Q&A 请介绍一下公司 2025 年的整体业绩表现以及资产负债情况？ 2025 年，集团实现营业额约 147.45 亿元人民币，同比减少 10.7%。毛利为 70.91 亿元人民币，同比减少 9.7%，毛利率为 48.1%，较上年同期增长 0.5 个百分点。期内亏损约 4.58 亿元人民币，母公司持有人应占期间亏损约 3.42 亿元人民币，净利率为-3.1%。除中药饮片板块外，其余各业务板块的营业额 均有所回落。 截至 2025 年 12 月 31 日，集团流动资产为 177.08 亿元人民币， 较 2024 年末减少 6%；总资产为 323.47 亿元人民币，较 2024 年末减少 7.7%；总负债为 93.2 亿元人民币，较 2024 年末减少 16.3%。 2025 年度公司在各主要业务板块取得了哪些进展和亮点？ 2025 年，公司在各业务板块均有策略性调整和进展。 在中药材生产及经营板 块，面对中药材综合 200 指数同比下降 15.8%的市场环境，公司主动调整发 展重心，确立了"内部保供为主，外部经营为辅"的基调，优化业务结构，退 出高风险、低毛利业务，并通过成立供应管理中心与供应链平台公司统筹资源 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 CHINA TRADITIONAL CHINESE MEDICINE HOLDINGS CO. LIMITED 中 國 中 藥 控 股 有 限 公 司 （ 於 香 港 註 冊 成 立 之 有 限 公 司 ） （股份代號：570） 截至2025年12月31日止年度 全年業績公告 中國中藥控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然呈列本公司及其附屬 公司（統稱為「本集團」）截至2025年12月31日止年度（「報告期」或「本期」）之合併業績： | 業績摘要 | | --- | | | | 截至12月31日止年度 | | | --- | --- | --- | --- | | | 2025年 | 2024年 | 變動 | | | 人民幣千元 | 人民幣千元 | | | 營業額 | | | | | 中藥材生產及經營 | 829,724 | 1,386,669 | -40.2% | | 中藥飲片 ...

承董事會命 中國中藥控股有限公司 主席 楊軍 CHINA TRADITIONAL CHINESE MEDICINE HOLDINGS CO. LIMITED 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不會就本公告全部或任何部分內容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 570 董事會會議召開日期 中國中藥控股有限公司（「本公司」）謹此宣佈，本公司將於2026年3月20日（星期五）舉行董 事會（「董事會」）會議，藉以（其中包括）考慮及批准本公司及其附屬公司截至2025年12月 31日止年度之末期業績及其發佈，以及考慮派發末期股息（如有）。 香港，2026年3月10日 於本公告日期，董事會由十二名董事組成，其中楊軍先生、李鴻堅先生及彭力先生為執 行董事；劉海建先生、李向榮先生、祖敬先生、許京輝女士及黃灝先生為非執行董事； 及謝榮先生、余梓山先生、秦嶺先生及李偉東先生為獨立非執行董事。 ...

Group 1 - The core viewpoint of the article emphasizes the collaboration between Rio Tinto and CATL to explore opportunities in electrification, supply chain, and circular economy within the context of low-carbon transition [1][2][3] - The memorandum signed between the two companies focuses on advancing electrification applications in mining operations and exploring commercial pathways for battery material recycling and critical mineral resource circular development [2][3] - CATL will leverage its advantages in battery technology, system integration, and new energy solutions to help Rio Tinto enhance operational efficiency and promote carbon reduction and electrification processes [3] Group 2 - Rio Tinto is a leading global mining and metals company with over 150 years of history, involved in the exploration, extraction, and processing of minerals such as iron ore, copper, aluminum, and lithium [3] - The partnership aims to create globally demonstrative zero-carbon mining solutions to assist in the deep transformation of the global energy system [3]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2026年2月28日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 中國中藥控股有限公司 | | | 呈交日期: | 2026年3月2日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.2.0 FF301 II. 已發行股份及/或庫存股份變動及足夠公眾持股量的確認 1. 股份分類 普通股 股份類別 不適用 於香港聯交所上市 (註1) 是 證券代號 (如上市) 00570 說明 已發行股份（不包括庫存股份）數目 庫存股份數目 已發行股份總數 上月底結存 5,035,801,852 0 5,035,801,852 增加 / 減少 (-) 本月底結存 5,035,801,852 0 5,035,801,852 第 2 頁 共 10 頁 v 1.2.0 FF301 III.已發行股份及/或庫存股份變動詳情 足夠公眾持股量的確認(註4) | 根據《主板上市規則》第13.32D(1)條 ...

