（文章来源：新京报） 新京报讯（记者刘旭）2月11日，湖北广济药业股份有限公司（简称"广济药业"）发布2026年向特定对 象发行A股股票预案，公司拟向控股股东长江产业集团发行股票募资不超过6亿元，扣除发行费用后将 全部用于偿还借款及补充流动资金。本次发行价格为6.32元/股。 广济药业表示，截至2025年9月30日，公司的资产负债率为62.67%，公司目前较高的资产负债率加大了 公司债务融资的成本，本次发行有利于公司优化资本结构，提高抗风险能力。同时，有利于稳固公司股 权结构，提升公司控制权稳定性；也有利于向社会公众传递积极信息，提升公司投资价值。 2025年10月以来，广济药业董事会曾四次审议通过向银行申请综合授信额度的议案，目的均为实现业务 发展和正常经营所需，包括：向中国民生银行股份有限公司武汉分行申请综合授信1.5亿元，授信期限1 年（其中中长期流动资金贷款支用额度不超过1亿元，期限不超过2年），担保方式为抵押，年利率不超 过3%；向华夏银行黄冈分行申请1.25亿元综合授信，其中1亿元可用于短期流动资金贷款，年利率不超 过2.98%，或开具1.25亿元银行承兑汇票，无抵押担保，资金用途包括采购原材料、 ...

（来源：中国改革报） 转自：中国改革报 □ 本报记者 张海莺 党的二十届四中全会明确提出，优化区域经济布局，促进区域协调发展。 近年来，河南省鹤壁市锚定区域协调发展战略，以宝山经开区、山城区、鹤山区（以下简称"三山"）统 筹发展为核心载体，通过机制创新、规划引领、产业协同、要素聚合，打破行政壁垒与发展鸿沟，推 动"内卷式竞争"转向"共赢式合作"，在豫北大地书写了统筹发展的生动实践。 机制规划双轮驱动 筑牢统筹发展根基 鹤壁市将顶层设计作为"三山"统筹的先手棋，印发《关于支持"三山"统筹促进高质量发展的意见》等文 件，建立由鹤壁市委、市政府主要领导任总召集人的联席会议制度，市、区两级同步成立协调服务专 班，形成"市级统筹、区级联动、专班推进"的工作格局，为"三山"差异化布局、统筹发展提供坚实制度 保障。 同时，鹤壁市还坚持"一盘棋"思维，"三山"联合编制宝山经开区发展规划、国土空间规划及环评报告， 同步推进安全发展评估、化工园区产业规划等专项编制，构建起"总规引领、专项支撑、分区落实"的规 划体系，成功创建河南省D级化工园区。 值得关注的是，鹤壁时丰站，作为国家重要能源通道瓦日铁路的关键支点，既是"陆上丝绸之路 ...

Core Viewpoint - Guangji Pharmaceutical has faced administrative penalties due to improper revenue recognition practices, leading to significant financial discrepancies and losses in recent years [2][3][4]. Financial Misconduct - The company’s subsidiary, Jikang Pharmaceutical, incorrectly used the gross method for revenue recognition instead of the net method, resulting in overstated revenues of 45.6 million yuan, 137 million yuan, and 138 million yuan for the first three quarters of 2022, which accounted for 25.49%, 26.68%, and 20.49% of the respective quarterly revenues [2][3]. - The company was fined 1.5 million yuan, and the chairman and CFO were each fined 800,000 yuan for their roles in the misconduct [3]. Financial Performance - In 2024, Guangji Pharmaceutical reported a revenue of 639 million yuan, a decline of 13.42% year-on-year, marking two consecutive years of negative growth [4]. - The net loss for 2024 expanded to 295 million yuan, a 110.55% increase compared to the previous year's loss of 140 million yuan [4]. - The core product line, the formulation series, saw a dramatic decline in revenue, dropping 65.26% to 61.4 million yuan, which constituted only 9.62% of total revenue [4]. Market Conditions - The company attributed its poor performance to a downturn in the overall economic environment, reduced market demand, and lower-than-expected prices due to increased competition in the vitamin market [5]. - The subsidiary Guangji Pharmaceutical (Mengzhou) faced losses due to underutilization of its 1,000-ton capacity for vitamin B12, while Guangji Pharmaceutical (Jining) also continued to incur losses [5]. Research and Development - Research and development expenditures decreased to 56.81 million yuan in 2024, a 24% reduction, with the R&D spending as a percentage of revenue falling from 10.13% to 8.89% [5]. - The company anticipates a reduction in losses for the first half of 2025, projecting a net loss of approximately 67 million to 83.5 million yuan [5].

Group 1 - Hubei Changjiang No.1 Health Industry Investment Partnership has been established with a capital contribution of 3.401 billion RMB, primarily funded by Hubei Changjiang Industrial Investment Fund Co., Ltd. and Hubei Changjiang New Kinetic Energy Private Fund Management Co., Ltd. [1] - The fund aims to accelerate the development of the biopharmaceutical and health industry in Hubei, which is a key strategic pillar industry for the province, projected to reach a trillion-level scale [1][3]. - The establishment of the fund is expected to effectively promote the construction of biopharmaceutical industrial parks and project introductions [1]. Group 2 - Guangji Pharmaceutical, as the only provincial-level listed pharmaceutical company in Hubei, is a significant subsidiary of Changjiang Industrial Group, producing various vitamin products and serving as a major supplier of Vitamin B2 globally [2]. - The fund will provide strong capital support for Guangji Pharmaceutical in terms of industrial collaboration, project implementation, mergers, and development [2]. - The fund will also establish an expert committee to provide intellectual support for project advancement, enhancing the scientific and forward-looking aspects of industry development [2]. Group 3 - Changjiang Industrial Group was established in January 2022, with a registered capital of 33.6 billion RMB and total assets of 250.9 billion RMB, managing over 700 billion RMB in funds [3]. - The health industry in Hubei has surpassed 850 billion RMB in scale, accounting for 15% of the province's GDP, with expectations to exceed 950 billion RMB by 2025, reflecting a compound annual growth rate of 12%-15% [3]. - The "14th Five-Year Plan" for the development of the health industry in Hubei includes the establishment of a 10 billion RMB guiding fund to support sectors such as biopharmaceuticals and medical devices [3]. Group 4 - By the end of 2024, the number of high-tech enterprises in Hubei's health sector is expected to exceed 1,500, marking a 65% increase since 2020 [4]. - In the chemical pharmaceutical sector, companies like Renfu Pharmaceutical and Yuanda Pharmaceutical lead in specific markets such as anesthetics and eye drops [4]. - Wuhan Optics Valley Biomedicine City has over 400 biopharmaceutical companies, forming a regional cluster advantage in areas like genetic engineering and vaccine development [4].