Core Insights - The 2025 China-France Brand Week and the 11th China-France Brand Summit were held in Paris, showcasing the importance of international collaboration and brand promotion [1] - Zhangzhou Pien Tze Huang Pharmaceutical Co., Ltd. was recognized as a representative of the Chinese traditional medicine industry and selected for the "Chinese Brands Worth Recommending to the World" project [1][6] - The summit aimed to explore new paths and opportunities for the internationalization of Chinese brands, gathering high-level representatives from both countries [1] Group 1 - Pien Tze Huang has established itself as a significant symbol of Chinese culture along the Maritime Silk Road, promoting traditional Chinese medicine internationally [3] - The company is actively exploring cross-border e-commerce and localized marketing strategies while obtaining market access in regions like ASEAN and Africa [3] - Pien Tze Huang aims to integrate traditional Chinese medicine with modern health needs through a "medicine + health" model, creating overseas consumption scenarios that combine cultural experience and health services [3] Group 2 - The company has consistently ranked among the top exporters of Chinese patent medicines, with ongoing efforts to establish Pien Tze Huang specialty stores and national medicine halls abroad [4] - As of now, Pien Tze Huang has set up one national medicine hall in Macau and 23 specialty stores in Hong Kong, Macau, and Thailand, with plans for expansion in the US, Canada, Armenia, Singapore, and Malaysia [4] - The company is also collaborating with JD Health and Tongrentang Group to explore overseas sales markets and has obtained multiple registration approvals for its products in Laos, Mozambique, and Hong Kong [4] Group 3 - With the ongoing promotion of projects like "Chinese Brands Worth Recommending to the World," Pien Tze Huang aims to transition from a Chinese brand to a global brand, showcasing the quality of Chinese manufacturing and cultural charm to global consumers [6]

Core Viewpoint - The article discusses the active participation of pharmaceutical companies, particularly Pianzaihuang, in the primary market as limited partners (LPs) in various investment funds, highlighting their strategies to seek new growth opportunities amid fluctuating performance [4][10][12]. Group 1: Pianzaihuang's Investment Activities - Pianzaihuang has committed to invest RMB 200 million as a limited partner in the CICC (Zhangzhou) Medical Industry Investment Partnership, representing 20% of the fund's target size of RMB 1 billion [4][6]. - This marks Pianzaihuang's third investment as an LP since 2025, following previous investments in the "Zhaoying Huikang Fund" and the "Gaoxin Runxin Fund," both with a scale of RMB 1 billion [4][11]. - The company has a strong cash reserve of nearly RMB 5 billion as of June 2025, allowing it to actively engage in investment activities despite recent declines in revenue and profit [12]. Group 2: Fund Details and Partners - The CICC Medical Fund aims to invest in sectors such as traditional Chinese medicine, biomedicine, medical devices, and health services, with a focus on projects related to Pianzaihuang's industry chain [6][8]. - The fund has seven limited partners, with several having connections to Pianzaihuang, indicating a strategic alignment within the investment ecosystem [8]. Group 3: Broader Industry Trends - Other pharmaceutical companies, such as Taige Pharmaceutical and Jiuzhoutong, are also becoming active LPs in the primary market, reflecting a trend among biopharmaceutical firms to diversify their investment portfolios [4][13]. - Companies like Hengrui Medicine and Kanglong Huacheng are also establishing significant investment funds, indicating a robust interest in the primary market driven by strong financial performance [14][16]. - The trend of pharmaceutical companies acting as LPs is seen as a positive signal for the venture capital and private equity landscape, providing much-needed capital to startups and investment firms [17].

证券代码：600436 证券简称：片仔癀 公告编号：2025-032 漳州片仔癀药业股份有限公司 关于公司董事、高级管理人员变动的公告 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。 一、关于董事、高级管理人员变动的基本情况 漳州片仔癀药业股份有限公司（以下简称"公司"）董事会于近日收到董事、总会计师杨海鹏先生提交的 书面辞职报告。杨海鹏先生因工作调整原因，辞去公司董事及总会计师等职务。辞职后，杨海鹏先生仍 担任顾问职务。具体情况如下： ■ 二、本事项对公司的影响 根据《中华人民共和国公司法》《漳州片仔癀药业股份有限公司章程》（以下简称"《公司章程》"）等 相关规定，杨海鹏先生的辞职未导致公司董事会成员低于法定人数，不会影响公司董事会正常运作和日 常经营。杨海鹏先生的辞职报告自送达至公司董事会之日起生效。公司将按照法定程序尽快完成选聘总 会计师的相关工作。 杨海鹏先生在担任公司董事、总会计师期间，恪尽职守、忠诚履职，勤勉尽责、兢兢业业，以良好专业 的素养和创新的理念，有力推动了公司的规范运作、财务管理及健康发展，作出了重要贡献 ...

