Core Viewpoint - Enwei Pharmaceutical has experienced a decline in stock price, with a cumulative drop of 5.48% over three consecutive days, currently trading at 33.97 CNY per share, with a market capitalization of 3.495 billion CNY [1] Company Overview - Enwei Pharmaceutical Co., Ltd. was established on May 19, 2005, and went public on September 21, 2022. The company is based in Chengdu, Sichuan Province, and focuses on the research, production, and sales of traditional Chinese medicine and chemical drugs, particularly in gynecology, pediatrics, and respiratory system medications [1] - The revenue composition of Enwei Pharmaceutical is as follows: gynecology products 46.21%, others 31.74%, cold medications 14.71%, pediatrics 6.90%, and other supplementary products 0.44% [1] Shareholder Insights - Among the top ten circulating shareholders of Enwei Pharmaceutical, the Rongtong Health Industry Flexible Allocation Mixed A/B fund (000727) reduced its holdings by 470,600 shares in the second quarter, now holding 529,400 shares, which represents 1.61% of the circulating shares. The estimated floating loss today is approximately 529,400 CNY, with a total floating loss of 1,042,900 CNY over the three-day decline [2] - The Rongtong Health Industry Flexible Allocation Mixed A/B fund was established on December 25, 2014, with a current size of 2.074 billion CNY. Year-to-date returns are 21.65%, ranking 3,497 out of 8,180 in its category, while the one-year return is 44.14%, ranking 3,083 out of 7,967 [2]

证券代码：301331 证券简称：恩威医药 公告编号：2025-043 恩威医药股份有限公司 关于公司高级管理人员股份减持完成的公告 公司高级管理人员陈磊保证向本公司提供的信息内容真实、准确、 完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供 的信息一致。 恩威医药股份有限公司（以下简称"公司"）于 2025 年 7 月 31 日披露了《关 于公司高级管理人员减持股份的预披露公告》（公告编号：2025-032）。持有公 司股份 65,118 股（占本公司总股本比例 0.0633%，占剔除公司回购专用账户股份 后的总股本比例的 0.0644%）的副总裁陈磊先生计划在本公告披露之日起 15 个 交易日后的 3 个月内以集中竞价方式减持公司股份不超过 16,279 股（占本公司 总股本比例 0.0158%，占剔除公司回购专用账户股份后的总股本比例的 0.0161%）。 近日，公司收到副总裁陈磊先生提交的《关于股份减持计划完成的告知函》，现 将有关情况公告如下： | 其中：无限 售条件股份 | 16,280 | 0.0158 | % | 80 | 0.0000 | % ...

Core Insights - Enwei Pharmaceutical reported a significant increase in revenue and net profit for the first half of the year, with total revenue reaching 449 million yuan, a year-on-year increase of 15.73%, and net profit attributable to shareholders reaching 38.34 million yuan, a substantial growth of 113.8% [1][2] Group 1: Financial Performance - The company's revenue from its main product, "Jieryin Wash," continues to dominate the gynecological traditional Chinese medicine market, maintaining the largest market share since 2025, indicating strong brand recognition and influence [1] - Despite facing significant cost pressures, the gross margin for the gynecological segment remained high at 58.31%, with double-digit revenue growth year-on-year, showcasing strong pricing power and market control [1] Group 2: Business Expansion and R&D - Other business segments showed remarkable growth, with revenue increasing by 48.78% and a gross margin of 45.69%, becoming a new driving force for the company's overall growth [2] - The company maintains a high level of investment in R&D, focusing on the consistency evaluation of related drugs and advancing products towards high quality and standards, enhancing market recognition [2] - Enwei Pharmaceutical currently holds 21 exclusive products, demonstrating strong product differentiation capabilities [2] Group 3: Future Outlook - The company is poised to benefit from the high-quality development policies in the traditional Chinese medicine industry and the growing demand driven by the "Healthy China" initiative, presenting new development opportunities [2]

Core Insights - Enwei Pharmaceutical (301331) reported a total revenue of 449 million yuan for the first half of 2025, marking a year-on-year increase of 15.73% and a net profit attributable to shareholders of 38.34 million yuan, up 113.8% from the previous year [1] - The company's gross profit margin decreased to 49.1%, down 5.35% year-on-year, while the net profit margin increased significantly to 8.54%, up 84.74% [1] - Accounts receivable rose significantly, with a year-on-year increase of 48.13%, indicating potential liquidity concerns [1][3] Financial Performance - Total revenue for 2025 was 449 million yuan, compared to 388 million yuan in 2024, reflecting a growth of 15.73% [1] - Net profit attributable to shareholders reached 38.34 million yuan, a substantial increase of 113.8% from 17.93 million yuan in 2024 [1] - The company's operating cash flow per share decreased to 0.73 yuan, down 16.71% year-on-year [1] Cost and Efficiency Metrics - The total of selling, administrative, and financial expenses was 172 million yuan, accounting for 38.22% of revenue, a decrease of 12.2% compared to the previous year [1] - The return on invested capital (ROIC) for the previous year was 3.04%, indicating weak capital returns, while the historical median ROIC since listing is 17.36% [2] - The net profit margin improved to 8.54%, up from 4.62% in the previous year, suggesting better cost management [1][2] Business Model and Market Dynamics - The company's performance is primarily driven by marketing efforts, necessitating a deeper analysis of the underlying factors [3] - In 2024, the company experienced a decline in offline sales revenue, attributed to high inventory levels of cold medications from 2023 that needed to be cleared [3] - The market demand for the company's core product, Huoxiang Zhengqi Decoction, fell short of expectations due to delayed seasonal demand and other factors [3]

