Core Viewpoint - Shanghai Pharmaceuticals Holding Co., Ltd. plans to renew the framework agreement for daily related transactions with Yunnan Baiyao Group Co., Ltd. for the period from January 1, 2026, to December 31, 2026, with a sales cap of RMB 1.2 billion and a procurement cap of RMB 700 million [1] Group 1: Transaction Details - The sales cap for products sold by Shanghai Pharmaceuticals to Yunnan Baiyao is set at RMB 1.2 billion [1] - The procurement cap for products purchased by Shanghai Pharmaceuticals from Yunnan Baiyao is set at RMB 700 million [1] - The transaction involves amounts exceeding RMB 3 million and represents more than 0.5% but less than 5% of the latest audited net assets of Shanghai Pharmaceuticals, thus requiring board approval but not shareholder approval [1] Group 2: Shareholding Information - Yunnan Baiyao holds a 17.95% stake in Shanghai Pharmaceuticals, making it the second-largest shareholder [1] - According to the Shanghai Stock Exchange listing rules, Yunnan Baiyao is considered a related party to Shanghai Pharmaceuticals due to its significant shareholding [1]

证券代码：601607 证券简称：上海医药 公告编号：临 2025-120 上海医药集团股份有限公司 关于拟与云南白药集团股份有限公司续签《日常关联交易/ 持续关连交易框架协议》的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 2025 年 12 月 29 日，上海医药第八届独立董事专门会议第十二次会议及第 八届董事会第二十七次会议审议通过《关于与云南白药集团股份有限公司续签< 日常关联交易/持续关联交易框架协议>的议案》。根据协议，2026 年 1 月 1 日至 2026 年 12 月 31 日，本公司向云南白药销售产品金额上限为人民币 12 亿元；本 公司向云南白药采购产品金额上限为人民币 7 亿元。 1 在董事会审议该议案时，关联董事张文学先生、董明先生主动回避该议案的 表决，其他非关联董事一致同意该议案。独立董事专门会议已事前审核本次交易， 认为本次交易符合《中华人民共和国公司法》、《中华人民共和国证券法》、《上海 证券交易所股票上市规则》等相关规定，是公司在日常经营业务中发生的交易， 符合公司正常生产经营 ...

1、《关于与云南白药集团股份有限公司续签<日常关联交易/持续关连交易 框架协议>的议案》 详见本公司公告临 2025-120 号。 本议案已经过公司第八届董事会独立董事专门会议第十二次会议审议通过， 同意提交董事会审议。 同意公司与云南白药续签《日常关联交易/持续关连交易框架协议》。2026 年 1 月 1 日至 12 月 31 日，本公司向云南白药销售产品金额上限为人民币 12 亿 元，本公司向云南白药采购产品金额上限为人民币 7 亿元。 关联/连董事张文学先生、董明先生主动回避该议案的表决，七位非关联/ 连董事全部投票同意。 表决结果：赞成 7 票，反对 0 票，弃权 0 票 证券代码：601607 证券简称：上海医药 公告编号：临2025-119 上海医药集团股份有限公司 第八届董事会第二十七次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 上海医药集团股份有限公司（以下简称"本公司"）第八届董事会第二十七 次会议（以下简称"本次会议"）于 2025 年 12 月 29 日以通讯方式召开。本次会 议应 ...

Core Viewpoint - Shanghai Pharmaceuticals announced the board's approval to renew the framework agreement for daily related transactions with Yunnan Baiyao, effective from January 1, 2026, to December 31, 2026, with sales and procurement limits set at 1.2 billion and 700 million respectively [1] Group 1 - The agreement will allow Shanghai Pharmaceuticals to sell products to Yunnan Baiyao up to 1.2 billion and purchase products up to 700 million [1] - As of the announcement date, Yunnan Baiyao holds a 17.95% stake in Shanghai Pharmaceuticals, making it the second-largest shareholder [1] - In the first eleven months of 2025, Shanghai Pharmaceuticals reported sales to Yunnan Baiyao amounting to 605 million and purchases totaling 494 million [1]

