Welcome to the Summer Online Strategy Meeting held by Huayan Pharmaceutical and Lu Yandong. The host of this meeting is Mr. Tang Guochao, the chief of Huayan Pharmaceutical's team. This is a three-way communication between the listed companies. We are honored to invite Mr. Zhao, the company's leader, to communicate with us today. Today's communication is mainly divided into two parts, the company introduction and Q&A part.
First of all, let's welcome our company's leader, Mr. Zhao, to give an overview of the company's business situation and latest developments in 20 to 30 minutes. Welcome, Mr. Zhao. Okay, thank you, Lu Yunzhong platform, and thank you, Mr. Xiong, for the introduction. I am Zhao Xinyi, the head of the investor relationship of Sansheng Pharmaceutical. It's an honor to be able to discuss the latest performance of Sansheng Pharmaceutical with you online today. Thank you very much for your attention to Sansheng Pharmaceutical.
First of all, I would like to briefly introduce the current state of Sansheng Pharmaceutical. We will use Sansheng Pharmaceutical's 23-year annual record material as a basis to review the business and financial composition of the whole group. The first part is a full-year performance of Sansheng Pharmaceutical's 23-year annual record that we show to investors.
In 2023, our group achieved an income growth of about 14% and reached RMB78.2 billion. Our operating net profit is RMB19.5 billion, which is an increase of 17.7%, which is close to an increase of 18%. The financial resources of the entire group, including our cash and other usable funds, are in a state of RMB8.2 billion.
The internal business, R&D, and foreign exchange are all fully supported by the funds. From the perspective of the cash flow of the whole group, Fashion Pharmaceuticals is still the core of biopharmaceuticals. In 2023, our four core products will have an income of about 6 billion RMB and an increase of 14%.
In the field of hair and skin, we have a small-molecule tea product, Mandi, which is also a popular product in the market. In 2023, it reached 1.4 billion yuan, with an income of 26%, which is a very good business performance in the entire consumer sector.
The group still has a part of the income from the CDMO board. We have made about 5% growth in this 23-year environment. The income is 1.7 billion RMB. Looking at the margin of the entire core finance, we have an income of 24.5% from 2013 to 2023.
In terms of profit, the contribution of investors has increased by 32.1% year-on-year, which is a very impressive digital display for the development of the group. In terms of assets and investment returns, the group has also performed well.
From the business milestone of the group in 2023, we have a very good milestone in the field of blood flow, kidney, self-imaging and hair and skin. I won't introduce it in detail, but there will be corresponding information for everyone later. In terms of ESG, Samsung and Samsung Rocket have always been
In ESG, we have many social responsibility projects that have been involved for a long time, including the commitment to the environment, the treatment of patients, and the treatment of the poor. They are among the first companies to be launched in China. Next, I will report on the marketing performance of the core product of the group.
As you know, Tbio is one of the core bio-medicine varieties of Samsung. It is also the world's only commercialized plant-based product. In 2023, Tbio's sales revenue was 42.05 billion yuan, an increase of 23.8%. In terms of sales revenue, Tbio accounted for more than 65% of the market share.
For many years, it has been the leading market in the Chinese blood pressure board field. In terms of the coverage of the whole test, since 2005, we have approved the first test, that is, the blood pressure board reduced test caused by tumor chemotherapy, called CIP. After about 20 years of market development, we have obtained the original
In addition to this, we also have a wide coverage of clinical guidelines.
The CISCO guide is to recommend a high-level recommendation for the use of antibody-reducing drugs. In 2020-2021, we also got the expert consensus recommendation for the use of antibody-reducing drugs for liver disease. This means that the product has very good clinical recognition in terms of clinical effectiveness and safety. We also continue to expand our patient coverage.
From the earliest chemotherapy patients to the entire tumor treatment process, including chemotherapy and surgical TCP patients, this has played an important role in the expansion of the whole adaptive group. In the field of pediatric and liver disease, we are also continuing to add patient coverage. This is a very good patient base for future growth.
The next one is the second most important biological drug in the group, which is the vinegar red vinegar of the group, called EPO. In the whole of 2023, EPO had a sales increase of 9.4 billion. In the entire Chinese EPO market, we are also the No. 1 brand in terms of market share. In the entire domestic EPO field, we are the highest quality standard. Our EBIO has reached the standard of European drugstores and has been fully recognized by clinical trials.
