| 证券代码：002287 | 证券简称：奇正藏药 | 公告编号：2025-084 | | --- | --- | --- | | 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 关于提前赎回"奇正转债"实施暨即将停止转股的重要提示性公告 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。 特别提示： 1、"奇正转债"赎回价格：101.701元/张（含当期应计利息，当期年利率为 1.80%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任公司 深圳分公司（以下简称"中登公司"）核准的价格为准。 5、"奇正转债"停止转股日：2025年9月3日 重要内容提示： 1、最后转股日：2025年9月2日 因"奇正转债"已停止交易，本公司特提醒投资者在期限内转股。2025年9 月2日是"奇正转债"最后一个转股日，当日收市前，持有"奇正转债"的投资 者仍可进行转股；2025年9月2日收市后，未转股的"奇正转债"将停止转股。 2、截至2025年9月1日收市后，距离"奇正转债"停止转股并赎回仅剩1个交 易日。如投资者未及时转股，可能面临损 ...

| 证券代码：002287 | 证券简称：奇正藏药 | 公告编号：2025-085 | | --- | --- | --- | | 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 关于为全资子公司提供担保的进展公告 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。 一、担保情况概述 二、担保进展情况 近日，公司与中信银行股份有限公司拉萨分行（以下简称"中信银行"）签 订《最高额保证合同》，公司为西藏营销履行债务提供最高额保证担保，担保的 债权最高额限度为债权本金 2 亿元整和相应的利息及其他所有应付的费用之和。 具体办理事宜由公司财务部执行。 本次担保后公司为子公司贷款担保额度使用情况如下： 单位：万元 | 担保方 | 被担保方 | 担保方 | 被担保方最 | 经股东会审 | 本次使 | 截至目 | 是否关 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 持股比 | 近一期资产 | 议通过的担 | 用的担 | 前担保 | 联担保 | | | | 例 | 负债率 ...

| 证券代码：002287 | 证券简称：奇正藏药 | 公告编号：2025-083 | | --- | --- | --- | | 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 关于提前赎回"奇正转债"实施暨即将停止转股的重要提示性公告 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。 重要内容提示： 1、最后转股日：2025年9月2日 因"奇正转债"已停止交易，本公司特提醒投资者在期限内转股。2025年9 月2日是"奇正转债"最后一个转股日，当日收市前，持有"奇正转债"的投资 者仍可进行转股；2025年9月2日收市后，未转股的"奇正转债"将停止转股。 2、截至2025年8月29日收市后，距离"奇正转债"停止转股并赎回仅剩2个 交易日。如投资者未及时转股，可能面临损失。敬请投资者仔细阅读本公告内 容，并关注相关风险。 特别提示： 1、"奇正转债"赎回价格：101.701元/张（含当期应计利息，当期年利率为 1.80%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任公司 深圳分公司（以下简称"中登公司"）核准的价格 ...

Key Points - The company has announced the early redemption of its convertible bonds "Qizheng Convertible Bonds" due to the current market conditions and the company's situation [2][7] - The last conversion date for the "Qizheng Convertible Bonds" is September 2, 2025, after which unconverted bonds will be redeemed [1][10] - The redemption price for the bonds is set at 101.701 CNY per bond, which includes accrued interest [9][10] - The total issuance of the convertible bonds was 800 million CNY, with each bond having a face value of 100 CNY [2][3] - The conversion period for the bonds started on March 29, 2021, and will end on September 21, 2026 [3] - The conversion price has been adjusted multiple times, with the latest adjustment setting it at 19.01 CNY per share as of July 10, 2025 [7][9] - The company has triggered the conditional redemption clause, as the stock price has been above 130% of the conversion price for a specified period [7][9] - Bondholders must convert their bonds through the securities company that holds their bonds before the deadline to avoid forced redemption [11][12]

证券代码：002287 证券简称：奇正藏药 公告编号：2025-080 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 关于"奇正转债"即将停止交易暨最后半个交易日 的重要提示性公告 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。 重要内容提示： 截至本公告披露时，"奇正转债"距离停止交易仅剩最后半个交易日（2025 年8月28日下午交易时段），本日"奇正转债"简称已变更为"Z正转债"。2025 年8月28日收市后"奇正转债"将停止交易。 债"的投资者仍可进行转股；2025年9月2日收市后，未转股的"奇正转债"将停 止转股。 交易日。本公司特提醒投资者仔细阅读本公告内容，关注相关风险，谨慎交易"奇 正转债"。 特别提示： "奇正转债"赎回价格：101.701元/张（含当期应计利息，当期年利率为 深圳分公司（以下简称"中登公司"）核准的价格为准。 赎回。本次赎回完成后，"奇正转债"将在深圳证券交易所摘牌，特提醒"奇正 转债"债券持有人注意在限期内转股。债券持有人持有的"奇正转债"如存在被 质押或被冻结的，建议在停止转股日前解除质押或冻结，以 ...

| 信息披露义务人 | 甘肃奇正实业集团有限公司；西藏宇妥文化发展有限公司 | | --- | --- | | 住所 | 甘肃省兰州市城关区(高新开发区)张苏滩 808 号；拉萨市慈松塘 路以北、教师新村以西 | | 权益变动时间 | 2025 年 8 月 15 日—2025 年 8 月 28 日 | 一、本次权益变动情况 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。 特别提示： 1、本次权益变动系西藏奇正藏药股份有限公司（以下简称"公司"）发行 的可转换公司债券"奇正转债"进行转股，公司总股本发生变化，导致公司控股 股东甘肃奇正实业集团有限公司（以下简称"奇正集团"）及其一致行动人西藏 宇妥文化发展有限公司（以下简称"宇妥文化"）的持股比例被动稀释，奇正集 团持股比例由 65.20%被动稀释至 63.84%；宇妥文化持股比例由 17.60%被动稀释 至 17.23%；奇正集团及宇妥文化合计持股比例由 82.80%被动稀释至 81.07%。奇 正集团、宇妥文化的持股数量未发生变化。 2、奇正集团是公司控股股东，持股比例变动后奇正集团仍为公司控股股东， 雷菊芳 ...

