9月24日，佐力药业涨3.02%，成交额3.17亿元。两融数据显示，当日佐力药业获融资买入额3806.29万 元，融资偿还4953.67万元，融资净买入-1147.37万元。截至9月24日，佐力药业融资融券余额合计5.67 亿元。 融资方面，佐力药业当日融资买入3806.29万元。当前融资余额5.66亿元，占流通市值的4.46%，融资余 额超过近一年70%分位水平，处于较高位。 融券方面，佐力药业9月24日融券偿还2400.00股，融券卖出7900.00股，按当日收盘价计算，卖出金额 14.29万元；融券余量6.73万股，融券余额121.75万元，超过近一年90%分位水平，处于高位。 资料显示，浙江佐力药业股份有限公司位于浙江省德清县阜溪街道志远北路388号，成立日期2000年1月 28日，上市日期2011年2月22日，公司主营业务涉及药用真菌乌灵系列和百令片产品、中药饮片及中药 配方颗粒的研发、生产与销售。主营业务收入构成为：乌灵系列56.07%，中药饮片系列21.85%，其他 产品10.11%，百令系列7.08%，中药配方颗粒4.62%，其他(补充)0.26%。 截至6月30日，佐力药业股东户数3.86万 ...

佐力药业所属申万行业为：医药生物-中药Ⅱ-中药Ⅲ。所属概念板块包括：基因测序、医药电商、中 药、生物医药、创新药等。 9月24日，佐力药业盘中上涨2.05%，截至10:16，报17.92元/股，成交8322.21万元，换手率0.78%，总市 值125.69亿元。 资金流向方面，主力资金净流入1198.85万元，特大单买入0.00元，占比0.00%，卖出106.94万元，占比 1.28%；大单买入2414.17万元，占比29.01%，卖出1108.38万元，占比13.32%。 佐力药业今年以来股价涨21.34%，近5个交易日跌0.78%，近20日跌6.42%，近60日涨2.40%。 资料显示，浙江佐力药业股份有限公司位于浙江省德清县阜溪街道志远北路388号，成立日期2000年1月 28日，上市日期2011年2月22日，公司主营业务涉及药用真菌乌灵系列和百令片产品、中药饮片及中药 配方颗粒的研发、生产与销售。主营业务收入构成为：乌灵系列56.07%，中药饮片系列21.85%，其他 产品10.11%，百令系列7.08%，中药配方颗粒4.62%，其他(补充)0.26%。 责任编辑：小浪快报 截至6月30日，佐力药业股 ...

Group 1 - The core business of the company includes various products such as the Wuling series (Wuling capsules, Lingze tablets, Linglianhua granules), the Bailing series (Bailing tablets, Bailing capsules), traditional Chinese medicine pieces, and traditional Chinese medicine formula granules, as well as Pugakabofe calcium tablets [2] - The Wuling series is a unique product line, and the company aims to develop new products based on Wuling mushroom powder according to famous doctors' prescriptions, with a goal of expanding the Wuling series into a family of 10 products to create a stronger product moat [2]

Core Viewpoint - The company is experiencing significant growth in revenue and net profit for the first half of 2025, with a strong performance in its core products and successful expansion into the OTC market [1][2]. Financial Performance - In H1 2025, the company expects revenue to grow approximately 12% year-on-year, with net profit projected between 368 to 388 million yuan, reflecting a growth of 24.3% to 31.06% [1]. - For Q2 2025, the company achieved revenue of 780 million yuan, a 2.7% increase, with net profit expected to be between 187 to 207 million yuan, representing a growth of 21% to 34% [1]. - The net profit margin for Q2 is projected at 25%, indicating a significant improvement in profitability [2]. Product and Market Development - The core product lines, particularly the Wuling series, are showing steady growth, while the Bailing series has seen an increase in growth rate [2]. - The company is actively expanding its OTC channels, focusing on partnerships with leading national chains and enhancing online presence to cater to younger consumers [2]. - The company has signed a joint research agreement with Zhejiang University to develop unique products related to the Wuling series and health products, with an investment of 20 million yuan [2]. Profit Forecast and Investment Rating - The company maintains profit forecasts for 2025-2027, estimating net profits of 655 million, 841 million, and 1.041 billion yuan, corresponding to PE ratios of 20, 16, and 13 times [3]. - The company retains a "buy" rating, anticipating accelerated growth in its product lines due to expanded partnerships and ongoing procurement initiatives [3].

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]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's profitability is steadily improving, with revenue and profit reaching a new quarterly high [1] - The core products are showing robust growth, and the company's profit margins are being maintained despite price pressures from collective procurement [8] - The company is expected to continue its growth trajectory, particularly in the OTC market, while maintaining a high dividend payout ratio [8] Financial Performance Summary - Total revenue for 2024 is projected at 25.78 billion yuan, a year-on-year increase of 32.71% [8] - Net profit attributable to shareholders for 2024 is expected to be 5.08 billion yuan, also reflecting a 32.60% increase [8] - The earnings per share (EPS) for 2024 is forecasted to be 0.72 yuan, with a price-to-earnings (P/E) ratio of 21.99 [1][9] Product Performance Summary - The revenue from the Wuling series is expected to reach 14.38 billion yuan in 2024, with a year-on-year growth of 17.14% [8] - The Chinese herbal medicine series is projected to generate 6.73 billion yuan in revenue, marking a significant increase of 46.02% [8] - The revenue from Chinese herbal formula granules is anticipated to grow by 143.19%, reaching 1.02 billion yuan [8] Future Projections - The company’s net profit is projected to reach 6.55 billion yuan in 2025 and 8.41 billion yuan in 2026, with corresponding P/E ratios of 17 and 13 [8] - By 2027, the net profit is expected to reach 10.41 billion yuan, with a P/E ratio of 11 [1][9]