中新网四川新闻11月20日电(詹雨婷 贾佳 孙艳玲)19日，中石化四川销售公司旗下香格里拉市川贝生物 科技有限公司与香格里拉市人民政府在成都举行川贝母产业项目投资签约仪式。此次签约标志着企地双 方将充分整合资源优势，开启在川贝母产业领域全方位、多元化的深度战略合作，共同谱写特色生物资 源产业化发展与乡村振兴协同推进新篇章。 中共迪庆州常委、香格里拉市委书记黄龙新，中共香格里拉市常委、建塘镇党委书记李清壁，中共香格 里拉市委常委、市委办公室主任蜂云林，香格里拉市人民政府副市长徐铮；中石化四川销售公司党委书 记何声强，副总经理王建凯，总经理助理蒋雪梅，香格里拉市川贝生物科技有限公司董事长胡婷婷等出 席签约仪式。 何声强指出，中石化四川销售公司成立21年以来，逐步构建起以成品油、天然气为主业，非油品业务同 步发展的经营格局。依托中国石化强大的品牌影响力、丰富的资源储备与成熟的管理体系，已与四川16 个地方政府达成战略合作，赢得各级政府高度认可。其中，非油品板块的雅诗纸业远销全球50多个国家 和地区，成为非油品业务发展的成功典范。 何声强说，川贝母作为传统名贵中药材，药用价值突出、市场需求旺盛，具备广阔的产业发展前景 ...

Core Viewpoint - Sichuan Xinhehua Traditional Chinese Medicine Co., Ltd. has submitted its prospectus to the Hong Kong Stock Exchange for the second time after its initial attempt in April 2023 failed, marking the fifth attempt by founder Jiang Yun to take the company public after 14 years of efforts in the IPO marathon [1][4]. Company Overview - Founded in 2001, Sichuan Xinhehua has been deeply engaged in the traditional Chinese medicine (TCM) sector for 24 years, focusing on the research, production, and sales of both toxic and non-toxic TCM pieces, with a product matrix of 770 types [1]. - The company ranks second in the national TCM market with a market share of 0.4% based on projected revenue for 2024, and its products are exported to markets such as Vietnam and Malaysia [1]. Ownership Structure - The company exhibits a typical family-controlled structure, with founder Jiang Yun holding 31.5% directly and controlling an additional 15.6% through Guojia Investment, totaling 47.1% ownership [2]. - Family members are actively involved in management, with Jiang Yun's son, Jiang Ercheng, serving as Executive Director and Deputy Director of R&D [2]. IPO Attempts - Sichuan Xinhehua has made multiple attempts to go public, starting with its first application to the Shenzhen Stock Exchange in March 2011, which was voluntarily withdrawn in August 2012 [3]. - The company made a second attempt in 2020, but withdrew its application in April 2021 due to market conditions [3]. - In October 2023, the company initiated a new application for the Shenzhen Stock Exchange but voluntarily terminated the process in April 2024 [3]. Financial Performance - The company's revenue has grown from 780 million yuan in 2022 to 1.249 billion yuan in 2024, representing a cumulative growth of 60.1% over three years, although the growth rate has slowed significantly [4]. - Profit figures for 2022, 2023, and 2024 were 77.39 million yuan, 104 million yuan, and 89.11 million yuan respectively, with the decline in 2024 attributed to rising raw material costs and management expenses [5].

Core Viewpoint - New Lotus is one of the largest suppliers of traditional Chinese medicine (TCM) herbal pieces in China, ranking second in the market with a 0.4% market share and a compound annual growth rate (CAGR) of 27% from 2022 to 2024 [2][3] Company Overview - New Lotus operates a dual-pillar strategy, focusing on both the core TCM market and modern consumer-oriented solutions, serving over 1,000 hospitals and large pharmacy chains while also tapping into retail market growth [2] - The company is expanding its global presence through herbal product exports and establishing localized operations in high-potential international markets [2] Market Potential - The TCM herbal pieces market is projected to reach RMB 306.7 billion in 2024, making it the fastest-growing segment in the pharmaceutical industry [3] - New Lotus offers over 770 types and 4,900 categories of herbal pieces, with significant contributions from toxic pieces like Ban Xia and common pieces like Chuan Bei Mu and Dang Gui [3] Financial Performance - Revenue figures for New Lotus are as follows: - 2022: RMB 780.4 million - 2023: RMB 1,145.6 million - 2024: RMB 1,249.4 million - First half of 2024: RMB 598.7 million - First half of 2025: RMB 633.5 million [4] - Profit figures for the same periods are: - 2022: RMB 77.4 million - 2023: RMB 104.0 million - 2024: RMB 89.1 million - First half of 2024: RMB 42.7 million - First half of 2025: RMB 51.2 million [4]

