Core Viewpoint - Tibet Pharmaceutical is focusing on transformation and innovation, aligning with national policies, particularly in the field of innovative drugs and gene editing technology [1][3]. Group 1: Investment and Strategic Direction - Tibet Pharmaceutical plans to invest $60 million in Accuredit Therapeutics Limited, acquiring a 40.82% stake, which has been approved by the company's shareholders [1]. - The company aims to enhance its growth through both internal and external strategies, emphasizing R&D investment and project acquisition to drive sustainable development [1][2]. Group 2: Financial Performance - Over the past decade, Tibet Pharmaceutical's revenue increased from 521 million to 2.807 billion, with a compound annual growth rate (CAGR) of 18.34%, while net profit rose from 92 million to 1.051 billion, with a CAGR of 27.63% [2]. - However, in 2024, the company experienced a revenue decline of 10.45%, raising concerns about its growth sustainability, despite a 9.45% increase in net profit [2]. Group 3: Growth Strategy - To achieve sustained growth, the company must establish a second growth curve focusing on internal growth through product enhancement and external growth via R&D and acquisitions [3]. - The acquisition of Accuredit Therapeutics is seen as a critical step in the company's innovation journey, aligning with its transformation strategy [3][4]. Group 4: Gene Editing Focus - Accuredit Therapeutics, established in 2021, specializes in developing non-viral vector-based gene editing drugs and has a comprehensive technology platform [4]. - The company is currently conducting clinical trials for its lead product, ART001, which has received IND approval in both China and the U.S. [4][5]. Group 5: Safety and Market Considerations - Gene editing technology is characterized by irreversible effects, making safety a primary concern, with a typical waiting period of 2 to 5 years for clinical data to confirm safety [5]. - The company is enhancing safety through reversible gene technology and off-target detection methods [5].

证券代码：600211 证券简称：西藏药业 公告编号：2025-036 西藏诺迪康药业股份有限公司 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。 二、说明会召开的时间、地点、方式 重要内容提示： ●会议召开时间：2025 年 10 月 10 日 15:00-16:00 召开时间：2025 年 10 月 10 日（星期五）15:00-16:00 ●会议召开方式：本次业绩说明会将采用网络方式举行 ●投资者可于 2025 年 10 月 9 日（星期四）前将相关问题通过电子邮件的形式发送至邮 箱：chenxu@xzyy.cn，本公司将在 2025 年半年度业绩说明会上对投资者普遍关注的问题进行 回答。 本公司已于 2025 年 8 月 16 日在《中国证券报》《上海证券报》《证券时报》及上海证券 交易所网站（www.sse.com.cn）披露公司 2025 年半年度报告，为便于广大投资者更全面深入 了解公司 2025 年半年度的经营成果、财务状况，公司计划于 2025 年 10 月 10 日 15:00-16:00 召开 2025 ...

Core Viewpoint - The innovative pharmaceutical concept stocks continue to decline, with significant drops observed in several companies [1] Company Summary - Borui Pharmaceutical has seen a decline of over 8% [1] - Tibet Pharmaceutical has dropped by more than 7% [1] - Fuyuan Pharmaceutical, Zhendong Pharmaceutical, and Maiwei Biotechnology have also experienced declines [1]

Investment Rating - The report maintains a "Recommended" investment rating for the pharmaceutical industry as of September 21, 2025 [1] Core Insights - The trend of Chinese innovative drugs going global is a significant industry trend, with a notable increase in License-out transactions in the first half of 2025, surpassing the total number for 2024 by over half and increasing transaction amounts by 16% [2] - The report highlights the importance of structural opportunities within the industry, emphasizing the need to select high-quality companies amidst the competitive landscape [2] - The report notes that while the trend of innovative drugs going abroad continues, concerns have arisen due to fewer major transactions and proposed U.S. regulations affecting Chinese drug licensing [2] - The report identifies significant breakthroughs in small nucleic acid drugs, particularly in chronic disease areas such as hypertension, with notable partnerships and potential milestone payments [3] - The report discusses promising clinical data from Chinese ADCs presented at the World Lung Cancer Conference, showcasing competitive advantages in efficacy and safety [4] - The report mentions the advancements in GLP-1 analogs for weight loss, with ongoing developments from both multinational corporations and domestic companies [5] - The CXO sector is expected to gradually recover, driven by an increase in orders and favorable policy changes [6] - The report outlines the completion of expert reviews for the 2025 medical insurance negotiation and commercial insurance innovative drug directories, indicating potential impacts on participating companies [7] Summary by Sections 1. Pharmaceutical Market Tracking - The pharmaceutical industry index has underperformed compared to the CSI 300 index, with a recent weekly decline of 2.07% [22] - Over the past month, the industry has lagged behind the CSI 300 index by 7.79 percentage points [23] 2. Pharmaceutical Sector Trends and Valuation - The current PE (TTM) for the pharmaceutical industry index is 39.77, above the five-year historical average of 31.50 [48] 3. Recent Research Achievements - The report includes various recent research outputs, highlighting the ongoing focus on innovative drug development and market opportunities [50] 4. Recent Industry Policies and News - The report details recent policy updates from the National Medical Insurance Administration regarding drug directory adjustments and the implications for the industry [52][54]

