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]

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 ...

Core Viewpoint - The company has officially launched a real-world study involving its exclusive product, Yindan Pinggan capsules, aimed at liver and gallbladder diseases, marking a significant milestone in the development of traditional Chinese medicine [1][2] Group 1: Research Overview - The real-world study is a large-scale research project involving 3,000 participants, focusing on modern diseases such as metabolic-associated fatty liver disease and alcoholic liver disease [2] - The study aims to collect clinical efficacy data in real-world treatment settings, specifically evaluating the capsules' effectiveness in reducing liver fat content, alleviating chronic cholecystitis pain, and improving liver function [2] Group 2: Strategic Implications - The successful initiation and participant enrollment in the study highlight the company's commitment to advancing traditional Chinese medicine through scientific innovation and secondary development [2] - The company plans to continue promoting evidence-based research in traditional Chinese medicine, aiming to enhance the brand strength of liver and gallbladder medications and provide new treatment strategies for liver diseases [2]

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].

Core Viewpoint - The company, Pianzaihuang, reported a decline in revenue and net profit for the first half of 2025, while maintaining a strong brand presence and expanding its product lines in both the pharmaceutical and cosmetics sectors [1][2]. Financial Performance - The company achieved total revenue of 5.379 billion yuan in the first half of 2025, a year-on-year decrease of 4.81% [1] - The net profit attributable to shareholders was 1.442 billion yuan, down 16.22% year-on-year [1] - The company plans to distribute a cash dividend of 14 yuan per 10 shares, totaling 845 million yuan [1] Industry Position and Brand Value - Pianzaihuang is recognized as a leading traditional Chinese medicine brand with a history of nearly 500 years and is listed as a national-level protected variety [1] - The brand value is reported at 43.739 billion yuan, ranking first in the 2024 Chinese Time-honored Brand List [1] Product Development - In the pharmaceutical manufacturing sector, the company generated 2.985 billion yuan in revenue, reflecting a year-on-year growth of 3.15% [1] - The gross margin for pharmaceutical products was 59.95%, a decrease of 7.6 percentage points compared to the previous year [1] - The cosmetics segment reported revenue of 320 million yuan, down 17.01% year-on-year, with a gross margin of 61.45%, down 3.08 percentage points [1] Research and Development - The company has made significant progress in secondary development of traditional Chinese medicine, completing 100% case enrollment for three projects related to primary liver cancer [2] - The company is advancing two new drug projects and has 18 drugs under research, including five traditional Chinese medicine clinical studies [2] Market Expansion - As of July, the company has opened a total of 525 national medicine halls, with 66 new openings during the reporting period [3] - The company has established strategic partnerships with major retail chains, achieving coverage of over 100,000 terminal stores [3]

Core Viewpoint - The traditional Chinese medicine giant Pianzaihuang (600436) is experiencing its first decline in net profit in nearly 11 years, with a significant drop in both revenue and net profit in the first half of 2025 compared to the previous year [1][3]. Financial Performance - In the first half of 2025, Pianzaihuang reported revenue of 5.379 billion yuan, a year-on-year decrease of 4.81%, and a net profit attributable to shareholders of 1.442 billion yuan, down 16.22% [1]. - The last time the company saw a decline in net profit was in 2014, with consistent growth in revenue and profit from 2015 to 2024 [1]. Cost Pressures - Despite stable revenue, the company faces significant cost pressures due to historically high prices of key raw materials, which have squeezed profit margins [3]. - The price of natural cow bile, a critical raw material, rose from 650,000 yuan per kilogram in January 2023 to 1.65 million yuan per kilogram, before slightly decreasing to 1.5 million yuan per kilogram [3]. Price Adjustments - In response to rising costs, Pianzaihuang announced a price increase for its main product, Pianzaihuang tablets, from 590 yuan to 760 yuan per piece, effective from May 2023 [3]. - The price adjustment had some positive impact on revenue but did not lead to significant profit growth [4]. Diversification Efforts - Pianzaihuang is actively seeking a "second growth curve" through diversification into cardiovascular drugs, cosmetics, and daily chemical products, but these new ventures have not yet contributed significantly to profits [5]. - The company's diversification strategy, initiated in 2014, includes a focus on pharmaceutical manufacturing as the core, with health products and cosmetics as supplementary areas [5]. Performance of New Ventures - Revenue from the cosmetics and daily chemical segments has been declining, with 2021 revenues of 840 million yuan down 7.05% year-on-year, and further declines in subsequent years [6]. - The company is facing challenges from both healthcare policy adjustments and a contracting consumer market, prompting a focus on core business operations [6]. Investment Strategies - Pianzaihuang has made several investments in industry funds within the past year, aiming to discover and cultivate new business growth points [6]. - The company’s investment management subsidiary plans to invest in health-related industries to reduce reliance on traditional products [6].

