证券日报网讯佛慈制药（002644）8月28日发布公告，在公司回答调研者提问时表示，2025年上半年， 公司巩固国内存量市场销售的同时，全力开发潜在市场，系统梳理不同渠道及重点客户，制定差异化产 品销售政策，并借助"京东""天猫"等互联网电商平台，实现线上线下（300959）销售结合，全力提升产 品市场占有率。目前，商业连锁销售占比60%以上，医疗渠道销售占比约20%，线上、代理等其他渠道 销售占比约20%，各渠道整体销售情况较去年同期变化较小。 ...

Core Viewpoint - The company reported an increase in gross margin for its traditional Chinese medicine manufacturing segment, attributed to lower raw material costs and improved operational efficiency [1] Group 1: Financial Performance - The gross margin for the traditional Chinese medicine manufacturing segment in the first half of 2025 is 39.93%, an increase of 5.32% compared to the same period last year [1] - The decrease in the price of Chinese medicinal materials has contributed to a reduction in production costs [1] Group 2: Strategic Initiatives - The company is focusing on expanding its external market reach and enhancing internal cost reduction and efficiency measures [1] - Future plans include continuous market development and further cost reduction to improve overall profitability and product gross margin [1]

Core Viewpoint - The company, Foci Pharmaceutical, announced on August 28 that its leading products in sales for the first half of 2025 will include traditional Chinese medicine products such as Liuwei Dihuang Wan, Erchen Wan, Xiaoyao Wan, Guipi Wan, Bazhen Wan, and others, indicating a strong market presence and strategic focus on these items [1] Product Strategy - The company plans to continue its strategy of developing major products, aiming to consolidate and enhance the market share of traditional concentrated pill products like Liuwei Dihuang Wan series [1] - There is a particular emphasis on increasing sales of unique products such as Shenrong Gudan Wan and Fufang Huangqi Jianpi Oral Liquid, as well as high-demand products like Erchen Wan, Angong Niuhuang Wan, Bazhen Wan, and Anshen Buxin Wan [1]

Core Viewpoint - The company is focusing on high-quality development and actively responding to changes in industry policies and market conditions, aiming to improve operational efficiency and management indicators [1] Financial Performance - In the first half of 2025, the company's operating revenue was 429 million yuan, and the net profit attributable to shareholders was 30.10 million yuan [1] - The net cash flow from operating activities was 17.88 million yuan, achieving a positive turnaround with a year-on-year growth of 364.33% [1] - The overall gross profit margin in the first half of 2025 increased compared to the entire year of 2024 [1] Strategic Initiatives - The company is committed to exploring market potential, strengthening cost control, and enhancing internal management to stabilize and improve operational management indicators [1]

Group 1 - The company announced on August 28 that its products have been exported to 32 countries and regions, including the United States and Canada, with various dosage forms such as concentrated pills, granules, tablets, and capsules [1] - Since passing the Australian TGA GMP inspection in 1996, the company has become one of the first Chinese traditional medicine enterprises to obtain PIC/S quality system certification and has received multiple international GMP certifications, including from the Australian TGA and Japan's Ministry of Health [1] - The company has achieved a total of 1,442 overseas product registrations and maintains a leading position in the industry regarding the number of foreign certifications, overseas trademark registrations, export coverage, and variety of products [1] Group 2 - The company plans to continue expanding its overseas market presence and deepen international cooperation by leveraging its export advantages through brand building and channel sharing to increase its international market share [1]

Financial Performance - In the first half of 2025, the company's revenue reached 3,010.46 million CNY, with a net profit attributable to shareholders of 42.9 million CNY, and a net cash flow from operating activities of 1,788.09 million CNY, achieving a year-on-year growth of 364.33% [2][4] - The overall gross margin for the first half of 2025 increased to 39.93%, up by 5.32% compared to the same period last year [3][7] Sales Channels and Market Strategy - The company maintained over 60% sales from commercial chains, approximately 20% from medical channels, and around 20% from online and other channels, with overall sales performance remaining stable compared to the previous year [4] - The company is leveraging e-commerce platforms like JD and Tmall to enhance market share and develop potential markets [4] Product Development and Innovation - The company is focusing on the secondary development of four unique products, including the Ren Shen Gu Ben Wan and Fu Fang Huang Qi Jian Pi Oral Liquid, aiming to enhance their market competitiveness through technological upgrades [6] - Major products with strong sales in the first half of 2025 include Liu Wei Di Huang Wan, Er Chen Wan, and An Gong Niu Huang Wan, with plans to continue promoting these key products [5] International Expansion - The company has exported products to 32 countries and regions, including the USA, Canada, and Australia, and has achieved significant international certifications, including TGA and PIC/S [8] - Future plans include increasing international market share through brand collaboration and channel sharing [8] Cost Management and Future Planning - The decrease in sales expenses is attributed to a decline in revenue and effective cost control measures implemented by the company [8] - The company is actively developing its "14th Five-Year Plan," focusing on marketing breakthroughs, brand building, and innovation in research and development [8]

