Core Viewpoint - Gushengtang (02273.HK) announced a share buyback plan, indicating confidence in its stock value and future prospects [1] Summary by Categories Company Actions - The company will spend HKD 14.44 million to repurchase 500,000 shares [1] - The buyback price ranges from HKD 28.48 to HKD 29.18 per share [1]

Group 1 - The company, Guoshengtang (02273), announced a share buyback plan on November 21, 2025, involving an expenditure of HKD 14.4424 million to repurchase 500,000 shares [1] - The repurchase price per share is set between HKD 28.48 and HKD 29.18 [1]

Core Viewpoint - The company, Gushengtang (02273), announced a share buyback plan, indicating confidence in its stock value and future prospects [1] Group 1 - The company will spend HKD 14.4424 million to repurchase 500,000 shares [1] - The buyback price per share ranges from HKD 28.48 to HKD 29.18 [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 固生堂控股有限公司 呈交日期： 2025年11月21日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 02273 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | | 佔有關 ...

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Core Viewpoint - Gushengtang (02273) is actively expanding its presence in the Singapore market through acquisitions and partnerships, with a recent announcement of acquiring 100% equity in Da Zhong Tang PTE. LTD. [1][2] Group 1: Acquisition Details - Gushengtang Singapore TCM Healthcare Technologies Holdings Private Limited has entered into a share transfer agreement to acquire 100% equity and related rights of Da Zhong Tang PTE. LTD. [1] - Upon completion of the acquisition, Da Zhong Tang will become a subsidiary of Gushengtang, and its financial performance will be consolidated into Gushengtang's financial statements. [1] Group 2: Strategic Expansion - Gushengtang is accelerating its international expansion in traditional Chinese medicine by employing a "merger + cooperation + self-built" strategy, particularly focusing on the Singapore market. [2] - A strategic partnership was established with the digital healthcare platform 1doc, resulting in a joint venture where Gushengtang holds a 70% stake and will manage operations. [2] - The acquisition of Da Zhong Tang will add 14 new outpatient clinics to Gushengtang's operations, enhancing its service network and operational synergy in Singapore. [2]

Core Viewpoint - Gushengtang (02273) is actively expanding its presence in the Singapore market through acquisitions and partnerships, with a recent announcement of acquiring 100% equity in DA ZHONG TANG PTE. LTD. [1][2] Group 1: Acquisition Details - Gushengtang Singapore has entered into a share transfer agreement to acquire 100% equity and related interests in DA ZHONG TANG PTE. LTD., which will become a subsidiary of Gushengtang upon completion of the acquisition [1]. - The acquisition is set to be completed by November 16, 2025, and will result in the financial performance of DA ZHONG TANG being consolidated into Gushengtang's financial statements [1]. Group 2: Strategic Expansion - Gushengtang is accelerating its international expansion in traditional Chinese medicine by employing a "merger + cooperation + self-built" strategy, particularly focusing on the Singapore market [2]. - Following the acquisition of DA ZHONG TANG, Gushengtang will add 14 new outpatient clinics, enhancing its service network and operational synergy in Singapore [2]. - A strategic partnership with the digital healthcare platform 1doc has been established, where Gushengtang will hold a 70% stake in a joint venture responsible for managing traditional Chinese medicine services within 1doc's existing clinic network [2].

Group 1 - The latest shareholder equity disclosures for four companies, including 开拓药业-B, 深圳高速公路股份, 固生堂, and 药师帮, were made on November 20, 2025 [1] - 开拓药业-B saw an increase in holdings by Tong Youzhi from 51.50 million shares to 52.20 million shares, representing an increase in ownership percentage from 11.00% to 11.15% [2] - 深圳高速公路股份 experienced a rise in holdings by 江苏云杉资本管理 from 74.75 million shares to 82.23 million shares, with ownership percentage increasing from 10.00% to 11.00% [2] Group 2 - 固生堂's Action Thrive Group Limited increased its holdings from 30.03 million shares to 30.13 million shares, with a slight increase in ownership percentage from 12.97% to 13.01% [2] - 药师帮's 陈飞 raised his holdings from 8.60 million shares to 8.80 million shares, with ownership percentage increasing from 1.26% to 1.29% [2] - 固生堂's 涂志亮 increased his holdings from 81.37 million shares to 81.48 million shares, with ownership percentage slightly rising from 35.14% to 35.19% [2]

Group 1 - The company announced the acquisition of 100% equity and related rights of Da Zhong Tang PTE. LTD. by its subsidiary Gushengtang Singapore, marking a significant step in its overseas expansion strategy [1] - The acquisition follows a strategic partnership with a digital healthcare platform in Singapore, indicating an accelerated implementation of the company's traditional Chinese medicine (TCM) internationalization strategy [1] - Da Zhong Tang operates 14 TCM clinics in Singapore, providing a well-established local service capability and a trusted user base, which will enhance the company's market coverage and operational synergy upon completion of the acquisition [1] Group 2 - The company is leveraging vast, high-quality clinical data to accelerate the development of AI replicas of renowned doctors, aiming to transform TCM medical practices [2] - The AI system, based on deep learning algorithms, can replicate the diagnostic capabilities of top experts, facilitating the transfer of knowledge and improving the efficiency of medical resource supply [2] - The company maintains a positive outlook on its financial performance, projecting adjusted net profits of 493 million, 594 million, and 708 million for the years 2025 to 2027, supported by ongoing share buybacks and favorable industry conditions [2]

Core Viewpoint - The completion of the acquisition of 100% equity in Singapore's Dazhongtang marks a significant step for the company towards large-scale overseas expansion, with plans to increase the number of clinics in Singapore and enter markets like Hong Kong and Malaysia [1][2]. Group 1: Acquisition and Expansion Plans - The company has acquired 14 traditional Chinese medicine clinics in Singapore, covering key business districts and residential areas [2]. - The revenue of Dazhongtang in 2024 was approximately 8 million Singapore dollars (around 50 million RMB), with a growth rate exceeding 5% in 2025 [2]. - The company aims to acquire an additional 10-20 clinics in Singapore and become the leading TCM service brand in the region by 2026 [2]. Group 2: Domestic Market and Policy Environment - The domestic policy environment is stabilizing, which is favorable for leading companies in the industry [2]. - In Wuxi, the company's store revenue increased by over 40% year-on-year in October 2025, with a profit margin of 26%, significantly above the company average [2]. - The optimization of traditional Chinese medicine decoction pieces procurement rules allows the company to enjoy favorable pricing without participating in collective procurement [2]. Group 3: Shareholder Returns and Financial Outlook - The company has repurchased shares worth 232 million HKD from July 1 to November 17, 2025, significantly exceeding the 85 million HKD repurchase in the first half of the year [3]. - The management has committed to maintaining a 50% dividend payout ratio, reflecting confidence in the company's growth [3]. - The adjusted revenue growth forecasts for 2025E, 2026E, and 2027E are 11.3%, 21.9%, and 24.0%, respectively, with adjusted net profit growth of 11.9%, 23.8%, and 26.3% [3].