登录新浪财经APP 搜索【信披】查看更多考评等级 12月10日晚间，信邦制药发布公告称，公司收到检察机关《审查起诉阶段委托辩护人/申请法律援助告 知书》等文件，公司涉嫌单位行贿案已被监察委员会移送检察机关审查起诉。尽管公司表示当前经营正 常、管理层正常履职，但结合其子公司科开医药此前已被立案、前董事长牵涉医疗腐败案等一系列事 件，信邦制药正面临法律、经营与治理层面的多重压力。 法律风险悬顶，双罚制或致单位与个人同受罚 贵州省纪委监委在反腐专题片中披露，贵阳医学院附属医院原院长王小林受贿案中，涉及企业背景、并 购经过及相关人员身份与科开医药、信邦制药前董事长张观福、安怀略高度吻合。王小林在片中称，在 科开医药并购过程中，安某某（被指为安怀略）与张某某（被指为张观福）共同劝说其改变与国药合作 的原计划，转而支持由信邦制药收购，王小林因此收受巨额财物。 尽管安怀略已辞职并由其女儿安吉接任董事长，但其在关键历史交易中的角色以及当前司法案件中的涉 案嫌疑，仍为公司的治理透明度与独立性蒙上阴影。 当前，信邦制药自身经营亦面临压力。2025年三季报显示，公司前三季度营收42.66亿元，同比下滑 6.55%；净利润1.52亿 ...

证券日报网讯12月15日，信邦制药（002390）在互动平台回答投资者提问时表示，目前公司生产经营情 况一切正常。公司高度关注近期股价波动及相关事项，将严格按照信息披露的规定及时履行信息披露义 务，敬请以公司在指定信息披露媒体上刊登的公告为准。 ...

Core Viewpoint - Xinfang Pharmaceutical is embroiled in a bribery scandal, leading to its prosecution by the public prosecutor's office, which has received materials for the case from the supervisory committee [1][3]. Group 1: Legal Issues - The company and its subsidiary, Guizhou Keke Pharmaceutical Co., are both implicated in the bribery case, with the public prosecutor's office having received the necessary materials for prosecution [1][3]. - The case is currently in the review and prosecution stage, with the final outcome pending judicial documentation [4]. - Specific details regarding the bribery allegations have not been disclosed by the company, which is awaiting further legal guidance [5]. Group 2: Financial Performance - Xinfang Pharmaceutical has experienced declining performance, with continuous revenue and profit decreases reported for 2024 and the first three quarters of 2025 [2][16]. - In 2024, the company reported revenues of 60.32 billion yuan and a net profit of 1.01 billion yuan, reflecting year-on-year declines of 6.63% and 64.70%, respectively [16]. - For the first three quarters of 2025, revenues were 42.66 billion yuan and net profits were 1.52 billion yuan, showing declines of 6.55% and 13.74% year-on-year [16]. Group 3: Research and Development - The company's R&D investment remains low, with only 4.29 million yuan allocated in the first nine months of 2025, significantly lower than the 196 million yuan spent on sales expenses [17]. - Historical R&D expenditures have been minimal, with figures around 3.7 million yuan from 2017 to 2019, and only slight increases in recent years [16][17]. Group 4: Company Background - Xinfang Pharmaceutical, established in 1995 and listed in 2010, operates across the entire healthcare industry chain, including medical services, pharmaceutical distribution, and manufacturing [14]. - The company has faced operational challenges, with its revenue fluctuating between 60 billion and 67 billion yuan from 2019 to 2023, and net profits showing no significant growth during this period [16].

因涉嫌单位行贿一案被起诉，信邦制药连续两日股价下跌。 12月12日，信邦制药股价收跌9.89%，报3.37元/股。此前一日，公司股价收盘跌停。两日之间，公司市 值缩水15亿元。 新京报贝壳财经记者梳理发现，今年3月，公司前董事长安怀略、重要子公司科开医药已因涉嫌单位行 贿罪被立案受理。公开信息显示，相关事项指向信邦制药对科开医药的收购事宜。 北京市盈科律师事务所大部门副主任杜鹃对贝壳财经记者表示，单位行贿罪是指单位为谋取不正当利益 而行贿，或者违反国家规定，给予国家工作人员以回扣、手续费，且情节严重的行为。 针对该事件对公司的影响，信邦制药称，本次重大事项对公司的品牌声誉、业务拓展及未来发展可能会 产生一定的不利影响，公司管理层将积极应对可能发生的危机和风险。目前本案处于审查起诉阶段，最 终结果以司法机关出具的法律文书为准。 上海赵洪升律师事务所主任赵洪升指出，若单位行贿罪成立，上市公司除可能被判处罚金外，还可能面 临一系列衍生法律责任。若相关行贿行为导致上市公司信息披露失实，公司或需对受损投资者承担民事 赔偿责任，相关董事、监事、高级管理人员及控股股东等或承担连带赔偿责任；同时，公司可能面临行 政罚款及监管 ...

