Core Insights - Zhejiang Shouxiangu Pharmaceutical Co., Ltd. has initiated a strategic partnership with Beijing Hejun Consulting to enhance its growth strategy focusing on "performance + market value" over the next five years [1][2] Group 1: Strategic Goals and Framework - The collaboration aims to establish a new competitive advantage for sustainable high-quality development through systematic top-level design and precise breakthroughs in key battles [1] - Hejun Consulting will provide comprehensive consulting services covering strategic insights, planning, and execution to support Shouxiangu's strategic objectives [1][2] - The partnership reflects Shouxiangu's commitment to long-term growth and its proactive approach to navigating industry cycles [1] Group 2: Company Background and Market Context - Shouxiangu has a century-long heritage and is recognized as the "first brand of organic traditional Chinese medicine," achieving multiple industry milestones in the fields of Ganoderma and Dendrobium [2] - The company has established a full industry chain quality control model and is a recipient of the National Science and Technology Progress Award, contributing to various national and international standards [2] - The traditional Chinese medicine industry is currently experiencing significant growth opportunities, alongside challenges such as intensified market competition and evolving consumer demands [2] Group 3: Implementation and Action Plans - Hejun Consulting will focus on Shouxiangu's "15th Five-Year Plan" by conducting internal and external insights and designing business models to ensure effective execution of the strategic plan [2][3] - The strategy will translate into five key actions: creating billion-level "big products," breaking into "big clients," upgrading "strong brands," building a "strong organization," and enhancing "strong capital" value [2] - The partnership aims to refine Shouxiangu's strategic thinking and execution capabilities, preparing the company for transformative changes and revitalizing its next century of operations [3]

| 债券代码：113660 | 债券简称：寿 22 | 转债 | | | --- | --- | --- | --- | | 证券代码：603896 | 证券简称：寿仙谷 | | 公告编号：2025-067 | 浙江寿仙谷医药股份有限公司 关于"寿 22 转债"付息公告 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： 浙江寿仙谷医药股份有限公司（以下简称"公司"、"本公司"）于 2022 年 11 月 17 日发行的可转换公司债券（以下简称"可转债"或"寿 22 转债"）将于 2025 年 11 月 17 日开始支付 2024 年 11 月 17 日至 2025 年 11 月 16 日期间（以下简称 "本年度"）的利息。根据本公司《公开发行可转换公司债券募集说明书》（以下 简称"《募集说明书》"）有关条款的规定，现将有关事项公告如下： 一、可转债发行上市概况 1、债券简称：寿 22 转债 2、债券代码：113660 3、证券种类：可转换为公司 A 股股票的可转换公司债券 4、面值和发行价格：本次发行的可转换公司 ...

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 | | | 会议召开时间：2025 年 11 月 18 日（星期二）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 ： https://roadshow.sseinfo.com/） 会议召开方式：视频录播结合网络互动，公司通过文字直播方式回复 投资者提问。 投资者可于 2025 年 11 月 11 日（星期二）至 11 月 17 日（星期一）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮 箱 sxg@sxgoo.com 进行提问。公司将在说明会上对投资者普遍关注的 问题进行回答。 关于召开 2025 年第三季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： 浙江寿仙谷医药股份有限公司（以下简称"公司"）于 2025 年 10 月 29 日发 布公司 2025 年第三季度报告，为便于广大投资者更全面深入地了解公司 202 ...

