Core Viewpoint - A significant antitrust fine exceeding 350 million yuan has been imposed on four pharmaceutical companies for colluding to raise the price of dexamethasone phosphate sodium raw materials, with the fines totaling approximately 354 million yuan [1][6][11]. Group 1: Companies Involved - The companies involved in the antitrust case include Zhejiang Xianju Pharmaceutical Co., Ltd., Tianjin Pharmaceutical Co., Ltd., Jiangsu Lianhuan Pharmaceutical Co., Ltd., and Xi'an Guokang Ruijin Pharmaceutical Co., Ltd. [1][4][6] - Zhejiang Xianju Pharmaceutical received the highest penalty of approximately 195 million yuan, which includes the confiscation of illegal gains and a fine based on 8% of its 2023 sales [3][4]. - Tianjin Pharmaceutical was fined approximately 69.19 million yuan, while Jiangsu Lianhuan was fined around 61.04 million yuan [1][4]. Group 2: Details of the Antitrust Violations - The antitrust violations occurred over a period of two years and four months, during which the companies engaged in price-fixing and supply manipulation of dexamethasone phosphate sodium, a critical medication during the COVID-19 pandemic [5][7][9]. - The companies collectively agreed to raise prices and implemented a supply cut, leading to increased costs for downstream formulations [9][11]. - The price of dexamethasone phosphate sodium was raised significantly, with Xianju Pharmaceutical increasing its price from 8,200 yuan to 10,000 yuan per kilogram, and other companies following suit with similar price hikes [8][11]. Group 3: Individual Accountability - The antitrust enforcement agency has also pursued individual accountability, imposing fines on three company executives of 600,000 yuan each, and an additional 500,000 yuan fine on the individual who organized the collusion, Guo Xiangguo [10][12]. - This case marks a continuation of the trend towards holding individuals accountable for corporate antitrust violations, reinforcing the importance of compliance within the industry [12][13].

Core Viewpoint - The company plans to hold an investor briefing on May 16, 2025, to discuss its 2024 annual performance and financial results, allowing for interactive communication with investors [2][3]. Group 1: Meeting Details - The investor briefing is scheduled for May 16, 2025, from 13:00 to 14:45 [4]. - The meeting will take place at the Shanghai Stock Exchange Roadshow Center and will be conducted via video live streaming and online interaction [4]. - Investors can participate by logging into the Roadshow Center during the specified time [4]. Group 2: Participation and Interaction - Investors can submit questions from May 9, 2025, to May 15, 2025, through the Roadshow Center's website or via the company's email [5]. - The company will address commonly asked questions during the briefing [5]. - Contact information for inquiries includes a designated contact person and email address [5]. Group 3: Attendees - Key attendees of the briefing will include the Chairman, General Manager, Independent Directors, Chief Financial Officer, and Board Secretary [4].

证券代码：600488 证券简称：津药药业 编号：2025-031 津药药业股份有限公司 关于召开 2024 年度业绩说明会的公告 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个别及连带责任。 重要内容提示： 投资者可于2025年05月09日（星期五）至05月15日（星期四） 16:00期间登录上证路演中心网站首页点击"提问预征集"栏目 或通过公司邮箱（tjpc600488@vip.sina.com）进行提问。公司将 在说明会上对投资者普遍关注的问题进行回答。 津药药业股份有限公司（以下简称"公司"）已于2025年3 月27日发布公司2024年年度报告，为便于广大投资者更全面深入 地了解公司2024年度经营成果、财务状况，公司计划于2025年5 月16日（星期五）13:00-14:45举行2024年度业绩说明会，就投资 者关心的问题进行交流。 一、说明会类型 本次投资者说明会以视频结合网络互动的形式召开，公司将 针对2024年度的经营成果及财务指标的具体情况与投资者进行 互动交流和沟通，在信息披露允许的范围内就投资者普遍关注的 问题进 ...

Core Viewpoint - The recent antitrust penalties against three pharmaceutical companies in China highlight the exploitation of market concentration to inflate drug prices, particularly during the COVID-19 pandemic, raising concerns about unethical practices in the industry [1][7]. Group 1: Antitrust Case Details - Tianjin Municipal Market Supervision Administration imposed a total fine of 326 million yuan on Tianjin Pharmaceutical, Jiangsu Lianhuan Pharmaceutical, and Xianju Pharmaceutical for colluding to manipulate the price of Dexamethasone Sodium Phosphate [1][7]. - The price of Dexamethasone Sodium Phosphate surged from approximately 7,900 yuan per kilogram in November 2021 to 45,000 yuan per kilogram by November 2023, indicating a significant price manipulation [1][5]. Group 2: Market Dynamics - The concentration of market competition is a key factor enabling these companies to control raw material and formulation prices, with the three companies holding four out of eight approved production licenses for Dexamethasone Sodium Phosphate [3][4]. - The demand for Dexamethasone Sodium Phosphate injections increased significantly during the pandemic, allowing companies to profit even as costs rose, leading to further price hikes [4][5]. Group 3: Regulatory Environment - The Chinese government has adopted a "zero tolerance" approach towards monopolistic behaviors in the pharmaceutical sector, as evidenced by the total fines of 1.772 billion yuan for antitrust cases in 2023 [7]. - The ongoing normalization of national medical insurance procurement and the enhancement of antitrust regulatory frameworks are expected to reduce the gray areas of vertical monopolies in the pharmaceutical industry [7].

