Core Points - Jia Ying Pharmaceutical received an administrative penalty from the China Securities Regulatory Commission for illegal information disclosure and related party transactions [1][2][3] - The company and its chairman, Li Neng, were involved in short-term fund lending to a related party, Yao Juneng, without proper disclosure and approval [1][2] - The company reported a significant decline in revenue and net profit over the past two years, with 2024 revenue dropping by 29.46% year-on-year [3][4] Group 1: Regulatory Actions - Jia Ying Pharmaceutical was fined 1.5 million yuan, while Li Neng was fined 1.6 million yuan, totaling 4.9 million yuan in penalties for the violations [2] - The Guangdong Securities Regulatory Bureau issued a warning letter to the company for failing to disclose financial assistance and related party transactions [2][3] - The company acknowledged the violations and committed to enhancing compliance awareness [2] Group 2: Financial Performance - In 2024, Jia Ying Pharmaceutical's revenue was 37.6 million yuan, a decrease of 29.46% year-on-year, and the net profit dropped by 39.94% to 20.61 million yuan [3] - The company's gross margin fell from 75.31% in 2021 to 59.93% in 2024, indicating a declining profitability trend [3] - For the first three quarters of 2025, the company reported a revenue of 29.3 million yuan, a year-on-year increase of 13.0%, and a net profit of 21.79 million yuan, a significant increase of 658.5% [3][4]

Group 1 - The core issue involves regulatory actions taken against Jiaying Pharmaceutical for failing to disclose related party transactions properly, which amounted to approximately 8.7558 million yuan, representing 1.15% of the company's latest audited net assets [1] - The company and its executives, including the chairman and general manager, were found to have violated multiple provisions of the stock listing rules, indicating a lack of diligence and responsibility in their roles [1] - The company is urged to learn from this incident and ensure compliance with relevant laws and regulations, including the Securities Law and Company Law, to prevent future occurrences [1] Group 2 - For the first half of 2025, Jiaying Pharmaceutical's revenue composition was heavily weighted towards the pharmaceutical industry, accounting for 99.96%, with other businesses making up only 0.04% [2] - As of the report date, Jiaying Pharmaceutical's market capitalization was 3.4 billion yuan [2]

证券代码：002198 证券简称：嘉应制药 公告编号：2025-062 广东嘉应制药股份有限公司 关于公司及相关责任人收到《行政处罚决定书》的公告 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。 广东嘉应制药股份有限公司（以下简称"公司"）于 2025 年 5 月 28 日收到 中国证券监督管理委员会下发的《立案告知书》（编号：证监立案字 0062025010 号）。因公司涉嫌信息披露违法违规，根据《中华人民共和国证券法》《中华人民 共和国行政处罚法》等法律法规，中国证券监督管理委员会决定对公司立案。具 体内容详见公司于 2024 年 5 月 29 日披露在《证券时报》《中国证券报》《证券日 报》和巨潮资讯网（http://www.cninfo.com.cn）的《关于收到中国证券监督管理 委员会立案告知书的公告》（公告编号：2025-033）。 2025 年 8 月 1 日，公司及相关责任人收到中国证券监督管理委员会广东监 管局下发的《行政处罚事先告知书》（广东证监处罚字[2025]10 号），具体内容详 见公司于 2025 年 8 月 4 日在上述媒体披露的《关于 ...

证券代码：002198 证券简称：嘉应制药 公告编号：2025-063 广东嘉应制药股份有限公司 一、警示函主要内容 广东嘉应制药股份有限公司、李能、游永平、史俊平、肖巧霞： 经查，广东嘉应制药股份有限公司（以下简称嘉应制药或公司）存在以下信 息披露违规行为： 一、未按规定披露对外财务资助情况。2024年9月至2024年11月，嘉应制药 子公司嘉应制药（湖南）有限公司向三家非关联企业提供合计6500万元财务资助， 上述财务资助未按规定履行相关审议程序和披露义务，不符合《深圳证券交易所 上市公司自律监管指引第1号——主板上市公司规范运作（2023年12月修订）》第 6.1.3条第一款的规定，违反了《上市公司信息披露管理办法》（证监会令第182 号，下同）第三条第一款的规定。 二、未按规定披露公司日常关联交易情况。2024年，嘉应制药总经理游永平 弟媳刘某民为广东共合医药有限公司（以下简称共合医药）的控股股东，根据《上 市公司信息披露管理办法》第六十二条第四项的规定，共合医药构成嘉应制药的 关联方。2024年9月至2024年12月，嘉应制药与共合医药开展中成药交易，相关 关联交易涉及金额约875.58万元，占公司 ...

格隆汇11月21日｜嘉应制药公告，因公司涉嫌信息披露违法违规，根据《中华人民共和国证券法》《中 华人民 共和国行政处罚法》等法律法规，中国证券监督管理委员会决定对公司立案。 ...

嘉应制药公告，公司及相关人员于 2025年 11月 21日收到广东证监局出具的警示函。经查，嘉应制药存 在信息披露违规行为，包括未按规定披露对外财务资助情况和未按规定披露公司日常关联交易情况。 2024年 9月至 2024年 11月，嘉应制药子公司嘉应制药（湖南）有限公司向三家非关联企业提供合计 6500万元财务资助，未按规定履行相关审议程序和披露义务。2024年 9月至 2024年 12月，嘉应制药与 共合医药开展中成药交易，相关关联交易涉及金额约 875.58万元，占公司最近一期经审计净资产的 1.15%，上述关联交易未按规定履行相关审议程序和披露义务。 ...