We are at a very high level in terms of the whole standard of appearance. In terms of clinical treatment guidelines, our tumor adaptability field and our end-of-surgery adaptability have all been approved by the Medicine Bureau. In the 2023 version of the new version of Ebola, the end-of-surgery blood test is also included in the scope of Ebola coverage, opening up the potential market of tens of millions of people.
E-Cyp is a core variant of the Samsung Group's A-share listed company. In 2023, E-Cyp recorded a sales income of 5.6 billion yuan and increased by 10%. As E-Cyp's continued hospital coverage and academic promotion,
We see that the penetration rate of the entire brand in China's RA market continues to increase. In addition, we also added a new season in 2022. The sales in May also increased the selectable specifications of Kebio. And we continue to promote Kebio in the entire China's base level. There is a great improvement in the range. We think that ESAP can
We can see that E-Cypher has been doing well in Q1. We expect it to do well in the next period of time. Next is CypherDIN. In 2023, CypherDIN had a sales income of about 2.3 billion yuan. The increase was 41.8%, which is a very significant increase.
We think it is mainly due to the continuous two to three years of listing time. In the clinical application phase, more and more doctors recognized the effect of Cepdin's treatment in clinical. We gradually improved the three-line drug from the earliest time of listing to the first-line drug for hematopoietic late-stage bronchial cancer, which has the same treatment status as imported products. So currently, as the only
We have introduced more first-line patients on the entire surface of the patient's coverage. This is very helpful for the accumulation of medical evidence for the entire DOT and drug use. The number of hospital infiltrations and the number of patients in need is also increasing. We have also received the recognition of experts and medical insurance at the medical insurance side and the guidance side.
We expect there will be more market space in this category as well. Next, I would like to introduce you to Minodell, which is a well-received product by the group. Minodell is the only foreign-made OTC product in China. Minodell is the brand with the highest market share in the Minodell category.
With a sales revenue of more than 70% in the medical institution market, Minodell is still the number one drug in China. In 2023, Mandi recorded a sales revenue of 1.2 billion yuan at the end of the report. If we return to the end of the customer,
The increase of 25.8% in revenue was relatively weak in the past year. We think that Mandi, as an OTC drug that can be chosen to be consumed, has recorded a very good increase in performance. One of the reasons why people continue to pay attention to Mandi is that Mandi has a large market share in China.
Another one is the increase of Mandi's sales and the source of his driving force. First of all, from the mechanism of biochemical analysis, we can see that Milodil is a biochemical molecule that is recognized and effective all over the world.
On a global level, Fenaxione and Milodil have a significant effect on hair growth. We can see that, especially for young people,
So we can see that Minodeal's market growth in China is also very strong. As a Minodeal OTC brand under Sansheng Pharmaceuticals, Mandi continues to grow in terms of academic and medical institutions, as well as its own design form.
With our long-term professional investment, we gained wide recognition for the guide. Especially in 2023, we also received the highest level of recommendation on the guide for female bear hair. In terms of quality control of the entire product, we adopted
the world's highest standard of automated doctor production line can be stable in the production of the entire product. There is a high quality guarantee. In this recipe, we also have our own patent. We made a self-improvement and modification of Mendi's Minodeal machine, so that it can maintain the molecular stability at room temperature and not be oxidized by the air at the interface, so that it can provide patients
In the daily use process, even if there is no very professional and very careful storage, it can keep your second ear very well under room temperature. These are some of the advantages that we have gained from the attitude of a pharmaceutical company in the past.
We have built a good foundation on the amount of e-commerce in recent years. It is because of these qualities and the support of Sansheng for products that we have built a good foundation on the e-commerce side.
has been well-received by the platform and is highly recommended. So we can see that since 2019, during the high-speed development of China's e-commerce, our Mandi has also grown very fast on the e-commerce platform. We can see that until 2023, we still have a 35% increase in sales at the e-commerce end. These are all a continuous growth for Mandi, the driving force of the drive.
We have already covered more than 2 million, nearly 3 million consumers.
