在青藏高原绵延的雪山与河谷之间，生长着千百年来被藏医学奉为瑰宝的天然药材。一家起源于西藏、 深耕传统藏药30年的企业——奇正藏药，正以其守正创新的理念，在现代化与国际化浪潮中稳步前行。 作为A股唯一一家主营藏药的上市公司，奇正藏药不仅凭借核心产品"消痛贴膏"深入人心，更在呼吸、 神经、妇科等疾病领域布局第二增长曲线，展现出强劲的创新动能与战略远见。 公司董事长刘凯列日前在接受上海证券报记者专访时表示："传统医学与现代医学对话的基础，是共同 的目标——治病救人。我们正是围绕这一目标，推进藏医药的系统化开发与全球推广。" 根植藏医智慧构建融合创新体系 藏医药学是中国传统医学的重要分支，起源于青藏高原，融合苯教医学、中医、印度阿育吠陀和波斯医 学精华，以"三因学说"（隆、赤巴、培根）为理论核心，强调人体能量与自然节律的整体平衡。 "藏医对于人体的生命理解是基于三因体系：隆代表动能，赤巴代表热能，培根代表物质基础。这三种 能量与昼夜节律密切相关，平衡即健康，失衡则生病。"刘凯列表示，这一系统性理念为现代慢性病、 复杂病及老年病管理提供了全新视角，也成为奇正藏药产品研发与临床应用的根基。 在推动藏西医结合方面，公司已开 ...

西藏奇正藏药股份有限公司 投资者关系活动记录表 证券代码：002287 证券简称：奇正藏药 债券代码：128133 债券简称：奇正转债 | 10、问：请问公司的创新药是什么药？ | | --- | | 答：您好，公司小儿热立清颗粒属于中药分类一类创新 | | 药，已于今年获得中药 1.1 类新药临床批准通知书。谢 | | 谢。 | | 11、问：公司推出的持股计划仅以营业收入增长作为考 | | 核指标，未设置利润考核门槛，这是否会导致激励与经 | | 营质量脱节？今年的收入目标能达到吗？ | | 答：您好，公司推出的员工持股计划是既考虑了营业收 | | 入的增长、又考虑到公司净利润增长要求。通过员工持 | | 股计划和长期激励基金提取的有机结合，兼顾经营规模 | | 和经营质量。公司员工持股计划的考核围绕营业收入指 | | 标，是配合本战略周期的核心策略而制定，营业收入是 | | 衡量公司经营状况和市场占有能力、预测公司经营业务 | | 拓展趋势的重要财务指标，能够直观反映公司的成长能 | | 力和行业竞争力，具体考核的设定需要考虑行业发展及 | | 市场竞争情况、公司经营状况及发展规划等相关因素， | | ...

财务报表中对有大幅变动的财务项目的原因说明如下：应收款项变动幅度为408.33%,原因:根据信用政 策，账期未到回收期。经营活动产生的现金流量净额变动幅度为993.71%,原因:公司银行承兑汇票贴现 同比增加。投资活动产生的现金流量净额变动幅度为-188.2%,原因:赎回理财产品减少。筹资活动产生的 现金流量净额变动幅度为-183.88%,原因:偿还贷款支付的现金增加以及支付特别分红款。现金及现金等 价物净增加额变动幅度为-76.42%,原因:筹资、投资活动产生的现金流量净额减少。信用减值损失变动幅 度为96.19%,原因:按照会计制度计提的减值损失减少。资产减值损失变动幅度为971.48%,原因:计提的存 货跌价准备转回。投资收益变动幅度为-178.88%,原因:公司赎回理财产品减少,进而确认收益减少；同时 票据贴现增加，支付贴现息增加。营业外收入变动幅度为-48.25%,原因:债权人原因无法偿付的应付款项 减少。营业外支出变动幅度为1062.16%,原因:公司捐赠及罚款支出增加。 证券之星价投圈财报分析工具显示：业务评价：公司去年的ROIC为11.42%，资本回报率一般。去年的 净利率为24.87%，算上 ...

