Core Viewpoint - The company has announced significant changes in its governance structure, including the cancellation of the supervisory board and amendments to its articles of association, alongside updates on its financial performance and participation in national drug procurement programs [7][8][9][46]. Financial Performance - The company reported a 31.47% increase in revenue from the hygiene products segment compared to the same period last year, driven by rising demand for medical-grade sanitary napkins and increased promotional efforts [44]. - The company’s registered capital changed from RMB 42,399.7117 million to RMB 49,221.0016 million following the repurchase and cancellation of restricted stocks and the issuance of shares for asset acquisition [9][11]. Governance Changes - The supervisory board will be abolished, with its responsibilities transferred to the audit committee of the board of directors, in compliance with the revised Company Law and related regulations [8][9]. - Amendments to the articles of association include the removal of supervisory board provisions, updates on the responsibilities of the controlling shareholder, and the introduction of independent director sections [12][13][14]. Drug Procurement Participation - The company’s subsidiary, Hunan Qianjin Xiangjiang Pharmaceutical Co., Ltd., has participated in the national drug procurement process, with three products expected to be selected for the 11th batch of national drug centralized procurement [46]. - The procurement cycle for selected products will run until December 31, 2028, which could enhance the company's market presence and brand influence if contracts are signed and executed successfully [51].

Core Viewpoint - The company, Qianjin Pharmaceutical, reported significant changes in its business performance for the first half of 2025, with a notable decline in revenue from traditional Chinese medicine while experiencing growth in the health products segment [3][4]. Group 1: Financial Performance - Revenue from the traditional Chinese medicine and herbal slices segment decreased by 47.91% compared to the same period last year, while the cost of goods sold in this segment fell by 46.20, attributed to market competition and fluctuations [3]. - The health products segment saw a revenue increase of 40.27% year-on-year, with a corresponding rise in cost of goods sold by 57.48%, driven by heightened demand for medical-grade sanitary products and increased promotional efforts [3]. Group 2: Corporate Governance - The board of directors and all directors confirmed the accuracy and completeness of the financial report, taking legal responsibility for any false statements or omissions [1][7]. - The company has not proposed any profit distribution or capital reserve increase during the reporting period [2]. Group 3: Mergers and Acquisitions - The company plans to acquire 28.92% of Hunan Qianjin Xiangjiang Pharmaceutical Co., Ltd. and 68.00% of Hunan Qianjin Xieli Pharmaceutical Co., Ltd. through a combination of issuing shares and cash payment [7]. - The acquisition proposal has been reviewed and approved by the Shanghai Stock Exchange's Mergers and Acquisitions Review Committee [7][8].