智通财经APP讯，康臣药业(01681)公布，执行董事朱荃教授因有意在其他事务上投入更多时间，已调任 为非执行董事，自2025年9月25日起生效。 ...

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的內容概不負責，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所產生或因依 賴該等內容而引致的任何損失承擔任何責任。 （於開曼群島註冊成立的有限公司） （股份代號：1681） 董事調任 朱教授與本公司訂立為期三年之服務協議，自其獲委任日期起開始，期滿後可續 期，並須根據本公司組織章程細則於股東周年大會上輪席退任及重選。朱教授有 權收取年薪人民幣700,000元，另加以股份為基礎的付款及酌情花紅，有關金額將 由董事局根據其職責、工作量、投放於本集團的時間及本集團的表現，並經董事 局薪酬委員會推薦而釐定。於本公告日期，朱教授持有448,000份有權購買本公司 股份的購股權。 本公告由康臣葯業集團有限公司（「本公司」）根據香港聯合交易所有限公司（「聯交 所」）證券上市規則（「上市規則」）第13.51(2)條作出： 本公司董事（「董事」）局（「董事局」）宣佈，執行董事朱荃教授（「朱教授」）因有意 在其他事務上投入更多時間，已調任為非執行董事，自2025年9月25日起生效。 朱教授的履歷詳情載列如下： 朱荃教授，85歲，於201 ...

(Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） (Stock code / 股份代碼： 1681 ) 通 知 信 函 各位非登記持有人 (附 註 1) ： 康臣葯業集團有限公司（「本公司」） – 2025 中期報告（「本次公司通訊文件」）之發佈通知 本公司的本次公司通訊文件備有中、英文版本，並已上載於香港聯合交易所有限公司（「 香港交易所」）網站（www.hkexnews.hk）及 本公司網站 www.chinaconsun.com，歡迎瀏覽。 閣下若因任何理由以致在收取或接收載於本公司網址上的本次公司通訊文件出現困 難， 閣下可將要求（註明 閣下的姓名、地址及要求）以電郵方式發送到本公司之電郵地址 consunpharma.ecom@computershare.com.hk 或以書面方式郵寄致本公司的香港股份過戶登記分處（「股份過戶分處」）香港中央證券登記有限公司，地址為香港灣仔皇后大道東 183 號合和中 心 17M 樓。本公司將於接到 閣下通知後，盡快向 閣下免費發送有關本次公司通訊文件的印刷本。 ...

各位登記股東： 康臣葯業集團有限公司（「本公司」） – 2025 中期報告（「本次公司通訊文件」）之發佈通知 (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） (Stock code / 股份代碼： 1681) 通 知 信 函 如 閣下對本函件有任何疑問，請於辦公時間星期一至五（香港公眾假期除外）上午 9 時正至下午 6 時正（香港時間）其間致電股份過戶分處(852)2862 8688 查詢。 請注意，所有日後公司通訊的英文版和中文版將在本公司網站 www.chinaconsun.com 及香港交易所網站 www.hkexnews.hk 上提供，以代替印刷 本。 徵集電子聯絡資料 為確保未來及時收到最新的公司通訊，本公司建議 閣下透過掃描本函隨附之回條（「回條」）上列印的 閣下專屬二維碼來提供 閣下的電子郵件地 址。或者， 閣下也可以簽署回條並交回股份過戶分處。 本公司的本次公司通訊文件備有中、英文版本，並已上載於香港聯合交易所有限公司（「香港交易所」）網站（www.hkexnews.hk）及本公司網 站（ ...

Gynaecology and Paediatric Medicines 婦兒藥物 Kidney Medicines 腎科藥物 Contrast Medium 對比劑 Dermatologic Medicines 皮膚科藥物 Interim Report 2025 中期報告 Orthopedics Medicines 骨科藥物 Hepatobiliary Medicines 肝膽藥物 Gastroenterology Medicines 消化系統藥物 Contents 目錄 | Corporate Information | 2 | 公司資料 | | --- | --- | --- | | Financial Highlights | 6 | 財務摘要 | | Management Discussion and Analysis | 7 | 管理層討論及分析 | | Consolidated Statement of Profit or Loss | 21 | 綜合損益表 | | Consolidated Statement of Profit or Loss and Other Comprehensive ...

