本次再融资方案相较 1 月披露的简易定增方案，核心变化与形成背景是什么？ 1 月披露的简易定增方案拟融资 1.85 亿元，其中 1.3 亿元用于收购南大药业 22.23%股权，5,500 万元用于补充流动资金，补流额度按募集资金 30%上限 安排，同时受限于净资产 20%上限。其后，由于中介机构会计师与律师因 IPO 项目被处罚，按监管要求无法继续承做简易程序再融资项目；公司曾考虑更换 会计师，并在 1 月与交易所、证监局沟通，但鉴于年初更换会计师在市场较为 罕见，易引发外界对财务问题的误读并显著增加监管沟通压力，最终放弃小额 快速再融资路径，转为常规再融资。考虑到常规再融资审核更复杂、周期更长， 公司同步复盘可纳入再融资的研发项目并扩大融资规模，新增"新型整合酶抑 制剂全球多中心临床项目"，使募集资金总额由 1.85 亿元提升至 12.76 亿元 （7.6 亿元的中美两地研发投入相关安排叠加 1.3 亿元南大药业股权收购，并 据补流不超过 30%上限测算补流 3.8 亿元）。 长效管线 085 预计 2026 年 4 月获临床批件，拟通过口服 SCT085 加速 POC 验证；077 正与 MNC 推进专利 ...

Core Viewpoint - The company, Eddie Pharmaceuticals, is making significant advancements in the development of HIV treatments, particularly focusing on the new generation of integrase inhibitors and long-acting preventive medications, while also expanding its human protein business. Group 1: HIV Treatment Development - The company has completed a Phase I/IIa clinical study for its new integrase inhibitor, CC017, showing a significant viral load reduction of 2.34 Log10 copies/mL after 10 days of monotherapy, with over 90% of participants achieving complete viral suppression after 18 days of combination therapy [2] - The company reported a 58.49% year-on-year increase in sales revenue for its HIV new drugs, reaching 129 million yuan in the first half of 2025, indicating successful commercialization efforts [3] - The company is actively participating in academic conferences to promote its products and enhance its brand image, while also focusing on patient education and team optimization to improve treatment quality and service processes [3] Group 2: Long-Acting Preventive Medications - The company is accelerating the development of long-acting HIV medications, responding to national strategies for HIV prevention, with two new long-acting drug patents filed and accepted [4] - The market for long-acting medications is expected to grow due to their lower side effects and better privacy, positioning the company to capture a significant share of the pre-exposure prophylaxis (PrEP) market [4] Group 3: Human Protein Business Expansion - The company has established strong relationships with upstream suppliers and is integrating operations following the acquisition of Nanda Pharmaceutical, which has positively impacted its revenue and profitability [6] - The human protein market is growing, with significant advancements in collaboration with Nanda Pharmaceutical, including the approval of new drug applications for innovative human protein products [7] Group 4: Financial Performance - The company's mid-2025 report shows a 100.19% increase in main revenue to 362 million yuan and a 120.23% increase in net profit to 9.19 million yuan [8] - The second quarter of 2025 saw a revenue increase of 86.71% year-on-year, indicating strong financial performance despite some negative net profit figures [8]