Core Viewpoint - A significant block trade occurred for Sichuan Zizhong Palace Pharmaceutical Co., Ltd. on November 3, with a transaction volume of 163,100 shares and a transaction value of 1.523 million yuan, reflecting a discount of 28.92% compared to the closing price of the day [2] Group 1: Block Trade Details - The block trade was executed at a price of 9.34 yuan per share, with the buyer being Tianfu Securities Co., Ltd. and the seller being Everbright Securities Co., Ltd. [2] - In the past month, the stock has seen a total of 2 block trades, amounting to a cumulative transaction value of 5.4999 million yuan [2] Group 2: Stock Performance - On the same day, the closing price of Zizhong Palace was 13.14 yuan, down by 1.50%, with a trading turnover rate of 5.54% and a total transaction amount of 82.0115 million yuan [2] - Over the last five days, the stock has increased by 6.14% [2] Group 3: Company Background - Sichuan Zizhong Palace Pharmaceutical Co., Ltd. was established on April 26, 2005, with a registered capital of 1,454.6338 million yuan [2]

证券代码：920566 证券简称：梓橦宫 公告编号：2025-122 四川梓橦宫药业股份有限公司 关于收到 6 个药品再注册批准通知书的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个 别及连带法律责任。 四川梓橦宫药业股份有限公司（以下简称"公司"）于近日收到四川省药品 监督管理局核准签发的 6 个《药品再注册批准通知书》，现就相关情况公告如下： 注意投资风险。 四川梓橦宫药业股份有限公司 董事会 2025 年 11 月 3 日 三、备查文件 （一）《药品再注册批准通知书》（编号：2025R092390） （二）《药品再注册批准通知书》（编号：2025R092427） （三）《药品再注册批准通知书》（编号：2025R092460） （四）《药品再注册批准通知书》（编号：2025R092428） （五）《药品再注册批准通知书》（编号：2025R092429） （六）《药品再注册批准通知书》（编号：2025R092461） 二、对公司的影响及风险提示 上述《药品再注册批准通知书》的取得对公司相关产品生产经营资质的稳定 延 ...

Core Insights - A block trade occurred for the company Zimu Palace (stock code: 920566) on November 3, 2025, with a closing price of 13.14 yuan per share [1] - The transaction price was 9.34 yuan per share, with a total volume of 163,100 shares, amounting to 1.523 million yuan, representing a discount of 28.92% [1] Company Summary - The buying brokerage was Tianfu Securities Co., Ltd., located at Nanchong Han'an Avenue [1] - The selling brokerage was Guotai Junan Securities Co., Ltd., located at Nanchong Park Street [1]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company achieved a revenue of 303 million yuan in the first three quarters of 2025, representing a year-on-year growth of 1.57%. However, the net profit attributable to the parent company decreased by 1.94% to 56.1 million yuan [6][10] - The third quarter of 2025 saw a significant improvement, with a revenue of 106 million yuan, a year-on-year increase of 6.7%, and a net profit of 20.7 million yuan, up 16.69% year-on-year, indicating a release of profit elasticity [6][9] - The growth in revenue is primarily driven by the stable performance of core products and the initial market penetration of new products [9][10] Summary by Sections Financial Performance - In the first half of 2025, the company reported a revenue of 197 million yuan, down 0.99% year-on-year, and a net profit of 35.4 million yuan, down 10.3% year-on-year. The gross margin was 76.47%, compared to 80.09% in the first half of 2024 [6][10] - The core product, cytidine diphosphate choline tablets, accounted for 75.23% of the main business revenue, providing stable cash flow [9][10] Growth Drivers - The company is expected to see continued revenue growth supported by new product launches and regional market expansion. The new products, including celecoxib capsules and oseltamivir phosphate capsules, are gradually gaining market share [9][10] - The Northeast market showed a revenue increase of 63.88% year-on-year in the first half of 2025, indicating successful regional expansion efforts [9] Profitability - The gross margin for Q3 2025 was 79.03%, showing a recovery from previous lows, while the net margin improved to 19.38%, up 1.92 percentage points year-on-year [9][10] - The company is expected to maintain a steady growth trajectory in revenue, with projected revenues of 441.53 million yuan, 506.48 million yuan, and 605.65 million yuan for 2025, 2026, and 2027, respectively, reflecting growth rates of 6.22%, 14.71%, and 19.58% [11][10] Valuation - The current market valuation corresponds to a price-to-earnings ratio (P/E) of 21.2, 20.3, and 19.3 for the years 2025, 2026, and 2027, respectively [10][11] - The company is expected to continue building its core product cluster, which will drive gradual improvement in performance [10]

Core Insights - The company reported a gross margin of 77.36% for the first three quarters, showing an improvement from the mid-year report, with a significant increase to 79.03% in the third quarter, indicating sustained profitability momentum [1] - The rise in gross margin reflects the company's strong technical foundation and comprehensive competitive strength in its products [1] - New products such as Celecoxib capsules and Oseltamivir phosphate capsules are rapidly gaining market traction, while prescription drugs have achieved breakthroughs in sales in Northeast China, solidifying the company's performance base [1] R&D and Production Capacity - The company has a robust R&D pipeline that supports its profitability, with clinical trials for innovative drug Maja Zizi capsules progressing steadily and other products like Vornorphan tablets nearing market launch [1] - The company is accelerating production upgrades, with the GMP expansion project in Neijiang initiated in March, leading to a significant increase in "other non-current assets" to 15.61 million, a year-on-year growth of 6565.56% [1] - The second phase of the production facility is expected to be fully completed by 2026, with partial production lines anticipated to be operational by the end of 2025, adding seven new product lines for gel formulations and soft capsules [1] Market Outlook - Open Source Securities expresses optimism regarding the company's R&D project potential and its positioning within the traditional Chinese medicine industry chain, projecting a return on equity (ROE) of 11.7% by 2026 and maintaining a "buy" rating for the company [2]

