证券代码：600436 证券简称：片仔癀 公告编号：2025-034 漳州片仔癀药业股份有限公司 第七届监事会第二十四次会议决议公告 1 / 2 金暨关联交易的公告》（2025-033 号）。 本议案无需提交至公司股东大会审议。 特此公告。 漳州片仔癀药业股份有限公司 监 事 会 本公司监事会及全体监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。 漳州片仔癀药业股份有限公司（以下简称"公司"）第七届监事 会第二十四次会议于 2025 年 9 月 28 日（星期日）上午 11：00 在公 司片仔癀大厦 21 楼会议室以通讯会议方式召开。会议通知和议案以 专人送达、电子邮件方式发出。本次会议应参加表决的监事 3 名，实 际表决的监事 3 名。会议召开符合《公司法》和《漳州片仔癀药业股 份有限公司章程》（以下简称"《公司章程》"）的有关规定，合法、 有效。本次会议由监事会主席许式彬先生主持，议案经与会监事审议， 做出如下决议： 一、审议通过《公司关于全资子公司与专业投资机构共同投资设 立中金医疗基金暨关联交易的议案》； 监事会认为：公司本次与中金资本运 ...

Group 1 - The company plans to invest in the CICC (Zhangzhou) Medical Industry Investment Partnership (tentative name), referred to as "CICC Medical Fund" [1] - The company's wholly-owned subsidiary, Zhangzhou Pianzaihuang Investment Management Co., Ltd., will act as a limited partner and contribute 200 million yuan, accounting for 20% of the target fundraising scale of the CICC Medical Fund [1] - The main investment areas of the fund include healthcare investments, focusing on traditional Chinese medicine, biomedicine, medical devices, medical services, daily chemical beauty products, and health and wellness industries [1] Group 2 - The fund will invest in projects related to the Pianzaihuang industry chain, Pianzaihuang industrial park, and projects that attract investment to Zhangzhou [1]

截至发稿，片仔癀市值为1190亿元。 每经头条（nbdtoutiao）——去美国的"打工人"天塌了！特朗普10万美元签证费击碎"美国梦"，美企加 速外包，加拿大趁机"抢人" （记者 王晓波） 每经AI快讯，片仔癀（SH 600436，收盘价：197.26元）9月28日晚间发布公告称，杨海鹏先生因工作调 整原因，辞去公司董事及总会计师等职务。辞职后，杨海鹏先生仍担任顾问职务。 2025年1至6月份，片仔癀的营业收入构成为：医药制造业占比55.5%，医药流通业占比36.76%，化妆品 和护肤品占比5.95%，其他占比1.53%，其他业务占比0.25%。 ...

Group 1 - The company plans to invest in the CICC (Zhangzhou) Medical Industry Investment Partnership (tentative name, referred to as "CICC Medical Fund") [1] - The company's wholly-owned subsidiary, Zhangzhou Pianzaihuang Investment Management Co., Ltd., will act as a limited partner and contribute 200 million yuan, accounting for 20% of the target fundraising scale of the CICC Medical Fund [1] - The main investment areas of the fund include healthcare investments, focusing on traditional Chinese medicine, biomedicine, medical devices, medical services, daily chemical beauty products, and health and wellness industries [1]

Core Insights - The "2025 Hong Kong International Traditional Chinese Medicine Conference" was held in Hong Kong, focusing on promoting high-quality TCM globally, attracting nearly 500 experts and representatives from various regions [1] - The conference received strong support from the National Administration of Traditional Chinese Medicine and the Hong Kong government, aiming to build a high-end platform for collaboration and cultural exchange in the TCM industry [2] - Pianzaihuang Company showcased its core products at the conference, highlighting its efforts in modernizing and internationalizing traditional Chinese medicine [1][5] Group 1: Industry Development - The conference emphasized the importance of collaboration in the TCM industry, launching the "High-Quality Development of the Traditional Chinese Medicine Industry Chain" initiative, with Pianzaihuang Company as a key signatory [2] - Pianzaihuang is recognized as a leading brand in the TCM sector, consistently ranking among the top exporters of Chinese patent medicines [3] Group 2: Product Showcase - Pianzaihuang's exhibition featured a range of traditional Chinese medicines and health products, attracting significant attention from industry experts and media, enhancing its brand recognition in the Greater Bay Area and international markets [4] - The company received positive feedback for its commitment to preserving traditional techniques while promoting technological innovation in its products [4] Group 3: Strategic Goals - The participation in the conference is part of Pianzaihuang's strategy to accelerate the internationalization of TCM and expand its global influence [5] - The company aims to leverage Hong Kong's unique position as a cultural bridge to enhance its international partnerships and explore overseas opportunities [5]

