Core Viewpoint - 九州通 has reported strong financial performance for the first half of 2025, achieving a revenue of 81.106 billion yuan, a year-on-year increase of 5.10%, and a net profit of 1.446 billion yuan, up 19.70%, despite industry challenges [1] Group 1: Financial Performance - The company achieved a revenue of 81.106 billion yuan in H1 2025, reflecting a 5.10% year-on-year growth [1] - The net profit attributable to shareholders reached 1.446 billion yuan, marking a 19.70% increase compared to the previous year [1] Group 2: Strategic Initiatives - 九州通 is focusing on its "Three New and Two Digital" strategy, which includes new products, new retail, new medical services, digitalization, and real estate securitization [2] - The company introduced 61 new pharmaceutical products during the reporting period, with total sales revenue from brand promotion reaching 9.591 billion yuan [2] Group 3: New Retail and Medical Services - The new retail strategy, centered around the "Good Medicine Master" franchise, generated sales revenue of 1.493 billion yuan, a 2.52% increase year-on-year [2] - The number of "Good Medicine Master" stores reached 31,535 by the end of June 2025, with expectations to exceed 33,500 by the end of the year [3] Group 4: Digitalization and AI Integration - 九州通 has developed a SaaS system for clinic management, enhancing operational efficiency with features like rapid patient registration and billing [4] - The company has partnered with Tencent Cloud to create an AI-assisted diagnostic platform, which is currently used in over 1,500 clinics [4] Group 5: Emerging Business Growth - The pharmaceutical manufacturing segment achieved sales of 1.593 billion yuan, a 10.77% increase, while the digital logistics segment reported revenue of 0.587 billion yuan, up 24.66% [7][8] - The medical beauty business generated sales of 0.583 billion yuan, reflecting a significant growth of 48.64% [8] Group 6: ESG and Credit Rating - 九州通 has committed to social responsibility, donating 11.3781 million yuan in the first half of 2025 and receiving various ESG ratings, including "AA" from mainstream ESG rating agencies [9] - The company achieved a AAA credit rating from a leading credit rating agency, marking it as the only AAA-rated private enterprise in the pharmaceutical distribution sector [9]

证券代码：600998 证券简称：九州通 公告编号：临 2025-061 九州通医药集团股份有限公司 第六届董事会第十六次会议决议公告 经过审议并表决，本次会议通过了以下议案： 一、《关于公司 2025 年半年度报告及摘要的议案》 董事会审议通过了《九州通 2025 年半年度报告》及摘要，公司上半年经营 业绩分析如下： 2025 年上半年，公司实现营业收入和归母净利润的双增长，营业收入 811.06 亿元，同比增长 5.10%；归母净利润 14.46 亿元，同比增长 19.70%；公司经营活 动产生的现金流量净额较上年同期增加 3.8 亿元，预计全年经营活动产生的现金 流量净额为与经营业绩相匹配的正数。 2025 年上半年，公司各业务板块齐头并进，实现良好发展。医药分销核心 业务实现销售收入 676.34 亿元，同比增长 6.04%，，为公司整体营业收入增长奠 定较好基础；此外，医药工业、数字物流等新兴业务板块均实现较快增长，其中 医药工业自产及 OEM 业务形成具有市场竞争力的西药、中药及器械产品集群， 半年度实现销售收入 15.93 亿元，同比增长 10.77%；医药新零售业务上半年实现 销售收入 14. ...

Core Viewpoint - Jointown Pharmaceutical Group Co., Ltd. reported a strong performance in the first half of 2025, with significant growth in revenue and net profit, driven by its diversified business model and strategic investments in new products and digital transformation [3][4][5]. Financial Performance - The company achieved operating revenue of CNY 81.11 billion, a 5.10% increase from the previous year [3]. - Total profit reached CNY 1.99 billion, reflecting a 20.31% year-on-year growth [3]. - Net profit attributable to shareholders was CNY 1.45 billion, up 19.70% compared to the same period last year [3]. - The company reported a net cash flow from operating activities of CNY -2.82 billion, an improvement of 11.87% year-on-year [3]. Business Segments - The core pharmaceutical distribution business generated sales of CNY 67.63 billion, a 6.04% increase [6]. - The pharmaceutical manufacturing and OEM segments achieved sales of CNY 1.59 billion, growing by 10.77% [6]. - The new retail business reported sales of CNY 1.49 billion, with a growth rate of 24.66% [6]. - Digital logistics and B2B e-commerce platforms also saw significant growth, with revenues of CNY 10.64 billion, up 21.08% [6]. Strategic Initiatives - The company is focusing on digital transformation, investing CNY 146 million in R&D, particularly in AI applications across various business functions [7]. - Jointown has successfully launched public REITs to enhance liquidity and support its logistics infrastructure [7]. - The "Three New and Two Transformations" strategy is being implemented to drive innovation and operational efficiency [7]. Market Position and Recognition - Jointown is recognized as the largest private pharmaceutical enterprise in China and has been included in the "Top 500 Chinese Enterprises" list [6]. - The company has received multiple awards for its investor relations management and ESG initiatives, reflecting its commitment to sustainable practices [5][6]. ESG and Corporate Governance - The company has made significant contributions to social causes, donating CNY 11.38 million in the first half of 2025 [6]. - Jointown's credit rating has been upgraded to AAA, the highest level, indicating strong market confidence [5].

