Core Viewpoint - The company, Tonghua Jinma Pharmaceutical Group Co., Ltd., has disclosed its third-quarter financial report for 2025, ensuring the accuracy and completeness of the information provided [2][7]. Financial Data - The third-quarter financial report has not been audited [6]. - The company does not require retrospective adjustments or restatements of previous accounting data [3]. - There are no non-recurring profit and loss items applicable for the reporting period [3]. Shareholder Information - The report includes details on the total number of common shareholders and the top ten shareholders, but there are no changes in the shareholding structure due to securities lending activities [5]. Board Meeting - The 11th meeting of the 11th Board of Directors was held on October 24, 2025, with all nine directors present [8][9]. - The meeting was chaired by Zhang Yufu, and it complied with relevant laws and regulations [10][11]. - The board unanimously approved the third-quarter report during the meeting [12][14].

通化金马药业集团股份有限公司 第十一届董事会第十一次会议决议公告 证券代码：000766 证券简称：通化金马 公告编号：2025-36 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第十一次会议通知于 2025 年 10 月 14 日以微信和电子邮件形式送达全体董事。 2. 2025 年 10 月 24 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 审议并通过公司 2025 年第三季度报告 公司 2025 年第三季度报告同日披露于巨潮资讯网。 本议案已经董事会审计委员会全票审议通过。 会议以 9 票赞同，0 票反对，0 票弃权，审议通过了公司 2025 年第三季度报 告。 三、备查文件 经与会董事签字并加盖董事会印章的董事会决议。 通化金马药业集团股份有限公司董事会 2 ...

Financial Performance - The company's revenue for Q3 2025 was ¥242,267,320.96, a decrease of 24.15% compared to the same period last year[4] - Net profit attributable to shareholders was ¥8,159,473.51, down 28.77% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥4,932,132.89, a decline of 50.61% compared to the previous year[4] - The basic earnings per share for the period was ¥0.0084, a decrease of 29.41% year-on-year[4] - Total operating revenue for the current period is $892.25 million, a decrease of 7.87% from $968.59 million in the previous period[17] - Total operating costs decreased to $862.58 million, down 8.67% from $944.53 million in the previous period[17] - Net profit for the current period is $24.99 million, an increase of 4.73% compared to $23.86 million in the previous period[18] - Basic and diluted earnings per share increased to $0.0258 from $0.0248, reflecting a growth of 4.02%[18] - The company’s total profit before tax increased to $34.59 million, up from $25.80 million in the previous period[17] - The tax expense for the current period was $9.60 million, compared to $1.93 million in the previous period, indicating a substantial increase[17] Cash Flow and Investments - The company reported a net cash flow from operating activities of ¥70,813,021.95, down 36.44% compared to the same period last year[9] - Cash flow from operating activities generated a net amount of $70.81 million, down 36.49% from $111.41 million in the previous period[19] - The company reported a net cash outflow from investing activities of $8.07 million, an improvement from a net outflow of $26.15 million in the previous period[20] - Cash inflow from financing activities was $1.84 billion, significantly higher than $242.07 million in the previous period[21] - The company's cash and cash equivalents increased to ¥322,275,651.85 from ¥274,177,490.80, representing a growth of approximately 17.5%[14] - Cash and cash equivalents at the end of the period increased to $318.69 million, compared to $268.16 million at the end of the previous period[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,527,625,159.18, an increase of 0.98% from the end of the previous year[4] - Total current assets rose to ¥1,267,652,668.72 from ¥1,209,964,232.75, indicating an increase of approximately 4.8%[14] - Total non-current assets decreased to ¥3,259,972,490.46 from ¥3,273,654,369.89, a reduction of about 0.4%[14] - Total liabilities slightly decreased to ¥2,226,384,544.31 from ¥2,228,215,680.87, a reduction of about 0.1%[15] - Total current liabilities decreased to ¥564,411,535.57 from ¥2,156,866,308.24, a substantial decline of approximately 73.8%[15] - Short-term borrowings rose significantly to ¥259,723,459.70 from ¥194,748,486.10, an increase of about 33.4%[15] - The company's total equity increased to ¥2,301,240,614.87 from ¥2,255,402,921.77, representing a growth of approximately 2.0%[15] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 38,232[10] - The largest shareholder, Yu Lanjun, holds 19.66% of the shares, totaling 190,000,000 shares[10] Government Subsidies - The company received government subsidies amounting to ¥3,864,725.56 during the reporting period[6] Investment Income - The company experienced a 73.01% decrease in investment income, amounting to ¥883,866.55 for the period[9] - Accounts receivable decreased slightly to ¥493,623,944.11 from ¥499,551,966.08, a decline of about 1.8%[14]

