Group 1 - The company has provided a guarantee of up to RMB 200 million for its subsidiary Anhui Jiuzhou Fangyuan Pharmaceutical Co., Ltd. to meet its bank financing needs [1][2] - The guarantee is structured as a joint liability guarantee with a term of 12 months, and there is a counter-guarantee in place [1][2] - The board of directors approved the guarantee proposal with a majority vote, and it was subsequently ratified by the shareholders' meeting [1][2] Group 2 - A counter-guarantee agreement has been signed with other shareholders of Anhui Jiuzhou Fangyuan, who will use their personal assets to cover the guarantee provided by the company [2] - The counter-guarantee covers all loan principal and interest, including penalties and related costs incurred by the company [2] - The necessity and reasonableness of the guarantee are justified by the stable operational status and good credit record of the subsidiary, ensuring that the risks are manageable and do not harm the company's interests [3]

一、担保的基本情况 为满足黑龙江珍宝岛药业股份有限公司（以下简称"公司"或"珍宝岛"） 参股子公司安徽九洲方圆制药有限公司（以下简称"安徽九洲方圆"）的银行融 资需要，公司于 2025 年 7 月 16 日与中国农业银行亳州谯城支行签订《最高额保 证合同》，为参股子公司安徽九洲方圆向其申请借款提供担保，担保本金最高金 额为人民币 2.00 亿元，担保方式为连带责任保证，保证期限为 12 个月。本次担 保存在反担保。 二、内部决策程序 证券代码：603567 证券简称：珍宝岛 公告编号：临2025-055 公司于 2025 年 6 月 15 日召开第五届董事会第二十四次会议，审议并通过了 《关于为参股子公司提供担保的议案》，该议案已经全体董事的过半数董事审议 通过以及出席董事会会议的三分之二以上董事审议通过，董事会同意提请公司股 东大会授权公司法定代表人处理在核定担保额度内的担保事项并签署相关协议。 黑龙江珍宝岛药业股份有限公司 公司于 2025 年 6 月 25 日召开 2024 年年度股东大会会议，审议并通过了《关 于为参股子公司提供担保的议案》，同意公司对参股子公司提供担保金额为 2.00 亿元的担保。 ...

Core Viewpoint - On July 21, a total of 23 listed companies had their restricted shares unlocked, with a total market value of approximately 5.36 billion yuan [1] Summary by Category Restricted Share Unlocking - The specific details of the restricted share unlocking include: - Shandong High Energy (000803): 1.2772 million shares from equity incentive - Yueyang Xingchang (000819): 2.1525 million shares from equity incentive - Zhangyu A (000869): 2.0357 million shares from equity incentive - Sheneng Co., Ltd. (600642): 9.7161 million shares from equity incentive - Batian Co., Ltd. (002170): 1.2 million shares from equity incentive - Wanma Co., Ltd. (002276): 2.6112 million shares from equity incentive - Chuanfa Longmang (002312): 12.5 million shares from A-share issuance - Chengda Pharmaceutical (301201): 6.15594 million shares with extended lock-up period - Maoshuo Power (002660): 8.22983 million shares from A-share issuance - Laobaixing (603883): 193.6 thousand shares from equity incentive - Zhenbaodao (603567): 726.9 thousand shares from equity incentive - Lifang Pharmaceutical (003020): 234 thousand shares from equity incentive - Triangle Defense (300775): 110.4 thousand shares from equity incentive - Yidao Information (001314): 46.26 thousand shares from equity incentive - Honghe Technology (603256): 252.65 thousand shares from equity incentive - Guomao Co., Ltd. (603915): 165.8 thousand shares from equity incentive - Arrow Home (001322): 135.28 thousand shares from equity incentive - Hongying Intelligent (001266): 18 thousand shares from equity incentive - Kangpeng Technology (688602): 4.6189 million shares - Juyi Technology (688162): 108.1 thousand shares - Xidiwei (688173): 15.4 million shares - Aike Optoelectronics (688610): 68 thousand shares - Hangcai Co., Ltd. (688563): 180 thousand shares [1]

