报告期内，公司实现营业收入4.92亿元，受行业阶段性环境影响同比有所调整，归属于上市公司股东的 净利润-2908.90万元，同比大幅收窄37.98%；扣除非经常性损益的净利润-3025.89万元，同比改善 43.62%。 销售费用同比大幅下降65.43%至1043.82万元，这一成果源于公司主动适配集采常态化趋势、精准优化 营销策略，不仅未影响业务根基，更标志着销售模式向高效化、精细化转型落地见效；管理费用同比下 降14.43%至5198.69万元，内部运营效率持续精进，冗余成本进一步压缩，为后续利润释放彻底铺平道 路。 经营活动产生的现金流量净额达1.73亿元，即便同比小幅下降13.95%仍稳居高位，充分彰显主营业务回 款能力的稳定性与强劲韧性；资产负债率稳定在67%的合理区间，长期借款降至43.58亿元，短期债务 占比进一步下降，债务结构持续优化，财务健康度与抗风险能力稳步提升。 创新药管线丰收 作为公司战略转型的核心，创新药管线在报告期内取得突破，核心产品艾本那肽（1类新药）在糖尿病 与减重两大适应症上同步推进，成为公司未来增长的关键驱动。 河北常山生化药业股份有限公司(300255)于8月22日晚发布 ...

以核心品种吲达帕胺（寿比山）为抓手，搭建覆盖一二级市场的分销网络，重塑产品价值链。生产端， 2025H1 公司CMO/CDMO 业务落地2 个项目，设备综合效率提升至61%，通过集中议价节约采购成本超 1000 万元。子公司各展所长，中央药业整合麻仁软胶囊营销团队，达成集团化统一管理；生化制药内 外贸协同，注射用尿激酶销售收入增长14%，肝素钠注射液内销涨超18%、外销激增48%；青春康源升 级营销体系，麻仁润肠丸收入增12%；三鱼大药房日销售额跻身天津零售单体药店前列。公司充分抓住 科改示范机遇，持续践行研产销联动，投资并购的积极举措，产品集群贡献稳定收入，是值得关注的稳 健资产。 风险提示：行业政策变化风险、新药研发风险、原材料供应和价格波动风险等。 截至2025H1 公司累计挖掘储备优质项目300 余个，同步推进产业并购基金设立筹备。研发创新方面， 公司2025H1 科技投入达6051 万元，投入率8%以上，研发多点突破。申请专利9 项、授权2 项，3 个核 心产品获批。前沿领域方面，公司新增4 个立项，同时深化校企协同。营销与生产双轮驱动，子公司表 现突出。 公司利润大幅增长，推动创新与产业资源深度融 ...

力生制药创立于1951年，专注于医药健康产业，从事医药产品研发、生产和销售。2024年，力生制 药"三鱼"商标入选第三批中华老字号名单，成为化学制药为数不多的老字号品牌。同年，公司入选"中 国上市公司新质生产力50强"。 聚焦创新与市场拓展，深化产业布局 今年上半年，力生制药全面启动"十五五"战略规划编制，采用"基金+直投"的模式，精准筛选优质并购 项目。力生制药表示，围绕核心战略方向，累计挖掘储备优质项目300余个，同步推进产业并购基金设 立筹备，为产业链延伸与生态构建蓄势赋能。 化学制药老字号品牌——力生制药(002393)8月21日晚间发布2025年半年度报告，公司上半年实现营业 收入7.32亿元；实现归母净利润为3.43亿元，同比增长235.04%；归母扣非净利润为1.04亿元，同比增长 5.09%。基本每股收益1.33元，较上年同期的0.40元增长232.50%。 对于上半年经营情况，力生制药表示，公司推动创新资源与产业资源深度融合，为全年高质量发展注入 强劲动能。 同日，力生制药还公告，为推动公司高质量发展，公司拟与建信股权等共同设立总规模10亿元的建生国 鑫泰达股权投资基金，首期出资5亿元，其中 ...

Core Viewpoint - Nanjing Jianyou Biochemical Pharmaceutical Co., Ltd. maintains a stable credit rating of AA for both the company and its convertible bonds, reflecting its strong market position in heparin production and sales, despite facing challenges in raw material pricing and market fluctuations [1][3][4]. Company Overview - The company specializes in the research, production, and sales of a full range of heparin products, including heparin sodium raw materials and low molecular weight heparin preparations, along with anti-tumor preparations and other sterile injectables [7][12]. - As of the end of 2024, the company reported total assets of 95.10 billion yuan and total equity of 64.88 billion yuan, with an operating income of 39.24 billion yuan and a profit of 9.92 billion yuan [7][12]. Financial Performance - In 2024, the company achieved a total profit of 9.92 billion yuan, recovering from a loss in the previous year, with a gross profit margin of 43.28%, although this was a decline from 48.45% in 2023 [5][14]. - The company’s total debt decreased by 20.68% to 20.79 billion yuan by the end of 2024, with a cash-to-short-term debt ratio of 1.67, indicating strong liquidity [5][14]. Market Position and Industry Analysis - The global heparin market is projected to grow at a compound annual growth rate (CAGR) of 5% to 7%, driven by an aging population and increasing prevalence of cardiovascular diseases [11][12]. - The company holds a competitive advantage in research and development, with 49 ongoing projects and a research investment of 532 million yuan, accounting for 13.57% of total revenue in 2024 [4][5]. Risks and Challenges - The company faces risks related to raw material supply, currency fluctuations, and trade tensions, particularly with a significant portion of its revenue (76.75% in 2024) coming from overseas sales [4][6]. - The price of standard heparin raw materials has been on a downward trend, impacting the company's revenue from this segment, which decreased by 21.05% to 7.87 billion yuan in 2024 [14][19]. Future Outlook - The company is expected to enhance its competitive edge as it expands its formulation business and continues to launch new pharmaceutical products [3][11]. - The stable cash reserves and reduced debt burden suggest that the company’s ability to service its convertible bonds will remain strong, with potential for credit rating upgrades if overseas market expansion and capital strength improve significantly [3][4].

今天，A股市场震荡调整，三大指数涨跌不一。 截至收盘，上证指数涨0.04%，深证成指跌0.19%，创业板指跌0.45%。全天成交额约1.18万亿元。 | 金陵体育 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 300651 ₪ LT | | | | | | | | | 33.72 32.00 | | 島 | 市值 | | 41.20亿 | 量比 | 1.85 | | 25.28 | | 低 | 流通 | | 23.99亿 | 换 | 54.32% | | 2.62 8.92% 29.50 | | 开 | | | 市图 185.29 | 额 | 11.44亿 | | 金陵转债 155.775 -2.80% 溢价率 -3.37% | | | | | | | | | 盘后固定交易价格 32.00 量 0 买一 44 卖一 0 | | | | | | | | | 分时 周Ｋ | 日K | | 月K | | 五日 | 車名。 | | | 均价:28.10 最新:32.00 2.62 8.92% | | | | | | | | | ...

Core Viewpoint - Changshan Pharmaceutical (300255) has received a drug registration certificate for its Heparin Sodium Injection from the Tanzanian drug regulatory authority, which is primarily used for the prevention and treatment of thromboembolic diseases. The drug is valid until April 7, 2030, indicating a positive impact on the company's expansion into overseas markets [1]. Company Summary - The registration approval is expected to positively influence the company's efforts to expand its overseas market presence [1]. - Currently, the revenue from Heparin preparations in overseas sales constitutes a low percentage of the company's total operating revenue [1]. - The sales of the drug may be affected by various factors, including changes in overseas market policies, exchange rate fluctuations, and market competition [1].