证券代码：600976 证券简称：健民集团 公告编号：2025-014 健民药业集团股份有限公司 2024 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 (一)股东大会召开的时间：2025 年 4 月 15 日 (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。 本次股东大会由公司董事会召集，副董事长许良先生主持，会议采用现场投 票与网络投票相结合的方式进行表决，本次会议的召集、召开和表决方式符合《公 司法》及《公司章程》的有关规定。 (五)公司董事、监事和董事会秘书的出席情况 1、公司在任董事 9 人，出席 8 人，何勤董事长因身份健康原因未能出席； 2、公司在任监事 5 人，出席 5 人； 3、公司总裁汪俊，副总裁胡振波、黄志军、裴学军，财务总监程朝阳，董 事会秘书周捷等高级管理人员及公司见证律师出席了本次会议。 二、议案审议情况 (一)非累积投票议案 (二)股东大会召开的地点：武汉市汉阳区鹦鹉大道 484 号 ...

湖北得伟君尚律师事务所 2024 年年度股东大会的 法律意见书 二○二五年四月十五日 湖北得伟君尚律师事务所 地址：武汉市江汉区建设大道 588 号卓尔国际大厦 20 楼、21 楼 电话：（86 27 8562 0999） 电子邮箱：dewell@ dewellcn.com 湖北得伟君尚律师事务所 关于健民药业集团股份有限公司 2024 年年度股东大会的法律意见书 致：健民药业集团股份有限公司 关于健民药业集团股份有限公司 湖北得伟君尚律师事务所（以下简称本所）接受健民药业集团股份有限公司 （以下简称公司）的委托，指派律师出席公司 2024 年年度股东大会，对公司本次会 议进行见证并出具法律意见书。 本所律师依据《公司法》《上市公司股东大会规则》《上海证券交易所上市公 司股东大会网络投票实施细则》(以下简称《网络投票细则》)及《公司章程》的规 定，对公司本次会议的召集与召开程序、召集人及出席会议人员的资格、表决程序 及表决结果的合法有效性发表法律意见。 本所律师根据《证券法》《律师事务所从事证券法律业务管理办法》和《律师 事务所证券法律业务执业规则（试行）》等规定的要求，严格履行法定职责，遵循 勤勉尽责和诚实 ...

Core Insights - The overall performance of traditional Chinese medicine (TCM) companies shows a divergent trend amid intensified market competition, fluctuating raw material prices, and changing policy environments [1] - Companies are actively seeking new growth avenues for long-term development [1] Revenue Performance - Baiyunshan leads with a revenue of 749.93 billion, but experienced a slight decline of 0.69% year-on-year [3] - Yunnan Baiyao follows with a revenue of 400.33 billion, maintaining steady growth supported by diversified products [3] - Taiji Group and Kangyuan Pharmaceutical saw significant revenue declines, with Taiji's revenue dropping by 20.72% to 123.86 billion [3][4] - Taiji's flagship product, Huoxiang Zhengqi Oral Liquid, faced a 35.34% drop in sales, indicating market share erosion [3][4] Profitability Analysis - Yunnan Baiyao reported a leading net profit of 47.49 billion, up 16.02%, while Huaren Sanjiu's net profit grew by 18.05% to 33.68 billion [6] - Six out of fifteen companies experienced a decline in net profit, indicating severe profitability challenges [6] - Taiji Group's net profit plummeted by 96.76% to 0.27 billion, attributed to tax payment issues [6][7] Cost Pressures - Rising raw material prices significantly impacted profit margins, with notable increases in costs for key ingredients [8][9] - For instance, the price of natural cow bile used in Tongrentang's products surged from 650,000 to 1,650,000 per kilogram, leading to a decrease in gross margin [8] R&D and Innovation Challenges - Many TCM companies face low R&D investment and high sales expenses, limiting their growth potential [9][10] - Approximately 40% of the surveyed companies had R&D expenses below 200 million, with seven companies reporting a year-on-year decline in R&D spending [9] - Companies are increasingly relying on traditional products, hindering innovation and the introduction of competitive new products [9] Strategic Shifts - Companies are exploring new growth strategies, such as East A Ejiao's focus on men's health products and Jichuan Pharmaceutical's partnerships for business development [10][11] - Some companies are integrating AI and digital technologies into their operations to modernize and enhance product offerings [11]

