According to the Guotai Junan Research Report, the tenth batch of chemical pharmaceuticals is expected to launch and issue relevant rules in the fourth quarter, and enter the substantive bidding stage in the first quarter of 2025. Currently, there are 136 varieties that have not been included in collection and the competitive pattern is greater than 5 companies. The conditions for inclusion in the tenth batch of national collection are initially in place. The average price reduction for the 9 batches of 11 harvests that have already been implemented has reached 55%. There has been no significant fluctuation in the price reduction rate in the past two years, and the impact on performance is expected to be limited. The third batch and first batch of expanded procurement of the National Federation of Proprietary Chinese Medicine began reporting in October. Relevant collection documents may be issued in the fourth quarter, adding collection in Anhui and other provinces, and the collection category is expected to accelerate; Shandong Province is leading the collection of Chinese medicine tablets and is expected to release relevant documents in the fourth quarter, but the collection is difficult and the amount is not high, and the impact on performance is expected to be limited.

According to the Guotai Junan Research Report, the tenth batch of chemical pharmaceuticals is expected to launch and issue relevant rules in the fourth quarter, and enter the substantive bidding stage in the first quarter of 2025. Currently, there are 136 varieties that have not been included in collection and the competitive pattern is greater than 5 companies. The conditions for inclusion in the tenth batch of national collection are initially in place. The average price reduction for the 9 batches of 11 harvests that have already been implemented has reached 55%. There has been no significant fluctuation in the price reduction rate in the past two years, and the impact on performance is expected to be limited. The third batch and first batch of expanded procurement of the National Federation of Proprietary Chinese Medicine began reporting in October. Relevant collection documents may be issued in the fourth quarter, adding collection in Anhui and other provinces, and the collection category is expected to accelerate; Shandong Province is leading the collection of Chinese medicine tablets and is expected to release relevant documents in the fourth quarter, but the collection is difficult and the amount is not high, and the impact on performance is expected to be limited.