证券代码：600329 证券简称：达仁堂 编号：临 2024-013 号 津药达仁堂集团股份有限公司 关于参加 2023 年报沪市主板大健康 集体业绩说明会的公告 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： （网址：https://roadshow.sseinfo.com/） 津药达仁堂集团股份有限公司（以下简称"公司"）已分别于 2024 年 3 月 30 日、2024 年 4 月 30 日发布了 2023 年年度报告与 2024 年第一季度报告（详见上海证券交易所网站 www.sse.com.cn）。为便 于广大投资者更深入全面地了解公司2023 年度与2024年第一季度经 营成果、财务状况，公司计划于 2024 年 6 月 4 日参加 2023 年报沪市 主板大健康集体业绩说明会，会议时间为下午 13:30—16:30，会上将 就投资者关心的问题进行交流。 1 （三）会议召开方式：上证路演中心视频直播和网络互动 三、参加人员 董事、总经理：王磊女士 会议主题：2023 年报沪市主板大健康集体业绩说明会 ...

一、股权激励计划。 “正在完成方案，不久就会看到”。【这算是本次股东大会最重要的信息了】 二、中国心——速效救心丸。 1、长期保密，政策层面不会被他人仿制。公司也会不断加强护城河。 2、是第一个现代化创新中药。从配方、制剂、工艺全方位创新，至今仍是先进。 3、其他名字带“救心”二字的，都是老方子改名。 4、跟其他中药相比，原则上大家都是属于活血化瘀这个大类，但速效“具有不可比拟的优势”，不断 增加市场份额是有机会的。 5、跟硝酸甘油比，跟胸痛中心合作，研发成果发表在去年的广州胸痛中心，结论就是：不明原因的胸 痛、胸闷、心梗，以及血压降低的，不建议使用硝酸甘油，应该使用速效。原因就是速效的安全性， 以及硝酸甘油有耐药性且会急剧降低血压。 6、关于集采。目前向国家做了汇报，这样的机密品种，国家认同并给了支持。未来会不会集采不好 说，集采也不是洪水猛兽，做好了也是好事。 7、在天津打120，电话会提示使用速效。医生到达后，如果没有速效，会给吃速效。 ...

证券代码：600329 证券简称：达仁堂 公告编号：2024-012 津药达仁堂集团股份有限公司 2023 年年度股东大会决议公告 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 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 72 | | --- | --- | | 其中：A 股股东人数 | 50 | | 境外上市外资股股东人数（S 股） | 22 | | 2、出席会议的股东所持有表决权的股份总数（股） | 346,918,866 | | 其中：A 股股东持有股份总数 | 339,625,258 | | 境外上市外资股股东持有股份总数（S 股） | 7,293,608 | | 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 | 45.045 | (一) 股东大会召开的时间：2024 年 5 月 15 日 (二) 股东大会召开的地点：中国天津市滨海新区第十大街 21 号津药达仁堂集 团现代中药产业园会议室 (三) 出席会议的普通股股东和恢复表决权的优先股股东及 ...

Room609-611,Floor 6,Vantone Central,, Heping District, Tianjin 300042, P.R. China 北京观韬中茂（天津）律师事务所 北京观韬中茂（天津）律师事务所 关于津药达仁堂集团股份有限公司 2023 年年度股东大会的法律意见书 观意字【2024】第 003401 号 Guantao Law Firm·Tian Jin Office Tel：86 22 58299677/78 Fax：86 22 58299679 E-mail：guantaotj@guantao.com http：// www.guantao.com 中国天津市和平区大沽北路与徐州道交 口万通中心 6 层 609-611 邮编：300042 致：津药达仁堂集团股份有限公司 北京观韬中茂（天津）律师事务所（以下简称"本所"）接受津药达仁堂集 团股份有限公司（以下简称"公司"）的委托，指派律师出席公司 2023 年度股 东大会（以下简称"本次股东大会"），并依据《中华人民共和国公司法》、《中 华人民共和国证券法》、《上市公司股东大会规则》等有关法律法规、规范性文 件以及《津药达仁 ...

