预计 2026 年盘龙七片销售额将达到 6.5 亿元。目前，公司正在积极拓展基层 市场，包括乡镇卫生院和社区卫生服务中心等空白市场。在全国范围内已覆盖 30 个省份，建立了 650 余家商业合作伙伴网络，并覆盖 5,000 多家等级医疗 机构，以及渗透 3 万家零售药房和 2 万家基层医疗单元。 未来，公司计划逐步 向南方市场扩展。随着我国老龄化趋势加剧，对骨科镇痛、抗炎活血类中成药 需求增加，而盘龙七片作为骨科常用药，其临床应用超过 30 年，覆盖骨关节 炎和类风湿关节炎等高发疾病，非常符合防治需求。此外，通过规模化生产和 供应链优化，公司认为该产品仍具有很大的增长潜力。 盘龙药业 20260121 摘要 盘龙药业核心产品盘龙七片预计 2026 年销售额达 6.5 亿元，公司正积 极拓展基层市场，已覆盖全国 30 省份，拥有 650 余家商业合作伙伴， 覆盖 5,000 多家等级医疗机构和 5 万家基层医疗单元，未来计划向南方 市场扩展。 公司在中药饮片业务方面，以陕西省为中心，西安为核心逐步向外扩展， 不断扩建团队，稳步升级。已备案 488 个中药配方颗粒品种，为公司持 续发展提供坚实基础。 2025 年 ...

Product Strategy - The company focuses on a development strategy termed "one body, two wings, three depths," emphasizing orthopedic chronic diseases as the main body and integrating brand commercialization and traditional Chinese medicine innovation [3] - A diverse product matrix is being constructed, including over 100 varieties across 12 functional categories, with a strong emphasis on the proprietary product "Panlong Seven Tablets" [3][6] - The company is committed to continuous innovation in the health sector, with a focus on both existing drug business and long-term health trends [3] AI and Innovation - The company is actively engaging in AI-driven innovation in pharmaceuticals, collaborating with research institutions to build a comprehensive database for traditional Chinese medicine [4] - Plans include significant investment in regional medicinal data initiatives, particularly focusing on the "Seven Medicines" unique to Shaanxi [4] Marketing and Distribution - The company has established a dual-channel marketing network covering over 20,000 grassroots medical institutions and more than 30,000 retail pharmacies [5] - A multi-faceted marketing model integrates product promotion, academic innovation, and brand building to enhance product recognition and clinical acceptance [5] - The inventory management system ensures stable channel inventory and smooth turnover for core products [5] Product Development - The core product "Panlong Seven Gel Patch" is in clinical trials and aims to complement the oral product "Panlong Seven Tablets" for a synergistic effect in orthopedic treatments [6] - The company is advancing multiple research projects, including innovative traditional Chinese medicines and high-end formulations, to establish a robust product pipeline for sustainable growth [6]

Group 1: Company Overview and Strategy - The company focuses on innovation in pharmaceuticals, adhering to a strategic framework of "one body, two wings, and three depths" to enhance its core competitiveness [2][4] - It has established a complete industrial chain covering standardized planting, production, research and development, sales, and logistics [3][4] Group 2: Research and Development Progress - In 2025, the company accelerated its R&D efforts, with key products like the improved traditional Chinese medicine "Panlong Qining Gel Patch" receiving clinical trial approval [3] - The company aims to achieve a "21355" target for major product cultivation, developing a diverse product ecosystem that includes both oral and external applications [3] Group 3: Main Products and Market Position - The leading product, "Panlong Qipian," has a market share of 7.73% in the traditional Chinese medicine market for musculoskeletal diseases [6] - "Panlong Qipian" is recognized as a unique patented product and has been included in multiple national clinical guidelines and expert consensus [5][6] Group 4: Marketing and Sales Strategy - The company has built a comprehensive marketing network across 30 provincial administrative regions, collaborating with over 650 commercial partners [6] - It has expanded its reach to over 30,000 retail pharmacies and 20,000 grassroots medical units, creating a dual-channel sales strategy [6] - The digital marketing strategy has improved user lifecycle management efficiency by 40% and marketing response speed by 60% [6]

Core Viewpoint - The company has received approval from the National Medical Products Administration for clinical trials of its product, Panlong Qining Gel Patch, for the treatment of knee osteoarthritis [2] Group 1 - The approval includes the issuance of a "Drug Clinical Trial Approval Notice" [2] - The clinical trial will focus on the efficacy of the gel patch in treating knee osteoarthritis [2]

