证券代码：600436 证券简称：片仔癀 公告编号：2026-007 漳州片仔癀药业股份有限公司关于持股 5%以上股东 权益变动触及 1%刻度的提示性公告 投资者漳州市九龙江集团有限公司保证向本公司提供的信息真实、准 确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息 一致。 重要内容提示： 本次权益变动不会使漳州片仔癀药业股份有限公司（以下简称 "公司"）的控股股东及实际控制人发生变化。 | 权益变动方向 | | 比例增加☑ | 比例减少□ | | --- | --- | --- | --- | | 权益变动前合计比例 | 50.97%（限定为 | | 2 位小数） | | 权益变动后合计比例 | 51.04%（限定为 | | 2 位小数） | | 本次变动是否违反已作出的承诺、 意向、计划 | 是□ | 否☑ | | | 是否触发强制要约收购义务 | 是□ | 否☑ | | 1.身份类别 投资者及其一致行 动人的身份 ☑ 控股股东/实际控制人及其一致行动人 □ 其他 5%以上大股东及其一致行动人 □ 合并口径第一大股东及其一致行动人 （仅适用于无控 ...

Core Viewpoint - The controlling shareholder, Jiulongjiang Group, plans to increase its stake in the company by 300 to 500 million yuan between February 1 and July 31, 2026 [1] Group 1: Shareholding Changes - On February 11, Jiulongjiang Group increased its shareholding from 30,752,264.3 shares to 30,795,774.3 shares, raising its ownership percentage from 50.97% to 51.04% [1] - The funds for this increase are sourced from the group's own resources and bank loans [1] Group 2: Compliance and Commitments - The shareholding change does not violate any commitments and does not trigger a mandatory offer [1] - The group has committed not to reduce its stake within 12 months after the completion of the increase and within the statutory period [1] - There is a reminder of the risk that the increase may not meet expectations [1]

Group 1 - The core point of the article is that Pianzaihuang (片仔癀) has announced a collaboration with Shanghai Lidao Pharmaceutical Technology Co., Ltd. to develop the project PZH2107, which has entered Phase II clinical trials for treating fibromyalgia [1] - The first subject has been enrolled in the randomized, double-blind, placebo-controlled, multi-center Phase II clinical trial for PZH2107 [1] - As of the announcement date, there are no approved drugs with the same target and indication as PZH2107 listed on the National Medical Products Administration's website [1]

Core Viewpoint - The collaboration between Pianzaihuang and Shanghai Lidao Pharmaceutical Technology Co., Ltd. focuses on the development of the innovative drug PZH2107 for the treatment of fibromyalgia, which has entered the Phase II clinical trial stage [1][2]. Group 1: Company Developments - Pianzaihuang announced the completion of the first subject enrollment for the Phase II clinical trial of PZH2107, which is designed as a randomized, double-blind, placebo-controlled, multi-center study [1]. - The drug PZH2107 is available in two dosages: 5mg and 20mg, specifically targeting fibromyalgia treatment [1]. - The clinical trial protocol has received approval from the ethics committee of the Beijing Union Medical College Hospital, with the first subject enrolled on February 8, 2026 [1]. Group 2: Industry Insights - Fibromyalgia is a common chronic pain syndrome with a prevalence rate of 2%-4% in the general population, often accompanied by fatigue, sleep, and emotional disorders [2]. - The fibromyalgia treatment market is projected to reach $4.69 billion by 2035, according to ResearchNester [2]. - Current first-line treatments, such as pregabalin, duloxetine, and milnacipran, only partially alleviate symptoms and are associated with significant side effects, indicating an unmet clinical need for more effective treatment options [2].

