Group 1 - The company, Zhejiang Zhenyuan, is legally and procedurally advancing its targeted issuance of new shares [2]

Core Insights - Zhejiang Zhenyuan (000705) reported a significant decline in total revenue for the first half of 2025, with a year-on-year decrease of 34.49% to 1.283 billion yuan, while net profit attributable to shareholders increased by 29.27% to 56.26 million yuan [1][3] - The company's financial metrics showed a mixed performance, with a notable increase in gross margin to 25.42% and net margin to 4.38%, but a substantial rise in operating expenses [1][4] - The company is focusing on its core pharmaceutical business, including raw material production and innovative synthetic biology projects, which are expected to drive future growth [5][8] Financial Performance - Total revenue for 2025 was 1.283 billion yuan, down from 1.959 billion yuan in 2024, a decrease of 34.49% [1] - Net profit increased to 56.26 million yuan from 43.52 million yuan, reflecting a growth of 29.27% [1] - Gross margin improved to 25.42%, up 32.1% year-on-year, while net margin rose to 4.38%, an increase of 90.06% [1] - Operating expenses totaled 259 million yuan, accounting for 20.21% of revenue, a rise of 35.13% [1][4] Changes in Financial Items - Accounts receivable decreased by 45.16% due to the exclusion of Zhenyuan Pharmaceutical from the consolidated financial statements following a capital increase [3] - Contract assets dropped by 100% for the same reason, while inventory fell by 26.99% [3] - Long-term equity investments surged by 38,224.93% as Zhenyuan Pharmaceutical was reclassified [3] - Cash flow from operating activities decreased by 95.36%, attributed to reduced sales collections [4] Business Strategy and Outlook - The company is enhancing its pharmaceutical distribution and production capabilities, focusing on strategic partnerships, particularly with China Resources [5][7] - The synthetic biology project is expected to begin trial production in 2025, aiming to capture a share of the high-end amino acid market [6][9] - The company plans to leverage its existing biopharmaceutical expertise to advance its synthetic biology initiatives, which align with national strategic industry policies [8][9]

Financial Performance - The company reported a total revenue of 1.283 billion yuan for the first half of 2025 [1] - The net profit attributable to shareholders was 56.26 million yuan, an increase of 12.74 million yuan compared to the same period last year, representing a year-on-year growth of 29.27% [1] - The net cash inflow from operating activities was 6.33 million yuan [1] Profitability Metrics - The latest gross profit margin was 25.42%, an increase of 2.65 percentage points from the previous quarter, marking two consecutive quarters of growth, and a rise of 6.18 percentage points compared to the same period last year, achieving three consecutive years of growth [3] - The diluted earnings per share were 0.17 yuan, an increase of 0.04 yuan compared to the same period last year, reflecting a year-on-year increase of 30.77% [3] - The latest return on equity (ROE) was 2.80%, up by 0.59 percentage points from the same period last year [3] Balance Sheet and Efficiency - The company's latest debt-to-asset ratio was 31.92%, a decrease of 4.12 percentage points compared to the same period last year [3] - The total asset turnover ratio was 0.40 times, and the inventory turnover ratio was 1.54 times [3] Shareholder Information - The number of shareholders was 30,500, with the top ten shareholders holding a total of 98.68 million shares, accounting for 29.53% of the total share capital [3] - The largest shareholder is Shaoxing Zhenyuan Health Industry Group Co., Ltd., holding 24.9% of the shares [3]

