中青报·中青网记者 裴思童 一个在东海之滨，一个在长江上游，浙江与重庆市涪陵区相距千里，却因国家战略紧密相连。1992年， 长江三峡水利枢纽工程获全国人民代表大会批准建设，党中央、国务院做出开展对口支援三峡库区移民 工作的重大决策，浙江与涪陵签订首份对口支援协议，一段跨越山海的协作由此启程。 万凯集团相关负责人也提到，2019年，因长江经济带生态保护要求，项目原有设计方案部分用地被划入 生态保护区，企业一度面临调整投资地点的困境。经过综合评估，涪陵最终决定"移山让地"，并承担整 座荒山的开发费用，为项目顺利推进扫清障碍。 类似的故事，在涪陵不断上演。近年，涪陵持续完善营商环境工作体系，建立"AI+企业码上服务"平台 和企业服务专员制度，为每户规模以上工业企业配备专属"服务员"。针对浙企产业链两端在外、外来员 工较多等特点，实行"一企一策"精准服务，推动"企业找政策"向"政策找企业"转变，累计为浙企协调解 决各类问题50余个。 从"输血"到"造血" 浙江对涪陵的支援，不止于"输血"，更是"造血"。浙涪对口帮扶开展以来，涪陵已累计选派390余名年 轻干部赴浙江挂职锻炼。 "人才交流的本质，是发展方法论与治理思维的 ...

来源：青岛日报 从小到大，几乎人人都吃过"胶囊"这类药物。服药时，一杯热水十分贴心，但在医生看来，"用热水送 服胶囊"反而是个危险的操作。一起来看专家解读其中的原因，并提醒你哪些药物不宜热水送服。 吃胶囊药不要用热水送服 专家介绍，胶囊是临床常见的药物剂型，约占医生开具处方的20%，但它有个弱点——怕热水。 根据胶囊"囊材"的不同，可分为明胶胶囊和植物胶囊。其中，明胶是应用最多的成囊材料，这是一种蛋 白质制品，成分中85%~90%为蛋白质，不溶于冷水，但容易在温水和热水中溶解。 有试验发现，胶囊在50℃的水里浸泡10秒钟，就会变软、变黏稠。哪怕胶囊外壳只是化了一部分，也会 变得像粘了一块泡泡糖一样，拉丝、发黏。 胶囊长时间和食管接触、在错误位置溶解、药物提前释放，可能会带来以下健康风险。 如果因为水温过高破坏了结构,药物就无 法按预期到达肠道发挥应有的作用,还可 能对胃黏膜造成较强的刺激。 引发不良后果 有些胶囊属于缓释、控释型的,需要缓 慢、平稳地释放,一旦外壳提前破坏或掰 开服用,可能产生突释等不良反应。 专家提醒,尤其是软胶囊剂,药典要求存放温度 是8℃~20℃。存放温度过高或用热水送服,容易 导致粘连 ...

从小到大，几乎人人都吃过"胶囊"这类药物。服药时，一杯热水十分贴心，但在医生看来，「用热水送 服胶囊」反而是个危险的操作。 损伤食管 若胶囊粘在食管，可能在食管局部形成高渗环境，造成灼伤，甚至引发药物性食管炎。 尤其当胶囊内包裹的是刺激性较强、气味浓烈的药物时，如多西环素、利福平、布洛芬、双仑磷酸钠 等，若外壳提前受损，更易刺激食管。 2 《生命时报》邀请专家解读其中的原因，并提醒你哪些药物不宜热水送服。 吃胶囊药，不要用热水送服 上海交通大学医学院附属瑞金医院药剂科副主任石浩强介绍，胶囊是临床常见的药物剂型，约占医生开 具处方的20%，但它有个弱点——怕热水。 根据胶囊"囊材"的不同，可分为明胶胶囊和植物胶囊。其中，明胶是应用最多的成囊材料，这是一种蛋 白质制品，成分中85%~90%为蛋白质，不溶于冷水，但容易在温水和热水中溶解。 有试验发现，胶囊在50℃的水里浸泡10秒钟，就会变软、变黏稠。哪怕胶囊外壳只是化了一部分，也会 变得像粘了一块泡泡糖一样，拉丝、发黏。 胶囊长时间和食管接触、在错误位置溶解、药物提前释放，可能会带来以下健康风险。 1 伤胃 有些胶囊是肠溶的，胶囊作为保护壳一路"护送"药物进入肠道 ...

