华仁药业股份有限公司 关于召开 2025 年第一次临时股东会的通知 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。 证券代码：300110 证券简称：华仁药业 公告编号：2025-054 一、本次股东会召开的基本情况 1、股东会届次：2025 年第一次临时股东会 2、召集人：公司董事会 3、会议召开的合法、合规性：经公司第八届董事会第九次会议审议通过， 决定召开 2025 年第一次临时股东会，召集程序符合有关法律法规、规范性文件 和《公司章程》的规定。 4、会议召开日期和时间： （1）现场会议的召开时间为：2025 年 9 月 1 日（星期一）14:00 （2）网络投票时间：2025 年 9 月 1 日 其中，通过深圳证券交易所交易系统进行网络投票的具体时间为：2025 年 9 月 1 日上午 9:15-9:25，9:30-11:30，下午 13:00-15:00； 通过深圳证券交易所互联网投票系统投票的具体时间为：2025 年 9 月 1 日 上午 9:15 至下午 15:00 期间的任意时间。 5、会议的召开方式：本次股东会采取现场投票与网络投票相结合的方 ...

证券代码：300110 证券简称：华仁药业 公告编号：2025-051 华仁药业股份有限公司 表决结果：赞成 3 票，反对 0 票，弃权 0 票，获得通过。 第八届监事会第七次会议决议公告 本公司及监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。 一、监事会会议召开情况 华仁药业股份有限公司（以下简称"公司"）第八届监事会第七次会议于 2025 年 8 月 14 日以现场会议形式召开。会议通知已于 2025 年 8 月 1 日以电子邮件方 式发给各位监事，并于 2025 年 8 月 8 日以电子邮件方式发出补充通知，调整议 案二部分内容。会议由监事会主席强力先生召集并主持，应出席会议的监事 3 名， 实际出席会议的监事 3 名。会议召开符合法律法规、《公司法》及《公司章程》 的规定。 二、监事会会议审议情况 （二）审议通过《关于修订<公司章程>的议案》 经审议，监事会认为本次修订《公司章程》符合《公司法》《证券法》《上 市公司章程指引》《关于新<公司法>配套制度规则实施相关过渡期安排》《深圳 证券交易所创业板股票上市规则》《深圳证券交易所上市公司自律监管指引第 2 号— ...

证券代码：300110 证券简称：华仁药业 公告编号：2025-050 一、董事会会议召开情况 华仁药业股份有限公司（以下简称"公司"）第八届董事会第九次会议于 2025 年 8 月 14 日以现场和网络会议结合的形式召开。会议通知已于 2025 年 8 月 1 日 以电子邮件方式发给各位董事，并于 2025 年 8 月 7 日、8 月 8 日以电子邮件方式 发出补充通知，增加议案四，调整议案二、议案三及议案五部分内容。会议由董 事长张力先生召集并主持，应出席会议的董事 9 名，实际出席会议的董事 9 名， 全体监事及高级管理人员列席会议。会议召开符合法律法规、《公司法》及《公 司章程》的规定。 二、董事会会议审议情况 全体与会董事经认真审议和表决，形成以下决议： （一）审议通过《<2025 年半年度报告>及摘要》 经审议，全体董事认为公司编制《2025 年半年度报告》及其摘要的程序符合 有关法律法规和中国证监会的规定，报告内容真实、准确、完整地反映了公司 2025 年半年度的财务状况和经营情况，不存在任何虚假记载、误导性陈述或者重大遗 漏。 华仁药业股份有限公司 第八届董事会第九次会议决议公告 本公司及董事 ...

Section 1: Important Notices, Table of Contents, and Definitions [Important Notices](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) The company's board of directors, supervisory committee, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report and assume legal responsibility - The company's Board of Directors, Supervisory Committee, and senior management guarantee that the content of the semi-annual report is **true, accurate, and complete**, free from false records, misleading statements, or major omissions, and they bear individual and joint legal liability[4](index=4&type=chunk) - The person in charge of the company, Zhang Li, the person in charge of accounting, Han Liping, and the head of the accounting department, Ji Bo, declare that the financial report in this semi-annual report is **true, accurate, and complete**[4](index=4&type=chunk) - The company plans **not to distribute cash dividends, issue bonus shares, or convert capital reserves into share capital**[4](index=4&type=chunk) [Table of Contents](index=3&type=section&id=%E7%9B%AE%E5%BD%95) This report's table of contents clearly lists eight main sections covering company profile, financial indicators, management discussion, corporate governance, important matters, share changes, bonds, and financial reports - The report's table of contents includes eight main sections: Company Profile and Key Financial Indicators, Management Discussion and Analysis, Corporate Governance, Environment and Society, Important Matters, Changes in Share Capital and Shareholder Information, Bond-Related Information, and Financial Report[6](index=6&type=chunk) - The list of documents for inspection includes financial statements signed and sealed by the legal representative, the person in charge of accounting, and the head of the accounting department, as well as originals of all company documents and announcements publicly disclosed on designated websites of the CSRC during the reporting period[8](index=8&type=chunk)[9](index=9&type=chunk)[10](index=10&type=chunk) [Definitions](index=5&type=section&id=%E9%87%8A%E4%B9%89) This section provides definitions for common terms used in the report, including company names, regulatory bodies, laws, accounting firms, the reporting period, currency units, and key subsidiaries and products - The reporting period refers to **January 1, 2025, to June 30, 2025**[13](index=13&type=chunk) - Wholly-owned and holding subsidiaries are defined in detail, such as Qingdao Huaren Medical Products Co, Ltd, Anhui Hengxing Pharmaceutical Co, Ltd, and Hubei Huaren Tongji Pharmaceutical Co, Ltd[13](index=13&type-chunk) - Key pharmaceutical terms are explained, such as **GMP (Good Manufacturing Practice)**, basic infusion, therapeutic preparations, peritoneal dialysis solution, and non-PVC soft bags[13](index=13&type=chunk)[14](index=14&type=chunk) Section 2: Company Profile and Key Financial Indicators [I. Company Profile](index=7&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B) Huaren Pharmaceutical Co, Ltd, with stock code 300110, is listed on the Shenzhen Stock Exchange, and its legal representative is Zhang Li Company Basic Information | Indicator | Content | | :--- | :--- | | Stock Abbreviation | Huaren Pharmaceutical | | Stock Code | 300110 | | Stock Exchange | Shenzhen Stock Exchange | | Company's Chinese Name | 华仁药业股份有限公司 | | Legal Representative | Zhang Li | [II. Contact Persons and Methods](index=7&type=section&id=%E4%BA%8C%E3%80%81%E8%81%94%E7%B3%BB%E4%BA%BA%E5%92%8C%E8%81%94%E7%B3%BB%E6%96%B9%E5%BC%8F) The company's Board Secretary is Feng Xinguang and the Securities Affairs Representative is Yan Wentao, with the same contact address, phone, fax, and email Contact Information | Position | Name | Contact Address | Phone | Fax | Email | | :--- | :--- | :--- | :--- | :--- | :--- | | Board Secretary | Feng Xinguang | 187 Zhuzhou Road, Qingdao High-tech Industrial Park | 0532-58070788 | 0532-58070286 | huaren@qdhuaren.com | | Securities Affairs Representative | Yan Wentao | 187 Zhuzhou Road, Qingdao High-tech Industrial Park | 0532-58070788 | 0532-58070286 | huaren@qdhuaren.com | [III. Other Information](index=7&type=section&id=%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E6%83%85%E5%86%B5) During the reporting period, there were no changes to the company's contact information, information disclosure and filing locations, or registration details - The company's contact information, including registered address, office address, website, and email, remained unchanged during the reporting period[18](index=18&type=chunk) - The locations for information disclosure and document filing remained unchanged during the reporting period[19](index=19&type=chunk) - The company's registration information remained unchanged during the reporting period[20](index=20&type=chunk) [IV. Key Accounting Data and Financial Indicators](index=8&type=section&id=%E5%9B%9B%E3%80%81%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) In the first half of 2025, the company's operating revenue and net profit attributable to shareholders decreased by 19.13% and 49.01% year-on-year, respectively Key Accounting Data and Financial Indicators (Current Period vs Prior Year Period) | Indicator | Current Period (CNY) | Prior Year Period (CNY) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 623,896,434.45 | 771,461,220.59 | -19.13% | | Net Profit Attributable to Shareholders | 37,332,883.17 | 73,213,045.80 | -49.01% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | 27,689,155.59 | 67,810,367.92 | -59.17% | | Net Cash Flow from Operating Activities | 169,841,656.72 | 161,307,521.68 | 5.29% | | Basic Earnings Per Share (CNY/Share) | 0.0316 | 0.0619 | -48.95% | | Diluted Earnings Per Share (CNY/Share) | 0.0316 | 0.0619 | -48.95% | | Weighted Average Return on Equity | 2.83% | 2.69% | 0.14% | Key Accounting Data and Financial Indicators (End of Current Period vs End of Prior Year) | Indicator | End of Current Period (CNY) | End of Prior Year (CNY) | Change from Prior Year-End | | :--- | :--- | :--- | :--- | | Total Assets | 3,424,963,797.42 | 3,428,120,079.39 | -0.09% | | Net Assets Attributable to Shareholders | 1,338,119,172.18 | 1,300,786,289.01 | 2.87% | [V. Differences in Accounting Data under Domestic and Foreign Accounting Standards](index=8&type=section&id=%E4%BA%94%E3%80%81%E5%A2%83%E5%86%85%E5%A4%96%E4%BC%9A%E8%AE%A1%E5%87%86%E5%88%99%E4%B8%8B%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%B7%AE%E5%BC%82) There were no discrepancies in net profit or net assets between financial reports prepared under international or foreign accounting standards and those under Chinese accounting standards - The company had no discrepancies in net profit and net assets between financial reports disclosed under international accounting standards and Chinese accounting standards during the reporting period[22](index=22&type=chunk) - The company had no discrepancies in net profit and net assets between financial reports disclosed under foreign accounting standards and Chinese accounting standards during the reporting period[23](index=23&type=chunk) [VI. Non-recurring Profit and Loss Items and Amounts](index=8&type=section&id=%E5%85%AD%E3%80%81%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%8F%8A%E9%87%91%E9%A2%9D) Non-recurring profit and loss for the period totaled CNY 9.64 million, primarily from government grants and other non-operating income and expenses Non-recurring Profit and Loss Items and Amounts | Item | Amount (CNY) | | :--- | :--- | | Gains and Losses from Disposal of Non-current Assets | -44,149.19 | | Government Grants Included in Current Profit and Loss | 3,688,051.40 | | Other Non-operating Income and Expenses | 1,053,416.79 | | Other Profit and Loss Items Meeting the Definition of