Core Viewpoint - The traditional Chinese medicine (TCM) sector is experiencing significant opportunities due to favorable policies and market developments, with a notable surge in stock performance among TCM companies [6][9]. Market Performance - On August 1, the A-share market saw a slight decline, with the Shanghai Composite Index down 0.37%, Shenzhen Component Index down 0.17%, and ChiNext Index down 0.24%. However, over 3,300 stocks rose in the market [1][2]. - The TCM sector led the market with a substantial increase, as evidenced by the 1.78% rise in the Shenwan TCM Index, with several companies, including Weikang Pharmaceutical and Tianmu Pharmaceutical, hitting the daily limit [5][6]. Policy and Industry Developments - The establishment of the Yangtze River Delta TCM Concept Verification and Achievement Transformation Center in Shanghai aims to enhance the commercialization of TCM research and development [6]. - The State Council's 2025 directive emphasizes the protection and utilization of TCM resources, indicating a supportive regulatory environment for the industry [6]. Company Performance - Notable TCM companies reported significant profit growth in the first half of 2025. For instance, Darentang's net profit is expected to reach between 18.4 billion to 20 billion yuan, marking a year-on-year increase of 180% to 204% [9][11]. - Jilin Aodong anticipates a net profit of approximately 12.36 billion to 12.9 billion yuan, reflecting a year-on-year growth of 130% to 140% [9][11]. - Tianmu Pharmaceutical successfully turned a profit during the reporting period, driven by enhanced sales in pharmaceuticals and medical devices [10]. Investment Insights - Analysts suggest that the TCM sector is poised for growth, driven by innovative products and strong brand recognition, particularly in high-value markets [7][8]. - The focus on stable cash flow to support R&D expenditures is expected to be a key strategy for TCM companies moving forward [7].

Core Viewpoint - The traditional Chinese medicine (TCM) sector is experiencing significant opportunities, driven by policy support and strong performance in the stock market [1][2]. Market Performance - On August 1, the A-share market saw a mixed performance with the Shanghai Composite Index down 0.37%, Shenzhen Component down 0.17%, and ChiNext down 0.24%, while over 3,300 stocks rose [1]. - The TCM sector witnessed a surge, with the Shenwan TCM Index rising by 1.78%, placing it among the top-performing secondary industry indices [2]. Policy and Industry Developments - The establishment of the Yangtze River Delta TCM Concept Verification and Achievement Transformation Center in Shanghai aims to enhance the commercialization of TCM research [2]. - The State Council's 2025 policy emphasizes the protection and utilization of TCM resources, indicating a supportive regulatory environment for the industry [2]. Company Performance - Notable companies such as Darentang, Jilin Aodong, and Buchang Pharmaceutical reported significant net profit growth, with Darentang's net profit expected to reach between 18.4 billion to 20 billion yuan, marking a year-on-year increase of 180% to 204% [4][5]. - Jilin Aodong anticipates a net profit of approximately 12.36 billion to 12.9 billion yuan, reflecting a year-on-year growth of 130% to 140% [5]. - Tianmu Pharmaceutical successfully turned a profit during the reporting period, driven by enhanced market strategies and sales [5]. Financial Highlights - The following companies reported substantial net profit growth in the first half of 2025: - Darentang: 19.2 billion yuan, up 192% [6] - Jilin Aodong: 12.63 billion yuan, up 135% [6] - Buchang Pharmaceutical: 5.98 billion yuan, up 158.41% [6] - The overall performance of TCM companies indicates a strong recovery and growth trajectory, supported by favorable market conditions and policy initiatives [4][5].

Core Insights - The research led by Chinese scientists reveals that extracellular vesicles from antler blastema progenitor cells can reverse bone loss and mitigate aging-related phenotypes in mice and macaques, providing a new treatment strategy for age-related diseases such as Alzheimer's and osteoporosis [1][3][11] - The findings are expected to drive the traditional deer industry towards biotechnology, creating a new ecosystem that combines ancient Chinese medicine wisdom with modern biotechnological advancements [3][4][18] Company Overview - Jilin Aodong (000623) is the largest deer product processing company in China, with over 60 years of experience in breeding sika deer and continuous research on deer antler [3][4][18] - The scientific discoveries related to deer antler have validated the traditional efficacy of Jilin Aodong's product, Anshen Bnona Liquid, which is believed to contain "longevity" secrets that will be gradually unveiled with the research outcomes [3][12][16] Market Potential - Jilin Aodong aims to integrate traditional deer antler value with cutting-edge biotechnology, potentially capturing a significant share of the "brain health" market, which is projected to be worth hundreds of billions [4][18] - The company has a strong foothold in the market, holding 60%-70% of the national market share for Anshen Bnona Liquid, which generates over 700 million yuan in annual sales [16][17] Research and Development - The research on deer antler regeneration has opened new avenues for anti-aging interventions, particularly in reversing bone loss and improving multi-organ aging [11][19] - Jilin Aodong has been actively investing in research and development, achieving breakthroughs in deer breeding technology and establishing a comprehensive disease prevention system [19][20] Policy Support - The company benefits from favorable government policies aimed at promoting the deer industry, including the recent development plan for the sika deer industry (2025-2029) that encourages the exploration of classic formulas and modern biotechnological applications [20][21] - Jilin Aodong has already obtained GMP compliance and "blue hat" certification for its health products, positioning itself well to leverage policy support for quality enhancement [20]