中报显示，公司在核心能力建设上多点突破：营销体系及渠道效能持续优化，深化藏药现代化，探索理 论转化路径，开展高质量循证医学研究，支撑临床价值验证与推广；智能制造体系建设按计划稳步推 进；资源保障体系、数字化共享平台建设及组织激活等重点工作有序开展，为公司高质量发展筑基。 奇正藏药（002287）披露中报显示，公司经营业绩稳步增长：上半年公司实现营业收入11.75亿元，同 比增长16.36%；实现营业利润4.19亿元，同比增长14.42%；实现归属于上市公司股东的净利润3.58亿 元，同比增长10.04%；实现归属于上市公司股东的扣除非经常性损益的净利润2.89亿元，较上年同期增 长27.36%；公司中报拟向全体股东每10股派发现金红利2.20元(含税)。 上半年，公司在"双轮驱动、双翼领先、双基保障"战略指引下，多产品全域营销成效显著：骨骼肌肉系 统核心产品消痛贴膏市场份额持续巩固，白脉软膏、如意珍宝片、青鹏软膏等产品贡献了新的增长点， 妇科产品红花如意丸增长较快。 在公司治理层面，奇正藏药以长期价值创造、规范治理与职业化运作为核心，打造价值引领型的董事 会。董事会锚定"百亿藏药"战略目标，以可持续发展理念为 ...

Group 1: Company Overview - Xizang Qizheng Tibetan Medicine Co., Ltd. is a leading enterprise in the Tibetan medicine sector, focusing on the research, production, and sales of innovative Tibetan medicines, with 25 exclusive varieties and 141 drug approval numbers covering various medical fields [2][3]. - Tibetan medicine has a history of over 3,800 years, integrating elements from Indian, Arabic, Chinese, and Bon medicine, and is recognized for its comprehensive medical system and unique treatment methods [3][4]. Group 2: Product and Market Strategy - The company emphasizes patient care by providing a diverse product line, including 60 OTC varieties and 3 state-secret technology products, targeting multiple therapeutic areas such as orthopedics, neurology, and pediatrics [3][4]. - The market for external pain relief patches is expected to grow significantly due to aging populations and the increasing prevalence of chronic diseases, with the company confident in expanding its main product, the pain relief patch [5][6]. Group 3: Innovation and Development - The company is committed to modernizing Tibetan medicine through technological innovation, including the establishment of an intelligent manufacturing system and the integration of traditional medicine with modern technology [4][5]. - As of the end of 2024, the company holds 141 drug approval numbers and 156 patent technologies, including 129 invention patents, showcasing its commitment to research and development [4][5]. Group 4: Marketing and Sales Strategy - The company is enhancing its marketing capabilities across various channels, including hospitals, retail, and e-commerce, to strengthen its brand presence and expand market reach [6][7]. - A focus on academic and brand marketing is aimed at increasing the influence of the "Qizheng" brand and achieving comprehensive growth across all product lines [6][7]. Group 5: Future Development Goals - The company's mission is to promote health wisdom and create life value, with strategic goals to become the leader in external pain relief and the Tibetan medicine market [5][6]. - The employee stock ownership plan is designed to align with revenue growth and net profit targets, reflecting the company's commitment to sustainable development [6][7].

Group 1: Financial Performance - In 2024, the company achieved a net profit of 425.81 million yuan, an increase of 15.09% compared to the previous year [4] - Revenue growth in Q1 2025 was 10.39%, but net profit decreased by 22.35% due to a decline in non-recurring gains [4] - The total cash dividend for 2024 is expected to be 318 million yuan, accounting for 54.66% of the net profit attributable to shareholders [6] Group 2: Product and Market Strategy - In 2024, revenue from patch products reached 1.65 billion yuan, accounting for over 70% of total revenue [2] - The company plans to expand its product matrix by developing new products in the external pain relief market, including ointments with a sales scale of 311 million yuan [2] - The company is focusing on digital marketing and channel optimization to enhance brand presence and reach target customers [3] Group 3: Research and Development - R&D expenses are only 1/16 of sales expenses, prompting the need for increased investment in innovation to enhance long-term competitiveness [3] - The company is pursuing a "modernization of Tibetan medicine" strategy, focusing on unmet clinical needs and leveraging traditional Tibetan medicine [3] - Collaboration with domestic and international research institutions is ongoing to explore new technologies and improve product development efficiency [3] Group 4: Marketing and Sales Channels - The company emphasizes precision marketing and indirect sales to reduce customer acquisition costs and improve marketing efficiency [3] - Digital channels are identified as the fastest-growing and most efficient segment, positively impacting revenue and gross margin [4] - The company is enhancing its brand through sponsorships and social media campaigns targeting basketball enthusiasts [5] Group 5: Industry Outlook - The Chinese medicine industry is expected to grow due to government support and increasing health awareness among the aging population [7] - The market for external patches is anticipated to expand, driven by rising demand for traditional medicine [7] - Companies with strong R&D capabilities and brand barriers are likely to lead the market in the future [7]