Group 1 - Baichuan Co., Ltd. announced a recent price increase for some of its main products due to market supply and demand factors, but the sustainability of this price fluctuation remains uncertain, making it difficult to predict the impact on the company's performance [1] - Jincheng Co., Ltd. plans to increase its acquisition of CMH Company by an additional 42.50% stake, which will give it a total ownership of 97.5% and ultimate control over CMH [2] - Xinhang New Materials intends to raise no more than 1 billion yuan through a private placement of A-shares, with the funds allocated for projects including high-performance resin production and a composite materials innovation center [3] Group 2 - SMIC reported a sales revenue of $2.489 billion for Q4 2025, a 4.5% increase quarter-on-quarter, with an annual revenue of $9.327 billion, reflecting a 16.2% year-on-year growth [4] - China Railway Construction recently won 10 major projects, each valued over 1.5 billion yuan, totaling 45.142 billion yuan, which represents 4.23% of the company's audited revenue for 2024 [5] - Shenzhen Airport recorded a passenger throughput of 5.8795 million in January 2026, a year-on-year increase of 2.84% [6] Group 3 - China State Construction reported a new contract total of 399.5 billion yuan in January 2026, marking a 1.8% year-on-year increase [7] - Jindi Group's sales amount in January 2026 decreased by 45.78% year-on-year, with a signed area of 78,000 square meters [8] - Changyuan Power achieved a power generation of 3.971 billion kWh in January 2026, a year-on-year increase of 37.81% [9] Group 4 - Senyuan Electric is expected to win a project from the Southern Power Grid valued at 272 million yuan [10] - Chengyi Pharmaceutical's products are set to be selected for the national centralized procurement of expiring varieties [12] - Xinwufeng reported a 10.71% year-on-year decrease in pig sales volume in January 2026 [13] Group 5 - Shengnong Development's sales revenue in January 2026 increased by 40.48% year-on-year, with chicken sales volume rising by 42.79% [14] - Minglida announced the termination of its investment in a key component manufacturing project due to global economic uncertainties [15] - CITIC Securities reported that its subsidiary, Huaxia Fund, achieved a net profit of 2.396 billion yuan in 2025 [16] Group 6 - Pianzaihuang completed the first subject enrollment for its Phase II clinical trial of PZH2107 [17] - Xinzhou Bang reported a 16.56% year-on-year increase in net profit for 2025 [18] - Ankai Bus produced 761 vehicles in January 2026, a year-on-year increase of 35.65% [19] Group 7 - Weilan Bio plans to acquire a 50% stake in Aidimeng Weilan for 47 million yuan [20] - Ningbo Gaofa intends to establish a wholly-owned subsidiary with an investment of no more than 100 million yuan [21] - Shanghai Airport signed a leasing contract worth approximately 585 million yuan with the Shanghai Airport Group [22] Group 8 - Fosun Pharma's subsidiary received acceptance for a drug registration application [23] - Jindai Home's subsidiary invested in acquiring shares in a North American market company [24] - Huatong Co. reported a 1.45% year-on-year decrease in pig sales revenue in January 2026 [25] Group 9 - Yunnan Energy Investment's Nanchong Wind Power Project has been approved with a total installed capacity of 62,500 kW [28] - Youyan Silicon reported a 10.14% year-on-year decrease in net profit for 2025 [29] - Jinpu Titanium announced a temporary shutdown of its Nanjing Titanium White production due to reduced demand [30] Group 10 - Yipin Hong completed the sale of its stake in Arthrosi for a total of $9.5 billion in upfront payments [31] - Liande Co. stated that its gas turbine business currently has limited supply, with minimal impact on overall performance [32] - Tiens Wind Power signed new contracts worth 870 million yuan in the offshore engineering sector [33] Group 11 - Daqin Railway reported a freight volume of 31.28 million tons in January 2026, a year-on-year increase of 5% [34] - ST Mingcheng successfully dismissed all claims from Beijing Fusheng in a recent court ruling [35] - Zhiyang Innovation is planning to acquire control of Lingming Photon and will continue its stock suspension for up to five trading days [36][37] Group 12 - Fulai New Materials accelerated the commercialization of flexible sensors, preparing for mass production of its third-generation electronic skin products [38] - Minhe Co. reported a 36.89% year-on-year decrease in sales of broiler chicks in January 2026 [39] - Ruiang Gene received government subsidies totaling 2 million yuan [40] Group 13 - Huiyu Pharmaceutical's shareholder was forced to reduce holdings by 0.307% due to a court order [41] - Fuyuan Pharmaceutical's subsidiary obtained a drug registration certificate for a new oral solution [42] - Xuantai Pharmaceutical's product is set to be selected for national procurement [43] Group 14 - Chunqiu Electronics completed the cancellation of 9.1369 million repurchased shares [44] - Jinguang Electric won a bid worth approximately 28.8691 million yuan [45] - Hongda Co. plans to invest approximately 71.43 million yuan in a 110kV power transmission project [46] Group 15 - Nanchao Foods reported a 1.99% year-on-year decrease in revenue for January 2026 [47] - Shisheng Intelligent plans to repurchase shares worth between 17.5 million and 35 million yuan [48]

