Core Viewpoint - The company, Kaiyin Technology, has voluntarily withdrawn its drug registration application for Pegylated Interferon α-2 Injection, which was intended for use in treating chronic hepatitis B in adults, due to the National Medical Products Administration's latest review recommendations [1][3]. Group 1: Drug Registration Withdrawal - The decision to withdraw the drug registration application was made after careful consideration and aims to further supplement clinical case studies before potentially resubmitting the application [3]. - The withdrawal will result in a full impairment provision for the related development expenses, reducing the company's profit for 2025 by 110 million yuan [3]. Group 2: Financial Impact - The withdrawal of the drug registration application is not expected to affect the sales of the company's existing products but will impact the operating performance for 2025 [3]. - Following the announcement, the company's stock price fell by 13.23%, closing at 22.76 yuan per share on January 21 [4]. Group 3: Company Financial Performance - In the first three quarters of 2025, the company reported revenues of 927 million yuan, a year-on-year decrease of 8.3%, and a net profit attributable to shareholders of 103 million yuan, down 5.1% [7]. - The operating cash flow for the same period was 38.01 million yuan, reflecting a year-on-year increase of 16.0% [7]. - As of the end of the third quarter, the company's total assets were 2.868 billion yuan, an increase of 9.6% compared to the end of the previous year, while the net assets attributable to shareholders decreased by 2.6% to 1.796 billion yuan [7].

Group 1 - The company's stock price has experienced an abnormal fluctuation, with a cumulative increase of 30% over three consecutive trading days (July 17, July 18, and July 21, 2025) [1] - Most of the company's self-developed new drug projects are currently in various stages of preclinical development, indicating significant uncertainty in their progress [1] - There is a major uncertainty regarding the potential for external transfer of these drug projects in the future [1]