Core Insights - The company reported a third-quarter revenue of 348 million, representing a decline of 24.69% compared to the previous year [1] - The net profit for the third quarter was 65.12 million, down 3.79% year-over-year [1] - For the first three quarters, the company achieved a revenue of 1.523 billion, an increase of 3.48% compared to the same period last year [1] - The net profit for the first three quarters was 424 million, reflecting a growth of 7.66% year-over-year [1]

Financial Performance - Q3 2025 revenue was CNY 347,888,464.29, a decrease of 24.69% year-on-year[5] - Net profit attributable to shareholders was CNY 65,124,856.92, down 3.79% compared to the same period last year[5] - The net profit after deducting non-recurring gains and losses was CNY -7,544,342.43, a decline of 117.45% year-on-year[5] - Total operating revenue for the current period reached CNY 1,522,943,818.43, an increase of 3.6% compared to CNY 1,471,754,788.04 in the previous period[22] - Net profit for the current period was CNY 423,563,245.08, representing a growth of 7.4% from CNY 394,368,379.14 in the previous period[23] - The company reported a total comprehensive income of CNY 421,758,079.64, up from CNY 393,965,532.03 in the previous period[23] Assets and Liabilities - Total assets at the end of the reporting period were CNY 6,638,345,939.71, a decrease of 2.24% from the end of the previous year[5] - The total assets of the company as of September 30, 2025, amounted to RMB 6,638,345,939.71, a decrease from RMB 6,790,420,367.07 at the beginning of the period[20] - The company's current assets totaled RMB 4,056,960,926.68, down from RMB 4,154,300,034.09 at the beginning of the period[20] - The company's total liabilities decreased from RMB 2,677,107,646.35 to RMB 1,787,330,256.63, indicating a significant reduction in debt[21] - The company's equity increased from RMB 1,066,313,720.72 to RMB 1,850,015,683.08, reflecting a strong improvement in financial health[21] Cash Flow - The company's cash flow from operating activities for the year-to-date was CNY 502,538,743.19, an increase of 117.35%[5] - The company reported a significant increase in cash and cash equivalents, rising by 49.63% to CNY 283,684,244.09[9] - The company reported a significant increase in operating cash flow, reaching ¥502.54 million, up 117.35% from the previous period[10] - Cash flow from investment activities showed a net cash inflow of $18.38 million, a significant improvement from a net outflow of $323.64 million in the previous period[25] - Cash flow from financing activities resulted in a net cash outflow of $425.02 million, compared to a net inflow of $20.19 million last year[25] - The total cash and cash equivalents at the end of the period amounted to $283.68 million, down from $315.88 million in the previous year[25] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 32,745, with the largest shareholder, Gansu Qizheng Industrial Group Co., Ltd., holding 63.72% of shares[11] - The company approved a share repurchase plan with a total amount not less than RMB 90 million and not exceeding RMB 160 million, with a maximum repurchase price of RMB 31.65 per share, potentially repurchasing approximately 284,360 to 505,530 shares, representing about 0.5354% to 0.9519% of the total share capital[14] - As of September 30, 2025, the company repurchased 2,673,910 shares at a total cost of approximately RMB 58.92 million, with a maximum price of RMB 23.00 and a minimum price of RMB 20.31 per share, accounting for 0.47% of the total share capital[16] Operational Metrics - Accounts receivable increased by 168.00% to CNY 253,272,585.61 due to credit policy adjustments[9] - Inventory increased by 51.17% to CNY 280,157,615.32, reflecting higher stock levels[9] - The company recorded a 62.43% increase in other income, amounting to ¥108.24 million, mainly due to an increase in government subsidies received[10] - The company’s investment income decreased by 155.74%, resulting in a loss of ¥5.96 million, attributed to long-term equity investment losses[10] - The company’s total capital reserve increased by 183.37% to ¥1.40 billion, primarily due to the conversion of convertible bonds[10] - The company reported a 342.33% increase in asset impairment losses, totaling ¥586.63 million, due to the reversal of inventory depreciation provisions[10] Research and Development - Research and development expenses increased to CNY 49,651,178.73, up from CNY 41,773,785.26, reflecting a commitment to innovation[22] Miscellaneous - The company did not undergo an audit for the third quarter financial report[26]

董事会战略投资与 ESG 委员会工作细则 第四条 战略投资与ESG委员会委员由董事长、二分之一以上独立董事或者全 体董事的三分之一提名，并由董事会选举产生。 第五条 战略投资与ESG委员会设主任委员（召集人）一名，由董事长担任， 负责主持委员会工作。 西藏奇正藏药股份有限公司 第一章 总 则 第一条 为适应西藏奇正藏药股份有限公司（以下简称"公司"）的战略发 展需要，增强公司核心竞争力和可持续发展能力，确定公司发展规划，健全投资 决策程序，加强决策科学性，提高重大投资决策的效益和决策的质量，提升公司 ESG（环境、社会责任和公司治理）管理水平，完善公司治理结构，根据《中华 人民共和国公司法》、《上市公司独立董事管理办法》、《深圳证券交易所上市 公司自律监管指引第17号——可持续发展报告（试行）》、《深圳证券交易所上 市公司自律监管指南第3号——可持续发展报告编制》、《西藏奇正藏药股份有 限公司章程》（以下简称"《公司章程》"）及有关规定，董事会特设立战略投 资与ESG委员会，并制定本细则。 第二条 战略投资与ESG委员会是董事会按照股东会决议设立的专门工作机 构，主要负责对公司长期发展战略、重大投资决策和ES ...

