业绩简评 2024 年 3月 28日，公司发布 2023 年年度报告。2023 年公司实现 收入156.2亿元，同比+10.6%；归母净利润8.2亿元，同比+132.0%； 扣非归母净利润7.7 亿元，同比+111.3%。 单季度看，公司2023 年Q4 实现收入 34.4 亿元，同比-1.6%；归 母净利润 0.64 亿元，同比-35.7%；扣非归母净利润 0.59 亿元， 同比+35.0%。 经营分析 主品放量迅速，医药工业增长态势良好：分板块来看，2023 年公 司医药工业实现收入103.88亿元，同比+19.4%，其中现代中药实 人民币(元) 成交金额(百万元) 现收入66.04 亿元，同比+31.64%；化药实现收入37.84 亿元，同 73.00 1,400 比+2.72%。核心品种中：太极藿香正气口服液实现收入 22.71 亿 66.00 1,200 1,000 元，同比+45%；急支糖浆实现收入8.81 亿元，同比+67%；通天口 59.00 800 52.00 服液实现收入3.16 亿元，同比+10%；鼻窦炎口服液实现收入2.61 600 45.00 400 亿元，同比+22%；复方对乙酰氨 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [2] Core Views - The company has shown stable improvement in operational quality and rapid profit growth, with a projected net profit of 1.09 billion yuan for 2024, reflecting a 33% year-on-year increase [5] - The company is focusing on market expansion for its core products and has adjusted profit forecasts for 2024-2026, with expected earnings per share (EPS) of 1.96, 2.33, and 2.69 yuan respectively [5][8] Financial Performance Summary - In 2023, the company achieved revenue of 15.623 billion yuan, a year-on-year increase of 10.58%, and a net profit of 822 million yuan, up 131.99% [5] - The gross margin for 2023 was 48.6%, an increase of 3.18 percentage points, while the net margin improved to 5.26%, up 2.76 percentage points [5] - The company’s revenue breakdown by segment includes 10.388 billion yuan from pharmaceutical manufacturing (up 19.4%), 7.726 billion yuan from pharmaceutical commerce (down 3.31%), and 1.017 billion yuan from traditional Chinese medicine resources (up 118.6%) [6] Industry and Strategic Developments - The company is advancing its digital transformation and integrating resources across its business segments to enhance operational efficiency [7] - The focus is on deepening brand value in retail and strengthening academic support to boost sales [7]

Investment Rating - The report maintains an "Accumulate" rating for the company [1][2]. Core Insights - The company's revenue for 2023 reached 15.62 billion yuan, a year-on-year increase of 10.58%, with a net profit attributable to shareholders of 0.82 billion yuan, up 131.99% year-on-year [1]. - The pharmaceutical industrial segment saw a revenue increase of 19.40% year-on-year, while the pharmaceutical commercial segment experienced a decline of 3.31% [1]. - The company plans to accelerate its digital transformation in 2024, aiming to build a modern pharmaceutical industrial cluster and enhance its market presence [1][2]. Financial Performance Summary - In 2023, the company achieved a total revenue of 15.62 billion yuan, with a net profit of 0.82 billion yuan, reflecting a significant increase compared to the previous year [1][3]. - The earnings per share (EPS) for 2023 was 1.48 yuan, representing a growth of 131.25% year-on-year [1]. - The projected revenues for 2024, 2025, and 2026 are 17.89 billion yuan, 20.79 billion yuan, and 24.16 billion yuan, respectively, with corresponding net profits of 1.08 billion yuan, 1.34 billion yuan, and 1.61 billion yuan [2][3]. Research and Development - The company has made significant progress in new drug development, with 31 key research projects underway and 21 new drug projects initiated in 2023 [1]. - The company aims to enhance its research capabilities by establishing four manufacturing centers and deepening its research platform [1][2]. Market Strategy - The company plans to integrate its sales channels and expand its supplier network, targeting at least 50 new key suppliers in 2024 [1]. - The focus will also be on expanding the scale of traditional Chinese medicine operations and increasing the production of traditional Chinese medicine pieces [1].

