Core Viewpoint - Shanghai Kaibao (300039.SZ) announced that it and its wholly-owned subsidiary, Shanghai Kaibao Xinyi (Xinxiang) Pharmaceutical Co., Ltd., have a total of 92 drugs included in the National Medical Insurance Directory, with 50 classified as Category A and 42 as Category B [1] Group 1: Drug Inclusion in National Medical Insurance Directory - The company has three exclusive products (Tanreqing Injection, Tanreqing Capsules, and Qishen Capsules) and one exclusive dosage form (Duo Suo Tea Alkaloid Capsules) continuing in the National Medical Insurance Directory (2025) [1] - The company's products Linggui Zhugan Decoction Granules, Yiguan Decoction Granules, and the subsidiary's Duo Suo Tea Alkaloid Tablets are included in the National Medical Insurance Directory (2025) [1] - The exclusive product Tanreqing Capsules remains in the National Medical Insurance Directory (2025) with a reimbursement standard of 4.09 yuan per (0.4g/piece), valid from January 1, 2026, to December 31, 2027 [1] Group 2: Changes in Drug Status - The subsidiary's products, Compound Robama Tablets and Baldness Pills, have been removed from the National Medical Insurance Directory (2025) [1] - Currently, the removal of the aforementioned products from the insurance directory has no substantial impact on the company's operating performance [1] - Other products' inclusion in the National Medical Insurance Directory (2025) remains unchanged compared to the National Medical Insurance Directory (2024) [1]

Core Viewpoint - Shanghai Kaibao (300039.SZ) announced that it and its wholly-owned subsidiary, Shanghai Kaibao Xinyi (Xinxiang) Pharmaceutical Co., Ltd., have a total of 92 drugs included in the National Medical Insurance Directory, with 50 classified as Category A and 42 as Category B [1] Group 1 - The company has three exclusive products (Tan Re Qing injection, Tan Re Qing capsules, and Qi Shen capsules from the subsidiary) and one exclusive dosage form (Duo Suo Tea Alkaloid capsules) that continue to be included in the National Medical Insurance Directory (2025) [1] - The company's products Ling Gui Zhu Gan Tang granules, Yi Guan Jian granules, and the subsidiary's Duo Suo Tea Alkaloid tablets are also listed in the National Medical Insurance Directory (2025) [1] - The exclusive product Tan Re Qing capsules remains in the National Medical Insurance Directory (2025) with a reimbursement standard of 4.09 yuan per (0.4g/piece), with the agreement valid from January 1, 2026, to December 31, 2027 [1] Group 2 - The subsidiary's products, Compound Luo Bu Ma tablets and Ban Hu Wan, have been removed from the National Medical Insurance Directory (2025), but this adjustment has no substantial impact on the company's operating performance [1] - Other products' inclusion in the National Medical Insurance Directory (2025) remains unchanged compared to the National Medical Insurance Directory (2024) [1]

Core Viewpoint - Shanghai Kaibao reported strong financial performance in the first half of 2025, with significant revenue and profit growth, alongside advancements in research and product development [1] Financial Performance - The company achieved operating revenue of 605 million yuan in the first half of 2025, with a net profit attributable to shareholders of 122 million yuan [1] - The net cash flow from operating activities was 160 million yuan, reflecting a year-on-year increase of 21.92% [1] Research and Development - In the first half of 2025, the company invested 54.41 million yuan in research and development [1] - The company obtained one invention patent, one utility model patent, and one design patent during the reporting period [1] Product Development - The company received drug registration certificates for its classic formulations, including "Guo Yi Jian Granules" and "Ling Gui Zhu Gan Decoction Granules" [1] - The "Tan Re Qing Capsules" received approval for a new indication for use in the treatment of mild symptoms related to COVID-19, such as fever, cough, and sore throat [1] - Subsidiary Xinyi Pharmaceutical obtained registration approval for "Doxofylline Tablets," further enhancing the company's product line and market competitiveness [1] Company Overview - Shanghai Kaibao is primarily engaged in the research, production, and sales of modern traditional Chinese medicine [1] - The company is recognized as a national high-tech industrialization demonstration project base for modern traditional Chinese medicine and is among the first batch of traditional Chinese medicine enterprises to pass the new GMP certification [1] - The company has established three main product lines: respiratory products represented by "Tan Re Qing Injection/Capsules," cardiovascular products represented by "Qi Shen Capsules," and digestive products represented by "Sulfapyridine Series" [1]