Group 1 - The report highlights a sustained strengthening of GMV inflection points, indicating optimism for long-term growth in the education sector, particularly for Oriental Selection [4][5] - The report notes a significant increase in the dividend payout ratio to 60% for Excellence Education Group, which may support revenue growth in the second half of 2025 [10][11] - Shanghai Film's performance is under short-term pressure, but the release of "Wang Wang Mountain Little Monster" is expected to provide performance elasticity [13][15] Group 2 - Huabei Mining's revenue for H1 2025 decreased by 45% year-on-year, but cost control measures are expected to enhance future performance as quality projects are gradually put into production [19][21] - The report indicates that the pet ecosystem construction by Reap Bio is becoming increasingly comprehensive, with a notable increase in revenue and net profit in H1 2025 [24][25] - Silver Wheel's revenue and net profit showed significant growth in Q2 2025, driven by dual engines of "server liquid cooling + robotic joints" [27][29] Group 3 - Shaanxi Coal's production and sales volumes remained stable, with a slight increase in coal production in H1 2025, despite a decrease in revenue [31][33] - China Ruyi's net profit turned from loss to profit in H1 2025, driven by game publishing and content investment [36][37] - Light Media's animation production capacity continues to improve, with IP operations expected to become a new growth point [40][42] Group 4 - Cambrian's revenue for H1 2025 saw an extraordinary increase of 4347.82% year-on-year, with net profit also experiencing substantial growth [46]

Investment Rating - The report assigns an investment rating of "Buy" for the company, marking the first coverage [1][6]. Core Insights - The company, Qizheng Tibetan Medicine, reported a significant year-on-year increase in revenue and profit for the first half of 2025, with operating income reaching 1.175 billion yuan (up 16.36% YoY) and net profit attributable to shareholders at 358 million yuan (up 10.04% YoY) [3][4]. - The company's strategic initiatives, termed "Six Battles," focus on innovation and digital empowerment to enhance the Tibetan medicine industry, aiming for long-term sustainable development [6][4]. - The report forecasts revenue growth for the years 2025, 2026, and 2027 to be 2.741 billion yuan, 3.195 billion yuan, and 3.724 billion yuan respectively, with corresponding net profits of 663 million yuan, 781 million yuan, and 944 million yuan [6][8]. Financial Performance Summary - For Q2 2025, the company achieved operating income of 772 million yuan (up 19.75% YoY) and net profit of 283 million yuan (up 23.88% YoY) [3][6]. - The gross profit margin for Q2 2025 was reported at 82.54%, reflecting a slight increase of 0.36 percentage points YoY, while the net profit margin improved to 36.83%, up 1.41 percentage points YoY [6][4]. - The company’s sales expense ratio decreased to 37.29%, down 1.42 percentage points YoY, indicating improved cost management [6][4]. Market Performance - The company's stock performance over the past 12 months shows a gain of 46.1%, outperforming the CSI 300 index, which increased by 35.8% [5][6]. - As of August 28, 2025, the stock price was 27.89 yuan, with a 52-week price range of 18.23 to 38.16 yuan [5][6].

Group 1 - The core viewpoint of the articles emphasizes the resurgence of traditional medicine, particularly ethnic medicine, as a rational choice in the medical system driven by the demand for effective treatments for chronic diseases and complex conditions [1][2] - The "14th Five-Year Plan for the Development of Traditional Chinese Medicine" highlights the need to enhance research on ethnic medicine for major diseases and advantageous conditions, while the WHO's 2025-2034 Traditional Medicine Strategy aims to improve global health coverage [1] - The effectiveness of ethnic medicine is rooted in thousands of years of clinical validation, and modern research methods like evidence-based medicine are bridging the gap between traditional and modern medical understanding [1] Group 2 - Qizheng Tibetan Medicine, established in 1995, prioritizes patient benefits and focuses on clinical needs through research and technological innovation to enhance drug efficacy and safety [2] - The company has developed a comprehensive ecosystem covering the entire industry chain, including medicinal material cultivation, research and development, intelligent manufacturing, marketing, sales, and medical services [2] - On its 30th anniversary, the company aims to double its performance in five years, reach a revenue of 10 billion in ten years, and become a globally influential Tibetan medicine health industry group in thirty years [2]

| 证券代码：002287 | 证券简称：奇正藏药 | 公告编号：2025-081 | | --- | --- | --- | | 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 关于提前赎回"奇正转债"实施暨即将停止转股的重要提示性公告 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。 重要内容提示： 1、最后转股日：2025年9月2日 因"奇正转债"已停止交易，本公司特提醒投资者在期限内转股。2025年9 月2日是"奇正转债"最后一个转股日，当日收市前，持有"奇正转债"的投资 者仍可进行转股；2025年9月2日收市后，未转股的"奇正转债"将停止转股。 2、截至2025年8月28日收市后，距离"奇正转债"停止转股并赎回仅剩3个 交易日。如投资者未及时转股，可能面临损失。敬请投资者仔细阅读本公告内 容，并关注相关风险。 特别提示： 1、"奇正转债"赎回价格：101.701元/张（含当期应计利息，当期年利率为 1.80%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任公司 深圳分公司（以下简称"中登公司"）核准的价格 ...