| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 301408 | 华人健康 | 15.11 | -1.76% | 17.96万 | 2.71亿 | | 300937 | 药易购 | 30.05 | -1.60% | 4.53万 | 1.36亿 | | 301015 | 百洋医药 | 25.98 | -1.55% | 29.18万 | 7.77亿 | | 600272 | 开开实业 | 13.87 | -1.42% | 6.94万 | 9642.32万 | | 301126 | 达嘉维康 | 13.25 | -1.41% | 14.39万 | 1.91亿 | | 603122 | 合富中国 | 7.23 | -1.36% | 6.01万 | 4356.44万 | | 002589 | 瑞康医药 | 3.05 | -1.29% | 43.86万 | 1.34亿 | | 301017 | 款玉平民 | 13.20 | -0.98% | 4.94万 | 6532.05万 | | 605266 | 健之佳 ...

据证券之星公开数据整理，近期药易购（300937）发布2025年中报。根据财报显示，药易购净利润减 162.95%。截至本报告期末，公司营业总收入21.57亿元，同比下降3.06%，归母净利润-761.44万元，同 比下降162.95%。按单季度数据看，第二季度营业总收入10.2亿元，同比上升3.2%，第二季度归母净利 润-1179.81万元，同比下降511.05%。 本次财报公布的各项数据指标表现不尽如人意。其中，毛利率10.82%，同比增29.78%，净利 率-0.42%，同比减193.59%，销售费用、管理费用、财务费用总计2.03亿元，三费占营收比9.42%，同比 增41.11%，每股净资产8.7元，同比减1.52%，每股经营性现金流-0.08元，同比减315.44%，每股收 益-0.08元，同比减161.54% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 22.25 乙 | 21.57亿 | -3.06% | | 归母净利润(元) | 1209.57万 | -761.44万 | -162.95% | ...

Core Insights - Sichuan Hezhong Yaoyigou Pharmaceutical Co., Ltd. (referred to as "Yaoyigou") reported a decline in both revenue and net profit in the first half of 2025 amid pressures on traditional business operations [1] - The company plans to focus on multiple business segments including new retail in pharmaceuticals, B2B e-commerce, supply chain, and digital intelligence empowerment to enhance overall performance [1] - Yaoyigou's business strategy is centered around full industry chain coverage, establishing a three-dimensional system of "upstream control, midstream empowerment, and downstream reach" [1] - The company aims to strengthen ecological collaboration through digital technology and capital tools, with industry experts optimistic about its future development based on clear strategic planning and gradual implementation [1]

Core Viewpoint - The company reported its first net profit loss since its IPO in 2021, with a significant decline in revenue and net profit in the first half of 2025 compared to the previous year [1][2]. Group 1: Financial Performance - In the first half of 2025, the company achieved revenue of 2.157 billion yuan, a decrease of 3.06% year-on-year, and a net profit loss of 7.61 million yuan, a decline of 163% [1]. - The digital pharmaceutical distribution business generated revenue of 1.920 billion yuan, down 8.27% from 2.093 billion yuan in the first half of 2024, contributing to the overall revenue decline [2]. - The company's sales expenses reached 164 million yuan in the first half of 2025, an increase of approximately 46% year-on-year, further impacting performance [2]. Group 2: Business Strategy and Structure - The company focuses on the outpatient market for pharmaceutical distribution services and has diversified its business into various sectors, including new retail, B2B e-commerce, supply chain, and internet healthcare [1]. - The company has established a media matrix and a database of over 10,000 doctors in Sichuan, supporting its "big health ecosystem" strategy [2]. - The company has seen a decline in revenue growth rates since its IPO, with year-on-year growth rates of 21.88%, 16.72%, and 11.62% from 2021 to 2023 [2]. Group 3: Leadership Changes - The founder and chairman, Li Yanfei, has stepped down to a secondary role, with Chen Shunjun taking over as chairman and continuing as CEO [3]. - Chen Shunjun has extensive experience in IT, artificial intelligence, and big data, which may influence the company's strategic direction [3]. - The effectiveness of the leadership change in reversing the company's declining performance remains to be seen [4].

Core Viewpoint - The financial performance of YaoYigou (药易购) for the first half of 2025 has significantly underperformed market expectations, marking its first loss since going public, with a notable shift from profit to loss in its financial results [1][2]. Financial Performance Summary - YaoYigou reported a revenue of 2.157 billion yuan for the first half of 2025, a year-on-year decline of 3.06% [2][6]. - The company experienced a net loss attributable to shareholders of 761.43 million yuan, representing a year-on-year decrease of 162.95% [2][6]. - The net loss for the second quarter exceeded 1,179 million yuan, contrasting with a profit of 418 million yuan in the first quarter, indicating significant operational pressure [2][3]. Expense Analysis - Despite the revenue decline, the company's selling expenses rose to 1.641 billion yuan, an increase of 46.25% year-on-year, highlighting a mismatch between increased marketing investment and revenue generation [2][3][6]. - Management expenses increased by 6.94% to 344.77 million yuan, attributed to expanded business operations leading to higher employee compensation [6]. - Financial expenses rose by 12.72% to 4.624 million yuan, primarily due to a decrease in deposit interest income [6]. Industry Position and Future Outlook - YaoYigou has been facing intensified competition in the pharmaceutical distribution industry and is exploring new growth avenues by expanding its business model to include a comprehensive health ecosystem [5]. - The company aims to build a supply chain and digital technology-driven ecosystem covering research, production, commerce, retail, and end-user channels [5]. - Market sentiment remains cautiously optimistic regarding the company's ability to leverage its expanded industry chain for profit recovery, as evidenced by fluctuating stock prices [5].