Core Viewpoint - The company, Heilongjiang Zhenbaodao Pharmaceutical Co., Ltd., has announced a guarantee for its associate company, Anhui Jiuzhou Fangyuan Pharmaceutical Co., Ltd., amounting to RMB 200 million to support its bank financing needs [1][2]. Summary by Sections Guarantee Overview - The guarantee is provided to Anhui Jiuzhou Fangyuan for a maximum amount of RMB 200 million, with a guarantee period of 12 months [1][4]. - The guarantee is structured as a joint liability guarantee, and there is a counter-guarantee from other shareholders of Anhui Jiuzhou Fangyuan [2][4]. Internal Decision-Making Process - The company's board of directors approved the guarantee proposal on June 15, 2025, with a majority of directors in favor [2]. - The shareholders' meeting on June 25, 2025, also approved the guarantee amount of RMB 200 million [2]. Basic Information of the Guaranteed Entity - Anhui Jiuzhou Fangyuan is a company in which the company holds a 34.82% stake, with other major shareholders holding significant portions as well [3]. - The company was established on May 7, 2013, and has a registered capital of RMB 324.76 million [3]. Main Content of the Guarantee Agreement - The guarantee covers all debts including principal, interest, penalties, and any costs incurred in enforcing the creditor's rights [4]. - The total amount of external guarantees provided by the company is RMB 1.791 billion, which is 22.96% of the company's latest audited net assets [5]. Necessity and Reasonableness of the Guarantee - The guarantee is deemed necessary to support the operational needs of Anhui Jiuzhou Fangyuan, which has a stable operational status and good credit record [4][5]. - The board believes that the risks associated with the guarantee are controllable and will not harm the interests of the company or its shareholders [5].

黑龙江珍宝岛药业股份有限公司 证券代码：603567 证券简称：珍宝岛 公告编号：临2025-054 为满足参股子公司安徽九洲方圆制药有限公司（以下简称"安徽九洲方圆"） 的银行融资需要，公司于 2025 年 7 月 16 日与中国农业银行亳州谯城支行签订《最 高额保证合同》，为参股子公司安徽九洲方圆向其申请借款提供担保，担保本金 最高金额为人民币 2.00 亿元，担保方式为连带责任保证，保证期限为 12 个月。 本次担保存在反担保。 （二） 内部决策程序 关于为参股子公司提供担保进展的公告 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： 担保对象及基本情况 | 被担保人名称 | | 安徽九洲方圆制药有限公司 | | | --- | --- | --- | --- | | 本次担保金额 | 20,000 | 万元 | | | 实际为其提供的担保余额 担保对象 | 20,000 | 万元 | | | 是否在前期预计额度内 | 是 | □否 | □不适用：_________ | | 本次担保是否有反担保 | 是 ...

证券代码：603567 证券简称：珍宝岛 公告编号：2025-053 黑龙江珍宝岛药业股份有限公司 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: ●本期业绩预告适用于净利润为负值的情形。 ●黑龙江珍宝岛药业股份有限公司（以下简称"公司"）预计2025年半年度 实现归属于上市公司股东的净利润约为-7,700万元到-6,600万元，与上年同期相 比，将出现亏损。 ●公司预计2025年半年度实现归属于上市公司股东的扣除非经常性损益的净 利润约为-8,300万元到-7,300万元。 一、本期业绩预告情况 的净利润约为-7,700万元到-6,600万元，与上年同期相比，将出现亏损。 净利润约为-8,300万元到-7,300万元。 （三）本期业绩预告为公司根据经营情况的初步测算，未经注册会计师审计。 二、上年同期业绩情况 （一）利润总额：50,166.72万元。 （二）归属于上市公司股东的净利润：39,333.20万元。 （三）归属于上市公司股东的扣除非经常性损益的净利润：36,211.51万元。 （四）基本每股收益：0 ...

珍宝岛（603567.SH）披露2025年半年度业绩预告，上半年珍宝岛围绕"现代 中药+ 创新药"双轮驱动战 略持续发力，持续加码中药 智能制造、中药创新药研发与生物药布局。公司1.1类中药创新药清降和胃 颗粒研发进程迎来关键节点——II期临床试验在长沙市第三医院成功实现全国首例受试者入组。参股企 业特瑞思ADC创新药管线亦有实质性进展，多个项目正推进临床或注册准备阶段，公司核心产品竞争 力与中长期成长潜力有望进一步增强。 ...

证券代码：603567 证券简称：珍宝岛 公告编号：2025-053 黑龙江珍宝岛药业股份有限公司 2025年半年度业绩预告的公告 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: ●本期业绩预告适用于净利润为负值的情形。 ●黑龙江珍宝岛药业股份有限公司（以下简称"公司"）预计2025年半年度 实现归属于上市公司股东的净利润约为-7,700万元到-6,600万元，与上年同期相 比，将出现亏损。 ●公司预计2025年半年度实现归属于上市公司股东的扣除非经常性损益的净 利润约为-8,300万元到-7,300万元。 一、本期业绩预告情况 （一）业绩预告期间：2025年1月1日至2025年6月30日。 （二）业绩预告情况 1、经财务部门初步测算，公司预计2025年半年度实现归属于上市公司股东 的净利润约为-7,700万元到-6,600万元，与上年同期相比，将出现亏损。 2、公司预计2025年半年度实现归属于上市公司股东的扣除非经常性损益的 净利润约为-8,300万元到-7,300万元。 （三）本期业绩预告为公司根据经营情 ...

