Group 1 - The company, Jiutian Pharmaceutical, stated that its current R&D progress is in line with expectations [1] - The company aims to continuously develop the "JiuYue" patch brand, leveraging first-mover advantage, channel advantage, and cost advantage [1] - The company is committed to deepening its influence in the transdermal drug delivery field and further solidifying its leading position in the industry [1]

Group 1: Company Overview and Strategy - The company has a complete industrial chain layout, enabling self-production of active pharmaceutical ingredients and key excipients, ensuring product quality while effectively controlling costs [2][5] - The company plans to increase investment in the outpatient market, which has become a new growth engine for performance [2] - The company maintains high investment in R&D to continuously innovate and expand its product line, particularly focusing on the "JiuYue" brand in the transdermal drug delivery field [2][3] Group 2: Market Response and Pricing Strategy - The company will actively respond to the impact of competitor product approvals by optimizing cost structures and enhancing innovation capabilities [2][4] - With the nationwide implementation of centralized drug procurement policies, drug prices are expected to decline, necessitating continuous strategic adjustments by pharmaceutical manufacturers [4] Group 3: Financial Projections - For 2025, the company expects a revenue growth of 10-20% year-on-year, with a similar increase in net profit after deducting non-recurring items [6][7] - The company's operational plans and sales forecasts are subject to market conditions and regulatory environments, indicating significant uncertainty [7] Group 4: M&A Strategy - The company will consider multiple directions for mergers and acquisitions, focusing on targets that align with its development strategy, enhance technological capabilities, and enrich its product pipeline [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].

Group 1: Company Strategy and Market Position - The company plans to actively respond to the impact of competitor product approvals by leveraging its complete industrial chain to control costs and ensure product quality [2] - A full-channel coverage system has been established, particularly in the outpatient market, which has become a new growth engine for performance [2] - Continuous high investment in R&D is maintained to innovate and expand the product line, with a focus on strengthening the "JiuYue" brand in the transdermal drug delivery sector [2] Group 2: Product Development and Market Expansion - The company is currently in the reporting phase for the procurement of the Loxoprofen Sodium Gel Patch in the Guangdong Alliance, with procurement documents not yet officially released [3] - Plans to enhance sales strategies for the Loxoprofen Sodium Gel Patch include increasing resource allocation to the outpatient market to boost market influence [4] - As of December 31, 2024, over 2,000 hospitals have been developed for the Ketoprofen Gel Patch, including more than 1,000 tier 2 and tier 3 hospitals [5] Group 3: Consumer Demographics and Product Approval - The primary consumer demographics for the Loxoprofen Sodium Gel Patch in retail pharmacies include patients with osteoarthritis, muscle pain, injuries, elderly individuals, laborers, and athletes [6] - The company anticipates that the Fluorobiprofen Gel Patch will be approved by the end of this year [7] Group 4: Share Buyback Progress - The company conducted its first share buyback on March 13, 2025, through centralized bidding, with details available in the recent announcement on the Giant Tide Information Network [8]

Market Overview - The transdermal patch industry is experiencing rapid growth due to factors such as an aging population facing chronic pain issues like arthritis and muscle pain, which increases market demand for patch products [2][3] - Public awareness of scientific medication and health management is rising, leading to a preference for convenient and safe external medications like transdermal patches [2][3] Company Advantages - The company benefits from a complete industrial chain, allowing for in-house production of active pharmaceutical ingredients and key excipients, ensuring product quality while controlling costs [3][8] - A comprehensive sales channel system has been established, particularly in the outpatient market, which is a new growth engine for performance [3] - Continuous high investment in R&D enables the company to innovate and expand its product line, enhancing its competitive edge [3][8] Product Strategy - The company is optimistic about the market prospects for its anti-inflammatory and analgesic patches, focusing on OTC channels and leveraging shared sales resources to boost sales [4] - The sales team consists of over 400 personnel, enhancing the company's market reach [5] Marketing and Promotion - Multi-channel collaboration strategies are employed for OTC promotion, integrating online and offline channels, including partnerships with pharmacies and e-commerce platforms [6][10] - The company emphasizes patient education and conducts health seminars to enhance consumer experience and trust [7] Future Directions - The company plans to focus on three key areas: expanding sales channels, particularly in outpatient markets, enhancing brand influence, and increasing R&D efforts for new product development [12][13] - Continuous optimization of production processes and cost control mechanisms will be prioritized to ensure efficient operations and good returns for shareholders [13] M&A Strategy - The company will consider various directions for mergers and acquisitions, focusing on targets that align with its strategic development, enhance market competitiveness, and enrich its product pipeline [11]