与近一年来片仔癀参投的多只基金相似，此次拟参投的中金医疗基金也是漳州市"圆山计划"的一环。据 悉，"圆山计划"由漳州市于2024年4月启动，是漳州市为推动两岸医药医疗医养医旅融合发展，壮大中 医药产业而推出的产业政策。分批次组建总规模50亿元的产业基金，正是地方政府及国资落实"圆山计 划"的重要举措。 作为漳州市乃至全国最具竞争力的中药上市公司企业之一，片仔癀已参投漳州圆山大健康产业投资基金 合伙企业（有限合伙）、漳州台商投资区招盈慧康股权投资合伙企业（有限合伙）、漳州高鑫润信大健 康产业投资合伙企业（有限合伙）三只基金，投资金额均为2亿元，份额均为20%。此次拟投资的中金 医疗基金，正是"圆山计划"设立的第四只产业基金。 公告指出，本基金以医疗大健康为拟投资领域，覆盖中医药、生物医药、医疗器械、医疗服务、日化美 妆和康养大健康等相关产业，包括但不限于片仔癀产业链项目、片仔癀产业园以及招商引资落地漳州的 项目。 值得关注的是，片仔癀公司近年来正积极推动医药主业经营及相关产业投资，一方面充分发挥自身品牌 价值以及在生物医药产业链上下游的资源优势，持续在中成药、化药创新药、大单品、医药商业、日化 美妆等五个方面下 ...

9月25日，由紫荆文化集团主办、紫荆杂志社承办的"2025香港国际中医药大会"在香港会议展览中心盛 大启幕。本次大会以"推动中医药高质量走向世界"为主题，汇聚来自中国内地及港澳台地区、东南亚等 国家和地区的近500位专家学者、行业领袖及企业代表，包括20余位院士、国医大师、岐黄学者，以及 超过130家参展机构。漳州片仔癀药业股份有限公司（以下简称"片仔癀公司"；股票代码：600436.SH） 作为中华老字号企业及中医药文化的重要代表受邀参展，携旗下多款核心产品亮相，全面展现片仔癀公 司在传统中医药现代化与国际化进程中的积极探索与成果。 片仔癀公司展区集中展示了包括片仔癀、片仔癀牌安宫牛黄丸、复方片仔癀含片、茵胆平肝胶囊等在内 的经典中成药品，以及化妆品与保健食品系列等大健康领域产品，吸引了众多重要嘉宾、专业观众、行 业专家及媒体前来参观交流、驻足咨询。来访者纷纷对片仔癀公司传承非遗技艺与推动科技创新的成果 表示赞赏，并高度认可片仔癀公司的产品品质与文化内涵。现场洽谈气氛活跃，进一步提升了品牌在粤 港澳大湾区及国际市场的知名度。 1.依托区域优势开拓"出海"新途径 此次参展是片仔癀公司推动中医药国际化、加速品牌 ...

Group 1 - The 2025 China-France Brand Week and the 11th China-France Brand Summit will be held at the Eiffel Tower in Paris from September 24 to 26, coinciding with the 50th anniversary of China-Europe diplomatic relations, marking a significant opportunity for brand, cultural, and business exchanges [1] - The theme of the Brand Week is "Breaking the Deadlock: High Premium Brands Going to Europe," focusing on how to promote Chinese brands with high premiums into the European market, achieving global high value and cultural resonance [3] - The event will gather important figures from politics, business, and culture from both China and Europe, including CEOs/CMOs of leading brands, renowned creatives, local KOLs, and mainstream media, to share insights and experiences on opening the European market for Chinese brands [3][5] Group 2 - The Brand Week will feature two core segments: "Master Forum" and "Roundtable Forum," providing high-quality discussions and practical insights [5] - The Master Forum will invite industry leaders to share valuable experiences and insights on challenges in international markets and building high premium brand value [5] - The Roundtable Forum will focus on hot topics related to brand expansion, facilitating interactions among multinational companies, creatives, and policy experts to provide actionable paths for Chinese brands to break into the European market [5] Group 3 - Zhangzhou Pien Tze Huang Pharmaceutical Co., Ltd. will participate in the Brand Week as a cooperative brand, representing Chinese medicine culture and its internationalization efforts [5] - The company has been promoting its products in international markets, including France, since the Belt and Road Initiative, enhancing international exchanges and cooperation in traditional Chinese medicine [5]

Core Insights - The price of cow bile (Niu Huang) has skyrocketed to 1.65 million yuan per kilogram, up from 110,000 yuan a decade ago, highlighting its increasing value in the market [1][9] - Cow bile is highly regarded in traditional Chinese medicine for its medicinal properties, particularly in emergency treatments for conditions like stroke and cerebral hemorrhage, where its use has shown a 37% improvement in patient recovery rates [1][3] Market Dynamics - The formation of cow bile is rare, occurring in only 3 to 4 out of every million cattle, due to specific health conditions that allow for its development over several years [3] - The shift from traditional free-range farming to large-scale cattle farming has reduced the likelihood of bile formation, as cattle are typically slaughtered after 20 months, limiting their ability to develop bile [3] - The retail market for An Gong Niu Huang Wan has grown significantly, from approximately 1 billion yuan a decade ago to 5-6 billion yuan today, driven by increasing demand [3] Alternatives and Innovations - Artificial cow bile has emerged as a cheaper alternative, costing only a fraction of natural bile, but its effectiveness in treating severe conditions is limited [5] - Researchers are exploring methods to cultivate cow bile through biological induction and laboratory techniques, which could significantly increase production, although market acceptance remains uncertain [7] Price Trends - Despite fluctuations, cow bile prices have remained high, with projections indicating that they may stabilize between 1.2 million to 1.4 million yuan per kilogram in the future [9] - The price of cow bile is currently nearly three times that of gold, reflecting its unique market position and the interplay of supply and demand dynamics [9]

