Core Viewpoint - The company reported a decline in revenue and net profit for the first half of 2025, but demonstrated strong business resilience through continuous focus on first-generic drugs, accelerated innovative drug development, and the establishment of an intelligent production base, laying a foundation for long-term strategic transformation [2][3]. Financial Performance - In the first half of 2025, the company achieved revenue of 1.634 billion yuan, a year-on-year decrease of 1.30%, primarily due to adjustments in sales rhythm in certain regional markets [3]. - The net profit attributable to shareholders was 268 million yuan, down 7.83% year-on-year; however, the net profit excluding non-recurring gains and losses was 258 million yuan, with a reduced decline of 6.02%, indicating stable profitability of core drugs [3]. - Basic earnings per share were 0.56 yuan, a decrease of 8.20% year-on-year; the adjusted basic earnings per share were 0.54 yuan, down 6.90%, consistent with the trend in net profit [3]. Business Resilience - The company maintained profitability in its core business through cost control and product structure optimization amid the normalization of volume-based procurement [4]. R&D and Product Development - The company reinforced its first-generic drug advantage by adding 8 new products that passed consistency evaluation, including commonly used clinical drugs, increasing the total to 15 first-generic drugs across various therapeutic areas [5]. - Significant progress was made in innovative drug development, with FY101 injection receiving clinical trial approval and 3 new clinical approvals added to the pipeline, which now includes 103 projects for generic drugs and 4 for medical devices, totaling 107 projects [5]. - The company has 126 products included in the national medical insurance catalog, 54 in the essential drug list, and 12 products won volume-based procurement bids, ensuring market penetration and a stable sales base [5]. Production and Operational Strategy - The high-end drug industrialization project at the Kuangxian base has completed acceptance and is entering the production phase, significantly enhancing production capacity for high-end formulations [6]. - The smart support center for drug production has completed acceptance and is undergoing equipment debugging, which will improve production efficiency and reduce operational costs [6]. - The core subsidiary, Fuyuan Pharmaceutical, contributed a net profit of 68.69 million yuan, while Beijing Wansheng Renhe Technology Co., Ltd. achieved a stable net profit of 3.66 million yuan; Zhejiang Aisheng Pharmaceutical reported a short-term loss of 3.82 million yuan but is optimizing strategies for improvement [6]. Shareholder Returns - In the first half of the year, the company completed its A-share buyback plan, repurchasing 12 million shares (2.50% of total share capital) at an average price of 14.68 yuan per share, reflecting confidence in its own value [7]. - The profit distribution plan for 2024 has been implemented, with a dividend of 0.5 yuan per share, totaling 234 million yuan, continuing to fulfill its commitment to shareholder returns and enhancing market confidence [7].

报告期内，公司持续推进研发创新。仿制药方面，8个品种视同通过一致性评价，获得3项临床批件，阿昔莫司原料药 DMF转A，完成11个仿制 药申报；创新药方面，重点进行小核酸药物及核酸类药物递送系统的研发，其中FY101注射液项目获得药物临床试验批准。 资料显示，北京福元医药股份有限公司2022年6月30日上市，主要从事药品制剂及医疗器械的研发、生产和销售。 8月4日晚间，福元医药也披露了股价异动公告称，公司关注到近期市场对创新药业务关注较高， 公司的1类创新药FY101尚处于临床试验阶段， 试验能否成功还存在重大不确定性。 实际上，福元医药是以仿制药起家。据年报介绍，公司拥有多个国内首仿药物如复方α-酮酸片、奥美沙坦酯片、盐酸曲美他嗪片、氯沙坦钾氢 氯噻嗪片、盐酸莫西沙星片等。 截至报告期末，公司共获得制剂境内药品注册批件209个。公司产品纳入国家医保目录品种 共126个，其中医保甲类品种共48个，国家基本药物 目录品种54个；公司19个药品制剂主要产 品，均已被纳入国家医保目录。 二级市场上，截至18日收盘，福元医药股价站上31.61元/股高峰。 拉长时间线来看，自4月9日股价低点以来，不到四个月的时间内，公司 ...