Core Viewpoint - Zhejiang Zhenyuan's 2025 mid-year report indicates a significant decline in main revenue while showing an increase in net profit attributable to shareholders, highlighting mixed financial performance amid challenging market conditions [1]. Financial Performance Summary - Main revenue for the first half of 2025 reached 1.283 billion yuan, a year-on-year decrease of 34.49% [1]. - Net profit attributable to shareholders was 56.2637 million yuan, reflecting a year-on-year increase of 29.27% [1]. - Non-recurring net profit stood at 30.1173 million yuan, down 20.32% year-on-year [1]. - In Q2 2025, the company reported a single-quarter main revenue of 532 million yuan, a decline of 41.85% year-on-year [1]. - Single-quarter net profit attributable to shareholders was 20.3811 million yuan, a decrease of 16.05% year-on-year [1]. - Single-quarter non-recurring net profit was 17.7461 million yuan, down 7.88% year-on-year [1]. Financial Ratios and Metrics - The company's debt ratio was reported at 31.92% [1]. - Investment income amounted to 30.9642 million yuan, with financial expenses recorded at -1.8204 million yuan [1]. - Gross profit margin was 25.42%, showing an increase of 32.10% year-on-year [7]. - Return on assets was 2.82%, up 28.18% year-on-year [7]. - Earnings per share were 0.17 yuan, reflecting a year-on-year increase of 30.76% [7]. - Operating cash flow per share was 0.02 yuan, down 95.35% year-on-year [7]. Shareholder Information - The largest shareholder is Shaoxing Zhenyuan Health Industry Group Co., Ltd., holding 31.23 million shares, which is 11.07% of total shares [11]. - Other notable shareholders include individuals and institutions with varying percentages, indicating a diverse shareholder base [11][12].

浙江震元股份有限公司十一届八次董事会决议公告 证券代码：000705 证券简称：浙江震元 公告编号：2025-035 浙江震元股份有限公司十一届八次董事会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 2、审议通过《关于调整公司第十一届董事会相关专门委员会委员 的议案》 调整周巧米同志为战略委员会委员、薪酬与考核委员会委员。 表决结果：12 票同意，0 票反对，0 票弃权。 3、审议通过《关于向银行申请授信的议案》 公司董事会审议同意公司（含子公司）以信用方式向中国工商银 1 浙江震元股份有限公司十一届八次董事会决议公告 行绍兴分行、浙商银行绍兴越城支行、杭州银行绍兴分行、绍兴银行、 浙江绍兴瑞丰农村商业银行股份有限公司镜湖支行、招商银行绍兴分 行、农业银行绍兴越中支行、宁波银行绍兴分行、中信银行绍兴分行 等 9 家银行申请本金金额不超过人民币 10 亿元的综合授信额度，授信 期限自董事会批准同意日起一年；综合授信额度以银行实际审批的授 信额度为准，具体融资金额视公司实际资金需求和银行审批情况确定； 授信期限内，授信额度可循环 ...

格隆汇8月22日丨浙江震元(000705.SZ)公布2025年半年度报告，上半年公司实现营业收入12.83亿元，同 比下降34.49%；归属于上市公司股东的净利润5626.37万元，同比增长29.27%；归属于上市公司股东的 扣除非经常性损益的净利润3011.73万元，同比下降20.32%；基本每股收益0.17元。 ...

Core Viewpoint - Zhejiang Zhenyuan Co., Ltd. reported a significant decline in revenue for the first half of 2025, with total revenue of approximately 1.28 billion yuan, a decrease of 34.49% compared to the same period last year, primarily due to the exclusion of its subsidiary Zhenyuan Medicine from the consolidated financial statements following a capital increase and share expansion [15][21]. Company Overview - Zhejiang Zhenyuan Co., Ltd. operates in the pharmaceutical industry, focusing on pharmaceutical distribution and manufacturing, including traditional Chinese medicine processing and health products [5][8]. - The company has established a strong brand presence, with its flagship store "Zhenyuan Hall" recognized as a time-honored brand in China, contributing to its competitive advantage in the market [20]. Financial Performance - The company reported a net profit attributable to shareholders of approximately 56.26 million yuan, an increase of 29.27% year-on-year, while the net profit after deducting non-recurring gains and losses was about 30.12 million yuan, a decrease of 20.32% [15][21]. - The total assets of the company at the end of the reporting period were approximately 2.96 billion yuan, down 13.55% from the previous year [15]. Business Segments - The pharmaceutical distribution segment includes wholesale and retail operations, with Zhenyuan Medicine successfully attracting strategic investment from China Resources Pharmaceutical Group, enhancing its market competitiveness [8][16]. - The retail segment, led by Zhenyuan Medicine Chain Co., Ltd., has been recognized as a top 100 pharmaceutical chain enterprise in China, with a focus on integrating online and offline services [9][10]. Industry Trends - The pharmaceutical industry is undergoing structural changes, with a shift from price reduction to ensuring supply and quality, driven by national policies aimed at improving healthcare services [6][7]. - The integration of digital tools and online services in the pharmaceutical retail sector is becoming a mainstream trend, enhancing operational efficiency and customer service [6][12]. Research and Development - Zhenyuan Pharmaceutical has a strong focus on R&D, with multiple certifications and patents, and is recognized as a national high-tech enterprise [14][21]. - The company is actively involved in the development of synthetic biology technologies and has established collaborations with leading research institutions to enhance its product offerings [14][21].

