HAIXI PHARMA (02637) rose more than 7%, reaching an intraday high of HKD 230.4, a new record. At the time of writing, the stock was up 7.42% to HKD 228.8, with a turnover of HKD 53.3445 million. The move follows a recent announcement from HAIXI PHARMA regarding the latest progress of its next-generation original innovative drug project, HXP056, an oral treatment for fundus diseases. Analysis from Shenwan Hongyuan points out that Phase I clinical data for HXP056 indicates the drug has a favorable safety profile and tolerability. Preliminary improvements in fundus morphology and retinal function were observed in both treatment-naive and previously treated wAMD patients. HXP056 is currently in Phase II clinical trials, which are expected to conclude by the end of this year or early next year. Phase III trials are anticipated to commence in 2027. Preliminary clinical data released during this period could further validate the efficacy and safety of HXP056 in humans. Shenwan Hongyuan notes that HAIXI PHARMA has been profitable for five consecutive years through its generic drug business, with overall revenue and profit showing steady growth. Revenue for 2025 is projected to reach RMB 582 million, a 25% year-on-year increase, with net profit reaching RMB 177 million, up 30% year-on-year. Following this period of stable and sustained profitability, the company is aggressively advancing its innovative drug pipeline. Its most advanced candidate, C019199, is poised to enter Phase III clinical trials. Meanwhile, HXP056, which has the potential to become a global blockbuster drug, is approaching a critical data verification stage.