Core Insights - The Chinese medicine industry is undergoing a significant transformation, with the centralized procurement of traditional Chinese medicine (TCM) products acting as a catalyst for change, prompting major companies to integrate their supply chains to adapt to market pressures and regulatory shifts [1][2] Group 1: Industry Trends - The centralized procurement led by Hubei allows for a 60% price component and 40% based on technical factors, emphasizing the importance of quality and innovation in TCM [2] - The State Council's 2025 report highlights the need for high-quality development in the TCM sector, indicating a shift from resource-driven competition to quality-driven value [2][12] - The TCM industry has experienced a volatile price environment, with the index rising from over 2000 points in 2019 to a peak of 3600 points, followed by a decline due to oversupply and market speculation [3] Group 2: Company Performance - Yunnan Baiyao reported a revenue of 21.257 billion yuan in the first half of 2025, a year-on-year increase of 3.92%, with net profit reaching 3.633 billion yuan, up 13.93% [4] - In 2024, Yunnan Baiyao achieved a revenue of 40.033 billion yuan, a 2.36% increase, and a net profit of 4.523 billion yuan, reflecting a 20.18% growth [4] Group 3: Supply Chain Integration - Yunnan Baiyao's strategy involves integrating the entire supply chain, from seed selection to processing, ensuring quality and stability in raw materials [5][6] - The company has developed a model that promotes collaboration with local farmers, allowing them to sell fresh herbs directly to Yunnan Baiyao, thus enhancing quality and income for farmers [10] Group 4: Digital Transformation - Yunnan Baiyao is leveraging digital platforms to enhance supply chain transparency and efficiency, enabling full-process collaboration and traceability in TCM production [8] - The company has introduced a data product for tracing Yunnan's unique TCM materials, promoting industry-wide data sharing and collaboration [8] Group 5: Future Outlook - Yunnan Baiyao aims to expand its market presence internationally, utilizing its geographical advantages and establishing a new international trading center for medicinal materials [11] - The company has initiated a 10 billion yuan industry fund to support the development of the TCM sector, indicating a commitment to long-term growth and innovation [11][12]

证券日报网讯寿仙谷（603896）9月26日在互动平台回答投资者提问时表示，公司始终以"传承精华、守 正创新"为核心，将产品功效提升贯穿于优良品种选育、栽培/加工技术提升、经典名方开发、药理临床 研究等全产业链创新实践中；公司独创的新型去壁技术，通过去除灵芝孢子粉壁壳，使有效成分含量获 得十倍以上提升，不同有效成分的吸收率获得4-50倍的提升。同时，公司正在开展去壁灵芝孢子粉与抗 肿瘤药物联用的研究，部分成果已发表论文。 ...

北京商报讯（记者 王寅浩 实习记者 宋雨盈）9月26日，同仁堂发布公告称，公司控股孙公司北京同仁 堂国药有限公司收到柬埔寨王国（以下简称"柬埔寨"）卫生部药品与食品司颁发的《传统药品注册许可 证》，准许将同仁堂国药的"同仁堂安宫牛黄丸"在柬埔寨出售，许可证有效期限至2028年9月11日止。 ...

Core Viewpoint - Hansen Pharmaceutical (002412) is currently in the process of scaling up the production technology for its new traditional Chinese medicine product, Cangrong Granules, which is in the pilot study phase [1] Group 1 - The company is actively engaged in product research and development [1] - Cangrong Granules is a new drug derived from traditional Chinese medicine [1] - The product is currently undergoing process pilot testing [1]

Core Viewpoint - Tong Ren Tang (600085.SH) has received a Traditional Medicine Registration License from the Ministry of Health of Cambodia, allowing its product "Tong Ren Tang An Gong Niu Huang Wan" to be sold in Cambodia [1] Group 1: Regulatory Approvals - The subsidiary Beijing Tong Ren Tang Guo Yao Co., Ltd. has obtained the Traditional Medicine Registration License, which follows the previously granted import license for the same product [1] - This license enables the distribution of Tong Ren Tang An Gong Niu Huang Wan in Cambodia, enhancing the product's market presence [1] Group 2: Market Expansion - The acquisition of the registration license is expected to enrich the distribution channels for key products of Tong Ren Tang Guo Yao, facilitating market expansion [1] - The impact of this license on the company's production operations and overall performance is not anticipated to be significant at this time [1]

Core Insights - Tong Ren Tang Technology (01666.HK) announced that its subsidiary, Tong Ren Tang Guo Yao, has received a Traditional Medicine Registration License from the Ministry of Health of the Kingdom of Cambodia, allowing the sale of "Tong Ren Tang An Gong Niu Huang Wan" in Cambodia [1][2] Group 1 - The drug "Tong Ren Tang An Gong Niu Huang Wan" is now authorized for sale in Cambodia, which will enhance the distribution channels for the company's key products and support market expansion [1][2] - The registration number for the license is CAM N0004IT-25, and it is valid until September 11, 2028 [2] - The acquisition of this license is not expected to have a significant impact on the company's production operations and performance in the short term [2] Group 2 - The sales of the drug may be influenced by changes in Cambodia's policy environment, exchange rate fluctuations, and market competition [2][3]

Core Viewpoint - Tong Ren Tang (600085.SH) has received a Traditional Medicine Registration License from the Ministry of Health of the Kingdom of Cambodia, allowing its subsidiary Beijing Tong Ren Tang Guo Yao Co., Ltd. to sell "Tong Ren Tang An Gong Niu Huang Wan" in Cambodia [1] Group 1 - The approval from the Cambodian authorities marks a significant step for the company in expanding its international market presence [1] - The product "Tong Ren Tang An Gong Niu Huang Wan" is a traditional Chinese medicine, indicating the company's commitment to promoting traditional medicine abroad [1]

2025 年 9 月 27 日，北京同仁堂股份有限公司公告，其控股孙公司北京同仁堂国药有限公司收到柬埔寨 卫生部药品与食品司颁发的《传统药品注册许可证》，准许"同仁堂安宫牛黄丸"在柬出售。许可证编号 为 CAMN00041T - 25，有效期至 2028 年。此前该药品已获柬进口许可证，此次获注册许可有助于丰富 分销渠道、拓展市场，但暂不会对公司生产经营和业绩产生重大影响。同时，药品销售受政策、汇率、 竞争等因素影响，提醒投资者注意风险。 ...

同仁堂9月26日公告，公司控股孙公司同仁堂国药收到柬埔寨卫生部药品与食品司颁发的《传统药品注 册许可证》，准许将同仁堂国药的"同仁堂安宫牛黄丸"在柬埔寨出售。药品销售受多种因素影响，投资 者需注意投资风险。 ...

同仁堂（600085）(600085.SH)公告，公司控股孙公司北京同仁堂国药有限公司(同仁堂国药)收到柬埔寨 王国(柬埔寨)卫生部药品与食品司颁发的《传统药品注册许可证》，准许将同仁堂国药的"同仁堂安宫 牛黄丸"在柬埔寨出售。 ...