证券代码：600422 证券简称：昆药集团 公告编号：2025-042号 昆药集团股份有限公司关于续聘会计师事务所的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 昆药集团股份有限公司（以下简称"昆药集团"、"公司"）于 2025 年 8 月 14 日召 开十一届七次董事会、十一届五次监事会，审议通过《关于聘请公司 2025 年度审计机 构的议案》，具体如下： 一、拟聘任会计师事务所的基本情况 毕马威华振的首席合伙人邹俊，中国国籍，具有中国注册会计师资格。 截至 2024 年 12 月 31 日，毕马威华振有合伙人 241 人，注册会计师 1,309 人，其 中签署过证券服务业务审计报告的注册会计师超过 300 人。 毕马威华振 2024 年经审计的业务收入总额超过人民币 41 亿元，其中审计业务收 入超过人民币 40 亿元（包括境内法定证券业务收入超过人民币 9 亿元，其他证券业务 收入超过人民币 10 亿元，证券业务收入共计超过人民币 19 亿元）。 毕马威华振 2024 年上市公司年报审计客户家数为 ...

证券代码：600422 证券简称：昆药集团 公告编号：2025-041号 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 昆药集团股份有限公司（以下简称"昆药集团"、"公司"）于 2025 年 8 月 14 日 以现场+线上会议方式召开公司十一届五次监事会会议。会议通知以书面方式于 2025 年 8 月 4 日发出。会议由公司监事会主席钟江先生召集并主持，本次会议应参加表决 监事 5 人，实际参加表决 5 人，符合《公司法》和《公司章程》的规定。会议审议并 通过了以下决议： 1、 关于公司 2025 年半年度报告及摘要的议案（公司 2025 年半年度报告及摘要刊登 于上海证券交易所网站 www.sse.com.cn） 同意：5 票 反对：0 票 弃权：0 票 监事会书面审核意见： 公司半年度报告编制和审议程序符合法律、法规、公司章程和公司内部管理制度 的各项规定；半年度报告的内容和格式符合中国证监会和上海证券交易所的各项规 定，所包含的信息从各个方面真实地反映出公司 2025 年上半年的经营成果和财务状 况等事项；未发现参与 ...

证券代码：600422 证券简称：昆药集团 公告编号：2025-040号 昆药集团股份有限公司十一届七次董事会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 1 1、 关于公司 2025 年半年度报告及摘要的议案（公司 2025 年半年度报告及摘要刊登 于上海证券交易所网站 www.sse.com.cn） 本议案已经公司十一届董事会审计与风险控制委员会 2025 年第四次会议审议通 过，并同意提交公司董事会审议。 同意：9 票 反对：0 票 弃权：0 票 2、 关于聘请公司 2025 年度审计机构的议案（详见《昆药集团关于续聘会计师事务 所的公告》） 本议案已经公司十一届董事会审计与风险控制委员会 2025 年第四次会议审议通 过，并同意提交公司董事会审议。 同意：9 票 反对：0 票 弃权：0 票 此议案审议通过，还须提交公司股东大会审议。 3、 关于调整公司组织架构的议案 为深化组织重塑，支撑战略达成，根据业务需求，调整公司组织架构，明确新架 构部门职责。 昆药集团股份有限公司（以下简称"昆药集团"、"公司"）于 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告 全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責 任。 （於香港註冊成立的有限公司） （股份代號：3320） 公告 | | 截至 | 截至 | | | --- | --- | --- | --- | | | 2025年6月30日 | 2024年12月31日 | 增加╱減少 | | | （人民幣） | （人民幣） | (%) | | | （未經審核） | （經審核） | | | 總資產 | 12,657,788,827.12 | 12,611,367,133.57 | 0.37% | | 上市公司股東應佔資產 | 5,226,959,645.61 | 5,253,648,545.41 | –0.51% | | | 截至6月30日止六個月 | | | | | 2025年 | 2024年 | 增加╱減少 | | --- | --- | --- | --- | | | （人民幣） | （人民幣） | (%) | | | （未經審核） | （未經審核） | | | ...

昆药集团股份有限公司2025 年半年度报告 公司代码：600422 公司简称：昆药集团 昆药集团股份有限公司 2025 年半年度报告 1 / 188 昆药集团股份有限公司2025 年半年度报告 √适用 □不适用 本报告涉及的公司未来计划、发展战略等前瞻性描述因存在不确定性，不构成公司对投资者 的实质承诺，敬请投资者注意投资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确 性、完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人颜炜、主管会计工作负责人孙志强及会计机构负责人（会计主管人员）杨学炳 声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提 ...

Group 1 - The company reported a revenue of 3.351 billion yuan for the first half of 2025, representing a year-on-year decrease of 11.68% [1] - The net profit attributable to shareholders of the listed company was 198 million yuan, down 26.88% year-on-year [1] - The net profit after deducting non-recurring gains and losses was 151 million yuan, a year-on-year decline of 5.57% [1] - The basic earnings per share were 0.26 yuan [1]

Core Viewpoint - Kunming Pharmaceutical Group (600422.SH) reported a decline in revenue and net profit for the first half of 2025, indicating potential challenges in its financial performance [1] Financial Performance - The company achieved an operating income of 3.351 billion yuan, a year-on-year decrease of 11.68% [1] - The net profit attributable to shareholders was 198 million yuan, down 26.88% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 150 million yuan, reflecting a year-on-year decline of 5.57% [1] - Basic earnings per share were reported at 0.26 yuan [1]

