Core Points - Panlong Pharmaceutical (002864) has successfully passed the rigorous evaluation by the China National Accreditation Service for Conformity Assessment (CNAS) and obtained the laboratory accreditation certificate, effective from June 9, 2025, to June 8, 2031, marking a new benchmark for high-quality development in the traditional Chinese medicine industry [2][3] - The CNAS accreditation signifies that the company's quality control system meets the highest international standards, allowing for mutual recognition of testing data across over 100 economies globally, enhancing the legal authority and international credibility of its testing results [2][3] Company Upgrades - The accreditation will drive upgrades in three key areas: - Research and Development: Accelerating the validation of the effectiveness of new traditional Chinese medicines through a high-standard testing platform [3] - Production: Ensuring a lean production process that guarantees a comprehensive traceability system from raw materials to finished products [3] - Market: Strengthening customer trust and providing international recognition to the "Panlong" brand [3] Strategic Validation - The CNAS recognition is seen as validation of the company's strategy to build its brand on quality, with plans to integrate modern testing technologies with traditional Chinese medicine wisdom, ensuring that every medicinal material and product meets global standards [3]

一、证书内容 获得机构名称：陕西盘龙药业集团股份有限公司检验检测中心 证券代码：002864 证券简称：盘龙药业 公告编号：2025-028 陕西盘龙药业集团股份有限公司 关于获得中国合格评定国家认可委员会（CNAS）实验室认 可证书的自愿性信息披露公告 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。 陕西盘龙药业集团股份有限公司（以下简称"公司"）于近日获得中国合格 评定国家认可委员会（英文名称为"China National Accreditation Service for Conformity Assessment"，以下简称"CNAS"）实验室认可证书，现将相 关事宜公告如下： 司检测中心的管理水平和检测能力获得国家及国际的认可，具备了按照国家标准 开展检测的能力，对保障公司产品质量、强化公司产品研发能力、增强客户对公 司的认同感及信任感具有促进作用，将进一步提升公司的综合竞争力，推动公司 实现可持续的高质量发展。 注册号：CNAS L23337 生效日期：2025 年 6 月 9 日 截止日期：2031 年 6 月 8 日 证书主要内容：陕西盘龙药 ...

Core Viewpoint - The company, Panlong Pharmaceutical (002864), has recently obtained the CNAS laboratory accreditation certificate, enhancing its competitive edge and supporting sustainable high-quality development [1] Group 1: Accreditation Details - The certificate registration number is CNAS L23337, effective from June 9, 2025, to June 8, 2031 [1] - The testing and inspection center complies with ISO/IEC 17025:2017, which outlines general requirements for the competence of testing and calibration laboratories [1] - CNAS is a member of the International Laboratory Accreditation Cooperation (ILAC) and the Asia-Pacific Accreditation Cooperation (APAC) mutual recognition agreements [1] Group 2: Implications for the Company - The accreditation signifies national and international recognition of the company's management level and testing capabilities [1] - The company is now equipped to conduct testing according to national standards, which will further enhance its overall competitiveness [1] - This development is expected to drive the company towards sustainable high-quality growth [1]

Core Viewpoint - Panlong Pharmaceutical has been recognized for its excellence in investor relations management, winning the "Outstanding Investor Relations Management Team Award" at the 16th Tianma Awards, reflecting the capital market's high regard for the company's governance structure and investor relations efforts [1][5] Financial Performance - In 2024, Panlong Pharmaceutical achieved a profit of 137 million yuan, representing a year-on-year increase of 5.96%, with net profit attributable to shareholders reaching 120 million yuan, up 8.91% [3] - The company continued its growth momentum into the first quarter of 2025, with operating revenue increasing by 19.08% year-on-year and profit rising by 18.14%, showcasing operational stability [3] - Over the past eight years since its listing, Panlong Pharmaceutical has maintained continuous profit growth, which is fundamental to building long-term investor trust [3] Product and R&D Strategy - The company focuses on the "rheumatism and bone disease, chronic pain" sector, employing a research and development strategy that combines market orientation with innovation [4] - Panlong Pharmaceutical is developing new products such as PLJT-001, PLJT-002, PLJT-003, and PLJT-004, and is enhancing its product pipeline through a "1+N" large R&D system [4] - The establishment of a new drug R&D platform in the Guangdong-Hong Kong-Macao Greater Bay Area and partnerships with top universities and research institutions have significantly strengthened the company's innovation capabilities [4] Investor Relations Management - The award for "Outstanding Investor Relations Management Team" underscores the company's commitment to building long-term, stable, and trustworthy relationships with investors [5] - Since its listing in 2017, Panlong Pharmaceutical has distributed a total of 133 million yuan in cash dividends, reflecting its governance philosophy that prioritizes shareholder interests [5] - The company has actively engaged in investor communication through multiple performance briefings and annual shareholder meetings, while also expanding online communication channels to ensure timely responses to investor concerns [5]