Core Viewpoint - Jilin Aodong Pharmaceutical Group Co., Ltd. has evolved from a state-owned deer farm established in 1957 to a modern enterprise with three major business segments: pharmaceuticals, finance, and health care, occupying an industrial park of 122 hectares, showcasing significant growth and innovation in the industry [1][3]. Group 1: Company Overview - Jilin Aodong operates 20 subsidiaries, primarily focused on pharmaceuticals, including six drug processing companies and five sales companies, which form the core production capacity of the company [3]. - The company holds 624 production approval numbers, with 312 for traditional Chinese medicine and 312 for chemical drugs, including 46 exclusive varieties and dosage forms [3]. Group 2: Financial Performance - Jilin Aodong anticipates a profit exceeding 1.2 billion yuan in the first half of the year, driven by the sustained performance of its three business segments [6]. - The investment return from Guangfa Securities, in which Jilin Aodong holds a 20.11% stake, is expected to grow by 40.69% year-on-year for the 2024 fiscal year [6]. Group 3: Business Strategy and Future Outlook - The company is expanding into the "big health" sector through subsidiaries focused on health technology and enzyme production, which are seen as new growth points [8]. - Jilin Aodong emphasizes technological innovation to foster new productive forces and accelerate industrial transformation, contributing to local employment and tax revenue [8].

Report Basic Information - Reported Company: Jilin Aodong [16] - Industry: Chemical Pharmaceuticals [2] - Research Date: July 17, 2025 [16] - Company Representatives: Wang Zhenyu (Director, Deputy General Manager, Secretary of the Board), Zhao Renhe (Director of the Board Office, Securities Affairs Representative) [16] Participating Institutions - "Innovation Sailing, King's Moment - The 20th Pharmaceutical Hundred Listed Companies Exchange Meeting (Beijing Station)" [17] - Guosheng Securities (Representative: Zhang Yu) [17] - Beijing Hongdao (Representative: Tang Yulin) [17] - Yimin Fund (Representative: Gui Guan) [17] - CITIC Securities Asset Management (Representative: Peng Kang) [17] - Ginkgo Capital (Representative: Zhang Haijun) [17] Institution Proportion - Others: 33% [21] - Securities Companies: 17% [21] - Investment Companies: 17% [21] - Fund Management Companies: 17% [21] - Asset Management Companies: 17% [21] Core Business Highlights Business Revenue Structure in 2024 - Total revenue from three major business segments (traditional Chinese medicine, chemical drugs, and chain pharmacy wholesale and retail) reached 2.273761 billion yuan, with traditional Chinese medicine contributing 1.6055413 billion yuan (61.50%), chemical drugs 276.8538 million yuan (10.61%), and chain pharmacy business 391.366 million yuan (14.99%) [22] - Revenue from the health - care business was 212.1299 million yuan, accounting for 8.13% of the total revenue [22] Key Product Analysis - **An Shen Bu Nao Ye**: With a large target audience due to the increasing number of insomnia sufferers, its sales growth is supported by consumer trust in the brand and product efficacy, and the unique geographical advantage of its raw materials. It is mainly sold outside hospitals. The company implements an "An Shen +" combination strategy to drive performance growth [22][23] - **Xue Fu Zhu Yu Kou Fu Ye**: A well - recognized product with multiple honors. Its selection in the national Chinese patent medicine procurement alliance's volume - based procurement in 2024 is expected to expand sales. The company will continue brand building, strengthen cooperation with major pharmaceutical chains, and promote clinical use [24] Project Progress - **Chinese Medicine Formula Granule Project**: As of December 31, 2024, 228.776 million yuan of the raised funds had been used. Multiple workshops passed the GMP compliance inspection on January 23, 2025. The company has obtained 525 "Listing Filing Certificates for Chinese Medicine Formula Granules" and is focusing on market development [25] Investment in GF Securities - As of March 31, 2025, the company and its wholly - owned subsidiaries held 1,529,911,767 shares of GF Securities, accounting for 20.11% of the total shares. In 2024, the company's investment income from GF Securities was 174.94045 million yuan, a 40.69% increase from the previous year [25][26] Dividend Policy - The company has formulated a "Three - Year (2024 - 2026) Shareholder Return Plan", increasing the frequency and optimizing the rhythm of dividends. It has a 17 - year history of cash dividends, with a cumulative cash dividend of 4.505 billion yuan since listing. It aims to enhance the stability and predictability of dividends in the future [26]

