公告显示，2025年，公司正式成为华润三九（000999）旗下一员，以创新驱动开启融合发展新篇章，顺 利完成与华润三九的"百日融合"并稳步推动"首年融合"各项工作，在业务稳定、团队稳定、客户稳定基 础上，以"四个重塑"为指引，加快与华润三九的资源整合。面对医药行业集采控费等政策因素影响，公 司持续聚焦心血管及代谢、神经/精神、消化三大治疗领域，积极推进核心业务，全面提升企业效益、 效率和竞争力，坚持创新驱动，实现高质量发展，向"成为中国医药市场的领先企业"的目标稳步迈进。 (王珞) 天士力（600535）近日发布2025年度业绩快报，公司2025年实现归属于上市公司股东的净利润11.05亿 元，同比增长15.68%；公司基本每股收益0.74元，同比增长15.63%。 ...

提高投资者回报 研发管线潜在价值凸显 根据公司业绩快报，公司全年实现基本每股收益0.74元，同比增长15.63%，实现企业对投资者回报的提 高。 本报讯 （记者袁传玺）天士力2025年加入华润体系后首年融合业绩超出市场预期。2月6日晚间，天士 力发布的2025年业绩快报显示，公司2025年实现营业总收入82.36亿元；实现归属于上市公司股东的净 利润11.05亿元，同比增加15.68%。 融入华润体系推动提质增效 据悉，天士力作为华润三九"一体两翼"战略中的"一翼"，核心定位为"创新驱动"。天士力正全面推进与 华润三九的首年融合工作，从"价值重塑"、"业务重塑"、"组织重塑"和"精神重塑"四个维度系统化升级 管理体系，实现强强联合的战略协同。 公司在融入华润体系的同时，进行组织和运营管理等各个方面的优化，逐步提升公司经营资产的质量。 申万宏源证券的研报指出，华润三九将借助其在管理、渠道、产业方面的资源，为公司进一步赋能，促 进协同效应，提升天士力的竞争优势。在运营管理方面，公司积极落实华润管理理念，加强财务、人力 资源、EHSQ及大监督体系的融合，开展"焕新增效"等系列组织优化活动，优化运营管控模式，提升管 ...

Group 1 - The company, Tianjin Tasly Pharmaceutical Co., Ltd., has signed a termination agreement with Arbor Pharmaceuticals, LLC, due to Arbor's acquisition by Azurity Pharmaceuticals, Inc. The termination was mutually agreed upon after discussions between both parties [2][4]. - The company received a total of $7.5 million as part of the termination agreement, which includes milestone payments and commercialization royalties related to the T89 product in the U.S. market [2][6]. - The termination of the agreement will not have a significant impact on the company's project advancement, production operations, or financial status. The company will continue to manage the termination-related matters appropriately [6]. Group 2 - In 2025, the company officially became part of China Resources Sanjiu, completing a "100-day integration" and steadily promoting the "first-year integration" efforts. The focus remains on stabilizing business, teams, and clients while enhancing efficiency and competitiveness [8]. - The company reported a total revenue of 8.236 billion yuan for 2025, a decrease of 3.08% year-on-year, while the net profit attributable to shareholders increased by 15.68% to 1.105 billion yuan. The decline in revenue is primarily attributed to a 14.24% decrease in pharmaceutical commercial income due to industry policy impacts [8].

Core Viewpoint - Tianjin Tasly Pharmaceutical Group Co., Ltd. reported a mixed performance for the year 2025, with a decline in total revenue but an increase in net profit, highlighting the impact of industry policies on its business operations [1][3]. Financial Performance Summary - Total revenue for 2025 was 8.236 billion yuan, a decrease of 3.08% compared to the previous year [2]. - Net profit attributable to shareholders was 1.105 billion yuan, an increase of 15.68% year-on-year [2]. - Non-recurring net profit attributable to shareholders was 787 million yuan, down 24.06% year-on-year [2]. - Basic earnings per share increased to 0.74 yuan, up 15.63% from 0.64 yuan [2]. - The weighted average return on equity rose to 9.07%, an increase of 1.39 percentage points [2]. Asset and Equity Summary - Total assets at the end of 2025 were 153.42 billion yuan, a 2.44% increase from the beginning of the year [2]. - Shareholders' equity attributable to the listed company was 124.02 billion yuan, up 4.19% [2]. - The net asset per share attributable to shareholders increased to 8.30 yuan, a rise of 4.14% [2]. Business Segment Insights - The decline in revenue was primarily attributed to a 14.24% decrease in pharmaceutical commercial income, particularly from chain pharmacy operations, due to industry policies such as "outpatient overall planning" [3]. - The pharmaceutical commercial segment reported a significant revenue drop of 16.70% in the first three quarters of 2025 compared to the same period in 2024 [4]. Control Change and Market Performance - In 2025, the control of the company changed significantly, with China Resources Sanjiu directly holding 28% of the shares, marking a shift in the controlling shareholder from Tasly Group to China Resources Limited [5]. - As of February 6, 2025, the company's stock price was 15.09 yuan per share, with a total market capitalization of 22.544 billion yuan [5].