Core Viewpoint - The article discusses the significant impact of antitrust penalties on the financial performance of Xianju Pharmaceutical and other companies involved in price-fixing agreements for dexamethasone phosphate raw materials during the COVID-19 pandemic [1][3]. Group 1: Antitrust Penalties - Xianju Pharmaceutical was fined 195 million yuan for monopolistic practices, which accounts for 4.88% of its 2024 revenue and 49.17% of its net profit [1]. - Tianyao Pharmaceutical and Lianhuan Pharmaceutical were also penalized, with fines of 69.19 million yuan and 61.04 million yuan, respectively [1]. - The companies formed a price alliance, raising the price of dexamethasone phosphate from 0.35 yuan to a peak of 98.76 yuan, an increase of nearly 282 times [1]. Group 2: Financial Impact on Companies - In 2024, Xianju Pharmaceutical's net profit fell by 29.46% to 397 million yuan, largely due to the antitrust fine [2][4]. - The cash flow from operating activities for Xianju Pharmaceutical decreased by 33.05%, and cash reserves dropped by 16.76% [4]. - Tianyao Pharmaceutical's revenue in 2024 was 3.215 billion yuan, down 15%, but its net profit increased by 14% due to the fine being accounted for in 2025 [6][7]. Group 3: Market Adjustments and Strategies - Xianju Pharmaceutical is shifting its product structure and expanding into overseas markets to mitigate the impact of declining revenues from dexamethasone products [5]. - The company is focusing on high-margin areas such as respiratory and dermatological products, with sales in respiratory products growing by 31% in 2024 [5]. - Tianyao Pharmaceutical's steroid raw material business also saw a revenue decline of 16.9% in 2024, indicating broader market pressures [7]. Group 4: Ongoing Challenges - Tianyao Pharmaceutical has faced multiple antitrust penalties over the past four years, indicating a pattern of regulatory scrutiny [8]. - Lianhuan Pharmaceutical's future penalties remain uncertain as it plans to appeal the decision, highlighting the ongoing challenges within the industry [8].

在竞争激烈的医药市场中，津药药业积极应对挑战，通过优化公司治理结构、加强信息披露管理等举 措，不断提升企业的综合实力与市场竞争力，为实现可持续发展奠定坚实基础。 优化治理架构，夯实发展基石 2024年，津药药业董事会充分发挥核心领导作用，面对复杂多变的市场环境，秉持公司长远发展愿景， 审慎规划战略布局。这一年，董事会共召开9次会议，董事们积极参与，对公司重大决策进行深入探讨 与审议，确保决策的科学性与有效性；监事会作为公司治理的重要监督力量，在2024年同样发挥了关键 作用。全年共召开6次会议，对公司资本运作、经营管理、财务状况以及高级管理人员履职情况进行全 面监督。 在监督与管理方面，津药药业强化内部管理机制，提升风险防控能力。审计与风险控制委员会严格审查 公司内控及财务报表，独立董事持续监督关联交易，切实维护中小投资者权益。同时，津药药业根据法 律法规及公司实际需求，对专门委员会进行更名并扩充职责，修订多项公司治理制度，包括《公司章 程》《股东大会议事规则》等，为公司规范运作提供了坚实的制度保障。 加强信息披露，搭建沟通桥梁 信息披露是公司与资本市场沟通的重要桥梁，津药药业高度重视此项工作。2024年度， ...

Group 1: Administrative Penalty - The company received an administrative penalty decision from the Tianjin Market Supervision Administration for violating the Anti-Monopoly Law by engaging in price-fixing agreements related to dexamethasone phosphate sodium raw materials [1][2] - The total penalty amounts to 69,192,350.36 yuan, which includes the confiscation of illegal gains of 42,764,400.00 yuan and a fine of 26,427,950.36 yuan after an 80% reduction [2] - The penalty represents 2.15% of the company's audited revenue and 51.85% of the net profit attributable to shareholders for the most recent fiscal year [3] Group 2: Company Impact and Response - The penalty will reduce the company's net profit attributable to shareholders by 69,192,350.36 yuan for 2025, but it does not trigger any mandatory delisting conditions under the Shanghai Stock Exchange rules [3] - The company has implemented corrective measures, including developing a sales plan to lower prices for dexamethasone phosphate sodium, enhancing its anti-monopoly compliance system, and conducting compliance training for all employees [4] Group 3: Product Registration - The company's subsidiary, Tianjin Pharmaceutical Co., Ltd., received a registration certificate from the Dominican Republic's Ministry of Health for its injectable methylprednisolone acetate, allowing it to produce and sell the product in that market [6][8] - The injectable methylprednisolone acetate is a corticosteroid used for anti-inflammatory and immunosuppressive treatments, with global sales of methylprednisolone injection estimated at 526 million USD in 2023 [7]

