本公司及全体监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。 证券代码：002198 证券简称：嘉应制药 公告编号：2025-045 广东嘉应制药股份有限公司 第七届监事会第四次会议决议公告 具体内容详见公司同日披露于巨潮资讯网（www.cninfo.com.cn）的《2025 年半年度报告》（公告编号：2025-046）、《2025 年半年度报告摘要》（公告编号： 2025-047）。 2、审议通过《2025年半年度财务报告》 表决结果为：3 票同意，0 票反对，0 票弃权 一、监事会会议召开情况 1、广东嘉应制药股份有限公司（以下简称"公司"）第七届监事会第四次会 议通知已于 2025 年 8 月 14 日以电子邮件及通讯等方式送达公司全体监事及部分 高级管理人员。 2、2025 年 8 月 25 日，会议在嘉应制药（湖南）有限公司会议室以现场结 合通讯方式举行。会议应出席监事 3 人，实际出席监事 3 人，其中委托出席的监 事 0 人，以通讯表决方式出席的监事有邹志忠先生。公司部分高级管理人员列席 了会议，会议由监事会主席钟高华先生主持。本次会议的召集、召开符合法律 ...

证券代码：002198 证券简称：嘉应制药 公告编号：2025-044 广东嘉应制药股份有限公司 第七届董事会第九次会议决议公告 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。 一、董事会会议召开情况 1、广东嘉应制药股份有限公司（以下简称"公司"）第七届董事会第九次会 议通知已于 2025 年 8 月 14 日以电子邮件及通讯等方式送达公司董事、高级管理 人员及监事。 2、2025 年 8 月 25 日，会议在嘉应制药（湖南）有限公司会议室以现场结 合通讯方式举行。会议应出席董事 9 人，实际出席董事 9 人，其中委托出席的董 事 0 人，以通讯表决方式出席的董事有曹邦俊、游永平、姚远、郭华平、徐驰、 李俊国。公司高级管理人员、监事列席了会议，会议由董事长李能先生主持。本 次会议的召集、召开符合法律、法规及公司章程的规定，表决形成的决议合法、 有效。 二、董事会会议审议情况 经与会董事认真审议并表决，形成如下决议： 1、审议通过《关于公司<2025年半年度报告>及其摘要的议案》 表决结果为：9 票同意，0 票反对，0 票弃权 经审议，董事会认为公司 202 ...

广东嘉应制药股份有限公司 2025 年半年度报告全文 广东嘉应制药股份有限公司 2025 年半年度报告 2025-046 2025 年 8 月 26 日 1 广东嘉应制药股份有限公司 2025 年半年度报告全文 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、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人李能、主管会计工作负责人曾勇及会计机构负责人(会计主管 人员)曾勇声明：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。 本报告中如有涉及未来发展陈述，属于计划事项，均不构成公司对投资者 的实质承诺，敬请广大投资者注意投资风险。 报告期内可能存在行业政策变化、主导产品较为集中、价格下跌、成本控 制、新药开发等风险，详见本报告第三节"管理层讨论与分析"的"十、公司面 对的风险和应对措施"中对公司可能面临风险的相关描述，敬请广大投资者注 意投资风险。 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、报告期内在中国证监会指定信息披露载体上公开披露过的所有公司 ...

Group 1 - The core issue revolves around a carefully orchestrated fund transfer of 219 million yuan, representing 28.83% of the company's net assets, through a subsidiary to an affiliated party, revealing severe governance failures within the company [4][5] - The chairman, who is also the actual controller of the affiliated party, initiated this operation just two months after taking office, leading to accusations of self-dealing and a complete collapse of corporate governance [4][5] - The company's financial integrity is questioned as it reported a 28.83% year-on-year revenue increase and a 197.23% profit surge in Q1 2025, while its operating cash flow plummeted by 193.73% to -11.83 million yuan, indicating a significant disconnect between profit and cash flow [5][6] Group 2 - The controversy began with a contentious reverse merger, where a pharmacy chain acquired 7% of the company for 355 million yuan, but the investment has since lost over 30% of its value due to the company's stock price decline and ongoing investigations [6][8] - The pharmacy chain's business model, heavily reliant on franchise stores, faces challenges in a competitive market, with a gross margin of only 18.9%, significantly below the industry average [6][8] - The company's reliance on a single product, which saw a 38.6% price drop due to centralized procurement, has led to a 29.46% revenue decline, raising concerns about its sustainability in a price-sensitive market [5][6] Group 3 - The ongoing centralized procurement policies are reshaping the pharmaceutical industry, with companies facing pressure to lower prices or risk losing market access, highlighting the need for innovation and compliance [7][8] - Regulatory changes in 2025 will eliminate the lowest price bidding system, increasing compliance costs for companies that have previously relied on capital operations rather than genuine product development [7][8] - The company faces potential delisting risks if it continues to report negative profits and revenue below 100 million yuan for two consecutive years, with its recent performance indicating a troubling trend [8][9]

