Core Viewpoint - Yunnan Baiyao Group Co., Ltd. held its first board meeting of 2026 on February 10, 2026, where several key resolutions were passed to enhance production capacity and organizational structure, as well as appoint new executives to support the company's strategic goals [1][3][5]. Group 1: Project Approvals - The board approved the construction of the second phase of the oral liquid project at Wenshan Company with a total investment budget of 137.36 million yuan to meet the growing market demand for products like Qihuo Liquid [1]. - The board also approved the 2026 organizational structure plan to strengthen the implementation of strategic planning and operational goals [3]. Group 2: Executive Appointments - The board appointed Dong Ming as the CEO, Qian Yinghui as the board secretary, and Li Mengjue as the securities affairs representative, with a term of three years [5]. - Additionally, the board appointed several senior management personnel, including Li Hongshen, Li Shengli, He Tao, and Chen Shi as senior vice presidents, and Ma Jia as the financial director [8]. Group 3: Personnel Changes - Li Jin will no longer serve as a senior management member due to reaching the legal retirement age, and the company expressed gratitude for his contributions during his tenure [10][11]. - The company also announced the hiring of Zhu Zhaoyun as the strategic scientist for traditional Chinese medicine and Zhang Ning as the chief scientist to enhance its modern research and development capabilities [21].

Core Insights - The news highlights significant corporate announcements and performance reports from various companies, indicating potential investment opportunities and market movements. Group 1: Corporate Announcements - Ge Weidong invested 1 billion yuan to subscribe for shares in Jianghuai Automobile's private placement, acquiring approximately 20.05 million shares at a price of 49.88 yuan per share, contributing to a total fundraising of about 3.5 billion yuan from eight investors [3][4] - *ST Cube completed its suspension review and will resume trading on February 11, 2026, after confirming no undisclosed significant matters related to the company [2] - Yunnan Baiyao plans to invest 137 million yuan in a second phase project for oral liquid production to meet growing market demand [11] Group 2: Performance Reports - Semiconductor manufacturer SMIC reported a 23.2% year-on-year increase in net profit for Q4 2025, reaching 1.223 billion yuan, driven by increased wafer sales and improved capacity utilization [5] - Special Biological Company reported a net profit of 1.038 billion yuan for 2025, reflecting a 25.39% increase year-on-year, attributed to stable sales of key products and new product approvals [6] - New Zobang achieved a net profit of 1.098 billion yuan in 2025, marking a 16.56% increase compared to the previous year [6] Group 3: Fundraising and Restructuring - New Han New Materials plans to raise up to 1 billion yuan through a private placement to fund projects related to high-performance resins and composite materials [8] - Chutian Long intends to raise up to 760 million yuan for the development of innovative safety products and digital operations [8] - Yi Yi Co. decided to terminate its plan to acquire 100% equity of a pet food company due to changes in the target company's operational conditions [8] Group 4: Major Contracts and Investments - Yunjiji Group signed an EPC contract worth 1.331 billion yuan for a cement production line and power station in Zimbabwe, representing 86.66% of the company's audited revenue for 2024 [9] - Solar Energy's subsidiary plans to acquire 100% of Jinhua Windling for 527 million yuan, enhancing its position in the solar power industry [9] - Yutong Technology intends to acquire 51% of Huayan Technology for 448.8 million yuan, which will become a subsidiary post-transaction [9]

