Company Overview - Zhangzhou Pianzaihuang Pharmaceutical Co., Ltd. was established in 1999, with a registered capital of 603 million yuan as of March 2025. The controlling shareholder is Zhangzhou Jiulongjiang Group Co., Ltd., holding 51.30% of the shares [3][11] - The company specializes in pharmaceutical manufacturing, distribution, and cosmetics, classified under the pharmaceutical and health products manufacturing sector [3][12] Credit Rating - The company received a long-term credit rating of AAA with a stable outlook from LHRatings, effective from August 22, 2025, to August 21, 2026 [1][3] - The rating reflects the company's strong brand recognition, industry position, and product layout, with a competitive advantage in its main product, Pianzaihuang, which is a state-secret variety [3][5] Financial Performance - From 2022 to 2024, the company reported continuous growth in total revenue and profit, with revenues of 86.94 billion yuan, 100.58 billion yuan, and 107.88 billion yuan, and profit totals of 29.78 billion yuan, 33.69 billion yuan, and 35.39 billion yuan respectively [8][12] - As of March 2025, the total assets reached 184.85 billion yuan, with a debt-to-asset ratio of 6.65%, indicating a low debt burden [6][10] Market Position - The company holds a significant market share in the liver disease medication sector, with a 49.61% market share in retail pharmacies as of 2024, ranking first in this category [5][18] - Pianzaihuang has been recognized as a national-level secret traditional Chinese medicine, with exclusive production rights since 1994 [5][17] Research and Development - The company is actively engaged in the secondary development of traditional Chinese medicine, focusing on its advantageous products, which includes ongoing clinical and pharmacological studies [19][20] - As of 2024, the company has completed 11 clinical studies and 23 pharmacological studies related to Pianzaihuang [19] Supply Chain and Raw Materials - The company has established breeding bases for natural musk in Sichuan and Shaanxi to ensure a stable supply of raw materials, which are critical for its products [19][20] - Strategic reserves of natural cow bile are planned to alleviate future supply shortages, with recent regulations allowing imports of cow bile from certain countries [20] Management and Governance - The company has a structured governance framework, including a board of directors and supervisory board, ensuring compliance with corporate governance standards [21][24] - The management team possesses strong backgrounds and experience relevant to the pharmaceutical industry [22][23]

证券代码：600436 证券简称：片仔癀 公告编号：2025-027 漳州片仔癀药业股份有限公司 关于公司主体信用评级上调的公告 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。 公司前次跟踪评级时间为 2016 年 5 月 13 日，前次公司主体信用 评级结果为"AA"、前次评级展望为"稳定"，评级机构为中诚信证 券评估有限公司。 重要内容提示： 本次评级机构联合资信评估股份有限公司在对公司的行业、管理、 经营及财务等情况进行综合分析与评估的基础上，于 2025 年 8 月 22 日出具了《漳州片仔癀药业股份有限公司主体长期信用评级报告》。 本次主体信用评级结果为"AAA"；本次评级展望维持"稳定"，有效 期自 2025 年 8 月 22 日至 2026 年 8 月 21 日。本次信用评级报告详见 公司同日在上海证券交易所网站披露的公告。 漳州片仔癀药业股份有限公司（以下简称"公司"）委托信用评 级机构联合资信评估股份有限公司对公司主体信用进行了评级。 特此公告。 漳州片仔癀药业股份有限公司 董 事 会 2025 年 8 月 ...

证券代码：600436 证券简称：片仔癀 公告编号：2025-026 漳州片仔癀药业股份有限公司 关于2025年半年度业绩快报的公告 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： 一、2025年半年度的主要财务数据和指标 | 单位：人民币万元 | | --- | | 项 目 | 本报告期 | 上年同期 | 增减变动 | | --- | --- | --- | --- | | | | | 幅度（％） | | 营业总收入 | 537,853.71 | 565,058.76 | -4.81 | | 营业利润 | 171,153.89 | 206,390.07 | -17.07 | | 利润总额 | 170,575.93 | 206,224.76 | -17.29 | | 归属于上市公司 股东的净利润 | 144,230.93 | 172,153.96 | -16.22 | | 归属于上市公司股东 的扣除非经常性损益 的净利润 | 145,287.30 | 175,124.32 | -17.04 | 1 / 4 注： ...

漳州片仔癀药业股份有限公司 主体长期信用评级报告 | | | www.lhratings.com 1 联合〔2025〕6294 号 联合资信评估股份有限公司通过对漳州片仔癀药业股份有限公 司的信用状况进行综合分析和评估，确定漳州片仔癀药业股份有限 公司主体长期信用等级为 AAA，评级展望为稳定。 特此公告 联合资信评估股份有限公司 二〇二五年八月二十二日 声 明 一、本报告是联合资信基于评级方法和评级程序得出的截至发表之日的 独立意见陈述，未受任何机构或个人影响。评级结论及相关分析为联合资信 基于相关信息和资料对评级对象所发表的前瞻性观点，而非对评级对象的事 实陈述或鉴证意见。联合资信有充分理由保证所出具的评级报告遵循了真 实、客观、公正的原则。鉴于信用评级工作特性及受客观条件影响，本报告 在资料信息获取、评级方法与模型、未来事项预测评估等方面存在局限性。 二、本报告系联合资信接受漳州片仔癀药业股份有限公司（以下简称 "该公司"）委托所出具，除因本次评级事项联合资信与该公司构成评级委 托关系外，联合资信、评级人员与该公司不存在任何影响评级行为独立、客 观、公正的关联关系。 三、本报告引用的资料主要由该公司或第 ...

