证券代码：600085 证券简称：同仁堂 公告编号：2024-024 北京同仁堂股份有限公司 2024 年第一次临时股东大会决议公告 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法律责任。 重要内容提示： 本次会议是否有否决议案：无 | 1、出席会议的股东和代理人人数 | 1,142 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 736,755,518 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 53.7201 | | 份总数的比例（%） | | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会由公司董事会召集，董事长邸淑兵先生主持。会议采用现场投 票和网络投票相结合的表决方式进行表决。会议的召集、召开和表决符合相关法 律法规及《北京同仁堂股份有限公司章程》的规定。 一、 会议召开和出席情况 (一) 股东大会召开的时间：2024 年 9 月 18 日 (二) 股东大会召开的地点：北京市东城区崇外大街 42 号同仁堂大厦 5 层会议 室 ...

北 京 大 成 律 师 事 务 所 关 于 北 京 同 仁 堂 股 份 有 限 公 司 2024 年 第 一 次 临 时 股 东 大 会 的 法 律 意 见 书 大成证字[2024]第 185 号 北 京 大 成 律 师 事 务 所 本所声明：本所律师仅对本次股东大会的召集程序、召开程序、出席会议人员资 格、召集人资格、表决程序及表决结果发表法律意见，并不对本次股东大会所审议的 议案、议案所涉及的数字及内容发表意见。本所律师同意将本法律意见书随本次股东 大会其他信息披露资料一并公告。 本法律意见书仅供见证公司本次股东大会相关事项的合法性之目的使用，不得 用作任何其他目的。 本所及经办律师依据《证券法》《律师事务所从事证券法律业务管理办法》和 《律师事务所证券法律业务执业规则（试行）》等规定及本法律意见书出具日以前 已经发生或者存在的事实，严格履行了法定职责，遵循了勤勉尽责和诚实信用原则， 进行了充分的核查验证，保证本法律意见所认定的事实真实、准确、完整，所发表 的结论性意见合法、准确，不存在虚假记载、误导性陈述或者重大遗漏，并承担相 应法律责任。 www.dentons.cn 北京市朝阳区朝阳门南大街 10 ...

Investment Rating - The report maintains a rating of "Accumulate" for the company [2] Core Views - The company achieved stable growth under a high base, with a mid-term dividend exceeding expectations [2] - The first half of 2024 saw revenue and net profit growth of 0.02% and 3.49% year-on-year, respectively, with operating cash flow significantly declining due to increased raw material costs [2] - The company continues to implement a large product strategy, with the top five products generating revenue of 3.047 billion yuan, accounting for 47.08% of the pharmaceutical industrial revenue [2] Summary by Sections Financial Performance - For the first half of 2024, the company reported revenues of 976.3 million yuan and a net profit of 102.1 million yuan, with a basic EPS of 0.74 yuan [2] - The second quarter of 2024 showed a slight decline in revenue and profit, attributed to challenges faced by Tongrentang Guoyao [2] - The company's gross margin decreased by 2.21 percentage points to 43.90%, while the net profit margin increased by 0.35 percentage points to 10.46% [2] Business Segmentation - The pharmaceutical industry and commercial segments achieved revenues of 647.2 million yuan and 603.0 million yuan, respectively, with year-on-year growth of 5.30% and 8.94% [2] - The parent company's revenue and net profit grew by 20.56% and 13.20% year-on-year, respectively, reflecting the successful implementation of the "Tongrentang Service Year" strategy [2] Cost and Efficiency Management - The company has enhanced cost control measures, resulting in a reduction in sales, management, and R&D expense ratios [2] - The accounts receivable turnover days improved by 1.43 days to 23.21 days, indicating better operational efficiency [2] Profit Forecast and Valuation - The profit forecasts for 2024-2026 have been adjusted downwards to 1.850 billion yuan, 2.082 billion yuan, and 2.395 billion yuan, reflecting a decrease of 6%, 9%, and 11% from previous estimates [2] - The current price corresponds to a PE ratio of 26, 23, and 20 for the respective years, indicating a valuation at historically low levels [2]