Investment Rating - The investment rating for the company is "Buy" (first coverage) with a current price of 35.29 CNY and a target price of 41.85 CNY over a 12-month period [1]. Core Insights - The company has a rich historical background, founded in 1914, and has developed into a leading enterprise in traditional Chinese medicine with a strong brand presence [12]. - The implementation of the "Three Core and Nine Wings" strategy has driven steady business growth, particularly through the core product, "Suxiao Jiuxin Wan," which achieved sales exceeding 2 billion CNY in 2023, reflecting a year-on-year growth of 14.16% [1][27]. - The company has a robust product reserve with 599 approved drug varieties, including exclusive and protected traditional Chinese medicine products, which supports long-term growth [28]. Summary by Sections 1. Historical Background and Brand Strength - The company has a deep historical foundation and has won 14 intangible cultural heritage projects, showcasing its leadership in traditional medicine [12]. - The introduction of mixed ownership reform has revitalized the company, enhancing its operational capabilities and market competitiveness [13]. 2. Business Performance and Growth Strategy - The company reported a revenue of 82.22 billion CNY in 2023, maintaining stability compared to 2022, with a net profit of 9.87 billion CNY, reflecting a year-on-year increase of 14.53% [19]. - The proportion of traditional Chinese medicine revenue has steadily increased, reaching 70.98% of total revenue in 2023, with a gross margin of 57.27% [20]. 3. Product Development and Market Expansion - The company has invested significantly in R&D, with expenses rising from 0.87 billion CNY in 2012 to 1.85 billion CNY in 2023, focusing on key products and new market opportunities [24][25]. - The "Three Core and Nine Wings" strategy emphasizes the core product "Suxiao Jiuxin Wan" and secondary products, which are expected to drive future growth [27]. 4. Financial Forecast and Valuation - Revenue projections for 2024, 2025, and 2026 are estimated at 89.59 billion CNY, 97.27 billion CNY, and 104.09 billion CNY, respectively, with corresponding net profits of 11.94 billion CNY, 14.31 billion CNY, and 16.96 billion CNY [4][5].

证券代码：600329 证券简称：达仁堂 公告编号：2024-011 津药达仁堂集团股份有限公司 关于召开 2023 年年度股东大会的提示性公告 (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 (五) 网络投票的系统、起止日期和投票时间。 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 2023 年年度股东大会 召开的日期时间：2024 年 5 月 15 日 13 点 30 分 召开地点：中国天津市滨海新区第十大街 21 号津药达仁堂集团现代中药产 业园会议室 股东大会召开日期：2024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 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 2024 年 5 月 15 日 至 2024 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 ...

津药达仁堂集团股份有限公司 2023 年度股东大会 会议资料 2024 年 5 月 15 日 2023 年度股东大会 文件目录 目 录 现场会议召开时间：2024 年 5 月 15 日下午 1:30 会议方式：现场投票和网络投票相结合的方式 会议地点：中国天津市滨海新区第十大街 21 号 津药达仁堂集团现代中药产业园会议室 | 序号 | 议案 | 页码 | | --- | --- | --- | | 1 | 公司 2023 年度董事长工作报告 | 3 | | 2 | 公司 2023 年度董事会报告 | 16 | | 3 | 公司 2023 年度监事会工作报告 | 17 | | 4 | 公司 2023 年度财务报告和审计报告 | 19 | | 5 | 公司 2023 年度利润分配预案 | 22 | | 6 | "独立董事刘育彬先生 2023 年度酬劳为 5.5 万元新币"的议案 | 23 | | 7 | "独立董事李清女士 2023 年度酬劳为 6 万元人民币"的议案 | 23 | | 8 | "独立董事杨木光先生 2023 年度酬劳为 0.46 万元新币"的议案 | 23 | | 9 | "独立董事朱海峰先生 ...

Investment Rating - The report maintains a "Buy" rating for the company, with expected revenue and net profit growth for 2024-2026 [7]. Core Insights - The company's performance showed a slight decline in Q1 2024, with revenue of 2.086 billion yuan, down 3.19% year-on-year, and a net profit of 387 million yuan, down 3.36% year-on-year. The industrial segment saw revenue growth of 4.38%, while the commercial segment experienced a decline of 16.19% [2]. - The company has a strong core competitiveness in its product offerings, with 599 approved drug varieties covering 13 major health management areas. Key products like Su Xiao Jiu Xin Wan and Jing Wan Hong Ointment have extensive market coverage [2]. - The gross profit margin improved significantly, reaching 51.54% in Q1 2024, an increase of 2.76 percentage points year-on-year, while the net profit margin was 18.38%, down slightly by 0.08 percentage points [2]. Financial Data Summary - Total market capitalization is approximately 27.33 billion yuan, with a circulating market value of about 20.08 billion yuan [3]. - The company’s projected revenues for 2024, 2025, and 2026 are 8.998 billion yuan, 9.710 billion yuan, and 10.390 billion yuan, respectively, with corresponding net profits of 1.189 billion yuan, 1.271 billion yuan, and 1.356 billion yuan [8]. - The earnings per share (EPS) are forecasted to be 1.54 yuan, 1.65 yuan, and 1.76 yuan for the years 2024, 2025, and 2026, respectively, with price-to-earnings (P/E) ratios of 23, 21, and 20 [8].

