Market Overview - The Chinese traditional medicine sector saw a slight increase of 0.2% on November 26, with Yue Wannianqing leading the gains [1] - The Shanghai Composite Index closed at 3864.18, down 0.15%, while the Shenzhen Component Index closed at 12907.83, up 1.02% [1] Top Performers - Yue Wannianqing (301111) closed at 22.06, up 20.02% with a trading volume of 142,800 shares and a transaction value of 304 million yuan [1] - Zhongheng Group (600252) closed at 2.95, up 10.07% with a trading volume of 1,291,400 shares and a transaction value of 374 million yuan [1] - ST Xiangxue (300147) closed at 9.77, up 4.27% with a trading volume of 196,000 shares [1] Underperformers - ST Changyao (300391) closed at 2.49, down 8.79% with a trading volume of 466,300 shares and a transaction value of 119 million yuan [2] - Jinhua Co. (600080) closed at 8.71, down 3.01% with a trading volume of 259,800 shares [2] - Zhongsheng Pharmaceutical (002317) closed at 25.51, down 1.77% with a trading volume of 1,682,400 shares and a transaction value of 441.9 million yuan [2] Capital Flow - The traditional medicine sector experienced a net outflow of 390 million yuan from institutional investors, while retail investors saw a net inflow of 396 million yuan [2][3] - Major stocks like Zhongheng Group and Yue Wannianqing had significant net inflows from retail investors, while institutional investors showed a net outflow [3]

Core Viewpoint - The company is focused on developing a shareholder return plan based on actual operating conditions, cash flow levels, and future development needs, while also addressing ongoing legal disputes related to past management [1][2]. Financial Performance - In the first three quarters of 2025, the company achieved operating revenue of 3.96 billion, a year-on-year increase of 2.22%, and a net profit attributable to shareholders of 13 million, a significant year-on-year increase of 160.84% [1]. Corporate Restructuring - The company completed its restructuring in 2021, with the controlling shareholder changing to Guangdong Shennongshi Enterprise Management Partnership (Limited Partnership). As of July 4, 2024, the company has removed "other risk warnings" and achieved "delisting" from such warnings [1]. Legal Matters - The company is actively pursuing legal rights regarding claims against former management and related parties, with ongoing court hearings and no final judgment received yet [1]. Debt and Liabilities - In 2022, the company recognized a contingent liability of 609 million based on the value of mortgaged properties related to the Bohai case, which reduced the net profit attributable to shareholders for that year by the same amount [2]. Core Business Development - The company identifies traditional Chinese medicine (TCM) decoction pieces as its most competitive product, with eight modern production bases established across various provinces, capable of producing over 1,000 types and more than 20,000 specifications [2]. Strategic Planning - The company has a strategic plan termed "12355," positioning itself as a smart TCM health brand, focusing on the full chain of TCM decoction pieces and providing health services, with five main business sectors: TCM, medical care, TCM city, health products, and pharmaceutical commerce [3]. Innovation and Intellectual Property - As of mid-2025, the company holds over 600 intellectual property rights, including patents and software copyrights, with 36 national patent products and 13 high-tech products recognized by Guangdong Province [3].

Core Viewpoint - The company, Kangmei Pharmaceutical Co., Ltd., will hold a Q3 2025 earnings presentation on November 21, 2025, to discuss its operational results and financial status with investors [2][3][4]. Group 1: Meeting Details - The earnings presentation is scheduled for November 21, 2025, from 15:00 to 16:00 [4]. - The location of the meeting is the Shanghai Stock Exchange Roadshow Center, accessible via the website [4]. - The format of the meeting will be an online interactive session [3][4]. Group 2: Participation Information - Investors can submit questions from November 14 to November 20, 2025, through the Roadshow Center website or via the company's email [5]. - During the earnings presentation, the company will address commonly asked questions from investors [3][5]. Group 3: Participants - Key participants in the meeting will include the Chairman, General Manager, and other senior executives of the company [4]. Group 4: Contact Information - For inquiries, investors can contact the Securities Affairs Department at the provided phone number [6]. Group 5: Additional Information - After the earnings presentation, investors can view the meeting's details and main content on the Roadshow Center website [7].

