Core Viewpoint - The company has successfully completed the sale of its stake in the US company Arthrosi and is actively pursuing its share repurchase plan [1][2]. Recent Events - The sale of the stake in Arthrosi has been finalized, with the company receiving an initial payment of approximately $119 million (around 824 million RMB) [2]. - The company will fulfill its information disclosure obligations regarding subsequent developments related to the transaction [2]. Company Status - The share repurchase plan is ongoing, with a total of 2.7734 million shares repurchased, accounting for 0.61% of the total share capital, and a total expenditure of approximately 96.9267 million RMB [3]. - The highest repurchase price was 37.85 RMB per share, while the lowest was 32.15 RMB per share, in line with the established plan [3]. Related Transactions Progress - The company’s extraordinary general meeting approved the expected daily related transactions for 2026, with a total not exceeding 104.35 million RMB, involving transactions with related parties such as Runer Eye Hospital and Yunrun Biotechnology [4].

一品红公告称，预计2025年归属于上市公司股东的净利润为-4.42亿元至-3.13亿元，较上年同期增长 18.22%至42.07%；扣非净利润为-4.75亿元至-3.36亿元，较上年同期下降16.35%至64.26%。业绩变动因 产品销售及毛利率下降、折旧摊销和研发投入增加等。此外，参股公司Arthrosi拟被Sobi美国以9.5亿美 元首付及最高5.5亿美元里程碑付款收购100%股权，预计2026年一季度完成交割；控股股东子公司将 Arthrosi9.07%股权无偿给予公司。 ...

根据公告，Sobi美国拟以9.5亿美元首付款及最高达5.5亿美元的里程碑付款收购Arthrosi的100%股权。 公司年初至11月30日与该关联人的日常关联交易实际发生总额为5738万元，年度预计总金额为1.9亿 元。独立董事和审计委员会均表示该承诺事项不会损害公司及中小股东的利益。 近日，一品红（300723）发布公告称，控股股东广东广润集团有限公司承诺将其子公司 GuangrunHealthIndustry(HongKong)Co.Limited持有的Arthrosi的9.07%股权无偿、无条件地给予公司，以 支持公司的研发创新发展。 此次交易被认定为偶发性关联交易，公司将单方面获得利益而不支付对价，不影响公司的独立性。 ...

Core Viewpoint - The company Yipinhong (300723) is set to receive a 9.07% stake in Arthrosi from its controlling shareholder, Guangdong Guangrun Group, to support its ongoing research and development efforts, coinciding with a significant acquisition deal involving Arthrosi and Sobi USA valued at approximately $9.5 billion in upfront payments and potential milestone payments [1][2]. Group 1 - The controlling shareholder will transfer its 9.07% stake in Arthrosi to the company without any conditions, based on the net proceeds from the E-round investment [1][2]. - Arthrosi is in the process of signing an acquisition agreement with Sobi USA, which includes an upfront payment of $9.5 billion (approximately 67.13 billion RMB) and up to $5.5 billion (approximately 38.87 billion RMB) in milestone payments [1]. - The E-round post-investment valuation of Arthrosi is reported to be $383 million [2]. Group 2 - The controlling shareholder expressed strong confidence in the acquisition of Arthrosi and the market potential for the gout innovation drug, AR882, in the Greater China region [2]. - The transfer of the stake is aimed at enhancing the company's innovation capabilities and fostering the development of more innovative drugs to benefit patients [2]. - The move is expected to bolster investor confidence in the company's ongoing and future research initiatives [2].

Core Viewpoint - The company received a commitment from its controlling shareholder to support its development, particularly in relation to the acquisition of Arthrosi and the innovative gout drug AR882 in the Greater China market [1] Group 1 - The controlling shareholder, Guangrun Group, plans to transfer 9.07% of its stake in the U.S. company Arthrosi, held through its subsidiary Guangrun Health, to the company without any conditions or compensation [1] - This transfer is based on strong confidence in the acquisition of Arthrosi and the market potential of the innovative drug AR882 [1]

Core Viewpoint - The company received a commitment letter from its controlling shareholder, Guangdong Guangrun Group, expressing strong confidence in the acquisition of Arthrosi and the market potential of its gout innovation drug, AR882, in Greater China [1] Group 1 - Guangrun Group anticipates that the company will continue to innovate and develop more drugs to benefit patients, thereby supporting the company's stable and healthy growth [1] - The commitment includes a promise that after the completion of the acquisition, Guangrun Group will transfer its 9.07% stake in Arthrosi, valued at $383 million post-E round investment, to the company without any conditions [1]

Core Viewpoint - The company has received a commitment from its controlling shareholder, Guangrun Group, to support its development by transferring a 9.07% stake in Arthrosi, valued at $383 million post-Series E funding, to the company without any conditions or compensation [1] Group 1 - The board of directors approved the proposal regarding the support commitment from the controlling shareholder and the related party transaction [1] - The transaction is related to the acquisition of Arthrosi and the company's innovative gout drug, Deutepatide, in the Greater China market and for priority global supply [1] - The related party transaction has been exempted from requiring shareholder meeting approval, with related directors abstaining from the vote [1]

