2026年2月9日，国家组织药品集采接续采购开标，涉及316种化学药品，覆盖抗感染、抗肿瘤等重点领 域，中选结果预计3月底落地。作为医药生物板块企业，汉商集团主营业务包含化药制剂(占比 47.74%)，该事件可能对行业定价及销售预期带来影响。公司近期异动分析显示，其业务布局延伸至物 业管理、民营医院、医药电商及辅助生殖领域，但相关公告多为历史事件(如2024年8月重大资产重组计 划)，近期无新增重大动态。 经济观察网汉商集团（600774）近7天(2026年2月9日至13日)股价波动较为平缓，区间涨跌幅 为-0.10%，振幅达4.68%。最新交易日2026年2月13日收盘价为9.82元，单日上涨0.51%，成交金额 5165.48万元，换手率1.78%。资金面上，当日主力资金净流出438.23万元，连续多日呈现净流出态势， 反映短期资金参与度较低。 近期事件 财报分析 以上内容基于公开资料整理，不构成投资建议。 机构对汉商集团关注度较低，最新舆情偏中性，无近期调研记录。机构评级中性占比100%，未给出明 确目标价或盈利预测调整，显示市场对其短期预期较为平淡(基于内部数据库整合)。 根据2025年三季报数据，汉 ...

Core Viewpoint - Han Commercial Group Co., Ltd. is expected to report a net loss for the year 2025, continuing its trend of negative profitability from the previous year [2][3]. Group 1: Performance Forecast - The company anticipates a net profit attributable to shareholders of the parent company in the range of -90 million to -60 million yuan for the year 2025 [2][3]. - The expected net profit, excluding non-recurring gains and losses, is projected to be between -49.98 million and -19.98 million yuan [4]. Group 2: Previous Year’s Performance - In the previous year, the total profit was -5.4686 million yuan, with a net profit attributable to shareholders of the parent company at -14.5872 million yuan [6]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, was -38.0898 million yuan [6]. Group 3: Reasons for Expected Loss - The primary reason for the anticipated loss in 2025 is the planned impairment of goodwill related to the Wuhan Huake Reproductive Obstetrics Hospital asset group, estimated to be between 80 million and 90 million yuan [8]. - This non-cash impairment is expected to significantly impact the company's net profit for the year [8].

Core Viewpoint - The company, Han Commercial Group Co., Ltd., anticipates a continued loss for the fiscal year 2025, projecting a net profit attributable to shareholders of between -90 million and -60 million yuan, indicating a worsening financial situation compared to the previous year [2][3]. Group 1: Performance Forecast - The performance forecast period is from January 1, 2025, to December 31, 2025 [3]. - The company expects a net profit attributable to shareholders of between -90 million and -60 million yuan for 2025, continuing the trend of losses from the previous year [2][3]. - The projected net profit, excluding non-recurring gains and losses, is estimated to be between -49.98 million and -19.98 million yuan [4]. Group 2: Previous Year’s Financial Performance - In the previous year, the total profit was -5.4686 million yuan, with a net profit attributable to shareholders of -14.5872 million yuan [6]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, was -38.0898 million yuan [6]. - The earnings per share for the previous year were -0.0494 yuan [7]. Group 3: Reasons for Expected Loss - The company adheres to the "Enterprise Accounting Standards" and related accounting policies, conducting year-end impairment tests on relevant assets [8]. - A significant factor contributing to the expected loss for 2025 is the planned goodwill impairment related to the Wuhan Huake Reproductive Obstetrics Hospital asset group, estimated between 80 million and 90 million yuan [8]. - The final amount of goodwill impairment will be determined by the evaluation and audit conducted by the company's appointed assessment and audit institutions [8].

