Core Viewpoint - The company held an online earnings briefing on September 15, where it addressed investor inquiries regarding product promotion, sales performance, and future strategies [1]. Group 1: Product Focus - The Ba Zi Bu Shen capsules received attention for their effectiveness, but consumers face challenges in understanding the product's target audience, usage methods, and side effects, prompting a call for increased promotional efforts [2]. - The company stated that Ba Zi Bu Shen capsules are developed based on the theory of Qi and are classified as OTC Class A drugs, with multiple studies confirming their positive effects on age-related diseases [2]. Group 2: Financial Performance - For the first half of 2025, the company reported a revenue of 4.04 billion yuan, a year-on-year decrease of 12.26%, while net profit attributable to shareholders rose by 26.03% to 669 million yuan [3]. - The net profit excluding non-recurring items increased by 27.08% to 641 million yuan, and the net cash flow from operating activities surged by 214.97% to 832 million yuan [3]. - The company emphasized that operational quality is improving and plans to leverage its "Seventh Five-Year" strategy to enhance management, R&D, and marketing for stable growth [3]. Group 3: Future Strategies - The company has established a subsidiary, Shanghai Yiling Pharmaceutical, to advance the development of biopharmaceutical products and enhance its competitive edge in this area [3]. - The company is monitoring policies related to the collection of traditional Chinese medicine in Hubei and plans to increase R&D investment to cultivate new products and expand market share [3]. - The year 2025 is identified as a critical year for the "Seventh Five-Year" plan, focusing on technological innovation, results transformation, and industry development to achieve annual operational and profit targets [3].

Financial Performance - In the first half of 2025, the company achieved a revenue of CNY 4.04 billion, a decrease of 12.26% year-on-year [6] - The net profit attributable to shareholders was CNY 669 million, an increase of 26.03% year-on-year [6] - The net profit excluding non-recurring items was CNY 641 million, up 27.08% year-on-year [6] - The net cash flow from operating activities was CNY 832 million, an increase of 214.97% year-on-year, indicating improved operational quality [4][6] Product Development and Research - The Baizi Bujin Capsule is an OTC Class A drug developed based on the theory of Qi and essence, aimed at anti-aging [5] - Research published in the journal Biomedicine & Pharmacotherapy (impact factor 7.42) confirmed that Baizi Bujin Capsule can improve memory and muscle endurance in aging mice, significantly reducing their DNA methylation age [3][5] - Clinical studies led by the Xiyuan Hospital of the China Academy of Chinese Medical Sciences demonstrated the capsule's effectiveness in improving symptoms of aging across various systems, including neurological and cardiovascular [3][5] Strategic Outlook - The company plans to continue its "Seventh Five-Year" strategic plan, focusing on high-quality industry development and enhancing operational management [5][7] - There is an emphasis on increasing research and development output and optimizing the marketing system to achieve steady growth [5][7] - The establishment of a subsidiary, Shanghai Yiling Pharmaceutical, aims to enhance the company's competitiveness in biopharmaceuticals [7][8] Market and Sales Strategy - The company is committed to increasing the promotion of Baizi Bujin Capsule to convert research advantages into sales advantages [8] - The company is monitoring policies related to centralized procurement and will adapt its strategies accordingly [8] - Future focus includes strengthening budget management and operational efficiency to enhance profitability [8]

Group 1: Company Overview and R&D Focus - Yiling Pharmaceutical is focusing on the development of proprietary traditional Chinese medicine (TCM) and has several products in various stages of clinical trials, including five in clinical II phase [3][4]. - The company plans to submit 1-2 new drug applications annually, with recent approvals for products targeting chronic cholecystitis and rheumatoid arthritis [2][3]. Group 2: Future Strategic Directions - Future product development will focus on multiple therapeutic areas, including respiratory diseases, endocrine disorders, digestive system issues, and pediatric and gynecological diseases, with over 10 products planned in the respiratory field alone [3]. - The company is also enhancing its chemical drug development through its subsidiary, Yiling Wanzhou, aiming to build a competitive advantage in innovative drugs and high-end generics [4]. Group 3: Sales Strategies and Market Performance - The sales strategy for Yazi Kidney Supplement Capsules includes leveraging scientific research to promote anti-aging benefits, with significant growth expected in 2025 [6][8]. - The company is enhancing its retail presence through partnerships with chain pharmacies and e-commerce platforms, focusing on brand building and customer relationship management [9][10]. Group 4: Financial Performance and Profitability - The gross profit margin for cardiovascular products increased by 12.77% in the first half of 2025, indicating a positive trend in cost management and operational efficiency [15]. - The overall cost of traditional Chinese medicinal materials is declining, which is expected to further improve profit margins in the coming periods [15]. Group 5: Market Potential and Product Impact - The newly approved Tongluo Mingmu Capsules target diabetic retinopathy, with a significant market potential given that approximately 34.6% of diabetes patients are affected by this condition in China [14]. - The company anticipates that as screening rates for diabetic retinopathy increase, more patients will seek treatment, enhancing the market size for this product [14].