Core Viewpoint - The company Tonghua Golden Horse has provided an update on the approval status of its new drug, indicating that it has completed all professional review work and is now in the comprehensive review stage, nearing the approval phase [2]. Summary by Categories - **Drug Approval Progress** - The new drug, Amber Dihydroaminoacridine Tablets, has completed all necessary professional review work and is currently in the comprehensive review stage, approaching the approval phase [2]. - The company advises stakeholders to refer to the public information from the drug review center for the latest updates on the drug's review progress [2]. - The company will disclose any information that meets the disclosure standards as per relevant regulations if significant events occur [2].

Core Viewpoint - The recent surge in stocks related to the "horse" concept reflects a speculative trend driven by emotions, with significant risks involved. Long-term stock prices are expected to revert to their intrinsic value, and investors may miss out on genuinely promising assets by chasing such themes [3][9][10]. Group 1: Stock Performance - Since July, 29 stocks with "horse" in their names have shown a notable increase, with an average rise of 59.85% year-to-date, significantly outperforming the A-share market's average increase of 33.51% [4][5]. - Seven stocks have more than doubled in value this year, with Jinma Amusement leading at a 267% increase [5][6]. - In July alone, Jinma Amusement saw a rise of over 90%, while several other "horse" stocks also experienced substantial gains [5][6]. Group 2: Market Dynamics - The market capitalization of "horse" related stocks ranges from 3.5 billion to 37.6 billion yuan, with 13 companies exceeding 10 billion yuan in market value [6]. - Despite the impressive stock performance, many of these companies have reported declining revenues or losses, indicating a disparity in the underlying business fundamentals [6][7]. Group 3: Speculative Behavior - The phenomenon of "zodiac stock" speculation is characterized by irrational market behavior and information asymmetry, leading to a bubble-like environment where prices deviate from fundamental values [9][10]. - The rise of social media and financial self-media has amplified the emotional contagion effect, making simplistic narratives like "buying horse stocks in the year of the horse" more prevalent [10][11].

Core Viewpoint - Tonghua Jinma's stock price has shown a significant increase of 56.56% year-to-date, but has recently experienced a slight decline in the last few trading days [1][2]. Financial Performance - For the first half of 2025, Tonghua Jinma achieved a revenue of 650 million yuan, reflecting a year-on-year growth of 0.12%. The net profit attributable to shareholders was 16.80 million yuan, marking a substantial increase of 34.77% [2]. - The company has cumulatively distributed 210 million yuan in dividends since its A-share listing, with no dividends paid in the last three years [3]. Stock Market Activity - As of October 16, the stock price was 24.58 yuan per share, with a market capitalization of 23.756 billion yuan. The trading volume was 184 million yuan, with a turnover rate of 0.77% [1]. - The stock has appeared on the "Dragon and Tiger List" twice this year, with the most recent instance on September 11, where it saw a net purchase of 142 million yuan [1]. Shareholder Information - As of June 30, 2025, the number of shareholders increased to 39,500, a rise of 6.54%. The average number of tradable shares per shareholder decreased by 6.13% to 24,457 shares [2]. - Notable shareholders include Innovation Drug and Southern CSI 1000 ETF, with changes in their holdings reported [3].

