Group 1 - As of July 9, the total market financing balance reached 1.86 trillion yuan, an increase of 3.84 billion yuan from the previous trading day, marking three consecutive days of growth [1] - The financing balance for the Shanghai Stock Exchange was 932.96 billion yuan, up by 1.88 billion yuan, while the Shenzhen Stock Exchange's balance was 916.86 billion yuan, increasing by 1.96 billion yuan [1] - A total of 1,875 stocks experienced net financing inflows on July 9, with 434 stocks having net inflows exceeding 10 million yuan, and 11 stocks exceeding 100 million yuan [1] Group 2 - The top net financing inflow was seen in Zijin Mining, with a net inflow of 310 million yuan, followed by Luoyang Molybdenum and Dongshan Precision, with net inflows of 228 million yuan and 167 million yuan, respectively [2] - In terms of industry distribution, the sectors with significant net inflows included non-ferrous metals, electric equipment, and pharmaceutical biology, with three, two, and two stocks respectively [1][2] - The average ratio of financing balance to circulating market value for stocks with large net inflows was 3.28%, with Jin Kai New Energy having the highest ratio at 8.52% [2]

Market Overview - On July 9, the Shanghai Composite Index fell by 0.13%, the Shenzhen Component Index decreased by 0.06%, while the ChiNext Index rose by 0.16%. The CSI 300 Index declined by 0.18% [1] - Among the tradable A-shares, 1,856 stocks rose, accounting for 34.33%, while 3,327 stocks fell [1] Capital Flow - The main capital saw a net outflow of 38.536 billion yuan throughout the day. The ChiNext experienced a net outflow of 13.082 billion yuan, the STAR Market saw a net outflow of 3.036 billion yuan, and the CSI 300 constituents had a net outflow of 7.698 billion yuan [1] - Only three industries saw net inflows of capital: Media industry with a rise of 1.35% and a net inflow of 1.055 billion yuan; Retail industry with a rise of 0.48% and a net inflow of 0.864 billion yuan; and Construction Decoration industry with a rise of 0.37% and a net inflow of 4.034 million yuan [1] Industry Performance - Among the 28 industries that experienced net outflows, the Electronics industry had the largest outflow, declining by 0.82% with a net outflow of 7.789 billion yuan. The Non-ferrous Metals industry followed with a decline of 2.26% and a net outflow of 5.412 billion yuan [1] - The top-performing industries included Media and Agriculture, Forestry, Animal Husbandry, and Fishery, with increases of 1.35% and 0.65%, respectively. The worst-performing industries were Non-ferrous Metals and Basic Chemicals, with declines of 2.26% and 0.85% [1] Individual Stock Performance - A total of 1,686 stocks saw net inflows, with 524 stocks having inflows exceeding 10 million yuan. Notably, 57 stocks had inflows exceeding 100 million yuan, with Kuaijingtong leading at an increase of 10.10% and a net inflow of 896 million yuan [2] - The stocks with the largest net outflows included Zhongyou Capital, Dongfang Caifu, and Zijin Mining, with outflows of 721 million yuan, 706 million yuan, and 625 million yuan, respectively [2]

Core Viewpoint - The legal opinion letter from Guangdong Xinda Law Firm confirms that Kangmei Pharmaceutical Co., Ltd.'s plan to repurchase and cancel unvested restricted stocks under its first and second stock incentive plans complies with relevant laws and regulations [4][6][8]. Summary by Sections Repurchase and Cancellation Conditions - The decision to terminate the first and second stock incentive plans and repurchase unvested restricted stocks is based on the provisions of the Management Measures and has been approved by the company's board and shareholders [4][6]. Decision-Making Process and Information Disclosure - On September 14, 2021, the company held meetings to approve the termination of the first and second stock incentive plans and the repurchase of unvested stocks, with independent directors expressing agreement [6][7]. - The company disclosed the resolutions through official announcements [7]. Involved Parties, Share Quantity, and Cancellation Date - The repurchase involves 816 incentive recipients [8]. - The total number of shares to be repurchased and canceled is 34.97 million shares [8]. - The company has applied for the necessary procedures with the China Securities Depository and Clearing Corporation [8]. Conclusion - The legal opinion concludes that the repurchase and cancellation process meets all necessary legal and regulatory requirements [8].

