证券代码：002864 证券简称：盘龙药业 公告编号：2025-029 陕西盘龙药业集团股份有限公司 关于收到盘龙七凝胶贴膏申请受理通知书的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、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"）于近日收到国家药品 监督管理局核准下发的盘龙七凝胶贴膏注册临床试验的受理通知书，现将基本情 况公告如下： 一、受理通知书基本内容 产品名称：盘龙七凝胶贴膏 申请事项：境内生产药品注册临床试验 审查结论：根据《中华人民共和国行政许可法》第三十二条的规定，经审查， 决定予以受理。 二、药品的基本情况 盘龙七凝胶贴膏是根据著名骨伤专家王家成老先生所献祖传秘方制成的独家品种 盘龙七药酒的基础上的中药改良型创新药，其功能主治：活血化瘀、祛风除湿、消肿 止痛。适用于膝骨关节炎（气滞血瘀证）。 三、对公司的影响及主要风险提示 受理号：CXZL2500066 规格：每贴13.5cm×8.5cm，相当于饮片2.28g 申请人：陕西盘龙药业集团股份有限公司 2025年8月20日 3 3 如上述品种临床试验进展顺利，将丰富完善公司产品线布局、提 ...

Core Viewpoint - The company has received approval from the National Medical Products Administration for the clinical trial of its product, Panlong Qiniangao, which is based on a traditional formula and aims to treat knee osteoarthritis [1] Group 1: Product Development - Panlong Qiniangao is an innovative traditional Chinese medicine derived from a proprietary formula by renowned bone injury expert Wang Jiacheng [1] - The product is designed to promote blood circulation, dispel wind and dampness, and reduce swelling and pain, specifically targeting knee osteoarthritis with symptoms of qi stagnation and blood stasis [1] Group 2: Clinical Trial and Regulatory Process - The development process for the drug, including research, clinical trial approval, and production, is lengthy and involves multiple stages [1] - There are uncertainties associated with the clinical trial process that may impact the timeline and outcomes [1]

来源：金融界 金融界8月12日消息，有投资者在互动平台向盘龙药业提问：国家医保局首次公开确认制定"新上市药品 首发价格机制"，"新上市药品首发价格形成机制"推出后将给予高质量创新药更高的定价自由度、效率 更高的挂网流程以及更长的首发价格稳定周期。新靶点/新机制的高质量创新药研发产商有望迎来更快 的现金流回报，创新药企业有望持续享受到监管政策在真支持创新、支持真创新、支持差异化创新等方 向的全链条支持。2025年以来医药政策环境向好，全面支持创新药发展。贵司有创新药提供什么。 公司回答表示：尊敬的投资者您好！公司将紧紧把握好国家医药政策的支持力度和发展机遇，加快推进 公司产品的创新研发工作。感谢您的关注！ ...

陇神戎发涨超10%，奇正藏药此前涨停，粤万年青、新天药业、盘龙药业、佛慈制药等跟涨。 (本文来自第一财经) ...

每经AI快讯，8月4日，中药股探底回升，陇神戎发一度涨超10%，奇正藏药此前涨停，粤万年青、新天 药业、盘龙药业、佛慈制药等跟涨。 （文章来源：每日经济新闻） ...

Group 1 - The total salary scale of CFOs in A-share listed companies reached 4.27 billion yuan in 2024, with an average annual salary of 814,800 yuan [1] - Among the CFOs in the pharmaceutical and biotechnology sector, 51% are aged between 40-50 years, while 33% are over 50 years old [1] - The youngest CFOs are from Boshin Biotech, Tianyi Medical, and *ST Sihuan, with ages of 29 and 30, and the lowest salary recorded is 231,000 yuan [1] Group 2 - The educational background of CFOs shows that 90% hold at least a bachelor's or master's degree, with 271 having a bachelor's degree and 178 holding a master's degree [3] - The distribution of CFO salaries in the A-share biopharmaceutical sector indicates that 32% earn below 500,000 yuan, while 42% earn between 500,000 and 1 million yuan [5] - Four CFOs earn over 3 million yuan annually, with the highest being Zhao Yun from Mindray Medical at 8.41 million yuan, and others holding additional positions within their companies [7]

Core Viewpoint - Panlong Pharmaceutical has been awarded the "Corporate Governance Pioneer Award" for its effective performance in corporate governance, highlighting its commitment to ESG (Environmental, Social, and Governance) practices [1] Group 1: Corporate Governance - The company implements a responsibility governance system that exceeds compliance requirements, enhancing internal risk management to create sustainable value for shareholders and society [3] - Panlong Pharmaceutical integrates ESG strategies into its top-level design, establishing a management system that ensures the long-term development strategy is forward-looking and effectively implemented [3] - The governance structure is built around a clear division of responsibilities among the shareholders' meeting, board of directors, and supervisory board, ensuring efficient and stable operations [3] Group 2: Risk Management - The company has developed a comprehensive risk management system that identifies potential risks in R&D, production, marketing, and compliance, with targeted prevention strategies in place [4] - A risk warning mechanism and regular risk assessments are employed to achieve dynamic monitoring and closed-loop management of risks [4] Group 3: Environmental Responsibility - In response to national "dual carbon" policies, the company is actively developing a climate change governance system and implementing energy-saving measures across its operations [5] - Panlong Pharmaceutical is focused on researching green pharmaceutical technologies to drive energy efficiency and reduce emissions [6] Group 4: Social Responsibility - The company prioritizes employee rights and fosters a diverse and safe working environment, achieving a 100% training coverage rate for employees [6] - Panlong Pharmaceutical engages in various charitable activities, donating 1.32 million yuan in 2024 to support education, disaster relief, and rural revitalization efforts [6] Group 5: Future Outlook - The company aims to deepen its ESG practices by leveraging party leadership, governance foundations, and innovation to contribute to the development of the health industry and the construction of a healthy China [6]

