陕西盘龙药业集团股份有限公司（以下简称"公司"）于2025年8月28日在 巨潮资讯网（www.cninfo.com.cn）上披露了《2025 年半年度报告》。为使广大 投资者更加全面、深入地了解公司经营情况，公司将于2025年9月10日召开2025年 半年度业绩说明会，就投资者关心的问题进行交流。 一、业绩发布会的安排 1、召开时间：2025年9月10日（星期三）下午15:00-17:00 2、召开方式：同花顺路演平台采用网络远程平台文字互动方式 证券代码：002864 证券简称：盘龙药业 公告编号：2025-038 陕西盘龙药业集团股份有限公司 关于举行2025年半年度网上业绩说明会的公告 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。 3、出席人员：董事长谢晓林先生，董事会秘书吴杰先生，独立董事任海云女士， 独立董事牛晓峰先生，副总裁、研究院院长张德柱先生，财务总监祝凤鸣先生。 二、投资者参与方式 欢迎广大投资者积极参与！ 陕西盘龙药业集团股份有限公司董事会 2025年9月5日 https://board.10jqka.com.cn/fe/roadsho ...

Group 1: Company Performance - The company's traditional Chinese medicine business showed steady growth in the first half of 2025, driven by core products and deepened sales strategies [2][3] - "Panlong Seven Tablets," a core product, maintained a leading market position with a market share of 7.73% in the traditional Chinese medicine market for musculoskeletal diseases [6] - The revenue from the Chinese herbal pieces business increased by 380.89% year-on-year, contributing approximately 123 million yuan to the overall revenue [7] Group 2: Product Strategy - The company aims to cultivate and expand secondary products alongside "Panlong Seven Tablets," leveraging a diverse product portfolio including "Bone Health Tablets" and "Gout Relief Tablets" [3] - The company employs targeted marketing strategies for secondary and tertiary products to complement core products and support steady growth in traditional Chinese medicine [3] Group 3: Financial Health - The company reported a solid financial status with ample cash flow, providing a strong foundation for strategic development [4] - The increase in accounts receivable in the first half of 2025 was primarily due to the significant growth in the Chinese herbal pieces business [7] Group 4: Research and Development - The company is committed to increasing R&D investments, focusing on new drug development and innovative drugs with good market prospects [4] - The company has completed the construction of an intelligent production line for Chinese herbal formula granules, with 310 products registered and listed in 18 provinces [7][8] Group 5: Competitive Advantages - "Panlong Seven Tablets" is recognized for its unique formulation and clinical efficacy, supported by nearly 180 academic papers published in authoritative journals [5] - The product has been included in multiple national clinical guidelines and is recognized as a recommended medication for various musculoskeletal conditions [5] Group 6: Future Outlook - The company plans to explore new business opportunities cautiously, focusing on vertical integration and potential acquisitions in the musculoskeletal disease sector [4] - The company emphasizes enhancing shareholder returns through increased dividend frequency and amounts, with a three-year dividend plan approved [8]

Investment Rating - The investment rating for the company is "Buy" with a target of outperforming the industry index by more than 15% over the next six months [5][17]. Core Insights - The company has shown steady revenue growth, with a projected increase in revenue from 9.81 billion CNY in 2023 to 16.71 billion CNY by 2027, reflecting a compound annual growth rate (CAGR) of approximately 14.5% [1][4]. - The net profit attributable to the parent company is expected to grow from 1.10 billion CNY in 2023 to 1.69 billion CNY in 2027, with a notable increase in growth rates, particularly 18.0% in 2027 [1][4]. - The company's leading product, Panlong Qipian, has seen an increase in market share, reaching 7.73% in 2024, maintaining its position as a top competitor in the market for traditional Chinese medicine targeting musculoskeletal diseases [2]. Financial Performance - In the first half of 2025, the company achieved revenue of 574 million CNY, a year-on-year increase of 26.06%, and a net profit of 60 million CNY, up 0.81% year-on-year [1][3]. - The traditional Chinese medicine segment has shown exceptional performance, with revenue growth of 380.89% in the same period [3]. - The company has successfully reduced its expense ratios, with a sales expense ratio of 31.55%, down 8.46 percentage points year-on-year, and a management expense ratio of 5.30%, down 1.57 percentage points year-on-year [3]. Product Development and Market Strategy - The company is accelerating its innovative drug development, with several products in various stages of clinical trials, including PL-JT004 entering the CDE clinical acceptance phase [2]. - The marketing network has been strengthened, covering over 5,000 grade A medical institutions and penetrating more than 30,000 retail pharmacies, creating a dual-driven sales model [3]. - The company aims to build a comprehensive product ecosystem that includes both oral and external applications, as well as classic formulations and high-end innovative drugs [2].