Group 1: Company Overview - Jilin Aodong Pharmaceutical Group Co., Ltd. reported a total revenue of 2,273.76 million CNY in 2024, with traditional Chinese medicine contributing 1,605.54 million CNY (61.50%), chemical drugs 276.85 million CNY (10.61%), and retail and wholesale of chain pharmacies 391.37 million CNY (14.99%) [2][3] - The health sector achieved sales of 212.13 million CNY, accounting for 8.13% of total revenue [2][3] Group 2: Key Products and Market Performance - The main product, "Anshen Bnona Liquid," has a broad audience due to increasing insomnia cases, with significant consumer recognition of its efficacy and quality [3] - "Xuefu Zhuyu Oral Liquid," a classic formula, has gained market attention and was selected for centralized procurement, which is expected to enhance its sales scale and market share [4] Group 3: Investment and Financial Performance - As of March 31, 2025, the company holds 1,529,911,767 shares of GF Securities, representing 20.11% of its total share capital [6] - GF Securities reported a net profit of 9,636.83 million CNY in 2024, with the company's investment income from GF Securities reaching 1,749.40 million CNY, a 40.69% increase from the previous year [6] Group 4: Shareholder Returns - The company has implemented cash dividends for 17 consecutive years, totaling 4.505 billion CNY since its listing, and plans to enhance the stability and predictability of future dividends [6]

Core Viewpoint - The event "Rational Investment Accompanying Me - Entering the Listed Company Jilin Aodong" aims to enhance communication between investors and the company, promoting rational, value, and long-term investment concepts [1] Group 1: Company Overview - Jilin Aodong has been recognized as a leading company in the Chinese pharmaceutical industry, ranking among the top 100 pharmaceutical companies in China for 11 consecutive years and awarded as one of the 500 most valuable brands in China [1][2] - The company has transformed from a state-owned deer farm to a publicly listed pharmaceutical company, expanding its business into various fields including traditional Chinese medicine, chemical drugs, health products, and food [2][3] - Jilin Aodong's product portfolio includes well-known products such as Anshen Bnnao Liquid and Xiaoer Chaigui Fever Oral Liquid, supported by a robust product hierarchy aimed at driving performance growth [2][3] Group 2: Business Strategy and Financial Performance - The company operates with a "pharmaceutical + finance + health" multi-wheel drive strategy, leveraging financial investments to enhance its core pharmaceutical business and extend its reach into biopharmaceuticals and internet healthcare [3] - Jilin Aodong holds 628 production approval numbers, with over 300 for both traditional Chinese medicine and chemical drugs, indicating a strong regulatory compliance and product diversity [3] - The company plans to maintain a stable dividend policy, with potential increases as operational performance improves, and is actively working on enhancing sales in its enzyme product line and chain pharmacy profitability [4] Group 3: Investor Engagement and Future Outlook - The event facilitated direct interaction between investors and the company's management, allowing for discussions on dividend policies, product sales, and profitability of chain pharmacies [4] - The company aims to continue its commitment to innovation and responsibility, striving for a more prosperous future while contributing to the development of the Chinese pharmaceutical industry [5]