Core Insights - 2025 marks a pivotal year for China's innovative pharmaceuticals, with a significant increase in international collaborations and licensing agreements, indicating a shift from a pharmaceutical giant to a stronghold in the industry [1][3] - The total amount of outbound licensing agreements exceeded $100 billion, with upfront payments reaching $8.1 billion, showcasing a transition to multi-layered cooperation models [1][3] - China's biopharmaceutical market remains the second largest globally, with innovative drugs accounting for approximately 30% of global research, reflecting a critical leap from following to competing on a global scale [1][3] Internationalization - The internationalization of China's pharmaceutical industry saw explosive growth in 2025, highlighted by a surge in business development (BD) transactions and the popularity of "A+H" listings [3][4] - The total amount of outbound licensing for innovative drugs reached over $100 billion, a 75% increase from 2024, indicating a shift from merely selling products to actively engaging in global markets [3][4] - Notable BD transactions include significant agreements between major Chinese pharmaceutical companies and international firms, such as a $12.5 billion deal between Hengrui Medicine and GSK [3][4] Innovation - In 2025, advancements in cutting-edge technologies such as antibody-drug conjugates (ADC) and dual antibodies have shown promising results in cancer treatment [7][8] - The third-generation ADC technology has become mainstream, with significant efficacy demonstrated in treating solid tumors [7] - The dual antibody sector continues to lead, with Chinese companies achieving remarkable results in clinical trials, such as a 91% improvement in progression-free survival compared to existing treatments [8] Policy Support - The policy support for innovative drugs in China has reached unprecedented levels, with a notable increase in the number of approved innovative drugs [10][11] - The National Medical Products Administration approved 69 innovative drugs in 2025, a 44% increase from the previous year, covering various therapeutic areas [10] - The payment system for innovative drugs has been significantly upgraded, enhancing accessibility and affordability for patients [10][11] Mergers and Acquisitions - The pharmaceutical sector has seen a surge in mergers and acquisitions, with over 400 transactions announced globally, totaling approximately $111 billion, marking a 50% increase from 2024 [13][14] - Domestic mergers also showed strong activity, with significant deals indicating a shift towards quality improvement and resource consolidation among leading companies [13][14] - The trend reflects a transition from scale expansion to enhancing quality and efficiency, with companies focusing on high-value clinical pipelines [14]

Core Viewpoint - Shanghai is actively shaping its "14th Five-Year" development blueprint, focusing on industrial stability and growth, with Shanghai Pharmaceuticals as a key representative in the biopharmaceutical sector, achieving steady operational results despite industry pressures [1][7]. Group 1: Strategic Development - The Shanghai Municipal State-owned Assets Supervision and Administration Commission emphasizes the need for Shanghai Pharmaceuticals to enhance its core competitiveness and strategic capabilities, particularly in the context of innovation drug transformation and localization of imported products [1][7]. - The company is encouraged to strengthen its investment and acquisition strategies, talent incentives, and decision-making efficiency to support the implementation of innovative drug products during the "14th Five-Year" period [1][7]. Group 2: Technological Innovation - Shanghai Pharmaceuticals is urged to leverage artificial intelligence across research, production, and sales to create a comprehensive "smart manufacturing" ecosystem that covers the entire product lifecycle [1][7]. - The company aims to embrace the AI era by developing full-chain application models from healthcare providers to patients, thereby establishing a new ecosystem for smart health services [3][9]. Group 3: Collaborative Ecosystem - The company is positioned as a "chain leader," responsible for fostering a collaborative innovation ecosystem that integrates industry, academia, research, healthcare, and finance [3][9]. - There is a focus on building a synergistic community that gathers industrial resources and promotes collaborative innovation [3][9]. Group 4: Operational Insights - Shanghai Pharmaceuticals is committed to implementing the directives from the municipal government and the State-owned Assets Supervision and Administration Commission, focusing on innovation reforms and steady growth [3][9]. - The company is concentrating on its core areas, particularly in API and formulation development, to solidify its foundational business [3][9].