Core Viewpoint - Han Commercial Group (600774.SH) is expected to continue incurring losses in 2025, with projected net profit attributable to shareholders ranging from -90 million to -60 million yuan compared to the previous year [1] Financial Performance - The company anticipates a net profit attributable to shareholders, excluding non-recurring gains and losses, to be between -49.98 million and -19.98 million yuan for the year 2025 [1]

证券代码：600774 股票简称：汉商集团 编号：2026-002 （一）业绩预告期间 2025 年 1 月 1 日至 2025 年 12 月 31 日 （二）业绩预告情况 经财务部门初步测算，并就业绩预告有关事项与年审会计师及评估师进 行了预沟通，预计 2025 年年度实现归属于母公司所有者的净利润-9000 万元 到-6000 万元，与上年同期相比，将继续亏损。 预计 2025 年年度实现归属于母公司所有者的扣除非经常性损益后的净利 润-4998 万元到-1998 万元。 汉商集团股份有限公司 2025 年年度业绩预告 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: 一、本期业绩预告情况 （三）公司本次所预计的业绩未经注册会计师审计。 业绩预告的具体适用情形：净利润为负值。 汉商集团股份有限公司（以下简称"公司"）预计 2025 年年度实现 归属于母公司所有者的净利润-9000 万元到-6000 万元，与上年同期 （法定披露数据）相比，将继续亏损。预计 2025 年年度实现归属于 母公司所有者的扣除非经常性 ...

Core Viewpoint - Han Commercial Group has issued an annual performance forecast indicating a projected net loss attributable to shareholders of the listed company for 2025, ranging from -90 million to -60 million yuan [1] Financial Performance - The expected net profit attributable to shareholders, excluding non-recurring gains and losses, is projected to be between -49.98 million and -19.98 million yuan for 2025 [1] - The company is adhering to the "Enterprise Accounting Standards" and related accounting policies, conducting year-end impairment tests on relevant assets [1] Impairment and Valuation - The company plans to recognize goodwill impairment for the asset group of Wuhan Huake Reproductive Obstetrics Hospital, with an estimated impairment amount between 80 million and 90 million yuan [1] - This non-cash impairment is identified as the primary reason for the projected negative net profit in 2025 [1] - The final amount of goodwill impairment will be determined by the evaluation and audit conducted by the company's appointed assessment and audit institutions [1]

Group 1: Market Overview - The market experienced significant activity with over 3,900 stocks rising, and the North Stock 50 Index surged over 3% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 3.09 trillion, an increase of 393.5 billion compared to the previous trading day [1] - Key sectors leading the market included photovoltaic, commercial aerospace, gold, and AI applications [1] Group 2: Company Highlights - Fenglong Co., Ltd. (002931) achieved an 18-day consecutive limit-up, with a price increase of 405.74% from December 25, 2025, to January 23, 2026, and is now under trading suspension for risk assessment [2] - Xian Dao Intelligent (300450) projected a net profit of 1.5 billion to 1.8 billion for 2025, representing a year-on-year growth of 424.29% to 529.15%, driven by a recovery in the global power battery market and strong demand in the energy storage sector [3] - The company is enhancing its cash flow management and improving its operational resilience through accelerated equipment acceptance and payment collection [3] Group 3: New Stock Offering - A new stock, Beixin Life, is available for subscription on January 26, 2026, with an issue price of 17.52, listed on the Shanghai Stock Exchange, and belongs to the medical consumables sector [5] Group 4: External Market Influence - The Nasdaq Composite Index rose by 0.28%, while the Dow Jones Industrial Average fell by 0.58%, indicating mixed performance in the U.S. stock market [7] - The precious metals sector led the gains, with Pan American Silver rising over 4% [7]

Group 1 - The chemical pharmaceutical sector increased by 0.91% on January 23, with Guangshantang leading the gains [1] - The Shanghai Composite Index closed at 4136.16, up 0.33%, while the Shenzhen Component Index closed at 14439.66, up 0.79% [1] - Guangshantang's stock price rose by 20.00% to 96.28, with a trading volume of 185,500 shares [1] Group 2 - The main funds in the chemical pharmaceutical sector experienced a net outflow of 487 million yuan, while retail investors saw a net inflow of 1.12 billion yuan [2] - The stock performance of several companies showed varied results, with some experiencing declines, such as Xingqi Eye Medicine down 4.86% [2] - The trading volume and turnover for various companies in the sector were significant, with notable figures such as 1.62 billion yuan for Xingqi Eye Medicine [2] Group 3 - Guangshantang had a net inflow of 396 million yuan from main funds, while retail investors had a net outflow of 136 million yuan [3] - Other companies like Hancheng Group and Shutaishen also showed significant net inflows and outflows, indicating varied investor sentiment [3] - The data reflects a mixed investment environment within the chemical pharmaceutical sector, with both institutional and retail investors actively participating [3]

