JILIN AODONG(SZ:000623) GF SECURITIES·2025-07-17 14:56Report Basic Information - Reported Company: Jilin Aodong [16] - Industry: Chemical Pharmaceuticals [2] - Research Date: July 17, 2025 [16] - Company Representatives: Wang Zhenyu (Director, Deputy General Manager, Secretary of the Board), Zhao Renhe (Director of the Board Office, Securities Affairs Representative) [16] Participating Institutions - "Innovation Sailing, King's Moment - The 20th Pharmaceutical Hundred Listed Companies Exchange Meeting (Beijing Station)" [17] - Guosheng Securities (Representative: Zhang Yu) [17] - Beijing Hongdao (Representative: Tang Yulin) [17] - Yimin Fund (Representative: Gui Guan) [17] - CITIC Securities Asset Management (Representative: Peng Kang) [17] - Ginkgo Capital (Representative: Zhang Haijun) [17] Institution Proportion - Others: 33% [21] - Securities Companies: 17% [21] - Investment Companies: 17% [21] - Fund Management Companies: 17% [21] - Asset Management Companies: 17% [21] Core Business Highlights Business Revenue Structure in 2024 - Total revenue from three major business segments (traditional Chinese medicine, chemical drugs, and chain pharmacy wholesale and retail) reached 2.273761 billion yuan, with traditional Chinese medicine contributing 1.6055413 billion yuan (61.50%), chemical drugs 276.8538 million yuan (10.61%), and chain pharmacy business 391.366 million yuan (14.99%) [22] - Revenue from the health - care business was 212.1299 million yuan, accounting for 8.13% of the total revenue [22] Key Product Analysis - An Shen Bu Nao Ye: With a large target audience due to the increasing number of insomnia sufferers, its sales growth is supported by consumer trust in the brand and product efficacy, and the unique geographical advantage of its raw materials. It is mainly sold outside hospitals. The company implements an "An Shen +" combination strategy to drive performance growth [22][23] - Xue Fu Zhu Yu Kou Fu Ye: A well - recognized product with multiple honors. Its selection in the national Chinese patent medicine procurement alliance's volume - based procurement in 2024 is expected to expand sales. The company will continue brand building, strengthen cooperation with major pharmaceutical chains, and promote clinical use [24] Project Progress - Chinese Medicine Formula Granule Project: As of December 31, 2024, 228.776 million yuan of the raised funds had been used. Multiple workshops passed the GMP compliance inspection on January 23, 2025. The company has obtained 525 "Listing Filing Certificates for Chinese Medicine Formula Granules" and is focusing on market development [25] Investment in GF Securities - As of March 31, 2025, the company and its wholly - owned subsidiaries held 1,529,911,767 shares of GF Securities, accounting for 20.11% of the total shares. In 2024, the company's investment income from GF Securities was 174.94045 million yuan, a 40.69% increase from the previous year [25][26] Dividend Policy - The company has formulated a "Three - Year (2024 - 2026) Shareholder Return Plan", increasing the frequency and optimizing the rhythm of dividends. It has a 17 - year history of cash dividends, with a cumulative cash dividend of 4.505 billion yuan since listing. It aims to enhance the stability and predictability of dividends in the future [26]