Core Viewpoint - Guizhou Sanli announced a significant change in shareholding structure due to the signing of a concerted action agreement between Zhang Hai and Hainan Yuexin Pharmaceutical Investment Partnership, which collectively increases their shareholding to 48.68% without altering the company's control [1] Shareholding Structure - Before the change, Zhang Hai and his concerted action partner Wang Huiying held a combined 43.74% of the company's shares, while Yuexin Pharmaceutical held 4.94% [1] - After the agreement, the three parties now hold a total of 199,056,487 shares, representing 48.68% of the company [1] Control and Pledge Status - The change does not involve any actual transfer or increase/decrease of shares, and it does not lead to a change in the company's control, with Zhang Hai remaining the actual controller [1] - As of the announcement date, Zhang Hai has 80,000,000 shares pledged, which accounts for 19.56% of the total share capital [1] Future Plans - The information disclosure obligor stated that there are no plans to increase or decrease shareholding in the company over the next 12 months [1]

Group 1 - Guizhou Sanli executed a block trade on October 28, with a transaction volume of 2.3757 million shares and a transaction amount of 28.7937 million yuan, at a price of 12.12 yuan per share [2] - The buyer was from China Merchants Securities Co., Ltd. Guizhou Jin Zhu East Road Securities Business Department, while the seller was from Guotai Junan Securities Co., Ltd. Shanghai Pudong Branch [2] - In the last three months, Guizhou Sanli has recorded a total of four block trades, amounting to 151 million yuan [2] Group 2 - On October 28, Guizhou Sanli closed at 12.12 yuan, down 1.54%, with a daily turnover rate of 1.69% and a total transaction amount of 83.1335 million yuan [2] - The net outflow of main funds for the day was 18.9405 million yuan, and over the past five days, the stock has decreased by 2.96% with a total net outflow of 40.0302 million yuan [2]

Investment Rating - The report maintains a "Recommendation" rating for Guizhou Sanli (603439.SH) with a current stock price of 12.31 yuan [1][10]. Core Views - The company is experiencing short-term performance pressure, with expectations for gradual release of reform effects in the future [1][8]. - The company reported a significant decline in revenue and net profit for the first three quarters of 2025, with revenue at 1.038 billion yuan (down 28.24% year-on-year) and net profit at 81 million yuan (down 58.39% year-on-year) [4][8]. - The company is focusing on strengthening its marketing system and transitioning from a prescription channel-dominated strategy to an OTC channel-focused approach, which is expected to gradually yield results [7][8]. Financial Summary - For 2025, the company is projected to achieve revenue of 1.83 billion yuan and a net profit of 168 million yuan, reflecting a downward revision from previous forecasts [6][8]. - The gross margin for the first three quarters of 2025 was 68.65%, a decrease of 0.63 percentage points year-on-year, while the net margin was 8.06%, down 5.68 percentage points year-on-year [7][8]. - The company has established a specialized OTC team and is enhancing online channel operations through partnerships with major e-commerce platforms [7][8]. Future Outlook - The company is expected to cultivate a second growth curve through investments in innovative drugs, with over ten innovative drug candidates already in the pipeline [7][8]. - The stock is currently trading at a PE ratio of 29.9 for 2025, indicating potential for improvement as demand for respiratory medications is anticipated to increase in the fourth quarter [8].

Group 1 - Guizhou Sanli's stock price decreased by 1.54%, closing at 12.12 yuan on October 28 [1] - A block trade occurred with a total volume of 2.3757 million shares and a transaction amount of 28.7937 million yuan, with a premium rate of 0.00% [1] - The buyer was from China Merchants Securities Co., Ltd., and the seller was from Guotai Junan Securities Co., Ltd. [1] Group 2 - In the last three months, Guizhou Sanli has had a total of four block trades, amounting to 151 million yuan [1] - Over the past five trading days, the stock has declined by 2.96%, with a net outflow of main funds totaling 46.1594 million yuan [1]