证券代码：920566 证券简称：梓橦宫 公告编号：2025-121 （二）披露标准 根据《北京证券交易所股票上市规则》相关规定，交易的成交金额占上市公 司最近一期经审计净资产的 10%以上且超过 1,000 万元的应当予以披露；上市公 司连续 12 个月滚动发生委托理财的，以该期间最高余额为成交额，适用上述标 准。 公司本次以自有闲置资金购买理财产品的金额为人民币 4,000.00 万元，截 止目前，公司使用自有闲置资金购买理财产品的未到期余额为 25,000.00 万元， 占公司 2024 年度经审计净资产的 31.98%，达到上述披露标准，现予以披露。 二、 本次委托理财情况 四川梓橦宫药业股份有限公司 关于使用自有闲置资金委托理财的进展公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、 授权委托理财情况 （一）审议情况 四川梓橦宫药业股份有限公司（以下简称"公司"）于 2025 年 10 月 9 日召 开第四届董事会第十五次会议及 2025 年 10 月 24 日召开 2025 年第三次 ...

《药品再注册批准通知书》（编号：2025R091426） 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个 别及连带法律责任。 四川梓橦宫药业股份有限公司（以下简称"公司"）于近日收到四川省药品 监督管理局核准签发的金泽冠心胶囊《药品再注册批准通知书》，现就相关情况 公告如下： 一、 药品再注册批准通知书的主要信息 | 序号 | 药品名称 | 剂型 | 规格 | | 药品批准文号 | 药品批准文号有效期 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 金泽冠心胶囊 | 胶囊剂 | 每粒装 | 0.32g | 国药准字 | 2030 年 月 | 11 | 16 | 日 | | | | | | | Z51021609 | | | | | 二、对公司的影响及风险提示 证券代码：920566 证券简称：梓橦宫 公告编号：2025-120 上述《药品再注册批准通知书》的取得对公司相关产品生产经营资质的稳定 延续具有积极意义。公司将严 ...

证券代码：920566 证券简称：梓橦宫 公告编号：2025-119 四川梓橦宫药业股份有限公司 2025 年第三次临时股东会决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间：2025 年 10 月 24 日 2.会议召开地点：公司会议室 3.会议召开方式：现场+网络方式 4.会议召集人：董事会 5.会议主持人：董事长唐铣 6.召开情况合法合规的说明： 本次股东会的召集、召开、议案审议程序符合《公司法》及有关法律、行政 法规、部门规章、规范性文件和《公司章程》《股东会议事规则》等有关规定。 （二）会议出席情况 出席和授权出席本次股东会的股东共 16 人，持有表决权的股份总数 37,650,601 股，占公司有表决权股份总数的 25.8832%。 其中通过网络投票参与本次股东会的股东共 5 人，持有表决权的股份总数 182,392 股，占公司有表决权股份总数的 0.1254%。 （三）公司董事、高级管理人员出席或列席股东会情况 1. 公 ...

上海天璇律师事务所（天法意第 202501105 号） 上海天璇律师事务所 关于四川梓橦宫药业股份有限公司 2025 年第三次临时股东会的 法律意见书 地址：上海市浦东新区五星路 676 弄御河企业公馆 49 幢 电话：021-58356786 信箱：postmaster@tigemlaw.com 二〇二五年十月 1 上海天璇律师事务所（天法意第 202501105 号） 上海天璇律师事务所 关于四川梓橦宫药业股份有限公司 2025 年第三次临时股东会的法律意见书 致：四川梓橦宫药业股份有限公司 四川梓橦宫药业股份有限公司（下称"公司"）2025 年第三次临时股东会（下称"本次股 东会"）于 2025 年 10 月 24 日召开。上海天璇律师事务所（下称"本所"）接受公司的委托， 指派祁冬、陈映池律师（下称"本所律师"）列席本次股东会，根据《中华人民共和国公司法》 （下称"《公司法》"）、《上市公司股东会规则》（下称"《股东会规则》"）以及《四川梓橦宫 药业股份有限公司章程》（下称"《公司章程》"）的规定，对本次股东会的召集和召开程序、出 席会议人员的资格、召集人资格、会议表决程序及表决结果事项进行验证，并出 ...

证券代码：920566 证券简称：梓橦宫 公告编号：2025-118 四川梓橦宫药业股份有限公司 第四届董事会第十六次会议决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间：2025 年 10 月 24 日 2.会议召开地点：公司会议室 3.会议召开方式：现场 本次会议的召集、召开、议案审议程序符合《公司法》等有关法律、行政法 规、部门规章、规范性文件和《公司章程》《董事会议事规则》等有关规定。 （二）会议出席情况 会议应出席董事 8 人，出席和授权出席董事 8 人。 二、议案审议情况 （一）审议通过《2025 年第三季度报告》 1.议案内容： 公司根据 2025 年第三季度经营情况汇总，严格按照北京证券交易所的《北 4.发出董事会会议通知的时间和方式：2025 年 10 月 21 日以书面方式发出 5.会议主持人：董事长唐铣 6.会议列席人员：财务总监易晓琦 7.召开情况合法合规的说明： 3.回避表决情况： 本议案不涉及关联交易，无需 ...