截至本公告日期，有關設立廣藥荔灣基金的合夥協議二尚未正式簽署。本公司將根據香港上市規則 之規定於合夥協議二簽署後另行刊發公告。本公司股東及潛在投資者於買賣本公司股份時，務請審 慎行事。 廣州白雲山醫藥集團股份有限公司 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 關連交易進展公告 參與設立廣藥廣開基金和廣藥荔灣基金 茲提述廣州白雲山醫藥集團股份有限公司（「本公司」）日期為2025年12月22日之公告（「該公告」），內 容有關本公司附屬企業廣藥二期基金參與設立廣藥廣開基金和廣藥荔灣基金之關連交易。除另有界 定外，本公告所用詞彙與該公告所界定者具有相同涵義。 董事會欣然宣佈於2025年12月29日，廣藥二期基金與廣藥資本、廣開基金訂立了有關設立廣藥廣開 基金的合夥協議一。合伙協議一於同日正式生效，合夥協議一的主要條款並無任何變更。合夥協議 一的主要條款及本次投資詳情載於該公告。 董事會 中國廣州，2025年12月29日 於本公告日，本公司董事會成員包括 ...

Group 1 - The core objective of Guangzhou Pharmaceutical Group is to establish an incubation platform and innovate the ecosystem, with an expected R&D investment of 10 billion to 15 billion yuan and industrial investment and acquisitions of 20 billion to 30 billion yuan during the 14th Five-Year Plan period [1] - The company aims to accelerate its transformation into a world-class pharmaceutical and health technology innovation enterprise by enhancing talent acquisition, building strong platforms, deepening ecosystems, expanding layouts, and optimizing incentives [1] - Guangzhou Pharmaceutical Group has become the first world Fortune 500 company primarily focused on traditional Chinese medicine, contributing significantly to the high-quality development of the biopharmaceutical industry in Guangdong Province [1] Group 2 - The 14th Five-Year Plan period is viewed as a golden window for Guangzhou Pharmaceutical Group to achieve leapfrog development, with a focus on transforming into a technology-driven and innovative enterprise group [2] - The company has appointed over 30 experts, including three academicians, to empower its innovation strategy, with notable appointments including Academician Rao Zihe as the head of the technology committee [2] - Guangzhou Pharmaceutical Group is actively integrating research resources and has established a comprehensive research and transformation support system, featuring seven major innovation research platforms [2] Group 3 - During the conference, Guangzhou Pharmaceutical Group signed over 20 cooperation projects, including strategic partnerships with Muen Bio and Huawei to accelerate digital development and application of microbiological technology [3] - Collaborations were also established with various universities and companies to enhance the synergy between industry, academia, and research [3]

Core Viewpoint - Recently, the company announced that its subsidiary, Guangzhou Baiyunshan Biological Products Co., Ltd. (referred to as "Baiyunshan Biological"), received approval from the National Medical Products Administration for the drug registration certificate of the freeze-dried human rabies vaccine (Vero cells) [1] Group 1 - The company has successfully obtained a drug registration certificate for its rabies vaccine, indicating a significant milestone in its product development [1] - This approval may enhance the company's product portfolio and strengthen its position in the biopharmaceutical market [1]

Core Viewpoint - The company has received approval from the National Medical Products Administration for the registration of a freeze-dried human rabies vaccine (Vero cells), which will enhance its product portfolio and competitiveness in the vaccine market [1] Group 1 - The company, Guangzhou Baiyunshan Biological Products Co., Ltd., has obtained the drug registration certificate for the freeze-dried human rabies vaccine (Vero cells) [1] - The vaccine is intended for the prevention of rabies [1] - The approval will allow the company to enrich its product structure and improve its competitiveness in the vaccine market [1] Group 2 - Baiyunshan Biological will actively commence production of the freeze-dried human rabies vaccine in accordance with relevant requirements [1] - The product will be available for sale after obtaining the biological product batch release certificate from the National Medical Products Administration [1]

Core Viewpoint - Recently, the company announced that its subsidiary, Guangzhou Baiyunshan Biological Products Co., Ltd. (referred to as "Baiyunshan Biological"), received the drug registration certificate for the lyophilized human rabies vaccine (Vero cells) from the National Medical Products Administration, which will enhance the company's product portfolio and competitiveness in the vaccine market [1] Group 1 - The lyophilized human rabies vaccine (Vero cells) is intended for the prevention of rabies [1] - The approval of the drug registration certificate will allow Baiyunshan Biological to actively commence production of the vaccine [1] - The product will be available for sale after obtaining the biological product batch release certificate from the National Medical Products Administration [1]

Core Viewpoint - The company Baiyunshan (00874) has received approval from the National Medical Products Administration for the registration certificate of the lyophilized human rabies vaccine (Vero cells), which will enhance its product portfolio and competitiveness in the vaccine market [1] Group 1 - Baiyunshan's subsidiary, Guangzhou Baiyunshan Biological Products Co., Ltd. (referred to as "Baiyunshan Biological"), is the entity that received the vaccine registration certificate [1] - The lyophilized human rabies vaccine (Vero cells) is intended for the prevention of rabies [1] - The company plans to actively commence production of the vaccine in accordance with relevant requirements, and it will be available for sale after obtaining the biological product batch release certificate from the National Medical Products Administration [1]

