Summary of Kang En Bei's Conference Call Company Overview - **Company**: Kang En Bei - **Industry**: Pharmaceutical Key Financial Metrics - **Revenue**: 4.976 billion CNY in the first three quarters of 2025, a year-on-year increase of 1.72% [2][3] - **Total Profit**: 697 million CNY, up 7.57% year-on-year [2][3] - **Net Profit**: Increased by 12.65%, with a non-recurring net profit growth of 1.6% [2][3] - **Contribution from Jiahe Bio**: 79 million CNY in floating profit, compared to 25.87 million CNY in the same period last year, significantly impacting profit growth [2][3] Product Performance - **Chronic Diarrhea Series**: Over 25% year-on-year growth, attributed to capturing market opportunities from Norovirus, strengthening partnerships with chain pharmacies, stabilizing prices, and enhancing visibility [2][7] - **Jin Di Series**: Declined by 11.6% due to high base effects and a mild flu season [2][6] - **Jin Kang Su Li**: Experienced a 66% decline due to losing bids in centralized procurement [2][6] - **Respiratory Medications**: Some products also saw a decline [2][6] Strategic Goals - **2030 Revenue Target**: 11 billion CNY, with 2 billion CNY from external acquisitions and 9 billion CNY from organic growth [2][8] - **Net Profit Target**: 1 billion CNY, with 200 million CNY from acquisitions and 800 million CNY from organic growth [2][8] - **Management Reforms**: Streamlining management departments from 16 to 11, merging health and sales companies, optimizing distributor structures, and introducing a new executive team to enhance operational quality [2][10] Future Plans - **2026 Revenue Target**: 6.8 billion CNY, with plans to develop multiple brands achieving revenue scales of 500 million to 1 billion CNY [2][11] - **Core Strategy**: Entering the essential drug directory, focusing on products like Execution Dan, Jin Ai Kang, and Long Jin Tong Ling, with expected sales growth rates of over 10% [2][12][13] Challenges and Market Dynamics - **Challenges**: Facing pressure from centralized procurement leading to price reductions, and competition in the pharmaceutical industry [2][6][16] - **Market Opportunities**: Aging population creating unmet medical needs, and the clinical value of traditional Chinese medicine being validated through evidence-based medicine [2][16] R&D and M&A Strategy - **R&D Investment**: Maintaining a 4% investment in R&D, viewing the R&D team as a cost center to foster innovation [2][17] - **M&A Goals**: Aiming for 2 billion CNY in acquisitions by 2030, with ongoing discussions for multiple targets, including overseas projects [2][17] Conclusion - **Overall Performance**: Despite challenges, Kang En Bei has shown resilience with positive growth metrics and a clear strategic direction towards 2030 [2][19] - **Investor Focus**: The company encourages investors to monitor its growth trajectory and strategic initiatives [2][19]

证券日报网讯 1月28日，康恩贝在互动平台回答投资者提问时表示，2024年，出口业务约占公司总收入 的8%，主要出口国为印度及中东国家。欧盟业务收入占公司整体收入比例较小，销售方式以直接向欧 盟客户出口和通过第三方贸易商、代理商转销两种方式为主。 （文章来源：证券日报） ...

（编辑 姚尧） 证券日报网讯 1月28日，康恩贝在互动平台回答投资者提问时表示，企业"反内卷"的本质在于持续构建 难以替代的核心竞争力。为此，公司系统规划并着力打造四大核心能力：健康领域全链条品牌塑造能 力、前瞻性研发与管线布局能力、全渠道专业合规推广能力、稳定高效供应链能力，以此筑牢发展根基 与竞争壁垒，驱动经济效益与企业价值同步提升。在拓宽营收渠道方面，公司坚持内涵式增长与外延式 扩张双轮驱动。在内涵式增长方面，公司将巩固优势品种品牌如肠炎宁、前列康、至心砃等的领导地 位；挖掘潜力品种如金笛、牛黄上清胶囊、金艾康等系列产品增长机会；洞察市场机会并完善研发布 局，巩固中药大健康的优势并积极布局创新药，寻找新的增长点。在外延式扩张方面，一方面围绕中药 大健康的股权并购，另一方面公司将通过系统化BD快速获取潜力品种，丰富管线。 ...

证券日报网讯1月28日，康恩贝（600572）在互动平台回答投资者提问时表示，截至2026年1月20日，公 司股东总户数为81016户。 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示： ■ 一、信息披露义务人及其一致行动人的基本信息 （一）身份类别 ■ （三）一致行动人信息 ■ （二）信息披露义务人信息 ■ 说明：根据中国证监会《上市公司收购管理办法》有关规定，因胡季强先生为康恩贝集团有限公司（以 下简称"康恩贝集团"）的实际控制人，两者系一致行动人。 二、权益变动触及1%刻度的基本情况 （一）前次权益变动触及1%刻度情况 2026年1月16日，康恩贝集团通过大宗交易的方式向公司控股股东浙江省医药健康产业集团有限公司转 让其所持有的浙江康恩贝制药股份有限公司（以下简称"公司""本公司"）股份50,659,020股，导致公司 持股5%以上股东及其一致行动人胡季强先生、康恩贝集团合计持有本公司股份数量由316,358,576股减 少至265,699,566股，占公司当时总股本的比例由12.484%减少至10.481%，权益变动比例触及1%刻度， 具体内容详见公司于2026年1月17日披露的2026-0 ...

