Core Points - The document outlines the external investment management measures of Beijing Tongrentang Co., Ltd. to regulate investment activities, enhance legal benefits, and reduce risks [1] - The external investment refers to the company's activities aimed at obtaining future returns through monetary funds, equity, and other legally permissible assets [1] - The management structure for external investments includes the shareholders' meeting as the highest decision-making body, with the board of directors and management responsible for investment decisions [2][3] Chapter Summaries Chapter 1: General Principles - The purpose of the external investment management measures is to ensure compliance with laws and regulations, align with national industrial policies, and enhance the company's core competitiveness [1] - The measures apply to the company and its subsidiaries [1] Chapter 2: Organizational Management - The shareholders' meeting is the highest decision-making body for external investments, while the board of directors and management handle specific investment decisions [2] - A dedicated external investment management department is established to execute and implement investment projects [2] Chapter 3: Authority and Approval - A strict review and decision-making process is established for external investments, requiring approval from the board of directors and shareholders for major projects [3][4] - Related party transactions must follow additional approval procedures [3] Chapter 4: Investment Management - The investment management process includes five stages: screening, project initiation, review, implementation, and post-investment management [4] - Investment projects must align with national laws and company policies, and a project initiation report must be submitted for approval [5] Chapter 5: Transfer and Recovery of Investments - The company can recover investments under specific circumstances, such as project completion or bankruptcy [7] - Investment transfers are permitted if projects deviate from the company's strategic direction or show continuous losses [8] Chapter 6: Information Disclosure - The company must adhere to legal obligations for information disclosure regarding investment activities [9] - Subsidiaries are required to appoint a liaison for communication with the board regarding investment disclosures [9] Chapter 7: Supplementary Provisions - Any matters not covered by these measures will follow national laws and regulations [9] - The board of directors is responsible for interpreting these measures, which take effect upon approval by the shareholders' meeting [9]

25 省中成药集采落地 投资要点： 本报告的风险等级为中高风险。 本报告的信息均来自已公开信息，关于信息的准确性与完整性，建议投资者谨慎判断，据此入市，风险自担。 请务必阅读末页声明。 医药生物（申万）指数走势 -35% 资料来源：iFind，东莞证券研究所 相关报告 10% 医药生物 沪深300 -5% 0% 5% 10% 医药生物 沪深300 超配（维持） 医药生物行业双周报（2025/6/13-2025/6/26） 业 周 报 医药生物行业 -30% -25% -20% -15% -10% -5% 0% 5% 10% 医药生物 沪深300 -35% -30% -25% -20% -15% -10% 5% -35% -30% -25% -20% -15% -10% -5% 0% -40% -20% 0% 20% 行 业 研 究 22-03 22-05 22-07 22-09 22-11 23-01 23-03 医药生物 沪深300 -35% -30% -25% -20% -15% -10% -5% 0% 5% 10% 医药生物 沪深300 2025 年 6 月 27 日 分析师：谢雄雄 SAC 执业证书编 ...

以下文章来源于巅峰烘焙营销 ，作者韩承恩 巅峰烘焙营销 . 创新改变未来，营销创造奇迹，细节决定成败！传递正能量，烘焙新天地！ 当同仁堂决定"不务正业"玩烘焙，它带进新战场的不是烤箱说明书，而是 数百年积累的"独门秘籍"：海量优质药材资源、深厚的"药食同源"文化底蕴 ， 以及深入人心的"健康信赖感"。 旗下 "知嘛健康" 品牌，正是这场跨界的主角。一杯"枸杞拿铁"，中西合璧，养生提神；一块"茯苓饼"，酥脆香甜间暗藏健脾宁心的功效... 同仁堂巧 妙地将"苦口良药"变成了"可口良品"，精准击中了现代人对"美味与健康兼得"的强烈渴望。 这波操作，堪称老字号资源禀赋的"华丽转身"。 "你能想象，抓了几百年中药的同仁堂，如今店里最火的不是人参鹿茸，而是飘着枸杞香的面包和咖啡吗？这个根植于中医药的百年老字号，正以一场 '美味养生革命'，强势跨界烘焙赛道，并交出了'月入千万'的亮眼成绩单！ 这不仅仅是卖面包那么简单，这是 一场传统智慧与现代消费需求的巧妙碰撞 。同仁堂究竟施了什么'魔法'，让'药香'成功飘进了烘焙房？" 一、百年药企跨界，掀起市场波澜 药柜旁飘面包香！百年老字号的"不务正业"赢在哪？ 二、产品创新，"药食 ...