Core Viewpoint - The stock price of Yipinhong has significantly declined following the announcement of the sale of its stake in Arthrosi, which is developing the gout drug AR882, despite the company retaining 100% rights to AR882 in China [1][5][6]. Group 1: Stock Performance - Yipinhong's stock price has dropped nearly 30% over three trading days following the announcement of the stake sale [3][4]. - On December 17, the stock opened down 1.53% and experienced a decline of nearly 5% during the day, closing at 33.34 CNY per share, down 0.24% [3][4]. - The stock hit a 20% limit down on December 15, prompting the company to announce a share buyback plan of 100 to 200 million CNY to stabilize investor confidence [4][6]. Group 2: Stake Sale Details - Yipinhong plans to sell its 13.45% stake in Arthrosi to Sobi for a total of 9.5 billion USD upfront and up to 5.5 billion USD in milestone payments [3][5]. - Following the sale, Yipinhong will no longer hold any equity in Arthrosi but will retain 100% market rights for AR882 in China and priority for global supply [5][6]. Group 3: Financial Performance - Yipinhong reported a revenue of approximately 1.45 billion CNY last year, a decrease of 42.07%, resulting in a net loss of about 540 million CNY [7]. - For the first three quarters of this year, the company recorded a revenue of approximately 814 million CNY, down 34.35%, with a net loss of about 136 million CNY [7]. - The company aims to focus on innovation and has established multiple drug development platforms, with plans to submit 1-2 new drug applications annually [8]. Group 4: Product Focus - AR882 is a selective URAT1 inhibitor aimed at treating gout and related conditions, currently in critical phase III clinical trials [5][6]. - Yipinhong's innovation strategy includes developing drugs that meet unmet clinical needs, with a focus on best-in-class and first-in-class products [8].

Core Viewpoint - The stock price of Yipinhong (300723) has experienced a significant decline following the announcement of the sale of its stake in Arthrosi, which is developing the gout drug AR882. Despite retaining 100% rights to AR882 in China, investors reacted negatively, perceiving the sale as a loss of a beneficial project [2][8][9]. Group 1: Stock Performance - Yipinhong's stock price fell nearly 30% over three trading days following the announcement of the Arthrosi stake sale [5][7]. - On December 17, the stock opened down 1.53% and hit a low of nearly 5% during the day, closing at 33.34 yuan per share, down 0.24% [5][6]. - The stock hit a limit down of 20% on December 15, prompting the company to announce a share buyback plan of 100 to 200 million yuan to stabilize investor confidence [6][7]. Group 2: Transaction Details - Arthrosi is a subsidiary in which Yipinhong holds a 13.45% stake through its wholly-owned subsidiary [6]. - The acquisition agreement with Sobi USA involves a $950 million upfront payment (approximately 6.713 billion yuan) and up to $550 million (approximately 3.887 billion yuan) in milestone payments [5][6]. Group 3: Product Focus - AR882 is a selective urate transporter (URAT1) inhibitor aimed at treating gout and related conditions, currently in critical Phase III clinical trials [8][9]. - Yipinhong retains 100% market rights for AR882 in China and has priority for global supply rights post-transaction [8][9]. Group 4: Financial Performance - Yipinhong is facing significant financial pressure, with projected revenues for 2024 expected to drop by 42.07% to approximately 1.45 billion yuan, resulting in a net loss of about 540 million yuan [11]. - For the first three quarters of this year, the company reported revenues of approximately 814 million yuan, a decline of 34.35%, with a net loss of about 136 million yuan [11]. Group 5: Future Outlook - The company aims to submit 1-2 innovative drug applications annually, focusing on best-in-class or first-in-class products to meet unmet clinical needs [12].

Core Viewpoint - The stock price of Yipinhong (300723) has experienced a significant decline after the announcement of the sale of its stake in Arthrosi, which is developing the gout drug AR882. Despite retaining 100% rights to AR882 in China, investors reacted negatively, perceiving the sale as a loss of a beneficial project [1][5][7]. Group 1: Stock Performance - Yipinhong's stock price fell nearly 30% over three trading days following the announcement of the stake sale [3][4]. - On December 17, the stock opened down 1.53% and hit a low of nearly 5% during the day, closing at 33.34 yuan per share, down 0.24% [3][4]. - The stock hit a limit down of 20% on December 15, prompting the company to announce a share buyback plan of 100 to 200 million yuan to stabilize investor confidence [4]. Group 2: Stake Sale Details - Yipinhong plans to sell its stake in Arthrosi, which is developing AR882, to Sobi for a total of up to $15 billion (approximately 106 billion yuan) [3][6]. - Yipinhong holds a 13.45% stake in Arthrosi through its subsidiary, and after the sale, it will no longer hold any equity in Arthrosi [3][6]. Group 3: Financial Performance and Future Outlook - Yipinhong is facing significant financial pressure, with projected revenues for 2024 expected to drop by 42.07% to approximately 1.45 billion yuan, resulting in a net loss of about 540 million yuan [8]. - The company reported a net loss of 136 million yuan in the first three quarters of this year, continuing its trend of financial difficulties [8]. - Yipinhong aims to focus on innovation, with plans to submit 1-2 new drug applications annually, targeting unmet clinical needs and global commercialization [9].