证券代码：002287 证券简称：奇正藏药 公告编号：2025-094 西藏奇正藏药股份有限公司 关于回购公司股份的进展公告 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。 西藏奇正藏药股份有限公司（以下简称"公司"）于 2025 年 2 月 27 日召开 第六届董事会第九次会议，审议通过了《关于回购股份方案的议案》，同意公司 使用自有资金以集中竞价交易方式回购公司 A 股股份，回购的公司股份将用于股 权激励或员工持股计划。本次回购总金额为不低于人民币 9,000 万元（含）且不 超过人民币 16,000 万元（含），回购价格不超过 31.65 元/股（含），若按回购 总金额上、下限和回购股份价格上限测算，预计回购股份数量约为 284.36 万股 ——505.53 万股，约占公告日公司总股本的 0.5354%——0.9519%。具体回购金 额及回购数量以回购完成时实际使用的资金和回购股份数量为准。回购股份的实 施期限自董事会审议通过本次回购股份方案之日起不超过十二个月。详见 2025 年 3 月 3 日刊登在《证券时报》、巨潮资讯网（http://www.cn ...

Group 1 - The core point of the article is the resignation of Ms. Hu Yangding from her position as a non-employee representative supervisor at Qizheng Tibetan Medicine, while she will continue to hold other roles within the company [1] - As of the latest report, Qizheng Tibetan Medicine has a market capitalization of 14.9 billion yuan [3] - For the first half of 2025, the revenue composition of Qizheng Tibetan Medicine shows that the pharmaceutical industry accounts for 99.39% of its total revenue, with other sectors contributing only 0.61% [2]

Core Viewpoint - The company announced the resignation of non-employee representative supervisor Hu Yangding for personal reasons, who will continue to hold other positions within the company after resignation [1] Summary by Relevant Sections - Resignation Details - Hu Yangding has resigned from her position as a non-employee representative supervisor due to personal reasons [1] - After her resignation, she will still serve in other roles within the company [1] - Shareholding Status - As of the announcement date, Hu Yangding does not hold any shares in the company [1] - There are no unfulfilled commitments from Hu Yangding [1]

根据《公司法》、《深圳证券交易所股票上市规则》、《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》等法律法规及《公司章程》的 有关规定，虎尢丁女士的辞职不会导致公司监事会成员人数低于法定最低人数， 不会导致公司职工代表监事人数少于监事会成员的三分之一，不影响公司监事会 的正常运作，虎尢丁女士的辞职申请自其辞职报告送达公司监事会时生效。截至 本公告披露日，虎尢丁女士未持有本公司股份，且不存在应履行而未履行的承诺。 虎尢丁女士在公司任职期间勤勉尽责，公司对虎尢丁女士任职期间为公司所 做出的贡献表示衷心感谢。 股票代码：002287 股票简称：奇正藏药 公告编号：2025-093 西藏奇正藏药股份有限公司 关于监事辞职的公告 本公司及监事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 西藏奇正藏药股份有限公司（以下简称"公司"）监事会近日收到公司非职 工代表监事虎尢丁女士提交的书面辞职报告。虎尢丁女士因个人原因，申请辞去 公司非职工代表监事职务，辞职后将在公司担任其他职务。 特此公告。 西藏奇正藏药股份有限公司 监事会 二○二五年九月三十日 ...

Core Viewpoint - Qizheng Tibetan Medicine has experienced a decline in the number of shareholders for the second consecutive period, indicating potential shifts in investor sentiment and market dynamics [2] Shareholder Information - As of September 20, the number of shareholders for Qizheng Tibetan Medicine was 33,802, a decrease of 2,190 from the previous period (September 10), representing a decline of 6.08% [2] - This marks the second consecutive decline in the number of shareholders [2] Stock Performance - The closing price of Qizheng Tibetan Medicine on the reporting date was 26.48 yuan, reflecting an increase of 1.57%, although the stock has cumulatively decreased by 4.68% since the concentration of shares began [2] - The stock experienced one increase and eight decreases over the specific trading days [2] Financing and Margin Data - As of September 23, the latest margin trading balance for the stock was 178 million yuan, with the financing balance also at 178 million yuan [2] - Since the concentration of shares began, the financing balance has decreased by 31.9093 million yuan, a decline of 15.23% [2] Financial Performance - In the first half of the year, Qizheng Tibetan Medicine achieved operating revenue of 1.175 billion yuan, representing a year-on-year growth of 16.36% [2] - The net profit for the same period was 358 million yuan, reflecting a year-on-year increase of 10.04% [2] - The basic earnings per share were reported at 0.6756 yuan, with a weighted average return on equity of 8.58% [2]