Core Viewpoint - Guizhou Sanli Pharmaceutical Co., Ltd. has released its third-quarter report for 2025, ensuring the accuracy and completeness of the financial information presented [2][8]. Financial Data Summary - The financial statements for the third quarter of 2025 have not been audited [3][5]. - The report includes major accounting data and financial indicators, although specific figures are not detailed in the provided text [3][4]. - The company has confirmed that there were no significant changes in the financial indicators compared to the previous period [4]. Shareholder Information - The report does not provide details on the number of shareholders or changes in major shareholders [4]. Meeting Details - The fourth board meeting of Guizhou Sanli was held on October 27, 2025, with all nine directors present, and the meeting was deemed legally valid [9][10]. - The board approved the third-quarter report through a voting process, with all votes in favor [10][11]. Supervisory Board Meeting - The supervisory board meeting also took place on October 27, 2025, with all three supervisors present, confirming the meeting's legality [14]. - The supervisory board approved the third-quarter report with unanimous support [16].

Group 1 - Guizhou Sanli executed a block trade on October 27, with a transaction volume of 5.4 million shares and a transaction value of 66.474 million yuan, at a price of 12.31 yuan per share [1] - The buyer was China International Capital Corporation Wealth Securities Co., Ltd. Shenzhen Branch, while the seller was Guotai Junan Securities Co., Ltd. Shanghai Pudong Branch [1] - In the last three months, Guizhou Sanli has recorded a total of three block trades, amounting to a cumulative transaction value of 122 million yuan [1] Group 2 - On October 27, Guizhou Sanli's closing price was 12.31 yuan, reflecting a decrease of 0.08%, with a daily turnover rate of 1.06% and a total transaction amount of 52.448 million yuan [1] - The net outflow of main funds for the day was 1.8918 million yuan, and over the past five days, the stock has seen a cumulative decline of 1.60% with a total net outflow of funds amounting to 31.9771 million yuan [1]

格隆汇10月27日丨贵州三力(603439.SH)发布三季报，2025年前三季度实现营业总收入10.38亿元，同比 下降28.24%；归属母公司股东净利润8078.7万元，同比下降58.39%；基本每股收益为0.2元。 ...

证券代码：603439 证券简称： 贵州三力 公告编号：2025-058 贵州三力制药股份有限公司 第四届监事会第十五次会议决议公告 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法律责任。 特此公告。 二、监事会会议审议情况 （一）审议通过《公司 2025 年第三季度报告》 具体内容详见公司同日于上海证券交易所网站（www.sse.com.cn）及指定媒 体披露的《贵州三力制药股份有限公司 2025 年第三季度报告》。 表决情况：3 票同意；0 票回避；0 票反对；0 票弃权。表决结果：通过。 一、监事会会议召开情况 2025 年 10 月 27 日，贵州三力制药股份有限公司（以下简称"公司"）第四 届监事会第十五次会议在公司会议室以现场表决方式召开。本次会议的会议通知 和材料于 2025 年 10 月 17 日以书面及通讯等方式送达所有参会人员。本次会议 应到监事 3 人，实到监事 3 人。本次会议由监事会主席龙静女士召集和主持，本 次会议无列席人员。会议的召开符合有关法律、行政法规、部门规章、规范性文 件和《公司章程》的有关规定， ...

