Financial Performance - The company's total revenue reached CNY 151.81 billion, representing a year-on-year growth of 1.11% despite a high base from the previous year[6]. - Net profit attributable to shareholders was CNY 2.507 billion, an increase of 15.33% year-on-year[6]. - The net profit attributable to shareholders increased by 15.33% to ¥2.51 billion, up from ¥2.17 billion in the previous year[44]. - The net cash flow from operating activities was ¥3.08 billion, a decrease of 35.07% compared to ¥4.75 billion in 2023[44]. - The company reported a 2.58% year-over-year increase in sales revenue, with a 39.88% increase in net profit attributable to shareholders after excluding non-recurring gains and losses[48]. - The basic earnings per share for 2024 was ¥0.50, up 16.28% from ¥0.43 in 2023[45]. - The total cash dividend for 2024 is projected to be 1.27 billion yuan, accounting for 50.47% of the net profit attributable to shareholders[26]. Business Expansion and Strategy - The company plans to expand its retail network to over 33,500 stores by 2025, transitioning from rapid expansion to improving operational quality[17]. - The company aims for new product sales to account for 20% of total revenue and 50% of gross profit by 2025, focusing on high-value products that align with strategic needs[17]. - Jointown plans to expand its market presence by entering three new provinces in the upcoming fiscal year[36]. - The company targets to develop over 2,000 member stores under the "Nine Medical Clinics" initiative by 2025, enhancing product variety and providing digital operational services[18]. - The company is exploring potential acquisitions to strengthen its supply chain and distribution network[36]. Research and Development - R&D investment reached CNY 346 million, reflecting a year-on-year increase of 24.32%[14]. - The company invested 200 million RMB in R&D for new drug development, focusing on oncology and chronic diseases[36]. - The company invested 346 million RMB in R&D, a year-on-year increase of 24.32%, with a total of 1,555 R&D personnel[96]. - A total of 264 high-end professionals were recruited in the reporting period, with plans to recruit an additional 300 high-potential talents by 2025[62]. Digital Transformation and Technology - The digital transformation initiatives have improved operational efficiency and reduced costs, with the orthopedic service platform covering over 3.2 million industry terminals[14]. - The company has implemented 47 digital and AI projects, collaborating with Alibaba Cloud and Tencent Cloud, enhancing operational efficiency and competitiveness[62]. - The AI medical service application demonstration base project, co-built with Wuhan Artificial Intelligence Research Institute, can automatically identify and manage over 2,000 types of medical devices, achieving a 30-fold efficiency improvement and 99.9% accuracy[139]. - The company has launched a comprehensive AI application in logistics, including AI-driven warehouse picking and smart logistics solutions, significantly improving operational efficiency[129]. Social Responsibility and Community Engagement - The company actively participated in social responsibility initiatives, contributing over CNY 18.2 million to public welfare[10]. - The company donated a total of 1 million yuan in materials and funds to support disaster relief efforts in Gansu and Hunan[142]. - The company received the "Special Contribution Award" from the Hubei Red Cross Society for its outstanding contributions to social responsibility[144]. Market Trends and Regulatory Environment - The implementation of the medical insurance fund prepayment and instant settlement policies will significantly improve cash flow for pharmaceutical distribution companies, enhancing their receivables from medical institutions[148][152]. - The ongoing deepening of volume-based procurement will create development opportunities for the company's CSO and innovative drug collaborations[154]. - The NHSA's policies are expected to further expand the market size of the pharmaceutical retail industry, benefiting leading retail chain enterprises[161]. - The government aims to cultivate 1-3 large-scale digital and comprehensive pharmaceutical distribution enterprises with revenues exceeding 500 billion yuan by 2025, presenting growth opportunities for leading companies like the one in focus[187]. Logistics and Supply Chain - The company has established a nationwide intelligent pharmaceutical logistics network covering 96% of regions, with a total warehouse area exceeding 3.95 million square meters, including 2.55 million square meters of GSP-certified pharmaceutical warehouses[128]. - The company has developed a differentiated logistics structure, deploying "Bb integrated warehouses" in 24 core hubs to enhance supply chain efficiency for both B-end and C-end customers[128]. - The company has formed strategic partnerships with over 30 domestic and foreign pharmaceutical companies, enhancing its distribution and logistics capabilities[131][132]. Product and Service Development - The company has established a comprehensive new product strategy framework, integrating business development, research, and marketing[78]. - The company aims to enhance its commercialization capabilities and establish a comprehensive promotion network to improve core competitiveness[80]. - The company has built a professional product promotion team and obtained agency qualifications for several key brands, enhancing its market presence[124]. REITs and Financial Instruments - The company successfully issued public REITs, raising CNY 1.158 billion with a subscription multiple of 1,192 times, marking a record in public REITs issuance history[7]. - The public REITs project has a base asset in Wuhan, recognized as one of the top ten "National Intelligent Warehousing and Logistics Demonstration Bases" by the National Development and Reform Commission, with a building area of approximately 172,000 square meters[15]. - The rapid development of public REITs in China's infrastructure sector since the first batch of 9 REITs launched in 2021 highlights significant market potential[178].

