证券代码：603567 证券简称：珍宝岛 公告编号：临 2025-077 黑龙江珍宝岛药业股份有限公司 第五届董事会第二十八次会议决议公告 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。 黑龙江珍宝岛药业股份有限公司（以下简称"公司"）第五届董事会第二十 八次会议于 2025 年 11 月 24 日以通讯的方式召开。会议通知已于 2025 年 11 月 22 日以电子邮件等方式送达至全体董事。本次会议应参会董事 6 名，实际参会 董事 6 名，会议由公司董事长方同华先生主持。会议的召集和召开符合《中华人 民共和国公司法》和《公司章程》等有关规定。会议审议并通过以下议案： 一、审议并通过了《关于续聘公司 2025 年度审计机构的议案》 同意续聘中审亚太会计师事务所（特殊普通合伙）成为公司 2025 年度财务 报告和内部控制审计机构，聘期一年，费用为人民币 150 万元。 表决结果：同意 6 票，反对 0 票，弃权 0 票。 本议案尚需提交公司 2025 年第三次临时股东会审议。 具体内容详见同日在上海证券交易所网站（www.ss ...

Group 1 - The company, Zhenbao Island, has indicated that it offers treatment drugs for both Type A and Type B influenza [1] - The products currently in production and on sale include injectable Yanhuning, compound Qilan oral solution, children's Resuqing syrup, Shuanghuanglian oral solution, Shuanghuanglian injection, and injectable Shuanghuanglian [1]

Group 1 - The company, Zhenbaodao (603567.SH), has confirmed that it produces and sells several treatment drugs for influenza A and B, including injectable Yanhuning, compound Qilan oral solution, children's Resuqing syrup, Shuanghuanglian oral solution, Shuanghuanglian injection, and injectable Shuanghuanglian [1]

Group 1 - The core viewpoint of the news is that Zhenbao Island's stock performance and financial metrics indicate a challenging period, with significant declines in revenue and net profit, alongside notable trading activity in margin financing and securities lending [1][2]. Group 2 - As of November 20, Zhenbao Island's stock price fell by 1.94%, with a trading volume of 91.62 million yuan. The margin financing data shows a net buying of 236,200 yuan on that day, with a total margin balance of 287 million yuan, which is 2.88% of the circulating market value [1]. - The company reported a revenue of 919 million yuan for the first nine months of 2025, a year-on-year decrease of 54.73%, and a net profit attributable to shareholders of -373 million yuan, a decline of 193.81% compared to the previous year [2]. - Zhenbao Island has cumulatively distributed 1.302 billion yuan in dividends since its A-share listing, with 356 million yuan distributed over the past three years [3].

Core Points - The announcement details the compliance checks for traditional Chinese medicine (TCM) material production quality management standards in Heilongjiang Province, confirming that the inspected companies met the Good Agricultural Practices (GAP) requirements [3]. Group 1: Compliance Checks - The Heilongjiang Provincial Drug Administration conducted compliance checks on three companies: Heilongjiang Zhenbaodao Pharmaceutical Co., Ltd., Harbin Fangsheng Pharmaceutical Technology Co., Ltd., and Qitaihe Kangcaotang Medicinal Materials Co., Ltd. [3] - The checks were carried out from October 24 to November 7, 2025, focusing on the cultivation bases of TCM materials [3]. Group 2: Companies Inspected - Heilongjiang Zhenbaodao Pharmaceutical Co., Ltd. had a cultivation area of 108 acres for Ginkgo biloba leaves, and the inspection results confirmed compliance [3]. - Harbin Fangsheng Pharmaceutical Technology Co., Ltd. had a cultivation area of 202 acres for Shuxue Ning injection, also confirming compliance [3]. - Qitaihe Kangcaotang Medicinal Materials Co., Ltd. cultivated ginseng and red ginseng with a total area of 765 acres, meeting the GAP requirements [3].