Core Viewpoint - Shanghai Pharmaceuticals Group Co., Ltd. announced a cash dividend distribution of 0.12 RMB per share for the first half of 2025, approved at the second extraordinary general meeting of shareholders on December 9, 2025 [2][3]. Distribution Plan - The distribution is based on a total share capital of 3,708,361,809 shares, with A-shares accounting for 2,789,289,105 shares, resulting in a total cash dividend payout of approximately 445 million RMB, of which about 335 million RMB is allocated to A-share dividends [4]. - The cash dividend will be distributed to all A-share shareholders registered with China Securities Depository and Clearing Corporation Limited, Shanghai Branch, as of the close of trading on the day before the dividend record date [3][4]. Implementation Details - The cash dividends for A-shares will be distributed through the clearing system of China Securities Depository and Clearing Corporation Limited, with shareholders who have designated trading able to receive their dividends on the payment date [5]. - For shareholders without designated trading, the dividends will be held by China Securities Depository and Clearing Corporation Limited until they complete the necessary trading arrangements [5]. Taxation Information - For individual shareholders holding unrestricted A-shares, the tax treatment varies based on the holding period, with a maximum tax rate of 20% for shares held for one month or less, and a reduced rate of 10% for shares held between one month and one year [9]. - For institutional investors classified as resident enterprises under the Corporate Income Tax Law, they are responsible for their own tax payments, with the actual cash dividend remaining at 0.12 RMB per share [10]. - Qualified Foreign Institutional Investors (QFIIs) will have a withholding tax of 10% applied to their dividends, with provisions for tax treaty benefits available [11].

香港交易及結算所有限公司和香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依賴 該等內容而引致的任何損失承擔任何責任。 上 海 醫 藥 集 團 股 份 有 限 公 司 Shanghai Pharmaceuticals Holding Co., Ltd. * （於中華人民共和國註冊成立的股份有限公司） （股份代碼：02607） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第 13.10B 條而作出。 茲載列上海醫藥集團股份有限公司（「本公司」）在上海證券交易所網站(http://www.sse.com.cn) 刊登的《上海醫藥集團股份有限公司 2025 年半年度權益分派實施公告》僅供參閱。 承董事會命 上海醫藥集團股份有限公司 楊秋華 董事長 中國上海，2025 年 12 月 25 日 於本公告日期，本公司的執行董事為楊秋華先生、沈波先生、李永忠先生及董明 先生；非執行董事為張文學先生；以及獨立非執行董事為顧朝陽先生、霍文遜先 生、王忠先生及萬鈞女士。 * 僅供識別 证券代码：601607 证券简称：上海医 ...

证券代码：601607 证券简称：上海医药 公告编号：临2025-118 上海医药集团股份有限公司 2025年半年度权益分派实施公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 每股分配比例 A 股每股现金红利0.12元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/12/31 | － | 2026/1/5 | 2026/1/5 | 差异化分红送转： 否 一、 通过分配方案的股东会届次和日期 本次利润分配方案经公司2025 年 12 月 9 日的2025年第二次临时股东大会审议通过。 二、 分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分 公司（以下简称"中国结算上海分公司"）登记在册的本公司全体 A 股股东。 H 股 股 东 的 现 金 分 红 有 关 情 况 详 见 本 公 司 在 香 港 联 合 交 易 所 有 限 公 司 网 ...

上海医药公告称，2025年半年度权益分派方案已获2025年第二次临时股东大会审议通过。本次利润分配 以总股本37.08亿股为基数，每股派发现金红利0.12元（含税），共计派发现金红利4.45亿元，其中A股 现金红利3.35亿元。A股股权登记日为2025年12月31日，除权（息）日和现金红利发放日为2026年1月5 日。上海医药集团等4家公司所持A股股份现金红利由公司自行发放，其余A股红利委托中国结算上海分 公司发放。 ...