Group 1 - The core viewpoint of the news is that Jiangzhong Pharmaceutical has shown a positive stock performance with a year-to-date increase of 15.86% and a recent uptick of 2.05% in its stock price [1][2] - As of December 18, the stock price reached 24.91 yuan per share, with a market capitalization of 15.817 billion yuan and a trading volume of 75.7848 million yuan [1] - The company's main business revenue composition includes over-the-counter drugs at 72.40%, prescription drugs at 16.81%, and health consumer products at 10.67% [2] Group 2 - For the period from January to September 2025, Jiangzhong Pharmaceutical reported a revenue of 2.933 billion yuan, a year-on-year decrease of 1.30%, while the net profit attributable to shareholders increased by 7.74% to 683 million yuan [2] - The company has distributed a total of 4.843 billion yuan in dividends since its A-share listing, with 2.304 billion yuan distributed in the last three years [3] - As of September 30, 2025, the number of shareholders increased by 7.29% to 41,900, while the average circulating shares per person decreased by 6.79% to 14,986 shares [2]

Core Viewpoint - China Resources Pharmaceutical (华润医药) has acquired a controlling stake in Jiangzhong Pharmaceutical (江中药业), changing its actual controller from Jiangxi State-owned Assets Supervision and Administration Commission to China Resources Limited [2][5]. Group 1: Acquisition and Control Changes - In May 2018, China Resources Pharmaceutical signed a strategic restructuring agreement with Jiangxi State-owned Assets Supervision and Administration Commission [2][5]. - In February 2019, China Resources Pharmaceutical's wholly-owned subsidiary invested approximately 4.2 billion yuan to acquire 51% of Jiangzhong Group, thus becoming its controlling shareholder [2][5]. - Jiangzhong Pharmaceutical's actual controller changed from Jiangxi State-owned Assets Supervision and Administration Commission to China Resources Limited following the acquisition [2][5]. Group 2: Management Changes - Jiangzhong Pharmaceutical announced the resignation of three board members due to work adjustments, effective immediately for one and pending for the others until a new board is elected [2][5]. - New board candidates have been nominated by the controlling shareholder, including experienced professionals from various sectors [6]. Group 3: Business Overview - Jiangzhong Pharmaceutical's main business segments include over-the-counter drugs, prescription drugs, and health consumer products [6]. - The flagship product, Jianwei Shoushi Pian (健胃消食片), has been a top seller since its launch in 1994, achieving 169 million boxes sold last year [6]. - The revenue from the over-the-counter drug segment decreased by 10.14% year-on-year in the first half of this year, which is higher than the overall revenue decline of the company [6].

Investment Rating - The industry rating is maintained at "Overweight" [6] Core Insights - The Chinese medicine sector experienced a significant decline, with the Chinese medicine index dropping by 2.03% last week, while other pharmaceutical sub-sectors also faced declines, except for medical services which saw a 1.67% increase [1][19] - The price-to-earnings (PE) ratio for the Chinese medicine sector is 27.17X, down by 0.55X week-on-week, while the price-to-book (PB) ratio is 2.29X, down by 0.04X week-on-week [2] - The demand for flu-related and tonic herbs has increased, leading to a rise in the price index of Chinese medicinal materials, which is expected to continue to rise slightly in the future [3] - The national medical insurance work conference highlighted the restructuring of prices and market patterns as a major direction for the Chinese medicine industry in 2026, emphasizing the importance of collective procurement and support for innovation in the industry [4][9] Summary by Sections Market Performance - The Chinese medicine index closed at 6372.09 points, down 2.03% last week, with only the medical services sector recording positive returns [1][19] Valuation - The current PE ratio for the Chinese medicine sector is 27.17X, with a year-high of 30.26X and a year-low of 24.72X, placing it at the 28.41% percentile since 2013 [2] Supply Chain Insights - The price index for Chinese medicinal materials rose to 225.57 points, a 0.4% increase from the previous week, driven by increased demand due to the flu outbreak and winter tonic herbs [3] Policy and Market Trends - The 2026 direction for the Chinese medicine industry includes continued promotion of collective procurement and support for innovation, with an emphasis on price governance and market restructuring [4][10] - The focus on long-term care insurance is expected to increase demand for Chinese medicine products, particularly in the context of an aging population [9] Investment Recommendations - The report suggests focusing on three main investment themes: price governance, consumption recovery, and state-owned enterprise reform, with specific recommendations for companies with strong R&D capabilities and unique products [10][11]