Summary of Key Points Core Viewpoint - The A-share market experienced significant block trading activity on November 12, with a total transaction volume of 1.91 billion yuan across 66 stocks, indicating notable investor interest in specific companies [1]. Group 1: Trading Activity - The top three companies by transaction volume were Huali Group (974 million yuan), Century Huato (111 million yuan), and Chunfeng Power (77.24 million yuan) [1]. - A total of 10 stocks were traded at par value, 9 stocks at a premium, and 47 stocks at a discount [1]. Group 2: Premium and Discount Rates - The stocks with the highest premium rates were Tom Cat (18.6%), Beijing Bank (9.77%), and AVIC Chengfei (9.04%) [1]. - The stocks with the highest discount rates were Tengya Precision (23.88%), Lexin Technology (20.22%), and Wens Foodstuff (19.27%) [1]. Group 3: Institutional Buying and Selling - The ranking of institutional buying was led by Huali Group (974 million yuan), followed by Century Huato (111 million yuan) and Chunfeng Power (77.24 million yuan) [2]. - The top stocks sold by institutional investors included Century Huato (111 million yuan), followed by Hengrui Medicine (36.02 million yuan) and Haowei Group (26.44 million yuan) [2].

Core Viewpoint - The stock of Zhenbaodao has shown a mixed performance in recent trading sessions, with a slight increase on November 12, 2023, and a significant decline in revenue and profit for the first nine months of 2025 compared to the previous year [1][2]. Group 1: Stock Performance - On November 12, Zhenbaodao's stock rose by 2.16%, reaching a price of 11.85 CNY per share, with a trading volume of 48.31 million CNY and a turnover rate of 0.44%, resulting in a total market capitalization of 11.15 billion CNY [1]. - Year-to-date, Zhenbaodao's stock price has increased by 3.49%, while it has seen a 3.40% rise over the last five trading days, a 1.90% decline over the last 20 days, and a 6.40% drop over the last 60 days [1]. - The company has appeared on the "Dragon and Tiger List" once this year, with the most recent occurrence on October 27, where it recorded a net buy of -4.88 million CNY [1]. Group 2: Financial Performance - For the period from January to September 2025, Zhenbaodao reported a revenue of 919 million CNY, reflecting a year-on-year decrease of 54.73%, and a net profit attributable to shareholders of -373 million CNY, a decline of 193.81% compared to the previous year [2]. - Cumulatively, since its A-share listing, Zhenbaodao has distributed a total of 1.302 billion CNY in dividends, with 356 million CNY distributed over the past three years [3]. Group 3: Company Overview - Zhenbaodao Pharmaceutical Co., Ltd. is located in Harbin, Heilongjiang Province, and was established on October 28, 1996, with its shares listed on April 24, 2015. The company specializes in the research, production, and sales of traditional Chinese medicine, focusing on high-end formulations [1]. - The company's main revenue sources include sales of proprietary medicines (84.82%), purchased medicinal materials (7.13%), purchased pharmaceuticals (5.11%), and other income sources [1].

