Core Viewpoint - The acquisition of 11.04% equity in Nanjing Pharmaceutical Co., Ltd. by the buyer (Guangyao Phase II Fund) from the seller (AHAPL) for RMB 748.8 million is expected to enhance strategic cooperation and optimize the company's business operations in the pharmaceutical distribution sector [1][3]. Group 1: Acquisition Details - The buyer will acquire 11.04% equity in the target company for a consideration of RMB 748.8 million, which will be completed by September 26, 2025 [1]. - Following the acquisition, the buyer will hold 11.04% equity in the target company, which amounts to 145 million shares [1]. Group 2: Strategic Cooperation - A strategic investment agreement has been established to enhance collaboration between the company, the buyer, and the target company, focusing on capital cooperation and business operations [1][3]. - The cooperation will include the establishment of joint ventures, strategic investments, and equity investment funds, subject to legal compliance [1]. Group 3: Distribution and Supply Chain - The company and the target company will work together to optimize supply chain resources and logistics networks, aiming to create a stable and efficient supply chain system [2][3]. - There will be a focus on market access and distribution for proprietary industrial products, enhancing the competitiveness of both companies' products and services [1][2]. Group 4: Traditional Chinese Medicine Collaboration - Both companies will support their respective subsidiaries in the traditional Chinese medicine sector to promote industrial transformation and modernization of production processes [2]. - The collaboration aims to establish a comprehensive traceability system for traditional Chinese medicinal materials, enhancing the cultural and industrial strength of traditional Chinese medicine [2]. Group 5: Company Background - Nanjing Pharmaceutical Co., Ltd. is a well-known regional enterprise in the pharmaceutical distribution industry, with a market presence in Jiangsu, Anhui, Hubei, Fujian, and Kunming [2]. - The controlling shareholder, Nanjing New Industry Group, holds 44.17% of Nanjing Pharmaceutical, with the Nanjing State-owned Assets Supervision and Administration Commission owning 90.90% of the group [2].

Core Insights - Nanjing Pharmaceutical (600713) signed a strategic investment agreement with Guangzhou Baiyunshan Pharmaceutical Group Co., Ltd. and Guangzhou Traditional Chinese Medicine Equity Investment Partnership (Limited Partnership) [2] - Baiyunshan's subsidiary plans to acquire 144,557,431 shares from Alliance Healthcare Asia Pacific Limited, representing 11.04% of Nanjing Pharmaceutical's total shares [2] Group 1: Transaction Details - The share transfer price is set at 5.18 CNY per share, totaling approximately 748.81 million CNY [4] - Nanjing Pharmaceutical's current stock price is 4.88 CNY per share, indicating a slight premium over the transfer price [4] Group 2: Company Profiles - Baiyunshan is an A+H listed company with a market capitalization of approximately 41.3 billion CNY, engaged in the research, development, manufacturing, and sales of various pharmaceutical products [4][5] - Nanjing Pharmaceutical has a market capitalization of around 6.4 billion CNY and focuses on pharmaceutical distribution and healthcare services [6] Group 3: Strategic Implications - Baiyunshan aims to enhance business cooperation with Nanjing Pharmaceutical, optimizing its industrial layout in East China and strengthening its competitive advantage in pharmaceutical distribution [6] - The collaboration is based on principles of mutual benefit, resource sharing, and long-term strategic partnership [6]

Group 1 - The company Baiyunshan (600332) has announced the appointment of Mr. Chen Jiehui as the Vice Chairman of the Ninth Board of Directors, effective from September 26, 2025, until the term of the Ninth Board of Directors expires [1]

Core Viewpoint - Baiyunshan and Nanjing Pharmaceutical are leading regional pharmaceutical distribution enterprises, with Baiyunshan initiating a significant strategic investment project following a leadership change [1]. Group 1: Investment Details - Baiyunshan's Guangzhou Traditional Chinese Medicine Phase II Fund plans to invest 749 million yuan to acquire 145 million non-restricted shares of Nanjing Pharmaceutical, representing 11.04% of its total shares [1][2]. - The acquisition price is set at 5.18 yuan per share, reflecting a premium of approximately 6.15% over Nanjing Pharmaceutical's closing price of 4.88 yuan on September 26 [2]. Group 2: Strategic Cooperation - A strategic investment agreement was signed on September 28, focusing on capital cooperation, distribution channel collaboration, and traditional Chinese medicine cooperation [4]. - Baiyunshan and Nanjing Pharmaceutical will work on market expansion and channel sharing, optimizing supply chain resources and logistics networks to establish a stable and efficient supply chain system [4]. Group 3: Market Position and Trends - Baiyunshan's Guangzhou Pharmaceutical Co., Ltd. and Nanjing Pharmaceutical rank sixth and seventh respectively in the 2024 top 100 pharmaceutical distribution companies in China [4]. - The pharmaceutical distribution industry is experiencing significant consolidation, with the top ten companies projected to hold an 82% market share by 2025 [4]. Group 4: Business Synergy - This transaction is expected to enhance business cooperation between Baiyunshan and Nanjing Pharmaceutical, optimizing regional industrial layout and strengthening competitive advantages in pharmaceutical distribution [5].

智通财经APP讯，白云山(00874)发布公告，陈杰辉先生已获委任为第九届董事会副董事长，任期自2025 年9月26日起至第九届董事会任期届满为止。 ...

