证券代码：600329 证券简称：达仁堂 编号：临 2025-011 号 津药达仁堂集团股份有限公司 关于为关联方提供担保的公告 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： 一、担保情况的概述 （一）本次担保的基本情况 公司分别于 2024 年 9 月 10 日召开 2024 年第五次董事会、2024 年 10 月 29 日召开 2024 年第一次临时股东大会，审议通过了"关于 公司对津药太平医药有限公司增资暨签订《津药达仁堂集团股份有限 公司对津药太平医药有限公司的增资协议》的关联交易议案"（以下 简称"增资项目"），即：公司以所属全资子公司医药公司的全部股权 作价，以增资形式装入公司控股股东天津市医药集团有限公司（以下 简称"医药集团"）所属全资子公司太平公司，并签署《津药达仁堂 1 被担保人：津药太平医药有限公司（以下简称"太平公司"）与天津中 新医药有限公司（以下简称"医药公司"），均为公司的关联人。 本次担保金额及已实际为其提供的担保余额：公司按直接持有太平公司 43.35%股权计算，提供 16. ...

证券代码：600329 证券简称：达仁堂 公告编号：2025-012 号 津药达仁堂集团股份有限公司 召开的日期时间：2025 年 5 月 15 日 13 点 30 分 召开地点：中国天津市南开区白堤路 17 号达仁堂大厦会议室 (五) 网络投票的系统、起止日期和投票时间。 股东大会召开日期：2025年5月15日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 关于召开 2024 年年度股东大会的通知 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： 一、 召开会议的基本情况 (一) 股东大会类型和届次 2024 年年度股东大会 (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 (四) 现场会议召开的日期、时间和地点 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2025 年 5 月 15 日 至 2025 年 5 月 15 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会 ...

一、审议通过了公司 2024 年度监事会工作报告。 津药达仁堂集团股份有限公司 2025 年第一次监事会决议公告 本公司监事会及全体监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任。 公司于 2025 年 3 月 28 日以通讯方式召开 2025 年第一次监事会 会议，会议应到监事 3 名，实到监事 3 名。本次会议召开符合公司章 程的有关规定，经与会监事认真审议，形成如下决议： 证券代码：600329 证券简称：达仁堂 编号：临 2025-005 号 表决结果：同意 3 票，反对 0 票，弃权 0 票 二、审核公司 2024 年度年报及摘要无误，并发表审核意见如下： 1、公司 2024 年度报告的编制和审议程序符合法律、法规、公司 章程和公司内部管理制度的各项规定； 2、公司年报的内容和格式符合中国证监会和证券交易所的各项 规定，所包含的信息从各个方面真实地反映出公司当年度的经营管理 和财务状况等事项； 3、在提出本意见前，没有发现参与年报编制和审议的人员有违 反保密规定的行为。 表决结果：同意 3 票，反对 0 票，弃权 0 票 三、审核公司 ...

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：600329 证券简称：达仁堂 编号：临 2025-004 号 津药达仁堂集团股份有限公司 2025 年第一次董事会决议公告 津药达仁堂集团股份有限公司于 2025 年 3 月 28 日以现场与通讯 相结合的方式召开了 2025 年第一次董事会会议。本次会议应参加董 事 9 人，实参加董事 9 人。会议召开符合《公司法》、《证券法》和《公 司章程》有关召开董事会会议的规定。会议形成如下决议： 一、审议通过了 2024 年度董事长工作报告； 表决结果：同意 9 票，反对 0 票，弃权 0 票 二、审议通过了 2024 年度董事会报告； 表决结果：同意 9 票，反对 0 票，弃权 0 票 三、审议通过了公司 2024 年中国准则、国际准则年度报告及年 报摘要； 据本公司董事会全体成员及管理层所知，没有任何其他信息将致 使该报告不确实或具有误导性。 本议案已经公司董事会审计委员会审议通过。 表决结果：同意 9 票，反对 0 票，弃权 0 票 四、审议通过了公司 2024 年度 ...