We have been paying a lot of attention to the whole perception, including the interaction with consumers' feedback. So we can see that in the form of the entire Mandi product, we have gradually developed from the earliest black male bottle design to now we may have more than 10 kinds of SQU products.
We are also using Mandi as a brand to continue to launch different new products, which is to build a whole product line around the Mandi brand. In China, in the field of hair care, whether it is medicine or hair care,
In January 2024, we were very happy to get the limited edition of Mandipomogi, which is also the only one in China.
We are very honored to get the OTC recognition at the same time as the approval. This is very helpful for our marketing and operation. The new bubble machine formula does not contain bicarbonate, because we saw that in the process of using it in the weather,
During the use of Mandicine, Chinese patients' scalp is allergic to Bicarbonate in the solution. We have made some improvements in this regard. Some patients who are not comfortable with Bicarbonate have more options.
And with the help of innovative technology, Milodil, which is a foam therapy, can shorten the cycle of hair growth compared to other therapies. This is a good choice for traditional therapy patients.
In terms of the form of product updates and the pace of the new medicine, we are the most powerful and wide-spread company in China in the field of hair and milodil.
We hope to meet the needs of more Chinese hair loss patients under the logic of the entire consumer e-commerce operation. Because we see that there are more than 200 million hair loss patients in China. It can make this product more convenient to use, more clear, and more suitable for use by people of all ages. It also means that it can get more patients' adoption on the entire penetration rate. So this is also what we need to do in the field of Mandi.
The next part is the business part of CDMO. Although this part is still in the early stage of the group's mass contribution, we can see from the operation results of the last two or three years,
We have 70% of customer retention rate, which means that the growth rate of the entire group is relatively stable.
Most of the customers are re-ordered from us. In 2023, we also have more than 60 new orders, a total of 200 million orders in total. We will continue to make a competitive guarantee for the entire team's business in the future. Our new production capacity and base are mainly concentrated in Shenyang. In the recent news report, we saw that there are also state-level leaders conducting an inspection at our Shenyang base.
In terms of guarantee supply, Sansheng's biofertilizer production line has a capacity of more than 76,000 units. Whether it is a domestic product or a product for local production, Sansheng's CDMO production line can provide enough production capacity and quality.
to make sure that more products can be transferred to local production and have a relatively low cost. This will form a mutual benefit and win-win situation for both sides.
Next is the new drug pipeline of the whole group. We can see that in the field of kidney, blood tumor, autoimmune, eye and skin hair loss, we all have this new candidate compound. In the progress of clinical trials, we can see that more and more products have gradually advanced to the third phase of clinical trials and later stages. So in the whole pipeline layout, we can see that there are more and more products starting from 2024.
will be pushed to a listing cycle. In terms of the contribution of the entire group's income, there will also be more and more new products. From the point of view of key products in some core areas, Shengke is currently a long-term EPO, and is preparing to submit the application for listing in the preparation of the NDA of Shenbao's listing. Our Yansan Nafla Feikou Bengpian Remix has already obtained the first
We are also promoting the 3rd phase clinical trial of liver disease oxidation, which is expected to be launched in the near future. China is a country of liver disease, and we see that there are more than 1 million people with liver disease oxidation targets. At present, there is no clear cure. We hope to be able to cover the people's history to the wider population of oxidation in China. In the field of blood type, our special child IGP has been
In the first half of this year, we have approved the introduction of the 370 bed, which reduces the risk of liver disease. We have also introduced the H-BOPAR liver rejuvenation agent, which is a small molecule product that coexists with the large molecule of TBL. We have a comprehensive coverage of more chronic diseases and patients with congenital diseases.
I believe investors who are interested in Guojian are very familiar with it. Our Baijie 17 is now in the post-phase of the 3rd phase clinical trial. We are striving to submit an NDA application in 2024. Our Baijie 1 Beta, which is a type of 613-Bank Account that treats pain and joint inflammation, has also advanced to the 3rd phase. Our Baijie 4 R611 product has also advanced to the 3rd phase on the first adult-specific PPA certification.
We are currently in the first phase of the clinical trial phase.
