（文章来源：证券日报） 证券日报网讯 1月27日，昆药集团在互动平台回答投资者提问时表示，公司严格遵守法律法规及监管要 求，如有达到信息披露标准的事项，将及时依规履行信息披露义务，敬请关注公司公告。上市公司股价 波动受宏观经济、行业周期及市场情绪等多重因素综合影响，敬请投资者注意投资风险。 ...

证券日报网讯 1月27日，昆药集团在互动平台回答投资者提问时表示，昆药集团财务共享中心成立于 2021年，整体运行成熟、稳定。 （文章来源：证券日报） ...

证券日报网讯1月21日，昆药集团（600422）在互动平台回答投资者提问时表示，公司严格遵守法律法 规及监管要求，切实履行信息披露义务。如公司有应披露的信息，将及时依法予以公告，敬请关注公司 公告。 ...

证券日报网讯 1月21日，昆药集团在互动平台回答投资者提问时表示，目前公司经营情况正常，不存在 应披露而未披露的重大事项。 （文章来源：证券日报） ...

证券日报网讯 1月21日，昆药集团在互动平台回答投资者提问时表示，目前公司经营情况正常。上市公 司股价波动受宏观经济、行业周期及市场情绪等多重因素综合影响，敬请投资者注意投资风险。公司管 理层高度重视投资者关切，并始终专注于提升企业内在价值。当前，公司正聚焦"银发健康产业引领 者"的战略目标，通过深化业务整合、强化经营管理，持续提升核心竞争力和长期投资价值。 （编辑 王雪儿） ...

Core Viewpoint - The company emphasizes the importance of brand building and consumer trust for its Xuesaitong series products, focusing on a systematic upgrade from cultivation to manufacturing and branding [1] Group 1: Brand Development - The company is committed to enhancing the brand of the Xuesaitong series products through systematic upgrades [1] - It aims to strengthen consumer trust by focusing on the entire supply chain from cultivation to end branding [1] Group 2: Marketing Strategy - The company is establishing a high-quality team with both pharmaceutical expertise and marketing experience [1] - It is developing a multi-channel, multi-model marketing strategy to promote the Xuesaitong series products [1] - The company is continuously pushing for the transformation and upgrade of its marketing model [1] Group 3: Target Market - The company is focusing on the brand advantage of the "777" series in chronic disease management, particularly in the aging health sector [1]

Core Viewpoint - Kunming Pharmaceutical Group (600422) emphasizes the unique advantages of its core product, Xuesaitong soft capsules, which offer faster absorption rates and simplified formulations, enhancing product safety and differentiation [1] Product Development - The company is exploring the application of Xuesaitong soft capsules in precise indications and in combination with other medications, particularly the "Ali Therapy" which combines Xuesaitong soft capsules with aspirin, yielding positive academic results [1] - The company is committed to continuous technical iteration and upgrade research on existing products to meet the medication needs of different patient groups, thereby strengthening and enhancing long-term competitiveness [1] Patient-Centric Approach - The company places high importance on the medication experience and needs of various patient groups, offering alternative formulations such as Xuesaitong granules and Xuesaitong drops, with a reminder for patients to follow medical advice regarding usage [1]

Core Viewpoint - The traditional Chinese medicine sector experienced a decline of 0.71% on January 14, with Wanbangde leading the drop, while the Shanghai Composite Index fell by 0.31% and the Shenzhen Component Index rose by 0.56% [1] Group 1: Market Performance - The closing price of Wanbangde was 16.76, down by 3.01%, with a trading volume of 266,800 shares and a transaction amount of 450 million [2] - The top gainers in the traditional Chinese medicine sector included Renhe Pharmaceutical, which closed at 6.32, up by 3.10%, with a trading volume of 925,100 shares and a transaction amount of 579 million [1] - The overall net outflow of main funds in the traditional Chinese medicine sector was 342 million, while retail investors saw a net inflow of 240 million [2] Group 2: Individual Stock Analysis - Renhe Pharmaceutical had a net inflow of 74.86 million from main funds, accounting for 12.92% of its total, while retail investors had a net outflow of 50.46 million [3] - Kunming Pharmaceutical saw a net inflow of 44.97 million from main funds, representing 17.50%, with a net outflow of 28.44 million from retail investors [3] - Yunnan Baiyao had a net inflow of 22.29 million from main funds, which is 3.32% of its total, while retail investors experienced a net outflow of 25.09 million [3]

