近期，知名化药公司 力生制药 股价涨势凶猛，从4月初到6月初，短短两个月，市值一度增长超20%。 3月31日晚间，力生制药发布公告称，公司收到 天士力 生物医药 产业集团有限公司（简称"天士力集 团"）通知，天士力集团及其一致行动人向 华润三九 医药股份有限公司（简称"华润三九"）、国新投资 有限公司转让天士力医药集团股份有限公司（简称"天士力股份"）的过户登记手续已经办理完毕。 天士力集团转让天士力股份事项交割完成后，马上筹备进行一轮现金分红。根据力生制药5月22日发布 的公告，天士力集团近期召开临时股东会，计划以现金方式向全体股东进行权益分派，中央药业可获得 现金分红款3.04亿元。 去年8月，天士力集团及其一致行动人与华润三九签署协议，将其持有的28%天士力股份转让给后者。 今年一季度，上述交易完成交割。 天士力股份是天士力集团的重要资产，力生制药全资子公司天津中央药业有限公司（简称"中央药业"） 则是天士力集团的主要股东之一，持股比例为12.15%，交易盘活了天士力集团的存量资产，也有利于 力生制药资产价值的提升。 2022年新管理层上台后，力生制药启动了一系列内部改革措施，经营活力大幅提升。在药品集 ...

证券代码：600488 证券简称：津药药业 编号：2025-033 津药药业股份有限公司 公司于2025年3月27日在《上海证券报》《中国证券报》和上海 证券交易所网站披露了《津药药业股份有限公司2024年年度报告》， 并于2025年5月9日披露了《津药药业股份有限公司关于召开2024年度 业绩说明会的公告》（2025-031#）。 箱先生、独立董事边泓先生、独立董事陈喆女士、首席财务官朱立延 先生、董事会秘书刘博先生共同出席了2024年度业绩说明会，针对公 司财务状况、市场开拓、发展战略、公司治理等方面与投资者互动交 流和沟通，在信息披露允许的范围内就投资者关注的问题进行了回答。 二、投资者提出的问题及公司回复情况 公司对投资者在本次说明会上主要关注的问题进行了回复，具体 情况如下： 答:投资者您好！面对集采常态化背景，公司将继续坚持原料药 制剂一体化发展战略，围绕高质量发展主线，坚持稳中求进、以进促 稳，以稳健经营和效益导向为根本，以营销拓展、科研创新、提质降 本、国际化布局、管理升级为抓手，精准布局，挖存拓新，保销量、 稳利润、提质量，推进公司各项业务持续稳健运行。强化精益生产和 工艺改进，持续推进全领 ...

Investment Rating - The report maintains a "Positive" investment rating for the pharmaceutical industry [1] Core Insights - The pharmaceutical industry is experiencing continuous differentiation, with innovative drugs, raw materials, and CXO services performing well [3][4] - In 2024, 453 pharmaceutical companies achieved revenue of 2.46 trillion yuan, a year-on-year decline of 0.55%, and a net profit of 148.65 billion yuan, down 8.8% [3][71] - The first quarter of 2025 saw revenues of 601.7 billion yuan, a year-on-year decrease of 5.3%, and a net profit of 50.5 billion yuan, down 6.4% [3][71] Summary by Sections Innovative Drugs - In 2024, innovative drug companies generated revenue of 47.53 billion yuan, a year-on-year increase of 68.4, indicating strong momentum [3] - Domestic biotech companies are transitioning from R&D to commercialization, leading to significant revenue growth [3] Chemical Drugs - Chemical drug companies achieved revenue of 399.64 billion yuan in 2024, a year-on-year increase of 0.73%, with net profit rising by 13.25% [3] - The first quarter of 2025 saw revenues of 98.12 billion yuan, a year-on-year decline of 4.47% [3] Medical Devices - In 2024, the medical device sector generated revenue of 221.51 billion yuan, a year-on-year increase of 1.32%, but net profit fell by 13.22% [3] - The first quarter of 2025 reported revenues of 51.7 billion yuan, down 4.89% year-on-year [3] Biological Products - Blood products in 2024 generated revenue of 24.18 billion yuan, down 1.4%, while net profit increased by 14.47% [3] - Vaccine companies faced significant declines, with revenues dropping 45.3% in 2024 [3] Traditional Chinese Medicine - Traditional Chinese medicine saw revenues of 343.75 billion yuan in 2024, a decline of 4.1%, with net profit down 18.8% [3] Raw Materials - The raw materials sector achieved revenue of 122.58 billion yuan in 2024, a year-on-year increase of 7.9%, with net profit rising by 38.33% [3] Pharmaceutical Commerce - In 2024, pharmaceutical commerce companies generated revenue of 1.02531 trillion yuan, a year-on-year increase of 0.8%, but net profit fell by 13% [6] Medical Services - Medical service companies reported revenue of 77.66 billion yuan in 2024, down 2.0%, with net profit declining by 39.5% [6] CXO & Research Services - The CXO and research services sector generated revenue of 96.62 billion yuan in 2024, a year-on-year decrease of 3.92%, with net profit down 25.6% [6]

