Company Overview - Dezheng Health was established on January 1, 1981, and listed on the Shenzhen Stock Exchange on May 19, 1998. The company is headquartered in Urumqi, Xinjiang, with its office located in Beijing. It is a leading enterprise in the research and manufacturing of cardiovascular drugs in China, with its core product being Alet (Atorvastatin Calcium Tablets), which has both brand and technological advantages [1] Financial Performance - In Q3 2025, Dezheng Health achieved a revenue of 278 million yuan, ranking 93rd among 110 companies in the industry. The top company, Huadong Medicine, reported a revenue of 32.664 billion yuan, while the second, Fosun Pharma, reported 29.393 billion yuan. The industry average revenue was 280 million yuan, with a median of 83.8 million yuan [2] - The net profit for the same period was -88.5372 million yuan, ranking 91st in the industry. The leading company, Heng Rui Medicine, reported a net profit of 5.76 billion yuan, and Fosun Pharma reported 3.056 billion yuan. The industry average net profit was 299 million yuan, with a median of 78.2908 million yuan [2] Financial Ratios - As of Q3 2025, Dezheng Health's debt-to-asset ratio was 5.18%, up from 2.63% in the same period last year, significantly lower than the industry average of 35.26%, indicating strong solvency [3] - The gross profit margin for Q3 2025 was 55.57%, down from 61.46% in the previous year, slightly below the industry average of 57.17% [3] Leadership - The controlling shareholder of Dezheng Health is Xinjiang Kaidi Investment Co., Ltd., with the actual controller being the State-owned Assets Supervision and Administration Commission of the Xinjiang Uygur Autonomous Region. The chairman, Wei Zheming, born in November 1982, holds a master's degree in business administration and has extensive management and investment experience. He has held significant positions in various companies, including Tebian Electric Apparatus and Xinjiang Lianchuang Yongjin. The general manager, Liu Wei, born in January 1970, is a licensed pharmacist with a salary of 3.98 million yuan in 2024, unchanged from 2023 [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders of Dezheng Health was 57,600, a decrease of 1.13% from the previous period. The average number of circulating A-shares held per household was 36,400, down by 2.03%. Additionally, as of the same date, Hong Kong Central Clearing Limited exited the list of the top ten circulating shareholders [5]

Market Overview - On October 31, the Xinjiang state-owned enterprise reform sector rose by 0.94% compared to the previous trading day, with Dezhang Health leading the gains [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Stock Performance - Dezhang Health (000813) closed at 4.38, up 5.29% with a trading volume of 1.1741 million shares and a turnover of 511 million yuan [1] - Tianfu Energy (600509) closed at 8.58, up 4.00% with a trading volume of 660,100 shares and a turnover of 555 million yuan [1] - Xinjiang Communications Construction (002941) closed at 18.92, up 2.83% with a trading volume of 649,000 shares and a turnover of 1.233 billion yuan [1] - Other notable stocks include Qingsong Jianhua (600425) up 2.17%, Xiyu Tourism (300859) up 1.50%, and ST Zhongji (000972) up 1.36% [1] Capital Flow - The Xinjiang state-owned enterprise reform sector saw a net inflow of 59.4644 million yuan from main funds, while retail funds experienced a net outflow of 44.876 million yuan [2] - The main funds showed a significant interest in Tianfu Energy and Xinjiang Communications Construction, with net inflows of 97.0517 million yuan and 68.8371 million yuan respectively [3] - Retail investors showed a net outflow from several stocks, including Tianfu Energy and Xinjiang Communications Construction, indicating a shift in investor sentiment [3]

Market Performance - The Xinjiang state-owned enterprise reform sector increased by 0.6% compared to the previous trading day, with Baodi Mining leading the gains [1] - The Shanghai Composite Index closed at 4016.33, up by 0.7%, while the Shenzhen Component Index closed at 13691.38, up by 1.95% [1] Individual Stock Performance - Baodi Mining (601121) closed at 7.37, with a rise of 2.65% and a trading volume of 216,000 shares, amounting to a transaction value of 158 million [1] - Western Gold (601069) closed at 28.05, up by 1.96%, with a trading volume of 183,300 shares and a transaction value of 510 million [1] - Lide New Energy (001258) closed at 8.33, also up by 1.96%, with a trading volume of 580,400 shares and a transaction value of 479 million [1] - Xinjiang Communications Construction (002941) closed at 18.86, up by 1.89%, with a trading volume of 1,619,300 shares and a transaction value of 1.144 billion [1] Capital Flow Analysis - The Xinjiang state-owned enterprise reform sector experienced a net outflow of 97.53 million from institutional investors, while retail investors saw a net inflow of 65.44 million [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are actively buying [2] Detailed Capital Flow by Stock - Western Gold (601069) had a net outflow of 30.21 million from institutional investors, while retail investors contributed a net inflow of 3.51 million [3] - Baodi Mining (601121) saw a net inflow of 22.37 million from institutional investors, but a net outflow of 21.32 million from retail investors [3] - Lide New Energy (001258) had a net inflow of 18.61 million from institutional investors, with retail investors also contributing a net inflow of 22.17 million [3]