证券代码：600329 证券简称：达仁堂 编号：临 2025-006 号 津药达仁堂集团股份有限公司 2024 年度利润分配预案的公告 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： 一、利润分配预案内容 （一）利润分配预案的具体内容 经中审华会计师事务所审计（中国准则），本公司 2024 年度实现 净利润按中国会计准则核算为 2,060,471,830.44 元，公司年初累计未 分配利润 4,425,458,181.66 元，2024 年年度实施利润分配共计分配股 利 985,578,873.28 元。至此，本年累计可供全体股东分配的利润为 5,500,351,138.82 元。 2024 年度末，公司拟进行利润分配，具体利润分配方案为："以 实施权益派息股权登记日总股本为基数，向全体股东每 10 股派发现 金红利 12.80 元人民币（含税）"。截至 2024 年 12 月 31 日，公司 总股本 770,158,276 股（其中，A 股 570,158,276 股，S 股 200,000,000 股），以 ...

Financial Performance - The company reported a basic earnings per share of 2.90 yuan for 2024, a significant increase of 126.56% compared to 1.28 yuan in 2023 [1] - Net profit for 2024 reached 22.29 billion yuan, up 125.84% from 9.87 billion yuan in the previous year [1] - Operating revenue decreased to 73.07 billion yuan, down 11.13% from 82.22 billion yuan in 2023 [1] - The return on equity (ROE) improved to 30.51%, a 102.59% increase from 15.06% in 2023 [1] Shareholder Structure - The top ten unrestricted shareholders collectively hold 48,220.72 million shares, accounting for 62.86% of the circulating shares, with a decrease of 416.32 million shares compared to the previous period [1] - Tianjin Pharmaceutical Group Co., Ltd. remains the largest shareholder with 33,112.05 million shares, representing 43.17% of total share capital [2] - ABN AMRO CLEARING BANK N.V. increased its holdings by 37.12 million shares, now holding 7,324.99 million shares, which is 9.55% of total share capital [2] Dividend Distribution - The company announced a dividend distribution plan of 10 shares for every 12.8 yuan (including tax) [2]

