Core Viewpoint - Kangchen Pharmaceutical's stock has shown significant growth this year, with a year-to-date increase of 155.22%, indicating strong market performance and investor interest [1][2]. Group 1: Stock Performance - On September 17, Kangchen Pharmaceutical's stock price decreased by 2.04%, closing at 58.50 CNY per share, with a trading volume of 165 million CNY and a turnover rate of 1.76% [1]. - The company's total market capitalization is 9.322 billion CNY [1]. - Year-to-date, the stock has risen by 155.22%, with a 12.13% increase over the last five trading days, an 8.35% increase over the last 20 days, and an 81.96% increase over the last 60 days [1]. Group 2: Financial Performance - For the first half of 2025, Kangchen Pharmaceutical reported a revenue of 461 million CNY, representing a year-on-year growth of 13.79% [2]. - The net profit attributable to shareholders for the same period was 91.046 million CNY, reflecting a year-on-year increase of 14.95% [2]. Group 3: Shareholder and Institutional Holdings - As of June 30, 2025, the number of shareholders decreased by 10.82% to 9,970, while the average circulating shares per person increased by 12.14% to 15,771 shares [2]. - The company has distributed a total of 437 million CNY in dividends since its A-share listing, with 175 million CNY distributed over the past three years [3]. - Notable institutional shareholders include Penghua Medical Technology Stock A, which increased its holdings by 35.46% to 1.3944 million shares, and new entrants like E Fund Healthcare Industry Mixed A and CITIC Securities Medical Reform A [3].

证券日报网讯 9月16日晚间，康辰药业发布关于公司2023年限制性股票激励计划首次授予第二个限售期 解除限售暨上市公告称，本次股票上市类型为股权激励股份；股票认购方式为网下，本次股票上市流通 总数为796，000股。本次股票上市流通日期为2025年9月22日。 （文章来源：证券日报） ...

一、公司 2023 年限制性股票激励计划（简称 "本激励计划"）实施情况 （一）股权激励计划已履行的程序 证券代码：603590 证券简称：康辰药业 公告编号：临 2025-053 北京康辰药业股份有限公司 关于公司 2023 年限制性股票激励计划首次授予 第二个限售期解除限售暨上市公告 本次股票上市类型为股权激励股份；股票认购方式为网下，上市股数为 796,000股。 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、准确性和完整性依法承担法律责任。 本次股票上市流通总数为796,000股。 重要内容提示： 本次股票上市流通日期为2025 年 9 月 22 日。 8、公司于 2024 年 9 月 29 日，公司召开第四届董事会第十二次会议和第四届 监事会第十次会议，于 2024 年 10 月 29 日召开 2024 年第二次临时股东大会，审 议通过《关于回购注销部分激励对象已获授但尚未解除限售的限制性股票及调整 回购价格的议案》。 1、2023 年 7 月 31 日，公司召开第四届董事会第四次会议、第四届监事会第 三次会议，审议通过《关于公司<2023 年 ...

北京国枫律师事务所 Grandway Law Offices 北京市东城区建国门内大街 26 号新闻大厦 7 层、8 层 邮编: 100005 电话（Tel） 010-88004488/66090088 传真（Fax): 010-66090016 北京国枫律师事务所 关于北京康辰药业股份有限公司 2023 年限制性股票激励计划首次授予部分 关于北京康辰药业股份有限公司 2023 年限制性股票激励计划首次授予部分 第二个解除限售期、预留授予部分第一个解除限售期 解除限售条件成就及回购注销事项的 法律意见书 国枫律证字[2023]AN138-7 号 GRANDWAY 北京国枫律师事务所 第二个解除限售期、预留授予部分第一个解除限售期 解除限售条件成就及回购注销事项的 法律意见书 国枫律证字[2023] AN138-7号 致:北京康辰药业股份有限公司 根据本所与康辰药业签署的《律师服务协议书》,本所接受康辰药业的委托,担 任康辰药业本次股权激励计划的特聘专项法律顾问,并已出具了《北京国枫律师事 务所关于北京康辰药业股份有限公司 2023 年限制性股票激励计划(草案)的法律意 见书》《北京国枫律师事务所关于北京康辰药 ...

