证券代码：600535 证券简称：天士力 编号：临2025-066号 天士力医药集团股份有限公司2025年半年度权益分派实施公告 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： 每股分配比例 A 股每股现金红利0.21元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/10/16 | － | 2025/10/17 | 2025/10/17 | 差异化分红送转： 否 一、通过分配方案的股东大会届次和日期 本次利润分配方案经公司2025 年 9 月 2 日的2025年第四次临时股东大会审议通 过。 二、分配方案 1. 发放年度：2025年半年度 2. 分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公 司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 3. 分配方案： 本次利润分配以方案实施前的公司总股本1,493,950,0 ...

脑卒中，是指由于脑部血管突然破裂或血管阻塞而引起脑组织损伤的一组疾病。由于高死亡率和高致残 率的特点，脑卒中长期以来都被视作"人类健康的头号杀手"。据统计，我国每年约有440万脑卒中新发 病例，其中缺血性脑卒中约占80%，给家庭和社会带来了沉重负担。 在临床治疗上，静脉溶栓被确立为急性缺血性脑卒中（AIS）的标准治疗手段。然而，目前我国整体静 脉溶栓率仅约7.6%，与发达国家存在差距。这背后，一方面是患者就诊时间与治疗窗口错配，另一方 面也与溶栓药物治疗过程伴发的高出血风险，导致了临床用药的顾虑。 近日，天士力宣布，其自主研发的生物创新药注射用重组人尿激酶原（普佑克）获批新适应症，用于急 性缺血性脑卒中的溶栓治疗。国产创新药普佑克的出现，不仅有望缓解我国AIS患者治疗中的痛点问 题，也标志着天士力从传统中药企业向创新药领军企业转型迈出了关键一步。 卒中防治的时代命题：如何推动药物走下基层？ 在卒中防治中，救治率低始终是绕不开的临床痛点。 "发病后4.5小时内"是静脉溶栓的黄金时间窗。然而，CHINA QUEST研究显示，我国有67%-75%的急性 缺血性卒中患者因延迟就诊或发病时间不明而错过溶栓机会。公众对卒 ...

Core Points - The 2025 Hong Kong International Traditional Chinese Medicine Conference opened on September 25, focusing on the theme "Revitalizing Traditional Medicine for the Benefit of Human Health" [1] - The conference attracted over 130 well-known enterprises and institutions from countries involved in the Belt and Road Initiative, showcasing the global interest in traditional Chinese medicine [1] Company Highlights - Five listed Chinese medicine companies, including China Resources Sanjiu, Tianshi, and Kunming Pharmaceutical Group, collaborated with Zijing Culture to launch the "Traditional Chinese Medicine Culture Co-Link Initiative" [1] - The companies presented the "Traditional Chinese Medicine Culture" blue book and shared achievements in industry chain construction, highlighting their commitment to the development of traditional Chinese medicine [1] Industry Insights - The conference provided a platform for the Chinese medicine industry to gain domestic and international recognition for its achievements in industry chain construction [1] - The initiative aims to promote traditional Chinese medicine from being a "Chinese treasure" to a "global shared resource," contributing Chinese wisdom and solutions to global health [1]

Group 1 - The core viewpoint of the article highlights the target price increases for several listed companies, with notable gains for Dongcai Technology, Seres, and Gree Electric, showing target price increases of 51.97%, 37.62%, and 36.96% respectively [1][3] - On September 25, a total of 12 target price adjustments were made by brokerages, with the highest target price set at 32.43 yuan for Dongcai Technology [1][3] - A total of 35 listed companies received brokerage recommendations on September 25, including Sanyuan Shares, Anhui Weaving High-tech, and Yixin Pharmacy [1][3] Group 2 - On the same date, two companies had their ratings upgraded, with Renfu Pharmaceutical's rating raised from "Hold" to "Buy" by Shouchuang Securities, and Sanhuan Group's rating upgraded from "Hold" to "Buy" by Huazheng Securities [4][6] - A total of 10 companies received initial coverage from brokerages, with Frontier Biotech receiving a "Buy" rating from Kaiyuan Securities and Jiete Biotech also receiving a "Buy" rating from Xinda Securities [4][7] - Other companies receiving initial coverage include Bowei Alloy with a rating of "Hold" and Leisai Intelligent with a "Buy" rating, indicating a diverse range of sectors being covered [4][7]

