证券代码：603233 证券简称：大参林 公告编号：2025-050 大参林医药集团股份有限公司 表决结果为：3 票同意、0 票反对、0 票弃权。 2、审议通过《关于公司 2025 年半年度利润分配方案的议案》 第四届监事会第二十次会议决议公告 本公司监事会及全体监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： 一、监事会会议召开情况 大参林医药集团股份有限公司（以下简称"公司"）第四届监事会第二十次 会议通知于 2025 年 8 月 19 日发出，于 2025 年 8 月 28 日以通讯方式召开。本次 会议应到监事 3 人，实到监事 3 人，会议由监事会主席陈智慧先生召集并主持。 会议的出席人数、召集、召开及表决程序均符合《中华人民共和国公司法》和《大 参林医药集团股份有限公司章程》（以下简称"《公司章程》"）的有关规定，会 议决议合法、有效。 二、监事会会议审议情况 1、审议通过《关于公司 2025 年半年度报告及摘要的议案》 监事会在全面了解和认真审核公司编制的 2025 年半年度报告及摘要后，认 为：公司 2025 年半年 ...

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： 一、董事会会议召开情况 大参林医药集团股份有限公司（以下简称"公司"）第四届董事会第二十七 次会议通知于 2025 年 8 月 19 日发出，于 2025 年 8 月 28 日以通讯方式召开，本 次会议应到董事 8 人，实到董事 8 人。本次会议由董事长柯云峰先生召集并主持， 公司监事及部分高级管理人员列席了会议。本次会议的出席人数、召集、召开及 表决程序均符合《中华人民共和国公司法》等法律法规、行政部门规章、规范性 文件和《大参林医药集团股份有限公司章程》（以下简称"《公司章程》"）的规 定，会议决议合法有效。 二、董事会会议审议情况 证券代码：603233 证券简称：大参林 公告编号：2025-049 大参林医药集团股份有限公司 第四届董事会第二十七次会议决议公告 1、审议通过《关于公司 2025 年半年度报告及摘要的议案》 2、审议通过《关于公司 2020 年员工持股计划延期的议案》 基于对公司未来持续稳定发展的信心及公司股票价值的判断，并综合考虑公 司当前 ...

证券代码：603233 证券简称：大参林 公告编号：2025-053 大参林医药集团股份有限公司 关于2025年半年度利润分配方案的公告 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： 一、利润分配方案内容 根据大参林医药集团股份有限公司（以下简称"公司"）《2025 年半年度 报告》（未经审计），2025 年上半年合并报表归属于上市公司股东的净利润为 人民币 798,165,020.98 元。经公司董事会决议，拟以实施权益分派股权登记日 登记的总股本扣减回购部分的股份为基数分配利润。本次利润分配方案如下： 公司于 2025 年 8 月 28 日召开第四届董事会第二十七次会议审议通过该议 案，尚需提交公司 2025 年第二次临时股东大会审议。 每股分配比例：每股派发现金红利 0.34 元（含税） 本次利润分配方案以实施权益分派股权登记日登记的总股本扣减回购部 分的股份为基数分配利润，具体日期将在权益分派实施公告中明确 在实施权益分派的股权登记日前公司总股本发生变动的，拟维持分配比 例不变，相应调整分配总额，并将 ...

[Definitions](index=4&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8A%E4%B9%89) [Definitions of Common Terms](index=4&type=section&id=%E5%B8%B8%E7%94%A8%E8%AF%8D%E8%AF%AD%E9%87%8A%E4%B9%89) This section defines key terms, abbreviations, and industry-specific terminology used throughout the report, ensuring clarity and accurate understanding for readers - The reporting period refers to January 1, 2025, to June 30, 2025[13](index=13&type=chunk) - DTP pharmacies provide direct professional services to patients, including home delivery and medication consultation[13](index=13&type=chunk) - MTM (Medication Therapy Management) involves pharmacists providing professional services like medication education and counseling to enhance treatment efficacy[13](index=13&type=chunk) [Company Profile and Key Financial Indicators](index=5&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) [Company Information](index=5&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E4%BF%A1%E6%81%AF) This section provides the company's basic information, including its official name, legal representative, and stock listing details on the Shanghai Stock Exchange - The company's Chinese name is Dashenlin Pharmaceutical Group Co., Ltd., abbreviated as Dashenlin[15](index=15&type=chunk) - The company's legal representative is Ke Guoqiang[15](index=15&type=chunk) - The company's stock code is **603233**, listed on the Shanghai Stock Exchange[19](index=19&type=chunk) [Contact Persons and Information](index=5&type=section&id=%E4%BA%8C%E3%80%81%E8%81%94%E7%B3%BB%E4%BA%BA%E5%92%8C%E8%81%94%E7%B3%BB%E6%96%B9%E5%BC%8F) This section provides contact details for the Board Secretary and Securities Affairs Representative, facilitating investor communication - The Board Secretary is Peng Guangzhi, and the Securities Affairs Representative is Chen Guozhen[16](index=16&type=chunk) - The company's contact address is No. 410 and 410-1 Longxi Avenue, Liwan District, Guangzhou, Guangdong Province[16](index=16&type=chunk) [Brief Introduction to Changes in Basic Information](index=5&type=section&id=%E4%B8%89%E3%80%81%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5%E5%8F%98%E6%9B%B4%E7%AE%80%E4%BB%8B) This section outlines the company's registered and office addresses, postal code, and website, confirming no changes during the reporting period - The company's registered and office addresses are both No. 