Market Overview - The Chinese medicine sector experienced a decline of 0.39% on August 26, with Enwei Pharmaceutical leading the drop [1] - The Shanghai Composite Index closed at 3868.38, down 0.39%, while the Shenzhen Component Index closed at 12473.17, up 0.26% [1] Stock Performance - Notable gainers in the Chinese medicine sector included: - ST Xiangxue: Closed at 11.74, up 12.45% with a trading volume of 532,400 shares and a turnover of 597 million yuan [1] - Wanbangde: Closed at 8.71, up 9.97% with a trading volume of 474,900 shares and a turnover of 397 million yuan [1] - Tailong Pharmaceutical: Closed at 7.24, up 5.39% with a trading volume of 541,000 shares and a turnover of 385 million yuan [1] - Conversely, Enwei Pharmaceutical saw a decline of 4.76%, closing at 37.22 with a trading volume of 32,400 shares and a turnover of 123 million yuan [2] Capital Flow - The Chinese medicine sector saw a net outflow of 1.019 billion yuan from institutional investors, while retail investors contributed a net inflow of 764 million yuan [2] - Specific stock capital flows included: - Wanbangde: Net inflow from institutional investors of 11.5 million yuan, but net outflows from retail investors [3] - Yiling Pharmaceutical: Net inflow from institutional investors of 71.17 million yuan [3] - Tianshili: Net inflow from institutional investors of 48.64 million yuan [3]

Group 1 - Enwei Pharmaceutical (301331.SZ) released its semi-annual report for 2025, indicating that as of August 25, 2025, 11 institutional investors held a total of 73.5785 million shares, accounting for 71.51% of the total share capital [1] - The top ten institutional investors collectively held 71.13% of the shares, with a slight decrease of 0.22 percentage points compared to the previous quarter [1] - One public fund, Rongtong Health Industry Flexible Allocation Mixed A/B, reported a decrease in holdings by 0.46% compared to the previous quarter [1] Group 2 - One new foreign institutional investor disclosed during this period is China International Capital Corporation Hong Kong Asset Management Limited - CICCFT10(Q) [2]

Core Viewpoint - Enwei Pharmaceutical Co., Ltd. held its seventh meeting of the third board of directors on August 25, 2025, where several important resolutions were passed, indicating the company's commitment to transparency and compliance with regulations [1][2][3]. Summary by Relevant Sections Meeting Details - The meeting was conducted both in-person and via communication, with all 8 directors present, and was chaired by Chairman Xue Yongjiang, complying with the Company Law and Articles of Association [1]. Resolutions Passed - The 2025 Semi-Annual Report and its summary were approved, confirming that the report adheres to accounting standards and accurately reflects the company's operational status for the first half of 2025, with a unanimous vote of 8 in favor [2]. - A special report on the storage and use of raised funds was approved, indicating that the company has complied with regulations regarding the management of these funds, also receiving a unanimous vote of 8 in favor [2]. - The proposal for the extension of certain fundraising investment projects was approved, deemed a prudent decision aligned with the company's long-term development strategy, again with a unanimous vote of 8 in favor [2]. Future Implications - The resolutions from this meeting are expected to significantly impact the future development of Enwei Pharmaceutical, prompting investors to closely monitor the company's subsequent activities [3].

Core Insights - Enwei Pharmaceutical (301331.SZ) reported a revenue of 449 million yuan for the first half of 2025, representing a year-on-year growth of 15.73% [1] - The net profit attributable to shareholders reached 38.34 million yuan, showing a significant year-on-year increase of 113.80% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 35.28 million yuan, reflecting a year-on-year growth of 132.47% [1] - The basic earnings per share stood at 0.3845 yuan [1]

证券代码：301331 证券简称：恩威医药 公告编号：2025-035 恩威医药股份有限公司 第三届董事会第七次会议决议公告 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、董事会会议召开情况 恩威医药股份有限公司（以下简称"公司"）第三届董事会第七次会议于 2025 年 8 月 25 日以现场及通讯方式召开。本次会议通知于 2025 年 8 月 15 日以通讯 方式发出，本次会议应出席董事 8 人，实际出席董事 8 人，会议由董事长薛永江 先生主持。本次会议的召开符合《公司法》和《公司章程》的有关规定，所做决 议合法有效。 二、董事会会议审议情况 1、审议通过《2025 年半年度报告及其摘要》 同意《恩威医药股份有限公司 2025 年半年度报告及其摘要》，报告编制符 合企业会计准则及相关法律、法规、规章及规范性文件的要求，真实、准确、完 整地反映了公司 2025 年半年度经营状况，不存在虚假记载、误导性陈述和重大 遗漏。 则》《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》以及《募集资金使用管理办法》等规定和要求，存放和使用募 ...

中信证券股份有限公司 关于恩威医药股份有限公司 部分募集资金投资项目延期的核查意见 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）担任恩威医 药股份有限公司（以下简称"恩威医药"、"上市公司"或"公司"）首次公开发 行股票并在创业板上市的保荐人，根据《证券发行上市保荐业务管理办法》《深 圳证券交易所创业板股票上市规则》《上市公司募集资金监管规则》《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》《深圳证券交 易所上市公司自律监管指引第 13 号——保荐业务》等有关规定，对恩威医药部 分募集资金投资项目延期的事项进行了审慎的核查，具体情况如下： 一、本次募集资金的基本情况 经中国证券监督管理委员会《关于同意恩威医药股份有限公司首次公开发行 股票注册的批复》（证监许可[2022]1786 号）同意注册，并经深圳证券交易所同 意，公司首次向社会公开发行人民币普通股（A 股）股票 17,540,000 股，每股面 值 1.00 元，发行价格为人民币 29.80 元/股。本次募集资金总额为人民币 522,692,000.00 元，扣除发行费用（不含增值税）人民币 79,741,650 ...