智通财经从庭审现场及庭审纪录了解到，羚锐制药参芪降糖胶囊这款药出厂价29.5元，返点实际达到16 元，市场零售价则高达55-58元。羚锐制药公司法务在证词中指出，被告挂网销售价格低于市场价近三 成，"会冲击正常销售秩序"。 该案当庭未宣判，法官称将择期宣判。 29.5元出厂价，实际返点16元 根据新县检察院的起诉书，2023年7月至2024年7月，被告人高某挂靠青海康健云医药有限公司，利用虚 假身份与河南羚锐、湖北真奥、山西好医生等医药企业销售代表建立合作关系，再以制作药品虚假流向 的方式骗取医药企业销售代表的信任，将上述药企生产的药品通过青海康健云医药有限公司、青海华源 医药有限公司跨区域串货到合肥博先等医药有限公司囤积，之后朱某安排季某通过挂网销售等方式威 胁，迫使企业加价将原售药品购回，以此赚取差价牟利。 公诉人称，高某等人编造了青海康健云员工身份与羚锐制药在青海省的经销商宴某沟通，羚锐制药将药 卖给了高某挂靠的青海康健云医药有限公司等，青海康健云医药有限公司再将药卖给了合肥博先医药有 限公司（以下简称合肥博先）。 智通财经记者 戴高城 近日，智通财经报道了朱某、高某等人涉嫌敲诈勒索上市公司河南羚锐制药 ...

Summary of Lingrui Pharmaceutical Conference Call Company Overview - **Company**: Lingrui Pharmaceutical - **Period**: First half of 2025 - **Key Financials**: - Revenue: 20.99 billion, up 10.14% YoY - Net Profit: 4.74 billion, up 14.85% YoY - Non-GAAP Net Profit: 4.42 billion, up 12.28% YoY - Q2 Revenue: 10.78 billion, up 8.17% YoY - Q2 Net Profit: 2.58 billion, up 15.68% YoY - Q2 Non-GAAP Net Profit: 2.39 billion, up 12.2% YoY - Silver Valley Pharmaceutical (acquired): Revenue from March to June: 98.78 million, Net Profit: 13.226 million [2][3] Core Business Insights - **Sales and Marketing**: - Sales expense ratio increased to 47.37% in H1 and 48.55% in Q2 due to increased investments in OTC channels and product launches [2][5] - Focus on brand building and smart manufacturing as core growth drivers [3][18] - OTC sales strategy includes enhancing academic and agent management [4][16] - **Product Performance**: - **Transdermal Patches**: Fentanyl patch revenue grew approximately 20%, aiming for over 100 million for the year [2][9] - **Oral Medications**: Slight decline in sales for key products like Peiyuan Tongnao capsules and Danlao Tongdu tablets due to market challenges [10] - **Nasal Sprays**: Revenue of approximately 70 million, driven by increased circulation business [6][11] Financial Management - **Cost Control**: - R&D expense ratio slightly increased to 3% [5] - Focus on optimizing product structure and enhancing service quality to meet market demand [3][18] - Cash flow from operating activities increased by 20% YoY, attributed to lower spending in the previous year [23] - **Integration of Silver Valley Pharmaceutical**: - Integration progress is on track, with expected synergies in management and sales teams [11][19] - Sales from Silver Valley's products are performing as expected, with a focus on OTC market penetration [32] Market and Industry Dynamics - **Industry Challenges**: - Facing pressures from stricter healthcare cost control policies and intensified market competition [3][18] - The company is adapting to changes in consumer behavior and market dynamics [3] - **Future Outlook**: - Aiming for a 10% growth in internal revenue for the year, with strategies to enhance retail market presence [24] - Long-term strategy focuses on deepening core business areas and expanding market share [18] Additional Insights - **Product Development**: - Plans to expand product matrix through traditional and modern medicine approaches [7][22] - Emphasis on innovative drug development, particularly in respiratory and pediatric markets [17][22] - **Supply Chain Management**: - Improved cost control measures in response to fluctuations in traditional Chinese medicine prices [29][30] - Establishment of a demonstration base for key herbal materials to stabilize supply and pricing [30][31] - **Brand and Marketing Initiatives**: - Enhanced brand presence through digital marketing and community engagement [15][16] - Successful product launches and recognition in retail sales [15] This summary encapsulates the key points from the conference call, highlighting the company's financial performance, strategic initiatives, market challenges, and future outlook.