Core Viewpoint - The report highlights the financial performance and strategic initiatives of Jiuzhoutong Pharmaceutical Group Co., Ltd. for the first half of 2025, showcasing growth in revenue and net profit despite challenges in receivables and increased impairment provisions. Financial Performance - Total assets at the end of the reporting period amounted to approximately 107.77 billion RMB, a decrease of 5.25% compared to the end of the previous year [1] - Operating revenue reached approximately 81.11 billion RMB, with a net profit attributable to shareholders of approximately 9.52 billion RMB, reflecting a year-on-year increase of 19.70% [2][3] - The net profit after deducting non-recurring gains and losses was approximately 951.86 million RMB, down 19.34% year-on-year, primarily due to increased impairment provisions related to receivables [2][3] - Cash flow from operating activities showed a net outflow of approximately 2.82 billion RMB, an improvement of 11.87% compared to the previous year [1] Business Segments and Growth - The core pharmaceutical distribution business generated sales revenue of approximately 67.63 billion RMB, a year-on-year increase of 6.04% [8] - Emerging business segments such as pharmaceutical manufacturing and digital logistics reported significant growth, with pharmaceutical manufacturing achieving a revenue increase of 10.77% to approximately 1.59 billion RMB, and digital logistics growing by 24.66% to approximately 587 million RMB [8] - The new retail business, including the "Good Medicine" franchise, expanded to 31,535 stores, with sales revenue reaching approximately 3.42 billion RMB, a growth of 41.30% [18] Strategic Initiatives - The company is focusing on digital transformation, with a research and development investment of approximately 146 million RMB aimed at enhancing AI applications across various business functions [9] - The implementation of the "Three New and Two Transformations" strategy has led to the establishment of a comprehensive service model integrating pharmaceutical distribution, logistics, and product promotion [4][10] - The company has actively engaged in ESG initiatives, contributing approximately 11.38 million RMB to various social causes and achieving high ratings in ESG assessments [6][7] Market Position and Recognition - Jiuzhoutong is recognized as the largest private pharmaceutical commercial enterprise in China and ranked 165th in the "China Enterprise 500" list [5] - The company has received multiple awards for its investor relations management and was recognized as a model enterprise in ESG practices [5][7] - The company's credit rating was upgraded to AAA, reflecting strong market confidence and potentially lowering financing costs [7]

Core Points - The company held its 16th meeting of the 6th Board of Directors, where key resolutions were passed regarding the 2025 semi-annual report and other governance matters [1][3] Financial Performance - The company reported a total revenue of 676.34 billion, representing a year-on-year increase of 6.04% [2] - The net profit attributable to shareholders reached 14.46 billion, with a year-on-year growth of 19.70% [1] - The net cash flow from operating activities increased by 3.8 billion compared to the same period last year, indicating a positive outlook for the full year [1] Business Segments - The pharmaceutical manufacturing and digital logistics sectors showed significant growth, with the pharmaceutical manufacturing segment achieving sales of 15.93 billion, up 10.77% year-on-year [2] - The new retail business generated sales of 14.93 billion, with a notable increase in franchise store numbers to 31,535, leading to a 41.30% rise in sales to franchise stores [2] - The digital logistics and supply chain solutions segment reported revenue of 5.87 billion, reflecting a growth of 24.66% [2] - The total sales for the brand promotion business reached 95.91 billion, while the B2B e-commerce platform and retail digital distribution services generated 106.36 billion, marking a 21.08% increase [2] Governance and Compliance - The company is undertaking a "Quality Improvement and Efficiency Enhancement" initiative as per the guidelines from the State Council and the Shanghai Stock Exchange [3] - A new management system for the departure of directors and senior management is being established to enhance corporate governance [3]

人民财讯8月26日电，九州通（600998）8月26日晚间披露2025年半年报，上半年实现营业收入811.06亿 元，同比增长5.1%；归母净利润14.46亿元，同比增长19.7%；基本每股收益0.29元。报告期内，公司在 保持医药分销收入稳健增长的同时，医药工业、数字物流等新兴业务板块收入分别实现10.77%、 24.66%的较快增长；同时，公司完成医药仓储物流基础设施公募REITs发行上市，增加公司净利润4.38 亿元。 ...

