证券之星消息，8月27日医药商业板块较上一交易日下跌2.71%，塞力医疗领跌。当日上证指数报收于 3800.35，下跌1.76%。深证成指报收于12295.07，下跌1.43%。医药商业板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 603716 | 塞力医疗 | 33.15 | -8.93% | 48.47万 | 16.71亿 | | 603122 | 合量中国 | 6.81 | -5.15% | 15.81万 | 1.10亿 | | 300937 | 药易购 | 28.63 | -5.10% | 3.49万 | 1.03亿 | | 600538 | 国发股份 | 6.29 | -4.98% | 24.72万 ﺎ | 1.60亿 | | 301017 | 漱玉平民 | 12.27 | -4.88% | 6.39万 | 8026.19万 | | 000078 | 海于生物 | 2.64 | -4.35% | 62.28万 | 1.68亿 | | 605266 | 健之佳 | ...

从营收结构来看，国发股份医药制造板块包括"海宝"牌珍珠明目滴眼液、珍珠末、珍珠层粉、"国发"牌 胃肠宁颗粒、金银花合剂，"海马"牌跌打药酒、海蛇药酒等产品，上半年收入为1274万元。 此外，国发股份旗下的北海医药和钦州医药两大公司深耕广西北海市、钦州市、防城港市等北部湾地 区，从事医药流通业务，上半年贡献收入9537万元。截至2025年6月，国发股份合计拥有直营店5家，特 许加盟店8家，加盟店53家。 在司法IVD(体外诊断)、分子医学影像中心业务布局上，国发股份主要通过全资子公司高盛生物、北京 香雅医疗技术有限公司，提供法医DNA检测整体解决方案，以及医学影像中心、医疗器械销售等。 2025年前六个月，该部分业务实现营收4362万元。 不久前，国发股份已经完成多项重要人事调整，完善治理结构。2025年公司任命张小玮担任总裁；聘任 李峰为总裁助理、国发制药厂负责人；选举董秋红担任独立董事。 8月25日晚间，国发股份（600538）发布公告称，公司董事长姜烨已完成增持计划，其通过上海证券交 易所集中竞价交易方式累计增持公司股份480.49万股，累计增持金额为3001.66万元。此前公司宣布董事 吴培诚已完成增持 ...

本公司董事会、全体董事及相关股东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： 证券代码：600538 证券简称：国发股份 公告编号：临 2025-039 北海国发川山生物股份有限公司 关于公司董事长股份增持计划实施完毕暨增持结果公告 ●已披露增持计划情况 北海国发川山生物股份有限公司（以下简称"公司"）董事长姜烨先生计划 自 2024 年 12 月 25 日起的 6 个月内，以其自有资金或自筹资金，通过上海证券 交易所系统允许的方式，包括但不限于集中竞价交易和大宗交易或法律法规允许 的其他交易方式增持公司股份，增持金额不低于人民币 3,000 万元，不超过人民 币 6,000 万元。 因定期报告及业绩预告窗口期、法定假期、市场环境变化等因素影响，能够 实施增持的有效时间大幅缩短，本次增持计划未能在原定期限内全部完成。2025 年 6 月 26 日，公司披露了《关于公司董事长姜烨先生增持公司股份进展暨增持 计划延期的公告》，姜烨先生将原增持计划实施期限延长 2 个月至 2025 年 8 月 24 日。 ●增持计划的实施结果 自 20 ...

Core Viewpoint - Guofa Co., Ltd. (600538) reported a narrowing loss in its 2025 interim financial results, with total revenue declining and net profit showing improvement compared to the previous year [1][3]. Financial Performance Summary - Total revenue for the first half of 2025 was 154 million yuan, a decrease of 13.02% year-on-year [1]. - The net profit attributable to shareholders was -5.84 million yuan, an improvement of 63.74% compared to the previous year [1]. - The second quarter revenue was 75.12 million yuan, down 15.75% year-on-year, with a net loss of -8.99 million yuan, a decline of 139.53% [1]. - Gross margin stood at 22.04%, down 10.57% year-on-year, while net margin was -3.23%, an increase of 61.51% [1]. - Total expenses (selling, administrative, and financial) amounted to 36.70 million yuan, accounting for 23.88% of revenue, an increase of 5.45% year-on-year [1]. - Earnings per share were -0.01 yuan, an increase of 66.67% year-on-year [1]. Key Financial Changes - Accounts receivable decreased by 21.94% to 163 million yuan, while cash and cash equivalents fell by 5.77% to 134 million yuan [1][3]. - The company experienced a significant decrease in accounts payable by 89.11% due to the maturity of notes payable [3]. - Operating cash flow per share was -0.04 yuan, a decrease of 63.14% year-on-year, indicating reduced cash inflows from sales [1][3]. Business Evaluation - The company's historical financial performance has been subpar, with a median Return on Invested Capital (ROIC) of -0.41% over the past decade, and a particularly poor ROIC of -10.7% in 2024 [4]. - The company has reported losses in 10 out of its 22 annual reports since its listing, suggesting a lack of investor interest under typical value investing criteria [4]. - The average operating cash flow over the past three years has been negative, raising concerns about the company's liquidity and financial health [4].