Core Insights - The article emphasizes the importance of balancing speed and stability in business development, highlighting that companies must adapt quickly to market changes while also building a solid foundation for long-term success [1][3][5] Group 1: Market Dynamics - The rapid rise and fall of consumer brands due to a lack of deep value accumulation is noted, contrasting with traditional companies that may miss transformation opportunities due to slow responses [1] - The concept of "fast fish eating slow fish" is introduced, indicating that agility is crucial in the current market landscape [1] Group 2: Strategic Insights - The recent ranking of "Top Ten Marketing Planning Companies in Shanghai" illustrates that leading firms act as both market drivers and strategic calibrators for businesses [1] - Kaina Consulting's cross-border strategy exemplifies how brands can achieve explosive yet sustainable growth by maintaining strategic clarity during rapid development [1][4] Group 3: Case Study - Yunnan Baiyao - Kaina Consulting identified unmet consumer needs in the oral care market, leading to the differentiation of Yunnan Baiyao's toothpaste as a non-traditional product [3][4] - The collaboration between Kaina Consulting and Yunnan Baiyao over two decades showcases the successful integration of quick decision-making and long-term commitment to product quality and brand education [5] Group 4: Future Considerations - The article suggests that as technology reshapes marketing, companies must learn and adapt quickly while also valuing emotional connections and quality assurance that require time to develop [5] - Finding the strategic balance between speed and stability is essential for companies to navigate uncertainties and ensure sustainable growth [5]

Core Viewpoint - Yunnan Baiyao (000538.SZ) announced the construction of a second-phase project for oral liquid products to enhance production capacity and meet the growing market demand, aligning with the company's strategic goal of developing major product lines [1] Group 1 - The total investment budget for the new project is 137.36 million yuan [1] - The project aims to support the production of strategic large varieties within the group [1] - The initiative is part of the company's strategy to create a series of major single products [1]

Core Viewpoint - Yunnan Baiyao Group Co., Ltd. aims to enhance its modern R&D system and capabilities by integrating traditional Chinese medicine with modern technology, thereby injecting strategic momentum for sustainable long-term development [1] Group 1 - The company has appointed Zhu Zhaoyun as the Traditional Chinese Medicine Strategic Scientist and Zhang Ning as the Chief Scientist to support its strategic goals [1]

Group 1 - The company announced the approval of multiple proposals during the first meeting of the 11th Board of Directors in 2026, including the construction of the second phase of the oral liquid project by its wholly-owned subsidiary, Yunnan Baiyao Group Wenshan Qihua Co., Ltd., with a total investment budget of 137.36 million yuan [1] - The company approved the organizational structure plan for 2026 and appointed Dong Ming as CEO, Qian Yinghui as Board Secretary, and Li Mengjue as Securities Affairs Representative, with a three-year term [1] - The company aims to accelerate the establishment of a modern R&D system and capabilities, integrating traditional Chinese medicine with modern technology, by appointing Zhu Zhaoyun as the Strategic Scientist for Traditional Chinese Medicine and Zhang Ning as the Chief Scientist [1] Group 2 - Li Jin retired and will no longer serve as a senior management personnel of the company [1] - Zhu Zhaoyun is an academician of the Chinese Academy of Engineering and has held positions such as Director of Yunnan Provincial Institute of Drug Research and R&D Director of Yunnan Baiyao Group [1] - Zhang Ning is a professor at Peking University and has previously served as Deputy Director of the Medical Department at Peking University and Vice President of Tianjin Medical University [1]

自愿性信息披露公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 为加快构建云南白药集团股份有限公司（以下简称"公司"）现代化研 发体系及能力，统筹打好"中药"和"创新药"两张牌，推动传统中医药与 现代科技深度融合，为公司长期可持续发展注入战略动能，经公司总裁办公 会审议通过，同意聘任朱兆云女士担任中药战略科学家、张宁先生担任首席 科学家（简历详见附件）。 特此公告 股票代码：000538 股票简称：云南白药 公告编号：2026-04 云南白药集团股份有限公司 关于聘任中药战略科学家、首席科学家的 云南白药集团股份有限公司 2 / 2 附件：公司中药战略科学家、首席科学家简历 朱兆云 女，汉族，生于 1954 年 3 月，正高级工程师，中国工程院院士。 历任云南省药物研究所党委书记、所长，云南白药集团股份有限公司党委委 员、研发总监、中药研发总监。现任云南白药集团股份有限公司中药战略科 学家。 张 宁 男，汉族，生于 1970 年 11 月，北京大学教授，美国约翰·霍 普金斯大学医学院生化、细胞及分子生物学博士。历任北京大学医学部副主 任、北京大学科研部部长 ...

