北京市中伦（广州）律师事务所 关于广州白云山医药集团股份有限公司 2024 年第二次临时股东大会的 法律意见书 二〇二四年九月 北京市中伦（广州）律师事务所 关于广州白云山医药集团股份有限公司 2024 年第二次临时股东大会的 法律意见书 致：广州白云山医药集团股份有限公司 北京市中伦（广州）律师事务所（以下简称"本所"）接受广州白云山医药集 团股份有限公司（以下简称"公司"）委托，指派刘子丰律师和曾思律师（以下简 称"本所律师"）对公司 2024 年第二次临时股东大会（以下简称"本次股东大会"） 的合法性进行见证并出具法律意见。 本所及本所律师依据《中华人民共和国证券法》（以下简称"《证券法》"）、 《律师事务所从事证券法律业务管理办法》和《律师事务所证券法律业务执业规 则（试行）》等规定及本法律意见书出具日以前已经发生或者存在的事实，严格 履行了法定职责，遵循了勤勉尽责和诚实信用原则，进行了充分的核查验证，保 证本法律意见所认定的事实真实、准确、完整，所发表的结论性意见合法、准确， 不存在虚假记载、误导性陈述或者重大遗漏，并承担相应法律责任。 本法律意见书根据《中华人民共和国公司法》(以下简称"《公司法》 ...

Financial Performance - Guangzhou Baiyunshan Pharmaceutical Group reported a significant increase in revenue, achieving a total of 10.5 billion RMB for the first half of 2024, representing a year-on-year growth of 12%[17]. - Operating revenue for the reporting period was RMB 41,042,815 thousand, an increase of 2.68% compared to the same period last year[18]. - The company achieved a revenue of RMB 41,042.8 million, representing a year-on-year increase of 2.68%[38]. - Total profit amounted to RMB 3,229,403 thousand, a decrease of 8.59% compared to the previous year[43]. - Net profit attributable to shareholders was RMB 2,549,565 thousand, reflecting a year-on-year decline of 9.31%[43]. - The company reported a significant increase in payable dividends, which rose by 243.82% to RMB 213,877 thousand as of June 30, 2024[70]. - The company reported a revenue of 61,264 million RMB for the current reporting period, compared to 59,764 million RMB in the previous period, indicating a growth of approximately 2.5%[197]. Dividend Distribution - The company plans to distribute a cash dividend of 4.00 CNY per 10 shares, totaling approximately 650.32 million CNY, which represents 25.51% of the net profit attributable to shareholders for the first half of 2024[5]. - The company does not plan to issue bonus shares or increase capital reserves during this dividend distribution[5]. - The company plans to distribute a cash dividend of RMB 650,316,379.60, equivalent to RMB 4.00 per 10 shares, by the end of November 2024[104]. Research and Development - Investment in R&D has increased by 20%, focusing on innovative drug development and advanced medical technologies, aiming to enhance product offerings[17]. - The total R&D expenses for the first half of 2024 were RMB 3.91 billion, with 12 new drug approvals obtained during this period[46]. - Research and development expenses totaled RMB 391,145 thousand, a decrease of 2.35% from the previous year[50]. - The group plans to significantly advance high-level technological self-reliance, optimizing various R&D platforms and expanding the product development pipeline, including innovative drug research and development[81]. Market Expansion and Strategy - Future outlook remains positive, with the company guiding for a revenue growth of 10-15% for the second half of 2024, driven by new product launches and market expansion strategies[17]. - The company is planning to expand its market presence in Southeast Asia, targeting a 25% increase in sales from this region by the end of 2025[17]. - The company is focused on maintaining its independence and avoiding competition with its controlling shareholder, ensuring operational integrity[145]. - The company aims to strengthen its international market presence by promoting the global brand of Wanglaoji and registering its formula internationally[80]. Financial Health and Ratios - Cash and cash equivalents as of June 30, 2024, amounted to RMB 14,471,487 thousand, down from RMB 19,823,544 thousand at the end of 2023[64]. - The company's current ratio was 1.52, slightly down from 1.55 at the end of 2023, while the quick ratio decreased to 1.20 from 1.23[63]. - The asset-liability ratio as of June 30, 2024, was 51.12%, a decrease from 53.33% as of December 31, 2023[77]. - The total liabilities decreased by 5.47% to RMB 34,251,472 thousand compared to the end of 2023[65]. Environmental Compliance - The company is classified as a key pollutant discharge unit, with specific monitoring of emissions from its pharmaceutical manufacturing facilities[114]. - The company has implemented pollution control measures to ensure emissions do not exceed standards, adhering to the Comprehensive Emission Standards for Air Pollutants[122]. - The company has established various pollution prevention facilities to manage emissions effectively and maintain compliance with environmental standards[122]. - The company has not faced any administrative penalties for environmental issues during the reporting period[136]. Corporate Governance - The company has adhered to the corporate governance requirements set by the China Securities Regulatory Commission and has implemented internal control and risk management systems to ensure compliance[107]. - During the reporting period, the company organized 4 shareholder meetings, 4 board meetings, 2 supervisory meetings, and various committee meetings to ensure effective governance and decision-making[108]. - The audit committee, composed of four independent non-executive directors, reviewed the accounting principles and methods adopted by the company, with no objections raised[112]. Commitments and Compliance - The company has committed to reducing or regulating related party transactions, ensuring that any necessary transactions are conducted at market prices and comply with legal regulations[168]. - The commitment to avoid substantial competition includes efforts to prevent unfair impacts on market share and resource allocation[148]. - The company guarantees strict adherence to all public commitments disclosed in the pharmaceutical company's public transfer statement[192]. - The commitment includes ensuring that any benefits obtained from unfulfilled commitments will belong to the company, with compensation for investor losses if applicable[192].