智通财经APP获悉，据港交所10月17日披露，四川新荷花中药饮片股份有限公司(简称：新荷花)向港交所主板提交上市申请书，广发证券(香港)、农银国际 为联席保荐人。 | 纂]的[編纂]數目 : [編纂]股H股 | | | --- | --- | | | (視乎[編纂]行使與否而定) | | [編纂]數目 .. | 「編纂】股H股(可予車新分配) | | [編纂]數目 . | 「編纂」股H股(可予重新分配及 | | | 視乎[編纂]行使與否而定) | | 最高[編纂] : | 每股H股[編纂]港元,另加1.0%經紀 | | | 佣金、0.0027%證監會交易徵費、 | | | 0.00015%會財局交易徵費及 | | | 0.00565%聯交所交易費(須於申請時 | | | 以港元繳足,多繳股款可予退還) | | 面值 . | 每股H股人民幣1.00元 | 招股书显示，新荷花是中国最大的中药饮片产品供应商之一。根据弗若斯特沙利文的资料按2024年中药饮片产品收入计算，公司在中国排名第二位，在竞争 激烈的市场格局中占据0.4%的市场份额，而前五大市场参与者合共持有2.7%的市场份额。公司亦是前五大市场参与者中增长最 ...

Core Viewpoint - Sichuan Xinhehua Traditional Chinese Medicine Co., Ltd. (referred to as "Xinhehua") has submitted an application for an IPO on the Hong Kong Stock Exchange, with Guangfa Securities (Hong Kong) and Agricultural Bank of China International as sponsors. The company aims to raise funds to expand its production capacity and explore overseas markets [1][10]. Group 1: Company Overview - Xinhehua specializes in the research, production, and sales of traditional Chinese medicine pieces, ranking second in China based on revenue from traditional Chinese medicine products in 2023 [2][3]. - The company has attempted to list on the A-share market multiple times but has not succeeded [2][10]. Group 2: Financial Performance - Xinhehua's revenue for the years 2022, 2023, and 2024 was 780.4 million RMB, 1.146 billion RMB, and 1.249 billion RMB, respectively, with net profits of 77.4 million RMB, 104.6 million RMB, and 89.1 million RMB [3][4]. - The gross profit margin has been declining, with total gross margins of 21.1%, 18.5%, and 17.1% for the years 2022, 2023, and 2024 [5][6]. Group 3: Product and Market Dynamics - A significant portion of Xinhehua's revenue comes from a limited range of products, with the top five products accounting for 26.5% of total annual revenue in 2024 [5]. - The gross profit margin for toxic traditional Chinese medicine pieces decreased from 29.7% in 2022 to 19.1% in 2024, while the margin for ordinary pieces fell from 19.6% to 16.7% during the same period [5][6]. Group 4: Future Plans and Use of Proceeds - The funds raised from the IPO will be used for expanding production capacity, upgrading digital production systems, enhancing sales and marketing activities, establishing overseas sales channels in Vietnam and Malaysia, and strategic investments and potential acquisitions [10].

Core Viewpoint - The traditional Chinese medicine (TCM) decoction pieces industry is undergoing a transformation from "experience inheritance" to "scientific verification," driven by the increasing demand for standardized and convenient TCM treatments, which is leading to a capitalized moment in the industry [1] Group 1: Company Overview - Sichuan Xinhehua Chinese Medicine Decoction Pieces Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, aiming to become the "first stock of TCM decoction pieces" in Hong Kong, with over 770 varieties and 4900 specifications of decoction pieces [1][4] - As the second-largest supplier of TCM decoction pieces in China, Xinhehua has established a dual-pillar strategy of "leading position in the core TCM market + disruptive innovation for modern consumers," contributing to the modernization of TCM [1][12] Group 2: Market Changes - The company is capitalizing on four major market changes: the "quality and price" focus of centralized procurement, segmentation of distribution channels, industry specialization, and the evolving health management needs [2] - Recent policies have strengthened support for the TCM industry, with a focus on standardization and centralized procurement, leading to an average price drop of 29.5% for 21 types of decoction pieces across 15 provinces [2][5] Group 3: Product Quality and Standards - Xinhehua is the first TCM decoction pieces company in China to obtain GMP certification and has participated in the formulation of 31 national processing standards and 7 major TCM material specifications, ensuring product quality and safety [3][4] - The company has also contributed to the revision of national standards for specific TCM materials, integrating modern scientific technology into production and quality assessment [4] Group 4: Financial Performance - Xinhehua's revenue has grown from 780 million yuan in 2022 to 1.249 billion yuan in 2024, with a compound annual growth rate of 27% [9] - The company's operational efficiency is reflected in its reduced sales and financial expense ratios, which have decreased by 1.68 percentage points and 0.22 percentage points, respectively, from 2022 to 2024 [9] Group 5: Future Prospects - The market size of TCM decoction pieces reached 278.8 billion yuan in 2023 and is expected to exceed 400 billion yuan by 2030, indicating a promising outlook for the industry [12] - Xinhehua's strategy focuses on maintaining its leadership in the core TCM market while innovating for modern consumers, positioning itself to capture new growth opportunities in the TCM decoction pieces sector [12]