证券代码：600998 证券简称：九州通 公告编号：临 2025-062 九州通医药集团股份有限公司 关于2025年半年度计提减值准备的公告 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。 根据《上海证券交易所股票上市规则（2025年4月修订）》《企业会计准则》 及九州通医药集团股份有限公司（以下简称"公司"）会计政策的相关规定，基于 谨慎性原则，公司对截至2025年6月30日可能存在减值迹象的资产进行了减值测 试，并计提了减值准备。现将具体情况公告如下： 一、本次计提情况概述 公司于基准日2025年6月30日计提可能发生的信用减值准备及资产减值准备 （含转回）共计37,830.40万元，具体包括： 单位：人民币 万元 | 项目 | 2025年上半年度 计提金额（含转回） | 原因 | | --- | --- | --- | | 信用减值准备 | 29,151.40 | 基于谨慎性原则，公司对预期信用损失 率进行充分评估，计提信用减值准备共 2.92亿元，主要由于防疫物资应收账款及 医院客户账期延长等，公司计提了应收 | | ...

证券代码：600998 证券简称：九州通 公告编号：临 2025-063 九州通医药集团股份有限公司 关于召开 2025 年半年度业绩说明会的预告公告 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：2025 年 9 月 3 日（星期三）上午 11:00-12:00 ●投资者可于 2025 年 8 月 27 日（星期三）至 9 月 2 日（星期二）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 jztdmc@jztey.com 进 行提问；公司将在业绩说明会上对投资者普遍关注的问题进行回答。 1 ●会议召开地点：上海证券交易所上证路演中心（http://roadshow.sseinfo.com/） ●会议召开方式：上证路演中心网络互动 披露允许的范围内就投资者普遍关注的问题进行回答。 二、说明会召开时间、地点 （一）召开会议时间：2025 年 9 月 3 日（星期三）上午 11:00-12:00 （二）召开会议地点：上海证券交易所上证路演中心（http://roadshow.ss ...

九州通医药集团股份有限公司 2025 年半年度报告 九州通医药集团股份有限公司 2025 年半年度报告 公司代码：600998 公司简称：九州通 九州通医药集团股份有限公司 2025 年半年度报告 九州通医药集团股份有限公司 2025 年半年度报告 重要提示 一、 本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不 存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人刘长云、主管会计工作负责人夏晓益及会计机构负责人（会计主管人员）夏晓益 声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 报告期内，公司未有经董事会审议的半年度利润分配预案或公积金转增股本预案。 六、 前瞻性陈述的风险声明 √适用 □不适用 本半年度报告中涉及的未来计划、发展战略等前瞻性陈述，不构成公司对投资者的实质承诺 ，请投资者注意投资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 ...

Core Viewpoint - 九州通 has received an upgrade in its credit rating to AAA with a stable outlook from China Chengxin International Credit Rating Co., Ltd, reflecting the company's strong operational performance and strategic initiatives [1][2]. Group 1: Credit Rating Upgrade - The credit rating agency has issued a report assessing 九州通's credit status, resulting in an upgrade from AA+ to AAA [1]. - The stable outlook indicates confidence in the company's future performance and creditworthiness [1]. Group 2: Reasons for Upgrade - 九州通 has focused on its core business in the pharmaceutical and health sector, successfully advancing its "three new and two transformations" strategy, which includes new products, new retail, new medical services, digitalization, and real estate securitization [2]. - The company has achieved a transformation in its health industry services through digitalization, platformization, and internet integration, establishing a comprehensive pharmaceutical supply chain service platform valued at "hundreds of billions" [2]. - The implementation of an efficient digital financial management model and a rigorous risk control system has strengthened the company's credit quality [2]. Group 3: Implications of the Upgrade - The upgrade to AAA is expected to lower the company's overall financing costs, broaden financing channels, and enhance the liquidity of its bonds [2]. - This rating reflects the capital market's high recognition of 九州通's comprehensive strength and is significant for the company's sustainable and healthy development [2].