Core Viewpoint - The company is enhancing its competitive edge in the traditional Chinese medicine (TCM) sector through strategic collaborations, supply chain integration, and advanced manufacturing technologies, aiming for a comprehensive and efficient industry chain from cultivation to market [1][5]. Group 1: Strategic Collaborations - The company has partnered with Longjiang Forest Industry Group to establish a GAP planting base for Siberian ginseng, focusing on eight key areas including TCM supply and shared medical channels [1]. - This collaboration signifies a new phase of large-scale replication of the company's full industry chain synergy model, reflecting deep integration of "industry chain + manufacturing chain + innovation chain" [1]. Group 2: Market Positioning and Resource Integration - The company has developed the "Shennongzhou Traditional Chinese Medicine Health Theme Street" and an efficient spot trading area at its Bozhou TCM trading center, attracting over 2,000 pharmaceutical companies [2]. - The strategic layout extends to Southwest China, with a partnership between its subsidiary Guizhou Shennong Valley and the Guizhou TCM Industry Association to build a modern collaborative supply chain [2]. - This initiative enhances the company's control over key TCM resource areas and provides stable, high-quality raw material support for its industrial segment [2]. Group 3: Manufacturing and Quality Assurance - The company has established a mature smart factory system, achieving industry-leading stability in drug batch quality through a smart quality control platform [3]. - The transition from "experience manufacturing" to "scientific manufacturing" has been facilitated by the construction of national-level green factories and collaboration with Zhejiang University on a TCM CMC smart factory [3]. - The company plans to fully implement its "AI + medicine" strategy by 2025, utilizing AI technologies to ensure high product quality and consistency [3]. Group 4: Marketing Strategies - The company employs a differentiated market development strategy, rapidly covering various medical terminals through a dual-track approach of "medical institution penetration + grassroots network building" [4]. - Key cardiovascular products have shown stable growth in tiered hospitals and significant expansion in county markets, driven by collective procurement policies [4]. - The increasing number of terminal developments and quality customer contracts is expected to lead to a new phase of explosive growth in marketing performance [4]. Group 5: Performance Growth Drivers - The company has achieved efficient collaboration and value multiplication across its entire industry chain through resource integration, smart manufacturing upgrades, and innovative marketing strategies [5]. - Deep cooperation with strategic partners like Longjiang Forest Industry Group has further connected the industry loop from cultivation to terminal sales [5]. - Upcoming milestones, including clinical advancements and the release of new chemical drug varieties, are anticipated to provide robust growth momentum for the company's future performance [5].

Core Insights - The flu activity in China is on the rise, with significant increases in flu-related consultations reported, particularly in southern and northern provinces, indicating a widespread flu epidemic [1] - The demand for antiviral traditional Chinese medicine (TCM) is surging due to the high incidence of respiratory diseases, with hospital visits increasing by approximately 30%-50% year-on-year [3] - The combination of Western and traditional Chinese medicine is becoming a mainstream treatment approach for respiratory infections, leveraging the strengths of both medical systems [4] Industry Demand - The market for antiviral TCM is experiencing a sharp increase in demand, with reports of stock shortages for popular antiviral products in some regions [3][4] - The RSV (Respiratory Syncytial Virus) is prevalent among severe acute respiratory infection cases, particularly in children, creating a complex dual epidemic situation alongside the flu [3] Product Insights - The compound Qilan oral solution, derived from traditional formulations, exhibits both antiviral properties and immune regulation capabilities, making it particularly relevant in the context of mixed infections [5][8] - The product's multi-component and multi-target action mechanism helps regulate immune responses while alleviating core symptoms such as fever and cough [8] Company Operations - Zhenbaodao Pharmaceutical, a leading TCM company, is ramping up production to meet the increasing demand for antiviral products, ensuring a stable supply chain through rigorous quality control measures [8] - The company emphasizes the importance of maintaining high standards in the sourcing and production of raw materials to ensure product efficacy and reliability [8]

Market Overview - The Shanghai Composite Index closed at 3976.52 points, above the annual line, with a gain of 0.55% [1] - The total trading volume of A-shares reached 21,329.04 million yuan [1] Stocks Breaking Annual Line - A total of 110 A-shares have surpassed the annual line today, with notable stocks including: - Deer Chemical with a deviation rate of 14.65% - Yabao Chemical at 11.35% - Fushi Holdings at 10.87% [1] Top Stocks by Deviation Rate - The following stocks had the highest deviation rates from the annual line: - Deer Chemical: 20.75% increase, latest price 16.06 yuan, deviation rate 14.65% [1] - Yabao Chemical: 11.98% increase, latest price 8.13 yuan, deviation rate 11.35% [1] - Fushi Holdings: 13.39% increase, latest price 5.76 yuan, deviation rate 10.87% [1] Additional Stocks with Notable Performance - Other stocks with significant performance include: - Meirui New Materials: 19.99% increase, latest price 18.97 yuan, deviation rate 9.48% [1] - Intercontinental Oil and Gas: 10.13% increase, latest price 2.61 yuan, deviation rate 9.37% [1] - Tianjin Pulin: 10.00% increase, latest price 22.23 yuan, deviation rate 7.84% [1]