中经记者 晏国文 卢志坤 北京报道 12月10日，由《中国经营报》主办的"大重构·大机遇"2025中国医药大健康产业论坛在北京隆重召开。 "我国正处于推动高质量发展的关键时期，人们对高水平健康的追求趋势不会改变。目前，我国60岁及 以上的老年人口占比已经超过20%，中国正进入银发经济时代。随着人们对中药的功效越来越接受和认 可，未来，大健康产业发展潜力巨大。"在本次论坛的内需新能动圆桌对话中，寿仙谷（603896.SH）董 秘刘国芳表示。 快速破圈 寿仙谷以"打造有机国药第一品牌""打造世界灵芝领导品牌"为战略目标，主要产品为第三代去壁灵芝孢 子粉系列产品、铁皮石斛系列产品等。 一直以来，寿仙谷秉持"重德觅上药、诚善济世人"的祖训，把产品质量视为重中之重。凭借产品实实在 在的功效和切实可靠的安全性，寿仙谷获得了众多消费者的喜爱和信赖。 刘国芳介绍，寿仙谷具有很强的产品力和研发能力，现在需要品牌和营销的快速破圈。为此，寿仙谷主 要在三方面发力：浙江省外市场的扩张、向快消品破圈、数字化赋能。 "截至目前，我们在浙江省外销售的占比不到10%。所以，我们的扩张需要'两条腿走路'。一方面，学习 片仔癀、贵州茅台等经销商 ...

Core Viewpoint - The company has established a joint venture with former Wahaha sales general manager Shen Jiangang to expand into the fast-moving consumer goods market, leveraging its research capabilities and professional marketing team [1]. Group 1: Business Development - The joint venture, named Hangzhou Shouxian Valley Food Co., Ltd., is controlled by the company and aims to develop new products such as Ganoderma coffee and traditional Chinese herbal teas to attract younger consumers [1]. - Recent product launches include Iron Skin Dendrobium pomelo juice and Iron Skin Dendrobium congee, indicating a focus on diversifying product offerings [1]. Group 2: Strategic Initiatives - The company is committed to expanding its upstream and downstream industry presence and is actively seeking suitable acquisition targets [1]. - There is a suggestion from investors for the company to establish a beverage division with a professional team and distribution system to enhance its commitment to the beverage market [3].

Core Viewpoint - The company has established a joint venture with former Wahaha sales general manager Shen Jiangang to expand into the fast-moving consumer goods market, leveraging its research capabilities and professional marketing team [1] Group 1: Joint Venture and Product Development - The joint venture, named Hangzhou Shouxian Valley Food Co., Ltd., is controlled by the company and aims to develop new products [1] - Recent product launches include Iron Skin Dendrobium Pomelo Juice and Iron Skin Dendrobium Shouxian Porridge, with plans to introduce additional products such as Ganoderma Coffee and traditional Chinese herbal teas [1] Group 2: Target Market and Strategy - The company is focusing on appealing to younger consumers by expanding its product offerings to cover young consumption scenarios [1] - In addition to developing new products, the company is actively seeking suitable acquisition targets to extend its upstream and downstream industry reach [1]

Core Viewpoint - Zhejiang Shouxiangu Pharmaceutical Co., Ltd. reported a revenue increase of 8.51% year-on-year for Q3 2025, demonstrating resilience in a challenging consumer market [1][2] Financial Performance - The company achieved a revenue of 130 million yuan in Q3 2025, with a net cash flow from operating activities of 20.94 million yuan, reflecting a 51.24% increase year-on-year [1] - Net profit attributable to shareholders decreased due to increased R&D investments [1] Business Strategy - The company is focusing on "marketing-driven enterprise" strategies, enhancing marketing channels, brand building, and digital marketing innovations [2] - Shouxiangu is expanding its market presence through a dual-channel approach, combining specialty store systems with traditional pharmacy channels [1][2] Product Development - The company has optimized its product matrix, launching new products such as Shouxiangu Blue and Shouxiangu Red, which cater to modern consumer trends [1][2] - Shouxiangu has established a multi-category matrix for health food products, including new beverages and solid drinks, positioning this segment as a key growth area [2] R&D Investment - R&D expenses reached 42.09 million yuan in the first three quarters, marking a 32.32% increase year-on-year, supporting the development of innovative products [3] - The company has initiated 92 research projects, including 56 collaborative projects with academic institutions, enhancing its competitive edge in the market [3] Industry Outlook - The market for health food products, particularly those derived from traditional Chinese medicine, is expected to grow due to rising health awareness and the emergence of younger consumer demographics [2][3]

Core Insights - Traditional Chinese medicine company Shouxiangu (603896) is diversifying into fast-moving consumer goods (FMCG) due to performance challenges, hiring former Wahaha sales manager Shen Jiangang to oversee operations [1][2] - The company has established a multi-category matrix for food and medicine integration, launching products like Dendrobium juice and Shouxiangu porridge, with all FMCG operations managed by its subsidiary [1][2] Financial Performance - Since its listing in May 2017, Shouxiangu's revenue grew continuously for six years, peaking at 829 million yuan in 2022, but saw a 5.39% decline in 2023 to 784 million yuan, with a further 11.81% drop projected for 2024 [2] - The company's net profit followed a similar trend, experiencing an 8.39% decline in 2023 and a projected 31.34% drop in 2024 [2] Recent Quarterly Results - In the first half of 2023, Shouxiangu reported total revenue of 300 million yuan, down 16.51% year-on-year, and a net profit of approximately 65.56 million yuan, down 33.99% [5] - The second quarter showed improvement with revenue of 129 million yuan, a decline of 6.64%, compared to a 22.68% drop in the first quarter, with July showing positive growth [5] Product Performance - In the first half of 2023, revenue from Ganoderma lucidum spore products was 216 million yuan, accounting for 73.11% of total revenue, down 17.79% year-on-year [5] - Revenue from Dendrobium products was 46.66 million yuan, representing 15.83% of total revenue, down 24.25% [6] Strategic Direction - Shouxiangu aims to maintain its focus on high-end products like third-generation broken-wall Ganoderma lucidum spore powder while considering a mix of high, medium, and low-tier products for different channels [7] - The company acknowledges the current market challenges and emphasizes the importance of effectively reaching consumers to capitalize on untapped market potential [8]