Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company is expected to achieve a revenue growth of approximately 12% year-on-year in the first half of 2025, with a projected net profit attributable to shareholders ranging from 368 to 388 million yuan, reflecting a year-on-year increase of 24.3% to 31.06% [7] - The core products are showing steady growth, with significant results from the expansion of the OTC (over-the-counter) channels, which is expected to enhance the company's profitability [7] - The strategic layout of "Wuling Fungus+" is anticipated to open a second growth curve in the medium term, with plans to invest 20 million yuan in developing unique products related to Wuling Fungus [7] Financial Forecasts - The company’s total revenue is projected to reach 3,178 million yuan in 2025, with a year-on-year growth of 23.29% [1] - The net profit attributable to shareholders is forecasted to be 655.34 million yuan in 2025, representing a year-on-year increase of 29.06% [1] - The earnings per share (EPS) is expected to be 0.93 yuan in 2025, with a price-to-earnings (P/E) ratio of 20.26 based on the current price [1]

检查发现，经营使用单位基本能够严格落实主体责任，中药饮片质量管理较为规范。但仍有个别单位存 在购进验收记录不全、装斗清斗记录不完整、部分中药饮片未明码标价等问题。针对发现的问题，执法 人员当场下达责令改正通知书3份。 为进一步规范中药饮片经营使用秩序，保障群众用药安全，近日，新疆维吾尔自治区乌苏市市市场监 管局强化党建引领，积极践行"实干争先"理念，扎实开展中药饮片质量安全检查工作，全力筑牢中药饮 片质量安全防线。 下一步，乌苏市市场监管局将持续加大中药饮片监管力度，建立健全长效监管机制，定期开展"回头 看"检查，巩固专项检查成果，严厉打击中药饮片违法违规行为，切实保障辖区群众用药安全、有效。 （杜志锋，江恩里、孙紫玮） 检查过程中，该局执法人员主要聚焦中药饮片经营企业、医疗机构等重点场所。一是重点围绕企业是否 从合法渠道购进中药饮片，是否严格执行进货查验和索证索票制度进行检查，确保中药饮片来源可追 溯；二是查看中药饮片的储存环境是否符合要求，温湿度调控设备是否正常运行，防止出现霉变、虫蛀 等问题；三是检查中药饮片标签标识是否清晰规范，是否标明品名、规格、产地、生产企业、生产日期 等信息；四是检查中药饮片是否 ...

Group 1 - China Resources Sanjiu (华润三九) acquired 28% stake in Tianshili (天士力) to strengthen its full industry chain layout in traditional Chinese medicine [1] - Luxshare Precision (立讯精密) acquired part of the subsidiary equity of Wentai Technology (闻泰科技) to enhance its ODM resources in the Android ecosystem [1] - Zhizheng Co., Ltd. (至正股份) plans to acquire 99.97% of Advanced Packaging Materials International Ltd. to transition from rubber and plastic manufacturing to semiconductor packaging materials and specialized equipment [1] Group 2 - Since the release of the "Six Merger Rules" by the China Securities Regulatory Commission (证监会), Shenzhen's merger and acquisition market has seen a surge, with 263 new disclosed M&A transactions and a total transaction amount exceeding 57 billion yuan [1][4] - The "Six Merger Rules" aim to enhance the role of the capital market in M&A, support the injection of quality assets into listed companies, and improve investment value [2][3] - The Shenzhen Municipal Financial Office has proposed an action plan to promote high-quality development of M&A, introducing 14 innovative measures [2] Group 3 - The M&A market in Shenzhen is characterized by strong chain reinforcement, accelerated business integration among state-owned enterprises, and cross-industry mergers aiding transformation and upgrading [4] - Notable cases include China General Nuclear Power (中国广核) acquiring 100% of the subsidiary Taishan Nuclear Power, enhancing its nuclear energy project reserves and market share [4] Group 4 - Shenzhen is recognized for its unique ecological conditions supporting M&A, with over 20,000 national high-tech enterprises and more than 1,020 national specialized and innovative "little giant" companies [6] - The city has a robust private equity and venture capital fund management scale exceeding 1.5 trillion yuan, fostering a fertile environment for M&A activities [6] Group 5 - The Shenzhen Securities Regulatory Bureau has established a merger and acquisition project resource library, collecting over 500 potential M&A targets, including more than 460 specialized and innovative enterprises [7] - Future plans include enhancing the resource library and facilitating project matching and roadshows to better serve various M&A needs [7]

