证券代码：600833 证券简称：第一医药 公告编号：临 2025-038 上海第一医药股份有限公司 第十一届董事会第三次会议决议公告 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。 重要内容提示：本次董事会不存在否决议案，没有董事投反对/弃权票。 上海第一医药股份有限公司（以下简称"公司"）第十一届董事会第三次会议于 2025 年 8 月 8 日以邮件方式通知，于 2025 年 8 月 18 日下午在上海市徐汇区小木桥路 681 号 上海外经大厦 20 楼第三会议室召开。本次会议由董事长张海波先生召集并主持。本次 会议应参加表决董事为 9 名，委托表决 0 名，实际参加表决董事 9 名。会议的召开符合 有关法律、行政法规、部门规章、规范性文件和《公司章程》的规定，会议形成的决议 合法、有效。 根据会议议程，本次会议审议通过以下事项： 一、公司《2025 年半年度报告及摘要》 具体内容详见同日刊载于上海证券交易所网站 www.sse.com.cn《上海第一医药股份 有限公司 2025 年半年度报告》及《上海第一医药股份有限公 ...

Core Viewpoint - The company reported a mixed performance in the first half of 2025, with revenue growth but a significant decline in net profit due to previous year's compensation payments [1] Financial Performance - The company achieved operating revenue of 999.7 million yuan, a year-on-year increase of 11.58% [1] - Net profit attributable to shareholders was 14.02 million yuan, a year-on-year decrease of 89.19% [1] - The company's net profit excluding non-recurring items was 9.01 million yuan, a year-on-year increase of 24.58% [1] Business Development - The company expanded its retail network, increasing the number of retail stores to 208, with over 10 new pet specialty stores added [2] - The first pet-friendly pharmacy in Shanghai was recognized by the Shanghai Commercial Association [2] - The company added 14 new medical insurance stores, raising the proportion of direct medical insurance stores to 75.30%, an increase of 7.64 percentage points from the previous year [2] - Online business grew by 38.5%, with O2O business increasing by 46.1% [2] - Cross-border sales of health products through its subsidiary in Hong Kong saw a 12.4% increase [2] Supply Chain Optimization - The company optimized procurement costs and strengthened non-pharmaceutical supply chain construction, with self-owned brand sales increasing by 67.4% [3] - The company established a private equity investment fund focusing on functional food sectors [3] Industry Trends - The retail pharmacy industry is experiencing an accelerated closure trend, with 39,228 stores expected to close in 2024, a closure rate of approximately 5.76% [3] - The industry is shifting from expansion to enhancing profitability through refined operations [4]

