新京报讯（记者张秀兰）贵州百灵（002424）近日披露的三季报显示，在前三季度实现21.02亿元营收 的同时，净利润为5681.44万元。其中，公司前三季度经营性现金流量净额大幅增长至5.36亿元，第三季 度营业收入、归母净利润、扣非净利润等多项经营指标同比正向增长。 贵州百灵集苗药研发、生产、销售于一体，独家苗药产品银丹心脑通软胶囊、咳速停糖浆及胶囊和非苗 药产品金感胶囊、维C银翘片、小儿柴桂退热颗粒等为公司主要盈利产品。报告期内，贵州百灵持续推 进大单品战略，作为心脑血管疾病治疗领域常用药，银丹心脑通软胶囊覆盖全国超2.4万家基层公立医 疗机构，年销量达5000万盒，年服务患者2000万人次。据米内网数据，今年上半年，银丹心脑通软胶囊 跻身中国乡镇卫生院和城市社区市场中成药品牌榜，分别位列第6、第13，尤其在乡镇卫生院市场药品 销售额同比下滑7.55%的情况下，仍实现6.48%的逆势增长。进入第四季度传统医药消费旺季，公司感 冒类、心脑血管类等产品有望进一步放量。 与此同时，贵州百灵还构建起覆盖感冒、胃肠、骨科、儿科、妇科等领域的品类集群，深挖咳速停糖 浆、小儿柴桂退热颗粒、双羊喉痹通颗粒等产品市场潜力， ...

Core Insights - Guizhou Bailing reported a revenue of 2.102 billion yuan and a net profit of 56.81 million yuan for the first three quarters of 2025, with a positive operating cash flow of 536 million yuan [1] - The company experienced growth in Q3, with revenues, net profit, and net profit excluding non-recurring items reaching 640 million yuan, 4.98 million yuan, and 7.36 million yuan respectively [1] Group 1: Business Strategy - Guizhou Bailing is enhancing its operational capabilities by deepening product value, strengthening R&D innovation, and improving its marketing system [1] - The company is actively expanding its overseas presence and exploring new investment opportunities to create a "second growth curve" [1] - The company is focusing on its major products, particularly in the cold and cardiovascular categories, which are expected to see increased sales in Q4 [1] Group 2: Product Development - The company is implementing a big product strategy, with the Yindan Xinnaotong soft capsule showing strong growth, covering over 24,000 public medical institutions nationwide and achieving annual sales of 50 million boxes [2] - Guizhou Bailing has established a product cluster under the "Bailing Bird" brand, covering various therapeutic areas and is optimizing its pricing strategy to enhance overall gross margin [2][3] Group 3: Research and Innovation - The company is focusing on major clinical needs such as metabolic diseases and malignant tumors, with multiple research directions yielding results [2] - Recent approvals for clinical trials, including for the treatment of diabetic retinopathy and type 2 diabetes, demonstrate the company's commitment to innovation [2][3] Group 4: Sales and Marketing - Guizhou Bailing is reforming its direct sales model, achieving steady profit growth in regions where the reform has been implemented [3] - The company is enhancing its sales efficiency and cash flow, with a significant increase in operating cash flow during the reporting period [3] - A new marketing system has been established, focusing on different core products and implementing tailored strategies for refined operations and scientific management [3]