Group 1 - The core viewpoint of the news is that Tonghua Jinma has shown significant stock performance and financial growth, with a notable increase in share price and market capitalization [1][2]. - As of September 30, Tonghua Jinma's stock price increased by 64.46% year-to-date, with a market capitalization of 24.955 billion yuan [1]. - The company has experienced a net inflow of main funds amounting to 4.2117 million yuan, with significant buying activity from large orders [1]. Group 2 - Tonghua Jinma's main business revenue composition includes 59.27% from biochemical drugs, 40.56% from traditional Chinese medicine, and minimal contributions from raw materials and others [1]. - For the first half of 2025, Tonghua Jinma reported an operating income of 650 million yuan, reflecting a year-on-year growth of 0.12%, and a net profit attributable to shareholders of 16.804 million yuan, up 34.77% [2]. - The company has not distributed dividends in the last three years, with a total payout of 210 million yuan since its A-share listing [3].

证券代码：000766 证券简称：通化金马 公告编号：2025-35 通化金马药业集团股份有限公司 2025年第三次临时股东会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1.本次股东会无否决提案的情形。 2.本次股东会不涉及变更以往股东会已通过的决议。 一、会议召开和出席情况 1、召开时间： 现场会议召开时间为：2025年9月15日下午14:30 网络投票时间为：通过深圳证券交易所交易系统进行网络投票的具体时间为 2025年9月15日9:15—9:25，9:30—11:30和13:00—15:00；通过互联网投票系统 进行网络投票的具体时间为2025年9月15日上午9:15至下午15:00期间的任意时 间。 2、召开地点：吉林省通化市二道江区金马路999号，公司七楼会议室。 出席会议的股东及股东代表共317人，代表股份207,546,714股，占公司股份 总数的21.4742%。 其中：出席现场会议的股东及股东授权委托代表共9人，代表股份 200,010,900股，占公司股份总数的20.6945%。 3、召开方式：采用现场表决与网络投 ...

吉林秉责律师事务所 关于通化金马药业集团股份有限公司 2025 年第三次临时股东会的法律意见书 致：通化金马药业集团股份有限公司 根据《中华人民共和国证券法》（以下简称"《证券法》"）、《中华人民共和国 公司法》（以下简称"《公司法》"）、《上市公司股东会规则》（以下简称"《股东会 规则》"）和《通化金马药业集团股份有限公司章程》（以下简称"《公司章程》"） 的有关规定，吉林秉责律师事务所（以下简称"本所"）接受了通化金马药业集 团股份有限公司（以下简称"公司"）的委托，担任公司 2025 年第三次临时股东 会（以下简称"本次股东会"）特聘专项法律顾问并出具法律意见书。 本次股东会由公司董事会召集，会议召开方式为现场投票与网络投票相结合 的方式。 现场会议的召开时间：2025 年 9 月 15 日下午 14 点 30 分，会议地点为吉林 省通化市通化金马药业集团股份有限公司七楼会议室。 网络投票时间为：通过深圳证券交易所交易系统进行网络投票的具体时间为 2025 年 9 月 15 日 9:15—9:25，9:30—11:30 和 13:00—15:00；通过互联网投票 系统进行网络投票的具体时间为 2025 ...

Group 1 - The core viewpoint of the news is the performance and financial metrics of Tonghua Jinma Pharmaceutical Group Co., Ltd, highlighting its stock price increase and market capitalization [1] - As of September 11, Tonghua Jinma's stock rose by 5.03%, reaching a price of 26.29 yuan per share, with a trading volume of 1.584 billion yuan and a turnover rate of 6.61%, resulting in a total market value of 25.409 billion yuan [1] - The company, established on February 26, 1993, and listed on April 30, 1997, focuses on the research, production, and sales of pharmaceuticals, with its main revenue sources being biopharmaceuticals (59.27%), traditional Chinese medicine (40.56%), raw materials (0.10%), and others (0.07%) [1] Group 2 - From the perspective of fund holdings, Guolian An Fund has a significant position in Tonghua Jinma, with its Guolian An CSI Pharmaceutical 100A fund holding 96,800 shares, accounting for 1.04% of the fund's net value [2] - The fund reduced its holdings by 47,600 shares in the second quarter, and the estimated floating profit from this investment is approximately 122,000 yuan [2] - The Guolian An CSI Pharmaceutical 100A fund, established on August 21, 2013, has a current scale of 178 million yuan, with a year-to-date return of 20.34% and a one-year return of 38.85% [2]