Financial Performance - The company's operating revenue for the first half of 2025 was approximately ¥996.60 million, representing an increase of 11.58% compared to ¥893.17 million in the same period last year[21]. - The total profit for the first half of 2025 decreased to approximately ¥17.74 million, down 89.60% from ¥170.59 million in the previous year[21]. - The net profit attributable to shareholders for the first half of 2025 was approximately ¥14.02 million, a decline of 89.19% compared to ¥129.79 million in the same period last year[21]. - The basic earnings per share for the first half of 2025 was ¥0.0629, down 89.19% from ¥0.5818 in the previous year[20]. - The net cash flow from operating activities increased to approximately ¥55.54 million, compared to a negative cash flow of ¥14.58 million in the same period last year[21]. - The company reported a significant decrease in total profit and net profit primarily due to the absence of compensation received from property expropriation in the previous year[22]. - The company achieved a 24.58% increase in net profit attributable to shareholders after deducting non-recurring gains and losses, indicating successful business expansion and cost reduction efforts[22]. - The weighted average return on net assets decreased by 11.2 percentage points to 1.25% compared to the previous year[22]. Market Trends - The retail pharmacy market in China is projected to decline by 2.2% in 2024, with a total market size of approximately ¥2,152.17 billion, reflecting a 1.3% decrease in the first five months of 2025[28]. - The online pharmacy market is expected to reach ¥3,292 billion in 2024, with a year-on-year growth of 9.6%, and online sales accounting for 35% of the overall retail pharmacy market[29][32]. - The number of retail pharmacies is decreasing, with 39,228 closures in 2024, resulting in a closure rate of approximately 5.76%, up from 3.8% in 2023[34]. Company Strategy and Development - The company ranked 45th in the 2024-2025 China Pharmacy Value Top 100 list, improving by 7 positions from the previous year[41]. - The company is focusing on enhancing core competitiveness and high-quality development in 2025, which is a key year for completing the "14th Five-Year Plan"[41]. - The retail pharmacy O2O market is projected to grow to ¥487 billion in 2024, with a year-on-year increase of 31.3%, significantly outpacing the industry average[32]. - The company is adapting to regulatory changes, including the introduction of electronic prescriptions and price governance measures, which are expected to impact operational strategies[35][38]. - The company is positioned to leverage the growing health consciousness among consumers, driven by an aging population and increasing healthcare spending[27]. - The company is enhancing its service offerings, including chronic disease management and health consultations, to align with new health consumption policies[39]. - The company is expected to face challenges from increased competition and regulatory scrutiny in the retail pharmacy sector, necessitating a shift towards refined operational strategies[39]. - The company expanded its retail store count to 208, adding over 10 pet specialty stores, and achieved a 75.30% share of direct medical insurance stores, up 7.64 percentage points year-over-year[42]. - Online business grew by 38.5% year-over-year, with O2O business increasing by 46.1%, driven by enhanced platform collaboration and promotional activities[46]. - The company established a private equity investment fund focusing on functional food sectors, aligning with Shanghai's strategic development plans for the health industry[47]. - The self-owned brand sales increased by 67.4% year-over-year, supported by the introduction of integrated supply chain products and strategic partnerships with suppliers[49]. - The company conducted over 900 community health service activities, enhancing brand reputation and community engagement[52]. - The company launched a chronic disease management service system, with over 60,000 members registered in the first half of 2025[50]. - The company introduced innovative store formats targeting specific consumer groups, such as health stations for young mothers, to diversify product offerings[43]. - The company accelerated the development of a modern intelligent logistics center, expected to significantly reduce logistics costs and improve delivery efficiency by 2025[50]. - The company added 14 new medical insurance stores during the reporting period, enhancing its service network[42]. - The company implemented a comprehensive training program for over 100 employees in various health-related qualifications, strengthening its talent pool[51]. Financial Management - The operating cost for the reporting period was approximately CNY 831.77 million, reflecting an increase of 11.90% from CNY 743.35 million year-on-year[58]. - The company reported a credit impairment reversal of CNY 1.40 million during the reporting period, compared to a loss of CNY 270,036 in the previous year[57]. - The company’s financial expenses decreased to CNY -4.58 million from CNY -7.21 million, indicating improved financial management[58]. - The company’s short-term borrowings decreased by 48% to CNY 49.70 million from CNY 95.58 million in the previous year[65]. - The total fair value of other equity investments increased by 6,852,870.07 RMB, reaching 259,338,029.44 RMB by the end of the period[71]. - The total fair value of trading financial assets increased significantly by 159,700,000.00 RMB, resulting in a total of 289,426,029.44 RMB[71]. Subsidiary Performance - The subsidiary, HSBC Pharmaceutical, reported a net profit of 2,243.70 million RMB, an increase of 86.30% compared to the previous period due to sales growth[76]. - The First Pharmaceutical Chain subsidiary recorded a net loss of 654.02 million RMB, showing improvement from a loss of 969.23 million RMB in the previous period[76]. - The total assets of HSBC Pharmaceutical reached 108,712.20 million RMB, with a net asset value of 10,999.50 million RMB[75]. - The subsidiary Deep Sea Pharmaceutical reported a net profit of 60.75 million RMB, a recovery from a loss of 15.73 million RMB in the previous period[76]. - The subsidiary HSBC Drugstore reported a net loss of 928.12 million RMB, attributed to increased costs from new store openings[76]. Regulatory and Compliance - The company faces risks from industry policy changes, including price control pressures and increased competition from online and offline channels[79]. - The company plans to enhance its management capabilities and innovate its business model in response to regulatory changes in the pharmaceutical industry[79]. - The company has committed to ensuring business independence for its subsidiary, with a focus on maintaining separate operations in procurement, production, and sales[88]. - The company guarantees that its subsidiary will have complete asset independence, ensuring that all operational licenses and related assets are fully owned or used by the subsidiary[89]. - The company will maintain financial independence for its subsidiary, including establishing an independent accounting department and financial management system[89]. - The company has committed to ensuring personnel independence for its subsidiary, with key management not receiving compensation from the parent company[89]. - There are no significant lawsuits or arbitration matters affecting the company during