2025 年第五次临时股东大会会议资料 天士力医药集团股份有限公司 2025 年第五次临时股东大会会议资料 2025 年 10 月 10 日 2025 年第五次临时股东大会会议资料 天士力医药集团股份有限公司 2025 年第五次临时股东大会议程 一、会议时间： 现场会议召开时间：2025 年 10 月 10 日 15 点 30 分 网络投票系统及投票时间： 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2025 年 10 月 10 日 至 2025 年 10 月 10 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股东大会 召开当日的交易时间段，即 9:15-9:25，9:30-11:30，13:00-15:00；通过互联网投票平台的 投票时间为股东大会召开当日的 9:15-15:00。 二、会议地点：天津市北辰科技园区天士力现代中药城天士力医药集团股份有限公司会 议室 三、会议议程： （五）股东对会议议案进行投票表决 （六）宣读表决结果与股东大会决议 （七）宣读法律意见书 （八）公司董事签署股东大会决议，董事和记录员签署会议记录 （一）宣布会议正式开始 （二） ...

Investment Rating - The report maintains a rating of "Accumulate" for the company [6][12]. Core Views - The recent approval of a new indication for the innovative drug Puyouke for acute ischemic stroke treatment validates the company's R&D capabilities and enhances its market competitiveness [2][12]. - The approval of the new indication is expected to expand the sales potential of Puyouke, which is a first-class biological innovative drug supported by national major drug creation projects [12]. - The report forecasts earnings per share (EPS) for 2025-2027 to be 0.77, 0.83, and 0.89 yuan respectively, with a target price set at 19.25 yuan based on a price-to-earnings (PE) ratio of 25X for 2025 [12][13]. Financial Summary - Total revenue is projected to be 8,674 million yuan in 2023, with a slight decrease to 8,498 million yuan in 2024, followed by a recovery to 8,649 million yuan in 2025, and further growth to 9,071 million yuan in 2026 and 9,548 million yuan in 2027 [4][13]. - Net profit attributable to the parent company is expected to rise significantly from 1,071 million yuan in 2023 to 1,325 million yuan in 2027, reflecting a growth rate of 505.3% in 2023 followed by a decline of 10.8% in 2024, and then a steady increase in subsequent years [4][13]. - The company’s return on equity (ROE) is projected to improve from 8.7% in 2023 to 9.6% in 2027, indicating enhanced profitability [4][13]. Market Data - The company's stock has a 52-week price range of 13.61 to 17.41 yuan, with a total market capitalization of 24,187 million yuan [7][12]. - The current stock price is 16.19 yuan, which is below the target price of 19.25 yuan, suggesting potential upside for investors [12][13].

Group 1 - Heng Rui Medicine signed a licensing agreement with Glenmark Specialty S.A. for the drug Rykon Trastuzumab, receiving an upfront payment of $18 million and potential milestone payments up to $1.093 billion based on sales performance [1] - The drug Rykon Trastuzumab targets HER2 and is approved for treating HER2-mutated non-small cell lung cancer, enhancing Heng Rui's overseas market presence and innovative brand image [1] Group 2 - Tian Shi Li's subsidiary received approval for clinical trials of TSL2109 capsules, a novel dual-target small molecule inhibitor for advanced solid tumors, marking a first in the global market [2] - The company is actively transforming into innovative pharmaceuticals, with TSL2109 representing a significant step in its product development strategy [2] Group 3 - Kang Tai Bio's application for a trivalent influenza virus split vaccine has been accepted by the National Medical Products Administration, aimed at preventing influenza in individuals aged three and above [3] - The competitive vaccine market necessitates ongoing research and innovation for companies to maintain long-term core competitiveness, and successful approval of this vaccine would enhance Kang Tai's product portfolio [3]