Investment Rating - The investment rating for Tong Ren Tang (600085) is not explicitly stated in the report, but it suggests continuous attention due to its position as a leader in non-prescription traditional Chinese medicine [4][7]. Core Insights - The company reported a stable performance in H1 2024, with revenue reaching 9.763 billion yuan, a slight increase of 0.02% year-on-year, and a net profit attributable to shareholders of 1.021 billion yuan, up 3.49% year-on-year [6][7]. - The pharmaceutical manufacturing and commercial segments both showed slight growth, with the pharmaceutical manufacturing segment achieving revenue of 6.472 billion yuan, a year-on-year increase of 5.30% [6][7]. - The gross margin decreased to 43.90%, primarily due to rising prices of traditional Chinese medicinal materials, while the company successfully optimized its expense ratios [6][7]. Financial Performance Summary - In H1 2024, the company achieved a revenue of 9.763 billion yuan, with a net profit of 1.021 billion yuan and a non-recurring net profit of 0.992 billion yuan [6]. - For Q2 2024, revenue was 4.496 billion yuan, a decrease of 2.64% year-on-year, with a net profit of 0.445 billion yuan, down 3.90% year-on-year [6]. - The pharmaceutical manufacturing segment's revenue was 6.472 billion yuan, with a gross margin of 41.39%, while the commercial segment's revenue was 6.030 billion yuan, with a gross margin of 26.67% [6]. Future Earnings Forecast - The company is expected to achieve revenues of 20.770 billion yuan, 23.753 billion yuan, and 27.107 billion yuan for 2024, 2025, and 2026 respectively, with year-on-year growth rates of 16.29%, 14.36%, and 14.12% [7][8]. - The net profit attributable to shareholders is projected to be 1.902 billion yuan, 2.255 billion yuan, and 2.639 billion yuan for the same years, with growth rates of 13.98%, 18.57%, and 17.01% respectively [7][8].

Investment Rating - The investment rating for Tongrentang is maintained at "Buy - A" with a 6-month target price of 43.75 CNY, corresponding to a dynamic PE of 35 times for 2024 [4]. Core Views - The overall performance of the company is stable, with revenue and net profit showing slight growth in the first half of 2024. However, there are pressures on the cost side that are expected to ease [2][9]. - The company is implementing a "Boutique Strategy" and a "Big Product Strategy" to enhance its core competitiveness, focusing on product tier construction and targeted marketing [7]. Summary by Sections Financial Performance - In H1 2024, the company achieved revenue of 9.763 billion CNY, a year-on-year increase of 0.02%, and a net profit of 1.021 billion CNY, up 3.49% year-on-year. The second quarter saw a revenue decline of 2.64% and a net profit decline of 3.90% [1][2]. - The pharmaceutical manufacturing segment reported revenue of 6.472 billion CNY, a growth of 5.30%, while the pharmaceutical commercial segment saw revenue of 6.030 billion CNY, an increase of 8.94% [2]. Business Segment Performance - Tongrentang Co., Ltd. (the parent company) performed well with a revenue of 2.605 billion CNY, up 20.56%, and a net profit of 889 million CNY, up 13.20% [3]. - Tongrentang Guoyao Co. experienced a revenue decline of 16.36% to 605 million CNY, primarily due to decreased sales in Hong Kong and Macau [3]. - The commercial company reported a slight revenue increase of 0.75% to 5.626 billion CNY, with a net profit growth of 7.84% [3]. Cost and Margin Analysis - The company faced significant cost pressures, with a gross margin decline in the pharmaceutical manufacturing segment to 41.39%, down 3.53 percentage points year-on-year, attributed to rising prices of raw materials like natural bezoar [2][8]. - The gross margin for the top five product series decreased to 48.08%, down 8.49 percentage points, mainly due to increased costs of key raw materials [2]. Future Projections - Revenue projections for 2024-2026 are estimated at 18.704 billion CNY, 20.988 billion CNY, and 23.565 billion CNY, with corresponding net profits of 1.708 billion CNY, 2.048 billion CNY, and 2.471 billion CNY [9][10]. - The company is expected to maintain a PE ratio of 28.2, 23.6, and 19.5 for the respective years [9].

