Summary of Yara International Capital Markets Day - January 09, 2026 Company Overview - **Company**: Yara International (OTCPK:YARI.Y) - **Event**: 2026 Capital Markets Day - **Date**: January 09, 2026 - **Location**: Oslo, Norway Key Industry Insights - **Industry**: Fertilizer and Crop Nutrition - **Market Dynamics**: The nitrogen market fundamentals were discussed, highlighting the importance of nitrogen in crop production and the challenges faced by farmers in nutrient replacement [4][5][7]. Core Strategic Priorities - **Resilience and Growth**: Yara aims to strengthen resilience and grow sustainable returns through its business model and competitive advantages [3][16]. - **Safety Commitment**: Yara emphasizes a commitment to safety with a long-term ambition of zero accidents, despite a recent increase in accident rates [8][9][10][12]. - **Sustainability Goals**: The company is focused on reducing greenhouse gas emissions and optimizing nutrient use efficiency to support sustainable food systems [20][21][22]. Financial Performance - **Shareholder Returns**: Yara has distributed $5.5 billion to shareholders since 2020 and aims for significant growth in shareholder returns going forward [16][28]. - **EBITDA Improvement Targets**: Yara has set a target to improve EBITDA by more than $200 million by the end of 2027 and $350 million by the end of 2030 [27][28]. Production and Operational Excellence - **Production Capacity**: Yara achieved a production capacity of approximately 21 million tons of finished fertilizer, representing an 8% increase in volumes [57]. - **Investment in Production**: Significant investments are being made in expanding production capabilities, including a $50 million investment in Cartagena and a carbon capture project in Sluiskil [58][60]. Market Trends and Challenges - **Urea Market Dynamics**: The urea market saw demand-driven pricing in 2025, with strong sales in India and production issues in other regions affecting supply [38][39]. - **Natural Gas Prices**: Falling natural gas prices in Europe improved margins for producers, with expectations of increased LNG capacity in the coming years [46][47]. - **Carbon Pricing and CBAM**: The implications of the Carbon Border Adjustment Mechanism (CBAM) on European fertilizer prices were discussed, highlighting potential risks and uncertainties [32][33][49]. Technological Innovations - **Emission Reduction Technologies**: Yara has developed an N2O abatement catalyst that significantly reduces greenhouse gas emissions, contributing to the company's sustainability goals [21][22]. Conclusion - **Future Outlook**: Yara is well-positioned to navigate market uncertainties and capitalize on growth opportunities while maintaining a focus on profitability and sustainability [30][35][36].

Group 1 - The core viewpoint of the news is that Jingxin Pharmaceutical has shown a positive stock performance with a 5.22% increase year-to-date and a market capitalization of 17.195 billion yuan as of January 7 [1] - As of January 7, the stock price reached 19.97 yuan per share, with a trading volume of 1.28 billion yuan and a turnover rate of 0.89% [1] - The company has a main business revenue composition of 82.46% from pharmaceutical manufacturing and 17.54% from medical devices [1] Group 2 - As of September 30, the number of shareholders for Jingxin Pharmaceutical decreased by 13.08% to 22,300, while the average circulating shares per person increased by 15.05% to 32,438 shares [2] - For the period from January to September 2025, Jingxin Pharmaceutical reported a revenue of 3.048 billion yuan, a decrease of 5.00% year-on-year, while the net profit attributable to the parent company was 576 million yuan, reflecting a slight increase of 0.10% [2] - The company has distributed a total of 2.11 billion yuan in dividends since its A-share listing, with 801 million yuan distributed over the past three years [3]

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ （来源：医学界） 转自：医学界 在重度哮喘治疗迈入生物制剂时代的背景下，疾病的异质性仍是制约治疗应答与预后的关键挑战。近期，一项基于丹麦全国真实世界数据的研 究，通过长达26年的回顾性随访与轨迹聚类分析，首次系统识别出重度哮喘患者在接受生物制剂治疗前存在的三种典型疾病演进轨迹[1]。本 文特对此研究进行解读，以期为重度哮喘个体化、精准化的干预策略提供新视角与实践路径。 轨迹分野：三类演进路径定义异质性病程 该研究纳入丹麦重度哮喘登记系统中755例接受生物制剂治疗的患者，结合1995年至2022年的处方数据库与临床随访数据，通过吸入性糖皮质 激素（ICS）治疗强度序列分析与无监督轨迹聚类，识别出三类特征鲜明的疾病演进路径，深刻诠释了重度哮喘的异质性本质[1]。 第一类为"慢性重度型"（26%），患者呈现持续高炎症负荷特征：中位病程长达35年，是三类中病程最长的群体；肺功能损害最为严重，第1 秒用力呼气容积占预计值百分比（FEV1%pred）中位数仅64%；骨质疏松症、骨折、肥胖症等与糖皮质激素暴露相关的合并症发生率显著高于 其他群体，且就 ...

