Core Viewpoint - The company is enhancing its strategic investment in emerging industries such as innovative medical devices and medical artificial intelligence through the establishment of an industrial investment fund [1] Group 1: Investment Details - The company’s subsidiary, Beijing Jiuzhou Zhongchuang Technology Incubator Co., Ltd., has committed to invest 10 million yuan as a limited partner in the Wuhan Chuchang Tongda Industrial Investment Fund Partnership, accounting for 7.14% of the total subscribed capital of the fund [1] - The fund has completed the registration process with the Asset Management Association of China and has obtained the Private Investment Fund Registration Certificate as of November 10, 2025 [1]

证券代码：600998 证券简称：九州通 公告编号：临 2025-079 九州通医药集团股份有限公司 关于控股孙公司参与设立的产业基金完成备案的公告 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。 一、基金名称：武汉市楚昌通达产业投资基金合伙企业（有限合伙） 公司将持续关注产业基金后续进展情况，按照相关法律法规的要求，及时履行 信息披露义务，敬请广大投资者注意投资风险。 二、管理人名称：北京楚昌私募基金管理有限公司 三、托管人名称：招商银行股份有限公司 四、备案日期：2025年11月10日 五、备案编码：SBHG37 特此公告。 为进一步促进旗下产业孵化器发展，加大在创新医疗器械、医疗人工智能等新 兴产业的战略布局，九州通医药集团股份有限公司（以下简称"公司"）控股孙公 司北京九州众创科技孵化器有限公司作为有限合伙人认缴出资1,000万元参与设立 武汉市楚昌通达产业投资基金合伙企业（有限合伙）（以下简称"产业基金"）， 占产业基金认缴出资总额的7.14%。具体内容详见公司于2025年9月23日在《中国证 券报》《证券时报》《上 ...

九州通公告，控股孙公司北京九州众创科技孵化器有限公司作为有限合伙人认缴出资1000万元参与设立 武汉市楚昌通达产业投资基金合伙企业（有限合伙），占产业基金认缴出资总额的7.14%。2025年11月 10日，该产业基金已在中国证券投资基金业协会完成备案手续，并取得了《私募投资基金备案证明》。 ...

Core Points - The controlling shareholder Chuchang Investment has completed the early release of 13,000,000 shares, accounting for 2.83% of its holdings and 0.26% of the company's total share capital [1][2] - Shareholder Zhongshan Guangyin has completed the pledge of 13,500,000 shares, representing 4.03% of its holdings and 0.27% of the company's total share capital [1][2] - After these transactions, Chuchang Investment and Zhongshan Guangyin hold 459,506,298 shares and 335,357,275 shares respectively, which are 9.11% and 6.65% of the total share capital [1][2] Pledge Situation - As of November 6, 2025, Chuchang Investment and its concerted actions hold a total of 2,290,962,690 shares, representing 45.43% of the company's total share capital [2][3] - The total number of pledged shares after the transactions is 1,077,383,748, which is 47.03% of their holdings and 21.37% of the company's total share capital [2][3] Financial Capability - The controlling shareholders have the financial capability to repay the pledged shares, with sources of repayment including bond issuance, dividends from the listed company, and investment income [4]

Core Points - The announcement details the early release of share pledges by the controlling shareholder Chuchang Investment and the pledge of shares by its action-in-concert party Zhongshan Guangyin [1][2] - Chuchang Investment released 13,000,000 shares from pledge, accounting for 2.83% of its holdings and 0.26% of the total share capital, while Zhongshan Guangyin pledged 13,500,000 shares, representing 4.03% of its holdings and 0.27% of the total share capital [1][2] - After these transactions, Chuchang Investment and Zhongshan Guangyin hold 459,506,298 shares and 335,357,275 shares respectively, which are 9.11% and 6.65% of the total share capital [1][2] Share Pledge Situation - As of November 6, 2025, Chuchang Investment and its action-in-concert parties collectively hold 2,290,962,690 shares, representing 45.43% of the total share capital [2][3] - The total number of pledged shares after the transactions is 1,077,383,748, which is 47.03% of their holdings and 21.37% of the total share capital [2][3] Financial Capability - The controlling shareholders have the financial capability to repay the pledged shares, with sources of repayment including bond issuance, dividends from the listed company, and investment income [4]

Group 1 - The core point of the news is that Jiuzhoutong's major shareholders, Chuchang Investment and Zhongshan Guangyin, have completed the early release and pledge of shares, with significant portions of their holdings being pledged [1] - Chuchang Investment holds approximately 460 million shares (9.11% of total shares), while Zhongshan Guangyin holds about 335 million shares (6.65% of total shares) [1] - After the pledge completion, the total number of pledged shares by the major shareholders amounts to approximately 1.077 billion shares, representing 21.37% of the company's total shares [1] Group 2 - For the first half of 2025, Jiuzhoutong's revenue composition shows that pharmaceutical wholesale and related businesses account for 95.94%, while pharmaceutical manufacturing and retail account for 1.96% and 1.84% respectively [1] - The company's current market capitalization is 25.8 billion yuan [2]