Group 1 - The core viewpoint of the article highlights the recognition of outstanding corporate secretaries, specifically the awarding of the 11th Golden Unicorn Best Corporate Secretary Award to Wu Jie from Panlong Pharmaceutical for his exceptional professional capabilities and performance [1][2] - The role of corporate secretaries is emphasized as a crucial link between listed companies and the capital market, serving multiple functions such as governance, strategic advisory, information disclosure, and investor relations [1][2] - The Golden Unicorn Best Corporate Secretary selection has been held for eleven years, recognizing over 900 outstanding corporate secretaries, and is regarded as a highly authoritative award in the industry, focusing on information disclosure quality, investor communication effectiveness, and contributions to corporate governance and ESG [1][2] Group 2 - An excellent corporate secretary is characterized by their ability to effectively communicate company value in complex market environments, innovate communication methods while adhering to compliance, and demonstrate corporate responsibility during critical moments [2] - Wu Jie, the recipient of the award, exemplifies the qualities of an outstanding corporate secretary, reflecting both personal excellence in capital communication and governance, as well as market and investor recognition of Panlong Pharmaceutical's governance and value growth [2]

Core Viewpoint - Panlong Pharmaceutical (002864.SZ) reported a strong performance for the first half of 2025, achieving revenue growth and profit increase, driven by its "one body, two wings, three depths" strategy, with significant contributions from its core product, Panlong Seven Tablets, and a remarkable growth in traditional Chinese medicine (TCM) decoction pieces [3][4][5]. Financial Performance - In the first half of 2025, Panlong Pharmaceutical achieved revenue of 574 million yuan, a year-on-year increase of 26.06%, and a net profit attributable to shareholders of 60.14 million yuan, up 0.81% [4]. - The company’s self-produced TCM contributed 319 million yuan in revenue, a growth of 2.29%, accounting for 55.5% of total revenue, with a gross margin of 87.26% [5]. - The TCM decoction pieces saw a staggering revenue increase of 380.89%, reaching 123 million yuan, marking it as the fastest-growing product in the first half of the year [5]. Product and Market Strategy - Panlong Seven Tablets maintained a strong market position with a market share of 7.73% in the TCM market for musculoskeletal diseases [7]. - The company has transformed its marketing system, covering over 5,000 medical institutions and tens of thousands of retail terminals, establishing a dual-driven model of "medical + retail" [5][6]. - The company is embracing the "Internet + medicine" trend, enhancing brand communication through digital platforms, which has significantly increased product search volume [8]. Research and Development - R&D investment reached 15.85 million yuan in the first half of 2025, an increase of 11.18%, focusing on innovative TCM and chemical generic drugs [9]. - The number of registered TCM formula granules increased to 310, indicating a robust pipeline for future growth [9][10]. - The company has established a strong R&D platform, with 79 patents held, including 36 authorized invention patents [10]. Investment and Growth Strategy - Panlong Pharmaceutical is actively engaging in investment activities to support its product development goals, with significant progress in its industrial fund investments [11][12]. - The company is focusing on integrating its core business with investment projects to enhance resource synergy and efficiency [12][13]. - A new TCM innovation drug R&D platform has been established in the Guangdong-Hong Kong-Macao Greater Bay Area, targeting the development of TCM for chronic orthopedic diseases [13].

Group 1 - The core initiative involves a donation of 125,000 yuan aimed at supporting 85 students from impoverished families in Zhashui County and Zhen'an County to pursue higher education [1][2] - The donation is a collaborative effort between the Shaanxi Securities Regulatory Bureau, the Shaanxi Listed Companies Association, and Panlong Pharmaceutical, reflecting a commitment to social responsibility and rural revitalization [2][3] - Since 2018, the Shaanxi Listed Companies Association has invested over 1 million yuan in educational assistance, helping more than 500 students achieve their university dreams [3] Group 2 - The Shaanxi Securities Regulatory Bureau emphasizes the importance of aligning regulatory responsibilities with social responsibilities, actively promoting multi-level support initiatives within the local capital market [2] - Local government leaders expressed gratitude for the support provided to students and encouraged them to remain grateful, strive for success, and give back to their communities in the future [3] - The event strengthens the connection between the Shaanxi Listed Companies Association, its member units, and local governments, enhancing the association's role in serving the community [3]