Group 1 - The 2025 PDI Pharmaceutical R&D and Innovation Conference highlighted key themes such as innovative drug development, antibody drugs, clinical development technology, and traditional Chinese medicine innovation [1] - Yiling Pharmaceutical (002603.SZ) ranked second in the 2025 China Traditional Chinese Medicine R&D Strength Ranking, showcasing its excellence in TCM research [1] - Founded in June 1992, Yiling Pharmaceutical focuses on the R&D, production, and sales of patented innovative TCM, while also expanding into biopharmaceuticals and health industries [1] Group 2 - Yiling Pharmaceutical has invested approximately 5 billion yuan in R&D over the past five years, maintaining a leading position in the industry [2] - The company holds 17 patented TCM products covering eight major clinical disease systems, with significant advancements in cardiovascular and respiratory disease medications [2] - Yiling Pharmaceutical has received multiple national and provincial research project awards, including one first-class and four second-class National Science and Technology Progress Awards, and has over 400 TCM invention patents [2] Group 3 - Looking ahead, Yiling Pharmaceutical aims to strengthen its unique position among leading companies through theoretical innovation, comprehensive industry chain layout, high R&D investment, and international practices [2] - The company plans to optimize its cost structure, expand its range of indications, and continuously develop new products to enhance its competitive advantage in the market [2]

Core Insights - The company is transforming its traditional manufacturing processes through smart manufacturing and AI technology, enhancing efficiency and product quality [1][2] - Financial performance shows significant growth, with revenue increasing from 3.849 billion to 5.921 billion and net profit rising from 440 million to 1.557 billion from 2021 to 2024 [1] - The company is focusing on digital transformation of its supply chain, which has led to an increase in gross margin from 47.57% in 2019 to 72.42% in 2024 [2] Digital Transformation and Product Development - The company is implementing AI-driven quality control and IoT-based environmental monitoring to enhance manufacturing capabilities [2] - New product lines such as "Peach Blossom Princess" and "Dong'e Ejiao Little Gold Bar" are expanding market reach and catering to consumer preferences [2] - The company is targeting the male health market, developing products like Ejiao and Cistanche raw liquid to create a comprehensive product matrix [2][3] Future Strategy and R&D Focus - The company plans to integrate primary, secondary, and tertiary industries to enhance resource supply, product innovation, and cultural tourism [3] - Five key R&D areas have been identified: innovation in gelatin-based medicines, major variety cultivation, new drug development, health consumer product development, and leading the donkey industry [3] - Increased investment in R&D and the establishment of a high-standard innovation system are priorities to enhance core competitiveness [3]

Core Insights - The Chinese pharmaceutical industry is undergoing a new round of deep integration driven by policy guidance and market demand [1][2] - China National Pharmaceutical Group (Sinopharm) has announced acquisitions of two listed companies, Plasmed Biopharma and Shandong Pharmaceutical Glass, exemplifying recent M&A activity in the sector [1][2] Industry Trends - State-owned enterprises are becoming the main players in the M&A market, significantly altering the competitive landscape with their strong financial capabilities and resource integration skills [2][3] - Major industry players like Sinopharm, China Resources Pharmaceutical Group, and China General Technology Group are building competitive advantages across the entire supply chain through horizontal and vertical integration [2][3] Company Strategies - Sinopharm is focusing on strengthening its acquisition and integration strategies, aiming to enhance its market position in the health sector [3][4] - The acquisition of Plasmed Biopharma and Shandong Pharmaceutical Glass will allow Sinopharm to consolidate its supply chain, ensuring the safety and stability of the biopharmaceutical supply chain [4][6] Market Dynamics - The blood products sector is particularly strategic due to the limited number of licenses available since 2001, making existing licenses and plasma stations highly valuable [4][5] - Following the acquisition, Sinopharm's combined plasma collection volume from its subsidiaries is expected to exceed 4,181 tons, accounting for 31.2% of the national total [4][5] Financial Performance - Shandong Pharmaceutical Glass, as a leading player in the pharmaceutical glass sector, reported a revenue of 5.125 billion and a net profit of 943 million in 2024, marking 12 consecutive years of growth [5][6] Future Outlook - The M&A trend in the pharmaceutical industry is expected to evolve towards integrated supply chain acquisitions, cross-border expansions, and innovative ecosystem constructions [7]

Core Insights - Dong'e Ejiao is leveraging digital transformation and automation to enhance production efficiency and quality control [1][2][3] Group 1: Production Innovations - Dong'e Ejiao has replaced manual glass bottle inspections with automated light inspection machines, improving accuracy and reducing worker fatigue [1] - The company has developed a six-axis robot for bottle handling, reducing the number of operators needed from five to two, thus lowering labor intensity [1] Group 2: Digital Management Systems - A digital signage production warning system has been implemented to achieve digital and visual management of the production process [2] - The optimization of the production and sales collaboration platform in 2024 has led to a 30% increase in planning accuracy, with main product planning accuracy exceeding 90% [2] Group 3: Supply Chain and Resource Management - Dong'e Ejiao has established a smart supply chain system that utilizes AI to predict and manage raw material supply, ensuring timely delivery [3] - The company has integrated technology and industry innovation to create a comprehensive digital system covering research, production, supply, sales, and inventory [3]