Core Insights - Yiling Pharmaceutical reported a revenue of 4.04 billion yuan and a net profit of 669 million yuan for the first half of 2025, marking year-on-year growth of 26.03% and 27.08% respectively [1] - The company achieved a significant increase in net cash flow from operating activities, reaching 832 million yuan, a year-on-year increase of 214.97% [1] - R&D expenditure for the company was 399 million yuan, accounting for 9.87% of revenue, positioning it among the leaders in the traditional Chinese medicine sector [4][5] Financial Performance - The company's operating costs decreased by 23.76% to 1.637 billion yuan, with selling expenses dropping over 15% to 913 million yuan [1] - The overall gross profit margin improved to 59.52%, indicating a significant recovery compared to the previous two years [1] - The asset-liability ratio stood at 21.81%, reflecting a notable improvement in financial safety margins [1] Innovation and R&D - Yiling Pharmaceutical maintains a high level of R&D investment, with a focus on innovative traditional Chinese medicine development guided by clinical practice and theoretical hypotheses [3] - The company has successfully launched five innovative traditional Chinese medicines in the past five years, with significant progress in both traditional and chemical drug development in the first half of this year [5] - The approval of the innovative drug Qifang Bitong Pian for the treatment of persistent allergic rhinitis marks a milestone, being the first traditional Chinese medicine OTC approved in Macau [5][6] Product Portfolio and Market Position - Yiling Pharmaceutical has established a product matrix with 17 innovative patented traditional Chinese medicines, particularly excelling in the cardiovascular disease sector [7] - Key products such as Cansong Yangxin Capsule, Tongxinluo Capsule, and Qilichangxin Capsule have received multiple recommendations in treatment guidelines, enhancing their market presence [7][9] - The company is actively promoting its flagship product, Bazi Bujin Capsule, through various sales channels, indicating a strong growth trajectory once the business model matures [9] Future Outlook - The company plans to enhance its core technological innovation capabilities and optimize its marketing system to maintain stable product gross margins [2] - The recent regulatory changes aimed at expediting clinical trial approvals for innovative drugs are expected to accelerate Yiling Pharmaceutical's research and development processes [6] - The integration of traditional Chinese medicine with biopharmaceuticals and health products is anticipated to create new growth points for the company [9]

以岭药业作为中医药现代化的代表企业,将充分发挥其在中医药科研创新、经典名方开发及循证医学研 究方面的深厚积淀。此次合作的核心产品八子补肾胶囊,将突破既往认知局限,在京东健康平台进行合作 升级与重点推广。双方将携手深化消费者对八子补肾胶囊核心价值的认知,特别是其在女性健康调理、 对抗更年期综合征、由内而外焕发年轻态方面的独特优势,传递科学补肾与中医美学理念。 聚焦科学,重塑认知,树立中医美学标杆 8月19日,在备受瞩目的西普会上,以岭药业（002603）与京东健康正式签署深化合作,宣布共同启动"升级 抗衰中心数字营销方案"深度合作项目。 强强联合,优势互补,打造健康服务闭环 本次深化合作的核心在于充分发挥双方在各自领域的领军优势。京东健康依托其强大的平台流量、数字 营销能力及用户洞察,将重点升级打造"抗衰中心"作为核心数字化入口与转化基地。该中心将成为集专 家科学患教答疑、权威科普辟谣、抗衰秘籍聚合等功能于一体的综合平台,持续扩大正面影响力,携手以 岭药业共同精准触达并服务目标人群,对历史三年目标新老客分层并定制全周期运营策略。 此次深化合作承载着宏伟目标,双方将联合开展基于八子补肾胶囊等核心产品的真实世界研究 ...