Investment Rating - The report does not explicitly provide an investment rating for the beauty industry Core Insights - The beauty industry is experiencing a significant transformation driven by consumer preferences for high-quality, effective products and the integration of technology in skincare and cosmetics [4][6][10] Industry Trends - The high-end fragrance segment is witnessing robust growth, with the Chinese perfume market projected to reach 24.9 billion yuan by 2025 and exceed 33.9 billion yuan by 2028, reflecting a compound annual growth rate of 8% [4] - Domestic beauty brands are focusing on scientific innovation, market segmentation, and globalization to enhance competitiveness [6][7] - The integration of medical aesthetics and beauty is becoming a trend, with a projected annual growth rate of 10%-15% for the medical aesthetics market from 2024 to 2027 [10] - The beauty market is seeing a shift towards multi-brand strategies, with companies like Proya and Shiseido leading the way [6][11] Market Environment - Douyin e-commerce is revitalizing the perception of "Chinese good ingredients," enhancing consumer trust in domestic skincare products through educational campaigns [4] - The domestic beauty market grew by 3.1% in the first half of 2025, with significant performance disparities among companies [6] - The trend of "reverse export" to South Korea is emerging, as domestic brands seek to penetrate the Korean market through differentiated product offerings [6] Top Brand Dynamics - Proya leads the domestic beauty market with a revenue of 5.36 billion yuan, followed closely by other major players [11] - The report highlights the rise of makeup artist brands, with Unilever investing in Hung Vanngo Beauty, indicating a growing interest in professional makeup lines [13] - L'Oréal is accelerating its presence in the fragrance market with the launch of high-end perfumes, reflecting a strategic shift towards premium products [14] - The beauty industry is witnessing a surge in e-commerce, with platforms like JD.com reporting double-digit growth in beauty sales [18]

Core Insights - The 2025 China Fragrance, Flavor, and Cosmetics Industry Annual Conference and Boutique Expo was held from September 25 to 27 in Nanjing, showcasing the innovation strength of the Chinese cosmetics industry [1] - Pizhou Pharmaceutical's cosmetics division presented its key products, including the Snow Skin Whitening series and the Golden Line Lotus Repair series, emphasizing technological innovation in traditional herbal ingredients [1][2] Company Highlights - Pizhou Pharmaceutical has established a comprehensive research system integrating production, learning, research, medicine, and testing, with five major research centers focused on Chinese ingredient innovation [1] - The company holds 34 special certificates for spot removal and whitening, demonstrating its commitment to research and development over 45 years [1] - The Snow Skin Whitening series, developed over ten years, utilizes Chinese ingredients to achieve healthy and fair skin through a coordinated approach with scientific components [2] - The Golden Line Lotus Repair series focuses on sensitive skin barrier repair, utilizing self-researched lotus extract and a standardized planting base in Zhangzhou [2] - The company employs modern extraction technologies to enhance the efficacy of traditional ingredients, such as using supercritical CO2 extraction for ginseng [2] Industry Trends - The event highlighted a shift in the industry from traffic competition to a dual-driven value competition model of "technology + brand" [2] - Pizhou Pharmaceutical is recognized as a "Golden Partner" by the China Fragrance and Cosmetics Association, indicating its growing influence and competitive edge in the market [2]

