Core Viewpoint - The company, Qizheng Tibetan Medicine, has successfully integrated its products into the medical insurance directory of Tibet, enhancing its market presence and aligning with local healthcare needs [2] Summary by Relevant Categories Product Inclusion - A total of 104 products from the company have been included in the Tibet medical insurance directory, which consists of 70 varieties such as pain relief patches and herbal medicines [2] - The inclusion of 103 types of national standard Tibetan medicines, 1,394 Tibetan medicine preparations, and 286 Tibetan medicinal pieces has been confirmed, reflecting a commitment to local healthcare [2] Market Development - The company anticipates that the Yaxia Hydropower Project will stimulate the local pharmaceutical industry, indicating potential growth opportunities [2] - Collaboration with professional medical institutions is planned to provide health management solutions for high-altitude diseases, showcasing the company's proactive approach to market needs [2]

Core Viewpoint - Qizheng Tibetan Medicine has not yet obtained the official "Project Medical Guarantee Procurement List" and is preparing to address diverse health needs in the Tibetan region, including both short-term and long-term health management risks [2] Group 1: Short-term Health Management - The company has prepared Red Jingtian Oral Liquid for managing acute altitude sickness and Xin Xin for addressing weakness [2] Group 2: Long-term Health Management - For long-term health risks, the company has secured 21 Tibetan medicine approvals for digestive metabolism issues and 11 for cardiovascular problems [2] - The company has also prepared 19 Tibetan medicine approvals for musculoskeletal diseases, including leading products like Qizheng Pain Relief Plaster, which utilizes unique wet application technology for better penetration and clinical efficacy [2] Group 3: Market Strategy - The company aims to ensure supply and meet market demand while focusing on brand development [2]

（文章来源：证券日报） 证券日报网讯奇正藏药7月29日在互动平台回答投资者提问时表示，公司1995年落户西藏林芝，扎根藏 区三十年，以千年藏药现代传承为己任，通过文化传承和科技创新带动传统藏药产业创新升级，是现代 藏药龙头企业。公司建立了成熟、稳定的药材资源供应链体系，在西藏自治区、青海省、四川省、甘肃 省等核心药材产区建立基地。截至2024年底，公司拥有以野生抚育为主的各类基地总面积达到502450 亩，广泛分布于不同行政区域、不同海拔梯度、不同生态类型的优质道地产区，确保公司药材资源供应 链安全、稳定、可持续。 ...

Core Viewpoint - The company confirms that its medicinal herb supply chain will not be affected by the construction of the Yaxia Hydropower Project, ensuring the sustainability and quality of its resources [2] Group 1: Company Operations - As of the end of 2024, the company will have a total area of 502,450 acres dedicated to various bases primarily focused on wild nurturing, distributed across different administrative regions, altitudes, and ecological types [2] - The company has emphasized sustainable management of medicinal herb resources and has established planting bases in multiple locations on the Qinghai-Tibet Plateau [2] Group 2: Strategic Initiatives - The bases are a core component of the company's "protective development" strategy, which aims to ensure the sustainability and stability of resource quality [2] - The construction of the Yaxia Hydropower Project will not impact the company's medicinal herb resource guarantee system, maintaining a secure, stable, and sustainable supply chain [2]

（文章来源：证券日报） 证券日报网讯奇正藏药7月29日在互动平台回答投资者提问时表示，奇正藏药始终致力于将高原地区千 年积累的医学智慧转化为现代科学的健康管理解决方案，公司密切关注雅鲁藏布江下游水电工程对藏区 资源的发展带动，并积极探索部署相关市场机遇。 ...

Group 1 - The company is focused on the development of traditional Tibetan medicine, particularly in addressing health needs related to high-altitude sickness and local diseases in the Tibet region [2] - The current research pipeline includes classic prescriptions and hospital preparations related to high-altitude medical care, with significant development in large-scale secondary development at the pre-IND stage [2] - The company collaborates with institutions such as Tibet Agricultural and Animal Husbandry University, Tibet University, and the Tibet Plateau Biological Research Institute on projects like the ecological planting technology integration and demonstration application of endangered and scarce Tibetan medicinal materials [2]

Core Viewpoint - Qizheng Tibetan Medicine (002287.SZ) has reversed its operating performance, showing significant growth in revenue and net profit in the first half of 2025 compared to the previous year [1][2]. Financial Performance - In the first half of 2025, the company achieved operating revenue of 1.175 billion yuan, a year-on-year increase of 16.36%, and a net profit attributable to shareholders of 358 million yuan, up 9.94% [1]. - The company's net profit for the second quarter reached 282 million yuan, marking a year-on-year increase of 23.68%, which is the best performance for the same period in the last three years [2]. - The first quarter of 2025 saw operating revenue of 403 million yuan, a 10.39% increase, but net profit decreased by 22.35% [1]. Historical Performance - Since its listing in 2009, Qizheng Tibetan Medicine has shown a consistent growth trend, with operating revenue increasing from 469 million yuan in 2009 to 2.338 billion yuan in 2024 [2]. - Cumulative net profit since listing amounts to 5.515 billion yuan [3]. Shareholder Returns - The company has actively returned profits to shareholders, distributing a total of 2.895 billion yuan in cash dividends over the past 16 years, with an average dividend payout ratio of 52.49% [3]. - The dividend-to-financing ratio since listing stands at 225.41% [4]. Financial Health - As of the end of the first quarter of 2025, the company's debt-to-asset ratio was 39.42%, with monetary funds of 523 million yuan and financial assets of 2.674 billion yuan [4][5].