股票代码：000538 股票简称：云南白药 公告编号：2026-03 云南白药集团股份有限公司 第十一届董事会 2026 年第一次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 云南白药集团股份有限公司（以下简称"公司"）第十一届董事会 2026 年第一次会议（以下简称"会议"）于 2026 年 2 月 10 日在公司总部会议室 以现场结合通讯表决的方式召开，本次会议通知于 2026 年 2 月 5 日以书面、 邮件方式发出，应出席董事 12 名，实际出席董事 12 名（独立董事刘国恩先 生、纳超洪先生、董事李科先生以视频方式参会，独立董事曹仰锋先生以通 讯表决方式出席会议）。本次会议的召集、召开程序符合《中华人民共和国 公司法》《公司章程》的相关规定，会议合法有效。会议审议通过如下议案： 一、审议通过《关于建设文山公司口服液二期项目的议案》 为提升气血康等口服液产品的产能，满足持续增长的市场销售需求，更 好承接集团战略性大品种的生产，落实公司"打造大单品系列"的战略目标， 同意公司全资子公司云南白药集团文山七花有限责任公司建设文山公司口 服液二 ...

Core Viewpoint - Yunnan Baiyao announced the appointment of Zhu Zhaoyun as the Traditional Chinese Medicine Strategic Scientist and Zhang Ning as the Chief Scientist to enhance its modern R&D system and capabilities, integrating traditional Chinese medicine with modern technology [1] Group 1: Appointments - Zhu Zhaoyun, an academician of the Chinese Academy of Engineering, has previously served as the director of the Yunnan Provincial Institute of Drug Research and the R&D director of Yunnan Baiyao Group [1] - Zhang Ning, a professor at Peking University, has held positions such as the deputy director of the Peking University Health Science Center and the vice president of Tianjin Medical University [1] Group 2: Strategic Goals - The company aims to leverage both "traditional Chinese medicine" and "innovative drugs" to drive growth and development [1] - The appointments are part of a broader strategy to deepen the integration of traditional Chinese medicine with modern scientific advancements [1]

Investment Rating - The report maintains a "Buy" rating for key companies in the pharmaceutical sector, including Innovent Biologics, Efang Biologics, Tianshili, WuXi AppTec, and Mindray Medical [4][28]. Core Insights - The policy-driven upgrade of traditional Chinese medicine (TCM) industry is expected to enhance industry concentration in the medium to long term, benefiting companies with strong quality control and innovative capabilities [2][24]. - The implementation plan for high-quality development of the TCM industry aims to establish a collaborative development system by 2030, focusing on raw material supply, innovation, production quality control, and internationalization [2][23]. - The investment strategy emphasizes the importance of clinical value in the pharmaceutical sector, recommending a focus on innovative drugs and high-end medical devices [3][26]. Summary by Sections Market Review - The A-share pharmaceutical index rose by 0.14%, outperforming the CSI 300 index by 1.47 percentage points [1][16]. - The Hong Kong Hang Seng Medical Health Index fell by 1.41%, but still outperformed the Hang Seng Index by 1.65 percentage points [1][16]. Policy Insights - The Ministry of Industry and Information Technology and other departments issued a plan to enhance the TCM industry, which includes fostering leading enterprises and establishing high-standard raw material production bases [2][24]. - The plan emphasizes digitalization and sustainability, aiming to raise compliance standards and accelerate the exit of smaller companies from the market [2][25]. Company Updates - Recent clinical progress includes the NDA submission for HRS-9531 by Heng Rui Medicine and the initiation of clinical trials for various drugs by other companies [1][31][32]. - Key companies such as Yunnan Baiyao, Baiyunshan, and Taiji Group are highlighted for their strong positions in raw material supply [2][25]. Financial Forecasts - The report provides earnings per share (EPS) forecasts for key companies, with Innovent Biologics projected to have an EPS of 0.49 in 2025 and WuXi AppTec expected to reach an EPS of 5.07 in the same year [4][28]. - The pharmaceutical manufacturing industry reported a revenue decline of 1.2% year-on-year for 2025, with total revenue reaching 2,487 billion yuan [51].