Core Insights - The interview with Feng Ping, Senior Vice President of Qizheng Tibetan Medicine, emphasizes the importance of traditional Tibetan medicine and its integration with modern medical practices [2][3] - Qizheng Tibetan Medicine has experienced significant growth during the 14th Five-Year Plan, with a 36.3% increase in employee numbers and a substantial rise in revenue and net profit [5][6] Tibetan Medicine Theory - Tibetan medicine is based on a 3,800-year-old system that incorporates local natural medicine along with influences from Persian, Indian Ayurveda, and traditional Chinese medicine [4] - The core theory of Tibetan medicine revolves around the balance of three elements: Long (energy), Chiba (heat), and Peigen (water and earth), which are essential for maintaining health [4] Business Growth and Strategy - During the 14th Five-Year Plan, Qizheng Tibetan Medicine's revenue and net profit increased by 78.56% and 81.09%, respectively, compared to the previous five years [6] - The company has expanded its resource base significantly, with a 350% increase in the area of "wild nurturing" bases for medicinal plants [6] Research and Development - R&D investment has more than doubled during the 14th Five-Year Plan, with a 101% increase compared to the previous period [8] - Qizheng Tibetan Medicine is involved in key national projects, including treatments for major diseases like "White Pulse Disease," which corresponds to modern neurological conditions [8] Integration of Traditional and Modern Medicine - The company is focused on evidence-based research to validate the clinical efficacy of traditional Tibetan medicine, utilizing modern clinical research standards [9][10] - Qizheng Tibetan Medicine has developed new products based on traditional formulas, such as Qingpeng Ointment for dermatitis and Honghua Ruyuan Pill for gynecological issues [10] Sustainable Development and Cultural Heritage - The company has acquired a Tibetan hospital to enhance its clinical capabilities and has invested in building Tibetan medicine schools to train future practitioners [11] - Qizheng Tibetan Medicine aims to create a sustainable full industry chain, integrating manufacturing, healthcare, and retail to strengthen its competitive edge [12]

Core Viewpoint - The article discusses the development and achievements of Qizheng Tibetan Medicine during the "14th Five-Year Plan" period, emphasizing the integration of traditional Tibetan medicine with modern medical practices and the company's commitment to sustainable development and cultural heritage [2][17]. Group 1: Tibetan Medicine Theory - Tibetan medicine has a history of over 3,800 years, integrating local natural medicine with Persian, Indian Ayurveda, and traditional Chinese medicine to form a unique system [4]. - The core theory of Tibetan medicine is based on the "Three Causes" (Long, Chiba, and Peigen), which represent energy elements that influence health. Balance among these elements is crucial for preventing illness [4][5]. - Tibetan medicine incorporates the concept of "biological clock" in its treatment, advising patients on the timing of medication based on their conditions [4]. Group 2: Company Growth and Strategy - During the "14th Five-Year Plan," Qizheng Tibetan Medicine expanded its workforce by 36.3%, reaching over 3,000 employees [7]. - The company's revenue and net profit increased by 78.56% and 81.09%, respectively, compared to the previous five-year period [8]. - Qizheng has over 500,000 acres of wild nurturing bases for medicinal herbs, with a 350% increase in base area during the "14th Five-Year Plan" [8]. Group 3: Research and Development - R&D investment during the "14th Five-Year Plan" grew by 101% compared to the previous period [11]. - The company is involved in national key projects, including treatments for "White Pulse Disease," which corresponds to the nervous system in modern medicine [11]. - Qizheng is conducting clinical trials for its products, such as the combination therapy of Ruyi Zhenbao tablets and White Pulse ointment, showing efficacy in stroke recovery and diabetic neuropathy [11][12]. Group 4: Sustainable Development and Cultural Heritage - Qizheng acquired a Tibetan hospital to enhance its clinical capabilities and support the training of Tibetan medicine practitioners [16]. - The company has invested 1.2 billion yuan in establishing a pharmaceutical base in Gansu, enhancing its manufacturing capabilities [16]. - Qizheng's long-term vision is to become a sustainable, full-industry chain enterprise in Tibetan medicine, integrating manufacturing, healthcare, and retail [17].

