贵州益佰制药股份有限公司2025 年半年度报告 公司代码：600594 公司简称：益佰制药 贵州益佰制药股份有限公司 2025 年半年度报告 1 / 219 贵州益佰制药股份有限公司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。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人窦啟玲、主管会计工作负责人窦雅琪及会计机构负责人（会计主管人员）曾宪 体声明：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 本半年度报告内容涉及的未来计划、发展战略等前瞻性描述因存在不确定性，不构成公司对 投资者的实质承诺，敬请投资者注意投资风险。 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 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 ...

资金流向方面，今日该股主力资金净流入5039.84万元，其中，特大单净流入3753.97万元，大单资金净 流入1285.87万元。近5日主力资金净流入4730.01万元。 4月26日公司发布的一季报数据显示，一季度公司共实现营业收入5.01亿元，同比下降12.43%，实现净 利润-938.57万元。 7月15日公司发布上半年业绩预告，预计实现净利润-2124.00万元至-1770.00万元，同比变动区间为 80.05%~83.38%。（数据宝） （原标题：益佰制药8月19日龙虎榜数据） 益佰制药(600594)今日涨停，全天换手率5.37%，成交额1.89亿元，振幅9.81%。龙虎榜数据显示，营业 部席位合计净买入1689.46万元。 上交所公开信息显示，当日该股因日涨幅偏离值达10.09%上榜，营业部席位合计净买入1689.46万元。 证券时报•数据宝统计显示，上榜的前五大买卖营业部合计成交8031.94万元，其中，买入成交额为 4860.70万元，卖出成交额为3171.24万元，合计净买入1689.46万元。 具体来看，今日上榜营业部中，第一大买入营业部为开源证券股份有限公司西安西大街证券营业部，买 入金 ...

证券之星消息，8月19日中药板块较上一交易日上涨0.57%，ST香雪领涨。当日上证指数报收于3727.29， 下跌0.02%。深证成指报收于11821.63，下跌0.12%。中药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) | | | --- | --- | --- | --- | --- | --- | --- | | 300147 | ST香雪 | 10.54 | 20.05% | 66.89万 | | 6.52亿 | | 600594 | 益僧制药 | 4.59 | 10.07% | 42.52万 | | 1.89亿 | | 603139 | 康惠制药 | 25.18 | 10.00% | 3.83万 | | 9369.95万 | | 002873 | 新天药业 | 15.19 | 9.99% | 1 29.29万 | | 4.38亿 | | 600557 | 康家药业 | 19.83 | 9.98% | 39.16万 | | 7.74亿 | | 600671 | 天目药业 | 16.89 | 6.03% | 9.59万 | | 1.58亿 | | ...

基因测序板块领涨，上涨2.14%，其中透景生命上涨17.78%，益佰制药上涨10.07%，北陆药业上涨 10.02%，南京新百、利欧股份、广生堂涨超9%。（第一财经AI快讯） ...

Core Viewpoint - Yibai Pharmaceutical has faced significant operational challenges due to two consecutive production halts of its key products, leading to substantial financial losses and a crisis of trust in its brand and product quality [2][3][4]. Group 1: Production Halts - Yibai Pharmaceutical received a notice from the Guizhou Provincial Drug Administration to suspend the production and sale of its children's cough syrup due to inaccuracies in record-keeping and other compliance issues [2][3]. - This is the second production halt in a short period; the first was in April 2024 when the company's major product, the anti-cancer drug Aidi injection, was also halted for similar reasons [3][4]. - The repeated nature of these compliance issues indicates systemic flaws in the company's quality management system, raising concerns about the safety and quality of its products [4]. Group 2: Financial Impact - The suspension of Aidi injection, which accounted for over 20% of the company's annual sales, led to a dramatic decline in revenue, with a reported total revenue of 2.174 billion yuan in 2024, down 22.92% year-on-year [6][7]. - The net profit for 2024 was reported at -317 million yuan, a staggering drop of 406.79% compared to the previous year, marking a severe financial downturn for the company [6][7]. - Cumulatively, the company has incurred losses exceeding 330 million yuan over the past year and a half due to these production halts [8]. Group 3: Market and Brand Trust - The repeated production issues have not only affected financial performance but have also led to a significant loss of market trust, particularly concerning the safety of children's medications [2][4]. - Analysts have noted that the company's marketing strategy, which heavily emphasizes sales expenses over research and development, may not be sustainable in the face of increasing regulatory scrutiny [9]. - The company has been implicated in a commercial bribery case, further complicating its reputation and highlighting potential risks in its marketing practices [9].