Core Viewpoint - Jianmin Group's 2024 annual report reveals a significant decline in both revenue and net profit, marking the first annual performance drop in six years, despite the strong sales of its flagship product, Longmu Zhuanggu Granules [2][4][6]. Financial Performance - The company achieved operating revenue of 3.505 billion yuan in 2024, a year-on-year decrease of 16.81% from 4.213 billion yuan in 2023 [3]. - The net profit attributable to shareholders was 362 million yuan, down 30.54% from 521 million yuan in the previous year [3][4]. - The cash flow from operating activities was 234 million yuan, a decrease of 12.71% compared to 268 million yuan in 2023 [3][11]. Product Performance - Longmu Zhuanggu Granules, the company's core product, has sold 300 billion bags since its launch over 30 years ago, but its sales volume decreased significantly in 2024 due to inventory reduction efforts [5][6]. - Pediatric product sales volumes fell by 41.67% and 32.44% year-on-year, while gynecological and specialty traditional Chinese medicine products also saw declines [6]. Market Position and Competition - Jianmin Group's revenue of 3.505 billion yuan in 2024 is significantly lower compared to leading industry players such as Baiyunshan (749.93 billion yuan) and Huaren Sanjiu (276.17 billion yuan) [9]. - The company faces increasing competition from other brands offering similar pediatric products, despite having a unique formula and production process for Longmu Zhuanggu Granules [7]. Strategic Initiatives - The company plans to utilize up to 1.4 billion yuan of idle funds for cash management through low-risk financial products, aiming to enhance returns without affecting daily operations [4]. - Jianmin Group is undergoing a marketing system reform and enhancing digital capabilities to address declining sales and improve inventory management [6][12]. R&D and Future Outlook - The company invested 97.16 million yuan in R&D in 2024, accounting for 2.77% of revenue, which is relatively low compared to industry peers [11]. - Despite the challenges, Jianmin Group emphasizes R&D innovation as a core driver for future growth, focusing on developing new pediatric generic and modified drugs [11][12].

会 议 资 料 二○二五年四月十五日 健民药业集团股份有限公司 二○二四年年度股东大会 二、会议出席者：2025年4月9日下午收市后在中国证券登记结算有限责任 公司上海分公司登记在册的本公司全体股东或其合法委托的代理人、公司董 事、监事及高级管理人员、公司聘请的律师。 三、会议时间：2025年4月15日下午14:00 会期：半天 四、会议地点：武汉市汉阳区鹦鹉大道484号健民药业集团股份有限公司总 部会议室 五、会议主持人：许良副董事长 六、会议记录：周捷董事会秘书 七、股东大会投票表决方式： 健民药业集团股份有限公司 二○二四年年度股东大会议程 一、会议名称：健民药业集团股份有限公司2024年年度股东大会。 本次股东大会采用记名投票表决方式，股权登记日登记在册的股东以本人 或授权代表通过现场投票或网络投票进行表决。 八、会议议程： 1、大会主持人介绍到会股东及来宾情况； 2、宣布到会股东代表资格情况； 3、宣读《2024年年度股东大会表决办法说明》； 4、大会主持人宣布大会开始； 5、全体股东听取并审议： (1)公司2024年董事会工作报告； (2)公司2024年监事会工作报告； (3)公司2024年独立董 ...

[Table_ReportType] 公司点评报告 [Table_StockAndRank] 健民集团(600976) | 投资评级 | 买入 | | --- | --- | | 上次评级 | 增持 | | [Table_Author] 唐爱金 | 医药行业首席分析师 | | 执业编号：S1500523080002 | | | 邮 | 箱：tangaijin@cindasc.com | | 章钟涛 | 医药行业分析师 | | 执业编号：S1500524030003 | | 邮 箱：zhangzhongtao@cindasc.com 相关研究： [Table_OtherReport] 公司处于营销改革过渡期，看好后续 核心单品增长潜力 业绩表现较好，发力研发新药上市提 供增量 龙牡健脾增长较快，二季度业绩表现 亮眼 证券研究报告 公司研究 信达证券股份有限公司 CINDA SECURITIES CO.,LTD 北京市西城区宣武门西大街甲127号金隅大厦B 座 邮编：100031 [OTCTable_T 及处方it线le库存均降至合理水平， ] 健民大鹏业绩持续快速增长 [Table_ReportDate] 20 ...