410 and 410-1 Longxi Avenue, Liwan District, Guangzhou, Guangdong Province[17](index=17&type=chunk) - The company's website is www.dslyy.com[17](index=17&type=chunk) [Brief Introduction to Changes in Information Disclosure and Document Storage Locations](index=5&type=section&id=%E5%9B%9B%E3%80%81%E4%BF%A1%E6%81%AF%E6%8A%AB%E9%9C%B2%E5%8F%8A%E5%A4%87%E7%BD%AE%E5%9C%B0%E7%82%B9%E5%8F%98%E6%9B%B4%E6%83%85%E5%86%B5%E7%AE%80%E4%BB%8B) This section specifies the company's official information disclosure channels and report storage locations, with no changes reported during the period - The company's designated information disclosure newspapers include China Securities Journal, Shanghai Securities News, Securities Times, and Securities Daily[18](index=18&type=chunk) - The website address for publishing semi-annual reports is www.sse.com.cn[18](index=18&type=chunk) [Company Stock Profile](index=5&type=section&id=%E4%BA%94%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E7%A5%A8%E7%AE%80%E5%86%B5) This section provides a brief overview of the company's stock type, listing exchange, abbreviation, and code, confirming its A-share listing on the Shanghai Stock Exchange - The company's stock type is A-shares, listed on the Shanghai Stock Exchange[19](index=19&type=chunk) - The stock abbreviation is Dashenlin, and the stock code is **603233**[19](index=19&type=chunk) [Company's Key Accounting Data and Financial Indicators](index=5&type=section&id=%E4%B8%83%E3%80%81%E5%85%AC%E5%8F%B8%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section presents the company's key accounting data and financial indicators for H1 2025, highlighting growth in revenue, net profit, and operating cash flow, indicating enhanced profitability Key Accounting Data for H1 2025 | Indicator | Current Period (Jan-Jun) (RMB) | Prior Period (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 13,522,572,876.63 | 13,345,351,847.62 | 1.33 | | Total Profit | 1,123,847,435.29 | 900,850,479.92 | 24.75 | | Net Profit Attributable to Shareholders of Listed Company | 798,165,020.98 | 657,593,968.87 | 21.38 | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Items) | 788,956,662.15 | 658,926,951.84 | 19.73 | | Net Cash Flow from Operating Activities | 2,910,420,631.30 | 1,767,382,620.57 | 64.67 | | Net Assets Attributable to Shareholders of Listed Company (Period-End) | 7,331,744,927.94 | 6,897,244,933.36 | 6.30 | | Total Assets (Period-End) | 25,451,009,709.14 | 26,439,810,444.79 | -3.74 | Key Financial Indicators for H1 2025 | Indicator | Current Period (Jan-Jun) | Prior Period | YoY Change | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (RMB/share) | 0.70 | 0.58 | 20.69% | | Diluted Earnings Per Share (RMB/share) | 0.70 | 0.58 | 20.69% | | Basic EPS (Excluding Non-Recurring Items) (RMB/share) | 0.69 | 0.58 | 18.97% | | Weighted Average Return on Net Assets (%) | 11.03 | 9.24 | Increase 1.79 percentage points | | Weighted Average Return on Net Assets (Excluding Non-Recurring Items) (%) | 10.90 | 9.26 | Increase 1.64 percentage points | - Operating revenue increased by **1.33%**, primarily driven by organic growth of existing stores and contributions from new and franchised stores[22](index=22&type=chunk) - Net profit attributable to shareholders and non-recurring net profit increased by **21.38%** and **19.73%** respectively, mainly due to revenue growth, improved management efficiency, and effective control of total operating costs[22](index=22&type=chunk) [(一) Key Accounting Data](index=6&type=section&id=(%E4%B8%80)%20%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE) H1 2025 saw operating revenue grow **1.33%** to **RMB 13.52 billion**, total profit rise **24.75%** to **RMB 1.12 billion**, and net operating cash flow surge **64.67%** to **RMB 2.91 billion** Key Accounting Data for H1 2025 | Indicator | Current Period (Jan-Jun) (RMB) | Prior Period (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 13,522,572,876.63 | 13,345,351,847.62 | 1.33 | | Total Profit | 1,123,847,435.29 | 900,850,479.92 | 24.75 | | Net Profit Attributable to Shareholders of Listed Company | 798,165,020.98 | 657,593,968.87 | 21.38 | | Net Cash Flow from Operating Activities | 2,910,420,631.30 | 1,767,382,620.57 | 64.67 | [(二) Key Financial Indicators](index=6&type=section&id=(%E4%BA%8C)%20%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) H1 2025 basic and diluted EPS both grew **20.69%** to **RMB 0.70/share**, with weighted average ROE increasing **1.79 percentage points** to **11.03%**, signaling stronger profitability Key Financial Indicators for H1 2025 | Indicator | Current Period (Jan-Jun) | Prior Period | YoY Change | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (RMB/share) | 0.70 | 0.58 | 20.69% | | Diluted Earnings Per Share (RMB/share) | 0.70 | 0.58 | 20.69% | | Weighted Average Return on Net Assets (%) | 11.03 | 9.24 | Increase 1.79 percentage points | [Non-Recurring Gains and Losses Items and Amounts](index=6&type=section&id=%E4%B9%9D%E3%80%81%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%92%8C%E9%87%91%E9%A2%9D) This section details the company's H1 2025 non-recurring gains and losses, totaling **RMB 9.21 million**, including government subsidies and financial asset fair value changes Non-Recurring Gains and Losses Items and Amounts for H1 2025 | Non-Recurring Item | Amount (RMB) | | :--- | :--- | | Gains/Losses on Disposal of Non-Current Assets | 482,865.24 | | Government Subsidies Recognized in Current Profit/Loss | 7,161,087.97 | | Gains/Losses from Fair Value Changes and Disposal of Financial Assets | 4,844,559.80 | | Gains/Losses from Entrusted Investments or Asset Management | 125,779.96 | | Other Non-Operating Income and Expenses | -4,228,672.61 | | Less: Income Tax Impact | 2,618,297.57 | | Minority Interest Impact (After Tax) | -3,441,036.04 | | Total | 9,208,358.83 | [Management Discussion and Analysis](index=7&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) [Company's Industry and Main Business Operations During the Reporting Period](index=7&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E6%89%80%E5%B1%9E%E8%A1%8C%E4%B8%9A%E5%8F%8A%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E6%83%85%E5%86%B5%E8%AF%B4%E6%98%8E) This section details the company's core pharmaceutical retail business, integrated operating model, industry trends, and market position, highlighting growth drivers and competitive challenges - The company's main business includes chain retail of Chinese and Western medicines, ginseng and tonic herbs, traditional Chinese medicine decoction pieces, health products, and medical devices[28](index=28&type=chunk) - The company's operating model encompasses direct retail, direct-franchise, distribution, and manufacturing[29](index=29&type=chunk) - As of the end of the reporting period, the company operates **10,370 direct stores** and **6,463 franchised stores** across **21 provinces**[30](index=30&type=chunk)[31](index=31&type=chunk) - China's aging population continues to intensify, with those aged 60 and above projected to exceed **400 million** by 2035, accounting for over **30%** of the national population, continuously boosting demand for pharmaceutical retail[34](index=34&type=chunk) - In 2024, national retail pharmaceutical sales reached **RMB 574 billion**, growing **3.7%** YoY; the physical pharmacy retail market declined **1.8%** YoY[41](index=41&type=chunk)[42](index=42&type=chunk) - The company was ranked **first** in the '2024-2025 China Pharmacy Value List Top 100' and holds a leading market share in Guangdong, Guangxi, Henan, and Heilongjiang[46](index=46&type=chunk) [(1) Explanation of Main Business Operations](index=7&type=section&id=(1)%20%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E6%83%85%E5%86%B5%E8%AF%B4%E6%98%8E) The company, a leading