Core Viewpoint - Jiangsu Wuzhong has faced multiple negative events since 2025, including regulatory scrutiny and financial difficulties, leading to its stock being placed on risk warning status and potential delisting [1][3][5]. Group 1: Regulatory Issues - The chairman of Jiangsu Wuzhong, Qian Qunshan, received a notice from the China Securities Regulatory Commission (CSRC) regarding an investigation for suspected violations of information disclosure laws [1]. - The company has been under investigation since February 27, 2025, for similar allegations, with the CSRC deciding to initiate a case against it [3]. - A subsidiary's former legal representative was prosecuted for involvement in fraudulent activities related to export tax rebates [3]. Group 2: Financial Performance - In 2024, Jiangsu Wuzhong reported a revenue of 1.599 billion yuan, a year-on-year decrease of 28.64%, but achieved a net profit of 70.48 million yuan, marking a turnaround from losses [4]. - The pharmaceutical segment generated revenue of 1.229 billion yuan, down 33.19% year-on-year, while the medical beauty sector saw a significant increase in revenue to 330 million yuan, up 4225.65% [4]. Group 3: Corporate Governance and Internal Control - Despite a slight improvement in financial performance, Jiangsu Wuzhong has revealed serious internal control issues, pushing the company closer to delisting [5]. - The controlling shareholder, Suzhou Wuzhong Investment Holdings, held a 17.24% stake in the company as of the first quarter of 2025 [6].

Core Viewpoint - The article discusses the ongoing regulatory issues faced by *ST Suwu, including the investigation of its chairman by the China Securities Regulatory Commission (CSRC) and the implications for the company's financial health and operations [2][3]. Group 1: Regulatory Issues - The chairman of *ST Suwu, Qian Qunshan, is under investigation by the CSRC, which has issued a notice of investigation. This investigation is focused solely on the chairman and is not expected to significantly impact the company's daily operations [3]. - In February 2024, *ST Suwu received a notice from the CSRC regarding suspected violations of information disclosure laws, which could lead to severe penalties, including potential delisting [3][8]. Group 2: Financial Performance - For the year 2024, *ST Suwu reported a revenue of 1.599 billion yuan, a decrease of 28.64% year-on-year, and a net profit attributable to shareholders of 70.48 million yuan [6]. - The company has been issued a non-standard audit opinion due to issues related to the misuse of funds by related parties, with 769 million yuan reported as misappropriated and not returned [6]. Group 3: Business Operations - *ST Suwu operates in the pharmaceutical sector through its subsidiary, Jiangsu Wuzhong Pharmaceutical Group, focusing on drug research, production, and sales, with key products in various therapeutic areas [4]. - The company aims to develop a dual-driven strategy focusing on both pharmaceutical and medical beauty sectors, leveraging opportunities in the health industry to enhance market competitiveness [6]. Group 4: Legal and Financial Risks - The company faces additional legal challenges, including a lawsuit against its subsidiary's former legal representative for alleged fraud related to export tax rebates, with the first court hearing scheduled for April 2025 [7]. - Due to overdue loans, some of the company's bank accounts have been frozen, which may further impact its financing capabilities and business operations [7].

本公司董事会及董事会全体成员保证公告内容不存在虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实、准确和完整承担法律责任。 证券代码：600200 证券简称：*ST 苏吴 公告编号：临 2025-038 江苏吴中医药发展股份有限公司 关于公司董事长收到立案告知书的公告 2025 年 5 月 15 日 江苏吴中医药发展股份有限公司（以下简称"公司"）收到公司董事长钱群 山先生通知，其于近日收到中国证券监督管理委员会（以下简称"中国证监会"） 出具的《立案告知书》（编号：证监立案字 0392025008 号），因涉嫌信息披露 违法违规，根据《中华人民共和国证券法》《中华人民共和国行政处罚法》等法 律法规，中国证监会决定对其立案。 本次立案仅针对董事长个人，不会对公司日常经营活动产生重大影响。立案 调查期间，公司董事长将积极配合中国证监会的调查工作。 公司将持续关注上述事项的进展情况，并严格按照有关法律法规的规定和要 求，及时履行信息披露义务。公司所有信息均以在《上海证券报》《中国证券报》 以及上海证券交易所网站（www.sse.com.cn）刊登的正式公告为准，敬请广大投 资者谨慎投资，注意风险。 董事会 特此 ...