Core Viewpoint - Xinfang Pharmaceutical is embroiled in a bribery scandal, leading to its prosecution by the procuratorate, which has caused a significant drop in its stock price [1][4]. Group 1: Company Overview - Xinfang Pharmaceutical is a comprehensive healthcare group covering medical services, pharmaceutical distribution, and manufacturing, listed on the A-share market in 2010 [2]. - The company has been experiencing declining operational performance, with continuous revenue and profit decreases in 2024 and the first three quarters of 2025 [3][12]. Group 2: Legal Issues - The company and its subsidiary, Guizhou Keke Pharmaceutical, are both implicated in a unit bribery case, with the procuratorate receiving materials for prosecution [1][4]. - The specific details of the bribery allegations have not been disclosed, and the company is awaiting further legal proceedings [5][6]. Group 3: Financial Performance - In 2023, Guizhou Keke Pharmaceutical reported revenues of 2.278 billion yuan and a net profit of 94.5 million yuan, contributing significantly to Xinfang's overall financials [6]. - Xinfang's revenue and net profit have shown a downward trend, with 2024 figures indicating a 6.63% and 64.70% decline, respectively [12]. - The company's R&D investment remains low, with only 4.29 million yuan spent in the first three quarters of 2025, compared to 196 million yuan in sales expenses [3][12].

Investment Rating - The industry rating is maintained at "Overweight" [6] Core Insights - The Chinese medicine sector experienced a significant decline, with the Chinese medicine index dropping by 2.03% last week, while other pharmaceutical sub-sectors also faced declines, except for medical services which saw a 1.67% increase [1][19] - The price-to-earnings (PE) ratio for the Chinese medicine sector is 27.17X, down by 0.55X week-on-week, while the price-to-book (PB) ratio is 2.29X, down by 0.04X week-on-week [2] - The demand for flu-related and tonic herbs has increased, leading to a rise in the price index of Chinese medicinal materials, which is expected to continue to rise slightly in the future [3] - The national medical insurance work conference highlighted the restructuring of prices and market patterns as a major direction for the Chinese medicine industry in 2026, emphasizing the importance of collective procurement and support for innovation in the industry [4][9] Summary by Sections Market Performance - The Chinese medicine index closed at 6372.09 points, down 2.03% last week, with only the medical services sector recording positive returns [1][19] Valuation - The current PE ratio for the Chinese medicine sector is 27.17X, with a year-high of 30.26X and a year-low of 24.72X, placing it at the 28.41% percentile since 2013 [2] Supply Chain Insights - The price index for Chinese medicinal materials rose to 225.57 points, a 0.4% increase from the previous week, driven by increased demand due to the flu outbreak and winter tonic herbs [3] Policy and Market Trends - The 2026 direction for the Chinese medicine industry includes continued promotion of collective procurement and support for innovation, with an emphasis on price governance and market restructuring [4][10] - The focus on long-term care insurance is expected to increase demand for Chinese medicine products, particularly in the context of an aging population [9] Investment Recommendations - The report suggests focusing on three main investment themes: price governance, consumption recovery, and state-owned enterprise reform, with specific recommendations for companies with strong R&D capabilities and unique products [10][11]