pharmaceutical retail chain, operates an integrated 'direct retail, direct-franchise, distribution, and manufacturing' model, focusing on South China and expanding nationwide with a robust supply chain - The company's main business is chain retail of Chinese and Western medicines, ginseng and tonic herbs, traditional Chinese medicine decoction pieces, health products, medical devices, and other commodities[28](index=28&type=chunk) - The company has established long-term partnerships with over **10,000 manufacturers**, operates **37 warehouses** nationwide with a total storage area of **415,600 square meters**, and handles over **80%** of its own deliveries[29](index=29&type=chunk) - As of the end of the reporting period, the company operates **10,370 direct stores** and **6,463 franchised stores** across **21 provinces**[30](index=30&type=chunk)[31](index=31&type=chunk) - The company's manufacturing business includes traditional Chinese medicine decoction pieces, ginseng and tonics, health products, and Chinese and Western medicines, with core brands such as 'Dongzi Yunxuan', 'Kekekang', 'Nuobeihuale', 'Dongteng Ejiao', and 'Fuer'[32](index=32&type=chunk)[33](index=33&type=chunk) [(2) Explanation of Industry Situation](index=9&type=section&id=(2)%20%E8%A1%8C%E4%B8%9A%E6%83%85%E5%86%B5%E8%AF%B4%E6%98%8E) The pharmaceutical retail sector benefits from an aging population and rising healthcare spending but faces challenges from declining consumption, intense competition, and stricter regulations, leading to slowing store growth and increasing industry concentration - As of the end of 2024, the national population aged 60 and above accounted for **22.0%**, projected to exceed **400 million** by 2035, surpassing **30%** and entering a phase of severe aging[34](index=34&type=chunk) - Total health expenditure increased from **RMB 4.097 trillion** in 2015 to **RMB 9.058 trillion** in 2023, with per capita health expenditure rising from **RMB 2,962.18** to **RMB 6,425.32**[35](index=35&type=chunk) - By the end of 2024, the total number of pharmacies nationwide was approximately **675,000**, with a significant slowdown in growth; Q1 2025 saw a net closure of **3,166 stores**, accelerating industry consolidation[39](index=39&type=chunk)[40](index=40&type=chunk) - In 2024, national retail pharmaceutical sales reached **RMB 574 billion**, growing **3.7%** YoY; the physical pharmacy retail market declined **1.8%** YoY, with health products, medical devices, and traditional Chinese medicine decoction pieces experiencing a downturn[41](index=41&type=chunk) - The proportion of retail pharmacies in total pharmaceutical sales increased from **23.4%** in 2019 to **30.8%** in 2024[42](index=42&type=chunk) [(3) Company's Industry Position](index=11&type=section&id=(3)%20%E5%85%AC%E5%8F%B8%E6%89%80%E5%A4%84%E8%A1%8C%E4%B8%9A%E5%9C%B0%E4%BD%8D) The company holds a prominent position in pharmaceutical retail, operating across **21 provinces** with strong South China presence, recognized as a 'China Well-known Trademark' and ranked **first** in the '2024-2025 China Pharmacy Value List Top 100' - The company's operations cover **21 provinces** (including autonomous regions and municipalities) such as Guangdong, Guangxi, Henan, and Heilongjiang[46](index=46&type=chunk) - 'Dashenlin' has been recognized as a 'China Well-known Trademark' and 'Guangdong Famous Trademark'[46](index=46&type=chunk) - The company was ranked **first** in the '2024-2025 China Pharmacy Value List Top 100'[46](index=46&type=chunk) [Discussion and Analysis of Operating Performance](index=11&type=section&id=%E4%BA%8C%E3%80%81%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5%E7%9A%84%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) Despite a complex industry, H1 2025 saw revenue reach **RMB 13.52 billion** (**+1.33%**) and net profit attributable to parent **RMB 798 million** (**+21.38%**), driven