Since the beginning of 2024, there will be a lot of products in the market every year, which will enter the commercialization phase. There is a lot of expectation for the income contribution of the whole state-owned enterprise and Sansheng. Here, I would like to focus on the skin and hair industry of the group. We call Clark Houghton. His American business name is Van Levy.
This is a new type of anti-bacterial medicine approved by FDA for 40 years. The structure of the US market and the Chinese market is based on anti-bacterial and anti-inflammatory drugs.
These two types of products are easy to have a full-body side effect. FDA has been the first to approve VLAV in the past 40 years. It is an anti-wrinkle treatment drug that is used for AR points. It is applied twice a day to the wrinkle area on the face. In the process of partial absorption, it has very little effect on the whole body.
Since its launch at the end of 2021, it has received very good feedback in the United States. We can see that the sales of two complete years, 2022 and 2023, have exceeded 900,000 in the United States. We recently saw that it should be close to 1 million prescription. Basically, all American dermatologists have prescribed this drug.
in the U.S.
China's commercialization authority is promoting its three-phase cross-border clinical treatment. It should be preparing to start the three-phase cross-border clinical treatment in the near future. A lot of preparation work in the early stage, Andy's report work, and Huopi, we have all finished. We are preparing to introduce this patient into the group. We follow the requirements of the Drug Administration. Although it is an external emulsifier, it is a new molecular entity.
We are going to do a big trial clinical for nearly 700 patients. We are actively striving to promote this product to China in 2025. We are striving to get a safe, effective, and scientific treatment for Chinese young patients as soon as possible. We want to solve a lot of skin problems for young people.
This is a timetable for the overall momentum of the group's listing. As you can see, since 2023, HBOPA has entered the period of listing priority evaluation. Since 2024, 2025, and 2026, we have announced our commercialized sales every year. So we expect that the group's income structure will be diversified in the near future.
Next are some clinical data of core products. I will not go through them one by one. If you are interested in investing, we can share more detailed information. In terms of financial structure, I will show you the income and expenses of the entire group.
At the end of the year, we just had a summary. In terms of expenses, we see 3 times. In 2023, there will be a big fluctuation in financial expenses. Mainly because of the adjustment of the debt. In 2023, there will be some improvements. We will use some of the domestic financial debt to pay back the overseas European yuan. At this overlap stage, there will be some increases in expenses. We expect that there will be a
The cost of structural adjustment has decreased. As for other assets, since our debt is covered by European Yuan, our debt has not changed. In terms of cash flow and financial resources, it is very optimistic. There are more than 200 million cash flows every year. Financial resources are also constantly growing. So the whole group
In 2023, we saw that Mr. Lou and Mr. He gave us a very good return plan. In the annual report of 2023, we announced a double-digit policy for the PAC, which is 0.25 Hong Kong dollars per share, which is more than double compared to 2022.
We also provide a long-term, predictable, and stable return policy. From the current use to 2023, we have three key BTC transactions, including cooperation with Jishi Pharmaceuticals, cooperation with Wuhan Sian, and cooperation with Zhezheng Medical, which is very representative. These are services for our entire large-molecule CDMO base.
We have a comprehensive strategy on biopharmaceuticals, and we have a comprehensive strategy on the coverage of new additions on the test and test results of core products and the door-to-door certification of foreign language.
We also expect that in 2024, the whole group will continue to pay attention to BD, and there will be more new deals to land and share with investors. So in the future BD strategy of the whole group, we also made a report to investors. We are still focused on Samsung. There is a marketing coordination,
We are looking for pharmaceuticals that meet clinical needs. We are looking for pharmaceuticals that meet clinical needs. We are looking for pharmaceuticals that meet clinical needs. We are looking for pharmaceuticals that meet clinical needs. We are looking for pharmaceuticals that meet clinical needs. We are looking for pharmaceuticals that meet clinical needs. We are looking for pharmaceuticals that meet clinical needs. We are looking for pharmaceuticals that meet clinical needs.
