According to Baihua Pharmaceutical's announcement, the cumulative deviation value of the company's stock closing price drop for three consecutive trading days reached 20%, which is an abnormal fluctuation in stock trading. In the first half of 2026, the company achieved operating income of 157 million yuan, a year-on-year decrease of 22.13%; net profit to mother of 147.603 million yuan, a year-on-year decrease of 42.08%; deducted non-net profit of 12.1863 million yuan, a year-on-year decrease of 49.35%. In the second quarter of 2026, revenue increased 34.22% month-on-month, and net profit to mother increased 22.20% month-on-month. There have been no major changes in the company's main business, and there is no major change in innovative drug research and development. The latest rolling price-earnings ratio is 169.27 times, which is significantly higher than the industry level, and there is a risk of a rapid decline. After verification, the company and controlling shareholders had no material information that should have been disclosed but not disclosed.

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