by strategic store expansion, new retail, and digital transformation - In H1 2025, the company achieved operating revenue of **RMB 13.52 billion**, a **1.33%** YoY increase[48](index=48&type=chunk) - Net profit attributable to shareholders of the listed company was **RMB 798 million**, a **21.38%** YoY increase[48](index=48&type=chunk) - Net profit attributable to shareholders of the listed company after deducting non-recurring items was **RMB 788 million**, a **19.73%** YoY increase[48](index=48&type=chunk) [1、Continuous Store Expansion, Driven by Self-Built + M&A + Direct-Franchise](index=12&type=section&id=1%E3%80%81%E9%97%A8%E5%BA%97%E6%8C%81%E7%BB%AD%E6%8B%93%E5%B1%95%EF%BC%8C%E8%87%AA%E5%BB%BA%2B%E5%B9%B6%E8%B4%AD%2B%E7%9B%B4%E8%90%A5%E5%BC%8F%E5%8A%A0%E7%9B%9F%E5%85%B1%E5%90%8C%E5%8F%91%E5%8A%9B) The company expanded its store network to **16,833** across **21 provinces** via 'self-built + M&A + direct-franchise' model, opening **152** new self-built and **413** franchised stores, while closing **285** for optimization - As of the end of the reporting period, the company's store count reached **16,833**, comprising **10,370 direct stores** and **6,463 franchised stores**[48](index=48&type=chunk) - During the reporting period, the company opened **152 new self-built stores**, **0 acquired stores**, **413 franchised stores**, and closed **285 stores**[48](index=48&type=chunk) - The company has covered most provincial-level administrative regions in mainland China (**21 provinces**), with national layout largely achieved, and will subsequently focus on increasing market share in existing provinces[49](index=49&type=chunk) [2、Rapid Growth in New Retail, Accelerating Concentration](index=13&type=section&id=2%E3%80%81%E6%96%B0%E9%9B%B6%E5%94%AE%E5%BF%AB%E9%80%9F%E5%A2%9E%E9%95%BF%EF%BC%8C%E5%8A%A0%E9%80%9F%E9%9B%86%E4%B8%AD%E5%BA%A6%E6%8F%90%E5%8D%87) The company actively developed an integrated new retail model, achieving **93.54%** O2O service coverage and building a 'public-private-full domain' customer ecosystem, driving rapid online business growth and market concentration - As of H1 2025, the company's O2O medication delivery service coverage reached **93.54%** of its stores[51](index=51&type=chunk) - The company built an exclusive member health community via the 'Dashenlin Health' mini-program, offering chronic disease management and medication consultation services to boost user repurchase rates[51](index=51&type=chunk) [3、Continuous Prescription Outflow, Company Actively Undertakes](index=13&type=section&id=3%E3%80%81%E5%A4%84%E6%96%B9%E6%8C%81%E7%BB%AD%E5%A4%96%E6%B5%81%EF%BC%8C%E5%85%AC%E5%8F%B8%E7%A7%AF%E6%9E%81%E6%89%BF%E6%8E%A5) Responding to prescription outflow, the company actively built a prescription承接 system, with **97.95%** of direct stores obtaining medical insurance qualifications, and is exploring a 'medical + pharmacy + wellness + examination + insurance' business closed-loop - The proportion of retail pharmacies in total terminal sales increased from **23.4%** in 2019 to **30.8%** in 2024[53](index=53&type=chunk) - As of the end of the reporting period, the company's direct stores include **278 DTP professional pharmacies**, **10,157 medical insurance designated stores** for personal accounts, and **2,982 designated stores** for various pooled reimbursement schemes[53](index=53&type=chunk) - The company actively explores value-added models combining pharmaceutical and insurance businesses, establishing a 'medical + pharmacy + wellness + examination + insurance' business closed-loop[54](index=54&type=chunk) [4、Agile and Efficient Supply Chain System Gradually Taking Shape, Further Enhancing Competitive Advantage](index=14&type=section&id=4%E3%80%81%E6%95%8F%E6%8D%B7%E9%AB%98%E6%95%88%E7%9A%84%E4%BE%9B%E5%BA%94%E9%93%BE%E4%BD%93%E7%B3%BB%E9%80%90%E6%AD%A5%E6%89%93%E9%80%A0%E6%88%90%E5%9E%8B%EF%BC%8C%E7%AB%9E%E4%BA%89%E4%BC%98%E5%8A%BF%E8%BF%9B%E4%B8%80%E6%AD%A5%E6%8F%90%E5%8D%87) The