批发模式中第三终端受互联网医院青睐 转自：前瞻产业研究院 行业主要上市公司：国药控股(01099.HK);上海医药(601607.SH);华润医药(03320.HK);九州通 (600998.SH);南京医药(600713.SH);华东医药(000963.SZ);英特集团（维权）(000411.SZ)等 医药流通行业主要商业模式可分为三类 医药商业是医药行业的子行业之一，是专门从事医药商品经营活动的独立经济分支，主要负责药品在市 场上的流通。医药流通行业主要商业模式可分为批发模式、零售模式和各类新型流通模式三类。批发毛 利率较低其中又分为纯销、快批和调拨等;零售毛利率较高药品零售企业一般就是所谓的零售药店是直 接面对最终消费者患者的商品流通环节也是药品流通的最终环节。 批发模式即分销模式，是指批量将药品和医疗器械销售给直接接触消费者的最后环节，包括医疗机构、 零售药店、基层医疗机构等或下游分销商。根据销售对象的不同批发模式可进一步区分为以下几类：医 院直销：商业调拨、第三终端。此外由于渠道下沉、分散等特点，第三终端目前也是各互联网医药企业 积极布局的市场。 零售模式规模小但毛利率高 零售模式是指零售药店从医药 ...

Market Overview - The pharmaceutical commercial sector increased by 0.05% on August 20, with Yifeng Pharmacy leading the gains [1] - The Shanghai Composite Index closed at 3766.21, up 1.04%, while the Shenzhen Component Index closed at 11926.74, up 0.89% [1] Stock Performance - Yifeng Pharmacy (603939) closed at 24.27, up 0.87% with a trading volume of 58,700 shares and a turnover of 141 million yuan [1] - Other notable performers include: - Liuyuan Group (603368) at 18.64, up 0.76% [1] - China National Pharmaceutical Group (600511) at 30.01, up 0.60% [1] - Shanghai Pharmaceuticals (601607) at 19.02, up 0.58% [1] - Nanjing Pharmaceutical (600713) at 5.30, up 0.57% [1] Capital Flow - The pharmaceutical commercial sector experienced a net outflow of 377 million yuan from institutional investors, while retail investors saw a net inflow of 367 million yuan [2] - Notable capital flows include: - Yifeng Pharmacy had a net outflow of 9.79 million yuan from institutional investors [3] - Heavy Drug Holdings (000950) saw a net inflow of 7.45 million yuan from institutional investors [3] - Drug Easy Purchase (300937) had a net inflow of 3.82 million yuan from institutional investors [3]

Group 1 - The core viewpoint of the news highlights the financial performance and market activity of Jiuzhoutong Pharmaceutical Group Co., Ltd. as of August 19, 2025, with a stock price of 5.38 yuan, reflecting a 0.56% increase [1] - The company reported total revenue of 42.016 billion yuan for Q1 2025, representing a year-on-year growth of 3.82%, while net profit attributable to shareholders reached 970 million yuan, showing a significant increase of 80.38% [1] - Jiuzhoutong's liquidity ratios include a current ratio of 1.262 and a quick ratio of 0.943, with a debt-to-asset ratio of 68.06% [1] Group 2 - Jiuzhoutong has made investments in 81 companies and participated in 1,170 bidding projects, indicating active engagement in the market [2] - The company holds 707 trademark registrations and 26 patents, along with 45 administrative licenses, showcasing its intellectual property portfolio [2]

Group 1 - A new company named Sichuan Jiuzhoutong Borui Medical Technology Co., Ltd. has been established, with a registered capital of 20 million yuan [1] - The company's business scope includes sales of second-class medical devices, retail of protective equipment for medical personnel, sales of electronic measuring instruments, electric vehicle sales, and sales of artificial intelligence hardware [1] - The company is jointly held by Jiuzhoutong (600998) and Jiuzhoutong Medical Device Group Co., Ltd. [1]

Core Insights - The competition among cities has evolved beyond tangible resources, focusing increasingly on intangible assets, particularly brand value, which is becoming a crucial lever in reshaping China's urban landscape [1][2] - The "2025 China Listed Company Brand Value Blue Book" has been released, ranking the brand values of listed companies across various cities, highlighting the importance of brand value in economic development [1][2] Group 1: Brand Value Rankings - The top three cities, Beijing, Shenzhen, and Shanghai, collectively hold a brand value of 17.9 trillion yuan, accounting for 62.8% of the total brand value of the top 100 cities [2][3] - The brand value of the top three cities has increased from 132,951.86 billion yuan in 2022 to 179,245.80 billion yuan in 2025, indicating a significant upward trend [7] - The brand value of Hangzhou, ranked fourth, is close to 3 trillion yuan, largely driven by Alibaba's contribution of over 18,335.42 billion yuan [7][21] Group 2: City Performance and Trends - Cities like Nanjing and Wuhan are facing challenges due to a lack of new listed companies, leading to a decline in brand value [2][15] - Ningde has shown remarkable growth, with its brand value soaring from 287.06 billion yuan in 2022 to 1,876.91 billion yuan in 2025, primarily due to the success of CATL [11][13] - Guangzhou's brand value has stagnated, with a slight increase from 5,751.10 billion yuan in 2022 to 6,059.34 billion yuan in 2025, reflecting a slow growth rate of 5.36% [8][21] Group 3: Industry Insights - The brand value of traditional industries in cities like Wuhan and Nanjing is declining, particularly in sectors such as real estate and retail, which are experiencing significant drops [15][19] - The automotive and pharmaceutical sectors in Wuhan have seen a substantial decrease in brand value, primarily due to the decline of major local companies [19][20] - The shift towards high-value industries such as digital economy and renewable energy is becoming essential for cities to maintain competitive brand value [2][11]