Group 1 - The recent outbreak of Chikungunya fever in certain southern cities of China has led to local transmission, prompting the issuance of the 2025 version of the Chikungunya fever diagnosis and treatment plan by the National Health Commission and the National Administration of Traditional Chinese Medicine [1] - The treatment plan emphasizes that Chikungunya fever is primarily transmitted through bites from Aedes mosquitoes carrying the virus, and there is currently no specific treatment available, focusing instead on symptomatic supportive care [1] - The plan also highlights the role of traditional Chinese medicine in treating Chikungunya fever, categorizing it under the "damp-heat" syndrome, with specific treatment methods outlined for the acute phase [1] Group 2 - Pianzaihuang Pharmaceutical Co., Ltd. is noted for its production of traditional Chinese medicine, including the well-known "An Gong Niu Huang Wan," which is made from selected authentic medicinal materials and adheres to traditional manufacturing processes [1] - The company has a long history and is recognized as a time-honored brand in China, producing over 20 varieties of traditional Chinese medicine, including Pianzaihuang and An Gong Niu Huang Wan [1] - Pianzaihuang was previously included in the 2014 Dengue fever treatment guidelines, indicating its established role in the treatment of viral infections [1]

Core Viewpoint - The article highlights the strategic initiatives of the company in promoting traditional Chinese medicine and health products, focusing on product development, international expansion, and investment in the health industry [4][5][6]. Group 1: Product Development and Market Strategy - The company is committed to enhancing its flagship product, Pianzaihuang, and expanding its product line with significant items such as the compound Pianzaihuang lozenge and Yindan Pinggan capsules, continuously enriching its "big product" matrix [5]. - The cosmetics subsidiary has implemented a long-term incentive mechanism based on excess profit sharing, successfully launching several products that have achieved over 100 million in sales [5]. Group 2: International Expansion - The company actively participates in national-level events to promote the internationalization of traditional Chinese medicine, including the "Belt and Road" conference and various international trade expos scheduled for 2025 [5]. - The company is involved in multiple international trade fairs, enhancing its global presence and market reach [5]. Group 3: Investment in Health Industry - Since 2024, the company has established three funds, each with a scale of 1 billion, focusing on investments in traditional Chinese medicine, biomedicine, medical devices, and health-related industries [5]. - The company's equity stake in these funds ranges from 20% to 30%, indicating a strong commitment to the health sector [5]. Group 4: Research and Development - In 2024, the company is advancing clinical research on 11 projects related to Pianzaihuang and other traditional Chinese medicine products, laying the groundwork for expanding clinical applications [6]. - The company has a robust pipeline with 14 ongoing new drug projects, including two new traditional Chinese medicine drugs entering clinical trials [6]. - Recent advancements include the completion of Phase I clinical research for a chemical drug and the initiation of Phase II trials for another, showcasing the company's commitment to innovation [6].

Core Viewpoint - The company, Pianzaihuang Pharmaceutical Co., Ltd., reported a solid performance in 2024, achieving a consolidated revenue of approximately 10.788 billion yuan, a year-on-year increase of 7.25%, and a net profit attributable to shareholders of about 2.977 billion yuan, up 6.42% from the previous year [4][5][6]. Group 1: Meeting Procedures and Governance - The 2024 Annual General Meeting (AGM) will be held on June 20, 2025, at 09:00, at the Zhangzhou Xiangjiang Hotel [3]. - The meeting will include a verification of the identity of attendees, and shareholders will have the right to speak, inquire, and vote [2][3]. - Voting will be conducted by registered ballot, with each share representing one vote [2][3]. Group 2: Business Performance - The company achieved a consolidated revenue of approximately 10.788 billion yuan in 2024, representing a 7.25% increase year-on-year [4]. - The net profit attributable to shareholders was about 2.977 billion yuan, reflecting a 6.42% increase compared to the previous year [4]. - The company paid approximately 14 billion yuan in cash dividends, accounting for 50.04% of the net profit attributable to shareholders [9]. Group 3: Honors and Recognition - The company was recognized as one of the "Top 100 Enterprises in Comprehensive Competitiveness of Traditional Chinese Medicine Industry" and received multiple awards for its brand value and cultural heritage [5][6]. - The company ranked first in the market capitalization of the traditional Chinese medicine industry, with a market value exceeding 120 billion yuan [6]. - The company received various awards, including the "2023 Golden Bull Most Investment Value Award" and "2024 Top 20 ESG Competitiveness in Chinese Pharmaceutical Listed Companies" [6]. Group 4: Research and Development - The company is focusing on enhancing its independent innovation capabilities, with ongoing clinical research on 14 new drug projects [12][13]. - The company has established partnerships with over 10 academicians for collaborative projects, aiming to accelerate technological breakthroughs [13]. - The company is actively involved in national key research projects, enhancing its research capabilities in traditional Chinese medicine [13][14]. Group 5: Future Plans - The company plans to increase its new drug projects and clinical research initiatives, aiming to launch 2-3 new drug projects in the coming year [21]. - The company will focus on expanding its market presence in traditional medicine channels and new consumer markets [21]. - The company aims to enhance its brand visibility through new media and targeted marketing strategies [21].