证券代码：300391 证券简称：*ST长药 公告编号：2025-091 长江医药控股股份有限公司 关于预重整事项进展暨收到预重整延期批复的公告 本公司及董事会全体成员保证信息披露内容真实、准确和完整，没有虚假记载、误 导性陈述或重大遗漏。 一、预重整基本情况 2025年1月20日，长江医药控股股份有限公司（以下简称"公司"或"长药控 股"）收到湖北省十堰市中级人民法院（下称"十堰中院"）送达的《决定书》， 十堰中院决定对公司启动预重整，并指定上海市锦天城律师事务所担任公司预重整 期间的临时管理人。具体内容详见公司于2025年1月21日在巨潮资讯网披露的《关 于法院同意公司启动预重整程序并指定预重整临时管理人的公告》。 根据进展情况，公司于2025年1月23日在巨潮资讯网披露了《关于公司预重整 案债权申报的公告》、《关于临时管理人公开招募和遴选投资人的公告》；2025 年2月13日披露了《关于公司子公司被债权人申请重整的提示性公告》；2025年3 月14日披露了《关于法院裁定受理子公司重整并指定重整管理人的公告》；2025 年4月2日披露了《关于预重整事项的进展公告》；2025年4月15日披露了《关于预 重整 ...

Market Overview - The Chinese medicine sector experienced a decline of 0.57% on September 22, with Zhongsheng Pharmaceutical leading the drop [1] - The Shanghai Composite Index closed at 3828.58, up 0.22%, while the Shenzhen Component Index closed at 13157.97, up 0.67% [1] Stock Performance - Notable gainers in the Chinese medicine sector included: - Tianmu Pharmaceutical: closed at 18.31, up 2.29% with a trading volume of 35,700 shares [1] - Fangsheng Pharmaceutical: closed at 11.02, up 2.23% with a trading volume of 186,100 shares [1] - Jiuzi Tang: closed at 10.34, up 1.77% with a trading volume of 169,900 shares [1] - Conversely, Zhongsheng Pharmaceutical saw a significant decline, closing at 18.52, down 6.28% with a trading volume of 974,000 shares [2] Capital Flow - The Chinese medicine sector experienced a net outflow of 429 million yuan from institutional investors, while retail investors saw a net inflow of 392 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors pulling back while retail investors remained active [2] Individual Stock Capital Flow - Key stocks with notable capital flow include: - Zhendong Pharmaceutical: net inflow of 31.47 million yuan from institutional investors [3] - Daren Tang: net inflow of 27.08 million yuan from institutional investors [3] - Jiuzi Tang: net inflow of 18.17 million yuan from institutional investors [3] - Stocks like Daren Tang and Jiuzi Tang experienced negative net inflows from retail investors, indicating a divergence in investor sentiment [3]

Market Overview - The Shanghai Composite Index is at 3874.52 points, with a change of 0.33% [1] - The total trading volume of A-shares is 19671.23 billion yuan [1] Stocks with Death Cross - A total of 132 A-shares have seen their 5-day moving average cross below the 10-day moving average [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - COFCO Technology: 5-day MA is -0.97% below the 10-day MA [1] - Jiuri New Materials: 5-day MA is -0.94% below the 10-day MA [1] - Potential Energy: 5-day MA is -0.81% below the 10-day MA [1] Detailed Stock Performance - COFCO Technology (301058): Today's change is -0.44%, with a 5-day MA of 11.40 yuan and a 10-day MA of 11.51 yuan, showing a distance of -0.97% [1] - Jiuri New Materials (688199): Today's change is +0.71%, with a 5-day MA of 27.31 yuan and a 10-day MA of 27.57 yuan, showing a distance of -0.94% [1] - Potential Energy (300191): Today's change is -0.10%, with a 5-day MA of 20.42 yuan and a 10-day MA of 20.59 yuan, showing a distance of -0.81% [1] - Other notable stocks include: - Tongzhou Electronics (002052): -0.77% change, 5-day MA of 14.80 yuan, 10-day MA of 14.91 yuan, distance of -0.72% [1] - Shun Group (603922): -1.84% change, 5-day MA of 22.58 yuan, 10-day MA of 22.73 yuan, distance of -0.65% [1] Additional Stocks with Notable Changes - Yibin Paper (600793): -1.04% change, 5-day MA of 24.23 yuan, 10-day MA of 24.34 yuan, distance of -0.45% [2] - Tianrun Dairy (600419): -2.18% change, 5-day MA of 10.60 yuan, 10-day MA of 10.65 yuan, distance of -0.44% [2] - ST Nanchuan (300198): -1.29% change, 5-day MA of 2.34 yuan, 10-day MA of 2.35 yuan, distance of -0.43% [2]

