Policy Developments - The National Medical Insurance Administration has issued a three-year action plan to enhance the efficiency of medical insurance fund settlement, aiming to complete annual settlements by March 31 each year starting in 2028, with settlement funds accounting for about 3% of the annual medical insurance fund allocation [2] Medical Device Approvals - Jiukang Bio has received a medical device registration certificate for its fructosamine testing kit, which is expected to enhance its product line in the in vitro diagnostic sector [5] - Yihuilong has obtained registration for its anti-phosphatidylserine/prothrombin IgM and IgG antibody testing kits, which will expand its automated chemiluminescence product line [6] - Kangzheng Pharmaceutical's oral JAK1 inhibitor, Povorcitinib, has been included in the "Breakthrough Therapy" list for treating non-segmental vitiligo in adults [7] Capital Market Activities - Fosun Pharma plans to invest a total of 1.412 billion yuan in Green Valley Pharmaceutical, acquiring a 53% stake through its subsidiary [9] - Paig Bio-Medical has announced a further extension of the lock-up period for cornerstone investors until April 30, 2026, and is raising approximately 296 million HKD for various strategic initiatives [10][11] Industry Developments - Nanjing has established a medical health merger and acquisition equity investment fund with a total investment of 800 million yuan, focusing on equity investment and asset management [13] - Zhenghai Bio has signed a 12 million yuan technical development contract with the Chinese Academy of Agricultural Sciences for the research and development of recombinant type III collagen products [14] - MicroPort Robotics has established a new medical technology company with a registered capital of 15 million yuan, focusing on the development and manufacturing of service robots [15] Public Opinion Alerts - Tongrentang has responded to allegations of false labeling regarding its Antarctic krill oil product, initiating legal action against the involved parties to protect consumer rights [17]

Core Viewpoint - 康哲药业's subsidiary 德镁医药 is seeking independent listing on the Hong Kong Stock Exchange and has received approval for clinical trials of povorcitinib for specific skin conditions [1] Group 1: Company Developments - 德镁医药 has been granted a clinical trial approval notice by the National Medical Products Administration (NMPA) of China on August 27, 2025, for povorcitinib [1] - The clinical trials will focus on the treatment of non-segmental vitiligo and moderate to severe hidradenitis suppurativa (HS) [1] Group 2: Product Information - Povorcitinib is a selective oral small molecule JAK1 inhibitor, with substance and use patents in specific countries/regions [1] - The drug is currently undergoing Phase 3 clinical trials for non-segmental vitiligo, HS, and nodular prurigo in several overseas countries, along with Phase 2 trials for asthma and chronic spontaneous urticaria [1]