漳州片仔癀药业股份有限公司关于会计师 事务所 2024 年度履职情况的评估报告 漳州片仔癀药业股份有限公司（以下简称"公司"）聘请致同会 计师事务所(特殊普通合伙)（以下简称"致同所"）作为公司 2024 年 度财务报告审计机构、内部控制审计机构。 根据《国有企业、上市公司选聘会计师事务所管理办法》等相关 规定和要求，公司对致同所 2024 年审计过程中的履职情况进行评估。 经评估，公司认为，近一年致同所资质等方面合规有效，履职保持独立 性，勤勉尽责，能够公允、合理的表达意见，客观的出具专业报告。具 体情况如下： 一、资质条件 致同所成立于 1981 年，前身是北京会计师事务所，2011 年 12 月 22 日经北京市财政局批准转制为特殊普通合伙，2012 年更名为致同会 计师事务所（特殊普通合伙），注册地址为北京市朝阳区建国门外大街 22 号赛特广场五层，首席合伙人为李惠琦。 截至 2024 年末，致同所拥有合伙人 239 名、注册会计师 1,359 名、 其中签署过证券服务业务审计报告的注册会计师人数超过 400 名。致同 所主要行业涉及制造业；信息传输、软件和信息技术服务业；批发和零 售业；电力、热力、 ...

证券代码：600436 证券简称：片仔癀 公告编号：2025-010 漳州片仔癀药业股份有限公司 关于续聘会计师事务所的公告 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： 拟续聘会计师事务所名称：致同会计师事务所（特殊普通合伙） （以下简称"致同所"） 本事项经公司第七届董事会第二十八次会议审议通过，尚需提 交至公司 2024 年年度股东大会审议。 漳州片仔癀药业股份有限公司（以下简称"公司"）第七届董事 会第二十八次会议，审议通过《公司关于聘任会计师事务所及确定其 报酬事项的议案》，同意续聘致同所为公司 2025 年度财务报告审计和 内部控制审计机构，预计 2025 年度支付财务报告审计和内部控制审 计服务费总额为人民币 139 万元；其中，财务审计服务费为人民币 109 万元（含子公司），内控审计服务费为人民币 30 万元，其他审计 费用按其实际发生数额计算。 一、拟聘任会计师事务所的基本情况 （一）机构信息 1、基本信息 会计师事务所名称：致同会计师事务所（特殊普通合伙） 成立日期：2011 年 12 ...

漳州片仔癀药业股份有限公司 一、经营发展成果 （一）经营业绩：2024 年公司实现合并营业收入约 107.88 亿元， 比增 7.25%；实现归母净利润约 29.77 亿元，比增 6.42%；实现上缴 税收约 11.73 亿元。 （二）企业荣誉：公司连续两年入选国务院国资委"双百企业" 名单；上榜"福建省制造业领航企业"；获评"全国中医药文化宣传 教育基地""两化融合管理体系评定证书(评 A 级)""2024 中成药 工业综合竞争力 50 强""2024 医药工业综合竞争力百强榜"等多项 荣誉。 （三）品牌荣誉：蝉联胡润"2023 医疗健康品牌价值"和"2024 中国最具历史文化底蕴品牌榜"榜首，位列胡润"历史最久品牌TOP10" 第 5 位、"2024 年中华老字号品牌榜"第 2 位、"福建省老字号品 1 / 14 牌价值"第 1 位、"2024 健康产业品牌榜"第 3 名；入选"2024 中 国品牌创新案例""2024 党建引领老字号高质量发展案例"；获评 "福建品牌价值评价示范单位""2024 外国人喜爱的中国品牌""点 赞 2024 我喜爱的中国品牌"；片仔癀产品荣获"2024 肝胆用药品牌 榜金奖" ...