药易购2025半年报 ...

公募基金方面本期较上一季度持股减少的公募基金共计1个，即汇添富中证互联网医疗指数(LOF)A，持 股减少占比达0.33%。 2025年8月12日，药易购(300937.SZ)发布2025年半年度报告。截至2025年8月11日，共有6个机构投资者 披露持有药易购A股股份，合计持股量达818.87万股，占药易购总股本的8.56%。其中，机构投资者包 括海南合森投资中心(有限合伙)、成都市合齐投资管理中心(有限合伙)、成都博源新航创业投资基金合 伙企业(有限合伙)、四川海特航空创业投资基金合伙企业(有限合伙)、广发证券股份有限公司、中国工 商银行股份有限公司-汇添富中证互联网医疗主题指数型发起式证券投资基金(LOF)，机构投资者合计持 股比例达8.56%。相较于上一季度，机构持股比例合计下跌了2.99个百分点。 ...

四川合纵药易购医药股份有限公司(证券代码：300937)于2025年8月11日发布半年报。报告显示，公司 当期实现营业收入 21.57 亿元。虽较上年同期略有波动，但结合市场情况与行业综合来看符合市场预 期。本期报告中显示药易购长期价值生态版图已十分清晰，核心业务结构性优化与创新赛道突破为中长 期发展奠定坚实基础。 下游：全域触达激活 C 端价值 线上，重庆药大麦 2025 年上半年收入 1.5 亿元，达 2024 年全年的 77.73%，"伟哥" 系列产品在电商平 台处方药类目 GMV 排名第一;玉鑫中医世家作为拼多多 "十大国民健康品牌"，中成药占比超 80%，复 购率达 68%，全域粉丝超 100 万。线下，通过控股 / 参股 451 家连锁药店(含 1474 家加盟店)，结合 O2O 无人智能药仓，在成都实现 "9 分钟达" 即时配送，O2O 订单量增长 67%。 产业链上下游布局、数智化生态构建、C 端全域触达等核心战略领域的投入持续加码，以全渠道供应链 为核心，以数智创新技术为加速，通过人才与资本加速发展的战略路径逐渐明朗，"医药+科技"、"平台 +生态"、"自营+赋能"的核心定位正加速成型。短期 ...

每经AI快讯，药易购（SZ 300937，收盘价：31.62元）8月11日晚间发布公告称，公司第四届第二次董 事会会议于2025年8月10日以通讯表决方式召开。会议审议了《关于公司<2025年半年度报告>的议案》 等文件。 截至发稿，药易购市值为30亿元。 每经头条（nbdtoutiao）——人形机器人撕掉"花瓶"标签还要多久？亿元大单"破冰"，商业化元年终于 来了！ 2024年1至12月份，药易购的营业收入构成为：医药分销(协议分销+市场比价)占比53.23%，医药经销 (工业直采)占比43.53%，医药零售占比1.56%，医药工业自产及OEM业务占比0.92%，大健康产品及技 术和服务收入占比0.76%。 （记者 王晓波） ...

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。 四川合纵药易购医药股份有限公司（以下简称"公司"或"本公司"）根据 《深圳证券交易所上市公司自律监管指引第2号——创业板上市公司规范运作》 《企业会计准则》以及公司相关会计政策的规定，计提了信用减值损失及资产减 值损失、终止确认部分递延所得税资产，现将具体情况公告如下： 一、本次计提减值准备原因和情况概述 根据《企业会计准则》等相关规定的要求，为真实准确地反映公司截至2025 年6月30日的财务状况和经营成果，公司对截至2025年6月30日的应收账款、应收 票据、其他应收款、商誉、存货等各类资产进行了减值测试，对可能存在减值迹 象的资产计提减值准备。2025年上半年，公司计提减值损失共计19,070,523.37元， 其中信用减值损失12,660,591.75元，资产减值损失6,409,931.62元。 本次计提减值准备的范围和总金额如下： 股票代码：300937 股票简称：药易购 公告编号：2025-040 四川合纵药易购医药股份有限公司 关于公司 2025 年半年度计提减值准备及 终止确认部分递延所得税资产的公 ...