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。 证券代码：600085 证券简称：同仁堂 公告编号：2024-010 北京同仁堂股份有限公司 关于召开 2023 年年度股东大会的通知 重要内容提示： 一、 召开会议的基本情况 (一) 股东大会类型和届次：2023 年年度股东大会 (四) 现场会议召开的日期、时间和地点 召开的日期时间：2024 年 6 月 14 日 9 点 30 分 召开地点：北京市大兴区中关村科技园区大兴生物医药产业基地天贵大街 33 号北京同仁堂股份有限公司会议室 (五) 网络投票的系统、起止日期和投票时间 网络投票系统：上海证券交易所股东大会网络投票系统 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票 相结合的方式 | 序号 | 议案名称 | | 投票股东类型 | | --- | --- | --- | --- | | | | | A 股股东 | | 非累积投票议案 | | | | | 1 | 《2023 | 年度财务决算报告》 | √ | | 2 | ...

证券代码：600085 证券简称：同仁堂 公告编号：2024-008 北京同仁堂股份有限公司 第九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）第九届董事会第二十七次会议于 2024 年 5 月 24 日在公司会议室以现场会议方式召开。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》（以下简称《公司法》）及《北京同仁堂股份有限公司章程》 （以下简称《公司章程》）的有关规定。 二、 会议审议情况 (一) 审议通过了《关于选举第十届董事会非独立董事的预案》 根据《公司法》《公司章程》等有关规定，公司第九届董事会非独立董事任 期已届三年，2024 年董事会予以换届。经董事会提名委员会事前审查通过，同 意选举邸淑兵先生、王春 ...

证券简称：同仁堂 证券代码：600085 北京同仁堂股份有限公司 投资者关系活动记录表 | --- | --- | --- | |----------|------------------------------|------------------------------------------------------------------| | | | | | | √ 特定对象调研 □ | 分析师会议 | | | □ | 媒体采访 □ 业绩说明会 | | 活动形式 | □ 新闻发布会 □ 路演活动 | | | | √ | 现场参观 □ 一对一沟通 | | | □ 其他方式（ ） | | | 时 间 | 2024 年 5 月 15 日 | | | 地 点 | 北京市大兴区天贵大街 | 33 号北京同仁堂股份有限公司大兴分厂 | | 调研单位 | | 博时基金、淡水泉投资、东北证券、东方证券资管、东方阿尔法基金、富 | | | | 国基金、高毅资产、工银瑞信、工银安盛人寿资管、光大永明资产、广发 | | | | 基金、华泰证券、汇添富基金、汉和资产、惠理基金、华夏久盈、华泰柏 | | | | 瑞、华商基金、 ...

[Table_Title] 证券研究报告 24Q1 利润端稳健增长，持续深化营销改革 公司研究 [Table_ReportDate] 2024年04月30日 [Table_ReportType] 公司点评报告 [T事ab件le：_S同um仁ma堂ry发]布2024年一季报，2024Q1公司实现营收52.67亿元，同 [同Ta仁bl堂e_St（oc6k0A0n0dR8a5n.kS]H） 比增长2.42%，实现归母净利润5.76亿元，同比增长10.04%，实现扣非 投资评级 增持 净利润5.71亿元，同比增长9.98%。 点评： 上次评级 增持 无  24Q1 受高基数影响营收增速放缓，利润端稳健增长。据公司公告， [唐Ta爱b金le_医Au药th行o业r]首席分析师 2024Q1公司实现营收52.67亿元，同比增长2.42%，实现归母净利润 执业编号：S1500523080002 5.76亿元，同比增长10.04%，实现扣非净利润5.71亿元，同比增长 联系电话：19328759065 9.98%。营收增速相对放缓，主要受2023年一季度商业零售等板块营 邮箱：tangaijin@cindasc.com 收大 ...

证券代码：600085 证券简称： 同仁堂 公告编号：2024-007 北京同仁堂股份有限公司 关于控股孙公司获得香港中成药注册证明书的公告 一、 药品基本情况 药品名称：当归补血颗粒【同仁堂】 注册持有人及地址：北京同仁堂国药有限公司，新界大埔工业邨大景街 3 号 注册编号：HKC-18604 证书有效期：至 2029 年 4 月 25 日止 二、 药品的其他相关情况 当归补血颗粒【同仁堂】功能主治为补气生血，用于血虚阳浮发热证。证见 肌热面赤，烦渴欲饮，脉洪大而虚，重按无力。截止本公告日，同仁堂国药就当 归补血颗粒【同仁堂】的研发投入约 80 万元港币（金额未经审计），该产品暂 未投入市场销售。 三、 对公司的影响及风险提示 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。 近日，北京同仁堂股份有限公司（以下简称公司）之控股孙公司北京同仁堂 国药有限公司（以下简称同仁堂国药）收到香港中医药管理委员会签发的《中成 药注册证明书》，准许将"当归补血颗粒【同仁堂】"在香港出售。现将相关情 况公告如下： 2 本次同仁堂国药获得香港中 ...

