新天药业（002873）公告，公司近日收到全资子公司贵阳治和药业有限公司现金分红款共计1500万元。 根据治和药业公司章程，股东批准决定向公司分配现金红利1500万元，剩余未分配利润结转至以后年度 分配。公司已收到上述分红款，该所得分红款将增加公司2025年度母公司报表净利润，但不增加公司合 并报表净利润，因此该分红事项不会影响公司2025年度整体经营业绩。 ...

Group 1 - A recent report has surfaced alleging that a pharmaceutical company, Guizhou Xintian Pharmaceutical Co., Ltd., is involved in bribing medical personnel, with 125 individuals from 36 medical institutions implicated in the investigation [1][2] - The Sichuan Provincial Health Commission has confirmed that 59 individuals received a total of 116,600 yuan in violation of regulations, while 50 others received reasonable compensation for academic activities totaling 46,600 yuan [1][2] - The company was established in August 1995 and went public on May 19, 2017, with its stock trading under the name Xintian Pharmaceutical and the code 002873 [3] Group 2 - In the fiscal year 2023, the company reported a revenue of 858 million yuan, representing a 10% decrease year-on-year, and a net profit attributable to shareholders of 52.32 million yuan, down 35% from the previous year [3] - The company's selling expenses amounted to 372 million yuan, reflecting a 15% decrease compared to the previous year [3]

经逐人核实，59人参加病例收集、科普项目等活动违规收取费用11.66万元；50人正常参与学术活动授课获得合理劳务报酬4.66万元；9人参加相关活动未收取费用。 四川省卫生健康委调查组表示，举报信所涉部分医务人员有关行为违反四川省医疗机构工作人员廉洁从业九项准则实施细则相关规定，四川省卫生健康委已责成属 地深入调查、逐一定性，依法依规严肃处理。所涉医务人员违规收取的费用，已全部清缴。 举报信涉企业的其他问题，四川省卫生健康委已将举报线索移交相关部门处理。 目前，已对上述医疗机构开展重点整治，同时部署在全省卫生健康系统全面开展医疗机构廉洁风险排查整治暨加强行风教育专项行动，深入排查全省各级各类医疗 机构医务人员廉洁问题，发现一起，严处一起，绝不姑息，坚决维护人民群众健康权益。 此前，一份落款为四川省卫健委的通知在网络流传。通知内容显示，四川省卫健委近期收到举报信，其中反映了"部分医疗机构医生涉嫌收受商业贿赂"等线索。其 要求成都市、自贡市、泸州市、绵阳市、广元市、遂宁市、内江市、南充市、宜宾市、广安市、达州市、眉山市、资阳市卫生健康委，以及四川省中医药管理局、 成都医学院第一附属医院、西南医科大学附属医院等单位组 ...

Core Viewpoint - The company Guizhou Xintian Pharmaceutical (002873.SZ) is embroiled in a bribery scandal involving its Chengdu branch, which allegedly engaged in bribing over 100 doctors across 37 medical institutions in Sichuan province, raising investor concerns [1][2]. Group 1: Allegations of Bribery and Misconduct - The Chengdu branch of Xintian Pharmaceutical is accused of collecting false case studies, conducting fake educational projects, hosting illegal banquets and entertainment activities, and improperly conducting departmental meetings to facilitate "profit transfer" [3]. - Allegations include the distribution of benefits to doctors through a survey project via the Sunflower Alliance App, involving 55 doctors from 15 hospitals, with an estimated total of approximately 72,600 yuan [3]. - The company reportedly organized 19 events in the first four months of 2025, involving 41 hospitals, where doctors were entertained and encouraged to prescribe the company's products [3]. Group 2: Financial Performance - Xintian Pharmaceutical has experienced a decline in performance over the past two years, with revenue dropping from a peak of 1.088 billion yuan in 2022 to 954 million yuan in 2023 and further to 858 million yuan in 2024 [7]. - The net profit also decreased from 110 million yuan in 2022 to 80.87 million yuan in 2023 and 52.32 million yuan in 2024, indicating a continuous shrinkage in earnings [7]. - The company's core product structure is heavily reliant on gynecological products, which accounted for 71.54% of revenue, but these products have seen a revenue decline of 9.21% in 2024 [7]. Group 3: Sales and Marketing Expenses - Sales expenses for Xintian Pharmaceutical remained high, with figures of 532 million yuan in 2022, 438 million yuan in 2023, and 372 million yuan in 2024, reflecting a sales expense ratio of 48.93%, 45.86%, and 43.34% respectively [8]. - In 2024, the company reported significant increases in meeting expenses, which rose to over 11 million yuan, compared to just 2.77 million yuan in the previous year [8]. Group 4: Acquisition and Ownership Issues - The company's planned acquisition of Shanghai Huilun Pharmaceutical, which would have made it a wholly-owned subsidiary, was terminated in July 2022, raising concerns about potential conflicts of interest as the controlling shareholder is linked to Huilun [11]. - The failed acquisition was seen as a missed opportunity for growth, with Huilun valued at 2.574 billion yuan at the time [11]. Group 5: Shareholder Actions - The controlling shareholder, Xintian Zhiyuan, plans to reduce holdings by up to 5.7 million shares, representing 2.42% of the total share capital, citing personal financial needs [12].