Core Viewpoint - Kangmei Pharmaceutical Co., Ltd. is set to hold a Q3 2025 earnings presentation on November 21, 2025, to discuss its operational results and financial status with investors [2][3]. Group 1: Earnings Presentation Details - The earnings presentation will take place on November 21, 2025, from 15:00 to 16:00 [2][7]. - Investors can submit questions from November 14 to November 20, 2025, via the Shanghai Stock Exchange Roadshow Center or through the company's email [2][5]. - The presentation will be conducted in an interactive online format, allowing for real-time communication with investors [3][6]. Group 2: Participants and Contact Information - Key participants in the earnings presentation include Chairman Lai Zhijian, General Manager Ou Guoxiong, and other senior executives [4]. - For inquiries, investors can contact the Securities Affairs Department at 0755-33187777 or via email at kangmei@kangmei.com.cn [8].

证券代码：600518 证券简称：康美药业 编号：临2025-036 康美药业股份有限公司 关于召开 2025 年第三季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法律责任。 重要内容提示： 会议召开时间：2025 年 11 月 21 日（星期五）15:00-16:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 http://roadshow.sseinfo.com/） （三）会议召开方式：上证路演中心网络互动 三、参加人员 公司董事长赖志坚先生，董事兼总经理欧国雄先生，董事、副总经理兼董事 会秘书周云峰先生，独立董事骆涛先生，副总经理兼财务总监宫贵博先生。 投资者可于 2025 年 11 月 14 日（星期五）至 11 月 20 日（星期四）16:00 前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 kangmei@kangmei.com.cn 进 ...

Core Insights - The company reported a revenue of 3,959,603,514.66 yuan for the first three quarters of 2025, representing a year-on-year growth of 2.22% [1] - The net profit attributable to shareholders of the listed company was 13,082,309.31 yuan, showing a significant year-on-year increase of 160.84% [1] Financial Performance - Revenue for the first three quarters of 2025 reached approximately 3.96 billion yuan, indicating a modest growth compared to the previous year [1] - The net profit for the same period was around 13.08 million yuan, reflecting a substantial increase in profitability [1]

智通财经APP讯，康美药业(600518.SH)披露2025年第三季度报告，公司前三季度实现营收39.6亿元，同 比增长2.22%;归母净利润1308万元，同比增长160.84%;扣非净利润亏损3794万元;基本每股收益0.001 元。 ...

证券代码：600518 证券简称：康美药业 编号：临2025-035 康美药业股份有限公司 第十届监事会 2025 年度第三次临时会议决议公告 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。 一、监事会会议召开情况 （一）审议通过《公司 2025 年第三季度报告》 表决结果：赞同票 3 票，反对票 0 票，弃权票 0 票。 具体内容详见公司于同日在上海证券交易所网站（www.sse.com.cn）披露的 《康美药业 2025 年第三季度报告》。 特此公告。 康美药业股份有限公司监事会 二〇二五年十月三十一日 1 康美药业股份有限公司（以下简称公司）第十届监事会 2025 年度第三次临 时会议于 2025 年 10 月 29 日以现场结合通讯表决方式召开，会议通知已于 2025 年 10 月 22 日以通讯、电话方式向公司各位监事发出。本次会议应当出席监事 3 名，实际出席监事 3 名，监事会主席何则正先生主持会议，本次会议的召开符合 《公司法》《公司章程》等相关文件的规定，作出的决议合法、有效。 二、监事会会议审议情况 ...

