最高5亿元，“中药茅”片仔癀获控股股东首次增持

Core Viewpoint - The controlling shareholder of Pian Zai Huang, Jiulongjiang Group, plans to increase its stake in the company by investing between 300 million and 500 million yuan from February 1 to July 31, marking the first increase since the company's listing [1] Group 1: Shareholder Actions - Jiulongjiang Group currently holds approximately 308 million shares of Pian Zai Huang, accounting for 50.97% of the total share capital [1] - The increase in shareholding is based on Jiulongjiang Group's confidence in the company's long-term investment value and sustainable development [1] Group 2: Stock Performance - Pian Zai Huang's stock price has been in a continuous decline, falling for nearly seven consecutive trading days, with a closing price of 156.10 yuan per share on January 28, resulting in a market capitalization of 94.18 billion yuan [1] - The stock has dropped over 20% in 2025, significantly underperforming the market [1] Group 3: Financial Performance - For the first three quarters of 2025, Pian Zai Huang reported revenue of 7.472 billion yuan, a year-on-year decrease of 11.93%, and a net profit of 2.129 billion yuan, down 20.74%, marking the first negative growth in nearly a decade [1] - The overall gross margin of the company is 38.9%, a decline of 6.5 percentage points year-on-year [1] Group 4: Market Conditions and Future Prospects - The decline in revenue growth and gross margin is attributed to the impact of the consumption environment and rising costs of natural cow bile [2] - However, the price of natural cow bile has shown signs of recovery, dropping from a peak of 1.65 million yuan per kilogram to 800,000 yuan per kilogram as of January 27 [2] - There are indications of a recovery in consumer demand, with online prices for core products showing a noticeable increase compared to the previous month [2] - Pian Zai Huang is also increasing its investment in pharmaceutical research and development, with its self-developed innovative drug PZH2113 capsule having completed the first subject enrollment in Phase I clinical trials [2]