Core Viewpoint - The article discusses the increased activity of mosquitoes in autumn and the importance of effective mosquito repellent methods due to the prevalence of diseases like Chikungunya and Dengue fever [1][4]. Group 1: Mosquito Activity - Autumn mosquitoes are more aggressive than summer mosquitoes, with peak activity occurring when temperatures are between 25-30℃ and humidity is at 70%-80% [4][6]. - Mosquito density typically follows a "camel-shaped" curve, with a peak in activity during August and September after a decline in June due to high temperatures [6]. Group 2: Key Components of Mosquito Repellents - The effectiveness of mosquito repellents depends on their active ingredients and concentration, which determines the duration of protection [7]. - Three main categories of effective mosquito repellent ingredients are recognized: chemical, plant-based, and insecticidal [7]. Group 3: Chemical Repellents - DEET is the most effective chemical repellent, with concentrations of 5%-30% providing 2-12 hours of protection, suitable for prolonged outdoor activities [7]. - Other chemical repellents like IR3535 and Picaridin are less irritating and suitable for children, offering 4-8 hours of protection [9]. Group 4: Plant-Based Repellents - Lemon eucalyptus oil is noted for its effectiveness but has a shorter duration of 2-6 hours and is not recommended for children under 3 years due to potential allergic reactions [9][11]. - Natural ingredients like citronella and menthol are less effective and more suitable for short-term use [9]. Group 5: Insecticidal Products - Pyrethroids, commonly found in mosquito coils and electric repellents, can disrupt mosquito nervous systems and provide both repellent and insecticidal effects, but require proper ventilation [9]. Group 6: Market Products and Consumer Caution - Many popular products claiming to repel mosquitoes using ultrasound or magnetic fields lack scientific backing and should be approached with caution [11]. - Products containing plant oils often do not provide comprehensive protection and may only work in close proximity [11]. Group 7: Contextual Use of Repellents - Different scenarios require tailored mosquito repellent solutions, such as using sprays with 20% DEET or 10% Picaridin for outdoor activities, and milder formulations for children [12][14]. - Indoor protection can be achieved with electric mosquito repellents, while physical barriers like nets are recommended for infants [14][16].

Core Viewpoint - Hangzhou Tianmu Mountain Pharmaceutical Co., Ltd. reported significant revenue growth and a return to profitability in the first half of 2025, driven by increased sales and effective management strategies [2][9]. Company Overview and Financial Indicators - The company achieved operating revenue of approximately 103.60 million yuan, a 73.97% increase compared to the same period last year [2][15]. - The total profit for the period was approximately 7.12 million yuan, a significant recovery from a loss of 21.38 million yuan in the previous year [2][15]. - The net profit attributable to shareholders was approximately 10.25 million yuan, compared to a loss of 18.50 million yuan in the same period last year [2][15]. - The net cash flow from operating activities improved by 61.35%, reaching approximately -10.87 million yuan, compared to -28.13 million yuan in the previous year [2][15]. - The company's total assets decreased by 8.33% to approximately 404.71 million yuan, while net assets attributable to shareholders increased by 19.56% to approximately 62.63 million yuan [2][15]. Business Operations - The company operates in the pharmaceutical manufacturing industry, focusing on traditional Chinese medicine, Western medicine, raw materials, and health products [3][4]. - It has established modern production bases in Hangzhou and Huangshan, compliant with national GMP standards, and holds 99 drug approval numbers [3][4]. - The marketing strategy emphasizes a "three-chain collaboration" approach, integrating the industrial chain, innovation chain, and supply chain to enhance product innovation and market coverage [3][4]. Industry Context - The pharmaceutical manufacturing industry is strategically important for national economic development, with ongoing reforms aimed at improving quality and promoting innovation [6][8]. - The "14th Five-Year Plan" encourages pharmaceutical innovation and the development of high-end production technologies, particularly in traditional Chinese medicine [6][8]. - The market for the aging population, projected to reach approximately 7 trillion yuan by 2025, presents new opportunities for growth in the health sector [7][8].

