启迪药业集团股份公司 2025 年第三季度报告 □是 否 证券代码：000590 证券简称：启迪药业 公告编号：2025-050 启迪药业集团股份公司 2025 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第三季度财务会计报告是否经过审计 1 启迪药业集团股份公司 2025 年第三季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 本报告期比上年同 | 年初至报告期末 | 年初至报告期末比 | | --- | --- | --- | --- | --- | | | | 期增减 | | 上年同期增减 | | 营业收入（元） | 82,378,322.27 | 18.40% | 224, ...

Core Viewpoint - Tsinghua Unigroup (启迪药业) announced that its controlling shareholder, Hunan Sailoxian Management Consulting Partnership, has pledged a portion of its shares for financing guarantees, with 43.96 million shares pledged, accounting for 75% of its holdings [1] Financial Performance - For the first half of 2025, Tsinghua Unigroup's revenue composition was as follows: Traditional Chinese medicine and health products accounted for 94.02%, while other products made up 5.98% [1] - The current market capitalization of Tsinghua Unigroup is 3 billion yuan [1]

Market Overview - On October 23, A-shares saw all three major indices close higher, with the Shanghai Composite Index up 0.22% at 3922.41 points, the Shenzhen Component Index up 0.22% at 13025.45 points, and the ChiNext Index up 0.09% at 3062.16 points [1] - The total trading volume in the Shanghai and Shenzhen markets was 16,439 billion, a slight decrease of 239 billion from October 22 [1] - The market experienced a volatile session, initially declining due to the impact of overnight U.S. stock market losses, with the Shanghai Composite Index hitting a low of around 3877 points before rebounding in the afternoon [1] Sector Performance - The coal sector showed strong performance, driven by three main factors: ongoing restrictions on coal production since July, increased demand due to significant temperature drops across the country, and a shift of funds towards defensive dividend sectors during the third-quarter earnings reporting period [1] - Other sectors that performed well included energy metals, cultural media, shipping ports, chemical fiber, and diversified finance, while engineering machinery, non-metallic materials, and biopharmaceuticals saw declines [1] State-Owned Enterprise Restructuring - The state-owned enterprise restructuring concept gained traction following announcements from Hubei Province and Shenzhen City aimed at enhancing the management and quality of state-owned assets [2] - Shenzhen's action plan aims for a total market capitalization of listed companies to exceed 20 trillion by the end of 2027, with the goal of nurturing 20 companies with a market value of over 100 billion [2] Individual Stock Highlights - Xiang stock performance was decent, with 82 out of 147 stocks rising, including a notable surge in Qidi Pharmaceutical, which hit the daily limit [3] - Qidi Pharmaceutical's recent developments include a change in control to Hunan Sailoxian, which acquired a 24.47% stake for 1 billion, and a strategic partnership with Hengyang Medicine to enhance the quality of traditional Chinese medicine [3]

证券代码：000590 证券简称：启迪药业 公告编号：2025-047 启迪药业集团股份公司 | 已质押股份情 | 未质押股份情 | 况 | 况 | | | | | | | | | | | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 本次质 | 股 | 本 | 次 | 质 | 押 | 已 | 质 | 押 | 押前质 | 占其所 | 占公司 | 占 | 已 | 未 | 质 | 押 | 占 | 未 | | | | | | | | | | | | 东 | 持股数量 | 持股比 | 后 | 质 | 押 | 股 | 股 | 份 | 限 | 押股份 | 持股份 | 总股本 | 质 | 押 | 股 | 份 | 限 | 质 | 押 | 名 | （股） | 例 ...

Market Overview - On October 17, the traditional Chinese medicine sector declined by 0.99%, with Tianmu Pharmaceutical leading the drop [1] - The Shanghai Composite Index closed at 3839.76, down 1.95%, while the Shenzhen Component Index closed at 12688.94, down 3.04% [1] Stock Performance - Notable gainers in the traditional Chinese medicine sector included: - Weikang Pharmaceutical: closed at 23.39, up 3.54% with a trading volume of 84,100 shares and a turnover of 26.66 million [1] - Enwei Pharmaceutical: closed at 31.40, up 2.45% with a trading volume of 24,700 shares and a turnover of 78.62 million [1] - Zhongsheng Pharmaceutical: closed at 17.45, up 2.11% with a trading volume of 706,300 shares and a turnover of 1.244 billion [1] - Major decliners included: - Tianmu Pharmaceutical: closed at 18.40, down 5.30% with a trading volume of 120,100 shares and a turnover of 22 million [2] - Jilin Aodong: closed at 20.23, down 3.39% with a trading volume of 226,500 shares and a turnover of 465 million [2] Capital Flow - The traditional Chinese medicine sector experienced a net outflow of 736 million from institutional investors, while retail investors saw a net inflow of 582 million [2][3] - Key stocks with significant capital flow included: - Zhongsheng Pharmaceutical: net inflow of 72.58 million from institutional investors, but a net outflow of 131 million from retail investors [3] - Tianmu Pharmaceutical: net inflow of 19.99 million from institutional investors, with net outflows from both retail and speculative investors [3]