Financial Performance - The company's operating revenue for Q1 2024 was RMB 5,267,289,154.73, representing a year-on-year increase of 2.42%[5] - The net profit attributable to shareholders for the same period was RMB 575,877,577.58, reflecting a growth of 10.04% compared to the previous year[5] - The basic earnings per share for Q1 2024 was RMB 0.420, which is a 9.95% increase year-on-year[5] - Operating profit for Q1 2024 was RMB 1,029,180,110.63, up from RMB 995,843,502.23 in Q1 2023, reflecting a growth of 3.5%[18] - Net profit for Q1 2024 amounted to RMB 862,533,674.69, compared to RMB 829,317,918.63 in Q1 2023, indicating an increase of 4.0%[18] - The total comprehensive income for Q1 2024 was approximately ¥857.77 million, compared to ¥772.11 million in Q1 2023, indicating an increase of 11%[19] - The net profit attributable to shareholders of the parent company for Q1 2024 was approximately ¥575.88 million, an increase from ¥523.36 million in Q1 2023, representing a growth of 10%[19] Cash Flow and Liquidity - The net cash flow from operating activities decreased significantly by 121.98%, amounting to -RMB 251,766,221.42, primarily due to increased procurement costs[8] - Cash flow from operating activities for Q1 2024 showed a net outflow of approximately ¥251.77 million, a significant decrease from a net inflow of ¥1.15 billion in Q1 2023[20] - Cash received from sales of goods and services in Q1 2024 was approximately ¥5.15 billion, down from ¥5.69 billion in Q1 2023, representing a decline of 9%[20] - The net cash flow from investing activities for Q1 2024 was approximately -¥97.52 million, compared to -¥6.79 million in Q1 2023, indicating a worsening of investment cash flow[20] - The net cash flow from financing activities for Q1 2024 was approximately ¥641.73 million, a turnaround from a net outflow of -¥153.12 million in Q1 2023[21] - The ending balance of cash and cash equivalents as of the end of Q1 2024 was approximately ¥12.30 billion, a decrease from ¥12.57 billion at the end of Q1 2023[21] Assets and Liabilities - Total assets at the end of the reporting period reached RMB 31,253,026,762.50, up 3.87% from the end of the previous year[5] - The total liabilities for Q1 2024 were RMB 9,991,221,785.16, slightly up from RMB 9,832,343,990.70 in Q1 2023, showing an increase of 1.6%[17] - Long-term borrowings increased significantly to RMB 2,229,750,876.39 in Q1 2024, compared to RMB 1,429,750,809.82 in Q1 2023, marking a rise of 56%[17] - The total equity attributable to shareholders increased to RMB 13,580,704,826.05 in Q1 2024 from RMB 13,058,012,147.00 in Q1 2023, reflecting a growth of 4.0%[17] Shareholder Information - The company reported a total of 105,098 common shareholders at the end of the reporting period[9] - The largest shareholder, China Beijing Tongrentang (Group) Co., Ltd., holds 52.45% of the shares[9] - The total number of shares held by the top 10 shareholders did not show any significant changes in the context of margin trading and securities lending[12] Operational Insights - Accounts receivable increased by 60.64% compared to the beginning of the period, attributed to the rolling use of customer credit limits[8] - Inventory levels rose to RMB 9,599,688,227.42, compared to RMB 9,340,164,542.46, marking an increase of around 2.77%[15] - The company reported a decrease in sales expenses to RMB 840,167,231.58 in Q1 2024 from RMB 934,153,949.48 in Q1 2023, indicating a reduction of 10.1%[18] - Research and development expenses for Q1 2024 were RMB 41,579,952.41, a decrease from RMB 45,194,023.47 in Q1 2023, reflecting a reduction of 8.5%[18] Market Outlook - The overall market outlook remains cautiously optimistic, with no specific guidance provided for future performance[14] - The company’s financial health appears stable with no audit opinion issues reported for the quarter[15] - The company has no significant new strategies or product developments mentioned in the report[14] - The report indicates that there are no significant related party transactions among the top shareholders[10]