本公司董事会及董事会全体成员保证公告内容不存在虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实、准确和完整承担法律责任。 重要风险提示： 公司于 2025 年 2 月 27 日披露了《江苏吴中医药发展股份有限公司关于收到 中国证券监督管理委员会立案告知书暨风险提示公告》（公告编号：临 2025-007）， 证券代码：600200 证券简称：*ST 苏吴 公告编号：临 2025-037 江苏吴中医药发展股份有限公司 关于立案调查进展暨风险提示公告 若后续经中国证监会行政处罚认定的事实，触及《上海证券交易所股票上市 规则》规定的重大违法强制退市情形，公司股票将被实施重大违法强制退市。请 投资者理性投资，注意投资风险。 公司所有信息均以在上海证券交易所网站（www.sse.com.cn）和《上海证券 报》《中国证券报》刊登的正式公告为准，敬请广大投资者谨慎投资，注意风险。 特此公告。 江苏吴中医药发展股份有限公司 董事会 2025 年 5 月 15 日 江苏吴中医药发展股份有限公司(以下简称"公司")已被中国证券监督 管理委员会(以下简称"中国证监会")立案调查，目前公司尚未收到就 上述立案调查事项的结论性意见 ...

*ST苏吴（600200）公告，公司已被中国证监会立案调查，目前尚未收到就上述立案调查事项的结论性 意见或决定。若后续经中国证监会行政处罚认定的事实，触及《上海证券交易所股票上市规则》规定的 重大违法强制退市情形，公司股票将被实施重大违法强制退市。公司股票已被实施退市风险警示(*ST) 叠加其他风险警示。 ...

金融界消息 截至2025年5月14日收盘，*ST苏吴（600200）报收于2.51元，下跌4.92%，换手率3.1%，成 交量22.04万手，成交金额5568.48万元。 来源：金融界 资金流向方面，今日主力资金净流出1557.82万元，占比成交额27.98%。其中，超大单净流出925.25万 元、占成交额16.62%，大单净流出632.57万元、占成交额11.36%，中单净流出流入0.31万元、占成交额 0.01%，小单净流入1557.51万元、占成交额27.97%。 天眼查商业履历信息显示，江苏吴中医药发展股份有限公司，成立于1994年，位于苏州市，是一家以从 事医药制造业为主的企业。企业注册资本71215.1832万人民币，实缴资本12279.5762万人民币。公司法 定代表人为钱群山。 通过天眼查大数据分析，江苏吴中医药发展股份有限公司共对外投资了13家企业，参与招投标项目5 次，知识产权方面有商标信息46条，专利信息2条，此外企业还拥有行政许可9个。 *ST苏吴最新一期业绩显示，截至2025一季报，公司营业总收入3.17亿元、同比减少25.44%，归属净利 润7031.79万元，同比减少1489.9 ...

证券代码：600200 证券简称：*ST 苏吴 公告编号：临 2025-036 江苏吴中医药发展股份有限公司 关于控股股东部分股份质押的公告 本公司董事会及董事会全体成员保证公告内容不存在虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实、准确和完整承担法律责任。 重要内容提示： ? 截至本公告披露日，江苏吴中医药发展股份有限公司（以下简称"公司"） 控股股东苏州吴中投资控股有限公司（以下简称"控股股东"）持有公 司 122,795,762 股股份（均为无限售流通股），占公司总股本的 17.24%。 ? 本次部分股份质押后，控股股东累计质押股份数量 116,020,000 股，占 其持有公司股份总数的 94.48%，占公司总股本的 16.29%。 公司于 2025 年 5 月 13 日收到控股股东苏州吴中投资控股有限公司关于部分 股份质押的通知，具体情况如下： 一、股份质押基本情况 是否为 是否 是否 占其所 占公 司 股东 本次质押股 质押 质 押 质押融资 控股股 为限 补充 质权人 持股份 总股本 名称 数(股) 起始日 到期 日 资金用途 东 售股 质押 比例 比例 控股股 东 苏州吴 的小股 东 ...