Investment Rating - The report suggests maintaining attention on the company, indicating a neutral investment rating for the next six months [7]. Core Insights - The company experienced a significant decline in revenue and net profit in 2024, with revenue at 35.0 billion yuan, down 16.8% year-on-year, and net profit at 3.6 billion yuan, down 30.5% year-on-year. This decline is attributed to the pain of reform and a decrease in core product sales [7]. - Despite the challenges, the company is focusing on marketing reforms and innovation in drug development, with 31 projects under research and development [7]. - The company’s investment income remained stable, with a notable contribution from its subsidiary, which achieved a net profit of 6.9 billion yuan, up 22.1% [7]. Financial Summary - Revenue projections for 2025-2027 are 37.78 billion yuan, 41.34 billion yuan, and 45.35 billion yuan, respectively, with expected growth rates of 7.8%, 9.4%, and 9.7% [2]. - The net profit forecast for the same period is 5.27 billion yuan, 6.59 billion yuan, and 8.16 billion yuan, with growth rates of 45.5%, 25.0%, and 23.9% [2]. - The company’s earnings per share (EPS) are projected to increase from 3.44 yuan in 2025 to 5.32 yuan in 2027 [2]. Business Segments - The pediatric segment, particularly the product Longmu Zhuanggu Granules, is expected to recover with a projected sales growth rate of 10% from 2025 to 2027 [8]. - The gynecology segment, including products like Xiaojin Capsules and Jianpi Shengxue Granules, is anticipated to see significant growth, with sales growth rates of 5% and 20%, respectively [8]. - The specialty Chinese medicine segment is projected to grow at 25% annually, driven by products like Jianmin Throat Tablets and Bian Tong Capsules [9].

健民药业集团股份有限公司 内部控制审计报告 众环审字（2025）0101200 号 传商 Fay: 027-85424329 内部控制审计报告 众环审字(2025)0101200 号 健民药业集团股份有限公司全体股东: 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求,我们审计了健 民药业集团股份有限公司(以下简称"健民药业集团")2024年12月 31 日的财务报告内部 控制的有效性。 一、健民药业集团对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部控制评价指引》 的规定,建立健全和有效实施内部控制,并评价其有效性是健民药业集团董事会的责任。 二、注册会计师的责任 我们的责任是在实施审计工作的基础上,对财务报告内部控制的有效性发表审计意见, 并对注意到的非财务报告内部控制的重大缺陷进行披露。 三、内部控制的固有局限性 内部控制具有固有局限性,存在不能防止和发现错报的可能性。此外,由于情况的变化 可能导致内部控制变得不恰当,或对控制政策和程序遵循的程度降低,根据内部控制审计结 果推测未来内部控制的有效性具有一定风险。 四、财务报告内部控制审计意见 我们认为,健 ...

一、会计师事务所基本情况 1、基本情况 健民药业集团股份有限公司董事会审计委员会 对中审众环会计师事务所（特殊普通合伙）2024 年年 度审计工作履行监督职责情况报告 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司治理 准则》《国有企业、上市公司选聘会计师事务所管理办法》《公司章程》等规定 和要求，董事会审计委员会本着对股东负责的态度，保持与会计师事务所的沟通 与联系，加强对其履职情况的监督。现将本委员会对会计师事务所 2024 年度审 计工作的监督与评价情况汇报如下： 中审众环会计师事务所（特殊普通合伙）（以下简称"中审众环"）始创于 1987 年，是全国首批取得国家批准具有从事证券、期货相关业务资格及金融业 务审计资格的大型会计师事务所之一。根据财政部、证监会发布的从事证券服务 业务会计师事务所备案名单，中审众环具备股份有限公司发行股份、债券审计机 构的资格。 三、2024 年会计师事务所的履职情况 按照《审计业务约定书》，遵循《中国注册会计师审计准则》和其他执业规 范，中审众环会计师事务所（特殊普通合伙）对公司 2024 年度财务报告及 2024 年 12 月 31 日的财务报告内部控制 ...