证券日报网讯 10月17日晚间，以岭药业发布公告称，本公司于2025年10月17日接到公司实际控制人吴 相君的通知，获悉吴相君所持有本公司的部分股份办理质押展期。本次质押展期数量为15，000，000 股。 （编辑 姚尧） ...

石家庄以岭药业股份有限公司 关于实际控制人部分股份质押展期的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 石家庄以岭药业股份有限公司（以下简称"公司"或"本公司"）于2025年10月 17日接到公司实际控制人吴相君的通知，获悉吴相君所持有本公司的部分股份办 理质押展期，具体事项如下： 一、股东部分股份质押展期的基本情况 | | 是否为控股 | | 占其所 | 占公司 | 是否为 | 是否为补 | 原质押起 | | 展期后到 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东名 | 股东或第一 | 本次质押展 | 持股份 | 总股本 | | | | | | 质权人 | 质押 | | 称 | 大股东及其 | 期数量（股） | 比例 | 比例 | 限售股 | 充质押 | 始日 | | 期日 | | 用途 | | | 一致行动人 | | | | | | | | | | | | | 公司第二大 股东，公司实 | | | | | | 2024 年 ...

Core Viewpoint - The Chinese medicine sector is experiencing a resurgence, with the Chinese Medicine ETF (560080) showing strong performance and attracting significant capital inflows, indicating investor confidence in the sector's recovery and growth potential [1][2]. Group 1: Market Performance - The Chinese Medicine ETF (560080) rose by 0.82%, marking a strong three-day upward trend, with a trading volume exceeding 120 million yuan on the day [1]. - The ETF has seen a net inflow of over 230 million yuan in the last ten days, bringing its total size to over 2.7 billion yuan, leading its peers significantly [1]. - Key constituent stocks such as Yiling Pharmaceutical and Darentang saw gains of over 5% and 4% respectively, while other stocks like Yunnan Baiyao and Pianzaihuang also experienced slight increases [1][4]. Group 2: Financing and Investment Trends - Leveraged funds are increasingly using the ETF to invest in the high-value Chinese medicine consumer sector, with the latest financing balance exceeding 82 million yuan, maintaining historical highs [2]. - The Chinese medicine sector is viewed as having a higher valuation attractiveness, with the ETF's price-to-earnings ratio at 25.37, positioned at the 24.65% percentile over the past decade [5]. Group 3: Policy and Industry Developments - Jiangxi Province has recently issued guidelines to enhance the quality of Chinese medicine and promote high-quality development in the industry, focusing on modernizing Chinese medicinal material breeding and resource protection [3]. - The industry is expected to see improvements in operational fundamentals as inventory levels normalize and external pressures ease, with a projected recovery in growth rates in the latter half of the year [7][8]. Group 4: Strategic Focus Areas - Analysts suggest focusing on three main lines within the Chinese medicine industry: price governance, consumption recovery, and state-owned enterprise reform, which are expected to drive growth and investment opportunities [9][10]. - The recovery of consumer demand, driven by macroeconomic improvements and an aging population, is anticipated to boost sales of consumer-oriented Chinese medicine products [10].

Core Viewpoint - Yiling Pharmaceutical's stock has shown a mixed performance in recent trading sessions, with a year-to-date increase of 3.00% and a recent decline over the past 20 days of 4.85% [1] Company Performance - As of October 16, Yiling Pharmaceutical's stock price was 16.49 yuan per share, with a market capitalization of 27.55 billion yuan [1] - The company reported a revenue of 4.04 billion yuan for the first half of 2025, a year-on-year decrease of 12.26%, while the net profit attributable to shareholders was 669 million yuan, reflecting a year-on-year increase of 26.03% [2] Shareholder Information - As of June 30, 2025, the number of shareholders for Yiling Pharmaceutical was 170,100, a decrease of 8.18% from the previous period, with an average of 8,093 circulating shares per shareholder, an increase of 8.91% [2] - The company has distributed a total of 4.455 billion yuan in dividends since its A-share listing, with 1.838 billion yuan distributed in the last three years [3] Institutional Holdings - As of June 30, 2025, the largest circulating shareholder was Hong Kong Central Clearing Limited, holding 17.59 million shares, a decrease of 5.68 million shares from the previous period [3] - The Southern CSI 500 ETF was the fifth largest circulating shareholder, increasing its holdings by 1.77 million shares to 12.40 million shares [3]

Group 1 - The core point of the article is that Yiling Pharmaceutical announced a cash dividend distribution plan for the first half of 2025, proposing to distribute 3 RMB per 10 shares to all shareholders [2] - The record date for the dividend distribution is set for October 21, 2025, and the ex-dividend date is October 22, 2025 [2]