Core Viewpoint - 康臣药业 demonstrated strong performance in the first half of 2025, with revenue reaching 1.569 billion RMB, a year-on-year increase of 23.7% [1] Financial Performance - Group revenue for the first half of 2025 was 1.569 billion RMB, up 23.7% year-on-year [1] - Gross profit increased by approximately 27.6% to 1.209 billion RMB, with a gross margin of 77.1%, an increase of 2.4 percentage points compared to the same period in 2024 [1] - Shareholder profit attributable to the company was approximately 498 million RMB, a year-on-year increase of 24.6% [1] - The board proposed an interim dividend of 0.33 HKD per share, with a payout ratio exceeding 51% [1] Business Segments - Sales revenue from nephrology drugs was approximately 1.131 billion RMB, a growth of about 28.0% compared to 2024 [1] - Sales revenue from pediatric and women's drugs was approximately 172 million RMB, up about 17.5% year-on-year [1] - Sales revenue from medical imaging contrast agents was approximately 95 million RMB, a year-on-year increase of about 22.0% [1] - The company has launched new CT contrast agents and has a rich pipeline of products under development [1] Market Position - 尿毒清颗粒 is the flagship product of 康臣药业, maintaining a leading position in the chronic kidney disease (CKD) market [1] - The product is the first Chinese traditional medicine to complete evidence-based medical research for CKD, with a significant target market due to the high prevalence of CKD in China [1] - Despite the expiration of its patent in 2024, the complexity of its formulation and strict drug approval processes are expected to maintain its market barrier [1] Investment Outlook - The target price is set at 25.20 HKD, reflecting a 59.50% upside potential based on a 19x P/E ratio for 2025 [1] - The company is expected to continue its stable growth, supported by high dividends and share buybacks, showcasing value and confidence [1]

Investment Rating - The report maintains a "Buy" rating for the company with a target price of HKD 25.20, indicating a potential upside of 59.5% from the current price of HKD 15.80 [5]. Core Insights - The company has demonstrated strong performance with a revenue of RMB 1.569 billion in the first half of 2025, reflecting a year-on-year growth of 23.7%. Gross profit increased by approximately 27.6% to RMB 1.209 billion, with a gross margin of 77.1%, up 2.4 percentage points from the same period in 2024 [2]. - The core product, Uremic Clear Granules, continues to drive growth, achieving sales of approximately RMB 1.131 billion, a 28.0% increase compared to 2024. This product holds a leading position in the modern Chinese medicine category for kidney disease [3][4]. - The company has a robust dividend policy, proposing an interim dividend of HKD 0.33 per share, resulting in a payout ratio exceeding 51% [2]. Summary by Sections Financial Performance - For the fiscal year ending December 31, 2023, the company reported revenues of RMB 2.590 billion, with a projected increase to RMB 3.477 billion in 2025, representing a growth rate of 17.2% [6]. - Net profit is expected to rise from RMB 784.5 million in 2023 to RMB 1.052 billion in 2025, with diluted earnings per share increasing from RMB 0.98 to RMB 1.23 during the same period [6]. Product and Market Position - Uremic Clear Granules is the company's flagship product, uniquely positioned in the market with a significant competitive advantage. It is the first kidney disease Chinese medicine to complete evidence-based medical research and has received strong recommendations in clinical guidelines [4]. - The company has expanded its product pipeline, with several new imaging contrast agents launched and ongoing research products awaiting approval, enhancing its market offerings [3]. Strategic Outlook - The company is focused on optimizing its operational structure and deepening strategic layouts, which is expected to sustain its growth trajectory. The kidney disease product segment is anticipated to maintain stable sales growth due to its unique market position and the absence of significant competing products [4][5].