证券代码：600332 证券简称：白云山 公告编号：2024－061 广州白云山医药集团股份有限公司 关于分公司《药品生产许可证》变更的公告 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。 近日，广州白云山医药集团股份有限公司（以下简称"本公司"） 分公司广州白云山医药集团股份有限公司白云山化学制药厂（以下 简称"化学制药厂"）收到广东省药品监督管理局核准签发的《药 品生产许可证》，同意化学制药厂新增生产地址、生产车间、生产 线和生产范围，并通过药品生产质量管理规范检查。现将相关情况 公告如下： 一、《药品生产许可证》基本情况 企业名称：广州白云山医药集团股份有限公司白云山化学制药厂 许可证编号：粤 20160022 分类码：Dh 注册地址：广州市白云区同和街同宝路 78 号 三、对上市公司的影响与风险提示 发证机关：广东省药品监督管理局 有效期至：2025 年 11 月 8 日 生产地址和生产范围： 1、佛山市南海区里水镇北沙工业区，原料药及中间体合成（含 头孢类）；2、广州市白云区同和街同宝路 78 号，原料药（依托红霉 ...

Group 1: Dividend Policy - The company plans to implement a mid-year profit distribution plan for 2024, distributing a cash dividend of 4 CNY per 10 shares, totaling approximately 650 million CNY [2][7] - The company aims to ensure that the total cash dividends distributed (including mid-year dividends) will not be less than 30% of the net profit attributable to the parent company for the year [3][7] Group 2: Financial Management - The company has taken effective measures to manage accounts receivable and optimize inventory management, addressing the rising trend of accounts receivable and inventory since 2017 [3][4] - The company has been conducting accounts receivable asset securitization financing since 2021 to enhance asset liquidity and improve capital efficiency [3][4] Group 3: Product Marketing and Sales - The company plans to improve the marketing of its products, such as "Li Xiao Ji" and "Ci Ning Ji," by enhancing sales strategies across different channels and optimizing digital marketing efforts [4][5] - The retail pharmacy business has 157 outlets as of December 31, 2023, with a focus on prescription drug retail and community pharmacies [5][6] Group 4: Market Performance and Investor Relations - The company emphasizes the importance of market value management and has organized multiple roadshows and strategy meetings to enhance communication with investors [6][8] - The company has no current plans for share buybacks or acquisitions, but will disclose any future plans according to listing regulations [5][6]

白云山 2024 年第二次临时股东大会 广州白云山医药集团股份有限公司 2024 年第二次临时股东大会会议资料 2024 年 9 月 27 日 1 白云山 2024 年第二次临时股东大会 目 录 | 一、会议须知……………………………………………………3 | | --- | | 二、会议议程……………………………………………………5 | | 三、会议议案……………………………………………………6 | 2 白云山 2024 年第二次临时股东大会 广州白云山医药集团股份有限公司 2024 年第二次临时股东大会会议须知 为了维护广州白云山医药集团股份有限公司（以下简称"本公司" 或"公司"）全体股东的合法权益，确保本公司 2024 年第二次临时股东 大会（以下简称"临时股东大会"或"本次临时股东大会"）正常秩序和 议事效率，保证临时股东大会的顺利进行，依据有关法律法规、本公司 《广州白云山医药集团股份有限公司章程》（以下简称"《公司章程》"） 及《广州白云山医药集团股份有限公司股东大会议事规则》（以下简称 "《股东大会议事规则》"）的有关规定，特制订本须知。 一、本次临时股东大会由董事会依法负责筹备、召集及召开各项 ...