格隆汇1月26日丨康恩贝(600572.SH)公布，2026年1月26日，公司收到股东胡季强先生出具的《告知 函》，胡季强先生因发展其控制的企业业务资金需求，于2026年1月20日至1月26日期间，通过上海证券 交易所以集中竞价交易方式合计减持本公司股份1933.55万股，减持均价4.614元/股，减持比例占公司现 总股本2,535,311,641股（按2026年1月23日股本计，下同）的0.763%，导致胡季强先生及康恩贝集团合 计持有公司股份数量由265,699,556股减少至246,364,056股，占公司现总股本的比例由10.480%减少至 9.717%，权益变动比例触及1%刻度。 ...

格隆汇1月26日丨康恩贝(600572.SH)公布，2026年1月26日，公司收到股东胡季强先生出具的《告知 函》，胡季强先生因发展其控制的企业业务资金需求，于2026年1月20日至1月26日期间，通过上海证券 交易所以集中竞价交易方式合计减持本公司股份1933.55万股，减持均价4.614元/股，减持比例占公司现 总股本2,535,311,641股（按2026年1月23日股本计，下同）的0.763%，导致胡季强先生及康恩贝集团合 计持有公司股份数量由265,699,556股减少至246,364,056股，占公司现总股本的比例由10.480%减少至 9.717%，权益变动比例触及1%刻度。 ...

证券代码：600572 证券简称：康恩贝 公告编号：2026-008 | 权益变动方向 | 比例增加□ | | 比例减少☑ | | --- | --- | --- | --- | | 权益变动前合计比例 | 10.480% | | | | 权益变动后合计比例 | 9.717% | | | | 本次变动是否违反已作出的承诺、意 向、计划 | 是□ | 否☑ | | | 是否触发强制要约收购义务 | 是□ | 否☑ | | 一、信息披露义务人及其一致行动人的基本信息 浙江康恩贝制药股份有限公司 关于持股 5%以上股东权益变动触及 1%刻度的 提示性公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏， 并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： （一）身份类别 投资者及其一致行动人的身份 □控股股东/实际控制人及其一致行动人 ☑其他 5%以上大股东及其一致行动人 □合并口径第一大股东及其一致行动人（仅适用于无控股股 东、实际控制人） □其他______________（请注明） （二）信息披露义务人信息 | 信息披露义务人名称 | | 投资者身份 | 统一社会 ...

康恩贝公告称，2026年1月20日至1月26日，股东胡季强因资金需求通过集中竞价减持1933.55万股，减 持均价4.614元/股，减持比例0.763%。胡季强及其一致行动人康恩贝集团合计持股比例从10.480%降至 9.717%，权益变动触及1%刻度。此次变动不触及要约收购，不违反相关规定和承诺，不会对公司治理 和经营产生重大影响，也不会导致控股股东、实际控制人变化。 ...

Core Insights - The health-conscious consumer trend is driving demand for food products that offer health benefits, leading to increased interest in "food-medicine" products like goji berries, yam, and red dates [1][3][4] Industry Overview - The "food-medicine" concept is rooted in traditional Chinese medicine, emphasizing the dual role of certain foods as both nutrition and medicine [3] - The market for "food-medicine" products in China is projected to reach 56.78 billion yuan in 2024, with a year-on-year growth of 3% [1][6] Market Dynamics - The nutritional health food market in China is expected to grow to 678 billion yuan in 2024, reflecting a 7.3% increase year-on-year, providing a solid foundation for the "food-medicine" industry [6][7] - Sales of traditional ingredients like bird's nest and goji berries remain strong, while new ingredients like poria and astragalus are gaining traction, with astragalus seeing a 75.2% increase in sales [7][8] Competitive Landscape - The "food-medicine" industry features diverse competition from traditional pharmaceutical companies, food enterprises, new retail businesses, and internet health companies [9][10] - Major players include Tongrentang, Yunnan Baiyao, and Kang En Bei, which leverage their traditional medicine expertise to develop health-oriented food products [10][11] Development Trends - Future product development will focus on functional and scenario-specific offerings, catering to various consumer needs, such as liver health for night owls and digestive health for the elderly [12][15] - Cross-industry collaborations will become common, integrating "food-medicine" with baked goods, beverages, and other food categories to enhance flavor and health benefits [14][15] - Young consumers are emerging as a new growth segment, with increased interest in health products and innovative formats appealing to their preferences [15][16] - Stricter regulatory policies are expected to drive the industry towards higher quality standards, with ongoing support for traditional health culture and product innovation [16]