Overview - The core viewpoint of the article highlights the growing demand for traditional Chinese medicine (TCM) transdermal patches due to their advantages such as no first-pass effect, minimal gastrointestinal damage, low toxicity, prolonged efficacy, and ease of use, particularly among populations that cannot take oral medications, like the elderly and children [1][4][8]. Market Size - The market size of TCM transdermal patches in China is projected to reach 14 billion yuan by 2024, accounting for 65.34% of the overall medicinal patch market [1][8]. Market Policies - The Chinese government has implemented various policies to support the development of the TCM industry, including measures to enhance scientific regulation, promote innovation, and improve healthcare quality from 2023 to 2025 [5][6]. Industry Chain - The upstream of the TCM transdermal patch industry includes suppliers of raw materials such as Chinese medicinal herbs, rubber, and various excipients, while the midstream consists of manufacturers of TCM transdermal patches, and the downstream includes medical institutions, retail pharmacies, and online pharmacies [6][7]. Sales Channels - Medical institutions are the primary sales channel for TCM transdermal patches, accounting for over 60% of sales. By the end of 2024, there will be approximately 1.092 million medical institutions in China, with a 2.0% year-on-year growth [7][8]. Competitive Landscape - The top five companies in the TCM transdermal patch market as of Q1 2025 include Qizheng Group, Yunnan Baiyao, Lingrui Pharmaceutical, Hillman Pharmaceutical, and China Resources Pharmaceutical, with Qizheng Group and Yunnan Baiyao leading the market [10][11]. Company Analysis - Qizheng Tibetan Medicine Co., Ltd. is a leading modern Tibetan medicine company with a revenue of 1.175 billion yuan in the first half of 2025, of which 824 million yuan (70.11%) comes from transdermal patch sales [12]. - Lingrui Pharmaceutical Co., Ltd. reported a total revenue of 2.099 billion yuan in the first half of 2025, with a gross profit of 1.707 billion yuan and a gross margin of 81.33% [13]. Development Trends - The demand for TCM transdermal patches is expected to grow due to the aging population and increasing prevalence of musculoskeletal and cardiovascular diseases. Additionally, the shift in health consciousness and the rise of online sales channels will further expand the market [13].

Core Viewpoint - Qizheng Tibetan Medicine has shown stable trading activity with a slight increase in financing buy-ins, indicating investor interest and potential growth in the company's stock performance [1][2]. Financing and Trading Activity - On September 17, Qizheng Tibetan Medicine's stock price remained unchanged at 0.00%, with a trading volume of 95.95 million yuan. The financing buy-in amounted to 10.52 million yuan, while the financing repayment was 8.26 million yuan, resulting in a net financing buy-in of 2.27 million yuan [1]. - As of September 17, the total financing and securities lending balance for Qizheng Tibetan Medicine was 189 million yuan, with the financing balance accounting for 1.21% of the circulating market value, indicating a high level compared to the past year [1]. - The company had no securities lent or repaid on the same day, with a remaining securities lending volume of 5,000 shares and a balance of 137,000 yuan, which is low compared to the past year [1]. Financial Performance - For the first half of 2025, Qizheng Tibetan Medicine reported a revenue of 1.175 billion yuan, reflecting a year-on-year growth of 16.36%. The net profit attributable to shareholders was 358 million yuan, marking a 10.04% increase compared to the previous year [2]. - Since its A-share listing, the company has distributed a total of 3.02 billion yuan in dividends, with 905 million yuan distributed over the last three years [3]. Shareholder Information - As of September 10, the number of shareholders for Qizheng Tibetan Medicine was 36,000, a decrease of 0.90% from the previous period. The average circulating shares per person increased by 1.10% to 15,864 shares [2]. - As of June 30, 2025, Hong Kong Central Clearing Limited was the fourth largest circulating shareholder, holding 2.9896 million shares, an increase of 919,900 shares from the previous period [3].

Market Overview - The Shanghai Composite Index closed at 3877.55 points, with a change of 0.41% [1] - The total trading volume of A-shares reached 1561.918 billion yuan [1] Technical Analysis - A total of 127 A-shares experienced a death cross, where the 5-day moving average fell below the 10-day moving average [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - COFCO Technology: 5-day MA at 11.41 yuan, 10-day MA at 11.52 yuan, difference of -0.92% [1] - Jiuri New Materials: 5-day MA at 27.35 yuan, 10-day MA at 27.59 yuan, difference of -0.86% [1] - Potential Energy Trust: 5-day MA at 20.44 yuan, 10-day MA at 20.59 yuan, difference of -0.77% [1] Individual Stock Performance - COFCO Technology: Today's change of 0.09%, trading volume of 1.13% [1] - Jiuri New Materials: Today's change of 1.49%, trading volume of 1.84% [1] - Potential Energy Trust: Today's change of 0.34%, trading volume of 1.64% [1] - Other notable stocks with death crosses include: - Tongzhou Electronics: Today's change of -0.42%, trading volume of 2.40% [1] - ST Long Pharmaceutical: Today's change of -2.50%, trading volume of 2.14% [1] - Jin Hong Shun: Today's change of -1.44%, trading volume of 2.07% [1]