Group 1: Zhongsheng Pharma - The core business of Zhongsheng Pharma has stabilized after experiencing centralized procurement, with innovative drug research and development gradually yielding results, particularly in respiratory and metabolic fields [2][4] - The company reported a revenue of 1.889 billion yuan for the first three quarters of 2025, a year-on-year decrease of 1.01%, while net profit attributable to shareholders increased by 68.40% to 251 million yuan [4] - The core products of traditional Chinese medicine have maintained stable growth post-collective procurement, with sales resilience supported by volume compensating for price reductions [4][5] - The innovative pipeline includes RAY1225 injection, a dual-target drug for weight loss and blood sugar reduction, which has shown positive results in clinical trials [5] Group 2: Medical Device Industry - The brain-computer interface (BCI) industry in China has achieved rapid development under policy support, with a focus on establishing a robust technological and industrial framework by 2027 [6][8] - The National Medical Products Administration held a meeting to discuss the advancement of BCI medical devices, emphasizing safety and effectiveness as primary considerations [17] - By 2030, the BCI industry aims to cultivate globally influential leading enterprises and a competitive industrial ecosystem, with significant advancements expected in technology and application [18]

Macro Research - The core viewpoint of the report indicates that the US economy showed resilience in Q3 2025, with a GDP growth rate of 4.3%, surpassing expectations of 3.3% and the previous value of 3.8% [3][20] - Key drivers of this resilience include strong personal consumption, increased public spending, and enhanced export contributions, with capital market wealth effects supporting consumer spending [3][20] - The report highlights a "K" shaped economic divergence, characterized by income disparities affecting consumption, varying business conditions between large and small enterprises, and differences in investment growth between new and old economies [4][21] Strategy Research - The report emphasizes that Chinese companies are entering a new phase of globalization, aiming to capture high-value segments of the global value chain [9][25] - It notes that the acceleration of Chinese enterprises going abroad is a strategic response to rising domestic costs and tightening external market access, which is essential for high-quality development [9][25] - The report predicts that the demand for capital goods in China will remain strong, driven by industrialization and infrastructure investment in emerging markets [11][27] Biopharmaceutical Research - The report discusses the release of the sixth batch of medical device procurement documents, indicating a moderate expected price drop and a favorable situation for domestic manufacturers to increase market share [13][29] - It provides specific data on the expected demand for various medical devices, highlighting the market shares of different companies in the procurement process [30][32] - The report maintains a "buy" rating for companies likely to benefit from the procurement, such as Lepu Medical and Mindray Medical [29][30]

Core Viewpoint - The company Guangdong Zhongsheng Pharmaceutical Co., Ltd. announced that its innovative drug, Angladiwei Tablets (brand name: Anruiwei), has been included in the National Medical Insurance Directory for 2025, which is expected to enhance market promotion and sales potential for the product [1][2]. Group 1: Product Information - Angladiwei Tablets are the world's first targeted drug for the PB2 subunit of the influenza A virus RNA polymerase, approved for treating adult patients with uncomplicated influenza [2]. - The drug is characterized by rapid action, strong efficacy, and low resistance, providing a cost-effective and accessible treatment option for patients [2]. Group 2: Market Impact - The inclusion of Angladiwei Tablets in the National Medical Insurance Directory is anticipated to positively impact the company's long-term operational development and market presence [2]. - Other core products of the company, including Lai Ru Te Wei Tablets and various other formulations, continue to be listed in the National Medical Insurance Directory, supporting the company's overall product portfolio [1].