证券代码：002603 证券简称：以岭药业 公告编号：2025-039 石家庄以岭药业股份有限公司 2025 年半年度权益分派实施公告 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。 石家庄以岭药业股份有限公司（以下简称"公司"或"本公司"）2025 年 半年度权益分派方案已获 2025 年 9 月 15 日召开的 2025 年第一次临时股东大会 审议通过，现将权益分派事宜公告如下： 一、权益分派方案 本公司 2025 年半年度权益分派方案为：以公司现有总股本 1,670,705,376 股 为基数，向全体股东每 10 股派 3.000000 元人民币现金（含税；扣税后，通过深 股通持有股份的香港市场投资者、境外机构（含 QFII、RQFII）以及持有首发前 限售股的个人和证券投资基金每 10 股派 2.700000 元；持有首发后限售股、股权 激励限售股及无限售流通股的个人股息红利税实行差别化税率征收，本公司暂不 扣缴个人所得税，待个人转让股票时，根据其持股期限计算应纳税额【注】；持 有首发后限售股、股权激励限售股及无限售流通股的证券投资基金所涉红利税， 对 ...

Core Viewpoint - The Chinese medicine sector shows resilience with the Chinese Medicine ETF (560080) rising by 0.28% despite market fluctuations, indicating strong investor interest and a net inflow of over 220 million yuan in the past 10 days [1][3]. Market Performance - The Chinese Medicine ETF (560080) has maintained a premium, closing with a premium rate of 0.14%, and has seen a total trading volume exceeding 1 billion yuan [1]. - Major stocks within the ETF, such as Dong'e Ejiao and Yunnan Baiyao, have shown positive performance, with Dong'e Ejiao increasing by over 1% [3][4]. Index Performance - The Chinese medicine index has experienced a negative return of -2.86% year-to-date, with a decline of 8.13% projected for 2024 [4]. - The index has shown a pattern of alternating performance, with three consecutive years of gains from 2019 to 2021, followed by three years of declines from 2016 to 2018 [4]. Valuation Metrics - The TTM price-to-earnings ratio for the Chinese Medicine ETF (560080) stands at 24.86, placing it at the 20.6% percentile of the past decade, suggesting a favorable valuation [6]. Financing and Investment Trends - Leveraged funds are increasingly utilizing the ETF for exposure to the higher-value Chinese medicine consumer sector, with the latest financing balance exceeding 91 million yuan, maintaining historical highs [7]. - The overall sentiment in the Chinese medicine sector is expected to improve, driven by stable market demand and accelerated innovation [9]. Future Outlook - The Chinese medicine sector is anticipated to benefit from innovation and transformation, with a focus on new product development and cost reductions in raw materials [9][10]. - The sector is positioned to leverage its advantages in preventive healthcare and as a complementary treatment alongside Western medicine [10]. Corporate Governance and Incentives - Recent corporate governance improvements and incentive plans in state-owned enterprises are expected to drive growth in the Chinese medicine sector, with companies like Huaren Sanjiu and Jiangzhong Pharmaceutical implementing effective incentive programs [11][12]. Dividend Yield - Several Chinese medicine companies are projected to have dividend yields exceeding 3% in 2024, with state-owned enterprises leading in this regard, indicating strong cash flow and shareholder returns [13][14].

Core Viewpoint - Yiling Pharmaceutical has successfully passed the extended inspection of the "Good Agricultural Practices" (GAP) for its medicinal herb planting bases, indicating compliance with quality management standards in traditional Chinese medicine [1] Group 1: Company Achievements - On October 9, Yiling Pharmaceutical's safflower planting base was inspected by the Hebei Provincial Drug Administration and the Xinjiang Uygur Autonomous Region Drug Administration [1] - The comprehensive evaluation of the inspection results showed that Yiling Pharmaceutical meets the required standards [1] - In addition to the safflower base, Yiling Pharmaceutical has multiple bases, including for forsythia and honeysuckle, that have also passed the GAP extended inspections [1]