Investment Rating - The report provides a positive investment rating for Panlong Pharmaceutical, indicating strong growth potential and competitive advantages in the market [1]. Core Insights - Panlong Pharmaceutical is a leading enterprise in the field of traditional Chinese medicine, focusing on the production and sales of proprietary Chinese medicines, including its flagship product, Panlong Seven Tablets, which holds a unique market position and has shown significant sales growth [2][3]. - The company is expanding its product line with the introduction of formula granules, which are expected to drive a second growth curve, targeting the increasing demand in grassroots medical markets [3][67]. Company Overview - Panlong Pharmaceutical, established in 1997 and listed on the Shenzhen Stock Exchange in 2017, operates a comprehensive business model that includes standardized planting of medicinal materials, production, research and development, sales, and logistics [12]. - The company has a robust product portfolio covering 12 functional categories with over 100 specifications, primarily focusing on rheumatology and orthopedics [13][27]. Industry Situation - The traditional Chinese medicine industry is experiencing steady growth, with the market for Chinese patent medicines projected to increase significantly due to supportive government policies and rising health awareness among the aging population [49][61]. - The market for formula granules is witnessing explosive growth, with a compound annual growth rate (CAGR) of approximately 48% from 2020 to 2024, driven by policy incentives and increasing clinical acceptance [55][59]. Growth Highlights - The flagship product, Panlong Seven Tablets, has a market share of 8.05% in the traditional Chinese medicine market for musculoskeletal diseases, with sales increasing from 155 million yuan in 2015 to 410 million yuan in 2023, reflecting a compound annual growth rate of 12.93% [2][67]. - The company aims to expand its formula granule offerings from 211 to over 400 varieties, leveraging intelligent production lines and benefiting from provincial standard recognition policies [3][73]. Financial Performance - The company has demonstrated consistent revenue growth, achieving 974 million yuan in revenue in 2024, with a net profit growth rate of approximately 11.0% from 2020 to 2024 [31][42]. - The financial structure is robust, with a cash ratio exceeding 50% of total assets, indicating strong cash flow and financial stability [42].

Group 1: Financial Performance - The company's revenue from traditional Chinese medicine (TCM) decoction pieces increased by 292.84% year-on-year, but the gross margin was not disclosed [1] - The net profit attributable to the parent company for the current period was 120.27 million yuan, an increase of 983.94 thousand yuan year-on-year, with a net profit margin of 12.35%, up by 1.09% [3] - The company's R&D expenses accounted for 5.82% of the revenue from self-produced TCM, with a year-on-year increase of 85.31% [3] Group 2: Strategic Development - The company has adopted a "one body, two wings, three depths" development strategy, focusing on core business and technological innovation to enhance operational efficiency and profitability [2] - Future plans include expanding market share of core products and increasing the scale of TCM decoction pieces through various channels [5] - The company aims to strengthen its market position by enhancing product awareness and optimizing marketing networks in grassroots markets [8] Group 3: Market Position and Competition - The leading product, Panlong Qipian, holds the first market share in the TCM market for musculoskeletal diseases, with a market share of 8.05% [4] - The company is recognized for its unique patented products and has received multiple awards, enhancing its competitive edge in the market [4] - The company plans to deepen evidence-based research on Panlong Qipian and adjust market strategies to adapt to changing market conditions [4] Group 4: Future Outlook - The TCM industry is expected to experience significant growth driven by national policies, increasing demand, and international market expansion [7] - The company is committed to leveraging opportunities from the "Belt and Road" initiative to promote TCM products internationally [6] - The target market for musculoskeletal and chronic disease treatments is projected to grow steadily due to an aging population and rising health awareness [7]

证券代码：002864 证券简称：盘龙药业 公告编号：2025-027 陕西盘龙药业集团股份有限公司 2024 年年度权益分派实施公告 一、股东会审议通过的权益分派方案 1 1.2024 年年度权益分派方案为：以公司现有总股本 106,280,960 股剔除回购 专用账户中已回购股份 373,500 股后的股本 105,907,460 股为基数，向全体股东 每 10 股派发现金分红 2.5 元（含税）。2024 年度，公司不实施资本公积转增股 本，不送红股。若本次利润分配预案披露之日起至实施权益分派股权登记日期间， 公司总股本及已回购股份数量发生变动的，则以实施分配方案时股权登记日的总 股本剔除回购专用账户中已回购股份为基数，公司将按照"现金分配总额不变" 的原则对分配比例进行调整。 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.陕西盘龙药业集团股份有限公司（以下简称"公司"）回购专用账户持有 的股份 373,500 股不参与本次权益分派。 2.公司 2024 年年度权益分派方案为：以公司现有总股本 106,280,960 股剔 除回购专用账 ...

