从业务构成来看，医药行业仍然是佛慈制药的绝对主力，收入为4.29亿元，收入占比达99.85%。公司持 续优化营销架构与市场布局，加强渠道开发与管理，全力提升产品市场占有率。一是拓展市场，巩固西 北，发力华南、华东、华北、西南及海外，提升覆盖率与份额。二是拓宽渠道，差异化运营，整合京 东、天猫等电商，实现线上线下（300959）融合。三是强化管控，依托"码上放心"系统构建全链条管理 体系，严格价格监督。四是深化推广，开展经销商会议、培训及终端促销活动，结合节日推动销售。 8月26日晚间，佛慈制药（002644）发布了2025年半年度报告。报告显示，在医药制造业整体下滑的背 景下，公司上半年营业收入为4.29亿元，相较上年同期有所下降；归属于上市公司股东的净利润为 3010.46万元；经营现金流1788.09万元，成功实现转正，同比增长364.33%。值得注意的是，公司净资 产同比增长率平均为2.69%，处于行业头部水平。 公司全力推进品牌建设，通过"非遗传承+权威认证+多元传播"组合拳，斩获行业多项殊荣，"佛慈"品牌 荣获首批中国消费名品名单中的医药行业"时代优品"，"佛慈"六味地黄丸成功通过"陇字号"首批品牌 ...

Financial Performance - In 2024, the company achieved operating revenue of 98,022.54 million CNY, with a net profit attributable to shareholders of 6,006.98 million CNY, reflecting a decline due to economic conditions, healthcare policy changes, and intensified industry competition [2][3] - In Q1 2025, the company reported operating revenue of 21,612.47 million CNY, a year-on-year decrease of 21.22%, while net profit attributable to shareholders increased by 5.41% to 1,938.16 million CNY [3] - The net cash flow from operating activities in Q1 2025 was 811.04 million CNY, showing a significant year-on-year growth of 150.46% [3] Product Sales and Strategy - The top-selling products in 2024 included Liuwei Dihuang Wan, Xiaoyao Wan, and others, with the top ten products accounting for nearly 50% of total revenue [3] - The company plans to continue developing major products and enhance market share for traditional concentrated pill products [3] Cost Management and Profitability - The increase in gross and net profit margins in Q1 2025 was attributed to optimized marketing channel management, diversified sales strategies, and a decrease in raw material costs [3] - The decline in sales expense ratio in 2024 and Q1 2025 was primarily due to a decrease in operating revenue and effective cost control measures [4] Market Expansion and Subsidiary Management - The company aims to strengthen its presence in traditional markets while expanding into Southern China and international markets [4] - The subsidiary Longnan Foci was dissolved due to changes in market conditions and lack of business operations, with future plans focusing on core business efficiency [5] Strategic Planning and Future Outlook - The company is currently developing its "14th Five-Year" strategic plan, focusing on marketing, R&D innovation, digital transformation, and management improvement [5] - There are plans for potential mergers and acquisitions aimed at enhancing market channels and product development [5] - A shareholder dividend plan for 2024-2026 has been established to ensure reasonable returns to investors [5]