Core Viewpoint - Kanghong Pharmaceutical (002773) has received the drug registration certificate for Brivaracetam tablets from the National Medical Products Administration, enhancing its product pipeline [1] Group 1: Product Approval - Brivaracetam is indicated for the treatment of schizophrenia, with an unclear mechanism of action potentially involving partial agonist activity at serotonin 5-HT1A and dopamine D2 receptors, as well as antagonist activity at serotonin 5-HT2A receptors [1] - The approved specifications for Brivaracetam tablets are 1mg and 2mg, classified as a chemical drug of category 4 [1] Group 2: Impact on Company - The approval of Brivaracetam tablets enriches the company's product pipeline, indicating a strategic move to expand its offerings in the psychiatric treatment market [1]

Group 1 - 德方纳米 plans annual equipment maintenance to ensure efficient and stable operation, starting January 1, 2026, for one month, with no significant impact on 2026 performance [1] - 达意隆's subsidiary Tianjin Baolong faces a significant decline in OEM orders due to strategic adjustments from core customers, leading to plans to shut down production lines [2] - 天威视讯's subsidiary plans to transfer project assets for 604.3 million yuan to a related party, constituting a related transaction [3] Group 2 - 金龙羽 intends to sign a strategic cooperation framework agreement with an investment institution to establish an industrial merger fund with a planned scale of 1.5 billion yuan [4] - 紫光国微's subsidiary plans to establish a new company with multiple partners, including a subsidiary of CATL, with a registered capital of 300 million yuan [5] - 信隆健康's major shareholder plans to reduce its stake by up to 1% through trading [6] Group 3 - 龙建股份 wins a 612 million yuan EPC contract for a project, which represents approximately 3.27% of the company's audited revenue for 2024 [7] - 复旦张江 receives acceptance for a clinical trial application for a drug aimed at visualizing malignant lesions in lung cancer patients [9] - 博实股份's major shareholder plans to reduce its stake by up to 2.93% [10] Group 4 - 百纳千成 plans to acquire 100% of Zhonglian Century's shares to expand its marketing business and digital advertising solutions [11] - 天铁科技's major shareholder is under criminal detention, but the investigation is unrelated to the company's operations [12] - 海看股份's shareholder plans to reduce its stake by up to 3.6% [13] Group 5 - 智光电气's subsidiary signs a procurement contract worth 148 million yuan for a high-voltage energy storage system [14] - 西藏矿业's attempt to transfer 100% of a subsidiary's equity has not attracted qualified buyers, leading to automatic withdrawal from the trading platform [15] - 英诺激光's major shareholder plans to reduce its stake by up to 3% [16] Group 6 - 福鞍股份's major shareholder plans to reduce its stake by up to 3% [17] - 白云山 receives a drug registration certificate for a rabies vaccine [18] - 华电科工 signs a contract worth approximately 265 million yuan for a power plant project [19] Group 7 - 康弘药业 receives a drug registration certificate for a medication used to treat schizophrenia [20] - 西菱动力's actual controller plans to reduce their stake by 2% [21] - 海希通讯's actual controller plans to reduce their stake by 0.48% [22] Group 8 - 海南机场 plans to transfer 90% of a subsidiary's equity for approximately 500 million yuan, expecting a profit of about 200 million yuan from the transaction [23] - 森远股份 signs a contract for a computing cluster integration project worth 26.78 million yuan [24] - 丽珠集团's subsidiary receives acceptance for a drug registration application for a new treatment for psoriasis [25] Group 9 - 郑州银行 plans to acquire a village bank and convert it into a branch [26] - 方正证券 announces a cash dividend distribution plan for the third quarter of 2025 [27] - 金陵体育 announces a cash dividend distribution plan for the first three quarters of 2025 [29] Group 10 - 紫金银行 announces a mid-term profit distribution plan for 2025 [30] - *ST建艺's major shareholder waives 1.4 billion yuan in debt and donates 400 million yuan to support the company [31] - 万朗磁塑's major shareholder plans to reduce their stake by up to 3% [32] Group 11 - 艾力斯's core product is included in a list of potential breakthrough therapies for lung cancer [33] - 富创精密's shareholder plans to transfer 918.63 million shares [34] - 东阳光's subsidiary plans to increase capital and introduce investors [35] Group 12 - 侨银股份 plans to acquire a 16.67% partnership in a venture capital fund [36] - 尤夫股份 receives a government subsidy of 4.04 million yuan for a technical improvement project [37] - 倍轻松 and its actual controller are under investigation for information disclosure violations [38] Group 13 - 万润新能 plans to reduce production on some lines for maintenance, expecting a reduction of 5,000 to 20,000 tons in lithium iron phosphate output [39]

Group 1: Industry Developments - The National Development and Reform Commission held a press conference on December 26 to introduce the work of the National Venture Capital Guidance Fund [1] - The Beijing Robotics Industry Association was established on December 26, initiated by several organizations including the China Electronic Information Industry Development Research Institute [1] - The 12th National Public Ice and Snow Season main event was held on December 26 in Changchun City [1] - The Hainan Free Trade Port officially started its first week of full island closure, with over 400 million yuan of "zero tariff" imported goods supervised by Haikou Customs from December 18 to 24 [2] - Since November, the booking volume for small and medium-sized ski resorts has surged over 200% year-on-year, indicating a growing interest in niche snow experiences [2] Group 2: Company News - Yichang Technology resumed trading on December 26, with the Chuzhou State-owned Assets Supervision and Administration Commission becoming the actual controller of the company [1] - Banachian intends to acquire 100% of the shares of digital intelligent marketing service provider Zhonglian Century [1] - Blue Arrow Aerospace has completed its IPO counseling work, indicating its ambition to become the first commercial aerospace stock [2] - Hongyuan Green Energy focuses on an integrated strategy involving silicon materials, silicon wafers, batteries, and modules in the photovoltaic industry [8] - Oufei Guang plans to acquire 28.2461% of Oufei Microelectronics' shares through a share issuance, with a transaction price of 1.791 billion yuan [9] Group 3: Market Trends - The offshore RMB exchange rate against the US dollar broke the 7.0 mark on December 25, with a closing rate of 7.3368 on December 31, indicating a significant appreciation trend [3] - The average debt ratio in the photovoltaic industry has increased from 23% to 31% due to ongoing losses and cash flow pressures [7] - The recent surge in equity ETF inflows, with over 100 billion yuan entering the market in December, highlights a growing investor interest [11]

