Core Viewpoint - Hubei Jichuan Pharmaceutical Co., Ltd. plans to repurchase and cancel 171,800 restricted stocks from its 2022 incentive plan due to the departure of some incentive targets and unsatisfactory performance evaluations [1][2][6] Repurchase Background and Basis - The repurchase is based on the 2022 incentive plan approved on August 22, 2022, aimed at binding the interests of the core team to promote long-term development [2] - According to the plan, if an incentive target leaves or fails to meet performance standards, their unvested restricted stocks will not be released and will be repurchased at the grant price plus interest [2] Specifics of the Repurchase - The total number of restricted stocks to be repurchased is 171,800, all from the initial grant of the 2022 incentive plan [3] Repurchase Price and Funding Source - The repurchase price is set at 16.00 yuan per share, the same as the grant price, with no adjustments due to unvested status [4] - The funding for the repurchase will come entirely from the company's own funds, ensuring no significant impact on daily cash flow [4] Subsequent Arrangements - The company has opened a dedicated securities account for the repurchase and submitted the necessary applications for stock cancellation and registration [5] Compliance with Procedures - Legal opinions confirm that the repurchase has followed all necessary approval and authorization procedures, complying with relevant laws and the incentive plan [6] Market Impact - The repurchase of non-compliant shares is a common practice to maintain the integrity of the incentive plan and protect the interests of the company and its shareholders [7] - The number of shares involved is small relative to the total share capital, and the action is expected to optimize the incentive mechanism and focus on stabilizing the core team [8]

证券代码：600566 证券简称：济川药业 公告编号： 2025-093 湖北济川药业股份有限公司 关于 2022 年限制性股票与股票期权激励计划 部分限制性股票回购注销实施的公告 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： 回购注销原因：湖北济川药业股份有限公司（以下简称"公司"）2025 年 9 月 9 日召开第十届董事会第十七次会议，审议通过了《关于注销部分股票期权并 回购注销部分限制性股票的议案》：（1）由于 3 名激励对象离职，根据《湖北 济川药业股份有限公司 2022 年限制性股票与股票期权激励计划》(以下简称"本 激励计划")的相关规定，拟回购注销上述激励对象已获授但尚未解除限售的首 次授予的限制性股票 6.7 万股。（2）鉴于 5 名激励对象 2022 年度个人绩效考核 不达标，按照本激励计划的规定，公司拟回购注销其已获授但尚未解除限售的首 次授予的限制性股票 10.48 万股。 本次注销股份的有关情况： | 回购股份数量（股） | 注销股份数量（股） | | 注销日期 | | | | | ...

2022 年限制性股票与股票期权激励计划 回购注销部分限制性股票事项 国浩律师（上海）事务所 之 法律意见书 上海市静安区山西北路 99 号苏河湾中心 MT25-28 楼 邮编：200085 25-28/F, Suhe Centre, 99 North Shanxi Road, Jing'an District, Shanghai, China 电话/Tel: (+86)(21) 5234 1668 传真/Fax: (+86)(21) 5234 1670 网址/Website: http://www.grandall.com.cn 二〇二五年十一月 关于湖北济川药业股份有限公司 | 释 义 2 | | --- | | 律师应当声明的事项 5 | | 正 文 7 | | 一、本次激励计划回购注销事项的批准和授权 7 | | 二、本次回购注销的具体情况 9 | | 三、结论意见 10 | 国浩律师（上海）事务所 法律意见书 释 义 在本法律意见书中，除非上下文另作解释，否则下列简称和术语具有以下 含义： | 公司 | 指 | 湖北济川药业股份有限公司 | | --- | --- | --- | | 本次激励计划 ...

湖北济川药业股份有限公司 关于召开 2025 年第三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： https://roadshow.sseinfo.com/） 证券代码：600566 证券简称：济川药业 公告编号：2025-094 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 11 月 28 日 （星期五） 至 12 月 04 日 （星期四）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 jcyy@jumpcan.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。 湖北济川药业股份有限公司（以下简称"公司"）已于 2025 年 10 月 28 日发 布公司 2025 年第三季度报告，为便于广大投资者更全面深入地了解公司 2025 年第三季度经营成果、财务状况，公司计划于 2025 年 12 月 05 日 （星期五） 15:00-16:00 举行 2025 年第三季度业绩说明会，就投资者关心的问题进行交流。 一、 说明会类型 本 ...

证券代码： 600566 证券简称： 济川药业 公告编号： 2025-092 湖北济川药业股份有限公司 关于全资子公司开立募集资金现金管理专用结算账户 并利用闲置募集资金进行现金管理的进展公告 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： 履行的审议程序：湖北济川药业股份有限公司（以下简称"公司"）于 2025 年 4 月 25 日召开第十届董事会第十四次会议，于 2025 年 5 月 16 日召开 2024 年年度股东大会，审议通过了《关于全资子公司利用闲置募集资金和自有资金进 行现金管理的议案》，同意公司在不影响募投项目正常实施并保证募集资金安全 的前提下，使用额度不超过 5.8 亿元（含本数）的闲置募集资金进行现金管理， 投资对象为安全性高、流动性好、有保本约定、投资期限不超过 12 个月的投资 产品，包括但不限于理财产品、结构性存款、定期存款、大额存单等。具体内容 详见公司分别于 2025 年 4 月 26 日、2025 年 5 月 17 日披露于上海证券交易所网 站（http://www.sse.c ...

