北京同仁堂股份有限公司 2024年第二次临时股东大会会议资料 北京同仁堂股份有限公司 北京同仁堂股份有限公司 2024 年第二次临时股东大会会议资料 北京同仁堂股份有限公司 2024 年第二次临时股东大会注意事项 2024 年第二次临时股东大会 会议资料 二零二四年十一月 1 北京同仁堂股份有限公司 2024年第二次临时股东大会会议资料 目 录 | 一、2024 年第二次临时股东大会注意事项 3 | | --- | | 二、2024 年第二次临时股东大会会议议程 4 | | 三、2024 年第二次临时股东大会文件 5 | | 1. 关于变更 2024 年度会计师事务所及决定其报酬的议案 5 | 2 四、 股东参加股东大会，应当认真履行其法定义务，尊重和维护其他股东合 法权益，保障股东大会的正常秩序。如存在干扰股东大会、寻衅滋事和侵犯其他股 东合法权益的行为，会议主持人或公司工作人员有权根据《上市公司股东大会规则》 的规定采取必要措施予以制止。 五、 股东大会召开期间，请参会人员将手机等通讯工具关闭或置于静音状态， 自觉遵守会场秩序。 3 北京同仁堂股份有限公司 2024 年第二次临时股东大会会议资料 北京同仁 ...

证券代码：600085 证券简称：同仁堂 公告编号：2024-028 北京同仁堂股份有限公司 对外投资公告 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。 注释： | 本公司、公司 | 指 | 北京同仁堂股份有限公司 | | --- | --- | --- | | 同仁堂商业 | 指 | 北京同仁堂商业投资集团有限公司 | | 红惠医药 | 指 | 红惠医药有限公司 | | 红惠集团公司 | 指 | 红惠医药有限公司及其子公司 | | 红惠科技 | 指 | 红惠（北京）科技有限公司 | | 道培宏德 | 指 | 北京道培宏德医疗投资有限公司 | | 《股权转让协议》、本 协议 | 指 | 《关于红惠医药有限公司之股权转让协议》 | | 《审计报告》 | 指 | 《红惠医药有限公司审计报告》（大信审字[2024] | | | 第 | 2-00870 号） | | 《资产评估报告》 | 指 | 《北京同仁堂商业投资集团有限公司拟收购红惠 医药有限公司部分股权所涉及的该公司股东全部 权益价值评估项目评估报告》（国融兴华评报字 | | ...

证券代码：600085 证券简称：同仁堂 公告编号：2024-026 北京同仁堂股份有限公司 第十届董事会第三次会议决议公告 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）第十届董事会第三次会议于 2024 年 10 月 29 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 年第三季度报告》 董事会认为，公司 2024 年第三季度报告内容真实、准确、完整地反映了 2024 年第三季度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。 表决结果：同意 11 票，反对 0 票，弃权 0 票。 该项议案已经公司 ...

Group 1: Company Strategy and Structure - Tong Ren Tang focuses on specialized divisions to enhance operational efficiency and market competitiveness, with a clear division of business segments [2] - The company integrates resources across subsidiaries to promote coordinated development and scale effects for sustainable growth [2] Group 2: Product Development and Market Expansion - The "Yu Yao Legend" product series has been gradually launched since last year, with initial trials in nearly 100 stores to assess market demand [3] - The top five product series reported a stable revenue growth of 4.18% year-on-year, driven by a strategy focusing on major product categories and market demand [3] Group 3: Retail and Distribution Strategy - In the first half of the year, the commercial company opened 116 new stores, emphasizing a balanced approach to store expansion and resource optimization [3] - The company plans to enhance its retail network by establishing a comprehensive distribution system and coordinating various retail and medical endpoints [3] Group 4: Financial Performance and Dividends - Since its listing in 1997, the company has implemented cash dividends 29 times, totaling 7.261 billion CNY, with a commitment to reasonable returns for investors [5] - Future dividend plans will be aligned with operational needs and financial strategies to maximize shareholder value [5] Group 5: Challenges and Future Measures - The company faced performance pressure in the first half of the year due to the overall consumption environment in Hong Kong and Macau [4] - To improve performance in the second half, the company will focus on precise store locations, new marketing models, and expanding product lines [4]

证券代码：600085 证券简称：同仁堂 公告编号：2024-025 北京同仁堂股份有限公司 2024 年半年度权益分派实施公告 1. 发放年度：2024 年半年度 2. 分派对象： 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）登记在册的公司全体股东。 3. 分配方案： 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： | 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 | 2024/10/9 | － | 2024/10/10 | 2024/10/10 | 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 9 月 18 日的 2024 年第一次临时股东大会审议通过。 二、 分配方案 本次利润分配以方案实施前的公司总股本 1,371,470,262 股为基数， ...

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].