Core Viewpoint - The acquisition of the traditional Chinese medicine "Wenfei Dingchuan Granules" by the company represents a strategic move into the innovative drug development sector, potentially enhancing its competitive edge and profitability in the market [1][2]. Group 1: Acquisition Details - The company signed a technology transfer contract with Shandong Kangzhonghong Pharmaceutical Technology Development Co., Ltd., acquiring the rights to "Wenfei Dingchuan Granules" for 13.58 million yuan [1]. - The granules are designed to treat chronic obstructive pulmonary disease (COPD) and are expected to fill a gap in the market as there are currently no similar traditional Chinese medicine products approved for sale in China [1]. Group 2: Market Potential - COPD is characterized by irreversible airflow limitation and has a high prevalence and mortality rate, with the World Health Organization predicting it will become the third leading cause of death globally by 2030 [2]. - In China, the number of COPD patients reached 105 million in 2020, driven by factors such as aging population, smoking, and air pollution [2]. - The actual diagnosis and treatment rates for COPD in China are low, at 26.8% and 20.2% respectively, indicating significant room for improvement and market opportunity for COPD medications [2]. Group 3: Strategic Implications - If clinical trials for "Wenfei Dingchuan Granules" proceed successfully, the product could capture a differentiated market segment for stable COPD patients, leveraging the company's brand and nationwide sales network [3]. - The company aims to continue its focus on innovation and research, adhering to its development philosophy of "maintaining integrity and innovating steadily," which will support its position as a leading player in the traditional Chinese medicine industry [3].

证券代码：600436 证券简称：片仔癀 公告编号：2025-007 漳州片仔癀药业股份有限公司 关于签署《技术转让合同》的自愿性公告 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。 一、交易概述 近期，漳州片仔癀药业股份有限公司（以下简称"公司"）与山 东康众宏医药科技开发有限公司（以下简称"康众宏"）签署《技术 转让合同》（以下简称"《合同》"）。经双方友好协商，康众宏将 其拥有的中药 1.1 类新药"温肺定喘颗粒"的技术及其知识产权包括 但不限于生产权、开发权、使用权、转让权等全部权益转让给公司， 转让费总计人民币 1,358 万元。 根据《公司章程》及公司相关制度的规定，《合同》的签署不需 要提交公司董事会及股东大会审议。《合同》的签订不构成关联交易， 也不构成《上市公司重大资产重组管理办法》规定的重大资产重组， 无需经有关部门批准。 二、交易对方的基本情况 名称：山东康众宏医药科技开发有限公司 企业性质：有限责任公司(自然人投资或控股) 成立时间：2002 年 09 月 23 日 温肺定喘颗粒具有补肺温肾、止咳定喘、 ...

Industry Overview - Chinese herbal medicine is a unique drug used in traditional Chinese medicine for disease prevention and treatment, encompassing both herbal medicine and traditional Chinese drugs [1][5] - The market size of Chinese herbal medicine planting in China is projected to grow from 156.3 billion yuan in 2019 to 295.68 billion yuan in 2024, with a year-on-year growth rate of 30.2% [9] - The planting area for Chinese herbal medicine has increased from 52.5 million mu in 2019 to 59.56 million mu in 2024, reflecting a year-on-year growth rate of 5.87% [5][9] Industry Chain - The upstream of the industry chain includes the planting of Chinese herbal medicine, breeding of medicinal animals, and collection of raw materials, with key players such as Baiyunshan, Kangmei Pharmaceutical, and Yunnan Baiyao [2] - The midstream involves the processing and manufacturing of Chinese herbal products, including traditional Chinese medicine and herbal pieces, with companies like Kangmei Pharmaceutical and Huaren Sanjiu leading this segment [2] - The downstream focuses on the distribution and sales of Chinese herbal products through traditional pharmacies and e-commerce platforms [2] Market Dynamics - The demand for Chinese herbal medicine is increasing due to factors such as industrialization, urbanization, and an aging population, alongside supportive government policies [9] - The recognition of traditional Chinese medicine in international markets is also on the rise, contributing to the industry's rapid growth [9] Competitive Landscape - The competitive landscape of the Chinese herbal medicine planting industry is tiered based on registered capital, with the first tier exceeding 1 billion yuan, including companies like Yunnan Baiyao and Kunming Pharmaceutical [11][13] - The second tier has registered capital between 500 million to 1 billion yuan, featuring companies like Yibai Pharmaceutical and Dong'e Ejiao [11][13] - The third tier consists of companies with registered capital below 500 million yuan, such as Foci Pharmaceutical and Zhendong Pharmaceutical [11][13] Development Trends - The establishment of geographical indication and ecological planting models is accelerating the construction of authentic medicinal material protection zones [17] - The standardization of seeds and seedlings is expected to overcome industry bottlenecks, with significant improvements in the coverage of quality seeds [17] - International certifications such as EU organic certification and US NOP standards are becoming essential for export enterprises, enhancing the competitiveness of Chinese herbal products in global markets [18]

