Financial Performance - The company reported an increase in mid-year performance compared to last year, but remains in a loss state [2] - Future strategies will focus on improving net profit through various products and avenues [2] Pharmaceutical Manufacturing - The decline in raw material prices for 6-APA and the recovery in prices for the key intermediate 4-AA will enhance the gross margin of the pharmaceutical business [3] - Successful completion of supplier qualification for the new process product, Tazobactam, is expected to reduce production costs and improve market competitiveness [3] - Expansion of Piperacillin production capacity is underway, with significant market demand for combination formulations [3] - New compound formulations are being launched, which will drive demand for related products [3] New Energy Business - The company leads in the industry for lithium battery electrolyte additives in terms of shipment volume and cost control [3] - Current prices for these additives are at historical lows, with limited room for further decline; a price rebound could significantly enhance profits [3] Synthetic Biology - The company is a pioneer in microbial protein production, with significant advancements in core strains, production technology, and market access [4][5] - The registration application for the new protein as a food ingredient has been accepted, with expectations for approval in the second half of the year [4][9] - The company is constructing a project with an annual capacity of 200,000 tons of microbial protein, aiming for a production scale of 20,000 tons of microbial protein and 50,000 tons of amino acid water-soluble fertilizer [5][15] Quality and Certification - The new protein has received multiple international certifications, including HALAL and KOSHER, and has passed various food safety management system certifications [6] - The company has developed proprietary strains and achieved international advanced levels in production technology [5][6] Market Expansion and Collaboration - Strategic partnerships have been established with various companies in the microbial protein sector, enhancing market penetration [11] - The company plans to build an open commercial transformation platform to accelerate product commercialization and brand development [10] Product Development - The new protein can be applied in various sectors, including plant-based meat alternatives, protein drinks, and health products [12] - The company is actively developing new applications and has created several product samples for market introduction [12] Environmental and Regulatory Compliance - The company’s production processes aim for zero emissions and align with national agricultural reduction goals [7][14] - The amino acid water-soluble fertilizer is positioned to meet growing market demands due to regulatory support for green products [15]

Group 1 - The plant-based meat concept index rose by 1.67%, ranking 8th among concept sectors, with 18 stocks increasing in value [1][2] - Leading stocks in the plant-based meat sector included SuoBao Protein, LingGe Technology, and HaiXin Food, which rose by 7.15%, 6.71%, and 4.42% respectively [1][2] - The sector experienced a net inflow of 0.14 billion yuan, with nine stocks receiving net inflows, led by SuoBao Protein with a net inflow of 28.15 million yuan [2][3] Group 2 - The top net inflow ratios in the plant-based meat sector were SuoBao Protein at 8.52%, JiaHua Co. at 7.55%, and FuXiang Pharmaceutical at 7.10% [3][4] - The trading volume for SuoBao Protein was 16.09%, while other notable stocks included AnQi Yeast and FuXiang Pharmaceutical with trading volumes of 1.03% and 3.10% respectively [3][4] - Stocks that saw declines included GuoEn Co. and XueRong Biological, which fell by 3.09% and 0.83% respectively [1][4]

Group 1 - The company, Fuxiang Pharmaceutical, announced the cancellation of 11,355,900 shares, which represents 2.06% of the total shares before cancellation [2] - The total amount for the share repurchase cancellation was RMB 174,830,966 [2] - Following the cancellation, the company's total share capital decreased from 550,004,834 shares to 538,648,934 shares [2]

证券代码：300497 证券简称：富祥药业 公告编号：2025-061 江西富祥药业股份有限公司 关于公司控股股东、实际控制人及其一致行动人权益变动触及1%整 数倍的公告 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。 特别提示： 本次权益变动的主要原因系： 1、江西富祥药业股份有限公司（以下简称"公司"）于2024年2月1日披露了《关 于公司控股股东、实际控制人、董事长及副董事长、高级管理人员增持公司股份计划 的公告》（公告编号：2024-008），公司控股股东、实际控制人、董事长包建华先生 计划自本公告披露之日起6个月内，通过集中竞价或法律法规允许的其他方式增持公 司股票，增持金额不低于2,500万元且不超过5,000万元。包建华先生于2024年4月29日 -2024年5月6日，通过集中竞价方式累计增持235.01万股，占公司总股本比例0.43%， 增持金额为2,513.04万元。 2、公司于2025年6月27日召开第四届董事会第二十八次会议、第四届监事会第十 八次会议，于2025年7月14日召开2025年第二次临时股东大会，审议通过了《关于变 更回购股份 ...