Financial Performance - The company achieved operating revenue of 15.62 billion yuan in 2023, representing a year-on-year increase of 10.58%[24]. - Net profit attributable to shareholders reached 822.12 million yuan, a significant increase of 131.99% compared to the previous year[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 774.45 million yuan, reflecting a year-on-year growth of 111.35%[24]. - Basic earnings per share were 1.48 yuan, up 131.25% from 0.64 yuan in 2022[18]. - The weighted average return on equity increased to 23.82%, compared to 12.15% in the previous year[18]. - The company reported a total revenue of 16,600 million for the year, with a net profit of 1,310.43 million[113]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion yuan, representing a 20% year-over-year growth[116]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion yuan, representing a 15% year-over-year growth[117]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 3.0 CNY per 10 shares to all shareholders, totaling approximately 167.07 million CNY (including tax) based on a total share capital of 556,890,744 shares as of December 31, 2023[4]. - The company has held two shareholder meetings during the reporting period, ensuring equal voting rights for all shareholders[103]. - The company is committed to maintaining the interests of minority shareholders and has made amendments to its articles of association to enhance governance[103]. - The total number of ordinary shareholders as of the end of the reporting period was 26,909, down from 38,422 the previous month[199]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm, ensuring the authenticity and completeness of the financial report[3]. - The company is committed to ensuring the accuracy and completeness of the annual report, with management taking legal responsibility for its content[2]. - The company has not violated any regulatory decision-making procedures for external guarantees[6]. - The company has not reported any significant differences in governance compared to regulations set by the China Securities Regulatory Commission[105]. Risk Management - The company has outlined potential risks and corresponding countermeasures in the annual report management discussion and analysis section[6]. - The company faces significant risks from policy changes in the pharmaceutical industry, including centralized procurement and healthcare reforms, which may impact revenue and profit[101]. - The company is addressing market risks by improving its competitive capabilities and optimizing supply chain management[102]. Research and Development - The company launched 31 key R&D projects in 2023, including 16 traditional Chinese medicine projects, 14 chemical drug projects, and 1 biological drug project[31]. - The company has established strategic partnerships with over 20 universities and research institutions to enhance innovation and R&D capabilities[31]. - The company is focusing on R&D for anti-tumor, cardiovascular, and endocrine system drugs, while managing the risks associated with new drug development[102]. - Research and development expenses surged by 113.52% to approximately ¥233.62 million, compared to ¥109.42 million in the previous year, reflecting a significant increase in R&D investment[39]. Market Expansion and Strategy - The company expanded its international business, entering five new markets including the UAE and Italy, and obtained 21 relevant import/export certificates[27]. - The company aims to enhance its market presence in Southeast Asia, targeting a 20% increase in sales from this region[113]. - The company plans to enhance its digital marketing efforts, with an investment of 101.44 million aimed at increasing online sales channels[113]. - The company plans to establish at least 50 new key supplier partnerships and expand its direct sales pharmacy model by adding no less than 100 new franchise pharmacies in 2024[96]. Corporate Governance - The board of directors consists of 15 members, with 12 external directors and 5 independent directors, ensuring a majority of external and independent oversight[104]. - The company has established a long-term mechanism to prevent the controlling shareholder from occupying the company's funds and harming its interests, with specific provisions in the Articles of Association regarding "occupation equals freezing"[104]. - The company has implemented a communication mechanism with the controlling shareholder to ensure timely information disclosure[104]. Environmental and Social Responsibility - The company invested a total of 4,909,000 CNY in poverty alleviation and rural revitalization projects, benefiting 240,000 people[169]. - The company has established an environmental protection management system and developed emergency response plans for environmental incidents[163]. - The company achieved a reduction of 13,723 tons in carbon dioxide equivalent emissions through various decarbonization measures[164]. Financial Management - The company has established a comprehensive budget management system for subsidiaries, focusing on budget indicators and key tasks for performance evaluation[150]. - The company is committed to strengthening financial management and budget control, focusing on dynamic management and precise quantification of indicators[100]. - The company has implemented changes in accounting policies effective from January 1, 2023, impacting the recognition of deferred tax assets and liabilities[176].

关于本报告 本报告是重庆太极实业（集团）股份有限公司发布的第二份 ESG 报告，本着客观、规范、透明和全面的原则， 详细披露公司 2023 年在积极承担社会责任和促进可持续发展等方面的具体举措、重点实践、亮点案例和关键 绩效，旨在回应利益相关方的期望，未来更好地履行社会责任。 时间范围 本 报 告 涵 盖 期 间 为 2023 年 1 月 1 日 至 12 月 31 日。为增强本报告的对比性和前瞻性，部分 内容适当追溯以往年份。 报告范围 本报告以重庆太极实业（集团）股份有限公司为 主体，包括下属分子公司。除特别说明外，本 报告范围与本公司年报范围保持一致。 编制依据 国务院国有资产监督管理委员会《央企控股上 市公司 ESG 专项报告编制研究》 上海证券交易所《上海证券交易所上市公司自 律监管指引第 1 号—规范运作》《上海证券交 易所上市公司自律监管指引第 14 号—可持续 发展报告（试行）（征求意见稿）》 全球报告倡议组织（GRI）《可持续发展报告标 准（GRI Standards）》 《联合国可持续发展目标》(UN SDGs 2030) 数据来源及可靠性保证 本报告引用的全部信息数据均来自于重庆太极 实 ...

重庆太极实业（集团）股份有限公司 未来三年（2024-2026 年）股东回报规划 为规范和完善重庆太极实业（集团）股份有限公司（以下简称"公司"）科 学、持续、稳定的利润分配政策，保护投资者的合法权益，根据《中华人民共和 国公司法》《关于进一步落实上市公司现金分红有关事项的通知》《上市公司监 管指引第 3 号——上市公司现金分红（2023 年修订）》等法律、法规、规范性文 件及《公司章程》的规定，结合公司实际情况，特制定《重庆太极实业（集团） 股份有限公司未来三年（2024 年—2026 年）股东回报规划》（以下简称"本规 划"），主要内容如下： 一、制定本规划考虑的因素 公司制定本规划，是基于公司长远和可持续发展，综合考虑公司所发展规划、 盈利水平、现金流量状况、资本结构、股东意愿和要求、社会资金成本及外部融 资环境等因素，建立对投资者持续、稳定、科学和透明的回报规划和机制，从而 对利润分配做出的制度性安排，以保证利润分配政策的连续性和稳定性。 二、制订本规划的原则 1.重视对投资者的合理回报，并兼顾公司的可持续发展。 2.在保证公司正常经营发展的前提下，充分考虑公司股东（尤其是中小股 东）、独立董事和监事 ...

