三湘都市报2月24日讯 2月24日，记者从湖南省医保局官网获悉，《关于做好第十一批国家组织药品集 中采购中选结果执行工作的通知》（以下简称《通知》）已经发布，明确全省所有公立医疗机构将于2 月27日起，全面执行第十一批国家组织药品集中带量采购中选结果。 据了解，本次集采共有55种药品中选，覆盖抗感染、抗过敏、抗肿瘤、降血糖、降血压、降血脂、消炎 镇痛等领域常用药品。纳入品种不仅包括常见病慢性病用药，也涵盖了部分罕见病等疾病的治疗药物。 湖南省医保局还要求，各级公立医疗机构必须优先采购和使用带量采购中选药品，应畅通中选产品进院 渠道，不得以配送企业数量或其他限制性条件为由阻碍中选产品进院。要通过医保招采管理系统进行采 购交易，不得网外线下和非规定渠道采购药品；不得进行网外议价和任何形式的价格折扣等变相药品价 格加成行为。在确保完成中选产品约定采购量的前提下，医疗机构根据临床需要，可采购价格适宜的未 中选产品，避免出现"一刀切"停用非中选产品情况。 ■文/视频 全媒体记者 高煜棋 通讯员 乔木 集采落地后实施的药品价格降幅明显，将减轻患者一定的医疗负担。以用于治疗特发性肺纤维化的乙磺 酸尼达尼布软胶囊为例，集采前 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600538 证券简称：国发股份 公告编号：临2026-005 北海国发川山生物股份有限公司 关于上海证券交易所对公司业绩预告相关事项问询函的回复公告 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。 公司预计2025年度实现营业收入约3.3亿元，扣除与主营业务无关的业务收入和不具备商业实质的营业 收入仍为3.3亿元；归属于母公司所有者的净利润-0.85亿元。请公司补充披露：（1）根据《上海证券交 易所上市公司自律监管指南第2号一一业务办理》附件第七号《财务类退市指标：营业收入扣除》有关 规定，说明营业收入扣除相关情况，包括但不限于扣除项目、金额、相关业务开展情况及扣除原因等， 并逐项核实并说明是否存在其他应当扣除尚无扣除的情况；（2）按主要产品类别或业务板块，列示 2025年度预计实现营业收入的具体金额、占比、毛利率及同比变动情况，并说明主要影响因素；（3） 各业务板块前五大客户情况，包括客户名称、合同签订时间、合作期限、是否新增客户或关联方、销售 内容、销售金额、应 ...

日前，记者从省医保局获悉，全省所有公立医疗机构将于2月27日起全面执行第十一批国家组织药品集 中带量采购中选结果。 本次集采共有55种药品453个产品中选，覆盖抗感染、抗过敏、抗肿瘤、降血糖、降血压、降血脂、消 炎镇痛等领域常用药品。纳入品种不仅包括常见病慢性病用药，也涵盖了部分罕见病等疾病的治疗药 物。以用于治疗特发性肺纤维化的乙磺酸尼达尼布软胶囊为例，集采前，患者每月药费高达7000余元， 对普通家庭而言负担沉重，集采后每月仅需数百元，患者经济压力明显减轻。 据悉，我省将持续推进集采提质扩面，加强集采全流程管理，积极推进集采药品"三进"行动，提高集采 药品可及性，切实减轻群众用药负担。（记者韩林芳） 第十一批药品集采围绕"稳临床、保质量、反内卷、防围标"，作出一系列集采规则的重大优化。稳临床 方面，优化医疗机构报量方式，允许按厂牌报量，中选品牌与临床需求匹配度高，大部分情况下，医疗 机构无需更换品牌即可用上价格更便宜的中选药品。保质量方面，积极回应社会对集采药质量的关切， 提高企业投标质量门槛，新增2年以上同类剂型生产经验、通过GMP符合性检查等要求。反内卷方面， 坚持"新药不集采""市场规模小的品种不集 ...