嘉应制药公告，公司及相关责任人收到中国证券监督管理委员会广东监管局下发的《行政处罚决定 书》。因公司信息披露违法违规，被处以警告并罚款150万元；董事长李能罚款160万元；总经理游永平 罚款100万元；时任财务总监史俊平罚款80万元。公司表示，该处罚不会对公司生产经营产生重大影 响。 ...

Group 1: New Stock Offerings - Tianpu Co., Ltd. (Stock Code: 605255) has a tender offer period from November 20, 2025, to December 19, 2025[1] - Hangzhou Steam Turbine Co., Ltd. (Stock Code: 200771) has a cash option declaration period from November 19, 2025, to November 25, 2025[1] - Central Plaza (Stock Code: 600280) announced on November 20, 2025[1] Group 2: Stock Performance Alerts - Moen Electric (Stock Code: 002451) reported severe abnormal fluctuations on November 14, 2025[1] - ST Yuancheng (Stock Code: 603388) reported severe abnormal fluctuations on November 11, 2025[1] - ST Keli Da (Stock Code: 603828) reported severe abnormal fluctuations on November 12, 2025[1] Group 3: Recent Announcements - Jiumuwang (Stock Code: 601566) announced on November 20, 2025[1] - Taiping Bird (Stock Code: 603877) announced on November 20, 2025[1] - Huaci Co., Ltd. (Stock Code: 001216) announced on November 20, 2025[1]

证券之星消息，11月19日中药板块较上一交易日下跌1.28%，嘉应制药领跌。当日上证指数报收于 3946.74，上涨0.18%。深证成指报收于13080.09，下跌0.0%。中药板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 300391 | *ST长药 | 2.36 | 6.79% | 57.94万 | 1.32亿 | | 000538 | 云南白药 | 56.40 | 0.02% | 5.61万 | 3.16亿 | | 300181 | 佐力药业 | 17.30 | -0.17% | 4.21万 | 7276.54万 | | 000423 | 东阿阿胶 | 48.31 | -0.21% | 3.02万 | 1.46亿 | | 600750 | 江中药业 | 21.94 | -0.27% | 4.99万 | 1.10亿 | | 600436 | 片仔瘦 | 176.21 | -0.39% | 1.12万 | 1.97亿 | | 600285 | 羚锐制药 | 22.16 ...

Macro Strategy - Recent international gold prices are fluctuating at high levels, with domestic jewelry gold prices also remaining elevated. There is a new trend in gold consumption favoring lighter products like gold bars. Short-term gold prices are expected to maintain high volatility. Consumers should pay attention to international gold price fluctuations if investing, and choose purchasing timing based on their budget for wearing needs [2][3] - From January to October, the national general public budget revenue reached 18.649 trillion yuan, a year-on-year increase of 0.8%. The national general public budget expenditure was 22.5825 trillion yuan, a year-on-year increase of 2%. Securities transaction stamp duty revenue was 162.9 billion yuan, a year-on-year increase of 88.1% [2] - By the end of 2024, the total asset scale of urban commercial banks in China is projected to be 60.15 trillion yuan, a 134-fold increase since 1995, accounting for 13.53% of the banking financial institutions, with a market share increase of 8.24 percentage points. The non-performing loan ratio is 1.76%, and the provision coverage ratio is 188.08% [2] Industry and Company Medical Services Industry - The medical and biological sector rose by 3.29%, ranking fifth among the 31 first-level industries. The Shanghai and Shenzhen 300 Index fell by 1.08%, indicating that the medical sector outperformed the index by 4.37 percentage points [6] - The PE (ttm) of the medical services sector is 33.47X, with a PB (lf) of 3.37X. The PE increased by 0.51X and the PB increased by 0.05X compared to the previous week [7][8] - The TIDES CRDMO market is expected to grow significantly, with the global market projected to increase from 2.1 billion USD in 2018 to 5.5 billion USD in 2023, with a CAGR of 20.9%, and further to 37.3 billion USD by 2032, with a CAGR of 23.8%. The Chinese market is expected to grow from 200 million USD in 2018 to 800 million USD in 2023, with a CAGR of 37.1%, and to 6.2 billion USD by 2032, with a CAGR of 25.5% [9] - Investment recommendations for the medical services sector include focusing on high-growth companies in the ADC CDMO and TIDES CDMO areas, as well as companies in the third-party testing laboratories and consumer medical sectors [10] Traditional Chinese Medicine Industry - The traditional Chinese medicine sector rose by 4.08%, ranking third among secondary sub-sectors. Companies such as Te Yi Pharmaceutical and Zhongsheng Pharmaceutical performed well, while others like *ST Changyao and ST Huluwa performed poorly [12] - The PE (ttm) for the traditional Chinese medicine sector is 29.25X, with a PB (lf) of 2.47X, indicating a slight increase from the previous week [13][14] - The market for traditional Chinese medicinal materials is experiencing volatility, with an overall supply surplus due to increased arrivals from new harvests. Recent weather conditions have also impacted harvesting [15] - The steady advancement of centralized procurement in the traditional Chinese medicine industry aims to reduce patient medication costs and shift competition towards cost control and quality standards [16][17] - Investment recommendations for the traditional Chinese medicine sector include focusing on companies with competitive advantages in product quality and cost, as well as those benefiting from national reforms and centralized procurement policies [18][19]