Financial Performance - The company's operating revenue for Q1 2024 was CNY 2,085,588,390.55, representing a decrease of 3.19% compared to the same period last year[4] - Net profit attributable to shareholders was CNY 387,326,165.82, down 3.36% year-on-year[4] - Total operating revenue for Q1 2024 was ¥2,085,588,390.55, a decrease of 3.2% from ¥2,154,405,776.85 in Q1 2023[20] - Net profit for Q1 2024 was ¥383,381,748.70, a decline of 3.6% compared to ¥397,782,701.63 in Q1 2023[21] - The total comprehensive income for Q1 2024 was ¥382,316,137.03, compared to ¥397,884,789.40 in Q1 2023[21] - Earnings per share (EPS) for Q1 2024 was ¥0.50, down from ¥0.52 in Q1 2023[22] Cash Flow - The net cash flow from operating activities was negative at CNY -89,299,402.45, a decline of 147.76% compared to the previous year[4] - In Q1 2024, the cash inflow from operating activities was $1,737,890,346.16, a decrease of 21.2% compared to $2,206,851,084.07 in Q1 2023[23] - The net cash outflow from operating activities was -$89,299,402.45, contrasting with a net inflow of $186,966,594.00 in the same period last year[23] - Cash inflow from investment activities totaled $170,641,394.72, up 46.6% from $116,357,731.22 in Q1 2023[24] - The net cash flow from investment activities was $116,442,681.19, compared to $71,880,276.34 in Q1 2023, indicating a significant increase[24] - Cash inflow from financing activities was $300,000,000.00, down 19.5% from $372,856,026.17 in Q1 2023[24] - The net cash flow from financing activities was $294,439,190.67, compared to $323,495,213.95 in the same quarter last year, reflecting a decrease of 9.0%[24] - The ending cash and cash equivalents balance was $2,318,912,399.55, down from $3,293,873,530.35 at the end of Q1 2023[24] - The total cash and cash equivalents increased by $321,526,537.50 during Q1 2024, compared to an increase of $582,340,388.85 in Q1 2023[24] Assets and Liabilities - The total assets at the end of the reporting period were CNY 11,050,622,609.95, an increase of 8.02% from the end of the previous year[5] - As of March 31, 2024, the total assets of the company reached approximately RMB 11.05 billion, an increase from RMB 10.23 billion as of December 31, 2023, representing a growth of about 8.06%[16] - The company's cash and cash equivalents amounted to RMB 2.46 billion, up from RMB 2.13 billion, indicating a growth of approximately 15.66%[16] - Accounts receivable increased to RMB 2.59 billion from RMB 2.17 billion, reflecting a rise of about 19.06%[16] - The total current liabilities were reported at RMB 3.12 billion, compared to RMB 2.93 billion in the previous period, marking an increase of approximately 6.88%[17] - Total liabilities increased to ¥4,022,895,185.50, up 12.2% from ¥3,584,864,433.55 year-over-year[20] - Total equity rose to ¥7,027,727,424.45, an increase of 5.7% from ¥6,645,236,507.13 in the previous year[20] Investments and Expenses - The company reported a significant increase in short-term borrowings by 366.75% due to increased financial institution loans[8] - The company’s long-term equity investments decreased to RMB 783.25 million from RMB 882.31 million, a decline of about 11.22%[17] - Research and development expenses for Q1 2024 were ¥24,735,005.11, slightly up from ¥24,195,352.76 in Q1 2023[20] - Investment income for Q1 2024 was ¥77,903,453.11, down from ¥101,316,733.75 in the same quarter last year[20] - The company reported a decrease in sales expenses to ¥553,347,918.63 from ¥590,350,713.28 in Q1 2023[20] - The cash outflow for purchasing fixed assets and other long-term assets was $14,198,713.53, significantly lower than $44,477,454.88 in Q1 2023[24] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 51,085[10] - There are no significant changes in shareholder structure or major strategic shifts reported during this period[15] Other Information - The industrial segment's revenue increased by 4.38% year-on-year, while the commercial segment's revenue decreased by 16.19%[8] - The company received government subsidies amounting to CNY 8,318,108.13, which positively impacted the financial results[6] - The company has not disclosed any new product launches or technological advancements in this quarter[15] - The company’s net profit margin for the quarter is not explicitly stated but can be inferred from the increase in total assets and cash flow metrics[15] - The weighted average return on net assets decreased by 0.27 percentage points to 5.70%[5]

[Table_RightTitle] 证券研究报告|中药Ⅱ 公 [Table_Title] [Table_StockRank] 司 多个治疗领域收入高增长，整体盈利能力提 买入 研 (维持) 究 升 [Table_StockName] [Table_ReportDate] ——达仁堂（600329）点评报告 2024年04月25日 [报Ta告ble关_S键um要m素ar:y ] [基Ta础ble数_B据ase Data] 2024年3月30日，公司发布2023年年报。2023年，公司实现营业收 总股本（百万股） 770.16 入82.22亿元（-0.33%），归母净利润9.87亿元（+14.49%），扣非归母 流通A股（百万股） 565.87 净利润9.52亿元（+23.80%）。2023Q4，公司实现营业收入24.29亿元 收盘价（元） 33.58 公 （-9.57%），归母净利润1.29亿元（-3.01%），扣非归母净利润1.10亿 总市值（亿元） 258.62 司 元（-8.33%）。 流通A股市值（亿元） 190.02 点 [个Ta股ble相_C对ha沪rt] 深 300 指数表现 评 投资要点: 报 ...