证券代码：600511 证券简称：国药股份 公告编号：临 2024-019 国药集团药业股份有限公司 第八届董事会第十七次会议决议公告 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。 一、董事会会议召开情况 国药集团药业股份有限公司（以下简称"公司"或"国药股 份"）第八届董事会第十七次会议通知及资料于 2024 年 6 月 18 日以书面、电子邮件等形式发出，会议于 2024 年 6 月 28 日以现 场和通讯方式在北京召开。本次会议应到董事十名，实到董事十 名，其中四名独立董事参加了会议，会议由董事长姜修昌先生主 持，监事和部分高管列席会议，符合《公司法》和《公司章程》 的有关规定。 二、董事会会议审议情况 内容详见上海证券交易所网站 www.sse.com.cn 及《中国证 券报》《上海证券报》《证券时报》和《证券日报》同日披露的 《国药股份关于修订〈公司章程〉部分条款的公告》。 （二）以 4 票同意、0 票反对和 0 票弃权的结果审议通过《国 药股份关于增加 2024 年日常关联交易预计额度的议案》。董事 会审议该议 ...

证券代码：600511 证券简称：国药股份 公告编号：2024-018 国药集团药业股份有限公司 2023 年年度权益分派实施公告 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： 每股分配比例 A 股每股现金红利 0.854 元（含税） 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2024/6/12 | － | 2024/6/13 | 2024/6/13 | 差异化分红送转： 否 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经公司 2024 年 4 月 25 日的 2023 年年度股东大会审议通过。 二、 分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分 公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 无限售条件流通股的红利委托中国结算上海分公司通过其资金清算系统向股权登记日上 海证券交易所收市后登记在册并在上海证 ...

证券代码：600511 证券简称：国药股份 公告编号：临 2024-017 国药集团药业股份有限公司关于召开 2023 年度暨 2024 年第一季度业绩说明会的公告 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： 会议召开时间：2024 年 06 月 05 日(星期三) 下午 15:00- 16:00 会议召开地点：上海证券交易所上证路演中心（网址： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2024 年 05 月 29 日(星期三) 至 06 月 04 日(星期 二)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或 通过公司邮箱 gygfzqb@sinopharm.com 进行提问。公司将在说明会 上对投资者普遍关注的问题进行回答。 国药集团药业股份有限公司（以下简称"公司"）已于 2024 年 3 月 21 日发布公司 2023 年年度报告，于 2024 年 4 月 26 日发布公 司 2024 年一季报，为便于广大投资者更全 ...

华福证券 医药流通 2024年05月17日 公 司 国药股份（600511.SH） 买入（首次评级） 研 究 麻精类药物全国配送龙头，多业态并举驱动稳健增长 当前价格： 35.86元 投资要点： 基本数据 总股本/流通股本(百万股) 754.50/553.35  麻精类药物全国配送龙头，参股宜昌人福实现麻精全产业链布局。 流通A股市值(百万元) 19,843.00 每股净资产(元) 21.51 麻精类药物属于国家高度管制类药物，无论是生产还是流通端都有极高进 资产负债率(%) 45.26 一年内最高/最低价(元) 40.85/26.58 入壁垒。公司是全国三家麻精类药物一级经销商之一，且占据绝对市场份 一年内股价相对走势 额。麻精类药物与手术需求密切相关，需求增长刚性，且高进入壁垒也带 来较高利润率，公司整体利润率显著高于同行。此外，公司通过参股宜昌 公 人福和青海制药，完成麻精行业全产业链布局。宜昌人福是国内麻药行业 司 的龙头公司，业绩增长稳健，每年给公司贡献可观的投资收益。 首 次  北京区域流通龙头，渠道覆盖广泛。 覆 公司医疗直销业务实现北京地区一、二、三级医院全覆盖，基层医疗覆盖 盖 超470 ...