证券代码：300497 证券简称：富祥药业 公告编号：2025-060 江西富祥药业股份有限公司 关于回购股份注销完成暨股份变动公告 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。 特别提示： 1、江西富祥药业股份有限公司（以下简称"公司"）本次注销的回购股份数量 为11,355,900股，占注销前公司总股本的比例为2.06%，回购注销金额为人民币 174,830,966元；本次回购注销完成后，公司总股本由550,004,834股减少为538,648,934 股。 2、公司于2025年9月2日在中国证券登记结算有限责任公司深圳分公司办理完成 上述11,355,900股回购股份的注销手续，后续将依据相关规定在市场监督管理局办理 变更登记及章程备案等相关事宜。 根据《中华人民共和国公司法》《上市公司股份回购规则》《深圳证券交易所上 市公司自律监管指引第9号——回购股份》等有关规定，现将本次回购股份注销完成 情况公告如下： 一、回购股份概述 公司于2021年8月4日召开第三届董事会第二十四次会议，审议通过了《关于回购 公司股份方案的议案》，决定使用不低于人民币1亿元 ...

证券代码：300497 证券简称：富祥药业 公告编号：2025-059 为满足公司战略发展需要，加快拓展微生物蛋白业务市场，公司拟使用自有资金 出资在新加坡设立富祥微生物蛋白应用消费产品开发及销售子公司，注册资本为不超 过300万新加坡元。具体内容详见公司在巨潮资讯网上披露的《关于拟设立子公司的 公告》（公告编号：2024-084）。 二、对外投资进展情况 公司已于近日完成了新加坡全资子公司的注册登记手续，并取得了当地主管部门 签发的注册登记证明文件，具体信息如下： 江西富祥药业股份有限公司 关于新加坡全资子公司完成注册登记的公告 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。 一、对外投资概述 注册登记证明文件。 特此公告。 江西富祥药业股份有限公司 董事会 | 公司名称 | FUNEXT INTERNATIONAL PTE.LTD（未冉国际实业有限公司） | | --- | --- | | 注册编号 | 202531620K | | 成立日期 | 2025年7月21日 | | 公司类型 | SHARES（股份有限公司） PRIVATE COMPANY LI ...

Group 1 - The core viewpoint of the article highlights the recognition of Peng Yun, the Secretary of the Board of Fuxiang Pharmaceutical, who won the 11th Golden Unicorn Award for Outstanding Secretary of the Board, reflecting his exceptional professional capabilities and performance [1][2] - The role of a Secretary of the Board is emphasized as a critical link between listed companies and the capital market, serving multiple functions such as a gatekeeper for corporate governance and a strategist for capital operations [1][2] - The Golden Unicorn Award has been held for eleven sessions, recognizing over 900 outstanding secretaries, and is regarded as a highly authoritative award in the industry, focusing on information disclosure quality and contributions to corporate governance and ESG [1] Group 2 - The article underscores the importance of effective communication by secretaries of the board in building trust between companies, investors, regulatory bodies, and the media, which is essential for long-term stable development [2] - Peng Yun is portrayed as a representative of excellence in the field, with the award reflecting both his individual capabilities and the high recognition of Fuxiang Pharmaceutical's governance and value growth by the market and investors [2]

