今年第三季度，昆药集团大单品血塞通软胶囊通过加强全渠道覆盖与海外拓展，实现境内外多渠道销 售。境内方面，该公司777事业部与华润圣火加速融合，基于战略共识完成深度重构，强化理洫王血塞 通软胶囊在基础人群和络泰血塞通软胶囊在特殊高端人群的双品牌协同，实现产品的精准化产品定位。 海外方面，血塞通软胶囊正式登陆印尼市场，成功拓展东盟三七制剂版图，未来计划在印尼及周边国家 开展更深入的临床研究与学术交流，以学术价值推进产品在东南亚卒中患者群体中的渗透，为长期海外 增量奠定基础。 精品国药领域，面对线下零售整合与线上购药分流并行的行业格局，昆药集团加速构建集约化商道体 系，聚焦库存优化、动销改善、品牌传播三大目标，着力推动"昆中药1381"品牌升级和新产品系列预热 筹备。渠道方面，公司持续加强广域覆盖，集中资源重点攻坚KA连锁、医疗渠道、商销网络和商品推 广四大场景，同时强化动销体系及队伍建设，以昆中药参苓健脾胃颗粒、舒肝颗粒为核心主品，通过精 细化推广开展专项动销提升行动。 发力新药研发 本报讯 （记者李如是）10月24日晚间，昆药集团股份有限公司（以下简称"昆药集团"）披露2025年第 三季度报告。在行业调整周期的 ...

报告期内，大单品血塞通软胶囊通过加强全渠道覆盖与海外拓展，实现境内外多渠道销售。境内方面， 777事业部与华润圣火加速融合，基于战略共识完成深度重构，强化理洫王血塞通软胶囊在基础人群和 络泰血塞通软胶囊在特殊高端人群的双品牌协同。海外方面，血塞通软胶囊正式登陆印尼市场，成功拓 展东盟三七制剂版图，未来计划在印尼及周边国家开展更深入的临床研究与学术交流。 今年以来，我国中医药行业身处政策引导转型与市场竞争重构的关键周期，院外医药零售端受医保控 费、药店整合深化的影响持续承压；院内医疗端随集采政策纵深推进，价格体系与竞争格局持续重塑， 传统营销模式面临显著冲击。综合来看，中药行业整体洗牌节奏持续加速，多数企业仍处于筑底调整阶 段，短期经营的压力客观存在。 10月24日，昆药集团(600422)披露2025年三季报。今年前三季度公司实现营收47.51亿元，净利润2.69亿 元。在行业调整周期的大背景下，昆药集团也难以完全规避行业周期波动带来的客观影响。 昆药集团表示，面对复杂多变的外部环境，公司管理层保持战略定力，坚持围绕"银发健康产业引领 者"战略定位。随着血塞通系列集采执标逐步落地、渠道重构持续深入及新品上市筹 ...

Core Viewpoint - Kunming Pharmaceutical Group is undergoing a strategic transformation to become a leader in the silver-haired health industry, marking a new entrepreneurial journey after being acquired by China Resources Sanjiu [1][4]. Group 1: Strategic Transformation - The company is implementing a "fusion + reform" dual-driven approach, focusing on building the "Kun Pharmaceutical Business Philosophy" system and deepening the layout of the Panax notoginseng industry chain [1][4]. - A clear roadmap for integration with China Resources Sanjiu has been established, aiming for a three-year integration period to complete the "four remakes" of value, business, organization, and spirit [4]. - The company is currently in a critical phase of "model reconstruction and deep channel transformation" [4]. Group 2: Digitalization and Channel Integration - Kunming Pharmaceutical Group is leveraging the digital capabilities of China Resources Sanjiu to shift its operational model from "experience-driven" to "data-driven" [4]. - The company is reforming its sales channel system by integrating its previously fragmented network, adopting the "Sanjiu Business Philosophy" to establish a centralized channel structure [4]. Group 3: R&D Collaboration - The company is collaborating with multiple research institutions in the silver-haired health field, combining the strengths of China Resources Sanjiu in resource integration and AI-assisted drug screening with its own expertise in natural drug research [5]. Group 4: Focus on Core Advantages - The new management has identified a need for focus, concentrating resources on the silver-haired health sector and establishing a dual-platform strategy of "chronic disease management + premium traditional Chinese medicine" [6][7]. - Kunming Pharmaceutical Group has a unique competitive advantage in the Panax notoginseng industry chain, with over 1,000 acres of GAP planting base and leadership in the establishment of the Yunnan Panax Notoginseng Research Institute [7]. Group 5: Innovative Business Model - The company has proposed an innovative three-in-one model of "medicines + medical services + emotional value," aiming to develop intelligent companion devices that integrate medical data and provide emotional support for the elderly [8]. Group 6: International Expansion - Kunming Pharmaceutical Group is actively pursuing internationalization, with 90 overseas registration applications submitted and 7 products approved as of mid-2025 [9]. - The company is a core supplier of artemisinin for global anti-malarial drugs and has established a strong international network for its products [10].

