Group 1 - The 18th West China Health Industry Ecological Conference opened in Boao, Hainan, focusing on the theme "Rapid Transformation, Crossing New Cycles," gathering outstanding entrepreneurs, scientists, investors, and experts from various sectors of China's health industry [1] - Dong-E E-Jiao Co., Ltd. (referred to as "Dong-E E-Jiao") participated as a benchmark enterprise, sharing its "1238" strategy, which emphasizes the health supplement industry, embraces new technologies, and explores new models through technological innovation and cultural-industry integration [3] - The launch ceremony of "Qi Heart Gathering Power for a Healthy China - Dong-E E-Jiao & Kangyuan Pharmaceutical Astragalus Essence" took place during the conference, highlighting a collaboration aimed at enhancing the product matrix for energy and blood health [3] Group 2 - The introduction of Dong-E E-Jiao Astragalus Essence is a strategic move to expand business boundaries, responding to diversified and refined health consumption demands, and injecting new vitality into the "National Treasure of Nourishment" brand [5] - Dong-E E-Jiao has established a strategic partnership with Jiuzhoutong to deepen brand collaboration and enhance consumer service experiences through digital marketing innovations [5] - The company aims to continue strengthening technological leadership and developing high-quality products to provide diverse choices for consumers' healthy lifestyles [5]

数据显示，截至2025年7月31日，中证中药指数(930641)前十大权重股分别为云南白药(000538)、片仔癀 (600436)、同仁堂(600085)、东阿阿胶(000423)、华润三九(000999)、白云山(600332)、吉林敖东 (000623)、众生药业(002317)、以岭药业(002603)、佐力药业(300181)，前十大权重股合计占比54.58%。 中药ETF(159647)，场外联接A：016891；联接C：016892；联接I：022881。 以上内容与数据，与有连云立场无关，不构成投资建议。据此操作，风险自担。 截至2025年8月18日 09:54，中证中药指数(930641)强势上涨1.62%，成分股天士力(600535)上涨8.03%， 新天药业(002873)上涨7.01%，达仁堂(600329)上涨6.07%，众生药业(002317)，康缘药业(600557)等个股 跟涨。中药ETF(159647)上涨1.53%，最新价报1.06元。 东吴证券指出，创新药产业已现拐点：现阶段的中国创新药在政策和研发两端都完成了厚积薄发。政策 端，《全链条支持创新药发展实施方案》在支付端、 ...

证券代码：000423 证券简称：东阿阿胶 公告编号：2025-44 关于召开 2025 年半年度业绩说明会的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 重要内容提示： https://eseb.cn/1qEuuYEPszK 或使用微信扫描下方程序码，办理预约报名等手 东阿阿胶股份有限公司 续。名额有限，报满为止。 东阿阿胶股份有限公司（以下简称"公司"）将于 2025 年 8 月 22 日，披露 《2025 年半年度报告》。为便于广大投资者更加全面深入了解公司经营业绩及发 展战略等情况，拟定于 2025 年 8 月 22 日下午，举办 2025 年半年度业绩说明会。 具体内容如下： 一、时间、地点和方式 广大投资者积极参与。 （1）个人投资者，请上传本人身份证，并填写有关信息资料； （2）机构投资者，请上传名片或相关证明照片，并填写有关信息资料； （3）个人及机构投资者，均需签署电子承诺函。 公司将对上述文件进行查验并存档，以备监管机构查阅。 预约报名成功的投资者，将收到短信通知。届时，可于 2025 年 8 月 22 日 下午互动体验活动前 30 ...

证券代码：000423 证券简称：东阿阿胶 公告编号：2025-44 东阿阿胶股份有限公司 关于召开 2025 年半年度业绩说明会的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 重要内容提示： 4．参会报名：投资者可于 2025 年 8 月 20 日（星期三）18:00 前访问网址 https://eseb.cn/1qEuuYEPszK 或使用微信扫描下方程序码，办理预约报名等手 续。名额有限，报满为止。 东阿阿胶股份有限公司（以下简称"公司"）将于 2025 年 8 月 22 日，披露 《2025 年半年度报告》。为便于广大投资者更加全面深入了解公司经营业绩及发 展战略等情况，拟定于 2025 年 8 月 22 日下午，举办 2025 年半年度业绩说明会。 1．会议时间：2025 年 8 月 22 日（星期五）15:30-17:00 2．会议地点：济南喜来登酒店会议室 3．召开方式：现场交流，会前 14:30-15:10 将开展互动体验等活动，欢迎 广大投资者积极参与。 二、出席人员 董事、总裁 孙金妮女士，独立董事 文光伟先生，董事、董事会秘书、副 ...

