证券代码：300937 证券简称：药易购 2025 年 8 月 21 日投资者关系活动记录表 编号：2025-003 | | 特定对象调研 □分析师会议 ☑ | | --- | --- | | 投资者关系活动 | □媒体采访 □业绩说明会 | | 类别 | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 | | 参与单位名称及 | 国信证券分析师：彭思宇、张超 | | 人员姓名 | | | 时间 | 2025 年 8 月 21 日 10:00-12:00 | | 地点 | 成都市温江区金府路中段 51 号 | | 上市公司接待人 | 公司副总经理兼董事会秘书：王明怡（线上参加） | | 员姓名 | 公司证券事务代表：梁椿季 | | | 公司投资者关系助理：温嘉欣 | | | 四川合纵药易购医药股份有限公司（简称"公司"或"药 | | | 易购"）于 2025 年 8 月 21 日接受特定对象实地调研交流，调 | | | 研的主要问题及回复情况如下： | | 投资者关系活动 | 1、公司后续战略规划情况 | | 主要内容介绍 | 回复：公司始终坚定院外市场与医药产业互联网发展道路， | | ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 窦茜茜自今年6月出任公司代董事会秘书后，此次正式担任董事会秘书，标志着其履职获得高层肯定。 根据2024年年报披露，窦茜茜就任副总经理的岗位薪酬2024薪酬为48万元，居管理层并列第一，体现了 董事会对其履职价值的认可。 窦茜茜历任山东福瑞达医药集团有限公司科技发展部副部长、项目拓展部部长、总经理助理，2023年10 月开始就任鲁商福瑞达医药股份有限公司副总经理。 值得注意的是，与董秘薪酬大幅增长形成鲜明对比的是，公司董事长却选择主动大幅降低年薪。根据年 报披露，其年薪从2023年的约110万元降至仅约4.96万元，显现出管理层在面对公司业绩承压或战略调 整时的责任担当，意在向市场和投资者传递管理层与股东利益同向的信号。 从公司整体概况来看，福瑞达作为"鲁商福瑞达医药股份有限公司"主导，大健康产业为发展核心，旗下 化妆品、医药及原料衍生板块构筑多元业务布局。 文/新浪财经上海站 陈秀颖 今日，福瑞达（代码：600223）迎来人事变动新进展：窦茜茜从"代董秘"晋升为正式董事会秘书。 2024年，福瑞达营业收入约39.83亿元，同比下降约1 ...

"十四五"以来，全国市场监管部门完善涉企收费监管制度，持续降低经营主体成本。加强知识产权和商业秘密保护，有效增强了经营主体的创新动力。数据显 示，"十四五"以来，我国企业净增1999.9万户，个体工商户净增3394.6万户。 市场监管总局局长罗文表示，"十四五"时期，推动出台《公平竞争审查条例》，对规制招商引资"恶性竞争"、违规财政奖补和限制企业迁移等问题形成了刚性制度 约束。持续开展制止滥用行政权力排除、限制竞争专项执法，发现和废除了阻碍要素流动的政策措施4218件，查处行政性垄断案件239件，及时纠治了地方保护、 市场分割等突出问题。 推动修订《公司法》《反垄断法》《反不正当竞争法》《广告法》以及计量、标准、认证认可、消费者权益保护等领域一批行政法规。"整个'十四五'期间，全国市 场监管部门共处理投诉举报8902.8万件，为消费者挽回经济损失217.1亿元；全国消协组织共受理消费者投诉574.9万件，挽回经济损失57.8亿元。"市场监管总局副 局长柳军表示。 服务企业办事更加高效。推动开办餐饮店、企业信息变更、企业迁移登记、"个转企"等"高效办成一件事"。罗文介绍，开办餐饮店时间由过去的37天减少至现在的 ...

人民财讯8月22日电，开开实业（600272）8月22日晚间披露2025年半年度报告，上半年实现营业收入 5.43亿元，同比增长10.95%；归母净利润1180.1万元，同比下降61.94%；基本每股收益0.049元。报告期 内，公司"大健康"战略转型的逐步深入，医药板块营业收入稳步增长，其中SPD项目实现营业收入约2.9 亿元，同比增长52%。归属于上市公司股东的净利润较上年同期减少，主要系公司上年同期确认房屋征 收补偿收益2843.93万元，影响归属于上市公司所有者的净利润2132.93万元，本期无同类补偿款项。 ...