投资界-解码LP获悉，近日，漳州片仔癀药业股份有限公司（简称：片仔癀）发布公告，公司基于大健 康产业链上下游考虑，拟投资漳州台商投资区招盈慧康股权投资合伙企业（有限合伙）（暂定名，简 称"招盈基金"）。招盈基金目标募集规模为10亿元，公司全资子公司漳州片仔癀投资管理有限公司（以 下简称"片仔癀投资"）拟作为有限合伙人认缴出资2亿元。此外，片仔癀关联方漳州片仔癀资产经营有 限公司作为有限合伙人拟认缴出资1.5亿元。 据公告披露，基金管理人为招商致远资本，基金主要投资于生物医药、中医药、医疗器械、消费医疗、 医疗服务等领域。 值得一提的是，片仔癀曾多次出手做LP。2024年11月，盈科资本携手片仔癀投资等共同发起设立的片 仔癀盈科基金顺利通过中国证券投资基金业协会的私募投资基金备案，基金总规模10亿元，主要投资于 中医药产业、生物医药、医疗器械、医疗服务等行业的企业或项目。 此外，2016年片仔癀还曾联合丰圆资本等共同发起设立片仔癀丰圆群贤创投基金，片仔癀出资7500万为 基金的基石投资人。 片仔癀药业是国家高新技术企业、中华老字号企业，在传承中药文化、创新国家名药方面成就显著，旗 下全资子公司片仔癀投资贯彻片仔 ...

Group 1 - The company plans to invest in the "Zhangzhou Taishang Investment Zone Zhaoying Huikang Equity Investment Partnership (Limited Partnership)" (tentative name) with a focus on biomedicine, traditional Chinese medicine, medical devices, consumer healthcare, and medical services [2][5] - The investment amount is set at RMB 200 million, representing 20% of the target fundraising scale of RMB 1 billion for the Zhaoying Fund [2][5] - This investment constitutes a related party transaction with associated parties but does not qualify as a major asset restructuring under relevant regulations [2][7] Group 2 - The investment has been approved by the company's board of directors and relevant committees, with related directors abstaining from voting [3][37] - The Zhaoying Fund is still in the preparatory stage and has not yet signed a partnership agreement, with specific terms to be finalized in the formal contract [3][4] - The investment is not expected to have a significant impact on the company's financial status or operating performance for the current year [4][36] Group 3 - The investment aims to enhance the company's competitive capabilities and explore new growth points within the health industry chain [5][34] - The management of the Zhaoying Fund will be handled by a professional investment institution, "Zhaoshang Zhiyuan Capital Investment Co., Ltd." [7][21] - The fund's investment strategy includes equity investments in unlisted companies and private placements of listed companies, primarily in the healthcare sector [29][30] Group 4 - The fund's total scale is RMB 1 billion, with contributions from various partners planned to be made in three phases [23][24] - The management fee is set at 1.6% per year during the investment period and 1% during the exit period [25] - The distribution of profits will follow a specific order based on the partners' contributions, ensuring fair allocation [28]

证券代码：600436 证券简称：片仔癀 公告编号：2025-005 漳州片仔癀药业股份有限公司 关于投资参与招盈基金暨关联交易的公告 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： 拟投资标的名称：漳州台商投资区招盈慧康股权投资合伙企 业（有限合伙）（暂定名，以工商注册为准；以下简称"招盈基 金"）。 拟投资领域：主要投资于生物医药、中医药、医疗器械、消 费医疗、医疗服务等领域。 拟投资金额：漳州片仔癀药业股份有限公司（以下简称"公 司"）全资子公司漳州片仔癀投资管理有限公司（以下简称"片仔 癀投资"）拟作为有限合伙人以自有或自筹资金认缴出资人民币 20,000 万元，占招盈基金目标募集规模的比例为 20%。 本次对外投资系与关联方漳州片仔癀资产经营有限公司（以 下简称"资产经营"）、漳州市旅游投资集团有限公司（以下简称 "旅投集团"）共同投资，构成关联交易，但未构成《上市公司重 大资产重组管理办法》规定的重大资产重组。 过去 12 个月内，除日常关联交易，上市公司与同一关联人进 行的交易累计 1 次，涉及金 ...

