深耕国内毛驴养殖布局，强化全球原料资源把控力。加强科研体 系建设，落地与国内知名院校全方位合作，建立"1 院 3 中心"创新平 台；与部分"一带一路"国家，签订毛驴产业化发展项目合作备忘录， 构建全体系的驴皮国际供应链。 股票代码：000423 股票简称：东阿阿胶 东阿阿胶股份有限公司投资者关系活动记录表 编号：2025-05 | | □特定对象调研 □分析师会议 | | --- | --- | | 投资者 | □媒体采访 √业绩说明会 | | 关系活动类别 | □新闻发布会 □路演活动 | | | □现场参观 □其他 | | | 中金公司、中信证券、中信建投、浙商证券、国金证券、兴业证 | | 参与单位名称 | 券、东吴证券、开源证券、华泰证券、华福证券、国海证券、光大证 | | | 券、国投证券、以谦基金、子竹资本、行远自迩投资、才华资管、中 | | 及人员姓名 | 信保诚基金、麦星投资、国寿安保基金等券商分析师及广大投资者朋 | | 友 | | | 时间 | 2025 年 8 月 22 日 | | 地点 | 济南 | | | 董事、总裁 孙金妮 | | 上市公司 | 独立董事 文光伟 | | 接待人员姓 ...

8月21日晚间，"滋补养生第一品牌"东阿阿胶（000423）发布2025年半年报，业绩整体稳健增长，经营 性现金流与一季度相比有明显改善。 具体来看，报告期内东阿阿胶实现营业收入30.51亿元，同比增长11.02%；归属于上市公司股东的净利 润8.18亿元，同比增长10.74%；归属于上市公司股东的扣除非经常性损益的净利润7.88亿元，同比增长 12.58%；经营活动产生的现金流量净额9.65亿元，同比增长4.70%。 作为一家中华老字号企业，东阿阿胶始创于1952年，1996年在深交所挂牌上市，2005年加入华润（集 团）有限公司。其主要从事阿胶和阿胶系列及其他中成药等产品的研发、生产和销售，是阿胶行业标准 制定的引领者，是滋补健康引领者和中药企业高质量发展的典范。 近些年，为进一步巩固行业地位、拓展增长空间，东阿阿胶持续推进内部改革与战略升级。公司 以"1238"战略为指引，深化推进胶类产业链"三产融合"协同发展，继续做强做优做大阿胶主业，精准拓 深基石业务，统筹拓展潜力产品，着力培育外延品种。其中，以"皇家围场1619"等品牌为代表的"第二 增长曲线"不断拓展滋补领域边界，为大健康行业的发展探索全新方向 ...

Group 1: Future Business Strategy - Dong-E E-Jiao will adhere to the "1238" strategy, focusing on the integration of the gelatin industry chain and enhancing its core business [1] - The company aims to improve digital capabilities and drive high-quality growth, aspiring to become a trusted leader in health supplements [1] Group 2: Investment and Acquisition Plans - Investment and acquisitions are key components of the "1238" strategy, with a focus on potential targets in the health supplement sector [1] - The company is implementing a "dual-wheel drive" strategy for investment direction, particularly in pharmaceuticals and health consumer products [2] Group 3: Raw Material Supply Assurance - The company emphasizes the sustainable supply of donkey hide, focusing on both domestic and international markets [3] - Efforts include establishing a supply network and promoting policy guidance in key countries to ensure a stable supply chain [3] Group 4: New Product Development - The "Zhuangben" brand will focus on upstream material acquisition and introduce innovative products to the market [4] - The company plans to enhance brand recognition for "Ejiao Dates" and develop a variety of health snack products [4] - A new category for "Ejiao Bird's Nest" will be created, with a focus on brand optimization and product efficacy verification [4] Group 5: Profit Distribution and Dividends - Since its listing in 1996, the company has distributed dividends 26 times, totaling 8.469 billion yuan, with an average payout ratio of 65.75% [6] - For 2024, the company plans to distribute 818 million yuan, with a payout ratio of 99.87% [6] Group 6: Revenue Projections - In 2024, Dong-E E-Jiao block products are expected to account for approximately 45% of total revenue, while compound Ejiao syrup is projected to contribute nearly 35% [6] Group 7: Brand Development Initiatives - The "Royal Weichang 1619" brand aims to establish itself as a leading men's health brand, focusing on product and category expansion [7] - The "Peach Blossom Princess Ejiao Cake" brand will undergo a comprehensive brand renewal to capture the mainstream beauty market [7] Group 8: Financial Performance Insights - The company experienced a decline in cash flow and an increase in accounts receivable due to strategic credit management and increased procurement of raw materials [8]