Core Viewpoint - New Tian Pharmaceutical (002873) is embroiled in a bribery scandal, with allegations of bribing over 100 doctors across 37 medical institutions in Sichuan province, as reported in a notification from the Sichuan Provincial Health Commission [1][3][4]. Group 1: Allegations and Violations - The company is accused of multiple violations, including collecting false case data and conducting entertainment activities for doctors to promote its products [3][4]. - Allegations include the use of the Sunflower Alliance App to distribute survey projects to doctors, with an estimated bribe amount of approximately 72,600 yuan involving 55 doctors from 15 hospitals [3]. - The company reportedly organized 19 entertainment events for doctors in early 2025, involving 41 hospitals, to promote its products [3][4]. Group 2: Financial Performance - New Tian Pharmaceutical has experienced declining financial performance, with revenues of approximately 10.88 billion yuan, 9.54 billion yuan, and 8.58 billion yuan from 2022 to 2024, alongside net profits of 1.12 billion yuan, 810 million yuan, and 520 million yuan during the same period [9]. - The company’s sales expenses have been high, with sales expense rates exceeding 40% from 2022 to 2024, despite a downward trend in total sales expenses [6][9]. - In the first quarter of this year, the company reported a net profit decline of over 70%, with revenues of approximately 1.93 billion yuan, reflecting an 8.93% year-on-year increase [9]. Group 3: Industry Context - The pharmaceutical industry is facing challenges related to commercial bribery, often hidden within sales expenses, due to the high level of information asymmetry and reliance on doctors for product recommendations [7][8]. - Regulatory scrutiny is increasing, and if the allegations against New Tian Pharmaceutical are substantiated, it could lead to severe penalties and damage to the company's reputation [4][8].

Core Viewpoint - A recent whistleblower letter has reignited discussions on corruption in the medical industry, particularly involving Guizhou Xintian Pharmaceutical's Chengdu branch, which is accused of bribing over a hundred doctors across more than 30 medical institutions [1][3]. Group 1: Company Overview - Guizhou Xintian Pharmaceutical, established in August 1995 and listed on the Shenzhen Stock Exchange in May 2017, focuses on the research, production, and sales of traditional Chinese medicine, particularly for urological and gynecological diseases [1]. - In 2023, Xintian Pharmaceutical ranked second in hospital sales and eighth in pharmacy sales for gynecological traditional Chinese medicine, with a comprehensive ranking of second [1]. Group 2: Financial Performance - Despite a reform in its sales and production system initiated at the end of 2022, Xintian Pharmaceutical's sales expenses remain high, amounting to 372 million yuan in 2024, which is 43.34% of its revenue [2][4]. - The company's sales expenses decreased by over 15% year-on-year for two consecutive years, yet they still represented a significant portion of total revenue, with 2022 sales expenses at 532 million yuan (48.93% of revenue) and 2023 at 438 million yuan (45.86% of revenue) [4]. - Revenue for 2023 and 2024 was reported at 954 million yuan and 858 million yuan, respectively, reflecting year-on-year declines of 12.29% and 10.11% [6]. Group 3: Compliance and Regulatory Issues - The Sichuan Provincial Health Commission has mandated investigations into the allegations against Xintian Pharmaceutical, requiring reports on any violations of health laws by May 25, 2025 [3]. - The company is accused of using various covert methods for bribery, including fake case collections and excessive speaker fees for medical seminars [3][5]. - Xintian Pharmaceutical has stated that it is cooperating with investigations and claims that its operations are compliant [3]. Group 4: Industry Context - The pharmaceutical industry is under increasing scrutiny for high sales expenses, which are often linked to risks of commercial bribery and compliance issues [5]. - The industry is experiencing a push towards compliance, with regulatory bodies intensifying efforts to combat corruption, including a report indicating that over 52,000 cases were filed in the medical sector [7]. - Analysts suggest that the ongoing anti-corruption efforts will compel pharmaceutical companies to adopt more compliant marketing strategies and digital methods for market activities [8].

