Group 1 - Shengde Xintai won a bid for a thermal power steel pipe project worth approximately 217 million yuan, accounting for 8.15% of its audited revenue for 2024 [1] - High-speed Electric's subsidiary won a project for the Shanghai-Nanjing-Hefei high-speed railway, with a bid amount of 71.76 million yuan [1] - Cangge Mining's subsidiary received a construction permit for a lithium-boron mining project, with a construction area of 106,900 square meters [2] Group 2 - China Electric Power Construction signed a mining transportation project contract in Guinea worth approximately 5.063 billion yuan, with a total duration of about 72 months [3] - Guobang Pharmaceutical's subsidiary completed the registration of an equity investment fund focusing on strategic emerging industries [4] - Deshi Co. obtained two invention patents related to oil and gas field development [5][26] Group 3 - Xue Tian Salt Industry expects a significant decrease in net profit for the first half of 2025, projecting a decline of 76.34% to 80.29% [6] - Rundu Co. received a drug registration certificate for moxifloxacin hydrochloride tablets, used for treating various bacterial infections [7] - China Nuclear Power reported a 15.65% increase in power generation in the first half of the year, with nuclear power generation up by 12.01% [8] Group 4 - Suqian Liansheng obtained two invention patents related to wastewater treatment methods [9] - Boshi Co. signed a 109 million yuan operation and maintenance service contract for solid product packaging [11] - *ST Sailong's subsidiary received a drug registration certificate for torasemide injection, used for various medical conditions [13] Group 5 - North Bay Port reported a 10.95% increase in cargo throughput for the first half of 2025, with container throughput also showing growth [14] - Kaiwei Te expects a revenue increase of 56.17% to 90.87% for the first half of 2025 [15] - Wankai New Materials plans to reduce production and conduct maintenance on 60,000 tons of PET capacity, affecting overall performance [16] Group 6 - Haiwang Bio's HW130 injection successfully completed Phase I clinical trials, showing good safety and tolerability [19] - Zhenai Meijia received a total of 22.8 million yuan in compensation for land acquisition, which will significantly impact its 2025 performance [20] - Changyuan Electric reported a 23.58% decrease in power generation in June, with a notable decline in thermal power generation [21] Group 7 - Shouxiangu's subsidiary completed the registration of two health food products [22] - Kailun Co. announced the resignation of its deputy general manager and board secretary [23] - Xibu Muye reported a 2.15% year-on-year increase in fresh milk production in June [24] Group 8 - Deshi Co. obtained two invention patents related to oil and gas field development [26] - Jingwei Huikai plans to acquire a 12.44% stake in Nuo Si Micro for 149 million yuan [27] - Electric Alloy completed the registration of its subsidiary in Mexico [29] Group 9 - Meinuohua expects a net profit increase of 142.84% to 174.52% for the first half of 2025 [30] - Guizhou Moutai repurchased approximately 3.38 million shares, accounting for 0.2692% of its total share capital [31][32] - Warner Pharmaceutical received approval for the listing application of a raw material drug for treating respiratory diseases [34] Group 10 - Yuan Dong Bio's independent director is under investigation for serious violations [35] - Dash Intelligent signed a contract for a smart project worth 11.88 million yuan [36] - Dayou Energy plans to transfer 586,500 tons of coal production capacity replacement indicators [37] Group 11 - Foton Motor reported a 150.96% increase in new energy vehicle sales in the first half of 2025 [39] - Renfu Pharmaceutical's shareholder plans to increase its stake by 1% to 2% [40] - Zongshen Power expects a net profit increase of 70% to 100% for the first half of 2025 [42] Group 12 - Yingboer plans to sell its wholly-owned subsidiary for 239 million yuan [44] - Changan Automobile reported a 1.59% increase in total vehicle sales in the first half of 2025 [46] - Fulian Precision signed a cooperation framework agreement with Sichuan Development Longmang [48] Group 13 - Nengte Technology plans to repurchase shares worth 300 million to 500 million yuan [50] - Longsoft Technology's controlling shareholder donated 3.43% of the company's shares [51] - Data Port's shareholders plan to reduce their holdings by up to 2% [52]

| 产品名称 | 寿仙云®破壁灵芝孢子粉片 | | --- | --- | | 保健功能 | 有助于增强免疫力 | | 备案号 | 食健备 G202533002008 | | 备案人 | 金华寿仙谷药业有限公司 | | 备案人地址 | 浙江省金华市武义县壶山街道商城路 10 号 | | 备案结论 | 按照《中华人民共和国食品安全法》《保健食品注册与备 | | | 案管理办法》等法律、规章的规定，予以备案。 | 1、寿仙云®破壁灵芝孢子粉片 2、寿仙红®破壁灵芝孢子粉片 | 产品名称 | 寿仙红®破壁灵芝孢子粉片 | | --- | --- | | 保健功能 | 有助于增强免疫力 | | 备案号 | 食健备 G202533002007 | | 证券代码：603896 | 证券简称：寿仙谷 | | | 公告编号：2025-048 | | --- | --- | --- | --- | --- | | 债券代码：113660 | 债券简称：寿 | 22 | 转债 | | 浙江寿仙谷医药股份有限公司 关于全资子公司完成国产保健食品备案的公告 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 ...

