广州白云山医药集团股份有限公司 投资者投诉处理工作制度 （经公司2025年10月28日召开的第九届董事会第三十次会议审 议通过） 第一章 总则 第一条 依据《中华人民共和国公司法》《中华人民共和国 证券法》及《上市公司投资者关系管理工作指引》等相关法律、 法规和工作指引，为进一步规范广州白云山医药集团股份有限 公司（以下简称"公司"）投资者投诉处理工作，切实保护投 资者合法权益，维护公司资本市场形象，结合公司的实际情况， 制定本制度。 第二条 本制度仅适用于公司处理投资者涉及证券市场信 息披露、公司治理、投资者权益保护等相关的投诉事项。公司 客户、员工及其他相关主体对公司产品或服务质量、民事合同 或劳资纠纷、专利、环保等生产经营相关问题的投诉不属于本 制度范围。 第二章 工作机制 第三条 投资者投诉处理工作为公司投资者关系管理和投 资者权益保护的重要内容，公司各部门应积极配合，规范处理 投资者投诉。 第六条 公司应加强对相关人员的培训，配置必要设备， 提供经费支持，提高投诉处理工作人员业务水平，确保投资者 投诉处理机制运转有效。 第七条 负责具体工作的相关工作人员应耐心做好投资者 投诉处理工作，不得推诿扯皮、 ...

Core Insights - The company reported third-quarter revenue of 19.771 billion, representing a year-on-year increase of 9.74% [1] - Net profit for the third quarter was 794 million, showing a year-on-year growth of 30.28% [1] - For the first three quarters, total revenue reached 61.606 billion, with a year-on-year growth of 4.31% [1] - Net profit for the first three quarters amounted to 3.31 billion, reflecting a year-on-year increase of 4.78% [1]

Core Viewpoint - Baiyunshan Pharmaceutical Group's stock performance shows a slight increase, with significant financing activities indicating high investor interest and potential volatility in the market [1][2]. Financing Activities - On October 27, Baiyunshan had a financing buy-in amount of 26.22 million yuan and a financing repayment of 30.97 million yuan, resulting in a net financing outflow of 4.76 million yuan [1]. - The total financing and securities lending balance for Baiyunshan reached 949 million yuan, with the financing balance accounting for 2.62% of the circulating market value, indicating a high level compared to the past year [1]. Securities Lending - On the same day, Baiyunshan repaid 8,000 shares in securities lending, with no shares sold, resulting in a securities lending balance of 2.25 million yuan, which is also at a high level compared to the past year [1]. Company Overview - Baiyunshan, established on September 1, 1997, and listed on February 6, 2001, operates in various sectors including traditional Chinese medicine, chemical raw materials, and health management services [2]. - The company's revenue composition includes 69.32% from large commercial operations, 16.79% from health products, and 12.53% from traditional Chinese medicine [2]. Financial Performance - For the first half of 2025, Baiyunshan reported a revenue of 41.84 billion yuan, reflecting a year-on-year growth of 1.93%, while the net profit attributable to shareholders was 2.52 billion yuan, showing a decrease of 1.31% [2]. Dividend Distribution - Since its A-share listing, Baiyunshan has distributed a total of 10.91 billion yuan in dividends, with 4.36 billion yuan distributed over the past three years [3]. Institutional Holdings - As of June 30, 2025, the top ten circulating shareholders of Baiyunshan include significant institutional investors, with Hong Kong Central Clearing Limited being the fifth largest shareholder, increasing its holdings by 9.36 million shares [3].

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。 補充公告 須予披露交易 收購目標公司11.04%股權 廣州白雲山醫藥集團股份有限公司 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9月28日之公告（「該公告」），內容 有關收購目標公司11.04%股權之須予披露交易。除文義另有所指外，本公告所採用之詞彙與該公告 所界定者具有相同涵義。 董事會謹此向本公司股東及潛在投資者提供有關收購事項之補充資料如下： 關於目標公司及目標股份對應的所有者權益賬面價值 根據目標公司按照中國企業會計準則編製的截至2024年12月31日止財政年度的經審核綜合財務報 表，及截至2025年6月30日未經審核綜合財務報表，目標股份的賬面價值載列如下： | | 截至2024年 | 截至2025年 | | --- | --- | --- | | 項目 | 12月31日止 | 6月30日止 | | | （人民幣元） | （人民幣元） | | 目標公司所有者權益賬面價值 ...

關於目標公司及目標股份對應的所有者權益賬面價值 根據目標公司按照中國企業會計準則編製的截至2024年12月31日止財政年度的經審核綜合財務報 表，及截至2025年6月30日未經審核綜合財務報表，目標股份的賬面價值載列如下： | | 截至2024年 | 截至2025年 | | --- | --- | --- | | 項目 | 12月31日止 | 6月30日止 | | | （人民幣元） | （人民幣元） | | 目標公司所有者權益賬面價值 | 7,787,898,114.01 | 7,853,994,659.66 | | 目標股份對應的所有者權益賬面價值 | 859,783,951.79 | 867,081,010.43 | 1 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。 補充公告 須予披露交易 收購目標公司11.04%股權 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9月28日之公告（「該公告」），內容 有關收購目標公司11. ...