Core Viewpoint - Shanghai Yan'an Pharmaceutical Yangpu Co., Ltd. has submitted a new application for listing on the Beijing Stock Exchange, marking its second attempt to enter the A-share market after withdrawing its initial application in September 2024 due to various concerns [1][11]. Financial Performance - From 2022 to 2024, the company's revenue increased from 323 million to 467 million, and net profit rose from 49.35 million to 84.44 million, maintaining a growth trend. However, in the first half of 2025, revenue fell by 12% year-on-year to 220 million, and net profit plummeted by 47% to 33 million, nearly halving [2][12]. - The gross margin of the main business declined from 51.04% in 2022 to 47.91% in the first half of 2025, with a significant drop of 4.59 percentage points year-on-year in 2025 [3][14]. Business Segments - The gross margin for the core formulation business decreased by 4.27% to 54.45%, while the raw material business saw a decline of 4.96% to 32.24%. Other business segments experienced a drastic drop of 41.66% [3][14]. - The company's core product, Gliclazide sustained-release tablets, successfully won bids in national centralized procurement, which provided stable market share but pressured margins due to significant price reductions [4][14]. Cash Flow and R&D Investment - The net cash flow from operating activities fluctuated significantly, with figures of 126 million, 141 million, 69.35 million, and 19.89 million, leading to a declining ratio compared to net profit. In the first half of 2025, the net cash flow was only 67% of net profit, indicating potential issues with cash flow quality [5][15]. - R&D investment has been notably insufficient, with R&D expenses decreasing from 17.04 million in 2022 to 5.52 million in the first half of 2025, and the R&D expense ratio dropping from 5.28% to 2.51% [6][17]. Supplier and Customer Concentration - The company has high supplier concentration, with the top five suppliers accounting for 77.38% to 72.84% of purchases during the reporting period, which may affect bargaining power and supply stability [7][17]. - Sales to the top five customers represented 60.25% to 63.51% of total sales, indicating a heavy reliance on a few major clients, which poses risks to business independence and resilience [8][18]. Governance and Compliance Issues - The company has faced multiple regulatory warnings for information disclosure violations, receiving four disciplinary measures from the National Equities Exchange and Quotations [9][19]. - Frequent changes in key positions, particularly the secretary of the board, have raised concerns about governance stability, reflecting underlying issues in corporate management [9][19]. - Historical issues with performance-based agreements have resulted in significant financial obligations, including cash compensation of 24.48 million due to unmet performance targets [10][20]. IPO Plans and Production Capacity - The company plans to raise 358 million through its IPO, primarily for production line construction and R&D center projects. However, the necessity of this expansion is questioned given the fluctuating capacity utilization rates [10][21]. - The production capacity utilization for tablets peaked at 127.71% in 2023, while capsule utilization was only 62.47% in the first half of 2025, indicating potential overcapacity and operational unpredictability [10][21].

Core Insights - The centralized drug procurement program in Shaanxi has been implemented, covering 216 specifications of 16 drug varieties, with an average price reduction of 51.46% [1][2] - The program is expected to save medical institutions in Shaanxi approximately 1.443 billion yuan in the first year [1] - The initiative aims to ensure a stable supply of drugs by allowing multiple companies to win bids, thus avoiding supply risks associated with single-source procurement [1] Group 1 - The procurement project is the first in Shaanxi to save over 1 billion yuan, with a focus on commonly used drugs for cardiovascular and digestive conditions [1] - A total of 202 companies participated in the bidding process, submitting 505 products, which enhances competition and ensures diverse supply [1] - For example, the price of a commonly used drug for liver disease was reduced by 4.11 yuan per unit, saving patients over 80 yuan per treatment course [1] Group 2 - The provincial government has issued execution documents to clarify responsibilities for all parties involved, ensuring timely and sufficient delivery of drugs [2] - The centralized procurement is part of broader healthcare reforms aimed at reducing inflated drug prices and improving the market environment [2] - Shaanxi plans to continue optimizing drug procurement during the 14th Five-Year Plan, expanding the range of covered products to benefit more residents [2]

2026.01. 29 本文字数：2680，阅读时长大约4分钟 作者 | 第一财经 黄思瑜 预计业绩亏损超3亿元、年度业绩首亏，哈三联（002900.SZ）披露业绩预告后，1月29日股价大幅 低开，重挫7.84%。 根据28日晚间的公告，哈三联预计2025年归母净利润亏损3.15亿元～3.75亿元，同比下降636.85% ～739.11%，销售单价下降、营业成本及期间费用同比增加、计提单项大额信用减值损失等是业绩 亏损的原因。 该公司的业绩自2025年一季度开始出现亏损，亏损金额逐季扩大。业绩恶化的背后，哈三联主业医 药板块业绩承压，向动物保健和大健康领域转型，但尚未形成有效业绩支撑。 上市以来年度业绩首亏 哈三联自2017年9月份上市，上市后业绩虽有些年度出现下滑，但是归母净利润一直处于盈利状态， 直至2025年度业绩首度出现亏损。 在2024年盈利超5000万元的基础上，2025年度，该公司预计，归母净利润亏损3.15亿元～3.75亿 元，同比下降636.85%～739.11%；扣非后归母净利润同比下降691.73%～804.44%；基本每股收 益为-1.19元/股至-1元/股区间。 同时，哈三联预计，2 ...

