证券代码：600998 证券简称：九州通 公告编号：临 2024-097 九州通医药集团股份有限公司 第六届监事会第八次会议决议公告 2024 年 11 月 8 日，九州通医药集团股份有限公司（以下简称"公司"或"九 州通"）召开第六届监事会第八次会议，本次会议以现场结合通讯方式召开，根 据公司《监事会议事规则》，会议通知于 2024 年 11 月 4 日以电话、邮件、微信 等方式通知全体监事。本次会议应到监事 3 人，实到 3 人，会议由监事会主席许 应政先生主持。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《关于公司拟参与设立新产品战略相关投 资基金暨关联交易的议案》，具体情况如下： 经审议，监事会同意公司参与设立新产品战略相关投资基金暨关联交易的议 案。详见公司同日披露的《九州通关于参与设立新产品战略相关投资基金暨关联 交易的公告》（公告编号：临 2024-098）。 关联监事林新扬已回避表决。 表决结果：同意 2 票，反对 0 票，弃权 0 票。 备查文件：公司第六届监事会第八次会议决议 特此公告。 九州通医药集团股份有限公司监事会 2024 年 ...

证券代码：600998 证券简称：九州通 公告编号：临 2024-099 九州通医药集团股份有限公司 ●截至本次股东股份解押及质押办理完成日，控股股东楚昌投资及其一致行动 人合计持有公司股份2,338,752,727股，占公司总股本的46.38%。本次股东股份解除 质押及质押办理完成后，控股股东楚昌投资及其一致行动人所持公司股份中已质押 的股份总数为1,260,829,464股，占其所持股份比例为53.91%，占公司总股本的比例 为25.00%。 2024年11月8日，九州通医药集团股份有限公司（以下简称"公司"）收到股 东上海弘康实业投资有限公司（以下简称"上海弘康"）的通知，获悉其持有本公 司的部分股份已办理解除质押及质押手续，具体情况如下： 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： ●公司股东上海弘康办理完成27,090,000股的股份解除质押手续，本次解除质押 股份占其所持股份比例为2.49%，占公司总股本的比例为0.54%；同时，上海弘康已 办理24,000,000股的股份质押手续，本次质押股份 ...

证券代码：600998 证券简称：九州通 公告编号：2024-095 九州通医药集团股份有限公司 2024 年第二次临时股东会决议公告 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 | 1、出席会议的股东和代理人人数 | 730 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 3,296,353,703 | | 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（%） | 66.1064 | (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。 本次股东会由公司董事会召集，采用现场投票和网络投票相结合的方式进行 1 (一) 股东会召开的时间：2024 年 11 月 8 日 (二) 股东会召开的地点：武汉市汉阳区龙兴西街 5 号九州通总部大厦 3 楼会 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： 表决，会议由董事长刘长云先生主持。会议召集 ...

Investment Rating - The report maintains a "Recommended" rating for the company [1] Core Views - The company's revenue for the first three quarters of 2024 is reported at 113.43 billion yuan, with a year-on-year change of -0.8%. However, in Q3 2024, revenue increased by 3.6% year-on-year [1] - The company's high-margin business segments are experiencing rapid growth, with CSO business revenue increasing by 18.0% year-on-year, and the "Good Medicine" franchise seeing a 58.3% increase [1] - The company is progressing well with its REITs and Pre-REITs projects, which are expected to contribute significantly to net profit if successfully issued [1] Financial Performance Summary - Total revenue for 2023 is projected at 150.14 billion yuan, with a growth rate of 6.9%. For 2024, the revenue is expected to be 151.60 billion yuan, reflecting a modest growth of 1.0% [2] - The net profit attributable to the parent company for 2023 is estimated at 2.17 billion yuan, with a year-on-year growth of 4.3%. However, a decline of 4.9% is expected in 2024 [2] - The company's gross margin for Q3 2024 improved to 8.1%, with a net profit margin of 1.4% [1] Valuation and Price Target - The target price for the company is set at 7.1 yuan, based on a target PE of 15x for 2025 [1][3] - The current market price is 5.50 yuan, indicating potential upside based on the target price [3] Key Financial Metrics - The company has a total market capitalization of 27.73 billion yuan and a debt-to-asset ratio of 67.52% [3] - The earnings per share (EPS) for 2024 is projected at 0.41 yuan, with a PE ratio of 13 [2][3]