Investment Rating - The report maintains an optimistic outlook on the pharmaceutical industry, particularly for 2025, suggesting a potential for diverse investment opportunities as the sector recovers from low valuations and public fund allocations [10]. Core Insights - The pharmaceutical sector is currently experiencing low valuations, with public funds under-allocating to this area. The report anticipates a recovery driven by macroeconomic factors and significant product launches [10]. - The report emphasizes a shift in the innovative drug sector from quantity to quality, highlighting the importance of differentiated products and international expansion for profitability [10]. - The medical device sector is seeing a rebound in bidding volumes, particularly in imaging equipment, and is expected to benefit from domestic product upgrades and international market expansion [10]. - The report identifies a growing trend in the CXO and life sciences services sector, with expectations for increased investment and a recovery in demand [10]. - The traditional Chinese medicine sector is projected to benefit from policy changes and market dynamics, with specific companies recommended for investment based on their unique product offerings and market positions [12]. Summary by Sections Market Review - The report notes a 1.80% increase in the CITIC Pharmaceutical Index, outperforming the CSI 300 Index by 0.98 percentage points, ranking 16th among 30 sectors [7]. - The top-performing stocks include Frontline Bio-U, MediWest, and Lianhuan Pharmaceutical, while the worst performers include ST Weiming and Innovent Biologics [7]. Overall Perspective and Investment Themes - The report suggests that the pharmaceutical industry is poised for growth, with a focus on innovative drugs, medical devices, and traditional Chinese medicine. Specific companies are highlighted for their potential in these areas [10][12]. - The report also discusses the implications of policy changes and market trends for the pharmaceutical and medical device sectors, indicating a favorable environment for investment [10][12]. Company-Specific Insights - Companies like Baiyi, Xinda, and Kangfang are highlighted for their innovative drug pipelines and potential for growth in the coming years [10][12]. - The report provides detailed insights into the clinical progress of various drugs across different companies, indicating a robust pipeline that could drive future revenue [13][20][24][30][35][38].

Market Review - The CITIC Pharmaceutical Index increased by 1.80%, outperforming the CSI 300 Index by 0.98 percentage points, ranking 16th among 30 CITIC first-level industry indices [5] - The top ten stocks by increase this week include Frontier Biologics-U, Medici, Lianhuan Pharmaceutical, Kangchen Pharmaceutical, and others, with Frontier Biologics-U leading at 41.43% [4][5] - The bottom ten stocks by decrease include ST Weiming, Shenzhou Cell, and Shuotai Shen, with ST Weiming dropping by 18.51% [4][5] Overall Viewpoint and Investment Themes - The current valuation of the pharmaceutical sector is at a low point, with public funds (excluding pharmaceutical funds) having low allocation to the sector. The company remains optimistic about the growth of the pharmaceutical industry by 2025, driven by macroeconomic factors and the demand from major categories [9] - In the innovative drug sector, there is a shift from quantity logic to quality logic, focusing on differentiated domestic and international pipelines. The company suggests paying more attention to products and companies that can ultimately realize profits [9] - In the medical device sector, there is a noticeable recovery in bidding volumes for imaging equipment, and the home medical device market is expected to benefit from subsidy policies. The company highlights the potential for import substitution and growth in the orthopedic sector post-collection [9] - The innovation chain (CXO + life sciences services) is expected to see a rebound in overseas investment and a bottoming out in domestic investment, with a potential return to high growth by 2025 [9] - The pharmaceutical industry is anticipated to enter a new growth cycle, with a focus on specialty raw materials and the expiration of patents leading to new growth opportunities [9] Industry and Company Events - The company highlights the innovative layout of traditional Chinese medicine enterprises, with several products in clinical II and III phases, including those targeting chronic insomnia and primary acute gouty arthritis [29][30] - Yunnan Baiyao has several drugs in various clinical stages, including those for prostate cancer and other conditions, indicating a robust pipeline [16][19] - The company emphasizes the importance of the blood products sector, which is expected to see significant growth due to relaxed approval processes and increased production capacity [14] - The innovative drug pipeline of Yiling Pharmaceutical focuses on cardiovascular, respiratory, and endocrine diseases, with multiple drugs in clinical trials [20][21]