Financial Performance - Revenue for Q3 2025 was CNY 336.67 million, a decrease of 36.10% compared to the same period last year[3] - Total profit for the year-to-date period was CNY 92.65 million, down 60.28% year-on-year[3] - Net profit attributable to shareholders for the year-to-date period was CNY 80.79 million, a decline of 58.39% compared to the previous year[3] - Basic and diluted earnings per share for the year-to-date period were both CNY 0.20, a decrease of 57.45% compared to the previous year[3] - Operating profit for the first three quarters of 2025 was CNY 85,967,211.72, a decline of 63.3% from CNY 234,380,412.46 in the same period of 2024[17] - The total profit for the current period is ¥92,653,437.43, a decrease from ¥233,267,825.05 in the previous period, representing a decline of approximately 60.3%[18] - The net profit attributable to the parent company's shareholders is ¥80,786,973.31, down from ¥194,132,141.59, indicating a decrease of about 58.3%[18] - Basic and diluted earnings per share for the current period are both ¥0.20, compared to ¥0.47 in the previous period, reflecting a decline of approximately 57.4%[19] Cash Flow - The net cash flow from operating activities for the year-to-date period was CNY 50.06 million, down 43.72% year-on-year[3] - Cash flow from operating activities for the first three quarters of 2025 is ¥50,063,635.17, down from ¥88,961,699.77 in the same period of 2024, a decrease of about 43.5%[21] - Cash inflow from investment activities is ¥62,253,447.96, compared to ¥85,564,226.37 in the previous year, showing a decline of approximately 27.2%[21] - Cash outflow from investment activities increased significantly to ¥328,744,570.00 from ¥152,846,887.68, representing an increase of about 114.5%[22] - Net cash flow from financing activities is ¥7,273,161.76, a recovery from a net outflow of ¥55,753,408.70 in the previous period[22] - The ending cash and cash equivalents balance is ¥265,690,689.23, down from ¥537,295,877.65, indicating a decrease of approximately 50.6%[22] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2.85 billion, a decrease of 10.77% from the end of the previous year[4] - Total assets as of September 30, 2025, were CNY 2,848,168,533.14, down 10.8% from CNY 3,192,107,890.63 at the end of 2024[15] - Total liabilities decreased to CNY 1,300,022,155.19, a reduction of 18.6% from CNY 1,597,480,848.71 at the end of 2024[15] - Shareholders' equity attributable to shareholders at the end of the reporting period was CNY 1.48 billion, down 3.05% from the end of the previous year[4] - Cash and cash equivalents decreased to CNY 265,692,689.23 as of September 30, 2025, down 44.0% from CNY 474,845,014.34 at the end of 2024[13] - Accounts receivable decreased to CNY 549,054,314.51, a decline of 24.6% from CNY 728,669,788.22 at the end of 2024[13] - Non-current assets increased to CNY 1,438,938,454.05, up 3.2% from CNY 1,394,122,568.79 at the end of 2024[14] Research and Development - Research and development expenses for the first three quarters of 2025 were CNY 19,391,017.47, a decrease of 35.0% compared to CNY 29,839,167.47 in the same period of 2024[17] Other Income - The company reported non-operating income of CNY 7.12 million for the current period, primarily from government subsidies[6] - The company reported a net loss from investments of CNY 3,187,150.12 for the first three quarters of 2025, compared to a profit of CNY 1,017,969.37 in the same period of 2024[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 26,336[9] Accounting Standards - The company has not applied new accounting standards or interpretations for the first time in 2025[23]

证券代码：603439 证券简称：贵州三力 公告编号：2025-057 贵州三力制药股份有限公司 第四届董事会第十六次会议决议公告 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法律责任。 该项议案已经公司第四届董事会审计委员会第十次会议审议通过，并同意提 交公司董事会审议。 特此公告。 贵州三力制药股份有限公司董事会 一、董事会会议召开情况 二、董事会会议审议情况 2025 年 10 月 27 日，贵州三力制药股份有限公司（以下简称"公司"）第四 届董事会第十六次会议在公司会议室以现场和通讯表决方式召开。本次会议的会 议通知和材料于 2025 年 10 月 17 日以书面及通讯等方式送达所有参会人员。本 次会议应到董事 9 人，实到董事 9 人。本次会议由董事长张海先生召集和主持， 本次会议无列席人员。会议的召开符合有关法律、行政法规、部门规章、规范性 文件和《公司章程》的有关规定，会议决议合法有效。 会议以记名投票表决方式，审议通过了如下议案： （一）审议通过《公司 2025 年第三季度报告》 具体内容详见公司同日于上海证券交易所网 ...