Group 1 - Jiuxin Traditional Chinese Medicine Group donated medical protective materials worth 120,000 yuan for the "Love Care Class" summer volunteer service project in Hubei [1] - The Hubei Volunteer Association mobilized over 900 volunteer teams from 91 universities, with nearly 20,000 student volunteers participating in the project [3] - The donation from Jiuxin Traditional Chinese Medicine reflects corporate social responsibility and provides strong support for the project's smooth implementation [3] Group 2 - The volunteer representative expressed gratitude, stating that the donated materials are like timely rain in the hot summer, motivating them to provide meaningful service to children [5] - Jiuzhoutong Pharmaceutical Group's Vice President emphasized the company's commitment to public welfare and the promotion of traditional Chinese medicine through such initiatives [6] - Jiuzhoutong's total donations for 2024 exceeded 18 million yuan, with 21 rural revitalization projects, and it was recognized as an "ESG Model Enterprise" [6] - Jiuxin Traditional Chinese Medicine has developed traceable Chinese medicinal material bases in various regions, contributing to a production value of approximately 10 billion yuan and benefiting over 50,000 farmers [6]

Group 1: Ecological Restoration and Agricultural Development - The article highlights the successful ecological restoration and agricultural development in areas previously deemed uninhabitable, such as Dengkou County and Keping County, showcasing the transformation of barren lands into productive ecosystems [1][6][19] - Dengkou County has implemented a comprehensive strategy for desertification control, establishing three ecological defense lines and significantly increasing vegetation coverage from 0.04% to 39.1% [3][6] - The county has become the largest artificial production base for the medicinal herb "Rou Cong Rong," with over 120,000 acres planted and an annual output of more than 700 tons, contributing to both ecological restoration and economic development [4][6] Group 2: Innovative Agricultural Practices - Keping County has initiated a land reclamation project, transforming 5,300 acres of previously barren land into productive wheat fields, achieving an average yield of 460 kg per acre, totaling over 2,400 tons [7][10] - The project involved advanced techniques and expert guidance for soil improvement and irrigation optimization, alongside financial support and training for local farmers [8][10] - The success of the wheat trial has encouraged local farmers to expand their cultivation areas, indicating a positive outlook for future agricultural endeavors in the region [10] Group 3: Economic Impact and Community Benefits - The ecological improvements have led to tangible economic benefits for local communities, with residents witnessing increased income from agricultural activities, such as the reported annual income of 80,000 yuan for workers in the Rou Cong Rong base [4][6] - The transformation of the land has not only improved the environment but also provided new opportunities for local farmers, enhancing their livelihoods and fostering a sense of hope for the future [10][19] - The article emphasizes the broader implications of these local successes, suggesting that they serve as replicable models for global ecological governance and sustainable development [19]

该县纪委监委以灵芝深加工健康产业建设为监督切口，聚焦项目审批、资金管理、惠企政策落地、项目 验收等关键环节，紧盯招投标暗箱操作、权钱交易、履职不力等方面问题，对产业发展全过程跟进监 督。深化运用"室组地+职能部门"联动监督力量，通过定期会商、常态调度、及时通报等机制，对中药 材制品生产加工、生物医药成果转化基地、灵芝产品标准化建设等6个重点项目开展监督检查，推动整 改问题15个，处理2人，保障项目建设廉洁高效。 "我们将继续加强对项目运行、资金管理、干部作风等环节的监督检查，及时发现背后的责任、作风和 腐败问题，以有力监督推动乡村振兴特色产业发展成果更多惠及群众。"该县纪委监委有关负责同志 说。（通讯员 韩雪春） 近日，在安徽省旌德县云乐镇灵芝种植基地内，一根根粗壮白胖的灵芝椴木菌棒整齐摆列，三五成群的 工人正手脚麻利地忙着挖坑、搬运、覆土、盖膜。"补贴政策有没有落实到位？农技专家来指导了 吗？"种植基地里，前来走访的云乐镇纪委书记吴万志与种植户面对面交流，详细了解技术管理、种植 规模及补贴等各项政策落实情况。 该县纪委监委还不断强化科技赋能监督，建立大数据模型，对接农业农村、财政、审计、人社等部门， 获取乡 ...