（文章来源：每日经济新闻） 贵州百灵（SZ 002424，收盘价：6.09元）8月19日晚间发布半年度业绩报告称，2025年上半年营业收入 约14.62亿元，同比减少31.77%；归属于上市公司股东的净利润约5183万元，同比减少40.73%；基本每 股收益0.04元，同比减少33.33%。 ...

Core Viewpoint - Guizhou BaiLing has successfully achieved "hat removal" and is on a positive development track, driven by core product growth, capacity optimization, and marketing reforms, alongside long-term trends in pharmaceutical innovation [1] Group 1: Industry Overview - The pharmaceutical industry is undergoing a deep adjustment phase, with a 1.2% year-on-year decline in revenue and a 2.8% drop in total profits for large-scale pharmaceutical manufacturing enterprises in the first half of 2025 [2] - Despite industry challenges, Guizhou BaiLing demonstrates strong profitability resilience, supported by a solid fundamental structure and a "product + capacity + channel" moat [2] Group 2: Product Development - Guizhou BaiLing has developed a diversified product system centered around the "BaiLing Bird" trademark, addressing various health management needs across different age groups [3] - The core product, Yindan Xinnaotong soft capsules, has shown strong growth, with sales exceeding 100 million yuan in the first quarter of 2025 [3] - The company is also enhancing its respiratory product lineup, capturing significant market share in cough and throat inflammation segments [3] Group 3: Capacity Expansion - The company is focusing on high-end, intelligent, and green development, achieving substantial progress in key projects, including a 140% increase in herbal extraction capacity to 60,000 tons per year [4] - The renovation of the granule production facility is expected to double the annual output to 900 million bags, with improved product yield and reduced packaging material consumption [4] - The Guizhou BaiLing pharmaceutical logistics park has commenced operations, aiming for an annual circulation scale of 5 billion yuan [4] Group 4: Financial Performance - In the first half of 2025, Guizhou BaiLing reported revenue of 1.462 billion yuan and a net profit of 51.83 million yuan, with significant improvements in cash flow and gross margin [5] - The company has seen a 921.03% year-on-year increase in operating cash flow, indicating a recovery in operations [6] Group 5: Marketing and Sales Strategy - Guizhou BaiLing is deepening marketing reforms and expanding channels, enhancing sales efficiency through direct sales reforms across 15 provinces [6] - The company is forming seven business units to focus on refined operations in niche markets, while partnerships with leading pharmaceutical distributors are increasing product coverage [6] Group 6: Long-term Growth and Innovation - Guizhou BaiLing is strengthening its research and innovation capabilities, aiming for sustainable high-quality development [7] - The company is advancing its innovative drug pipeline, with several projects expected to launch within 1 to 2 years, including treatments for diabetes-related complications [7] Group 7: International Expansion - Guizhou BaiLing is exploring international opportunities, having signed sales agreements with distributors in Southeast Asia and initiated exports of its products [8] - The company is positioned to benefit from the structural changes in the pharmaceutical sector, with a focus on innovative drugs expected to enhance its valuation [8]

每经AI快讯，贵州百灵（SZ 002424，收盘价：6.09元）8月19日晚间发布公告称，公司第六届第十九次 董事会会议于2025年8月19日在公司三楼会议室以现场结合通讯方式召开。会议审议了《2025年半年度 报告及摘要》等文件。 每经头条（nbdtoutiao）——一纸文件征求意见，药店老板们睡不着觉了 （记者 王晓波） 2025年1至6月份，贵州百灵的营业收入构成为：工业占比56.3%，商业占比40.71%，医疗业占比 2.27%，其他行业占比0.73%。 截至发稿，贵州百灵市值为85亿元。 ...

Core Insights - Guizhou BaiLing reported a significant decline in revenue and net profit for the first half of 2025, with revenue at 1.462 billion yuan, down 31.77% year-on-year, and net profit at 51.83 million yuan, down 40.73% year-on-year [1] - The company has improved its cash flow from operating activities, reaching 249 million yuan, a substantial increase of 921.03% year-on-year, indicating a recovery in operations [1] - The gross margin for Guizhou BaiLing's pharmaceutical manufacturing increased by 8.42% year-on-year to 72.3%, reflecting ongoing operational improvements [1] - The company successfully completed internal control rectification and quality enhancement initiatives, achieving its core task of "removing the cap" and returning to a positive development trajectory [1] Financial Performance - In Q2 2025, Guizhou BaiLing's net profit was 27.66 million yuan, showing a quarter-on-quarter improvement [1] - The overall pharmaceutical industry is still undergoing significant adjustments, with a 1.2% decline in revenue and a 2.8% decline in total profit for large-scale pharmaceutical manufacturing enterprises in China during the same period [1] Product Development - Guizhou BaiLing has developed a diversified product system centered around its "BaiLing Bird" trademark, targeting various health management needs across different age groups [2] - The core product, Yin Dan Xin Nao Tong soft capsules, has shown strong growth, with sales exceeding 100 million yuan in Q1 2025 across major markets [2] - The company is enhancing its respiratory product line, with significant market shares in cough and throat inflammation treatments [2] Capacity Expansion - The company has completed capacity expansion projects, increasing its traditional Chinese medicine raw material processing capacity by 140% to 60,000 tons per year [3] - The renovation of the granule production workshop is expected to double the annual output to 900 million bags, with improved product yield and reduced packaging material consumption [3] - Guizhou BaiLing's pharmaceutical logistics park has commenced operations, addressing a 60,000-ton storage gap and aiming for an annual circulation scale of 5 billion yuan [3] Innovation and Market Expansion - The company is on the verge of significant breakthroughs in its innovative drug development, with recent clinical trials showing promising results for its diabetes treatment products [4] - Guizhou BaiLing is exploring international market opportunities, having signed sales agreements with distributors in Southeast Asia and initiated shipments of its products [4]