Core Viewpoint - Beijing Fuyuan Pharmaceutical Co., Ltd. experienced a significant stock price fluctuation, with a cumulative closing price increase of 20% over three consecutive trading days from July 31 to August 4, 2025, which is classified as an abnormal trading situation according to the Shanghai Stock Exchange rules [2][3]. Group 1: Stock Trading Abnormality - The company's stock price increased by a cumulative 20% over three consecutive trading days, indicating abnormal trading activity [2][3]. - The company conducted a self-examination and confirmed that there were no undisclosed significant matters related to the stock price fluctuation [4]. Group 2: Company Operations and Major Events - The company's production and operational activities are reported to be normal, with no significant changes in the internal or external environment [4]. - The company confirmed that its controlling shareholder and actual controller have no undisclosed significant matters, including major asset restructuring or significant transactions [5]. Group 3: Market Sentiment and Media Reports - There has been increased market attention on the company's innovative drug business, particularly following the announcement of the clinical trial approval for its innovative drug FY101 [6]. - The company is currently in the I phase of clinical trials for FY101, with significant uncertainty regarding the trial's success [6]. Group 4: Other Relevant Matters - The company has not identified any other significant events that could impact its stock price, and there were no stock trades by directors, supervisors, or senior management during the abnormal trading period [7]. - The board of directors confirmed that there are no undisclosed matters that could significantly affect the company's stock price [11].

Core Viewpoint - Fuyuan Pharmaceutical (601089) has experienced a significant stock price fluctuation, with a cumulative deviation of 20% over three consecutive trading days, attributed to increased market interest in its innovative drug business [1] Company Summary - The company has received a clinical trial approval notice for its Class 1 innovative drug, FY101 injection, which is currently in the Phase I clinical trial stage [1] - There remains significant uncertainty regarding the success of the ongoing clinical trials for FY101 [1]

Core Viewpoint - The stock of Fuyuan Pharmaceutical has experienced an abnormal fluctuation, with a cumulative increase of 20% over three consecutive trading days, prompting the company to clarify its operational status and market conditions [1] Company Operations - The company and its subsidiaries are operating normally, with no significant changes in the internal or external environment [1] - There are no undisclosed major issues that require disclosure [1] Market Focus - The market has shown heightened interest in the company's innovative drug business [1] - The company's first-class innovative drug, FY101 injection, has received approval for clinical trial notification and is currently in the Phase I clinical trial stage [1] - There remains significant uncertainty regarding the success of the clinical trial [1]

Group 1 - The company Fengyuan Pharmaceutical (601089) is focusing on research and development, planning to increase R&D investment continuously [1] - The company's self-developed innovative drug FY101 injection is currently in Phase I clinical trials, with a target enrollment of 62 participants, of which 6 have been enrolled so far [1] - The company has received approval for 11 formulation varieties and 1 raw material drug this year, with 40 varieties under review by the National Medical Products Administration as of June 13, 2025 [1] - The failure to win the bid for the tenth batch of collective procurement of compound α-keto acid will have some impact on future sales, but it will not significantly affect the company's production and operations [1] - The company aims to expand sales in retail markets and other channels, leveraging continuous R&D to launch new products [1] - The retail market coverage includes top 100 chain pharmacies, regional chains, independent pharmacies, and community clinics nationwide [1] Group 2 - Pengyang Fund, established in 2016, has an asset management scale of 119.899 billion yuan, ranking 53rd out of 210 [2] - The asset management scale for non-monetary public funds is 106.687 billion yuan, ranking 45th out of 210 [2] - The fund manages 179 public funds, ranking 37th out of 210, with 24 fund managers, ranking 59th out of 210 [2] - The best-performing public fund product in the past year is Pengyang Beizheng 50 Index A, with a latest net value of 1.4 and a growth of 67.13% over the past year [2] - The latest public fund product raised by the company is Pengyang Heli Bond A, which is a mixed secondary bond type, with a subscription period from June 3, 2025, to September 2, 2025 [2]