风险提示：以上内容仅供参考，不构成投资建议。市场有风险，投资需谨慎。 根据公司最新披露的2025年半年度报告，上半年实现营业收入12.39亿元，归属于上市公司股东的扣除 非经常性损益的净利润3685.49万元，同比增长36.34%。其中，战略产品"盐酸羟考酮注射液"营业收入 同比增长逾90%，"盐酸纳洛酮注射液"中选第十批国家组织药品集中采购。在研发方面，公司多个药品 上市许可申请获得国家药监局受理。 8月26日，中关村主力资金净流入399.25万元，近五个交易日累计净流入1691.89万元。 截至2025年8月26日15时，中关村最新股价为5.63元，较前一交易日上涨0.36%。当日开盘价为5.58元， 最高触及5.67元，最低下探5.55元，成交量为20.24万手，成交金额达1.14亿元。 中关村所属化学制药板块，公司主营业务涵盖生物医药及健康品、商砼、养老医疗三大领域。作为北京 地区医药企业，公司拥有盐酸贝尼地平片、盐酸羟考酮注射液等核心产品，并布局创新药研发。 ...

中证报中证网讯（王珞）8月26日晚间，中关村（000931）（000931）发布2025年半年度报告。报告期 内，公司实现营业收入12.39亿元，同比下降2.71%；实现净利润3881万元，同比增长6.65%；扣非净利 润3685万元，同比增长36.34%。 此外，公司健康品业务持续推进"华素愈创""华素清清"等产品的终端推广和营销升级工作。报告期内， 先后参加北京国际口腔展、华南国际口腔展、东北国际口腔展、江西省口腔展会四大口腔展会。通过与 连锁药店战略合作和区域代理商合作等手段，推进产品市场覆盖范围，扩大业务规模，提升品牌知名 度。报告期内，中关村已与多家口腔诊所达成合作意向，后续公司将继续推进相关工作的进一步开展。 北京华素OTC渠道销售方面，在产品策划端，公司通过整合多元宣传手段，精准锚定目标受众，构建品 牌传播矩阵，提升品牌知名度。在销售端，紧密携手头部连锁企业，高效推进铺货进程。同时，高频次 开展市场推广活动，全方位赋能终端动销。报告期内，"华素片""盐酸苯环壬酯片（商品名：飞赛 乐）"等主要产品均较好地完成半年度销售任务；其中，"华素片"与"风度片"在乌镇健康大会中斩获"最 受药店欢迎的明星单品 ...

本报讯 （记者向炎涛）8月26日晚，北京中关村科技发展（控股）股份有限公司（以下简称"中关村"） 发布2025年半年度报告。上半年，公司实现营业收入12.39亿元，较上年同期基本持平；实现归属于上 市公司股东的净利润3880.89万元，同比增长6.65%；实现归属于上市公司股东的扣除非经常性损益的净 利润3685.49万元，同比增长36.34%。 报告期内，公司继续聚焦主业，推动精细化管理迈向更高阶段。同时，公司坚持内外结合，充分利用外 部资源，完善、丰富产品线，保持投入，夯实未来发展基础。 生物医药及健康品业务方面，公司药品生产和研发工作取得积极进展。报告期内，公司旗下北京华素收 到北京市药品监督管理局下发的《药品生产许可证》，生产范围增加原料药联苯苄唑，有利于公司优化 生产结构，丰富公司产品布局，满足市场需求。 药品销售工作方面，北京华素主要产品富马酸比索洛尔片（商品名：博苏）销量与上年同期基本持平， 核心产品盐酸贝尼地平片（注册商标：元治®）较上年同期继续保持增长；同时，战略产品"盐酸羟考 酮注射液"营业收入较上年同期增长逾90%。报告期内，"盐酸纳洛酮注射液"成功中选第十批国家组织 药品集中采购。 作 ...