Investment Rating - The report assigns a "Buy-A" investment rating to the company with a 6-month target price of 40.64 CNY, compared to the current stock price of 34.94 CNY as of April 26, 2024 [1][9]. Core Views - The company has demonstrated steady revenue growth, achieving a revenue of 12.122 billion CNY in Q1 2024, representing a year-on-year increase of 7.98%. The net profit attributable to shareholders was 459 million CNY, up 10.86% year-on-year [3]. - The overall expense ratio has been optimized, leading to improved profitability. The gross margin for Q1 2024 was 7.03%, while the net margin was 3.79%, with a decrease in the expense ratio to 2.37% [4]. - The company is focusing on diversifying its business segments, including pharmaceutical retail, pharmaceutical manufacturing, dental academic services, and pharmaceutical logistics, while maintaining a strong position in the pharmaceutical distribution market [5][8]. Summary by Sections Financial Performance - In Q1 2024, the company reported a revenue of 12.122 billion CNY, a 7.98% increase year-on-year, and a net profit of 459 million CNY, reflecting a 10.86% growth [3]. - The company’s gross margin was 7.03%, and the net margin was 3.79%, with a total expense ratio of 2.37%, indicating improved profitability [4]. Business Development - The company is enhancing its market position in Beijing, achieving 100% coverage of grade hospitals and over 4,700 grassroots medical institutions [5]. - The company has established a strong relationship with over a thousand domestic and international suppliers, ensuring a stable supply chain and a wide range of products [5]. - The company is expanding its presence in the narcotic drug sector, covering all 31 provincial-level regions in China and serving over 50,000 medical clients [5]. - The retail segment is also growing, with the company’s subsidiary expanding its network of specialized retail pharmacies [8]. Future Outlook - The company is expected to maintain steady growth in its commercial distribution and direct sales segments, with projected revenue growth rates of 10.07%, 9.50%, and 8.95% for 2024 to 2026 [12]. - The net profit growth rates are forecasted at 9.91%, 10.71%, and 10.30% for the same period [12]. - The report anticipates that the company’s diversified business layout will continue to contribute positively to its performance [13].

Investment Rating - The report assigns a "Buy" rating for the company, indicating a positive outlook for its stock performance relative to the benchmark index [7]. Core Insights - The company reported a steady growth in Q1 2024, achieving a revenue of 12.122 billion yuan, which represents an 8% year-over-year increase. The net profit attributable to shareholders was 459 million yuan, reflecting an 11% year-over-year growth [1][2]. - The net profit margin improved by 0.07 percentage points to 4.08%, primarily due to a decrease in expense ratios. The expense ratio for the period decreased by 0.63 percentage points to 2.37% [1]. - Investment income for Q1 2024 was 105 million yuan, a 30% increase year-over-year, accounting for 23% of the net profit attributable to shareholders [1]. Financial Performance Summary - The company’s total revenue for 2022 was 45.499 billion yuan, which increased to 49.696 billion yuan in 2023, with projections of 54.387 billion yuan for 2024, reflecting a growth rate of 9.4% [2]. - The net profit attributable to shareholders was 1.964 billion yuan in 2022, increasing to 2.146 billion yuan in 2023, with an expected rise to 2.361 billion yuan in 2024, indicating a growth rate of 10% [2]. - The gross profit margin was 8.4% in 2022, slightly decreasing to 8.0% in 2023, with expectations of a slight recovery to 8.1% in the following years [2]. Business Strategy and Market Position - The company is focusing on strengthening its core business during the "14th Five-Year Plan" period, with a strategy centered around "big marijuana drugs" to solidify its leading position in the market [1]. - The company has achieved 100% coverage of grade hospitals in the Beijing area and has established a strong presence in over 4,700 grassroots medical institutions [1]. - The company maintains a leading position in the distribution of narcotic drugs across more than 30 provinces and municipalities in China [1]. Earnings Forecast - The company is projected to achieve revenues of 54.387 billion yuan, 59.651 billion yuan, and 65.443 billion yuan for the years 2024, 2025, and 2026, respectively, with year-over-year growth rates of 9%, 10%, and 10% [1]. - The net profit attributable to shareholders is expected to be 2.361 billion yuan, 2.624 billion yuan, and 2.912 billion yuan for the same years, with growth rates of 10%, 11%, and 11% [1]. - The corresponding price-to-earnings (P/E) ratios are projected to be 11 times, 10 times, and 9 times for the years 2024, 2025, and 2026, respectively [1].

