Core Viewpoint - Recently, the company reported a decline in revenue and incurred losses for the first three quarters of 2025, indicating challenges in its financial performance [1] Financial Performance - For the first three quarters of 2025, the company achieved operating revenue of 581 million, a year-on-year decrease of 4.1% [1] - The net profit attributable to the parent company was a loss of 45.92 million [1] - In the third quarter, the operating revenue was 204 million, reflecting a year-on-year decline of 8.9% [1] - The net profit attributable to the parent company for the third quarter was a loss of 14.54 million [1] Regulatory Approvals - During the reporting period, the company received approval from the National Medical Products Administration for the injection of Mycophenolate Mofetil (specification: 0.5g) and obtained drug registration certificates for Nicorandil tablets (specification: 5mg) and Ketorolac Tromethamine injection (specification: 1ml: 30mg) [1] Shareholding Changes - On September 26, 2025, the company was notified by its controlling shareholder, Guangxi Wuzhou Zhongheng Group Co., Ltd. (hereinafter referred to as "Zhongheng Group"), about a capital increase agreement and share transfer agreement signed by its indirect controlling shareholder, Guangxi Investment Group Co., Ltd. (hereinafter referred to as "Guangxi Investment Group") [1] - Guangxi Investment Group plans to increase capital in Guangxi Investment Group Financial Holdings Co., Ltd. (hereinafter referred to as "Guangxi Financial Holdings") by transferring 859,343,587 shares of Zhongheng Group [1] - After the completion of this transaction, Guangxi Financial Holdings will become the indirect controlling shareholder of the company, while Zhongheng Group will remain the direct controlling shareholder, and the Guangxi State-owned Assets Supervision and Administration Commission will continue to be the actual controller of the company [1]

Core Insights - Laimei Pharmaceutical reported a revenue of 581 million yuan and a net loss of 45.91 million yuan for the first three quarters, with a third-quarter revenue of 204 million yuan and a net loss of 14.54 million yuan, indicating a reduction in losses year-on-year [2] Product Developments - The company achieved significant progress with multiple products, enhancing its product pipeline and market competitiveness [2] - Laimei received approval from the National Medical Products Administration for the injection of Mycophenolate Mofetil (0.5g) and registered two other drugs: Nicorandil tablets (5mg) and Ketorolac Tromethamine injection (1ml: 30mg) [2][3] Market Performance - Mycophenolate Mofetil is an immunosuppressant used to prevent acute organ rejection in kidney and liver transplant patients, with sales in China's hospital market projected to grow from 32.89 million yuan in 2022 to 60.59 million yuan in 2024 [2] - Nicorandil tablets, used for treating angina, are expected to see sales increase from 676 million yuan in 2022 to 873 million yuan in 2024 [3] - Ketorolac Tromethamine injection, indicated for moderate to severe postoperative pain, is projected to have sales of 2.643 billion yuan in 2022, decreasing to 898 million yuan by 2024 [3] Future Strategy - The company plans to focus on its strengths in niche markets, continue introducing new products, accelerate the market launch of newly introduced products, and enhance its innovation efforts to navigate opportunities and challenges in the pharmaceutical industry [3]