华润三九收购天士力28%的股权，巩固在中药领域的全产业链布局；立讯精密收购闻泰科技部分子公司 股权，补足安卓生态ODM资源；至正股份拟收购先进封装材料国际有限公司99.97%的股权，由橡胶及 塑料制造商向半导体封装材料和专用设备行业转型…… 政策"阳光"普照 并购重组是企业实现基业长青的"关键棋"、突破增长瓶颈的"高速路"，也是经济高质量发展的"助推 器"。新"国九条"发布以来，并购重组政策红利持续释放。 2024年9月，证监会发布"并购六条"，以发挥资本市场在企业并购重组中的主渠道作用，适应新质生产 力的需要和特点，支持上市公司注入优质资产、提升投资价值。 招商证券党委书记、董事长霍达表示，"并购六条"通过允许收购未盈利资产、放宽跨界并购限制、完善 吸并锁定期等规定，向市场传递了积极发展新质生产力、鼓励产业整合的明确信号，拓宽"链主"企业遴 选优质标的的范围，释放了积极有力的政策红利，有利于激发并购重组市场活力，促进并购交易的市场 化发展。 "并购六条"发布后，深圳证监局等有关部门陆续出台并购重组支持政策，健全制度保障。2024年11月， 深圳市委金融办就《深圳市推动并购重组高质量发展的行动方案》公开征求意 ...

Core Points - The company is holding a shareholders' meeting to ensure the protection of investors' rights and the orderly conduct of the meeting [1][2] - The meeting will take place on July 17, 2025, at 14:30 in Zhengzhou, with both on-site and online voting options [2][3] - The agenda includes the election of vote counters, discussion of proposals, and a vote on the issuance of short-term financing bonds [2][4] Group 1: Meeting Organization - A secretariat will be established to manage the meeting and related matters [1] - Only authorized attendees, including shareholders, directors, and legal representatives, will be allowed entry [1][2] - Attendees must register at least ten minutes before the meeting starts [1] Group 2: Meeting Procedures - The meeting will begin with an introduction of participants and the election of vote counters [2] - Shareholders will have the opportunity to ask questions and express their opinions, with a time limit of five minutes per speaker [1][2] - Voting will be conducted through a registered name system and online voting, with results announced afterward [2] Group 3: Proposal for Short-term Financing Bonds - The company plans to apply for the registration and issuance of short-term financing bonds totaling up to 800 million RMB [4] - The bonds will have a maximum term of 270 days and can be issued in one or multiple tranches [3][4] - Proceeds will be used for refinancing bank loans, supplementing working capital, and other approved purposes [4][5] Group 4: Authorization for Issuance - The management is proposed to be authorized to determine the specifics of the bond issuance, including amount, term, and interest rate [5] - The authorization will remain effective until all related matters are completed [5] - The proposal has already been approved by the company's board of directors [5]

分析师：张刚 登记编码：S0730511010001 zhanggang@ccnew.com 021-50586990 金融传媒行业领涨 A 股小幅震荡 ——市场分析 相关报告 《市场分析：成长行业领涨 A 股震荡上行》 2025-07-08 《市场分析：金融电力行业领涨 A 股小幅震 荡》 2025-07-07 投资要点： ◼ A 股市场综述 周三（07 月 09 日）A 股市场冲高遇阻、小幅震荡整理，早盘股指高 开后震荡上行，盘中沪指在 3512 点附近遭遇阻力，午后股指震荡回 落，盘中文化传媒、中药、酿酒以及银行等行业表现较好；保险、 有色金属、船舶制造以及风电设备等行业表现较弱，沪指全天基本 呈现小幅震荡整理的运行特征。创业板市场周二震荡上扬，创业板 成分指数全天表现强于主板市场。 ◼ 后市研判及投资建议 《市场分析：金融游戏行业领涨 A 股震荡上 扬》 2025-07-04 联系人： 李智 电话： 0371-65585629 地址： 郑州郑东新区商务外环路10号18楼 地址： 上海浦东新区世纪大道 1788 号 T1 座 22 楼 证券研究报告-市场分析 发布日期：2025 年 07 月 09 日 ...

佐力药业（300181）公告，预计2025年上半年净利润为3.68亿元-3.88亿元，比上年同期的2.96亿元增长 24.30%-31.06%。 ...