Market Overview - The Chinese medicine sector rose by 1.0% on July 29, with Foci Pharmaceutical leading the gains [1] - The Shanghai Composite Index closed at 3609.71, up 0.33%, while the Shenzhen Component Index closed at 11289.41, up 0.64% [1] Top Gainers in Chinese Medicine Sector - Foci Pharmaceutical (002644) closed at 10.69, up 9.98% with a trading volume of 841,300 shares and a turnover of 876 million yuan [1] - Zhongsheng Pharmaceutical (002317) also rose by 9.98% to 19.73, with a trading volume of 1,168,400 shares and a turnover of 2.26 billion yuan [1] - Other notable gainers include: - Zhendong Pharmaceutical (300158) up 6.66% to 7.69 [1] - Huasen Pharmaceutical (002907) up 6.50% to 18.51 [1] - Kangjia Pharmaceutical (600557) up 5.61% to 16.58 [1] Top Losers in Chinese Medicine Sector - Qidi Pharmaceutical (000590) fell by 2.65% to 12.13, with a trading volume of 134,500 shares and a turnover of 163 million yuan [2] - Zhenbaodao (603567) decreased by 2.21% to 12.40, with a trading volume of 182,700 shares and a turnover of 227 million yuan [2] - Other notable losers include: - Yunnan Baiyao (000538) down 1.20% to 55.82 [2] - Kangmei Pharmaceutical (600518) down 0.94% to 2.10 [2] Capital Flow Analysis - The Chinese medicine sector saw a net inflow of 798 million yuan from institutional investors, while retail investors experienced a net outflow of 625 million yuan [2][3] - Notable net inflows from institutional investors include: - Zhongsheng Pharmaceutical (002317) with a net inflow of 308 million yuan [3] - Zhendong Pharmaceutical (300158) with a net inflow of 96.32 million yuan [3] - Conversely, significant net outflows from retail investors were observed in: - Zhongsheng Pharmaceutical (002317) with a net outflow of 98.88 million yuan [3] - Zhendong Pharmaceutical (300158) with a net outflow of 65.62 million yuan [3]

本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 证券代码：002287 证券简称：奇正藏药 公告编号：2025-050 债券代码：128133 债券简称：奇正转债 西藏奇正藏药股份有限公司 | | | | 单位：元 | | | --- | --- | --- | --- | --- | | 项目 | 本报告期 | 上年同期 | | 增减变动幅度（%） | | 营业总收入 | 1,175,031,545.29 | 1,009,833,674.27 | 16.36 | | | 营业利润 | 416,710,928.53 | 366,529,410.38 | 13.69 | | | 利润总额 | 399,917,158.99 | 365,162,439.71 | 9.52 | | | 归属于上市公司股东 | | | | | | 的净利润 | | | | | | 扣除非经常性损益后 | | | | | | 的归属于上市公司股 | 289,110,936.50 | 227,292,243.01 | | 27.20 | | 东的净利润 | | | | | | 基本每股收益 ...

Group 1: Company Performance - WuXi AppTec reported a net profit of 8.561 billion yuan for the first half of the year, a year-on-year increase of 101.92% [1] - The company's revenue for the first half reached 20.799 billion yuan, reflecting a growth of 20.64% year-on-year [1] - WuXi AppTec plans to distribute a cash dividend of 3.5 yuan per share to all shareholders [1] - The company has revised its revenue forecast for the full year to between 42.5 billion and 43.5 billion yuan [1] - SANY Heavy Industry plans to issue non-financial corporate debt financing tools not exceeding 20 billion yuan to optimize its financing structure [1] Group 2: Film Industry Impact - Happiness Blue Sea announced that the film "Nanjing Photo Studio" has surpassed 412 million yuan in cumulative box office, exceeding 50% of the company's audited revenue for the most recent fiscal year [2] - The film's impact on the company's revenue is currently negligible as it is still in theaters [2] Group 3: Corporate Actions - Zhonghua Equipment plans to issue shares to acquire 100% equity of two companies, marking a significant asset restructuring [2] - Dahua Intelligent is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure [3] - Shiming Technology's actual controller and chairman has been placed under detention due to personal matters unrelated to the company [4] Group 4: Financial Performance - Ju Chen Co. reported a net profit growth of 43.5% for the first half of the year [6] - Qizheng Tibetan Medicine's net profit increased by 9.94% year-on-year [6] - China Minmetals' new contract value decreased by 19.1% year-on-year [6] - Huicheng Environmental's net profit declined by 85.63% year-on-year [6] Group 5: Mergers and Acquisitions - Kaishan Holdings plans to acquire a minority stake in SMGP for 3 million USD [6] - Zhonghua International intends to purchase 100% equity of Nantong Xingchen Composite Materials Co., Ltd. [6] - Xiangdian Co. plans to acquire a 12.5% stake in Tongda Electromagnetic Energy for 208 million yuan [6]