Core Viewpoint - The company, Tasly Pharmaceutical Group Co., Ltd., is set to hold a half-year performance briefing on August 28, 2025, to discuss its operational results and financial status for the first half of 2025, alongside its major shareholders and related parties [2][3]. Group 1: Meeting Details - The meeting will take place on August 28, 2025, from 15:00 to 16:00 [4]. - It will be conducted via an online interactive format on the Panoramic Roadshow platform [4][5]. - Investors can submit questions from August 21 to August 25, 2025, through the investor relations platform or via email [2][5]. Group 2: Participants - Key participants from the company include Mr. Cai Jinyong (Chairman and General Manager), Mr. Yu Jie (Board Secretary), Ms. Wei Jie (Chief Financial Officer), and Ms. Wang Aijian (Independent Director) [4]. Group 3: Post-Meeting Access - After the briefing, investors can access the meeting's details and main content on the Panoramic Roadshow platform [5].

证券日报网讯 8月20日晚间，华润三九发布公告称，公司计划于2025年8月28日（星期四）15：00-16： 00联合公司控股子公司昆药集团股份有限公司、天士力医药集团股份有限公司举办2025年半年度业绩说 明会。 （编辑 任世碧） ...

证券日报网讯8月20日晚间，昆药集团（600422）发布公告称，公司计划于2025年8月28日15：00-16： 00联合公司控股股东华润三九（000999）医药股份有限公司、公司关联方天士力（600535）医药集团股 份有限公司举行2025年半年度网上业绩说明会。 ...

证券日报网讯 8月20日晚间，天士力发布公告称，公司计划于2025年8月28日15：00-16：00联合公司控 股股东华润三九医药股份有限公司、公司关联方昆药集团股份有限公司举办2025年半年度业绩说明会。 （文章来源：证券日报） ...

证券代码：600535 证券简称：天士力 编号：临 2025-055 号 天士力医药集团股份有限公司 关于召开 2025 年半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 8 月 21 日（星期四）至 2025 年 8 月 25 日（星期一） 16:00 前访问全景投资者关系互动平台（http://ir.p5w.net/zj/）进入问题征集专题页 面，或通过公司邮箱 stock@tasly.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。 天士力医药集团股份有限公司（以下简称"公司"）已于 2025 年 8 月 16 日发 布公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 2025 年半年 度经营成果、财务状况，公司计划于 2025 年 8 月 28 日下午 15:00-16:00，联合公 司控股股东华润三九医药股份有限公司、公司关联方昆药集团股份有限公司举办 2025 年半年度业绩说明会，就投资者关心的问题进行交流 ...

天眼查商业履历信息显示，天士力医药集团股份有限公司，成立于1998年，位于天津市，是一家以从事 医药制造业为主的企业。企业注册资本149395.0005万人民币，实缴资本149395.0005万人民币。公司法 定代表人为蔡金勇。 通过天眼查大数据分析，天士力医药集团股份有限公司共对外投资了39家企业，参与招投标项目5000 次，知识产权方面有商标信息94条，专利信息959条，此外企业还拥有行政许可348个。 金融界消息 截至2025年8月19日收盘，天士力（600535）报收于17.38元，上涨1.94%，换手率3.63%， 成交量54.21万手，成交金额9.47亿元。 资金流向方面，今日主力资金净流出2179.14万元，占比成交额2.3%。其中，超大单净流入871.29万 元、占成交额0.92%，大单净流出3050.42万元、占成交额3.22%，中单净流出流出3699.20万元、占成交 额3.91%，小单净流入5878.33万元、占成交额6.21%。 天士力最新一期业绩显示，截至2025中报，公司营业总收入42.88亿元、同比减少1.91%，归属净利润 7.75亿元，同比增长16.97%，扣非净利润6.40 ...