Group 1 - The latest stock price of Shouxiangu is 22.29 yuan, an increase of 0.16 yuan from the previous trading day, with a daily high of 22.38 yuan and a low of 22.02 yuan, and a total trading volume of 28,060 hands amounting to 0.62 billion yuan [1] - The company specializes in the research, production, and sales of traditional Chinese medicine health products, with key products including precious Chinese medicinal materials such as Ganoderma and Dendrobium [1] - Shouxiangu has recently led the formulation of the ISO international standard for "Traditional Chinese Medicine - Broken Wall Ganoderma Spore Powder," marking its fourth ISO international standard for Zhejiang-produced famous medicines [1] Group 2 - On August 14, Shouxiangu signed a strategic cooperation agreement with Jiuzhoutong Pharmaceutical, focusing on comprehensive business collaboration in channel construction, supply chain coordination, and market promotion [1] - Jiuzhoutong Pharmaceutical has established 141 high-standard pharmaceutical warehousing and logistics facilities nationwide, providing a stable distribution network foundation for the partnership [1]

（编辑 任世碧） 证券日报网讯 8月13日晚间，九州通发布公告称，截至2025年7月31日，公司及其子公司对外提供担保 （被担保人主要为公司控股子公司（含全资子公司）及其下属企业）的余额合计2，811，709.72万元 （最高担保额度），占公司最近一期（截至2024年12月31日）经审计净资产的103.21%；公司未对控股 股东和实际控制人及其关联人提供担保。 ...

证券代码：600998 证券简称：九州通 公告编号：2025-059 九州通医药集团股份有限公司 关于为子公司提供担保的进展公告 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： 担保对象及基本情况 | | 被担保人名称 | | 福建九州通医药有限公司、河南九州通 | | --- | --- | --- | --- | | | | 医药有限公司等 | 家子公司 37 | | | 本次担保金额 | 万元 207,000.00 | | | 担保对象 | 实际为其提供的担保余额 | 651,450.00 万元 | | | | 是否在前期预计额度内 | 是 □否 | □不适用：_________ | | | 本次担保是否有反担保 | 是 否 | □不适用：_________ | 累计担保情况 | 对外担保逾期的累计金额 | | | 0.00 | | --- | --- | --- | --- | | （万元） | | | | | 截至本公告日上市公司及其 | | | | | 控股子公司对外担保总额 | | | 2, ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 301408 | 华人健康 | 15.11 | -1.76% | 17.96万 | 2.71亿 | | 300937 | 药易购 | 30.05 | -1.60% | 4.53万 | 1.36亿 | | 301015 | 百洋医药 | 25.98 | -1.55% | 29.18万 | 7.77亿 | | 600272 | 开开实业 | 13.87 | -1.42% | 6.94万 | 9642.32万 | | 301126 | 达嘉维康 | 13.25 | -1.41% | 14.39万 | 1.91亿 | | 603122 | 合富中国 | 7.23 | -1.36% | 6.01万 | 4356.44万 | | 002589 | 瑞康医药 | 3.05 | -1.29% | 43.86万 | 1.34亿 | | 301017 | 款玉平民 | 13.20 | -0.98% | 4.94万 | 6532.05万 | | 605266 | 健之佳 ...

了解更多公司与投资者交流互动详情，请点击：https://rs.p5w.net/html/148039.shtml 九州通(600998)在与投资者互动交流环节，就公司数字化转型进展有关情况的提问，公司方面直言：九 州通围绕业务数字化、运营数字化、物流数智化目标，持续加大数字化研发投入，2024年研发投入3.46 亿元，同比增长24.32%；在数字化转型方面加大投入，建设实施的数字化及AI智能化项目达47个，并 分别与阿里云、腾讯云等进行了合作，在AI人工智能、数字大模型等方面开展医药领域的应用合作； 此外，公司内部办公系统和数字助理-智九哥已接入DeepSeek，通过智能交互，进一步提升公司办公效 率和竞争力。（全景网） 6月12日，"提质增效强信心 稳中求进促发展"——湖北辖区上市公司2025年投资者集体接待日活动暨 2024年度业绩说明会活动在全景路演成功举办。 湖北海报.jpg ...