Non-recurring | 5,815,427.39 | | Less: Income Tax Impact | 794,141.64 | | Minority Interest Impact (After Tax) | 74,877.17 | | Total | 9,643,727.58 | - The company did not classify any non-recurring profit and loss items listed in the "Explanatory Announcement No 1 on Information Disclosure for Companies Offering Securities to the Public—Non-recurring Profit and Loss" as recurring items[26](index=26&type=chunk) Section 3: Management Discussion and Analysis [I. Principal Business Activities During the Reporting Period](index=10&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E4%BB%8E%E4%BA%8B%E7%9A%84%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1) Huaren Pharmaceutical is a state-controlled pharmaceutical group with business segments covering nephrology, respiratory, anesthesiology, and large-volume parenteral preparations, achieving synergistic development across multiple sectors - Huaren Pharmaceutical, founded in 1998, is a state-controlled pharmaceutical and healthcare industry group integrating R&D, production, and sales, with a primary focus on nephrology, respiratory, anesthesiology, and therapeutic large-volume parenteral product lines[28](index=28&type=chunk) - The company has expanded its business from basic infusions and nephrology to respiratory and anesthesiology, diversifying its drug dosage forms and achieving an integrated "raw materials + preparations + packaging" development model[28](index=28&type=chunk) - With six production bases, the company's products cover over 30 provinces and cities nationwide and it has been listed among China's top 100 chemical pharmaceutical enterprises for five consecutive years[28](index=28&type=chunk) [(I) Business Review for the Reporting Period](index=10&type=section&id=(%E4%B8%80)%20%E6%8A%A5%E5%91%8A%E6%9C%9F%E7%BB%8F%E8%90%A5%E5%9B%9E%E9%A1%BE) In H1 2025, revenue and net profit declined year-on-year due to intensified market competition and pricing policies, though key products like peritoneal dialysis solution showed steady growth - The company actively responded to healthcare reform policies such as medical insurance cost control, centralized procurement, and price linkage by promoting the "three integrations" construction[29](index=29&type=chunk) Operating Performance in H1 2025 | Indicator | Amount/Quantity | YoY Change | | :--- | :--- | :--- | | Operating Revenue | CNY 624 million | -19.13% | | Net Profit Attributable to Shareholders | CNY 37.33 million | -49.01% | | Drug Sales Volume | 212 million bottles (bags/units) | -42.57% | | Self-produced Drug Revenue | CNY 564 million | -18.90% | Key Product Sales Growth | Product | Sales Volume | YoY Growth | Sales Revenue | YoY Growth | | :--- | :--- | :--- | :--- | :--- | | Peritoneal Dialysis Solution | 16.87 million bags | 45.80% | CNY 218 million | 22.23% | | Hemodiafiltration Replacement (Basic) Fluid | 3.17 million bags | 54.28% | CNY 52 million | 23.15% | [1. Continuously Advancing Innovation and Transformation, Enriching the R&D Pipeline](index=10&type=section&id=1%E3%80%81%E6%8C%81%E7%BB%AD%E6%8E%A8%E8%BF%9B%E5%88%9B%E6%96%B0%E8%BD%AC%E5%9E%8B%EF%BC%8C%E7%A0%94%E5%8F%91%E7%AE%A1%E7%BA%BF%E4%B8%8D%E6%96%AD%E4%B8%B0%E5%AF%8C) The company focuses on nephrology, respiratory, and anesthesiology product lines, advancing R&D for high-value-added products and obtaining new approvals for drugs and medical devices - The company focuses on product lines such as nephrology, respiratory, anesthesiology, and therapeutic large-volume parenteral preparations, continuously promoting R&D innovation and strategic transformation to deepen the integrated development of "raw materials + preparations + packaging"[30](index=30&type=chunk) Newly Approved Drugs and Progress During the Reporting Period | No | Drug Name | Category | Indication/Function | Stage and Progress | | :--- | :--- | :--- | :--- | :--- | | 1 | Phenylephrine Hydrochloride Injection | Chemical Drug, Class 3 | Clinically significant hypotension resulting from vasodilation during anesthesia | Approved (deemed to have passed consistency evaluation) | | 2 | Pirfenidone | Chemical API | Idiopathic pulmonary fibrosis | Approved | | 3 | Phenylephrine Hydrochloride | Chemical API | Hypotension due to vasodilation under anesthesia | Approved | | 4 | Diphenhydramine Hydrochloride | Chemical API | Skin diseases, motion sickness, rhinitis, urticaria, etc | Approved | | 5 | Bumetanide | Chemical API | Severe heart failure, hypertensive emergencies, etc | Approved | | 6 | Metoclopramide Hydrochloride | Chemical API | Prevention of postoperative nausea and vomiting, etc | Approved in July 2025 | - As of the end of the reporting period, the company had **42 products included in the National Medical Insurance Catalog**, obtained 3 new Class II medical device registration certificates, and accumulated 551 authorized patents (including 4 new utility model patents this period)[31](index=31&type=chunk)[32](index=32&type=chunk) [2. Key Subsidiaries in Various Segments Continue to Drive Growth, Deepening the Company's Multi-point Industrial Chain Layout](index=12&type=section&id=2%E3%80%81%E5%90%84%E6%9D%BF%E5%9D%97%E9%87%8D%E8%A6%81%E5%AD%90%E5%85%AC%E5%8F%B8%E6%8C%81%E7%BB%AD%E5%8F%91%E5%8A%9B%EF%BC%8C%E5%8A%A9%E5%8A%9B%E5%85%AC%E5%8F%B8%E4%BA%A7%E4%B8%9A%E9%93%BE%E5%A4%9A%E7%82%B9%E5%B8%83%E5%B1%80%E6%8C%81%E7%BB%AD%E6%B7%B1%E5%8C%96) Subsidiaries drove the company's industrial chain layout by advancing "raw material + preparation + packaging" integration, strengthening R&D, and expanding product lines - Huaren Rizhao company promoted the "raw material + preparation + packaging" integration, completed pre-pilot trials for 6 API varieties, and obtained approval to resume production of Tramadol Hydrochloride and Sodium Chloride Injection, a Class II psychotropic drug[32](index=32&type=chunk) - Hengxing Pharmaceutical company received new approvals for 4 API products, including Pirfenidone and Phenylephrine Hydrochloride, as well as Phenylephrine Hydrochloride Injection[32](index=32&type=chunk) - Huaren Medical company obtained 3 new Class II medical device registration certificates for products including disposable syringes for dispensing, medical wound dressings, and disposable slide sheets, while its "Penile Hardness Measuring Instrument" entered the special approval process for innovative medical devices[32](index=32&type=chunk) [3. Optimizing and Adjusting the Sales System, Solidly Promoting Marketing Transformation](index=12&type=section&id=3%E3%80%81%E4%BC%98%E5%8C%96%E8%B0%83%E6%95%B4%E9%94%80%E5%94%AE%E4%BD%93%E7%B3%BB%EF%BC%8C%E6%89%8E%E5%AE%9E%E6%8E%A8%E8%BF%9B%E8%90%A5%E9%94%80%E8%BD%AC%E5%9E%8B) The company optimized its sales system by establishing a new marketing center and actively participating in national and local centralized drug procurement programs - The company optimized its sales system by establishing a new marketing center responsible for all product marketing, with vertical management implemented at the provincial level[33](index=33&type=chunk) - The company actively embraced centralized procurement, with relevant products winning bids in the 10th round of national drug procurement, the 5th round in Zhejiang Province, and the 5th round in Jiangsu Province, among others[33](index=33&type=chunk) Drug Bids Won in Centralized Procurement During the Reporting Period | Bidding Company | Procurement Name | Bidding Region | Product Name | Specification | Bid Price | | :--- | :--- | :--- | :--- | :--- | :--- | | Huaren Pharmaceutical Co, Ltd | Zhejiang Province Public Medical Institutions 5th Batch Centralized Procurement | Zhejiang | Hemodiafiltration Replacement Basic Fluid | 4000ml | CNY 14.83/bag | | Huaren Pharmaceutical Co, Ltd | Zhejiang Province Public Medical Institutions 5th Batch Centralized Procurement | Zhejiang | Peritoneal Dialysis Solution (Lactate-G1.5%, G2.5%, G4.25%) | 2000ml | CNY 14.83/bag | | Anhui Hengxing Pharmaceutical Co, Ltd | Hebei-led Beijing-Tianjin-Hebei-Jiangxi Chemical Drug Centralized Procurement | Beijing, Tianjin, Hebei, Jiangxi | Pentazocine Injection | 1ml:30mg | CNY 62/vial | [4. Strengthening Safety Production and Comprehensive Quality Management, Achieving Cost Reduction and Efficiency Improvement through Closed-loop Management](index=13&type=section&id=4%E3%80%81%E5%8A%A0%E5%BC%BA%E5%AE%89%E5%85%A8%E7%94%9F%E4%BA%A7%E5%92%8C%E5%85%A8%E9%9D%A2%E8%B4%A8%E9%87%8F%E7%AE%A1%E7%90%86%EF%BC%8C%E9%97%AD%E7%8E%AF%E7%AE%A1%E7%90%86%E9%99%8D%E6%9C%AC%E5%A2%9E%E6%95%88) The company enhanced safety and quality management through closed-loop controls and equipment upgrades, improving efficiency and reinforcing its integrated development strategy - The company adheres to the principle of "safety first, prevention foremost, comprehensive governance" and fully implements its primary responsibility for production safety to ensure a stable safety situation[36](index=36&type=chunk) - The company continuously promotes comprehensive quality management and cost control, successfully passing various unannounced inspections and GMP compliance checks by drug regulatory authorities[36](index=36&type=chunk) - Various factories have improved capacity utilization, reduced costs, and enhanced quality and efficiency through equipment upgrades, optimized production models, contract manufacturing, and internal supply