Core Insights - Microbial protein is a promising exploration under the "Big Food" concept, with significant breakthroughs in recent years, including the approval of yeast protein as a new food ingredient and domestic leaders obtaining GRAS certification in the U.S. [1] - The market for microbial protein is projected to reach a scale of 60 billion yuan by 2035, driven by technological advancements and potential policy support for replacing traditional animal protein [2] Industry Overview - The demand for high-quality protein in China is rising, but there is a supply gap due to reliance on imported plant protein and limited capacity for animal protein. Microbial protein offers a balanced, efficient, and clean alternative, with commercial viability accelerating [1][2] - Microbial protein is categorized into two technological paths: biomass fermentation and precision fermentation. The former is more commercially mature, while the latter, which involves genetic editing, has higher technical difficulty but offers greater added value [2] Company Landscape - Entrepreneurial companies are leading in technological innovation, with examples like Quorn and Impossible Foods setting industry standards. In China, companies like Changjin Bio and Momi Bio are advancing rapidly, with several products nearing commercial production [3] - Traditional consumer goods and meat companies are entering the market through light-asset strategies, leveraging brand and channel advantages, as seen with Nestlé's collaboration with Perfect Day [3] - Major fermentation companies like Budweiser and Angel Yeast are building their own production capacities, benefiting from their accumulated industrial fermentation experience and knowledge [3] Competitive Dynamics - Technology is the core competitive factor across all stages of microbial protein development, influencing product development, regulatory approval, and cost-effective end products. Companies with strong financial backing and production capacity are expected to have a competitive edge [3]

Core Insights - Microbial protein is emerging as a new, nutritious, and efficient alternative protein source, driven by technological advancements and increasing demand for high-quality protein in China [1][2] - The market for microbial protein is projected to reach approximately 60 billion yuan by 2035, with growth catalyzed by technological progress and potential policy support [2] - Key players in the industry include innovative startups and traditional leaders, each leveraging their strengths in technology and capital to capture market opportunities [3][4] Industry Overview - The demand for high-quality protein in China is rising, while supply is constrained by reliance on imported plant proteins and limited animal protein production [1] - Microbial protein, as a subset of alternative proteins, offers superior nutritional profiles and production efficiency, with ongoing commercialization efforts [1][2] - The industry is currently in the introduction and validation phase, with significant advancements in commercial viability since 2020 [2] Technological Pathways - Two main technological pathways for microbial protein production are identified: biomass fermentation and precision fermentation, with the latter being more complex but offering higher value-added products [2] - The commercial maturity of biomass fermentation is higher, particularly in meat and dairy products, while precision fermentation is still developing [2] Competitive Landscape - Innovative startups are leading in technological advancements, while traditional companies are leveraging their financial and operational synergies to enter the market [3][4] - Major players like Budweiser and Angel Yeast are building large-scale production capacities, significantly outpacing smaller startups [3] Future Outlook - Technology is the core competitive factor across all stages of microbial protein development, influencing product development, regulatory approval, and cost efficiency [4] - The ability to scale production and reduce costs will favor early entrants in the market, enhancing their competitive position [4]