Core Viewpoint - The article discusses the recent increase in stock holdings by the "national team" in various A-share companies, highlighting the sectors and companies that have seen significant investments as A-shares reached a ten-year high of 4000 points. Group 1: National Team Holdings - As of the end of Q3 2025, the national team held a total of 5,972 billion shares in A-share companies, with a market value of approximately 4.98 trillion yuan [4] - The banking sector remains the most favored, with a market value of 3.78 trillion yuan, followed by insurance and diversified financials, all exceeding 1 trillion yuan in holdings [4][5] - The national team increased its holdings in 336 A-share companies during Q3, totaling approximately 2.34 billion shares [5] Group 2: Sector Focus - The national team focused on eight key sectors for stock increases, with power equipment, basic chemicals, and electronics being the top three, each seeing over 180 million shares added [6][8] - In the power equipment sector, significant investments were made in solar equipment, with a total of 1.47 billion shares added, led by companies like Longi Green Energy [8][9] - The electronics sector also saw substantial increases, with 38 companies receiving national team investments, and a focus on semiconductors and related technologies [11][12] Group 3: Performance Metrics - A majority of the companies that the national team increased holdings in reported revenue growth, with over 70% showing year-on-year revenue increases and over 60% reporting profit growth [7][12] - In the power equipment sector, 19 out of 26 companies reported revenue growth, while 16 reported profit increases [13] - Longi Green Energy, despite a decline in revenue, showed signs of recovery with a smaller loss compared to the previous year, indicating potential for future growth [14][15] Group 4: Strategic Importance - The national team's focus on the semiconductor industry aligns with national strategies to enhance technological capabilities, as outlined in the "14th Five-Year Plan" [12][17] - The semiconductor sector is expected to see accelerated growth due to increased domestic investment and technological breakthroughs, particularly in the context of international trade restrictions [17]

证券代码：600998 证券简称：九州通 公告编号：临 2025-078 九州通医药集团股份有限公司 关于控股股东及其一致行动人提前解除股份质押及质押的公告 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： ●公司控股股东楚昌投资办理完成13,000,000股的股份提前解除质押手续，本次提前 解除质押股份占其所持股份的比例为2.83%，占公司总股本的比例为0.26%。同时，公司 股东中山广银办理完成13,500,000股的股份质押手续，本次质押股份占其所持股份的比 例为4.03%，占公司总股本的比例为0.27%。 ●公司控股股东楚昌投资及其一致行动人中山广银分别持有公司股份459,506,298股 和335,357,275股，占公司总股本的比例分别为9.11%和6.65%。本次股份提前解除质押及 质押办理完成后，楚昌投资和中山广银分别累计质押公司股份249,830,980股和 249,696,820股，占其所持股份的比例分别为54.37%和74.46%，占公司总股本的比例分别 为4.95%和4.95%。 ●截至2 ...

Core Insights - The Beijing Fengtai District government has approved the renovation and upgrade of the former Jingfeng Pharmaceutical Factory, which has been idle since its relocation in 2019, to enhance the utilization of low-efficiency industrial space and release high-quality industrial space [1] Group 1: Project Overview - The renovation project is supported by the Beijing Development and Reform Commission, which has approved funding for the Jiuzhoutong (600998) urban renewal project [1] - The project is located at No. 8 Hangfeng Road, Science City, Fengtai District, Beijing, with a total construction area of 24,937.82 square meters [1] - The expected completion date for the project is December 2026 [1] Group 2: Renovation Details - The renovation will include green energy-saving modifications, structural reinforcement, and fire safety system upgrades [1] - The project aims for a comprehensive energy-saving rate of 35.96% after the upgrades, utilizing solar panels, energy-efficient lighting, and high-efficiency heating and cooling systems [1] Group 3: Service Offerings - Post-renovation, the facility will provide various platforms for concept validation, pilot production, and testing services, including project evaluation, analysis testing, microbial testing, and international standard technology services [1] - Additional amenities such as parking lots, charging stations, cafes, and presentation rooms will be constructed to enhance convenience for surrounding businesses and residents [2]

Core Insights - The company, Jiuzhoutong, held its Q3 2025 earnings presentation on November 4, focusing on the progress and development plans of its "Jiuyi Clinics" membership stores [1] Group 1: Membership Store Development - As of September 30, 2025, the company has over 3,000 membership clinics and aims to achieve a target of "10,000 clinic alliances" within three years [1] - In collaboration with upstream enterprises such as Taiji, China Resources Sanjiu, and Changfeng Pharmaceutical, the company has introduced over 490 new products in the first three quarters, resulting in a 69% quarter-on-quarter increase in sales of specialized products for clinics [1] Group 2: Digital Empowerment - The company has developed its own Jiuyi SaaS clinic management system, which has been implemented in over 2,000 membership stores, facilitating rapid record-keeping, electronic prescriptions, medical insurance settlements, and drug traceability [1] - A partnership with Tencent Cloud has led to the development of an AI-assisted diagnostic platform that covers nearly 3,000 diseases and over 110,000 drug knowledge entries, with the addition of DeepSeek technology in September [1] - The AI-assisted diagnostic system has reached a peak monthly usage of 69,000 times, significantly enhancing the operational and diagnostic efficiency of the clinics [1]