the reporting period[91]. - The company and its major stakeholders have maintained a good integrity status, with no major breaches of trust reported[91]. - The company has not engaged in any non-operational fund occupation by major shareholders or related parties during the reporting period[90]. - There are no violations or guarantees reported during the reporting period[90]. - The company has not received any non-standard audit opinions in the previous annual report[91]. - The company has committed to avoiding any competitive business activities with its parent company during the reporting period[88]. - The company plans to engage in daily operational related party transactions with its controlling shareholder, Bailian Group Co., Ltd., and its subsidiaries for the year 2025[92]. Shareholder Information - The total number of ordinary shareholders as of the reporting period end is 24,694[111]. - The largest shareholder, Bailian Group Co., Ltd., holds 44.95% of the shares, totaling 100,274,734 shares[113]. - Jilin Aodong Pharmaceutical Group Co., Ltd. holds 4.93% of the shares, totaling 10,988,525 shares[113]. - The company has not reported any changes in its share capital structure during the reporting period[110]. - The company has not entered into any other significant contracts during the reporting period[107]. - There are no overdue guarantees or contingent liabilities related to guarantees[106]. Cash Flow and Assets - The total current assets as of June 30, 2025, amounted to CNY 1,155,783,284.13, an increase from CNY 1,127,001,836.27 as of December 31, 2024, reflecting a growth of approximately 2.3%[120]. - Cash and cash equivalents decreased to CNY 370,767,879.28 from CNY 436,420,035.77, representing a decline of about 15.0%[120]. - Accounts receivable decreased to CNY 157,935,555.44 from CNY 189,373,266.78, indicating a reduction of approximately 16.6%[120]. - Inventory increased significantly to CNY 424,789,975.34 from CNY 336,323,956.50, marking an increase of around 26.3%[120]. - Non-current assets totaled CNY 1,006,778.53 for long-term equity investments, remaining unchanged from the previous period[120]. - The company's total liabilities and equity structure was not detailed in the provided content, indicating a focus on asset management rather than liabilities[120]. - The company reported a notable increase in other equity instrument investments to CNY 269,726,029.44 from CNY 252,873,159.37, reflecting a growth of approximately 6.7%[120]. - The fixed assets slightly decreased to CNY 83,867,352.97 from CNY 85,146,139.48, a decline of about 1.5%[120]. Accounting Policies - The financial statements are prepared based on the "Enterprise Accounting Standards" and relevant regulations, ensuring a true and complete reflection of the company's financial status and operating results[152]. - The accounting period for the company runs from January 1 to December 31 each year[153]. - The company's accounting currency is Renminbi, while its subsidiary in Hong Kong uses US dollars[155]. - The company has established materiality thresholds for various accounting estimates, such as a single bad debt provision exceeding 10% of total receivables being considered significant[156]. - The company follows specific accounting treatments for mergers, including measuring assets and liabilities based on their book value at the merger date for same-control mergers[157]. - Directly related expenses incurred during mergers are recognized in the current period's profit and loss[158]. - The company consolidates financial statements based on control, including all subsidiaries, and offsets internal transactions[159]. - The company recognizes the operating results and cash flows of newly acquired subsidiaries from the beginning of the reporting period[160]. - Upon losing control of a subsidiary, the remaining equity investment is remeasured at fair value on the date control is lost[161]. - The company adjusts capital reserves for differences arising from the purchase of minority stakes in subsidiaries[163]. - The company confirms its share of assets and liabilities related to joint operations, recognizing both individually held assets and those shared according to its ownership percentage[164]. Inventory Management - Inventory is classified into categories such as finished goods and raw materials, and is measured at cost, including procurement and processing costs[182]. - The company uses a perpetual inventory system and applies the weighted average method for inventory valuation upon issuance[184]. - Inventory is measured at the lower of cost and net realizable value, with provisions for inventory write-downs recognized when costs exceed net realizable values[183]. - The company assesses the net realizable value of inventory based on estimated selling prices minus estimated costs to complete and sell the inventory[183]. - Provisions for inventory write-downs can be reversed if the factors leading to the write-down no longer exist, with the reversal amount recognized in current profit or loss[185]. - Low-value consumables and packaging materials are expensed using a one-time write-off method[186]. Financial Instruments - Financial assets are classified at initial recognition as either measured at amortized cost, fair value through other comprehensive income, or fair value through profit or loss[167]. - Financial liabilities are classified at initial recognition as either fair value through profit or loss or measured at amortized cost[169]. - The company recognizes financial assets when it becomes a party to the financial instrument contract, including financial assets, financial liabilities, or equity instruments[171]. - Financial assets are derecognized when the contractual rights to cash flows expire or when the asset is transferred and the risks and rewards of ownership are substantially transferred[173]. - The company uses the effective interest method to calculate interest on financial assets measured at amortized cost, with gains or losses recognized upon derecognition[172]. - The company can irrevocably designate non-trading equity investments as fair value through other comprehensive income at initial recognition[168]. - The company recognizes foreign currency transactions at the spot exchange rate on the transaction date, with any exchange differences recognized in profit or loss[165]. - The company will transfer cumulative gains or losses from other comprehensive income to profit or loss upon derecognition of financial assets[171]. - The company terminates the recognition of financial liabilities when the current obligations are fully or partially discharged, and any difference between the carrying amount and the consideration paid is recognized in the current profit or loss[175]. - Fair value of financial assets and liabilities is determined using observable inputs from active markets, or valuation techniques when active markets do not exist, prioritizing relevant observable inputs[176]. - The company assesses expected credit losses based on past events, current conditions, and forecasts of future economic conditions, with significant increases in credit risk leading to loss provisions based on the entire expected life of the financial instrument[179]. - For financial instruments with significant increases in credit risk, loss provisions are measured based on expected credit losses over the entire life, while those without significant increases are measured over the next 12 months[179].

