5 consecutive limit-ups, JinYao Pharmaceutical: The company currently focuses its R&D mainly on generic drugs, with no ongoing innovative drug projects.

(Source: Caixin)

          For the first three quarters of 2025, the company achieved operating revenue of 2.232 billion yuan, a year-on-year decrease of 13.24%, and net profit attributable to shareholders of listed companies of 69.54 million yuan, a year-on-year decrease of 62.75%.            

On April 2, Tianyao Pharmaceutical (600488.SH) issued a stock trading risk warning announcement, stating that the company’s share price has risen sharply and continuously in the short term, and there is a risk of a rapid decline. During the period from March 26 to April 2, 2026, the company’s stock hit the daily trading limit for five consecutive trading days. During this period, the cumulative increase in the stock price was 60.10%. There may be circumstances of overheated market sentiment and irrational speculation. The company’s fundamentals have not changed significantly, and there is always a risk of a rapid decline. As of April 2, 2026, the company’s latest price-to-earnings ratio (TTM) was 424.82 times. According to the latest data from China Securities Index Co., Ltd., for the industry classification “C27 Pharmaceutical Manufacturing” under the company’s industry category, the industry rolling P/E ratio is 29.72 times; the company’s relevant indicators are seriously deviating from the industry’s reasonable valuation level.

The company’s most recent operating performance has declined significantly, and the stock price increase has already deviated from the company’s operating fundamentals. For the first three quarters of 2025, the company achieved operating revenue of 2.232 billion yuan, a year-on-year decrease of 13.24%, and net profit attributable to shareholders of listed companies of 69.54 million yuan, a year-on-year decrease of 62.75%. Net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 136 million yuan, a year-on-year decrease of 26.06%.

The company’s R&D mainly focuses on generic drugs, with no innovative drug projects currently under development. The company has noted that the market has listed the company under the concept of innovative drugs. Currently, however, the company’s R&D is still mainly on generic drugs, with no innovative drug projects under development. The company’s main business is the R&D, production, and sales of steroid hormone products, amino acid raw materials, and formulations.

After conducting internal self-inspection, the company states that its current production and business activities are normal, and there have been no major changes in its daily operating conditions. The market environment or industry policies have not undergone major adjustments. There have been no significant fluctuations in matters such as production costs and sales, and the internal production and operating order is normal. The company’s share price has risen sharply and continuously in the short term, and there may be circumstances of overheated market sentiment and irrational speculation, with a risk of a rapid decline at any time. Investors are kindly requested to pay attention to risks in secondary-market trading, make rational decisions, and invest prudently.

The company’s most recent operating performance has declined significantly, and the stock price increase has already deviated from the company’s operating fundamentals. For the first three quarters of 2025, the company achieved operating revenue of 2.232 billion yuan, a year-on-year decrease of 13.24%, and net profit attributable to shareholders of listed companies of 69.54 million yuan, a year-on-year decrease of 62.75%. Net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 136 million yuan, a year-on-year decrease of 26.06%. The company will disclose its “2025 Annual Report” on April 25, 2026. There is no situation requiring it to disclose performance forecasts. Unpublished periodic performance information has not been provided to third parties other than accounting firms auditing the company. The specific financial data shall be subject to the audited “2025 Annual Report” officially disclosed by the company.

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