Group 1 - The company will hold a half-year performance briefing on September 12, 2025, from 13:00 to 14:30 [2][4] - The briefing will take place at the Shanghai Stock Exchange Roadshow Center and will combine video recording with online interaction [4][6] - Investors can submit questions from September 5 to September 11, 2025, and the company will address common concerns during the briefing [2][6] Group 2 - Key participants in the briefing include the Chairman, General Manager, Secretary of the Board, Financial Officer, and Independent Directors [5] - Investors can participate online through the Shanghai Stock Exchange Roadshow Center during the scheduled time [6] - After the briefing, investors can view the main content and outcomes on the Shanghai Stock Exchange Roadshow Center website [7]

Core Viewpoint - Shouxiangu plans to hold a half-year performance briefing on September 12, 2025 [1] Company Summary - Shouxiangu (stock code: 603896) announced the date for its 2025 half-year performance briefing [1]

Core Viewpoint - Zhejiang Shouxiangu Pharmaceutical Co., Ltd. will hold a performance briefing for the first half of 2025 on September 12, 2025, to provide investors with insights into the company's operational results and financial status [1][2]. Group 1: Meeting Details - The performance briefing is scheduled for September 12, 2025, from 13:00 to 14:30 [1][2]. - The meeting will be held at the Shanghai Stock Exchange Roadshow Center and will utilize a video recording combined with online interaction [1][3]. - Investors can participate online and submit questions in advance from September 5 to September 11, 2025 [2][3]. Group 2: Participants - Key participants include Chairman Li Mingyan, General Manager Li Zhenyu, and other board members [2]. - Adjustments to the participant list may occur due to special circumstances [2]. Group 3: Investor Participation - Investors can log in to the Shanghai Stock Exchange Roadshow Center to join the briefing and ask questions [2][3]. - Questions can be submitted through the website or via email to the company [2][3]. Group 4: Additional Information - After the briefing, investors can view the meeting's details and main content on the Shanghai Stock Exchange Roadshow Center [4].

公司代码：603896 公司简称：寿仙谷 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 Zhejiang Shouxiangu Pharmaceutical Co., Ltd. （浙江省武义县壶山街道商城路 10 号） 2025 年第一次临时股东大会 会议资料 浙江寿仙谷医药股份有限公司 2025 年第一次临时股东大会会议资料 浙江寿仙谷医药股份有限公司 2025 年第一次临时股东大会会议议程 一、会议召集人：浙江寿仙谷医药股份有限公司董事会 二〇二五年九月十八日 浙江寿仙谷医药股份有限公司 2025 年第一次临时股东大会会议资料 目 录 | 2025 | 年第一次临时股东大会会议议程 2 | | --- | --- | | 2025 | 年第一次临时股东大会会议须知 4 | | | 议案一：关于变更公司注册资本、取消监事会暨修订《公司章程》的议案 6 | | | 议案二：关于修订部分公司治理制度的议案 43 | 1 二、会议召开的日期、时间： 现场会议时间：2025 年 9 月 18 日 14:00 网络投票起止时间：自 2025 年 9 月 18 日至 2025 年 9 月 ...

| | | 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 关于召开 2025 年上半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法律责任。 重要内容提示： 董事长：李明焱 浙江寿仙谷医药股份有限公司（以下简称"公司"）于 2025 年 8 月 28 日发 布公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 2025 年半 年度经营成果、财务状况，公司计划于 2025 年 9 月 12 日（星期五）下午 13:00-14:30 举行 2025 年半年度业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 本次投资者说明会以视频结合网络互动方式召开，公司将针对 2025 年半年 度的经营成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露 允许的范围内就投资者普遍关注的问题进行回答。 会议召开时间：2025 年 9 月 12 日（星期五）下午 13:00-14:30 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 20% relative to the benchmark index within the next six months [7][11]. Core Insights - The company reported a revenue of 300 million yuan for H1 2025, a decrease of 16.51% year-on-year, with a net profit of 66 million yuan, down 33.99% [3]. - Despite the revenue decline, there is a noticeable improvement in the second quarter, with a year-on-year revenue drop of only 6.64%, compared to a 22.68% decline in the first quarter [3]. - The gross margin for H1 2025 was 80.81%, showing a slight increase of 0.43 percentage points, while the net profit margin decreased to 21.88%, down 5.79 percentage points [3]. Financial Performance - The company’s sales expenses ratio for H1 2025 was 44.41%, with management expenses at 15.31% and R&D expenses at 9.93% [4]. - Internet sales showed a positive trend, with revenue from online channels reaching 77 million yuan, an increase of 15.14% [5]. - The company has initiated a marketing reform that has begun to yield results, including strategic partnerships and the establishment of a nationwide distributor network [6]. Revenue and Profit Forecast - Revenue projections for 2025 to 2027 are 656 million, 711 million, and 777 million yuan, respectively, with net profits expected to be 158 million, 178 million, and 206 million yuan [7][9]. - The current price-to-earnings (P/E) ratios for the forecasted years are 27, 24, and 21, indicating a potential for growth as the company expands its market reach [7][9].

