文丨财联社

shige3nian4geyuehou，shizhi1600yiyuande“zhongyaomao”pianzihuangzaiduguanxuanhexinchanpinzhangjia。pianzihuang5yue5rigonggaocheng，juedingzigonggaozhiriqi，gongsizhudaochanpinpianzihuangdingjiguoneishichanglingshoujiagejiangcong590yuan/lishangdiaodao760yuan/li，zhangjiafududadao28.8%；gongyingjiagexiangyingshangdiaoyue170yuan/li；haiwaishichanggongyingjiagexiangyingshangdiaoyue35meiyuan/li。

片仔癀本轮提价幅度创历史记录，成本压力大增成为主因

jucailianshebuwanquantongji，1999nianzhi2023nian，pianzihuangdingjichanpingongtijia21ci，neixiaojiagecong110yuan/lizhangzhi760yuan/li，leijizhangfugaoda590.9%，ercicidancitijia28.8%defuduyeshichuangchulicizhangjiajilu。

genjupianzihuang2022niannianbaoxianshi，gongsipianzihuangxiliechanpinshejideyaocaizhuyaobaokuoshexiang、niuhuang、shedan、sanqi，chushexiang、shedanxuhuodeguojialinyebumenxingzhengxuke，yangeanguojiayouguanguidingzuzhicaigouwai，qiyuzhongyaocaitongguoshichangqudaojinxingcaigou，caigoujiagesuixingjiushi。yishangsizhongyuanliaomingguixiqueqiejiagechixujianting，duipianzihuangxiliechanpindechengbenchanshengzhijieyingxiang。juxinanzhengquancesuan，tianranshexiangheniuhuangduichengbenzhanbihejichaochu9cheng。ergenjuhuaanzhengquanyanbaoxianshi，tianranshexiangjiagecong2018nian38wanyuan/qiankeshangzhangdaole2022niande44wanyuan/qianke，leijizhangfudadao15.8%，tianranniuhuangjiagegengshicong2018nian7yuede35wanyuan/qiankebiaoshengzhi2023nianchude80wanyuan/qianke，leijizhangfudadao128.6%。

gongsi2022niannianbaotongshizhichu，congzhangqikan，shexiang、niuhuangjishedandejiagechengshangzhangqushi，weilaijiangduipianzihuangxiliechanpinchengbenchanshengshangshengyali。weihelikongzhichengben，gongsijiangcaiqutiqianbuju、chixuguanzhuzhuyaodapinzhonghuozhongyaoyaocaishichangxingqing，shishijiadazhanlvexingcaigouchubei，yizuidaxiandukongzhichengben。

绝密配方显稀缺性 成为涨价最佳护城河

pianzihuangyuanyumingchaomonian，yongyoujin500nianchuanchenglishi，muqiangongkaidesixiangzhuyaoyuancailiaoweichuntianranshangdengdeshexiang、niuhuang、shedan、tianqi，danqipeifangheshengchangongyizhijinmierbuxuan。muqianpianzihuangheyunnanbaiyaoshiwoguoweierdeyijizhongyaobaohupinzhong，zaibaomimijishangweiguojiashuangjuemipeifang，qixiquexingtuxian。genjuhuaanzhengquanyanbaozhichu，zhongyaobaohupinzhongfenweiyijiheerji，chuleshenqingtiaojiandebutongyiwai，zuidequbiezaiyubaohuqixiandebutong，zhongyaoyijibaohupinzhongdebaohuqixianfenbiewei30、20、10nian，bingkeyidaoqishenqingyanzhang；erjibaohupinzhongdebaohuqixianwei7nian。

yijizhongyaobaohupinzhongdeshenqingtiaojianyange，xumanzusangetiaojianzhiyi：（yi）duitedingjibingyouteshuliaoxiaodeyixue；（er）xiangdangyuguojiayijibaohuyeshengyaocaiwuzhongderengongzhichengpin；（san）yongyuyufanghezhiliaoteshujibingde。1993nian1yue1riqishixingde《zhongyaopinzhongbaohutiaoli》yilai，yigongjiuwugepinzhong，fenbieshilongmuzhuanggukeli、fuziajiao、pianzihuang、yunnanbaiyao、liushenwan，huodele“guojiayijizhongyaobaohupinzhongchenghao”zheiyizhongyaojiedezuigaorongyu。1999nianyihou，jiumeiyouqitapinzhonghuocishurong。suizhezhengshudedaoqi，yixiepinzhongmeinenghuodeyijizhongyaobaohupinzhong，erzhiyoupianzihuangheyunnanbaiyaoyizhizuoweizhongguozhongyaoliangdajuemiyaoliucunzhijin。zuoweijinyoude2geyijibaohupinzhong，pianzihuangchengweijiqixiquedeziyuan，xiangyouzizhudingjiaquan。

掌握独家稀缺配方中药企业享自主定价权 新一轮涨价潮开启板块估值扩张

dongbeizhengquanrenwei，yuanliaogongyingjuedingqichanliang、xiaoliangyijiweilaidezengzhang，duiyujubeiyuanliaoxiquedepinpaizhongyaootc，yuanliaogongyingweijuedingqifazhandehexinyinsu。yuancailiaojiagedetisheng，daidongchanpinjiagetisheng。tongshiyouyujingpinzhongyaopinzhongzishendexiqueshuxing，shidutijiabingbuhuiyingxiangqixiaoliangzengzhang，zaijiangyuancailiaojiagetishengchuandaoxiangzhongduandetongshifanerhuodelegengweizhudongdedingjiakongjian，liangjiaqishengluojikechixu。

tianfengzhengquanyanbaorenwei，cong2023niancelveshanglaikan，zhongyaojiangyanyisangejieduandejiaoyijihui——yejiwending、guzhixiufu、guzhikuozhang。yizhongguoteseguzhitixiweiqierudian，qizaiyiyaoxingyeyanyilujingzhiyibianshizhongyiyao。zhongyaobankuaiyouwangjinruguzhikuozhangjieduan。zhengtikanhaozhongyaobankuaijihui，yejiqushixianghao，guzhiyouwangcongxiufudaokuozhang。

jucailianshebuwanquantongji，muqianzhangwoyouguojiajibaomihuobaohuzhongyaopinzhongyijinianxiaoshouechaoyiyuandedujiadadanpinzhongyaodexiangguanshangshigongsigongyou35jia，qizhong32jiagongsijinnianyijibaojinglirunshixiantongbizengzhang，tongbizengsuchao100%degongsiyou8jia，taijijituanyijidujingliruntongbizengfudadao991.16%。congyinglinenglicengmiankan，11jiagongsijinnianyijidudexiaoshoumaolilvdadao70%yishang，qizhongjichuanyaoye、qizhengzangyaoxiaoshoumaolilvchaoguo80%。ercongguzhicengmiankan，8jiagongsimuqiandongtaishiyinglvdiyu15bei，qizhongbaiyunshanmuqiandongtaishiyinglvjinyou7.2bei。