沪深两市全天成交额1.51万亿，较上个交易日放量512亿。全市场超3300只个股下跌。 盘面上，大金融股领涨，多只银行股再创新高；托育服务、短剧游戏、互联网电商板块涨幅居前，新型城 镇化概念、地产股午后活跃。保险、有色金属、有机硅、半导体芯片板块跌幅居前。 具体来看，机器人概念股盘中活跃，上纬新材、日发精机、大丰实业等涨停。 2025.07. 09 本文字数：598，阅读时长大约2分钟 作者 | 一财资讯 7月9日，A股三大指数早盘集体上涨，午后回落。截至收盘，上证指数跌0.13%，深证成指跌0.06%，创 业板指涨0.16%。 | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | 000001 | 上证指数 | with the | 3493.05 c | -4.43 | -0.13% | | 399001 | 深证成指 | s | 10581.80 c | -6.60 | -0.06% | | 399006 | 创业板指 | 1 | 2184.67 c | 3.60 | 0.16% | | | | | 11 | ...

Core Viewpoint - Panlong Pharmaceutical is actively engaging with institutional investors to showcase its strategic layout, core product competitiveness, and future development plans, focusing on a "one body, two wings, three depths" strategy to strengthen its main business while expanding into new areas like traditional Chinese medicine formula granules and health products [1] Group 1: Growth Drivers - The main product, Panlong Seven Tablets, is a key driver of revenue growth, holding an 8.05% market share in the traditional Chinese medicine market for musculoskeletal and rheumatic diseases in public hospitals as of the first half of 2024, ranking first [2] - The company has developed a diverse product cluster around rheumatology and bone injuries, including Panlong Seven Medicinal Wine and Bone Health Tablets, creating a differentiated competitive advantage [2] - In 2024, the traditional Chinese medicine decoction pieces business achieved a historical breakthrough with a revenue increase of 292.84%, while the formula granules business made significant progress with 211 varieties registered for market entry [2] Group 2: Health Sector Expansion - In the health sector, the company leverages its traditional Chinese medicine advantages to develop "food and medicine homology" products, establishing a comprehensive product system covering treatment, conditioning, and prevention [5] - The company plans to enhance brand influence through online and offline collaboration, scenario-based marketing, and e-commerce partnerships to explore new growth opportunities [5] Group 3: R&D and M&A Strategy - Despite a slight revenue decline of 0.71% in 2024 due to the divestment of low-margin pharmaceutical distribution, the self-produced traditional Chinese medicine revenue grew by 10.2%, highlighting the profitability of the main business [6] - R&D investment increased by 85.31% in 2024, reaching 0.38 billion, with 65 valid patents held, including 31 invention patents [6] - The company is focusing on M&A within the traditional Chinese medicine industry chain, seeking synergistic targets to enhance core competitiveness through a "first participate, then control" model [9] Group 4: Market Recognition and Shareholder Returns - To address investor concerns regarding market capitalization management, the company aims to enhance market recognition through three measures: strengthening main business profitability, maintaining steady growth, and implementing a cash dividend policy with a 2024 payout ratio of 26.42% [9] - The company has established a three-year dividend plan to balance short-term returns with long-term development needs [9]

重庆太极实业（集团）股份有限公司 独立董事工作制度 （2025 年 7 月修订） （以 下简称"《公司章程》"）的有关规定，结合公司实际情况， 制订本制度。 第二条 独立董事是指不在公司担任除董事外的其他职 务，并与公司及其主要股东、实际控制人不存在直接或者间 接利害关系，或者其他可能影响其进行独立客观判断关系的 董事。 第一章 总 则 第一条 为促进重庆太极实业（集团）股份有限公司（以 下简称"公司"）规范运作，充分发挥独立董事在公司治理 中的作用，完善公司治理结构，促进公司高质量发展。根据 中国证券监督管理委员会（以下简称"中国证监会"）颁布 的《上市公司独立董事管理办法(2025 修正)》《上市公司治 理准则（2025 修正）》及《上海证券交易所上市公司自律监 管指引第 1 号—规范运作(2025 年 5 月修订)》等国家有关法 律、法规和《重庆太极实业（集团）股份有限公司章程》 独立董事应当独立履行职责，不受公司及其主要股东、 实际控制人等单位或者个人的影响。 第三条 独立董事对公司及全体股东负有忠实与勤勉义 务，应当按照法律、行政法规、中国证监会规定、上海证券 交易所业务规则和《公司章程》的规定，认 ...