国药集团药业股份有限公司 年度环境︑ 社会及治理 ︵︶ 报告 2023 ESG 关于本报告 本报告是国药集团药业股份有限公司发布的 ESG 报告，本着客观、规范、透明和全面的原则，详细披露公司 2023 年在 积极承担社会责任和促进可持续发展等方面的具体举措、重点实践、亮点案例和关键绩效，旨在回应利益相关方的期望， 未来更好地履行社会责任。 时间范畴 本报告涵盖期间为 2023 年 1 月 1 日至 12 月 31 日。 为增强本报告的对比性和前瞻性，部分内容适当追溯 以往年份或具有前瞻性描述。 报告范围 本报告以国药集团药业股份有限公司为主体，包括下 属分子公司。除特别说明外，本报告范围与本公司年 报范围保持一致。 编制依据 本报告依据国务院国有资产监督管理委员会《关于国 有企业更好履行社会责任的指导意见》《央企控股上 市公司 ESG 专项报告编制研究》、上海证券交易所 《上市公司环境信息披露指引》、全球报告倡议组织 （Global Reporting Initiative，GRI） 发 布 的《 可 持 续发展报告标准（GRI Standards）》以及《联合国 可持续发展目标》(UN SDGs 2030 ...

证券代码：600511 证券简称：国药股份 公告编号：2024-016 国药集团药业股份有限公司 2023 年年度股东大会决议公告 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： 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 76 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 444,375,955 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 58.8965 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 (一) 股东大会召开的时间：2024 年 4 月 25 日 (二) 股东大会召开的地点：北京市东城区永定门西滨河路 8 号院 7 楼中海地 产广场西塔 8 层会议室 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： 本次会议由董事会召集，董事长姜修昌先生主持，会议采用现场投票和网络 投票的方式进行表决，符合《公司法》 ...