Core Viewpoint - The recent IPO of Silver诺医药-B has generated significant interest and profit in the market, driven by its innovative weight-loss drug, I苏帕格鲁肽α, which is set to become the first domestically developed long-acting GLP-1 receptor agonist in China [1][2][9]. Company Overview - Silver诺医药-B (02591.HK) opened at 72 HKD per share, a 285% increase from its issue price of 18.68 HKD, and closed at 55.9 HKD, reflecting a 199.25% rise, with a total market capitalization of 25.54 billion HKD [1][2]. - The company has incurred losses of 12.04 billion CNY over the past three years, with projected losses of 2.96 billion CNY in 2022, 7.33 billion CNY in 2023, and 1.75 billion CNY in 2024 [8][13]. Product Pipeline - The core product, I苏帕格鲁肽α, is aimed at treating type 2 diabetes and is expected to be approved by the National Medical Products Administration (NMPA) in January 2025 [2][9]. - The company is also developing new indications for obesity and related metabolic diseases, with IND approval for phase II trials received in July 2023 [4][5]. Market Context - The global obesity issue is severe, with over 400 million overweight and obese individuals in China alone, highlighting a significant market opportunity for weight-loss drugs [5]. - The GLP-1 therapy market is becoming increasingly competitive, with several other companies, including 九源基因 and 派格生物, also entering the Hong Kong stock market [2][14]. Investment and Financing - Silver诺医药 has completed four rounds of financing, raising a total of 1.514 billion CNY, with notable investors including KIP, 光大控股, and 中金资本 [10][12][13]. - The company’s valuation reached 4.65 billion CNY after its latest financing round, but it faces challenges due to significant operational losses [13]. Competitive Landscape - The GLP-1 market is attracting attention from wealthy investors and companies, with various players like 联邦制药 and 丽珠集团 also developing similar products [14][16]. - The competition is intensifying, with established companies having stronger financial backing compared to Silver诺医药, which relies on its academic and research strengths [19].

天眼查商业履历信息显示，昆药集团股份有限公司，成立于1995年，位于昆明市，是一家以从事医药制 造业为主的企业。企业注册资本75697.5757万人民币，实缴资本34113.0177万人民币。公司法定代表人 为颜炜。 通过天眼查大数据分析，昆药集团股份有限公司共对外投资了45家企业，参与招投标项目5000次，知识 产权方面有商标信息222条，专利信息465条，此外企业还拥有行政许可341个。 金融界消息 截至2025年8月14日收盘，昆药集团（600422）报收于14.53元，下跌0.27%，换手率 1.56%，成交量11.78万手，成交金额1.71亿元。 资金流向方面，今日主力资金净流出2274.31万元，占比成交额13.28%。其中，超大单净流出952.83万 元、占成交额5.56%，大单净流出1321.48万元、占成交额7.71%，中单净流出流入755.16万元、占成交 额4.41%，小单净流入1519.15万元、占成交额8.87%。 昆药集团最新一期业绩显示，截至2025一季报，公司营业总收入16.08亿元、同比减少16.53%，归属净 利润9048.23万元，同比减少31.06%，扣非净利润7206 ...

Core Viewpoint - The company, China Resources Sanjiu, is facing significant challenges as its traditional revenue streams are stagnating, new business ventures are not performing well, and it is struggling to keep pace with competitors in a tightening regulatory environment [2][3]. Business Performance - In 2024, the company reported total sales of 276 billion yuan, but the growth rate is declining, indicating potential risks [3]. - The company's flagship products, which account for 45% of sales (approximately 125 billion yuan), have seen a decrease in growth from nearly 20% in 2023 to 14% in 2024, suggesting they are nearing market saturation [4]. - New products launched in 2024, such as vitamin D drops and probiotics, contributed less than 3% to revenue, indicating poor market reception [5]. Prescription and Over-the-Counter Drugs - The prescription drug segment, which was previously a strong revenue generator, has been negatively impacted by national price cuts, resulting in a gross margin decline of 4.6 percentage points in 2024 [5][10]. - The company’s retail business generated 33.7 billion yuan in 2024, but with a low gross margin of only 13.4%, highlighting inefficiencies in physical store operations [6]. Financial Metrics - In Q1 2025, the company reported revenue of 68.54 billion yuan, a year-on-year decline of 6.04%, and a net profit of 12.7 billion yuan, down 6.87% [8][10]. - Compared to competitors, the company is lagging, with its gross margin at 53.28%, significantly lower than peers like Dong-E E-Jiao at 73.62% [9][10]. Acquisition and Integration Challenges - The acquisition of Kunming Pharmaceutical Group has not yielded expected benefits, with its revenue growth at only 7.3% and a gross margin drop of 7.4 percentage points [6][11]. - The company faces high management integration costs post-acquisition, and the goodwill from acquisitions poses a risk of impairment, amounting to 51.24 billion yuan, which is 25.7% of the company's net assets [11]. Research and Development - The company has increased its R&D investment from 5.94 billion yuan in 2022 to 8.02 billion yuan in 2024, maintaining a 16.8% annual growth rate [12]. - However, the capitalized R&D ratio has dropped from 22.35% to 15.87%, indicating potential issues with project maturity and profitability [13]. - The R&D team has expanded significantly, but labor costs now account for 37.7% of R&D expenses, raising concerns about the efficiency of these investments [14].