Group 1 - The article highlights a series of corruption cases involving pharmaceutical companies and agents bribing hospital personnel, with the National Healthcare Security Administration (NHSA) stating that such bribery disrupts normal medical practices and shifts sales from clinical value to high rebates and kickbacks [2][6] - Multiple companies, including Medtronic and A-share listed companies like Qianhong Pharmaceutical and Dezhan Health, have been named in recent court rulings related to these corruption cases [2][5] - Specific cases include Medtronic's agents bribing hospital officials with kickbacks of 5,000 yuan per stent and varying amounts for balloons, leading to a total bribe exceeding 14 million yuan [3][4] Group 2 - The case involving Qianhong Pharmaceutical and Dezhan Health reveals that from January 2013 to May 2019, a hospital's pharmacy director received over 116,000 yuan in bribes from various pharmaceutical representatives, including 4,100 yuan from Qianhong Pharmaceutical [5] - The NHSA has established a credit evaluation system for pricing and procurement to address the inflated prices revealed by these cases, aiming to protect patients and healthcare funds [6]

Core Insights - The National Healthcare Security Administration (NHSA) has recently exposed multiple corruption and illegal cases involving various pharmaceutical companies, including Medtronic, Qianhong Pharmaceutical, and Dezhan Health, highlighting systemic issues in the medical procurement process [1][4]. Group 1: Corruption Cases - Medtronic's agents were found to have bribed hospital officials to promote the sale of stents and balloons, with kickbacks of 5,000 RMB per stent and varying amounts for balloons based on their price [2][3]. - The total amount of bribes received by a hospital vice president from Medtronic's agents was reported to be over 6.74 million RMB from 2014 to 2018 [2]. - In a separate case, Qianhong Pharmaceutical and Dezhan Health were implicated in bribery involving hospital procurement officials, with Qianhong's agent providing 41,000 RMB in kickbacks [4]. Group 2: Regulatory Response - The NHSA has established a credit evaluation system for pricing and procurement to address the issues of inflated drug prices and corruption, aiming to protect patients and healthcare funds [5]. - The NHSA plans to guide local healthcare authorities in implementing trust ratings for companies involved in bribery and misconduct, enforcing measures to ensure compliance and safeguard healthcare funds [5].

Core Viewpoint - Dezheng Health (000813) announced the progress of a lawsuit involving its former controlling shareholder, Meilin Holdings Group, and a related party, Tianbao Jialin International Trade Co., Ltd., which is being sued by Beijing Huaxin Shengrong Information Consulting Co., Ltd. for a contractual dispute [1] Summary by Sections Legal Proceedings - The Beijing Huaxin filed a lawsuit against Tianbao Jialin International Trade Co., Ltd. in the Beijing Third Intermediate People's Court due to a contractual dispute [1] - On November 24, 2025, the company received a ruling from the Beijing High Court that revoked the original ruling of the Beijing Third Intermediate Court and instructed the original court to re-examine the case [1] - The case is still pending trial, and it is currently impossible to assess its impact on the company's current or future profits [1] Company Response - The company emphasizes its commitment to addressing the lawsuit and will actively organize its defense to protect its legal rights and the interests of all shareholders [1]

证券代码：000813 证券简称：德展健康 公告编号：2025-073 德展大健康股份有限公司 关于公司诉讼事项的进展公告 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。 特别提示： 1、案件所处的诉讼阶段：二审裁定撤销原审裁定，指令原审法院审理。 2、公司所处的当事人地位：被告 3、对上市公司损益产生的影响：本案尚待开庭审理，暂无法判断对公司本 期利润或期后利润的影响。 一、本次诉讼基本情况 因德展大健康股份有限公司（以下简称"公司"、"德展健康"）原控股股 东美林控股集团有限公司的关联方天宝嘉麟国际贸易有限公司与北京华新盛融 信息咨询有限公司（以下简称"北京华新"）之间合同纠纷，北京华新向北京市 第三中级人民法院（以下简称"北京三中院"）提起诉讼。 公司于 2025 年 3 月 25 日收到了北京三中院发来的（2022）京 03 民初 382 号《民事裁定书》，依据相关法律法规，北京三中院裁定驳回北京华新的起诉。 公司于 2025 年 5 月 7 日收到北京三中院发来的北京华新的《民事上诉状》， 北京华新不服一审裁定，已向北京市高级人民法院（以下简称"北京 ...

