本文不构成任何投资意见和建议，以官方/公司公告为准；本文仅作医疗健康相关药物介绍，非治疗方案推荐（若涉及），不代表平台立场。任何文章转 载需得到授权。 2025年11月28日，江西富祥药业股份有限公司（股票代码：300497）与医药信息与人脉资源平台药融圈正式举行战略合作签约仪式，宣告双方未来将在医 药与生物制造领域深度融合，整合资源、技术与生态优势，共同推动技术创新与产业化提速，为医药健康产业高质量发展注入新动能。 随着生物医药技术的快速发展，合成蛋白作为替代传统蛋白获取方式的新兴技术，在医药健康、食品工业、新材料等领域展现出巨大潜力。 富祥药业凭借其在医药、生物制造等领域的深厚积累，已在微生物蛋白方向提前布局，旗下子公司富祥生物是国内首家新质蛋白吨级产业化企业，已建成 年产1200吨蛋白生产线。 （左：药融圈董事长王波 右：富祥药业执行总裁程健祖） 2025年11月27日，富祥药业已获得国家卫健委批文，对于富祥在生物制造领域的发展具备里程碑意义，同时能够推动国内食品制造业务，对国家粮食安全 亦具备积极作用。 富祥旗下有医药、新能源材料、生物制造三大产业。未来，双方将围绕富祥三大产业版块，深化在爆品打造、视 ...

Group 1: Company Achievements and Certifications - The company’s Wei Ran protein has officially passed the National Health Commission's administrative approval, obtaining new food raw material certification, which serves as a significant milestone in its development [2][3] - The certification allows Wei Ran protein to enter the Chinese food market, establishing a "dual certification" global market framework, enhancing international competitiveness and risk resistance [3] - Wei Ran protein features a nutritional profile of "high protein, high dietary fiber, low fat, and zero cholesterol," meeting modern consumer demands for healthy diets [3] Group 2: Market and Industry Impact - The successful certification provides a replicable model for the approval and commercialization of the fungal protein industry in China, boosting industry confidence and attracting more capital and talent [3] - The development of Wei Ran protein aligns with national strategies for protein supply security and reducing reliance on imported soybeans, contributing to environmental sustainability [4] Group 3: Future Capacity and Business Strategy - The company plans to leverage its technological advantages and circular economy model to maintain industry leadership and expand both domestic and international markets [5] - Future capacity releases will focus on optimizing production processes and raw material costs, enhancing competitive advantages [5] Group 4: Business Performance and Growth Projections - The pharmaceutical manufacturing segment is expected to benefit from a 41% decrease in the price of 6-APA, alongside growing market demand for downstream products [6] - The lithium battery additive business is experiencing rapid price increases due to rising demand from energy storage and power battery sectors [7] - The company’s synthetic biology business has received approval for Wei Ran protein as a new food raw material, facilitating its commercialization and global market entry [7] Group 5: Risk Management and Investor Relations - All information disclosed by the company is based on official announcements, urging investors to make rational investment decisions and be aware of risks [8]

Group 1 - Muxi Co., Ltd. plans to issue 40.1 million shares with a strategic placement of 8.02 million shares, with the initial inquiry date set for December 2, 2025, and subscription date on December 5, 2025 [1] - Changguang Huaxin has reported uncertainty regarding the sales and profit contributions of several optical communication chips for the current year, despite recent growth in computing power demand [2] - Shida Group clarified that there is currently no business cooperation with Alibaba Cloud, addressing rumors circulating on online platforms [3] Group 2 - Jindike announced that it will not issue additional batches of quadrivalent influenza virus split vaccine this year, with approximately 1.56 million doses already certified for sale [4] - Industrial Fulian adjusted its share repurchase price ceiling from 19.36 RMB to 75 RMB per share, with a total of 7,697,400 shares repurchased so far [5] - Meiyan Jixiang's application for mineral resource review has been accepted, but there are still uncertainties regarding the evaluation results and subsequent approval processes [6] Group 3 - Yidong Electronics plans to invest 61.2 million RMB to acquire 51% of Shenzhen Guanding, aiming to expand into AI server liquid cooling products [7] - Jianlong Micro-Nano has terminated its major asset restructuring plans due to the conditions not being mature enough for the transaction [8][9] - Guangdian Yuntong won a bid for a 308 million RMB artificial intelligence application pilot base construction project [11]

Core Points - The company, Fujian Pharmaceutical Co., Ltd., has recently obtained the Good Manufacturing Practice (GMP) certification from the Brazilian National Health Surveillance Agency (ANVISA) for its chemical raw material, Tazobactam [1] Group 1 - The certification signifies compliance with international quality standards for pharmaceutical production [1] - The scope of the certification specifically covers the production of Tazobactam, which is a key pharmaceutical ingredient [1]

