Financial Performance - In the first half of 2025, the company achieved operating revenue of CNY 1.869 billion, a decrease of 12.56% year-on-year [3] - Operating profit was CNY 347 million, down 15.22% year-on-year [3] - Net profit attributable to shareholders was CNY 308 million, a decline of 9.26% year-on-year [3] - Earnings per share were CNY 0.3116, down 9.26% year-on-year [3] - The gross profit margin was 63.16%, an increase from 54.8% in the previous year [5] Revenue Breakdown - Revenue from formulations was CNY 1.127 billion, a decrease of 7.2% year-on-year [3] - Revenue from raw materials and intermediates was CNY 730 million, down 20% year-on-year [3] - Sales of gynecological and family planning formulations were CNY 207 million, down 11% year-on-year [4] - Sales of respiratory formulations increased by 13% to CNY 446 million [4] - Sales of generic drugs decreased by 23% to CNY 230 million, primarily due to regional procurement impacts [4] R&D and Innovation - R&D expenses for the first half of 2025 were CNY 126 million, with a R&D expense ratio of 6.7% [7] - The company is transitioning from traditional generics to high-barrier formulations, facing challenges but aiming for innovation [7] - New product approvals include several formulations and a focus on high-value sterile raw materials [8] Shareholder Returns - Total dividends distributed over the first five years since listing amounted to CNY 1.187 billion, with CNY 890 million in the last three years [6] - For the first half of 2025, the company plans to distribute CNY 98.92 million in cash dividends [6] Market Outlook - The raw material market is experiencing a downward price trend, impacting revenue and profits [8] - The company aims to enhance competitiveness by developing high-value raw materials and expanding hormone categories [8] Product Development - The company is actively pursuing new product registrations, including a long-acting analgesic injection and a new inhalation spray [9][11] - Sales of certain products, such as the progestin injection, have seen significant growth, with a 30% increase in sales for the first half of 2025 [13] Strategic Focus - The company is focused on building a capable sales team to support the commercialization of innovative drugs [18] - The impact of national procurement policies on product sales is being monitored, with a gradual reduction in overall impact as more products are included in procurement [19] - Future plans include expanding export capabilities and ensuring compliance with international registration requirements [20]

Group 1 - Xianju Pharmaceutical closed at 11.42 yuan on August 25, down 0.61% from the previous trading day, with a trading volume of 381,572 hands and a transaction amount of 437 million yuan [1] - The company operates in the chemical pharmaceutical industry, focusing on the research, production, and sales of active pharmaceutical ingredients and formulations, covering areas such as corticosteroids, sex hormones, and anesthetic muscle relaxants [1] - On August 22, Xianju Pharmaceutical announced that its Dexamethasone Acetate Tablets (0.75mg) passed the consistency evaluation of generic drug quality and efficacy, primarily used for the treatment of allergic and autoimmune inflammatory diseases [1] Group 2 - On August 25, data showed that the net outflow of main funds from Xianju Pharmaceutical was 7.55 million yuan, accounting for 0.07% of the circulating market value, while the net inflow over the past five days was 131.78 million yuan, accounting for 1.17% of the circulating market value [1]

Policy Developments - The National Healthcare Security Administration held a training session on accelerating the construction of a long-term care insurance system, emphasizing the need for a unified and independent insurance model, multi-channel funding, and digital management to enhance service efficiency [2] Drug and Medical Device Approvals - Kangyuan Pharmaceutical received clinical trial approval for its Jin Zhen oral liquid to treat children's influenza, indicating a promising market outlook for this pediatric traditional Chinese medicine [4] - AstraZeneca's Datroway® was approved for use in treating hormone receptor-positive, HER2-negative breast cancer in adults who have previously undergone endocrine therapy and at least one line of chemotherapy, based on positive results from a global Phase III study [5] - Xianju Pharmaceutical's dexamethasone acetate tablets passed the consistency evaluation for generic drugs, which will enhance the company's market competitiveness [6] Financial Reports - Pian Zai Huang reported a 4.81% decline in total revenue to 5.379 billion yuan and a 16.22% decrease in net profit to 1.442 billion yuan for the first half of 2025, while advancing multiple new drug projects [8] - Wandong Medical achieved a 20.46% increase in revenue to 843 million yuan, but net profit fell by 39.46% to 51.3 million yuan, despite a 59.16% rise in R&D investment [9] - Huangshan Capsule reported a 3.66% increase in revenue to 244 million yuan and a 19.78% rise in net profit to 35.6 million yuan for the first half of 2025 [10] Capital Markets - Kexing Pharmaceutical announced plans to list on the Hong Kong Stock Exchange to enhance its international competitiveness and optimize its capital structure [12] - Tongce Medical acquired a 100% stake in Shanghai Congji Dental Clinic for 46 million yuan, aiming to enhance brand presence in the high-end market [13] Industry Developments - China's pharmaceutical industry ranks second globally, with approximately 30% of the world's innovative drugs under development, reflecting significant growth driven by policy, technology, and capital influx [15]

Group 1 - The company has received approval from the National Medical Products Administration for the acetyl dexamethasone tablets, which have passed the consistency evaluation of quality and efficacy for generic drugs [1][2] - The approved specification for the acetyl dexamethasone tablets is 0.75mg, with the drug approval number being H33020822 [2] - Acetyl dexamethasone tablets are corticosteroids primarily used for allergic and autoimmune inflammatory diseases, including connective tissue diseases, severe bronchial asthma, dermatitis, ulcerative colitis, acute leukemia, and malignant lymphoma [1][2] Group 2 - The approval of acetyl dexamethasone tablets is expected to strengthen and enhance the product's market competitiveness, providing valuable experience for the company's future consistency evaluation work [2]

Core Viewpoint - Xianju Pharmaceutical has received approval from the National Medical Products Administration for its Acetate Dexamethasone Tablets, indicating successful consistency evaluation of quality and efficacy for generic drugs [1] Group 1 - The company announced the receipt of the approval notice for the drug supplement application for Acetate Dexamethasone Tablets [1] - The approval notice is identified by the number 2025B03820 [1] - The drug has passed the consistency evaluation for quality and efficacy as a generic medication [1]

醋酸地塞米松片为肾上腺皮质激素类药，主要用于过敏性与自身免疫性炎症性疾病。如结缔组织病，严 重的支气管哮喘，皮炎等过敏性疾病，溃疡性结肠炎，急性白血病，恶性淋巴瘤等。 格隆汇8月22日丨仙琚制药(002332.SZ)公布，公司于近日收到国家药品监督管理局核准签发的关于醋酸 地塞米松片的《药品补充申请批准通知书》(通知书编号：2025B03820)，公司醋酸地塞米松片通过仿制 药质量和疗效一致性评价。 ...

Core Viewpoint - Xianju Pharmaceutical (002332) has received approval from the National Medical Products Administration for its Acetate Dexamethasone Tablets, which have passed the consistency evaluation of quality and efficacy for generic drugs [1] Group 1: Company Information - The Acetate Dexamethasone Tablets are classified as adrenal cortex hormones and are primarily used for allergic and autoimmune inflammatory diseases [1]

Core Viewpoint - The company has received approval from the National Medical Products Administration for its dexamethasone acetate tablets, which have passed the consistency evaluation of quality and efficacy for generic drugs [1] Group 1: Company Information - The dexamethasone acetate tablets are classified as corticosteroids and are primarily used for allergic and autoimmune inflammatory diseases such as connective tissue diseases, severe bronchial asthma, dermatitis, ulcerative colitis, acute leukemia, and malignant lymphoma [1]