Financial Performance - The company achieved a total operating revenue of CNY 9,762,982,448.54 in the first half of 2024, a slight increase of 0.02% compared to CNY 9,760,696,245.05 in the same period last year[15]. - The net profit attributable to shareholders of the listed company reached CNY 1,020,966,055.46, representing a year-on-year growth of 3.49% from CNY 986,526,289.49[15]. - The net profit after deducting non-recurring gains and losses was CNY 992,243,703.57, which is an increase of 1.35% compared to CNY 979,030,353.48 in the previous year[15]. - The basic earnings per share for the reporting period were CNY 0.744, up 3.48% from CNY 0.719 in the previous year[16]. - The company's total comprehensive income for the first half of 2024 was CNY 1,536,500,173.10, down from CNY 1,657,262,716.38, reflecting a decrease of 7.3%[104]. - The total profit for the first half of 2024 was ¥1,873,495,117.94, compared to ¥1,864,010,649.65 in the same period last year, showing a slight increase of 0.7%[104]. Cash Flow and Assets - The net cash flow from operating activities significantly decreased to CNY 14,752,648.20, down 99.38% from CNY 2,366,775,898.08 in the same period last year[15]. - The company's cash and cash equivalents at the end of the reporting period amounted to CNY 70,298,308.79, with certain amounts restricted due to guarantees[40]. - The cash and cash equivalents decreased to CNY 11,455,007,036.74 from CNY 12,131,896,561.98, representing a decline of about 5.57%[95]. - The total assets of the company at the end of the reporting period were CNY 31,326,097,850.40, reflecting a 4.11% increase from CNY 30,089,450,163.66 at the end of the previous year[15]. - The total liabilities reached CNY 10.42 billion, up from CNY 9.83 billion, indicating a growth of 6.0%[98]. - The total current assets amounted to CNY 24,254,210,609.56, an increase from CNY 23,361,225,804.93 as of December 31, 2023, reflecting a growth of approximately 3.83%[95]. Investments and R&D - The company is increasing its R&D investment, focusing on new product development and key process innovations, and aims to establish an innovation ecosystem[29]. - Research and development expenses for the first half of 2024 were CNY 92,300,112.13, down from CNY 101,573,460.06 in the previous year[102]. - The company has received a patent for a device related to the production of large honey pills, showcasing its commitment to technological advancement[29]. - The investment income surged significantly due to the revaluation of remaining equity stakes after losing control over a subsidiary, leading to increased investment returns[38]. Market Strategy and Operations - The company is focusing on the implementation of a premium strategy and a large variety strategy to enhance core competitive advantages, aiming to increase customer satisfaction and market scale[27]. - The company is enhancing its retail terminal operations through a store image upgrade and professional service improvements, aiming to increase market competitiveness and sales contribution from premium products[28]. - The company is expanding its medical market development by forming specialized teams and exploring new marketing models to improve sales effectiveness[29]. - The company is focusing on international market expansion through tailored marketing strategies that align with local consumer cultures and shopping habits[52]. Environmental and Safety Management - The company reported a total wastewater discharge of 170,600 tons, with COD emissions of 9.69 tons and no exceedances of discharge standards[61]. - The company has established a carbon reduction action plan and is promoting the construction of photovoltaic power generation projects[71]. - The company has conducted clean production training and is advancing clean production initiatives in its pharmaceutical plants[69]. - The company is committed to safety management by implementing comprehensive safety responsibility measures and conducting safety assessments for construction projects[31]. Shareholder Information - The largest shareholder, China Beijing Tongrentang (Group) Co., Ltd., holds 719,308,540 shares, representing 52.45% of the total shares[87]. - The total number of ordinary shareholders as of the end of the reporting period was 111,108[86]. - The company has a diverse shareholder base, including state-owned entities and various investment funds[87]. - The report indicates that there are no related party relationships or concerted actions among the top ten shareholders[88]. Accounting and Financial Policies - The company adheres to the accounting standards set by the Ministry of Finance, ensuring the financial statements reflect a true and complete picture of its financial status[124]. - The company’s financial statements are prepared based on the principle of going concern[122]. - The company recognizes revenue when control of goods or services is transferred to the customer, either at a point in time or over time based on performance obligations[181]. - The company applies specific criteria for lease modifications, treating them as separate leases if they expand the scope and the consideration is adjusted accordingly[191].