Core Viewpoint - The announcement from Xinbang Pharmaceutical regarding its indictment for bribery marks a significant escalation in a long-standing corruption case involving key figures in the company and its subsidiary, Guizhou Keke Pharmaceutical [1][2]. Group 1: Company Overview - Xinbang Pharmaceutical has been implicated in a bribery case that has now escalated to judicial proceedings, indicating the severity of the issues at hand [1]. - The company’s reputation has suffered greatly, with its stock price dropping over 9% following the announcement, contrasting sharply with a previous surge [1]. Group 2: Key Individuals and Relationships - The case is linked to Wang Xiaolin, former Vice President and Director of the Affiliated Hospital of Guizhou Medical University, who played a pivotal role in the establishment of Guizhou Keke Pharmaceutical [2][12]. - Wang Xiaolin and Xinbang's actual controller, An Huailue, have been accused of colluding to embezzle funds during the restructuring of the company [3][4]. Group 3: Financial Implications - Guizhou Keke Pharmaceutical contributed over 35% of Xinbang Pharmaceutical's revenue and nearly 27% of its net profit in 2023, highlighting the company's dependency on this subsidiary [8]. - The acquisition of Guizhou Keke by Xinbang in 2014 was valued at approximately 997 million yuan, with a staggering premium of 340.60% over its book value, raising concerns about the legitimacy of the transaction [9]. Group 4: Historical Context and Corruption - The corruption scheme reportedly spans over two decades, with Wang Xiaolin's actions leading to significant financial misconduct within the healthcare supply chain [14]. - The merger and acquisition process was characterized by conflicts of interest, as Xinbang's revenue was heavily reliant on transactions with its subsidiary, raising red flags about the integrity of the deal [15]. Group 5: Future Outlook - With the bribery case now in judicial proceedings, the once lucrative subsidiary, Guizhou Keke, is now viewed as a potential liability for Xinbang Pharmaceutical [11].

信邦制药今日跌停，全天换手率8.07%，成交额5.28亿元，振幅5.64%。龙虎榜数据显示，机构净卖出 803.51万元，深股通净卖出1449.97万元，营业部席位合计净买入1043.27万元。 深交所公开信息显示，当日该股因日跌幅偏离值达-10.66%上榜，机构专用席位净卖出803.51万元，深 股通净卖出1449.97万元。 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交1.01亿元，其中，买入成交额为4432.23 万元，卖出成交额为5642.43万元，合计净卖出1210.20万元。 具体来看，今日上榜的营业部中，共有1家机构专用席位现身，即卖三，买入金额76.78万元，卖出金额 880.28万元，合计净卖出803.51万元，深股通为第一大卖出营业部，买入金额为444.44万元，卖出金额 为1894.41万元，合计净卖出1449.97万元。 资金流向方面，今日该股主力资金净流出3413.14万元，其中，特大单净流出791.78万元，大单资金净流 出2621.37万元。近5日主力资金净流出6105.24万元。 融资融券数据显示，该股最新（12月11日）两融余额为2.58亿元，其中，融资余额为2. ...

从资金流向上来看，当日中药板块主力资金净流出1.44亿元，游资资金净流出8876.18万元，散户资金净 流入2.33亿元。中药板块个股资金流向见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 证券之星消息，12月12日中药板块较上一交易日下跌0.31%，信邦制药领跌。当日上证指数报收于 3889.35，上涨0.41%。深证成指报收于13258.33，上涨0.84%。中药板块个股涨跌见下表： ...

Market Performance - The land transfer concept declined by 1.40%, ranking among the top declines in concept sectors, with notable declines from companies such as Xinbang Pharmaceutical, Jingtou Development, and Yong'an Forestry [1] - Among the 11 stocks that increased, Zhengbang Technology, Xiamen Xiangyu, and Tongyi Co. saw gains of 3.48%, 2.02%, and 1.62% respectively [1] Concept Sector Performance - The top-performing concept sectors included Controlled Nuclear Fusion (+4.98%), Superconducting Concept (+3.37%), and Flexible DC Transmission (+3.28%) [1] - Conversely, the worst-performing sectors included Horse Racing Concept (-2.93%), Duty-Free Shops (-1.60%), and Land Transfer (-1.40%) [1] Capital Flow Analysis - The land transfer concept experienced a net outflow of 0.13 billion yuan, with 25 stocks seeing net outflows, and 8 stocks with outflows exceeding 10 million yuan [1] - The stock with the highest net outflow was China Wuyi, with a net outflow of 59.12 million yuan, followed by Intercontinental Oil and Gas and Xinbang Pharmaceutical with outflows of 57.35 million yuan and 34.13 million yuan respectively [1] Individual Stock Performance - China Wuyi saw a decline of 6.73% with a turnover rate of 12.59% and a net outflow of 59.12 million yuan [2] - Zhengbang Technology led in net inflow with 141.27 million yuan, while also increasing by 3.48% [2] - Other notable stocks with significant net inflows included Shennong Seed Industry and Fenglin Group, with inflows of 39.84 million yuan and 18.25 million yuan respectively [2]