Market Overview - The Shanghai Composite Index closed at 3877.55 points, with a change of 0.41% [1] - The total trading volume of A-shares reached 1561.918 billion yuan [1] Technical Analysis - A total of 127 A-shares experienced a death cross, where the 5-day moving average fell below the 10-day moving average [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - COFCO Technology: 5-day MA at 11.41 yuan, 10-day MA at 11.52 yuan, difference of -0.92% [1] - Jiuri New Materials: 5-day MA at 27.35 yuan, 10-day MA at 27.59 yuan, difference of -0.86% [1] - Potential Energy Trust: 5-day MA at 20.44 yuan, 10-day MA at 20.59 yuan, difference of -0.77% [1] Individual Stock Performance - COFCO Technology: Today's change of 0.09%, trading volume of 1.13% [1] - Jiuri New Materials: Today's change of 1.49%, trading volume of 1.84% [1] - Potential Energy Trust: Today's change of 0.34%, trading volume of 1.64% [1] - Other notable stocks with death crosses include: - Tongzhou Electronics: Today's change of -0.42%, trading volume of 2.40% [1] - ST Long Pharmaceutical: Today's change of -2.50%, trading volume of 2.14% [1] - Jin Hong Shun: Today's change of -1.44%, trading volume of 2.07% [1]

证券代码：300391 证券简称：*ST长药 公告编号：2025-090 长江医药控股股份有限公司 关于预重整事项进展暨收到 子公司实质合并重整延期批复的公告 本公司及董事会全体成员保证信息披露内容真实、准确和完整，没有虚假记载、误 导性陈述或重大遗漏。 一、预重整基本情况 2025年1月20日，长江医药控股股份有限公司（以下简称"公司"或"长药控股"） 收到湖北省十堰市中级人民法院（下称"十堰中院"）送达的《决定书》，十堰中 院决定对公司启动预重整，并指定上海市锦天城律师事务所担任公司预重整期间的 临时管理人。具体内容详见公司于2025年1月21日在巨潮资讯网披露的《关于法院 同意公司启动预重整程序并指定预重整临时管理人的公告》。 根据进展情况，公司于2025年1月23日在巨潮资讯网披露了《关于公司预重整 案债权申报的公告》、《关于临时管理人公开招募和遴选投资人的公告》；2025 年2月13日披露了《关于公司子公司被债权人申请重整的提示性公告》；2025年3 月14日披露了《关于法院裁定受理子公司重整并指定重整管理人的公告》；2025 年4月2日披露了《关于预重整事项的进展公告》；2025年4月15日披露了 ...

证券代码：300391 证券简称：*ST长药 公告编号：2025-089 长江医药控股股份有限公司 重大诉讼的进展公告 本公司及董事会全体成员保证信息披露内容真实、准确和完整，没有虚假记载、误导性 陈述或重大遗漏。 2025年9月8日，长江医药控股股份有限公司（以下简称"公司"、"长药控 股"）收到湖北省十堰市中级人民法院的执行通知书等文书。湖北省十堰市中级 人民法院所在地为十堰市张湾区浙江路66号。诉讼各方当事人如下： 申请执行人(原告)：杭州滨创股权投资有限公司，法定代表人沈伟东。 被执行人（被告)：长江医药控股股份有限公司，法定代表人胡士会。 二、有关本案的基本情况 原告杭州滨创股权投资有限公司与被告长江医药控股股份有限公司、第三人 湖北长江大药房连锁有限公司债权人代位权纠纷案的基本情况，详见公司于2024 年9月19日、2024年11月20日、2024年12月12日、2025年1月14日、2025年2月26 日披露于巨潮资讯网的《重大诉讼公告》、《重大诉讼的进展公告》。 三、诉讼进展情况 原告杭州滨创股权投资有限公司与被告长江医药控股股份有限公司、第三人 湖北长江大药房连锁有限公司债权人代位权纠纷案判 ...

Core Viewpoint - The ongoing legal progress in the capital market has led to several listed companies being ordered to compensate investors for losses due to false securities statements, marking a significant victory for investor rights [1] Group 1: Dragon Yu Co., Ltd. (龙宇股份) - The Shanghai Financial Court ruled in favor of investors in a case against Dragon Yu Co., Ltd., providing a pathway for those harmed by false statements to seek compensation [2] - The court's use of a demonstrative judgment mechanism has improved trial efficiency and reduced the cost of investor rights protection, setting a precedent for similar cases [3] - Despite being delisted, Dragon Yu Co., Ltd. remains liable for investor claims, with the company facing potential severe penalties from the China Securities Regulatory Commission (CSRC) for information disclosure violations [3] - Investors who purchased shares between December 16, 2024, and April 29, 2023, and sold or held them at a loss after April 30, 2024, are eligible for compensation [4] Group 2: Caesar Travel Industry (凯撒旅业) - The latest developments in the Caesar Travel Industry case have provided hope for affected investors, with a court ruling in favor of investors following the company's penalties for information disclosure violations [5] - The court determined that both the company and its actual controller would bear joint liability for compensation, reinforcing the legal support for investors [5] - Investors who bought shares between January 8, 2020, and September 5, 2023, and sold or held them at a loss after September 6, 2023, can participate in the compensation process [6] Group 3: Changyao Holdings (长药控股) - Changyao Holdings achieved a significant legal victory, with the court recognizing the causal relationship between the company's violations and investor losses, ordering the company to compensate affected investors [7] - The company was found to have engaged in fund occupation and illegal guarantees, with a total of approximately 179.66 million yuan involved in fund occupation from 2019 to 2023 [6][7] - Investors who purchased shares between March 30, 2019, and April 29, 2024, and sold or held them at a loss after April 30, 2024, are eligible for compensation [7]