Core Insights - The flu season in China is expected to peak in late December and early January, leading to increased competition among flu medications [1][3] - Prices for flu medications, particularly for the popular drug Sufo, have started to drop as companies aim to capture market share [1][2] - The market for flu medications in China has surpassed 10 billion yuan, with Oseltamivir holding over 80% market share [4][5] Group 1: Market Dynamics - Sufo, a drug from Roche, was initially priced at 498 yuan per box but has seen a significant reduction to 222.36 yuan after being included in the national medical insurance directory [3] - The supply of Sufo is currently stable, with prices ranging from 239 to 258 yuan in retail pharmacies [2] - The entry of multiple domestic flu medications is intensifying competition, with several new products expected to launch in 2025 [6][7] Group 2: Competitive Landscape - Traditional flu medications like Oseltamivir are facing price pressures due to increased competition and collective procurement policies, with prices dropping significantly [4][5] - The market is seeing a surge in domestic flu drugs, with several companies like Qingfeng Pharmaceutical and Zhongsheng Pharmaceutical launching new products [6][8] - Oseltamivir's market share is projected to decline to 54.8% as more competitors enter the market, with over 70 companies producing the drug [5] Group 3: Regulatory and Development Updates - New flu medications are actively seeking inclusion in the medical insurance directory to enhance accessibility for patients [8] - Recent approvals for new flu drugs indicate a growing focus on pediatric formulations, with companies like Zhongsheng actively pursuing clinical trials for younger populations [7][8]

Group 1 - The article highlights the top 20 stocks in the S&P China A-Share Dividend Opportunity Index, showcasing significant daily and year-to-date gains along with their dividend yields [1] - The stock with the highest daily increase is Xue Ri Co., Ltd. (002083.SZ) with a daily gain of 10.03% and a year-to-date increase of 167.92% [1] - Weichai Power (000338.SZ) and Jiufeng Energy (605090.SH) also show strong performance with year-to-date gains of 35.42% and 29.39% respectively [1] Group 2 - The dividend yields of the top stocks range from 1.24% to 8.52%, indicating a mix of growth and income potential for investors [1] - Companies like Senma Clothing (002563.SZ) and China Shenhua (601088.SH) have notable dividend yields of 8.52% and 7.70% respectively, despite varying year-to-date performance [1] - The overall performance of these stocks suggests a positive trend in the market, with MACD golden cross signals indicating potential upward momentum [3]

Core Points - A total of 20 stocks received ratings from brokerages, with 6 stocks rated as "Buy" [1] - Among the stocks with target prices, Zhongyou Capital (000617.SZ) has the highest expected price increase of 16.19% based on the latest closing price [1][2] Company Summary - Zhongyou Capital (000617.SZ) received a "Buy" rating from Guotai Junan Securities, with a target price of 10.98 yuan and a closing price of 9.45 yuan, indicating a potential increase of 16.19% [2] - Other stocks rated as "Buy" include Rongsheng Petrochemical (002493.SZ), Jichuan Pharmaceutical (600566.SH), Haibo Innovation (688411.SH), Shiji Performance (002602.SZ), and Zhaoyi Innovation (603986.SH) [2] Industry Summary - The industries with the highest number of stocks receiving attention from brokerages are construction decoration, automotive, and non-ferrous metals [4]

Investment Rating - The investment rating for the company is "Buy" and is maintained [5]. Core Views - The company reported a significant decline in revenue and net profit for the first three quarters of 2025, with revenue of 3.932 billion yuan, down 32.27% year-on-year, and a net profit of 1.022 billion yuan, down 46.27% year-on-year [3][9]. - The third quarter of 2025 saw a revenue of 1.183 billion yuan, a decrease of 33.17% year-on-year, and a net profit of 298 million yuan, down 47.19% year-on-year [3][9]. - Despite the decline, the company is expected to see a recovery in Q4 2025 [3]. Financial Performance Summary - For the first nine months of 2025, the company achieved a gross margin of 77.68%, a decrease of 0.86 percentage points year-on-year, and a net profit margin of 25.19%, down 6.69 percentage points year-on-year [9]. - Sales expenses were effectively controlled, amounting to 362 million yuan in Q3 2025, a decrease of 37.65% year-on-year, with a sales expense ratio of 30.57% [9]. - The company has a diversified product portfolio with several products recognized in authoritative medication guidelines and clinical textbooks [9]. Earnings Forecast - The forecast for the company's net profit for 2025-2027 is 1.443 billion yuan, 1.567 billion yuan, and 1.641 billion yuan, respectively, with corresponding EPS of 1.57 yuan, 1.70 yuan, and 1.78 yuan [9].

Core Insights - The stock price of Jichuan Pharmaceutical has decreased by 2.00% as of November 13, trading at 27.43 CNY per share with a total market capitalization of 25.254 billion CNY [1] - The company has experienced a significant decline in revenue and net profit for the first nine months of 2025, with revenue down 32.27% year-on-year and net profit down 46.27% [2] Financial Performance - For the period from January to September 2025, Jichuan Pharmaceutical reported a revenue of 3.932 billion CNY and a net profit attributable to shareholders of 1.022 billion CNY [2] - The company has distributed a total of 9.227 billion CNY in dividends since its A-share listing, with 3.931 billion CNY distributed over the last three years [3] Shareholder Information - As of September 30, 2025, the number of shareholders increased to 47,400, while the average number of circulating shares per person decreased by 7.02% to 19,370 shares [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited and Southern CSI 500 ETF, with notable reductions in their holdings [3]