11月21日，第五届华夏大健康产业发展暨康复服务大会在京举行。会上公布了系列创新典型案例，以岭 药业凭借其中药创新领域的卓越成就，入选"2025年度中医药创新典型案例"。 以岭药业始终将研发作为企业发展的核心驱动力，2025年前三季度，公司研发投入达5.44亿元，占营业 收入比重9.27%，持续领跑行业。2019至2024年间，累计研发投入已突破50亿元，形成"投入－转化－ 再投入"的良性循环，为持续产出符合中国人生命基因与体质特点的"中国药"奠定坚实基础。 在中药创新成果方面，2025年以岭药业研发管线成果丰硕。中药1.1类新药芪防鼻通片获国家药监局批 准上市，后又在澳门上市，成为澳门首个注册上市的中成药创新药。此外，芪桂络痹通片、小儿连花清 感颗粒等4款中药新药已进入申报阶段，另有5款中药处于临床研究，覆盖呼吸、风湿免疫、神经系统等 重大疾病领域，持续拓展中药治疗边界。截至目前，以岭药业共拥有17个专利中药，覆盖心脑血管、呼 吸系统、内分泌等重大疾病领域，其中11个品种纳入国家医保目录，5个进入国家基药目录，切实减轻 患者用药负担。 以岭药业不仅注重新药研发，更以高标准的循证医学研究推动中医药走向世界。其 ...

以岭药业 20251123 摘要 以岭药业构建了专利中药、化生药、健康产业三大协同发展的产业格局， 创始人吴以岭院士及其家族控制公司超 54%股权，股权集中度高，形成 协同发展的产业链。 心脑血管产品线（通心络、参松养心、芪苈强心胶囊）覆盖缺血性心脑 血管病、心律失常、心力衰竭，循证医学证实疗效，市场份额持续提升， 参松养心胶囊和通心络胶囊保持市场前列。 呼吸系统产品线（连花清瘟、连花清咳、奇方鼻通片），连花清瘟疫情 期间贡献显著收入，预计 2025 年流感病例增加将带动需求回暖；连花 清咳转为 OTC 品种，奇方鼻通片有望带来增量。 二线品种（八子补肾胶囊、解郁除烦胶囊、益肾养心安神片等）在抗衰 老、抑郁症、失眠等领域具有潜力，通过零售、电商渠道推广有望实现 破圈效应。 公司 1.1 类创新中药通洛明目胶囊获批上市并纳入医保，用于糖尿病视 网膜病变治疗，《中国糖尿病防治指南 2024 版》推荐使用，有望惠及 更多患者。 Q&A 请介绍一下以岭药业的基本情况及其主要业务布局。 以岭药业成立于 1992 年，专注于专利创新中药的研发、生产和销售。截至 2025 年中报，公司拥有 17 个专利中药，覆盖 8 大临 ...

通过这一可量化的研究模型，以岭药业得出核心结论：复方中药的价值不在于是否包含某个古方，而在 于如何通过科学配伍，使古方精髓重新耦合成一个更高效的整体。 张宏斌表示，这类研究正是以岭药业试图打开"黑匣子"的关键实践，"用现代科学语言解释中药原理， 让中药疗效看得见、摸得着、可验证，才能让资本青睐中药创新。" 张宏斌以以岭药业旗下知名产品连花清瘟的研究为例，详细阐述了数字化技术在中药复方验证中的应 用。他介绍，连花清瘟在络病理论指导下，融合了汉代张仲景《伤寒论》中的麻杏石甘汤、清代《温病 条辨》中的银翘散，以及明代疫病防治常用的大黄三方精华。为验证这种"1+1+1"的复方效果究竟是小 于3、等于3还是大于3，以岭药业开展了专项研究，相关成果已发表于国际药理学杂志。 据介绍，该研究首先完成了连花清瘟211种化学物质成分的全面鉴定，随后将其拆分为"去除麻杏石甘 汤""去除银翘散""去除大黄"三个组，建立抗病毒、抗菌、清热、肠道菌群等多维度药效学评价模型进 行交叉验证。 "研究数据清晰显示，麻杏石甘汤、银翘散、大黄在连花清瘟中存在明确的协同作用。"张宏斌强调，麻 杏石甘汤可促进银翘散有效组分的吸收，大黄能进一步促进前两 ...

以岭药业总部 "络病理论是中医药学独特的组成部分，也是以岭药业研发体系的核心灵魂。"吴瑞告诉记者，在络病理论指导下，以岭药 业建立起"理论—临床—科研—产业—教学"五位一体运营模式，形成了"理论+临床+新药+实验+循证"一体化的中医药创新 转化路径。 截至目前，以岭药业成功研发17个专利中药，覆盖心脑血管、呼吸、糖尿病、肿瘤、神经、泌尿、妇科、抗衰老等八大疾 病领域，其中11个品种进入国家医保目录、5个进入国家基药目录，成为中医药创新转化的典范。 "研发不是成本，而是我们最核心的增长动力。"吴瑞告诉记者，以岭的每一根增长曲线，都源自研发的持续投入与突破。 今年前三季度，公司实现归母净利润10亿元，同比增长80.33%。其中，第三季度，公司实现归母净利润3.32亿元，单季盈 利创历史新高。公司前三季度研发费用支出达5.44亿元，占营收比例9.27%，持续位居中药行业前列。 ◎记者 刘立 闫刘梦 从一本《络病学》教材到在海内外建立130余家络病专业委员会，从一味院内制剂到17款专利新药，从一家河北药企到国 际化医药集团……这就是国内中医药产业领军企业以岭药业的成长轨迹。 "以岭将科技创新作为立企之本，以络病理论为 ...