医药工业保持平稳，重新调整产品分类。 T事ab件le：_S2u0m2m5ar年y]8 月 15 日，公司发布《2025 年半年度报告》。2025 年 H1公司实现营业 收入42.88 亿元，同比下降1.91%；实现归母净利润7.75 亿元，同比增长16.97%；实现扣非归母净利润 6.40 亿元，同比下降12.87%。 单季度来看，2025 年Q2 公司实现营业收入22.33 亿元，同比下降3.86%；实现归母净利润4.60 亿元，同 比增长25.41%；实现扣非归母净利润4.04亿元，同比下降8.43%。 点评： 2025 年3 月27 日，随着华润三九收购过户完成，公司实际控制人变更为中国华润有限公司，公司正式 成为华润三九旗下一员。公司迅速推动与华润三九的"百日融合"工作：1）在运营管理方面，公司积极 落实华润管理理念，加强财务、人力资源、EHSQ 及大监督体系的融合，开展"焕新增效"等系列组织优 化活动，优化运营管控模式，提升管理效率；2）在战略规划方面，公司高效组织管理层与华润三九管 理层进行多次战略融合研讨，通过洞察行业变化趋势，并结合公司实际情况，启动了"十五五"战略规划 的制订工作；3）在渠道 ...

Group 1 - The pharmaceutical industry remains stable, with a reclassification of product categories [2] - The integration with China Resources is progressing smoothly, which is expected to bring positive changes [2] - The research and development pipeline is rich, indicating a potential for value reassessment [2]

Investment Rating - The report assigns a "Buy" rating for the company, indicating that the stock price is expected to outperform the benchmark index by more than 15% [12]. Core Views - The integration with China Resources is progressing smoothly, which is expected to bring positive changes to the company [3]. - The company has a rich pipeline of research and development projects, which may lead to a revaluation of its value [4]. Financial Performance Summary - In H1 2025, the company achieved operating revenue of 4.288 billion, a year-on-year decrease of 1.91%, while the net profit attributable to the parent company was 775 million, a year-on-year increase of 16.97% [1]. - The company’s pharmaceutical industry revenue was 3.879 billion, remaining stable year-on-year, while the pharmaceutical commercial revenue decreased by 14.88% [2]. - The company’s net profit and non-recurring net profit showed significant differences due to fair value changes, which were 77 million in H1 2025 compared to -88 million in H1 2024 [2]. Strategic Developments - The company has restructured its product classification to align with its future development strategy, categorizing products by therapeutic areas rather than by type of medicine [2]. - The company is actively implementing the management philosophy of China Resources, enhancing operational efficiency and management systems [3]. - The company is collaborating with China Resources' health consumer goods business to deepen strategic partnerships with leading retail pharmacies [3]. R&D Pipeline - The company has increased its R&D efforts, focusing on three core areas: cardiovascular and metabolism, neurology/psychiatry, and digestion, with 83 projects in the pipeline, including 31 innovative drugs [4]. - The company has received clinical approval for three products, including the world's first mesenchymal stem cell injection approved for IND in the U.S. [4]. - The report highlights that the market has not fully priced the company's innovative biopharmaceutical developments, indicating potential for value revaluation [4]. Earnings Forecast - The company is expected to achieve operating revenues of 8.66 billion, 9.32 billion, and 10.08 billion for the years 2025, 2026, and 2027, respectively [6]. - The net profit attributable to the parent company is projected to be 1.196 billion, 1.331 billion, and 1.484 billion for the same years [6]. - The report anticipates an increase in EPS (diluted) to 0.80, 0.89, and 0.99 for 2025, 2026, and 2027, respectively [6].