证券代码：002864 证券简称：盘龙药业 公告编号：2025-026 关于举行 2024 年年度网上业绩说明会的公告 3、出席人员：董事长谢晓林先生、董事会秘书吴杰先生、独立董事牛晓峰 先生、副总裁张德柱先生、财务总监祝凤鸣先生 二、投资者参与方式 问题征集方式： 陕西盘龙药业集团股份有限公司 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。 陕西盘龙药业集团股份有限公司（以下简称"公司"）于 2025 年 4 月 25 日在巨潮资讯网上（www.cninfo.com.cn）披露了《2024 年年度报告》。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 5 月 23 日召开 2024 年年度业绩说明会，就投资者关心的问题进行交流。 一、业绩说明会安排 1、召开时间：2025 年 5 月 23 日（星期五）下午 15:00-17:00 2、召开方式：同花顺路演平台采用网络远程文字互动方式 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 5 月 21 日 https://board.10jqka.com.cn/ ...

Core Viewpoint - The company, Panlong Pharmaceutical, has demonstrated stable performance in a challenging traditional Chinese medicine (TCM) industry, attracting investor interest through its consistent profit growth and significant investment in research and development (R&D) [1] R&D Investment and Progress - The company reported an 85.31% increase in R&D expenses, amounting to an additional 17.28 million yuan, reflecting its commitment to innovation [2] - R&D expenses accounted for 5.05% of the revenue from self-produced TCM products, indicating a strong focus on developing new drugs [2] - The flagship product, Panlong Qipian, holds an 8.05% market share in the TCM market for musculoskeletal and rheumatic diseases, ranking first in this segment [2] Collaborative Research and Development - The company has partnered with several universities to conduct extensive research on Panlong Qipian, resulting in 13 high-level academic papers published, including 4 in SCI journals [3] - The R&D strategy includes exploring new drug mechanisms, optimizing production processes, and developing new formulations and indications [3] Comprehensive R&D Strategy - The company is accelerating the development of new products through a "1+N" R&D matrix, which includes various types of drugs and formulations [4] - The pipeline includes innovative TCM drugs and generic drugs, with significant progress in clinical exploration and pilot testing of several products [4] Innovation and Commercialization - The company has established a robust R&D system, supported by multiple research platforms and bases, enhancing its innovation capabilities [5] - New research platforms have been approved, facilitating collaboration with enterprises and institutions to drive technological advancements [5][6] Marketing and Distribution Network - The company has developed a comprehensive marketing network across 30 provinces, covering over 4,800 hospitals and 7,000 pharmacies, which strengthens its market position [7] - The company is also focusing on expanding into underdeveloped county markets and leveraging e-commerce platforms to reach consumers directly [7] Future Growth Strategy - The company aims to enhance its core product market share and expand into new markets, with a vision to become a leader in TCM for rheumatic diseases and chronic pain management [7]

Market Performance - The company's leading product, Panlong Qipian, holds a market share of 8.05% in the traditional Chinese medicine market for musculoskeletal and rheumatic diseases, ranking first in the sector [1][8]. - The revenue from self-produced traditional Chinese medicine increased by 10.2% in 2024, while the overall revenue slightly decreased by 0.71% due to the impact of divesting the pharmaceutical distribution segment [6][16]. Financial Management - The company reported a 36.72% year-on-year decline in revenue from its pharmaceutical distribution business, which now accounts for 23.75% of total revenue [3][17]. - The cash dividend payout ratio for 2024 is set at 26.42%, with cash reserves constituting 51.29% of total assets, indicating a focus on strategic investments over immediate higher dividends [8][18]. R&D and Innovation - R&D investment increased by 85.31% year-on-year, yet the R&D expense ratio remains low at 3.85%, below the industry average [4][7]. - The company has completed the registration of 211 varieties of traditional Chinese medicine formula granules, marking significant progress in this area [12][30]. Strategic Initiatives - The company aims to enhance its market position by focusing on the "One Body, Two Wings, Three Depths" strategy, emphasizing high-quality development and operational efficiency [10][11]. - Plans include expanding into new therapeutic areas and dosage forms to mitigate market share erosion risks [4][8]. Shareholder Engagement - The company emphasizes shareholder returns through cash dividends and share buybacks, alongside maintaining robust communication with investors to enhance market perception of its value [2][5]. - The management is committed to balancing growth strategies with financial risk control, as evidenced by a 1.19 percentage point increase in the debt-to-asset ratio, which remains manageable at 28.19% [3][6].