儿药龙头葫芦娃药业及董事长被立案，股价一字跌停！多款核心单品销量下滑

Core Viewpoint - ST HuLuWa Pharmaceutical (605199.SH) is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, following significant corrections to its financial statements, including a nearly 90% reduction in net profit for 2023 [1][3][4]. Financial Performance - The company's 2023 revenue was adjusted from 1.905 billion yuan to 1.795 billion yuan, and the net profit was revised down from 106 million yuan to 10.85 million yuan, a decrease of 89.81% [4]. - For 2024, the company expects a revenue of 1.414 billion yuan, a year-on-year decline of 21.26%, and a net loss of 274 million yuan, a staggering year-on-year drop of 2629.23% [9][10]. Sales and Product Performance - Sales of key products have significantly declined, with core items like "Chuanlian Ning Capsules" and "Fangban Langen Granules" seeing sales drop by 59.10% and 44.10% respectively [10][12]. - The company reported a 33.88% year-on-year decline in total revenue for the first three quarters of 2025, amounting to 683 million yuan, with a net loss of 11.21 million yuan [12]. Management and Governance Issues - The company has faced multiple management changes, including the resignation of its chairman Liu Jingping from the general manager position and subsequent reappointment [8]. - The CSRC's investigation follows previous reprimands from the Shanghai Stock Exchange for failing to disclose performance losses in a timely manner [1][4][7].