天士力8月6日晚间发布公告称，根据公司发展及生产经营管理的需要，经董事会提名、薪酬与考核委员 会审核，公司董事会聘任王一民先生为副总经理，任期自本次董事会审议通过之日起至第九届董事会任 期届满时止。 （文章来源：每日经济新闻） ...

证券代码：600535 证券简称：天士力 编号：临 2025-049 号 天士力医药集团股份有限公司 关于聘任高级管理人员的公告 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。 天士力医药集团股份有限公司（以下简称"公司"）第九届董事会第 11 次会 议于 2025 年 8 月 5 日以通讯方式召开，会议通知于 2025 年 8 月 1 日以书面方式 发出，会议应到董事 15 人，实到董事 15 人。会议以 15 票赞成，0 票反对，0 票 弃权的表决结果审议通过了《关于聘任公司高级管理人员的议案》，根据公司发展 及生产经营管理的需要，经董事会提名、薪酬与考核委员会审核，公司董事会聘 任王一民先生为副总经理，任期自本次董事会审议通过之日起至第九届董事会任 期届满时止。 高级管理人员简历如下： 王一民，男，1979 年 1 月出生，研究生学历，工商管理硕士学位。曾任深圳 市三九医药贸易有限公司 OTC 山东区域经理，漳州华润片仔癀医药贸易有限公司 副总经理，华润三九医药股份有限公司专业品牌事业部销售总监、大健康（圣海） 事 ...

格隆汇8月6日｜中银证券研报指出，天士力P134获批临床，看好公司研发管线进展。P134细胞注射液 是由天士力与北京神经外科研究所共同合作开发的创新生物药，是一款靶向CD44和（或）CD133的自 体CAR-T产品，其作用机制为特异性识别并结合在原发性和复发性胶质母细胞瘤（GBM）中呈现特异 性互斥高表达抗原靶标，高效激活并延长T细胞寿命，从而杀伤肿瘤细胞。截至2025年4月12日，全球 范围内尚无用于复发胶质母细胞瘤适应症的同类产品获批上市。公司研发进展顺利，伴随公司研发产品 逐步进入临床后期，可能会导致研发水平的波动，基于此略微调整公司的盈利预测，截止到8月4日收盘 价，对应PE为22.9/21.3/17.9倍。公司不断加大研发力度，未来伴随新产品的上市，公司有望保持快速发 展，维持"买入"评级。 ...

Group 1 - The core viewpoint of the report is that Zhongyin Securities has given a "buy" rating for Tianshili (600535.SH) based on its promising clinical progress and market potential [2] - The company’s P134 product is noted to be at the forefront of clinical development, indicating strong potential for future success [2] - The global market for GBM (glioblastoma) is substantial, and the company is expected to explore new treatment methods, enhancing its growth prospects [2] - The company is increasing its investment in research and development, which is viewed positively in terms of advancing its product pipeline [2]

Investment Rating - The report maintains a "Buy" rating for the company, with a market price of RMB 16.54 and a sector rating of "Outperform" [1][6]. Core Views - The company has received approval for clinical trials of its P134 product for recurrent glioblastoma, positioning it to potentially lead globally in this treatment area. The report expresses optimism regarding the company's R&D pipeline and maintains the "Buy" rating [4][6]. - The company is expected to see steady growth in net profit, with projections of RMB 1.078 billion, RMB 1.163 billion, and RMB 1.379 billion for 2025, 2026, and 2027 respectively. Corresponding EPS is projected at RMB 0.72, RMB 0.78, and RMB 0.92 [6][8]. Summary by Sections Financial Performance - The company’s revenue for 2023 is projected at RMB 8.674 billion, with a slight decline to RMB 8.498 billion in 2024, followed by a recovery to RMB 9.087 billion in 2025, reflecting a growth rate of 6.9% [8][10]. - The EBITDA is expected to be RMB 1.802 billion in 2025, with a gradual increase to RMB 2.093 billion by 2027 [8][10]. R&D Pipeline - The company has a robust R&D pipeline with 98 products under development, including 33 first-class innovative drugs. 27 of these are in clinical trials, with 22 in Phase II or III [9][10]. - The P134 product is a CAR-T therapy targeting CD44 and/or CD133, specifically designed for glioblastoma, which has a significant market potential, projected to grow from RMB 7.522 billion in 2023 to RMB 13.968 billion by 2029 [9][10]. Valuation Metrics - The report adjusts the profit forecast slightly, with PE ratios projected at 22.9, 21.3, and 17.9 for 2025, 2026, and 2027 respectively, indicating a favorable valuation as new products are expected to drive growth [6][8].