关于 康美药业股份有限公司 股权激励限制性股票回购注销实施的 法律意见书 中国 深圳 益田路6001号太平金融大厦11、12楼 邮政编码：518038 11,12/F, TAIPING FINANCE TOWER, YITIAN ROAD, SHENZHEN, P. R. CHINA 电话(Tel)：(0755)88265288 传真(Fax)：(0755) 88265537 电子邮件（E-mail）：info@sundiallawfirm.com 网站（Website）：www.sundiallawfirm.com 信達律師事務所 广东信达律师事务所 关于康美药业股份有限公司 股权激励限制性股票回购注销实施的 法律意见书 目 | 一、本次回购注销的条件 . ининиништинииши... 3 | | --- | | 二、本次回购注销的决策程序及信息披露 . | | 三、本次回购注销涉及的对象、股份数量及注销日期 | | (一 ) 本次回购注销涉及的对象 | | (二 ) 本次回购注销的股份数量 | | (三) 本次回购注销的注销日期 | | 四、结论意见 | 法律意见书 法律意见书 信达励字（2025 ...

证券代码：600518 证券简称：康美药业 编号：临2025-026 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： 交易简要内容：康美药业股份有限公司（以下简称康美药业或公司）与广 州资产管理有限公司（以下简称广州资产）存在历史债务纠纷，公司全资孙公司 成都康美药业生产有限公司（以下简称成都康美）对前述 4,939.11 万元债务提 供抵押担保。广东省高级人民法院于 2023 年 11 月作出（2022）粤民终 3992 号 《民事判决书》，成都康美需对康美药业所负前述债务承担抵押责任，后广州资 产向法院申请强制执行。近期，广州资产在阿里平台公开拍卖前述债权，为协助 公司化解历史债务问题，保障孙公司正常生产经营，公司关联方广州医药集团有 限公司（以下简称广药集团）近日通过公开竞买方式以 4,350 万元取得该笔债权 及其从属的抵押权。本次债权交易双方主体为广州资产与广药集团，公司及孙公 司无需履行内部审议程序。 本次交易构成关联交易：交易完成后，关联方广药集团将成为公司新的债 权人及孙公司抵押权人，该交易被动 ...

康美药业股份有限公司 关于股权激励限制性股票回购注销实施公告 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： | 回购股份数量（股） | 注销股份数量（股） | | 注销日期 | | | | | --- | --- | --- | --- | --- | --- | --- | | 34,970,000 | 34,970,000 | 2025 | 年 7 | 月 | 9 | 日 | 一、本次限制性股票回购注销的决策与信息披露 2019 年 8 月 2 日，康美药业股份有限公司（以下简称公司）召开第八届董 事会 2019 年度第三次临时会议、第八届监事会 2019 年度第二次临时会议，分别 审议通过了《关于终止实施第一期限制性股票激励计划的议案》《关于终止实施 第二期限制性股票激励计划的议案》，国浩律师（广州）事务所出具了相关的法 律意见。具体内容详见公司于 2019 年 8 月 3 日在上海证券交易所网站披露的《康 美药业关于终止实施限制性股票激励计划的公告》（公告编号：临 2019-064）、 《国浩律师（广 ...

证券代码：600518 证券简称：康美药业 编号：临2025-024 公司收到广东省揭阳市中级人民法院《执行裁定书》，揭阳中院裁定变 更中国信达资产管理股份有限公司安徽省分公司为（2024）粤 52 执 62 号案件的 申请执行人。 康美药业股份有限公司（以下简称公司）于近日收到广东省揭阳市中级人民 法院（以下简称揭阳中院）（2025）粤 52 执异 18 号《执行裁定书》，执行人渤 海国际信托股份有限公司（以下简称渤海信托）与被执行人康美（亳州）华佗国 际中药城有限公司（以下简称康美中药城）、亳州市新世界商贸有限公司（以下 简称新世界商贸）、康美（亳州）世纪国药中药有限公司（以下简称世纪国药中 药）等借款合同纠纷案过程中，中国信达资产管理股份有限公司安徽省分公司（以 下简称信达资产安徽分公司）申请将其变更为执行人，现揭阳中院裁定变更信达 资产安徽分公司为（2024）粤 52 执 62 号案件的申请执行人，具体如下： 一、诉讼案件基本情况 （一）2022 年 1 月 29 日，公司披露了《康美药业关于涉及重大诉讼的公告》 （公告编号：临 2022-018）。主要内容为：康美实业投资控股有限公司（以下 简称康美 ...

