Core Viewpoint - The company Xiaofang Pharmaceutical (603207) is officially entering the field of traditional Chinese medicine compound preparation new drug development by collaborating with Shanghai Dermatology Hospital to develop a new product for hair loss treatment [2][3]. Group 1: Collaboration and Product Development - Xiaofang Pharmaceutical has signed a cooperation agreement with Shanghai Dermatology Hospital to jointly develop a new drug, Compound Cèbǎi Tincture, aimed at treating various types of hair loss [2]. - The collaboration aims to obtain the new drug (Class 1.1) market approval from the National Medical Products Administration, involving preclinical research and clinical trials [2][3]. - The company will pay a total of 20 million yuan for technology transfer and support, with additional sales commissions after the product is launched [2]. Group 2: Market Potential and Strategic Focus - According to the National Health Commission, the number of people suffering from hair loss in China has exceeded 250 million, with a noticeable increase in younger demographics aged 20-40 due to economic and lifestyle pressures [2]. - The Compound Cèbǎi Tincture has been well-received by patients and shows promising development prospects, potentially becoming the first traditional Chinese medicine preparation for hair loss in China [3]. - Xiaofang Pharmaceutical has a strong focus on over-the-counter external medications and aims to expand its product pipeline while optimizing research and development structures to meet family health needs [3].

Core Viewpoint - The company, Shanghai Xiaofang Pharmaceutical Co., Ltd., focuses on the development, production, and sales of external-use medications, with a strong emphasis on non-prescription drugs and a commitment to enhancing market presence through brand innovation and strategic marketing efforts [5][10]. Company Overview - The company operates in the pharmaceutical manufacturing industry, primarily concentrating on the research, production, and sales of external-use medications [5]. - The company aims to provide a wide range of high-quality external-use medications that are easy to store and use, positioning itself as a household name for common ailments [10]. Market Trends - The aging population and increasing health awareness are driving demand for external-use medications, as older adults are more susceptible to skin and digestive diseases [6][7]. - The rise of e-commerce and online sales channels has improved the accessibility of external-use medications, significantly broadening the market reach [8][9]. - Government policies supporting the use and research of external-use medications are enhancing market conditions, making these products more affordable and accessible to patients [9]. Financial Performance - In 2024, the company achieved a revenue of 474.58 million yuan, a year-on-year increase of 0.57%, and a net profit attributable to shareholders of 205.27 million yuan, up 0.81% from the previous year [18]. - The total assets of the company reached 1.40 billion yuan, reflecting a growth of 96.79% compared to the beginning of the year, while the equity attributable to shareholders increased by 112.82% to 1.23 billion yuan [18]. Profit Distribution Plan - The company plans to distribute a cash dividend of 15.00 yuan per 10 shares (including tax), totaling approximately 240.84 million yuan, which represents 117.33% of the net profit attributable to shareholders for 2024 [3][4].

上海小方制药股份有限公司 Shanghai Xiao Fang Pharmaceutical Co.,Ltd. （发行人地址：上海市奉贤区洪朱路 777 号） 首次公开发行股票并在主板上市招股说明书 （申报稿） 保荐人（主承销商） （地址：深圳市罗湖区红岭中路 1012 号国信证券大厦十六至二十六层） 上海小方制药股份有限公司 招股说明书（申报稿） 重要声明 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发行 人注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其 对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任 何与之相反的声明均属虚假不实陈述。 根据《证券法》规定，股票依法发行后，发行人经营与收益的变化，由发行 人自行负责；投资者自主判断发行人的投资价值，自主作出投资决策，自行承担 股票依法发行后因发行人经营与收益变化或者股票价格变动引致的投资风险。 1-1-1 上海小方制药股份有限公司 招股说明书（申报稿） 本次发行概况 本公司的发行申请尚需经交易所和中国证监会履行相应程序。本招股说明书 不具有据以发行股票的法律效力，仅供预先披露之用。投资者应当以正 ...