11月22日，从在越南举行的第二十一届国际络病学大会海外论坛获悉，中国创新 中药 领军企业 以岭药业 生产的17个 创新药 已在全球50多个国家和地区成 功注册并上市。不仅让中医药"漂洋过海"，更在全球健康体系中"落地生根"，实现了从传统智慧到现代价值的跨越。 以岭药业 探索出一条从"走出去"的物 理跨越，到"走进去"的文化融合，再到"走上去"的价值引领的清晰路径。 以岭药业 专利中药全球注册情况 "走出去"：理论先行，科技破局，让中医药惠及世界 11月22日，来自越南、泰国、中国、加拿大等国家和地区的专家学者齐聚一堂，围绕络病理论的最新科研进展展开深入交流，共商中医药现代化与国际化发 展路径。 第二十一届国际络病学大会海外论坛在越南举行 "走出去"是中医药国际化的关键起点。 以岭药业 深知，中医药要走向世界，理论必须先行。33年来，企业以"科技创新，成果转化，产业发展"为核心发展 战略，系统构建了络病理论体系。该体系被国医大师路志正评价为"中医络病学发展史上的第四个里程碑"。 以岭医药 研究院中医药分院副院长、络病研究部主任李红蓉博士在采访时介绍称， 以岭药业 从"络病证治"到"脉络学说"再到"气络学说"， ...

围绕络病理论研究的三大理论框架"络病证治""脉络学说""气络学说"，出版发行了《络病学》《脉络论》《气络论》三本 专著，《络病学》英文版教材在弗吉尼亚整合医学大学、加拿大安大略中医学院、新加坡中医学院等40余所海外教育机构开 课。这些研究平台的搭建和理论成果的传播，不仅使络病理论走向国际，也更助力了国际中医药人才的培养。 11月22日，第二十一届国际络病学大会海外论坛在越南河内举行，此次论坛由世界中医药学会联合会络病专业委员会、越 南南医协会共同主办，来自越南、中国、泰国、罗马尼亚等国家和地区的专家学者，围绕络病理论的临床应用以及科研进展进 行交流分享，展示络病学研究和学科建设取得的优秀成果，以进一步推动中医药高质量发展和走向世界。 从会上获悉，在络病理论指导下，研制出的17个通络药物已在50多个国家和地区注册上市。络病理论何以拥有如此强大的 生命力？能在全球掀起医学界的浪潮？ 中国驻越南大使馆邬国权公参在致辞中表示："今年是中越建交75周年暨人文交流年，传统医药交流作为两国重要的载 体，以本次络病大会海外论坛为纽带深化合作，可谓恰逢其时，意义非凡。越南传统医药与中医药源相近，中国在该领域处于 世界领先地位， ...

以岭药业专利中药全球注册情况 "走出去"：理论先行，科技破局，让中医药惠及世界 11月22日，来自越南、泰国、中国、加拿大等国家和地区的专家学者齐聚一堂，围绕络病理论的最新科 研进展展开深入交流，共商中医药现代化与国际化发展路径。 第二十一届国际络病学大会海外论坛在越南举行 "走出去"是中医药国际化的关键起点。以岭药业深知，中医药要走向世界，理论必须先行。33年来，企 业以"科技创新，成果转化，产业发展"为核心发展战略，系统构建了络病理论体系。该体系被国医大师 路志正评价为"中医络病学发展史上的第四个里程碑"。 以岭医药研究院中医药分院副院长、络病研究部主任李红蓉博士在采访时介绍称，以岭药业从"络病证 治"到"脉络学说"再到"气络学说"，搭建完成了络病研究三大理论框架，相关专著如《络病学》《脉络 论》《气络论》已出版发行，为中医络病学学科发展奠定了坚实的理论基础，《络病学》英文版教材在 弗吉尼亚整合医学大学、加拿大安大略中医学院、新加坡中医学院等海外教育机构开课，助力国际中医 药人才培养。以岭药业在该理论指导下继承创新，创立了"理论+临床+新药+实验+循证"一体化的中医 学术创新与转化新模式。 基于坚实的络病 ...

以岭药业总部 "络病理论是中医药学独特的组成部分，也是以岭药业研发体系的核心灵魂。"吴瑞告诉记者，在络病理论指导下，以岭药 业建立起"理论—临床—科研—产业—教学"五位一体运营模式，形成了"理论+临床+新药+实验+循证"一体化的中医药创新 转化路径。 截至目前，以岭药业成功研发17个专利中药，覆盖心脑血管、呼吸、糖尿病、肿瘤、神经、泌尿、妇科、抗衰老等八大疾 病领域，其中11个品种进入国家医保目录、5个进入国家基药目录，成为中医药创新转化的典范。 "研发不是成本，而是我们最核心的增长动力。"吴瑞告诉记者，以岭的每一根增长曲线，都源自研发的持续投入与突破。 今年前三季度，公司实现归母净利润10亿元，同比增长80.33%。其中，第三季度，公司实现归母净利润3.32亿元，单季盈 利创历史新高。公司前三季度研发费用支出达5.44亿元，占营收比例9.27%，持续位居中药行业前列。 ◎记者 刘立 闫刘梦 从一本《络病学》教材到在海内外建立130余家络病专业委员会，从一味院内制剂到17款专利新药，从一家河北药企到国 际化医药集团……这就是国内中医药产业领军企业以岭药业的成长轨迹。 "以岭将科技创新作为立企之本，以络病理论为 ...