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。 经董事审议、表决，本次会议审议通过如下议案： 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) 刊登的本公司第九屆董事會第二十九次會議決議公告之中文全文，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 9 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。 证券代码：600332 证券简称：白云山 公告编号：2025－074 广州白云山医药集团股份有限公司 第九届董事会第二十九次会议决议公告 本公司及董事会全体成员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 ...

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。 股份轉讓合同主要条款概述如下: 須予披露交易 收購目標公司 11.04%股權 收購事項 董事會欣然宣佈，於 2025 年 9 月 26 日，買方（廣藥二期基金，本公司控制的合夥企業）與賣方（AHAPL， 本公司獨立第三方）訂立了股份轉讓合同。根據股份轉讓合同，買方同意收購，賣方同意出售目標公司 11.04%股權，收購對價為人民幣 748,807,492.58 元。於收購事項完成後，買方將持有目標公司 11.04%股 權。同時，為加強本公司與目標公司的戰略合作，本公司、買方及目標公司同步訂立了戰略投資協議。 香港上市規則的涵義 由於股份轉讓合同項下擬進行的交易之所有適用百分比率（定義見香港上市規則第 14.07 條）中最高者 超過 5%但低於 25%，該交易構成本公司一項須予披露交易，須遵守香港上市規則第 14 章項下的申報及 公告規定，但無須本公司股東的批准。 緒言 董事會欣然宣佈，於 2025 年 9 ...

| | 委員會 | 審核委員會 | 戰略發展與 | 提名與薪酬 | 預算委員會 | | --- | --- | --- | --- | --- | --- | | 董事 | | | 投資委員會 | 委員會 | | | 李小軍先生 | | | C | | | | 陳傑輝先生 | | | M | M | | | 程寧女士 | | | | | M | | 程洪進先生 | | | | M | | | 唐和平先生 | | | | | M | | 黎洪先生 | | | M | | | | 陳亞進先生 | | M | M | M | C | | 黃民先生 | | M | | C | M | | 黃龍德先生 | | C | | | M | | 孫寶清女士 | | M | M | M | | 註 ： C： 相關董事會委員會主任 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。 董事名單及彼等角色及職能 廣州白雲山醫藥集團股份有限公司（「本公司」）董事會（「董事會」）成員 ...

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。 選舉副董事長 廣州白雲山醫藥集團股份有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此欣然宣佈，陳傑輝先 生（「陳先生」）已獲委任為第九屆董事會副董事長，任期自2025年9月26日起至第九屆董事會任期屆 滿為止。 陳先生的履歷詳情載列如下 ： 陳傑輝先生，50歲，中共黨員，博士研究生學歷，法學碩士。陳先生於1995年7月參加工作，曾先後 擔任廣州市地方稅務局辦公室副主任科員、主任科員、副主任，廣州市天河區地方稅務局副局長， 廣州市地方稅務局、國家稅務總局廣州市稅務局辦公室主任；廣州輕工工貿集團有限公司副總經 理、總法律顧問，兼廣州市大新文化創意發展有限公司董事長等職務；陳先生自2025年9月26日起任 本公司執行董事，現任廣州醫藥集團有限公司（「廣藥集團」）黨委副書記、副董事長、總經理、工會 主席，本公司黨委副書記、工會主席。陳先生在戰略管理、企業管理、公司治理、合規管理和黨建 工作等方面有豐富 ...

Core Viewpoint - On September 28, Baiyunshan announced that its subsidiary, Guangzhou Pharmaceutical Second Phase Fund, signed a share transfer agreement with Alliance Healthcare Asia Pacific Limited (AHAPL) to acquire 145 million non-restricted shares of Nanjing Pharmaceutical, representing 11.04% of the total shares, for a total price of 749 million yuan at 5.18 yuan per share. This transaction aims to strengthen business cooperation with Nanjing Pharmaceutical and optimize Baiyunshan's industrial layout in the East China region, promoting business development [1][2]. Group 1: Transaction Details - Baiyunshan will replace AHAPL as the second-largest shareholder of Nanjing Pharmaceutical after the transaction, which is significant as Nanjing Pharmaceutical is a well-known regional pharmaceutical distribution company in China with a market network covering several provinces [1]. - Prior to the transaction, Nanjing Pharmaceutical's major shareholder was Nanjing New Industry Investment Group, holding approximately 578 million shares (44.17%) [1]. Group 2: Financial Performance - As of June 30, 2025, Nanjing Pharmaceutical reported total assets of 33.206 billion yuan and net assets of 6.86 billion yuan, with revenues of 53.696 billion yuan and net profits of 571 million yuan for the first half of 2024-2025 [2]. - Baiyunshan's performance in 2024 was disappointing, with revenues of 74.993 billion yuan, a year-on-year decline of 0.69%, and a net profit of 2.835 billion yuan, down 30.09%, marking the lowest level in seven years [2]. - Baiyunshan's revenue in South China for 2024 was 55.585 billion yuan, slightly down by 0.5%, with a decrease in gross margin by 1.42 percentage points to 14.08% [3]. Group 3: Recent Performance Trends - In the first half of 2025, Baiyunshan achieved revenues of 41.835 billion yuan, a year-on-year increase of 1.93%, but net profit decreased by 1.31% to 2.516 billion yuan [3].