报告期内，公司实现营业收入较上年同期增加5,362.29万元，增幅10.95%。主要系公司"大健康"战略转 型的逐步深入，医药板块营业收入稳步增长，其中SPD项目实现营业收入约2.9亿元，同比增长高达 52%。受国内消费市场调整影响，消费者对高档滋补品等非必需品消费更趋理性，致其销售规模及毛利 持续下滑。同时，公司服装板块虽以提质增效为核心推进综合改革，但受市场环境与消费心态变化制 约，行业仍处复苏期，报告期内服装业务销售规模及盈利能力亦有所下降。 格隆汇8月22日丨开开实业(600272.SH)公布2025年半年度报告，上半年实现营业收入5.43亿元，同比增 长10.95%；归属于上市公司股东的净利润1180.1万元，同比下降61.94%；归属于上市公司股东的扣除非 经常性损益的净利润300.84万元，同比下降8.67%；基本每股收益0.049元。 ...

Core Viewpoint - The A-share market's bull market does not guarantee profits for all industries, as there is significant divergence in performance among sectors, with some industries outperforming the market while others lag behind [1] Historical Bull Market Analysis - Historical data from the last decade indicates that each bull market's leading sectors are closely aligned with the prevailing development trends of the era [1] - In the 2005-2006 bull market, industries such as non-ferrous metals, non-bank financials, and real estate benefited from urbanization and economic reforms [1] - The 2014-2015 bull market saw a rise in TMT sectors due to the emergence of smart manufacturing and new consumption trends, alongside a stimulus-driven infrastructure boom [1] - Post-2019, sectors like liquor and pharmaceuticals thrived due to consumption upgrades, while the "dual carbon" policy led to a surge in carbon-neutral industries [1][2] Industry Performance in Bull Markets - The analysis of the top 10 performing industries in each bull market reveals that machinery, building materials, and defense industries consistently ranked high, with significant gains even in years they did not make the top 10 [3] ETF Investment Strategies - **Machinery Sector**: The machinery sector, particularly in engineering and robotics, has maintained high performance. The Tianhong CSI Robotics ETF (159770) has a significant scale of over 7 billion, indicating strong market interest [4] - **Defense Industry**: The defense sector has shown consistent high performance across all four major bull markets from 2000 to 2021, with ETFs like Guotai CSI Defense ETF (512660) and Fuguo CSI Defense Leaders ETF (512710) exceeding 10 billion in scale [6] - **Building Materials**: The building materials sector is expected to benefit from increased demand and supply adjustments, with ETFs like Guotai CSI All-Index Building Materials ETF (159745) showing scale advantages [7]

国家市场监督管理总局副局长柳军表示，整个"十四五"期间，全国市场监管部门共处理投诉举报8902.8 万件，为消费者挽回经济损失217.1亿元；全国消协组织共受理消费者投诉574.9万件，挽回经济损失 57.8亿元。全力化解消费纠纷，发展20余万家企业参与在线纠纷解决机制，推动直接和解1038.2万件。 【导读】市场监管总局突出强化直播电商乱象治理，加大违规行为监测处置力度 国家市场监督管理总局，重磅发声！ 8月22日上午，国务院新闻办公室举行"高质量完成'十四五'规划"系列主题新闻发布会，请国家市场监 督管理总局局长罗文，国家市场监督管理总局副局长柳军，国家市场监督管理总局副局长、国家标准化 管理委员会主任邓志勇，国家药品监督管理局副局长杨胜介绍"十四五"时期市场监管高质量发展成就， 并答记者问。 基金君整理此次发布会的重磅内容如下： ● 企业净增1999.9万户，个体工商户净增3394.6万户。 据国家市场监督管理总局局长罗文介绍，"十四五"以来，我国企业净增1999.9万户，个体工商户净增 3394.6万户。我国企业信用指数从2020年度的128.6上升到2025年上半年的161.61。 五年来，我国制造 ...

Group 1 - The core viewpoint is that Shaanxi Province's Shanzhou City is leveraging digital transformation to create a comprehensive policy delivery system that integrates government services, taxation, employment, and industry, aiming to eliminate barriers to the implementation of policies that benefit enterprises and the public [1][2] Group 2 - The establishment of a smart policy hub through the "Zhangshangban" platform integrates over 1,000 government services, achieving a satisfaction rate of 98% for service completion, with significant reductions in processing times for various administrative tasks [1][2] - The full-chain intelligent service model utilizes a tagging system for taxpayers, achieving a 98.5% reach rate to 6,604 enterprises, and has led to a 5% increase in individual income tax collection efficiency and a 12% rise in corporate income tax filing rates [2][3] Group 3 - The implementation of measures to address employment challenges for relocated women includes attracting labor-intensive enterprises and providing skills training, resulting in 4,265 relocated individuals achieving stable income in urban areas [2][3] - The development of an industrial policy framework includes initiatives for intellectual property, training for specialized enterprises, and the promotion of deep processing products, with the "Zhashui Mushroom" brand valued at 5.323 billion yuan [3]