company developed an agile supply chain, emphasizing affordability with a 'triple difference refund' policy, launching **15 best-selling items** and **375 new products**, and implementing intelligent replenishment systems to boost efficiency - The company promotes 'triple difference refund if found cheaper' to consumers, with internal price competitiveness as a key performance indicator[54](index=54&type=chunk) - The company developed **15 best-selling products** such as Sildenafil and Bear Gallbladder Powder, introduced **375 new varieties** (excluding DTP), and eliminated **1,532 varieties**[55](index=55&type=chunk) - The company formed strategic partnerships with **25 brand manufacturers**, securing exclusive products, preferential marketing resources, and lowest supply costs[55](index=55&type=chunk) - Intelligent replenishment, distribution, and return systems were launched and rolled out to almost all stores and warehouses, significantly reducing stock-out rates and inventory turnover days[56](index=56&type=chunk) [5、Rapid Increase in Member Count, Gradually Improving Precision Marketing System](index=15&type=section&id=5%E3%80%81%E4%BC%9A%E5%91%98%E4%BA%BA%E6%95%B0%E5%BF%AB%E9%80%9F%E6%8F%90%E5%8D%87%EF%BC%8C%E7%B2%BE%E5%87%86%E8%90%A5%E9%94%80%E4%BD%93%E7%B3%BB%E9%80%90%E6%AD%A5%E5%AE%8C%E5%96%84) The company's member base grew to over **120 million**, with **7.6 million** new members added, leveraging a SCRM-based platform for integrated online-offline management and AI-driven precision marketing, delivering **183 million** health consultations - The company has over **120 million members**, including **63.82 million active members** (within two years), with **7.6 million new members** acquired during the reporting period[56](index=56&type=chunk) - The company developed a SCRM (Social Customer Relationship Management)-based member platform, with card issuance accounting for over **80%** during the reporting period[57](index=57&type=chunk) - Leveraging big data analytics and AI models, the company delivered **183 million personalized care and health consultations** to members[57](index=57&type=chunk) [6、Digital Transformation Journey Showing Initial Results](index=15&type=section&id=6%E3%80%81%E6%95%B0%E5%AD%97%E5%8C%96%E5%BE%81%E7%A8%8B%E5%B7%B2%E5%88%9D%E8%A7%81%E6%88%90%E6%95%88) The company's digital transformation shows initial success, with over ten company-level projects supporting efficient operations for thousands of stores, including HarmonyOS adaptation and the launch of 'AI Xiaocan' with DeepSeek-R1 for enhanced customer service and efficiency - The company implemented over ten company-level digital projects, including product digitalization, smart supply chain, operational intelligence, franchise service intelligence, and financial intelligence[58](index=58&type=chunk) - The company's internal office system was the first to complete native HarmonyOS adaptation; its product 'Dashenlin Encyclopedia' won the 'HarmonyOS Experience Enhancement Award', and 'Canyihao' received the 'HarmonyOS Application Listing Award'[59](index=59&type=chunk) - The company launched 'AI Xiaocan', integrated with DeepSeek-R1, providing instant Q&A, customer service responses, and intelligent analysis, reducing query response time by **80%**[59](index=59&type=chunk)[60](index=60&type=chunk) [Analysis of Core Competitiveness During the Reporting Period](index=16&type=section&id=%E4%B8%89%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) The company's core competitiveness stems from its national strategy, direct-franchise model, scale economies, digital operations, agile supply chain, professional services, proprietary logistics, strong brand, and diverse talent, ensuring leadership and sustainable growth - The company has become China's largest chain pharmacy by scale, with **16,833 