Financial Performance - The company achieved a net profit of ¥2,060,471,830.44 for the fiscal year 2024, with a cumulative distributable profit of ¥5,500,351,138.82 for all shareholders[6]. - Total revenue for 2024 was ¥7,306,736,058.69, representing a decrease of 11.14% compared to ¥8,222,311,849.05 in 2023[24]. - The net profit attributable to shareholders increased by 125.94% to ¥2,229,334,236.14 from ¥986,707,377.83 in the previous year[24]. - The company reported a basic earnings per share of ¥2.90, up 126.56% from ¥1.28 in 2023[26]. - The total assets of the company at the end of 2024 were ¥10,768,625,044.29, an increase of 5.26% from ¥10,230,100,940.68 in 2023[25]. - The operating cash flow net amount for 2024 was ¥924,672,004.13, reflecting a 34.30% increase from ¥688,487,880.39 in 2023[24]. - The weighted average return on equity increased to 30.51% in 2024, up from 15.06% in 2023, representing an increase of 15.45 percentage points[26]. - The company reported a decrease of 21.62% in net profit attributable to shareholders after deducting non-recurring gains and losses, amounting to ¥746,374,980.19[24]. - The company recognized non-recurring gains of approximately 1.71 billion RMB from the disposal of non-current assets in 2024[31]. - The company reported a net cash flow from operating activities of 357.06 million RMB in the fourth quarter[29]. Revenue and Sales - The company's industrial revenue reached 4.49 billion RMB, a year-on-year decrease of 8.9%, with 13 key products generating 3.56 billion RMB, accounting for 79% of total revenue[35]. - The sales revenue of the company's flagship product, Su Xiao Jiu Xin Wan, was 1.98 billion RMB, while Qing Yan Di Wan sales exceeded 350 million RMB, marking a 61% year-on-year growth[35]. - The commercial business revenue for 2024 was reported at 3.11 billion RMB, a decline of 17.3% compared to the previous year[34]. - The total revenue for the first quarter was 2.09 billion RMB, with a net profit of 387.33 million RMB[29]. - Revenue from traditional Chinese medicine amounted to approximately 5.66 billion, with a gross margin of 58.23%, a decrease of 5.25% year-over-year[64]. Research and Development - The company launched 10 new products and completed 22 major product developments in 2024, achieving an 80% completion rate for project milestones[41]. - The company’s R&D expenses amounted to CNY 162,378.23 million, a decrease of 12.05% compared to the previous year[60]. - The company has a product portfolio of 599 approved drug varieties, including 122 exclusive production licenses and 279 products listed in the national medical insurance directory[56]. - The company is actively pursuing research and development initiatives to enhance its product offerings in the healthcare market[92]. - The company has established a KOL expert system with over 300 experts across various medical fields[40]. Market and Brand Development - The company established a brand and market center in August 2024 to enhance brand value and implement five key brand projects[36]. - The company’s e-commerce business grew by 53% year-on-year, surpassing 60 million yuan in 2024[40]. - The company completed 149 product bids across 34 provinces, with 6 new varieties included in 15 national and provincial guidelines[40]. - The company aims to enhance its market position as an innovative leader in traditional Chinese medicine, focusing on innovation, brand strength, and product quality[100]. - The company is committed to the modernization of traditional Chinese medicine, emphasizing the integration of scientific advancements and international standards[128]. Corporate Governance - The company held 1 annual general meeting and 3 extraordinary general meetings during the reporting period, ensuring compliance with regulations to protect shareholders' rights[151]. - The board of directors convened 9 meetings, with independent directors actively participating in committees, ensuring governance integrity[152]. - The supervisory board met 6 times, effectively overseeing the company's financial compliance and management responsibilities[153]. - The company ensures strict adherence to information disclosure regulations, maintaining transparency in its operations[153]. - The company has established comprehensive internal control management systems in line with regulatory requirements[153]. Financial Management and Dividends - The company plans to distribute a cash dividend of ¥12.80 per 10 shares (including tax) to all shareholders[6]. - The total cash dividend amount for 2023 is approximately 985.8 million RMB, which accounts for 44.22% of the net profit attributable to ordinary shareholders in the consolidated financial statements[188]. - The company has established a shareholder return plan for 2023-2025, which was approved at the 2022 annual general meeting[184]. - The company has a history of revising its cash dividend policy in accordance with regulations from the China Securities Regulatory Commission[184]. - The company’s cash dividend policy has been reviewed and approved by independent directors, ensuring the protection of minority shareholders' rights[186]. Strategic Initiatives - The company is focusing on adapting to industry changes driven by regulatory quality requirements and market innovations, which will be crucial for maintaining competitive advantage[86]. - The company is actively pursuing partnerships to bolster its research and development capabilities in biopharmaceuticals[161]. - The company is exploring potential mergers and acquisitions to bolster its market position and product portfolio[91]. - The company is advancing strategic large product development projects and accelerating the establishment of a modern patch preparation platform[138]. - The company is embracing digital transformation by promoting the use of AI tools and optimizing end-to-end processes with a customer-centric approach[140]. Challenges and Risks - The company is facing risks from strict regulatory policies in the pharmaceutical industry, including the normalization of centralized procurement and price governance policies[143]. - The company is experiencing rising raw material prices, with the Chinese herbal medicine price index increasing from 1246.36 in January 2020 to 1916.98 in December 2024[145]. - The company anticipates challenges in revenue growth due to increased buyer power from medical insurance and potential consolidation in the retail pharmacy market[146]. - The company is committed to enhancing quality control and compliance with new regulations, focusing on the stability and quality of medicinal materials[149]. Employee and Management Structure - The total number of employees in the parent company is 3,317, while the main subsidiaries have 518 employees, resulting in a total of 3,835 employees[179]. - The company has a structured process for evaluating the performance of its directors and senior management, which influences their remuneration[166]. - The company emphasizes a performance-based compensation policy, directing benefits towards employees who contribute to superior performance[180]. - The company has established various sales models, including agency, self-operated, and e-commerce[113]. - The company has implemented a performance evaluation mechanism for senior management, focusing on achieving business goals and individual performance assessments[195].

