Core Viewpoint - Yu Heng Pharmaceutical (002437.SZ) announced that shares held by its shareholders Yu Heng International Investments Corporation and Oriental Keystone Investment Limited will be publicly auctioned on Taobao's judicial auction platform from November 20, 2025, to November 21, 2025 [1] Group 1 - Yu Heng International Investments Corporation holds 56.7781 million shares, while Oriental Keystone Investment Limited holds 42.9 million shares, which are set for auction [1] - On November 21, 2025, it was reported that the company's director and general manager, Guo Leifeng, along with his concerted party, Tibet Yupan Enterprise Management Partnership (Limited Partnership), participated in the auction and successfully acquired a total of 25 million shares, representing 1.12% of the company's total share capital [1]

Core Viewpoint - YuHeng International Investments Corporation and Oriental Keystone Investment Limited are auctioning a total of 99,678,123 shares of YuHeng Pharmaceutical on a judicial auction platform, with significant participation from the company's management [1] Group 1: Shareholder Actions - YuHeng International Investments Corporation holds 56,778,123 shares, while Oriental Keystone Investment Limited holds 42,900,000 shares, both set for auction from November 20 to November 21, 2025 [1] - The auction results show that Guo Leifeng, the company's director and general manager, along with his concerted party, Tibet Yupan Enterprise Management Partnership, acquired a total of 25 million shares, representing 1.12% of the company's total share capital [1]

Core Viewpoint - The company announced that its general manager and financial officer, Guo Leifeng, along with a related party, Tibet Yupan, successfully acquired a total of 25 million shares through a judicial auction, representing 1.12% of the total share capital [1] Group 1 - Guo Leifeng increased his shareholding by acquiring 20 million shares, raising his total holdings to 41.98 million shares, which is 1.88% of the total shares [1] - Tibet Yupan acquired 5 million shares, bringing its total holdings to 5 million shares, or 0.22% of the total shares [1] - The combined shareholding of Guo Leifeng and Tibet Yupan amounts to 46.98 million shares, representing 2.10% of the total share capital [1]

Core Viewpoint - YuHeng International Investments Corporation and Oriental Keystone Investment Limited are auctioning a total of 99,678,123 shares of YuHeng Pharmaceutical on a judicial auction platform, with significant participation from the company's management [1] Group 1: Shareholder Actions - YuHeng International Investments Corporation holds 56,778,123 shares, while Oriental Keystone Investment Limited holds 42,900,000 shares, both set for auction from November 20 to November 21, 2025 [1] - The auction results show that Guo Leifeng, the company's director and general manager, along with his concerted party, Tibet Yupan Enterprise Management Partnership, acquired a total of 25 million shares, representing 1.12% of the company's total equity [1]

Core Viewpoint - The company announced that its director, general manager, and financial officer Guo Leifeng, along with his concerted action partner Tibet Yupin, successfully acquired a total of 25 million shares in a judicial auction, representing 1.12% of the total share capital [1] Group 1 - Guo Leifeng increased his shareholding by acquiring 20 million shares, raising his total holdings to 41.98 million shares, which is 1.88% of the total [1] - Tibet Yupin acquired 5 million shares, bringing its total holdings to 5 million shares, or 0.22% of the total [1] - The combined shareholding of Guo Leifeng and Tibet Yupin amounts to 46.98 million shares, representing 2.10% of the total share capital [1]