Group 1 - The company Jiangzhong Pharmaceutical Co., Ltd. has announced a name change to China Resources Jiangzhong Pharmaceutical Co., Ltd. to enhance brand recognition and market influence [1][4] - The stock abbreviation will change to "华润江中" while the stock code remains unchanged [1][4] - The name change is part of a broader strategy following the acquisition by China Resources Group, which has been progressively taking control of Jiangzhong Group since 2018 [1][2] Group 2 - The decision to change the company name was approved during the 10th meeting of the 10th Board of Directors, with unanimous support from the board members [3] - The company aims to strengthen brand synergy with China Resources, which is expected to improve its market presence [1][4]

证券代码：600750 证券简称：江中药业 公告编号： 2025-064 江中药业股份有限公司 关于召开2025年第二次临时股东大会的通知 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： 一、召开会议的基本情况 (一)股东大会类型和届次 2025年第二次临时股东大会 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。 (六)融资融券、转融通、约定购回业务账户和沪股通投资者的投票程序 涉及融资融券、转融通业务、约定购回业务相关账户以及沪股通投资者的投 票，应按照《上海证券交易所上市公司自律监管指引第 1 号 — 规范运作》等有 关规定执行。 股东大会召开日期：2025年12月29日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票系统 (二)股东大会召集人：董事会 (三)投票方式：本次股东大会所采用的表决方式是现 ...

证券代码：600750 证券简称：江中药业 公告编号：2025- 061 本公司监事会及全体监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。 江中药业股份有限公司（以下简称"公司"）第十届监事会第九次会议于 2025 年 12 月 12 日在公司会议室以现场结合视频方式召开，会议通知于 2025 年 12 月 7 日以书面形式发出，应参会监事 3 人，实到 3 人。会议召集召开符合 《公司法》和《公司章程》的有关规定。 会议由监事会主席周娇女士主持，经与会监事认真讨论，审议通过以下议 案： 一、关于取消监事会并修订《公司章程》的议案 表决情况：3 票同意，0 票反对，0 票弃权。通过本议案。 为进一步规范公司运作、完善公司治理，根据《公司法》《上市公司章程指 引》等相关法律法规、规范性文件的规定，同意公司不再设置监事会，由董事 会审计委员会行使监事会的职权，公司《监事会议事规则》相应废止，并对 《公司章程》及相关制度同步进行修订。 在公司股东大会审议通过取消监事会事项前，公司第十届监事会仍将严格 按照《公司法》等法律法规和规范性文件的要求， ...

证券代码：600750 证券简称：江中药业 公告编号：2025- 060 江中药业股份有限公司 第十届董事会第十次会议决议公告 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。 江中药业股份有限公司（以下简称"公司"或"江中药业"）第十届董事会 第十次会议于 2025 年 12 月 12 日在公司会议室以现场结合视频方式召开，会议 通知于 2025 年 12 月 7 日以书面形式发出，会议应到董事 9 人，实到董事 9 人。 公司监事和高级管理人员列席。本次会议召集召开符合《公司法》和《公司章 程》的有关规定。 会议由公司董事长刘为权先生主持，经与会董事充分研究和讨论，审议通 过以下议案： 一、关于变更公司名称及证券简称、变更注册资本、取消监事会并修订 《公司章程》的议案 表决情况：8 票同意，0 票反对，0 票弃权，通过本议案。 为强化与华润的品牌协同认知，进一步提升公司品牌辨识度和市场影响力， 公司拟将中文名称变更为"华润江中药业股份有限公司"，英文名称变更为 "China Resources Jiangzhong P ...

2025-063 证券代码： 600750 证券简称： 江中药业 公告编号： 江中药业股份有限公司 关于公司董事变动的公告 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： 江中药业股份有限公司（以下简称"公司"）董事会于近日收到第十届董事 会董事胡凤祥先生、崔兴品先生、邓蓉女士的辞职报告。因工作调整，胡凤祥先 生申请辞去公司董事职务，崔兴品先生、邓蓉女士申请辞去公司董事及董事会专 门委员会委员职务。 公司于 2025 年 12 月 10 日召开了第十届董事会提名委员会 2025 年第二次会 议，于 2025 年 12 月 12 日召开了第十届董事会第十次会议，审议通过了《关于 增补公司第十届董事会非独立董事候选人的议案》《关于增补公司第十届董事会 独立董事候选人的议案》，同意公司控股股东华润江中制药集团有限责任公司（以 下简称"华润江中"）提名白晓松先生、江春林先生、李国峰先生为公司非独立 董事候选人，提名王金本先生为公司独立董事候选人，任期自股东大会审议通过 之日起至公司本届董事会届满为止。本次增补独立董事事 ...