Core Viewpoint - First Pharmaceutical (600833) reported a significant increase in revenue but a drastic decline in net profit for the first half of 2025, indicating potential challenges in profitability despite revenue growth [1] Financial Performance - The company achieved a revenue of 999.7 million yuan, representing a year-on-year growth of 11.58% [1] - The net profit attributable to shareholders was 14.02 million yuan, showing a year-on-year decrease of 89.19% [1] - Key financial metrics such as total profit, net profit attributable to shareholders, basic earnings per share, diluted earnings per share, and weighted average return on net assets all experienced a decline compared to the previous year [1] Explanation for Performance - The decline in profitability is primarily attributed to the previous year's compensation received from property expropriation, which significantly impacted the comparative financial results [1]

人民财讯8月19日电，第一医药(600833)8月19日晚间披露2025年半年报，公司上半年实现营业收入9.97 亿元，同比增长11.58%；归母净利润为1402.42万元，同比下降89.19%。基本每股收益0.0629元。报告 期内，归属于上市公司股东的净利润等同比下降主要是上年同期公司及子公司收到房屋征收补偿款。 ...

格隆汇8月19日丨第一医药（维权）(600833.SH)公布2025年半年度报告，报告期实现营业收入9.96亿 元，同比增长11.58%；归属于上市公司股东的净利润1402.42万元，同比下降89.19%；归属于上市公司 股东的扣除非经常性损益的净利润901.2万元，同比增长24.58%；基本每股收益0.0629元。 ...

报告期归属于上市公司股东的扣除非经常性损益的净利润、扣除非经常性损益后的加权平均净资产收益 率同比增长主要是公司对外拓展创新业务，对内开展降本增效取得经营回报。 智通财经APP讯，第一医药(600833.SH)发布2025年半年度报告，该公司营业收入为9.97亿元，同比增长 11.58%。归属于上市公司股东的净利润为1402.42万元，同比减少89.19%。归属于上市公司股东的扣除 非经常性损益的净利润为901.2万元，同比增长24.58%。基本每股收益为0.0629元。 ...

证券代码：600833 证券简称：第一医药 公告编号：2025-037 上海第一医药股份有限公司 2024年年度权益分派实施公告 ● 每股分配比例 A股每股现金红利0.22元 本次利润分配方案经公司2025年6月20日的2024年年度股东大会审议通过。 2.分派对象： 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。 3.分配方案： 本次利润分配以方案实施前的公司总股本223,086,347股为基数，每股派发现金红利0.22元（含税），共 计派发现金红利49,078,996.34元。 1.实施办法 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券交易所各会员办理了指定交易的股东派发。已办理指定交易的投资者可于红 利发放日在其指定的证券营业部领取现金红利，未办理指定交易的股东红利暂由中国结算上海分公司保 管，待办理指定交易后再进行派发。 2.自行发放对象 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 ...

证券代码：600833 证券简称：第一医药 公告编号：2025-037 上海第一医药股份有限公司 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0.22元 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。 本次利润分配以方案实施前的公司总股本223,086,347股为基数，每股派发现金红利0.22 元（含税） ，共计派发现金红利49,078,996.34元。 三、 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 | 2025/8/18 | － | 2025/8/19 | 2025/8/19 | | 四、 分配实施办法 一、 通过分配方案的股东会届次和日期 本次利润分配方案经公司2025 年 6 月 20 日的2024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 ...

证券日报网讯 8月12日晚间，第一医药发布公告称，2024年年度权益分派方案为A股每股现金红利0.22 元（含税），股权登记日为2025年8月18日，除权（息）日及现金红利发放日均为2025年8月19日。 （文章来源：证券日报） ...