Group 1: Clinical Trials and Results - The company is conducting Phase IIa clinical trials for the drug Paiengabin, with 12 subjects enrolled in the first dose group, showing a 25.47% reduction in seizure frequency over 28 days compared to baseline [5] - In Phase I clinical studies, Paiengabin demonstrated linear pharmacokinetics across doses of 2.5-25 mg, with no serious adverse events reported [3][4] - The Phase IIa trial results are still blinded, and final efficacy data will be available post-unblinding [5] Group 2: Drug Characteristics and Comparison - Paiengabin is a KCNQ potassium channel agonist, designed to overcome the limitations of the previously marketed drug Retigabine, which was withdrawn due to safety concerns [6] - Non-clinical studies indicate that Paiengabin has superior chemical stability and better distribution in the brain compared to Retigabine, enhancing its efficacy against epilepsy [7] Group 3: Future Development and Market Strategy - The company plans to explore expanding Paiengabin's indications based on Phase II clinical outcomes and market demand, potentially including severe depression caused by KCNQ mutations [9] - The patent for Paiengabin is held by the Shanghai Institute of Materia Medica, with exclusive rights for clinical development and commercialization in mainland China [9] - The company is considering international rights transfer for Paiengabin, depending on the outcomes of the Phase II trials [9] Group 4: Fluorofenone Clinical Trials - Fluorofenone's Phase I clinical trials have shown good safety and tolerability in healthy subjects, with adverse events primarily mild to moderate [10] - The Phase II mid-analysis for Fluorofenone included 156 subjects, with a 55.6% reduction in Ishak fibrosis scores after 48 weeks [11] - The company anticipates entering Phase III clinical trials for Fluorofenone in the second half of 2025, with the drug included in the list of breakthrough therapies by the National Medical Products Administration [11]

Group 1 - The company, Fujian Cosunter Pharmaceutical Co., Ltd., plans to issue A-shares to specific investors, with the proposal approved by the board and shareholders [2][3] - The issuance will target no more than 35 specific investors, including qualified institutional investors and individuals, with all subscriptions to be made in cash [3][4] - The pricing for the shares will be based on the average trading price over the 20 trading days prior to the pricing date, set at no less than 80% of that average [4] Group 2 - The total number of shares to be issued will not exceed 47,780,100, representing no more than 30% of the company's total share capital prior to the issuance [5] - The company aims to raise up to 976.87 million yuan, with funds allocated primarily for innovative drug research and development, traditional Chinese medicine industrialization, and working capital [5] - The company will initially use self-raised funds for projects until the raised funds are available, and if the actual net amount raised is less than planned, adjustments will be made based on project priorities [5] Group 3 - After the issuance, the shares subscribed by investors will be subject to a six-month lock-up period [6] - The issuance will not change the controlling shareholder or the actual controller of the company, nor will it affect the distribution of shares in a way that violates listing conditions [6] - The company has committed to measures to compensate for any dilution of immediate returns resulting from the issuance [6] Group 4 - The company has experienced continuous losses, with net profits of -132.18 million yuan, -354.23 million yuan, -199.54 million yuan, and -30.42 million yuan in recent periods, primarily due to increased R&D investments and price declines from centralized procurement policies [10][11] - The company is focusing on innovative drug development, which typically involves high costs and long timelines, and faces risks related to market acceptance and competition [9][10] - The company has established itself as a well-known player in the antiviral drug market, particularly in hepatitis B treatment, with a product portfolio that includes generics and innovative drugs [14]