格隆汇12月7日丨众生药业(002317.SZ)公告，2025年12月7日，根据国家医保局、人力资源社会保障部 发布的《关于印发以及(2025年)的通知》(医保发〔2025〕33号)，广东众生药业股份有限公司(以下简 称"公司")一类创新药物昂拉地韦片(商品名：安睿威)通过国家医保谈判，首次被纳入《国家基本医疗保 险、生育保险和工伤保险药品目录(2025年)》(以下简称"《国家医保目录》")。同时，公司核心产品来 瑞特韦片、复方血栓通胶囊、脑栓通胶囊、硫糖铝口服混悬液、羧甲司坦口服溶液、盐酸氮斯汀滴眼液 等继续入选本次《国家医保目录》。 昂拉地韦片(商品名：安睿威)是全球首款靶向甲型流感病毒RNA聚合酶PB2亚基的一类创新药，适用于 成人单纯性甲型流感患者的治疗，具有快速、强效、低耐药等特点，能够快速缓解全身流感症状、强效 抗击流感病毒，兼具低耐药性，于2025年5月获国家药监局批准上市。昂拉地韦片是公司呼吸管线的创 新药重要产品，本次成功纳入《国家医保目录》乙类范围，有望惠及更多患者，为患者提供经济、安 全、可及的用药选择。 ...

人民财讯12月7日电，众生药业（002317）12月7日公告，公司一类创新药物昂拉地韦片(商品名：安睿 威)通过国家医保谈判，首次被纳入《国家基本医疗保险、生育保险和工伤保险药品目录(2025年)》。同 时，公司核心产品来瑞特韦片、复方血栓通胶囊、脑栓通胶囊、硫糖铝口服混悬液、羧甲司坦口服溶 液、盐酸氮斯汀滴眼液等继续入选本次《国家医保目录》。 ...

每经AI快讯，12月7日，众生药业（002317）(002317.SZ)公告称，公司一类创新药物昂拉地韦片(商品 名：安睿威)通过国家医保谈判，首次被纳入《国家基本医疗保险、生育保险和工伤保险药品目录(2025 年)》。此外，公司核心产品来瑞特韦片、复方血栓通胶囊、脑栓通胶囊、硫糖铝口服混悬液、羧甲司 坦口服溶液、盐酸氮斯汀滴眼液等继续入选本次《国家医保目录》。 ...

证券代码：002317 编号：2025-013 广东众生药业股份有限公司投资者关系活动记录表 | | √ □特定对象调研 □分析师会议 | | --- | --- | | | □媒体采访 □业绩说明会 | | 投资者关系活动 类别 | □新闻发布会 □路演活动 | | | □现场参观 □一对一沟通 | | | □其他（ ） 平安证券股份有限公司、长城证券股份有限公司、东莞证券股 | | | 份有限公司、易米基金管理有限公司、东莞市私募基金业协 会、秋水高通私募基金管理（上海）有限公司、深圳市麻王投 资集团有限公司、盛世恒瑞（广东）投资有限公司、深圳市明 | | | 华信德私募证券基金管理有限公司、南通熙宁投资管理有限 | | | 公司、国城资本有限公司、广州中科粤创孵化器投资管理有限 | | | 公司、深圳市梦工场投资管理有限公司、广州明玥私募证券投 | | 参与单位及人员 | 资基金管理有限公司、东莞市哥们私募证券投资基金管理有 | | | 限公司、广东众帮投资有限公司、东莞市鼎和私募证券投资管 | | | 理有限公司、广西世安医疗科技有限公司、衣食住行私募证券 | | | 投资管理（广东）有限公司、东莞市 ...

Core Viewpoint - The company has reported a significant performance turnaround in its 2025 semi-annual report, exceeding market expectations with a revenue of 1.3 billion yuan and a net profit of 188 million yuan, marking a year-on-year increase of 114.96% [1][2]. Group 1: Financial Performance - The company achieved a revenue of 1.3 billion yuan and a net profit of 188 million yuan in the first half of 2025, reflecting a substantial year-on-year growth of 114.96% in net profit and 7.42% in non-recurring net profit [1][2]. - The revenue from traditional Chinese medicine products reached 689 million yuan, accounting for 53.03% of total revenue, while chemical drug sales amounted to 495 million yuan, representing a year-on-year growth of 6.10% [2]. Group 2: Business Strategy - The company's dual-driven strategy of "traditional Chinese medicine fundamentals + innovative drug breakthroughs" has effectively supported its performance improvement [2]. - The company is focusing on optimizing its operations through innovation in research and development, supply chain efficiency, and diversified sales channels to enhance competitiveness [3]. Group 3: Innovative Drug Development - The launch of the innovative flu drug, Anladiwei, has garnered significant market attention, with its first national sale completed on June 18, 2025, marking a breakthrough in the antiviral market [4]. - Anladiwei demonstrates superior antiviral activity, being over 50 times more effective than Maviroc and 1000 times more effective than Oseltamivir, addressing existing drug resistance issues [4]. - The company is also developing a chemical small molecule drug for respiratory syncytial virus (RSV) infections and a long-acting GLP-1 drug, RAY1225, which has received FDA approval for clinical trials in the U.S. [5][6]. Group 4: Market Opportunities - The innovative drug sector is supported by favorable government policies aimed at enhancing the development of the pharmaceutical industry, including expedited clinical trial approvals and improved insurance coverage for innovative drugs [7]. - The Chinese pharmaceutical market is projected to reach 2.24 trillion yuan by 2025, with innovative drugs expected to account for 30% of this market, indicating a significant growth opportunity for the company [8].