1、十堰市盛世郧景股权投资合伙企业(有限合伙)债权人代位权纠纷案的诉 讼各方当事人如下： 证券代码：300391 证券简称：*ST长药 公告编号：2025-088 长江医药控股股份有限公司 重大诉讼的进展公告 本公司及董事会全体成员保证信息披露内容真实、准确和完整，没有虚假记载、误导性 陈述或重大遗漏。 重要内容提示： 1、原告十堰市盛世郧景股权投资合伙企业(有限合伙)与被告长江医药控股 股份有限公司、第三人湖北长江大药房连锁有限公司债权人代位权纠纷案，十堰 市中级人民法院于2025年8月24日判决。本案涉案金额154,890,260.10元，预计 不会对公司当期损益产生影响。 2、原告深圳前海盛世轩金投资企业(有限合伙)与被告长江医药控股股份有 限公司、第三人湖北长江大药房连锁有限公司债权人代位权纠纷案，十堰市中级 人民法院于2025年9月2日判决。本案涉案金额86,823,643.75元，预计不会对公 司当期损益产生影响。 一、诉讼事项的基本情况 2025年9月1日，长江医药控股股份有限公司（以下简称"公司"）收到湖北 省十堰市中级人民法院送达的十堰市盛世郧景股权投资合伙企业(有限合伙)债 权人代位权纠纷 ...

Core Viewpoint - *ST Changyao reported a narrowed loss in its 2025 mid-year financial results, with total revenue declining and net profit improving year-on-year [1] Financial Performance Summary - Total revenue for 2025 mid-year was 70.575 million yuan, a decrease of 4.18% compared to 2024 mid-year [1] - The net profit attributable to shareholders was -116 million yuan, an improvement of 23.74% year-on-year [1] - The gross profit margin was 3.66%, down 35.42% year-on-year, while the net profit margin was -200.51%, an increase of 38.90% [1] - Total expenses (selling, administrative, and financial) amounted to 73.9797 million yuan, accounting for 104.82% of revenue, a decrease of 15.49% year-on-year [1] - Earnings per share were -0.33 yuan, an improvement of 23.74% year-on-year [1] Cash Flow and Debt Analysis - The net cash flow from operating activities decreased by 271.86%, attributed to increased cash payments for goods and services [3] - The company’s cash and cash equivalents were 9.9185 million yuan, a decrease of 1.41% year-on-year [1] - Interest-bearing liabilities decreased by 23.54% to 640 million yuan [1] - The company’s cash flow situation is concerning, with a cash ratio of 0.52% and negative average operating cash flow over the past three years [4] Management and Financial Costs - Management expenses increased by 24.31% due to higher amortization of long-term deferred expenses and increased intermediary fees [3] - Financial expenses decreased by 44.95% as some creditors ceased interest accrual following the company's pre-restructuring process [3] Investment Return and Historical Performance - The company's historical return on invested capital (ROIC) has been weak, with a median of 3.22% over the past decade and a particularly poor ROIC of -121.64% in 2024 [3] - The company has reported losses in four out of ten years since its listing, indicating a generally poor financial performance [3]

Core Insights - *ST Changyao reported a total operating revenue of 70.575 million yuan for the first half of 2025, a decrease of 3.0787 million yuan compared to the same period last year, representing a year-on-year decline of 4.18% [1] - The company recorded a net profit attributable to shareholders of -116 million yuan as of June 30, 2025 [1] - Operating cash flow showed a net outflow of -112 million yuan, a decrease of 81.9048 million yuan compared to the same period last year [1] Financial Metrics - As of June 30, 2025, the asset-liability ratio was 128.22%, an increase of 3.21 percentage points from the previous quarter and an increase of 53.18 percentage points year-on-year [3] - The gross profit margin was 3.66%, down 2.01 percentage points compared to the same period last year [3] - The diluted earnings per share were -0.33 yuan [3] - The total asset turnover ratio was 0.04 times, and the inventory turnover ratio was 1.38 times as of June 30, 2025 [3] Shareholder Information - The number of shareholders was 15,900, with the top ten shareholders holding a total of 99.0079 million shares, accounting for 28.26% of the total share capital [3] - The top ten shareholders and their respective holdings are as follows: 1. Changxing Shengshi Zhuhua Investment Co., Ltd. - 10.1 million shares 2. Shanghai Yucong Asset Management Co., Ltd. - 5.95 million shares 3. Liu Lili - 5.05 million shares 4. Shouguang City Kangyue Investment Co., Ltd. - 3.46 million shares 5. Cai Ping - 0.86 million shares 6. Wang Fugeng - 0.66 million shares 7. Shanghai Kaishuang Private Fund Management Co., Ltd. - 0.57 million shares 8. Li Yufang - 0.54 million shares 9. Chen Daoming - 0.51 million shares 10. Chen Zhiming - 0.51 million shares [3]