Core Viewpoint - Yiling Pharmaceutical is positioned as a leader in the field of traditional Chinese medicine innovation, emphasizing technological innovation as its core competitive advantage and continuously increasing R&D investment to accelerate the transformation of innovative achievements [1][2]. R&D Investment and Achievements - From 2019 to 2023, Yiling Pharmaceutical's total R&D investment approached 4 billion yuan, with an expected investment of over 900 million yuan in 2024, accounting for 13.94% of its operating revenue, which is leading in the industry [2]. - The company has successfully developed and launched 17 patented traditional Chinese medicines, with a strong product portfolio focused on cardiovascular and respiratory diseases, and the Baizi Bujin Capsule is anticipated to be a significant product in the anti-aging sector [2]. - In the past two years, Yiling Pharmaceutical has made significant progress in its R&D pipeline, with two Class 1 traditional Chinese medicine innovative drug applications accepted by the National Medical Products Administration, and six additional traditional Chinese medicines in clinical stages [2]. Global Expansion Strategy - Yiling Pharmaceutical employs a dual strategy of "academic exchange + evidence-based research" to promote the global expansion of innovative drugs, collaborating with top international research institutions and publishing over 300 SCI articles [3]. - The evidence-based research results related to Yiling's Tongluo series of drugs have been published in prestigious international journals, enhancing the global recognition and influence of traditional Chinese medicine [3]. - The company has established a pharmaceutical system compliant with international GMP standards and has received certifications from the US FDA and EU EMA, with core products registered in over 50 countries and regions worldwide [3]. Financial Performance and Market Outlook - In the first quarter of 2025, Yiling Pharmaceutical reported revenue of 2.358 billion yuan and a net profit attributable to shareholders of 326 million yuan, reflecting a year-on-year growth of 7.25% [4]. - The company has attracted significant attention from the capital market, with securities firms maintaining a "buy" rating based on its competitive advantages in the respiratory and cardiovascular fields and the ongoing realization of its innovative achievements [4]. - Forecasts for net profit attributable to shareholders for 2024-2026 are 1.450 billion yuan, 1.563 billion yuan, and 1.730 billion yuan, respectively, indicating a positive growth trajectory [4].

Core Viewpoint - The third China International Supply Chain Promotion Expo highlights the importance of industrial collaboration and international cooperation, showcasing innovative developments in the supply chain sector [1] Group 1: Innovation and Development Model - Yiling Pharmaceutical has established a unique "theory-clinical-research-industry-education" innovation development model, which integrates traditional Chinese medicine theory with clinical practices and research [1] - The company has undertaken over 60 national and provincial-level projects and holds more than 800 domestic and international patents, demonstrating its commitment to innovation [1] Group 2: Evidence-Based Research - Yiling Pharmaceutical is a pioneer in conducting internationally recognized evidence-based medical research, completing over 40 studies that are among the highest in quantity and quality in the industry [2] - Significant breakthroughs have been achieved in cardiovascular disease prevention, with studies showing a 41% reduction in diabetes risk and a 36% reduction in adverse cardiovascular events [2] Group 3: International Recognition - Research on Yiling's Qi Li Qiang Xin capsules published in the journal Nature Medicine indicates a 22% reduction in major composite endpoint events for heart failure patients [3] - The efficacy of the company's products is gaining international recognition, transitioning traditional Chinese medicine from "experience-based" to "evidence-based" practices [3] Group 4: Health Product Development - Yiling Pharmaceutical's health products, including anti-aging solutions, have attracted attention at the expo, showcasing the integration of technology in traditional medicine [4] - The company has developed over ten proprietary sub-health management products and has a pipeline of more than a hundred product concepts, catering to various health needs [5] Group 5: Market Response - Domestic and international customers have praised Yiling Pharmaceutical's series of health products, indicating strong market interest and acceptance [6]