Core Insights - The eighth "Belt and Road" Traditional Chinese Medicine Development Forum and the third OTC Brand Conference will be held in Hangzhou from November 24 to 26, 2025, focusing on the internationalization of traditional Chinese medicine, brand building, and industrial innovation paths [1] Group 1: Company Overview - China National Pharmaceutical Group (China National Pharmaceutical Tai Chi) is a leading enterprise in the traditional Chinese medicine industry, invited to present at the conference with a speech titled "Tai Chi IP: From Chinese Corporate Symbol to Global Health Symbol" [3] - The company has accumulated significant brand assets, including three century-old enterprises, two time-honored brands, six items of intangible cultural heritage, and 1,317 registered trademarks domestically and internationally [4] Group 2: Brand Development Strategy - The company aims to transform "Tai Chi IP" into a unique global health symbol through a systematic strategy involving brand strategy, culture, recognition, communication, experience, and management [7] - The strategic path includes establishing a differentiated communication matrix for the mother brand, sub-brands, and a "4+1 pipeline" brand to promote a nationwide Tai Chi fashion trend [7] Group 3: International Expansion - As one of the "National Traditional Chinese Medicine Service Export Bases," the company has upgraded from "product export" to "service and model export," with over 30 product specifications entering more than 20 countries and regions, achieving nearly 100 overseas registration numbers and doubling export sales [8] - The company plans to build an international technological innovation system tailored to traditional Chinese medicine, integrating traditional theories and modern clinical efficacy to promote Tai Chi culture globally [8] Group 4: Awards and Recognition - At the conference, the company received multiple honors, with its core products ranking first in various categories of the "2025 Annual Comprehensive Statistics Ranking of Non-Prescription Drug Products" [8] - The company aims to continue promoting high-quality development in the traditional Chinese medicine industry, aspiring for "Tai Chi IP" to become a health symbol connecting tradition with modernity and China with the world [10]

Core Viewpoint - Taiji Group focuses on the production and sales of traditional Chinese and Western medicine, emphasizing key areas in health products and a diverse product matrix [2] Company Overview - The company operates in the "4+1" key areas: digestive metabolism medications, respiratory antibiotics, cardiovascular drugs, and narcotic anti-tumor medications, along with health products [2] - Notable products include: - Digestive metabolism: Taiji Huoxiang Zhengqi Oral Liquid, Tai Luo [2] - Respiratory antibiotics: Acute Support Syrup, Sinusitis Oral Liquid [2] - Cardiovascular: Tongtian Oral Liquid, Danshen Oral Liquid [2] - Narcotic anti-tumor: Morphine Sustained Release Tablets, Lofentanil Sustained Release Tablets, Xiaojin Tablets [2] - The health product matrix includes high-end refined medicinal slices and various derivative products such as herbal teas and throat lozenges [2]

