Group 1 - The Chinese medicine sector increased by 0.59% compared to the previous trading day, with Jiaying Pharmaceutical leading the gains [1] - The Shanghai Composite Index closed at 3870.28, up by 1.19%, while the Shenzhen Component Index closed at 13224.51, up by 2.4% [1] - A detailed table of individual stock performance in the Chinese medicine sector is provided [1] Group 2 - The net inflow of main funds into the Chinese medicine sector was 88.3985 million yuan, while retail funds saw a net inflow of 89.9267 million yuan [2] - Conversely, there was a net outflow of 178 million yuan from speculative funds [2] - A detailed table of fund flows for individual stocks in the Chinese medicine sector is included [2]

Market Overview - The Shanghai Composite Index closed at 3871.44 points, above the annual line, with an increase of 1.22% [1] - The total trading volume of A-shares reached 18224.48 billion yuan [1] Stocks Breaking Annual Line - A total of 118 A-shares have surpassed the annual line today, with notable stocks showing significant deviation rates [1] - Stocks with the highest deviation rates include: - Jiaying Pharmaceutical (8.17%) - Kaiwang Technology (7.31%) - Chuanhuan Technology (6.60%) [1] Detailed Stock Performance - The following stocks have notable performance metrics: - Jiaying Pharmaceutical: Today's increase of 9.96%, turnover rate of 5.15%, latest price at 7.40 yuan [1] - Kaiwang Technology: Today's increase of 15.65%, turnover rate of 8.96%, latest price at 38.87 yuan [1] - Chuanhuan Technology: Today's increase of 8.66%, turnover rate of 12.99%, latest price at 35.76 yuan [1] - Additional stocks with significant performance include: - Yongji Co. (6.07% deviation) - Runpu Food (5.64% deviation) - Kunlun Wanwei (5.37% deviation) [1]

Core Points - The Shanghai Composite Index closed at 3867.04 points, above the annual line, with an increase of 1.10% [1] - The total trading volume of A-shares reached 1.367165 trillion yuan [1] - A total of 74 A-shares have surpassed the annual line today, with notable stocks showing significant deviation rates [1] Summary by Category Stock Performance - The stocks with the highest deviation rates include Hanxin Technology (10.28%), Jiaying Pharmaceutical (8.17%), and Runpu Food (6.44%) [1] - Other stocks that just crossed the annual line include ST Qibu, Yinghuatech, and Jiangxi Changyun, which have lower deviation rates [1] Trading Data - The trading performance of selected stocks shows significant daily changes, with Hanxin Technology leading with a daily increase of 13.96% and a turnover rate of 26.99% [1] - Jiaying Pharmaceutical and Runpu Food also showed strong daily increases of 9.96% and 9.35%, respectively [1] Additional Stock Information - Other notable stocks with positive performance include Yongji Co. (7.50%), Kaiwang Technology (13.86%), and Chuanhuan Technology (7.57%) [1] - The table lists various stocks with their respective trading data, including daily change percentages, turnover rates, annual line prices, latest prices, and deviation rates [1][2]

Market Overview - The traditional Chinese medicine sector experienced a decline of 0.28% on December 8, with Weikang Pharmaceutical leading the drop [1] - The Shanghai Composite Index closed at 3924.08, up 0.54%, while the Shenzhen Component Index closed at 13329.99, up 1.39% [1] Stock Performance - Notable gainers in the traditional Chinese medicine sector included: - Xinguang Pharmaceutical (300519) with a closing price of 17.34, up 3.96% and a trading volume of 131,800 shares, totaling 229 million yuan [1] - Kanghui Co., Ltd. (603139) closed at 22.35, up 2.48% with a trading volume of 20,300 shares, totaling 45.04 million yuan [1] - Conversely, Weikang Pharmaceutical (300878) saw a significant decline of 8.00%, closing at 22.66 with a trading volume of 110,800 shares, totaling 251 million yuan [2] Capital Flow - The traditional Chinese medicine sector experienced a net outflow of 723 million yuan from institutional investors, while retail investors saw a net inflow of 469 million yuan [2] - The capital flow for specific stocks showed: - Yunnan Baiyao (000538) had a net inflow of 26.56 million yuan from institutional investors, while retail investors had a net outflow of 6,450 yuan [3] - Kang Enbei (600572) reported a net inflow of 21.85 million yuan from institutional investors, with a net outflow of 1.92 million yuan from retail investors [3]

Core Points - The company has completed the registration of its revised Articles of Association and related personnel with the local market supervision authority [1][2][3] - The registration was approved during the company's second extraordinary general meeting held on October 31, 2025 [1] - The revised Articles of Association are consistent with the version published on October 16, 2025 [1]

关于完成工商备案登记的公告 本公司及全体董事会成员保证本公告内容的真实、准确和完整，不存在虚假 记载、误导性陈述或者重大遗漏。 广东嘉应制药股份有限公司（以下简称"公司"）于 2025 年 10 月 31 日召 开公司 2025 年第二次临时股东大会，审议通过了《关于修订<公司章程>并办理 工商变更登记的议案》，具体内容详见 2025 年 11 月 1 日披露在指定信息披露媒 体及巨潮资讯网（www.cninfo.com.cn）的《2025 年第二次临时股东大会决议公 告》（公告编号：2025-060）。 公司于近日完成《公司章程》及相关人员备案等工商备案登记手续，并取得 了梅州市市场监督管理局下发的备案登记许可，本次经审核并备案的《公司章程》 与 2025 年 10 月 16 日公司在指定信息披露媒体及巨潮资讯网（www.cninfo.com.cn） 发布的《公司章程》全文无差异，具体内容详见上述媒体及网站。 证券代码：002198 证券简称：嘉应制药 公告编号：2025-064 广东嘉应制药股份有限公司 特此公告。 广东嘉应制药股份有限公司董事会 2025 年 12 月 2 日 ...