Core Insights - The company reported a strong performance for the first half of 2025, achieving revenue of 574 million yuan, a year-on-year increase of 26.06%, and a net profit of 60.14 million yuan, up 0.81% [2][3] - The growth is attributed to the implementation of the "one body, two wings, three depths" strategy, focusing on orthopedic chronic diseases and enhancing brand integration and innovation in traditional Chinese medicine [2][3] Revenue and Profitability - The company's self-produced traditional Chinese medicine generated revenue of 319 million yuan, contributing 55.5% to total revenue, with a gross margin of 87.26% [3] - The Chinese herbal pieces business saw a remarkable growth of 380.89%, reaching 123 million yuan in revenue, making it the fastest-growing product line [3] Marketing and Distribution - The company has transformed its marketing system, covering over 5,000 medical institutions and tens of thousands of retail terminals, establishing a dual-driven model of "medical + retail" [3] - The company has built a network of over 650 commercial partners across 30 provincial-level administrative regions, enhancing its sales channels [3] Product Development and Innovation - The company invested 15.85 million yuan in R&D during the first half of 2025, a year-on-year increase of 11.18%, focusing on innovative drugs and traditional Chinese medicine [7][8] - The number of registered traditional Chinese medicine formula granules has increased to 310, indicating a strong pipeline for future growth [7] Core Product Performance - The core product, Panlong Qipian, maintained a strong market position with a market share of 7.73% in the orthopedic and rheumatic disease sector [5] - Panlong Qipian has been recognized in multiple national clinical guidelines and has received various accolades, enhancing its brand influence [6] Financial Returns to Shareholders - The company plans to distribute a cash dividend of 1 yuan per 10 shares to shareholders, totaling approximately 10.59 million yuan [4] Investment and Capital Operations - The company is actively engaging in investment activities, with significant progress in its industrial fund projects, particularly in the development of innovative drug delivery systems [9] - The company aims to integrate its capital operations with its core business to drive high-quality development [9]

Core Viewpoint - The company reported a robust performance in the first half of 2025, with significant revenue growth and improved profit quality, driven primarily by the sales increase in traditional Chinese medicine products [1][2]. Group 1: Financial Performance - The company achieved total revenue of 574 million yuan, representing a year-on-year increase of 26.06%, with the traditional Chinese medicine segment contributing significantly [1]. - Revenue from traditional Chinese medicine pieces surged to 123 million yuan, marking a dramatic increase of 380.89% [1]. - The self-produced traditional Chinese medicine segment generated 319 million yuan, accounting for 55.5% of total revenue, with a year-on-year growth of 2.29% [1]. - The net profit attributable to shareholders reached 60 million yuan, reflecting a growth of 0.81%, while the net profit excluding non-recurring items was 53 million yuan, up by 4.19% [1]. Group 2: Market Position and Product Development - The company's leading product, Panlong Qipian, holds a market share of 7.73% in the traditional Chinese medicine market for musculoskeletal and rheumatic diseases in public hospitals [1]. - The product has been included in 8 national clinical guidelines and 4 expert consensus documents, enhancing its clinical value [1]. Group 3: Research and Development - The company increased its R&D investment to 16 million yuan, a rise of 11.13%, focusing on three major pipelines, including innovative traditional Chinese medicines and chemical generic drugs [2]. - The company has initiated clinical research for several new drugs and is progressing with technology transfer and process validation [2]. - The company has established a new "Expert Workstation" in Shaanxi Province and has strengthened its "industry-university-research" collaboration through various national and provincial technology platforms [3]. Group 4: Intellectual Property and Market Expansion - The company holds a total of 79 patents, including 36 authorized invention patents and 43 design patents, with ongoing efforts to enhance its innovation capabilities [3]. - The company has completed the development filing for 310 varieties of traditional Chinese medicine formula granules, laying a foundation for future market expansion [3].

Group 1 - The supervisory board of Shanxi Panlong Pharmaceutical Group Co., Ltd. held its 21st meeting, confirming the legality and accuracy of the company's 2025 semi-annual report [1][2] - The supervisory board unanimously agreed that the company has properly stored and utilized its raised funds, ensuring no violations or damages to shareholders' interests [2] - The profit distribution plan for the first half of 2025 was deemed compliant with relevant laws and beneficial for the company's long-term stability, without harming shareholders' interests [2]

陕西盘龙药业集团股份有限公司 陕西盘龙药业集团股份有限公司 章程 二〇二五年 月 1 | 第一章 总则 | | --- | | 第二章 经营宗旨和范围 5 | | 第三章 服份 . | | 第四章 股东和股东会 . | | 第五章 党的组织 | | 第六章 董事和董事会 | | 第七章 总裁及其他高级管理人员 . | | 财务会计制度、利润分配和审计 第八章 | | 第九章 通知和公告 . | | 合并、分立、增资、减资、解散和清算 第十章 | | 第十一章 修改章程 | | 第十二章 附则 60 | 陕西盘龙药业集团股份有限公司 章程 第一章 总则 第一条 为维护陕西盘龙药业集团股份有限公司（以下简称"公司"）及 其股东、职工和债权人的合法权益，规范公司的组织和行为，根据《中华人民共 和国公司法》（以下简称"公司法"）、《中华人民共和国证券法》（以下简称"证 券法"）、《上市公司证券发行注册管理办法（2025 年修订）》、《上市公司章程指 引》、《深圳证券交易所上市公司自律监管指引第 1 号—主板上市公司规范运作》、 《中国共产党章程》和其他有关规定，制订本章程。 第二条 公司系依照《公司法》和其他有关法律 ...