Group 1: Overview of Hebei Capital Market Development - Hebei's capital market is experiencing significant growth, with the number of listed companies expected to reach 84 and total market value rising to 1.43 trillion yuan by October 2025 [1] - Direct financing for various enterprises has exceeded 100 billion yuan, and the first public issuance of data center REITs has been successfully completed [1] - The development is driven by innovation and regulatory support, with companies like Yiling Pharmaceutical and Colin Electric leading the way in transformation and technological advancement [1][2] Group 2: Company Innovations and Performance - Yiling Pharmaceutical has developed 17 patented traditional Chinese medicines, focusing on a comprehensive operational model that integrates theory, clinical practice, research, industry, and education [1] - Colin Electric has transitioned from being an equipment supplier to a provider of integrated solutions in energy storage, achieving a 23.63% increase in revenue and a 45.90% rise in net profit year-on-year, with a staggering 705.48% increase in net profit for Q3 [2] - Wireless Media is evolving from IPTV services to a smart home ecosystem, serving nearly 15 million households in Hebei and launching innovative platforms like "Health for All" [2] Group 3: Financial Performance of Financial Institutions - Caida Securities, the only provincial securities firm, reported a 123.93% increase in net profit year-on-year, with brokerage fee income rising by 82.72% [3] - The firm is focusing on wealth management, investment banking, and technology finance, providing comprehensive services to specialized enterprises [3] Group 4: Regulatory Support and Market Initiatives - The Hebei Securities Regulatory Bureau has been actively guiding the development of the capital market, conducting visits to over 30 companies and facilitating the listing of one company on the Beijing Stock Exchange, raising 197 million yuan [3][4] - The bureau has implemented strict regulatory measures, issuing 16 administrative regulatory actions and 2 administrative penalties since 2025, while also promoting value enhancement strategies among listed companies [4] - Over 20 listed companies in Hebei have established market value management plans, with 74 instances of dividend distribution totaling over 28 billion yuan [4]

Core Viewpoint - The "Lianhua Accompanying, Health Protection Plan" initiated by Yiling Health aims to provide respiratory health protection support in schools during the flu season, reflecting the company's commitment to public health and education [1][6]. Group 1: Donation Actions - The donation initiative has been implemented in multiple schools, including Tianjin Normal University and Shijiazhuang No. 40 Middle School, providing targeted protective products and health support for students and staff [3][6]. - The plan will continue to expand its reach in Shijiazhuang and other universities in Tianjin, addressing the protective needs in densely populated school environments [3][6]. Group 2: Product Details - The donated products include Lianhua throat antibacterial spray and Lianhua sugar-free refreshing candy, designed to alleviate throat discomfort and enhance flu protection [4]. - Additional products such as Lianhua foam antibacterial hand wash and no-rinse antibacterial gel are provided to meet hygiene needs in public areas [4]. - The Lianhua refreshing plant beverage, containing various herbal ingredients, is included to promote respiratory comfort during dry winter conditions [4]. Group 3: Impact and Social Responsibility - The initiative is seen as a timely response to the pressure schools face during the flu season, enhancing their confidence and capability to manage flu outbreaks [6]. - Yiling Health emphasizes the importance of raising awareness about respiratory health and aims to create a safe and healthy campus environment through this donation [6]. - The "Lianhua Accompanying, Health Protection Plan" will continue to adapt its product offerings based on the needs of schools in Shijiazhuang and Tianjin, ensuring effective support for students and staff during the flu season [6].

一项由全国8家单位参与、共纳入480例患者的连花清咳片治疗急性气管-支气管炎的随机双盲、安慰剂 对照、多中心研究显示：连花清咳片具有确切的快速止咳和化痰作用，疾病疗效总有效率为92.39%， 且临床用药安全，研究期间未发现与该药相关的不良反应。 11月18日，由家庭医生在线主办的"2024-2025年度家庭常备药上榜品牌"颁奖典礼在南京举行，以岭药 业（002603）连花清咳片荣获家庭常备药（止咳祛痰）上榜品牌。 呼吸系统疾病是一种常见病、多发病，而咳嗽是呼吸系统疾病最常见的临床症状，常从发病起始持续至 恢复期，严重影响生活质量。因此，如何有效止咳化痰成为很多家庭的困扰。 连花清咳片作为以中医络病理论为指导，集合传统经典名方及临床实践研制的创新中药，具有清肺、化 痰、止咳多重功效，广泛应用于缓解感冒、流感、肺炎、慢阻肺急性发作等多种呼吸道疾病引起的咳 嗽、咳痰症状。 系列研究证实，连花清咳片具有明显的抗病毒、抑菌作用，有效控制气道炎症；对咳嗽有显著的抑制作 用，能减少咳嗽频次、缩短咳嗽时间、提高咳嗽消失率；同时，通过减少痰液生成，降低痰液黏稠度， 促进痰液排出，有效解决痰液阻滞的问题，畅通呼吸道；还可以保护气 ...

