Group 1 - The company, Beijing Fuyuan Pharmaceutical Co., Ltd., has received a drug registration certificate for Amorolfine Hydrochloride Liniment from the National Medical Products Administration [1][2] - The drug is classified as a non-prescription chemical drug and is indicated for the treatment of fungal infections of the nails [2] - The total R&D investment for this drug has reached approximately RMB 3.9783 million (unaudited) as of the announcement date [2] Group 2 - The market data indicates that the sales revenue for Amorolfine Hydrochloride Liniment in China was approximately RMB 456.08 million in 2024, with significant contributions from various healthcare settings [2] - The approval of the drug registration certificate is expected to enhance the company's product line and market competitiveness [2]

Core Viewpoint - Fuyuan Pharmaceutical (601089) has received the drug registration certificate for Amorolfine Hydrochloride Solution from the National Medical Products Administration, indicating a significant advancement in its product portfolio aimed at treating fungal infections of nails [1] Company Summary - Fuyuan Pharmaceutical's wholly-owned subsidiary, Fuyuan Pharmaceutical Co., Ltd., has been granted the drug registration certificate for Amorolfine Hydrochloride Solution, which is intended for the treatment of nail infections caused by sensitive fungi [1] - The company received the acceptance notice for the application on January 2, 2024, and has recently obtained approval [1] - As of the announcement date, Fuyuan Pharmaceutical has invested a total of RMB 3.9783 million in the research and development of this drug [1] Industry Summary - According to data from Minet, the sales revenue of Amorolfine Hydrochloride Solution in China's three major terminal markets is estimated to be approximately RMB 456 million in 2024 [1]

Group 1: Company Overview and Investment Activities - The company is Hangzhou Baicheng Pharmaceutical Technology Co., Ltd., with stock code 301096 and abbreviation Baicheng Pharmaceutical [1] - The investor relations activities include online meetings and strategy sessions held from June 9 to June 20, 2025 [2] - Key participants include the Chairman and General Manager, Lou Jinfang, and the Financial Director and Board Secretary, Cheng Dandan [2] Group 2: Drug Development Progress - The company has multiple new drug pipelines, with 2 IND approvals for Class 1 new drugs targeting areas such as the nervous system and oncology [3] - The global market for central nervous system drugs exceeded $500 billion in 2023, with China's market at approximately ¥173.4 billion, indicating significant growth potential [3] - The central nervous system drug market in China is projected to grow from about ¥40 billion in 2025 to ¥200 billion by 2030 [3] Group 3: Specific Drug Projects - BIOS-0623 is a novel pain relief drug with advantages such as rapid onset and lower effective doses, showing superior efficacy compared to pregabalin [4] - BIOS-0632 is a strong AAK1 kinase inhibitor that demonstrates faster onset and better efficacy in diabetic neuropathic pain models compared to existing treatments [4] - BIOS-0629, a potential Best-in-Class second-generation XPO1 inhibitor, shows significant anti-tumor efficacy in various cancer models [5][6] Group 4: Market Trends and Opportunities - The global market for anti-tumor drugs reached $235.7 billion in 2023, with China's market at approximately ¥280 billion, driven by increasing cancer incidence [5] - The autoimmune disease drug market is expected to grow from $113.7 billion in 2018 to $176.7 billion by 2030, with a CAGR of 3.7% globally and over 20% in China [6][7] Group 5: Improved Drug Development - The company has over 20 projects in the improved drug category, with 11 receiving clinical approval, indicating a robust pipeline [10] - The market for improved drugs in China is expected to reach ¥560 billion by 2025, suggesting a favorable investment return [11][12] Group 6: Subsidiary Development - The subsidiary, Saimer Pharmaceutical, aims to become a global supplier of raw materials and formulations, with a production area of over 260 acres and 16.3 million square meters of GMP-compliant facilities [13][14] - Saimer has successfully registered 435 projects and has 49 products approved, showcasing its strong production capabilities [14] Group 7: CRO Business Status - The CRO/CDMO industry is experiencing a downturn due to cautious investment and increased competition, leading to a decline in orders [15][16] - Recent regulatory changes are expected to positively impact the CRO/CDMO sector, potentially restoring investment enthusiasm [16][17] Group 8: International Expansion Plans - The company is accelerating its internationalization efforts, establishing partnerships to enhance global resource connectivity [19] - Saimer has obtained the EU CEP certificate for minoxidil, marking a significant step in international business expansion [19]