Group 1 - The core viewpoint of the report emphasizes the importance of reviewing the full semi-annual report for a comprehensive understanding of the company's operational results, financial status, and future development plans [1] - The board of directors, supervisory board, and senior management guarantee the authenticity, accuracy, and completeness of the semi-annual report, taking legal responsibility for any false statements or omissions [1] - The report indicates that there are no profit distribution plans or capital reserve conversion plans approved by the board during the reporting period [2] Group 2 - The company has reported significant changes in the operating conditions during the reporting period, with a focus on matters that have had or are expected to have a major impact on the company's operations [2] - The controlling shareholder and its concerted actors have a high proportion of pledged and judicially frozen shares, with 77.15% of their shares being judicially frozen and 60.22% pledged as of June 30, 2025 [3] - The risk of judicial disposal of shares held by the controlling shareholder and its concerted actors is high due to multiple lawsuits and significant amounts involved, which could potentially lead to a change in actual control of the company [3]

Group 1 - The core point of the news highlights significant changes in the shareholding structure of the company's controlling shareholder and associated parties, indicating a high risk of judicial disposal of shares [1][2] - As of June 30, 2025, the controlling shareholder and its concerted parties held 10.72% of the company's shares, with 77.15% of these shares being judicially frozen and 60.22% pledged [2] - The judicial auction of 1.637995 million shares by the controlling shareholder's concerted party resulted in a 0.31% decrease in their shareholding [2] Group 2 - The company emphasizes the importance of understanding the significant changes in its operational situation and the potential future impacts due to the high proportion of shares being pledged and frozen [1][2] - The ongoing litigation and execution cases involving the controlling shareholder and its concerted parties pose a substantial risk, potentially leading to changes in the actual control of the company [2]

Company Overview - Beihai Guofa Chuanshan Biological Co., Ltd. is primarily engaged in pharmaceutical manufacturing and distribution, judicial IVD (in vitro diagnostics), and molecular medical imaging centers [3][11] - The company operates under various business models including direct sales, agency sales, and self-owned sales teams [5][6] Financial Performance - For the first half of 2025, the company reported a revenue of approximately 153.73 million yuan, a decrease of 13.02% compared to the same period last year [2] - The total profit for the period was a loss of approximately 4.58 million yuan, improving from a loss of 13.69 million yuan in the previous year [2] - The net profit attributable to shareholders was approximately -5.84 million yuan, compared to -16.11 million yuan in the same period last year [2] Industry Context - The pharmaceutical manufacturing industry in China saw a revenue of 1,227.52 billion yuan in the first half of 2025, a decline of 1.2% year-on-year [12] - The drug distribution industry experienced a significant slowdown, with a growth rate of only 0.6% in 2024, the lowest in 15 years [12] - The IVD market is expected to remain stable, with a projected market size of less than 120 billion yuan in 2024, indicating limited growth potential [13] Business Segments - The pharmaceutical manufacturing segment includes products such as eye drops, granules, and traditional Chinese medicine, with a focus on quality control and compliance with GMP standards [3][11] - The judicial IVD segment, operated by the subsidiary Gaoshen Biological, focuses on DNA testing equipment and services, utilizing a direct sales model primarily targeting public security units [5][6] - The molecular medical imaging center, managed by Beijing Xiangya, collaborates with medical institutions to provide imaging services and sells medical devices [11] Market Trends - The pharmaceutical industry is characterized by cyclical, regional, and seasonal demand patterns, with a relatively stable long-term outlook despite short-term fluctuations [11] - The IVD industry is witnessing a shift towards automation and intelligent detection technologies, driven by advancements in AI and big data [13][14]

目前，控股股东及一致行动人涉及的诉讼或执行案件较多、涉案金额较大，其持有的公司股 份被司法处置的风险较高。如果被司法处置的股份占比较大，可能会导致公司实际控制权发生变 更。 | 姚芳媛 | | 境内自然人 | 2.35 | 12,323,000 | | | 0 | 质押 | | 12,323,000 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 郭焕珍 | | 境内自然人 2.29 | | 12,026,617 | | | 0 | 无 | | | | 北海市路港建设投资开 | | | | | | | | | | | | 国有法人 | | 2.29 12,017,364 | | | | 0 | 无 | | | | | 发有限公司 | | | | | | | | | | | | 温州启元资产管理有限 | | | | | | | | | | | | 公司－启元尊享 1 | | 号私募 其他 1.91 | | 10,000,000 | | | | 0 | 无 | | | 证券投资基金 | | | | | | | | | ...

Group 1 - The core point of the article is that Guofang Co., Ltd. reported a decline in revenue and a net loss for the first half of 2025, indicating financial challenges [1] - The company achieved operating revenue of 153,729,775.86 yuan for the first half of 2025, which represents a year-on-year decrease of 13.02% [1] - The net profit attributable to shareholders of the listed company was -5,841,730.40 yuan, indicating a loss during this period [1]

公司代码：600538 公司简称：国发股份 北海国发川山生物股份有限公司 2025 年半年度报告 1 / 147 北海国发川山生物股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确 性、完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 北海国发川山生物股份有限公司2025 年半年度报告 二、 公司全体董事出席董事会会议。 四、 公司负责人姜烨、主管会计工作负责人尹志波及会计机构负责人（会计主管人员）李斌斌 声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 □适用 √不适用 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 三、 本半年度报告未经审计。 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 公司已在本报告中详细描述可能存在的风险，敬请查阅第三节管理层讨论与分析中可能面临 的风险的相 ...