Analysis of the Impact of Zhong Sheng Pharmaceutical's (002317.SZ) Approval of Ambroxol Hydrochloride Oral Solution on the Company

Zhong Sheng Pharmaceutical announced on December 23, 2025, that Ambroxol Hydrochloride Oral Solution had been approved by the National Medical Products Administration [1][2]. This is a Class 4 chemical drug, deemed to have passed the Generic Drug Consistency Evaluation, and belongs to National Medical Insurance Category B [1][2]. In terms of market size, the total sales of this drug in domestic public hospitals and urban physical pharmacies grew steadily from 2022 to 2024, reaching 711 million yuan, 818 million yuan, and 850 million yuan respectively [1]. The company already has Chinese patent medicine products such as the Zhong Sheng Pill series in the respiratory system field; the approval of this chemical drug will further enrich its product line and enhance the completeness of its respiratory field layout [2][3]. On the day of the announcement, the company’s stock price rose by 1.94%, with a trading volume of 81.88M (higher than the previous trading day’s 31.60M), indicating a positive market response to the event [0].

1. Product Line Synergy
   : The approval of Ambroxol Hydrochloride Oral Solution expands Zhong Sheng Pharmaceutical’s respiratory product line from Chinese patent medicines to chemical drugs, realizing an integrated Chinese-Western medicine layout, which helps to improve the company’s overall competitiveness in the respiratory field.
2. Medical Insurance Policy Dividend
   : As a National Medical Insurance Category B drug, it has advantages in entering channels such as hospitals and pharmacies, with high potential market penetration.
3. Immediate Market Recognition
   : The rising stock price and increased trading volume reflect investors’ positive expectations for the company’s product line expansion and performance growth, but the specific impact needs to be judged based on subsequent sales and competition.

: The respiratory disease market size is growing steadily; the National Medical Insurance Category B attribute and passing the consistency evaluation facilitate the drug’s market entry; enriching the product line helps to improve the company’s competitiveness and market share at the clinical end.
: Actual sales performance may be affected by national centralized procurement policies; if the drug is included in centralized procurement, its price may decrease; the market competition pattern is not yet clear, so attention should be paid to competitors’ market share and pricing strategies; the specific extent of performance growth is uncertain and needs to be verified with subsequent sales data.

The approval of Ambroxol Hydrochloride Oral Solution by Zhong Sheng Pharmaceutical is an important layout in the respiratory system field, which will enrich the product line and enter the market with the advantages of medical insurance attributes and consistency evaluation. The market has reacted positively, but the long-term performance impact needs to consider policy, competition, and other factors. Investors should pay attention to the drug’s subsequent market promotion, sales situation, and changes in industry policies.

[0] Jinling Analysis Database
[1] East Money - Zhong Sheng Pharmaceutical’s Ambroxol Hydrochloride Oral Solution Receives Registration Certificate, Supported by National Medical Insurance Category B Attribute
[2] Tencent News - Zhong Sheng Pharmaceutical Obtains Registration Certificate for Ambroxol Hydrochloride Oral Solution
[3] PDF - Summary of 2024 Annual Report of Guangdong Zhong Sheng Pharmaceutical Co., Ltd.