Core Viewpoint - Zhaoli Pharmaceutical has received a revised "Drug Production License" from the Zhejiang Provincial Drug Administration, which includes changes in key personnel and the addition of new production lines to enhance production capacity and quality management [1] Group 1: License Changes - The quality responsible person has been changed from Xia Zhanqiang to Peng Xiaoguo [1] - The quality authorizers have been updated to include Peng Xiaoguo and Fang Mingchun, replacing Xia Zhanqiang [1] - The production responsible person has been changed from Peng Xiaoguo to Zhu Xiaoping [1] Group 2: New Production Facilities - New workshops and production lines have been added, including the 106 workshop's capsule production line, the 204 pre-treatment workshop, and additional lines for tablets and granules [1] - The production scope now includes hard capsules, tablets, and granules, which will help optimize production layout and meet market demand [1] Group 3: Impact on Operations - The changes are expected to improve production and quality management, enhance capacity, and refine product structure [1] - There is no significant impact on the company's performance anticipated from these changes [1]

Group 1 - The Chinese medicine sector saw a rise of 0.54% on January 20, with *ST Changyao leading the gains [1] - The Shanghai Composite Index closed at 4113.65, down 0.01%, while the Shenzhen Component Index closed at 14155.63, down 0.97% [1] - Notable gainers in the Chinese medicine sector included *ST Changyao with a closing price of 0.53, up 20.45%, and ST Xiangxue with a closing price of 9.72, up 7.05% [1] Group 2 - The Chinese medicine sector experienced a net outflow of 23.25 million yuan from major funds, while retail investors saw a net inflow of 20.95 million yuan [2] - The top stocks by net inflow from retail investors included *ST Changyao and ST Xiangxue, with retail inflows of 2.20 million yuan and 4.16 million yuan respectively [3] - Major funds showed a significant net outflow in stocks like Zhongsheng Pharmaceutical and Yiling Pharmaceutical, with net outflows of 10.68 million yuan and 5.57 million yuan respectively [3]

浙江佐力药业股份有限公司 关于公司药品生产许可证变更的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 浙江佐力药业股份有限公司（以下简称"公司"）于近期完成了《药品生产 许可证》的变更登记并取得了浙江省药品监督管理局换发的《药品生产许可证》， 同意公司《药品生产许可证》质量负责人、质量受权人、生产负责人的变更，同 时新增车间和生产线，其他内容不变。变更后的《药品生产许可证》具体内容如 下： 一、《药品生产许可证》的基本情况 企业名称：浙江佐力药业股份有限公司 社会信用代码：91330000147115443M 注册地址：浙江省德清县阜溪街道志远北路 388 号 法定代表人：汪涛 企业负责人：汪涛 质量负责人：彭晓国 质量受权人：彭晓国、方明春 生产负责人：朱晓平 许可证编号：浙 20000101 分类码：AhzyDz 有效期限至：2030 年 5 月 29 日 生产地址和生产范围：浙江省德清县阜溪街道志远北路 388 号：中药饮片（含 毒性饮片）、原料药、片剂、硬胶囊剂、颗粒剂*** 证券代码：300181 证券简称：佐力药业 公告编号：2026-003 ...

Investment Rating - The industry maintains a "Overweight" rating, suggesting a positive outlook for investment opportunities in the sector [6]. Core Insights - The Chinese medicine sector experienced a decline of 1% last week, with the overall pharmaceutical and biological index down by 0.68%. The only sub-sector to record positive returns was medical services, which rose by 3.29% [2]. - The price-to-earnings (PE) ratio for the Chinese medicine sector is currently at 27.11X, a decrease of 0.28X week-on-week, while the price-to-book (PB) ratio stands at 2.28X, down by 0.02X. These ratios indicate that the sector is within the 28.25% and 5.37% percentiles since 2013, respectively [3]. - The market for traditional Chinese medicine materials is experiencing reduced traffic, with a downward trend expected throughout 2025 due to supply expansion leading to a mismatch in supply and demand. The overall price index for traditional Chinese medicine materials fell by 29.31 points from the beginning to the end of 2025 [4]. - The adjustment of the essential drug list is anticipated to make significant progress in 2026, enhancing the accessibility of grassroots medications and potentially expanding the market rapidly [5]. Summary by Sections Market Performance - The Chinese medicine sector's index closed at 6350.32 points, reflecting a 1% decline last week. In comparison, the chemical pharmaceuticals and biological products sectors also saw declines of 2.4% and 1.21%, respectively [2][12]. Valuation - The current PE ratio for the Chinese medicine sector is 27.11X, with a year-high of 30.26X and a year-low of 24.72X. The PB ratio is 2.28X, with a maximum of 2.52X and a minimum of 2.17X over the past year [3]. Supply Chain Insights - The market for traditional Chinese medicine materials is currently facing a decrease in traffic, with a price index showing a downward trend. The overall price index for 2025 is expected to reflect a decline due to previous overproduction [4]. Policy Developments - The essential drug list has not been updated since 2018, but significant adjustments are expected in 2026, which may enhance the synergy between the essential drug list and medical insurance policies [5]. Investment Recommendations - The report suggests focusing on three main investment themes: price governance, consumption recovery, and state-owned enterprise reform. Companies with strong R&D capabilities and unique products are highlighted as potential investment opportunities [6][10].