Group 1 - The core viewpoint of the news is that the A-share market is seeing a strong performance in innovative drug concept stocks, driven by a policy encouraging the sale of innovative drugs and reference preparations in retail pharmacies [1] Group 2 - Guangshentang (300436) experienced a 20% increase, with a total market value of 15.3 billion and a year-to-date increase of 8% [2] - Zhongsan Co. (301093) rose by 12%, with a market capitalization of 13.8 billion and a year-to-date increase of 63.89% [2] - Hanshang Group (600774) saw a 10% increase, with a market value of 3.408 billion and a year-to-date increase of 26.37% [2] - Hite Bio (300683) increased by 7.92%, with a market capitalization of 4.371 billion and a year-to-date increase of 20.41% [2] - Bibete (688759) rose by 6.64%, with a market value of 24.9 billion and a year-to-date increase of 90.09% [2] - Shutaishen (300204) increased by 5.78%, with a market capitalization of 13.6 billion and a year-to-date increase of 4.58% [2] - Chengdu Xian Dao (688222) rose by 5.42%, with a market value of 13.8 billion and a year-to-date increase of 46.78% [2] - Haiwang Bio (000078) increased by 5.23%, with a market capitalization of 10.1 billion and a year-to-date increase of 10.40% [2] - Jiuzhoutong (600998) rose by 4.71%, with a market value of 28 billion and a year-to-date increase of 8.59% [2] - Hongbo Pharmaceutical (301230) increased by 4.60%, with a market capitalization of 6.76 billion and a year-to-date increase of 62.48% [2] - Huana Pharmaceutical (688799) rose by 4.09%, with a market value of 6.882 billion and a year-to-date increase of 9.87% [2]

Group 1 - The A-share market saw a significant decline in innovative drug concept stocks, with notable drops including Aidi Pharmaceutical down over 11% and Yifang Bio down over 5% [1] - Other companies such as Xingqi Pharmaceutical, Zhenbaodao, and Dize Pharmaceutical experienced declines of over 4%, while Rongchang Bio, Hanshang Group, Yuekang Pharmaceutical, Xinlitai, Haishike, Shanghai Yizhong, and Kanghong Pharmaceutical fell by over 3% [1] Group 2 - Aidi Pharmaceutical (688488) reported a decline of 11.33%, with a total market value of 7.835 billion and a year-to-date increase of 14.02% [2] - Yifang Bio (688382) decreased by 5.99%, with a market capitalization of 15 billion and a year-to-date decline of 4.99% [2] - Xingqi Pharmaceutical (300573) fell by 4.82%, with a market value of 19.4 billion and a year-to-date increase of 12.01% [2] - Zhenbaodao (603567) dropped by 4.74%, with a market capitalization of 7.951 billion and a year-to-date decline of 5.38% [2] - Dize Pharmaceutical (688192) decreased by 4.19%, with a market value of 27.5 billion and a year-to-date increase of 2.78% [2] - Rongchang Bio (688331) fell by 3.98%, with a market capitalization of 56.1 billion and a year-to-date increase of 27.79% [2] - Hanshang Group (600774) decreased by 3.93%, with a market value of 3.101 billion and a year-to-date increase of 14.99% [2] - Yuekang Pharmaceutical (688658) dropped by 3.84%, with a market capitalization of 12 billion and a year-to-date increase of 18.40% [2] - Xinlitai (002294) fell by 3.32%, with a market value of 55.5 billion and a year-to-date increase of 0.48% [2] - Haishike (002653) decreased by 3.23%, with a market capitalization of 56.1 billion and a year-to-date decline of 2.44% [2] - Shanghai Yizhong (688091) dropped by 3.17%, with a market value of 11.2 billion and a year-to-date increase of 15.60% [2] - Kanghong Pharmaceutical (002773) fell by 3.15%, with a market capitalization of 29.5 billion and a year-to-date increase of 6.81% [2]