Core Insights - Tongrentang reported a decrease in revenue and net profit for the first three quarters of the year, indicating potential challenges in its financial performance [1] Financial Performance - The company's operating revenue for the first three quarters was 13,307,914,800.27 yuan, representing a year-on-year decrease of 3.7% [1] - The net profit attributable to shareholders of the listed company was 1,177,555,845.30 yuan, which reflects a year-on-year decline of 12.78% [1] Shareholder Changes - Among the top ten circulating shareholders, China Bank Co., Ltd. - Harvest CSI 300 Exchange-Traded Fund has been identified as a new circulating shareholder [1]

证券代码：600085 证券简称：同仁堂 公告编号：2025-035 北京同仁堂股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 会议召开时间：2025 年 11 月 7 日（星期五） 上午 9:30-10:30 会议召开地点：上海证券报·中国证券网（http://roadshow.cnstock.com/） 会议召开方式：网络文字互动 投资者可以在 2025 年 11 月 6 日下午 16:00 前将需要了解的情况和关注问题 预先发送到北京同仁堂股份有限公司（以下简称公司）投资者关系邮箱 （tongrentang@tongrentang.com）。公司将在信息披露允许的范围内，于说明 会上就投资者普遍关注的问题进行回答。 召开方式：网络文字互动 三、参加人员 公司全体董事（含独立董事）、总经理、总会计师、董事会秘书。 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 重要内容提示： 公司于 2025 年 10 月 31 日披露了《北京同仁堂股份有限公司 2025 年第三季 度报告》，为便于广大投资者更全面深入地了解 ...

Core Insights - Tongrentang (600085) reported a decline in both revenue and net profit for the third quarter of 2025, indicating challenges in the market environment [1] Financial Performance - The company's third-quarter revenue was 3.539 billion yuan, a year-on-year decrease of 12.76% [1] - Net profit for the third quarter was 232 million yuan, down 29.49% year-on-year [1] - For the first three quarters of 2025, total revenue reached 13.308 billion yuan, reflecting a year-on-year decline of 3.7% [1] - Net profit for the first three quarters was 1.178 billion yuan, which is a decrease of 12.78% compared to the previous year [1] Market Environment - The decline in sales is attributed to the impact of the market environment [1]

北京同仁堂股份有限公司 2025 年第三季度报告 证券代码：600085 证券简称：同仁堂 北京同仁堂股份有限公司 2025 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 公司董事会及董事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚 假记载、误导性陈述或重大遗漏，并承担法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告 中财务信息的真实、准确、完整。 第三季度财务报表是否经审计：□是 √否 一、 主要财务数据 （一）主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比 上年同期增 | | 年初至报告期末 | | --- | --- | --- | --- | --- | | | | 减变动幅度 | 年初至报告期末 | 比上年同期增减 | | | | | | 变动幅度(%) | | | | (%) | | | | 营业收入 | 3,539,016,707.52 | -12.76 | 13,307,914,800.27 | -3. ...

智通财经APP讯，同仁堂(600085.SH)发布2025年三季度报告，该公司前三季度营业收入为133.08亿元， 同比减少3.70%。归属于上市公司股东的净利润为11.78亿元，同比减少12.78%。归属于上市公司股东的 扣除非经常性损益的净利润为11.63亿元，同比减少11.95%。基本每股收益为0.859元。 ...

Core Insights - Tongrentang Technology has made significant progress in the capacity layout of liquid preparations, with the new oral liquid production line expected to submit GMP compliance inspection application by the end of the year [2][6] - The market for traditional Chinese medicine liquid preparations, including oral liquids, has seen continuous growth, with sales exceeding 20 billion yuan in 2023 and expected to maintain stable growth in 2024 [4] - The company has established a closed-loop production system suitable for continuous production of traditional Chinese medicine, enhancing production efficiency and flexibility [6] Company Developments - The new production line will increase the company's total liquid preparation production capacity to 240 million bottles annually, with a maximum daily capacity of 800,000 bottles [2] - Key equipment upgrades include a new water bath sterilizer with a 42.8% increase in capacity and an AI-driven automatic light inspection machine for optimized detection parameters [6] - The company is advancing its "smart production line" initiative, focusing on data integration across the entire supply chain from planting to production and consumption [6] Market Trends - The main categories driving the market include medications for respiratory diseases, tonics for energy and blood, and digestive system diseases [4] - Tongrentang Technology's oral liquid products, such as Shenmai Drink and Children's Cough Syrup, are gaining traction due to their quick efficacy, precise dosing, and ease of use, aligning with modern consumer demands [4]

