8月15日晚间，天士力(600535)发布半年报，公司2025年上半年实现归母净利润7.75亿元，同比增长 16.97%，公司经营业绩与质量稳步提升。 半年报显示，2025年上半年公司实现营业收入42.88亿元，其中医药工业收入38.79亿元，较去年同期保 持稳定;医药商业收入3.86亿元。公司实现归属于上市公司股东的净利润7.75亿元，同比增长16.97%。上 半年公司资产负债率从年初的19.13%下降至报告期末的18.43%，下降0.7个百分点。 同时，公司拟向全体股东每10股派发现金红利2.1元(含税)。截至2025年6月30日，公司总股本 1493950005股，以此计算合计拟派发现金红利313729501.05元(含税)。本次分红占公司2025年半年度合 并报表归属于上市公司股东净利润的比率为40.50%。 今年上半年，天士力控股股东变更为华润三九，实际控制人变更为中国华润有限公司，公司正式成为华 润三九旗下成员企业，并顺利完成董事会、监事会的改组工作。 报告期内，公司迅速推动与华润三九的「百日融合」工作，在运营管理方面，公司积极落实华润管理理 念，加强财务、人力资源、EHSQ及大监督体系的融合，开 ...

Core Viewpoint - Tianjin Tasly Pharmaceutical Co., Ltd. reported a net profit of 775 million yuan for the first half of 2025, marking a year-on-year increase of 16.97%, indicating steady improvement in operational performance and quality [1] Financial Performance - The company achieved total revenue of 4.288 billion yuan in the first half of 2025, with pharmaceutical industrial revenue at 3.879 billion yuan, remaining stable compared to the same period last year, and pharmaceutical commercial revenue at 386 million yuan [1] - The net profit attributable to shareholders reached 775 million yuan, reflecting a year-on-year growth of 16.97% [1] - The asset-liability ratio decreased from 19.13% at the beginning of the year to 18.43% by the end of the reporting period, a reduction of 0.7 percentage points [1] - The company plans to distribute a cash dividend of 2.1 yuan per 10 shares (including tax), totaling approximately 313.73 million yuan, which represents 40.50% of the net profit attributable to shareholders for the first half of 2025 [1] Corporate Changes and Strategic Initiatives - In the first half of 2025, the controlling shareholder changed to China Resources Sanjiu, with the actual controller being China Resources Limited, marking the company's formal integration into the China Resources Sanjiu group [1] - The company is actively promoting the "100-day integration" with China Resources Sanjiu, focusing on operational management, financial integration, and organizational optimization to enhance management efficiency and lay a solid foundation for future business collaboration [2] - Strategic planning efforts include multiple discussions between the management teams of both companies to develop the "15th Five-Year Plan," aiming to guide future development and promote high-quality growth [2] - In marketing, the company is leveraging synergies with China Resources to enhance market cooperation for key products and establish collaborative mechanisms for new product development [2] - The company plans to comprehensively advance the first-year integration work with China Resources Sanjiu, focusing on "value reshaping," "business reshaping," "organizational reshaping," and "spiritual reshaping" to systematically upgrade the management system [2]