Group 1 - The company held an online investor meeting on September 12, 2025, to address investor concerns regarding its performance and strategies [1] - Investors showed strong interest in the company's R&D progress and market strategies, particularly regarding the flagship store sales of eye drops on platforms like Alibaba Health and JD Pharmacy, which the company currently has no plans for [2] - The company is advancing its I-class new drug, KH110, for Alzheimer's treatment, which is in clinical phase III, but the commercialization timeline remains uncertain due to various factors [2] Group 2 - The company emphasizes shareholder interests and market performance in its value management strategy, focusing on core business, operational quality, and competitive strength [3] - The company is committed to international cooperation and market expansion, with its product, Conbercept, already sold in Mongolia, Pakistan, and Macau, and participating in international medical aid [3] - R&D investment has increased, with a year-on-year growth of 11.27% in the first half of 2025, and the company is focusing on key technology and treatment areas to enhance its R&D capabilities [4] Group 3 - Conbercept remains a core product, maintaining its leadership in the Chinese ophthalmology anti-VEGF market despite new competition [4] - The company anticipates the launch of high-concentration Conbercept by 2028 and gene therapy products around 2030, aiming to create a product array that includes fusion proteins, high-concentration, and gene therapy [4]

Group 1 - The core viewpoint of the report is that Gannee Pharmaceutical (603087.SH) is rated as a "buy" due to its strong performance and growth potential [2] - The company's formulation business is experiencing significant growth, benefiting from a synergistic effect of rising volume and price [2] - Gannee Pharmaceutical is advancing its globalization strategy, leading to rapid growth in international revenue [2] - The company is increasing its investment in research and development, achieving continuous breakthroughs [2]