参加表决的监事 5 票同意,0 票反对，0 票弃权。议案内容详见公 司同日在上海证券交易所网站披露的《公司关于投资参与招盈基金暨 关联交易的公告》（2025-005 号）。 证券代码：600436 证券简称：片仔癀 公告编号：2025-006 漳州片仔癀药业股份有限公司 第七届监事会第十九次会议决议公告 本公司监事会及全体监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。 漳州片仔癀药业股份有限公司（以下简称"公司"）第七届监事 会第十九次会议于 2025 年 3 月 28 日（星期五）上午 11：00 在公司 片仔癀大厦 21 楼会议室以通讯会议方式召开。会议通知和议案以专 人送达、电子邮件方式发出。本次会议应参加表决的监事 5 名，实际 表决的监事 5 名。会议召开符合《公司法》和《漳州片仔癀药业股份 有限公司章程》（以下简称"《公司章程》"）的有关规定，合法、 有效。本次会议由监事会主席许式彬先生主持，议案经与会监事审议， 做出如下决议： 一、审议通过《公司关于全资子公司与专业投资机构共同投资设 立招盈基金暨关联交易的议案》； 本议案无需提交 ...

证券代码：600436 证券简称：片仔癀 公告编号：2025-004 一、《药物临床试验批准通知书》的主要内容 药品名称：养巢颗粒 剂型：颗粒剂 注册分类：中药 1.1 类 申请事项：药物临床试验申请 受理号：CXZL2400098 漳州片仔癀药业股份有限公司 关于收到《药物临床试验批准通知书》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： 漳州片仔癀药业股份有限公司（以下简称"公司"）收到《药 物临床试验批准通知书》为养巢颗粒新药的临床试验批准，公司还需 开展临床试验并经国家药品监督管理局审评、审批通过后方可生产上 市。 本次收到《药物临床试验批准通知书》将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，从批准临床、临床试验、申报生产到 最终取得药品注册证书,具有周期长、环节多、风险大、投入高的特 点，容易受到某些不可预测因素的影响。敬请广大投资者谨慎决策， 注意防范投资风险。 公司于近日收到国家药品监督管理局核准签发的关于养巢颗粒 的《药物临床试验批准通知书》，现将相关情况公告 ...

结构性分化，把握龙头配置价值 ——中药行业2025年2月月报 长城证券产业金融研究院 分析师：刘鹏 执业证书编号：S1070520030002 邮箱：liupeng@cgws.com 分析师：袁紫馨 执业证书编号：S1070122080041 邮箱：yuanzixin@cgws.com 评级：强大于市（维持） 2025.03.03 01 核心观点 核心观点 1、 2024年 中 药 行 业分 化加大 ，头部 效应凸 显，竞 争格局 有望重 塑 2024年多因素影响行业竞争局，头部企业优势集中，华润系（华润三九、东阿阿胶、昆药集团、江中药业）、片仔癀名贵 OTC龙头、 奇 正藏药 院内贴 膏龙头 通过品 牌壁垒 和渠道 优势普 遍实现 稳健增 长，中 小企业 受成本 端压力 、集采 政策、 医保控 费、消费 疲软等 因素共 振 陷 入 亏 损 或利润 同比下 滑，行 业整体 承压， 2025年 业 绩 压 力减弱 下弹性 有望释 放 2、 估 值 与复盘 • 2月中药板块下跌1.15%， 大 幅 跑输 沪深300和 SW 医 药 生 物指数 ，主要 系科技 成长股 资金虹 吸效应 及"AI+医 疗" 关 注 景 ...

Group 1 - The company Pianzaihuang executed two block trades on February 5, totaling 81,600 shares and a transaction amount of 16.62 million yuan, with a transaction price of 203.69 yuan per share [1] - Over the past three months, the stock has recorded 23 block trades, with a cumulative transaction amount of 163 million yuan [1] - The closing price of Pianzaihuang on February 5 was 203.69 yuan, reflecting an increase of 0.58%, with a daily turnover rate of 0.25% and a total transaction amount of 309 million yuan [1] Group 2 - The stock experienced a net outflow of main funds amounting to 9.29 million yuan for the day, and it has seen a cumulative decline of 1.00% over the past five days, with a total net outflow of 82.43 million yuan [1] - The latest margin financing balance for the stock is 1.635 billion yuan, which has decreased by 18.16 million yuan over the past five days, representing a decline of 1.10% [1]