Core Insights - A total of 38 stocks on the Shanghai and Shenzhen exchanges have experienced net inflows of main funds for five consecutive days or more as of August 14, with Dingyang Technology leading at 10 days of inflow [1][2] - The stock with the highest total net inflow amount is Taicheng Light, which has seen a cumulative net inflow of 843 million yuan over six days [1] - The stock with the highest net inflow ratio relative to trading volume is Dayuan Pump Industry, which has increased by 48.78% over the past five days [1] Summary by Category Stocks with Continuous Net Inflows - Dingyang Technology: 10 days of net inflow, 73 million yuan, 6.82% increase [2] - Chinese Media: 9 days of net inflow, 83 million yuan, 1.20% increase [1][2] - Taicheng Light: 6 days of net inflow, 843 million yuan, 15.94% increase [1] Highest Net Inflow Amounts - Taicheng Light: 843 million yuan over 6 days [1] - Huicheng Environmental Protection: 746 million yuan over 9 days [1] - Huatai Securities: 666 million yuan over 5 days [1] Highest Net Inflow Ratios - Dayuan Pump Industry: 14.72% net inflow ratio, 48.78% increase over 5 days [1] - Huicheng Environmental Protection: 10.16% net inflow ratio, 26.41% increase over 9 days [1] - Huatai Securities: 5.24% net inflow ratio, 7.80% increase over 5 days [1]

金融界消息 截至2025年8月14日收盘，东阿阿胶（000423）报收于50.19元，下跌0.79%，换手率 1.37%，成交量8.84万手，成交金额4.46亿元。 资金流向方面，今日主力资金净流入6062.06万元，占比成交额13.58%。其中，超大单净流入3850.65万 元、占成交额8.63%，大单净流入2211.41万元、占成交额4.95%，中单净流出流出2259.08万元、占成交 额5.06%，小单净流出3802.98万元、占成交额8.52%。 东阿阿胶最新一期业绩显示，截至2025一季报，公司营业总收入17.19亿元、同比增长18.24%，归属净 利润4.25亿元，同比增长20.25%，扣非净利润4.16亿元，同比增长26.69%，流动比率4.377、速动比率 3.978、资产负债率19.17%。 通过天眼查大数据分析，东阿阿胶股份有限公司共对外投资了52家企业，参与招投标项目5000次，知识 产权方面有商标信息822条，专利信息848条，此外企业还拥有行政许可388个。 来源：金融界 天眼查商业履历信息显示，东阿阿胶股份有限公司，成立于1994年，位于聊城市，是一家以从事医药制 造业为主的企业。 ...

Core Viewpoint - The rise of industrial and technological tourism in China reflects the country's manufacturing prowess and innovation, with listed companies leading the development of these tourism projects, which are increasingly focused on asset revitalization, flow conversion, ESG practices, and business model innovation [1][5][7]. Group 1: Industrial and Technological Tourism Trends - Industrial tourism has gained popularity, with factories and industrial parks becoming new attractions for tourists, especially among youth interested in robotics and technology [2][3]. - The tourism landscape now includes a third category of resources that showcases contemporary technological innovations alongside cultural and natural heritage [2]. - Listed companies are at the forefront of this trend, leveraging their advanced technologies and products to enhance industrial tourism experiences [2]. Group 2: Company Initiatives and Developments - Companies like 福瑞达 (Furida) have seen significant increases in visitor numbers, with their beauty technology museum receiving over 5000 visitors during the summer, indicating a strong interest in beauty industry innovations [3]. - 宝钢 (Baosteel) has established the Baosteel Industrial Creative Park, which features various attractions and educational tours, catering to different audience segments [4]. - 福瑞达 aims to attract 100,000 visitors annually to its beauty industrial tourism project, showcasing the high standards of China's beauty industry [3][6]. Group 3: Challenges and Considerations - The development of industrial tourism must balance production safety with visitor experience, ensuring that both operational integrity and tourist engagement are maintained [7][8]. - There is a need for improvement in the presentation of industrial tourism content, expanding the depth and breadth of exhibitions related to manufacturing achievements [7]. - Companies are encouraged to innovate their operational mechanisms to overcome existing limitations in integrating tourism with industrial production [7].