Core Insights - Kangchen Pharmaceutical's stock price increased by 2.02% on September 12, reaching 54.15 CNY per share, with a total market capitalization of 8.629 billion CNY [1] - The company has seen a year-to-date stock price increase of 136.25%, but has experienced a decline of 4.88% over the last five trading days [1] Financial Performance - For the first half of 2025, Kangchen Pharmaceutical reported a revenue of 461 million CNY, representing a year-on-year growth of 13.79% [2] - The net profit attributable to shareholders for the same period was 91.046 million CNY, reflecting a year-on-year increase of 14.95% [2] Shareholder Information - As of June 30, 2025, the number of shareholders decreased by 10.82% to 9,970, while the average number of circulating shares per person increased by 12.14% to 15,771 shares [2] - The company has distributed a total of 437 million CNY in dividends since its A-share listing, with 175 million CNY distributed over the past three years [3] Institutional Holdings - As of June 30, 2025, notable institutional shareholders include Penghua Medical Technology Stock A, which increased its holdings by 354,600 shares, and new entrants such as E Fund Healthcare Industry Mixed A and CITIC Jiantou Medical Reform A [3]

Market Overview - The biopharmaceutical sector experienced a decline of 0.7% on September 10, with Kangchen Pharmaceutical leading the drop [1] - The Shanghai Composite Index closed at 3812.22, up 0.13%, while the Shenzhen Component Index closed at 12557.68, up 0.38% [1] Stock Performance - Notable gainers in the biopharmaceutical sector included: - Baipusais (301080) with a closing price of 60.80, up 7.04% [1] - Aopumai (688293) with a closing price of 52.54, up 3.02% [1] - ST Weiming (002581) with a closing price of 7.83, up 1.56% [1] - Significant decliners included: - Kangchen Pharmaceutical (603590) with a closing price of 52.17, down 5.06% [2] - Wo Wu Biological (300357) with a closing price of 31.59, down 4.45% [2] - Aidi Pharmaceutical (688488) with a closing price of 15.68, down 3.80% [2] Capital Flow - The biopharmaceutical sector saw a net outflow of 444 million yuan from institutional investors, while retail investors contributed a net inflow of 269 million yuan [2] - The capital flow for individual stocks showed: - Kangtai Biological (300601) had a net inflow of 31.13 million yuan from institutional investors [3] - Junshi Biological (688180) experienced a net outflow of 12.11 million yuan from retail investors [3] - Wanzhe Co. (000534) had a net inflow of 14.46 million yuan from institutional investors [3]

Core Viewpoint - Kangchen Pharmaceutical (603590.SH) announced a share reduction plan by its controlling shareholder Liu Jianhua due to personal funding needs, intending to reduce up to 4,780,693 shares, which is no more than 3% of the total shares [1][2]. Summary by Relevant Sections Share Reduction Plan - Liu Jianhua plans to reduce his holdings through centralized bidding and block trading methods, with a total reduction not exceeding 4,780,693 shares [1][2]. - The reduction will occur within three months after a 15 trading day period following the announcement, excluding any legally prohibited reduction periods [1]. - The maximum number of shares that can be reduced via centralized bidding is 1% of the total shares within any consecutive 90-day period, while block trading can account for up to 2% [1][2]. Financial Implications - Based on the closing price of 56.93 yuan on September 5, the total amount from the planned reduction is approximately 272 million yuan [2]. Company Background - Kangchen Pharmaceutical was listed on the Shanghai Stock Exchange on August 27, 2018, with an initial issuance of 40 million shares, representing 25% of the total shares post-IPO [3]. - The company raised a total of 973.6 million yuan, with a net amount of 891.43 million yuan intended for various projects, including innovative drug research and production capacity expansion [3].

Summary of Key Points Core Viewpoint - On September 5, Guizhou Moutai disclosed its shareholding increase, while 24 listed companies announced shareholding reductions, indicating a mixed sentiment in the market regarding stock performance and investor confidence [1][2]. Group 1: Shareholding Increases - Guizhou Moutai's controlling shareholder, Moutai Group, received a commitment letter for a loan of up to 2.7 billion yuan from Agricultural Bank [2]. Group 2: Shareholding Reductions - A total of 24 companies reported shareholding reductions, including: - Aohai Technology: Shareholder plans to reduce holdings by up to 7 million shares [2]. - Ruihu Mould: Shareholder plans to reduce up to 3% of company shares [2]. - Guanghua Technology: Some executives plan to reduce a total of up to 477.81 thousand shares [2]. - Kaipu Detection: Vice President plans to reduce company shares [2]. - Liren Technology: Controlling shareholder plans to reduce up to 3% of shares [2]. - Tonghuashun: Controlling shareholder plans to reduce a total of up to 0.26% of shares [2]. - Kexin Innovation Source: One of the actual controllers plans to reduce up to 141.5 thousand shares [2]. - Other companies such as Feima International, Changjiang Materials, and others also reported various plans for share reductions [2].

