亚宝药业表示，根据SY-009的Ⅱ期临床研究结果显示，其主要疗效指标和次要疗效指标虽然提示有量效 关系，但主要疗效终点未达到，如果补充增加Ⅱ期临床剂量探索试验再开展Ⅲ期临床试验所需时间较 长，后续研发投入巨大且存在较大不确定性；同时SY-009针对功能性便秘的Ⅱ期临床研究尚未开展，后 续研发也存在较大不确定性，公司经审慎考量了SY-009继续开发的投入风险和未来的市场价值后，为合 理配置公司研发资源，聚焦研发管线中的优势项目，经公司研究院科学委员会提议，公司总裁办公会审 议并报经公司董事长批准，决定终止SY-009的临床研究开发工作。 此外，基于SY-009项目已终止临床研究开发且相关专有技术尚未找到潜在可出售对象的实际情况，出于 谨慎性考虑，公司对SY-009项目研发资本化金额5579.33万元全额计提资产减值准备。 北京商报讯（记者 丁宁）9月22日晚间，亚宝药业（600351）发布公告称，公司对SY-009研发项目（以 下简称"SY-009"）进行了审慎评估，综合项目进展情况、继续开发的投入风险和未来的市场价值等多种 因素，为合理配置公司研发资源，聚焦研发管线中的优势项目，公司决定终止SY-009的临床 ...

Group 1: Financial Performance - In the first half of 2025, the company achieved a revenue of 223.91 million yuan, a year-on-year increase of 3.36% driven mainly by the rebound in sales of R-lipoic acid and continuous growth in the raw material drug, Eriocoxib [5] - The net profit attributable to shareholders was 43.08 million yuan, marking a turnaround from loss to profit, primarily due to cost reduction and efficiency improvements in core business operations [5] - The company's accounts receivable at the end of the period showed a significant decrease compared to the beginning of the year, indicating effective measures in receivables management [5] Group 2: Business Strategy and Development - The company plans to enhance its core traditional businesses, focusing on lipoic acid, carnosine, and phosphatidylcholine, while optimizing production processes and expanding application fields [3][4] - A new project, "Fujilai (Shandong) Specialty Raw Materials and Intermediates CMO/CDMO Construction Project," is expected to be completed by June 2026, which will support the transformation of R&D results and expand the product pipeline [4] - The company aims to mitigate product concentration risks by diversifying its product structure and focusing on high-potential products in the raw materials and intermediates market [4] Group 3: Research and Development - R&D expenses decreased in the first half of 2025 due to the completion of high-cost commissioned research projects and optimization of resource allocation [6] - The company is committed to balancing cost control with R&D investment to ensure future product innovation and market competitiveness [3][6] - Eriocoxib's sales volume increased by over 50% year-on-year, and the company is actively working on expanding its production and market reach [6] Group 4: Market Dynamics and Challenges - The company is closely monitoring market dynamics and customer demand for lipoic acid products, adjusting sales strategies accordingly to address price declines and weak demand [4][5] - There are concerns regarding the potential substitution risk for lipoic acid; however, the company believes the risk is low due to its established presence in the market and inclusion in medical insurance [6]