Financial Performance - The company's operating revenue for Q1 2025 was CNY 42.02 billion, an increase of 3.82% compared to CNY 40.47 billion in the same period last year[4]. - Net profit attributable to shareholders increased by 80.38% to CNY 969.86 million from CNY 537.68 million year-on-year, primarily due to the successful issuance of public REITs in pharmaceutical warehousing and logistics[5]. - Basic and diluted earnings per share rose by 72.73% to CNY 0.19 from CNY 0.11 in the previous year[4]. - The weighted average return on equity increased by 1.43 percentage points to 3.65% compared to 2.22% in the previous year[4]. - The company reported a net profit for Q1 2025 reached CNY 1,013,884,074.60, a significant increase of 86.8% compared to CNY 542,165,921.17 in Q1 2024[26]. - The operating profit for Q1 2025 was CNY 1,274,549,197.37, compared to CNY 665,397,152.22 in Q1 2024, indicating an increase of 91.6%[26]. - The total comprehensive income for Q1 2025 was CNY 1,009,835,379.52, compared to CNY 550,367,460.58 in Q1 2024, reflecting an increase of 83.2%[27]. - The company reported a total profit of CNY 1,275,377,036.64 for Q1 2025, significantly higher than CNY 661,813,519.47 in Q1 2024, an increase of 92.5%[26]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 108.88 billion, reflecting a growth of 6.33% from CNY 102.40 billion at the end of the previous year[5]. - Total liabilities increased to ¥74,104,148,287.75 from ¥68,802,838,471.51, representing an increase of 7.4%[22]. - The company's equity attributable to shareholders rose to ¥28,229,695,580.44, up from ¥27,243,192,189.04, reflecting a growth of 3.6%[23]. - Short-term borrowings increased significantly to ¥12,780,938,781.11 from ¥9,935,748,652.23, indicating a rise of 28.0%[22]. Cash Flow - The net cash flow from operating activities was negative CNY 3.33 billion, an improvement of 8.91% from negative CNY 3.65 billion in the same period last year[4]. - The company reported a net cash outflow from operating activities of CNY -3,327,926,818.37 in Q1 2025, an improvement from CNY -3,653,621,916.00 in Q1 2024[29]. - Cash and cash equivalents at the end of Q1 2025 totaled CNY 8,415,373,194.19, compared to CNY 6,329,431,890.60 at the end of Q1 2024, marking an increase of 33.0%[30]. - Investment activities generated a net cash inflow of CNY 1,789,864,045.80 in Q1 2025, compared to a net outflow of CNY -328,319,434.32 in Q1 2024[29]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 47,926, with the top ten shareholders holding a combined 66.32% of the shares[10]. - The top ten shareholders include major entities such as Zhongyin Financial Asset Investment Co., holding 25.14% of preferred shares, and ICBC Financial Asset Investment Co., holding 20.78%[14]. Strategic Initiatives - The company plans to continue expanding its pharmaceutical warehousing and logistics infrastructure through public REITs, enhancing its operational efficiency and profitability[5]. - The company is actively expanding its market presence and enhancing its logistics capabilities through strategic initiatives and partnerships in the pharmaceutical sector[17]. - The company plans to focus on market expansion and new product development in the upcoming quarters to drive future growth[25]. Research and Development - Research and development expenses decreased to ¥36,128,402.16 in Q1 2025 from ¥44,253,731.42 in Q1 2024, showing a decline of 18.4%[25]. Other Financial Metrics - Non-recurring gains and losses totaled CNY 462.70 million, with significant contributions from asset disposals and government subsidies[7]. - The company redeemed financial products, leading to a 93.59% decrease in trading financial assets[9]. - The company achieved a diluted earnings per share of CNY 0.19 in Q1 2025, up from CNY 0.11 in Q1 2024, representing a growth of 72.7%[27]. - Total revenue from sales of goods and services in Q1 2025 was CNY 35,599,953,547.22, up from CNY 32,587,421,059.88 in Q1 2024, reflecting a growth of 6.2%[28].

