Group 1: Company Overview and Investor Relations - The investor relations activity involved a telephone conference with over 130 participants from various financial institutions [2][3]. - Key personnel included the Chairman and Senior Vice President of the company, who addressed investor inquiries [3]. Group 2: Product Development and Clinical Trials - The "AK1012 project" for treating respiratory syncytial virus infections has completed Phase I clinical trials [3]. - "AK2017 injection" has successfully completed Phase II clinical trial enrollment, with discussions for Phase III trials underway [3]. - "HuA21 injection," targeting HER2, has completed Phase Ib/II clinical trials and is preparing for Phase III based on interim analysis [3][10]. - "AK2024 injection," another HER2-targeted drug, has received clinical approval and shows promising preclinical results [3]. - "HK010 injection," a dual-target PD-L1*4-1BB antibody, is progressing well in Phase I trials [3]. Group 3: Collaborations and Innovations - Collaboration with Afana Company on "AFN0328 injection" for HPV precancerous lesions is in Phase I trials, with plans for further mRNA drug development [4]. - The company’s affiliate, Boshengji, has developed the first CAR-T cell therapy targeting CD7, which has been included in a list of breakthrough therapies by the CDE [4][9]. - The "recombinant L-IFN adenovirus injection" developed by Yuansong Bio has received clinical trial approvals from both CDE and FDA for advanced solid tumors [4]. Group 4: Market Potential and Strategic Partnerships - The long-acting growth hormone "Transcon" is expected to outperform existing products, with a significant market opportunity projected at over 4 billion CNY in 2025 for follicle-stimulating hormone [8]. - The partnership with Baoyi Pharmaceutical for "SJ02," a long-acting follicle-stimulating hormone, aims to enhance treatment options in assisted reproductive technology [8]. - The PA3-17 injection has shown an objective response rate (ORR) of 84.6% and a complete remission rate of 95% in clinical trials [9]. Group 5: Future Plans and Regulatory Compliance - The company is actively building production lines compliant with FDA and EU standards, aiming for international market commercialization [11]. - Future clinical plans include launching Phase II trials for PA3-17 and exploring international registration based on Chinese clinical data [9].

Group 1: Company Strategy and Goals - The overall business goal for 2025 is to achieve restorative growth and maintain stable development [3] - The company aims to enhance the sales proportion of growth hormone water injections and expand the indications for growth hormone [3] - The company plans to accelerate the production capacity of the cancer drug Trastuzumab (Ansatin) and deepen brand building and market expansion [3] Group 2: Product Development and Clinical Trials - The clinical trial for "AK2017 Injection" (recombinant human growth hormone-Fc fusion protein injection) has successfully completed Phase II enrollment, with discussions for Phase III trial already held [3] - The company is actively promoting clinical trials for interferon spray and inhalation agents, targeting respiratory infections and gynecological diseases [3] - The "AK1008 Project" (human interferon α2b spray) is in Phase II trials for treating viral infections in children [3] Group 3: Competitive Landscape - Currently, there are 5 companies producing short-acting growth hormones, and several companies are expected to launch long-acting growth hormones [4] - The market for growth hormones is competitive but the overall pricing system remains stable [4] - The strategic partnership with Weisheng Pharmaceutical aims to cover the long-acting growth hormone market and enhance the company's competitiveness in children's growth and development [7] Group 4: Innovation and Collaborations - The company is developing several innovative drugs, including "HuA21 Injection" targeting HER2, which has shown promising safety and efficacy in early trials [4] - Collaboration with Afana Company on "AFN0328 Injection" for HPV precancerous lesions is in Phase I trials, with plans for further mRNA drug development [5] - The company is also involved in CAR-T cell therapy research through its investment in Boshengji Company, which has received implicit approval for clinical trials [5] Group 5: Market Expansion and Future Plans - The company is preparing to expand its international market presence by building FDA and EU-compliant production lines and engaging with foreign distributors [8] - The exclusive agency agreement with Baoji Pharmaceutical for the innovative drug "SJ02" aims to enhance the company's product matrix in the assisted reproduction field [8] - The company anticipates that the launch of long-acting growth hormones and long-acting follicle-stimulating hormones will provide new growth points for its business [8]