Core Viewpoint - The company has successfully completed the domestic health food filing for two products, which will enhance its product line and competitiveness in the health food sector, aligning with its strategic plan in the health industry [1] Group 1 - The company's wholly-owned subsidiary, Jinhua Shouxian Valley Pharmaceutical Co., Ltd., has obtained filing certificates for "Shouxian Cloud Broken Ganoderma Spore Powder Tablets" and "Shouxian Red Broken Ganoderma Spore Powder Tablets" [1] - The successful filing of these products is not expected to have a significant impact on the company's recent production and operations [1] - This development will help to further supplement and improve the company's product categories, enriching its product line [1]

Core Viewpoint - The article highlights the journey of Shouxiangu, a leading company in the Chinese medicinal mushroom industry, under the leadership of Li Mingyan, emphasizing the integration of technology, standards, and digitalization in traditional Chinese medicine for future growth [2][7]. Company Development - Li Mingyan, the founder of Shouxiangu, has transformed the company into the first publicly listed entity in the Chinese lingzhi and dendrobium industry, showcasing over 40 years of research and development [2][4]. - The company has established international standards for traditional Chinese medicine, specifically for lingzhi and dendrobium, which have been adopted in over ten countries, including Japan and Australia [3][4]. Technological Innovation - Shouxiangu has developed a proprietary "four lows and one high" supersonic low-temperature airflow breaking technology, which enhances the extraction of effective components from lingzhi spores [4]. - The company has successfully cultivated 13 valuable medicinal mushroom varieties, including "XianZhi No. 1" and "XianHua No. 2," which have high active ingredient content [4]. Marketing and Branding - Shouxiangu has adopted modern marketing strategies, including sponsoring the Zhejiang swimming team, to enhance brand visibility and appeal to younger demographics [5][6]. - The company is focusing on digital transformation and new retail strategies to adapt to market changes and improve production quality [6]. Future Directions - Li Mingyan has set a vision for Shouxiangu to become a global benchmark in the lingzhi industry by continuously enhancing technological innovation and industry empowerment [7]. - The company is working on a digital platform that integrates IoT, genetic technology, and digital twin concepts to optimize agricultural practices and enhance product quality [6].

Core Viewpoint - The announcement details the conversion results and share changes related to the "Shou 22 Convertible Bonds" issued by Zhejiang Shouxiangu Pharmaceutical Co., Ltd, highlighting the bond's issuance, conversion period, and adjustments to the conversion price due to equity distributions [1][2][3]. Group 1: Bond Issuance and Trading - The company issued 3.98 million convertible bonds with a face value of 100 yuan each, totaling 398 million yuan, approved by the China Securities Regulatory Commission [1]. - The bonds began trading on the Shanghai Stock Exchange on December 12, 2022, under the name "Shou 22 Convertible Bonds" with the code "113660" [1]. Group 2: Conversion Period and Price Adjustments - The conversion period for the bonds is from May 23, 2023, to November 16, 2028, with the initial conversion price set at 38.08 yuan per share [1]. - The conversion price was adjusted to 37.65 yuan per share on July 4, 2023, and will further adjust to 37.27 yuan on June 20, 2024, and to 36.84 yuan on June 6, 2025, due to equity distributions [1][2]. Group 3: Conversion Status - As of June 30, 2025, the total amount converted from the "Shou 22 Convertible Bonds" is 311,000 yuan, representing 0.0781% of the total issuance, resulting in 8,150 shares, which is 0.0041% of the company's total shares before conversion [2][3]. - The amount of unconverted bonds as of June 30, 2025, is 397.689 million yuan, accounting for 99.92% of the total issuance [3][4]. Group 4: Share Capital Changes - The total share capital before the conversion was 198,243,858 shares, which increased to 198,243,911 shares after the conversion of 53 shares [4].

