| 债券代码：113660 | 债券简称：寿 转债 | | --- | --- | | | 22 | | 证券代码：603896 | 证券简称：寿仙谷 公告编号：2025-064 | 根据《上海证券交易所股票上市规则》等有关法律法规的规定和《浙江寿仙 谷医药股份有限公司公开发行可转换公司债券募集说明书》的约定，"寿 22 转债" 转股期自 2023 年 5 月 23 日至 2028 年 11 月 16 日止（如遇法定节假日或休息日延 至其后的第 1 个工作日；顺延期间付息款项不另计息）。"寿 22 转债"的初始转 股价格为 38.08 元/股；因实施公司 2022 年度权益分派，"寿 22 转债"转股价格 自 2023 年 7 月 4 日由 38.08 元/股调整为 37.65 元/股；因实施公司 2023 年度权益 分派，"寿 22 转债"转股价格自 2024 年 6 月 20 日由 37.65 元/股调整为 37.27 元 /股；因公司发生回购专用证券账户股份注销相关事宜，自 2024 年 7 月 8 日，"寿 22 转债"转股价格由 37.27 元/股调整为 37.11 元/股；因实施公司 2024 年 ...

Investment Rating - The industry investment rating is maintained at "Overweight" [2] Core Viewpoints - The initiation of the real-world comprehensive value evaluation pilot work by the National Medical Insurance Administration is expected to enhance the clinical evaluation system for traditional Chinese medicine (TCM) [8][9][10] - The TCM sector has shown a relative performance decline compared to the broader pharmaceutical sector, with a 1.95% drop last week [4][14] - The TCM sector's current Price-to-Earnings (PE) ratio is 27.38X, reflecting a slight decrease, while the Price-to-Book (PB) ratio stands at 2.32X [6] Market Performance - The TCM index closed at 6449.62 points, down 1.95% last week, while the overall pharmaceutical sector fell by 2.2% [4][14] - The performance of individual companies within the TCM sector varied, with notable gainers including Fangsheng Pharmaceutical and Tianmu Pharmaceutical, while companies like Zhongsheng Pharmaceutical and Zhendong Pharmaceutical lagged [5][20][22] Valuation Metrics - The TCM sector's PE (ttm) is at 27.38X, down 0.54X week-on-week, with a one-year range of 24.72X to 30.26X [6] - The PB (lf) is recorded at 2.32X, also showing a slight decrease, with a one-year range of 2.17X to 2.65X [6] Supply Chain Insights - The demand for TCM materials has increased, particularly for gift-giving purposes, leading to a slight rise in the price index [7] - The overall price index for TCM materials was 237.22 points, reflecting a 0.4% increase from the previous week [7] Investment Recommendations - The report suggests focusing on three main investment themes: price governance, consumption recovery, and state-owned enterprise reform [11][12] - Specific investment targets include companies with strong R&D capabilities and unique products, as well as those less affected by centralized procurement [11][12]

Core Viewpoint - The company has successfully completed the re-registration of its "Shouxiangu Brand Ganoderma Spore Oil Soft Capsules," ensuring stable production and sales, while aiming for product transformation and upgrading in the traditional Chinese medicine sector [1][14]. Group 1: Company Performance - From 2017 to 2022, the company's total revenue increased from 370 million to 829 million, with net profit rising from 89 million to 278 million [3]. - However, in 2024, the company experienced a revenue decline of 11.81% to 692 million and a net profit drop of 31.34% to 175 million [3][6]. - In the first half of 2025, the company reported a revenue of 300 million, down 16.51%, and a net profit of 66 million, down 33.99% [10]. Group 2: Product Structure and Strategy - The sales revenue from Ganoderma spore powder products accounted for 70.87%, 69.27%, and 65.75% of the company's main business income from 2022 to 2024, indicating a reliance on a single product line [1]. - The company is focusing on diversifying its product offerings while maintaining its core business, with plans to enhance research and development of rare traditional Chinese medicinal materials [1][2]. - The company has initiated marketing reforms and established a national distributor system to improve sales performance [11]. Group 3: Market Outlook - The company anticipates that Ganoderma spore powder could become the leading product in the health supplement market, surpassing other products like Cordyceps and bird's nest [7]. - The company aims to reach a scale of 10 billion by 2035, despite recent setbacks in growth [7].