【导读】津药药业违反《反垄断法》被罚没6919.24万元 中国基金报记者 江右 因为与其他经营者实施了违反《反垄断法》的行为，津药药业收到行政处罚决定书，被罚没6919.24万元。 实施垄断行为，被罚没6919.24万元 4月30日收盘后，上市公司津药药业披露当天收到天津市市场监督管理委员会下发的《行政处罚决定书》。 津药药业表示，天津市市场监督管理委员会认为，公司与具有竞争关系的其他经营者，就地塞米松磷酸钠原料药所实施的一系列行为，违反了《反垄断 法》第十七条第（一）项的规定，属于达成并实施"固定或者变更商品价格"垄断协议的行为，应当依据《反垄断法》第五十六条的规定依法追究法律责 任。 根据《反垄断法》第五十六条第一款、第五十九条，综合考虑公司违法行为的性质、程度、持续时间、消除违法后果的情况、积极进行整改等因素，天津 市市场监督管理委员会责令公司停止违法行为，并作出行政处罚如下：（一）没收违法所得42,764,400.00元；（二）并处2023年度销售额8%的罚款 132,139,751.80元，结合宽大情形，减免罚款额的80%，减免后实际罚款26,427,950.36元。以上罚没款合计69,192,35 ...

地塞米松磷酸钠具有抗炎、抗过敏、抗风湿、免疫抑制作用，常用于过敏及自身免疫性疾病。贝壳财经 记者在国家药监局官网查询发现，目前，地塞米松磷酸钠原料药有多个批文，生产单位包括津药药业、 上海新华联制药有限公司、仙琚制药、西安国康瑞金制药、江苏联环药业等。 针对行政处罚对公司影响，津药药业在公告中表示，上述罚没款合计金额占公司2024年经审计的营收、 归母净利润的比例分别为2.15%和51.85%。 公司进一步表示，目前地塞米松磷酸钠原料药产品生产和销售情况正常。上述罚没款合计金额将相应减 少公司2025年归母净利润6919.23万元。 津药药业称，已责令相关部门第一时间组织整改，采取四方面整改措施。整改措施提及，已制定可落实 的销售方案，发布了降价通知，主动下调地塞米松磷酸钠原料药价格，确保药品供应。 根据津药药业发布的今年一季度报告，报告期内，公司营业收入约7.86亿元，同比减少9.03%；归母净 利润5805.01万元，同比增长0.07%。 随着多家上市公司披露《行政处罚决定书》，针对地塞米松磷酸钠原料药的垄断行为正在逐步浮出水 面。 4月30日，津药药业发布公告表示，因涉及达成并实施"固定或者变更商品价格 ...

Group 1 - National Integrated Circuit Industry Fund plans to reduce its stake in Jiangbolong by no more than 4,159,815 shares, accounting for 1.00% of the total share capital, between May 27, 2025, and August 26, 2025 [1] - The reduction is due to the fund's operational management needs and will be executed through centralized bidding at market prices [1] - The implementation of this reduction plan will not lead to a change in the company's control or significantly impact its governance structure and ongoing operations [1] Group 2 - Haitai Weiye has received approval from the China Securities Regulatory Commission for its H-share issuance, planning to issue no more than 710.52 million overseas listed ordinary shares [2] - The listing will take place on the main board of the Hong Kong Stock Exchange, but the matter still carries uncertainties [2] Group 3 - Fudan Zhangjiang announced a price reduction of at least 35% for its Doxorubicin Liposome Injection starting May 1, 2025, which is expected to negatively impact sales revenue [3] - The drug generated approximately RMB 210 million in sales for the year 2024, representing 29% of the company's total sales revenue [3] - The price adjustment may lead to a risk of single product loss for the drug in 2025 [3] Group 4 - Xinyuan Technology's director expressed inability to guarantee the authenticity and completeness of the 2024 annual report and related financial documents, citing significant issues identified by the audit firm [4] - The company has received a notice of investigation from the securities regulatory authority, and the audit report issued was unable to express an opinion [4] Group 5 - ST Xinchao announced that its stock will be suspended from trading starting May 6, 2025, due to the inability to disclose the audited 2024 annual report and the 2025 Q1 report within the legal timeframe [5] - If the company fails to disclose the 2024 annual report within two months of the suspension, it will face delisting risk warnings [5] Group 6 - Huakang Clean has pre-won a project worth RMB 167 million [6] - Tongguang Cable has pre-won a procurement project from the State Grid valued at RMB 142 million [6] - Fengmao Co. has increased its investment in a production base in Thailand to RMB 26 million [6] Group 7 - Huaren Pharmaceutical's wholly-owned subsidiary has obtained a medical device registration certificate for wound dressings [7] Group 8 - Major shareholders of Kairun Co. plan to reduce their holdings by no more than 9 million shares [10] - CITIC Securities has completed its reduction plan for China Gold [10] - The reduction plan for Hengfeng Information's director and vice president has been completed [10]