Company Overview - ST HuLuWa, established on June 22, 2005, and listed on the Shanghai Stock Exchange on July 10, 2020, is a high-tech enterprise engaged in the research, production, and sales of pharmaceuticals, with a strong competitive edge in the pediatric medicine sector [1] Financial Performance - For Q3 2025, ST HuLuWa reported revenue of 683 million yuan, ranking 49th out of 69 in the industry. The industry leader, Baiyunshan, achieved revenue of 61.606 billion yuan, while the industry average was 3.755 billion yuan [2] - The company's net profit for the same period was -7.5472 million yuan, placing it 56th in the industry. The top performer, Yunnan Baiyao, reported a net profit of 4.789 billion yuan, with the industry average at 447 million yuan [2] Profitability and Debt - As of Q3 2025, ST HuLuWa's debt-to-asset ratio was 73.72%, an increase from 68.11% year-on-year, significantly higher than the industry average of 32.81% [3] - The gross profit margin for Q3 2025 was 40.43%, down from 50.06% year-on-year and below the industry average of 52.44% [3] Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 13.59% to 27,300, while the average number of circulating A-shares held per account increased by 15.73% to 14,700 [5] Executive Compensation - The chairman, Liu Jingping, received a salary of 1.4 million yuan in 2024, a decrease of 6,000 yuan from 2023 [4]

Group 1 - The company HuLuWa reported a significant decline in revenue for the first three quarters, with total revenue of 682,719,912.56 yuan, representing a year-on-year decrease of 33.88% [1] - The net profit attributable to shareholders of the listed company was -11,213,924.18 yuan, indicating a loss [1] Group 2 - Among the top ten circulating shareholders, new entrants include Su Mei, Chen Kehua, Fang Bo, and Wu Jun [2]

会议召开方式：上证路演中心网络互动 证券代码：605199 证券简称：ST 葫芦娃 公告编号：2025-083 海南葫芦娃药业集团股份有限公司 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： 会议召开时间：2025 年 11 月 12 日 （星期三） 15:00-16:00 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/） 投资者可于 2025 年 11 月 05 日 （星期三） 至 11 月 11 日 （星期二）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 huluwa@huluwayaoy e.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。 海南葫芦娃药业集团股份有限公司（以下简称"公司"）已于 2025 年 10 月 31 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 2025 年第三季 度经营成果、财务状况，公司 ...

特此公告。 海南葫芦娃药业集团股份有限公司董事会 2025 年 10 月 31 日 证券代码：605199 证券简称：ST 葫芦娃 公告编号：2025-082 海南葫芦娃药业集团股份有限公司 关于聘任副总经理的公告 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。 海南葫芦娃药业集团股份有限公司（以下简称"公司"）于 2025 年 10 月 30 日召开公司第四届董事会 2025 年第二次临时会议，审议通过了《关于聘任副总 经理的议案》，按照《公司法》《公司章程》等有关规定，经公司总经理提名，董 事会提名委员会资格审查，董事会同意聘任刘全国先生担任公司副总经理，任期 与第四届董事会任期一致。 1 附： 刘全国，男，1966 年出生，中国国籍，无境外永久居留权，本科学历，执业 药师、正高级制药工程师，海南省自由贸易港 D 类人才。曾获海南省科技进步奖二 等奖、中国专利优秀奖，海南省专利金奖等。1990 年 9 月至 1996 年 5 月，担任阜 新中药厂实验室主任；1996 年 5 月至 1999 年 9 月，担任海南回元堂药业有 ...

海南葫芦娃药业集团股份有限公司 第四届董事会 2025 年第二次临时会议决议公告 证券代码：605199 证券简称：ST 葫芦娃 公告编号：2025-081 （五）本次董事会会议由董事长刘景萍女士主持，公司全体高级管理人员列席 会议。 二、董事会会议审议情况 （一）审议通过了《关于公司 2025 年第三季度报告的议案》 具体内容详见公司于上海证券交易所网站（www.sse.com.cn）同日披露的《海 南葫芦娃药业集团股份有限公司 2025 年第三季度报告》。 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。 一、董事会会议召开情况 （一）海南葫芦娃药业集团股份有限公司（以下简称"公司"）第四届董事会 2025 年第二次临时会议的召开符合《公司法》《公司章程》和《董事会议事规则》的有关 规定，会议合法有效。 （二）会议通知于 2025 年 10 月 24 日以通讯方式发出。 （三）会议于 2025 年 10 月 30 日在海南省海口市秀英区安读一路 30 号公司会 议室以现场结合通讯方式召开。 （四）公司董事会会议应出席董事 7 ...