Overall Research - The domestic equity market continues to rise, with the ChiNext Index increasing by 8.58%. The performance of equity and bond funds is diverging, with equity mixed funds leading the gains. TMT theme funds are significantly outperforming, while consumer themes show relatively weaker growth. Passive index funds in financial and AI themes are performing well, while there is a net outflow from domestic stock ETFs, particularly in the double innovation sector and TMT themes, with noticeable inflows into large-cap and broad-based funds [1]. Real Estate Industry - As of August 17, 2025, new home transactions in 20 cities totaled 491,000 units, down 5.5%. In major cities, Beijing saw 26,000 units sold (-13%), Shanghai 63,000 units (-1%), and Shenzhen 19,000 units (-3%). In the second-hand housing market, transactions in 10 cities reached 490,000 units, up 10.7%, with Beijing at 108,000 units (+11%), Shanghai 160,000 units (+18%), and Shenzhen 44,000 units (+28%) [2]. Metal Industry - The growth rate difference between M1 and M2 narrowed to -3.2 percentage points in July, marking a near 49-month high. The steel sector's profitability is expected to recover to historical average levels following the Ministry of Industry and Information Technology's guidelines for the steel industry. However, there are risks associated with significant fluctuations in futures prices due to trading restrictions on coking coal futures [3]. Chemical Industry - The report suggests focusing on companies involved in electronic specialty gases, such as nitrogen trifluoride and other products. Key companies include China Shipbuilding Industry Corporation, Nanda Optoelectronics, and Huate Gas. Additionally, companies producing semiconductor materials, such as photolithography resins and PCB inks, are also recommended for attention [4]. Company Research - Sinopec Engineering achieved a revenue of 31.6 billion yuan in H1 2025, a 10.1% year-on-year increase, with a net profit of 1.384 billion yuan, up 4.8%. The company maintains a "buy" rating with profit forecasts for 2025-2027 at 2.595 billion, 2.760 billion, and 2.902 billion yuan, respectively [7]. - Blue Sky Technology won a new lithium extraction project, with expectations for high growth in its lithium resource business. The company forecasts net profits of 1.055 billion, 1.253 billion, and 1.495 billion yuan for 2025-2027, maintaining an "increase" rating [8]. - Changqing Co. reported a recovery in pesticide market demand, with a net profit forecast of 74 million, 128 million, and 181 million yuan for 2025-2027, maintaining an "increase" rating despite a downward adjustment in profit expectations [9]. - Huayou Cobalt's net profit for H1 2025 reached 2.71 billion yuan, a 62.3% increase year-on-year, with future profit forecasts of 5.9 billion, 7.1 billion, and 8.6 billion yuan for 2025-2027, maintaining a "buy" rating [10]. - Keda Li's main business remains stable, with profit forecasts of 1.802 billion, 2.178 billion, and 2.499 billion yuan for 2025-2027, maintaining a "buy" rating [11]. - Oriental Cable's revenue for H1 2025 was 4.432 billion yuan, an 8.95% increase, but net profit fell by 26.57% to 473 million yuan. The company expects growth in the second half of 2025 due to increased cable deliveries [12]. - Jinlang Technology reported a revenue of 3.794 billion yuan in H1 2025, a 13.09% increase, with a net profit of 602 million yuan, up 70.96%. Future profit forecasts are 1.169 billion, 1.399 billion, and 1.657 billion yuan for 2025-2027, maintaining an "increase" rating [12]. - Lian Microelectronics has seen a recovery in its epitaxial wafer business, with future profit forecasts of 69 million, 165 million, and 242 million yuan for 2025-2027, maintaining a "buy" rating [13]. - Tian Shili achieved a revenue of 4.288 billion yuan in H1 2025, with a net profit of 775 million yuan, up 16.97%. The company maintains profit forecasts of 1.150 billion, 1.245 billion, and 1.399 billion yuan for 2025-2027, maintaining a "buy" rating [14]. - Ecovacs Robotics reported strong performance in both domestic and international sales, with profit forecasts of 1.6 billion, 1.9 billion, and 2.3 billion yuan for 2025-2027, maintaining a "buy" rating [15]. - Stone Technology, a leader in smart vacuum robots, has adjusted its profit forecasts to 1.7 billion, 2.1 billion, and 2.5 billion yuan for 2025-2027, maintaining an "increase" rating [16].