Group 1 - The core viewpoint of the article highlights the strategic developments and growth trajectories of various companies in Hebei, including their market performance and innovative initiatives [11][19][20]. - Hebei's listed companies have implemented market value management plans, with 74 companies executing annual and mid-term dividends totaling over 28 billion yuan [11]. - Yiling Pharmaceutical has increased its market share in the cardiovascular oral traditional Chinese medicine market from 13.64% in 2015 to 18.13% in 2024, serving as a stable growth driver for the company [11][28]. Group 2 - Wireless Media is expanding its business from traditional IPTV services to smart home and enterprise digitalization, aiming to redefine the value of large screens through technology [12][13]. - The company has a user base of nearly 15 million IPTV subscribers, and it is actively developing a smart media cloud platform to create a new ecosystem combining AI and new media [13][15]. - Financial support for local enterprises has been significant, with Financial Securities issuing 8 rounds of science and technology bonds totaling 8.2 billion yuan to support R&D investments [20][23]. Group 3 - Colin Electric aims to become a world-class comprehensive energy service provider by integrating smart grids, renewable energy, and comprehensive energy services [32][34]. - The company has seen significant growth in its renewable energy sector, focusing on photovoltaic and energy storage solutions, and is transitioning from equipment supplier to integrated solution provider [33][36]. - In the third quarter, Colin Electric reported a revenue of 3.216 billion yuan, a year-on-year increase of 23.63%, and a net profit of 217 million yuan, marking a 45.9% increase [36]. Group 4 - Yiling Pharmaceutical has established a comprehensive R&D system guided by the theory of "Luo Disease," leading to the successful development of 17 patented traditional Chinese medicines [26][28]. - The company emphasizes the importance of R&D as a core growth driver, with R&D expenses accounting for 9.27% of revenue, positioning it among the leaders in the traditional Chinese medicine industry [28][29]. - Yiling's products have gained international recognition, with significant studies published in top medical journals demonstrating their efficacy in treating cardiovascular conditions [29][30].

Core Viewpoint - Yiling Pharmaceutical is focusing on internationalization through innovation, brand development, and expanding its influence in traditional Chinese medicine (TCM) globally [2][5]. Group 1: Internationalization Efforts - Yiling Pharmaceutical aims to enhance the international brand influence of TCM by promoting the theory of "Luo Disease" abroad, establishing over 130 professional committees in various countries [2]. - The company has developed a new academic discipline in TCM, creating textbooks and courses in over 40 higher education institutions domestically [2]. - Yiling has received significant recognition for its innovative contributions to TCM, including six national major scientific achievement awards [2]. Group 2: Product Development and Market Expansion - The company is committed to technological innovation, having successfully developed and launched 15 innovative TCM products that address major clinical treatment gaps [2]. - Yiling's products are included in over 200 clinical diagnosis and treatment guidelines, indicating their acceptance in the medical community [2]. - The approval of "Methylphenidate Hydrochloride" for market sale is expected to enrich the company's product line, particularly in treating moderate to severe Alzheimer's disease, aligning with the growing market demand due to aging populations [5]. Group 3: Financial and Trading Information - On November 12, Yiling Pharmaceutical's stock closed at 20.01 yuan, down 2.25%, with a trading volume of 668,600 shares and a turnover of 1.345 billion yuan [1]. - The net inflow of main funds was 23.33 million yuan, indicating increased short-term interest in the stock [3][4].

Group 1 - Yiling Pharmaceutical's Q3 report shows a 17% year-on-year growth in cardiovascular products, with revenue from the respiratory product Lianhua Qingwen expected to reach 2 billion yuan for the year, and Lianhua Qinkang projected to exceed 100 million yuan by 2025. Mental health products saw an 80% year-on-year revenue increase, with a target of over 100 million yuan for Baziren Kidney Capsule by 2025 [1] - Kanghong Pharmaceutical reported a traditional Chinese medicine revenue of 1.138 billion yuan for the first three quarters, a 9% year-on-year increase. The ophthalmology pipeline KH902-210 has completed Phase 2 enrollment for DME, and the oncology pipeline KH617 shows significant efficacy in treating gliomas [1] Group 2 - CITIC Securities notes that the average gross margin for the traditional Chinese medicine industry in the first three quarters of 2025 is 54.8%, a decrease of 0.3 percentage points year-on-year, primarily due to changes in product revenue structure and centralized procurement disruptions. However, the sales expense ratio decreased by 0.7 percentage points to 29.1%, indicating effective cost control, while the R&D expense ratio increased to 4.0%, contributing to a 0.4 percentage point increase in net profit margin to 12.9%, showing a trend of recovery in profitability [2] - Industrial fundamentals in the traditional Chinese medicine sector are expected to marginally recover, with OTC channel inventory clearance nearing completion. The combination of a declining base and alleviated cost pressures may lead to a recovery in gross margins. Potential policy changes in the hospital sector should be monitored, and the sector is characterized by good cash flow and high dividend rates, suggesting opportunities in state-owned enterprise valuation recovery and structural opportunities from essential drug directory adjustments [2]