关于公司股票被实施其他风险警示相关事项的进展公告 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： ● 海南葫芦娃药业集团股份有限公司（以下简称"公司"）2024年度内部控制被 出具否定意见审计报告，根据《上海证券交易所股票上市规则》第9.8.1条规定，公司 股票于2025年4月30日起被实施其他风险警示。 证券代码：605199 证券简称：ST 葫芦娃 公告编号：2025-084 海南葫芦娃药业集团股份有限公司 防控、财务管理等业务场景潜在的风险进行重点复查，发现研发流程不规范的情况，已 责令研发部在规定的期限内补充与规范。 2、公司持续组织开展内部控制及各项管理制度的内部自查，进一步强化内控管理。 通过内部协同监督，对公司近期新签订的合同进行了风险排查，严格规范合同签订前的 立项与审批流程。针对研发合同，实行专项立项管理。业务部门签订合同前需提交立项 报告，由财务、法务、研发等多部门组成联合评估小组，对项目必要性、预算合理性及 合规性进行综合评估。在决策审批环节，依据合同金额及性质，分别提交总经理办公会、 董 ...

Financial Performance - Total revenue for the third quarter was CNY 175,049,000, a decrease of 49.6% compared to CNY 347,069,480 in the same period last year[4] - Net profit attributable to shareholders was CNY -13,623,704.84, representing a decline of 158.6% from CNY 5,133,834.9 year-on-year[5] - Basic earnings per share were CNY -0.04, down from CNY 0.01 in the same quarter last year, reflecting a decrease of 400%[5] - Total operating revenue for the first three quarters of 2025 was CNY 682,719,912.56, a decrease of 33.9% compared to CNY 1,032,589,239.77 in the same period of 2024[24] - Net profit for the first three quarters of 2025 was a loss of CNY 7,547,153.80, compared to a loss of CNY 113,303,466.75 in the same period of 2024[25] - The total comprehensive income attributable to the parent company was -11,213,924.18 RMB, compared to -117,548,926.75 RMB in the previous period[26] - The company reported a basic and diluted earnings per share of -0.03 RMB, compared to -0.29 RMB in the previous period[26] Cash Flow and Assets - Operating cash flow for the period was CNY 44,336,879.79, a significant improvement from CNY -53,787,151 in the previous year[5] - The company's cash and cash equivalents decreased to CNY 110,738,401.92 as of September 30, 2025, from CNY 254,293,484.89 at the end of 2024, representing a decline of 56.5%[20] - The net cash flow from operating activities for the first three quarters of 2025 was 58,490,902.46 RMB, a significant improvement from -204,905,985.53 RMB in the same period of 2024[28] - Cash inflow from operating activities totaled 632,257,945.39 RMB, while cash outflow was 573,767,042.93 RMB, resulting in a positive net cash flow[29] - The ending cash and cash equivalents balance was 93,792,931.85 RMB, down from 135,834,728.73 RMB in the previous year[30] - Total assets at the end of the reporting period were CNY 2,799,785,053.43, a decrease of 5.56% from CNY 2,964,546,337.76 at the end of the previous year[5] - Total liabilities decreased to CNY 2,064,133,355.83 as of September 30, 2025, down 7.1% from CNY 2,221,262,004.67 at the end of 2024[22] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 27,294[13] - The largest shareholder, Hainan Huluwa Investment Development Co., Ltd., holds 167,079,000 shares, accounting for 41.76% of total shares[13] - The second-largest shareholder, Zhejiang Fuwang Juder Health Development Co., Ltd., holds 57,519,000 shares, representing 14.38%[14] Operational Adjustments and Compliance - The company is undergoing adjustments due to prior accounting errors as mandated by regulatory authorities, affecting previously reported financial data[6] - The company has implemented a special rectification team to address issues raised in the internal control audit report, led by the chairman[16] - The company is enhancing its internal control management by conducting comprehensive self-inspections and reinforcing contract risk prevention measures[16] - Financial data review processes have been established to ensure compliance with accounting standards and improve financial data management[17] - The company plans to strengthen communication with regulatory authorities to enhance compliance management and risk prevention capabilities[17] - The company will continue to optimize its governance structure and improve the quality of information disclosure[17] Revenue and Cost Trends - Operating revenue decreased by 33.88% year-on-year due to cyclical market demand adjustments and industry policy impacts[10] - Total operating costs for the first three quarters of 2025 were CNY 697,724,259.32, down 41.2% from CNY 1,186,983,292.11 in the previous year[24] - The company reported a significant reduction in research and development expenses to CNY 20,326,657.01 in the first three quarters of 2025, down 85.1% from CNY 136,399,436.30 in the same period of 2024[25] - The company incurred cash payments for purchasing goods and services totaling 189,063,254.82 RMB, significantly lower than 482,310,778.21 RMB in the same period last year[29] Non-Operating Income - Non-operating income for the period included government subsidies amounting to CNY 13,502,190.71, contributing positively to the financial results[8] - The company reported a total of CNY 13,426,521.53 in non-recurring gains and losses for the year-to-date, indicating a significant impact on overall profitability[9] - The company received tax refunds amounting to 185,533.02 RMB, a decrease from 2,308,531.23 RMB in the previous year[29]