8月26日晚间，中关村（000931）（000931.SZ）披露2025年半年度报告。2025年上半年公司实现营业收 入12.39亿元，同比基本持平；利润维持稳健增长，归母净利润及扣非净利润分别实现3880.89万元及 3685.49万元，同比增长6.65%及36.34%。 以核心产品盐酸贝尼地平片（注册商标：元治 ）为例。据了解，该产品用于原发性高血压治疗，在临 床上显现出良好的脏器保护作用，具备较高的安全性，因而受到市场广泛认可。药融云数据显示，早在 2022年"元治"已占据了该品种55%的市场份额。近几年来，在此基础上公司多措并举推动市场开拓，并 于2023年起未雨绸缪加快非集采市场布局，建立起"元治"扎实的市场基础，高份额基础上仍实现了近几 年20%以上的增速，2025年上半年延续正增长。此外，在集采压力下，公司另一主要产品富马酸比索洛 尔片（商品名：博苏）报告期内销量同比基本持平，也保障了公司的业绩基石。 上半年，公司医药主业地位持续巩固，生物医药板块收入占比稳步提升至80%以上。公司在以成熟产品 销售筑牢业绩根基的同时，坚持研发创新，持续丰富产品矩阵。麻精类药品出色的销售增长、多产品管 线扎实的研 ...

Core Viewpoint - Northeast Pharmaceutical has successfully transformed from traditional manufacturing to innovation-driven development since its mixed-ownership reform in 2018, significantly increasing its R&D investment and establishing itself in the advanced cell therapy sector [1][2]. Group 1: Innovation Strategy and Development - Before the mixed-ownership reform, Northeast Pharmaceutical struggled with slow market responses and insufficient R&D investment. Post-reform, the company has leveraged new advantages to enhance R&D efforts and accurately identify high-potential new drug projects [2]. - The company has adopted a three-pronged approach of "independent R&D + joint development + project introduction," establishing a biological R&D base in Shanghai and acquiring Beijing Dingcheng Peptide Source Biotechnology Co., Ltd., which has a unique technology platform in solid tumor cell therapy [2]. - In the first half of this year, Northeast Pharmaceutical initiated large-scale recruitment of master's and doctoral talents to strengthen its research capabilities, aiming to create a talent hub and technical benchmark in the biopharmaceutical field [2]. Group 2: Technological Achievements - Under the guidance of its innovation strategy, Northeast Pharmaceutical has achieved significant technological results, with 22 new products approved for production in the past four years, including various injection solutions and tablets that have contributed to continuous growth in operating performance [3]. - The company has developed over 10 tumor-targeted cell therapy products for diseases such as pancreatic cancer and colorectal cancer, enhancing its market competitiveness and providing new treatment hopes for patients [3]. - Northeast Pharmaceutical is advancing the construction of intelligent production lines, achieving full-process control and improving production efficiency while ensuring product quality stability and reliability [3]. Group 3: Social Responsibility and Employee Welfare - Northeast Pharmaceutical has invested nearly 300 million yuan in social donations for industrial poverty alleviation, rural revitalization, and pandemic relief, demonstrating its commitment to social responsibility [4]. - The company has established a comprehensive welfare policy system covering healthcare, education, and elderly care, distributing over 1.2 billion yuan in various benefits and cash bonuses to employees since the mixed-ownership reform [4]. - Looking ahead, Northeast Pharmaceutical plans to continue its commitment to social contributions and increase R&D investments in the biopharmaceutical sector to support the "Healthy China" strategy [4].

Group 1: Company Strategy and Resource Allocation - The company focuses on the pharmaceutical health sector and plans to divest non-pharmaceutical assets to optimize its resource allocation over the next 3 to 5 years [2] - The company will carefully consider market trends and the status of existing assets before making decisions on asset optimization [2] Group 2: Product Performance and Market Trends - The core product, Benidipine Hydrochloride Tablets (trademark: Yuanzhi®), saw a nearly 29% increase in revenue in 2024 compared to the previous year [2] - The market share of Yuanzhi reached 55.57% in 2024, driven by an aging population and increasing hypertension cases [3] Group 3: Sales and Marketing Strategies - The company implemented a "three-full strategy" to expand its market presence and mitigate the impact of potential centralized procurement [2] - Sales expenses increased to 44.22% in Q1 2025 from 35.75% in 2024, attributed to heightened marketing efforts to ensure strong performance [7] Group 4: Future Growth and Product Development - The company anticipates a sales revenue increase of over 100% for Oxycodone Injection in 2025, supported by expanding usage in various medical fields [5] - The company is developing new products, including Methylphenidate Hydrochloride sustained-release tablets, with significant market potential in ADHD treatment [6] Group 5: Financial Projections - The company projects a revenue of 2.943 billion yuan and a net profit of 89 million yuan for 2025 [10] - In Q1 2025, the company achieved a revenue of 616 million yuan, a 1.63% increase year-on-year, and a net profit of 15.76 million yuan, up 35.47% from the previous year [10] Group 6: Digital Transformation and E-commerce - The company is advancing digital initiatives, including the establishment of digital workshops and exploring online sales channels [7] - The health product segment is focusing on expanding its product range and enhancing e-commerce operations to meet diverse consumer needs [8]

