Core Viewpoint - The leading company in anorectal medication, Mayinglong (600993.SH), is embroiled in a controversy regarding the circulation of returned drugs, which poses significant safety risks and highlights issues in the drug procurement and sales practices of some medical institutions [2][3]. Company Summary - Mayinglong has not yet disclosed information regarding the ongoing investigation as of March 31 [3]. - The two involved stores, 彭刘杨路店 and 惠济路店, are subsidiaries of Mayinglong and are cooperating with the investigation [3]. - The Wuhan Medical Insurance Bureau has terminated the medical insurance service agreements for these stores due to violations of the service agreement [3]. - Mayinglong, established in 1582, is a well-known brand in anorectal medication, with its business encompassing pharmaceutical manufacturing, medical services, and pharmaceutical commerce [3]. - The pharmaceutical manufacturing segment includes products like 马应龙麝香痔疮膏 and 马应龙八宝眼膏, while the medical services include a chain of anorectal hospitals and diagnostic centers [3]. Industry Summary - According to the Ministry of Commerce's report, Mayinglong's pharmacy ranked 64th in the national retail pharmacy top 100 with sales of 535 million yuan in 2023, accounting for approximately 17% of the company's total revenue of 3.137 billion yuan [4]. - There is a concerning trend of advertisements for "cash for insurance" and "high-priced drug buybacks" near public hospitals in Wuhan, indicating a broader issue of returned drug circulation [4]. - The return drug industry chain is highlighted by the practice where insured individuals purchase drugs at a subsidized cost and sell them back at a significant discount, leading to a profit for the resellers [5][6].

第 = $( +) 行情回顾 01 02 板块观点和投资组合 03 行业和个股事件 本周行情回顾 本周中信一级行业指数涨跌幅 本周涨幅排名前/后十名的股票 倍益康 廣農制药 -24.51% 8.12% 无锡品海 *ST景ច -24.419 20.70% 1% 荣昌生物 中科学费 16.72% 0% 受用医疗 15.90% 三次降行 -1% 咖降药业 维康药业 15.10% -2% 科兴制药 海月药业 14.21% -3% 恩威医药 13.799 博迅生物 -4% 华森制药 11.55% 鹿得医疗 -5% 普瑞眼科 润都股份 11.26% -6 欧康医药 兴并眼药 10.46% -14.24% 15% 20% 25% 30% 35% -30% -25% -20% -15% -10% -5% 0% રેક્ટ 10% 证监会审核华创证券投资咨询业务资格批文号：证监许可（2009）1210 号 未经许可，禁止转载 资料来源: Wind, 华创证券 1 华创研究 ω · 本周，中信医药指数上涨1.08%，跑输沪深300指数0.03个百分点，在中信30个一级行业中排名第18位。 · 本周涨幅前十名股票为康惠制药、*ST ...