Core Viewpoint - The article discusses the significant impact of centralized procurement policies on the traditional Chinese medicine (TCM) industry, highlighting the challenges and potential restructuring within the sector as it enters a new era of competition and pricing pressures [1][2][3]. Group 1: Impact of Centralized Procurement - The centralized procurement system has greatly affected the Western medicine industry, and similar pressures are now being felt in the TCM sector as it officially enters the "procurement era" [1][3]. - The scope of centralized procurement for TCM has expanded from 15 provinces to nationwide, with the number of products increasing to 45, indicating a growing impact on the industry [10][9]. - Many selected companies are pricing their products close to cost, leading to expectations of profit declines in the TCM industry by 2025 [11][12]. Group 2: Market Dynamics and Price Trends - Despite the challenges, the price of raw materials for TCM has significantly decreased this year, with the Chinese herbal medicine price index dropping over 20% from its peak [14][13]. - Some companies that won bids in the procurement process are experiencing unexpectedly high profits due to fixed hospital procurement prices, leading to optimistic sales forecasts [17]. - The average price drop for selected products in the latest procurement round was 47.38%, with some products seeing reductions as high as 69.3% [37][38]. Group 3: Industry Restructuring and Future Outlook - The TCM industry is expected to undergo significant restructuring, with a potential reduction in the number of suppliers as centralized procurement becomes more prevalent [23][24]. - The government has issued policies aimed at enhancing the quality and development of the TCM industry, indicating a push towards modernization and improved standards [25]. - The performance of TCM companies has been under pressure, with a reported 4.6% decline in total revenue and an 18.7% drop in net profit for 75 listed TCM companies in 2024 [29][28]. Group 4: Competitive Landscape - The competitive landscape is shifting, with traditional TCM giants facing challenges as their unique product strategies are tested by centralized procurement [33][40]. - Companies that previously opted out of insurance reimbursement to avoid price cuts are now facing increased pressure as more exclusive products enter centralized procurement [34][36]. - The article suggests that only companies with strong R&D capabilities, unique products, and brand advantages will thrive in the increasingly competitive environment [44][42].

Group 1 - The average stock price of A-shares is 11.51 yuan, with 60 stocks priced below 2 yuan, the lowest being *ST Jiyao at 0.21 yuan [1] - Among the low-priced stocks, 24 are ST stocks, accounting for 40% of the total [1] - The Shanghai Composite Index closed at 3367.46 points on May 16 [1] Group 2 - Among the low-priced stocks, 10 stocks increased in price, with *ST Jinguang, Puli Tui, and *ST Jinke leading with increases of 4.76%, 2.27%, and 1.97% respectively [1] - 33 stocks decreased in price, with ST Lingnan, *ST Xingguang, and *ST Baoying showing the largest declines of 5.23%, 4.88%, and 3.14% respectively [1] - The stock price distribution indicates that both high-priced and low-priced stocks constitute a relatively small proportion of the A-share market [1]

证券代码：600518 证券简称：康美药业 编号：临2025-023 康美药业股份有限公司（以下简称公司）已于 2025 年 4 月 19 日发布公司 2024 年年度报告、于 2025 年 4 月 30 日发布 2025 年第一季度报告，为便于广大 投资者更全面深入地了解公司2024年度及2025年第一季度经营成果、财务状况， 公司计划于 2025 年 5 月 23 日（星期五）下午 15:00-16:30 举行 2024 年度暨 2025 年第一季度业绩说明会，就投资者关心的问题进行交流。 一、业绩说明会类型 康美药业股份有限公司关于召开 2024 年度暨 2025 年第一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 05 月 23 日（星期五）下午 15:00-16:30 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 ...