Glonghui, December 8 | Minsheng Securities Research Report points out that the insulin market has huge potential, and Tonghua Dongbao (600867.SH) is deeply involved in the diabetes industry. Existing products and pipeline products under development cover various types of products, such as long-acting, medium-acting, quick-acting, super-fast-acting insulin, double insulin compounds, GLP-1RA, long-acting GLP1RA, insulin analogue GLP-1RA compound preparations, multi-target innovative drugs, etc., which can meet the drug needs of different diabetics in the market, and the market space of the products will continue to expand. Considering that liraglutide has already been approved and that emgliflozine will be approved in the future, overseas insulins will also be approved for listing one after another, and Kexing Pharmaceuticals and Jianyou Co., Ltd. have reached a strategic overseas sales cooperation. It is expected to achieve rapid growth in revenue and profit, so maintain the “recommended” rating.