Core Viewpoint - China Resources Pharmaceutical (03320) reported preliminary unaudited financial data for Tianjin Tasly Pharmaceutical (600535) for the year ending December 31, 2025, indicating a decline in total operating revenue while showing an increase in net profit attributable to shareholders [1] Financial Performance - Total operating revenue for Tianjin Tasly Pharmaceutical reached RMB 8.236 billion, representing a year-on-year decrease of 3.08% [1] - Net profit attributable to shareholders amounted to RMB 1.105 billion, reflecting a year-on-year increase of 15.68% [1] Revenue Breakdown - The decline in operating revenue is primarily attributed to a 14.24% decrease in pharmaceutical commercial revenue, mainly from the chain pharmacy business, influenced by industry policies such as "outpatient overall planning" [1]

智通财经APP讯，华润医药(03320)发布天士力医药截至2025年12月31日止年度的未经审核初步财务资 料，天士力医药实现总营业收入人民币82.36亿元，同比下降3.08%，实现归属于上市公司股东的净利润 人民币11.05亿元，同比增长15.68%。从变动幅度上看，公司营业收入同比下降的主要原因是医药商业 收入(主要为连锁药店业务)受"门诊统筹"等行业性政策的影响同比减少14.24%。 ...

北京商报讯（记者 丁宁）2月6日晚间，天士力（600535）发布2025年度业绩快报显示，公司2025年实 现营业收入82.36亿元，同比下降3.08%；归属净利润11.05亿元，同比增长15.68%。 天士力表示，从变动幅度上看，公司营业收入同比下降的主要原因是医药商业收入（主要为连锁药店业 务）受"门诊统筹"等行业性政策的影响同比减少14.24%。 ...

Group 1 - The company announced a projected operating revenue of 8.236 billion yuan for 2025, representing a year-on-year decrease of 3.08% [2] - The net profit attributable to shareholders of the listed company is expected to be 1.105 billion yuan, reflecting a year-on-year increase of 15.68% [2]

每经AI快讯，天士力2月6日晚间发布2025年度业绩快报，营业收入约82.36亿元，同比减少3.08%；归属 于上市公司股东的净利润约11.05亿元，同比增加15.68%；基本每股收益0.74元，同比增加15.63%。 每经头条（nbdtoutiao）——目标是囤700吨黄金！连续两年增持黄金最多的央行宣布：再买150吨 每日经济新闻 （记者 胡玲） 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。 ...

Group 1: Industry Overview - The Chinese traditional medicine industry is experiencing a performance recovery, with several leading companies like Yiling and Jiangzhong releasing positive profit growth signals due to marketing reforms, product structure optimization, and cost improvements [1] - Policies such as "Opinions on Improving the Quality of Traditional Chinese Medicine" are creating market opportunities for compliant enterprises, while demographic trends like aging population and the consumption upgrade from Generation Z are driving demand [1] - The population aged 78 and above in China is projected to increase from 32-33 million to 360 million in 25 years, indicating a strong and sustained demand for conservative treatments for chronic diseases [1] Group 2: Company Performance - Tianshili's forecast for 2025 indicates a net profit of 1.105 billion yuan, representing a year-on-year increase of 15.68% [1] - In the first three quarters, Tianshili's pharmaceutical industrial revenue reached 5.709 billion yuan, maintaining stability, with a net profit of 984 million yuan, reflecting a year-on-year growth of 16.88% [2] - The cardiovascular/metabolism segment generated 3.186 billion yuan in revenue during the same period, showing a slight year-on-year growth of 1.16% [2] Group 3: Innovation and Strategic Development - After becoming a member of China Resources Sanjiu, Tianshili has successfully completed a hundred-day integration process, focusing on value, business, organizational, and spiritual restructuring [3] - Tianshili is positioned as the "innovation-driven" wing of the "one body, two wings" strategy, with 31 innovative drugs currently in the research pipeline, including nearly 20 products in late-stage clinical trials [3] - Analysts believe Tianshili's focus on three core disease areas and its rich R&D pipeline present opportunities for value reassessment, with expectations for stable growth in its main business as new products are approved and launched [3]