Group 1: Company Performance and Market Strategy - The overall business operation in Q4 is stable, with sales proceeding as planned amidst steady market demand [2][3] - The company is implementing multi-faceted measures to address the impact of the centralized procurement of Loxoprofen Sodium Gel, focusing on expanding the outpatient market and enhancing brand development [2][3] - The company has a professional OTC team of over 200 people to drive online and offline channel development, effectively broadening market coverage [7] Group 2: Innovation and R&D Focus - The company is fully transitioning to focus on innovative drug development, with a core emphasis on chemical and traditional Chinese medicine innovations [4] - In 2025, the estimated R&D expenditure is projected to be between 250 million to 300 million CNY [6] - The company is pursuing a dual approach of independent R&D and project acquisition to enhance its innovation pipeline [4] Group 3: Product Launch and Sales Expectations - The Ketoprofen Gel was approved for market entry in 2023 and is optimistic about its market prospects as it is the first generic product listed in the national medical insurance directory [5] - The company is intensifying resource allocation towards the outpatient market and strengthening internal sales team assessments to boost sales performance [5][7] Group 4: Market Challenges and Strategic Adjustments - The company acknowledges pressure on achieving annual targets due to market challenges but is committed to promoting new products and enhancing market penetration [7] - Strategies include optimizing product positioning and increasing brand influence to expand market share [7]

Group 1: Company Advantages - The company has a complete industrial chain layout, allowing it to independently produce active pharmaceutical ingredients and key excipients, ensuring product quality while effectively controlling costs [2] - A full-channel coverage system has been established, particularly in the outpatient market, which has become a new engine for revenue growth [2] - Continuous high investment in R&D to innovate and expand the product line, with a focus on strengthening the "JiuYue" brand in the transdermal drug delivery field [2] Group 2: Product Expectations and Market Strategy - The ketoprofen gel patch was approved for market in 2023 and has entered the national medical insurance directory, being the first generic product in the domestic market [3] - The company is optimistic about the market prospects for the ketoprofen gel patch and has developed new sales strategies focusing on outpatient market resources and internal sales team assessments [3] Group 3: Financial Projections - The company expects a revenue growth of 10-20% year-on-year for 2025, with a similar growth forecast for net profit excluding non-recurring items [4] - There are risks associated with achieving these targets due to market conditions, operational environment, and industry policies, which may introduce significant uncertainties [4] Group 4: Product Development Progress - The indomethacin gel patch is currently undergoing supplementary data review, while the pepper and musk gel patch has completed supplementary research and is awaiting registration application [5] - Differences between the loxoprofen sodium gel patch and the anti-inflammatory plaster include active ingredients, indications, and prescription attributes, with loxoprofen being a prescription drug for musculoskeletal pain [6]

Group 1: Company Overview and Strategy - The company focuses on mergers and acquisitions that align with its strategic development, aiming to enhance its supply chain, technology, market competitiveness, and product pipeline [2] - The company has established a comprehensive sales channel system, particularly in the outpatient market, which has become a new growth engine for performance [3] Group 2: Product Development and Market Potential - The company believes that the market for Loxoprofen Sodium Gel Patch in the outpatient sector has significant growth potential, supported by stable demand for topical patches in retail [4] - The company plans to continue investing in R&D to expand its product line and strengthen its brand "JiuYue" in the transdermal drug delivery field [3] Group 3: Competitive Positioning - Loxoprofen Sodium Gel Patch is a prescription drug effective for osteoarthritis and muscle pain, while the anti-inflammatory patch is an over-the-counter product with different ingredients and indications [5] - The company aims to leverage its complete supply chain to control costs and ensure product quality in response to competitive products gaining approval [2] Group 4: Financial Projections - For 2025, the company expects a revenue growth of 10-20% and a similar increase in net profit excluding non-recurring items [6] - The company warns that its operational plans and sales forecasts are subject to market conditions and other uncertainties, advising investors to remain aware of risks [7] Group 5: Marketing and Promotion Strategies - The company employs a multi-channel strategy for OTC promotion, integrating online and offline channels, and enhancing consumer experience through educational activities [7] - The brand "JiuYue" is positioned to meet diverse consumer needs through differentiated marketing and a varied product portfolio [7]

Core Viewpoint - Jiutian Pharmaceutical is actively responding to competitive product approvals by leveraging its complete industrial chain to control costs and ensure product quality while expanding its market presence through a robust sales strategy and continuous investment in R&D [2][4]. Group 1: Company Response to Competition - The company plans to actively respond to competitive product approvals by utilizing its complete industrial chain for self-production of raw materials and key auxiliary materials, ensuring product quality while effectively controlling costs [2]. - Jiutian Pharmaceutical has established a comprehensive sales coverage system, particularly in the outpatient market, which has become a new engine for revenue growth [2]. Group 2: Product Development and Market Strategy - The company is focusing on enhancing its "Jiuyue" brand of transdermal patches, aiming to deepen its influence in the transdermal drug delivery field through first-mover advantages, channel advantages, and cost advantages [2]. - The company is actively expanding its outpatient market presence and has planned a new sales strategy to increase resource investment in this area [4]. Group 3: Product Approval and Market Engagement - As of now, the procurement documents for the Lososofen Sodium Gel Patch in the Guangdong Alliance collection are still in the reporting stage, with no formal release yet [3]. - The company expects the approval of the Fluorobufen Gel Patch by the end of this year [7]. Group 4: Financial Performance - Jiutian Pharmaceutical reported a main revenue of 2.146 billion yuan for the first three quarters of 2024, a year-on-year increase of 13.36%, with a net profit attributable to shareholders of 450 million yuan, up 45.08% year-on-year [9]. - The company’s third-quarter revenue reached 780 million yuan, reflecting a 15.47% year-on-year increase, with a net profit of 166 million yuan, up 47.38% year-on-year [10]. Group 5: Share Buyback Progress - The company conducted its first share buyback on March 13, 2025, through centralized bidding, with further details available in its recent announcement [8].