substitution[36](index=36&type=chunk)[37](index=37&type=chunk) [5. Consolidating Internal Management to Promote Healthy and Compliant Development](index=14&type=section&id=5%E3%80%81%E5%A4%AF%E5%AE%9E%E5%86%85%E9%83%A8%E7%AE%A1%E7%90%86%EF%BC%8C%E6%8E%A8%E8%BF%9B%E5%81%A5%E5%BA%B7%E5%90%88%E8%A7%84%E5%8F%91%E5%B1%95) The company strengthened internal management by implementing a compliance enhancement plan, improving corporate governance, and optimizing its organizational structure and talent development - The company formulated a "Compliance Management Enhancement Year Implementation Plan" to comprehensively review compliance work and improve internal control systems and business processes[37](index=37&type=chunk) - The company adjusted its new Party Committee, strengthened party organization building, continuously improved the quality of information disclosure, and enhanced investor relations management[37](index=37&type=chunk) - The company optimized its organizational structure, adjusted parts of its management team to be younger and more professional, and improved its performance and compensation management systems[37](index=37&type=chunk) [(II) Industry Development](index=14&type=section&id=(%E4%BA%8C)%20%E6%89%80%E5%B1%9E%E8%A1%8C%E4%B8%9A%E5%8F%91%E5%B1%95%E6%83%85%E5%86%B5) The pharmaceutical industry faces policy pressures but holds long-term promise due to an aging population, rising health awareness, and supportive policies for innovation - The pharmaceutical industry faces policy pressures such as medical insurance cost control and centralized procurement price reductions, but the long-term growth logic remains unchanged, benefiting from population aging, increased health awareness, and innovation-supportive policies[38](index=38&type=chunk) Key Financial Data of the Pharmaceutical Manufacturing Industry in 2024 | Indicator | Amount | | :--- | :--- | | Operating Revenue | CNY 2.53 trillion | | Total Profit | CNY 342.07 billion | | YoY Change in Total Profit | -1.1% | - The "Three-Medical Linkage" reform continues to advance, with 91 new drugs added to the medical insurance catalog, optimization of drug centralized procurement policies, and a requirement for scanning codes at the point of sale for medical insurance fund settlement starting July 1, 2025[38](index=38&type=chunk) - The National Medical Products Administration released a draft notice to optimize the review and approval of clinical trials for innovative drugs, aiming to complete the process within 30 working days for eligible applications[38](index=38&type=chunk) - The chemical pharmaceutical industry receives strong policy support and optimized regulatory measures to enhance drug supply capacity and promote healthy development[39](index=39&type=chunk) - Driven by rising healthcare demands, the medical device market reached **CNY 1.03 trillion in 2023**, with a five-year compound annual growth rate of approximately 14.67%[40](index=40&type=chunk) - The pharmaceutical packaging market size reached **CNY 163.4 billion in 2024**, with the associated review system prompting pharmaceutical companies to partner with high-quality packaging suppliers[41](index=41&type=chunk) 1. Industry Overview The pharmaceutical industry, a strategic sector, is under pressure from policies like medical insurance cost control and centralized procurement, but its long-term growth logic remains intact - The pharmaceutical industry is a strategic sector vital to the national economy and security, characterized by high investment, high risk, high returns, and long cycles[38](index=38&type=chunk) - In 2024, industrial enterprises above designated size in the pharmaceutical manufacturing industry achieved operating revenue of **CNY 2.53 trillion**, flat with 2023, and a total profit of **CNY 342.07 billion**, a year-on-year decrease of 1.1%[38](index=38&type=chunk) - The "Three-Medical Linkage" reform continues, adding 91 drugs to the medical insurance catalog, optimizing centralized procurement policies, and requiring QR code scanning for medical insurance settlement from July 1, 2025[38](index=38&type=chunk) - The National Medical Products Administration issued a draft notice to complete the review and approval of innovative drug clinical trial applications within 30 working days for qualified submissions[38](index=38&type=chunk) - China has significantly supported its chemical pharmaceutical industry through policies and optimized regulations to enhance drug supply, accelerate capacity consolidation, and promote healthy development[39](index=39&type=chunk) - In 2023, China's medical device market reached **CNY 1.03 trillion**, with a five-year compound growth rate of about 14.67%, driven by an aging population and increased awareness of medical services[40](index=40&type=chunk) - In 2024, China's pharmaceutical packaging market size reached **CNY 163.4 billion**, with the associated review system encouraging pharmaceutical companies to collaborate with high-quality packaging material enterprises[41](index=41&type=chunk) 2. Industry Characteristics The pharmaceutical industry is characterized by high investment, significant technical barriers, long R&D cycles, stringent quality requirements, and substantial policy influence - The pharmaceutical industry is characterized by **high investment, high technical barriers, long R&D cycles, stringent quality requirements, and significant policy influence**[41](index=41&type=chunk) - Drug production must strictly adhere to GMP standards, with high requirements for environmental control, equipment validation, process flow, on-site management, and quality control[41](index=41&type=chunk) - China's pharmaceutical industry is subject to strict regulation, and policies related to healthcare reform and medical security have a significant impact on the sector[41](index=41&type=chunk) [(III) Main Business, Products, and Their Uses](index=15&type=section&id=(%E4%B8%89)%20%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1%E3%80%81%E4%BA%A7%E5%93%81%E5%8F%8A%E7%94%A8%E9%80%94) The company's main business spans pharmaceuticals, medical devices, medical packaging, health products, and commercial distribution, with its peritoneal dialysis solution leading the domestic market - The company's nephrology products, including peritoneal dialysis solution and hemodiafiltration replacement fluid, cater to the needs of various end-stage renal disease patients[42](index=42&type=chunk) - The company's peritoneal dialysis solution was the **first non-PVC packaged product launched in China**, holding the **leading market share among domestic brands** with 23 approved product specifications[42](index=42&type=chunk)[43](index=43&type=chunk) - Wholly-owned subsidiary Hengxing Pharmaceutical focuses on respiratory and anesthesiology product lines, with its Pentazocine Injection being the first in China to pass the consistency evaluation and win an exclusive bid in centralized procurement[44](index=44&type=chunk) - The company's large-volume parenteral products offer a comprehensive range of packaging formats, with multiple products winning bids in national and local centralized procurement programs[45](index=45&type=chunk)[46](index=46&type=chunk)[47](index=47&type=chunk)[48](index=48&type=chunk) - In medical devices, Huaren Medical independently develops, produces, and sells surgical consumables and peritoneal dialysis supporting products, holding 39 Class II and 37 Class I medical device registrations[48](index=48&type=chunk) - For medical packaging, the Qingdao and Rizhao factories produce non-PVC co-extruded films and butyl rubber products, creating a professional green packaging innovation center[49](index=49&type=chunk) - The health products segment is actively developing product lines including beverages, health drinks, and cosmetics, such as Jiuyuanjiu electrolyte supplement and the "Mingjitang" series of cosmetics[49](index=49&type=chunk) - The pharmaceutical commercial distribution business covers over 3,000 types of drugs, medical devices, and raw materials, primarily serving top-tier hospitals and pharmaceutical enterprises nationwide[50](index=50&type=chunk) 1. Pharmaceutical Segment The company's pharmaceutical segment covers nephrology, respiratory, anesthesiology, and large-volume parenteral preparations, with its peritoneal dialysis solution holding the top market share among domestic brands - The company's nephrology products mainly include peritoneal dialysis solution and hemodiafiltration replacement (basic) fluid, meeting the needs of various end-stage renal disease patients[42](index=42&type=chunk) - The company's peritoneal dialysis solution is the **first non-PVC packaged product launched in China**, with 23 approved drug specifications, 8 of which have passed or are deemed to have passed the consistency evaluation, ranking **first in market share among domestic brands**[42](index=42&type=chunk)[43](index=43&type=chunk) - Wholly-owned subsidiary Hengxing Pharmaceutical focuses on respiratory and anesthesiology product lines, holding 27 preparation approval numbers for 16 varieties and 17 API registrations, with its Pentazocine Injection being the first in China to pass the consistency evaluation and win an exclusive bid in centralized procurement[44](index=44&type=chunk) - The company's large-volume parenteral products have formed a