证券代码：000766 证券简称：通化金马 公告编号：2025-38 通化金马药业集团股份有限公司 第十一届董事会 2025 年第八次临时会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 一、董事会会议召开情况 1.通化金马药业集团股份有限公司第十一届董事会2025年第八次临时会议通知 于2025年11月5日以微信和电子邮件形式送达全体董事。 2.2025 年 11 月 6 日上午 9 时 30 分以现场和通讯方式召开。 3.会议应到董事9人，实到董事9人。 4.会议由董事长张玉富先生主持，部分高管人员列席了本次会议。 5.本次董事会会议的召开符合有关法律、行政法规、部门规章、规范性文件和 公司章程的规定。 二、董事会会议审议情况 审议并通过关于对外投资设立全资子公司的议案 根据公司整体战略规划和研发业务需要，公司拟使用自有或自筹资金人民币 7,000 万元投资设立全资子公司桂林金马创新投资有限公司（暂定名，以工商行政 管理部门核准名称为准）。有关内容详见公司同日刊登于巨潮资讯网上的《关于对外 投资设立全资子公司的公告》。 表决结果：同意 9 票， ...

Core Viewpoint - The company plans to invest CNY 70 million to establish a wholly-owned subsidiary, Guilin Jinma Innovation Investment Co., Ltd., to enhance its capabilities in the innovative pharmaceutical sector and align with its strategic transformation towards a modern, innovation-driven pharmaceutical enterprise [1] Investment Details - The investment amount is CNY 70 million, which will be sourced from the company's own or raised funds [1] - The registered capital of the new subsidiary will also be CNY 70 million [1] - The location of the new subsidiary is in Guilin City, specifically in the Lingui District [1] Strategic Intent - The investment aims to strengthen mergers and acquisitions in the innovative drug industry and optimize the company's industrial layout [1] - This move is in line with the company's strategic planning to transition into an innovation-driven modern pharmaceutical enterprise [1] Approval and Compliance - The investment has undergone the necessary board approval process and does not require shareholder meeting review [1] - The transaction does not constitute a related party transaction or a major asset restructuring [1] Future Considerations - The newly established company has not yet completed its business registration, indicating that future revenue remains uncertain [1] - The company plans to enhance its management mechanisms to mitigate risks associated with this investment [1]

Core Viewpoint - Tonghua Golden Horse announced the establishment of a wholly-owned subsidiary, Guilin Jinma Innovation Investment Co., Ltd., with an investment of 70 million yuan to enhance its strategic transformation in the innovative pharmaceutical industry [1] Group 1: Company Actions - The company will hold its 11th board meeting on November 6, 2025, to approve the investment proposal [1] - The investment will be funded through the company's own or raised funds, and the company will hold 100% of the new subsidiary [1] - The investment decision falls within the board's approval authority and does not constitute a related party transaction or a major asset restructuring [1] Group 2: Strategic Intent - The purpose of this investment is to conduct mergers and acquisitions in the innovative pharmaceutical sector as part of the company's transformation strategy [1] - The company acknowledges that the investment may be influenced by industry policies but believes it will help optimize its industrial layout [1]

Core Viewpoint - Tonghua Jinma's stock price has shown significant growth this year, with a year-to-date increase of 74.52%, despite a recent decline in trading [1][2]. Company Overview - Tonghua Jinma Pharmaceutical Group Co., Ltd. is located in Tonghua City, Jilin Province, and was established on February 26, 1993, with its listing date on April 30, 1997. The company specializes in the research, production, and sales of pharmaceuticals [1]. - The main revenue composition includes biopharmaceuticals (59.27%), traditional Chinese medicine (40.56%), raw materials (0.10%), and others (0.07%) [1]. Financial Performance - For the period from January to September 2025, Tonghua Jinma reported operating revenue of 892 million yuan, a year-on-year decrease of 7.88%. However, the net profit attributable to shareholders increased by 4.35% to 24.96 million yuan [2]. - The company has cumulatively distributed 210 million yuan in dividends since its A-share listing, with no dividends distributed in the past three years [3]. Shareholder Structure - As of September 30, 2025, the number of shareholders decreased by 3.20% to 38,200, with an average of 25,266 circulating shares per person, an increase of 3.31% [2]. - The top ten circulating shareholders include notable entities such as Innovation Drug and Southern CSI 1000 ETF, with varying changes in their holdings [3].