Core Insights - Guizhou Bailing (002424) has implemented a series of technological upgrades and expansion projects to meet the increasing production capacity needs [1] - The company's capacity for pre-processing traditional Chinese medicine materials has increased from 25,000 tons per year to 60,000 tons per year, showcasing a significant scale advantage in the industry [1] - Guizhou Bailing has established business relationships with over 80% of terminal customers nationwide, with more than 600,000 terminal customers and over 100,000 signed VIP terminal customers [1]

格隆汇8月19日丨贵州百灵（维权）(002424.SZ)公布2025年半年度报告，上半年公司实现营业收入14.62 亿元，同比下降31.77%；归属于上市公司股东的净利润5183.46万元，同比下降40.73%；归属于上市公 司股东的扣除非经常性损益的净利润1384.58万元，同比下降57.48%；基本每股收益0.04元。 ...

Group 1 - The company Guizhou Bailing reported a revenue of 1.462 billion yuan for the first half of 2025, representing a year-on-year decline of 31.77% [1] - The net profit for the company was 51.8346 million yuan, which is a year-on-year decrease of 40.73% [1] - The company announced plans not to distribute cash dividends, issue bonus shares, or increase capital through reserves [1]

单位：万元 贵州百灵企业集团制药股份有限公司 2025 年半年度非经营性资金占用及其他关联资金往来情况汇总表 非经营性资金占用 资金占用方名称 占用方与上市公司 的关联关系 上市公司核算的会 计科目 2025 年期初占用 资金余额 2025 年度占用累计 发生金额（不含利息） 2025 年度占用资金 的利息（如有） 2025 年度偿还累计 发生金额 2025 年期末占用资 金余额 占用形成原 因 占用性质 控股股东、实际控制 人及其附属企业 非经营性占用 小计 - - - - 前控股股东、实际控 制人及其附属企业 非经营性占用 小计 - - - - 其他关联方及其附属 企业 郭宗华等人 子公司的少数股东 其他应收款 399.67 0.41 400.08 不规范使用 资金 非经营性往来 小计 - - - 399.67 0.41 400.08 - 总计 - - - 399.67 0.41 400.08 - 其他关联资金往来 资金往来方名称 往来方与上市公司 的关联关系 上市公司核算的会 计科目 2025 年期初占用 资金余额 2025 年度占用累计 发生金额（不含利息） 2025 年度占用资金 的利息（如有） 2 ...

贵州百灵企业集团制药股份有限公司 2025 年半年度财务报告 贵州百灵企业集团制药股份有限公司 2025 年半年度财务报告 1 贵州百灵企业集团制药股份有限公司 2025 年半年度财务报告 2025 年度财务报表 1、合并资产负债表 编制单位：贵州百灵企业集团制药股份有限公司 单位：元 | 项目 | 期末余额 | 期初余额 | | --- | --- | --- | | 流动资产： | | | | 货币资金 | 491,625,070.63 | 395,631,213.54 | | 结算备付金 | 0.00 | 0.00 | | 拆出资金 | 0.00 | 0.00 | | 交易性金融资产 | 0.00 | 0.00 | | 衍生金融资产 | 0.00 | 0.00 | | 应收票据 | 0.00 | 17,162,031.98 | | 应收账款 | 1,395,584,301.02 | 1,595,703,216.08 | | 应收款项融资 | 397,689,267.99 | 340,879,206.82 | | 预付款项 | 68,004,632.64 | 26,358,701.04 | | 应收保费 ...

证券代码：002424 证券简称：贵州百灵 公告编号：2025-042 贵州百灵企业集团制药股份有限公司 关于第六届监事会第十一次会议决议的公告 本公司及监事会全体成员保证公告内容真实、准确和完整，公告 不存在虚假记载、误导性陈述或者重大遗漏。 一、监事会召开情况 1、贵州百灵企业集团制药股份有限公司（以下简称"公司"） 第六届监事会第十一次会议由公司监事会主席周春刚先生召集，会议 通知于2025年8月8日以专人送达、电子邮件、电话等通讯方式发出。 2、本次监事会于 2025 年 8 月 19 日下午 2:00 在公司三楼会议室 以现场表决方式召开。 3、本次监事会应到监事5人，实到5人。 4、本次监事会由监事会主席周春刚先生主持，公司高级管理人 员列席了本次会议。 5、本次监事会的召集、召开符合《公司法》《公司章程》《监 事会议事规则》及相关法规的规定，会议召开合法有效。 二、监事会会议审议情况 本次会议经过充分讨论，会议审议通过了以下议案： 议案一、审议通过《2025年半年度报告及摘要》。 经审核，监事会认为：董事会编制和审核《2025年半年度报告》 及《2025年半年度报告摘要》的程序符合法律、行政法规 ...