Group 1 - Zhaoli Pharmaceutical announced an investor research meeting scheduled for January 15, 2026, from 10:00 to 11:30, where company executives will address investor inquiries [1] - The meeting will be attended by Mr. Feng Guofu, the company's director and executive vice president, and Ms. Wu Ying, the board secretary [1] Group 2 - The Ministry of Finance has imposed maximum penalties on a company for concealing key audit work papers and refusing to cooperate with investigations regarding billions in fraudulent accounting [1]

Group 1: OTC Development - In 2025, the company experienced good growth in the OTC sector, attributed to the optimization of the sales organization and strategic partnerships with chain pharmacies [1] - The company plans to enhance the "hospital + community" dual-drive strategy in 2026, focusing on increasing coverage in national chain pharmacies and promoting end-user sales through education [1] - The goal is to increase the C-end sales proportion to 20%-30% [2] Group 2: Product Performance - The Bai Ling series saw a year-on-year growth of approximately 30% in the first three quarters of 2025 [2] - The company expects to maintain steady growth and expand market share through price-volume strategies following the nationwide procurement implementation [2] Group 3: Acquisition and Financial Management - Payment for the acquisition of the Future Pharmaceutical asset group will be phased based on the completion of various milestones outlined in the acquisition agreement [2] - Sales expenses in 2026 will fluctuate based on marketing strategies and product structure changes, with a focus on cost control and efficiency improvements [2]

Core Viewpoint - Zhaoli Pharmaceutical (300181.SZ) has successfully passed the GMP compliance inspection, indicating that its production facilities meet the required standards, which is expected to positively impact the company's future development [1] Group 1 - The company received the GMP compliance inspection notice from the Zhejiang Provincial Drug Administration [1] - The successful inspection demonstrates that the company's relevant workshops and production lines comply with GMP requirements [1] - This achievement is beneficial for maintaining stable product quality and production capacity to meet market demand [1]

证券代码：300181 证券简称：佐力药业 公告编号：2026-002 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。 浙江佐力药业股份有限公司（以下简称"公司"）于近日收到浙江省药品监督 管理局签发的《药品GMP符合性检查告知书》（编号：浙2026第0012号），现 将相关情况公告如下： 一、GMP检查相关信息 1、被检查单位名称：浙江佐力药业股份有限公司 2、检查地址：浙江省德清县阜溪街道志远北路388号 3、检查范围及相关生产车间、生产线：颗粒剂：204车间、106车间，106 颗粒剂生产线；硬胶囊剂：106车间，106胶囊剂生产线；片剂：204前处理车间、 204车间、106车间，106片剂生产线。 4、检查类型：依申请GMP符合性检查 浙江佐力药业股份有限公司 关于公司通过药品GMP符合性检查的公告 二、对公司的影响及风险提示 公司本次顺利通过药品GMP符合性检查，表明公司相关车间和生产线符合 GMP要求。本次通过药品GMP符合性检查，有利于公司继续保持稳定的产品质 量和生产能力，以满足相关药品的市场需求，对公司未来稳健发展有着积极的推 动作用。由于 ...

证券日报网讯 1月14日，佐力药业发布公告称，中汇作为公司2025年度审计机构，原委派陈达华为签字 项目合伙人、黄非为签字注册会计师为公司提供2025年度审计服务。因工作调整，现委派曾宪忠接替黄 非为签字注册会计师，继续完成公司2025年度财务报告审计及内部控制审计相关工作。变更后，为公司 提供2025年度审计服务的签字项目合伙人、签字注册会计师分别为陈达华和曾宪忠。 （文章来源：证券日报） ...

证券代码：300181 证券简称：佐力药业 公告编号：2026-001 一、本次变更的基本情况 中汇作为公司 2025 年度审计机构，原委派陈达华为签字项目合伙人、黄非 为签字注册会计师为公司提供 2025 年度审计服务。因工作调整，现委派曾宪忠 接替黄非为签字注册会计师，继续完成公司 2025 年度财务报告审计及内部控制 审计相关工作。 变更后，为公司提供 2025 年度审计服务的签字项目合伙人、签字注册会计 师分别为陈达华和曾宪忠。 二、本次变更后新任注册会计师的信息 浙江佐力药业股份有限公司 关于变更签字注册会计师的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 浙江佐力药业股份有限公司（以下简称"公司"）于 2025 年 4 月 23 日召开第 八届董事会第五次会议、第八届监事会第五次会议，于 2025 年 5 月 15 日召开 2024 年度股东大会审议通过《关于续聘 2025 年度会计师事务所的议案》，同意 续聘中汇会计师事务所（特殊普通合伙）（以下简称"中汇"）为公司 2025 年度审 计机构。具体内容详见公司于 2025 年 4 月 25 ...