Group 1 - Tianqi Materials reported a revenue of 7.03 billion yuan for the first half of 2025, a year-on-year increase of 28.97% [2][3] - The net profit attributable to shareholders was 268 million yuan, up 12.79% year-on-year, while the net profit excluding non-recurring items was 235 million yuan, reflecting a growth of 26.01% [2][3] - Basic earnings per share increased to 0.14 yuan, a rise of 16.67% compared to the previous year [3] Group 2 - New Zobang achieved a revenue of 4.25 billion yuan, marking an 18.58% increase year-on-year, with a net profit of 484 million yuan, up 16.36% [5][6] - The net profit excluding non-recurring items was 466 million yuan, showing an 8.16% increase [5][6] - Basic earnings per share rose to 0.64 yuan, a 16.36% increase from the previous year [6] Group 3 - Ruida New Materials reported a revenue of 975 million yuan, a decline of 7.36% year-on-year, with a net profit of 82 million yuan, down 24.19% [7][8] - The net profit excluding non-recurring items was 79 million yuan, reflecting a decrease of 27.57% [7][8] - The company experienced a negative cash flow from operating activities of 80 million yuan [8] Group 4 - Yongtai Technology reported a revenue of 2.61 billion yuan, a year-on-year increase of 21.97%, with a net profit of 59 million yuan, up 56.17% [10][11] - The net profit excluding non-recurring items was 23 million yuan, down 15.08% [10][11] - Basic earnings per share increased to 0.06 yuan, a 50% rise compared to the previous year [11] Group 5 - Shida Shenghua reported a revenue of 3.01 billion yuan, a year-on-year increase of 14.87%, but a net loss of 56 million yuan, a decline of 248.03% [13][14] - The net loss excluding non-recurring items was 57 million yuan, down 282.11% [13][14] - The company reported a positive cash flow from operating activities of 90 million yuan [14] Group 6 - Duofluor reported a revenue of 4.33 billion yuan, a decline of 6.65% year-on-year, with a net profit of 51 million yuan, down 16.55% [15][16] - The net profit excluding non-recurring items was a loss of 4.81 million yuan, reflecting a decrease of 179.71% [15][16] - Basic earnings per share decreased to 0.0441 yuan, down 15.19% [16] Group 7 - Tianji Co. reported a revenue of 1.07 billion yuan, a year-on-year increase of 19.16%, but a net loss of 52 million yuan, an improvement of 59% compared to the previous year [18][19] - The net loss excluding non-recurring items was 56 million yuan, down 56.04% [18][19] - The company reported a negative cash flow from operating activities of 131 million yuan [19] Group 8 - Huayu Pharmaceutical reported a revenue of 882 million yuan, a decline of 1.73% year-on-year, with a net loss of 5.81 million yuan, a decline of 116.23% [21][22] - The net loss excluding non-recurring items was 21.59 million yuan, down 247.06% [21][22] - The company reported a negative cash flow from operating activities of 169 million yuan [22] Group 9 - Haike New Source reported a revenue of 2.32 billion yuan, a year-on-year increase of 27.92%, but a net loss of 42 million yuan, an improvement of 61.21% [23][24] - The net loss excluding non-recurring items was 49 million yuan, down 56.57% [23][24] - The company reported a negative cash flow from operating activities of 248 million yuan [24] Group 10 - Hualu Hengsheng reported a revenue of 15.76 billion yuan, a decline of 7.14% year-on-year, with a net profit of 1.57 billion yuan, down 29.47% [26][27] - The net profit excluding non-recurring items was 1.56 billion yuan, reflecting a decrease of 30.29% [26][27] - Basic earnings per share decreased to 0.739 yuan, down 29.48% [27] Group 11 - Huasheng Lithium reported a revenue of 349 million yuan, a year-on-year increase of 72.02%, but a net loss of 72 million yuan [29] - The net profit excluding non-recurring items was a loss of 78 million yuan [29] - The company reported a negative cash flow from operating activities of 183 million yuan [29] Group 12 - Fuxiang Pharmaceutical reported a revenue of 514 million yuan, a decline of 24.58% year-on-year, with a net loss of 6.91 million yuan, an increase of 69.23% [31][32] - The net loss excluding non-recurring items was 32 million yuan, reflecting a decrease of 34.91% [31][32] - The company reported a negative cash flow from operating activities of 10 million yuan [32] Group 13 - Furui Co. reported a revenue of 2.59 billion yuan, a decline of 3.03% year-on-year, but a net profit of 246 million yuan, an increase of 10.92% [34][35] - The net profit excluding non-recurring items was 250 million yuan, reflecting a growth of 15.71% [34][35] - The company reported a positive cash flow from operating activities of 447 million yuan [35] Group 14 - The overall performance of companies in the electrolyte and raw material sector has been poor, with most companies reporting unsatisfactory financial results [36] - Except for Tianqi and New Zobang, other companies in the electrolyte sector have shown average performance [36] - Companies in the lithium hexafluorophosphate sector have reported significant losses, with net profits declining across the board [36]