| 证券代码：603896 | 证券简称：寿仙谷 | | --- | --- | | 债券代码：113660 | 债券简称：寿 转债 22 | | | 公告编号：2025-047 | 浙江寿仙谷医药股份有限公司 关于"寿 22 转债"转股结果暨股份变动的公告 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。 "寿 22 转债"转股期自 2023 年 5 月 23 日至 2028 年 11 月 16 日止。自 2023 年 5 月 23 日至 2025 年 6 月 30 日，"寿 22 转债"累计转股金额为 311,000 元，占"寿 22 转债"发行总量的 0.0781%；累计因转股形成的股份数量为 8,150 股，占"寿 22 转债"转股前公司已发行股份总额的 0.0041%。 其中，自 2025 年 4 月 1 日至 2025 年 6 月 30 日期间，"寿 22 转债"累计 转股金额为 2,000 元，占公司可转债发行总量的 0.0005%；累计因转股形成的 股份数量为 53 股，占可转债转股前公司已发行股份总额的 0.0 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative increase in stock price of over 20% compared to the benchmark index within the next six months [6][12]. Core Views - The company is experiencing pressure on its performance due to a challenging consumption environment, with projected revenue for 2024 at 692 million yuan, a decrease of 11.81%, and a net profit of 175 million yuan, down 31.34% [3][6]. - The company is exploring new channels and implementing a distributor reform to embrace new retail strategies, including the "Hundred Cities, Thousand Stores" initiative and the launch of a new commercial model integrating wholesale and retail [4][5]. - The introduction of new products, such as health supplements, is aimed at enhancing the product matrix and aligning with the company's strategy in the health industry [5][6]. Financial Summary - Revenue projections for 2025-2027 are 730 million, 790 million, and 862 million yuan, respectively, with net profits expected to be 191 million, 213 million, and 239 million yuan [6][10]. - The company’s earnings per share (EPS) are forecasted to increase from 0.88 yuan in 2024 to 1.21 yuan by 2027, reflecting a positive growth trajectory [10][11]. - The price-to-earnings (P/E) ratio is expected to decrease from 24.30 in 2024 to 17.72 by 2027, indicating potential valuation improvement [10][11].

| 证券代码：603896 | 证券简称：寿仙谷 | | 公告编号：2025-046 | | --- | --- | --- | --- | | 债券代码：113660 | 债券简称：寿 22 | 转债 | | 特此公告。 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。 浙江寿仙谷医药股份有限公司董事会 近日，浙江寿仙谷医药股份有限公司（以下简称"公司"）全资子公司金华 寿仙谷药业有限公司的"寿仙云®破壁灵芝孢子粉"产品完成了国产保健食品备 案工作，并获得浙江省市场监督管理局发放的国产保健食品备案凭证。具体情况 如下： 2025 年 6 月 25 日 浙江寿仙谷医药股份有限公司 | 产品名称 | 寿仙云®破壁灵芝孢子粉 | | --- | --- | | 保健功能 | 有助于增强免疫力 | | 备案号 | 食健备 G202533001883 | | 备案人 | 金华寿仙谷药业有限公司 | | 备案人地址 | 浙江省金华市武义县壶山街道商城路 10 号 | | 备案结论 | 按照《中华人民共和国食品安全法》《保健食品注册与备 | ...

Core Viewpoint - The credit rating for Zhejiang Shouxiangu Pharmaceutical Co., Ltd. remains at AA- with a stable outlook, reflecting the company's strong brand advantage and stable cash flow from its full industry chain development model [4][6]. Company Overview - The company primarily engages in the breeding, planting, processing, and sales of traditional Chinese medicinal materials, particularly focusing on Ganoderma lucidum and Dendrobium [6][9]. - As of 2024, the company's total assets are reported at 31.16 billion, with equity attributable to shareholders at 23.53 billion [4][5]. Financial Performance - In 2024, the company's operating revenue decreased by 11.81% year-on-year, with the main products, Ganoderma lucidum spore powder and Dendrobium, accounting for over 80% of total revenue [16][18]. - The gross profit margin for the company in 2024 was 82.62%, slightly down from 84.43% in the previous year, primarily due to rising raw material costs and increased depreciation [16][18]. Debt and Investment - The company has issued bonds with a total scale of 3.98 billion, with the proceeds intended for the construction of health food projects and a research and testing center [8][9]. - A change in the use of funds has been noted, with a shift from the original project to a smart park upgrade project, which aims to enhance operational efficiency through automation [9]. Market Position and Competition - The company maintains a competitive edge through its full industry chain model and established brand recognition, although it faces challenges from a concentrated product range and regional sales [6][18]. - The sales distribution remains heavily concentrated in Zhejiang Province, with over 60% of revenue generated from this region, indicating a high regional sales concentration risk [18][19]. Industry Environment - The pharmaceutical manufacturing industry is expected to stabilize and improve in the medium to long term, driven by increasing healthcare demand and ongoing policy adjustments [12][13]. - The market for traditional Chinese medicine, particularly in the context of an aging population and rising health awareness, is projected to grow, although the industry faces challenges from price reductions and regulatory pressures [12][14].

Core Viewpoint - Zhejiang Shouxiangu Pharmaceutical Co., Ltd. maintains its credit rating of "AA-" for both its corporate and convertible bonds, with a stable outlook as per the latest tracking report by Zhongzheng Pengyuan [1][2]. Group 1: Credit Rating Details - The previous credit rating for the company and its convertible bonds was "AA-", with a stable outlook, issued on June 25, 2024 [1][2]. - The latest tracking credit rating report was issued on June 20, 2025, confirming the ratings remain unchanged [2]. Group 2: Regulatory Compliance - The company conducted the credit rating in accordance with the "Measures for the Issuance and Trading of Corporate Bonds" and the "Listing Rules for Corporate Bonds on the Shanghai Stock Exchange" [1].