Market Overview - On November 21, the Xinjiang state-owned enterprise reform sector fell by 3.41% compared to the previous trading day, with Baodi Mining leading the decline [1] - The Shanghai Composite Index closed at 3834.89, down 2.45%, while the Shenzhen Component Index closed at 12538.07, down 3.41% [1] Stock Performance - Notable stock movements included: - Beixin Road and Bridge (002307) rose by 9.92% to a closing price of 5.21, with a trading volume of 1.6997 million shares and a turnover of 862 million yuan [1] - Baodi Mining (601121) fell by 9.92% to a closing price of 66.9, with a trading volume of 386,900 shares and a turnover of 278 million yuan [2] - Other significant declines included: - Zhun Oil Co. (002207) down 8.29% to 7.96 [2] - Guanyi Co. (600251) down 5.56% to 8.67 [2] Capital Flow Analysis - The Xinjiang state-owned enterprise reform sector experienced a net outflow of 31.4271 million yuan from main funds, while retail investors saw a net inflow of 13.9266 million yuan [2][3] - Key capital flows for selected stocks included: - Beixin Road and Bridge had a main fund net inflow of 2.61 million yuan, but retail funds saw a net outflow of 1.44 million yuan [3] - Zhongtai Chemical (002092) had a main fund net inflow of 550.65 thousand yuan, while retail funds experienced a net outflow of 2.52974 million yuan [3]

Core Viewpoint - The company emphasizes the importance of market value management and is actively implementing strategies to enhance its internal value and shareholder returns [1] Group 1: Market Value Management - The company has established a standardized management system through the formulation of the "Market Value Management System" [1] - It is committed to compliant use of market value management tools and enhancing communication with market participants to convey the company's value [1] Group 2: Operational Focus - The company is focused on improving operational performance to enhance quality and internal value [1] - It aims to steadily advance market value management based on the ability to increase shareholder returns [1]

Core Viewpoint - The company, Dezhan Health (000813), has indicated that it has explored the use of rose extract in its innovative drug discovery research, but has not yet officially initiated related studies [1] Group 1 - The company has engaged in exploratory research involving rose extract [1] - There is no formal project established for further research on rose extract at this time [1]

Core Insights - The company is developing the Hainan Decheng International Medical and Health Complex project, which is not currently covered by the "Special Medical" policy but benefits from the general policies of the Hainan Free Trade Port [1][2] - The project has been recognized as a major project in Hainan Province for 2025 and has signed a strategic cooperation framework agreement with China General Technology Group's subsidiary, aiming to enhance the company's health service capabilities [2][3] - The company reported a revenue of 278 million yuan for the first nine months of 2025, a year-on-year decrease of 21.71%, and a net loss of 64 million yuan, with losses expanding by 1493.85% compared to the previous year [1] Project Details - The Hainan Decheng International Medical and Health Complex project includes a secondary rehabilitation hospital with a construction area of approximately 15,500 square meters and a total of about 182 beds [2] - The project has a total investment of approximately 489 million yuan and a total construction area of about 71,828 square meters [2] - The project aims to create an international health complex that integrates medical, research, tourism, and wellness services, leveraging high-quality global medical resources [3]

Core Viewpoint - Dezheng Health's stock price has experienced fluctuations, with a year-to-date increase of 39.30%, but a recent decline in trading performance [1][2]. Group 1: Stock Performance - On November 11, Dezheng Health's stock fell by 2.02%, trading at 4.36 CNY per share, with a total market capitalization of 9.143 billion CNY [1]. - The stock has seen a net outflow of 21.3992 million CNY in principal funds, with significant selling pressure observed [1]. - Year-to-date, the stock has risen by 39.30%, but has seen a slight decline of 1.13% over the last five trading days [1]. Group 2: Financial Performance - For the period from January to September 2025, Dezheng Health reported a revenue of 278 million CNY, a year-on-year decrease of 21.71%, and a net profit attributable to shareholders of -61.0254 million CNY, a significant decline of 854.37% [2]. - The company has not distributed any dividends in the last three years, with a total payout of 470 million CNY since its A-share listing [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders decreased to 57,600, with an average of 36,404 circulating shares per person, reflecting a slight decline [2]. - The Hong Kong Central Clearing Limited has exited the list of the top ten circulating shareholders [3].

Core Viewpoint - The company is actively involved in the development of innovative drugs and has a significant partnership in the DNA immunotherapy field, specifically targeting HPV-related precancerous lesions [1] Group 1: Company Collaboration and Projects - The VGX-3100 project is a key collaboration between the company's subsidiary, Dongfang Lue, and Inovio, focusing on DNA immunotherapy for treating precancerous lesions caused by HPV [1] - Dongfang Lue holds exclusive rights for the development, production, and commercialization of the product in Greater China, which includes mainland China, Hong Kong, Macau, and Taiwan [1] Group 2: Company Holdings and Market Position - The company does not hold any shares in Inovio and has no mutual shareholding plans with them [1] - Currently, the company positions itself as a generic drug company but is actively pushing forward with the research and development of innovative drugs such as WYY and ZT [1]