stores** (including **6,463 franchised stores**) as of the end of the reporting period[62](index=62&type=chunk) - The company's 'three-pronged approach' of self-building, M&A, and direct-franchise drives industry-leading store expansion speed and scale[63](index=63&type=chunk) - The company was ranked **first** in the '2024-2025 China Pharmacy Value List Top 100'[63](index=63&type=chunk) - The company established an IT team of nearly **400 people**, primarily focusing on self-developed digital strategies, deploying DeepSeek locally, and launching 'AI Xiaocan'[65](index=65&type=chunk) - The company boasts over **1,000 private label products**, with traditional Chinese medicine and ginseng/tonic products as specialties, sourced directly from origins and processed in self-built factories[66](index=66&type=chunk) - The company has over **170 MTM pharmacists** specially trained and certified by China Pharmaceutical University, and over **1,500 chronic disease service personnel** with internal star ratings[69](index=69&type=chunk) - The company operates **37 warehouses** nationwide with a total storage area of **415,600 square meters**, achieving over **80%** self-delivery volume and a **99%** total warehouse fulfillment rate[69](index=69&type=chunk)[71](index=71&type=chunk) - The company signed strategic cooperation agreements with nearly **200 universities** nationwide to deepen industry-education integration and implemented diversified incentive mechanisms such as equity incentives and employee stock ownership plans[72](index=72&type=chunk)[75](index=75&type=chunk) [(1) National Strategy Fully Advanced, Pioneering Direct-Franchise Model, Greater Development Space](index=16&type=section&id=(1)%20%E5%85%A8%E5%9B%BD%E6%88%98%E7%95%A5%E5%85%A8%E9%9D%A2%E6%8E%A8%E8%BF%9B%EF%BC%8C%E9%A6%96%E5%88%9B%E7%9B%B4%E8%90%A5%E5%BC%8F%E5%8A%A0%E7%9B%9F%E6%A8%A1%E5%BC%8F%EF%BC%8C%E5%8F%91%E5%B1%95%E7%A9%BA%E9%97%B4%E6%9B%B4%E5%A4%A7) Adhering to its 'deep cultivation in South China, national layout' strategy, the company expanded to **16,833 stores** across **21 provinces** via self-building, M&A, and its pioneering direct-franchise model, becoming China's largest chain pharmacy - The company adheres to its core development strategy of 'deep cultivation in South China, national layout', promoting regional scaling and refined management[62](index=62&type=chunk) - The company pioneered the direct-franchise model in 2019, accelerating store expansion and rapidly boosting scale[62](index=62&type=chunk) - As of the end of the reporting period, the company operates a total of **16,833 stores** (including **6,463 franchised stores**), with operations covering **21 provinces**[62](index=62&type=chunk) - During the reporting period, the company's main business sales grew by **0.79%**, with Central China growing **9.15%**, East China **4.02%**, and Northeast, North, Northwest, and Southwest regions growing **7.81%**[62](index=62&type=chunk) [(2) Economies of Scale Gradually Becoming Prominent](index=17&type=section&id=(2)%20%E8%A7%84%E6%A8%A1%E6%95%88%E5%BA%94%E9%80%90%E6%AD%A5%E5%87%B8%E6%98%BE) As China's largest chain pharmacy by revenue and store count, the company's scale enhances bargaining power and spreads costs across operations, steadily improving profitability - The company has become China's largest chain pharmacy by revenue and store count, ranking **first** in the 2024-2025 China Pharmacy Value List[63](index=63&type=chunk) - Economies of scale have strengthened the company's bargaining power with suppliers and spread various operating costs, driving improved profitability[63](index=63&type=chunk) [(3) Digital and Intelligent Empowerment of Operations and Refined Management](index=17&type=section&id=(3)%20%E6%95%B0%E6%99%BA%E5%8C%96%E8%B5%8B%E8%83%BD%E8%BF%90%E8%90%A5%E5%8F%8A%E7%B2%BE%E7%BB%86%E5%8C%96%E7%AE%A1%E7%90%86) The company integrated digitalization