Group 1 - The company has received approval from the National Medical Products Administration for the clinical trial of "Children's Danqing Shuangjie Granules" aimed at treating pediatric influenza with a specific syndrome [1][4] - The drug is classified as a Category 1.1 innovative traditional Chinese medicine, focusing on clearing heat and detoxifying, and is intended for children with influenza presenting with both exterior and interior heat symptoms [2][3] - Following the approval, the drug must undergo clinical trials and receive further evaluation from the National Medical Products Administration before it can be manufactured and marketed [4] Group 2 - The clinical trial application for "Children's Danqing Shuangjie Granules" was accepted on August 11, 2025, and is in compliance with the relevant drug registration requirements [1][2] - The drug's core efficacy includes clearing heat, relieving fire, and detoxifying, specifically targeting the symptoms associated with pediatric influenza [2] - The company will fulfill its information disclosure obligations based on the progress of the drug development [5]

证券代码：605199 证券简称：ST 葫芦娃 公告编号：2025-080 海南葫芦娃药业集团股份有限公司 关于获得药物临床试验批准通知书的公告 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。 海南葫芦娃药业集团股份有限公司（以下简称"公司"）近日收 到国家药品监督管理局（以下简称"国家药监局"）核准签发的关于 小儿胆青双解颗粒的《药物临床试验批准通知书》，同意本品开展临 床试验。现将有关情况公告如下： 一、药品基本情况 药物名称：小儿胆青双解颗粒 申请事项：临床试验 受理号：CXZL2500065 本次申请进行临床试验的"小儿胆青双解颗粒"是针对流行性感 冒的病理转归，经多年实践反复验证，总结筛选出表里双解、清热解 毒的有效方剂。核心功效为清热透表，泻火解毒，表里双解。用于儿 童流行性感冒表里俱热证。 按照《中药注册分类及申报资料要求》（2020 年第 68 号），本品 属于中药创新药 1.1 类。 三、产品上市尚需履行的审批程序 根据我国药品注册相关的法律法规要求，药物在取得药物临床试 验批准通知书后，尚需开展临床试验并经 ...

Core Viewpoint - ST HuLuWa (605199.SH) has received approval from the National Medical Products Administration for clinical trials of its pediatric medicine, Xiaoer Danqing Shuangjie Granules, indicating progress in the development of innovative traditional Chinese medicine for treating children's influenza [1] Company Summary - The company has announced the receipt of a clinical trial approval notice for Xiaoer Danqing Shuangjie Granules, which is classified as a Category 1.1 innovative traditional Chinese medicine [1] - The core efficacy of the drug is to clear heat and relieve toxicity, addressing both exterior and interior symptoms associated with pediatric influenza [1]