证券代码：600998 证券简称：九州通 公告编号：临 2025-023 表决结果：同意 12 票，反对 0 票，弃权 0 票。 该议案尚需提交公司股东会审议批准。 详见公司同日披露的 2024 年度独立董事述职报告。 1 九州通医药集团股份有限公司 第六届董事会第十四次会议决议公告 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。 2025 年 4 月 26 日，九州通医药集团股份有限公司（以下简称"九州通"或 "公司"）召开第六届董事会第十四次会议，本次会议以现场结合通讯的方式召 开，根据公司《董事会议事规则》的相关规定，会议通知已于 2025 年 4 月 7 日 以电话、邮件、微信等方式通知全体董事。本次会议应到董事 12 人，实到 12 人， 会议由董事长刘长云先生主持。公司监事和高级管理人员列席了会议。本次会议 的召集和召开程序符合《公司法》及《公司章程》等相关规定。 经过审议并表决，本次会议通过了以下议案： 一、《关于公司 2024 年度总经理工作报告的议案》 表决结果：同意 12 票，反对 0 票，弃权 0 票。 ...

每股分配比例：每10股派发现金红利2.00元（含税），本年度不进行资 本公积金转增股本，不送红股。 本次利润分配以实施权益分派股权登记日登记的总股本扣除回购专户股 份为基数，具体日期将在权益分派实施公告中明确。 如在股权登记日前公司总股本发生变动，公司拟维持每股分配比例不变， 相应调整分配总额，并将在相关公告中披露。 证券代码：600998 证券简称：九州通 公告编号：临 2025-022 九州通医药集团股份有限公司 关于 2024 年度利润分配预案的公告 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。 重要内容提示： （二）公司2024年度利润分配预案不触及其他风险警示情形 公司不触及《上海证券交易所股票上市规则（2025年4月修订）》第9.8.1 条第一款第（八）项规定的可能被实施其他风险警示的情形。 一、2024年度利润分配预案内容 （一）利润分配预案的具体内容 经中审众环会计师事务所（特殊普通合伙）审计，截至 2024 年 12 月 31 日， 九州通医药集团股份有限公司（以下简称"公司"）母公司报表中期末未分配利 润 ...

九州通医药集团股份有限公司 审计报告 众环审字（2025）0101099 号 审计报告 众环审字(2025) 0101099 号 九州通医药集团股份有限公司全体股东: 一、审计意见 我们审计了九州通医药集团股份有限公司(以下简称"九州通公司")财务报表,包括 2024年12月 31 日的合并及公司资产负债表,2024年度的合并及公司利润表、合并及公司 现金流量表、合并及公司股东权益变动表以及相关财务报表附注。 我们认为,后附的财务报表在所有重大方面按照企业会计准则的规定编制,公允反映了 九州通公司 2024年12月31日合并及公司的财务状况以及 2024年度合并及公司的经营成果 和现金流量。 二、形成审计意见的基础 我们按照中国注册会计师审计准则的规定执行了审计工作。审计报告的"注册会计师对 财务报表审计的责任"部分进一步阐述了我们在这些准则下的责任。按照中国注册会计师职 业道德守则,我们独立于九州通公司,并履行了职业道德方面的其他责任。我们相信，我们 获取的审计证据是充分、适当的,为发表审计意见提供了基础。 三、关键审计事项 关键审计事项是我们根据职业判断,认为对本期财务报表审计最为重要的事项。这些事 项的 ...

九州通医药集团股份有限公司 募集资金年度存放与实际使用情况的 鉴证报告 众环专字（2025）0100773 号 九州通医药集团股份有限公司全体股东: 我们接受委托,对后附的九州通医药集团股份有限公司(以下简称"九州通公司")截 至 2024年 12 月 31 日止的【《董事会关于公司募集资金年度存放与实际使用情况的专项报 告》】进行了鉴证工作。 按照中国证监会发布的《上市公司监管指引第2号 -- 上市公司募集资金管理和使用的 监管要求》和上海证券交易所发布的《上海证券交易所上市公司自律监管指引第1号 -- 规 范运作》等有关规定,编制【《董事会关于公司募集资金年度存放与实际使用情况的专项报 告》】,提供真实、合法、完整的实物证据、原始书面材料、副本材料、口头证言以及我们 认为必要的其他证据,是九州通公司董事会的责任。我们的责任是在执行鉴证工作的基础上, 对【《董事会关于公司募集资金年度存放与实际使用情况的专项报告》】发表鉴证意见。 我们按照《中国注册会计师其他鉴证业务准则第 3101 号 -- 历史财务信息审计或审阅 以外的鉴证业务》的规定执行了鉴证工作,该准则要求我们遵守中国注册会计师职业道德守 则,计划和 ...