Core Viewpoint - The company has demonstrated strong financial performance in Q1 2025, with a net profit of 15.76 million yuan, representing a year-on-year growth of 35.47%, and a non-recurring net profit of 14.86 million yuan, up 124.92% year-on-year, attracting significant attention from institutional investors [1][2]. Financial Performance - In Q1 2025, the company achieved a net profit of 15.76 million yuan, a 35.47% increase compared to the previous year, and a non-recurring net profit of 14.86 million yuan, which is a 124.92% increase year-on-year [1]. - The net profit growth rates for 2023, 2024, and Q1 2025 were 222.72%, 10.33%, and 35.47%, respectively, indicating a consistent upward trend in profitability [2]. Sales Strategy - The company has implemented a "three-full strategy" focusing on comprehensive product promotion, channel expansion, and terminal coverage, which has driven sales growth, particularly in the cardiovascular sector [2]. - The core products, including the antihypertensive drug "Yuan Zhi" (Benidipine Hydrochloride Tablets) and "Bo Su" (Bisoprolol Fumarate Tablets), have significantly contributed to sales, with "Yuan Zhi" sales expected to grow nearly 29% in 2024 [2][3]. Market Position - "Yuan Zhi" has captured a market share of 55.57% as the first generic product in China, indicating strong competitive positioning and market penetration [3]. - The company is proactively preparing for potential future participation in centralized procurement markets while focusing on non-procurement market strategies to mitigate impacts [3]. Product Development - The company is expanding its product matrix in the analgesic sector, with a focus on the opioid "Hydromorphone" series, which has seen a sales increase of 742.22% in 2024, positioning it as a significant product alongside "Yuan Zhi" [5][6]. - The company is also advancing its pipeline in the psychiatric medication sector with the development of methylphenidate formulations, targeting the ADHD market, which is projected to grow significantly [7][8]. Future Outlook - The company anticipates continued revenue and profit growth in 2025, driven by the steady performance of core products and the accelerated release of analgesic medications [9]. - The strategic focus on innovation aims to establish the company as a leading player in the pharmaceutical industry, encompassing chronic disease management and specialty medications [9].

Product Overview - The company focuses on key narcotic products, including the oxycodone series and the new drug dihydroetorphine sublingual tablets, with a comprehensive product cluster in the analgesic field [3] - The core products include oxycodone raw materials and formulations, as well as tramadol series products from subsidiary companies [3] Sales Growth and Market Potential - The sales revenue of oxycodone injection is expected to exceed 100% growth in 2025, driven by increasing market demand in various medical fields [4] - The domestic sales of oxycodone products reached CNY 1.907 billion in 2024, with the company aiming to capture a significant market share [5] R&D Progress and Future Plans - The company is developing methylphenidate products, with the chewable tablets and oral suspension currently in the development stage [6] - A collaboration with a military research institute aims to enhance the R&D capabilities for methylphenidate products [6] - The market for methylphenidate is promising, with a projected sales revenue of CNY 526 million in 2024 [7] Strategic Product Pipeline - The company is expanding its narcotic product line, with several products in different stages of development, including oxycodone sustained-release tablets [8] - The strategic layout includes a focus on chronic disease management, narcotic specialties, and mental health products [9] Market Trends and Challenges - The demand for antihypertensive drugs is expected to grow due to an aging population and younger patients with hypertension [10] - The potential for the company's flagship product, Yuanzhi, to be included in national drug procurement policies is acknowledged, with strategies in place to mitigate impacts [10]