华神科技：剥离资产“轻装快跑”，技术深耕“蓄势待发

Core Insights - The Chinese traditional medicine industry is experiencing increasing differentiation driven by deepening centralized procurement policies and industrial upgrades, with Huasheng Technology making strategic adjustments to optimize resource allocation [1] Group 1: Strategic "Subtraction" to Release Growth Momentum - Huasheng Technology is focusing on its core business by strategically divesting non-core assets, including the sale of a 5.4019% stake in Shanghai Lingkai Technology for 200 million yuan, which has already generated 184.4 million yuan in cash [2] - The company is also progressing with the planned divestiture of its steel structure business, reflecting management's commitment to concentrate resources on the more promising pharmaceutical sector [2] - Management has indicated a continued focus on reducing investments in non-core businesses, reinforcing its strategic emphasis on the traditional Chinese medicine and health industry [2] Group 2: Technological Foundations and Brand "Addition" to Build Competitive Moat - Huasheng Technology has established a significant intellectual property barrier, with 205 patents applied for or acquired, including 171 authorized patents and 4 international invention patents as of June 2025 [3] - The company has pioneered the use of fingerprint mapping technology for quality control in its Sanqi Tongshu capsules, addressing industry challenges related to traditional Chinese medicine's quality and efficacy [3] - The Sanqi Saponins raw material was recognized as the first traditional Chinese medicine extract standard in the 2018 German Pharmacopoeia, marking a significant achievement in international recognition of product quality [3] Group 3: Brand Development and Market Positioning - The approval of Sanqi Tongshu capsules as the first traditional Chinese medicine to receive secondary protection status by the National Medical Products Administration strengthens its market position [4] - The successful completion of ISO certifications (ISO9001, ISO14001, ISO45001) by June 2025 indicates an upgrade in standardized management levels, setting a new quality benchmark in the industry [4] - The funds recovered from divesting non-core assets will support Huasheng Technology's research and market expansion, while the orderly divestiture of the steel structure business optimizes overall resource allocation [4]