Core Viewpoint - The National Market Supervision Administration emphasizes the need to strengthen the governance of live e-commerce chaos and increase monitoring and handling of violations during the "14th Five-Year Plan" period [2][5]. Group 1: Business Growth and Consumer Protection - A total of 19.99 million new enterprises and 33.94 million new individual businesses were established during the "14th Five-Year Plan" period [4][5]. - The consumer complaint handling resulted in recovering economic losses of 21.71 billion yuan for consumers, with 89.03 million complaints processed [6][10]. Group 2: Efficiency Improvements - The time required to open a restaurant has been reduced from 37 days to 15 days, and the number of required documents for business registration has been streamlined from 23 to 6 [7][10]. - The electronic business license has been downloaded 370 million times, significantly facilitating business operations [7]. Group 3: Regulation of E-commerce - Major cases in the live e-commerce sector, such as "Three Sheep" and "Northeast Rain Sister," have been investigated, with over 4.54 million illegal product listings removed from platforms [8][9]. - The administration has urged online trading platforms to eliminate unreasonable restrictions like "refund only" and "mandatory shipping insurance" [9]. Group 4: Food Safety and Product Quality - The administration has intensified efforts to address food safety issues, handling 2.26 million food safety cases and implementing strict regulations on online sales and delivery services [10][12]. - A total of 50 innovative drugs and 49 innovative medical devices were approved from January to July this year, with a total of 204 innovative drugs approved since the beginning of the "14th Five-Year Plan" [11]. Group 5: Product Certification and Recall - 15 product categories, including lithium batteries for electric bicycles, have been included in the CCC certification management, with a total of 36.47 million vehicles and 34.67 million consumer products recalled [12].

Core Viewpoint - The U.S. has unexpectedly canceled its planned visit to India, leading to the collapse of the sixth round of trade negotiations and the imminent implementation of a 50% tariff on Indian goods, which is unprecedented in U.S. trade history [2][3]. Group 1: U.S.-India Trade Relations - The U.S. Trade Representative's Office has not provided a clear explanation for the cancellation, but it signifies the end of hopes for tariff reductions [2]. - President Trump signed an executive order on August 6, imposing a 25% tariff on Indian imports, which, combined with a previously announced 25% tariff, totals a 50% tariff set to take effect on August 27 [2]. - The U.S. has been pressuring India to open its agricultural and dairy markets while India refuses to stop importing Russian oil, leading to a stalemate in negotiations [3]. Group 2: India's Response - India's Ministry of External Affairs criticized the U.S. actions as "unfair, unjust, and unreasonable," emphasizing that oil imports from Russia are driven by market demand and energy security [3]. - Prime Minister Modi has adopted a firm stance against U.S. pressure, advocating for self-reliance and the protection of domestic interests, including the announcement of a domestic chip production initiative [4]. - India has implemented countermeasures, including freezing military purchases from the U.S. and imposing a 150% tariff on American whiskey [4]. Group 3: Strategic Shifts - India is adjusting its foreign policy by engaging with Russia and China, aiming to reduce reliance on the U.S. dollar and establish a trade mechanism using the rupee [6][9]. - The visit of Chinese Foreign Minister Wang Yi to India coincides with these developments, highlighting a potential shift towards deeper cooperation between India and China [7]. - India's Finance Minister has proposed a "BRICS payment system," indicating a strategic pivot away from blind adherence to U.S. policies [9]. Group 4: Economic Implications - The 50% tariff could severely impact key Indian industries such as steel and pharmaceuticals, leading to significant economic losses and a breakdown in trust between the two nations [9]. - Modi's upcoming visit to the UN General Assembly is seen as a crisis management effort rather than a genuine attempt to repair relations with the U.S. [9]. - The situation reflects India's growing awareness that following U.S. policies may not yield the technological and financial support needed for its industrialization [9]. Group 5: Future Outlook - The upcoming Shanghai Cooperation Organization summit may serve as a pivotal moment for India to reshape its relationships and foster cooperation among developing countries against unilateral actions [11]. - The evolving dynamics between India and the U.S. suggest a move towards greater strategic autonomy for India, with global implications for trade and diplomacy [11].