Core Viewpoint - Fuxiang Pharmaceutical has obtained the GMP certification from Brazil's National Health Surveillance Agency (ANVISA) for its chemical raw material, Tazobactam, enabling the company to enter the Brazilian market and expand its international presence [1] Group 1 - The certification scope includes the chemical raw material drug Tazobactam [1] - Brazil is the largest country in South America, making this certification significant for market entry [1] - The successful certification lays a solid foundation for further expansion into the Brazilian market and other international markets, enhancing the company's global competitiveness [1]

Core Viewpoint - The company, Fuxiang Pharmaceutical, has received GMP certification from Brazil's National Health Surveillance Agency (ANVISA) for the production of the chemical raw material, Tazobactam [1] Group 1 - The certification indicates compliance with international quality management standards for pharmaceutical production [1] - The scope of the certification specifically covers the chemical raw material Tazobactam, which is significant for the company's product portfolio [1]

Core Viewpoint - Fuxiang Pharmaceutical has obtained the GMP certification from Brazil's National Health Surveillance Agency (ANVISA) for its chemical raw material, Tazobactam, enabling the company to enter the Brazilian market and expand its international presence [1] Group 1 - The certification scope includes the chemical raw material drug Tazobactam [1] - Brazil is the largest country in South America, making this certification significant for market entry [1] - The successful certification lays a solid foundation for further expansion into the Brazilian market and other international markets, enhancing the company's global competitiveness [1]

Core Viewpoint - Fuxiang Pharmaceutical has obtained the GMP certification from the Brazilian National Health Surveillance Agency (ANVISA) for the production of the chemical raw material, Tazobactam [1] Group 1 - The certification signifies compliance with international quality management standards for pharmaceutical production [1] - The scope of the certification specifically covers the chemical raw material Tazobactam, indicating a focus on this product line [1]

Core Viewpoint - Fuxiang Pharmaceutical has obtained GMP certification from the Brazilian National Health Surveillance Agency for its chemical raw material, Tazobactam, enabling the product's entry into the Brazilian market and laying the groundwork for further international market expansion [1] Summary by Categories - **Certification Achievement** - The company received GMP certification for Tazobactam, which is a significant milestone for its international operations [1] - **Market Expansion** - This certification allows the company to enter the Brazilian market, indicating potential growth opportunities in South America [1] - **Business Risks** - The international raw material pharmaceutical business is subject to various influencing factors, which introduces uncertainty [1]

Summary of Fuxiang Pharmaceutical Conference Call Company Overview - Fuxiang Pharmaceutical is the largest supplier of sulbactam and the second-largest supplier of tazobactam globally, focusing on the production of antibiotic intermediates and active pharmaceutical ingredients since 2002 [2][5][22]. Industry Insights - The demand for energy storage and power batteries has significantly increased, leading to a rise in prices for VC (Vinyl Carbonate) and FEC (Fluoroethylene Carbonate) products, supported by government policies [2][3]. - The VC additive market has seen a collective shutdown for maintenance by key players, impacting supply by approximately 20,000 tons [8][10]. Key Points Production Capacity and Expansion Plans - Fuxiang plans to expand VC production capacity to 10,000 tons and FEC to 5,000 tons by Q2 2026, with environmental facilities already prepared for rapid expansion [2][4]. - Current VC production capacity is 8,000 tons, with a cost control below 50,000 yuan per ton, while market prices have surged to around 140,000 yuan [3][14]. Financial Performance and Cost Management - The price of LPA (a key raw material) has decreased from 280,000-300,000 yuan per ton to 160,000-170,000 yuan, significantly improving the gross margins for sulbactam and tazobactam [5][22]. - The company has implemented new processes to reduce costs by approximately 15% and has proprietary technology that is significantly cheaper than external sourcing [24][25]. Market Demand and Product Development - Fuxiang maintains an optimistic outlook on the downstream demand for sulbactam and tazobactam, with annual growth projected in the single digits [22]. - The introduction of new drugs has driven growth in the raw material intermediates market [22]. Microbial Protein and Agricultural Projects - Fuxiang is the first company in China to achieve industrialization of filamentous fungal protein at a scale of over 1,000 tons, with plans to expand to 20,000 tons by 2026 [6][27]. - The company is also developing a water-soluble fertilizer project, expected to yield significant benefits upon completion [28][29]. Competitive Landscape - The competitive landscape in the VC additive market is intense, with Fuxiang's main customers including Tianqi Materials and New Zobang, although specific sales proportions were not disclosed [13]. - The company is well-positioned to respond to market fluctuations due to its existing infrastructure and rapid approval processes for expansion [16][17]. Future Outlook - The company anticipates a new price equilibrium in the market, with strategies in place to maintain competitiveness regardless of price fluctuations [18]. - Fuxiang is closely monitoring developments in solid-state battery materials but currently has no active projects in that area [30]. Additional Insights - The microbial protein market is expected to grow due to its nutritional advantages over plant proteins, including zero cholesterol and low sugar content [30]. - The company has made significant investments in patent protection and certifications to support its strategic direction in microbial protein and other innovative products [7].