证券代码：600332 证券简称：白云山 公告编号：2024－060 受理号：CYHB2350409 剂型：胶囊剂 规格：0.25g（按C₃₈H₇₂N₂O₁₂计） 注册分类：化学药品 药品注册标准编号：YBH22102024 广州白云山医药集团股份有限公司 关于分公司药品通过仿制药一致性评价的公告 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。 近日，广州白云山医药集团股份有限公司（以下简称"公司"）分 公司广州白云山医药集团股份有限公司白云山制药总厂（以下简称"白 云山制药总厂"）收到国家药品监督管理局核准签发的《药品补充申请 批准通知书》，阿奇霉素胶囊已通过仿制药质量和疗效一致性评价。现 将相关情况公告如下： 一、药品的基本情况 药品通用名称：阿奇霉素胶囊 通知书编号：2024B04161 上市许可持有人：（1）名称：广州白云山医药集团股份有限公司白 云山制药总厂；（2）地址：广州市白云区同和街云祥路88号 生产企业：（1）名称：广州白云山医药集团股份有限公司白云山制 药总厂；（2）地址：广州市白云区同和街云祥路88号 2 ...

证券代码：600332 证券简称：白云山 公告编号：2024－059 广州白云山医药集团股份有限公司 关于子公司《药品生产许可证》变更的公告 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。 近日，广州白云山医药集团股份有限公司（以下简称"本公司"） 全资子公司广州白云山明兴制药有限公司（以下简称"明兴药业"） 收到广东省药品监督管理局核准签发的《药品生产许可证》，同意 明兴药业新增生产地址、生产范围、生产车间和生产线，并通过药 品生产质量管理规范符合性检查。现将相关情况公告如下： 一、《药品生产许可证》基本情况 企业名称：广州白云山明兴制药有限公司 许可证编号：粤 20160012 同意明兴药业新增生产地址"广州市白云区健旭三路 99 号"、 新增生产范围"硬胶囊剂、颗粒剂、原料药（人工牛黄）、中药前 处理及提取车间（口服制剂、注射制剂）"、新增生产车间"制造 五部、制造七部"、新增生产线"人工牛黄生产线、 硬胶囊剂生产 线、 颗粒剂生产线、中药前处理及提取（注射制剂）生产线、中药 前处理和提取（口服制剂）生产线"。经对制造七 ...

证券代码：600332 证券简称：白云山 公告编号：2024－058 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。 近日，广州白云山医药集团股份有限公司（以下简称"本公司"）全 资子公司广州白云山明兴制药有限公司（以下简称"明兴药业"） 收到 国家药品监督管理局签发的《药品补充申请批准通知书》，硝酸甘油注射 液（规格：1ml:5mg）已通过仿制药质量和疗效一致性评价。现将有关情 况公告如下： 一、药品的基本情况 1、药品名称：硝酸甘油注射液 2、通知书编号：2024B04121 广州白云山医药集团股份有限公司 关于子公司药品通过仿制药一致性评价的公告 3、受理号：CYHB2350593 4、剂型：注射剂 5、规格：1ml:5mg 6、注册分类：化学药品 7、上市许可持有人：（1）名称：广州白云山明兴制药有限公司；（2） 地址：广州市海珠区工业大道北 48 号 8、生产企业：（1）名称：广州白云山明兴制药有限公司；（2）地 11、审批结论：根据《中华人民共和国药品管理法》《国务院关于改 革药品医疗器械审评审批制度的意见》（国发 ...

Investment Rating - The report maintains a rating of "Accumulate" for the company [1][2] Core Views - The company reported a revenue of 41.04 billion RMB for H1 2024, a year-on-year increase of 2.7%, while the net profit attributable to shareholders was 2.55 billion RMB, a decrease of 9.3% [1][2] - The company plans to distribute a cash dividend of 0.40 RMB per share, totaling 650 million RMB, which accounts for 25.51% of the net profit for H1 2024 [2] - The company is focusing on a major brand strategy, with four business segments forming a complete industrial chain, enhancing brand value from pharmaceuticals to health products [2] Financial Summary - Revenue (in million RMB): - 2022A: 70,788 - 2023A: 75,515 - 2024E: 79,410 - 2025E: 83,117 - 2026E: 86,410 [1][5] - Net Profit (in million RMB): - 2022A: 3,967 - 2023A: 4,056 - 2024E: 4,245 - 2025E: 4,499 - 2026E: 4,739 [1][5] - EPS (in RMB): - 2022A: 2.44 - 2023A: 2.49 - 2024E: 2.61 - 2025E: 2.77 - 2026E: 2.92 [1][5] Business Segment Performance - Revenue by segment for H1 2024: - Traditional Chinese Medicine: 4.06 billion RMB, +8.2% YoY - Chemical Medicine: 2.12 billion RMB, -17.1% YoY - Health Products: 6.54 billion RMB, -7.2% YoY - Commercial Business: 27.82 billion RMB, +6.1% YoY [2] Profitability Metrics - Gross Margin for H1 2024: 19%, down 1.8 percentage points YoY [2] - Net Margin for H1 2024: 6.5%, down 0.8 percentage points YoY [2] - ROE (Return on Equity) projections: - 2024E: 11.3% - 2025E: 11.0% - 2026E: 10.6% [1][6]