漳州片仔癀药业股份有限公司 2024 年度审计委员会履职情况报告 各位董事、监事、高级管理人员： 根据《上市公司治理准则》《上海证券交易所上市公司自律监管 指引第 1 号——规范运作》《漳州片仔癀药业股份有限公司章程》（以 下简称"《公司章程》"）、《漳州片仔癀药业股份有限公司董事会审计 委员会工作细则》等相关规定，作为漳州片仔癀药业股份有限公司（以 下简称"公司"）的审计委员会委员，我们本着勤勉尽责的原则，对 公司 2024 年度的相关事项进行认真审核，积极发挥审计委员会的监 督职能。现将 2024 年度审计委员会的履职情况汇报如下： 一、审计委员会基本情况 公司审计委员会现由独立董事张磊先生、独立董事杜守颖女士及 非执行董事赖文宁先生组成，其中张磊先生为主任委员。 独立董事成员占审计委员会成员总数的 1/2 以上，独立董事张磊 先生具备较丰富的会计专业知识和经验，并持有经济学学士学位和注 册会计师职称；独立董事杜守颖女士具备较丰富的中药专业知识和经 验，并持有中药学博士学位和中药制剂专业教授职称；符合相关法律 法规中关于审计委员会人数比例和专业配置的要求。 审计委员会召开通讯会议，审议通过《关于开展 20 ...

漳州片仔癀药业股份有限公司董事会审计 委员会对会计师事务所 2024 年度履行监督 职责情况的报告 根据《国有企业、上市公司选聘会计师事务所管理办法》等相 关规定和要求，漳州片仔癀药业股份有限公司（以下简称"公司"） 董事会审计委员会勤勉尽职、认真履职。现将董事会审计委员会对致 同会计师事务所(特殊普通合伙)（以下简称"致同所"）2024 年度 审计工作履行监督职责的情况汇报如下： 一、2024 年度会计师事务所基本情况 （一）会计师事务所基本情况 致同所成立于 1981 年，前身是北京会计师事务所，2011 年 12 月 22 日经北京市财政局批准转制为特殊普通合伙，2012 年更名为致 同会计师事务所（特殊普通合伙），注册地址为北京市朝阳区建国门 外大街 22 号赛特广场五层，首席合伙人为李惠琦。 经审计，致同所认为公司财务报表在所有重大方面按照企业会计 准则的规定编制，公允反映了公司 2024 年 12 月 31 日的合并及母公 司财务状况以及 2024 年度的合并及母公司经营成果和现金流量；公 司按照《企业内部控制基本规范》和相关规定在所有方面保持了有效 的财务报告内部控制。致同所严格遵守国家相关的法 ...

漳州片仔癀药业股份有限公司董事、监事和 高级管理人员关于公司 2024 年年度报告的确认意见 根据《中华人民共和国证券法（2019 年修订）》《公开发行证 券的公司信息披露内容与格式准则第 2 号--年度报告的内容与格式 （2021 年修订）》和《上海证券交易所股票上市规则（2024 年修订）》 等相关规定和要求，作为漳州片仔癀药业股份有限公司的董事、监事 和高级管理人员，我们在全面了解和审核公司 2024 年年度报告后， 发表意见如下： 1、 公司严格按照股份制公司的财务制度规范运作，《公司2024 年度报告及摘要》的编制符合法律、行政法规、《漳州片仔癀药业股 份有限公司章程》及公司内部管理制度的各项规定，《公司 2024 年 度报告及摘要》公允、真实、全面地反映了公司 2024 年的财务状况 和经营成果。 2、 公司第七届董事会第二十八次会议、第七届监事会第二十 次会议审议通过《公司 2024 年度报告及摘要》的议案。 3、 公司全体董事、监事和高级管理人员保证《公司 2024 年度 报告及摘要》所披露的信息真实、准确、完整，承诺其中不存在任何 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 ...