证券代码：600085 证券简称：同仁堂 公告编号：2024-019 北京同仁堂股份有限公司 第十届董事会第二次会议决议公告 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法律责任。 一、 会议召开情况 北京同仁堂股份有限公司（以下简称公司）第十届董事会第二次会议于 2024 年 8 月 30 日在公司会议室以现场结合通讯会议方式召开。本次会议通知已提前送 达全体董事，与会各位董事均已知悉与本次会议所议事项的相关必要信息。本次 董事会会议应出席董事 11 人，实际出席 11 人。公司全体监事及部分高级管理人 员列席了本次会议。会议由董事长邸淑兵先生主持，会议的召开和表决程序符合 《中华人民共和国公司法》及《北京同仁堂股份有限公司章程》的有关规定。 二、 会议审议情况 (一) 审议通过了《2024 年半年度报告全文及其摘要》 董事会认为，公司 2024 年半年度报告全文及摘要内容真实、准确、完整地反 映了 2024 年上半年经营成果和财务状况，不存在虚假记载、误导性陈述或重大遗 漏。 该议案已经公司第十届董事会审计委员会 2024 年第二 ...

北京同仁堂股份有限公司 2024年第一次临时股东大会会议资料 北京同仁堂股份有限公司 二零二四年八月 1 2024 年第一次临时股东大会 会议资料 | 一、2024 | 年第一次临时股东大会注意事项 3 | | --- | --- | | 二、2024 | 年第一次临时股东大会会议议程 4 | | 三、2024 | 年第一次临时股东大会文件 5 | | 1. 2024 | 年半年度利润分配方案 5 | 北京同仁堂股份有限公司 2024 年第一次临时股东大会会议资料 北京同仁堂股份有限公司 2024 年第一次临时股东大会注意事项 尊敬的各位股东及股东代表： 根据《中华人民共和国公司法》《中华人民共和国证券法》、中国证券监督管理 委员会《上市公司股东大会规则》和《北京同仁堂股份有限公司章程》等有关规定， 为保障北京同仁堂股份有限公司（以下简称公司）股东大会的公平性和严肃性，敬 请各位计划参加公司 2024 年第一次临时股东大会的股东及股东代表注意以下事项： 一、 为确认出席大会的股东及股东代表或其他出席者的出席资格，会议工作 人员将对出席会议者的身份进行必要的核对，请予配合。 二、 股东及股东代表应于会议开始前入 ...

Group 1: Business Operations and Marketing Strategies - The company has implemented marketing reforms to enhance operational quality, focusing on large product strategies and premium strategies to create precise marketing "explosion points" [1] - The company has selected over 50 key potential products for resource allocation in production, supply, research, and marketing [2] - The overall business operations are stable, and the marketing reforms have met expectations [1] Group 2: Product Development and Quality Management - The company is committed to modernizing traditional Chinese medicine and has several new product development projects each year [3] - The company conducts secondary development on existing products to improve market share and sales volume [3] - Quality management systems are being strengthened to ensure high product standards and effective quality control [3] Group 3: Market Challenges and Responses - Rising costs of medicinal materials due to environmental factors and regulations are being addressed through procurement reforms and partnerships with large planting bases [4] - The company is exploring the impact of imported natural products on cost pressures, but the effectiveness of such policies remains uncertain [4] - The company is closely monitoring the fluctuations in medicinal material prices to optimize procurement strategies [4] Group 4: Internationalization and Market Expansion - The company is enhancing its international presence by adapting marketing strategies to local cultures and shopping habits [5] - Efforts are being made to transform overseas stores into experiential service centers, particularly in key markets like Hong Kong and Macau [5] - The company aims to accelerate the internationalization of traditional Chinese medicine, leveraging global market opportunities [5]

证券代码：600085 证券简称：同仁堂 公告编号：2024-018 北京同仁堂股份有限公司 2023 年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 0.5 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 | 2024/6/27 | － | 2024/6/28 | 2024/6/28 | 差异化分红送转： 否 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经北京同仁堂股份有限公司（以下简称公司）2024 年 6 月 14 日的 2023 年年度股东大会审议通过。 二、 分配方案 1. 发放年度：2023 年年度 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股东。 3. 分配方案： 本次利润分配以方案实施前的公司总股本 1,371, ...