Core Viewpoint - The stock price of Jiaying Pharmaceutical is reported at 6.86 yuan, reflecting a decrease of 0.10 yuan or 1.44% from the previous trading day, with a trading volume of 0.62 billion yuan [1] Company Overview - Jiaying Pharmaceutical operates in the traditional Chinese medicine sector, focusing on the research, development, production, and sales of traditional Chinese medicine and chemical drugs [1] - The company has been advancing a dual-driven strategy of "traditional Chinese medicine characteristics + chemical drug innovation," enhancing its product matrix layout [1] Recent Developments - Jiaying Pharmaceutical has recently signed research and development cooperation agreements with multiple institutions, involving antihistamine drug Bilastine tablets and high-end generic drug projects JH002, JH003, and JH004 [1] - Bilastine is primarily used for the treatment of allergic rhinitis and urticaria, while JH003 and JH004 target hyperuricemia/gout and heart failure, respectively, further enriching the company's product line [1] Financial Insights - On the funding side, Jiaying Pharmaceutical experienced a net outflow of 2.5078 million yuan in main funds today, while the net inflow over the past five days was 7.7439 million yuan [1]

Core Viewpoint - Guangdong Jiaying Pharmaceutical Co., Ltd. is facing administrative penalties from the China Securities Regulatory Commission (CSRC) for failing to timely disclose related party transactions involving 220 million yuan [1][3][4] Group 1: Company Actions and Violations - Jiaying Pharmaceutical's chairman, Li Neng, is the actual controller of Hunan Yaojuneng Pharmaceutical Co., Ltd., which constitutes a related party [3] - From October 2024 to January 2025, Jiaying Pharmaceutical's subsidiary provided short-term loans to the related party, totaling 219.99 million yuan, which accounted for 28.83% of Jiaying Pharmaceutical's latest audited net assets [3][4] - The company did not follow the required procedures for related party transactions and failed to disclose these transactions in a timely manner [3][4] Group 2: Regulatory Response - The CSRC Guangdong Regulatory Bureau has determined that Jiaying Pharmaceutical's actions violate multiple provisions of the Securities Law, including failure to disclose related party transactions [4] - Proposed penalties include a warning and a fine of 1.5 million yuan for Jiaying Pharmaceutical, 1.6 million yuan for Li Neng, 1 million yuan for Yu Yongping, and 800,000 yuan for Shi Junping [5]

因近2.2亿元关联资金拆借未及时披露等，嘉应制药及相关责任人被给予警告，并处以罚单 投资时间网、标点财经研究员 王子西 资料来源：公司公告 拆借资金2.2亿元 8月3日晚间，嘉应制药（002198.SZ）公告称，公司及相关责任人李能（现任董事长）、游永平（现任董事、总经理）和史俊平（时任财务总监）于8月1 日收到广东证监局下发的《行政处罚事先告知书》。因近2.2亿元关联资金拆借（拆借时间2024年10月至2025年1月）未及时披露等，公司及上述责任人被 给予警告，并处以罚单。 值得注意的是，李能是上述违规行为直接负责的主管人，其于2024年8月23日被选举为董事长，任期三年。 嘉应制药及相关责任人被处罚公告 公告显示，今年5月28日，嘉应制药收到中国证监会下发的《立案告知书》。因涉嫌信披违法违规，证监会决定对公司立案。 高层频变动 业绩承压 近年来，嘉应制药的内部结构也发生了不少变化。 2024年7月，嘉应制药股东陈少彬与养天和签署协议，前者将持有的公司7%股份转让给后者，转让价款为3.55亿元。交易完成后，陈少彬持股比例降至 3.01%，养天和持股7%、成为公司第二大股东。 此案已由广东证监局调查完毕。经查 ...