Core Viewpoint - 佛慈制药 reported a decline in revenue amidst an overall downturn in the pharmaceutical manufacturing industry, but achieved significant growth in operating cash flow and maintained a strong net asset growth rate [1][2] Group 1: Financial Performance - The company's revenue for the first half of 2025 was 429 million yuan, a decrease compared to the same period last year [1] - Net profit attributable to shareholders was 30.1 million yuan, with operating cash flow turning positive at 17.88 million yuan, representing a year-on-year growth of 364.33% [1] - The average year-on-year growth rate of net assets was 2.69%, positioning the company at the top level within the industry [1] Group 2: Business Strategy - The pharmaceutical sector remains the primary revenue source for 佛慈制药, accounting for 99.85% of total income [1] - The company is optimizing its marketing structure and market layout, focusing on channel development and management to enhance product market share [1] - Key strategies include expanding market presence in various regions, integrating online and offline sales channels, and strengthening management through a comprehensive oversight system [1] Group 3: Brand and Product Development - 佛慈制药 is actively advancing brand building and has received multiple industry accolades, including recognition in the first batch of China's consumer brand list [2] - The company is progressing in new drug development, with three ancient classic formulas under development and one product entering non-clinical safety evaluation [2] - Future plans include a focus on large product development strategies, enhancing market share of traditional products, and increasing sales of exclusive varieties [2]

Core Insights - Lanzhou Foci Pharmaceutical Co., Ltd. reported a revenue of 429 million yuan and a net profit of 30.1 million yuan for the first half of 2025 [1] - The company is a key player in the traditional Chinese medicine industry in Northwest China, with a history dating back to 1929 and recognized as a "Chinese Time-honored Brand" [1] - Foci Pharmaceutical has a strong product portfolio with 467 drug approval numbers and 10 exclusive national products, contributing to its position among the top ten Chinese traditional medicine exporters [1] Group 1 - The company is focusing on high-quality development by exploring market potential, enhancing cost control, improving operational efficiency, and refining internal management [1] - Foci Pharmaceutical is optimizing its marketing structure and market layout, strengthening channel development and management to increase product market share [2] - The company is expanding its market coverage in South China, East China, North China, Southwest China, and overseas while consolidating its existing market in Northwest China [2] Group 2 - The company is leveraging e-commerce platforms like JD and Tmall to enhance online and offline sales integration, further boosting market share [2] - Foci Pharmaceutical is advancing the R&D of three ancient classic prescriptions as new drugs, with one already in non-clinical safety evaluation and the others in laboratory process research [2] - The company is also focusing on the secondary development of major products and integrating traditional Chinese medicine with health consumption trends to build momentum for long-term growth [2]

（2025年1月1日至2025年6月30日止） | 目 录 | 页 次 | | --- | --- | | 一、财务报表 | | | 合并资产负债表 | 1-2 | | 合并利润表 | 3 | | 合并现金流量表 | 4 | | 合并所有者权益变动表 | 5-6 | | 母公司资产负债表 | 7-8 | | 母公司利润表 | 9 | | 母公司现金流量表 | 10 | | 母公司所有者权益变动表 | 11-12 | | 二、财务报表附注 | 13-95 | 合并资产负债表 2025年6月30日 编制单位：兰州佛慈制药股份有限公司 金额单位：人民币元 | 项 目 | 注释 | 2025年6月30日 | 2025年1月1日 | | --- | --- | --- | --- | | 流动资产： | | | | | 货币资金 | 五、1 | 384,119,508.08 | 397,893,224.19 | | 交易性金融资产 | | | | | 衍生金融资产 | | | | | 应收票据 | 五、2 | 88,032,040.23 | 68,049,181.58 | | 应收账款 | 五、3 | 338,386, ...

兰州佛慈制药股份有限公司 2025 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 | 甘肃佛慈健康生物科技股 | 受同一母公司 | 应收 | | 450.00 | | 450.00 | 销售货物 | 经营性往来 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 份有限公司 | 控制 | | | | | | | | | 陕西佛慈医药有限公司 | 受同一母公司 | 应收 | 44,796,730.61 | 13,155,286.33 | 6,743,319.07 | 51,208,697.87 | 销售货物 | 经营性往来 | | | 控制 | | | | | | | | | 兰州佛慈伟业医药有限责 | 受同一母公司 | 应收 | 8,606,369.34 | 7,918,024.59 | 8,095,977.83 | 8,428,416.10 | 销售货物 | 经营性往来 | | 任公司 | 控制 | | | | | | | | | 兰州佛慈西城药业集团有 | 受同一母公司 | 应收 | 6,239,790.33 | 57,477,52 ...