通过天眼查大数据分析，东阿阿胶股份有限公司共对外投资了52家企业，参与招投标项目5000次，知识 产权方面有商标信息822条，专利信息848条，此外企业还拥有行政许可388个。 东阿阿胶最新一期业绩显示，截至2025一季报，公司营业总收入17.19亿元、同比增长18.24%，归属净 利润4.25亿元，同比增长20.25%，扣非净利润4.16亿元，同比增长26.69%，流动比率4.377、速动比率 3.978、资产负债率19.17%。 来源：金融界 金融界消息 截至2025年8月12日收盘，东阿阿胶（000423）报收于50.94元，下跌0.64%，换手率 1.05%，成交量6.76万手，成交金额3.45亿元。 天眼查商业履历信息显示，东阿阿胶股份有限公司，成立于1994年，位于聊城市，是一家以从事医药制 造业为主的企业。企业注册资本64397.6824万人民币，实缴资本20660.5404万人民币。公司法定代表人 为孙金妮。 资金流向方面，今日主力资金净流入1035.23万元，占比成交额3.0%。其中，超大单净流入660.33万 元、占成交额1.91%，大单净流入374.90万元、占成交额1.09%，中单净流 ...

Group 1 - The Chinese medicine ETF (159647) has seen a continuous inflow of funds, totaling 30.03 million yuan over the past five days, with a net inflow of 22.14 million yuan since August [1] - The China Traditional Chinese Medicine Index (930641) has increased by 0.77%, with notable gains from companies such as Kang En Bei (600572) up 5.41% and Zhong Sheng Pharmaceutical (002317) up 4.80% [1] - The release of the "Chinese Atrial Fibrillation Management Guidelines (2025)" recommends the use of Tongluo drugs, specifically the Shen Song Yang Xin capsule, for maintaining sinus rhythm in paroxysmal atrial fibrillation [1] Group 2 - Jiang Hai Securities highlights that the labeling of expiration dates on traditional Chinese medicine pieces enhances product transparency, boosting consumer confidence and potentially expanding the market [2] - The top ten weighted stocks in the China Traditional Chinese Medicine Index account for 54.58% of the index, with major companies including Yunnan Baiyao (000538) and Tong Ren Tang (600085) [2] - The Chinese medicine ETF closely tracks the China Traditional Chinese Medicine Index, which reflects the overall performance of listed companies involved in the production and sale of traditional Chinese medicine [2]

Summary of Key Points from the Conference Call Industry Overview - **Industry**: China Healthcare - **Key Indices Performance**: HSHCI/HSHKBIO indices rose by 0.2% and 0.1% respectively from August 4 to August 8, 2025. SW Healthcare A/H indices moved -0.8% and +2.5%, ranking 31st and 20th among A/H-share sectors [1][1][1]. Company Insights - **Saint Bella**: Initiated coverage with a Buy rating due to its strong position in postpartum care and long-term family care potential, which may be overlooked [1][1][1]. - **Wuxi Bio**: Upgraded to Buy as it is well-positioned as a biologics CDMO amid therapy upgrades from chemotherapy to antibody-drug conjugates (ADC) and from monoclonal to bi/multi-specific candidates [1][1][1]. Subsector Performance - **Medtech**: Outperformed in A shares with a +2.7% increase, likely due to sectoral rotation within healthcare [1][1][1]. - **Biologics**: Outperformed in H shares with a +6.3% increase, primarily driven by small-cap biotechs [1][1][1]. Notable Company Performances - **Innovent**: Reported H125 product sales exceeding RMB 5.2 billion, up more than 35% year-over-year, surpassing estimates of RMB 5.1 billion [3][3][3]. - **3SBio**: Issued new shares to Pfizer worth HK$7.85 million, equating to 1.28% of its total post-IPO equity [3][3][3]. - **Huadong**: Released phase II trial results for HDM1002, showing weight reduction of -4.63%, -6.08%, and -2.88% in different dosage groups after 12 weeks [3][3][3]. Regulatory Developments - **Generics GPO**: The National Joint Procurement Office started demand reporting for the 11th round of national centralized drug procurement, allowing reporting by product name or brand for the first time [2][2][2]. - **Biosimilar VBP**: Initiated by the Anhui Provincial Pharmaceutical Procurement Center for eight monoclonal antibodies [2][2][2]. Investment Recommendations - **Top Picks**: Include Innovent, 3SBio, Wuxi Apptec, and United Imaging among others [1][1][1]. - **Medtech Focus**: Added United Imaging to top picks while retaining Weigao [1][1][1]. Risks and Challenges - **Healthcare Industry Risks**: Include potential price cuts from GPO programs, intensified competition, lower-than-expected innovative drug prices for NRDLs, slower consumption recovery, stricter regulations, and geopolitical tensions impacting operations [35][35][35]. Additional Insights - **Funding Trends**: Biopharma funding in July 2025 showed a year-over-year increase of 133% and a month-over-month increase of 34% [8][8][8]. - **Clinical Trials**: The number of registered clinical trials in China has been on an upward trend, indicating a robust pipeline for future drug development [22][22][22]. This summary encapsulates the key points from the conference call, highlighting the performance of companies within the China healthcare sector, regulatory changes, investment recommendations, and potential risks.