comprehensive product structure covering high, medium, and low-end markets, with various packaging formats, and multiple products have won bids in national and local centralized procurement[45](index=45&type=chunk)[46](index=46&type=chunk)[47](index=47&type=chunk)[48](index=48&type=chunk) 2. Medical Devices and Medical Packaging The company independently develops, produces, and sells medical devices through its subsidiary Huaren Medical and manufactures its own medical packaging materials to ensure supply chain control - Huaren Medical independently develops, produces, and sells medical device products, including high-value disposable medical consumables like trocars and incision protectors, as well as products supporting peritoneal dialysis solution like iodophor caps[48](index=48&type=chunk) - The company owns high-value medical device product lines such as the "Zhuoyiwei" surgical access series, the "Shengluan" nursing series, and the "Ren" peritoneal dialysis series, holding a total of 39 Class II and 37 Class I medical device registrations[48](index=48&type=chunk) - The Qingdao factory independently produces non-PVC three-layer co-extruded packaging films, butyl rubber products (stoppers), and injection-molded packaging materials, while the Rizhao factory promotes an integrated "raw material + preparation + packaging" model to build a comprehensive green packaging innovation center[49](index=49&type=chunk) 3. Health Products Segment The company is actively expanding its health product line, which includes beverages, health drinks, and cosmetics, continuously enriching its product portfolio - The company is actively developing its health product lines, including beverages, health drinks, and cosmetics[49](index=49&type=chunk) - Beverage products include Jiuyuanjiu electrolyte supplement, glucose hydration solution, solid drinks, and purified water[49](index=49&type=chunk) - In health drinks, subsidiary Hubei Huaren has developed the "Huaren Tongji Bird's Nest Collagen Tripeptide Drink"[49](index=49&type=chunk) - In cosmetics, subsidiary Hubei Huaren has collaborated with Tongji Hospital to develop the "Mingjitang" series of cosmetics, focusing on medical-grade scientific skincare[49](index=49&type=chunk) 4. Pharmaceutical Commercial Distribution Segment The company's pharmaceutical commercial distribution business covers over 3,000 products, primarily conducting wholesale business with top-tier hospitals and pharmaceutical enterprises nationwide - The pharmaceutical commercial distribution business covers drugs, medical devices, and pharmaceutical raw materials, currently handling over 3,000 types of drugs and raw materials and over 1,000 types of medical devices[50](index=50&type=chunk) - The business primarily engages in wholesale operations of drugs, medical devices, and pharmaceutical raw materials with Class A tertiary and secondary hospitals and pharmaceutical enterprises across the country[50](index=50&type=chunk) [Business Model](index=17&type=section&id=%E7%BB%8F%E8%90%A5%E6%A8%A1%E5%BC%8F) The company employs a centralized procurement model, a production-to-order manufacturing model compliant with GMP standards, and a sales model combining direct supply and distribution - **Procurement Model**: Raw materials are managed through centralized procurement, with the headquarters unifying purchasing, consolidating demand, identifying strategic suppliers, and negotiating prices centrally[50](index=50&type=chunk) - **Production Model**: A production-to-order model is adopted, with each production base strictly adhering to GMP requirements to conduct quality testing and monitoring throughout the entire drug manufacturing process[51](index=51&type=chunk) - **Sales Model**: This includes both direct supply to hospitals and a distribution agent model, with the company directly participating in and winning bids for national, provincial, and municipal centralized drug procurement[51](index=51&type=chunk) [(IV) Main Factors for Performance Changes](index=17&type=section&id=(%E5%9B%9B)%20%E4%B8%BB%E8%A6%81%E4%B8%9A%E7%BB%A9%E5%8F%98%E5%8A%A8%E5%9B%A0%E7%B4%A0) The decline in operating revenue and gross profit was primarily due to intensified market competition for infusion products and the impact of drug pricing policies - During the reporting period, the company's operating revenue and gross profit decreased compared to the same period last year, mainly due to intensified market competition for infusion products and the impact of drug pricing policies[52](index=52&type=chunk) - The sales volume and prices of some of the company's products experienced varying degrees of decline[52](index=52&type=chunk) [II. Core Competitiveness Analysis](index=17&type=section&id=%E4%BA%8C%E3%80%81%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) The company's core competitiveness lies in its product quality, brand recognition, diverse product portfolio, and extensive sales network - **Product and Quality Advantage**: The company adheres to a "Quality is Life" philosophy, with its large-volume infusion products exceeding Chinese Pharmacopoeia standards for bacterial endotoxins and insoluble particles, and its non-PVC peritoneal dialysis solution offering superior ultrafiltration[53](index=53&type=chunk)[54](index=54&type=chunk) - **Brand Advantage**: With over two decades in the pharmaceutical field, the company has earned numerous honors, including "National AAA Credit Enterprise," and is ranked **71st among China's top 100 chemical pharmaceutical enterprises** by MENET[54](index=54&type=chunk) - **Product, Specification, and Dosage Form Advantage**: The company boasts a product system of **110 varieties with 224 specifications** and a medical device portfolio of 39 Class II and 37 Class I products, achieving an integrated "raw material + preparation + packaging" development model[55](index=55&type=chunk)[56](index=56&type=chunk)[57](index=57&type=chunk) - **Sales Team and Marketing Channel Advantage**: The company has a stable, self-operated sales team and network covering over 30 provinces, with its non-PVC soft bag infusions holding a leading market share and its peritoneal dialysis solution ranking **first among domestic brands**[57](index=57&type=chunk) [III. Main Business Analysis](index=19&type=section&id=%E4%B8%89%E3%80%81%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) Operating revenue decreased by 19.13% year-on-year due to market competition and pricing policies, while peritoneal dialysis solution revenue grew by 22.23% - **Operating revenue decreased by 19.13% year-on-year**, primarily due to intensified market competition for infusion products and the impact of drug pricing policies, leading to declines in sales volume and prices for some products[60](index=60&type=chunk) YoY Changes in Key Financial Data | Indicator | Current Period (CNY) | Prior Year Period (CNY) | YoY Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 623,896,434.45 | 771,461,220.59 | -19.13% | Intensified market competition for infusion products and drug pricing policies | | Operating Costs | 388,481,128.59 | 480,197,503.72 | -19.10% | | | Selling Expenses | 83,111,639.18 | 79,049,769.86 | 5.14% | | | Administrative Expenses | 44,679,018.12 | 47,461,195.38 | -5.86% | | | Finance Costs | 23,470,621.42 | 30,556,827.25 | -23.19% | Controlled financing scale to save capital costs | | Income Tax Expense | 3,682,578.47 | 10,417,750.59 | -64.65% | Decline in profit | | R&D Investment | 30,230,764.04 | 37,460,621.25 | -19.30% | | | Net Cash Flow from Operating Activities | 169,841,656.72 | 161,307,521.68 | 5.29% | | | Net Cash Flow from Investing Activities | -34,359,157.92 | -19,691,576.09 | -74.49% | Increased investment in workshop expansion projects | | Net Cash Flow from Financing Activities | -101,631,468.56 | -261,771,062.01 | 61.18% | YoY decrease in repayment of bank loans | | Net Increase in Cash and Cash Equivalents | 33,856,115.04 | -120,158,611.49 | 128.18% | YoY decrease in repayment of bank loans | Products or Services Accounting for Over 10% of Revenue | Product Segment | Operating Revenue (CNY) | Operating Costs (CNY) | Gross Margin | YoY Change in Revenue | YoY Change in Costs | YoY Change in Gross Margin | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Industrial | 597,655,159.82 | 365,970,692.88 | 38.77% | -19.53% | -20.40% | 0.67% | | Commercial | 26,241,274.63 | 22,510,435.71 | 14.22% | -8.65% | 10.07% | -14.58% | | Basic Infusion | 253,474,124.76 | 154,499,285.62 | 39.05% | -38.86% | -38.75% | -0.11% | | Therapeutic Preparations | 93,115,418.37 | 48,043,142.35 | 48.40% | -9.71% | -1.62% | -4.25% | | Peritoneal Dialysis Solution | 217,731,967.46 | 134,880,351.57 | 38.05% | 22.23% | 10.57% | 6.53% | | Medical Devices | 50,773,812.54 | 45,125,721.09 | 11.12% | -19.34% | -8.39% | -10.63% | [IV. Non-Main Business Analysis](index=20&type=section&id=%E5%9B%9B%E3%80%81%E9%9D%9E%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) The company has no non-main business analysis for the reporting period, indicating its focus on core operations - The company has no non-main business analysis for the reporting period[63](index=63&type=chunk) [V. Analysis of Assets and Liabilities](index=20&type=section&id=%E4%BA%94%E3%80%81%E8%B5%84%E4%BA%A7%E5%8F%8A%E8%B4%9F%E5%80%BA%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) Total