当前，新天药业（002873）(002873.SZ)陷入商业贿赂漩涡。 5月27日，网上流传一份四川省卫健委下发的《关于对举报材料进行核查的通知》。通知显示，四川省 卫健委近期收到举报信，反映贵阳新天药业股份有限公司成都分公司存在商业贿赂行为，涉及37家医疗 机构的超百名医生。 5月27日，有媒体致电四川省卫健委医疗应急处，对方工作人员表示此事正在调查中。 同日，长江商报记者向新天药业发去采访函，截至记者发稿尚未收到回复。 5月28日，新天药业证券部工作人员回应媒体采访时表示，已经关注到网传的相关内容。根据业务部门 的初步了解，公司运营合规，相关信息存在内容不实，公司正在积极配合相关部门的调查工作，公司舆 情预案已经启动。 长江商报记者发现，2023年和2024年，新天药业销售费用分别为4.38亿元和3.72亿元，同比分别下降 17.79%和15.06%，分别为同期营业收入约46%和43%。 2024年，新天药业销售费用中，职工薪酬及福利达1.95亿元，较上年同期5858.99万元大幅增长约 232%。然而，2024年年末，新天药业销售人员为1049人，同比下降约13%。 自称举报相关信息内容不实 5月27日 ...

Core Viewpoint - The company is facing allegations of bribery involving multiple doctors, which has led to a decline in its stock price and raised concerns about its reputation and financial performance [1]. Company Overview - Guizhou Xintian Pharmaceutical Co., Ltd. was established in August 1995 and focuses on the research, development, production, and sales of traditional Chinese medicine, primarily targeting gynecological and urological diseases, among other areas [1]. - The company was listed on the Shenzhen Stock Exchange's SME board in May 2017 [1]. Financial Performance - In 2024, the company's revenue is approximately 858 million yuan, representing a year-on-year decrease of 10.11%, while the net profit attributable to shareholders is about 52.32 million yuan, down 35.3% year-on-year [3]. - The company has experienced a decline in performance for two consecutive years starting from 2023 [3]. Sales and Marketing Strategy - The company's sales expenses as a percentage of revenue have been significant, recorded at 48.93%, 45.86%, and 43.34% for the years 2022 to 2024, respectively [4]. - There is a downward trend in sales expenses, attributed to reforms in the marketing system initiated in 2022, aimed at reducing costs and increasing efficiency [4]. - The marketing reforms include adjustments in organizational structure, team building, systematic training for product managers, and enhanced management of marketing strategies [4]. Product Portfolio - The company has several key products, including Kuntai Capsules, Ku Shen Gel, Ning Mi Tai Capsules, and Xia Ku Cao Oral Liquid, which are unique in the domestic market and included in the national medical insurance catalog, achieving a market scale exceeding 100 million yuan for individual products [2].

数据显示，2024年，公司营业收入为8.6亿元，同比下降10.11%；归母净利润为0.52亿元，同比下降 35.3%。 费用方面，2022年-2024年公司销售费用分别为5.32亿元、4.38亿元、3.72亿元，销售费用率分别为 48.93%、45.86%、43.34%。同期申万中药分类下的企业销售费用率中位数分别为33.02%、33.39%、 33.33%；算数平均值分别为31.89%、32.22%、31.41%，新天药业销售费用率高于行业整体水平约10个 百分点。 据2024年年报显示，报告期内公司销售费用中的市场开发与推广费显著减少，由2023年的3.04亿元降低 至1.26亿元，但职工薪酬及福利由去年同期的5858.99万元大幅增至2024年的1.95亿元，同比增超 230%。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 近日，一则关于新天药业的举报信在网络中广泛流传。 举报信揭露，新天药业通过"向日葵联盟"APP伪造问卷调查（每例300元）、朵儿互联网医院支付高额 科普文章费用（单篇500元），组织虚假学术会议、超标支付讲课费（单场最高5000元）等方式向医生 行贿，并 ...

Group 1 - The core issue involves allegations against Xintian Pharmaceutical (002873) related to commercial bribery involving doctors from over 30 medical institutions in Sichuan Province [1] - The allegations include practices such as providing benefits to prescribing doctors through false cases and academic events, as well as cash incentives for increased prescriptions [1] - The company’s main products, including Kuntai Capsule, are positioned in the women's health market and have achieved significant sales, with Kuntai Capsule ranking first in the market for menopausal Chinese medicine in 2023 [2] Group 2 - In 2024, Xintian Pharmaceutical reported revenue of 858 million yuan and a net profit of 52 million yuan, with sales expenses accounting for 43% of revenue and R&D expenses at 4.6% [2] - The company’s gynecological products contribute approximately 71% to its total revenue [2] - The actual controller of the company, Dong Dalun, has a long history in the pharmaceutical industry, having held various positions since 1984 [3] Group 3 - As of May 28, Xintian Pharmaceutical's stock closed at 8.85 yuan, reflecting a decline of 2.43% amid the bribery allegations [4]