近日，天士力医药集团股份有限公司（以下简称"天士力"）发布公告称，李江山因工作变动原因，提请 辞去公司副总经理职务。根据《公司章程》及有关规定，李江山辞职申请自辞职报告送达公司董事会时 生效。 值得关注的是，此次人事变动，引起了行业对华润三九领导下的天士力的发展讨论。原天力士管理层是 否会持续更替、在国内OTC创收首位的华润三九，是否会整合当下天士力的OTC业务，天士力集团舍弃 医药业务单押国台酒业成效如何等相关问题，亦被持续关注。 日渐式微的闫希军家族 百度百科显示，（原）天士力集团创建于1994年，是一家以全面国际化为引领，以大健康产业为主线， 以大生物医药产业为核心，以生物医学工程技术为协同，以健康保健产业和医疗康复、健康养生、健康 管理服务业为两翼的高科技企业集团。 医药方面，以OTC业务为例，天士力OTC（含双跨）主要独家产品有养血清脑颗粒、养血清脑丸、穿心 莲内酯滴丸、藿香正气滴丸、荆花胃康胶丸、痰咳净滴丸、红芪口服液等。其中，有报道显示，2023 年，天士力手握的3个独家OTC（含双跨）产品穿心莲内酯滴丸、藿香正气滴丸、养血清脑颗粒销售额 均已过亿，合揽超6亿元。 医药业务或走向整合，国台酒业颓 ...

Summary of Tianjin Tasly Pharmaceutical Conference Call Company Overview - **Company**: Tianjin Tasly Pharmaceutical - **Date**: Q1 2025 Conference Call Key Points Industry and Company Positioning - Tianjin Tasly is integrating into China Resources and is formulating a 15-year strategic plan to define its positioning and business development goals within the "One Body, Two Wings" model of China Resources Sanjiu [2][3] - The company is actively collaborating with various business units within the China Resources group to implement synergistic projects aimed at consolidating core businesses and exploring new growth opportunities [2][3] Financial Performance - In Q1 2025, the company achieved revenue of 2.055 billion yuan, with pharmaceutical industrial revenue at 1.842 billion yuan, a year-on-year increase of 1.83% [2][6] - Net profit attributable to shareholders was 314 million yuan, up 6.47% year-on-year, while the asset-liability ratio remained low at 19% [2][6] - Despite facing a 15% price drop in Compound Danshen Dripping Pills, sales volume and revenue remained stable, with expectations for a growth trend in the latter half of the year [2][11] Product Performance and Market Strategy - The Chinese medicine segment is expected to maintain stable growth, driven by the promotion of three core essential drug varieties in grassroots markets and rapid growth of potential products like Scan Paper Granules and Niuhuang Qingxin Pills [2][9] - The chemical drug segment focuses on a combination of imitation and innovation, with two main products, Shuilinjia and Diqing, expected to continue stable growth [2][10] - The biological drug segment, particularly the product Puyouke, is anticipated to maintain stability, with new growth opportunities following the approval of indications for cerebral infarction [2][10][18] Strategic Initiatives - The company is implementing the 6S management system to enhance operational efficiency and overall management quality [5][26] - A focus on academic promotion and market penetration for new indications, such as diabetic retinopathy, is expected to significantly expand market potential [11][12] - The synergy with China Resources Sanjiu's commercial system is expected to enhance market coverage and brand recognition for core products [13] Risk Management - The company acknowledges the risks associated with price reductions but believes they are manageable, as evidenced by stable sales and revenue despite price drops [14] - The expansion of the grassroots sales network and the introduction of new academic promotion initiatives are expected to mitigate risks and enhance market access [14] Future Outlook - The company aims to become a leader in innovative Chinese medicine and a prominent player in the healthcare market, with a focus on leveraging the advantages of the China Resources group [5][26] - Continuous efforts will be made to optimize product lines and enhance research and development management efficiency [26] Additional Insights - The company plans to adjust its compensation structure and consider cash incentive plans in the short term, with potential long-term equity incentive plans pending approval [22] - The integration with China Resources is expected to resolve competition issues within five years, with ongoing updates to be provided [23] This summary encapsulates the key insights from the conference call, highlighting Tianjin Tasly's strategic direction, financial performance, product outlook, and risk management strategies.