Macro Strategy - Recent international gold prices are fluctuating at high levels, with domestic jewelry gold prices also remaining elevated. There is a new trend in gold consumption favoring lighter products like gold bars. Short-term gold prices are expected to maintain high volatility. Consumers should pay attention to international gold price fluctuations if investing, and choose purchasing timing based on their budget for wearing needs [2][3] - From January to October, the national general public budget revenue reached 18.649 trillion yuan, a year-on-year increase of 0.8%. The national general public budget expenditure was 22.5825 trillion yuan, a year-on-year increase of 2%. Securities transaction stamp duty revenue was 162.9 billion yuan, a year-on-year increase of 88.1% [2] - By the end of 2024, the total asset scale of urban commercial banks in China is projected to be 60.15 trillion yuan, a 134-fold increase since 1995, accounting for 13.53% of the banking financial institutions, with a market share increase of 8.24 percentage points. The non-performing loan ratio is 1.76%, and the provision coverage ratio is 188.08% [2] Industry and Company Medical Services Industry - The medical and biological sector rose by 3.29%, ranking fifth among the 31 first-level industries. The Shanghai and Shenzhen 300 Index fell by 1.08%, indicating that the medical sector outperformed the index by 4.37 percentage points [6] - The PE (ttm) of the medical services sector is 33.47X, with a PB (lf) of 3.37X. The PE increased by 0.51X and the PB increased by 0.05X compared to the previous week [7][8] - The TIDES CRDMO market is expected to grow significantly, with the global market projected to increase from 2.1 billion USD in 2018 to 5.5 billion USD in 2023, with a CAGR of 20.9%, and further to 37.3 billion USD by 2032, with a CAGR of 23.8%. The Chinese market is expected to grow from 200 million USD in 2018 to 800 million USD in 2023, with a CAGR of 37.1%, and to 6.2 billion USD by 2032, with a CAGR of 25.5% [9] - Investment recommendations for the medical services sector include focusing on high-growth companies in the ADC CDMO and TIDES CDMO areas, as well as companies in the third-party testing laboratories and consumer medical sectors [10] Traditional Chinese Medicine Industry - The traditional Chinese medicine sector rose by 4.08%, ranking third among secondary sub-sectors. Companies such as Te Yi Pharmaceutical and Zhongsheng Pharmaceutical performed well, while others like *ST Changyao and ST Huluwa performed poorly [12] - The PE (ttm) for the traditional Chinese medicine sector is 29.25X, with a PB (lf) of 2.47X, indicating a slight increase from the previous week [13][14] - The market for traditional Chinese medicinal materials is experiencing volatility, with an overall supply surplus due to increased arrivals from new harvests. Recent weather conditions have also impacted harvesting [15] - The steady advancement of centralized procurement in the traditional Chinese medicine industry aims to reduce patient medication costs and shift competition towards cost control and quality standards [16][17] - Investment recommendations for the traditional Chinese medicine sector include focusing on companies with competitive advantages in product quality and cost, as well as those benefiting from national reforms and centralized procurement policies [18][19]

以岭药业所属申万行业为：医药生物-中药Ⅱ-中药Ⅲ。所属概念板块包括：抗流感、医药电商、禽流感 药物、幽门螺杆概念、中药等。 截至9月30日，以岭药业股东户数15.27万，较上期减少10.22%；人均流通股9013股，较上期增加 11.38%。2025年1月-9月，以岭药业实现营业收入58.68亿元，同比减少7.82%；归母净利润10.00亿元， 同比增长80.33%。 分红方面，以岭药业A股上市后累计派现44.55亿元。近三年，累计派现18.38亿元。 11月18日，以岭药业盘中下跌2.01%，截至09:58，报19.51元/股，成交3.47亿元，换手率1.28%，总市值 325.95亿元。 资金流向方面，主力资金净流出3907.66万元，特大单买入966.15万元，占比2.79%，卖出2662.36万元， 占比7.68%；大单买入6332.97万元，占比18.27%，卖出8544.41万元，占比24.65%。 以岭药业今年以来股价涨24.19%，近5个交易日跌4.69%，近20日涨13.89%，近60日涨23.25%。 今年以来以岭药业已经1次登上龙虎榜，最近一次登上龙虎榜为1月6日，当日龙虎榜净买入640 ...

南财智讯11月17日电，以岭药业公告，公司全资孙公司万洋衡水制药有限公司收到国家药品监督管理局 的《化学原料药上市申请批准通知书》，由衡水万洋提交的盐酸美金刚化学原料药上市申请已获批准。 盐酸美金刚是一种电压依赖性、中等程度亲和力的非竞争性NMDA受体拮抗剂，用于治疗中重度至重 度阿尔茨海默型痴呆。 ...