Core Insights - The visit of Chen Junshi, a prominent expert in food safety and nutrition, to Jiahe Foods highlights the company's commitment to health industry innovation and development [1][2][3] - Jiahe Foods has established a unique development model in the health industry through structural optimization and increased R&D investment [1][3] - The company has successfully launched a whole grain-themed restaurant, promoting healthy eating habits and showcasing its whole grain products [2] Company Overview - Jiahe Foods, founded in 2001, is the first listed coffee system enterprise in China, focusing on providing healthy, green, and sustainable food solutions [3] - The company has diversified into five core industries: plant-based products, coffee, powdered fats, syrups, and innovative foods, with a production capacity exceeding 300,000 tons annually [3] - Jiahe Foods has established three production bases in Suzhou, Nantong, and Singapore, comprising five factories [3] Research and Development - The company has invested significantly in technology research and innovation, resulting in 80 patents and recognition with the "National Science and Technology Progress Second Prize" [3] - Jiahe Foods has built a strong R&D team, including academic leaders, and has established various research stations and its own Jiahe Nutrition and Health Research Institute [3] Market Potential - Chen Junshi emphasized the vast market potential for health foods, particularly those based on whole grains, aligning with modern consumers' pursuit of balanced nutrition [2] - The increasing health awareness among consumers presents a promising future for the health industry [2]

Core Viewpoint - The company reported a net profit loss of approximately 724.52 million yuan for the year 2024, with no cash dividends or stock bonuses proposed for shareholders [33][87]. Company Overview - The company specializes in the research, production, and sales of patented innovative traditional Chinese medicine, while also expanding into biopharmaceuticals and the health industry [4][5]. - The company has developed a unique research model for innovative traditional Chinese medicine, focusing on major diseases and leveraging its strong scientific research capabilities [5][6]. Business Segments Traditional Chinese Medicine - The company holds 17 patented traditional Chinese medicines, covering eight major clinical disease systems, with leading positions in cardiovascular and respiratory disease treatments [5][19]. - Key products include Tongxinluo capsules, which treat coronary heart disease and cerebral infarction, and have received multiple national science and technology awards [8]. Biopharmaceuticals - The company has established a comprehensive development strategy for biopharmaceuticals, including international registration and global sales [6]. - It has received approvals for 13 ANDA products in the U.S. market and has submitted registration applications in 53 countries [6][20]. Health Industry - The company is actively developing health products based on traditional Chinese health theories, integrating modern technology [7]. - It has launched a series of health products aimed at various health needs, including heart health and anti-aging [7]. Financial Performance - The company achieved a total revenue of approximately 6.51 billion yuan in 2024, with a significant net loss [33]. - The proposed profit distribution plan for 2024 includes no cash dividends or stock bonuses, reflecting the company's current financial situation [87]. Market Position - The company ranks 7th among traditional Chinese medicine companies in China and 30th in the broader pharmaceutical industry [17]. - Despite a declining trend in the market for traditional Chinese medicine for cardiovascular diseases, the company has maintained a growing market share in oral formulations [19]. Product Performance - The market share of key products such as Tongxinluo capsules has increased from 13.64% in 2015 to 17.69% in the first half of 2024 [19]. - The company’s diabetes medication, Jinlida granules, saw its market share rise from 4.42% in 2015 to 16.20% in the first half of 2024 [20].

Group 1 - The Thai Ministry of Public Health has announced a strategic plan to promote the health industry, which includes measures such as popularizing the use of Thai herbal medicine, accelerating medical tourism development, and strengthening local manufacturing of medical devices [1] - The Thai government aims to establish a Health Economy and Policy Office to implement this strategic plan, with an expected economic value of 690 billion THB by 2025, contributing 3.39% to the country's GDP [1] - The Thai government has approved a strategy to develop Thailand into an international medical center from 2025 to 2034, focusing on health promotion services, medical treatment, academic research, and pharmaceutical products [1] Group 2 - Thailand has a long history of developing medical tourism, officially launching its strategy in 2004, with the aim of becoming a global health tourism hub [2] - In 2022, Thailand had nearly 39,000 medical institutions, with 64% being private, and ranked fourth globally in medical tourism revenue in 2023 [2] - The Thai government has extended the medical tourism visa to 90 days to facilitate international patients seeking medical care [2] Group 3 - The international appeal of Thailand's health industry is increasing, with a strategic partnership formed between Guangdong Panhua Blue Cross Health Management Co., Ltd. and Thailand's BWC Anti-Aging Center to promote market activities in anti-aging and healthcare [3] - Medical tourism in Thailand is attracting visitors from the Middle East, with an average spending of approximately 89,000 THB per visit, indicating the attractiveness of high-end medical tourism projects [3]

Group 1 - The Shanghai Health Industry Index closed at 1065.07 points, with a 2.99% increase over the past month, a 0.09% decrease over the past three months, and a 0.09% decline year-to-date [1] - The index comprises the 50 largest listed companies in the healthcare, food safety, and environmental protection sectors on the Shanghai Stock Exchange, using equal weighting to reflect the overall performance of these companies [1] - The top ten weighted companies in the index include Fulongma (3.18%), Borui Pharmaceutical (2.57%), Daotong Technology (2.44%), WuXi AppTec (2.37%), Yifeng Pharmacy (2.21%), Hanlan Environment (2.21%), Bright Meat (2.20%), Longjing Environmental Protection (2.16%), Huitai Medical (2.16%), and Juxing Agriculture and Animal Husbandry (2.15%) [1] Group 2 - The index samples are adjusted every six months, with adjustments implemented on the next trading day after the second Friday of June and December, with a sample adjustment ratio generally not exceeding 20% [2] - Weight factors are adjusted along with the sample changes, and remain fixed until the next scheduled adjustment unless a special situation arises [2] - Companies that are delisted or undergo mergers, acquisitions, or splits are handled according to the calculation and maintenance guidelines [2]