东方证券承销保荐有限公司 关于重庆太极实业（集团）股份有限公司 2023 年度募集资金使用与存放情况的核查意见 根据《上市公司监管指引第2号—上市公司募集资金管理和使用的监管要求》、 《上海证券交易所上市公司自律监管指引第1号-规范运作》等相关法规及重庆太 极实业（集团）股份有限公司（以下简称"太极集团"、"上市公司"或"公司"） 《募集资金管理办法》的规定，东方证券承销保荐有限公司（以下简称"东方投 行"、"保荐机构"或"本保荐机构"）作为太极集团2018年非公开发行股票的 保荐机构，对太极集团进行了认真的持续督导，切实履行保荐责任，对公司2023 年度募集资金存放与使用情况进行了认真、审慎的核查，核查的具体情况如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于核准重庆太极实业（集团）股份有限公司 非公开发行股票的批复》（证监许可[2017]1366号）批准，太极集团非公开发行 人民币普通股（A股）129,996,744股，发行价格每股15.36元，募集资金总额为 1,996,749,987.84 元，扣除发行费用 34,350,232.60 元后，募集资金净额为 1,962,399,755.24 ...

证券代码：600129 证券简称：太极集团 公告编号：2024-008 重庆太极实业（集团）股份有限公司 第十届董事会第十九次会议决议公告 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。 重庆太极实业（集团）股份有限公司（以下简称：公司）第十届 董事会第十九次会议于 2024 年 3 月 15 日以邮件方式发出书面通知， 于 2024 年 3 月 26 日以现场及视频方式召开。本次会议由董事长李阳 春先生主持，会议应到董事 15 人，实到董事 15 人，公司监事和高级 管理人员列席了会议。本次会议的召集、召开程序符合《公司法》和 《公司章程》的有关规定，会议合法有效。会议审议并通过了如下议 案： 一、公司《2023 年度董事会工作报告》 表决情况：同意 15 票，弃权 0 票，回避 0 票，反对 0 票；表决 结果：通过。 该议案尚须提交公司股东大会审议。 二、公司《2023 年年度报告及年度报告摘要》（具体内容详见 公司披露的《2023 年年度报告及年度报告摘要》） 该议案已经公司第十届董事会审计委员会第十一次会议审议通 ...

证券代码：600129 证券简称：太极集团 公告编号：2024-011 重庆太极实业（集团）股份有限公司 2023 年度计提资产减值准备的公告 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。 重庆太极实业（集团）股份有限公司（以下简称"公司"）第十 届董事会第十九次会议、第十届监事会第十六次会议审议通过了《关 于 2023 年度计提资产减值准备的议案》。现将具体情况公告如下： 一、本次计提减值准备的情况概述 为真实、客观、公允地反映公司 2023 年度的财务状况和经营成 果，按照《企业会计准则》等相关规定，基于谨慎性原则，公司于年 末对可能出现减值迹象的相关资产进行了检查和减值测试，2023 年度 计提资产减值准备和信用减值准备 10,024.25 万元。具体详见下表： 单位：万元 | 项 目 | | 计提减值准备金额 | | | --- | --- | --- | --- | | 资产减值损失 | | | 9,944.75 | | 信用减值损失 | | | 79.50 | | 合 | 计 | | 10,024.25 | 二 ...

公司代码：600129 公司简称：太极集团 重庆太极实业（集团）股份有限公司 2023 年度内部控制评价报告 重庆太极实业（集团）股份有限公司全体股东： 根据《企业内部控制基本规范》及其配套指引的规定和其他内部控制监管要求（以下简称企业内部 控制规范体系），结合本公司（以下简称公司）内部控制制度和评价办法，在内部控制日常监督和专项 监督的基础上，我们对公司2023年12月31日（内部控制评价报告基准日）的内部控制有效性进行了评价。 一. 重要声明 按照企业内部控制规范体系的规定，建立健全和有效实施内部控制，评价其有效性，并如实披露内 部控制评价报告是公司董事会的责任。监事会对董事会建立和实施内部控制进行监督。经理层负责组织 领导企业内部控制的日常运行。公司董事会、监事会及董事、监事、高级管理人员保证本报告内容不存 在任何虚假记载、误导性陈述或重大遗漏，并对报告内容的真实性、准确性和完整性承担个别及连带法 律责任。 公司内部控制的目标是合理保证经营管理合法合规、资产安全、财务报告及相关信息真实完整，提 高经营效率和效果，促进实现发展战略。由于内部控制存在的固有局限性，故仅能为实现上述目标提供 合理保证。此外，由 ...