Group 1 - The 25th China International Investment and Trade Fair (CIFIT) was held in Xiamen, focusing on global investment opportunities and cooperation development [1] - Pizhou Pharmaceutical, as a leading enterprise in the traditional Chinese medicine health industry in Zhangzhou, showcased its industry advantages and development vitality at the fair [1][3] - The theme of the fair was "Join Hands with China, Invest in the Future," highlighting investment hotspots and opportunities [1] Group 2 - Pizhou Pharmaceutical presented a diverse range of high-quality health products, including traditional medicines and health foods, emphasizing its product matrix [3] - The company highlighted its core business in traditional Chinese medicine while expanding into biomedicine, cosmetics, and health food sectors [5] - Pizhou Pharmaceutical is actively implementing the "Healthy China" strategy and aligning with local government initiatives to promote the integration of traditional Chinese medicine [5]

Core Viewpoint - Pianzaihuang, a traditional Chinese medicine brand, is revitalizing its heritage through innovation and modernization, focusing on research breakthroughs and industry expansion to adapt to contemporary consumer needs [1][3]. Historical Background - The origins of Pianzaihuang date back to the late Ming Dynasty when a court physician created a secret formula for treating ailments, which later became widely used by the local population [2]. - The brand evolved into a company in 1999 and was listed on the Shanghai Stock Exchange in 2003, marking the beginning of its modern journey [2]. Research and Development - Pianzaihuang is recognized as a national high-tech enterprise and has established multiple research platforms, focusing on developing new drugs for chronic and difficult diseases [3]. - The company has 18 ongoing research projects and aims to validate traditional medicine through modern scientific methods, with significant achievements in 2024 recognized by awards [3]. Marketing and Consumer Engagement - The company is actively engaging younger consumers through social media platforms like Douyin and Xiaohongshu, using creative content to share the brand's story and benefits [3]. - A Douyin challenge in 2025 garnered significant attention, with 180 million views and nearly 10,000 participants, showcasing the brand's successful outreach [4]. Business Expansion - Pianzaihuang is diversifying its business into cosmetics, daily chemicals, and health foods, creating a comprehensive health industry ecosystem [5]. - The cosmetics line, particularly the Pearl Cream and Pearl Paste, has become a household name in Fujian, with a strategic focus on positioning and branding [5][6]. Product Development - The company has successfully launched several high-revenue products, including the Pearl Cream and various skincare lines, contributing to the growth of domestic cosmetics consumption [6]. - Pianzaihuang is expanding its daily chemical products, initially focusing on oral care, with the Pianzaihuang Toothpaste becoming a popular choice among consumers [6]. Health Food Initiatives - The health food segment includes a variety of product lines, such as tea and dietary supplements, with collaborations to enhance the health benefits of tea [7]. - New herbal drinks and instant products are being introduced to cater to modern consumer preferences, emphasizing the concept of "food as medicine" [7]. Industry Trends - The traditional medicine sector in Zhangzhou is experiencing a renaissance, with Pianzaihuang leading initiatives to modernize and attract younger consumers [8][9]. - The company has opened numerous clinics and health centers, significantly increasing patient visits and enhancing local healthcare access [8]. Financial Performance - In 2024, the combined revenue of 30 traditional brands in Zhangzhou exceeded 10.4 billion, reflecting an overall growth of 11.22% [10].

Group 1 - The core viewpoint of the news is that the "2025 New Quality Productivity Investment Institution Soft Power Ranking" was released, with Pizhou Pharmaceutical (600436) being recognized as the only listed company in the traditional Chinese medicine industry to win the "Top 30 Industrial LP" honor [1][2] - The ranking evaluates investment institutions based on six dimensions: value creation, service empowerment, organizational governance, market influence, innovation-driven, and social responsibility, using both quantitative and qualitative analysis [1] - The Chinese private equity investment industry is undergoing a paradigm shift, necessitating investment institutions to explore new development paradigms and better understand new quality productivity [1] Group 2 - The award signifies Pizhou Pharmaceutical's successful transition from traditional pharmaceutical manufacturing to a dual-driven model of "industry + capital," gaining market recognition for its achievements [2] - As a time-honored Chinese medicine enterprise, Pizhou Pharmaceutical has actively accelerated its investment in the industry by establishing multiple industrial funds and identifying potential acquisition targets, effectively integrating upstream and downstream resources [2]