内容概况：中药饮片指中药材经过炮制后可直接用于中医临床或制剂生产使用的药品。中药饮片行业已 有数千年的历史，但我国古代传统药店为前店后厂模式，由药店自行加工原药材，自制成药或饮片自 售，中药饮片行业真正开始规范化和产业化是从新中国成立后才开始的。近年来，随着中医药发展战略 的推进以及扶持政策相继出台，中药饮片行业发展势头良好，市场规模不断扩大，并向着高质量发展新 阶段不断迈进。数据显示，中国中药饮片行业市场规模由2020年的1700.6亿元增长至2025年的2633.2亿 元，期间实现年复合增长率9.1%。我国已开展中药饮片集采，集采是淘汰落后产能、净化市场环境、 推动优质企业发展的"催化剂"，带来的不仅是市场环境的变化，更是经营逻辑的根本性重塑。回溯全国 中药饮片联采历程，2023年山东牵头的15个联盟地区对21种中药饮片进行集采，共有100家企业中选， 平均降价29.5%，最大降幅56.5%。2024年5月山东再次牵头，中药饮片采购联盟首次扩大到全国，共45 个临床常用品种被纳入。参与采购的医药机构数量接近3.2万家，需求量合计达到9700多万公斤。2025 年2月，全国中药饮片联盟采购（ZYYPLM-2 ...

Group 1 - Southbound funds increased their holdings in China Traditional Chinese Medicine (00570.HK) by 264,000 shares on February 23 [1] - Over the past five trading days, there were three days of net reductions in southbound fund holdings, totaling a net decrease of 15.602 million shares [1] - In the last 20 trading days, there were ten days of net increases in southbound fund holdings, with a total net increase of 19.712 million shares [1] - Currently, southbound funds hold 1.612 billion shares of China Traditional Chinese Medicine, accounting for 32.0% of the company's issued ordinary shares [1] Group 2 - China Traditional Chinese Medicine Holdings Limited primarily engages in the manufacturing and sales of traditional Chinese medicine [2] - The company operates through four divisions, focusing on the production and sales of traditional Chinese medicine formula granules, health products, and traditional Chinese medicine slices [2] - The Tianjiang division also provides healthcare solutions related to traditional Chinese medicine through offline medical institutions, including consultations and prescriptions [2] - The Tongjitang division is involved in the production and sales of traditional Chinese medicine formula granules, slices, and proprietary Chinese medicines, as well as various health products [2]

Group 1 - The merger talks between mining giants Rio Tinto and Glencore have officially ended, marking the third attempt in over a decade to combine forces, with the potential to create a company valued at over $200 billion [1] - Rio Tinto stated that after thorough due diligence and evaluation, it could not reach an agreement that would create long-term value for shareholders, leading to the decision to abandon the merger discussions [1] - Glencore responded by claiming that Rio Tinto's proposed terms significantly undervalued its potential contributions and did not offer a reasonable premium for control, while also rejecting Rio Tinto's insistence on retaining its current leadership positions post-merger [1] Group 2 - The failed merger attempt occurs against a backdrop of increased activity in the global mining sector, with mining deal values reaching a 13-year high in 2025, driven by rising demand for copper in electric vehicles, renewable energy, and data centers [2] - Standard & Poor's projects that annual copper demand from data centers will grow from approximately 1.1 million tons in 2025 to 2.5 million tons by 2040, indicating a potential supply gap of 10 million tons by 2040 if copper supply does not expand effectively [2] - Glencore has shifted its strategic focus towards copper business growth, aiming to double its annual copper production to 1.6 million tons by 2035 and become one of the largest copper producers globally within the next decade [2]

港股 中药股盘初强势，其中，中国中药一度涨超8%，目前回落至3%，位元堂涨5.8%， 同仁堂国药、 福森药业涨超1%， 白云山、同仁堂科技、吉林长龙药业跟涨。 ...

Core Insights - The Hong Kong Traditional Chinese Medicine (TCM) stocks showed strong performance, with China Traditional Chinese Medicine rising over 8% initially before settling at a 2.9% increase, while other stocks like Wei Yuan Tang and Tong Ren Tang Guo Yao also saw gains [1][2] Industry Developments - The Ministry of Industry and Information Technology, along with eight other departments, issued the "Implementation Plan for High-Quality Development of the TCM Industry (2026-2030)" [1] - By 2030, a collaborative development system for the entire TCM industry chain is expected to be initially formed, with enhanced stable supply capabilities for key TCM raw materials and significant improvements in digitalization and greening levels [1] - The plan emphasizes the use of artificial intelligence and big data to create knowledge graphs for classic formulas and experiences from renowned TCM practitioners [1] Policy Implications - Analysts view this plan as a systemic, long-term policy benefit for TCM stocks, marking a shift from "extensive growth" to "quality and value-driven" development [1] - The plan serves as a "general program" for the development of the TCM industry over the next five years, focusing on raising industry standards, encouraging innovation, and driving a profound supply-side reform [1]