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： 漳州片仔癀药业股份有限公司（以下简称"公司"）PZH2107Ⅱ 期临床试验完成首例受试者入组对公司本年度的财务状况和经营业 绩无重大影响。 由于药品研发的特殊性，具有周期长、环节多、风险大、投入 高的特点，容易受到政策、技术、市场等多方面因素的影响，审评政 策及产品未来市场竞争形势等存在诸多不确定性风险。 公司将密切关注该药物研发事项的后续进展情况，及时履行信 息披露义务。敬请广大投资者谨慎决策，注意防范投资风险。 近日，公司与上海璃道医药科技有限公司（以下简称"璃道医药"） 合作研发项目—PZH2107（璃道医药内部研发项目代号：LDS 片）， 已完成"LDS 片治疗纤维肌痛的随机、双盲、安慰剂平行对照、多中 心、Ⅱ期临床试验"的首例受试者入组，正式进入Ⅱ期临床试验。现 将相关内容公告如下： 证券代码：600436 证券简称：片仔癀 公告编号：2026-006 漳州片仔癀药业股份有限公司关于 PZH2107 Ⅱ期临床试验完成首例受试者入组的公告 一、药物的基本情 ...

Investment Rating - The report maintains a "Buy" rating for key companies in the pharmaceutical sector, including Innovent Biologics, Efang Biologics, Tianshili, WuXi AppTec, and Mindray Medical [4][28]. Core Insights - The policy-driven upgrade of traditional Chinese medicine (TCM) industry is expected to enhance industry concentration in the medium to long term, benefiting companies with strong quality control and innovative capabilities [2][24]. - The implementation plan for high-quality development of the TCM industry aims to establish a collaborative development system by 2030, focusing on raw material supply, innovation, production quality control, and internationalization [2][23]. - The investment strategy emphasizes the importance of clinical value in the pharmaceutical sector, recommending a focus on innovative drugs and high-end medical devices [3][26]. Summary by Sections Market Review - The A-share pharmaceutical index rose by 0.14%, outperforming the CSI 300 index by 1.47 percentage points [1][16]. - The Hong Kong Hang Seng Medical Health Index fell by 1.41%, but still outperformed the Hang Seng Index by 1.65 percentage points [1][16]. Policy Insights - The Ministry of Industry and Information Technology and other departments issued a plan to enhance the TCM industry, which includes fostering leading enterprises and establishing high-standard raw material production bases [2][24]. - The plan emphasizes digitalization and sustainability, aiming to raise compliance standards and accelerate the exit of smaller companies from the market [2][25]. Company Updates - Recent clinical progress includes the NDA submission for HRS-9531 by Heng Rui Medicine and the initiation of clinical trials for various drugs by other companies [1][31][32]. - Key companies such as Yunnan Baiyao, Baiyunshan, and Taiji Group are highlighted for their strong positions in raw material supply [2][25]. Financial Forecasts - The report provides earnings per share (EPS) forecasts for key companies, with Innovent Biologics projected to have an EPS of 0.49 in 2025 and WuXi AppTec expected to reach an EPS of 5.07 in the same year [4][28]. - The pharmaceutical manufacturing industry reported a revenue decline of 1.2% year-on-year for 2025, with total revenue reaching 2,487 billion yuan [51].