Core Viewpoint - Guangdong Zhongsheng Pharmaceutical Co., Ltd. reported a slight decline in revenue but a significant increase in net profit for the first half of 2025, indicating a strong performance in profitability despite challenging market conditions [1][2]. Financial Performance - The company achieved a revenue of 1.3 billion yuan in the first half of 2025, representing a year-on-year decrease of 4.74% [1]. - The net profit attributable to shareholders reached 188 million yuan, showing a substantial year-on-year growth of 114.96% [1][2]. Strategic Initiatives - The company has developed a mid-term strategic plan focusing on "traditional Chinese medicine as the foundation, innovation leading, and concentrating on specialty pharmaceutical health" in response to anticipated changes in policy and market environment [2]. - Strategic adjustments across the entire value chain include accelerating innovative research and development, optimizing supply chains to reduce costs, and diversifying sales channels while enhancing academic promotion and brand building [2]. Product Development - Traditional Chinese medicine remains the core business and a significant source of revenue growth, with key products like the Compound Xue Shuan Tong series and Nao Shuan Tong capsules expanding in chronic disease treatment [3]. - The company is focusing on deepening market penetration for selected products and enhancing retail business foundations to gradually improve operational performance [3]. Innovation and Market Expansion - The commercialization of innovative drugs and the market expansion of existing chemical drugs are key drivers of revenue growth, with notable products including the first Chinese oral antiviral drug for COVID-19 and a novel flu treatment [4]. - The company has made significant progress in the consistency evaluation of generic drugs, with 31 products passing the evaluation and 6 selected in national drug procurement, enhancing the market value of its chemical drugs [4].

Core Viewpoint - On August 19, Zhongsheng Pharmaceutical experienced an intraday increase of 8.36%, reaching a stock price of 24.88 yuan per share, with a trading volume of 1.238 billion yuan and a turnover rate of 6.81%, resulting in a total market capitalization of 21.146 billion yuan [1] Company Overview - Guangdong Zhongsheng Pharmaceutical Co., Ltd. is located in Dongguan City, Guangdong Province, and is a top 100 pharmaceutical company focusing on ophthalmology, cardiovascular, respiratory, and digestive treatment areas [1] - The company operates ten subsidiaries and four production bases, with major products including Compound Thrombus Capsule, Brain Thrombus Capsule, and Zhongsheng Pill [1] - Zhongsheng Pharmaceutical has 16 chemical drug products that have passed the consistency evaluation of generic drugs, with five products selected in the national centralized procurement [1] - The company has established a multi-level R&D system based on characteristic traditional Chinese medicine, high-end generic drugs, and innovative drugs, with the innovative drug Liratevir Tablets approved for market on March 23, 2023 [1] Financial Performance - For the period from January to March 2025, Zhongsheng Pharmaceutical achieved an operating income of 634 million yuan, a year-on-year decrease of 1.07%, while the net profit attributable to shareholders was 82.6118 million yuan, reflecting a year-on-year increase of 61.06% [1] - As of March 31, the number of shareholders of Zhongsheng Pharmaceutical was 91,100, with an average of 8,359 circulating shares per person [1]