Core Viewpoint - The recent resignation of the chairman and vice chairman of Kunming Pharmaceutical Group has raised market speculation regarding the connection to the company's poor performance in 2025, with significant declines in revenue and net profit reported [1][2]. Group 1: Management Changes - The chairman, Wu Wendo, resigned on January 6, 2026, and was succeeded by Yu Xiang, while the vice chairman, Li Hongshen, submitted his resignation on January 8, 2026, both citing work adjustments [1]. - Wu Wendo's tenure as chairman was less than a year, having been appointed on January 22, 2025, with his term originally set to end on January 22, 2028 [3]. - Li Hongshen also had a similar tenure, with his term ending on the same date as Wu Wendo's [3]. Group 2: Financial Performance - In the first three quarters of 2025, Kunming Pharmaceutical Group reported a revenue of 4.751 billion yuan, a year-on-year decrease of 18%, and a net profit attributable to shareholders of 269 million yuan, down nearly 40% [1]. - The third quarter of 2025 saw a significant drop in performance, with revenue of 1.4 billion yuan, a 30% decline year-on-year, and a net profit of 71 million yuan, down 59% [1]. - The decline in performance was attributed to changes in drug distribution channels and price reductions from centralized drug procurement [1]. Group 3: New Leadership - Yu Xiang, the new chairman, has a background in management with a master's degree in business administration and has held various positions within the China Resources pharmaceutical sector [3]. - His previous roles include vice president of China Resources Sanjiu and general manager of several subsidiaries, indicating a strong alignment with the company's strategic direction [3]. Group 4: Market Reaction - Following the announcement of the management changes, Kunming Pharmaceutical Group's stock price experienced a slight increase, closing at 12.92 yuan per share, with a total market capitalization of 9.8 billion yuan [5].

Core Viewpoint - On January 7, Kunming Pharmaceutical Group announced that Li Hongshen has resigned from multiple positions including Vice Chairman and Director due to work adjustments, and he will no longer hold any position within the company [1][5]. Group 1: Executive Changes - Li Hongshen's resignation includes his roles as Vice Chairman, Director, and member of the Strategic and ESG Committee, as well as the Audit and Risk Control Committee [1][4]. - Recent executive changes at Kunming Pharmaceutical Group also include the resignation of Wu Wendo as Chairman, Yan Wei as President, and Li Lichun as Vice President, all citing work adjustments as the reason for their early departures [4][10]. Group 2: Financial Performance - For the third quarter of 2025, Kunming Pharmaceutical Group reported revenue of approximately 1.4 billion yuan, a year-on-year decrease of 30.19% [4][10]. - The net profit attributable to shareholders was 71 million yuan, reflecting a year-on-year decline of 59.03% [4][10]. - The company attributed the significant decline in revenue and net profit to ongoing model reconstruction and channel transformation, which have led to temporary sales pressure, compounded by delays in the nationwide collection of traditional Chinese medicine and integration of retail pharmacy terminals [4][10][11]. Group 3: Background of Li Hongshen - Li Hongshen, born in August 1978, holds a PhD in Economics and has a background in banking and tobacco industries, having served in various leadership roles prior to his tenure at Kunming Pharmaceutical Group [9]. - He has been in the position of Vice Chairman at Kunming Pharmaceutical Group since March 2024, and during this period, he did not receive compensation from the company but from related parties instead [4][9].