中国仪征，2025年4月——中国黑莓产业迎来历史性突破！百汇园黑莓小镇与江苏省中医药研究院联合开展的"黑莓原液+冻干粉"药理学研究成果，即将发表 于国际权威学术期刊《世界中医药》。这是全球首次针对黑莓深加工终端产品的系统性医学研究，标志着中国在黑莓功能价值开发领域实现从"营养分 析"到"精准干预"的跨越式发展。 跨越式突破：从果实到产品的医学实证 长期以来，国际学术界对黑莓的研究多聚焦于鲜果营养成分，对其深加工产品的药效机制研究始终处于空白。研究团队以百汇园自主研发的"黑莓原液""黑 莓冻干粉"为样本，通过动物实验与高分辨质谱分析，首次揭示深加工技术对活性成分的关键提升： 生物利用率提升：氨基酸、黄酮类等核心成分经工艺优化后，吸收效率显著提高 双重健康价值：证实产品可有效抑制炎症因子表达、调节脂质代谢通路 科学背书：建立"成分-机制-功效"完整证据链，为功能宣称提供医学级支撑 权威背书：产学研融合典范 作为研究合作方的江苏省中医药研究院，其课题组负责人指出："这项研究具有双重创新价值：既通过现代药理学手段验证传统药食同源理念，又为慢性病 预防提供天然解决方案。" 团队依托百汇园三大核心优势—— 1.20年种质 ...

Core Viewpoint - The annual report of Kew Flower Pharmaceutical (葵花药业) for 2024 shows a stable performance with revenue of 3.377 billion yuan and a net profit of 492 million yuan, indicating a clear path for transformation in the traditional pharmaceutical industry amidst the restructuring of the Chinese medicine sector [1][11]. Group 1: Financial Performance - Kew Flower Pharmaceutical achieved an operating income of 3.377 billion yuan and a net profit attributable to shareholders of 492 million yuan in 2024 [1]. - The profit distribution plan approved by the board proposes a cash dividend of 5 yuan per 10 shares, based on a total share capital of 584 million shares as of December 31, 2024 [1]. Group 2: Industry Trends - The Chinese medicine industry is accelerating its transformation towards high-quality development, driven by policy changes such as the establishment of a standard management system for traditional Chinese medicine [3][11]. - The market demand is evolving, with increased consumer health awareness leading to a surge in chronic disease management and health maintenance needs, particularly in respiratory, cardiovascular, and wellness sectors [3][11]. Group 3: Company Strategy - Kew Flower Pharmaceutical is focusing on both internal growth through product innovation and external expansion, responding to the changing industry landscape [4]. - The company has a robust product portfolio with over 1,000 drug approval numbers, including more than 500 in the national medical insurance directory and nearly 300 in the essential drug list [5]. - Continuous product development is underway, including new formulations that cater to children's preferences and medication habits [6]. Group 4: Research and Development - The company is actively engaged in R&D with nearly 40 drug projects in development and collaborations with academic institutions to enhance innovation [7]. - A partnership with Peking University Medical School aims to establish a joint laboratory for innovative drug development, leveraging academic resources for mutual benefit [7]. Group 5: Digital Transformation - Kew Flower Pharmaceutical has completed a comprehensive digital transformation, setting a benchmark in OTC marketing and exploring new business models in digital marketing and e-commerce [8]. - Initiatives like the "Four Dragons Control Water" digital marketing project have successfully positioned certain products as market leaders, showcasing the company's ability to reach consumers effectively [8]. Group 6: Market Positioning - The company employs a "dual brand + full category" strategy, focusing on both pediatric and adult medications to create competitive barriers [9]. - Kew Flower Pharmaceutical is a leader in the pediatric medication sector, with over 60 listed products and several achieving significant sales milestones [9]. - In the adult medication market, the company targets chronic disease management, particularly in the areas of liver health and cardiovascular care, to capture new growth opportunities [10]. Group 7: Brand Value - Kew Flower Pharmaceutical has established strong brand equity with its two core brands, "Kew Flower" and "Little Kew Flower," valued at 18.432 billion yuan and 14.484 billion yuan respectively [10]. - The company's extensive product range and established brand trust contribute to its competitive advantage in a volatile market [10]. Group 8: Market Outlook - The overall market for traditional Chinese medicine is projected to reach approximately 1 trillion yuan by 2025, with significant growth potential in the Chinese patent medicine segment [11]. - Kew Flower Pharmaceutical is well-positioned to leverage its strategic focus on innovation and quality to capture a larger share of the expanding market [11].

转自：新华财经 此外，片仔癀公司作为大会支持单位，荣获组委会颁发的"中国肝胆病诊疗技术服务金钻奖"，进一步提 升了行业影响力。 本次大会不仅是学术成果的交流平台，更是片仔癀公司践行"传承精华、守正创新"的生动实践。通过展 示前沿研究、链接行业资源、深化医患沟通，片仔癀进一步巩固了其"肝胆用药品牌"的行业地位。 纪龙珊博士表示："目前一些中药与抗病毒药物联用多在降低血清肝纤维化指标、改善肝功能方面具有 疗效，但大多数缺乏以肝组织病理学为疗效评价手段的多中心、随机双盲对照设计的临床研究证实，所 以片仔癀治疗慢乙肝肝纤维化这项临床研究是非常有价值的，为片仔癀抗乙肝肝纤维化的临床应用提供 了高级别的循证医学证据。" 多维展示：品牌与学术深度融合 为强化与学术界的互动，片仔癀公司在会议现场搭建了展台，通过产品展示、扫码互动等形式，向参会 专家传递"科学诠释药理、数据支撑疗效"的研发理念。一位参会代表表示："片仔癀不仅产品疗效显 著，更以严谨的科研态度赢得信任，未来以片仔癀为代表的中成药在疑难及重症肝病治疗领域具有广泛 的应用和良好的前景，将惠及更多患者。" 4月24日至27日，由中国肝病领域权威机构联合主办的"第十三届 ...

