1600元一粒的明星药跌至600元，中药茅市值4年蒸发1800亿

Core Viewpoint - The article highlights the decline of Pizhou Huang's market performance, indicating a significant drop in sales and profitability, marking the end of its previous growth phase [1][5]. Price Trends - Pizhou Huang's price has seen a dramatic shift from being highly sought after at prices exceeding 1000 yuan per piece to experiencing price drops below the official price of 760 yuan, with some e-commerce platforms offering prices under 600 yuan [2][3]. Financial Performance - The third-quarter report revealed a decline in both revenue and net profit, with revenue dropping to 74.42 billion yuan, a year-on-year decrease of 11.93%, and net profit falling to 21.29 billion yuan, down 20.74% [5][8]. - The quarterly performance showed an even sharper decline, with revenue at 20.63 billion yuan, down 26.12%, and net profit at 6.87 billion yuan, down 28.83% [8][9]. Business Structure - The pharmaceutical manufacturing segment, which is crucial for the company's performance, reported a revenue of 40.16 billion yuan, accounting for 54.09% of total revenue, but experienced a 12.93% decline [8]. - The core product line, particularly liver disease medications, saw a revenue drop to 38.80 billion yuan, down 9.41%, with a significant reduction in gross margin [8]. Market Capitalization - Following the third-quarter report, Pizhou Huang's stock price fell by 5.78% on the first trading day, continuing to decline to 180.72 yuan per share by October 24, resulting in a total market capitalization of 1.09 trillion yuan, a decrease of over 180 billion yuan from its peak [9].