Core Viewpoint - The chairman of Jiaying Pharmaceutical, Li Neng, is facing penalties for misappropriating company funds shortly after taking office, highlighting governance issues within the company [1][2][3]. Group 1: Regulatory Actions - Jiaying Pharmaceutical received an administrative penalty notice from the Guangdong Securities Regulatory Bureau, with potential fines amounting to 1.5 million yuan for the company and additional fines for Li Neng and other responsible parties [1][3]. - The investigation revealed that from October 2024 to January 2025, Jiaying Pharmaceutical's subsidiary provided short-term loans to a company controlled by Li Neng, totaling 220 million yuan, which constituted 28.83% of the company's audited net assets at that time [1][3]. Group 2: Company Background - Jiaying Pharmaceutical, established in 2003 and listed in December 2007, specializes in the research, production, and sales of traditional Chinese medicine, with a focus on proprietary and patented products [8]. - The company has experienced frequent changes in its major shareholders over the years, with the most recent change occurring in 2023 when Dongfang Securities became the largest shareholder [8]. Group 3: Financial Performance - The company's financial performance has been lackluster, with net profits showing minimal growth over the past five years, including a net profit of only 15.4 million yuan in the first quarter of 2025, despite a nearly twofold increase compared to the previous year [1][8]. - From 2020 to 2024, Jiaying Pharmaceutical's net profits were 19.84 million yuan, 1.48 million yuan, 43.93 million yuan, 34.32 million yuan, and 20.61 million yuan, indicating overall stagnant performance [8][9].

证券代码：002198 证券简称：嘉应制药 公告编号：2025-043 二、股份回购进展情况 截至2025年7月31日，公司通过股票回购专用证券账户以集中竞价方式已累 计回购公司股份9,240,000股，占公司目前总股本的1.8206%，回购的最高成交价 格为7.04元/股，最低成交价格为5.96元/股，成交总金额为62,258,006元（不含交 易费用）。 本次回购股份资金来源为公司自有资金，回购价格未超过回购方案中拟定的 价格上限9.80元/股。本次回购符合相关法律法规及公司既定回购股份方案的要求。 三、其他事项说明 公司将在回购期限内根据市场情况择机作出回购决策并予以实施，同时将根 据回购事项进展情况及时履行信息披露义务，敬请广大投资者注意投资风险。 特此公告。 广东嘉应制药股份有限公司董事会 广东嘉应制药股份有限公司 本公司及董事会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。 一、回购方案的主要内容 广东嘉应制药股份有限公司（以下简称"公司"）于2024年12月12日召开的 第七届董事会第四次临时会议，审议通过了《关于回购公司股份方案的议案》， 同意公司使用自有资金以集 ...

Core Viewpoint - Guangdong Jiaying Pharmaceutical (002198) has been penalized by regulatory authorities for violations related to related-party transactions and information disclosure [2][5][8]. Group 1: Regulatory Penalties - Jiaying Pharmaceutical was informed of an administrative penalty, including a fine of 1.5 million yuan and warnings for its chairman and other executives, totaling nearly 5 million yuan in penalties [5][6]. - The company engaged in short-term fund borrowing of 219 million yuan to a related party, Yao Juneng, without following the required approval and disclosure procedures [2][7]. Group 2: Financial Performance - In 2024, Jiaying Pharmaceutical reported a revenue of 376 million yuan, a year-on-year decline of 29.46%, marking the second consecutive year of double-digit revenue decline [7]. - The net profit attributable to shareholders was 20.61 million yuan, down 39.94% from the previous year, with a net profit margin dropping from 6.44% in 2023 to 5.48% in 2024 [7]. Group 3: Corporate Governance Issues - The company has faced multiple regulatory warnings in the past for information disclosure violations, indicating ongoing governance issues [8]. - Frequent changes in senior management have raised concerns, with the current chairman, Li Neng, assuming his role shortly before the company faced these violations [8][10]. Group 4: Market Position and Challenges - Jiaying Pharmaceutical has struggled with weak profitability since its listing, with core products experiencing significant sales declines due to national price adjustments in traditional Chinese medicine [9]. - The company has undergone multiple ownership changes, with the current major shareholder being Dongfang Securities, which acquired shares through debt settlement [10]. Group 5: Future Risks - The company and its second-largest shareholder, Yao Juneng, are facing challenges in a highly competitive market, with potential risks of delisting if regulatory issues persist [11].