杭州天目山药业股份有限公司2025 年半年度报告 公司代码：600671 公司简称：天目药业 杭州天目山药业股份有限公司 杭州天目山药业股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确 性、完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人刘加勇、主管会计工作负责人冷亮及会计机构负责人（会计主管人员）王一惠 声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 不适用 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请 投资者注意投资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 公司已在本报告中详细描述公司可 ...

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. ...