Group 1 - The chemical pharmaceutical sector increased by 0.25% on November 3, with Asia-Pacific Pharmaceutical leading the gains [1] - The Shanghai Composite Index closed at 3976.52, up 0.55%, while the Shenzhen Component Index closed at 13404.06, up 0.19% [1] - Asia-Pacific Pharmaceutical's stock price rose by 9.96% to 8.72, with a trading volume of 1.6689 million shares and a transaction value of 1.442 billion [1] Group 2 - The top gainers in the chemical pharmaceutical sector included HaiXiang Pharmaceutical, which rose by 9.93% to 6.31, and Tonghua Golden Horse, which increased by 8.37% to 28.10 [1] - The sector experienced a net outflow of 114 million from institutional investors, while retail investors saw a net outflow of 186 million, and speculative funds had a net inflow of 301 million [2][3] - The stock of YiPinHong decreased by 5.15% to 53.06, with a trading volume of 134,400 shares and a transaction value of 713 million [2]

Core Viewpoint - Tonghua Jinma is a modern pharmaceutical enterprise with a significant influence in the industry, focusing on drug research, production, and sales [1] Group 1: Business Performance - In Q3 2025, Tonghua Jinma achieved a revenue of 892 million yuan, ranking 52nd among 110 companies in the industry, with the industry leader, Huadong Medicine, generating 32.664 billion yuan [2] - The net profit for the same period was 24.99 million yuan, placing the company 72nd in the industry, while the top performer, Heng Rui Medicine, reported a net profit of 5.76 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, Tonghua Jinma's debt-to-asset ratio was 49.17%, slightly up from 49.06% year-on-year, which is higher than the industry average of 35.26% [3] - The company's gross profit margin for Q3 2025 was 72.58%, down from 75.39% year-on-year, but still above the industry average of 57.17% [3] Group 3: Executive Compensation - The chairman and general manager, Zhang Yufu, received a salary of 1.5014 million yuan in 2024, an increase of 601,200 yuan from 2023 [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 3.20% to 38,200, while the average number of circulating A-shares held per shareholder increased by 3.31% to 25,300 [5]

Core Insights - Tonghua Golden Horse's stock price increased by 2.13% on October 31, reaching 25.85 CNY per share, with a total market capitalization of 24.984 billion CNY [1] - The company has seen a year-to-date stock price increase of 64.65%, with a recent 5-day increase of 2.58% [1][2] - For the first nine months of 2025, the company reported a revenue of 892 million CNY, a year-on-year decrease of 7.88%, while net profit attributable to shareholders increased by 4.35% to 24.9635 million CNY [2][3] Financial Performance - The company’s main business revenue composition includes biopharmaceuticals (59.27%), traditional Chinese medicine (40.56%), raw materials (0.10%), and others (0.07%) [1] - As of September 30, 2025, the number of shareholders decreased by 3.20% to 38,200, with an average of 25,266 circulating shares per shareholder, an increase of 3.31% [2] Shareholder Structure - The top ten circulating shareholders include notable entities such as Innovation Drug and Southern CSI 1000 ETF, with changes in their holdings noted [3] - Cumulative cash dividends since the company's A-share listing amount to 210 million CNY, with no dividends paid in the last three years [3]

Group 1 - The company confirms that the approval process for its new drug is currently proceeding normally and is in the final stages of comprehensive review [2] - The new drug, Amber Dihydroaminoacridine Tablets, has completed all professional review work and is now in the comprehensive review phase [2] - The company will disclose any significant information as per regulatory requirements if it meets the criteria for information disclosure [2]

Core Viewpoint - The company Tonghua Golden Horse (000766.SZ) confirms that its new drug approval process is progressing normally and is nearing the final approval stage [1]. Group 1: Approval Process - The company has completed all professional review work for its new drug and has entered the comprehensive review phase [1]. - The approval work is currently proceeding normally, with the new drug, Amber Dihydroaminoacridine Tablets, in the final stages of review [1]. - The company will disclose any significant information as per the relevant disclosure regulations if necessary [1].

Group 1 - The core point of the article is the performance and changes in the top holdings of the Yinhua CSI Innovation Drug Industry ETF, which reported a net value growth rate of 24.54% over the past year [1] - The fund has added new top holdings including Kanglong Chemical and Baile Tianheng, while increasing its stake in WuXi AppTec by 64.87 million shares, making it the largest holding [1] - The fund has exited from its previous top holdings, including Tigermed and Tonghua Golden Horse [1] Group 2 - The detailed data shows the number of shares held and market value for each of the top holdings, with WuXi AppTec holding 15.52 million shares valued at 1.74 billion and Kanglong Chemical holding 8.56 million shares valued at 306 million [1] - Other significant holdings include Hengrui Medicine, Changchun High-tech, and Kelun Pharmaceutical, with respective increases in shareholding [1] - The report indicates a strategic shift in the fund's portfolio, reflecting a focus on companies with strong growth potential in the pharmaceutical sector [1]