人才与平台，是驱动科技创新的核心双翼。为赋能"十五五"期间产业跨越发展，大会期间，广药集团还 举行了科技委员会主任、战略专家顾问、首席专家顾问、资深专家顾问的聘任仪式，包括3名院士在内 的超30名专家为广药集团"科技创新大脑"赋能，助力集团建设一个创新动能更澎湃的科技新高地。 除了引进外部"智囊团"，广药集团还大力整合科研体系资源，积极构建覆盖全产业链、面向未来的科研 与转化支柱体系，已打造以七大创新研发平台为核心的创新平台体系，包括中医药创新平台、化学药创 新平台、生物药创新平台、高端营养创新平台、核医药创新平台、动物保健创新平台、医疗器械创新平 台，进一步夯实科技创新策源基础。 作为广东省、广州市生物医药健康产业"链主"企业，广药集团已发展为首家以中医药为主业的世界500 强企业。 "我们希望通过科技创新大会这一平台，让全球合作伙伴、客户及产业链上下游了解，广药集团正加速 转型升级为一家科技型、创新型企业集团。"广药集团党委书记、董事长李小军在致辞中表示，"十五 五"时期是广药集团实现跨越式发展的黄金窗口，广药集团将始终锚定"现代化、数字化、科技化、国际 化"的四化方向，坚定不移抓住科技创新这个"牛鼻子" ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產 生或因倚賴該等內容而引致的任何損失承擔任何責任。 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第 13.10B 條而作出的。 证券代码：600332 证券简称：白云山 公告编号：2025－094 茲 刊 載 廣 州 白 雲 山 醫 藥 集 團 股 份 有 限 公 司 （ 「 本 公 司 」 ） 在 上 海 證 券 交 易 所 網 站 （www.sse.com.cn）刊登的本公司關於廣州白雲山生物製品股份有限公司收到藥品註冊證書的 公告之中文全文，僅供參考。 廣州白雲山醫藥集團股份有限公司 董事會 中國廣州，2025 年 12 月 28 日 於本公告日，本公司董事會成員包括執行董事李小軍先生、陳傑輝先生、程寧女士、程 洪進先生、唐和平先生與黎洪先生，及獨立非執行董事陳亞進先生、黃民先生、黃龍德 先生與孫寶清女士。 广州白云山医药集团股份有限公司 关于广州白云山生物制品股份有限公司收到 药品注册证书的公告 本公司董事会及全体董事保证本公告内 ...

中国青年报客户端讯（中青报·中青网记者 林洁）12月27日，广药集团科技创新大会在广州举行。广药 集团宣布，"十五五"时期拟投入100亿元至150亿元研发费用，加大新药研发力度，打造科技创新型企 业，通过建立健全科技创新的容错机制，优化重大项目决策机制，以更大力度推进科技创新布局。 广药集团 七大创新平台获授旗。主办方供图 同时，广药集团将设立广药资本运营公司，加强资本运作，持续撬动社会资本扩容增效。"十五五"期间 预计研发投入100亿元至150亿元；产业投资与并购200亿元至300亿元，聚合创新生态。广药集团还将携 手大院大所共建高水平联合实验室和创新研究院，联动上下游企业，构建全产业链创新生态，提升科技 成果转化效能。 广药集团将整合科研体系资源，构建覆盖全产业链、面向未来的科研与转化支柱体系。广药集团已打造 以七大创新研发平台为核心的创新平台体系，包括中医药创新平台、化学药创新平台、生物药创新平 台、高端营养创新平台、核医药创新平台、动物保健创新平台、医疗器械创新平台。 当天，广药集团逾20个合作项目进行签约，包括在核医药、动物保健业务等新赛道加速布局。广药集团 拥有超200项在研项目，涵盖恶性肿瘤、慢 ...

Core Viewpoint - The new leadership of Guangzhou Pharmaceutical Group aims to lead the company out of a low operational period by focusing on technological innovation and transformation during the 14th Five-Year Plan period [3]. Group 1: Innovation Strategy - The company plans to invest between 10 billion to 15 billion yuan in research and development and 20 billion to 30 billion yuan in industrial investment and acquisitions during the 14th Five-Year Plan [3]. - The strategy includes building incubation platforms, aggregating innovation ecosystems, and enhancing talent acquisition and platform development to accelerate innovation transformation [3][6]. Group 2: Business Performance - Guangzhou Pharmaceutical Group's listed company, Baiyunshan, derives its revenue from three main sectors: traditional Chinese medicine, health products, and pharmaceutical distribution [3]. - The pharmaceutical distribution sector generated 29 billion yuan in revenue in the first half of 2025, accounting for nearly 70% of Baiyunshan's total revenue, but with a low gross margin of 6.13% [4]. - The health products sector followed with a revenue of 7.02 billion yuan and a gross margin of 44.67%, while the traditional Chinese medicine sector generated 5.24 billion yuan with a gross margin of 49.71% [4]. Group 3: Challenges and Market Dynamics - The health products and traditional Chinese medicine sectors are experiencing sluggish growth due to intense competition in the beverage industry and ongoing drug procurement policies [5]. - Traditional pharmaceutical companies that have prioritized innovation are seeing growth in sales of innovative drugs and external licensing, contrasting with the challenges faced by traditional Chinese medicine companies, which struggle with innovation capacity and aging product structures [5]. Group 4: Commitment to Innovation - Baiyunshan's R&D investment was only 828 million yuan in 2024, representing just 4.26% of the company's revenue, indicating a need for increased focus on innovation [6]. - The company is committed to a dual approach of self-research and acquisitions to drive innovation, aiming for results from acquisitions within one to two years and from self-research within five to ten years [6].