Core Viewpoint - Baiyunshan's subsidiary, Guangzhou Baiyunshan Hanfang Modern Pharmaceutical Co., Ltd., has received approval from the National Medical Products Administration for the listing application of structured triglycerides as a chemical raw material drug, indicating compliance with national drug review technical standards and enhancing the company's product competitiveness in the market [1] Group 1 - The approval allows Baiyunshan Hanfang to produce and sell structured triglycerides, which are key raw materials for various nutritional injection formulations [1] - Structured triglycerides are suitable for patients who cannot, insufficiently, or are contraindicated from oral or enteral nutrition, providing parenteral nutrition supplementation of fats [1] - The approval is expected to enrich Baiyunshan Hanfang's medicinal lipid raw material product offerings, further enhancing the company's market competitiveness in lipid raw materials [1] Group 2 - The approval of the chemical raw material drug listing does not have a significant impact on the company's current performance [1]

Core Viewpoint - The approval of the structural triglyceride by the National Medical Products Administration enhances the product portfolio of Guangzhou Baiyunshan Hanfang Modern Pharmaceutical Co., Ltd, improving its market competitiveness in lipid excipients, although it will not have a significant impact on current performance [1] Group 1 - Guangzhou Baiyunshan Hanfang Modern Pharmaceutical Co., Ltd received the approval notice for structural triglyceride from the National Medical Products Administration [1] - The raw material is a key ingredient for formulations such as structured fat emulsion injection (C6–24) and structured fat emulsion (20%)/amino acids (16)/glucose (13%) injection, which are used for parenteral nutrition fat supplementation [1] - The domestic sales revenue for these formulations is projected to be 1.157 billion yuan in 2024 [1] Group 2 - The company has invested approximately 4.05 million yuan in research and development for this project [1] - The approval will enrich the company's medicinal lipid excipient product offerings [1] - The impact of this approval on the company's current performance is not significant [1]