Group 1 - President Xi Jinping announced China's new round of Nationally Determined Contributions at the UN Climate Change Summit, aiming for a 7%-10% reduction in greenhouse gas emissions by 2035, with non-fossil energy consumption exceeding 30% of total energy consumption [3] - The total installed capacity of wind and solar power is targeted to reach over 360 million kilowatts, six times that of 2020, and forest stock is expected to exceed 24 billion cubic meters [3] - The national carbon emissions trading market will cover major high-emission industries, and a climate-adaptive society is to be fundamentally established [3] Group 2 - Premier Li Qiang emphasized China's commitment to maintaining an open trade and investment market during a meeting with the President of the European Commission, urging fair competition and adherence to WTO rules [5] - The Chinese government will not seek new special and differential treatment in current and future WTO negotiations, reinforcing its role as a responsible developing country [5] - The People's Bank of China announced a 600 billion yuan MLF operation on September 25, marking a net injection of 300 billion yuan for the month, continuing a trend of high liquidity [5][6] Group 3 - Alibaba announced a collaboration with NVIDIA on Physical AI, with plans to invest 380 billion yuan in AI infrastructure and the launch of seven large model products, including Qwen3-Max, the largest and most capable model to date [4] - The Chinese Ministry of Commerce introduced 14 measures to promote digital consumption, including trials for smart connected vehicles and drone delivery services [6] Group 4 - The A-share market saw significant gains, with the Shanghai Composite Index rising 0.83% to 3853.64 points, and the ChiNext Index increasing by 2.28% [8] - The Hong Kong Hang Seng Index rose 1.37%, with notable gains in tech stocks like Alibaba and SMIC, while medical stocks faced declines [8] - Chery Automobile announced its H-share final offering price at 30.75 HKD per share, set to officially list on September 25 [8] Group 5 - The State Administration for Market Regulation is seeking public opinion on new standards for food delivery platforms, addressing issues like competition and delivery personnel rights [11] - The National Press and Publication Administration approved 145 domestic games and 11 imported games in September, indicating a positive trend in the gaming industry [12] Group 6 - The global crude steel production in August was 145.3 million tons, a year-on-year increase of 0.3%, while the cumulative production from January to August saw a decline of 1.7% [23] - The UK government faced challenges in issuing new bonds, with the latest five-year bond auction seeing the lowest oversubscription rate in nearly two years [20]

Core Viewpoint - Tianjin Tasly Pharmaceutical Group Co., Ltd. announced that its wholly-owned subsidiary, Jiangsu Tasly Diyi Pharmaceutical Co., Ltd., has received approval from the National Medical Products Administration for the clinical trial of TSL2109 capsules for advanced solid tumors [1] Group 1 - The approval notification for TSL2109 capsules marks a significant step in the company's research and development efforts in oncology [1] - This development indicates the company's commitment to expanding its product pipeline in the cancer treatment sector [1]

Group 1 - Shanghai Zhiyuan Hengyue plans to acquire 37% of the shares of Shangwei New Materials at a price of 7.78 yuan per share, requiring a maximum total funding of 1.16 billion yuan [1] - The acquisition period is set for 30 calendar days, from September 29, 2025, to October 28, 2025 [1] - Zhiyuan Hengyue and Zhiyuan Xinchuan intend to acquire at least 63.62% and up to 66.99% of Shangwei New Materials' shares [2] Group 2 - Heng Rui Pharmaceutical has signed a licensing agreement for the innovative drug SHRA1811, receiving an upfront payment of 18 million dollars and is eligible for up to 1.093 billion dollars in milestone payments [3] - The agreement aims to expand the overseas market for SHRA1811 and enhance the company's innovative brand and overseas performance [3] Group 3 - Tian Shili's subsidiary has received approval for clinical trials of TSL2109 capsules, a dual-target small molecule inhibitor for advanced solid tumors, with no similar drugs currently in clinical trials [4] - The cumulative R&D investment in TSL2109 capsules by Jiangsu Diyi has reached 24.6251 million yuan [4] Group 4 - Wanhui High-tech expects a net profit of 340 million to 420 million yuan for the first three quarters, representing a year-on-year growth of 69.81% to 109.77% [5]