Core Viewpoint - The financial report of Yuheng Pharmaceutical reveals a significant increase in net profit, primarily driven by non-operating income, raising concerns about the sustainability of its core business profitability [1][4]. Group 1: Financial Performance - Yuheng Pharmaceutical's net profit surged by 86.86% year-on-year, reaching 244 million yuan in the first three quarters of 2025 [1]. - The company reported 377 million yuan in entrusted financial management income, which accounted for 154.5% of its net profit, indicating that the core business is actually operating at a loss when excluding this income [1]. - Revenue has declined for three consecutive years, dropping from 2.626 billion yuan in 2023 to 1.665 billion yuan in the first three quarters of 2025, with a year-on-year decline of 10.36% [2]. Group 2: Product and Market Challenges - The core product, injectable multivitamins, holds an 80% market share but has seen growth slow to 10% due to price reductions from centralized procurement [2]. - Another key product, pravastatin sodium tablets, did not qualify for the 11th batch of centralized procurement, leading to expectations of a significant sales decline in 2026 [2]. - New product introductions have underperformed, with the recently launched sitagliptin and metformin sustained-release tablets generating only 25 million yuan in revenue, falling short of expectations [2]. Group 3: R&D and Strategic Concerns - Yuheng Pharmaceutical's R&D investment has consistently been below 3%, significantly lower than the industry average of 8%, raising concerns about its long-term competitiveness [3]. - The company has over 20 projects in development, none of which are original innovative drugs, indicating a lack of innovation in its pipeline [3]. - Cost control measures have reached their limits, with the sales expense ratio dropping below 25%, primarily due to passive reductions from centralized procurement policies, leaving little room for further cuts [3]. Group 4: Conclusion - The financial report highlights a strategic confusion within Yuheng Pharmaceutical amid industry changes, with short-term financial gains masking deeper issues such as revenue decline, product gaps, and lack of innovation [4]. - To build a sustainable growth model, the company needs to reduce reliance on non-operating income and focus on product structure optimization, increased R&D investment, and strategic acquisitions [4].

哈尔滨誉衡药业股份有限公司 哈尔滨誉衡药业股份有限公司 证券代码：002437 证券简称：誉衡药业 公告编号：2025-079 关于董事、高级管理人员通过司法拍卖方式增持公司股份的 哈尔滨誉衡药业股份有限公司（以下简称"公司"）股东 Yu Heng International Investments Corporation 持有的公司 56,778,123 股股票及股东 Oriental Keystone Investment Limited 持有的公司 42,900,000 股股票于 2025 年 11 月 20 日 10:00 时 至 2025 年 11 月 21 日 10:00 时止（因竞价自动延时除外）在淘宝网司法拍卖网 络平台被公开拍卖。 2025年11月21日，经查询淘宝网司法拍卖网络平台公开拍卖结果，公司董事、 总经理、财务负责人国磊峰先生及其一致行动人西藏誉磐企业管理合伙企业（有 限合伙）（以下简称"西藏誉磐"）参与上述司法拍卖，并竞拍取得了合计2,500.00 万股公司股份，占公司总股本的1.12%。 | 股东名称 | 本次增持前 | | 本次通过司法 | 本次通过司 | 本次增持后 | | ...

（文章来源：证券日报） 证券日报网讯 11月19日晚间，誉衡药业发布公告称，公司本次回购注销的4名激励对象限制性股票共计 13，761，600股，占回购注销前公司总股本的0.61%。本次回购限制性股票的资金来源为公司自有资 金，回购价格为授予价格1.25元/股加上中国人民银行同期存款利息之和，用于本次回购的资金总额为 人民币17，628，309.03元。截至本公告披露日，公司已在中国证券登记结算有限责任公司深圳分公司 办理完成上述限制性股票的回购注销手续。 ...

哈尔滨誉衡药业股份有限公司 证券代码：002437 证券简称：誉衡药业 公告编号：2025-078 哈尔滨誉衡药业股份有限公司 一、本次限制性股票激励计划已履行的相关审批程序 1、2024 年 1 月 15 日，公司第六届董事会第十一次会议、第六届监事会第 九次会议审议通过了《关于<2024 年限制性股票激励计划（草案）>及其摘要的 议案》等相关议案。 2、2024 年 1 月 16 日至 2024 年 1 月 25 日，公司在公司官方网站公示了拟 激励对象的姓名和职务，截至公示期满，公司监事会未收到任何对本次激励对象 第 1页 关于 2024 年限制性股票激励计划部分限制性股票回购注销完成的公告 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、本次回购注销的 4 名激励对象限制性股票共计 13,761,600 股，占回购注 销前哈尔滨誉衡药业股份有限公司（以下简称"公司"）总股本的 0.61%。 2、本次回购限制性股票的资金来源为公司自有资金，回购价格为授予价格 1.25 元/股加上中国人民银行同期存款利息之和，用于本次回购的资金总额为人 民币 ...

证券日报网讯誉衡药业（002437）11月17日在互动平台回答投资者提问时表示，公司产品主要以院内销 售为主，氯化钾缓释片、安脑丸/片等部分产品也通过线上方式进行销售，但金额还比较小。 ...