Core Viewpoint - The company, Harbin Sanlian (哈三联), is facing significant financial challenges, with an expected net loss of 315 million to 375 million yuan for the fiscal year 2025, marking its first annual loss since its listing in 2017 [1][2]. Financial Performance - The projected net loss for 2025 represents a year-on-year decline of 636.85% to 739.11% compared to the previous year, with a basic earnings per share expected to be between -1.19 yuan and -1 yuan [2]. - The company's revenue for 2025 is anticipated to be 790 million yuan, a decrease of 30% or 343 million yuan from the previous year [3]. Causes of Decline - The decline in performance is attributed to several factors, including a drop in sales prices due to national drug procurement policies and increased competition in the market [3]. - The company has reported a significant increase in operating costs and expenses, with sales expenses expected to rise by over 23.5 million yuan, primarily due to investments in the health sector [3]. - A substantial credit impairment loss of 24.626 million yuan has been recognized, primarily related to two counterparties [4]. Business Transition - The traditional pharmaceutical business of the company is under pressure, and its transition into animal health and wellness sectors has not yet yielded effective financial support [5]. - The pharmaceutical segment remains the core business, contributing over 86% of total revenue, but has seen a continuous decline in revenue and gross margin [6][7]. Market Position and Strategy - The company has made efforts to diversify into animal health and wellness, but these segments currently contribute only a small fraction (approximately 3.65%) of total revenue [7]. - Harbin Sanlian has participated in industry exhibitions to promote its cosmetic and medical products, indicating a strategic shift towards beauty and health markets [7]. Shareholding and Investments - As of the third quarter of 2025, the company still holds a 4.5% stake in Fulejia (敷尔佳), which is currently the only profitable investment among its subsidiaries [8].

Core Viewpoint - Harbin Sanlian Pharmaceutical (002900.SZ) has announced its first annual loss since its A-share listing in 2017, with a projected revenue of 790 million yuan for 2025, a decrease of 30% year-on-year, and a net loss estimated between 315 million to 375 million yuan [2][4]. Revenue and Profitability - The company's revenue is expected to drop by 343 million yuan compared to the previous year, primarily due to a significant decline in sales prices and rigid costs [2][4]. - The basic earnings per share are projected to be between -1.19 and -1 yuan [2][4]. - The net profit attributable to shareholders is forecasted to be -375 million yuan, marking a 739.11% decline year-on-year [4]. Price Pressure and Market Competition - A major factor in the company's poor performance is the decline in sales prices, particularly due to the implementation of centralized drug procurement policies, which have severely impacted the prices of core products [3][4]. - The product "Injection of Yanhuning" is facing an average price drop of 86% due to competitive pressures from 31 companies participating in the procurement [5][6]. - The "Ondansetron Hydrochloride Injection" has seen a price reduction of 56.85% after entering the procurement process, leading to a 37.91% decline in revenue despite increased sales volume [8]. Asset Impairment and Expenses - The company has faced significant asset impairments, with a total of 59.49 million yuan in impairment provisions impacting net profit by over 55 million yuan [11][12]. - Inventory write-downs, particularly for "Injection of Yanhuning," have resulted in a reduction of over 87% in recoverable amounts, contributing to the overall financial strain [11][12]. - High fixed expenses have not decreased in line with revenue, leading to increased expense ratios [13]. Strategic Moves and Future Outlook - In response to the challenges, the company is attempting to pivot towards a health-oriented business model, including the establishment of a new division focused on synthetic biology and the launch of new beauty products [14][18]. - However, the beauty industry is highly competitive, and the synthetic biology sector requires significant investment and long development cycles, posing additional challenges for the company [18].

Core Viewpoint - The company Hasi Lian (002900) is expected to report a significant loss in 2025, with a projected net profit attributable to shareholders ranging from -315 million to -375 million yuan, indicating a shift from profit to loss year-on-year [2] Financial Performance - The company's anticipated total revenue for 2025 is approximately 790 million yuan, reflecting a year-on-year decrease of 343 million yuan, or 30% [2] - The decline in revenue is attributed to the impact of national drug procurement policies and intense competition in the market for certain non-procurement products [2] Cost and Profitability - The gross profit, calculated as revenue minus operating costs, is insufficient to cover sales, management, and research and development expenses, leading to a challenging financial situation for the company [2] - The direct cause of the performance decline is identified as a significant drop in sales prices [2]

Core Viewpoint - The company, 哈三联, is forecasting a significant net loss for the year 2025, with expected losses ranging from 315 million to 375 million yuan, primarily due to declining sales prices and increased costs [1] Group 1: Financial Performance - The projected total revenue for 2025 is expected to be 790 million yuan, representing a year-on-year decrease of 343 million yuan, or 30% [1] - The gross profit after deducting operating costs is insufficient to cover selling, administrative, and R&D expenses due to the decline in product sales prices while unit costs remain stable [1] Group 2: Cost and Expense Analysis - Sales expenses are expected to increase by over 23.5 million yuan, attributed to higher investments in the health sector and the establishment of a new office in Hangzhou [1] - Depreciation expenses are projected to rise by over 31 million yuan due to the completion of construction projects [1] - Losses from inventory write-offs are anticipated to increase by approximately 14.5 million yuan, mainly due to expired inventory and production inefficiencies [1] - Financial expenses are expected to rise by over 15 million yuan [1] Group 3: Impairment and Non-Recurring Losses - The company plans to fully recognize a significant credit impairment loss of 24.626 million yuan related to transactions with specific partners [1] - Non-recurring losses include approximately 7 million yuan from asset disposals and a fair value loss of 11.31 million yuan from investments in a Hong Kong stock [1]