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 2023 年年度股东大会的 法律意见书 二〇二四年四月八日 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 2023 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 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 2023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 勤勉尽责和诚实信 ...

证券代码：600976 证券简称：健民集团 公告编号：2024-012 健民药业集团股份有限公司 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 (一)股东大会召开的时间：2024 年 4 月 8 日 (二)股东大会召开的地点：武汉市汉阳区鹦鹉大道 484 号健民集团总部会议 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： | 1、出席会议的股东和代理人人数 | 177 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 69,519,397 | | 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（%） | 45.3194 | (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，董事长何勤先生主持，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 ...

会 议 资 料 $$=O=|\exists\{\exists\{\exists\}\}\backslash\exists$$ 健民药业集团股份有限公司 二○二三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2023年年度股东大会。 健民药业集团股份有限公司 二○二三年年度股东大会 二、会议出席者：2024年3月29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：2024年4月8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：何勤董事长 六、会议记录：周捷董事会秘书 七、股东大会投票表决方式： 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《2023年年度股东大会表决办法说明》； (7)2024年度融资额度的议案； (8)关于运用自有闲置资金进行现金管 ...

健民药业集团股份有限公司 2024 年 3 月 21 日投资者关系活动记录表 投关活动类别 特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 其他 （ 券商策略会） 中信证券、盘京投资、工银瑞信基金、上汽颀臻、长信基金、 参与单位名称 中信证金、杭银理财、蓝墨投资、新活力资本、博普资产、天 津恒泰投资担保、海南泽兴、富国基金、招银理财、南方基金、 汇升投资、长盛基金、海富通基金、拾贝投资、红筹投资、苏 泊尔集团、承泽资产、熙宁投资管理、天证资产、知远投资、 天辰元信、浙商资管、颐和久富、农银人寿、陆宝投资、金鼎 资本、华夏基金。 时 间 2024年3月21日 公司接待人员 董事会秘书周捷、证券事务代表曹洪。 相关情况说明 本次活动不涉及应当披露而未披露的重大信息 活动主要内容 一、公司2023年度的经营情况介绍 公司《2023 年年度报告》已于2024 年3 月16日披露，报 告期内公司实现营业收入42.13 亿元，同比增长15.72%，实现 ...

Investment Rating - The report maintains a "Buy" rating for the company [14][15]. Core Views - The company's performance growth is in line with expectations, with a notable increase in sales of its flagship product, Longmu Bone Strengthening Granules, contributing to improved profitability [14]. - The company is expected to achieve a net profit of 635 million yuan, 759 million yuan, and 904 million yuan for the years 2024, 2025, and 2026 respectively, reflecting year-on-year growth rates of 21.7%, 19.6%, and 19.1% [14]. Financial Performance Summary - **Revenue and Profit Growth**: - 2023 revenue reached 4.213 billion yuan, a year-on-year increase of 15.72% - Net profit for 2023 was 521 million yuan, up 27.78% year-on-year [14]. - **Quarterly Performance**: - In Q4 2023, revenue was 1.096 billion yuan, showing a 31.86% increase year-on-year, with net profit at 106 million yuan, a 14.05% increase [14]. - **Key Product Performance**: - Longmu Bone Strengthening Granules sold 623 million bags in 2023, a 15.17% increase year-on-year [14]. - **Financial Projections**: - Expected revenues for 2024, 2025, and 2026 are 4.9 billion yuan, 5.701 billion yuan, and 6.511 billion yuan respectively, with growth rates of 16.3%, 16.4%, and 14.2% [3][14]. - **Earnings Per Share (EPS)**: - EPS is projected to be 4.14 yuan, 4.95 yuan, and 5.89 yuan for 2024, 2025, and 2026 respectively [3][14]. - **Valuation Metrics**: - The company’s P/E ratios are projected to be 13.4, 11.2, and 9.4 for the years 2024, 2025, and 2026 [3][14]. Balance Sheet Summary - **Total Assets**: - As of 2022, total assets were 3.44 billion yuan, with current assets at 2.305 billion yuan and non-current assets at 1.135 billion yuan [6]. - **Total Liabilities**: - Total liabilities were 1.575 billion yuan, with current liabilities at 1.534 billion yuan [6]. - **Equity**: - The equity attributable to shareholders was 1.86 billion yuan as of 2022 [6]. Cash Flow Summary - **Operating Cash Flow**: - Operating cash flow for 2023 was 268 million yuan, with a projected increase to 338 million yuan in 2024 [24]. - **Investing Cash Flow**: - Investing cash flow for 2023 was -77 million yuan, with projections of -166 million yuan in 2024 [24]. - **Financing Cash Flow**: - Financing cash flow for 2023 was -86 million yuan, with similar projections for the following years [24]. Research and Development - The company is increasing its investment in R&D, focusing on innovative traditional Chinese medicine and pediatric formulations, which are expected to contribute to long-term growth [14].