Investment Rating - The industry rating is maintained at "Overweight" [8] Core Views - The market performance of the traditional Chinese medicine (TCM) sector showed a slight increase of 1.29%, which is the smallest among secondary sub-sectors [1] - The price governance of Chinese patent medicines is being actively implemented across multiple regions, aiming to create a unified and competitive drug market [4][5] - The valuation metrics for the TCM sector indicate a PE (ttm) of 27.72X and a PB (lf) of 2.33X, with both metrics showing slight increases compared to the previous week [2] Market Performance - The TCM sector reported a market index of 6501.99 points, reflecting a 1.29% increase over the last week [1] - The overall pharmaceutical and biological sector index rose to 8430.03 points, with a 2.67% increase [1] Valuation Metrics - The TCM sector's PE (ttm) is at 27.72X, up by 0.36X week-on-week, with a one-year maximum of 30.26X and a minimum of 24.72X [2] - The PB (lf) stands at 2.33X, increasing by 0.02X from the previous week, with a one-year maximum of 2.54X and a minimum of 2.17X [2] Supply Chain Insights - The market for TCM raw materials has shown signs of recovery, with a price index of 225.55 points, reflecting a 0.4% increase from the previous week [3] - The market sentiment for TCM raw materials is improving, with increased foot traffic and positive investment sentiment [3] Policy and Regulatory Environment - Multiple regions have initiated price governance for Chinese patent medicines, focusing on high-priced products with significant price discrepancies [4][5] - The ongoing supply-side reforms are expected to reshape competitive factors within the industry, with a shift from channel-driven to value and cost-driven competition [5] Investment Recommendations - The report suggests focusing on three main investment themes: price governance, consumption recovery, and state-owned enterprise reform [11] - Specific recommendations include companies with strong R&D capabilities, unique products, and those less affected by centralized procurement [12]

Group 1 - The Chinese medicine sector experienced a decline of 0.83% on November 28, with Yue Wannianqing leading the drop [1] - The Shanghai Composite Index closed at 3888.6, up 0.34%, while the Shenzhen Component Index closed at 12984.08, up 0.85% [1] - Key stocks in the Chinese medicine sector showed mixed performance, with Tai Long Pharmaceutical rising by 5.37% to a closing price of 8.04 [1] Group 2 - Yue Wannianqing saw a significant drop of 13.71%, closing at 22.84, with a trading volume of 296,100 shares [2] - Other notable declines included Zhongsheng Pharmaceutical, which fell by 10.00% to 23.95, and Te Yi Pharmaceutical, which decreased by 6.41% to 14.01 [2] - The overall net capital flow in the Chinese medicine sector indicated a net outflow of 981 million yuan from main funds, while retail investors contributed a net inflow of 766 million yuan [2]

格隆汇11月28日丨嘉应制药(002198.SZ)在投资者互动平台表示，公司部分产品涉及感冒、咽喉肿痛 类，目前生产依据计划和市场情况有序进行。 ...

Core Viewpoint - The article discusses the ongoing strict regulatory environment for listed companies in China, highlighting recent administrative penalties and investigations against several A-share companies, particularly focusing on issues related to financial misconduct and information disclosure violations [3][4]. Group 1: Regulatory Actions - Multiple A-share companies, including Longbai Group, Dongjiang Environmental Protection, and *ST Chuangxing, have received administrative penalties for various violations, including false financial reporting and undisclosed related-party transactions [3][5]. - Over 10 A-share companies have been penalized or investigated in November alone, with a significant number being ST companies, indicating a heightened regulatory scrutiny [3][4]. Group 2: Specific Cases - Longbai Group's subsidiary was fined 1.49 million yuan due to a safety incident that resulted in casualties and economic losses, while Dongjiang's subsidiary faced penalties for tax evasion amounting to 202.42 million yuan [6][7]. - *ST Chuangxing was found to have false financial records and inadequate disclosure of related-party transactions, leading to a correction order from the Shanghai Securities Regulatory Bureau and warnings issued to its executives [8][9]. Group 3: Other Companies Involved - Companies like Haosai and Jushihua were also investigated for information disclosure violations, with their stock prices dropping significantly following the announcements [10]. - Jia Ying Pharmaceutical faced penalties for failing to disclose 220 million yuan in related-party loans, resulting in warnings and fines totaling 4.9 million yuan [10][11]. - Hengli Tui, which has been delisted, was penalized for financial fraud involving inflated revenue figures, leading to fines of 39.4 million yuan against the company and its executives [13][14].