Core Insights - The article highlights the strategic transformation and international expansion of Taiji Group, showcasing its improved financial performance and operational efficiency [1][2][3]. Financial Performance - In the first three quarters of 2025, Taiji Group reported a revenue of 8.088 billion yuan and a net profit attributable to shareholders of 166 million yuan [2]. - The third quarter alone saw a revenue of 2.430 billion yuan, with a net profit of 27.108 million yuan, indicating a narrowing year-on-year revenue decline to 7.13% from 27.6% in the first half of the year [2]. - The operating cash flow for the first three quarters was 166 million yuan, matching the net profit, with a significant improvement in cash flow per share from -1.24 yuan to 0.3 yuan, a year-on-year increase of 124.34% [2][3]. Operational Efficiency - Taiji Group's inventory turnover rate averaged 2.80 times per year, and total asset turnover averaged 0.70 times per year, indicating strong operational efficiency [2]. - The company successfully reduced its total expenses to 1.888 billion yuan, with the expense ratio dropping by 30.37% year-on-year, reflecting effective cost management [3]. International Expansion - Taiji Group has successfully registered over 30 product specifications in more than 20 countries, obtaining nearly 100 overseas registration approvals [4]. - The flagship product, Huoxiang Zhengqi Oral Liquid, has played a pivotal role in the company's international strategy, gaining market access in regions like Macau and Canada [4][5]. Strategic Initiatives - The company is transitioning its Huoxiang Zhengqi product line from a seasonal remedy to a year-round health product, broadening its market appeal [5]. - Taiji Group is embracing digital transformation with the "AI Digital Taiji" initiative, focusing on data-driven decision-making and marketing innovations [7]. Market Positioning - The company has positioned its products to cater to younger consumers, integrating them into lifestyle choices, such as pairing with local cuisine [6]. - Taiji Group's commitment to ESG principles is highlighted by its inclusion in the "2025 ESG Action Report," showcasing its leadership in corporate social responsibility [7].

证券代码：600129 证券简称：太极集团 公告编号：2025-085 重庆太极实业（集团）股份有限公司 关于公司 2025 年第三季度主要经营数据的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 根据《上海证券交易所上市公司自律监管指引第 3 号——行业信息披露》之《第 六号—医药制造》的相关规定，现将公司 2025 年第三季度主要经营数据披露如下： 一、报告期内分行业经营数据 二、报告期内工业主要品种按治疗领域划分经营数据 单位：万元 产品分类 主营业务收入 主营业务成本 毛利率 (%) 营业收入比 上年同期增 减（%） 营业成本比 上年同期增 减（%） 毛利率同 比增长百 分点 消化及代谢用药[注 1] 129,916 74,730 42.48 -26.57 3.42 -16.68 呼吸系统用药[注 2] 115,690 61,450 46.88 -38.34 -12.45 -15.71 神经系统用药 44,507 13,947 68.66 -12.64 14.93 -7.52 大健康产品 36,402 24,52 ...

Core Viewpoint - During the "14th Five-Year Plan" period, Taiji Group aims to become a world-class traditional Chinese medicine (TCM) enterprise, focusing on high-quality development and innovation in the TCM industry [2] Strategic Direction - Taiji Group has established a vision to become a world-class TCM enterprise, emphasizing the care for life and health [2] - The company focuses on a "4+1" product pipeline, enhancing the development of major TCM varieties and innovative drug research [2] - The "Three Sources and Three Innovations" concept is introduced to modernize and internationalize TCM [2] Talent and Inheritance System - The company is building a multi-level talent team combining old, middle-aged, and young inheritors, ensuring effective transmission of TCM culture and skills [3] - Collaboration with national masters of traditional medicine to establish innovation studios is emphasized [3] Research and Development Investment - In the first half of 2025, the company's R&D investment reached 137 million yuan, an increase of 18.12% year-on-year [4] - The core product, Taiji Huoxiang Zhengqi Oral Liquid, is supported by comprehensive genomic research to clarify its efficacy [4] - The establishment of an open collaborative innovation system is underway, integrating research with top TCM institutions [4] Digital Transformation - Taiji Group is undergoing a comprehensive digital transformation, creating a three-dimensional digital development framework for the TCM industry [6] - The digital strategy connects various business segments and enhances operational efficiency [6] Supply Chain and Sustainability - The company operates multiple green factories and has established an ecological chain from planting to production [5] - A total of 86 TCM varieties have achieved full traceability, ensuring quality and safety [5] Marketing Innovation - Taiji Group is exploring the integration of TCM with modern consumption, launching innovative products like "Huoxiang Ice Cream" [7] - The company is building a metaverse IP matrix to engage younger consumers and enhance brand communication [7] International Expansion - The company has adopted a localized strategy for international markets, successfully entering North America and Southeast Asia [8] - Taiji Group's products have been exported to over 20 countries, with nearly 100 overseas registration numbers obtained [8]