Investment Rating - The report indicates a positive investment outlook for the innovative pharmaceutical sector, suggesting a focus on companies with sustained high growth in performance [3][4][11]. Core Insights - The innovative pharmaceutical industry is expected to continue its high revenue growth trend, with specific attention on companies in the medical devices, CXO, and upstream sectors [3][4]. - The report highlights the performance forecasts for 22 pharmaceutical companies, with several expected to achieve significant profit growth in Q3 2025 [3][4]. - The report emphasizes the importance of monitoring companies that consistently maintain high growth rates, such as 恒瑞医药 (Hengrui Medicine), 迈瑞医疗 (Mindray), and others [3][4][11]. Performance Forecasts - As of October 11, 2025, two pharmaceutical companies have released their Q3 2025 performance forecasts, with 重药控股 (Zhongyao Holdings) expecting a profit growth rate between 39.89% and 117.47%, and ST 诺泰 (ST Nuotai) expecting a growth rate between 5.62% and 13.74% [4]. - The report predicts that five companies will achieve profit growth rates of 40% or more, including 以岭药业 (Yiling Pharmaceutical) and 福瑞股份 (Furui Co.) [3][4]. - Revenue forecasts for 33 pharmaceutical companies indicate that seven companies are expected to achieve revenue growth rates of 40% or more, including 三生国健 (3SBio) and 艾迪药业 (Eddie Pharmaceuticals) [3][4]. Company-Specific Insights - The report provides detailed profit and revenue forecasts for various companies, indicating significant expected growth for companies like 以岭药业 (Yiling Pharmaceutical) with a projected profit increase of 1150% year-on-year [6][9]. - Specific revenue growth rates are forecasted for companies such as 恒瑞医药 (Hengrui Medicine), which is expected to achieve a revenue increase of 12% to 17% [10][11]. - The report includes a valuation table for key companies, indicating projected earnings per share (EPS) and price-to-earnings (PE) ratios for the coming years [11].

Investment Rating - The industry investment rating is "Overweight," indicating that the industry is expected to outperform the overall market [18]. Core Insights - The report emphasizes the sustained high growth of innovative drugs and suggests focusing on companies with consistently high performance in the innovative drug sector, as well as those in the medical devices, CXO, and upstream segments that are showing significant improvement [3][4]. Performance Forecast - As of October 11, 2025, two pharmaceutical companies have released performance forecasts for Q3 2025, with Heavy Drug Holdings expecting a profit growth rate between 40% and 117%, and ST Nuotai expecting a growth rate between 6% and 14% [4]. - For Q3 2025, the report predicts the following net profit growth rates for 22 pharmaceutical companies: - 5 companies with growth rates of 40% and above: Yiling Pharmaceutical, Furuide, Huakang Clean, Haitai New Light, and Beida Pharmaceutical - 3 companies with growth rates between 20% and 35%: Heng Rui Pharmaceutical, Jianyou Pharmaceutical, and Zuoli Pharmaceutical - 7 companies with growth rates between 10% and 20%: Wo Wu Biological, Jingxin Pharmaceutical, Enhua Pharmaceutical, Xinmai Medical, Kaiyin Technology, Huaxia Eye Hospital, and Qianyuan Pharmaceutical - 6 companies with growth rates between 0% and 10%: Aier Eye Hospital, Kangchen Pharmaceutical, Renfu Pharmaceutical, Weier Pharmaceutical, Jiuzhitang, and Guangyuyuan - 1 company is expected to turn a profit: New Mileage [3][4][6]. Revenue Forecast - The report forecasts revenue growth for 33 pharmaceutical companies in Q3 2025 as follows: - 7 companies with growth rates of 40% and above: San Sheng Guo Jian, Aidi Pharmaceutical, Xinmai Medical, Zejing Pharmaceutical-U, Huakang Clean, Dize Pharmaceutical-U, and Haitai New Light - 9 companies with growth rates between 20% and 40%: Nuo Cheng Jian Hua-U, Bai Ji Shen Zhou-U, Wei Xin Biological, Jun Shi Biological-U, Furuide, Kang Huo Nuo, Meng Ke Pharmaceutical-U, Ke Xing Pharmaceutical, and Qianyuan Pharmaceutical - 10 companies with growth rates between 10% and 20%: Olin Biological, Beida Pharmaceutical, Xinlitai, Wo Wu Biological, Guangyuyuan, Heng Rui Pharmaceutical, Kaili Medical, Kangchen Pharmaceutical, Kaiyin Technology, and Wu Ming Kang De - 3 companies with growth rates between 5% and 10%: Enhua Pharmaceutical, Mai Rui Medical, and Aier Eye Hospital - 4 companies with growth rates between 0% and 5%: Changchun High-tech, Runda Medical, Weier Pharmaceutical, and Yiling Pharmaceutical [3][7][9]. Key Companies to Watch - The report suggests focusing on companies that are expected to maintain high growth in Q3 2025, including Heng Rui Pharmaceutical, Changchun High-tech, Kelong Pharmaceutical, Enhua Pharmaceutical, Mai Rui Medical, Furuide, Xiangsheng Medical, Huakang Clean, Wu Ming Kang De, Kanglong Huacheng, Kailai Ying, Pruisi, and Hanbang Technology [3][4].