Financial Performance - The company's operating revenue for 2024 reached ¥10,787,863,091.37, an increase of 7.25% compared to ¥10,058,497,338.92 in 2023[26]. - The net profit attributable to shareholders for 2024 was ¥2,977,002,486.34, reflecting a growth of 6.42% from ¥2,797,351,515.70 in the previous year[26]. - Basic earnings per share for 2024 were ¥4.93, up 6.25% from ¥4.64 in 2023[27]. - The weighted average return on equity for 2024 was 21.36%, a decrease of 1.28 percentage points from 22.64% in 2023[27]. - The company achieved total revenue of 10.79 billion RMB, an increase of 7.25% year-on-year, with a net profit of 2.996 billion RMB, up 5.06% year-on-year[59]. - The company’s total assets reached 17.54 billion RMB, with equity attributable to shareholders amounting to 14.27 billion RMB[59]. Dividend Distribution - The cash dividend distribution plan proposes a cash dividend of ¥18.20 per 10 shares, totaling ¥1,098,037,322.20, which accounts for 36.88% of the net profit attributable to shareholders[8]. - The total cash dividend for 2024, including interim distributions, amounts to ¥1,791,852,113.70, representing 60.19% of the net profit attributable to shareholders[8]. - The company approved a cash dividend of 23.20 CNY per 10 shares, totaling 1,399,695,927.20 CNY, which represents 50.04% of the net profit attributable to shareholders in the consolidated financial statements for 2023[184]. - The cash dividend amount (including tax) is CNY 1,791,852,113.70, which accounts for 60.19% of the net profit attributable to ordinary shareholders in the consolidated financial statements[188]. Cash Flow and Expenses - The net cash flow from operating activities decreased by 40.4% to ¥1,313,708,033.92 from ¥2,206,631,519.26 in 2023, primarily due to increased cash payments for raw materials[26][29]. - The company’s sales expenses decreased by 33.88% year-on-year, amounting to 517.55 million RMB, primarily due to reduced promotional and advertising costs[60]. - The company’s investment activities generated a net cash flow of 1.32 billion RMB, a significant increase compared to the previous year[61]. - The company reported a significant increase in inventory levels, with a stock increase of 93.64% year-over-year[69]. Research and Development - The company increased its R&D expenses and marketing costs, contributing to the decline in net profit due to changes in revenue structure, particularly in the pharmaceutical manufacturing sector[31]. - Research and development expenses increased by 16.02% year-on-year, totaling 269.59 million RMB, reflecting the company's commitment to innovation[60]. - The company is committed to R&D in innovative drugs, focusing on chronic and difficult-to-treat diseases, while managing associated risks throughout the drug development lifecycle[139]. - The company has a pipeline of innovative products, including new formulations and indications for existing drugs, which are expected to strengthen its market position[102]. Market and Product Development - The company is focusing on expanding its product line, including the successful market launch of "Pian Zai Huang" brand An Gong Niu Huang Wan, which utilizes traditional production techniques[53]. - The company plans to continue developing its cosmetics line, focusing on traditional Chinese ingredients and expanding its market presence in the health and beauty sector[55]. - The company is enhancing its technological capabilities by establishing partnerships with over 10 academicians and building key research platforms with prestigious institutions[40]. - The company has launched two investment funds with a total scale of 1 billion yuan each, focusing on traditional Chinese medicine, biomedicine, and health-related industries[45]. Corporate Governance - The company held 2 shareholder meetings during the reporting period, with all resolutions passed[149]. - The company disclosed 4 regular reports and 52 numbered announcements, totaling 89 documents, and received multiple awards for investor relations management[145]. - The board of directors held 9 meetings and 17 meetings of its specialized committees, ensuring independent directors provided professional opinions on key matters[144]. - The company has established a differentiated authorization system to enhance decision-making efficiency and operational effectiveness[145]. Environmental and Social Responsibility - The company invested CNY 435.89 million in environmental protection during the reporting period[198]. - The total wastewater discharge during the reporting period was 31,283.5 tons, and carbon emissions amounted to 6,879.09 tCO2e[200]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[199]. - The company has established a comprehensive internal control system to enhance risk prevention and compliance awareness among employees[192]. Strategic Initiatives - The company plans to establish multiple new clinics and has recruited over 200 external medical experts, including six national medical masters, to enhance its healthcare services[45]. - The company is actively pursuing regulatory approvals for its products, with several applications submitted for supplementary registration and clinical trials[105]. - The company aims to enhance brand exposure through new media marketing strategies, including collaborations with influencers and KOLs to reach target consumer groups[132]. - The company is committed to maintaining its research and development leadership position, guided by market demands[97].