Core Viewpoint - The strategic cooperation agreement between Guangzhou Pharmaceutical Group and JD Health aims to leverage digital innovation to enhance resource integration and value release in the pharmaceutical and healthcare industry [1][2]. Group 1: Strategic Cooperation - The agreement focuses on integrating products, channels, technology, and service resources to build a multi-layered, integrated cooperation system [1]. - Both companies aim to deepen collaboration in product innovation, channel development, and service integration, while exploring joint investment and resource integration for industry upgrades [1][2]. Group 2: Business Growth and Collaboration - Since their deep cooperation began in 2017, the partnership has achieved over 20% compound annual growth rate in business collaboration over the past three years [1]. - Future efforts will include establishing a regular collaboration mechanism across all levels, focusing on major product expansion and exploring new cooperation scenarios such as international markets [2]. Group 3: Supply Chain and User Services - The partnership will enhance supply chain efficiency through precise procurement, smart inventory management, and automated replenishment, utilizing JD Health's extensive delivery network [2]. - Guangzhou Pharmaceutical Group will leverage JD Health's user data to improve service precision and personalization, with new products launching first on JD Health's platform [2]. Group 4: Corporate Social Responsibility - Both companies will collaborate on a drug recycling initiative, combining Guangzhou Pharmaceutical Group's existing program with JD Health's public welfare platform [2].

Core Viewpoint - The article highlights the challenges faced by Baiyunshan, particularly in its pharmaceutical and health segments, which are struggling with declining revenues and profits due to insufficient innovation and increased competition [8][14][35]. Financial Performance - In 2024, Baiyunshan's non-net profit decreased by 35.2% year-on-year, with a non-net profit of 2.21 billion RMB, reflecting a 5.8% decline in the first half of the year [8][9]. - The company's main business segments, particularly the Traditional Chinese Medicine (TCM) and health sectors, are underperforming, with TCM revenue down 10.4% and health revenue down 12.7% in 2024 [11][26]. - The commercial segment showed slight growth, with a revenue increase of 3.39%, but its low profit margins are insufficient to offset the overall profitability issues [12]. Industry Context - The pharmaceutical industry is undergoing a transformation, with policies such as centralized procurement and stricter compliance regulations putting pressure on companies [14]. - Despite the industry's challenges, Baiyunshan's performance decline is more severe than the industry average, indicating deeper structural issues within the company [14]. Product Performance - Baiyunshan's flagship product, "Jin Ge" (a treatment for erectile dysfunction), is facing intense competition, with over 50 companies now holding approval for similar products, leading to a 19.8% revenue decline in 2024 [17][19]. - The health segment's main product, Wanglaoji, is also struggling, with a 12.7% revenue drop in 2024, although it saw a rebound in the first half of 2025 with a 7.4% increase [26][27]. Innovation and R&D - Baiyunshan's investment in research and development is notably low, with R&D expenses amounting to only 290 million RMB, representing just 0.7% of revenue, which is insufficient to drive new growth [24]. - The lack of innovative products to replace declining sales from existing products is a significant concern for the company's future growth prospects [24].

Core Viewpoint - The Ministry of Industry and Information Technology is implementing the recognition and review of "Little Giant" enterprises specializing in niche markets, in line with President Xi Jinping's directive to promote more specialized and innovative small and medium-sized enterprises [1]. Summary by Sections Recognition and Review Process - The recognition and review process for the 2025 "Little Giant" enterprises has been completed, including initial reviews and recommendations from provincial departments and expert evaluations [1]. Regional Statistics - A total of 3,482 new "Little Giant" enterprises were recognized in the seventh batch, while 3,916 enterprises passed the review for 2025 [3]. - Jiangsu Province leads with 807 new enterprises, followed by Guangdong Province with 691, and Zhejiang Province with 398 [3]. Detailed Lists of Enterprises - The article includes detailed lists of recognized enterprises, particularly from Ningbo City, which features numerous companies in various sectors such as electronics, materials, and technology [4][5][6][7].

Group 1 - The core viewpoint of the article is the strategic partnership between JD Health and Guangzhou Pharmaceutical Group, aimed at enhancing supply chain efficiency through integrated solutions [1] Group 2 - JD Health will provide an all-channel sales and supply chain integration solution to Guangzhou Pharmaceutical Group [1] - The collaboration will focus on precise procurement, intelligent inventory management, and automated replenishment [1] - The goal is to build a more agile and efficient supply chain system [1]

Group 1 - The "Yangcheng Invitation" recruitment event for the Guangdong-Hong Kong-Macao Greater Bay Area was held at Jinan University, integrating online and offline modes to provide comprehensive employment and entrepreneurship services for youth from Guangdong, Hong Kong, and Macao [1] - Over 400 quality enterprises participated in the event, including major companies like GAC Group, Guangzhou Pharmaceutical Group, and HSBC Global, offering more than 10,000 job positions across key sectors such as advanced manufacturing and technology innovation [1] - The event featured five specialized recruitment zones to enhance job matching efficiency, attracting nearly 10,000 online viewers during the live broadcast [1] Group 2 - Graduates expressed interest in competitive salaries, with a master's graduate from Jinan University noting an annual salary of approximately 500,000 yuan offered by Guangzhou Pharmaceutical Group [1] - Companies emphasized the importance of career advancement opportunities for "post-00s" job seekers, with a focus on attracting high-caliber talent [2] - Innovative employee benefits were introduced by companies, such as special leave policies, reflecting a people-oriented approach to talent acquisition in Guangzhou [2] Group 3 - The event also included a youth innovation and entrepreneurship expo, showcasing over 120 entrepreneurial projects in fields like artificial intelligence and biomedicine, highlighting the vibrant entrepreneurial spirit among youth [2]