Group 1 - The core point of the article is that Kanghong Pharmaceutical has received a drug registration certificate for Brexpiprazole tablets from the National Medical Products Administration, which is a significant regulatory approval for the company [1] - As of December 25, 2023, Kanghong Pharmaceutical's revenue composition for the first half of 2025 is reported to be 99.97% from the pharmaceutical manufacturing industry and 0.03% from other businesses [1] - The current market capitalization of Kanghong Pharmaceutical is 28.7 billion yuan [2]

Core Viewpoint - Kanghong Pharmaceutical (002773.SZ) has received the drug registration certificate for Brexpiprazole tablets from the National Medical Products Administration, indicating a significant regulatory approval for a new treatment option for schizophrenia [1] Group 1: Company Developments - The drug registration certificate for Brexpiprazole tablets has been issued with certificate numbers 2025S03922 and 2025S03923, marking an important milestone for Kanghong Pharmaceutical [1] - Brexpiprazole is indicated for the treatment of schizophrenia, which is a critical area in mental health therapeutics [1] Group 2: Drug Mechanism - The exact mechanism of action for Brexpiprazole in treating schizophrenia is not fully understood, but it is believed to involve partial agonist activity at serotonin 5-HT1A and dopamine D2 receptors, along with antagonist activity at serotonin 5-HT2A receptors [1]

Core Viewpoint - Kanghong Pharmaceutical (002773.SZ) has received the Drug Registration Certificate for Brexpiprazole Tablets from the National Medical Products Administration, indicating regulatory approval for the treatment of schizophrenia [1] Group 1 - The Drug Registration Certificate numbers are 2025S03922 and 2025S03923 [1] - Brexpiprazole's mechanism of action in treating schizophrenia is not fully understood, but it may involve partial agonist activity at serotonin 5-HT1A and dopamine D2 receptors, along with antagonist activity at serotonin 5-HT2A receptors [1]

Core Viewpoint - Kanghong Pharmaceutical (002773.SZ) has received the drug registration certificate for Brexpiprazole tablets from the National Medical Products Administration, indicating a significant regulatory approval for the treatment of schizophrenia [1] Group 1: Company Information - The drug registration certificate numbers for Brexpiprazole are 2025S03922 and 2025S03923, confirming its approval for market entry [1] - Brexpiprazole is indicated for the treatment of schizophrenia, although its exact mechanism of action remains unclear [1] Group 2: Industry Context - The mechanism of action for Brexpiprazole may involve partial agonist activity at serotonin 5-HT1A and dopamine D2 receptors, as well as antagonist activity at serotonin 5-HT2A receptors [1]

Core Viewpoint - Kanghong Pharmaceutical (002773.SZ) has received the drug registration certificate for Brexpiprazole tablets from the National Medical Products Administration, indicating a significant regulatory approval for a new treatment option for schizophrenia [1] Group 1: Product Approval - The National Medical Products Administration issued the drug registration certificate for Brexpiprazole tablets, with certificate numbers 2025S03922 and 2025S03923 [1] - Brexpiprazole is indicated for the treatment of schizophrenia, although its exact mechanism of action remains unclear [1] Group 2: Mechanism of Action - The potential mechanism of action for Brexpiprazole may involve partial agonist activity at serotonin 5-HT1A and dopamine D2 receptors, as well as antagonist activity at serotonin 5-HT2A receptors [1]

Core Viewpoint - Kanghong Pharmaceutical has received the drug registration certificate for Brexpiprazole tablets from the National Medical Products Administration, which is approved for the treatment of adult schizophrenia, enhancing the company's product pipeline [1] Group 1 - The drug is classified as a Class 4 chemical drug [1] - The approval of Brexpiprazole tablets adds to the company's product offerings [1] - The production and sales of pharmaceutical products may be influenced by changes in the market environment, leading to uncertainties [1]

Core Insights - The article discusses significant developments in the pharmaceutical and healthcare industry, including leadership changes, regulatory approvals, and strategic collaborations aimed at enhancing treatment options for patients with complex conditions like brain metastases [14][4][12]. Policy Developments - The National Medical Products Administration (NMPA) is focusing on balancing safety and development, emphasizing the importance of legal administration and scientific regulation to protect the legitimate rights of enterprises and promote high-quality industry development [2]. Drug Approvals - Yuandong Biotech received a drug registration certificate for Brivaracetam tablets, marking it as the first generic drug approved under the new registration classification in China. The expected sales for the original drug are approximately 160,000 yuan in the first half of 2025 [4]. - Jiutian Pharmaceutical has received approval for clinical trials of JMHT06 for treating acute gouty arthritis [5]. Capital Market Activities - L'Oréal plans to increase its stake in Galderma by acquiring an additional 10% of shares, which will raise its total ownership to 20% by early 2026. This move includes the nomination of two non-independent directors from L'Oréal to Galderma's board [7]. Industry Collaborations - Baiyang Pharmaceutical is collaborating with multiple medical institutions to enhance treatment for brain metastases, including launching real-world studies with ZAP-X technology and establishing a precision radiotherapy center [12][9].