Core Viewpoint - The company reported a net profit loss of approximately 724.52 million yuan for the year 2024, with no cash dividends or stock bonuses proposed for shareholders [33][87]. Company Overview - The company specializes in the research, production, and sales of patented innovative traditional Chinese medicine, while also expanding into biopharmaceuticals and the health industry [4][5]. - The company has developed a unique research model for innovative traditional Chinese medicine, focusing on major diseases and leveraging its strong scientific research capabilities [5][6]. Business Segments Traditional Chinese Medicine - The company holds 17 patented traditional Chinese medicines, covering eight major clinical disease systems, with leading positions in cardiovascular and respiratory disease treatments [5][19]. - Key products include Tongxinluo capsules, which treat coronary heart disease and cerebral infarction, and have received multiple national science and technology awards [8]. Biopharmaceuticals - The company has established a comprehensive development strategy for biopharmaceuticals, including international registration and global sales [6]. - It has received approvals for 13 ANDA products in the U.S. market and has submitted registration applications in 53 countries [6][20]. Health Industry - The company is actively developing health products based on traditional Chinese health theories, integrating modern technology [7]. - It has launched a series of health products aimed at various health needs, including heart health and anti-aging [7]. Financial Performance - The company achieved a total revenue of approximately 6.51 billion yuan in 2024, with a significant net loss [33]. - The proposed profit distribution plan for 2024 includes no cash dividends or stock bonuses, reflecting the company's current financial situation [87]. Market Position - The company ranks 7th among traditional Chinese medicine companies in China and 30th in the broader pharmaceutical industry [17]. - Despite a declining trend in the market for traditional Chinese medicine for cardiovascular diseases, the company has maintained a growing market share in oral formulations [19]. Product Performance - The market share of key products such as Tongxinluo capsules has increased from 13.64% in 2015 to 17.69% in the first half of 2024 [19]. - The company’s diabetes medication, Jinlida granules, saw its market share rise from 4.42% in 2015 to 16.20% in the first half of 2024 [20].

证券代码： 002437 证券简称：誉衡药业 哈尔滨誉衡药业股份有限公司投资者关系活动记录表 2025-001 | | 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 （请文字说明其他活动内容） | | | | | 天风证券、国盛证券、中信建投证券、太平洋证券、招商证券 、兴业证券、中信证券、东吴证券、首创证券、平安证券、华福 | | | | 参与单位名称及 | 证券、长江证券、永赢基金管理有限公司、深圳前海云溪基金管 | | | | 人员姓名 | 理有限公司、景顺长城基金管理有限公司、上海复胜资产管理合 | | | | | 伙企业（有限合伙）、工银瑞信基金管理有限公司、东源（天津） | | | | | 股权投资基金管理股份有限公司 | | | | 时间 | 2025 年 4 月 28 日 10:00~11:00 | | | | 形式 | 口现场 口网上 √电话会议 | | | | 上市公 ...