Group 1 - The core point of the article is that Triangle Defense (SZ 300775) held its third board meeting of the fourth session on October 24, 2025, to discuss the proposal regarding not adjusting the conversion price of "Triangle Convertible Bonds" [1] - For the fiscal year 2024, Triangle Defense's revenue composition is as follows: special alloy forging accounts for 95.81%, while other segments account for 4.19% [1] - As of the time of reporting, Triangle Defense has a market capitalization of 14 billion yuan [1] Group 2 - The article also highlights that Chinese innovative drugs have generated $80 billion in overseas licensing this year, indicating a hot secondary market in biomedicine, while the primary market is facing fundraising challenges [1]

Group 1 - The core viewpoint of the article highlights the recent developments in Triangle Defense, including the announcement of the fourth board meeting and the composition of its revenue for 2024 [1] - Triangle Defense's revenue structure for the year 2024 is reported to be 95.81% from special alloy forging and 4.19% from other sources [1] - As of the report, Triangle Defense has a market capitalization of 13.2 billion yuan [1] Group 2 - The article also discusses the competitive landscape between Farmer and Yibao, indicating that Yibao's market share has dropped nearly 5 percentage points following the launch of Farmer's green bottle [1]