Core Viewpoint - Jilin Aodong has established a comprehensive modern enterprise system and implemented a multi-wheel drive strategy of "pharmaceuticals + finance + health" to enhance its competitiveness and market presence [1][6]. Group 1: Company Development - Jilin Aodong started as a state-owned deer farm and evolved through the establishment of a pharmaceutical factory, shareholding reform, and listing on the Shenzhen Stock Exchange, becoming a well-known pharmaceutical enterprise [2][3]. - The company has a strong presence in the Dunhua area, leveraging local natural resources, particularly from Changbai Mountain, to develop its pharmaceutical and health businesses [2][3]. - Jilin Aodong's product portfolio includes over 628 production approval numbers, with more than 300 for both traditional Chinese medicine and chemical drugs [2][3]. Group 2: Strategic Focus - The company aims to enhance its product matrix by focusing on core products and expanding into related industries such as health food and agriculture [4][5]. - Jilin Aodong is committed to increasing R&D investment, particularly in the ginseng industry, with a target to reach a total output value of 800 billion yuan by 2025 and over 1 trillion yuan by 2030 [3][6]. Group 3: Financial Performance - In the first half of the year, Jilin Aodong expects a net profit of 1.236 billion to 1.29 billion yuan, representing a year-on-year growth of 130% to 140% [6]. - The company has made significant investments in various pharmaceutical and financial sectors, including becoming the largest shareholder of GF Securities, which has yielded substantial returns [4][7]. Group 4: Market Expansion - Jilin Aodong's investments in companies like First Pharmaceutical and Nanjing Pharmaceutical have facilitated market penetration in economically developed regions such as the Yangtze River Delta and Pearl River Delta [4][6]. - The company is actively involved in establishing funds for investments in biopharmaceuticals and medical research, enhancing its collaborative efforts in the pharmaceutical industry [7].

Group 1 - Jilin Aodong (000623) participated in an investor relations event to enhance communication between investors and the company, showcasing its business scope which includes traditional Chinese medicine, chemical drugs, and health products [1] - The company has 628 production approval numbers, with 315 for traditional Chinese medicine, and aims to leverage its brand and product quality to enhance market value and sales of key products [1] - Jilin Aodong plans to cultivate multiple core products with over 100 million yuan in sales and accelerate the development of strategic products with a market potential of 10 billion yuan [1] Group 2 - The Yanbian Pharmaceutical project has completed several production facilities, which passed GMP compliance checks and are now contributing to revenue [2] - In 2024, the health business is expected to generate 212 million yuan in sales, accounting for 8.13% of total revenue, with over 200 health products produced and sold [2] - The company has 22 registered health food certificates and 85 filing certificates, with 43 products generating over 1 million yuan in sales [2] Group 3 - Jilin Aodong is enhancing brand awareness through diverse marketing strategies, including e-commerce and social media platforms like Douyin [3] - The company is focusing on the core value of traditional Chinese medicinal materials and aims to develop high-value projects through research and innovation [3] - The health product development system is driven by consumer health trends, emphasizing research and development of functional health products [3] Group 4 - The company is investing in core quality long-term equity securities and related pharmaceutical companies, collaborating with various funds to invest in biopharmaceuticals and internet healthcare [4] - Jilin Aodong aims to strengthen its research capabilities through indirect investments in distinctive and competitive biopharmaceutical projects [4] - The company is optimizing its financial asset allocation to create a positive cycle of financial capital supporting real industry growth [4]

Group 1: Company Overview and Business Focus - Jilin Aodong Pharmaceutical Group Co., Ltd. focuses on the pharmaceutical industry, including traditional Chinese medicine, chemical drugs, and health products [2][3] - The company has 628 production approval numbers, with 315 for traditional Chinese medicine and 525 for traditional Chinese medicine formula granules [3] - The company aims to enhance its core products, such as Anshen Bnnao Liquid and Xiaoer Chaigui Oral Liquid, to achieve high-quality development and cultivate multiple billion-yuan core products [3] Group 2: Financial Performance and Shareholder Returns - The company has implemented a cash dividend policy for 17 consecutive years, with a total cash dividend of 4.505 billion yuan [3] - A three-year shareholder return plan (2024-2026) aims to increase dividend frequency and optimize the dividend rhythm, ensuring stable and reasonable returns for shareholders [3] Group 3: Health Products and Market Strategy - In 2024, the health business generated sales revenue of 212.13 million yuan, accounting for 8.13% of total revenue [5] - The company produces over 200 health products, with 43 single products generating sales revenue exceeding one million yuan [5] - The company is enhancing its marketing strategies through e-commerce channels, including short videos and live broadcasts, to boost brand awareness and sales [5] Group 4: Research and Development Initiatives - The company is focusing on traditional Chinese medicine classic formulas and formula granules, with production facilities for these products already operational [4] - The company is committed to developing high-value projects using traditional Chinese medicinal materials, such as ginseng and deer antler, to meet the growing health consumption trends [5] Group 5: Investment Strategy - The company is shifting its investment focus towards the pharmaceutical industry chain and innovative pharmaceutical enterprises, including biotechnology companies [5] - Collaborations with various funds aim to invest in distinctive and competitive biopharmaceutical projects, enhancing the company's research capabilities [5]