assets and liabilities remained stable, with an increase in cash and construction in progress, while a shift from long-term to short-term borrowings altered the debt structure Significant Changes in Asset Composition | Item | End of Current Period (CNY) | % of Total Assets | End of Prior Year (CNY) | % of Total Assets | Change in % | Reason for Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 211,064,591.05 | 6.16% | 163,813,254.90 | 4.78% | 1.38% | | | Construction in Progress | 103,695,060.28 | 3.03% | 61,897,249.00 | 1.81% | 1.22% | | | Short-term Borrowings | 503,017,390.41 | 14.69% | 424,409,222.57 | 12.38% | 2.31% | Primarily due to converting some long-term borrowings to short-term | | Long-term Borrowings | 385,945,250.00 | 11.27% | 464,080,000.00 | 13.54% | -2.27% | Primarily due to converting some long-term borrowings to short-term | | Non-current Liabilities Due within One Year | 613,252,562.40 | 17.91% | 692,952,562.40 | 20.21% | -2.30% | Primarily due to a decrease in the portion of long-term borrowings due within one year | - The company had no major overseas assets during the reporting period[65](index=65&type=chunk) Assets and Liabilities Measured at Fair Value | Item | Opening Balance (CNY) | Purchases this Period (CNY) | Sales this Period (CNY) | Closing Balance (CNY) | | :--- | :--- | :--- | :--- | :--- | | Other Equity Instrument Investments | 15,984,624.00 | | | 15,984,624.00 | | Accounts Receivable Financing | 98,485,665.29 | 299,166,032.27 | 320,531,463.65 | 77,120,233.91 | | Total | 114,470,289.29 | 299,166,032.27 | 320,531,463.65 | 93,104,857.91 | - Details on restricted assets as of the end of the reporting period can be found in "Section 8, Financial Report, VII, Notes to Consolidated Financial Statement Items, 31, Assets with Restricted Ownership or Use Rights"[67](index=67&type=chunk) [VI. Investment Analysis](index=21&type=section&id=%E5%85%AD%E3%80%81%E6%8A%95%E8%B5%84%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) The company had no significant equity or non-equity investments, changes in financial assets measured at fair value, or use of raised funds during the reporting period - The company had no use of raised funds during the reporting period[68](index=68&type=chunk) - The company had no entrusted wealth management, derivative investments, or entrusted loans during the reporting period[69](index=69&type=chunk)[70](index=70&type=chunk)[71](index=71&type=chunk) [VII. Sale of Major Assets and Equity](index=22&type=section&id=%E4%B8%83%E3%80%81%E9%87%8D%E5%A4%A7%E8%B5%84%E4%BA%A7%E5%92%8C%E8%82%A1%E6%9D%83%E5%87%BA%E5%94%AE) The company did not sell any major assets or equity during the reporting period - The company did not sell any major assets during the reporting period[72](index=72&type=chunk) - The company did not sell any major equity during the reporting period[73](index=73&type=chunk) [VIII. Analysis of Major Holding and Participating Companies](index=22&type=section&id=%E5%85%AB%E3%80%81%E4%B8%BB%E8%A6%81%E6%8E%A7%E8%82%A1%E5%8F%82%E8%82%A1%E5%85%AC%E5%8F%B8%E5%88%86%E6%9E%90) The company's main subsidiaries, including Anhui Hengxing Pharmaceutical and Guangxi Yuyuan Pharmaceutical, were all profitable, while two other subsidiaries were disposed of or deregistered Financial Data of Major Subsidiaries (H1 2025) | Company Name | Type | Main Business | Registered Capital (CNY) | Total Assets (CNY) | Net Assets (CNY) | Operating Revenue (CNY) | Operating Profit (CNY) | Net Profit (CNY) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Anhui Hengxing Pharmaceutical Co, Ltd | Subsidiary | Production and sale of tablets, capsules, granules, small-volume injections, APIs, etc | 31,500,000.00 | 190,761,102.22 | 129,296,286.10 | 29,678,388.90 | 6,538,358.46 | 6,053,002.79 | | Guangxi Yuyuan Pharmaceutical Co, Ltd | Subsidiary | Production and sale of large-volume injections; multi-layer co-extruded infusion bags, etc | 49,400,000.00 | 1,638,613,189.39 | 238,866,794.65 | 96,450,263.05 | 8,459,165.20 | 7,145,301.94 | | Huaren Pharmaceutical (Rizhao) Co, Ltd | Subsidiary | Drug production; wholesale and retail of drugs; production of Class II medical devices, etc | 36,000,000.00 | 1,457,221,771.25 | 233,496,217.01 | 190,218,798.53 | 23,795,093.06 | 21,151,149.07 | | Qingdao Huaren Medical Products Co, Ltd | Subsidiary | Operation of Class III medical devices; production of Class II and III medical devices, etc | 60,000,000.00 | 952,063,598.05 | 309,305,007.54 | 100,544,414.45 | 10,564,974.60 | 9,189,107.97 | | Qingdao Huarentang Health Technology Co, Ltd | Subsidiary | R&D, production, and sale of pharmaceutical packaging materials, plastic products, medical devices, etc | 2,000,000.00 | 356,452,373.62 | 100,375,912.52 | 38,075,118.66 | 6,229,535.37 | 5,521,556.64 | | Hubei Huaren Tongji Pharmaceutical Co, Ltd | Subsidiary | Drug production; wholesale and retail of drugs; operation of Class III medical devices, etc | 160,000,000.00 | 206,532,805.58 | 185,153,648.44 | 38,558,889.26 | 4,925,733.64 | 4,242,331.96 | | Shenyang Huaren Pharmaceutical Co, Ltd | Subsidiary | Wholesale of drugs, operation of Class III medical devices, food business, etc | 10,000,000.00 | 46,011,917.48 | 41,869,382.08 | 17,345,912.86 | 1,838,359.94 | 3,747,573.36 | - The company sold its wholly-owned subsidiary, Xi'an Huaren Commercial Factoring Co, Ltd, which was no longer consolidated after May 21, 2025, with minimal impact on operations and performance[79](index=79&type=chunk) - The company deregistered its wholly-owned subsidiary, Qingdao Huaren Nephropathy Hospital Management Co, Ltd, which was no longer consolidated after January 13, 2025, with minimal impact on operations and performance[80](index=80&type=chunk) [IX. Structured Entities Controlled by the Company](index=27&type=section&id=%E4%B9%9D%E3%80%81%E5%85%AC%E5%8F%B8%E6%8E%A7%E5%88%B6%E7%9A%84%E7%BB%93%E6%9E%84%E5%8C%96%E4%B8%BB%E4%BD%93%E6%83%85%E5%86%B5) The company did not control any structured entities during the reporting period - The company did not control any structured entities during the reporting period[81](index=81&type=chunk) [X. Risks and Countermeasures](index=27&type=section&id=%E5%8D%81%E3%80%81%E5%85%AC%E5%8F%B8%E9%9D%A2%E4%B8%B4%E7%9A%84%E9%A3%8E%E9%99%A9%E5%92%8C%E5%BA%94%E5%AF%B9%E6%8E%AA%E6%96%BD) The company faces risks from industry policies, market competition, rising costs, and accounts receivable collection, and has implemented corresponding countermeasures - **Industry Policy Risk**: New policies such as medical insurance cost control and centralized procurement price reductions are intensifying market competition and creating downward pressure on drug prices; the company will strengthen policy research and actively participate in centralized procurement to maintain market share[81](index=81&type=chunk) - **Market Competition Risk**: The expansion of national and local centralized drug procurement is intensifying industry competition; the company will adjust its marketing strategies and strengthen its professional market access team[82](index=82&type=chunk) - **Cost Increase Risk**: Higher drug production standards and rising raw material prices are increasing cost control challenges; the company will mitigate this through supplier development, bulk contracts, and technological innovation[82](index=82&type=chunk) - **Accounts Receivable Collection Risk**: The accounts receivable from Sinopharm Medicinal Material Co, Ltd have been fully provisioned for credit impairment, and the debt resolution plan's execution remains uncertain; the company will actively monitor progress and optimize customer management[82](index=82&type=chunk) [XI. Record of Investor Relations Activities](index=28&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E6%8E%A5%E5%BE%85%E8%B0%83%E7%A0%94%E3%80%81%E6%B2%9F%E9%80%9A%E3%80%81%E9%87%87%E8%AE%BF%E7%AD%89%E6%B4%BB%E5%8A%A8%E7%99%BB%E8%AE%B0%E8%A1%A8) The company engaged with investors through online performance briefings and a collective reception day, discussing its operational status - On April 28, 2025, the company participated in the Huaren Pharmaceutical 2024 Annual Performance Briefing online via Cninfo and V-Next to communicate with investors about its operations[83](index=83&type=chunk) - On May 12, 2025, the company participated in the Qingdao Listed Companies Online Collective Investor Reception Day via Cninfo and "p5w.net" to communicate with investors about its operations[83](index=83&type=chunk) [XII. Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan](index=28&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E5%B8%82%E5%80%BC%E7%AE%A1%E7%90%86%E5%88%B6%E5%BA%A6%E5%92%8C%E4%BC%B0%E5%80%BC%E6%8F%90%E5%8D%87%E8%AE%A1%E5%88%92%E7%9A%84%E5%88%B6%E5%AE%9A%E8%90%BD%E5%AE%9E%E6%83%85%E5%86%B5) The company established a "Market Value Management System" in August 2025 but has not yet disclosed a valuation enhancement plan - The company has formulated a "Market Value Management System," which was approved and became effective at the 9th meeting of the 8th Board of Directors on August 14, 2025[85](index=85&type=chunk) - The company has not yet disclosed a valuation enhancement plan[85](index=85&type=chunk) [XIII. Implementation of the "Dual Enhancement of Quality and Returns" Action Plan](index=29&type=section&id=%E5%8D%81%E4%B8%89%E3%80%81%E2%80%9C%E8%B4%A8%E9%87%8F%E5%9B%9E%E6%8A%A5%E5%8F%8C%E6%8F%90%E5%8D%87%E2%80%9D%E8%A1%8C%E5%8A%A8%E6%96%B9%E6%A1%88%E8%B4%AF%E5%BD%BB%E8%90%BD%E5%AE%9E%E6%83%85%E5%86%B5) The company has not yet disclosed an announcement regarding its "Dual Enhancement of Quality and Returns" action plan - The company has not yet disclosed an announcement regarding its "Dual Enhancement of Quality and Returns" action plan[86](index=86&type=chunk) Section 4: Corporate Governance, Environment, and Society [I. Changes in Directors, Supervisors, and Senior Management](index=30&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, several changes occurred in the company's board and senior management, including the election of a new chairman and the appointment of a new vice president Changes in Directors, Supervisors, and Senior Management | Name | Position | Type | Date | Reason | | :--- | :--- | :--- | :--- | :--- | | Zhang Li | Chairman | Elected | April 29, 2025 | Work transfer | | Hou Ruipeng | Director | Elected | May 14, 2025 | Work transfer | | Wang Mengchen | Employee Representative Director | Elected | June 23, 2025 | Work transfer | | Hou Ruipeng | Vice President | Appointed | April 21, 2025 | Work transfer | | Feng Xinguang | Board Secretary | Appointed | April 29, 2025 | Work transfer | | Yang Xiaodong | Chairman | Resigned | April 27, 2025 | Personal reasons | | Zhu Subin | Director | Resigned | April 20, 2025 | Personal reasons | | Meng Xiangyuan | Vice President, Board Secretary | Resigned | April 28, 2025 | Personal reasons | [II. Profit Distribution and Capitalization of Capital Reserve for the Reporting Period](index=30&type=section&id=%E4%BA%8C%E3%80%81%E6%9C%AC%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%88%A9%E6%B6%A6%E5%88%86%E9%85%8D%E5%8F%8A%E8%B5%84%E6%9C%AC%E5%85%AC%E7%A7%AF%E9%87%91%E8%BD%AC%E5%A2%9E%E8%82%A1%E6%9C%AC%E6%83%85%E5%86%B5) The company does not plan to distribute cash dividends, issue bonus shares, or capitalize its capital reserve for the semi-annual period - The company plans not to distribute cash dividends, issue bonus shares, or convert capital reserves into share capital for the semi-annual period[89](index=89&type=chunk) [III. Implementation of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=30&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E6%9D%83%E6%BF%80%E5%8A%B1%E8%AE%A1%E5%88%92%E3%80%81%E5%91%98%E5%B7%A5%E6%8C%81%E8%82%A1%E8%AE%A1%E5%88%92%E6%88%96%E5%85%B6%E4%BB%96%E5%91%98%E5%B7%A5%E6%BF%80%E5%8A%B1%E6%8E%AA%E6%96%BD%E7%9A%84%E5%AE%9E%E6%96%BD%E6%83%85%E5%86%B5) The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures during the reporting period - The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures, nor their implementation, during the reporting period[90](index=90&type=chunk) [IV. Environmental Information Disclosure](index=30&type=section&id=%E5%9B%9B%E3%80%81%E7%8E%AF%E5%A2%83%E4%BF%A1%E6%81%AF%E6%8A%AB%E9%9C%B2%E6%83%85%E5%86%B5) The company and its key subsidiary, Huaren Pharmaceutical (Rizhao) Co, Ltd, are included in the list of enterprises required to disclose environmental information and have published their reports - The listed company and its main subsidiary, Huaren Pharmaceutical (Rizhao) Co, Ltd, are included in the list of enterprises required to disclose environmental information by law[91](index=91&type=chunk) - The environmental information disclosure report for Huaren Pharmaceutical (Rizhao) Co, Ltd can be found on the website of the Rizhao Municipal Bureau of Ecology and Environment[91](index=91&type=chunk) [V. Social Responsibility](index=30&type=section&id=%E4%BA%94%E3%80%81%E7%A4%BE%E4%BC%9A%E8%B4%A3%E4%BB%BB%E6%83%85%E5%86%B5) As a state-controlled pharmaceutical enterprise, the company actively fulfills its social responsibilities in environmental protection, safety, and public welfare while protecting stakeholder interests - The company adheres to the business philosophy of "environmental protection, health, and safety" and takes "shouldering the great responsibility entrusted by health and life, serving human health!" as its corporate mission[92](index=92&type=chunk) - The company continuously operates its occupational health, safety, and environmental management systems, has had no environmental pollution incidents to date, and all waste was legally disposed of in H1 2025[93](index=93&type=chunk) - The company consistently follows the "safety first, prevention foremost, comprehensive governance" principle, implements the production safety responsibility system, and had no production safety accidents during the reporting period[94](index=94&type=chunk) - The company integrates Party leadership throughout its corporate governance, leveraging the core leadership role of Party organizations to guide enterprise development[95](index=95&type=chunk) - The company operates in compliance with laws and regulations, strictly adheres to national tax laws, and fulfills its tax obligations in a timely and full manner[96](index=96&type=chunk) - The company convenes shareholder meetings in accordance with laws, fulfills its information disclosure obligations, and maintains communication with investors through various channels to protect the interests of shareholders and creditors[96](index=96&type=chunk) - The company upholds a "people-oriented, talent-valued" employment philosophy, ensures labor protection, provides humanistic care, and effectively safeguards the legal rights and interests of its employees[97](index=97&type=chunk)[98](index=98&type=chunk) - The company is customer-centric, respects the rights of suppliers, fosters a fair business environment, and mitigates risks through internal audit and anti-fraud systems to protect investor interests[98](index=98&type=chunk) - The company strictly adheres to information disclosure principles, maintains communication with investors through various platforms, and actively participates in investor protection and education initiatives[99](index=99&type=chunk) [(I) Environmental Protection and Sustainable Development](index=30&type=section&id=(%E4%B8%80)%20%E7%8E%AF%E5%A2%83%E4%BF%9D%E6%8A%A4%E4%B8%8E%E5%8F%AF%E6%8C%81%E7%BB%AD%E5%8F%91%E5%B1%95) The company prioritizes environmental protection, promoting energy conservation and clean production, and has maintained a record of zero environmental pollution incidents - The company encourages energy and resource conservation, implements clean production, and exercises full-process control over waste to enhance recycling[93](index=93&type=chunk) - The company effectively maintains its occupational health, safety, and environmental management systems and has had no environmental pollution incidents since its inception[93](index=93&type=chunk) - In June 2025, the company successfully passed the recertification audit for its GB/T24001-2016/ISO14001:2015 environmental management system, which is operating normally[93](index=93&type=chunk) [(II) Safety Production](index=31&type=section&id=(%E4%BA%8C)%20%E5%AE%89%E5%85%A8%E7%94%9F%E4%BA%A7) The company adheres to a "safety first" policy, fully implementing safety responsibilities and maintaining a record of zero production accidents during the reporting period - The company consistently adheres to the "safety first, prevention foremost, comprehensive governance" principle, implements the safety production responsibility system, and had no production safety accidents during the reporting period[94](index=94&type=chunk) - The company conducted safety education and training activities as planned, including "First Lesson on Safety at Work Resumption" and "Safety Accident Warning Education," along with monthly and holiday safety inspections[94](index=94&type=chunk) - In June 2025, the company successfully passed the recertification audit for its GB/T45001-2020/ISO45001:2018 occupational health and safety management system, which is operating normally[94](index=94&type=chunk) [(III) Social and Public Welfare](index=31&type=section&id=(%E4%B8%89)%20%E7%A4%BE%E4%BC%9A%E5%85%AC%E7%9B%8A%E4%BA%8B%E4%B8%9A) The company leverages Party leadership to guide corporate governance and integrates Party building with compliant business operations while fulfilling its tax obligations - The company integrates Party leadership throughout its corporate governance, leveraging the core leadership role of Party organizations to improve and regulate decision-making[95](index=95&type=chunk) - The company adheres to the principle of Party management of cadres, strengthens grassroots Party organizations, and promotes the integration of Party building with compliant business operations[95](index=95&type=chunk) - The company operates in compliance with laws and regulations, strictly adheres to national tax laws, and fulfills its tax obligations in a timely and full manner[96](index=96&type=chunk) [(IV) Protection of Shareholder and Creditor Rights](index=31&type=section&id=(%E5%9B%9B)%20%E8%82%A1%E4%B8%9C%E5%8F%8A%E5%80%BA%E6%9D%83%E4%BA%BA%E6%9D%83%E7%9B%8A%E4%BF%9D%E6%8A%A4) The company ensures shareholder participation through legal compliance and network voting, maintains transparent information disclosure, and upholds a sound financial policy to protect stakeholder interests - The company strictly adheres to laws such as the "Company Law" and "Securities Law," convenes shareholder meetings legally, and actively uses