Core Viewpoint - The company, Panlong Pharmaceutical, has received approval from the National Medical Products Administration for clinical trials of its Panlong Qiniang Gel Patch for knee osteoarthritis [1] Company Summary - Panlong Qiniang Gel Patch is developed from Panlong Qiyao Wine, consisting of 30 medicinal ingredients including Panlong Qiyao and Zhuangjindan [1] - The new gel patch formulation offers significant advantages over the original form in terms of convenience, speed of action, and target user demographics [1] - The primary therapeutic functions of the product include promoting blood circulation, dispelling wind and dampness, and reducing swelling and pain, specifically for knee osteoarthritis with symptoms of Qi stagnation and blood stasis [1]

Core Viewpoint - The company has received approval from the National Medical Products Administration for clinical trials of its product, Panlong Qining Gel Patch, for the treatment of knee osteoarthritis [1] Company Summary - Panlong Qining Gel Patch is an improved formulation derived from Panlong Qiyao Wine, consisting of 30 medicinal ingredients including Panlong Qiyao and Zhuangjindan [1] - The new gel patch formulation offers significant advantages over the original form in terms of ease of use, speed of effect, and target user demographics [1] - The primary therapeutic functions of the product include promoting blood circulation, dispelling wind and dampness, and reducing swelling and pain, specifically for knee osteoarthritis characterized by Qi stagnation and blood stasis [1]

Core Viewpoint - The company has received approval from the National Medical Products Administration for clinical trials of its product, Panlong Qining Gel Patch, for the treatment of knee osteoarthritis [1] Company Summary - Panlong Qining Gel Patch is an improved formulation derived from Panlong Qiyao Wine, consisting of 30 medicinal ingredients including Panlong Qiyao and Zhuangjindan [1] - The new gel patch formulation offers significant advantages over the original form in terms of ease of use, speed of action, and target user demographics [1] - The primary therapeutic functions of the product include promoting blood circulation, dispelling wind and dampness, and reducing swelling and pain, specifically for knee osteoarthritis characterized by Qi stagnation and blood stasis [1]

Core Viewpoint - The company, Panlong Pharmaceutical, has received approval from the National Medical Products Administration for clinical trials of its Panlong Qiniang Gel Patch for knee osteoarthritis [1] Company Summary - Panlong Qiniang Gel Patch is developed from Panlong Qiyao Wine, consisting of 30 medicinal ingredients including Panlong Qiyao and Zhuangjindan [1] - The new gel patch formulation offers significant advantages over the original form in terms of convenience, speed of action, and target user demographics [1] - The primary therapeutic functions of the product include promoting blood circulation, dispelling wind and dampness, and reducing swelling and pain, specifically for knee osteoarthritis with symptoms of Qi stagnation and blood stasis [1]

Core Viewpoint - The company has received approval from the National Medical Products Administration for clinical trials of its Panlong Qiniang Gel Patch for knee osteoarthritis [1] Group 1: Product Development - The Panlong Qiniang Gel Patch is derived from the improved Panlong Qijiu and consists of a formula made from 30 medicinal ingredients including Panlong QI and Zhuangjindan [1] - The primary functions of the product are to invigorate blood circulation, dispel wind and dampness, and reduce swelling and pain, specifically targeting knee osteoarthritis characterized by Qi stagnation and blood stasis [1]

Financial Performance - In the first three quarters of 2025, the company achieved revenue of 841 million CNY, a year-on-year increase of 17.37% [2] - The net profit attributable to shareholders reached 89.81 million CNY, with a slight year-on-year growth of 0.26% [2] - For Q3 2025, revenue was 267 million CNY, showing a year-on-year growth of 2.24%, while net profit was 29.67 million CNY, remaining stable compared to the same period last year [2] Market Coverage - The company has established coverage in over 5,000 grade A medical institutions and penetrated more than 30,000 retail pharmacies and 20,000 grassroots medical units [3] - A network of over 650 commercial partners has been established across 30 provincial-level administrative regions, enhancing sales channels [3] Product Strategy - The company is focusing on the "Health China 2030" strategy, integrating R&D, production, and quality control to enhance product offerings [3] - A comprehensive marketing management system has been developed, employing a differentiated strategy for various products and markets [3] - The company is actively expanding its presence in the "Internet + Medicine" sector, leveraging digital marketing platforms and partnerships with major e-commerce platforms [3] Inventory Management - Channel inventory from commercial companies to hospitals is maintained at under one month, ensuring smooth turnover of core product inventories [4] Herbal Formula Granules - The herbal formula granules business is a key growth area, with 411 product varieties successfully registered and approved by the National Medical Products Administration [5] - The company is progressing with the listing of 111 products in nine provinces and is working on a second batch of 100 products [5] Research and Development - The company is advancing the development of the "Panlong Seven" gel patch, a strategic product for treating rheumatic bone diseases, which has recently received clinical approval [6] - The R&D pipeline includes other innovative drugs and chemical generics, with ongoing clinical trials for various products [6]