Core Insights - Yiling Pharmaceutical and Leyao Group have signed a cooperation agreement to establish a long-term, stable, and comprehensive partnership aimed at promoting high-quality development in China's pharmaceutical and health industry [1][6]. Group 1: Company Profiles - Yiling Pharmaceutical is a leading enterprise in the Chinese traditional medicine sector, focusing on technological innovation and has developed over ten patented new drugs targeting major diseases such as cardiovascular diseases, respiratory infections, tumors, and diabetes [3]. - Leyao Group, with a registered capital of $256 million, operates as a new type of "pharmaceutical + internet" enterprise, focusing on pharmaceutical distribution and optimizing supply chain efficiency through e-commerce and logistics technology [3]. Group 2: Digital Transformation - Yiling Pharmaceutical is actively embracing digitalization, having established deep partnerships with several well-known e-commerce platforms to expand its "internet + health" service model [4]. - A significant collaboration with JD Health was initiated to launch a digital marketing project aimed at promoting core products like the Ba Zi Bu Shen capsule, providing comprehensive health management solutions for aging populations [4][5]. Group 3: Strategic Cooperation - The cooperation between Yiling Pharmaceutical and Leyao Group will leverage their respective strengths in branding, research, production, technology, marketing, and distribution to enhance core competitiveness and better serve patients and consumers [6]. - A regular high-level meeting mechanism and joint working groups will be established to ensure efficient progress and execution of strategic cooperation projects, focusing on key issues such as channel management and market coverage [7]. Group 4: Industry Impact - This strategic partnership is seen as a significant step for both companies and is expected to set a new benchmark for industry collaboration, injecting new momentum into the development of China's pharmaceutical and health industry [9].

Core Viewpoint - Yiling Pharmaceutical (002603.SZ) has demonstrated strong performance in Q3 2025, with revenue of 1.827 billion yuan, a year-on-year increase of 3.78%, and a significant growth in net profit, indicating robust business fundamentals and potential for future growth [3][4]. Business Foundation - The company has a solid foundation in traditional Chinese medicine, with 17 patented products, 11 of which are included in the national medical insurance directory, ensuring stable growth [4][5]. - Key products such as Tongxinluo Capsule and Qiyuqiangxin Capsule have maintained top positions in the cardiovascular market, supported by clinical guidelines [5]. Growth Potential - The biopharmaceutical segment is advancing with a strategy that includes both generic and innovative drug development, leading to a second growth phase [6][7]. - The health segment targets specific consumer needs, tapping into a trillion-level health consumption market, which provides new growth opportunities [6][7]. R&D Investment - Yiling Pharmaceutical invested 544 million yuan in R&D in the first three quarters of 2025, leading the domestic traditional Chinese medicine sector, with cumulative R&D investment exceeding 5 billion yuan from 2019 to 2024 [6][7]. - The company has established a robust pipeline with multiple products in various stages of development, ensuring sustainable growth [7][8]. International Expansion - The company has expanded its international presence, with products like Tongxinluo Capsule and Qiyuqiangxin Capsule entering over 50 countries, enhancing its global market reach [10][11]. Shareholder Returns - The company has shown commitment to shareholder returns, with earnings per share reaching 0.5988 yuan, a year-on-year increase of 80.31%, and a dividend payout of 5.01 billion yuan, representing 77% of the profit [11].

Group 1: Company Overview and Market Position - Yiling Pharmaceutical is recognized as the company with the most approved innovative traditional Chinese medicine (TCM) products since 2020 [2] - The company has established a comprehensive management system for intellectual property and trade secrets to protect its innovations [2] Group 2: Product Promotion Strategies - In the hospital market, the company is enhancing specialized promotion efforts based on five national key research projects [3] - In the external market, the company focuses on brand strategy, aiming to strengthen brand building and improve customer compliance with products [3] Group 3: Innovative Drug Development - The company has multiple innovative drugs in clinical stages, including XY0206 for acute myeloid leukemia and XY03-EA for ischemic stroke [6] - Future R&D plans include over ten products in respiratory, endocrine, digestive, gynecological, and pediatric fields [4] Group 4: Sales Expectations and Strategies - The BaZi Kidney Supplement Capsule is expected to enhance immune function and improve aging-related symptoms, with research published in high-impact journals [7][8] - The company is increasing sales efforts through retail and e-commerce channels, focusing on brand building and customer relationship management [8] Group 5: Market Potential and Financial Outlook - The market for diabetic retinopathy treatment is promising, with approximately 116.4 million diabetes patients in China and a DR prevalence rate of about 34.6% [11] - The company anticipates a recovery in gross profit margins due to declining prices of traditional Chinese medicinal materials and internal efficiency improvements [12]