methods like online voting to increase shareholder participation[96](index=96&type=chunk) - The company strictly fulfills its information disclosure obligations, ensuring that information is disclosed to all shareholders in a truthful, accurate, complete, timely, and fair manner[96](index=96&type=chunk) - The company maintains a sound financial policy, ensuring the security of its assets and funds, and balances the interests of shareholders and creditors, with no non-operating fund occupation by major shareholders during the reporting period[96](index=96&type=chunk) [(V) Protection of Employee Rights](index=32&type=section&id=(%E4%BA%94)%20%E8%81%8C%E5%B7%A5%E6%9D%83%E7%9B%8A%E4%BF%9D%E6%8A%A4) The company is committed to employee welfare, ensuring legal labor protections, providing comprehensive benefits, and fostering a supportive work environment - The company ensures sound labor protection, strictly complies with the "Labor Contract Law," signs labor contracts with employees, pays social insurance and housing provident funds, and guarantees various types of leave[97](index=97&type=chunk) - The company continuously improves its human resource management systems, including performance-based compensation, knowledge development, and technical skills enhancement, and has a well-established employee training system[98](index=98&type=chunk) - The company provides various humanistic care benefits, such as birthday vouchers, marriage and childbirth gifts, a benevolence fund for employees in need, and a "Loving Mothers' Room," to enhance employees' sense of belonging[98](index=98&type=chunk) [(VI) Protection of Stakeholder Rights](index=32&type=section&id=(%E5%85%AD)%20%E5%88%A9%E7%9B%8A%E7%9B%B8%E5%85%B3%E6%96%B9%E6%9D%83%E7%9B%8A%E4%BF%9D%E6%8A%A4) The company focuses on customer-centric services, respects supplier rights, and maintains a fair business environment through robust internal controls and anti-fraud measures - The company is consistently customer-centric, establishing and improving its product after-sales service system, while also respecting the legal rights of suppliers and focusing on supply chain integration[98](index=98&type=chunk) - The company has formulated and strictly implements an "Internal Audit System" to standardize internal audit work, prevent and control corporate risks, and protect the legal rights of investors[98](index=98&type=chunk) - The company strictly implements an "Anti-Fraud and Whistleblowing System" to strengthen corporate governance and internal controls, prevent fraud, and safeguard the legal rights of the company and its shareholders[98](index=98&type=chunk) [(VII) Investor Relations Management](index=32&type=section&id=(%E4%B8%83)%20%E6%8A%95%E8%B5%84%E8%80%85%E5%85%B3%E7%B3%BB%E7%AE%A1%E7%90%86) The company ensures timely and accurate information disclosure, actively engages with investors through various platforms, and participates in investor protection and education activities - The company strictly adheres to legal and regulatory requirements, ensuring the truthfulness, accuracy, timeliness, and completeness of its information disclosure, with **56 compliant announcements** made during the reporting period[99](index=99&type=chunk) - The company responded to a total of **54 investor questions** on the Shenzhen Stock Exchange's "Easy Interaction" platform, actively listening to the opinions and suggestions of minority shareholders[99](index=99&type=chunk) - The company actively participated in various investor protection and education campaigns, including events on March 15, April 15, and May 15, as well as online collective investor reception days[99](index=99&type=chunk) Section 5: Important Matters [I. Commitments Fulfilled During the Reporting Period and Overdue Commitments at Period-End](index=33&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E3%80%81%E8%82%A1%E4%B8%9C%E3%80%81%E5%85%B3%E8%81%94%E6%96%B9%E3%80%81%E6%94%B6%E8%B4%AD%E4%BA%BA%E4%BB%A5%E5%8F%8A%E5%85%AC%E5%8F%B8%E7%AD%89%E6%89%BF%E8%AF%BA%E7%9B%B8%E5%85%B3%E6%96%B9%E5%9C%A8%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%B1%A5%E8%A1%8C%E5%AE%8C%E6%AF%95%E5%8F%8A%E6%88%AA%E8%87%B3%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E8%B6%85%E6%9C%9F%E6%9C%AA%E5%B1%A5%E8%A1%8C%E5%AE%8C%E6%AF%95%E7%9A%84%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9) There were no commitments fulfilled during the reporting period or overdue commitments at period-end by the company's controlling shareholders, related parties, or the company itself - The company had no commitments from its actual controller, shareholders, related parties, acquirers, or the company itself that were fulfilled during the reporting period or remained unfulfilled and overdue at the end of the reporting period[102](index=102&type=chunk) [II. Non-operational Fund Occupation by Controlling Shareholders and Other Related Parties](index=33&type=section&id=%E4%BA%8C%E3%80%81%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%B3%E8%81%94%E6%96%B9%E5%AF%B9%E4%B8%8A%E5%B8%82%E5%85%AC%E5%8F%B8%E7%9A%84%E9%9D%9E%E7%BB%8F%E8%90%A5%E6%80%A7%E5%8D%A0%E7%94%A8%E8%B5%84%E9%87%91%E6%83%85%E5%86%B5) There was no non-operational fund occupation of the listed company by its controlling shareholder or other related parties during the reporting period - The company had no instances of non-operational fund occupation by its controlling shareholder or other related parties during the reporting period[103](index=103&type=chunk) [III. Irregular External Guarantees](index=33&type=section&id=%E4%B8%89%E3%80%81%E8%BF%9D%E8%A7%84%E5%AF%B9%E5%A4%96%E6%8B%85%E4%BF%9D%E6%83%85%E5%86%B5) The company had no irregular external guarantees during the reporting period - The company had no irregular external guarantees during the reporting period[104](index=104&type=chunk) [IV. Appointment and Dismissal of Accounting Firm](index=33&type=section&id=%E5%9B%9B%E3%80%81%E8%81%98%E4%BB%BB%E3%80%81%E8%A7%A3%E8%81%98%E4%BC%9A%E8%AE%A1%E5%B8%88%E4%BA%8B%E5%8A%A1%E6%89%80%E6%83%85%E5%86%B5) The company's semi-annual financial report has not been audited - The company's semi-annual report has not been audited[105](index=105&type=chunk) [V. Explanation on "Non-standard Audit Report" by the Board, Supervisory Committee, and Audit Committee](index=33&type=section&id=%E4%BA%94%E3%80%81%E8%91%A3%E4%BA%8B%E4%BC%9A%E3%80%81%E7%9B%91%E4%BA%8B%E4%BC%9A%E3%80%81%E5%AE%A1%E8%AE%A1%E5%A7%94%E5%91%98%E4%BC%9A%E5%AF%B9%E4%BC%9A%E8%AE%A1%E5%B8%88%E4%BA%8B%E5%8A%A1%E6%89%80%E6%9C%AC%E6%8A%A5%E5%91%8A%E6%9C%9F%E2%80%9C%E9%9D%9E%E6%A0%87%E5%87%86%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A%E2%80%9D%E7%9A%84%E8%AF%B4%E6%98%8E) The company did not have a non-standard audit report during the reporting period - The company did not have a non-standard audit report during the reporting period[106](index=106&type=chunk) [VI. Board's Explanation on the Previous Year's "Non-standard Audit Report"](index=33&type=section&id=%E5%85%AD%E3%80%81%E8%91%A3%E4%BA%8B%E4%BC%9A%E5%AF%B9%E4%B8%8A%E5%B9%B4%E5%BA%A6%E2%80%9C%E9%9D%9E%E6%A0%87%E5%87%86%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A%E2%80%9D%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5%E7%9A%84%E8%AF%B4%E6%98%8E) The company had no explanation regarding a non-standard audit report from the previous year - The company had no explanation regarding a non-standard audit report from the previous year during the reporting period[106](index=106&type=chunk) [VII. Bankruptcy and Reorganization Matters](index=33&type=section&id=%E4%B8%83%E3%80%81%E7%A0%B4%E4%BA%A7%E9%87%8D%E6%95%B4%E7%9B%B8%E5%85%B3%E4%BA%8B%E9%A1%B9) The company had no bankruptcy or reorganization matters during the reporting period - The company had no bankruptcy or reorganization matters during the reporting period[106](index=106&type=chunk) [VIII. Litigation Matters](index=33&type=section&id=%E5%85%AB%E3%80%81%E8%AF%89%E8%AE%BC%E4%BA%8B%E9%A1%B9) The company is involved in two major lawsuits related to equity transfer disputes, with total amounts claimed of CNY 284.29 million and CNY 787.02 million, respectively Major Litigation and Arbitration Matters | Basic Situation | Amount Involved (CNY 10k) | Provision for Liabilities | Progress | Disclosure Date | | :--- | :--- | :--- | :--- | :--- | | Five plaintiffs sued Huaren Pharmaceutical and its subsidiary over an equity transfer dispute, demanding payment of CNY 256 million in outstanding transfer fees plus overdue penalties, with Huaren Pharmaceutical to bear joint liability | 28,428.8 | No | Proceedings suspended by court order | September 18, 2024 | | A wholly-owned subsidiary of Huaren Pharmaceutical sued fifteen defendants over an equity transfer dispute, requesting the revocation of the equity acquisition agreement and the return of CNY 544 million in transfer payments plus CNY 243 million in interest | 78,701.99 | No | First-instance stage, trial has not yet commenced | October 18, 2024 | - In H1 2025, the company and its subsidiaries had no new major litigation or arbitration matters; the total amount involved in other non-major litigation and arbitration was **CNY 14.59 million**[109](index=109&type=chunk) - Of this, the amount involved in cases where the company and its subsidiaries were plaintiffs was **CNY 1.74 million**, and the amount where they were defendants was **CNY 12.85 million**[109](index=109&type=chunk) [IX. Penalties and Rectifications](index=35&type=section&id=%E4%B9%9D%E3%80%81%E5%A4%84%E7%BD%9A%E5%8F%8A%E6%95%B4%E6%94%B9%E6%83%85%E5%86%B5) The company had no penalties or rectifications during the

