Market Strategy - The market is experiencing a slight volume adjustment, indicating that short-term risks have been released [5][10] - The overall A-share market saw a decline, with the Wind All A Index dropping by 1.10% to 6219.38 points, while the Shanghai Composite Index fell by 0.70% to 3873.32 points [7][10] - The North Exchange 50 Index, representing innovative small and medium enterprises, increased by 3.84% to 1443.17 points, indicating a strong performance in this segment [7] Economic Insights - The Central Economic Work Conference was held in Beijing, emphasizing the need for a proactive macro policy to enhance domestic demand and optimize supply [16] - The People's Bank of China conducted a 1186 billion yuan reverse repurchase operation, indicating ongoing liquidity management in the market [18] - The Federal Reserve lowered interest rates for the third time this year, reducing the target range to 3.50%-3.75% [20] Industry Dynamics - The first full-scale release test of a 10 MPa high-pressure hydrogen pipeline was successfully conducted in China, marking a significant advancement in hydrogen pipeline safety technology [25][26] - Several dairy companies have received government subsidies, with specific amounts disclosed, indicating support for the industry [27][28] Company Updates - Zhongju High-Tech (600872.SH) is actively responding to adjustments to improve operations, with plans for major shareholder buybacks and strategic reforms [31] - Jindawei (002626.SZ) reported progress on its coenzyme Q10 expansion project, aiming for an annual production capacity of 920 tons, and is focusing on domestic brand marketing [33] - Renfu Pharmaceutical (600079.SH) received approval for its midazolam injection in Germany, which is expected to positively impact its international business expansion [35] - Huasheng Co., Ltd. (600156.SH) plans to acquire a 97.40% stake in Yixin Technology for a total price of 662 million yuan, aiming to enter the AIDC field [37]

证券日报网讯 12月11日晚间，人福医药发布公告称，控股子公司宜昌人福药业有限责任公司收到德国 联邦药品和医疗器械管理局（BfArM）核准签发的咪达唑仑注射液上市许可批准信。 （文章来源：证券日报） ...

Core Viewpoint - The company, Renfu Pharmaceutical, has received marketing authorization for Midazolam Injection from the German Federal Institute for Drugs and Medical Devices (BfArM), expanding its product offerings in the anesthetic market [1][2] Group 1: Regulatory Approvals - The company's subsidiary, Yichang Renfu, holds an 80% stake and has been granted marketing authorization for Midazolam Injection by BfArM [1] - The approved indications for Midazolam Injection include sedation before, during, and after diagnostic or therapeutic procedures, pre-anesthetic medication for adults, and sedation in the ICU [1] Group 2: Market Potential - The application for Midazolam Injection was submitted in December 2023 through a Decentralized Procedure (DCP) to both the French National Agency for Medicines and Health Products Safety (ANSM) and BfArM, with the latter granting approval [2] - The cumulative investment for the registration in France and Germany is approximately 10 million RMB, and the projected annual sales in the German market for 2024 are estimated at around 7 million USD [2]

公告显示咪达唑仑注射液获得德国联邦药品和医疗器械管理局(BfArM)的上市许可，被批准的适应症包 括：1)在诊断或治疗性操作前后及过程中进行清醒镇静(无论是否联合局部麻醉);2)成人麻醉诱导前的术 前用药、麻醉诱导、以及与其他麻醉剂作为镇静药物联合使用;儿童麻醉诱导前的术前用药;3)重症监护 病房(ICU)中的镇静。 智通财经APP讯，人福医药(600079.SH)公告，公司控股子公司宜昌人福药业有限责任公司(简称"宜昌人 福")收到德国联邦药品和医疗器械管理局(BfArM)核准签发的咪达唑仑注射液的上市许可批准信。 ...

人福医药公告，公司控股子公司宜昌人福药业有限责任公司近日收到德国联邦药品和医疗器械管理局 （BfArM）核准签发的咪达唑仑注射液的上市许可批准信。本次咪达唑仑注射液获得德国BfArM的上市 许可后，可在德国进行销售，将给公司国际业务拓展带来积极影响。 ...

Core Viewpoint - The company has received marketing authorization for midazolam injection from the German Federal Institute for Drugs and Medical Devices (BfArM), indicating a significant regulatory achievement that could enhance its market presence in Europe [1] Group 1: Regulatory Approval - The company's subsidiary, Yichang Renfu Pharmaceutical Co., Ltd., has been granted marketing authorization for midazolam injection by BfArM [1] - The approved indications for midazolam injection include: 1) conscious sedation before, during, and after diagnostic or therapeutic procedures, with or without local anesthesia; 2) preoperative medication for adult anesthesia induction, anesthesia induction, and use in combination with other anesthetics as a sedative; preoperative medication for pediatric anesthesia induction; 3) sedation in the Intensive Care Unit (ICU) [1]