一朵"云"，赋能智能制造，可视化信息系统平台全时段自动采集投料、提取、灌装等生产运行数据；一 个"大脑"，带动产业创新发展，实现从药材种植到药品生产的全链条数字化管控。从过去需要大量人工 操作，到数字化、智能化发展，中医药产业插上科技的翅膀，改变了一些人的"刻板印象"。 从田间到临床，从生产到研发，聚焦全产业链发力，加强各环节互联互通，打造中医药事业产业互促共 进、协同发展新格局 实时画面传输稳定，气温、湿度、风向等信息一目了然……走进重庆涪陵高新区太极医药城，在国药太 极中药材GAP追溯展示平台上，可看到远在千里之外的20多个中药材种植基地情况。 强协同、抓源头、提质量、促转型、惠民生。从田间到临床，从生产到研发，聚焦全产业链发力，加强 各环节互联互通，打造中医药事业产业互促共进、协同发展新格局，中医药必能打开发展新天地，增强 群众获得感。 （文章来源：人民日报） 中医药学是中华民族的伟大创造和中国古代科学的瑰宝，中医药产业发展颇具潜力。看规模，中医药行 业市场规模快速增长，产业结构布局持续优化，集聚优势逐步显现。看产业链，从中药材种植、养殖和 采集，到中成药、中药饮片研发生产，再到中医诊疗，链条长、环节多 ...

Core Insights - The overall performance of traditional Chinese medicine (TCM) companies shows a divergent trend amid intensified market competition, fluctuating raw material prices, and changing policy environments [1] - Companies are actively seeking new growth avenues for long-term development [1] Revenue Performance - Baiyunshan leads with a revenue of 749.93 billion, but experienced a slight decline of 0.69% year-on-year [3] - Yunnan Baiyao follows with a revenue of 400.33 billion, maintaining steady growth supported by diversified products [3] - Taiji Group and Kangyuan Pharmaceutical saw significant revenue declines, with Taiji's revenue dropping by 20.72% to 123.86 billion [3][4] - Taiji's flagship product, Huoxiang Zhengqi Oral Liquid, faced a 35.34% drop in sales, indicating market share erosion [3][4] Profitability Analysis - Yunnan Baiyao reported a leading net profit of 47.49 billion, up 16.02%, while Huaren Sanjiu's net profit grew by 18.05% to 33.68 billion [6] - Six out of fifteen companies experienced a decline in net profit, indicating severe profitability challenges [6] - Taiji Group's net profit plummeted by 96.76% to 0.27 billion, attributed to tax payment issues [6][7] Cost Pressures - Rising raw material prices significantly impacted profit margins, with notable increases in costs for key ingredients [8][9] - For instance, the price of natural cow bile used in Tongrentang's products surged from 650,000 to 1,650,000 per kilogram, leading to a decrease in gross margin [8] R&D and Innovation Challenges - Many TCM companies face low R&D investment and high sales expenses, limiting their growth potential [9][10] - Approximately 40% of the surveyed companies had R&D expenses below 200 million, with seven companies reporting a year-on-year decline in R&D spending [9] - Companies are increasingly relying on traditional products, hindering innovation and the introduction of competitive new products [9] Strategic Shifts - Companies are exploring new growth strategies, such as East A Ejiao's focus on men's health products and Jichuan Pharmaceutical's partnerships for business development [10][11] - Some companies are integrating AI and digital technologies into their operations to modernize and enhance product offerings [11]

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% relative to the industry index in the next six months [4][20]. Core Insights - The company is focusing on integrating AI into traditional Chinese medicine, aiming to enhance medical services through data-driven and standardized approaches [2][3]. - The strategic development layout includes leveraging rich and high-quality traditional Chinese medicine resources alongside AI and innovative traditional Chinese medicine products [2]. - The appointment of a senior AI advisor from Tsinghua University is expected to strengthen the company's AI capabilities and enhance its competitive edge in the market [8]. Financial Summary - The company’s projected revenue growth is robust, with expected revenues of 3.06 billion yuan in 2024, 3.99 billion yuan in 2025, and 5.19 billion yuan in 2026, reflecting year-on-year growth rates of 31.5%, 30.6%, and 30.1% respectively [12]. - Adjusted net profit is forecasted to reach 400 million yuan in 2024, 536 million yuan in 2025, and 713 million yuan in 2026, with corresponding growth rates of 31.0%, 34.2%, and 33.0% [12]. - The company’s return on equity (ROE) is expected to improve from 10.9% in 2023 to 18.7% in 2026, indicating increasing profitability [12]. Strategic Developments - The company has established partnerships with major institutions, including a collaboration with Baidu to develop a clinical evaluation and intelligent decision-making platform for traditional Chinese medicine [7][8]. - The company is actively converting traditional prescriptions into innovative proprietary medicines, with plans to develop 10 new proprietary products annually, enhancing its product offerings and market presence [9][10].