Group 1 - The core viewpoint of the article highlights that the aging population is leading to an increase in the incidence of arthritis and pain, which is driving the expansion of the traditional Chinese medicine patch market [1] - The company, Qizheng Zangyao, indicates that the demand for external pain relief products, including pain relief patches, will continue to rise due to heightened health consumption awareness among consumers [1]

Core Viewpoint - The company, Qizheng Tibetan Medicine, has confirmed the availability of its product "Qizheng Xigai Wang Baihe Kang Amino Glucosamine Sulfate Chondroitin Calcium Capsules," which is designed to enhance bone density [2] Company Summary - Qizheng Tibetan Medicine has engaged with investors on an interactive platform, providing insights into its product offerings [2] - The specific product mentioned is aimed at promoting health benefits related to bone density [2]

Core Viewpoint - The company, Qizheng Tibetan Medicine, is experiencing stable stock performance despite external economic uncertainties, with minimal impact on production costs and profits due to its limited exposure to U.S. imports [1]. Company Performance - As of October 15, 2025, Qizheng Tibetan Medicine's stock closed at 26.73 yuan, reflecting a 0.3% increase with a turnover rate of 0.8% and a trading volume of 45,900 shares, resulting in a transaction value of 1.22 billion yuan [1]. - The company reported that foreign business revenue accounted for only 0.05% of total revenue in the first half of 2025, indicating that changes in U.S. policies will have a negligible effect on overall income [1]. Market Sentiment - On October 15, 2025, the net inflow of main funds into the stock was 7.38 million yuan, while speculative funds also saw a net inflow of 7.24 million yuan, suggesting a positive market sentiment towards the stock [1]. - Retail investors, however, showed a net outflow of 14.63 million yuan, indicating a divergence in investment behavior among different investor classes [1].

Core Viewpoint - The company has stated that it does not directly import raw materials from the United States, and changes in U.S. policies will not affect its production costs [1] Group 1 - The company's foreign business revenue accounted for only 0.05% of total revenue in the first half of 2025, indicating that policy changes will have a minimal impact on its income [1] - Overall risk is considered manageable for the company [1]

Buyback Plan Overview - The company approved a share buyback plan on February 27, 2025, with a total amount between 90 million yuan and 160 million yuan, and a maximum buyback price of 31.65 yuan per share, estimating to repurchase approximately 2.84 million to 5.06 million shares, representing about 0.5354% to 0.9519% of the total share capital as of the announcement date [1] - The buyback period is set to last no more than twelve months from the board's approval date [1] - Due to the company's 2024 annual equity distribution, the maximum buyback price was adjusted to 31.27 yuan per share starting July 10, 2025, and further adjusted to 31.05 yuan per share from September 22, 2025 [1] Latest Buyback Progress - As of September 30, 2025, the company repurchased 2,673,910 shares, accounting for 0.47% of the total share capital, with a total transaction amount of approximately 58.92 million yuan, and the buyback prices ranged from 20.31 yuan to 23.00 yuan per share [2] - On June 4, 2025, the company transferred 581,460 shares to the 2024 employee stock ownership plan, leaving 2,092,450 shares in the buyback account as of September 30, 2025 [2] Compliance Statement - The company's share buyback activities comply with relevant regulations regarding timing, quantity, price, and trading methods, ensuring no repurchases occurred during periods of significant price impact or other restricted conditions [3] Future Plans - The company plans to continue the buyback program in accordance with market conditions and will disclose information in a timely manner as required by regulations [4]

Core Viewpoint - Qizheng Tibetan Medicine (002287.SZ) announced a share buyback program, repurchasing 2,673,910 shares, which represents 0.47% of the total share capital, with a total transaction amount of approximately 58.92 million yuan [1] Summary by Relevant Sections - **Share Buyback Details** - The company repurchased shares through a special securities account via centralized bidding [1] - The highest transaction price was 23.00 yuan per share, while the lowest was 20.31 yuan per share [1] - The total amount spent on the buyback was 58,923,491.93 yuan, excluding transaction fees [1] - **Funding and Compliance** - The funds for the buyback were sourced from the company's own funds [1] - The buyback prices did not exceed the established upper limit [1] - The buyback is in accordance with the company's predetermined share repurchase plan and relevant laws and regulations [1]

Group 1 - The company Qizheng Tibetan Medicine (SZ 002287) announced a share buyback of approximately 2.67 million shares, representing 0.47% of its total share capital, with a total transaction amount of about 58.92 million yuan [1] - The highest transaction price during the buyback was 23 yuan per share, while the lowest was 20.31 yuan per share [1] - As of the report date, the market capitalization of Qizheng Tibetan Medicine is 15.1 billion yuan [1] Group 2 - For the first half of 2025, the company's revenue composition shows that the pharmaceutical sector accounts for 99.39%, while other sectors contribute 0.61% [1]