Core Viewpoint - Kunming Pharmaceutical Group aims to become a leader in the silver-haired health industry, marking a new entrepreneurial journey after being acquired by China Resources Sanjiu [1][2]. Group 1: Integration and Transformation - Following the acquisition, Kunming Pharmaceutical Group is undergoing a systematic restructuring, focusing on value, business, organization, and spirit over a three-year integration period [2]. - The company is transitioning its operational model from "experience-driven" to "data-driven" by leveraging digital tools developed with the support of China Resources Sanjiu [2][3]. - A significant channel reform is underway to consolidate its previously fragmented sales network, establishing a more centralized channel structure [3]. Group 2: Focus on Silver-Haired Health - The new management has prioritized focusing resources on the silver-haired health sector, moving away from previous scattered investments [4]. - The company has a strong foundation in natural medicine research, particularly in chronic disease management and elderly health [5]. - Kunming Pharmaceutical Group is implementing a dual-platform strategy focusing on chronic disease management and premium traditional Chinese medicine [5]. Group 3: Innovative Business Model - The company is developing a three-in-one model that combines pharmaceuticals, medical services, and emotional value, aiming to create a comprehensive health management ecosystem [6]. - Plans include the development of intelligent companionship devices that integrate medical data and AI to support elderly care [6]. Group 4: International Expansion - Kunming Pharmaceutical Group is actively pursuing international markets, particularly in traditional Chinese medicine, with a focus on plant-based medicines like Artemisinin and Sanqi [7]. - The company has submitted 90 overseas registration applications and has successfully registered 7 products, with its blood stasis remedy approved in 15 countries [7]. - The company aims to leverage its global network and expertise in Artemisinin to become a comprehensive international healthcare service provider [8].

Core Viewpoint - Kunming Pharmaceutical Group aims to become a leader in the silver-haired health industry, marking a new entrepreneurial journey after being acquired by China Resources Sanjiu [1][3] Group 1: Strategic Transformation - The company is undergoing a strategic transformation described as a "second entrepreneurship," focusing on a dual-driven approach of "integration + reform" [1][3] - A clear roadmap for integration has been established, with a three-year integration period to complete value, business, organization, and spirit restructuring [1][2] - The company is currently in a critical phase of "model reconstruction and deep channel transformation" [1] Group 2: Digitalization and Channel Integration - Kunming Pharmaceutical Group is leveraging China Resources Sanjiu's digital capabilities to shift its operational model from "experience-driven" to "data-driven" [2] - The company is reforming its sales channel system by integrating a previously fragmented network of distributors, establishing a more centralized channel structure [2] - The new channel system will focus resources on national brand building, laying a foundation for long-term development [2] Group 3: Research and Development Collaboration - The company is collaborating with multiple research institutions in the silver-haired health sector, combining strengths in resource integration and AI-assisted drug screening [2][3] - Joint research projects in traditional Chinese medicine are being explored, particularly in the field of specialty plant medicines [2] Group 4: Focus on Silver-Haired Health - The management has identified a need for greater focus in strategic planning, concentrating resources on the silver-haired health sector [3] - The company aims to leverage its historical expertise in natural medicine to enhance its offerings in chronic disease management and elderly health [3] Group 5: Innovative Business Model - An innovative business model combining "medicines + medical services + emotional value" is being developed to address the needs of the elderly [4] - The company plans to transition from a traditional pharmaceutical enterprise to a health management service provider, enhancing its research and digital capabilities [4] Group 6: International Expansion of Traditional Chinese Medicine - Kunming Pharmaceutical Group is actively pursuing international markets for traditional Chinese medicine, with a focus on plant-based medicines like artemisinin and Sanqi [5] - The company has submitted 90 overseas registration applications and successfully registered 7 products, with its blood stasis remedy approved in 15 countries [5] - The company aims to become a comprehensive international healthcare service provider, leveraging its global network and expertise in artemisinin products [5]