Group 1 - Moer Thread plans to use up to 7.5 billion yuan of idle raised funds for cash management, with a usage period of 12 months [1] - O-film plans to purchase 8.46% equity of its subsidiary Anhui Che Lian for a total of 3.64 billion yuan, increasing its ownership from 78.54% to 87% [2] - ST Lian Shi applies to revoke the delisting risk warning as its restructuring plan has been completed [3] Group 2 - Weirli signs a strategic cooperation framework agreement with Primech Holdings to build an industrial robot cooperation platform [4] - Race Intelligent plans to raise no more than 1.144 billion yuan through a private placement for core components of intelligent equipment [5] - Renfu Pharmaceutical's stock will be subject to other risk warnings and will be suspended for one day starting December 15 [6] Group 3 - Yongding Co. clarifies that its subsidiary Dongbu Superconductor does not directly manufacture controllable nuclear fusion devices [7] - Rongbai Technology plans to acquire part of Guizhou Xinren's equity and increase its capital to achieve control [9] - ST Hu Ke is under investigation by the Securities Regulatory Commission for suspected information disclosure violations [10] Group 4 - Yunnan Ge Industry plans to establish a subsidiary focused on organic germanium-related products [11] - Greenme intends to acquire 16.38% equity of Henan Recycling Group for 400 million yuan [12] - Jiangzhong Pharmaceutical plans to change its name to China Resources Jiangzhong Pharmaceutical [13] Group 5 - Jiangsu Guoxin's subsidiary Ma Zhou Power has completed the trial operation of a 1,000 MW coal-fired power generation unit [16] - Longsheng Technology plans to invest in a center for embodied intelligent robots [18] - Guangzhou Development has received approval for the registration of 8 billion yuan medium-term notes and 6 billion yuan short-term financing notes [19] Group 6 - China Merchants Port reported a container throughput of 17.248 million TEUs in November, a year-on-year increase of 6.4% [20] - Tianma Technology reported a total eel output of approximately 11,415.87 tons from January to November [21] Group 7 - Xilong Science plans to reduce its stake by up to 1% [22] - Xicet Testing's actual controller plans to transfer 5% of the company's shares [23] - Oppein Home's actual controller plans to increase its stake by 50 million to 100 million yuan [24] Group 8 - Maide Medical plans to repurchase shares worth 20 million to 40 million yuan [25] - Baicheng Pharmaceutical's major shareholder increased its stake by 0.85% [26] - Mengbaihe's major shareholder plans to reduce its stake by up to 1% [27] Group 9 - Xian Dao Ji Dian's shareholder has reduced its stake by 1.70% [28] - Yaxiang Integration's shareholder reduced its stake by 41,400 shares [29] - Zhiwei Intelligent's actual controller has reduced its stake, bringing the total holding to 69% [30] Group 10 - Jincheng Co.'s actual controller plans to reduce its stake by up to 0.97% [31] - Jianghua Micro's chairman has reduced his stake by 1.09% [32] - COSCO Shipping Energy signed a shipbuilding contract worth 7.882 billion yuan [33] Group 11 - Dayu Water Saving's subsidiary is expected to win two high-standard farmland construction projects [34] - Guorui Technology's subsidiary is a candidate for the GXLF project [36] - ST Zhisheng has won a smart city governance project worth 104 million yuan [37]

Group 1 - Jiangzhong Pharmaceutical announced the resignation of three board members due to work adjustments, including Hu Fengxiang, Cui Xingpin, and Deng Rong [1] - The company held meetings to approve the nomination of new non-independent and independent director candidates, including Bai Xiaosong, Jiang Chunlin, Li Guofeng, and Wang Jinben [1] - As of the first half of 2025, Jiangzhong Pharmaceutical's revenue composition was 99.64% from the pharmaceutical industry, 0.25% from the liquor industry, and 0.11% from other businesses [1] Group 2 - Jiangzhong Pharmaceutical's market capitalization is currently 15.5 billion yuan [1]