Investment Rating - The report maintains a "Buy" rating for Tongrentang (600085.SH) [2][8] Core Views - The company achieved steady annual growth in 2023, with total revenue reaching 17.861 billion yuan, a year-on-year increase of 16.19%. The net profit attributable to shareholders was 1.669 billion yuan, up 16.92% year-on-year [5][6] - The pharmaceutical industry showed stable performance, with a continued implementation of the major product strategy, leading to a revenue of 11.079 billion yuan, a 12.60% increase year-on-year [3][6] - The pharmaceutical commercial segment also performed well, generating revenue of 10.246 billion yuan, a 20.82% increase year-on-year, with an expansion of retail stores to 1,001 by the end of 2023 [3][6] Financial Summary - **2023 Financial Performance**: - Total Revenue: 17,861 million yuan, up 16.19% year-on-year - Net Profit: 1,669 million yuan, up 16.92% year-on-year - Cash Flow from Operating Activities: 1,869 million yuan, down 39.58% year-on-year [2][5][6] - **2024-2026 Forecast**: - Expected Revenue: 20,246 million yuan (2024E), 22,920 million yuan (2025E), 25,898 million yuan (2026E) - Expected Net Profit: 1,913 million yuan (2024E), 2,190 million yuan (2025E), 2,504 million yuan (2026E) - Corresponding PE Ratios: 29.41 (2024E), 25.69 (2025E), 22.46 (2026E) [2][8] Product Performance - The top five product series generated revenue of 4.953 billion yuan, a 9.97% increase year-on-year, with a gross margin of 54.82% [3][6] - Revenue from various product categories: - Cardiovascular: 4.388 billion yuan, up 8.02% - Nutritional supplements: 1.730 billion yuan, up 10.41% - Heat-clearing products: 615 million yuan, up 16.10% - Gynecological products: 377 million yuan, up 8.16% - Other categories: 3.970 billion yuan, up 19.12% [3][6] Retail Expansion - The company expanded its retail presence, adding 59 new stores in 2023, with a total of 1,001 retail stores by year-end [3][6]

证券代码：600085 证券简称：同仁堂 公告编号：2024-006 北京同仁堂股份有限公司 关于召开 2023 年年度业绩说明会的公告 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法律责任。 重要内容提示： 二、 说明会召开的时间、地点 投资者可于 2024 年 4 月 22 日 16:00 前将需要了解的情况和有关问题预先通过 电子邮件发送至北京同仁堂股份有限公司（以下简称公司）投资者关系邮箱 （tongrentang@tongrentang.com）。公司将在信息披露允许的范围内，于说明会上 就投资者普遍关注的问题进行回答。 会议召开时间：2024 年 4 月 23 日（星期二）上午 10:00-11:30 会议召开地点：上海证券交易所上证路演中心（https://roadshow.sseinfo.com/） 公司于 2024 年 3 月 29 日披露了《同仁堂 2023 年年度报告》，为便于广大投 资者更全面深入地了解公司 2023 年年度经营成果及财务状况，公司计划于 2024 年 4 月 23 日上午 10:00-11:3 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's 2023 annual performance met expectations, with core products continuing to grow [1] - The company achieved a revenue of 17.861 billion yuan in 2023, representing a year-on-year increase of 16.19% [1] - The net profit attributable to the parent company was 1.669 billion yuan, up 16.92% year-on-year [1] - The company is focusing on product development and innovation, with ongoing research projects and product enhancements [2][3] Financial Summary - The company reported a slight decline in Q4 2023 revenue, which was 4.14 billion yuan, down 7.44% year-on-year [1] - The gross profit margin for the year was 47.29%, a decrease of 1.51 percentage points year-on-year [1] - The net profit margin was 14.46%, an increase of 0.15 percentage points year-on-year [1] - The company plans to achieve revenues of 20.092 billion yuan, 22.355 billion yuan, and 25.615 billion yuan for 2024, 2025, and 2026, respectively, with year-on-year growth rates of 13%, 11%, and 15% [3] - The projected net profit for 2024, 2025, and 2026 is 2.0 billion yuan, 2.363 billion yuan, and 2.784 billion yuan, respectively, with growth rates of 20%, 18%, and 18% [3] Operational Insights - The company is actively exploring new product development and enhancing existing products, focusing on major product lines [2] - The company has established a stable development trajectory for its subsidiaries, with notable revenue growth in its commercial segment [1][2]

[ 2T 0a 2b 4le 年_S 0t 4oc 月kIn 10fo 日] 证券研究报告•2023年年报点评 当前价： 41.55元 同 仁 堂（600085） 医药生物 目标价： ——元（6个月） 大品种战略持续推进，成本上涨影响毛利 投资要点 西南证券研究发展中心 [T ab事le件_S：u公mm司a发ry布] 2023年年报，实现营业收入178.6亿元（+16.19%）；归母净 [分Ta析bl师e_：Au杜th向or阳] 利润16.7亿元（+16.92%），扣非后归母净利润16.6亿元（+18.32%）。 执业证号：S1250520030002  大品种战略持续推进，原材料成本上涨拖累毛利。2023 年医药工业主营收入 电话：021-68416017 110.79亿元，同比增长12.6%。医药商业主营收102.5亿元，同比增长20.8%， 邮箱：duxy@swsc.com.cn 毛利率达到 31%，同比增长 0.2pp。公司持续聚焦大品种战略，前五名系列品 分析师：阮雯 种（安宫、牛黄清心、五子衍宗、六味地黄、金匮肾气）收入49.5亿元，增速 执业证号：S1250522100004 12.6%，占 ...