证券代码：600518 证券简称：康美药业 编号：临2025-034 二、董事会会议审议情况 （一）审议通过《公司 2025 年第三季度报告》 表决结果：赞同票 9 票，反对票 0 票，弃权票 0 票。 康美药业股份有限公司 本议案经董事会审计委员会审议通过。 第十届董事会 2025 年度第四次临时会议决议公告 具体内容详见公司于同日在上海证券交易所网站（www.sse.com.cn）披露的 《康美药业 2025 年第三季度报告》。 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、董事会会议召开情况 康美药业股份有限公司（以下简称公司）第十届董事会 2025 年度第四次临 时会议于 2025 年 10 月 29 日以现场结合通讯表决方式召开，会议通知已于 2025 年 10 月 22 日以通讯、邮件方式向公司各位董事发出。本次会议应当出席董事 9 名，实际出席董事 9 名，董事长赖志坚先生主持会议，公司全体监事、高级管理 人员列席会议，本次会议的召开符合《公司法》《公司章程》等相关文件的规定， 作出的决议合法、有效。 特此 ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥1,382,206,417.41, a decrease of 1.22% compared to the same period last year[3]. - The total profit for the period was ¥2,071,133.57, while the net profit attributable to shareholders was a loss of ¥3,819,080.55[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥34,318,121.40[3]. - The company's total profit for the reporting period reached 60.21 million, driven by the successful implementation of the "one body, two wings" strategy, which significantly improved operational efficiency and increased both revenue and gross margin[9]. - Net profit attributable to shareholders was 160.84 million, reflecting a year-on-year increase due to the rise in total profit[9]. - Other income decreased to 105.14 million, primarily due to adjustments in previous court rulings affecting reported other income[9]. - Investment losses amounted to 57.00 million, mainly due to reduced investment gains from debt settlements in the previous year[9]. - The net profit for the first three quarters of 2025 reached CNY 15,091,123.76, compared to CNY 8,110,876.11 in the same period of 2024, representing an increase of approximately 85.5%[24]. - Operating profit for the current period was CNY 31,731,784.63, a significant recovery from a loss of CNY 40,789,411.08 in the previous year[24]. - The net profit for the first three quarters of 2025 was a loss of ¥753,766.47, an improvement from a loss of ¥62,715,096.69 in the first three quarters of 2024[33]. Assets and Liabilities - The total assets at the end of the reporting period were ¥13,682,934,507.97, a decrease of 0.83% from the end of the previous year[5]. - The equity attributable to shareholders increased to ¥7,186,774,270.00, reflecting a growth of 0.18% compared to the previous year[5]. - Total current assets as of September 30, 2025, amounted to ¥13,438,832,425.34, an increase of 3.0% from ¥13,051,758,104.45 at the end of 2024[30]. - Total assets reached ¥17,265,998,408.94, compared to ¥16,927,317,642.43 at the end of 2024, indicating a growth of 2.0%[31]. - Total liabilities decreased to CNY 6,458,251,341.59 in 2025 from CNY 6,588,939,896.04 in 2024, reflecting a reduction of about 2.0%[20]. - The total equity of the company as of September 30, 2025, was ¥11,997,447,440.21, a slight decrease from ¥11,998,836,702.95 at the end of 2024[31]. Cash Flow - The company reported a cash flow from operating activities of ¥137,842,499.80 for the year-to-date period[3]. - Cash flow from operating activities showed significant improvement, attributed to increased cash receipts from sales and a substantial reduction in tax payments compared to the previous year[9]. - Cash flow from investing activities was negative at 309.45 million, largely due to the absence of cash inflows from the disposal of subsidiaries and idle assets compared to the previous year[9]. - Cash flow from operating activities generated a net inflow of CNY 137,842,499.80, contrasting with a net outflow of CNY 349,692,169.54 in the prior year[27]. - Total cash inflow from operating activities increased to 4,208,820,838.61 RMB in 2025 from 3,960,454,938.73 RMB in 2024, representing a growth of approximately 6.3%[34]. - The total cash outflow from operating activities decreased to 4,215,051,535.64 RMB in 2025 from 4,667,505,434.97 RMB in 2024, indicating improved cash management[34]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 300,150, with the top ten shareholders holding a significant portion of the company's shares[11]. - The largest shareholder, Guangdong Shennongshi Enterprise Management Partnership, holds 25.38% of the shares, totaling 3,509,413,788 shares[12]. Research and Development - Research and development expenses for the first three quarters of 2025 were CNY 32,691,882.64, slightly higher than CNY 32,164,804.25 in the same period of 2024[23]. - Research and development expenses for the first three quarters of 2025 were ¥25,007,274.17, compared to ¥22,940,395.00 in the same period of 2024, showing an increase of 9.0%[32]. Legal Matters - The company is actively pursuing litigation to recover compensation from responsible parties, with a claim amounting to 34.09 million currently under consideration by the court[14]. - The company is closely monitoring ongoing legal proceedings related to its financial disputes, including the case with Bohai International Trust Co., Ltd.[17]. Other Financial Metrics - The company reported a credit impairment loss of 30.06 million, which was lower than the previous year's losses related to debt settlements[9]. - The company received CNY 4,001,236,403.64 in cash from sales of goods and services, an increase from CNY 3,617,637,785.45 in the same period last year[26]. - The company reported a decrease in interest income to CNY 5,576,587.76 from CNY 12,151,440.71 in the previous year, reflecting a decline of approximately 54.0%[24]. - The company did not apply new accounting standards for the year 2025[36].