Key Points - China Petroleum & Chemical Corporation (Sinopec) announced a cash dividend of RMB 0.088 per share, totaling RMB 10.662 billion [4] - Guokai Microelectronics is progressing with a share issuance and cash payment to acquire 94.366% of the equity in Zhongxin Integrated Circuit (Ningbo) Co., Ltd. [5][6] - Phoenix Shipping's Vice General Manager Zhao Qiuling resigned due to work adjustments, while Wang Guozheng was appointed as the new financial director [7] - Guokai Co., Ltd. changed its stock abbreviation to Guokai Electronics, effective September 11, 2025 [8] - Xinhua Pharmaceutical's Vice General Manager Zheng Zhonghui resigned for personal reasons, holding 397,600 shares [9] - Uni-President's controlling shareholder's equity structure change was completed, transferring shares from the Ministry of Finance to Central Huijin Investment [10] - ST New Power may face delisting risk due to a negative audit opinion on its internal controls [11] - Huachuang Yuxin announced that 1.87% of its shares held by Shanghai Shiran Industrial Co., Ltd. will be auctioned [12][13] - Zhengbang Technology's subsidiary was accepted for reorganization by the court due to financial difficulties [14] - China Shipbuilding Defense's General Manager Chen Liping resigned due to work changes [15] - ST Lingnan and its former controlling shareholder are under investigation for information disclosure violations [16] - Hikvision's chairman proposed a mid-term dividend of RMB 4 per 10 shares, amounting to RMB 3.666 billion [17] - Huada Jiutian's shareholder plans to transfer 2.64% of the company's shares [18] - Poly Developments reported a signing amount of RMB 18.015 billion in August, a year-on-year decrease of 18.54% [19] - Muyuan Foods reported a revenue of RMB 11.85 billion from selling 7.001 million pigs in August, a year-on-year decrease of 12.30% [20] - Dongrui Co., Ltd. reported a revenue of RMB 160 million from selling 94,800 pigs in August, a month-on-month decrease of 5.48% [21] - Ankai Bus reported a cumulative production increase of 68.06% year-on-year [22] - Kweichow Moutai's controlling shareholder received a loan commitment of up to RMB 2.7 billion for stock repurchase [23] - Chengda Pharmaceutical's major shareholder plans to reduce its stake by 7.27% [24][25] - Kangchen Pharmaceutical's controlling shareholder plans to reduce its stake by up to 3% [26] - Koweil plans to reduce its stake by up to 2.34% [27] - Funeng Technology's shareholders plan to reduce their stake by up to 2% [28] - United Water's shareholder plans to reduce its stake by 3% [29] - Huayin Power's shareholder plans to reduce its stake by 1% [30] - Tianji Co., Ltd. reported a reduction of 0.61% in its controlling shareholder's stake [31] - Tonghuashun's controlling shareholder plans to reduce its stake by up to 138,310 shares [32] - JA Solar has not yet started its share repurchase plan [33] - Beite Technology plans to raise no more than RMB 300 million through a private placement [34] - Aerospace Hongtu signed a strategic cooperation agreement with Pakistan worth RMB 2.9 billion, which is still in preliminary stages [35][36] - Guangqi Technology signed contracts for mass production of metamaterials worth RMB 1.278 billion [37]

Core Viewpoint - Kangchen Pharmaceutical (603590) announced that its controlling shareholder, Liu Jianhua, plans to reduce his stake in the company due to personal funding needs, with a total reduction not exceeding 4.78 million shares, which is 3% of the company's total shares [1] Group 1 - The announcement was made on the evening of September 5 [1] - The reduction will occur through centralized bidding and block trading methods [1] - The total number of shares Liu Jianhua intends to sell is capped at 4.78 million [1]