Core Viewpoint - Guizhou Yibai Pharmaceutical Co., Ltd. is facing a severe trust crisis and operational challenges due to repeated compliance issues, including product quality problems and commercial bribery scandals, leading to significant financial losses and regulatory penalties [2][3][4]. Compliance Crisis - The Guizhou Provincial Drug Administration issued a suspension notice for Yibai Pharmaceutical's core product, children's cough syrup, citing "inaccurate records and unreliable electronic data," marking the second regulatory penalty within a year [2][3]. - The cumulative revenue from the children's cough syrup over four years was only 17.63 million yuan, accounting for less than 0.3% of total revenue, yet the suspension highlights deep-seated issues in the company's quality management system [3]. - In April 2024, the company's star product, Aidi injection, was also ordered to stop production due to violations in the extraction process, which previously generated 737 million yuan in annual sales, over 20% of total revenue [3]. Financial Performance - Yibai Pharmaceutical reported a net loss of 317 million yuan in 2024, the largest loss since its listing, with ongoing losses expected in 2025, projecting a loss of 17.7 million to 21.24 million yuan for the first half [4][5]. - The company attributed the revenue decline of 15% to reduced sales of major products, despite a 20% reduction in costs [5]. Research and Development Challenges - R&D expenses have decreased from 136 million yuan in 2021 to 101 million yuan in 2024, a cumulative decline of 25.7%, while sales expenses remained high at 1.097 billion yuan in 2024, accounting for 38.7% of revenue [5]. - The company currently has only three products in clinical stages, all of which are generic or modified new drugs, indicating insufficient pipeline reserves [5]. Governance Issues - The actual controller, the Dou Qiling family, has been deeply involved in the company's operations, leading to governance deficiencies, including a 2019 investigation revealing the extraction of 32.94 million yuan for personal use through false contracts [5]. - The family continues to hold key positions, with high salaries significantly exceeding industry averages, which poses a conflict with modern corporate governance practices [5]. Industry Context - The challenges faced by Yibai Pharmaceutical reflect broader issues within traditional pharmaceutical companies amid healthcare cost control and normalized drug procurement practices [6]. - The suspension of Aidi injection has left a gap in the oncology product line, while new approvals for traditional Chinese medicine have yet to achieve scale [6]. - The company's cash flow is under pressure, with only 280 million yuan in cash at the end of 2024 against short-term borrowings of 430 million yuan, increasing liquidity risks [6].

Core Viewpoint - Guizhou Yibai Pharmaceutical is facing significant challenges due to compliance issues, continuous losses, high sales expenses, and reputational damage from commercial bribery, marking a stark contrast to its previous success with the Aidi injection [1][2][3] Financial Performance - In 2024, the company's revenue plummeted by 22.92%, resulting in a net loss of 317 million yuan, with substantial declines in non-recurring net profit [2] - For the first half of 2025, the company anticipates a net loss of between 17.7 million and 21.24 million yuan, with non-recurring losses projected to be between 27.8 million and 33.36 million yuan, accumulating over 330 million yuan in losses since the suspension of Aidi injection [2] Compliance and Regulatory Issues - In April 2024, the Guizhou Provincial Drug Administration found serious violations in the production of Aidi injection, leading to a production halt and a fine of 2 million yuan [1] - In August 2025, the company faced further scrutiny as the production of a cough syrup was also halted due to non-compliance issues, despite its minimal revenue contribution [2] Sales and Marketing Concerns - From 2022 to 2024, the company's sales expenses were alarmingly high, reaching 1.196 billion yuan, 1.238 billion yuan, and 1.097 billion yuan, accounting for 43% to 50% of revenue, raising questions about fund allocation and compliance [3] - The company's aggressive marketing strategy has led to significant scrutiny from regulatory bodies, including the Shanghai Stock Exchange [3] Governance and Ethical Issues - The management has been criticized for improper fund usage, including personal expenditures on office furniture, which were confirmed by regulatory investigations [3] - The company has a history of bribery cases, including a public judgment in 2020 for bribing hospital personnel [3] Future Strategies - To recover, the company must overhaul its production quality control and compliance mechanisms, ensuring traceability and accurate record-keeping [4] - A balance between marketing and R&D needs to be restored, reallocating resources towards product innovation [4] - Enhancing governance transparency and board independence is crucial for rebuilding trust with investors and the public [4] - The company should actively cooperate with regulators to rectify issues and restore its core product and credit rating [4]