Core Insights - Tongrentang Technology has successfully completed the trial operation of its export product workshop, marking a significant step towards the official production of its "export product production and R&D base" [1][3] Group 1: Production Capabilities - The company produces nearly 200 varieties of traditional Chinese medicine, covering over 20 dosage forms, which supports its overseas business growth [3] - The newly established export product production and R&D base has a construction area of over 1,400 square meters and is equipped with advanced pharmaceutical equipment and testing instruments [3][6] - The base is designed to meet the production and testing needs of 66 product specifications, including water honey pills, granules, and tablets, ensuring a robust supply for overseas markets [3][6] Group 2: Market Adaptation - The establishment of the export base allows for production tailored to the regulatory requirements of target markets, creating a more specialized supply system [3] - The base focuses on producing dosage forms that are more acceptable to overseas consumers, addressing cultural differences in consumption habits [3] Group 3: Quality Assurance - The trial operation tested the stability, production efficiency, and product quality, with results showing uniform granule size and excellent tablet formation [5][6] - The successful trial operation validates the "practical capabilities" of the export product workshop, enhancing the confidence in Tongrentang's international expansion [6] Group 4: Strategic Vision - The establishment of a dedicated export base enables the company to quickly respond to international market changes and systematically address the barriers faced by traditional Chinese medicine in global markets [6] - The company aims to transition from "able to export" to "good export" and ultimately to "brand export," fostering long-term trust and brand premium in international markets [6] - Future plans include optimizing production processes and advancing supporting work to achieve full production at the base, enhancing the international competitiveness of traditional Chinese medicine [6]

Core Insights - Tongrentang Technology has made significant progress in the capacity layout of liquid preparations, with the new oral liquid production line expected to submit GMP compliance inspection application by the end of the year [1] - The market for traditional Chinese medicine liquid preparations, including oral liquids, has seen continuous growth, with sales exceeding 20 billion yuan in 2023 and expected to maintain stable growth in 2024 [3] - The company has established a closed-loop production system suitable for continuous production of traditional Chinese medicine, enhancing production efficiency and flexibility in response to market demands [6] Group 1 - The new production line will increase the company's total capacity to four liquid preparation lines, with a maximum daily output of 800,000 bottles and an annual designed capacity exceeding 240 million bottles [1] - Key product categories driving market growth include medications for respiratory diseases, tonics, and digestive system diseases, with Tongrentang's oral liquid products benefiting from their quick efficacy and ease of use [3] - The introduction of advanced equipment, such as a new water bath sterilizer with a 42.8% increase in capacity and AI-enhanced automatic inspection machines, will further optimize production processes [6] Group 2 - The company is advancing its "smart production line" initiative, integrating data across the entire supply chain from cultivation to production, distribution, and consumption [6] - The deployment of a visual "cockpit" system in the workshop allows for real-time monitoring of production progress and key milestones, supporting resource utilization and cost control [6] - By embedding technological innovation into its operations, Tongrentang Technology aims to strengthen its competitive advantage in the modern traditional Chinese medicine sector, enhancing product innovation and operational efficiency [6]

Core Insights - The company is focusing on strategic transformation of its marketing system since 2025, combining product focus and channel optimization to enhance brand value and market competitiveness [1][5] - The company has established a multi-layered product matrix around key products, which includes nearly 300 varieties, laying a foundation for brand value release [1] - The optimization of channels is a key aspect of the marketing reform, with measures implemented to control channels and terminals, resulting in a more efficient sales network [1][5] Product Development - The company is concentrating on core products such as An Gong Niu Huang Wan, Xi Huang Wan, Liu Wei Di Huang Wan, and Jing Zhi Niu Huang Jie Du Wan, among others [1] - A systematic review of nearly 300 product varieties has been conducted to enhance product competitiveness [1] Channel Optimization - In 2025, the company implemented six targeted measures centered on "controlling channels and terminals," which include strengthening distributor admission and dynamic management [1] - The optimization of first and second-level distributors has achieved preliminary results, creating a "flat, efficient, and scientifically controllable" sales network [1] Terminal Network Development - The company has conducted 1,759 market activities, including 177 in prefecture-level cities, 100 in county areas, and 1,482 in communities, successfully developing 22 blank markets in counties [2][3] - Sales in grassroots markets have significantly increased year-on-year, with a notable rise in the proportion of terminal customers, particularly from third and fourth-tier cities and rural areas [2] "Double Thousand Project" - The company has established a terminal network covering 31 provinces and 273 prefecture-level cities, reaching over 230,000 chain and terminal stores [4] - The "Double Thousand Project" focuses on empowering 1,000 pharmacies and 1,000 medical clinics, enhancing product management, professional services, and brand marketing [4][5] - The project aims to improve product coverage and market responsiveness through resource packages that include priority supply guarantees and health culture lectures [4]

Group 1 - The core viewpoint of the news is that Tongrentang Technology (01666.HK) reported its unaudited financial results for the nine months ending September 30, 2025, showing significant revenue and profit figures [1] - The unaudited operating revenue for the group was approximately RMB 4.98 billion, with an operating cost of about RMB 2.991 billion, resulting in a net profit attributable to the parent company of approximately RMB 416 million [1] - As of September 30, 2025, the total unaudited assets of the group were approximately RMB 14.596 billion [1] Group 2 - As of October 28, 2025, Tongrentang Technology's stock closed at HKD 4.63, down 0.64%, with a trading volume of 1.5952 million shares and a trading value of HKD 7.3941 million [1] - Investment banks primarily rate the stock as outperforming the industry, with one bank giving an outperform rating in the last 90 days and a target average price of HKD 6.3 [1] - CITIC Securities recently issued a buy rating for Tongrentang Technology [1] Group 3 - The market capitalization of Tongrentang Technology is HKD 2.93 billion, ranking 6th in the Chinese medicine II industry [2] - Key performance indicators show that the company's ROE is 5.92%, which is higher than the industry average of 5.51% [2] - The company's net profit margin is 12.95%, slightly below the industry average of 13.75%, and its gross profit margin is 38.16%, significantly lower than the industry average of 51.2% [2]