现代研究表明，牛黄具有广泛的药理作用。牛黄为许多常用或名贵中成药的重要配方 组成之一，例如牛黄上清丸、牛黄解毒片、牛黄降压丸、安宫牛黄丸、片仔癀、至宝 丹等。 艾媒咨询CEO兼首席分析师张毅告诉2 1世纪经济报道记者，早期试点进口量相对不大，对同 仁堂、片仔癀等高端中成药企业是重大利好，缓解原材料供应风险，稳定产品产能，满足大型 企业生产需求。长期则可能形成供应链分层化，中小药企天然牛黄原材料获取能力较弱，会倒 逼其在差异化市场发力。 作 者丨李佳英 编 辑丨季媛媛 图 源丨IC p h o t o 近日，国家药监局、海关总署联合发布《关于允许进口牛黄试点用于中成药生产有关事项的公 告》，宣布开展牛黄进口使用试点，对于来自不存在疯牛病疫情禁令国家（地区），且符合我 国海关检疫要求和药品质量检验要求的牛黄，允许其试点用于中成药生产。 紧接着，海关总署公告称， 自2 0 2 5年4月2 3日起，允许符合要求的阿根廷牛黄进口 。 牛黄究竟为何物？其源于动物牛的干燥胆结石，始载于《神农本草经》，具有清心、 豁痰、开窍、凉肝、息风、解毒之功效，用于热病神昏、中风痰迷、惊痫抽搐、癫痫 发狂、咽喉肿痛、口舌生疮等。 仅从原 ...

Core Insights - The article highlights the challenges faced by the Chinese traditional medicine company, Pianzaihuang, including slowing growth of core products, rising raw material costs, and changing policy environments, prompting the need for diversification [6][12]. Financial Performance - Pianzaihuang reported a revenue of 10.768 billion yuan for 2024, a year-on-year increase of 7.06%, and a net profit of 2.974 billion yuan, up 6.32%, indicating a significant slowdown in growth [7]. - In Q2 2024, net profit decreased by 3.11% year-on-year, contrasting with market expectations for rapid growth [7]. - The company's revenue growth for 2023 was only 15.69%, with net profit growth dropping to 13.04%, well below the previous average of over 20% [8]. Pricing Strategy and Market Dynamics - Pianzaihuang has raised prices of its products 21 times since 1999, with the price of its pills increasing from 115 yuan to 760 yuan per pill, a nearly sixfold increase [7]. - However, the acceptance of high-priced medications has reached a bottleneck, with reports indicating that the market price for some products has fallen below 500 yuan per pill [8]. Raw Material Dependency - The company relies heavily on raw materials, with over 90% of costs attributed to natural musk and cow bile, whose prices have surged significantly since 2019 [8]. - The price of natural cow bile rose from 350,000 yuan per kilogram in 2019 to 1.65 million yuan per kilogram in 2025, a 371% increase [8]. Diversification Strategy - Pianzaihuang's "one core, two wings" strategy aims to extend its core pharmaceutical business into cosmetics, health products, and medical devices, but progress has been slow [9]. - The cosmetics segment generated only 707 million yuan in revenue in 2023, and plans for a separate listing have faced regulatory delays [9][10]. Acquisition Attempts - The company attempted to acquire a stake in Mingyuan Fragrance to enhance its health product portfolio, but the acquisition faced scrutiny and was postponed [10]. Research and Development - Pianzaihuang's R&D expenditure was only 232 million yuan in 2023, representing just 2.31% of revenue, significantly lower than leading pharmaceutical companies [11]. - The company has potential new drugs in its pipeline, but the lengthy approval process means they are unlikely to contribute to short-term performance [11]. Supply Chain Initiatives - To address raw material shortages, Pianzaihuang is establishing breeding bases for musk deer and planting medicinal herbs to alleviate supply pressures [13]. - Recent regulatory changes may allow the import of cow bile, potentially easing supply constraints [13]. Market Valuation - The company's dynamic price-to-earnings ratio has decreased from 167 times in 2021 to 40 times, indicating a market reassessment of its business model [15]. - The challenges faced by Pianzaihuang reflect a broader strategic dilemma between maintaining the "scarcity value" of traditional medicine and pursuing market expansion [15].