Market Overview - The Chinese medicine sector experienced a decline of 0.36% on September 25, with Enwei Pharmaceutical leading the drop [1] - The Shanghai Composite Index closed at 3853.3, down 0.01%, while the Shenzhen Component Index closed at 13445.9, up 0.67% [1] Stock Performance - Notable gainers included: - Weikang Pharmaceutical, closing at 25.25 with a rise of 9.83% and a trading volume of 135,600 shares, totaling 329 million yuan [1] - Yisheng Pharmaceutical, closing at 7.98 with a rise of 1.53% and a trading volume of 80,000 shares, totaling 6.41 million yuan [1] - Major decliners included: - Enwei Pharmaceutical, closing at 32.25 with a drop of 3.09% and a trading volume of 8,950 shares, totaling 2.91 million yuan [2] - Zhendong Pharmaceutical, closing at 6.85 with a drop of 2.97% and a trading volume of 508,400 shares [2] Capital Flow - The Chinese medicine sector saw a net outflow of 462 million yuan from institutional investors, while retail investors contributed a net inflow of 315 million yuan [2] - The table of capital flow indicates that: - Wanbangde had a net inflow of 23.44 million yuan from institutional investors, but a net outflow of 29.29 million yuan from retail investors [3] - Jilin Aodong experienced a net inflow of 21.10 million yuan from institutional investors, with outflows from both retail and speculative investors [3]

Core Viewpoint - Fujian is leveraging high-quality supply to create effective demand, showcasing a comprehensive expansion of domestic demand through various innovative and cultural initiatives [2][6]. Economic Performance - In the first half of the year, Fujian's GDP grew by 5.7% year-on-year, with total retail sales of consumer goods reaching 1.256 trillion yuan, marking a 6% increase compared to the previous year, and accelerating by 0.6 percentage points from the first quarter [2]. Technological Innovation - Companies like Panpan Foods are upgrading their production processes through smart technologies such as AI and IoT, achieving precision and automation in food processing. They are also investing in innovative health-oriented products, including low GI baked goods and new Chinese-style health drinks [3]. - The Frog Prince Group is enhancing its children's personal care products through digital transformation and smart upgrades, achieving a production rate of 78 bottles per minute on their automated lines [3]. Cultural and Experiential Offerings - The Pizaihuang Pharmaceutical Company is expanding its product line to include health-related items, reflecting a shift towards a broader health industry while maintaining its traditional product offerings [4]. - The Shunmei Ceramics workshop in Dehua is integrating cultural experiences into its offerings, attracting over 200,000 visitors annually to engage in hands-on pottery making [4]. Tourism and Community Development - Xunpu Village has transformed into a popular tourist destination, attracting over 4.26 million visitors in the first seven months of the year, generating tourism consumption exceeding 860 million yuan through immersive cultural experiences [5]. - The community in Siming District, Xiamen, is enhancing local services with nearly 2,000 shops, improving residents' quality of life and satisfaction through a well-developed local economy [6].

Core Insights - Fujian province is experiencing a robust economic growth with a GDP increase of 5.7% year-on-year in the first half of the year, and a retail sales total of 1.256 trillion yuan, reflecting a 6% increase, which is accelerating consumer-driven economic growth [1] Group 1: Supply and Demand Dynamics - The region is focusing on high-quality supply to stimulate demand, showcasing a diverse range of industries from traditional crafts to modern technology [1] - The integration of traditional techniques with modern technology is evident in companies like Dehua Shunmei Ceramics, which combines cultural creativity with ceramic products, attracting over 200,000 visitors annually [3] Group 2: Technological Advancements - Companies like Jianjiang Panpan Food are leveraging AI, 5G, and IoT technologies to enhance food processing, achieving precision and automation in production [2] - The introduction of innovative health-focused products, such as low GI baked goods and new Chinese-style health drinks, is part of a broader trend towards health-conscious consumerism [2] Group 3: Cultural and Experiential Offerings - The tourism sector in places like Xunpu Village is thriving, with over 4.26 million visitors in the first seven months of the year, generating over 860 million yuan in tourism consumption through immersive cultural experiences [4] - The establishment of community-centric services in Xiamen, including a variety of shops and upgraded electrical infrastructure, enhances residents' quality of life and supports local businesses [4] Group 4: Market Trends and Future Outlook - The emphasis on high-quality supply is seen as a key driver for market demand and economic development, indicating a vibrant and promising future for the Fujian economy [5]