[2 consecutive boards: Xiaofang Pharmaceutical: Drugs under development to treat hair loss are still in the preclinical research stage] On September 2, Xiaofang Pharmaceutical (603207.SH) issued an announcement of abnormal stock trading fluctuations. The company’s operating fundamentals have not changed. Its main business is the production, research and development and sales of external drugs. The products on sale are mainly household external drugs, and do not involve innovative drugs. The company is concerned about recent media reports about the company’s drug “Compound Platycladus Platycladus Tincture”, which is under development to treat hair loss. This drug is a Category 1.1 traditional Chinese medicine jointly developed by the company and Shanghai Dermatology Hospital. It is currently in the preclinical research stage and needs to submit a clinical trial application to the State Food and Drug Administration. There is uncertainty in subsequent research and development.