资金使用效率，增加公司收益，保护公司及股东利益，根据《中华 人民共和国公司法》《中华人民共和国证券法》《上海证券交易所股票上市规则》 《上海证券交易所上市公司自律监管指引第 5 号——交易与关联交易》等法律法 规、规范性文件及《健康元药业集团股份有限公司章程》（以下简称"《公司章程》"） 的有关规定，结合公司实际情况，特制定本制度。 第五条 本制度适用于公司及公司下属全资、控股子公司。未经公司审批， 1 / 5 健康元药业集团 委托理财管理制度 下属子公司不得自行进行任何形式的委托理财活动。 第二章 审批权限及决策程序 第二条 本制度所称"委托理财"是指在国家政策允许的情况下，公司及控股 子公司在控制投资风险的前提下，以提高资金使用效率、增加现金资产收益为原 则，委托商业银行、信托公司、证券公司、基金公司 ...