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Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative performance above the market index over the next six months [3][26]. Core Insights - The company achieved a revenue of 4.21 billion yuan in 2023, representing a year-on-year growth of 15.7%, with a net profit attributable to shareholders of 520 million yuan, up 27.8% [1][17]. - The investment income for 2023 was 230 million yuan, a significant increase of 42.5% year-on-year, primarily driven by the performance of its subsidiary, Dapeng Pharmaceutical [3][17]. - The company has launched multiple new drugs, enhancing its research and promotion capabilities, with a focus on pediatric medications [3][17]. Financial Performance - Revenue growth is projected to continue, with estimates of 4.99 billion yuan in 2024, 5.87 billion yuan in 2025, and 6.88 billion yuan in 2026, reflecting growth rates of 18.33%, 17.73%, and 17.21% respectively [2][39]. - The net profit attributable to shareholders is expected to reach 620 million yuan in 2024, 747 million yuan in 2025, and 909 million yuan in 2026, with corresponding growth rates of 18.60%, 20.74%, and 21.76% [2][39]. - The company's gross margin for the pharmaceutical industry was reported at 77.75% in 2023, showing a slight increase from the previous year [17]. Product Performance - Key products such as Longmu Bone Strengthening Granules and Bian Tong Capsules have shown significant sales growth, with Bian Tong Capsules increasing by 44.6% year-on-year [17]. - The company has successfully introduced new drugs, including a pediatric cough syrup that addresses a common pediatric condition, which is expected to capture a significant market share [3][17]. Market Position and Outlook - The company is well-positioned in the market with a strong pipeline of new products and a focus on expanding its marketing efforts, particularly in the pediatric segment [3][17]. - The report anticipates continued demand for its products, particularly in the context of rising prices for natural medicinal materials, which may benefit the company's cultivated alternatives [3][17].

Investment Rating - The report maintains a "Buy" rating for Jianmin Group, with expected revenue growth from 48.29 billion to 64.14 billion CNY from 2024 to 2026, and corresponding net profits increasing from 6.19 billion to 9.16 billion CNY during the same period [2][17]. Core Insights - Jianmin Group achieved a revenue of 4.213 billion CNY in 2023, representing a year-on-year growth of 15.72%, and a net profit of 521 million CNY, up 27.78% year-on-year [17]. - The growth in net profit is attributed to the strong performance of key products such as Longmu and investment income from Jianmin Dapeng [17]. - The company is actively advancing its R&D in traditional Chinese medicine, with several new drug approvals and ongoing projects aimed at enhancing its product offerings [17]. Financial Performance Summary - Total revenue (in million CNY) for the years 2022A to 2026E is projected as follows: 3,641 (2022), 4,213 (2023), 4,829 (2024), 5,564 (2025), and 6,414 (2026), with growth rates of 10.3%, 15.7%, 14.6%, 15.2%, and 15.3% respectively [3]. - Net profit attributable to the parent company (in million CNY) is forecasted to be: 408 (2022), 521 (2023), 619 (2024), 746 (2025), and 916 (2026), with year-on-year growth rates of 33.7%, 27.8%, 18.7%, 20.6%, and 22.8% respectively [3]. - The gross profit margin is expected to remain stable, with figures of 43.3% (2022), 46.0% (2023), 45.5% (2024), 46.3% (2025), and 47.3% (2026) [3]. - Earnings per share (EPS) is projected to increase from 2.66 CNY in 2022 to 5.97 CNY in 2026 [3]. R&D and Product Development - The company is focusing on the development of new traditional Chinese medicine products, with 27 ongoing R&D projects and 7 new product approvals in 2023 [17]. - Jianmin Group plans to implement differentiated marketing strategies for its two major product lines in 2024, aiming to enhance market coverage and brand recognition [17].

2024 年 03 月 18 日 公司研究年年报 评级：买入(维持) 最近一年走势 事件: 投资要点: 沪深 300 7.1% 8.2% -9.0% 风险提示 龙牡壮骨颗粒销售不及预期；处方药集采降价风险；医药商 证券研究报告 | --- | --- | --- | --- | --- | |----------------------------------|-------|-------|-------|-------| | [ 预 Ta 测 ble 指 _F 标 orcast1] | 2023A | 2024E | 2025E | 2026E | | 营业收入（百万元） | 4213 | 4812 | 5664 | 6636 | | 增长率 (%) | 16 | 14 | 18 | 17 | | 归母净利润（百万元） | 521 | 625 | 779 | 973 | | 增长率 (%) | 28 | 20 | 25 | 25 | | 摊薄每股收益（元） | 3.41 | 4.07 | 5.08 | 6.34 | | ROE(%) | 23 | 22 | 21 | 21 | | P/E | 19.13 ...

Investment Rating - The investment rating for the company is "Buy" with a target price indicating a potential return of over 20% within the next six months [7][25]. Core Insights - The company has shown a steady increase in revenue and profitability, with 2023 revenue reaching 4.21 billion yuan, a year-on-year growth of 15.72%, and a net profit attributable to the parent company of 521.46 million yuan, up 27.78% year-on-year [27]. - The OTC product line generated revenue of 1.106 billion yuan, reflecting a year-on-year increase of 14.85%, while the Rx product line achieved revenue of 1.058 billion yuan, up 15.43% [1][27]. - The company’s core product, Longmu Zhuanggu Granules, sold 62.33 million bags, marking a 15.17% increase, and Bian Tong Capsules saw sales of 29.36 million capsules, a significant rise of 44.59% [1]. Financial Summary - The company’s financial projections indicate a revenue increase from 4.21 billion yuan in 2023 to 6.93 billion yuan by 2026, with a compound annual growth rate (CAGR) of approximately 16.71% [3][25]. - The net profit attributable to the parent company is expected to grow from 521.46 million yuan in 2023 to 901.87 million yuan in 2026, with a CAGR of 20.16% [3][25]. - The EBITDA is projected to rise from 679.61 million yuan in 2023 to 1.05 billion yuan in 2026, indicating strong operational performance [3][25]. Business Segments Performance - The commercial segment achieved revenue of 2.01 billion yuan in 2023, a year-on-year increase of 16.64%, while the pharmaceutical industrial segment generated 2.16 billion yuan, up 15.13% [23]. - Pediatric products contributed 1.14 billion yuan in revenue, reflecting a 13.67% increase, and gynecological products generated 573 million yuan, up 3.81% [23]. - The overall gross margin for the company improved to 46.05%, an increase of 2.78 percentage points year-on-year, with a net margin of 12.42%, up 1.28 percentage points [23].