Core Viewpoint - Tianmu Pharmaceutical has made significant progress in product registration and market adaptation, focusing on innovative health products while addressing investor concerns about its growth strategy and market positioning [2][3][4]. Group 1: Financial Performance - As of August 8, 2025, Tianmu Pharmaceutical's stock closed at 14.91 yuan, up 2.12%, with a trading volume of 66,600 shares and a transaction value of 98.26 million yuan [1]. - The company reported a significant improvement in its financial performance, with a net profit margin exceeding 22% in 2024, and the stock price increased by over 50% from the end of 2024 to June 2025 [4]. Group 2: Product Development and Market Strategy - The company has received production licenses for approximately 40 new drugs, with six products currently in production and sales, including sugar-free formulations to cater to market demands [2][3]. - Tianmu Pharmaceutical is actively conducting market research to prioritize the production of drugs with high market demand and favorable prospects, aiming to enhance product diversity and applicability [3]. - The company is also exploring collaborations with well-known manufacturers to innovate health products that combine traditional Chinese medicine with consumer goods [3]. Group 3: Investor Relations and Corporate Governance - The company has maintained an open but cautious approach towards mergers and acquisitions, monitoring market trends and potential integration opportunities [4]. - As of July 31, 2025, the number of shareholders stood at 10,088, indicating a stable investor base [5]. - On August 8, 2025, the net inflow of main funds was 3.85% of the total transaction value, reflecting investor interest in the company's stock [5].

Group 1 - The article provides a skincare and mosquito prevention guide during the summer season, emphasizing the importance of protecting the skin from sun exposure and insect bites [1] - Traditional methods such as using herbal sachets and planting specific plants like mint and lavender are suggested for natural mosquito repellent [2] - The article highlights the timing of mosquito activity, recommending avoidance of outdoor activities during dawn and dusk, and suggests wearing protective clothing [2] Group 2 - For soothing mosquito bites, the article recommends using herbal remedies like mint and wild chrysanthemum, which can alleviate itching and reduce inflammation [3] - It also mentions the use of topical treatments such as calamine lotion and mild corticosteroids for more severe reactions [3] - The article advises against scratching the affected areas to prevent further irritation [3] Group 3 - The article suggests dietary adjustments to combat summer heat, recommending bitter foods like bitter lettuce and lotus leaf porridge to help regulate body temperature and reduce moisture [4] - It emphasizes the importance of hydration and consuming high-fiber foods to maintain overall health during the summer [4] - The article concludes that a proper diet can help reduce the body's attractiveness to mosquitoes, thereby minimizing bites [4]

Core Viewpoint - Hangzhou Tianmu Mountain Pharmaceutical Co., Ltd. (Tianmu Pharmaceutical) has successfully ended its "ST" status after being delisted from risk warnings by the Shanghai Stock Exchange, marking a significant turnaround in its performance following the acquisition by Qingdao Laoshang State-owned Assets [1][3] Company Overview - Tianmu Pharmaceutical, established in 1958 and listed in 1993, has faced numerous challenges over its 30-year history, including governance issues and financial losses, leading to its stock being under risk warnings since June 2020 [2][3] - The company was acquired by Qingdao Huilong Huaze Investment Co., Ltd. in August 2023, which became the new controlling shareholder, providing a much-needed capital infusion of over 1.1 billion yuan for a 29.99% stake [3][4] Financial Performance - Following the acquisition, Tianmu Pharmaceutical's revenue is projected to grow by 78.44% to 217 million yuan in 2024, with a net profit turnaround to 15.25 million yuan [4] - In the first quarter of the current year, the company reported an 88.55% increase in revenue, surpassing 5 million yuan in net profit [4] Strategic Initiatives - The new management has implemented several measures, including waiving 90 million yuan in debt and providing over 100 million yuan in bank credit guarantees, which have positively impacted the company's operations [4] - Tianmu Pharmaceutical is pursuing a dual-center strategy, consolidating its traditional business in Hangzhou while establishing a northern sales center in Qingdao to expand into the Shandong and North China markets [4] Industry Context - The revitalization of Tianmu Pharmaceutical is seen as beneficial for the pharmaceutical and health industry in Laoshang District, which aims to leverage the company's brand to stimulate broader industry growth [5] - The company is actively exploring new avenues in the health industry, transitioning towards a "Chinese medicine + health" model and aiming for an integrated approach in research, production, and sales [5]

1 | -1-10 | 言 | | --- | --- | | 黑体加粗 | 回询函所列问题 | | 宋体 | 对问询函所列问题的回复 | | 楷体加粗 | 涉及对招股说明书修改的内容 | 2 3 | 序 | 客户/供应商 | 客户 | 交易 | | | 交易金额(万元) | | | --- | --- | --- | --- | --- | --- | --- | --- | | 号 | 名称" | 类型 | 类型 | 具体内容 | 2022年度 | 2021 年度 | 2020 年度 | | 1 | 上海口隆香料 | 贸易商 | 销售 | 凉味剂 WS-3、 WS-12、代加 | 581.73 | 895.12 | 1.898.57 | | | 有限公司 | | | 工收入等 | | | | | | | | 采购 | 薄荷脑等 | 43.08 | 368.66 | 1,258.52 | | 2 | 上海龙师香精 香料有限公司 | | 销售 | 原味剂 WS-3, | 74.27 | 124.88 | 59.25 | | | | 贸易商 | | WS-23 等 | | | | | | | | 采购 | 2. ...