Core Viewpoint - The Chinese traditional medicine sector is experiencing a significant boost due to favorable policies, leading to a strong market performance and increased trading volume in related ETFs and stocks [1][5]. Policy Developments - On February 5, eight departments jointly issued the "Implementation Plan for the High-Quality Development of the Traditional Chinese Medicine Industry (2026-2030)," outlining goals and measures for the next five years to enhance the entire industry chain [5]. - The plan aims to establish a collaborative development system for the traditional Chinese medicine industry by 2030, focusing on stable supply of key raw materials, technological breakthroughs, and the cultivation of leading enterprises [5]. Market Performance - The leading traditional Chinese medicine ETF (560080) opened with a jump of over 2%, marking a strong upward trend with significant trading volume exceeding 160 million yuan within the first 20 minutes of trading [1]. - Notable stocks in the sector include Longshen Rongfa, Shanghai Kaibao, and Panlong Pharmaceutical, which saw increases of over 6%, while Hongri Pharmaceutical and Yiling Pharmaceutical rose by over 5% and 4%, respectively [2][3]. Investment Opportunities - Pacific Securities highlights the rapid growth of the traditional Chinese medicine market, driven by comprehensive policy support across various aspects, including registration, quality control, and cultural promotion [6]. - The sector is expected to benefit from a recovery in consumer demand, particularly due to aging demographics and increased health awareness, which will drive sales of consumer-oriented traditional Chinese medicine products [8]. Strategic Focus Areas - Three main investment themes are identified: 1. Price governance, focusing on companies with competitive advantages that can benefit from price reductions [8]. 2. Consumption recovery, driven by macroeconomic improvement and increased domestic demand [10]. 3. State-owned enterprise reform, which presents opportunities for performance improvement through efficiency gains [10]. Future Outlook - The traditional Chinese medicine industry is anticipated to undergo a reshuffling, with a focus on classic formulations and evidence-based medicine, positioning leading companies favorably for future growth [7].

Core Viewpoint - The Medical Health Index (980016) closed at 6134.0 points on February 5, with a slight increase of 0.33%, and a total trading volume of 27.221 billion yuan, indicating active market participation [1] Group 1: Index Performance - On the day, 27 stocks within the Medical Health Index rose, with Pianzaihuang leading with a 4.0% increase, while 23 stocks declined, with Changshan Pharmaceutical experiencing the largest drop of 5.2% [1] - The index's turnover rate was recorded at 1.04%, reflecting the liquidity of the stocks involved [1] Group 2: Top Constituents - The top ten constituents of the Medical Health Index include: - WuXi AppTec (603259) with a weight of 10.68%, closing at 97.11 yuan, up 1.57%, and a market cap of 289.753 billion yuan [1] - Hengrui Medicine (600276) with a weight of 9.56%, closing at 58.16 yuan, up 0.97%, and a market cap of 386.020 billion yuan [1] - Mindray Medical (300760) with a weight of 8.13%, closing at 192.10 yuan, down 0.29%, and a market cap of 232.910 billion yuan [1] - Other notable constituents include Pianzaihuang (600436), Aier Eye Hospital (300015), and Changshan Pharmaceutical (300255) [1] Group 3: Capital Flow - The net inflow of main funds into the Medical Health Index constituents totaled 505 million yuan, while retail investors saw a net outflow of 289 million yuan [1] - Detailed capital flow indicates that WuXi AppTec had a net inflow of 213 million yuan, while Changshan Pharmaceutical faced a significant outflow of 52 million yuan from retail investors [2]

证券之星消息，2月5日，国企改革（399974）指数报收于1972.38点，跌0.69%，成交1710.44亿元，换 手率0.87%。当日该指数成份股中，上涨的有42家，片仔癀以4.0%的涨幅领涨，下跌的有56家，金风科 技以9.02%的跌幅领跌。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 国企改革（399974）指数十大成份股详情如下： 资金流向方面，国企改革（399974）指数成份股当日主力资金净流出合计72.74亿元，游资资金净流入 合计23.4亿元，散户资金净流入合计49.34亿元。成份股资金流向详情见下表： ...