We are also very happy to cooperate with our team on the OTC medicine operation in the field of hair and skin, which we are doing well at the moment.
to form a win-win situation with the other party in terms of BD or other forms of cooperation. We also hope that everyone will continue to pay attention to Samsung's business development. We hope to be able to share more transactions with you in the near future. That's basically my introduction to the group. Let's take a look at Mr. Xiong online.
and if investors have any questions, we can discuss further. Okay. Thank you, Mr. Zhao. Mr. Zhao has given us a very detailed overview of the company's basic situation. Now, let's move on to the Q&A session. I'd like to invite investors to interact with us in the Q&A section. I'd like to ask Mr. Zhao a question.
In fact, we can see that the income performance of the 23rd year is actually very bright. The market share is also relatively high. As you just showed, there is a 65% market share. What do you think of the sales of this product in the first quarter? And then, because we paid attention to the new certificate of child ITP approved in April, will this have a better impact on the annual sales? Thank you, Mr. Zhao.
Okay, let me first talk about the new test for TBL. TBL has been approved for the first half of this year. You may have seen the news. The increase in TBL, logically speaking, has a positive effect on the current tumor expansion of patients and the current liver disease.
In comparison, we think that the number of children in the department is not so large. Because the number of patients in the department, including the number of children, is relatively small. More than 10,000 new patients per year. And before the approval of the approval, it may also be a primary choice for children who are seriously ill.
The whole growth part, we think the stronger meaning is to be able to prove that the special drug is still a proven, safe and effective drug under very strict clinical supervision. Because we all know that the strictness of clinical management regulations and data requirements in China is very, very high. We can get this
that means that our drug can meet the highest standards in the country under the current clinical management system. Because we have to go to the market earlier, right? Our earliest 4-HT adhesive was approved in 2005. At that time, the whole clinical management standard may not be so strict. Is this drug not able to withstand the strict modern clinical management system? We are using some of these methods to
to answer this question. It is also a very strong endorsement for this product. In the next special policy, some medical insurance negotiations, in all aspects of this challenge, we can also give experts, give the market, give the policy maker a better explanation. This drug is really very good in clinical trials.
It is a very important raw material and a must-have medicine. This is what we think is the most important thing in the field of special medicine. From the perspective of the sales of the whole year, Q1 is a very good year for us.
The regulation of the use of drugs has increased control, especially as a medical care product. As a clinical drug, a lot of guidelines are first-line recommendations. In terms of clinical use, we don't have any challenges. So, under the logic of using drugs according to the regulations,
In addition to chemotherapy, we have also received the first-line recommendation of chemotherapy, immunotherapy and surgical patients. This is very helpful for us to open up our marketing growth. In addition to this, we believe that there is also a very important guarantee for our growth, which is that at the time of the 2022 medical insurance negotiation, there was a serious
In the course of clinical trials, the doctor found that if the patient's blood pressure has been determined, early intervention and treatment are often shorter, and the patient's life is more protected.
in
So we see that overall, it is still a rather complicated result that is formed jointly in all aspects. Yes, there is the use of the medical end, and there is also the reason for the policy payment, and there is also the reason for the use of the medical end.
So it should be a comprehensive result in terms of the performance of Tebio. In 2024 and 2023, we think the overall market pattern is the same. First, the price has not changed at all. Second, the group expansion of adaptability is still a continuous expansion. So our overall expectation for Tebio is relatively optimistic.
Okay, I understand. Thank you, Mr. Zhao. Mr. Zhao has also made a very detailed introduction to Tebiao. We also received a question from an investor. In fact, our company also has a lot of product layout in Shenbing. This investor is more concerned about the fact that in the market of Shenke, in fact, many Chinese medicine products are also sold very well. I would like to ask if the company will consider introducing some Chinese medicine products in BD.
I understand. In the field of Shenkou, we have actually evaluated some Chinese pharmaceuticals in the past. Because the entire science and technology coverage marketing system, because our EPO is the earliest in China, right? To make this breathable blood type is the previous generation of the old chairman, our old president, in China, put it on the ground, commercialize it, open the whole technical link, put this foreign brand,
This is a win-win for us. We are the backbone of Shenke. The two brands we have now, Chongzuren and Cuhongsu, are all short-term, but we are about to launch. As you can see in the introduction, there is also a long-term variety, and the color we introduced, Naflafe, is also a surrounding, breathable anti-oxidant treatment variety. So in this whole BO, we have alternative products
to continuously deliver products to the entire marketing system, which is relatively complete and complete. For other types of products in the entire Shenkei field, we also have a very open mindset. If this investor thinks it is more suitable for our product, we are also very welcome to be able to connect with us through the platform, through Xiongdong, we have an open contact mentality. Yes, this is very good and very helpful to us.