Summary of Tianjin Tasly Pharmaceutical Conference Call Company Overview - **Company**: Tianjin Tasly Pharmaceutical - **Industry**: Traditional Chinese Medicine, Biopharmaceuticals, Chemical Pharmaceuticals Key Points and Arguments Performance and Growth - Tianjin Tasly has effectively absorbed the impact of centralized procurement on its flagship product, Compound Danshen Dripping Pills, and expects steady growth moving forward [2][3] - The company is experiencing overall stable growth, with a strong focus on traditional Chinese medicine innovation and new indications for existing products [2][4] Product Focus and Revenue Contribution - The company is concentrating on cardiovascular, digestive metabolism, tumor immunity, and liver disease treatment areas, with cardiovascular products contributing significantly to revenue [2][8] - Compound Danshen Dripping Pills has surpassed sales of 2 billion, with the price drop effects being gradually absorbed [2][9] - The market potential for diabetic retinopathy (糖网) is substantial, with projected sales exceeding 2 billion [2][10] Strategic Partnerships - The acquisition by China Resources Sanjiu is expected to enhance Tianjin Tasly's performance in the outpatient market, leveraging Sanjiu's strengths in retail channels and brand development [2][5][6] Financial Outlook - The company is streamlining operations and focusing on core business areas, leading to improved profitability [2][7] - Projected net profit for 2025 is estimated at 1.15 billion, corresponding to a market valuation of 22 times [2][7][15] Product Pipeline and Innovation - The biopharmaceutical segment's core product, ProUK, has stabilized its decline, with expectations for steady growth in myocardial infarction indications and potential approval for cerebral infarction in 2025 [2][13][14] - The company is actively developing multiple innovative drug pipelines, including stem cell and CAR-T therapies, which are anticipated to contribute positively to future earnings [2][15] Risks and Challenges - The company faces industry policy risks, market competition risks, and research and development risks, which investors should monitor [2][16] Other Notable Products - Other products like Yangxue Qingnao and Qi Li Yi Qi are expected to grow steadily, with potential growth rates possibly exceeding that of Compound Danshen Dripping Pills due to their urgent demand and established market presence [2][12] Conclusion - Tianjin Tasly Pharmaceutical is positioned for stable growth with a strong product pipeline and strategic partnerships, despite facing certain industry risks. The focus on innovation and market expansion, particularly in the outpatient sector, presents significant opportunities for future profitability.

每经头条（nbdtoutiao）——"我们也深陷残酷价格战"！德资巨头中国区高管警告：智驾绝不能免费， 否则会给全行业带来灾难 （记者 王可然） 每经AI快讯，天士力（SH 600535，最新价：16.44元）8月1日晚间发布公告称，公司董事会于2025年8 月1日收到高级管理人员李江山先生提交的辞职报告。李江山先生由于工作变动原因，提请辞去公司副 总经理职务。根据《公司章程》及有关规定，李江山先生的辞职申请自辞职报告送达公司董事会时生 效。 2024年1至12月份，天士力的营业收入构成为：中药占比70.89%，化学制剂药占比15.38%，医药商业占 比10.53%，生物药占比2.25%，化学原料药占比0.61%。 ...

Core Points - The announcement reports the resignation of Mr. Li Jiangshan from his position as Vice General Manager of Tian Shi Li Pharmaceutical Group due to work changes [1] - The resignation is effective immediately upon the delivery of the resignation report to the company's board of directors [1] - The board expresses gratitude for Mr. Li's contributions during his tenure as Vice General Manager [1] Company Information - Tian Shi Li Pharmaceutical Group is committed to ensuring the accuracy and completeness of the announcement [1] - The announcement is officially dated August 2, 2025, following the receipt of the resignation on August 1, 2025 [1]

Core Viewpoint - The announcement details the resignation of senior management personnel, specifically Mr. Li Jiangshan, from his position as Vice General Manager of Tian Shi Li Pharmaceutical Group Co., Ltd due to work-related changes [1] Group 1: Management Changes - Mr. Li Jiangshan submitted his resignation report to the board of directors on August 1, 2025 [1] - The resignation is effective immediately upon the delivery of the resignation report to the board [1] - The board expresses gratitude for Mr. Li's contributions during his tenure as Vice General Manager [1]

证券日报网讯 8月1日晚间，天士力发布公告称，公司董事会于2025年8月1日收到高级管理人员李江山 先生提交的辞职报告。李江山先生由于工作变动原因，提请辞去公司副总经理职务。 （文章来源：证券日报） ...