Core Insights - The second "Synthetic Biology Manufacturing Innovation and Entrepreneurship Competition" has seen a significant increase in project participation, with 338 high-quality projects from around the world, showcasing the growing resource aggregation and industry influence of Changde in the synthetic biology sector [2][3] - The competition theme "Creating Everything, Leading the Future" has successfully attracted attention across various channels, leading to a surge in participation from domestic and international teams [2][3] Group 1: Project Participation and Regional Impact - The competition has attracted 203 projects from core economic regions in China, accounting for 60.1% of total entries, indicating strong appeal to top teams in high-tech industries [3] - A total of 125 projects from the central and western regions were registered, with 100 from local teams in Hunan, reflecting the region's robust innovation capabilities [3] - International participation includes teams from the USA, Canada, Russia, and Denmark, enhancing the competition's global perspective and fostering new international collaborations [3] Group 2: Competition Structure and Innovation Mechanisms - The competition features a dual-track system with a Creative Group focusing on foundational research and a Growth Group emphasizing market-ready projects, covering the entire innovation chain [4] - The Creative Group received 153 project submissions, while the Growth Group attracted 185 projects, highlighting the integration of academia and industry [4][5] Group 3: Talent Development and Collaborative Networks - The event emphasizes the importance of talent and interdisciplinary support, with local universities like Hunan University of Arts and Science contributing to talent cultivation while also attracting external expertise [5] - The dual-track structure supports the establishment of a "Flying Research" collaborative innovation mechanism, enhancing Changde's innovation network [5] Group 4: Industry Focus and Future Prospects - The majority of projects are in the biopharmaceutical sector, with increasing interest in bioproducts and materials that meet market demands, supporting industrial upgrades [6] - The competition is expected to facilitate the formation of a biomanufacturing industry cluster in Changde, aligning with national strategies to strengthen advanced manufacturing in the central region [6] - The competition will enter the initial and semi-final stages, culminating in a final event in January 2026, where industry leaders and investors will gather to foster innovation and investment in Changde [6]

Core Viewpoint - The meeting held on November 22 aims to enhance the medical quality control and safety management capabilities of dermatology and venereology in Jinan, aligning with the Shandong Provincial Health Commission's 2025 goals for medical quality improvement [1][3]. Group 1: Quality Control Goals - The first core goal established is to increase the screening rates for immunosuppressants, biological agents, and small molecule targeted drugs before and during treatment for psoriasis, a prevalent chronic inflammatory skin disease [3]. - The second goal focuses on improving the standardized treatment rate for syphilis patients, emphasizing compliance with medication plans, complete treatment courses, and standardized follow-ups [3]. Group 2: Implementation and Management - The director of the quality control center, Wang Dajian, highlighted that the established quality control goals are crucial for enhancing the uniformity of dermatology and venereology diagnosis and treatment across the city [5]. - Wang Dajian called for clear division of responsibilities among member units, detailed implementation plans, and strengthened departmental collaboration to ensure the effective execution of quality control requirements [5]. - The meeting set a clear path for improving the quality of dermatology and venereology in Jinan, with the quality control center leading the implementation of measures and conducting regular evaluations to enhance standardization [5].

Core Insights - The 2025 (Lianyungang) Second Synthetic Biology Industry Development Conference opened in Guannan County, focusing on the theme "Synthetic Biology Creates the Future of Green Manufacturing" [1] - Over 250 experts and industry leaders from the synthetic biology field participated, aiming to foster collaboration and innovation in the industry [1] Event Highlights - The conference was co-hosted by the Chinese Society of Biotechnology and the Shanghai Society of Biotechnology, emphasizing both cutting-edge technology and practical development [1] - Significant initiatives were launched during the opening ceremony, including the unveiling of a science and technology innovation platform and the awarding of a pilot test platform [1] - Ten key projects in popular fields such as bio-based materials, bio-food, medical beauty raw materials, and bioreagents were signed on-site [1] Research and Discussions - Experts shared the latest research advancements on topics such as functional sugar cell factories, green manufacturing of aromatic compounds, and enzyme molecular engineering [1] - A roundtable forum discussed how synthetic biology technology can empower new production capabilities and its deep integration with AI technology, generating valuable insights for the development of the synthetic biology manufacturing industry in Lianyungang and nationwide [1]

