南新制药遭立案调查，业绩大幅亏损仍待考验

Group 1 - The core issue is that Nanjing Pharmaceutical is under investigation by the China Securities Regulatory Commission for violations in annual report disclosures, highlighting significant flaws in the company's financial compliance [1][4] - The company has faced repeated accounting errors, including improper handling of sales returns and insufficient conditions for revenue recognition, leading to restatements of financial data [1][4] - The investigation represents a critical examination of the company's integrity and governance, emphasizing the importance for affected investors to protect their rights within the legal framework [1][4] Group 2 - Nanjing Pharmaceutical has announced a projected annual revenue of 120 million to 150 million yuan for 2025, a decline of approximately 43% to 54% compared to the previous year's revenue of 263 million yuan [2][4] - The company anticipates a net loss of 120 million to 160 million yuan, although this represents a reduction from the previous year's loss of 357 million yuan, indicating ongoing challenges in achieving profitability [2][4] - Factors contributing to the performance decline include intensified competition in the pharmaceutical industry and reduced demand for core products due to a decrease in flu cases, alongside a cautious approach to asset and credit impairment losses [2][5]