Group 1 - The company has registered certificates for anesthetic drugs such as Pentazocine injection and Midazolam injection [2] - Currently, Midazolam injection is in production and sales, but its sales volume is very small and does not significantly impact the company's overall operating performance [2]

Company Highlights - Hanyu Pharmaceutical expects a net profit of 142 million to 162 million yuan for the first half of 2025, benefiting from increased global market demand and successful product approvals [1] - Taotao Automotive anticipates a net profit growth of 70% to 98% year-on-year for the first half of 2025, driven by enhanced brand influence and improved operational efficiency [2] - Xiaogoods City projects a net profit increase of 13% to 17% for the first half of 2025, attributed to growth in main business revenue and trade fulfillment services [2] - Hongxin Electronics signed contracts totaling 373 million yuan for computing power services through its subsidiaries [3] - Alloy Investment's controlling shareholder will change to Jiuzhou Hengchang, leading to the resumption of trading [3] - Hangzhou High-tech is planning a change in control, with a suspension of trading expected for no more than two trading days [4] - Junpu Intelligent signed a sales framework contract for humanoid robots worth 28.25 million yuan [7] - Lens Technology plans to issue 262 million H-shares globally, with an initial price range set between 17.38 and 18.18 HKD [8] - Saintno Biopharmaceuticals received a drug registration certificate for its product, further enhancing its market competitiveness [12] Investment & Contracts - Shenzhen Energy plans to invest 6.332 billion yuan in upgrading the Mawan Power Plant, aligning with national energy policies [17] - China Railway Construction won a contract worth 3.781 billion yuan for the China-Kyrgyzstan-Uzbekistan railway project [27] - China Railway secured contracts totaling approximately 5.343 billion yuan for the same railway project [28] - Zhongtian Technology's subsidiary won multiple marine energy project contracts totaling about 1.722 billion yuan [29] - Lande Group intends to acquire a 20.1667% stake in Jujia Technology for up to 121 million yuan, enhancing its capabilities in high-performance materials [21][22] Financing & Capital Increase - Yiwei Lithium Energy submitted an application for H-share issuance and listing in Hong Kong [30] - Jiadou Technology plans to issue H-shares and list on the Hong Kong Stock Exchange [30] - Helin Micro-Nano is preparing to issue H-shares for listing in Hong Kong [30] Other Developments - Renfu Pharmaceutical received approval for its midazolam injection in France, with expected annual sales of approximately 33 million USD [31] - Kanghong Pharmaceutical obtained a drug registration certificate for its eye drop product, enhancing its product pipeline in the ophthalmology sector [32]

Core Viewpoint - The company Yichang Renfu Pharmaceutical, a subsidiary of Renfu Pharmaceutical (600079), has received approval from the French National Agency for the Safety of Medicines and Health Products for the marketing authorization of midazolam injection, which is indicated for sedation, pre-anesthesia in adults and children, and sedation in intensive care units [1] Group 1 - The approved indications for midazolam injection include sedation, pre-anesthesia in adults and children, and sedation in intensive care units [1] - The marketing authorization application was submitted in December 2023 and has now been approved, with a validity period of five years [1] - The total R&D investment for this project is approximately 8 million RMB [1] Group 2 - According to IQVIA data, the estimated annual sales for midazolam injection in the French market in 2024 is approximately 33 million USD [1]

Group 1: Company Performance and Sales - The company achieved approximately 1 billion in sales for Antitan after leveraging its sales channel advantages [2] - Oxycodone generated nearly 5 billion in revenue last year, indicating strong market performance [2] - The sales target for Midazolam injection in 2024 is projected to reach around 7 billion [2] - The company expects a sales figure of 2 billion for Oligo in 2025, with over 1,500 hospitals anticipated to adopt the product [1] Group 2: Market Strategy and International Expansion - Domestic sales account for 98.55% of total sales, while international sales represent only 0.41% [1] - The company plans to accelerate international expansion through external product introductions and self-developed project licensing [1] - The company is focusing on strategic partnerships and licensing opportunities to enhance its international presence [4] Group 3: Product Development and Pipeline - NH600001 is progressing well, with NDA submission expected in the second half of this year and approval anticipated in the first half of 2027 [1] - The company is developing long-acting formulations, including Aripiprazole long-acting injection, currently in clinical stages [3] - NH102, NH130, and NH160030 are innovative drug projects in clinical phases, targeting depression and Parkinson's disease symptoms [4] Group 4: Market Challenges and Regulatory Impact - The company acknowledges ongoing challenges in the pain management sector due to competition from other firms [1] - The impact of national procurement policies on the company's operations is considered minimal, but local procurement remains uncertain [2] - The company aims for double-digit growth despite the challenges posed by procurement policies [2] Group 5: Future Outlook and Growth Projections - The company anticipates double-digit growth in the anesthesia, mental health, and neurological sectors [6] - Strategic focus on core competencies is expected to enhance competitive advantages in the market [7] - The company is optimistic about achieving a robust growth trajectory over the next 3-5 years [4]