Investment Rating - The report maintains an "Outperform" rating for the biopharmaceutical industry [1] Core Insights - The market for traditional Chinese medicine (TCM) in musculoskeletal diseases is expected to grow significantly due to an aging population and increasing prevalence of related conditions [2][18] - The oral medication segment presents structural opportunities, while external patches are anticipated to continue expanding [3][32] Summary by Sections 1. Demand Growth in Musculoskeletal TCM Market - The aging population in China reached 202 million people aged 65 and above in 2023, leading to a rise in musculoskeletal disorders [2][18] - The penetration rate of musculoskeletal pain among the population aged 56 and above is 60.8%, while it is 42.2% among those aged 35 and below, indicating a younger demographic is increasingly affected [2][23] - The global pain management drug market is projected to reach $110.4 billion by 2030, with significant growth potential in China compared to markets in the US and Japan [2][28] 2. Structural Opportunities in Oral Medications - The oral TCM market is stable, with the top 10 products each generating sales below 1 billion yuan, indicating a lack of large-scale products [3][47] - Three innovative TCM products in the musculoskeletal field are expected to be approved and enter the national medical insurance directory from 2020 to 2024, which may lead to rapid market growth [3][53] - The basic drug policy aims to increase the usage of essential medicines, providing a competitive advantage for unique insurance products [3][69] 3. Expansion of External Patches - Compared to mature markets like Japan and South Korea, China's external patch market has significant room for growth, with external patches likely to gradually replace oral medications [3][30] - The concentration of external patches in public medical institutions and retail pharmacies is high, allowing leading companies to increase their market share [3][30] - Price increases are expected to continue driving growth in the external patch industry [3][32] 4. Investment Recommendations - Companies to watch include Fangsheng Pharmaceutical, Panlong Pharmaceutical, Lingrui Pharmaceutical, and Qizheng Tibetan Medicine, which have significant advantages in musculoskeletal TCM products [4]

Group 1: Market Position and Product Overview - The main product, Panlong Seven Tablets, holds a market share of 8.05% in the traditional Chinese medicine market for musculoskeletal diseases in urban and county public hospitals as of H1 2024 [3] - Panlong Seven Tablets is a unique patented product, classified as a Class A drug under medical insurance, and recognized as a brand product in Shaanxi Province [4] - The product has been included in eight national clinical guidelines and four expert consensus documents, highlighting its clinical efficacy and safety [4][8] Group 2: Future Development Strategies - The company aims to implement a "one body, two wings, three depths" development strategy, focusing on chronic orthopedic diseases and enhancing brand integration [3] - Plans to establish over 20 standardized planting bases to ensure the authenticity and traceability of raw materials [6] - The company targets to increase the number of registered traditional Chinese medicine formula granules to over 400 by leveraging technological innovation [6] Group 3: Clinical Research and Product Efficacy - Panlong Seven Tablets is widely used for conditions such as rheumatoid arthritis and knee osteoarthritis, demonstrating significant therapeutic effects [4] - The company emphasizes the importance of evidence-based medicine and has initiated multiple high-quality clinical research projects [4] - The product's clinical value is supported by its inclusion in national guidelines and textbooks, reinforcing its market position [4][8] Group 4: Risk Management and Competitive Advantage - The company maintains a strategic reserve of core medicinal materials to mitigate the impact of raw material price fluctuations [6][8] - The stable pricing system of Panlong Seven Tablets is attributed to its unique market position and comprehensive supply chain management [8] - Future strategies include enhancing product research and development, expanding into underdeveloped markets, and accelerating the launch of potential high-revenue products [8]

Group 1: Hydropower Station - The Shaanxi Zhen'an Pumped Storage Power Station is designed with an annual power generation capacity of 2.34 billion kWh and an annual water pumping capacity of 3.121 billion kWh, contributing significantly to renewable energy consumption and power supply in Shaanxi and the Northwest region [2] - The power station operates like a "large charging treasure," utilizing surplus green electricity from photovoltaic and wind power to pump water to the upper reservoir, generating electricity during peak demand by releasing water from the upper reservoir [2] - The construction of the power station emphasizes environmental improvement, with a focus on green and low-carbon principles throughout the planning, design, construction, and operation phases [3] Group 2: Environmental Impact - The power station's construction has implemented high standards for ecological protection, including the use of natural river channels for the lower reservoir and the establishment of an environmental monitoring system [3] - The project has contributed to biodiversity protection by transplanting 76 national second-class protected wild plants and breeding over 200 giant salamanders and 1,000 multi-scaled fish annually [3] - The power station is expected to save approximately 117,000 tons of standard coal annually, reducing carbon dioxide emissions by about 305,000 tons and sulfur dioxide emissions by approximately 2,800 tons, supporting carbon peak and carbon neutrality goals [3] Group 3: Traditional Chinese Medicine Industry - The Panlong Pharmaceutical Group is rooted in Zhashui County, leveraging local high-quality medicinal materials for the production of over 100 types of traditional Chinese medicine [4] - The company employs a digital tracking system for its medicinal materials, ensuring strict quality control from soil testing to harvesting and processing, achieving a zero-pollution standard [4] - Panlong Pharmaceutical has established a circular economy model by converting 527 tons of medicinal waste into organic fertilizer, promoting a zero-waste cycle from planting to production [4][5] Group 4: Commitment to Sustainability - Panlong Pharmaceutical is committed to green development, continuously optimizing its management system for medicinal material cultivation and enhancing environmental measures such as soil improvement and water-saving irrigation [5] - The company adheres to zero-pollution harvesting standards for local medicinal materials, aiming to advance the high-quality development of traditional Chinese medicine [5]