中国银河证券股份有限公司 关于津药达仁堂集团股份有限公司 中国银河证券股份有限公司（以下简称"银河证券"或"保荐机构"）作为 津药达仁堂集团股份有限公司（以下简称"达仁堂"或"公司"）非公开发行 A 股股票的保荐机构，根据《证券发行上市保荐业务管理办法》《上海证券交易所 股票上市规则》《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》和《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 有关规定，对达仁堂部分募投项目结项、调整投资规模和结项、终止并将节余募 集资金永久性补流的事项进行了审慎核查，并发表如下核查意见： 一、 募集资金基本情况 经中国证券监督管理委员会《关于核准天津中新药业集团股份有限公司非公 开发行股票的批复》（证监许可[2015]1072号）文件批准，公司2015年6月19日向 特定投资者非公开发行人民币普通股（A股）29,564,356股，每股面值人民币1.00 元，发行价格为人民币28.28元/股，募集资金总额共计人民币836,079,987.68元， 扣除承销及保荐费用、发行登记费以及其他交易费用人民币21,739,987.68元后， 本次发行募集资金净 ...

Investment Rating - The report maintains a strong investment rating for the biopharmaceutical industry, particularly for the traditional Chinese medicine (TCM) sector, which is expected to benefit from multiple factors in 2025 [2]. Core Insights - The TCM sector is anticipated to experience a gradual reduction in performance pressure in 2025, driven by factors such as improved earnings, favorable policies, decreasing costs, rising demand, and consolidation within the industry [4][6]. - The report identifies five main investment opportunities within the TCM sector, including high-end OTC products, state-owned enterprise reforms, hospital-based TCM, dividend-paying assets, and turnaround situations for struggling companies [4][7]. Summary by Sections 1. Performance Outlook - The TCM sector faced overall revenue decline in 2024, with a total revenue of 270.61 billion yuan, down 3.28% year-on-year, and a net profit of 29.88 billion yuan, down 8.55% year-on-year [10]. - The number of companies forecasting negative net profit growth in 2024 is 22 out of 34, while only 12 companies expect positive growth [16]. 2. Policy Developments - The third batch of national TCM procurement results showed an average price reduction of 63%, but the impact on listed companies is limited due to the small number of affected products [20]. - A new essential drug list is expected to be released in 2025, which may include more TCM products, enhancing their market presence [24]. 3. Cost Factors - The TCM material price index has been declining since July 2024, which is expected to alleviate cost pressures for TCM companies and improve their gross margins starting in 2025 [28]. 4. Demand Dynamics - The recent increase in flu cases has driven demand for related treatment products, leading to a quicker clearance of inventory for cold and cough medications [34]. 5. Competitive Landscape - The TCM industry is experiencing frequent mergers and acquisitions, which are likely to enhance industry concentration and provide performance flexibility for related listed companies [39]. 6. Investment Opportunities - The report highlights five key investment themes: 1. High-end OTC TCM products, particularly those using natural bezoar as a key ingredient, are expected to see improved margins as supply stabilizes [45][54]. 2. State-owned enterprise reforms are anticipated to yield positive changes in management and strategic planning [7]. 3. Hospital-based TCM products are expected to gain market share due to regulatory support [7]. 4. Companies with strong cash flow and high dividend potential are viewed favorably [7]. 5. Companies currently facing challenges are expected to improve as inventory pressures ease [7]. 7. Recommended Stocks - The report suggests monitoring companies such as Kunming Pharmaceutical, Tongrentang, Darentang, Jiangzhong Pharmaceutical, Dong'e Ejiao, China Resources Sanjiu, Yunnan Baiyao, Tianshili, Fangsheng Pharmaceutical, and others for potential investment opportunities [4].

证券代码：600329 证券简称：达仁堂 编号：临 2025-003 号 津药达仁堂集团股份有限公司 关于审计机构变更项目质量控制复核人的公告 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。 津药达仁堂集团股份有限公司（以下简称"公司"）于 2024 年 8 月 13 日召开了 2024 年第三次董事会会议，审议通过了"续聘中 审华会计师事务所（特殊普通合伙）（以下简称"中审华"）为公司 2024 年度境内审计师，续聘胡官陈有限责任合伙会计师事务所 （FKT）为公司 2024 年度境外审计师，并提请股东大会授权董事 会确定其聘金的议案"。公司于 2024 年 12 月 30 日召开 2024 年第 三次临时股东大会审议通过了上述议案。具体内容详见公司于 2024 年 8 月 15 日、2024 年 12 月 31 日在《中国证券报》、《上海证券报》 和上海证券交易所网站（www.sse.com.cn）披露的相关公告。 近日，公司收到中审华出具的《关于变更项目质量控制复核人 的说明函》，中审华作为公司 2024 年度财务报告的审 ...