Core Viewpoint - The company, 德展大健康股份有限公司, has released its third-quarter financial report for 2025, ensuring the accuracy and completeness of the information disclosed [1][2][9]. Financial Data Summary - The third-quarter financial report has not been audited [8]. - The company does not require retrospective adjustments or restatements of previous accounting data [3]. - There are no non-recurring profit and loss items applicable for this quarter [3][4]. Board Meeting Summary - The company's ninth board meeting was held on October 24, 2025, with all nine directors present, confirming compliance with legal and procedural requirements [10][12]. - The board approved the third-quarter report with unanimous consent [12][13].

Group 1 - The core viewpoint of the news is that 德展健康 (Dezhan Health) reported a significant decline in revenue and incurred a net loss in its third-quarter performance for 2025 [1] - The company's revenue for the first three quarters of 2025 was approximately 278 million yuan, representing a year-on-year decrease of 21.71% [1] - The net profit attributable to shareholders was a loss of approximately 61.03 million yuan, with a basic earnings per share loss of 0.0288 yuan [1] Group 2 - As of the report, 德展健康 has a market capitalization of 8.7 billion yuan [2] - The news highlights the broader context of the biopharmaceutical market, noting that China’s innovative drugs have generated 80 billion US dollars in overseas licensing this year [2] - There is a contrast drawn between the hot secondary market for biopharmaceuticals and the cooling fundraising environment in the primary market [2]

证券代码：000813 证券简称：德展健康 公告编号：2025-071 德展大健康股份有限公司 三、备查文件 德展大健康股份有限公司（以下简称"公司"）第九届董事会第二次会议的 通知已于 2025 年 10 月 21 日以电子邮件方式发出；公司于 2025 年 10 月 24 日 11:00 以通讯表决方式召开。本次会议应参加会议董事 9 人，实际参加会议董事 9 人。会议由董事长魏哲明先生主持，公司全体高管列席了本次会议。本次会议 的召集、召开符合《公司法》及《公司章程》的规定。 二、董事会会议审议情况 （一）关于公司 2025 年第三季度报告的议案 公司依据 2025 年第三季度生产经营情况编制了《德展大健康股份有限公司 2025 年第三季度报告》。 表决结果：同意 9 票，反对 0 票，弃权 0 票。 该议案审议获得通过，并已经公司审计委员会审议通过。 具体内容详见公司同日在《证券时报》《上海证券报》《中国证券报》《证 券日报》、巨潮资讯网（www.cninfo.com.cn）披露的《2025 年第三季度报告》 （公告编号：2025-072）。 第九届董事会第二次会议决议公告 本公司及董事会全体成员保证 ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥111,144,059.87, representing a 4.70% increase year-over-year, but a 21.71% decrease for the year-to-date period[5]. - The net profit attributable to shareholders was -¥18,098,873.86, a significant decline of 777.27% compared to the same period last year, and a year-to-date decline of 854.37% to -¥61,025,357.03[5]. - The basic and diluted earnings per share were both -¥0.0085, reflecting a decrease of 750.00% year-over-year and 878.38% year-to-date[5]. - Total operating revenue for the current period is ¥277,500,292.60, down 21.7% from ¥354,472,693.30 in the previous period[25]. - Net profit for the current period is a loss of ¥88,537,198.97, compared to a loss of ¥8,329,156.02 in the previous period, indicating a significant decline in profitability[26]. - The company reported a basic and diluted earnings per share of -0.0288, compared to 0.0037 in the previous period[27]. Assets and Liabilities - The total assets at the end of Q3 2025 were ¥5,233,330,047.52, down 1.63% from the end of the previous year[5]. - As of September 30, 2025, the total assets of the company amounted to ¥5,233,330,047.52, a decrease from ¥5,319,833,620.49 at the beginning of the period[20]. - The company's cash and cash equivalents decreased to ¥2,365,526,990.47 from ¥2,530,699,274.17, reflecting a decline of approximately 6.5%[20]. - Total liabilities increased to ¥271,088,648.98 from ¥154,884,054.36, reflecting a significant rise in financial obligations[22]. - Non-current liabilities rose sharply to ¥160,404,041.83 from ¥45,010,236.25, indicating increased long-term financial commitments[22]. - The company's total equity decreased to ¥4,962,241,398.54 from ¥5,164,949,566.13, showing a decline in shareholder value[23]. Cash Flow - Cash flow from operating activities for the year-to-date period was ¥26,411,149.81, showing a substantial increase of 205.30%[5]. - The net cash flow from operating activities was $26,411,149.81, a significant improvement compared to a net outflow of -$25,080,901.14 in the previous period, indicating a turnaround in operational performance[30]. - The net cash flow from investing activities was -$191,552,325.58, worsening from -$110,143,377.46 in the prior period, reflecting increased investment expenditures[31]. - Cash and cash equivalents at the end of the period totaled $2,275,231,169.90, down from $2,531,158,919.42 at the end of the previous period, showing a decrease of approximately 10%[31]. - The total cash inflow from financing activities was $118,800,000.00, with cash outflow totaling $136,006,267.42, resulting in a net cash outflow of -$17,206,267.42[31]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 57,596[14]. - Xinjiang Kaidi Investment Co., Ltd. holds 19.54% of shares, totaling 409,748,445 shares, with 143,000,000 shares pledged[14]. - The top 10 shareholders include Meilin Holdings Group Co., Ltd. with 8.85% (185,672,150 shares) and Chen Zhiwenlong with 6.18% (129,500,000 shares)[14]. - Xinjiang Kaidi Mining Investment Co., Ltd. holds 4.96% (104,039,367 shares) and Zhu Ming holds 4.01% (84,073,700 shares)[15]. - The total shares held by the top 10 unrestricted shareholders amount to 409,748,445 shares[15]. - The company has not reported any changes in the top 10 shareholders due to margin trading or lending of shares[15]. Investments and Expenses - Investment losses increased by 37.58% to -¥13,980,876.41, mainly due to higher losses from investments in joint ventures[11]. - Research and development expenses decreased to ¥29,070,328.37 from ¥36,148,711.02, a reduction of 19.5%[26]. - The company reported a significant investment loss of ¥13,980,876.41, compared to a loss of ¥10,162,176.84 in the previous period[26]. - The company’s cash flow from investment activities reflects a strategic focus on growth, with substantial investments in fixed assets totaling $156,921,325.46[30]. Corporate Governance - The company plans to hold a board meeting to elect a new chairman and senior management, indicating a potential shift in governance[18]. - The company established a "Technology Innovation Development Center" to enhance its technological innovation capabilities and decision-making processes[18]. - The company has completed the cancellation of repurchased shares, aligning with legal regulations regarding share buybacks[20].

