Group 1 - The company conducted an investor relations activity focusing on the progress of innovative drug research and development, overseas rights cooperation, resolution of industry competition, and layout in the health sector [2] - The company is currently conducting Phase IIa clinical trials for the innovative drug Painegabine, with 100% enrollment of the target 36 participants, and expects to unblind and read results by the end of 2025 [2] - The company has completed the Phase II clinical trial for Fluofenone and is preparing for Phase III clinical trials, with data expected to be read out by the end of this year [2] Group 2 - The company is actively seeking suitable partners for overseas rights cooperation for Painegabine [2] - The company is addressing industry competition commitments with a focus on resolution [2] - The company has partnered with AFT Pharmaceuticals from New Zealand to become the exclusive sales agent for five products and signed a strategic cooperation agreement with Malaysia's Aikang International Group to leverage the Hainan Free Trade Port policy [2] Group 3 - The company plans to focus on the neuropsychiatric field, introducing a long-acting injection of Paliperidone for schizophrenia treatment, and aims to develop a product cluster [2] - The company is enhancing its product pipeline in traditional Chinese medicine, focusing on gastrointestinal health products, and aims to expand overseas registration and sales [2] - The company is deepening collaborations with universities and research institutions to explore high-end formulations and international partnerships [2]

Clinical Trials and Drug Development - The company is conducting Phase IIa clinical trials for the drug Paenagabin, with a target enrollment of 36 cases, which has been fully achieved at a 100% completion rate. Preliminary data shows promising therapeutic effects [2][3] - The Phase II data for Paenagabin is expected to be unblinded and results read out by the end of 2025 [2][3] - The Phase II clinical research for another drug, Fluorofenone, has completed subject enrollment and data cleaning, with results expected to be revealed by the end of this year [3][4] - Preparations for the Phase III clinical trials of Fluorofenone are underway, anticipated to start between the end of this year and early next year [3][4] Market Expansion and Partnerships - The company is actively seeking international partners for the commercialization of innovative drugs, with future expansion dependent on the Phase II clinical results of Paenagabin [3][4] - A strategic cooperation agreement has been signed with Malaysia's Aikang International Group to introduce high-quality health products and promote traditional Chinese medicine products in the Malaysian market [3][4] Product Development and Focus Areas - The company plans to focus on the neuropsychiatric field, introducing a long-acting injection for the treatment of schizophrenia, thereby forming a product cluster in this area [4] - The company aims to expand its gastrointestinal product line, particularly the Gut Health series, targeting grassroots medical institutions and increasing user base [4] - There is a commitment to deepen collaborations with universities and research institutions to enhance competitiveness in high-end formulations [4] Risk Management - There are uncertainties regarding the success of subsequent clinical trials for innovative drugs and the potential for obtaining approval from the National Medical Products Administration [4] - The company emphasizes the importance of timely information disclosure regarding the progress of innovative drugs and encourages investors to make cautious decisions [4]

Core Viewpoint - Hainan Haiyao Co., Ltd. has transformed its R&D innovation system, focusing on both innovative and generic drug development, while actively expanding its product lines in the health sector through a combination of in-house R&D and external partnerships [1][2]. Group 1: R&D and Product Development - The company has significantly increased its R&D investment, adhering to a strategy of "combining imitation and innovation," leading to substantial progress in generic drugs and formulations [1]. - Recent achievements include the successful consistency evaluation of injectable cefoperazone sodium, enhancing market competitiveness, and the registration approval of linezolid tablets, expanding the raw material drug product line [1]. - Since 2021, Hainan Haiyao has passed consistency evaluations for 18 varieties and 38 specifications of generic drugs, improving overall drug quality [1]. Group 2: Innovative Drug Development - Hainan Haiyao is advancing two Class 1 innovative drugs, including the anti-fibrosis drug fluvoxamine capsules, which has reached the primary endpoint in Phase II clinical trials and is set to enter Phase III trials [2]. - The company is also developing an anti-epileptic drug, paenagabin tablets, with a significant patient base in China, where approximately 9 million people suffer from epilepsy, indicating a substantial market opportunity [2]. Group 3: International Collaboration - Leveraging the advantages of the Hainan Free Trade Port, Hainan Haiyao has established exclusive distribution agreements with AFT Pharmaceuticals Ltd., enhancing its product pipeline in the health sector [3]. - The collaboration includes innovative dietary supplements and a long-acting injection for schizophrenia, expanding the company's offerings in the neuropsychiatric field [3]. Group 4: Traditional Chinese Medicine - Hainan Haiyao has a long history of exploring traditional remedies, developing modern strategies to enhance the value of classic formulas [4]. - The company has achieved multiple registrations and patents for its flagship product, Fengliao Gastrointestinal Health series, and plans to strengthen its gastrointestinal product line [4]. Group 5: Future Outlook - The company aims to continue selecting traditional Chinese medicine projects and establish a modern production platform, fostering the growth of its TCM segment [4]. - Hainan Haiyao is well-positioned to integrate classic formulas with modern technology, expanding its reach in the health sector and providing innovative health solutions to consumers [4][5].