Efficacy and Safety of 5% Minoxidil Foam in Female Androgenetic Alopecia

Inclusion Criteria: * Voluntarily participate in the study and be able to provide a written Informed Consent Form (ICF); * Female aged ≥ 18 years; * Investigator-diagnosed androgenetic alopecia; * Hair loss severity graded D3 to D6 on the Savin scale; * Willingness to maintain identical hairstyle, hair color, and hair length at each follow-up visit; * No pregnancy plans during the study and for 3 months post-last dose, with commitment to highly effective contraception. Women of childbearing potential must have negative serum pregnancy test ≤7 days prior to first investigational product administration Exclusion Criteria: * Study participants with known hypersensitivity to minoxidil or any excipient of the investigational product. * Study participants with known hair loss disorders other than androgenetic alopecia (AGA) * Study participants with any scalp disorder at screening that may interfere with efficacy evaluation, as determined by the investigator. * Lactating women * Study participants with history of hypotension or uncontrolled hypertension * Study participants with clinically significant abnormal laboratory findings at screening that may compromise efficacy and safety assessments, as determined by the investigator. * Study participants with clinically significant ECG abnormalities at screening * Study participants with history of malignancy prior to screening. * Study participants known to have conditions or disorders that may affect hair growth or compromise study results. * Study participants with history of using systemically administered therapeutic drugs prior to screening that may interfere with efficacy evaluation, etc. * Study participants with history of topical minoxidil application to alopecia-affected areas prior to screening. * Study participants with no response to prior minoxidil treatment for alopecia * Study participants with history of 5α-reductase inhibitor use prior to screening. * Study participants with history of spironolactone or cyproterone treatment prior to screening. * Study participants with history of autologous platelet-rich plasma (PRP) administration prior to screening. * Study participants with history of chemotherapy, cytotoxic agents, scalp radiation, and/or low-level laser therapy (LLLT) or surgical scalp procedures for FAGA prior to screening. * Study participants with history of using medical shampoos or solutions containing ingredients or other components that may interfere with efficacy evaluation prior to screening. * Study participants planning hair transplantation during the study period, or using hair weaving, non-breathable wigs, or hair bonding during treatment. * Study participants in other interventional clinical trials within 3 months before screening (excluding non-interventional studies and screen failures) , or planned concurrent clinical trial enrollment. * Study participants with history of major surgery within 3 months before screening or planning major surgery during the study period. * Study participants deemed by the investigator to have other conditions that may compromise compliance or render them unsuitable for the study.