Financial Performance - The company's operating revenue for Q1 2024 was CNY 12,122,142,562.33, representing a year-on-year increase of 7.98%[4] - The net profit attributable to shareholders for Q1 2024 was CNY 459,454,518.02, reflecting a growth of 10.86% compared to the same period last year[4] - The basic earnings per share for Q1 2024 was CNY 0.6089, which is an increase of 10.86% year-on-year[5] - The net profit for Q1 2024 was CNY 495,118,467.38, which is an increase of 9.9% from CNY 450,409,271.64 in Q1 2023[19] - The profit attributable to shareholders of the parent company for Q1 2024 was CNY 459,454,518.02, compared to CNY 414,409,175.82 in Q1 2023, reflecting a growth of 10.9%[19] - The total comprehensive income for Q1 2024 was ¥309,812,727.18, compared to ¥283,206,166.14 in Q1 2023, indicating an increase of 9.4%[25] Cash Flow - The net cash flow from operating activities for Q1 2024 was negative at CNY -1,719,799,376.67, indicating a significant cash outflow[4] - The cash inflow from operating activities totaled ¥5,539,406,936.00 in Q1 2024, compared to ¥5,368,466,798.45 in Q1 2023, showing a growth of 3.2%[26] - The cash flow from operating activities showed a net outflow of ¥301,387,089.18 in Q1 2024, compared to a net inflow of ¥78,555,396.09 in Q1 2023[26] - The net cash outflow from operating activities was ¥1.72 billion in Q1 2024, compared to a net outflow of ¥1.14 billion in Q1 2023, indicating a worsening cash flow situation[20] - The cash inflow from investment activities was ¥18.65 million in Q1 2024, significantly higher than ¥5.85 million in Q1 2023, showing a substantial increase in investment returns[21] - The net cash outflow from investment activities was ¥2.33 million in Q1 2024, an improvement from a net outflow of ¥15.82 million in Q1 2023, reflecting better investment management[21] - The cash inflow from financing activities totaled ¥338.20 million in Q1 2024, slightly lower than ¥372.03 million in Q1 2023, indicating a decrease in financing activities[21] - The net cash outflow from financing activities was ¥116.58 million in Q1 2024, compared to a net outflow of ¥161.78 million in Q1 2023, showing improved cash management in financing[21] Assets and Liabilities - Total assets at the end of Q1 2024 amounted to CNY 32,919,056,402.95, a slight increase of 1.44% from the end of the previous year[5] - The total liabilities as of the reporting date were CNY 14,898,012,994.93, slightly down from CNY 14,919,938,717.90 in the previous year[16] - The total assets as of the reporting date were CNY 32,919,056,402.95, compared to CNY 32,453,092,592.42 in the previous year, showing an increase of 1.4%[16] - The total current assets were approximately ¥16.99 billion as of March 31, 2024, down from ¥18.17 billion at the end of 2023, reflecting a decline in liquidity[22] - The total liabilities decreased to ¥10,155,730,572.50 in Q1 2024 from ¥11,571,806,815.96 in Q1 2023, a reduction of approximately 12.2%[23] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 48,921[8] - The largest shareholder, China National Pharmaceutical Group Co., Ltd., held 54.72% of the shares, totaling 412,841,745 shares[8] - The company reported a total of 211,685,171 shares held by its largest shareholder, China National Pharmaceutical Group, indicating significant ownership concentration[9] Research and Development - Research and development expenses for Q1 2024 were CNY 13,941,626.51, down from CNY 16,684,728.20 in Q1 2023, indicating a decrease of 16.4%[18] - The company's research and development expenses were not specified in the report, indicating a potential area for future disclosure[24] Other Financial Metrics - The company reported non-recurring gains of CNY 1,472,368.63 for the period, after accounting for tax and minority interests[7] - The weighted average return on equity for Q1 2024 was 2.87%[5] - The company reported an investment income of CNY 104,978,672.01 for Q1 2024, up from CNY 80,674,195.75 in Q1 2023, representing a growth of 30.0%[18] - The company's contract liabilities increased significantly to ¥69,816,037.03 in Q1 2024 from ¥8,228,053.18 in Q1 2023, marking a substantial rise of 749.5%[23] Miscellaneous - The report was issued by the board of directors of China National Pharmaceutical Group Corporation on April 25, 2024[29] - The company did not execute any adjustments related to new accounting standards for the first quarter of 2024[29]

证券代码：600511 证券简称：国药股份 公告编号：临 2024-014 一、董事会会议召开情况 国药集团药业股份有限公司（以下简称"公司"或"国药股 份"）第八届董事会第十六次会议通知于 2024 年 4 月 15 日以书 面、电子邮件等形式发出，会议于 2024 年 4 月 25 日以现场和通 讯方式在北京召开。本次会议应到董事十名，实到董事十名，其 中四名独立董事参加了会议，会议由董事长姜修昌先生主持，监 事和部分高管列席会议，符合《公司法》和公司《章程》的有关 规定。 二、董事会会议审议情况 本次会议审议并通过了如下决议： （一）以 10 票同意、0 票反对和 0 票弃权的结果审议通过 《国药股份 2024 年第一季度报告》。本议案提交董事会前已经 董事会审计委员会审议通过。（内容详见上海证券交易所网站 1 国药集团药业股份有限公司 第八届董事会第十六次会议决议公告 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。 www.sse.com.cn 及《中国证券报》、《上海证券报》、《证券 时报》和《证券日报》同日披露的 ...