【导读】中国医药原党委委员、总经理助理李欣接受审查调查 中国基金报记者 晨曦 医药反腐最新消息，李欣被查！ 11月21日，"廉洁通用"官微通报： 中国医药健康产业股份有限公司原党委委员、总经理助理 李欣涉嫌严重违纪违法， 目前正接受中央纪委国家监委驻通用技术集团纪检监察组纪律审查 和山东省德州市监察委员会监察调查。 公开信息显示，李欣出生于1962年，中共党员，研究生学历，硕士学位，药剂师。 李欣长期从事医药行业相关工作。1997年6月至2004年12月，李欣任北京永正医药有限公司 总经理；2004年12月至2009年3月，任北京华立永正医药有限公司总经理，兼任华立医药集 团总裁；2009年4月至2016年12月，任美康永正总经理。 2016年12月，李欣出任中国医药总经理助理。2022年9月30日盘后，中国医药发布公告 称，因将于2022年10月7日达到法定退休年龄，李欣申请辞去公司总经理助理职务。辞职 后，李欣仍继续担任中国医药下属子公司其他职务。 据悉，中国医药健康产业股份有限公司（中国医药）是通用技术集团控股的上市公司，其前 身为1983年成立的中国医药保健品进出口总公司，1999年加入通用技术集团， ...

据中央纪委国家监委驻通用技术集团纪检监察组、山东省纪委监委消息：中国医药健康产业股份有限公 司原党委委员、总经理助理李欣涉嫌严重违纪违法，目前正接受中央纪委国家监委驻通用技术集团纪检 监察组纪律审查和山东省德州市监察委员会监察调查。 ...

（文章来源：证券日报） 证券日报网讯中国医药11月20日在互动平台回答投资者提问时表示，截至2025年9月30日，公司股东总 数为139，689户。 ...

Core Insights - The Chinese pharmaceutical industry is entering a critical phase characterized by "innovation realization + global layout," supported by population and domestic demand, as well as comprehensive manufacturing capabilities [1] - Companies are actively exploring diversified overseas paths while strengthening supply chain security and compliance domestically [1] Group 1: Global Perspective - The value of innovation is becoming prominent, with Chinese pharmaceutical assets demonstrating global cost-effectiveness and significant collaborative potential [1] - In the first three quarters of 2025, overseas licensing of innovative drugs from China surpassed the total for the previous year, indicating a strong trend towards internationalization [1] Group 2: Domestic Value Restructuring - Focus on high-quality development through policy optimization, including collection optimization and multi-payment systems [2] - The commercialization phase for innovative drugs is underway, emphasizing the importance of supply chain security [2] - Domestic medical devices are extending into mid-to-high-end markets, with optimism surrounding overseas expansion and the implementation of new technologies [2] Group 3: Overseas Value Restructuring - The industry is entering an internationalization 2.0 era, with business development (BD) becoming a norm for innovative drugs [3] - Both domestic and overseas demand are recovering, providing opportunities for growth [3] - The raw materials sector is transitioning towards specialty raw materials and Contract Development and Manufacturing Organizations (CDMO) [3] Group 4: Investment Outlook for 2026 - Key investment themes include innovative drugs (e.g., ADC, second-generation IO, small nucleic acids) and innovative medical devices (e.g., AI healthcare, brain-machine interfaces) [4] - Companies with global clinical data and international capabilities in innovative drugs, as well as those actively expanding overseas in the medical device sector, are expected to perform well [4] - Marginal changes are anticipated from policy benefits and improvements in supply-demand dynamics, particularly in the CXO sector [4] - Integration opportunities exist for leading companies in niche medical device segments, state-owned enterprises in traditional Chinese medicine reform, and pharmaceutical companies with strong integration capabilities [4]

