Group 1 - The company is currently in the market development stage for its toothpaste business, specifically the Xigua Frost toothpaste under its subsidiary, Daily Chemical Health Products [2] - The expected sales for the toothpaste in 2024 are nearly 40 million yuan, which represents a small proportion of the company's overall revenue, indicating limited contribution to performance improvement [2] - The company plans to continue optimizing its product structure, accelerate the layout of distribution channels, actively expand e-commerce channels, and enhance the terminal brand image to achieve stable and continuous sales growth [2]

格隆汇9月23日丨桂林三金(002275.SZ)在投资者互动平台表示，西瓜霜牙膏为旗下子公司日化健康产 品，目前尚处于市场开拓阶段，根据2024年度销售情况，牙膏销售额近四千万元，占公司总体营收比例 较小，对业绩提升贡献有限，未来公司将继续优化产品结构，加快流通渠道布局，积极拓展电商渠道， 完善终端品牌形象，争取实现销量持续稳定增长。 ...

格隆汇9月23日丨桂林三金(002275.SZ)在投资者互动平台表示，西瓜霜牙膏为旗下子公司日化健康产 品，目前尚处于市场开拓阶段，根据2024年度销售情况，牙膏销售额近四千万元，占公司总体营收比例 较小，对业绩提升贡献有限，未来公司将继续优化产品结构，加快流通渠道布局，积极拓展电商渠道， 完善终端品牌形象，争取实现销量持续稳定增长。 ...

Company Overview - Guilin Sanjin Pharmaceutical Co., Ltd. is located in the Lingui District of Guilin City, Guangxi Zhuang Autonomous Region, established on February 23, 1994, and listed on July 10, 2009 [2] - The company specializes in the research, production, and sales of traditional Chinese medicine products, including throat and oral medications, anti-urinary tract infection drugs, and cardiovascular drugs, along with other natural medicines and biological preparations [2] - The main business revenue composition is as follows: Industrial 97.26%, Commodity circulation 2.37%, Other 0.38% [2] Stock Performance - As of September 23, the stock price of Guilin Sanjin fell by 2.11%, trading at 14.35 CNY per share, with a total market capitalization of 8.432 billion CNY [1] - Year-to-date, the stock price has decreased by 2.65%, with a 4.01% drop over the last five trading days and a 7.66% decline over the last 20 days [2] - The stock has appeared on the "Dragon and Tiger List" once this year, with the last appearance on January 7, where it recorded a net buy of -177.741 million CNY [2] Financial Performance - For the first half of 2025, Guilin Sanjin reported a revenue of 999.8 million CNY, a year-on-year decrease of 6.56%, and a net profit attributable to shareholders of 287 million CNY, down 4.70% year-on-year [3] - The company has distributed a total of 4.592 billion CNY in dividends since its A-share listing, with 1.175 billion CNY distributed over the last three years [4] Shareholder Information - As of September 10, the number of shareholders for Guilin Sanjin was 21,800, a decrease of 0.78% from the previous period, with an average of 25,628 circulating shares per shareholder, an increase of 0.78% [3] - As of June 30, 2025, Hong Kong Central Clearing Limited was the third-largest circulating shareholder, holding 6.3037 million shares, an increase of 1.8371 million shares from the previous period [4] Market Position - Guilin Sanjin is classified under the pharmaceutical and biological industry, specifically in the traditional Chinese medicine sector [2] - The company is associated with several concept sectors, including anti-influenza, traditional Chinese medicine, small-cap stocks, innovative drugs, and margin financing [2]

Core Viewpoint - Guilin Sanjin experienced a slight decline in stock price and trading volume on September 17, with a focus on financing and margin trading activities, indicating a mixed sentiment among investors [1][2]. Financing Summary - On September 17, Guilin Sanjin had a financing buy-in amount of 5.23 million yuan, with a net financing purchase of 1.048 million yuan after 4.18 million yuan was repaid [1]. - The total financing and margin trading balance reached 13.8 million yuan, with financing balance accounting for 1.57% of the circulating market value, indicating a high level compared to the past year [1]. - The company’s financing balance of 1.37 billion yuan is above the 80th percentile of the past year, suggesting strong investor interest [1]. Margin Trading Summary - On the same day, Guilin Sanjin repaid 1,900 shares in margin trading and sold 200 shares, with the selling amount calculated at 2,972 yuan [1]. - The margin trading balance stood at 175,300 yuan, which is below the 50th percentile of the past year, indicating a lower level of margin trading activity [1]. Company Overview - Guilin Sanjin Pharmaceutical Co., Ltd. was established on February 23, 1994, and listed on July 10, 2009, focusing on the research, production, and sales of traditional Chinese medicine products related to throat and oral medications, urinary tract infection treatments, and cardiovascular drugs [1]. - The company’s main business revenue composition is 97.26% from industrial operations, 2.37% from commodity circulation, and 0.38% from other sources [1]. Financial Performance - For the first half of 2025, Guilin Sanjin reported an operating income of 998 million yuan, a year-on-year decrease of 6.56%, and a net profit attributable to shareholders of 287 million yuan, down 4.70% year-on-year [2]. - The company has cumulatively distributed 4.592 billion yuan in dividends since its A-share listing, with 1.175 billion yuan distributed over the past three years [3]. Shareholder Information - As of September 10, the number of shareholders for Guilin Sanjin was 21,800, a decrease of 0.78% from the previous period, while the average circulating shares per person increased by 0.78% to 25,628 shares [2]. - As of June 30, 2025, Hong Kong Central Clearing Limited was the third-largest circulating shareholder, holding 6.3037 million shares, an increase of 1.8371 million shares from the previous period [3].