Core Viewpoint - During the "14th Five-Year Plan" period, Taiji Group aims to become a world-class traditional Chinese medicine (TCM) enterprise, focusing on high-quality development and innovation in the TCM industry [4][11]. Strategic Leadership - Taiji Group has established a vision of becoming a "world-class TCM enterprise" and a mission of "Caring for life and health" [4]. - The company focuses on a "4+1" product pipeline, emphasizing the secondary development of major TCM products and innovative drug research and development [4]. - The "Three Sources and Three Innovations" concept is introduced, which includes the origins of Chinese civilization, TCM culture, and TCM herbal medicine, aiming to modernize and internationalize TCM [4][5]. Talent and Inheritance System - The company is building a multi-level talent team that combines old, middle-aged, and young inheritors, ensuring effective transmission of TCM culture and skills [5]. - Taiji Group collaborates with national-level non-heritage inheritors and TCM masters to establish innovation studios for the inheritance of TCM techniques [5]. Research and Development Investment - In the first half of 2025, Taiji Group's R&D investment reached 137 million yuan, a year-on-year increase of 18.12% [6]. - The core product, Taiji Huoxiang Zhengqi Oral Liquid, is supported by comprehensive genomic research to clarify its efficacy and mechanism [6]. - The company is constructing an open and collaborative innovation system, partnering with academic institutions and TCM experts to enhance R&D capabilities [6]. Full Industry Chain Collaboration - Taiji Group operates four national-level green factories and five provincial-level green factories, implementing a sustainable ecological chain in its production processes [8]. - The company has established over 50 key medicinal herb planting and processing bases, ensuring compliance with GACP standards and full traceability [9]. Digital Transformation - In 2023, Taiji Group initiated a comprehensive digital transformation, creating a "Digital Taiji" framework that integrates strategic, business, and technological values [10]. - The digital infrastructure connects various segments of the TCM industry chain, enhancing operational efficiency and governance [10]. Marketing Innovation - Taiji Group is exploring the integration of TCM with modern consumer trends, launching innovative products like "Huoxiang Ice Cream" and "Huoxiang-flavored Cola" [12]. - The company has developed a metaverse IP matrix to engage younger consumers and promote its products effectively [12]. - Taiji Group has been recognized as a "National TCM Service Export Base" and has successfully exported over 30 product specifications to more than 20 countries [12][13]. Global Market Expansion - The company employs a localized strategy for international markets, adapting its products and marketing approaches to fit local consumer preferences [13]. - Taiji Group aims to leverage technological and marketing innovations as dual engines to achieve its vision of becoming a world-class TCM enterprise [13].

Investment Rating - The investment rating for the company is "Hold" with a downgrade from previous ratings [7]. Core Views - The company's performance is under pressure due to inventory digestion, with a significant decline in revenue and net profit in the first half of 2025 [2][4]. - The company is optimizing its marketing structure to enhance sales team vitality and improve internal collaboration [3]. - There is a focus on strengthening research and innovation capabilities to accelerate the commercialization of research outcomes [4]. Financial Performance Summary - In H1 2025, the company achieved revenue of 5.66 billion yuan, a year-on-year decrease of 27.6%, and a net profit attributable to shareholders of 139 million yuan, down 71.9% [1]. - The pharmaceutical segment saw a revenue drop of 44.03%, with core products experiencing significant declines [2]. - The revenue forecast for 2025-2026 has been revised down from 19.86 billion yuan to 10.44 billion yuan for 2025 and from 22.17 billion yuan to 11.03 billion yuan for 2026 [4]. Financial Data and Valuation - The company's total market capitalization is approximately 12.12 billion yuan, with a current price of 21.98 yuan per share [7]. - The projected earnings per share (EPS) for 2025 is 0.83 yuan, with a price-to-earnings (P/E) ratio of 26.43 [5]. - The company’s asset-liability ratio stands at 73.46%, indicating a relatively high level of debt [7].