Core Insights - The pharmaceutical sector reported a slight revenue growth of 0.20% year-on-year for Q3 2025, driven by innovative drugs and CXO benefiting from overseas orders and FDA approvals [1] - The medical device sector is experiencing slow recovery, with capital expenditures in hospitals remaining low, particularly in high-end imaging and IVD fields [1] - Traditional Chinese medicine saw a revenue increase of 1.60% year-on-year, but profits were pressured by adjustments in medical insurance catalogs and centralized procurement [1] - Pharmaceutical commercial revenue grew by 2.45%, although gross margins declined by 0.85 percentage points, indicating intensified price pressures in distribution channels [1] Short-term Outlook - The easing of centralized procurement policies for medical devices and steady progress in the innovative drug industry suggest stable operational performance in the pharmaceutical sector, with innovative drugs experiencing six consecutive quarters of high growth [1] - 2025 is anticipated to be a pivotal year for commercial insurance, benefiting innovative drugs and devices along with their supply chains [1] Long-term Outlook - The continuous upgrade of China's pharmaceutical industry is being realized, supported by a series of domestic policies favoring innovative drugs and the increasing clinical value of products [1] - Global pharmaceutical companies are accelerating their purchases of innovative drugs from China, surpassing the pace seen in the U.S. and other countries, indicating a collective globalization of China's innovative drug industry [1] Focus Areas - Future attention will be directed towards three main areas: 1. Innovative drugs with strong global competitiveness, benefiting from both domestic and Western markets [2] 2. The innovative drug supply chain, including CXO and life sciences services, expected to see a recovery in order growth as global investment and financing accelerate [2] 3. Medical devices and equipment, particularly companies focusing on self-sufficiency, domestic substitution, and high-end manufacturing for international markets, as procurement policies continue to improve [2]

Group 1 - The core viewpoint of the article is that China Medical has acquired Jinsui Technology and established a health and e-commerce division to enhance management integration and drive business growth [2] - The collaboration with major e-commerce platforms such as JD.com, Tmall, and Douyin has shown strong business synergy [2] - The company aims to leverage this synergy to achieve significant performance during the 2025 "Double 11" shopping festival [2]

Core Viewpoint - China National Pharmaceutical Group's stock has experienced a decline of 2.06% on November 17, with a current price of 11.41 CNY per share and a total market capitalization of 17.068 billion CNY [1] Financial Performance - For the period from January to September 2025, China National Pharmaceutical achieved a revenue of 25.894 billion CNY, a year-on-year decrease of 0.79%, while the net profit attributable to shareholders was 455 million CNY, reflecting a year-on-year increase of 1.70% [2] - The company has cumulatively distributed dividends of 3.795 billion CNY since its A-share listing, with 725 million CNY distributed over the past three years [3] Stock Market Activity - As of 09:54 on November 17, the trading volume was 137 million CNY, with a turnover rate of 0.80% [1] - The stock has seen a year-to-date increase of 3.77%, a decline of 0.78% over the last five trading days, a rise of 3.92% over the last 20 days, and an increase of 5.16% over the last 60 days [1] Shareholder Information - As of September 30, 2025, the number of shareholders was 139,700, an increase of 0.69% from the previous period, with an average of 10,704 circulating shares per shareholder, a decrease of 0.69% [2] - The top ten circulating shareholders include Southern CSI 500 ETF, holding 10.9137 million shares, down by 170,800 shares from the previous period, and Hong Kong Central Clearing Limited, holding 8.3204 million shares, down by 3.7371 million shares [3] Business Overview - China National Pharmaceutical is primarily engaged in the production, processing, and trade of pharmaceuticals, with its main business revenue composition being 75.50% from pharmaceutical commerce, 13.26% from international trade, and 7.69% from pharmaceutical manufacturing [1]

（文章来源：证券日报） 证券日报网讯中国医药11月14日在互动平台回答投资者提问时表示，本次发行超短期融资券有助于拓展 公司融资渠道，增加债务融资的多样性与灵活性，优化公司融资成本，并发挥上市平台融资功能，提高 公司知名度与社会影响力。 ...

（文章来源：证券日报） 证券日报网讯 11月12日晚间，中国医药发布公告称，根据公司资金需求，公司已于近日完成了2025年 度第一期超短期融资券的发行工作，募集资金已于2025年11月12日到账。 ...

证券代码：600056 证券简称：中国医药 公告编号：临 2025-085 号 本期超短期融资券的募集资金发行情况的有关文件已在中国货币网 （www.chinamoney.com.cn）和上海清算所网站（www.shclearing.com.cn）上刊 登。 特此公告。 2025 年 11 月 13 日 中国医药健康产业股份有限公司（以下简称"公司"）于 2025 年 5 月 16 日召开 2024 年年度股东大会，审议并通过了《关于开展公司债和超短期融资券 注册的议案》。2025 年 10 月 11 日公司发布了《关于收到中国银行间市场交易 协会<接受注册通知书>的公告》，公司获得中国银行间市场交易商协会批准注册 的超短期融资券额度为人民币 30 亿元，注册额度自《接受注册通知书》落款之 日起 2 年内有效。 根据公司资金需求，公司已于近日完成了 2025 年度第一期超短期融资券的 发行工作，募集资金已于 2025 年 11 月 12 日到账。现将发行结果公告如下： | 名称 | 中国医药健康产业股 份有限公司 2025 年度 第一期超短期融资券 | 简称 | 25 中国医药 SCP001 | | --- ...