陇神戎发前三季度扣非净利润增长31.14%，核心产品驱动经营质效提升

Core Viewpoint - Longshen Rongfa (300534) demonstrated robust operational performance and growth momentum in the first three quarters of 2025, achieving a revenue of 647 million yuan and a net profit attributable to shareholders of 27.03 million yuan, representing a year-on-year increase of 8.11% [1] Group 1: Financial Performance - The company reported a net profit of 27.03 million yuan, with a year-on-year growth of 8.11%, while the net profit after deducting non-recurring gains and losses reached 28.71 million yuan, marking a significant increase of 31.14% [1] - The overall recovery of the traditional Chinese medicine industry has positively impacted the company's performance, supported by the strengthening competitiveness of its core products and continuous deepening of its industrial layout [1] Group 2: Product Performance - The company's two exclusive products, Yuanhu Zhitong Droplets and Xuanfei Zhiso Mixture, have been key drivers of growth, with Yuanhu Zhitong Droplets ranking 15th in the "Top 20 Brands of Traditional Chinese Medicine Pills in Public Medical Institutions" for H1 2024 and 9th in the "Top 20 Gastrointestinal Products" for Q1 2025 [2] - Xuanfei Zhiso Mixture has solidified its position in the cough relief product segment, ranking 6th in the "Top 20 Brands of Cough and Phlegm Relief Traditional Chinese Medicine" for 2024 and 7th in the "Top 20 Innovative Drug Sales Enterprises (Traditional Chinese Medicine)" at the 90th National Pharmaceutical Trade Fair in 2025 [2] Group 3: Research and Development - The company views innovation as a core driver of sustainable development, continuing to advance secondary development of its main products, including real-world studies for Xuanfei Zhiso Mixture and Yuanhu Zhitong Droplets [3] - The subsidiary, Puan Pharmaceutical, has received clinical trial approval for the modified new drug Bupropion Oral Film and is progressing with the construction and registration of a production line for blood dialysis concentrate [3] - The company is also expanding its health product portfolio, with new offerings such as plant-based beverages and herbal extracts gaining consumer attention and positive feedback [3] Group 4: Future Outlook - Looking ahead to the fourth quarter, the company plans to maintain its focus on traditional Chinese medicine, enhancing market development and research efforts to promote sustainable growth [3]