Core Insights - The NMN concept index rose by 0.95%, ranking 10th among concept sectors, with 18 stocks increasing in value, led by Te Yi Pharmaceutical, which hit the daily limit, and other notable gainers including Su Yan Jing Shen, Zhong Sheng Pharmaceutical, and Shuanglu Pharmaceutical, which rose by 5.93%, 5.22%, and 4.42% respectively [1][2] Market Performance - The NMN concept sector saw a net inflow of 181 million yuan from main funds, with 13 stocks receiving net inflows, and 5 stocks exceeding 10 million yuan in net inflow. Te Yi Pharmaceutical topped the list with a net inflow of 215 million yuan, followed by Zhong Sheng Pharmaceutical, De Zhan Health, and Shuanglu Pharmaceutical with net inflows of 51.31 million yuan, 35.94 million yuan, and 14.18 million yuan respectively [2][3] Fund Flow Ratios - Te Yi Pharmaceutical, Yaben Chemical, and De Zhan Health had the highest net inflow ratios, with rates of 17.90%, 11.09%, and 9.59% respectively [3]

Core Viewpoint - Dezheng Health (000813) hosted the "Xinjiang Drug Research and Development Innovation and Industry Exchange Seminar" on July 23, 2025, which is significant for the innovative development of the Xinjiang pharmaceutical industry [1] Group 1 - The seminar gathered experts, scholars, and industry peers to provide insights for the innovative development of the Xinjiang pharmaceutical industry, creating a more supportive environment for research and development, financial capital, and industrial policies [1] - The establishment of the company's academician expert workstation during the seminar will help gather top intellectual resources, enhance research and development capabilities, and accelerate the transformation of scientific achievements [1] - The event is expected to provide substantial support for the regional industrial environment and the long-term development of the company [1]

Group 1 - The company emphasizes the importance of the Hainan Free Trade Port construction and its development opportunities [2] - The Hainan Decheng International Medical and Health Complex project is recognized as a significant project for Hainan Province by 2025 [2] - The company plans to leverage the policies and resource advantages of the Hainan Free Trade Port while actively researching and assessing the impact of these policies on the project [2]