调研速递|特一药业接受多家投资者调研，营销变革与业绩增长成关注焦点

Core Viewpoint - The company held an online investor reception day to address investor concerns regarding performance, marketing reforms, and R&D plans, emphasizing its commitment to enhancing company value and market communication [1] Group 1: Investor Relations Activity - The investor reception day took place on September 19, 2025, via the "Panorama Roadshow" website, with participation from various investors [1] - Key company representatives included Chairman and General Manager Xu Ronghuang, Financial Director and Vice General Manager Chen Xiliang, and Board Secretary Xu Zilan [1] Group 2: Financial Performance and Marketing Strategy - The company acknowledged that its stock price is influenced by various factors, including short-sellers, and is focused on enhancing market value through marketing reforms, channel optimization, brand building, and R&D innovation [1] - Sales expenses increased by 172 million yuan in the first half of 2025 for brand building, which temporarily pressured profits but improved brand recognition [1] - The core product, cough relief tablets, saw significant growth on e-commerce platforms, with a 260% increase on Alibaba and a 652% increase on JD.com [1] Group 3: Sales and Marketing Reforms - Sales in the second quarter were affected by seasonal fluctuations and marketing strategy adjustments, leading to a decrease in volume [1] - The company reported a sales expense of 69.08 million yuan in Q2 2025, up from 34.19 million yuan in the same period last year and 45.08 million yuan in 2023 [1] - The marketing organization has undergone structural upgrades, resulting in a net increase of over 100 frontline sales personnel [1] Group 4: R&D and Future Plans - The company is pursuing dual-track R&D in traditional Chinese medicine and chemical drugs, focusing on existing product development and innovative drug research [1] - There are currently no plans to engage in stablecoin or virtual currency business in Hong Kong [1] Group 5: Market Communication and Transparency - The company is actively communicating with investors and enhancing information disclosure transparency as part of its market value management initiatives [1]