Okay, if there are any suggestions for future investors, you can also contact our team or Lu Yanzhong. Then we will communicate with Mr. Zhao. Mr. Zhao, I would like to ask about this year's sales cost level. How is the budget for the following 24 years? And how is our company's current sales team system built?
Yes, the whole group is a relatively large mature group. Our entire marketing team currently has 2,000 to 3,000 sales teams on the entire group level. Our management is divided into BOs, which is the core of this product and science and technology. For example,
The most important one is called PBO. It has more than 1,000 salespeople in the team, including the market and marketing. We call it EBO. It is a marketing team with a profound vision. It also has a team of hundreds of people.
For example, Mandi is a team of e-commerce team, OTC pharmacy team, and academic hospital team. She also has a team of hundreds of people. Overall, the logic is that the product is the core, and the science and technology is the core.
In 2023, we see that the overall level of the industry is basically the same. Some of our normal academic activities, some of our promotion activities are also under normal development. Some of the early examinations that we need to expand abroad are also being promoted gradually. So, in terms of the overall marketing fee rate, we don't think there will be a lot of changes compared to 2023.
Okay, I understand.
We have another question from an investor. He is concerned about whether Ethereum will be affected by the market crash. I understand his question. Ethereum has been affected by the market crash for many years.
In Fujian, we were able to turn things around with the new entrant. It was not easy to get in, but we got a good result in the Fujian market.
In 2022, the provincial league adopted E-Cyp in Guangdong. In the beginning, there were 10 provinces and 11 provinces, but in the end, only 4 plus 1, about 5 provinces really adopted E-Cyp.
After the announcement of the policy, we started to see the negative effects. From identifying the province, to announcing the quantity, to announcing the price, to the final voting, and then entering the hospital. In fact, we have seen the pressure of ECEP for at least two years.
From the perspective of the future development, we believe that if Jisai can expand, it will also represent the results of the Guangdong Alliance. In terms of ESIP sales, we can see that there is an increase in price, but there is also a decrease in price. We hope that there will be a more clear system of pricing and policies that will allow us to have a more comprehensive
In this way, we will announce the best value for the patient and the best value for the enterprise. From QE's financial report, we can see that Ethereum has achieved a good result.
The growth of more than 20% to nearly 30% has also fully digested the impact of the early Guangdong province. In the process of dealing with the recovery, we can see that some of the conditions achieved by ECIP are relatively good in some provinces and economies in Beijing. Therefore, we think that ECIP should be
a period of the most severe negative impact on the society in 2022. I see. From the current point of view, in 2022 and 2023, we should be in a relatively difficult period. In 2024, we should still be in a situation of a sudden rebound. Yes.
Okay, I understand. Currently, our R&D team is quite large. How many people are there in the R&D team? How is the distribution of each department? There are about 600 people in our R&D team. They will be based on different bases.
A large part of the research is done in China, in Shanghai. The other part of the research is done in Shenyang, in charge of EPO, TPO, and Hepatitis B. The other part of the research is done in Guangdong, in charge of biomedical research.
There should be a team of about 600 people in total. In fact, in many technical and quality control sessions, as you know, Zhang Jiang is China's first anti-theft drug manufacturer.
In many details, we also have people who are constantly iterating and optimizing, doing a lot of progressive work on the production of antibiotics. These are all covered by our R&D team. In total, we have about 500 to 600 R&D staff. I see. What is the budget for R&D this year?
In fact, we maintain a net profit of about 10% every year. If there are some products that have advanced to the mid-to-late stage of clinical trials, for example, there will be enough cash insurance for us to cover the cost of the certification and marketing expenses. In 2023, we will have a net profit of about 10%, half of which will be spent by Samsung, and the other half will be
I understand. At the moment,
What is the overall performance forecast for the whole year? We don't see any significant changes in the overall performance compared to the last two or three years. So, in terms of the overall performance of the group, we are confident that we can maintain more than double-digit growth in terms of revenue and profits.