Core Insights - The third China International Supply Chain Promotion Expo was held in Beijing from July 16 to 20, showcasing cutting-edge technologies and innovations in the supply chain sector [1] - The event highlighted the Ba Zi Bu Shen capsules, a prominent product in traditional Chinese medicine aimed at anti-aging, demonstrating its unique appeal and latest research findings [1][2] Company Insights - Ba Zi Bu Shen capsules are formulated with eight natural plant seeds and precious medicinal materials, effectively intervening in ten biological aging markers, thus delaying aging and preventing age-related diseases [2] - The capsules have been clinically validated in a study published in the journal "Phytomedicine," which involved 530 participants aged 30 to 78, showing a 76.7% increase in telomerase activity among users, indicating potential longevity benefits [2][7] - The product has successfully entered markets in eight countries and regions, including Canada and Singapore, with a cumulative consumption exceeding 226 million capsules, primarily among users aged 35 and above [7] Industry Insights - The expo served as a platform for promoting the unique advantages and application prospects of traditional Chinese medicine in the anti-aging field [7] - The company aims to enhance research and development efforts in traditional Chinese medicine, contributing to scientific advancements in anti-aging [7]

Group 1 - The third China International Supply Chain Promotion Expo (Chain Expo) was held from July 16 to 20 in Beijing, showcasing vibrant cooperation between domestic and foreign enterprises in the health and wellness sector [1] - Starbucks China participated for the third consecutive time, forming a carbon reduction alliance with strategic partners and showcasing its ready-to-drink business for the first time at the expo [2] - L'Oréal, the only foreign beauty company at the expo, highlighted its innovative capabilities in the daily chemical and beauty industry, with 62% of its sales coming from products manufactured in China [2][4] Group 2 - Tsingtao Group presented its complete supply chain system at the expo, celebrating the 50th anniversary of China-Thailand diplomatic relations and emphasizing the importance of China in the global supply chain [3] - The CEO of Tsingtao Group expressed confidence in China's economic prospects and the unique advantages of its supply chain, viewing the expo as a valuable opportunity for international collaboration [3] - Traditional Chinese medicine companies showcased innovative health experiences, with Yiling Pharmaceutical presenting a series of innovative traditional Chinese medicines based on the theory of collateral diseases [4] Group 3 - China Resources Group exhibited its comprehensive health industry ecosystem, focusing on the theme of "Guarding Health Across the Chain, Creating a Better Life" through multimedia interactions and core product displays [5] - Guangdong province, as the guest province, showcased 64 enterprises, including China Resources Group and TCL, highlighting the integration of traditional medicine and modern technology [5] - The health life chain exhibition area demonstrated China's core position in the global health industry chain and the innovative fusion of traditional medicine with modern technology [5]

Core Viewpoint - The third China International Supply Chain Promotion Expo showcases the development of traditional Chinese medicine (TCM) and its integration into modern health solutions, emphasizing the importance of quality in the TCM supply chain and innovation in product offerings [2][9]. Group 1: Supply Chain and Quality Management - The quality of traditional Chinese medicinal materials is fundamental to the industry's development, with Yiling Pharmaceutical implementing strict management protocols from seed to product [3]. - Yiling Pharmaceutical has established over 60 medicinal material cultivation bases across seven major production areas in China, covering tens of thousands of acres and involving over 40 varieties [3]. - The company’s model of "company + base + farmers" not only ensures the quality of medicinal materials but also provides stable income for local farmers, achieving a balance between environmental sustainability and economic growth [3]. Group 2: Innovation in Services and Products - Yiling Pharmaceutical has developed over 560 varieties of traditional Chinese medicine granules, streamlining the preparation process to enhance convenience for consumers [4]. - The company has created a complete industrial chain that includes cultivation, research, production, sales, and health services, reinforcing the foundation for high-quality development in TCM [4]. Group 3: Research and Development - Yiling Pharmaceutical has pioneered a unique innovation model that integrates theory, clinical practice, research, industry, and education, leading to the development of patented new drugs based on traditional theories [5]. - The company has undertaken over 60 national and provincial research projects and has received multiple national awards, showcasing its commitment to advancing TCM through scientific research [5][6]. Group 4: Health Product Development - Yiling Health, a subsidiary of Yiling Pharmaceutical, has developed a range of health products targeting various demographics, including fatigue relief for professionals and anti-aging formulas for seniors [8]. - The company has created over ten proprietary sub-health management products and has a pipeline of more than a hundred product concepts, demonstrating its adaptability in the health market [8]. Group 5: Global Outreach and Academic Exchange - Yiling Pharmaceutical has successfully entered international markets with its innovative TCM products, obtaining over a hundred international approvals for various health products [9]. - The company has been actively promoting TCM globally through academic exchanges and collaborations with international institutions, enhancing the recognition of TCM in the global academic community [9].