Core Viewpoint - The company reported a decline in revenue and net profit for the first half of 2025, but there are signs of potential recovery in the third quarter due to improved sales performance in July [1][2] Financial Performance - In H1 2025, the company achieved revenue of 300 million yuan, a decrease of 16.51% year-on-year, and a net profit attributable to shareholders of 65.56 million yuan, down 33.99% year-on-year [1] - Q2 2025 revenue was 129 million yuan, a decline of 6.64% year-on-year, with a net profit of 7.18 million yuan, down 67.61% year-on-year [1][2] - The company's expense ratio increased, with a total expense ratio of 70.24% in H1 2025, up 12.04 percentage points year-on-year [2] Market and Product Performance - The decline in revenue was primarily attributed to weak consumer demand, although there was a notable improvement in Q2 compared to Q1 [2] - Revenue from Lingzhi spore powder products was 216 million yuan, down 17.79% year-on-year, while revenue from Dendrobium candidum products was 46.66 million yuan, down 24.25% year-on-year [3] - Internet sales showed growth, with revenue of 76.78 million yuan, an increase of 15.14% year-on-year [3] Strategic Initiatives - The company is expanding its market presence through flagship stores and traditional channels, with successful construction of flagship stores in several provinces [3] - A national strategic cooperation agreement was signed with Jiuzhoutong Pharmaceutical to enhance reach to retail pharmacies [3] - The company is focusing on new media channels, particularly influencer live streaming, to attract a younger customer demographic [3] Competitive Advantages - The company’s core competitive advantages include a full industry chain, superior variety breeding, and advanced processing technology for Lingzhi spore powder [4] - The company has established a comprehensive industry chain model and has developed 12 superior varieties, including 4 Lingzhi and 4 Dendrobium varieties [4] - Unique technologies for breaking and purifying Lingzhi spore powder ensure high absorption rates and product safety [4] Future Outlook - Due to slower-than-expected recovery in demand and rising expense ratios, the company has adjusted its revenue and profit forecasts for 2025-2027 [5] - Projected revenues for 2025, 2026, and 2027 are 697 million, 778 million, and 859 million yuan, respectively, with corresponding net profits of 138 million, 172 million, and 205 million yuan [5]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [2] Core Views - The company experienced a decline in revenue and net profit in the first half of 2025, primarily due to weak consumer demand, but there are signs of improvement in the third quarter [5][6] - The company is expanding its new media channels, with a notable performance in the internet segment, which saw a revenue increase of 15.14% year-on-year [6] - The company has established a competitive advantage through a full industry chain, excellent variety selection, and unique processing technologies [7][8] Summary by Sections Financial Performance - In H1 2025, the company achieved revenue of 300 million yuan, a decrease of 16.51% year-on-year, and a net profit of 65.56 million yuan, down 33.99% year-on-year [5] - The Q2 2025 revenue was 129 million yuan, a decline of 6.64% year-on-year, with a net profit of 7.18 million yuan, down 67.61% year-on-year [5] Market Expansion - The company is focusing on expanding its presence in provinces outside of Zhejiang through flagship stores and traditional channels, with positive sales results reported in July and August [6] - The internet channel's revenue growth is attributed to the development of new media channels, particularly influencer live streaming, which has attracted a younger customer base [6] Competitive Advantages - The company has developed a comprehensive industry chain model that ensures product safety and effectiveness, along with a resource library for superior medicinal materials [7][8] - Unique technologies for processing products, such as low-temperature supersonic airflow breaking and purification, enhance product quality and absorption rates [8] Future Projections - The revenue forecasts for 2025-2027 are adjusted to 697.14 million yuan, 777.59 million yuan, and 859.25 million yuan, with expected growth rates of 0.79%, 11.54%, and 10.50% respectively [8]

Core Insights - The company reported a revenue of 300 million yuan and a net profit of 65.5586 million yuan for the first half of 2025, with core products including various forms of Ganoderma lucidum spore powder and Dendrobium candidum products [1] Group 1: Financial Performance - The company's main business revenue composition shows that Ganoderma lucidum spore powder products accounted for 73.11% of total revenue, while Dendrobium candidum products made up 15.83% [1] Group 2: Research and Development - The company has 92 ongoing research projects, including 56 industry-academia-research cooperation projects, and has successfully completed 7 projects [2] - The company received 27 patent applications (including 26 invention patents) and 4 authorized patents, along with 6 software registrations [2] - The core patent for "dewalling Ganoderma lucidum spore powder tablets and their preparation method" won the "China Patent Excellence Award" [2] Group 3: Market Expansion and Brand Development - The company has effectively expanded its channels and brand, replicating successful experiences from Hangzhou to other cities like Ningbo, Shaoxing, Shanghai, and Jiangsu [3] - During the reporting period, the company held its first national招商大会, signing 7 strategic partners and completing agreements with distributors in 5 provinces [3] - The company has enhanced its brand influence through various marketing activities, including the Lingzhi Culture Festival and collaborations with new media platforms [3] Group 4: Industry Position and Future Outlook - The company aims to establish itself as the leading brand in organic national medicine and the global leader in Ganoderma lucidum products [3] - The company is committed to deepening digital transformation and scientific research innovation while continuing to expand its market presence [3]

Group 1 - The company Shouxiangu announced on August 28 that its fifth board meeting was held on August 27, 2025, combining in-person and remote voting methods [1] - The meeting reviewed the proposal regarding the additional expected amount for daily related transactions for the year 2025 [1]