Company Overview - Tibet Pharmaceutical Co., Ltd. is located in Lhasa Economic and Technological Development Zone, Tibet, and was established on July 14, 1999, with its listing date on July 21, 1999. The company primarily engages in pharmaceutical manufacturing, with 99.80% of its revenue coming from drug sales and 0.20% from other sources [1]. Stock Performance - As of September 19, the stock price of Tibet Pharmaceutical fell by 2.00% to 51.34 CNY per share, with a trading volume of 272 million CNY and a turnover rate of 1.62%. The total market capitalization is 16.548 billion CNY [1]. - Year-to-date, the stock has increased by 46.40%, but it has decreased by 9.02% over the last five trading days. In the last 20 days, the stock rose by 13.69%, and over the past 60 days, it increased by 43.49% [1]. Financial Performance - For the first half of 2025, Tibet Pharmaceutical reported a revenue of 1.651 billion CNY, representing a year-on-year growth of 2.23%. However, the net profit attributable to shareholders decreased by 8.96% to 567 million CNY [2]. Shareholder Information - As of June 30, 2025, the number of shareholders for Tibet Pharmaceutical was 45,200, a decrease of 8.08% from the previous period. The average number of circulating shares per person increased by 8.79% to 7,132 shares [2]. - The company has distributed a total of 2.258 billion CNY in dividends since its A-share listing, with 1.580 billion CNY distributed over the last three years [3]. Institutional Holdings - As of June 30, 2025, Hong Kong Central Clearing Limited was the seventh-largest circulating shareholder, holding 2.5902 million shares, a decrease of 1.6084 million shares from the previous period. Huaxia Industry Prosperity Mixed Fund (003567) was the tenth-largest circulating shareholder, maintaining its holding of 1.9036 million shares [3].

Group 1 - The core viewpoint of the news is that Tibet Pharmaceutical's stock has experienced fluctuations, with a recent decline of 2.07% and a year-to-date increase of 48.54% [1] - As of September 17, the stock price is 52.09 yuan per share, with a total market capitalization of 16.79 billion yuan [1] - The company has seen a net outflow of main funds amounting to 58.76 million yuan, with significant selling pressure observed [1] Group 2 - For the first half of 2025, Tibet Pharmaceutical reported a revenue of 1.651 billion yuan, reflecting a year-on-year growth of 2.23%, while the net profit attributable to shareholders decreased by 8.96% to 567 million yuan [2] - The company has distributed a total of 2.258 billion yuan in dividends since its A-share listing, with 1.580 billion yuan distributed over the past three years [3] - As of June 30, 2025, the number of shareholders decreased by 8.08% to 45,200, while the average circulating shares per person increased by 8.79% to 7,132 shares [2]

证券代码：600211 证券简称：西藏药业公告编号：2025-035 西藏诺迪康药业股份有限公司 重要内容提示： ● 担保对象及基本情况 （一）担保的基本情况 根据本公司生产经营及业务发展的需要，近期本公司为生物医药向银行申请的综合授信业务提供连带责 任保证，具体情况如下： 1、本公司与上海浦东发展银行股份有限公司拉萨分行（以下简称"浦发拉萨分行"）签订了《保证合 同》，为生物医药与浦发拉萨分行的授信业务提供不超过人民币8000万元的连带责任保证；生物医药向 本公司提供了反担保。 2、本公司与兴业银行股份有限公司拉萨分行（以下简称"兴业拉萨分行"）签订了《最高额保证合 同》，为生物医药与兴业拉萨分行的授信业务提供不超过人民币8000万元的连带责任保证；生物医药向 本公司提供了反担保。 （二）内部决策程序 本公司分别于2025年3月13日、2025年4月8日召开了第八届董事会第八次会议、2024年年度股东大会， 审议通过了《关于公司2025年度向银行申请授信额度及担保相关事项的议案》：同意本公司及控股子公 司在2025年度拟向银行申请合计余额不超过10亿元人民币综合授信额度，其中控股子公司的授信额度不 超过8亿 ...

证券日报网讯 9月16日晚间，西藏药业发布公告称，本公司未对控股股东和实际控制人及其关联人提供 担保，亦未发生逾期担保的情形。 （文章来源：证券日报） ...

证券代码：600211 证券简称：西藏药业 公告编号：2025-035 西藏诺迪康药业股份有限公司 关于为控股子公司提供担保的公告 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。 重要内容提示： 担保对象及基本情况 | | 被担保人名称 | 本公司全资子公司西藏诺迪康生物医药 销售有限公司（以下简称"生物医药"）， | | --- | --- | --- | | | | 本次担保不存在关联担保。 | | | 本次担保金额 | 16,000 万元 | | 担保对象 | 实际为其提供的担保余额 | 截至本公告日，本公司已实际为生物医 药提供的担保余额为人民币 37,880.29 | | | | 万元。 | | | 是否在前期预计额度内 | □否 □不适用：_________ 是 | | | 本次担保是否有反担保 | 是 □否 □不适用：_________ | （一）担保的基本情况 根据本公司生产经营及业务发展的需要，近期本公司为生物医药向银行申请的综合授 信业务提供连带责任保证，具体情况如下： 1、本公司与上海浦东发展银行股份 ...

2025年9月17日，西藏诺迪康药业股份有限公司公告，为全资子公司西藏诺迪康生物医药销售有限公司 向银行申请综合授信业务提供1.6亿元连带责任保证，其中浦发拉萨分行、兴业拉萨分行各8000万元， 生物医药均提供反担保。该事项已履行审批程序。截至公告日，公司已为其担保余额3.788029亿元，公 司及控股子公司对外担保实际发生余额7.288029亿元，占最近一期经审计净资产的18.44%，无逾期担 保。此次担保在预计授权范围内，被担保方资信和偿债能力良好，风险可控。 ...