证券代码：603669 证券简称：灵康药业 公告编号：2025-060 1、审议并通过《关于变更注册资本、取消监事会并修订<公司章程>的议案》 根据《公司法》《上市公司章程指引》等相关法律、行政法规的规定，本次 换届公司不再设置监事会，监事会的职权由董事会审计委员会行使，《灵康药业 集团股份有限公司监事会议事规则》等监事会相关制度相应废止。 灵康药业集团股份有限公司 第四届监事会第二十一次会议决议公告 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个别及连带责任。 一、 监事会会议召开情况 灵康药业集团股份有限公司（以下简称"公司"）第四届监事会第二十一次 会议通知于 2025 年 9 月 17 日以电话、电子邮件等形式发出，会议于 2025 年 9 月 22 日在浙江灵康药业有限公司会议室以现场结合通讯方式召开。会议由监事 会主席陈彦先生召集并主持，会议应出席 3 人，实际出席 3 人。本次会议参与表 决人数及召集、召开程序符合《公司法》和《公司章程》的有关规定，会议形成 的决议合法有效。 二、监事会会议审议情况 经出席会议的监事讨论 ...

证券代码：603669 证券简称：灵康药业 公告编号：2025-059 2、提名陶小刚先生为第五届董事会非独立董事候选人 第四届董事会第三十六次会议决议公告 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个别及连带责任。 一、董事会会议召开情况 灵康药业集团股份有限公司 灵康药业集团股份有限公司（以下简称"公司"）第四届董事会第三十六次 会议通知于 2025 年 9 月 17 日以电话、电子邮件等形式发出，会议于 2025 年 9 月 22 日在浙江灵康药业有限公司会议室以现场结合通讯方式召开。会议由董事 长陶灵萍召集并主持，应出席本次会议的董事 7 人，实际出席本次会议的董事 7 人。公司监事、高级管理人员列席了会议。本次会议的召集、召开和表决程序符 合有关法律、法规和《公司章程》的规定，会议形成的决议合法有效。 二、董事会会议审议情况 （一）审议通过《关于提名公司第五届董事会非独立董事的议案》 鉴于公司第四届董事会任期已届满，依据《公司法》《上海证券交易所股票 上市规则》及《公司章程》等相关规定，董事会提名委员会对董事候选人任职资 ...

Core Viewpoint - Lingkang Pharmaceutical announced the convening of its 2025 second extraordinary general meeting of shareholders, reflecting ongoing corporate governance and strategic planning efforts [1] Company Summary - Lingkang Pharmaceutical's revenue composition for the year 2024 is as follows: 84.62% from pharmaceuticals, 12.19% from pharmaceutical distribution, 2.7% from other businesses, and 0.48% from hospital sales and distribution [1] - As of the report, Lingkang Pharmaceutical has a market capitalization of 4.1 billion yuan [1]

证券代码：603669 证券简称：灵康药业 公告编号：2025-058 灵康药业集团股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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个别及连带责任。 重要内容提示： （https://roadshow.cnstock.com/） 会议召开方式：网络文字互动 投资者可于 2025 年 9 月 26 日 17:30 前通过传真、电话、邮件等形式将需要 了解的情况和关心的问题提供给公司，公司将会在本次说明会上对投资者普遍关 注的问题进行回答。 灵康药业集团股份有限公司（以下简称"公司"）已于 2025 年 8 月 23 日在 上海证券交易所网站（www.sse.com.cn）及指定信息披露媒体披露了《2025 年 半年度报告》。为便于广大投资者更加全面深入了解公司经营情况，公司将通过 网络平台在线交流的方式召开 2025 年半年度业绩说明会（以下简称"说明会"）， 就投资者关心的问题进行交流。 一、说明会类型 本次业绩说明会以网络文字互动方式召开，公司将针对 2025 年半年度业绩 和 ...

Group 1 - The latest stock price of Lingkang Pharmaceutical is 6.29 yuan, with an increase of 0.03 yuan compared to the previous trading day [1] - The stock reached a maximum of 6.43 yuan and a minimum of 6.21 yuan during the trading session, with a total trading volume of 670,976 hands and a transaction amount of 422 million yuan [1] - The company operates in the chemical pharmaceutical industry and is registered in the Tibet Autonomous Region, focusing on drug production and sales [1] Group 2 - The total market capitalization of the company is 4.537 billion yuan, with the circulating market value equal to the total market value [1] - On August 26, the stock experienced a rapid pullback, with a decline of over 2% within five minutes and a transaction amount of 102 million yuan at that time [1] - The net outflow of main funds on that day was 37.299 million yuan, accounting for 0.82% of the circulating market value, while the overall main funds showed a net inflow of 18.1962 million yuan over the past five trading days [1]

Group 1 - The chemical pharmaceutical sector increased by 2.53% on August 25, with Shutaishen leading the gains [1] - The Shanghai Composite Index closed at 3883.56, up 1.51%, while the Shenzhen Component Index closed at 12441.07, up 2.26% [1] - Notable gainers in the chemical pharmaceutical sector included: - Buzoushen (300204) with a closing price of 61.00, up 16.17% and a trading volume of 445,500 shares [1] - Haichen Pharmaceutical (300584) with a closing price of 58.95, up 13.61% and a trading volume of 217,200 shares [1] - Changshan Pharmaceutical (300255) with a closing price of 53.25, up 12.84% and a trading volume of 683,900 shares [1] Group 2 - The chemical pharmaceutical sector experienced a net outflow of 426 million yuan from institutional investors, while retail investors saw a net inflow of 509 million yuan [2] - The top stocks by net inflow from retail investors included: - Anglikang (002940) with a net inflow of 163 million yuan, representing 22.87% of its trading volume [3] - Haichen Pharmaceutical (300584) with a net inflow of 132 million yuan, representing 10.90% of its trading volume [3] - Lingkang Pharmaceutical (603669) with a net inflow of 64.68 million yuan, representing 37.53% of its trading volume [3]

