东阿阿胶上半年净利同比增长10.74% 中期分红超8亿元

Core Insights - Dong'e Ejiao reported a revenue of 3.051 billion yuan for the first half of 2025, representing a year-on-year growth of 11.02% [1] - The net profit reached 818 million yuan, up 10.74% year-on-year, while the net profit after deducting non-recurring items was 788 million yuan, increasing by 12.58% [1] - The company continues to optimize its financial structure and operational efficiency, focusing on high-margin product categories and reducing donkey-hide inventory [1][2] Financial Performance - The net cash flow from operating activities was 965 million yuan, a growth of 4.70%, with the second quarter generating 1.27 billion yuan [1] - Dong'e Ejiao plans to distribute a cash dividend of 12.69 yuan per 10 shares, totaling approximately 817 million yuan, which accounts for 99.94% of the net profit attributable to shareholders for the first half of 2025 [1] Market Position - As of the first quarter of 2025, Dong'e Ejiao held a market share of 67.3% in the donkey-hide gelatin block category and 31.9% in the compound donkey-hide gelatin oral liquid market [1] - The revenue from donkey-hide gelatin and related products was 2.845 billion yuan, reflecting a year-on-year increase of 11.50% [2] Strategic Initiatives - The company is enhancing its brand through high-end and youth-oriented strategies, with stable sales performance in the OTC market [2] - Dong'e Ejiao is advancing its digital transformation and AI applications, achieving smart production processes and a raw material loss rate of 0.8% in 2024 [2] Collaboration and Investment - China Resources Group is empowering Dong'e Ejiao through capital collaboration and industry chain integration, including a 1 billion yuan pharmaceutical investment fund [3] - Dong'e Ejiao has engaged in strategic cooperation with China Resources Longde to explore new paths for traditional Chinese medicine in international markets [3] Corporate Governance - The implementation of the first phase of the stock incentive plan and the mid-term dividend distribution is enhancing corporate governance and talent cohesion [4] - The company is transitioning from a traditional manufacturer to a "smart health service provider," aiming to build its own health ecosystem [4]