Core Viewpoint - The article highlights the transformation of Kunming Pharmaceutical Group's subsidiary, Kunzhongyao 1381, from a traditional pharmacy established in 1381 to a modern enterprise that embodies the unique value of traditional Chinese medicine in the context of an aging population [1][6]. Group 1: Heritage and Tradition - Kunzhongyao 1381 has a 600-year history that reflects the evolution from a local pharmacy to a national-level intangible cultural heritage enterprise, showcasing the enduring significance of traditional Chinese medicine [1][2]. - The company relies on the "Dian Nan Ben Cao," a significant pharmacological text, as a foundational reference for product development, documenting the use of 458 local medicinal materials [2]. - The traditional preparation methods of Chinese medicine, recognized as a national intangible cultural heritage, are preserved and integrated into the production processes, ensuring the quality and efficacy of their products [2]. Group 2: Innovation and Modernization - The company is adapting ancient wisdom to meet contemporary health needs, focusing on the emotional well-being of the elderly by modernizing classic formulas like Xiaoyao San into products such as Shugan Granules [3]. - Kunzhongyao has established a standardized planting base across multiple provinces, ensuring a reliable supply of authentic medicinal materials, which supports the preservation of traditional preparation techniques [3]. Group 3: Brand Strategy and Market Positioning - At the 2025 Health Industry Conference, Kunzhongyao 1381 announced a new brand positioning aimed at upgrading its brand and innovating its product line, emphasizing the integration of cultural heritage with high-quality Chinese medicine [4]. - The company is strategically positioned as a leader in the silver economy, aligning its offerings with the growing demand for chronic disease management and health maintenance among the elderly [6]. Group 4: Future Outlook - The Chinese government's policies promoting the use of traditional medicine in elder care create opportunities for Kunzhongyao to deepen its involvement in the silver economy [6]. - The company plans to leverage its century-old brand influence through a three-phase development strategy, focusing on establishing brand recognition, expanding high-quality product offerings, and promoting its brand globally [6].

Core Viewpoint - Kunming Pharmaceutical Group Co., Ltd. has received the drug registration certificate for Carbonate Sevelamer Dry Suspension, enhancing its product pipeline in the chronic kidney disease (CKD) management sector [1][2]. Drug Basic Information - The drug is named Carbonate Sevelamer Dry Suspension with a specification of 0.8g and is classified as a prescription chemical drug (Category 3) [1]. - The drug registration number is 国药准字 H20254872, and it is produced by Kunming Beikenuoton Pharmaceutical Co., Ltd. [1]. Drug Indications - The drug is indicated for controlling hyperphosphatemia in adult patients with chronic kidney disease undergoing dialysis and those with serum phosphorus levels ≥1.78 mmol/L who are not on dialysis [2]. Market Context - Carbonate Sevelamer tablets were developed by Genzyme and approved in the U.S. in 2007, with the dry suspension form approved in the U.S. and EU in 2009 [2]. - In China, there are 10 approved manufacturers for Carbonate Sevelamer tablets, while only 3 for the dry suspension form, including the company [2]. - The domestic sales of Carbonate Sevelamer tablets are projected to be approximately 1.39 billion RMB in 2024 [2]. R&D Investment - The company has invested approximately 13.18 million RMB in the research and development of Carbonate Sevelamer Dry Suspension to date [3]. Strategic Impact - The approval of the drug registration certificate is expected to enhance the company's competitiveness in the chronic disease management market and contribute to its strategic focus on the aging health industry [3].