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company's performance is improving quarter by quarter, driven by the "Three New and Two Transformation" strategy [3][4] - The company achieved a revenue of 1134.29 billion yuan in the first three quarters of 2024, a decrease of 0.82% year-on-year, with a net profit attributable to shareholders of 16.96 billion yuan, down 6.99% year-on-year [2] - The third quarter alone saw a revenue of 362.58 billion yuan, an increase of 3.57% year-on-year, and a net profit of 4.89 billion yuan, up 1.64% year-on-year [2] Summary by Relevant Sections Revenue and Profit Forecast - Total revenue is projected to reach 161.37 billion yuan in 2024, with a year-on-year growth of 7.48% [1] - Net profit attributable to shareholders is expected to be 24.90 billion yuan in 2024, reflecting a growth rate of 14.54% [1] Strategic Initiatives - The "Three New" strategy includes new products, new retail, and new medical services, contributing to revenue growth [3] - The CSO business generated 141.19 billion yuan in revenue, achieving an 18% year-on-year growth [3] - The number of retail stores reached 26,703, with a target of 30,000 by year-end, and B2C e-commerce sales increased by 16.43% [3] - The company aims to expand its "Nine Trust Clinics" to 800 by the end of the year [3] Financial Performance and Valuation - The company is expected to complete the issuance of public REITs and Pre-REITs by the end of 2024, which will enhance cash flow [4] - The projected P/E ratios for 2024-2026 are 10, 9, and 8 times, respectively, indicating a favorable valuation outlook [4]

证券代码：600998 证券简称：九州通 公告编号：临 2024-092 九州通医药集团股份有限公司 关于 2024 年第三季度业绩说明会召开情况的公告 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。 一、本次业绩说明会召开情况 九州通医药集团股份有限公司（以下简称"九州通"或"公司"）2024年第三季 度业绩说明会于2024年10月31日（星期四）11:00-12:00在上海证券交易所上证路 演中心（http://roadshow.sseinfo.com/）以网络互动交流的形式召开。公司董事长 刘长云先生、副董事长刘兆年先生、副董事长兼总经理龚翼华先生、独立董事艾 华先生、财务总监夏晓益先生、副总经理全铭女士、副总经理兼董事会秘书刘志 峰先生和证券事务代表张溪女士出席本次说明会，就公司经营成果、业绩亮点、 "新产品、新零售、新医疗、数字化和不动产证券化（REITs）"五大战略（即"三 新两化"战略）实施进展等具体情况与广大投资者进行了沟通交流。 二、投资者提出的主要问题及公司回复情况 在本次业绩说明会上，公司就投资者关注的问 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's Q3 2024 operating performance has improved, with the "Ten Thousand Store Franchise" initiative achieving its annual target ahead of schedule [1] - The company reported a revenue of 1134.29 billion yuan for Q1-Q3 2024, a year-on-year decrease of 0.82%. However, excluding seasonal factors such as flu and pandemic impacts, revenue growth was 0.70% year-on-year, with net profit increasing by 10.16% [3][4] - The "Three New and Two Transformations" strategy is being steadily advanced, contributing to the company's growth potential [3] Financial Performance Summary - For Q1-Q3 2024, the company achieved a gross margin of 7.96% and a net margin of 1.56% [3] - The total sales revenue from the company's general agency brand promotion business reached 141.19 billion yuan, growing by 18.00% year-on-year [4] - The "Good Medicine Master" franchise business has seen significant progress, with the number of stores reaching 26,703, ahead of the 2024 target, and expected to reach 30,000 by year-end [5] Earnings Forecast - The company maintains its profit forecast for 2024-2026, expecting net profits of 24.45 billion yuan, 27.78 billion yuan, and 31.94 billion yuan respectively, with EPS of 0.48, 0.55, and 0.63 yuan [3][6] - The current stock price corresponds to a PE ratio of 10.6, 9.3, and 8.1 for the years 2024, 2025, and 2026 respectively [3]

Investment Rating - The report maintains a "Recommended" rating for the company [2] Core Views - The company has shown a positive trend in Q3 performance, with a year-on-year revenue growth of 3.57% and a net profit increase of 1.64% [1] - The CSO business has contributed significantly to profit growth, with a revenue increase of 18% year-on-year in the first three quarters of 2024 [2] - The company is actively pursuing digital transformation, with a 19% increase in R&D investment and 40 digital projects initiated [2] - The REITs and Pre-REITs projects are progressing smoothly, expected to enhance profits by up to 16 billion yuan in the long term [3] - Revenue projections for 2024-2026 are estimated at 1543.20 billion, 1629.09 billion, and 1715.47 billion yuan, with net profits of 22.20 billion, 25.49 billion, and 29.16 billion yuan respectively [3] Summary by Sections Q3 Performance - In Q3 2024, the company achieved a revenue of 362.58 billion yuan, a 3.57% increase year-on-year, and a net profit of 4.89 billion yuan, up 1.64% [1] - The seasonal flu impact has diminished, leading to a positive performance trend in Q3 [1] CSO Business - The CSO business generated 141.19 billion yuan in revenue in the first three quarters, marking an 18% increase [2] - The company has introduced 104 new product specifications, with 30 expected to exceed 100 million yuan in sales [2] Digital Transformation - The company has invested 2.15 billion yuan in R&D, a 19% increase, and has launched 40 digital transformation projects [2] REITs and Pre-REITs - The public REITs application has been accepted, with expected profit contributions of up to 7 billion yuan from REITs and 9 billion yuan from Pre-REITs [3] Financial Projections - The company forecasts revenues of 1543.20 billion, 1629.09 billion, and 1715.47 billion yuan for 2024, 2025, and 2026 respectively, with corresponding net profits of 22.20 billion, 25.49 billion, and 29.16 billion yuan [3]