证券代码：600200 证券简称：*ST 苏吴 公告编号：临 2025-036 江苏吴中医药发展股份有限公司 二、控股股东股份质押情况 关于控股股东部分股份质押的公告 本公司董事会及董事会全体成员保证公告内容不存在虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实、准确和完整承担法律责任。 重要内容提示： 公司于 2025 年 5 月 13 日收到控股股东苏州吴中投资控股有限公司关于部分 股份质押的通知，具体情况如下： 一、股份质押基本情况 1、本次股份质押基本情况 | 股东 | 是否为 | 本次质押股 | 是否 | 是否 | 质押 | 质押 | | 占其所 | 占公司 | 质押融资 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 控股股 | 数(股) | 为限 | 补充 | 起始日 | 到期日 | 质权人 | 持股份 | 总股本 | 资金用途 | | | 东 | | 售股 | 质押 | | | | 比例 | 比例 | | | 苏州吴 中投资 | 是 | 9,570,000 | 否 | 否 | 2025 ...

*ST苏吴（600200）公告，控股股东苏州吴中投资控股有限公司质押957万股，占其所持股份的7.79%， 占公司总股本的1.34%。质押起始日为2025年5月12日，质权人为袁学新，质押融资资金用于控股股东 的小股东(个人)生产经营需要。控股股东累计质押股份数量为1.16亿股，占其持有公司股份总数的 94.48%，占公司总股本的16.29%。未来半年内到期的质押股份数量为2020万股，占其所持股份比例 16.45%，占公司总股本比例2.84%，对应融资余额为7700万元。未来一年内到期的质押股份数量为6877 万股，占其所持股份比例56.00%，占公司总股本比例9.66%，对应融资余额为2.56亿元。 ...

Investment Rating - The report maintains a "Recommended" rating for the healthcare sector [6]. Core Insights - The pharmaceutical sector has shown a slight underperformance compared to the CSI 300 index, with a 1.50% increase from April 28 to May 9, 2025, lagging by 0.06 percentage points [2][11]. - Year-to-date, the pharmaceutical index has risen by 1.19%, outperforming the CSI 300 by 3.45 percentage points [13]. - As of May 9, 2025, the valuation of the pharmaceutical sector stands at 26.54 times (TTM), with a premium of 141.81% over the CSI 300 [16]. Summary by Sections 1. Market Performance Review - The pharmaceutical sector's performance from April 28 to May 9, 2025, was a 1.50% increase, ranking 16th among 31 sectors [2][11]. - The year-to-date performance shows a 1.19% increase, ranking 15th among the sectors [13]. 2. Key Company Announcements - Key companies such as Kelly Tai, BGI Genomics, and Dongfang Bio reported varying financial results, with some showing significant declines in net profit [21]. 3. Industry Perspective - The pharmaceutical sector's revenue decreased by 0.99% in 2024, with net profit down by 12.97%. In Q1 2025, revenue fell by 4.78%, and net profit decreased by 12.21% [4][22]. - The report highlights a shift in market focus from earnings to fundamental changes in the industry and companies, with optimism surrounding innovative drugs, international expansion, and the clearing of centralized procurement impacts [4][22]. - The report suggests that the innovative drug sector is entering a phase of realization, with significant R&D progress and minimal impact from trade wars, making it a key investment theme for 2025 [4][22]. 4. Stock Performance - The top-performing stocks included Changshan Pharmaceutical (+26.29%), Haichuang Pharmaceutical (+25.85%), and Jinhao Medical (+25.32%) [3][20]. - Conversely, the worst performers included Puli Retreat (-69.88%) and ST Suwu (-31.39%) [3][20].