On the evening of April 28, Tasly (600535) released its first quarter report for 2025. During the reporting period, the company achieved pharmaceutical industry revenue of 1.842 billion yuan, a year-on-year increase of 1.83%. The company achieved a net profit of 314 million yuan attributable to its parent company in the first quarter, a year-on-year increase of 6.47%. In the first quarter, the company's traditional Chinese medicine sector achieved revenue of 1.469 billion yuan, a year-on-year increase of 1.90%.

On March 28, the company announced that the transfer and registration of shares between the original controlling shareholder Tasly Group and its concerted actors and China Resources Sanjiu and Guoxin Investment has been completed. China Resources Sanjiu became the company's controlling shareholder, and the actual controller was changed to China Resources Co., Ltd. With the completion of the transaction, Tasly also announced major adjustments to the board of directors and the board of supervisors, and with the recommendation of China Resources Sanjiu, the Tasly board of directors completed the appointment of the senior management team.

The company's annual report pointed out that China Resources Sanjiu and Tasly will empower each other, making Tasly's innovation advantages more prominent and consolidating its leading position in modern Chinese medicine research and development; through China Resources Sanjiu's support in management, marketing and policy resources, Tasly will be able to quickly improve its competitiveness in more dimensions, obtain better development prospects, and increase the company's value and investment returns to public shareholders.

According to the company's annual report, Tasly's R&D investment in 2024 will reach 1.039 billion yuan, accounting for 12.23% of operating income, which is at the leading level in the industry.

At present, the company has a research and development pipeline covering 98 products under development, including 33 Class 1 innovative drugs; 27 are in the clinical trial stage, and 22 are in the clinical phase II and III stage. The company has 23 products in modern Chinese medicine, and three products, Loquat Qingfei Drink, Wenjing Decoction, and Anshen Drop Pills, are in the production application stage; 17 products are in the clinical phase II and III research stage.

Among them, Jitongning Tablets, Qingzhu Granules, Antiwei Granules, Xiangju Rupining Capsules, Susu Children's Cough Granules, Changkang Granules, Lianxia Xiaopi Granules, Sanhuang Jingshiming Pills, T89 for the treatment of chronic stable angina pectoris and T89 for the prevention and treatment of acute plateau syndrome (AMS) have entered Phase III clinical trials, and Antiwei has completed the enrollment of all cases in Phase III; Qishen Yiqi Drops have added heart failure (decreased and retained types), Yangxueshengnao Pills have added Alzheimer's disease indications, Qishen Yiqi Drops have added diabetic nephropathy indications, Qiling Wenshen Xiaonang Granules, and Picrorhizon Total Glucosides Capsules have completed the enrollment of all cases in Phase II; Jiuwei Huaban Pills and Jiashen Tablets are currently enrolling in Phase II clinical trials.

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