Core Insights - The conference highlighted the importance of early prevention and standardized treatment for severe asthma to prevent progression to chronic obstructive pulmonary disease (COPD) and achieve "clinical cure" [1][2] Group 1: Disease Prevalence and Impact - Chronic respiratory diseases, including severe asthma and COPD, pose significant health threats in China, with over 45.7 million asthma patients aged 20 and above, of which 5%-10% are classified as severe asthma [1] - Nearly 100 million individuals suffer from COPD, making it the third leading cause of death in the country [1] Group 2: Treatment Challenges and Innovations - Many asthma patients remain undiagnosed or receive inadequate treatment, often misunderstanding that medication alone suffices, while inhaled corticosteroids and bronchodilators are crucial for effective management [2] - The introduction of biologics has provided new hope for the treatment of severe asthma, aiming for "clinical cure" and enhancing management strategies for respiratory diseases [2] Group 3: Healthcare System Initiatives - The Chinese government is advancing initiatives for early screening, diagnosis, and treatment of chronic respiratory diseases, improving the service system for managing asthma and COPD [2]

Core Insights - The theme for World Psoriasis Day 2025 is "Stop the Domino Effect," emphasizing the need for global awareness of psoriasis as a systemic immune disease and the importance of early intervention, comprehensive care, and equitable access to medical resources [1] Group 1: Disease Overview - Psoriasis is a chronic, recurrent, inflammatory, and systemic disease triggered by genetic and environmental factors, and it is non-contagious [1] - In China, there are nearly 7 million psoriasis patients, with about two-thirds developing the condition before the age of 40, impacting their education and employment [1] Group 2: Patient Challenges - Psoriasis patients often face significant mental stress and fear of disclosing their condition in academic and workplace settings, which can alter their career trajectories [1] Group 3: Treatment Insights - Long-term and stable disease control is crucial for psoriasis patients to return to normal learning and work environments [2] - Although psoriasis cannot be cured, international studies indicate that early use of appropriate biological agents can lead to up to 2.5 years of skin lesion remission with a standardized one-year treatment and long-term management [2] Group 4: Company Initiatives - Johnson & Johnson has launched an upgraded public welfare project and a survey on career development insights for psoriasis patients, supported by Minsheng Weekly [2] - The company emphasizes a patient-first approach, focusing on innovative treatment solutions and digital tools for comprehensive patient support throughout the treatment cycle [2]

Core Insights - JiuZhiTang has acquired a 51.6667% stake in Harbin JiXiangLong Biotechnology Co., Ltd. for RMB 2.1 billion and invested an additional RMB 1 billion, allowing JiXiangLong to be included in JiuZhiTang's consolidated financial statements [1][2] - JiXiangLong specializes in the research, production, and technical services of peptide-based generic drugs and innovative drugs, holding 10 production approvals for raw materials and 1 for formulations, with 8 products entering national procurement [1][2] - The acquisition enables JiuZhiTang to enter the peptide raw material drug sector, enhancing its product range and industrial chain layout [1][2] Company Overview - JiXiangLong is recognized as a national high-tech enterprise with a strong technical team and a comprehensive technology system in the peptide drug field, indicating significant growth potential and investment value [2] - JiuZhiTang is a pharmaceutical company that integrates research, production, sales, and health management, focusing on traditional and modern Chinese medicine, biopharmaceuticals, and health products [2] - The integration is expected to create synergies in production, sales channels, research, and technology, enhancing JiuZhiTang's competitiveness in the pharmaceutical sector [2] Market Implications - The deep integration of JiuZhiTang and JiXiangLong is anticipated to improve the company's risk resilience, profitability, and growth potential, with ongoing market attention on the integration effects and synergy value [2]

Core Viewpoint - Jingxin Pharmaceutical's stock has experienced fluctuations, with a year-to-date increase of 51.26% but a recent decline in the last five and twenty trading days [1][2]. Financial Performance - For the first half of 2025, Jingxin Pharmaceutical reported revenue of 2.017 billion yuan, a year-on-year decrease of 6.20%, and a net profit attributable to shareholders of 388 million yuan, down 3.54% [2]. - The company has distributed a total of 2.11 billion yuan in dividends since its A-share listing, with 801 million yuan distributed over the past three years [3]. Stock Market Activity - As of October 14, the stock price was 18.86 yuan per share, with a market capitalization of 16.239 billion yuan. The trading volume was 111 million yuan, with a turnover rate of 0.80% [1]. - The stock has appeared on the "龙虎榜" (a trading board for stocks with significant trading activity) once this year, with a net buy of 111 million yuan on July 4 [1]. Shareholder Information - As of June 30, 2025, the number of shareholders was 25,700, a slight decrease of 0.11%, with an average of 28,196 circulating shares per shareholder, an increase of 0.11% [2]. - The fifth-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 9.6492 million shares, a decrease of 15.3917 million shares from the previous period [3].