Core Viewpoint - Lingkang Pharmaceutical (603669) reported an increase in revenue and a reduction in losses for the first half of 2025, indicating a positive trend in financial performance despite ongoing challenges [1]. Financial Performance Summary - Total operating revenue reached 172 million yuan, a year-on-year increase of 21.3% [1]. - Net profit attributable to shareholders was -35.73 million yuan, improving by 11.55% year-on-year [1]. - In Q2 2025, operating revenue was 121 million yuan, up 88.01% year-on-year, while net profit attributable to shareholders was -17.11 million yuan, an increase of 29.75% year-on-year [1]. Key Financial Metrics - Gross margin stood at 17.88%, a decrease of 60.33% year-on-year [1]. - Net margin was -20.82%, an improvement of 27.08% year-on-year [1]. - Total expenses (selling, administrative, and financial) amounted to 61.80 million yuan, accounting for 36.01% of revenue, down 39.34% year-on-year [1]. - Earnings per share were -0.05 yuan, reflecting a 16.67% improvement year-on-year [1]. Significant Changes in Financial Items - The decrease in trading financial assets by 57.0% was due to the maturity of financial products [3]. - Prepayments decreased by 91.96% as a result of reduced advance payments for goods [3]. - Accounts receivable increased by 224.22%, indicating a rise in outstanding payments [3]. - Inventory rose by 75.09% due to increased purchases [3]. - The company reported a significant increase in accounts payable by 68.35%, attributed to higher outstanding procurement payments [3]. Cash Flow and Debt Analysis - The net cash flow from operating activities showed a significant decline of 78.86%, primarily due to reduced maturity redemptions of financial products [4]. - Financing activities generated a net cash flow increase of 102.22%, as the company reduced loan repayments [4]. - The company has a historical average of negative operating cash flow, raising concerns about its liquidity and debt management [4].

Core Viewpoint - Lingkang Pharmaceutical (603669) reported an increase in revenue and a reduction in losses for the first half of 2025, indicating a positive trend in financial performance despite challenges in profitability metrics [1] Financial Performance Summary - Total operating revenue reached 172 million yuan, a year-on-year increase of 21.3% [1] - Net profit attributable to shareholders was -35.73 million yuan, improving by 11.55% year-on-year [1] - In Q2 2025, operating revenue was 121 million yuan, showing a significant year-on-year increase of 88.01% [1] - Q2 net profit attributable to shareholders was -17.11 million yuan, an increase of 29.75% year-on-year [1] Key Financial Metrics - Gross margin was 17.88%, a decrease of 60.33% year-on-year [1] - Net margin was -20.82%, an improvement of 27.08% year-on-year [1] - Total selling, administrative, and financial expenses amounted to 61.80 million yuan, accounting for 36.01% of revenue, a decrease of 39.34% year-on-year [1] - Earnings per share were -0.05 yuan, an increase of 16.67% year-on-year [1] Significant Changes in Financial Items - Trading financial assets decreased by 57.0% due to the maturity of financial products [3] - Prepayments decreased by 91.96% due to a reduction in prepaid goods [3] - Accounts receivable increased by 224.22% to 261 million yuan, indicating a significant rise in credit sales [3] - Inventory increased by 75.09% due to higher procurement [3] - Interest-bearing liabilities decreased by 43.17% to 270 million yuan [3] Business Model and Historical Performance - The company relies heavily on a marketing-driven business model, which may indicate vulnerability [4][5] - Historical return on invested capital (ROIC) has been relatively low, with a median of 12.18% since listing [4] - The company has reported negative net profits in three out of nine annual reports since its IPO, suggesting a fragile business model [5]

Financial Performance - The company reported total revenue of 172 million yuan for the first half of 2025 [1] - The net profit attributable to shareholders was -35.73 million yuan [1] - The net cash inflow from operating activities was -38.96 million yuan, a decrease of 757,900 yuan compared to the same period last year [1] Financial Ratios - The latest debt-to-asset ratio is 39.34%, an increase of 0.34 percentage points from the previous quarter and 0.73 percentage points from the same period last year [3] - The latest gross profit margin is 17.88%, a decrease of 10.15 percentage points from the previous quarter and 27.19 percentage points from the same period last year [3] - The latest return on equity (ROE) is -4.87%, a decrease of 0.32 percentage points from the same period last year [3] Earnings and Shareholder Information - The diluted earnings per share are -0.05 yuan [3] - The latest total asset turnover ratio is 0.14 times [3] - The latest inventory turnover ratio is 3.68 times [3] - The number of shareholders is 19,000, with the top ten shareholders holding 451 million shares, accounting for 62.54% of the total share capital [3]

Core Insights - Lingkang Pharmaceutical (603669.SH) released its semi-annual report for 2025 on August 23, 2025, indicating significant institutional investment [1] Group 1 - As of August 22, 2025, there is one institutional investor that disclosed holding shares in Lingkang Pharmaceutical, totaling 340 million shares, which represents 47.09% of the company's total equity [1] - The institutional investor includes Lingkang Holdings Group Co., Ltd., contributing to the overall institutional holding percentage of 47.09%, which remains unchanged [1]