Group 1 - The core product HECN30227 is a first-in-class drug developed by the company, targeting both cccDNA and intDNA sources of hepatitis B surface antigen (HBsAg) with global intellectual property rights [1] - Preclinical data indicates that HECN30227 exhibits pan-genotypic activity, effectively reducing HBsAg levels and maintaining efficacy against nucleoside-resistant strains, outperforming clinical competitors in both in vitro and in vivo efficacy [1] - HECN30227 utilizes the company's unique HEC GalNova (N-acetylgalactosamine) liver-targeted delivery system, achieving precise and efficient liver delivery while significantly reducing off-target risks [1] Group 2 - Since 2022, the company has entered the small nucleic acid field, establishing a comprehensive R&D platform covering target discovery, sequence design and synthesis, chemical modification, delivery technology, and biological evaluation, positioning itself among the top tier in China [2] - The company has applied for over 50 patents and is developing more than 10 small nucleic acid pipelines across four major areas: anti-infection, cardiovascular-renal-metabolic, respiratory system, and oncology, with plans to advance multiple small nucleic acid drugs into clinical stages annually [2] Group 3 - Key preclinical products include a hepatitis B ASO, which is being developed alongside a "siRNA + ASO + immune modulator" triple therapy to comprehensively suppress HBV and HBsAg, showing superior efficacy compared to competitors [3] - The dual-target series aims to silence two pathogenic genes or multiple regions of the same gene, providing efficient solutions for complex diseases, with several molecules demonstrating strong and lasting activity in large animal models for conditions like hyperlipidemia and hypertension [3] - The company is also advancing dual-target pipelines for conditions such as MASH, as well as fat-targeting, lung-targeting, and antibody delivery (AOC) pipelines, with plans to progress these to clinical stages [3] Group 4 - The company is leading the innovation wave of small nucleic acid drugs in China through a comprehensive approach of "technology + pipeline + industrialization," with ongoing investments in the small nucleic acid technology platform to address unmet clinical needs [4]

Core Insights - Dongyangguang Pharmaceutical (06887) has announced the development of HECN30227, a first-in-class drug with global intellectual property rights, capable of eliminating both cccDNA and intDNA derived HBsAg, showing superior efficacy compared to clinical competitors [1] - The drug utilizes the unique HEC GalNova liver-targeted delivery system, which enhances precision and reduces off-target risks, with the first domestic subject enrolled in clinical trials [1] - HECN30227's combination therapy with the immunomodulator HEC191834 has been recognized as a "Poster of Distinction" at the 2025 AASLD annual meeting, indicating high international academic recognition for its clinical development potential [1] Research and Development - Since 2022, the company has entered the small nucleic acid field, establishing a comprehensive R&D platform covering target discovery, sequence design and synthesis, chemical modification, delivery technology, and biological evaluation, positioning itself among the top tier in China [2] - The company has applied for over 50 patents and is developing more than 10 small nucleic acid pipelines across four major areas: anti-infection, cardiovascular-renal-metabolic, respiratory system, and oncology, with plans to advance multiple small nucleic acid drugs into clinical stages annually [2] Clinical Pipeline - Key preclinical products include HECN30227 and a "siRNA + ASO + immunomodulator" triple therapy for hepatitis B, which shows superior efficacy compared to competitors [3] - The dual-target series aims to silence two pathogenic genes or multiple regions of the same gene, providing effective solutions for complex diseases, with several molecules demonstrating strong and lasting activity in large animal models [3] - The company is also advancing dual-target pipelines for conditions like MASH, as well as fat-targeting, lung-targeting, and antibody delivery (AOC) pipelines, with plans to progress these to clinical stages [3] Strategic Direction - The company is leading the innovation wave in China's small nucleic acid drugs through a "technology + pipeline + industrialization" strategy, focusing on building its small nucleic acid technology platform and addressing unmet clinical needs [4]

Group 1 - The core product HECN30227 is a first-in-class drug developed by the company, targeting both cccDNA and intDNA sources of hepatitis B surface antigen (HBsAg) with global intellectual property rights [1] - Preclinical data indicates that HECN30227 exhibits pan-genotypic activity, effectively reducing HBsAg levels and maintaining efficacy against nucleoside drug-resistant strains, outperforming clinical competitors in both in vitro and in vivo efficacy [1] - HECN30227 utilizes the company's unique HEC-GalNova liver-targeted delivery system, achieving precise and efficient liver delivery while significantly reducing off-target risks [1] Group 2 - Since 2022, the company has entered the small nucleic acid field, establishing a comprehensive R&D platform covering target discovery, sequence design and synthesis, chemical modification, delivery technology, and biological evaluation, positioning itself among the top tier in China [2] - The company has applied for over 50 patents and developed more than 10 small nucleic acid pipelines across four major areas: anti-infection, cardiovascular-kidney-metabolism, respiratory system, and oncology, with plans to advance multiple small nucleic acid drugs into clinical stages annually [2] - The company is leading the innovation wave in China's small nucleic acid drugs through a multi-faceted approach of "technology + pipeline + industrialization," aiming to address unmet clinical needs and provide globally competitive "China-made" treatment solutions [2]