中信证券股份有限公司 一、募集资金基本情况 （一）实际募集资金金额、资金到位时间 经中国证券监督管理委员会于 2024 年 6 月 28 日签发的证监许可[2024]1002 号《关于同意九州通医药集团股份有限公司向特定对象发行优先股注册的批复》， 同意公司向特定对象发行不超过 1,790 万股优先股。公司实际向特定对象发行优 先股的数量为 17,900,000 股，发行价格为每股 100 元，募集资金总额为人民币 1,790,000,000.00 元，扣除保荐费用、持续督导及承销费用、审计及验资费用、 律师费用和其他发行费用人民币 18,096,226.41 元（不含增值税），公司本次向 特定对象发行优先股募集资金净额为人民币 1,771,903,773.59 元。 截至 2024 年 8 月 13 日，本次向特定对象发行优先股及募集资金的划转已经 全部完成，并经中审众环会计师事务所（特殊普通合伙）予以审验并分别出具众 环验字（2024）0100025 号和众环验字（2024）0100026 号验资报告。 （二）以前年度已使用金额、本年度使用金额及当前余额 关于九州通医药集团股份有限公司 2024 年度募集 ...

九州通医药集团股份有限公司 内部控制审计报告 众环审字（2025）0101953 号 传真 Fax: 027-85424329 内部控制审计报告 众环审字(2025) 0101953 号 九州通医药集团股份有限公司全体股东: 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,并评价其有效性是九州通公司董事会的责任。 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,九州通医药集团股份有限公司于 2024年 12月 31 日按照《企业内部控制基 有重大方面保持了有效的财务报告内部控制。 本规范 中国注册会计师: 普通合伙) 中国注册会计师: 2025年4月26日 中国·武汉 审计报 ...

众环专字（2025）0100772 号 九州通医药集团股份有限公司 非经营性资金占用及其他关联资金往来情况 汇总表 t and the subject of 电话 Tel: 027-86791215 传道 Fax: 027-85424329 九州通医药集团股份有限公司 占用及其他关联资金往来情况汇总表 三年公交 = N 的专项目核报告 众环专字(2025) 0100772 号 九州通医药集团股份有限公司全体股东: 我们接受委托,在审计了九州通医药集团股份有限公司(以下简称"九州通医药集团公 司")2024年12月31 日合并及公司的资产负债表,2024年度合并及公司的利润表、合并及 公司的现金流量表和合并及公司的股东权益变动表以及财务报表附注的基础上,对后附的 《上市公司 2024 年度非经营性资金占用及其他关联资金往来的情况汇总表》(以下简称"汇 总表")进行了专项审核。按照中国证券监督管理委员会印发的《上市公司监管指引第 8 号 -- 上市公司资金往来、对外担保的监管要求》的规定,编制和披露汇总表、提供真实、合 法、完整的审核证据是九州通医药集团公司管理层的责任,我们的责任是在执行审核工作的 基础上对汇总 ...

Core Insights - The company reported a revenue of 151.81 billion yuan for 2024, a year-on-year increase of 1.11%, and a net profit of 2.507 billion yuan, up 15.33% from the previous year [2] - In Q1 2025, the company achieved a revenue of 42.016 billion yuan, representing a 3.82% increase year-on-year, and a net profit of approximately 970 million yuan, which is an 80.38% increase compared to the same period last year [2] - The company is implementing a "New Medical Strategy" to address challenges faced by clinics, such as high supply costs and low levels of information technology [2][3] Company Developments - The company is providing one-stop solutions for clinics, including supply of products, IT systems, and operational value-added services [2] - The "Clinic Manager System" has been developed to enhance operational efficiency, featuring functions like patient record creation, intelligent reception, inventory alerts, and more, achieving over 90% satisfaction among member stores [3] - A partnership with Tencent Cloud has led to the development of an AI-assisted diagnostic platform, covering nearly 3,000 diseases and over 110,000 drug knowledge, aimed at improving prescription safety and patient experience [3] Market Positioning - The company has expanded its "Nine Medical Clinics" membership stores to 1,377 by the end of March 2025, with a target of reaching approximately 2,000 by the end of the year [3] - The Internet Medical Division is focused on the comprehensive development of digital pharmacy services, prescription transfer platforms, and medical information construction, with projected sales revenue of about 200 million yuan in 2024 [4] - The company is leveraging digital technologies to provide a range of services, including electronic prescription transfer, online medication purchase, and health management, to meet patient needs [4]