Group 1 - The establishment of the Zhangzhou Gaoxin Runxin Health Industry Investment Partnership (Limited Partnership) with a capital contribution of 1 billion yuan [1] - The operational scope includes investment activities using self-owned funds and venture capital limited to investing in unlisted companies [1] - The partnership is co-funded by the wholly-owned subsidiary of Pianzaihuang, Zhangzhou Pianzaihuang Investment Management Co., Ltd. [1]

天眼查工商信息显示，8月20日，漳州高鑫润信大健康产业投资合伙企业（有限合伙）成立，执行事务 合伙人为中信建投资本管理有限公司，出资额10亿人民币，经营范围为以自有资金从事投资活动、创业 投资。合伙人信息显示，该基金由漳州高鑫发展有限公司、片仔癀旗下漳州片仔癀投资管理有限公司、 漳州片仔癀资产经营有限公司等共同出资。 ...

Market Overview - The Shanghai Composite Index closed at 3771.10 points, above the annual line, with a change of 0.13% [1] - The total trading volume of A-shares reached 24603.35 billion yuan [1] Stocks Breaking Annual Line - A total of 28 A-shares have surpassed the annual line today, with notable stocks including: - Meihua Medical (301363) with a deviation rate of 14.81% and a daily increase of 18.00% [1] - Meirui New Materials (300848) with a deviation rate of 4.67% and a daily increase of 5.49% [1] - Kangle Health (833575) with a deviation rate of 4.29% and a daily increase of 4.40% [1] Stocks with Smaller Deviation Rates - Stocks that have just crossed the annual line with smaller deviation rates include: - Guotou Power (600886) with a deviation rate of 0.01% and a daily increase of 1.30% [2] - Shanghai Pharmaceuticals (601607) with a deviation rate of 0.08% and a daily increase of 0.95% [2] - *ST Jinglun (600355) with a deviation rate of 0.20% and a daily increase of 0.86% [2]

Group 1 - The traditional Chinese medicine sector saw a slight increase of 0.37% on August 21, with Renhe Pharmaceutical leading the gains [1] - The Shanghai Composite Index closed at 3771.1, up 0.13%, while the Shenzhen Component Index closed at 11919.76, down 0.06% [1] - Key stocks in the traditional Chinese medicine sector included Renhe Pharmaceutical, which rose by 10.03% to a closing price of 7.02, and Guizhou Bailing, which increased by 3.80% to 6.29 [1] Group 2 - On the same day, the traditional Chinese medicine sector experienced a net outflow of 596 million yuan from institutional investors, while retail investors saw a net inflow of 490 million yuan [2] - The stock performance of New Da Pharmaceutical declined by 6.14%, closing at 12.83, while Tianmu Pharmaceutical fell by 5.81% to 17.50 [2] - The overall trading volume and turnover for the sector indicated mixed investor sentiment, with significant outflows from major stocks [2] Group 3 - Major stocks like Jiuzhitang and Pianzai Guang experienced significant net inflows from institutional investors, with Jiuzhitang seeing a net inflow of 83.81 million yuan [3] - Conversely, Renhe Pharmaceutical had a net outflow of 38.75 million yuan from speculative investors, indicating a shift in trading dynamics [3] - The data reflects a complex interaction between institutional, speculative, and retail investors within the traditional Chinese medicine sector [3]

Group 1 - The stock of Pianzihuang reached a transaction volume of 1.405 billion yuan, marking a new high since October 10, 2024 [2] - The latest stock price increased by 3.45%, with a turnover rate of 1.08% [2] - The previous trading day's total transaction volume for the stock was 1.394 billion yuan [2]

Market Overview - The Shanghai Composite Index is at 3781.13 points, above the annual line, with a change of 0.40% [1] - The total trading volume of A-shares is 1,193.158 billion yuan [1] Stocks Breaking Annual Line - A total of 31 A-shares have surpassed the annual line today, with notable stocks including Meihua Medical, *ST Aowei, and Pianzaihuang, showing divergence rates of 14.13%, 2.94%, and 2.77% respectively [1] - Stocks with smaller divergence rates that have just crossed the annual line include China Wuyi, Huilun Crystal, and Zhuoshengwei [1] Top Stocks by Divergence Rate - Meihua Medical (301363) has a significant increase of 17.30% with a turnover rate of 23.04% and a divergence rate of 14.13% [1] - *ST Aowei (002231) increased by 3.12% with a turnover rate of 7.79% and a divergence rate of 2.94% [1] - Pianzaihuang (600436) rose by 3.70% with a turnover rate of 1.03% and a divergence rate of 2.77% [1] Additional Notable Stocks - Tongrentang (600085) increased by 1.93% with a divergence rate of 1.77% [1] - Maire Medical (300760) rose by 3.40% with a divergence rate of 1.53% [1] - Other stocks with minor divergence rates include Aima Technology (603529) and China Railway Construction (601186) with divergence rates of 1.06% and 0.96% respectively [1]