Core Viewpoint - Guizhou Yibai Pharmaceutical Co., Ltd. has received a suspension notice from the Guizhou Provincial Drug Administration regarding the production and sale of its children's cough syrup due to regulatory non-compliance identified during an inspection by the National Medical Products Administration [1][2]. Summary by Sections Regulatory Action - The company was issued a suspension notice (No. 4 of 2025) due to deficiencies found during an inspection, including incomplete record-keeping and unreliable electronic data recording [1]. - The suspension is in accordance with the relevant regulations and is effective immediately upon receipt of the notice [1]. Financial Impact - The revenue from the children's cough syrup for the years 2021, 2022, 2023, and 2024 was reported as 3.42 million, 4.32 million, 8.38 million, and 1.51 million respectively, representing a small percentage of the company's total revenue at 0.10%, 0.16%, 0.30%, and 0.07% [2]. - The suspension of the children's cough syrup production and sales is not expected to have a significant impact on the company's overall performance [2].

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 8月5日，贵州益佰制药（维权）股份有限公司（证券简称：益佰制药）发布公告称，公司收到贵州省药 品监督管理局下发的《暂停生产、销售通知书》，要求立即暂停小儿止咳糖浆的生产和销售。 截至8月5日收盘，公司股价报4.38元/股，下跌了1.57%。8月6日，益佰制药开盘下跌，截至智通财经发 稿，公司股价下跌了2.25%。 公告显示，此次暂停生产、销售的决定源于国家药品监督管理局食品药品审核查验中心在检查中发现的 问题。检查结果显示，益佰制药存在"个别记录未如实填写，部分电子数据未能采用可靠方式记录"的情 形，经综合评定为"不符合"标准。 益佰制药主营业务为中药制剂、化学药制剂的生产与销售。公司产品涵盖心脑血管、抗肿瘤、妇科、儿 科等多个治疗领域。 7月14日，益佰制药发布公告称，预计2025年半年度实现归母净利润约亏损1770万元至2124万元，归母 净利润扣除非经常性损益后预计亏损2780万元至3336万元。 益佰制药解释称，公司的主要产品销售减少，导致收入预计下降15%。尽管成本费用预计下降20%，但 成本费用金额仍大于收入金额，因此导致本 ...

Shareholder Reduction - Chengdu Dijing and Zhuo Yuqing, shareholders of Ruidi Zhichu, plan to reduce their holdings by a total of no more than 2.52% [1] - Tongde Industrial, a shareholder of Foster, intends to reduce its holdings by no more than 32.5236 million shares [1] - Huizhou Junqiang, a shareholder of Green Precision, plans to reduce its holdings by no more than 1.238 million shares [1] - The National Integrated Circuit Fund, a shareholder of Debang Technology, plans to reduce its holdings by no more than 3% [1] - Zhang Lixin, chairman and core technical personnel of Chipeng Micro, intends to reduce his holdings by no more than 2.6262 million shares [1] - Qian Chunbo, director and deputy general manager of Chuhai Technology, plans to reduce his holdings by no more than 548,300 shares [1] - Tai'an Tai, a shareholder of Zhejiang Agricultural Shares, intends to reduce its holdings by no more than 3% [1] - UCM, a shareholder of Youde Precision, plans to reduce its holdings by no more than 1% [1] - Ruizhong Life Insurance, a shareholder of Tongzhou Electronics, intends to reduce its holdings by no more than 1% [1] - Guangdong Kechuang, a shareholder of Hongqiang Shares, plans to reduce its holdings by no more than 1% [1] Other Company News - Yibai Pharmaceutical received a "suspension of production and sales notice" from the Guizhou Provincial Drug Supervision Administration [1] - Zhongma Transmission is not involved in the robotics business [1]