Core Points - Zhejiang Shouxiangu Pharmaceutical Co., Ltd. announced that its wholly-owned subsidiary, Jinhua Shouxiangu Pharmaceutical Co., Ltd., has completed the re-registration of its health food product, "Shouxiangu Brand Ganoderma Spore Oil Soft Capsules," and received the registration certificate from the State Administration for Market Regulation [1][2][3] - The successful re-registration ensures the normal production and sales of the product, playing a crucial role in stabilizing the company's product system [1] - The company will continue to adhere to its established plans, focusing on its core business, leveraging existing industry advantages, and targeting cutting-edge technology in traditional Chinese medicine [1] - The company aims to conduct in-depth research and development on precious traditional Chinese medicinal materials such as Ganoderma, Dendrobium, and Saffron, to achieve product transformation and upgrade, thereby strengthening its core business [1]

Core Viewpoint - The company emphasizes its commitment to innovation and product efficacy enhancement across the entire industry chain, focusing on traditional and modern practices in its operations [1] Group 1: Product Innovation - The company has developed a unique wall-breaking technology that removes the shell of Ganoderma lucidum spore powder, resulting in over tenfold increases in the content of effective components [1] - The absorption rates of different effective components have improved by 4 to 50 times due to this new technology [1] Group 2: Research and Development - The company is conducting research on the combination of wall-broken Ganoderma lucidum spore powder with anti-tumor drugs, with some results already published in academic papers [1]

Group 1 - Dongxing Medical plans to acquire 90% equity of Wuhan Yijiaobao for cash, which is expected to constitute a major asset restructuring [1] - Fosun Pharma's subsidiary plans to transfer 100% equity of Shanghai Cloning, with a transaction value of up to 1.256 billion yuan [1] Group 2 - *ST Songfa's subsidiary signed a shipbuilding contract worth approximately 400-600 million USD for four VLCCs, expected delivery between late 2026 and mid-2027 [3] - Qibin Group obtained financing support of up to 90 million yuan for share repurchase [4] Group 3 - Shapuaisi's shareholder plans to reduce holdings by up to 3% of the company's total shares [5] - *ST Kaixin intends to use up to 310 million yuan for cash management in safe and liquid financial products [6] Group 4 - Junchen Technology's shareholders plan to transfer 2.5% of the company's shares due to personal funding needs [7] - Jingliang Holdings received an administrative regulatory measure from Hainan Securities Regulatory Bureau for improper revenue recognition involving 299 million yuan [7] Group 5 - Tongcheng Holdings received a cash dividend of 24.6643 million yuan from Changsha Bank [9] - Shenyang Chemical appointed Chen Liguo as the new general manager [10] Group 6 - Huaguang Huaneng signed a contract for a 160 million yuan waste heat boiler project [15] - Shuxian Valley's subsidiary completed the re-registration of a health food product [16] Group 7 - Xuanta Pharmaceutical's new specification for a diabetes treatment drug was approved [17] - Panlong Pharmaceutical's application for a pain relief gel patch was accepted by the drug regulatory authority [18] Group 8 - Zhiguang Electric's subsidiary won a procurement contract worth 164 million yuan for a storage system [19] - Chitianhua's production facility resumed operations after maintenance [20] Group 9 - Haitong Development's application for a specific A-share issuance was accepted by the Shanghai Stock Exchange, aiming to raise 210 million yuan [20] - Risheng Technology's shareholders plan to transfer 4.02% of the company's shares [33] Group 10 - Pingmei Shares' controlling shareholder plans a strategic restructuring with Henan Energy Group [35] - Shenghui Integration's controlling shareholder committed not to reduce shareholdings for 12 months [37] Group 11 - Agricultural Bank and Bank of China will no longer establish supervisory boards, with their functions transferred to the audit committees [39][40] - Dongfang Yuhong's subsidiary signed a contract for a seawater pipeline project worth 2.524 billion USD [40][41] Group 12 - Ganfeng Lithium plans to introduce investors for a capital increase of up to 2.5 billion yuan [50] - Hanyu Pharmaceutical intends to raise up to 968 million yuan for various projects [51]