证券代码：000705 证券简称：浙江震元 公告编号：2025-036 浙江震元股份有限公司 浙江震元股份有限公司 董事长：吴海明 二〇二五年八月二十一日 浙江震元 2025 年半年度报告摘要 一、重要提示 本半年度报告摘要来自半年度报告全文，为全面了解本公司的经营成果、财务状 况及未来发展规划，投资者应当到证监会指定媒体仔细阅读半年度报告全文。 所有董事均已出席了审议本报告的董事会会议。 非标准审计意见提示 □ 适用 ? 不适用 董事会审议的报告期普通股利润分配预案或公积金转增股本预案 □ 适用 ? 不适用 公司计划不派发现金红利，不送红股，不以公积金转增股本。 董事会决议通过的本报告期优先股利润分配预案 □ 适用 ? 不适用 二、公司基本情况 股票简称 浙江震元 股票代码 000705 股票上市交易所 深圳证券交易所 联系人和联系方式 董事会秘书 证券事务代表 姓名 张誉锋 蔡国权 浙江省绍兴市越城区稽山街道延安 浙江省绍兴市越城区稽山街道延安 办公地址 东路 558 号 东路 558 号 电话 0575-85746658 0575－85139563 电子信箱 000705@zjzy.com 000705 ...

浙江震元股份有限公司 2025 年半年度报告 浙江震元股份有限公司 董事长：吴海明 二〇二五年八月二十一日 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报 告内容的真实、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。 公司负责人吴海明、主管会计工作负责人张斌及会计机构负责人 （会计主管人员）顾叶倩声明：保证本半年度报告中财务报告的真实、 准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本半年度报告涉及未来计划等前瞻性陈述，不构成公司对投资者 的实质承诺，请投资者注意投资风险。 本半年度报告第三节"管理层讨论与分析"中描述了公司经营中 可能面临的各种风险及应对措施，包括行业政策变化风险、市场竞争 风险、原材料价格波动和生产技术风险、药品研发创新及仿制药一致 性评价风险、项目投资风险等，敬请投资者留意查阅。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 二、报告期内公开披露过的所有公司文件的正本及公告的原稿。 3 释义项 指 释义内容 本公司/公司/ 浙江震元 指 浙江震元股份有限公司 震元健康集团 指 绍兴震元健康 ...

合 并 资 产 负 债 表 2025年6月30日 会合01表 | 编制单位：浙江震元股份有限公司 | | | | | 单位：人民币元 | | --- | --- | --- | --- | --- | --- | | 资 产 | 期末数 | 期初数 | 负债和所有者权益 | 期末数 | 期初数 | | | | | (或股东权益) | | | | 流动资产： | | | 流动负债： | | | | 货币资金 | 512,513,917.05 | 549,426,935.55 | 短期借款 | 20,007,555.56 | 249,193,127.55 | | 结算备付金 | | | 向中央银行借款 | | | | 拆出资金 | | | 拆入资金 | | | | 交易性金融资产 | | | 交易性金融负债 | | | | 衍生金融资产 | | | 衍生金融负债 | | | | 应收票据 | | | 应付票据 | 58,738,540.36 | 182,381,426.61 | | 应收账款 | 328,109,404.08 | 693,387,618.76 | 应付账款 | 328,736,798.03 | 5 ...