Core Insights - The company, Tonghua Dongbao, has received approval from the Indonesian Food and Drug Authority for the registration of its insulin aspart injection [1] Group 1 - The insulin aspart injection is a rapid-acting insulin analog that begins to take effect 10-20 minutes after subcutaneous injection [1] - The duration of action for the insulin aspart injection is 3-5 hours, primarily used for controlling postprandial blood glucose levels [1]

Core Viewpoint - Tonghua Dongbao has received the drug registration certificate for insulin aspart injection from the Indonesian Food and Drug Authority, allowing the company to sell this product in Indonesia, which enhances its international market presence and competitiveness [1] Group 1: Product Information - Insulin aspart injection is a rapid-acting insulin analog that takes effect within 10-20 minutes after subcutaneous injection and lasts for 3-5 hours, primarily used to control postprandial blood sugar [1] - Insulin aspart is typically administered immediately before meals and can also be given right after meals if necessary, often in combination with long-acting insulin for comprehensive blood sugar management [1] Group 2: Strategic Implications - The approval of insulin aspart injection by the Indonesian authority signifies that Tonghua Dongbao is now permitted to market this product in Indonesia, which is beneficial for expanding the company's international product line [1] - This development is expected to enhance the company's brand image, facilitate the expansion of international business, accelerate its presence in emerging markets, and improve its competitiveness in the global market [1]

通化东宝药业股份有限公司 2025 年第三次临时股东会会议资料 股票简称：通化东宝 股票代码：600867 二〇二五年十一月三日 1 通化东宝药业股份有限公司 2025 年第三次临时股东会会议资料 目 录 | 2025 | 年第三次临时股东会会议议程 | 3 | | --- | --- | --- | | 议案 | 1：关于取消监事会并修订《公司章程》的议案 | 5 | | 议案 | 2：关于修订和新增公司部分治理制度的议案 | 6 | | 议案 | 3：关于变更会计师事务所的议案 | 7 | 2 通化东宝药业股份有限公司 2025 年第三次临时股东会会议资料 2025 年第三次临时股东会 会议议程 一、会议时间： 现场会议时间：2025 年 11 月 3 日上午 10 时 网络投票时间：网络投票起止时间：自 2025 年 11 月 3 日 至 2025 年 11 月 3 日 （五）休会统计表决结果 统计各项议案的现场表决结果，将现场投票数据上传至上海证券交易所信息 3 （一）主持人宣布会议开始 （二）推选股东会监票人和计票人 通化东宝药业股份有限公司 2025 年第三次临时股东会会议资料 网络公司，下载网络 ...

Core Viewpoint - The company has received approval from the Indonesian Food and Drug Authority for the registration of its rapid-acting insulin aspart injection, which will enhance its international product line and competitiveness in emerging markets [1] Group 1 - The company has been granted a drug registration certificate for insulin aspart injection (registration number: DKI2570600143A1) by the Indonesian Republic Food and Drug Authority [1] - Insulin aspart is a rapid-acting insulin analog that begins to take effect 10-20 minutes after subcutaneous injection and lasts for 3-5 hours, primarily used for controlling postprandial blood sugar [1] - This approval will help the company enrich its international product offerings, improve brand image, and expand its international business [1]

Industry Rating - The report rates the pharmaceutical industry as "Leading" [1] Core Insights - The report emphasizes the significance of the ESMO conference, highlighting the achievements of Chinese pharmaceutical companies and suggesting to focus on catalysts such as policies, academic conferences, and business development in Q4 2025 [1][4] - The report indicates a potential market rebound due to increasing industry catalysts, including various academic conferences and favorable policies [4] - The report recommends continued attention to companies with promising clinical pipelines and their global commercialization potential [4][5] Valuation Summary - The report provides a detailed valuation overview of various companies, with all covered companies rated as "Buy" except for two rated as "Neutral" and one as "Sell" [3] - Notable target prices and current prices for selected companies include: - AstraZeneca: Target price 93.30, Current price 83.87 [3] - BeiGene: Target price 225.00, Current price 188.20 [3] - Innovent Biologics: Target price 48.00, Current price 36.42 [3] - I-Mab: Target price 105.00, Current price 86.10 [3] - China Biologic Products: Target price 9.10, Current price 7.43 [3] Market Performance - The Hang Seng Index rose by 2.3% and the Hang Seng Healthcare Index increased by 2.0% during the week of October 14-21, 2025, ranking fifth among twelve industry indices [4][7] - Sub-industry performance showed CXO leading with a 4.5% increase, followed by Internet medicine and biopharmaceuticals [4][7] Institutional Holdings - As of October 21, 2025, the proportion of domestic institutional holdings through Hong Kong Stock Connect decreased slightly to 22.1%, while foreign institutional holdings also saw a minor decline to 38.6% [34][38] - The report notes that both domestic and foreign investors are increasing their positions in innovative drug companies with clear pipeline values [4][38] Clinical Developments - The report highlights significant clinical trial results presented at the ESMO conference, including: - CanSino Biologics' promising data on its PD-1/VEGF inhibitor [5][6] - Rongchang Biopharmaceuticals' HER2 ADC showing significant survival benefits [5][6] - Kelun-Biotech's results indicating substantial improvements in progression-free survival [5][6] - The report suggests that these developments enhance the global competitiveness of the covered companies [5][6]

