Core Viewpoint - Pianzaihuang has invested 200 million yuan to establish an investment fund, marking its continued collaboration with related parties in the health industry [2][4][6]. Investment Activities - Pianzaihuang's wholly-owned subsidiary, Pianzaihuang Investment, plans to invest in the Zhangzhou Gaoxin Runxin Health Industry Investment Partnership, contributing 200 million yuan, which represents 20% of the fund's target size [2]. - This is not the first time Pianzaihuang has partnered with related parties to set up funds; in September 2024, it announced a similar investment in the Zhangzhou Yuanshan Health Industry Investment Fund, also contributing 200 million yuan for a 20% stake [4]. - In November of the same year, Pianzaihuang Investment participated in the establishment of the "Pianzaihuang Yingke Fund," investing 290 million yuan for a 29% share [6]. - In March of this year, Pianzaihuang announced another investment of 200 million yuan in the Zhaoying Fund, which has a planned scale of 1 billion yuan, focusing on biomedicine and medical services [8]. Strategic Goals - The company aims to leverage fund investments to enhance its integration capabilities across the industry chain, promote resource sharing, and stimulate innovation, all while ensuring the stability of its core business [8]. - Pianzaihuang's major shareholder, Jiulongjiang Group, has been a key contributor in the funds established by Pianzaihuang, indicating a strong alignment in strategic interests [10][12]. Financial Performance - In the first quarter of this year, Pianzaihuang reported revenue of 3.142 billion yuan, a year-on-year decline of 0.92%, marking its first quarterly negative growth in nearly a decade [15]. - The company's net profit attributable to shareholders was 1 billion yuan, reflecting a year-on-year increase of 2.59% [15]. - The gross margin has been under pressure, particularly in the liver disease medication segment, which saw a decrease of 12.39 percentage points [15][16]. Raw Material Costs - The increase in raw material costs has significantly impacted profit margins, with the price of natural cow bile remaining high at 1.6 million yuan per kilogram [17]. - Pianzaihuang plans to closely monitor changes in raw material prices and industry policies to improve risk management and enhance profitability [17].

Core Viewpoint - The company is actively seeking new growth points by investing in the healthcare sector through the establishment of the GaoXin RunXin Fund, which aims to enhance industrial synergy and competitive capabilities while ensuring the development of its main business [1][2]. Investment Details - The GaoXin RunXin Fund has a total scale of 1 billion yuan, with an initial operating period of 7 years, extendable twice for 1 year each [1]. - The fund's primary investment areas include pharmaceuticals, medical devices, healthcare supply chains, health food, synthetic biology, chemical materials, and consumer healthcare, with investments outside healthcare limited to 10% of the fund's total commitment [1]. - The company plans to contribute 200 million yuan, representing 20% of the fund's target fundraising scale, while other partners include CITIC Securities Capital Management and Zhangzhou GaoXin Development Co., Ltd. [1][2]. Strategic Implications - The investment in the GaoXin RunXin Fund is part of the company's strategic development, aimed at leveraging professional investment resources to accelerate the concentration of the pharmaceutical industry and enhance integration capabilities along the supply chain [2]. - The fund is managed by CITIC Securities Capital Management, which has extensive experience in the healthcare investment sector, facilitating deep integration of industry and capital [2]. Financial Considerations - The investment will not be included in the company's consolidated financial statements and will be funded through the company's own or raised funds, ensuring that it does not adversely affect the company's financial and operational status [3]. - The company maintains a stable profitability and low debt ratio, with sufficient bank credit lines, allowing for this investment without impacting normal business operations [3].

（文章来源：证券日报） 证券日报网讯 8月6日晚间，片仔癀发布公告称，公司第七届监事会第二十二次会议审议通过了《公司 关于全资子公司与专业投资机构共同投资设立高鑫润信基金暨关联交易的议案》。 ...

8月6日晚间，片仔癀(600436)披露关于投资参与高鑫润信基金的公告。近日，全资子公司漳州片仔癀投 资管理有限公司(下称"片仔癀投资")与中信建投资本管理有限公司等头部企业拟共同投资设立漳州高鑫 润信大健康产业投资合伙企业(有限合伙)，募资总额10亿元。 值得一提的是，由漳州圆山大健康产业基金投资的上市公司广生堂(300436.SZ)，因其慢性乙肝治疗新 药出色的Ⅱ期临床数据，在此轮创新药估值修复中被资本市场高度认可。据统计，自2024年11月14日广 生堂完成权益变动，圆山基金正式入股成为其前十大股东之一，持股比例5.02%，至今年8月4日收盘， 广生堂股价已实现了超过300%的上涨，成为中药企业向创新药战略延伸的典型案例。 作为有限合伙人，片仔癀投资将以自有资金认缴出资2亿元，占高鑫润信基金目标募集规模的比例为 20%。 公告指出，高鑫润信基金拟投资领域，包含药品、医疗器械、医疗健康上游供应链及零部件、食品保健 品、合成生物、化工材料、消费医疗等大健康相关领域，医疗健康以外的其他领域投资占比不超过本基 金认缴出资规模的10%。 值得关注的是，此次设立发起的高鑫润信基金是漳州市"圆山计划"的一环。据了解， ...