Group 1 - The company, Guilin Sanjin (002275), reported that as of September 10, 2025, the total number of shareholders is 21,813 [1]

Core Viewpoint - Guilin Sanjin is actively pursuing the development of its biopharmaceutical business despite facing short-term challenges, while maintaining a stable dividend policy to ensure returns for investors [2][4]. Biopharmaceutical Business - The biopharmaceutical sector is a crucial part of Guilin Sanjin's "one body, two wings" strategy, but it is currently experiencing a downturn due to long R&D cycles, high investment costs, and significant risks [2]. - Bai Fan Bio is affected by the investment environment and intense competition, leading to idle capacity in the CDMO supply side [2]. - Despite a substantial increase in business development and customer resource accumulation compared to 2023, the company is still far from achieving large-scale production, which impacts profitability [2]. - Baochuan Bio has several projects in the new drug development stage with no products on the market, resulting in small revenue and underutilized capacity [2]. - To control costs, Guilin Sanjin is optimizing personnel structures and hiring professional consulting firms to reduce losses, while also focusing on promising projects like the BC006 monoclonal antibody injection, which is nearing completion of Phase I clinical trials [2]. Development of Second and Third-Line Products - The development trend for second and third-line products is positive, with the company maintaining its support for these products [3]. - The sales of the Gecko Cough Capsule showed ideal growth last year and are expected to continue this year, although growth may slow as the scale increases [3]. - The sales of the Dizziness Ning series surpassed 100 million yuan in 2021, with future growth prospects better than first-line products [3]. Dividend Policy - Guilin Sanjin is committed to providing stable returns to investors and has consistently implemented a cash dividend policy since its listing [4]. - The company considers its operational and sustainable development capabilities to maintain stable operating cash flow, ensuring daily operations and growth [4]. - Generally, the dividend policy remains unchanged unless there are special funding needs [4].

Group 1: Company Performance and Strategy - The biopharmaceutical sector is a crucial part of the company's dual-wing strategy, facing high investment and long R&D cycles, with the industry currently experiencing a downturn [2] - The company has seen significant growth in business development and customer resource accumulation in 2023, although it still falls short of scale production requirements [2] - The company is optimizing costs and expenses for its subsidiaries, aiming to minimize losses while focusing on promising projects like the BC006 monoclonal injection, which is nearing completion of Phase I clinical trials [2] Group 2: Product Line Development - The overall development trend for the company's second and third-line products is positive, with continued support for these products [3] - The sales of the "Gaqi Dingtuan Capsule" showed ideal growth last year and are expected to continue this year, although growth may slow as the scale increases [3] - The "Dizziness Ning" series surpassed 100 million yuan in sales in 2021, with a goal of achieving double-digit growth this year [3] Group 3: Dividend Policy - The company has consistently implemented a cash dividend policy since its listing, aiming to provide stable returns to investors [3] - The company maintains a stable operating cash flow to support daily operations and development, ensuring sufficient cash for dividends unless special funding needs arise [3]

Core Viewpoint - Guilin Sanjin announced that the company and its subsidiaries have not provided guarantees to any external units in the consolidated financial statements, nor do they have overdue debts related to guarantees, litigation guarantee amounts, or guarantee amounts due to losing lawsuits [1] Summary by Relevant Categories - **Company Guarantees**: The company confirmed that it has not provided any guarantees to external units in its consolidated financial statements [1] - **Debt Status**: There are no overdue debts corresponding to guarantees, indicating a stable financial position [1] - **Litigation and Legal Risks**: The company reported no amounts related to guarantees involving litigation or any obligations arising from losing legal cases [1]

Summary of Key Points Core Viewpoint - Guilin Sanjin Pharmaceutical Co., Ltd. has provided a guarantee for its wholly-owned subsidiary, Baoshan Biological Pharmaceutical Technology (Shanghai) Co., Ltd., amounting to RMB 20 million, which is part of a total guarantee limit of up to RMB 270 million approved by the board and shareholders [1][2][3]. Group 1: Guarantee Overview - The actual guarantee balance for the company and its subsidiaries is RMB 300.6 million, accounting for 9.99% of the latest audited net assets [1][3]. - Baoshan Biological has an asset-liability ratio exceeding 70% [1][2]. - The guarantee is structured as a joint liability guarantee for a credit limit application to Xiamen International Bank Shanghai Branch [1][3]. Group 2: Approval Process - The guarantee limit was approved during the 13th meeting of the 8th Board of Directors on April 24, 2025, and at the 2024 Annual General Meeting on May 16, 2025 [2]. - The total guarantee amount for Baoshan Biological and another subsidiary, Baifan Biological, is capped at RMB 270 million, with the guarantee methods including joint liability and collateral [2]. Group 3: Guarantee Agreement Details - The guarantor is Guilin Sanjin Pharmaceutical Co., Ltd., the creditor is Xiamen International Bank Shanghai Branch, and the debtor is Baoshan Biological [3]. - The guarantee covers all principal debts, interest, penalties, and related costs, with a guarantee period extending three years from the debt fulfillment deadline [3].