Core Insights - The successful shipment of the first batch of Bevacizumab biosimilar to Colombia marks a significant milestone for the company in deepening its presence in the Latin American market [1] Group 1: Overseas Commercialization Strategy - The company has been actively advancing the overseas registration of its collaborative products, receiving industry acclaim for its "multi-country registration" commercial efficiency [2] - The innovative "global selection + global coverage" outbound platform model has led to partnerships with several well-known pharmaceutical companies, securing over twenty key products for overseas commercialization across diverse therapeutic areas [2] - Colombia, as the fourth largest pharmaceutical market in Latin America, has seen a notable increase in the export of Chinese pharmaceutical products, with a 10.4% year-on-year growth in the first quarter of 2025 [2] Group 2: Regulatory and Market Entry - The Colombian pharmaceutical market is a key focus for the company, with the local regulatory body INVIMA's standards closely aligned with international authorities like the FDA and EMA, indicating a high level of market entry rigor [2] - The INVIMA certification is expected to facilitate the introduction of Bevacizumab in other Latin American markets, enhancing the company's overall market penetration strategy [2] Group 3: Collaborative Efforts and Future Plans - The successful commercialization of Bevacizumab overseas is attributed to the deep collaboration between the company and its partner, which ensures stringent production compliance and high product quality [3] - The company plans to continue advancing the registration of Bevacizumab in Latin America and other key markets, while also enhancing its local operational capabilities for other products [3] - The ongoing efforts aim to expand the company's international footprint and provide hope for more patients through access to essential medications [3]

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。 注2：本公司股份全部为无限售条件流通股，因此本公司前10大股东与前10大无限售条件股东一致。 特此公告。 通化东宝药业股份有限公司董事会 2025年10月23日 通化东宝药业股份有限公司（以下简称"公司"、"通化东宝"）于2025年10月17日召开第十一届董事会第 十八次会议，审议通过了《关于以集中竞价交易方式回购公司股份方案的议案》。具体内容详见2025年 10月18日在中国证券报、上海证券报和上海证券交易所网站（www.sse.com.cn）披露的《通化东宝关于 以集中竞价交易方式回购公司股份方案的公告》（公告编号：2025-067）、《通化东宝关于以集中竞价 交易方式回购公司股份的回购报告书》（公告编号：2025-068）。 根据《上市公司股份回购规则》《上海证券交易所上市公司自律监管指引第7号一回购股份》等有关规 定,现将公司董事会公告回购股份决议的前一个交易日（2025年10月17日）登记在册的前十大股东和前 十大无限售条件股东的名称及持股数量、比例情况公告如下: ■ ...

Group 1 - Company announced a share buyback plan to be approved at the board meeting on October 17, 2025 [1] - The top ten unrestricted shareholders hold approximately 9.4 billion shares, accounting for 47.97% of total shares [1] - Major shareholders include Dongbao Industrial Group with about 614 million shares (31.34%) and Tianjin Zhenyi Equity Investment Partnership with about 183 million shares (9.35%) [1] Group 2 - For the first half of 2025, the company's revenue composition shows that the pharmaceutical industry accounts for 98.59%, while other businesses and real estate account for 1.27% and 0.14% respectively [2] - The current market capitalization of the company is 17.2 billion yuan [2]

证券代码：600867 证券简称：通化东宝 公告编号：2025-070 通化东宝药业股份有限公司 关于回购股份事项前十大股东及 前十大无限售条件股东持股情况的公告 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。 特此公告。 注 2：本公司股份全部为无限售条件流通股，因此本公司前 10 大股东与前 10 大无限售条件股东一致。 2025 年 10 月 23 日 通化东宝药业股份有限公司（以下简称"公司"、"通化东宝"）于 2025 年 10 月 17 日召开第十一届董事会第十八次会议，审议通过了《关于以集中竞价 交易方式回购公司股份方案的议案》。具体内容详见 2025 年 10 月 18 日在中国 证券报、上海证券报和上海证券交易所网站（www.sse.com.cn）披露的《通化东 宝关于以集中竞价交易方式回购公司股份方案的公告》（公告编号：2025-067）、 《通化东宝关于以集中竞价交易方式回购公司股份的回购报告书》（公告编号： 2025-068）。 根据《上市公司股份回购规则》《上海证券交易所上市公司自律监管指引第 7 号 ...

Core Viewpoint - Tonghua Dongbao announced the approval of a share repurchase plan by the board of directors on October 17, 2025, highlighting the company's strategy to enhance shareholder value through buybacks [1] Group 1: Shareholder Information - The announcement includes details of the top ten shareholders and top ten unrestricted shareholders as of the trading day before the board meeting, with Dongbao Industrial Group holding 613,823,496 shares, accounting for 31.34% of total shares [1] - Tianjin Zhenyi Equity Investment Partnership holds 183,058,967 shares, representing 9.35% of the total shares [1] - All shares mentioned are unrestricted circulating shares, indicating a consistent ownership structure among the top shareholders [1]