公司新闻方面，华森制药29日发布公告，收到新加坡卫生科学局核准签发的中成药注册批文，批准公司重点中成药痛泻宁颗粒在新加坡上市销 售。痛泻宁颗粒是华森制药继甘桔冰梅片、六味安神胶囊、都梁软胶囊后第四个成功实现海外注册的产品。 今日（5.30）A股集体回调，中药ETF（560080）逆市涨近1%，盘中价创今年1月8日以来新高。热门成分股飘红，华森制药四连板，红日药 业、方盛制药涨超4%，陇神戎发涨超2%，云南白药、上海凯宝微涨。 （来源：华福证券20250528《中药板块24年年报及25Q1季报总结：压力出清，低估低配，拐点将至》） 痛泻宁颗粒源于经典名方，为全球首个治疗IBS-D的天然植物药。该药物具有"疏肝理脾，痛泻并除"的功效，能够通过多环节和多靶点对IBS进 行治疗，且疗效显著、安全性高，并能有效预防复发。 【机构：压力出清，拐点将至】 华福证券表示，中药板块一季度高基数压力出清，当前明确低估低配，2025年二至三季度预计将逐季改善。去年下半年院内集采+同价比价持续 下杀，中药品种大部分受同价政策的实质性影响有限，终端需求并未有太大减少，2025年以来又被科技AI及创新持续吸引，估值及配置均调整 至低位。 ...

Group 1 - The A-share market indices collectively rose, with the Traditional Chinese Medicine (TCM) ETF (560080) increasing by 1.05%, and several key stocks in the sector, such as Zhongsheng Pharmaceutical and Zhaoli Pharmaceutical, rising over 3% [1] - The recent increase in COVID-19 infection rates has been noted, but experts believe the current wave is manageable and not a cause for panic, with symptoms similar to previous infections [3] - The pharmaceutical and biotechnology sector performed well last week, with the TCM sector leading the sub-sectors in growth, as reported by Donghai Securities [3] Group 2 - The first quarter of 2025 posed challenges for TCM companies, but a potential turning point is expected in the second quarter, driven by factors such as decreased flu incidence and reduced inventory levels [6] - Among TCM companies, nearly half achieved positive growth in net profit, with notable companies like Jiaying Pharmaceutical and Te Yi Pharmaceutical showing significant revenue and profit increases [7] - The inventory levels of TCM companies have decreased, indicating a potential for improved profitability moving forward [7] Group 3 - Institutional holdings in TCM have been declining, with the proportion falling to 0.46% by the first quarter of 2025, suggesting a potential for renewed interest from funds in domestic TCM under current U.S. tariff policies [8] - The current price-to-earnings ratio of the TCM index is 25.7, which is below the 10-year average, indicating that valuations are relatively low [8] Group 4 - Key indicators for TCM include flu data and the price index of medicinal materials, with expectations of reduced revenue growth pressure for TCM companies starting in the second quarter of 2025 [10] - The price index for medicinal materials has been declining, which is expected to alleviate gross margin pressures for TCM companies [10] Group 5 - Investment strategies favoring strong brand power in state-owned enterprises are recommended, as these companies benefit from reforms and have higher dividend yields [12] - A recommended investment portfolio includes TCM companies with improving gross margins and those benefiting from state-owned enterprise reforms [14]

今日（5.8）A股主要指数飘红，中药ETF（560080）收涨0.19%，全天成交额超2600万元交投活跃，近5日净流入超1400万元。 中药ETF（560080）标的指数成分股多数飘红：众生药业涨超4%，东阿阿胶、华润三九、广誉远、昆药集团、同仁堂、天士力微涨。下跌方面，葫芦娃 跌超4%，云南白药、片仔癀、太极集团微跌。 时间拉长，年初以来，中药板块处于窄幅箱体震荡区间，在经历2023年中旬之后的持续震荡回调后，中药板块性价比如何，一季度整体业绩怎么看？ | 证券简称 | 营业收入(亿元) | 营业收入同比(%) | 归母净利润(亿元) | 归母净利润同比(%) | | --- | --- | --- | --- | --- | | 吉林敖东 | 6.2 | -27.7 | 5.2 | 259.8 | | 室应制药 | 1.2 | 28.8 | 0.2 | 197.2 | | 步长制药 | 27.8 | રેં રે | 3.1 | 169.5 | | 众生药业 | 6.3 | -1.1 | 0.8 | 61.1 | | 广誉远 | 4.2 | 21.5 | 0.6 | 53.9 | | 佐力药业 | 8. ...