Core Viewpoint - The stock of Zhejiang Shouxiangu Pharmaceutical Co., Ltd. has shown fluctuations, with a recent increase of 2.03% on November 7, 2023, despite a year-to-date decline of 1.58% [1][2]. Financial Performance - For the period from January to September 2025, the company reported a revenue of 430 million yuan, representing a year-on-year decrease of 8.88%. The net profit attributable to shareholders was 76.34 million yuan, down 35.67% compared to the previous year [2]. - Cumulative cash dividends since the company's A-share listing amount to 436 million yuan, with 218 million yuan distributed over the past three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders decreased by 4.31% to 22,700, while the average circulating shares per person increased by 4.51% to 8,727 shares [2]. - The eighth largest circulating shareholder is Rongtong Health Industry Flexible Allocation Mixed A/B, holding 1.2823 million shares, an increase of 82,300 shares from the previous period [3]. Market Activity - On November 7, 2023, the stock price reached 20.61 yuan per share, with a trading volume of 23.39 million yuan and a turnover rate of 0.58%. The total market capitalization stood at 4.086 billion yuan [1]. - The net inflow of main funds was 2.3019 million yuan, with large orders accounting for 21.12% of purchases and 11.28% of sales [1]. Business Overview - The company, established on March 3, 1997, and listed on May 10, 2017, specializes in the breeding, cultivation, processing, and sales of precious Chinese medicinal materials, including Ganoderma lucidum and Dendrobium officinale [1]. - The revenue composition includes 71.92% from Ganoderma spore powder products, 15.57% from Dendrobium products, and 10.88% from other sources [1]. Industry Classification - Shouxiangu is classified under the pharmaceutical and biological industry, specifically in the traditional Chinese medicine sector [1]. The company is associated with concepts such as traditional Chinese medicine, cancer treatment, industrial hemp, pharmaceutical e-commerce, and digital economy [1].

Core Viewpoint - The company is actively developing derivative products and has launched items like Shouxiangu Iron Skin Pomelo Juice and Eight Treasure Porridge, indicating a focus on product development and market entry in the fast-moving consumer goods (FMCG) sector [1]. Group 1 - The company has established a joint venture with Shen Jiangang, former sales general manager of Wahaha, to explore opportunities in the FMCG market, aiming for a combination of research and market application [1]. - The company has been continuously engaged in the development of derivative products as a form of technical validation and product reserve [1]. Group 2 - An investor raised concerns about the lack of marketing and advertising for the newly launched products, comparing them to successful beverage brands that heavily invest in advertising [3]. - The investor suggested that the company should consider hiring marketing professionals from successful brands like Nongfu Spring to enhance its marketing efforts [3].

Core Viewpoint - The company has established a joint venture with former Wahaha sales general manager Shen Jiangang to expand into the fast-moving consumer goods market, leveraging its research capabilities and professional marketing team [1]. Group 1: Business Development - The joint venture, named Hangzhou Shouxian Valley Food Co., Ltd., is controlled by the company and aims to develop new products such as Ganoderma coffee and traditional Chinese herbal teas to attract younger consumers [1]. - Recent product launches include Iron Skin Dendrobium pomelo juice and Iron Skin Dendrobium congee, indicating a focus on diversifying product offerings [1]. Group 2: Strategic Initiatives - The company is committed to expanding its upstream and downstream industry presence and is actively seeking suitable acquisition targets [1]. - There is a suggestion from investors for the company to establish a beverage division with a professional team and distribution system to enhance its commitment to the beverage market [3].

Core Viewpoint - The company has established a joint venture with former Wahaha sales general manager Shen Jiangang to expand into the fast-moving consumer goods market, leveraging its research capabilities and professional marketing team [1] Group 1: Joint Venture and Product Development - The joint venture, named Hangzhou Shouxian Valley Food Co., Ltd., is controlled by the company and aims to develop new products [1] - Recent product launches include Iron Skin Dendrobium Pomelo Juice and Iron Skin Dendrobium Shouxian Porridge, with plans to introduce additional products such as Ganoderma Coffee and traditional Chinese herbal teas [1] Group 2: Target Market and Strategy - The company is focusing on appealing to younger consumers by expanding its product offerings to cover young consumption scenarios [1] - In addition to developing new products, the company is actively seeking suitable acquisition targets to extend its upstream and downstream industry reach [1]