| 证券代码：603896 | 证券简称：寿仙谷 | | | 公告编号：2025-063 | | --- | --- | --- | --- | --- | | 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董事会 2025 年 9 月 27 日 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。 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"寿仙谷牌灵芝孢子油软胶囊"产品完成了国产保健食品再 注册工作，并获得国家市场监督管理总局发放的国产保健食品注册证书。具体情 况如下： | 产品名称 | 寿仙谷牌灵芝孢子油软胶囊 | | --- | --- | | 保健功能 | 本品经动物实验评价，具有有助于增强免疫力的保健功能 | | 注册号 | 国食健注 G20200107 | | 有效期至 | 年 月 日 2030 08 25 | | 注册人 | 金华寿仙谷药业有限公司 | | 注册人地址 | 浙江省金华市武义县壶山街道商城路 号 10 | | ...

Core Viewpoint - The company has successfully completed the re-registration of its health food product, "Shouxiangu Brand Ganoderma Spore Oil Soft Capsules," and received the registration certificate from the National Market Supervision Administration, indicating its compliance with regulatory standards [1] Group 1 - The product has undergone animal testing and has been evaluated to have health benefits that may help enhance immunity [1] - The registration number for the product is Guo Shi Jian Zhu G20200107, and it is valid until August 25, 2030 [1]

Core Viewpoint - The company is launching a shareholder reward activity to express gratitude to shareholders during the Mid-Autumn Festival, aiming to enhance shareholder engagement and understanding of the company's value [1][5]. Group 1: Activity Details - The activity will take place from September 23, 2025, to October 22, 2025, and shareholders who do not participate within this period will forfeit their rights [1]. - Eligible shareholders include those registered with the China Securities Depository and Clearing Corporation as of September 12, 2025, with individual participation limited to natural persons and corporate shareholders allowed to designate up to five representatives [2]. - During the activity, shareholders can purchase specific products at exclusive discounted prices, with a limit of one purchase per person [3]. Group 2: Participation Process - Natural person shareholders can participate by scanning a QR code for the shareholder reward activity, while corporate representatives must complete identity verification through a separate QR code [4]. - The company provides contact information for inquiries regarding the activity, ensuring shareholders can seek assistance if needed [5]. Group 3: Additional Information - The activity is not classified as a profit distribution and participation is voluntary; shareholders who fail to complete necessary procedures will not have claims against the company [6]. - The company retains the final interpretation rights of the activity, emphasizing fairness and transparency [5].

| 证券代码：603896 | 证券简称：寿仙谷 | | 公告编号：2025-062 | | --- | --- | --- | --- | | 债券代码：113660 | 债券简称：寿 22 | 转债 | | 中秋佳节将至，为建立长效、多样的股东回报机制，更借传统节日之韵传递 感恩心意——感谢广大股东长期以来对浙江寿仙谷医药股份有限公司（以下简称 "公司"或"寿仙谷"）的关心与支持，同时让股东在共话中秋、同品佳节意蕴 的氛围中，更好地了解和体验公司产品，深化对公司内在价值的理解与认识，公 司特开展"寿仙谷 2025 年股东回馈"活动。现将活动内容公告如下： 一、活动时间 2025 年 9 月 23 日 00 时至 2025 年 10 月 22 日 12 时。未在该时段参与活动 的，则视为股东自动放弃参与本次活动的权利。 二、参加活动股东范围 截至 2025 年 9 月 12 日（寿仙谷 2025 年第一次临时股东大会股权登记日） 收市后在中国证券登记结算有限责任公司上海分公司登记在册的公司股东，可 以参与本次活动。自然人股东仅限本人参与，法人股东限指定不超过 5 名（含 5 名）自然人代表。 三、活动内容 ...