Core Viewpoint - Huarun Pharmaceutical's stock has experienced a decline, with significant net outflow of funds and a notable decrease in revenue and profit in the latest financial report [1][3] Financial Performance - As of the first quarter of 2025, Huarun Pharmaceutical reported total revenue of 303 million yuan, a year-on-year decrease of 25.38% [1] - The net profit attributable to shareholders was 16.03 million yuan, down 68.46% year-on-year [1] - The non-recurring net profit was 12.26 million yuan, reflecting a 74.87% decrease compared to the previous year [1] - The company's liquidity ratios are as follows: current ratio at 0.720 and quick ratio at 0.547, with a debt-to-asset ratio of 59.70% [1] Stock Market Activity - Huarun Pharmaceutical's stock closed at 3.49 yuan, down 3.59%, with a turnover rate of 2.5% [1] - The trading volume was 295,000 hands, with a transaction amount of 105 million yuan [1] - There was a net outflow of main funds amounting to 12.33 million yuan, accounting for 11.8% of the transaction amount [1] Company Background - Huarun Pharmaceutical Co., Ltd. was established in 1998 and is located in Qingdao, primarily engaged in the pharmaceutical manufacturing industry [2] - The company has a registered capital of 1.182 billion yuan and a paid-in capital of 100 million yuan [2] - The legal representative of the company is Zhang Li [2] Investment and Intellectual Property - Huarun Pharmaceutical has made investments in 16 enterprises and participated in 1,805 bidding projects [2] - The company holds 64 trademark registrations and 327 patents, along with 117 administrative licenses [2]

Group 1 - Gao Ling Information announced that three shareholders plan to reduce their holdings by a total of up to 2.42% of the company's shares due to personal funding needs [1] - The shareholders include Zhuhai Hengqin New Area Zixiao Investment Partnership, Zhuhai Hengqin New Area Qucheng Investment Partnership, and Zhuhai Huajin Lingyue Intelligent Manufacturing Industry Investment Fund [1] - Gao Ling Information specializes in the R&D, production, and sales of telecommunications network communication equipment, environmental IoT application products, and network and information security products [1] Group 2 - Anglikang has only one innovative drug project under research, ALK-N001, which is currently in Phase I clinical trials [2] - The company is also considering a new innovative drug pipeline project, ALK-N002, which is still in the candidate selection phase [2] - Anglikang focuses on the production and manufacturing of pharmaceuticals, including chemical raw materials and preparations [2] Group 3 - Qixiang Tengda announced the completion of maintenance and technical upgrades for its 300,000 tons/year propylene oxide facility, which has resumed normal production [3] - The company operates in the chemical manufacturing and supply chain management sectors [3] Group 4 - Delisi signed a strategic cooperation agreement with Xiamen Haifusheng Food Group and Xin Sanhe Food Co., Ltd. to collaborate in product supply, market expansion, and technology [4] - Delisi specializes in the production and sales of frozen meat and related products [4] Group 5 - Jinlang Technology's application for issuing convertible bonds has been approved by the Shenzhen Stock Exchange [5] - The company is engaged in the R&D, production, and sales of string inverters [5] Group 6 - Lingyi Zhi Zao plans to acquire a 66.46% stake in Jiangsu Keda through a combination of issuing convertible bonds and cash [6] - The company provides comprehensive intelligent manufacturing services and solutions [6] Group 7 - Jinshi Technology intends to publicly transfer 100% equity of its wholly-owned subsidiary, Hunan Jinshi Technology [7] - The company focuses on digital sanitation, water ecology, and solid waste disposal [7] Group 8 - Qidi Environment announced that 2 million shares held by shareholder Sander Group have been transferred through judicial auction [8] - The company operates in the environmental management sector [8] Group 9 - Guang'an Aizhong expects a reduction in net profit of approximately 39.38 million due to the implementation of a low valley electricity price policy [9] - The company is involved in power generation, supply, and natural gas supply [9] Group 10 - Kangyuan Pharmaceutical received a drug registration certificate for its proprietary product, Canpu Granules, used for treating chronic pelvic pain [10] - The company specializes in the R&D, production, and sales of pharmaceuticals [10] Group 11 - Changqing Technology announced that two shareholders plan to reduce their holdings by up to 5.98% due to personal funding needs [11] - The company focuses on rail transit and building decoration businesses [11] Group 12 - Huaren Pharmaceutical's shareholder plans to reduce its holdings by up to 1% of the company's total shares [12] - The company is a state-controlled pharmaceutical health industry group [12] Group 13 - Jinkai New Energy announced the completion of the first phase of an AI computing power technology service contract [13] - The company is involved in the development, investment, construction, and operation of renewable energy power [13] Group 14 - Sany Heavy Industry has repurchased a total of 72.6792 million shares, amounting to 1.355 billion [14] - The company specializes in the R&D, manufacturing, and sales of engineering machinery [14] Group 15 - Chip导科技 plans to acquire 100% of Shunlei Technology and 17.15% of Shunlei Technology through convertible bonds and cash [15] - The company focuses on the R&D and sales of power semiconductors [15] Group 16 - Tuo Shan Heavy Industry reported that its recent operating conditions are normal, with no significant changes in the internal and external business environment [16] - The company specializes in the R&D, design, production, and sales of engineering machinery components [16] Group 17 - Chang'an Automobile reported a July sales figure of 210,600 vehicles, a year-on-year increase of 23.43% [17] - The company is engaged in the R&D, manufacturing, and sales of vehicles and engines [17]

2024年1至12月份，华仁药业的营业收入构成为：医药工业占比93.83%，医药商业占比6.17%。 （文章来源：每日经济新闻） 华仁药业（SZ 300110，最新价：3.59元）8月3日晚间发布公告称，华仁药业股份有限公司于近日收到 持股5%以上股东红塔创新投资股份有限公司《关于减持华仁药业股份计划的告知函》，红塔创新计划 自减持计划公告之日起十五个交易日后的三个月内（即2025年8月26日至2025年11月25日）通过集中竞 价交易方式减持不超过公司总股本1%的股份，即不超过1182万股。 ...

Core Viewpoint - On August 3, no A-share listed companies disclosed any increase in shareholding, while 13 companies announced share reductions, indicating a trend of shareholder divestment in the market [1]. Group 1: Companies with Share Reductions - Guo An Guo Ji: Independent director Yang Deli plans to reduce holdings by no more than 5,000 shares [2]. - Changqing Technology: Shareholders plan to collectively reduce holdings by up to 5.98% of the company's shares [2]. - Zhongqi New Materials: Shareholders will reduce holdings by no more than 3% of the company's shares [2]. - Bangjie Shares: Shareholders Shanghai Fangyuan and Zhejiang Dianchuang plan to reduce their holdings [2]. - Huayi: Shareholder holding over 5% intends to reduce holdings by no more than 1% of the company's shares [2]. - Gaoling Information: Shareholders plan to reduce holdings by no more than 2.42% of the company's shares [2]. - Renzhi Shares: Directors and senior management plan to reduce holdings by no more than 2.8 million shares [2]. - Zhongshe Shares: Lu Weidong and Yuan Yijun plan to reduce holdings by no more than 0.4332% and 0.1509% of shares, respectively [2]. - Daoming Optical: Shareholder Hu Huiling plans to reduce holdings by no more than 0.48% of the company's shares [2]. - United Imaging Healthcare: Employee stock ownership platform plans to reduce holdings by no more than 1.6231% of the company's shares [2]. - Lijing Navigation: Shareholders and their concerted actions plan to reduce holdings by no more than 3% of the company's shares [2]. - Chenfeng Technology: Xizhou Yunda plans to reduce holdings by no more than 1% of shares [2]. - Fangda Special Steel: Shareholder Xu Hui plans to reduce holdings by no more than 1% of the company's shares [2].

Core Viewpoint - Huaren Pharmaceutical (300110.SZ) announced a plan for Red Tower Innovation to reduce its holdings by up to 1% of the company's total share capital, equating to a maximum of 11.82 million shares, within three months starting from August 26, 2025, to November 25, 2025, through centralized bidding transactions [1] Summary by Category - **Company Announcement** - Huaren Pharmaceutical has disclosed a share reduction plan involving Red Tower Innovation, which will take place over a specified period [1] - **Share Reduction Details** - The reduction will not exceed 1% of the total share capital, amounting to a maximum of 11.82 million shares [1] - The timeframe for this reduction is set from August 26, 2025, to November 25, 2025 [1] - The method of reduction will be through centralized bidding transactions [1]

人民财讯8月3日电，华仁药业(300110)8月3日晚公告，红塔创新计划自减持计划公告之日起十五个交易 日后的三个月内（即2025年8月26日至2025年11月25日）通过集中竞价交易方式减持不超过公司总股本 1%的股份，即不超过1182万股。 （原标题：华仁药业：红塔创新计划减持不超过1%公司股份） ...