Core Viewpoint - Shouxiangu is a leading enterprise in the domestic Lingzhi and Dendrobium candidum industry, with significant investment value due to its full industry chain advantages and unique wall-removal technology [1] Group 1: Business Performance - In Q3 2025, Shouxiangu reported revenue of 430 million yuan, ranking 58th among 69 companies in the industry, while the industry leader, Baiyunshan, had revenue of 61.606 billion yuan [2] - The net profit for the same period was 76.3462 million yuan, placing the company 38th in the industry, with the top performer, Yunnan Baiyao, achieving a net profit of 4.789 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, Shouxiangu's debt-to-asset ratio was 26.69%, lower than the industry average of 32.81%, indicating strong solvency [3] - The gross profit margin for Q3 2025 was 79.06%, which is higher than the industry average of 52.44%, reflecting strong profitability [3] Group 3: Executive Compensation - The chairman, Li Mingyan, received a salary of 813,200 yuan in 2024, a decrease of 4,800 yuan from 2023 [4] - The general manager, Li Zhiyu, earned 398,800 yuan in 2024, down 12,000 yuan from the previous year [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 4.31% to 22,700, while the average number of circulating A-shares held per shareholder increased by 4.51% to 8,727.44 [5] - The top ten circulating shareholders included Rongtong Health Industry Flexible Allocation Mixed A/B, which increased its holdings by 82,300 shares [5] Group 5: Future Outlook - Internet channel performance showed a year-on-year growth of 15.14% in H1 2025, with expectations for revenue growth from 2025 to 2027 projected at 656 million, 711 million, and 777 million yuan, respectively [5] - The company is actively exploring channel diversification and has seen positive sales in provincial markets during July and August 2025 [6]

Core Viewpoint - Zhejiang Shouxiangu Pharmaceutical Co., Ltd. reported a revenue increase of 8.51% year-on-year for Q3 2025, demonstrating resilience in a challenging consumer market [1][2] Financial Performance - The company achieved a revenue of 130 million yuan in Q3 2025, with a net cash flow from operating activities of 20.94 million yuan, reflecting a 51.24% increase year-on-year [1] - Net profit attributable to shareholders decreased due to increased R&D investments [1] Business Strategy - The company is focusing on "marketing-driven enterprise" strategies, enhancing marketing channels, brand building, and digital marketing innovations [2] - Shouxiangu is expanding its market presence through a dual-channel approach, combining specialty store systems with traditional pharmacy channels [1][2] Product Development - The company has optimized its product matrix, launching new products such as Shouxiangu Blue and Shouxiangu Red, which cater to modern consumer trends [1][2] - Shouxiangu has established a multi-category matrix for health food products, including new beverages and solid drinks, positioning this segment as a key growth area [2] R&D Investment - R&D expenses reached 42.09 million yuan in the first three quarters, marking a 32.32% increase year-on-year, supporting the development of innovative products [3] - The company has initiated 92 research projects, including 56 collaborative projects with academic institutions, enhancing its competitive edge in the market [3] Industry Outlook - The market for health food products, particularly those derived from traditional Chinese medicine, is expected to grow due to rising health awareness and the emergence of younger consumer demographics [2][3]

Core Viewpoint - Shouxiangu (603896.SH) reported a decline in institutional ownership in its Q3 2025 report, with a total of 3 institutional investors holding 59.204 million shares, representing 29.86% of the total share capital, a decrease of 0.98 percentage points from the previous quarter [1] Institutional Ownership - As of October 28, 2025, three institutional investors disclosed their holdings in Shouxiangu, with a combined ownership of 59.204 million shares, accounting for 29.86% of the total share capital [1] - The institutional ownership percentage decreased by 0.98 percentage points compared to the previous quarter [1] Public Fund Holdings - One public fund, Rongtong Health Industry Flexible Allocation Mixed A/B, increased its holdings in the current period, contributing to a slight rise in the overall public fund ownership [1] - A total of 28 public funds that were previously disclosed did not report their holdings this quarter, including notable funds such as Dongfanghong Zhiyuan Three-Year Holding Mixed and Huatai-PineBridge Healthcare Mixed [1]