Okay, I understand. Mr. Zhao, as you mentioned, there will be some new products in 2025 and 2026. Can you focus on these products for us? Okay, I think in terms of the period of certainty and time, we focus on the White Day period.
Guojian is also a very important self-sufficiency product. In China, due to the education and implementation of imported products, including our progress in clinical trials, we see that the number of patients and their demand is a state that makes us feel that the market demand may exceed the expectation. At present, we have completed three clinical trials.
We have achieved a very positive result in the core performance of the 12 weeks of the third phase. According to the requirements of CDE, we still have to finish the follow-up of 54 weeks before we can announce the listing. So we expect to finish the NDA submission before the end of this year. So in the ranking of the domestic 17A, we should be the third in China.
We believe that there is a wide market demand for this product, and the Chinese market can accommodate more than one brand, including foreign investment and domestic investment. In terms of the patient's choice, it is not like a tumor, its use cycle is one-to-one. Once this drug fails, I may have to change to a different drug for treatment on the second or third line.
In the field of self-immunization, in the field of skin cancer, whether it is a congenital disease or an AD, the patient may be effective for a certain drug, but as time goes by, as the immune system changes, it may not be effective for the next year or two.
If we want to launch a new product, we need to think about whether it is still the most cost-effective product or not.
For the first and second companies, after the launch of our Samsung, we can still bring more choices that are worth considering for the patients. Based on our large-scale production cost advantage and quality assurance, we believe that one more domestic product must be the best choice for the patients.
We think this is a very positive market. I see, I see. After these products are launched, these markets are also very promising.
I would like to ask you a question about Tebio. The market share of Tebio is quite high now. How will the company evaluate the quality of this product in the future? As for the quality of Tebio, a few years ago, we were still looking at whether we could get 300 million yuan. Then, it soon exceeded 300 million yuan in the market. One is that the blood vessel caused by tumor treatment in clinical trials
It is a very common and unavoidable situation. Therefore, it is a very urgent need for safe and effective antibiotics. Especially in the past two years, we have seen more and more new drugs in the field of tumor treatment, such as ADC. In fact, we have seen documents, and someone has done an analysis in this regard.
In fact, the wide application of ADC-type drugs has actually improved the incidence rate of leukemia patients, which means that the demand for special drugs in clinical practice is actually increasing. In addition, the expansion of the scope of treatment for chemotherapy patients and immunotherapy patients means that there is a greater application area. So for the quality of special drugs,
If we look at it from the perspective of quantity, there is only about 20% of coverage for the target group. There is still several times the space. If we look at it from the perspective of quantity, there is still several times the space. If we look at it from the perspective of quantity, there is still several times the space. If we look at it from the perspective of quantity, there is still several times the space. If we look at it from the perspective of quantity, there is still several times the space. If we look at it from the perspective of quantity, there is still several times the space. If we look at it from the perspective of quantity, there is still several times the space. If we look at it from the perspective of quantity, there is still several times the space. If we look at it from the perspective of quantity, there is still several times the space. If we look at it from the perspective of quantity, there is still several times the space. If we look at it from the perspective of quantity, there is still several times the space. If we
I understand. We are also very optimistic about the future of this product. It's almost time. Let's ask Mr. Zhao to do the final summary for us.
Thank you for giving me this opportunity, and thank you for your attention. We think that in the past, Samsung has provided a very stable platform for the group, both in terms of the development of Mandi and the growth of Tebio.
We believe that the growth of the group is very clear, and we believe that the growth of the group is very clear.
In addition, we have made a very clear commitment to the investors on the level of the chairman. We believe that the overall investment value of the group will continue to improve. We also hope that more investors will pay attention to the company. We hope to grow with professional investors in the field of biotech in China.
in the Chinese pharmaceutical industry. Thank you. Okay. Thank you, Mr. Zhao. Thank you, investors. If you have any questions, feel free to contact our Chinese pharmaceutical team. You can also contact Lu Yanzhong's team. We can have a deeper conversation with Mr. Zhao. Thank you. Goodbye. Okay. Thank you, everyone. Thank you, Lu Yanzhong's platform. That's all for today.