Core Viewpoint - First Shanghai maintains a "buy" rating for Kangchen Pharmaceutical (01681) and adjusts the profit forecast for 2025-2027, setting a target price of HKD 25.20, indicating a potential upside of 59.50% from the current price [1] Financial Performance - Kangchen Pharmaceutical reported a revenue of RMB 1.569 billion for the first half of 2025, representing a year-on-year growth of 23.7% [2] - Gross profit increased by approximately 27.6% to RMB 1.209 billion, with a gross margin of 77.1%, up 2.4 percentage points from the same period in 2024, mainly due to a decrease in raw material prices [2] - Shareholders' profit attributable to the company was approximately RMB 498 million, a year-on-year increase of 24.6% [2] - The company continues its high dividend policy, proposing an interim dividend of HKD 0.33 per share, with a payout ratio exceeding 51% [2] Product and Business Development - The sales revenue of nephrology drugs reached approximately RMB 1.131 billion, a year-on-year increase of about 28.0%, driven by the core product, Uremia Qing granules, which maintains a leading position in the modern Chinese medicine category for kidney diseases [3] - Sales revenue from pediatric and women's drugs was approximately RMB 172 million, up about 17.5% year-on-year, with the unique oral iron supplement, Yuanlikang, entering the national essential drug and medical insurance catalog [3] - The medical imaging contrast agent series generated sales of approximately RMB 95 million, a year-on-year increase of about 22.0% [3] - The company has launched new CT contrast agents and has a rich pipeline of products under development [3] Market Position and Competitive Advantage - Uremia Qing granules are the flagship product of Kangchen Pharmaceutical, holding a leading position in the kidney disease Chinese medicine market, with a significant target market due to the high prevalence of chronic kidney disease (CKD) in China [4] - The product is the first kidney disease Chinese medicine to complete evidence-based medical research and has received strong recommendations in multiple clinical guidelines [4] - Despite the expiration of the product's patent in 2024, the complexity of its compound formulation and stringent drug approval processes are expected to maintain high market barriers and a concentrated competitive landscape [5]

Core Viewpoint - First Shanghai maintains a "buy" rating for Kangchen Pharmaceutical (01681) and adjusts the profit forecast for 2025-2027, setting a target price of HKD 25.20, indicating a potential upside of 59.50% from the current price [1] Group 1: Overall Performance - Kangchen Pharmaceutical demonstrated strong performance in the first half of 2025, with revenue reaching RMB 1.569 billion, a year-on-year increase of 23.7% [1] - Gross profit grew approximately 27.6% to RMB 1.209 billion, with a gross margin of 77.1%, up 2.4 percentage points from the same period in 2024, attributed to lower raw material costs [1] - Shareholder profit attributable to the company was approximately RMB 498 million, a year-on-year increase of 24.6%, with a proposed interim dividend of HKD 0.33 per share, resulting in a payout ratio exceeding 51% [1] Group 2: Core Product Growth - Revenue from nephrology drugs reached approximately RMB 1.131 billion, a year-on-year increase of about 28.0%, driven by the core product, Uremia Qing granules, which maintains a leading position in the modern Chinese medicine category for kidney disease [2] - Revenue from pediatric and women's health drugs was approximately RMB 172 million, a year-on-year increase of about 17.5%, with the unique oral iron supplement, Yuanlikang, gaining market share after the removal of reimbursement restrictions [2] - Sales of medical imaging contrast agents reached approximately RMB 95 million, a year-on-year increase of about 22.0%, with multiple new products launched and a rich pipeline of products under development [2] Group 3: Leading Position in Nephrology - Uremia Qing granules are the flagship product of Kangchen Pharmaceutical, holding a leading position in the kidney disease Chinese medicine market, with a unique competitive advantage [3] - The product is primarily used for chronic kidney disease (CKD), effectively lowering serum creatinine levels and delaying the progression of CKD, with a high safety profile [3] - The prevalence of CKD in Chinese adults is as high as 8.2%, with an estimated patient population exceeding 120 million, indicating a substantial target market [3] Group 4: Market Dynamics and Future Outlook - Uremia Qing granules have a broad range of indications and high clinical application frequency, supported by a strong sales and public relations team [4] - The product is included in the medical insurance directory, making it affordable, and the company has adopted a "price for volume" strategy to consolidate and enhance market share [4] - Despite the expiration of the product's patent in 2024, the complexity of its compound formulation and stringent drug approval processes are expected to maintain high market barriers and a concentrated competitive landscape [4]

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: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 康臣葯業集團有限公司 呈交日期: 2025年9月1日 I. 法定/註冊股本變動 | 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) | 01681 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | HKD | | 0.1 | HKD | | 500,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 5,000,000,000 | HKD | | 0.1 | HKD | | 500,000,000 | 本月底法定/註冊股本 ...