监事会认为：公司本次与中信建投资本管理有限公司共同投资高 鑫润信基金暨关联交易事项符合公司长期发展战略，有利于提升公司 核心竞争力和整体价值。本次关联交易遵循公平、自愿、公允的原则， 相关审议及决策程序合法合规，不存在损害公司和中小股东利益的情 形。 参加表决的监事 5 票同意,0 票反对，0 票弃权。议案内容详见公 司同日在上海证券交易所网站披露的《公司关于投资参与高鑫润信基 金暨关联交易的公告》（2025-022 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 第七届监事会第二十二次会议决议公告 证券代码：600436 证券简称：片仔癀 公告编号：2025-023 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 会第二十二次会议于 2025 年 8 月 6 日（星期三）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 5 名，实际 表决的 ...

关于投资参与高鑫润信基金暨关联交易的公告 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。 重要内容提示： ? 拟投资标的名称：漳州高鑫润信大健康产业投资合伙企业（有 限合伙）（暂定名，以工商注册为准；以下简称"高鑫润信基金"）。 ? 拟投资领域：本基金的主要投资领域为医疗健康领域，包含药 品、医疗器械、医疗健康上游供应链及零部件、食品保健品、合成生 物、化工材料、消费医疗等大健康相关领域，医疗健康以外的其他领 域投资占比不超过本基金认缴出资规模的 10%。 证券代码：600436 证券简称：片仔癀 公告编号：2025-022 漳州片仔癀药业股份有限公司 ? 拟投资金额：漳州片仔癀药业股份有限公司（以下简称"公司" 全资子公司漳州片仔癀投资管理有限公司（以下简称"片仔癀投资"） 拟作为有限合伙人以自有或自筹资金认缴出资人民币 20,000 万元， 占高鑫润信基金目标募集规模的比例为 20%。 ? 本次对外投资系与关联方漳州片仔癀资产经营有限公司（以下 简称"资产经营"）、漳州市旅游投资集团有限公司（以下简称"旅 投集团"）共同投 ...

Core Viewpoint - The company, Pianzaihuang (600436.SH), is actively seeking new growth points within the health industry chain while ensuring the development of its main business by investing in the Zhangzhou Gaoxin Runxin Health Industry Investment Partnership (Limited Partnership) with a target fundraising scale of 1 billion yuan [1] Group 1: Investment Details - The company’s wholly-owned subsidiary, Pianzaihuang Investment, plans to invest 200 million yuan, accounting for 20% of the target fundraising scale of the Gaoxin Runxin Fund [1] - The primary investment areas of the fund include the healthcare sector, covering pharmaceuticals, medical devices, upstream supply chains, health food, synthetic biology, chemical materials, and consumer healthcare [1] - Investments outside the healthcare sector will not exceed 10% of the fund's subscribed capital [1]

证券代码：600436 证券简称：片仔癀 公告编号：2025-022 漳州片仔癀药业股份有限公司 重要内容提示： 拟投资标的名称：漳州高鑫润信大健康产业投资合伙企业（有 限合伙）（暂定名，以工商注册为准；以下简称"高鑫润信基金"）。 拟投资领域：本基金的主要投资领域为医疗健康领域，包含药 品、医疗器械、医疗健康上游供应链及零部件、食品保健品、合成生 物、化工材料、消费医疗等大健康相关领域，医疗健康以外的其他领 域投资占比不超过本基金认缴出资规模的 10%。 拟投资金额：漳州片仔癀药业股份有限公司（以下简称"公司"） 全资子公司漳州片仔癀投资管理有限公司（以下简称"片仔癀投资"） 拟作为有限合伙人以自有或自筹资金认缴出资人民币 20,000 万元， 占高鑫润信基金目标募集规模的比例为 20%。 本次对外投资系与关联方漳州片仔癀资产经营有限公司（以下 简称"资产经营"）、漳州市旅游投资集团有限公司（以下简称"旅 投集团"）共同投资，构成关联交易，但未构成《上市公司重大资产 重组管理办法》规定的重大资产重组。 1 关于投资参与高鑫润信基金暨关联交易的公告 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 ...

1 / 2 金暨关联交易的公告》（2025-022 号）。 本议案无需提交至公司股东大会审议。 证券代码：600436 证券简称：片仔癀 公告编号：2025-023 漳州片仔癀药业股份有限公司 第七届监事会第二十二次会议决议公告 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 会第二十二次会议于 2025 年 8 月 6 日（星期三）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 5 名，实际 表决的监事 5 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 立高鑫润信基金暨关联交易的议案》； 监事会认为：公司本次与中信建投资本管理有限公司共同投资高 鑫润信基金暨关联交易事项符合 ...

Group 1 - The core viewpoint of the article is that the company Pianzaihuang (600436.SH) is actively seeking new growth points by investing in the healthcare industry, specifically through the establishment of the GaoXinRunXin Fund with a target fundraising scale of 1 billion yuan [1] - The company’s wholly-owned subsidiary, Pianzaihuang Investment, plans to contribute 200 million yuan, which represents 20% of the fund's target size [1] - The GaoXinRunXin Fund will primarily invest in the healthcare sector, including pharmaceuticals, medical devices, upstream supply chains, health food, synthetic biology, chemical materials, and consumer healthcare, with investments outside the healthcare sector not exceeding 10% of the fund's total contributions [1]