Core Viewpoint - Qidi Pharmaceutical's stock price has shown significant volatility, with a year-to-date increase of 60.90%, but recent declines in the short term indicate potential market fluctuations [1][2]. Company Overview - Qidi Pharmaceutical Group Co., Ltd. is located in Hunan Province, established on November 12, 1993, and listed on January 19, 1996. The company specializes in the research and development of traditional Chinese medicine and Western pharmaceutical formulations [2]. - The main business revenue composition includes 79.43% from traditional Chinese medicine products, 14.28% from Guangdong Xiantong products, and 0.31% from pharmaceutical company products [2]. Financial Performance - For the first half of 2025, Qidi Pharmaceutical reported operating revenue of 142 million yuan, a year-on-year decrease of 2.87%. The net profit attributable to the parent company was -17.17 million yuan, reflecting a year-on-year increase of 26.61% [2]. - The company has cumulatively distributed 97.39 million yuan in dividends since its A-share listing, with no dividends paid in the last three years [3]. Stock Market Activity - As of October 16, Qidi Pharmaceutical's stock price was 11.44 yuan per share, with a market capitalization of 2.74 billion yuan. The stock experienced a net inflow of 1.06 million yuan from main funds [1]. - The stock has appeared on the "Dragon and Tiger List" three times this year, with the most recent instance on July 16, where it recorded a net buy of -44.09 million yuan [1].

Group 1: Control Changes in Companies - Qidi Pharmaceutical's control has changed from Qidi Kefu to Hunan Sailoxian, with Jiang Xin as the actual controller, marking the sixth name change since its listing [1][2][3] - Mengke Pharmaceutical will undergo a control change as it issues 164 million shares to Hainan Whale Pharmaceutical, making Hainan Whale the controlling shareholder with a 20% stake [1][6] Group 2: Financial and Operational Implications - The control change at Qidi Pharmaceutical was triggered by a financial dispute leading to the auction of 58.607 million shares for 1.007 billion yuan [2] - Mengke Pharmaceutical plans to raise up to 1.033 billion yuan through a private placement to enhance its financial strength and support R&D efforts [6][7] - Mengke Pharmaceutical's sales revenue growth rates for 2022-2023 and 2023-2024 were 88.31% and 43.51%, respectively, with a 10.26% increase in the first half of 2025 [6][7] Group 3: Strategic Directions and Future Plans - Qidi Pharmaceutical aims to leverage new shareholder resources for business focus and operational stability amid industry changes [1] - Mengke Pharmaceutical intends to enhance its commercial efficiency and production capabilities through external partnerships and funding [7][8] - The strategic agreement signed between Hengyang Municipal Government and Hengchang Pharmaceutical may further drive operational development for Qidi Pharmaceutical [5]

Policy Developments - The National Healthcare Security Administration (NHSA) has announced a public solicitation for information on innovative medical consumables, including brain-machine interface technologies and surgical robots, to streamline the coding process for these products [2] Drug and Device Approvals - Fosun Pharma's subsidiary, Fosun Kary, has had its drug registration application for Brexucabtagene Autoleucel accepted by the National Medical Products Administration, aimed at treating relapsed or refractory B-cell acute lymphoblastic leukemia in adults [4] - Novogene's subsidiary has received medical device registration certificates for several neurodiagnostic reagents, which can assist in diagnosing Alzheimer's and Parkinson's diseases [5] Capital Market Activities - Hengrui Medicine has signed a licensing agreement for its innovative drug SHR-A1811, receiving an upfront payment of $18 million and potential milestone payments up to $1.093 billion, which will enhance its overseas market presence [7] - Yong'an Pharmaceutical plans to acquire a 49.20% stake in its subsidiary Ling'an Technology for 27 million yuan, aiming to strengthen control and reduce management costs [8] Industry Events - The NHSA hosted discussions with domestic and international investment institutions, emphasizing support for the high-quality development of innovative drugs and the implementation of policies to facilitate this growth [10] - Illumina has announced partnerships with several global pharmaceutical companies to develop companion diagnostics based on its TruSight Oncology genomic testing platform, focusing on KRAS gene mutations [11] Regulatory and Governance Updates - The former deputy director of the Henan Provincial Medical Security Bureau is under investigation for serious violations of discipline and law [13] - Shareholder Wang Xiaopeng of Huyou Pharmaceutical plans to reduce his stake by up to 3% due to personal financial needs [14] - Independent director Huang Zhengming of Qidi Pharmaceutical has resigned due to work reasons, which may affect the board's composition [15]

Core Viewpoint - The resignation of independent director Huang Zhengming from Tsinghua Unigroup is announced, which will lead to a temporary insufficiency in the number of independent directors as per the company's articles of association [1]. Group 1 - Huang Zhengming resigned due to work reasons and will continue to fulfill his duties until a new independent director is elected at the shareholders' meeting [1]. - The company expresses gratitude for Huang Zhengming's contributions during his tenure, highlighting his diligence and positive impact on the company's operations and decision-making [1]. - The company will expedite the process of selecting a new independent director to comply with legal requirements [1].

Group 1 - The company, Qidi Pharmaceutical, announced the resignation of independent director Huang Zhengming due to work reasons [1] - Huang Zhengming also held positions on the Strategy Committee, Nomination Committee, and Compensation and Assessment Committee [1]