across all business segments, building a comprehensive digital ecosystem for online operations, enhancing decision-making efficiency and management quality through mobile tools, dashboards, and AI-driven human-machine collaboration - The company built a comprehensive digital ecosystem, achieving full online integration of employees, products, customers, and management[64](index=64&type=chunk) - The dual mid-platform architecture of business and data platforms was perfected, resolving data silo issues[64](index=64&type=chunk) - Digital tools such as automatic replenishment, intelligent site selection, and smart promotion systems were launched, reducing stock-out rates and inventory turnover days[65](index=65&type=chunk) - DeepSeek was deployed locally, and 'AI Xiaocan' integrated with DeepSeek-R1 was launched, providing intelligent Q&A and customer service analysis functions[65](index=65&type=chunk) - The company established an IT team of nearly **400 people**, primarily focusing on self-developed solutions to drive its digital strategy[66](index=66&type=chunk) [(4) Agile and Efficient Supply Chain System](index=18&type=section&id=(4)%20%E6%95%8F%E6%8D%B7%E9%AB%98%E6%95%88%E7%9A%84%E4%BE%9B%E5%BA%94%E9%93%BE%E4%BD%93%E7%B3%BB) The company established an agile supply chain with a product management system, introducing new products, developing over **1,000 private label brands**, and partnering with over **10,000 manufacturers** to ensure cost-effectiveness and competitive pricing - The company established a product management system centered on product insight and strategy, tender and procurement, operational planning, and display planning[66](index=66&type=chunk) - Over **1,000 private label products** cover categories such as pharmaceuticals, traditional Chinese medicine and ginseng/tonics, health products, and medical devices[66](index=66&type=chunk) - The company has established stable, win-win partnerships with over **10,000 manufacturers**, with a total of over **100,000 SKUs**[67](index=67&type=chunk) - Procurement costs are reduced through tenders and volume-based procurement, with retail prices adjusted promptly based on market changes[67](index=67&type=chunk) [(5) Professional Service Capabilities](index=19&type=section&id=(5)%20%E4%B8%93%E4%B8%9A%E5%8C%96%E6%9C%8D%E5%8A%A1%E8%83%BD%E5%8A%9B) The company prioritizes public health with 'quality first, standardized operations', offering professional pharmaceutical services like prescription review and health screening, and collaborates with the Guangdong Pharmaceutical Association to advance MTM services and chronic disease management with over **170 MTM pharmacists** and **1,500 chronic disease service personnel** - The company provides professional pharmaceutical services including prescription review, health screening, consultation, medication reminders, and patient medication education[68](index=68&type=chunk) - Collaborating with the Guangdong Pharmaceutical Association to promote Medication Therapy Management (MTM) services, deeply exploring vertical disease management for nine major conditions[68](index=68&type=chunk) - The company has over **170 MTM pharmacists** specially trained and certified by China Pharmaceutical University, and over **1,500 chronic disease service personnel** with internal star ratings[69](index=69&type=chunk) - Over **1 million blood pressure, blood glucose, and uric acid tests** have been conducted, along with over **40,000 patient education and training activities**[69](index=69&type=chunk) [(6) Cost-Reducing and Efficiency-Enhancing Proprietary Logistics and Distribution System, Ensuring Pharmaceutical Product Quality and Safety](index=19&type=section&id=(6)%20%E9%99%8D%E6%9C%AC%E5%A2%9E%E6%95%88%E7%9A%84%E8%87%AA%E6%9C%89%E7%89%A9%E6%B5%81%E9%85%8D%E9%80%81%E4%BD%93%E7%B3%BB%EF%BC%8C%E4%BF%9D%E9%9A%9C%E8%8D%AF%E5%93%81%E5%95%86%E5%93%81%E8%B4%A8%E9%87%8F%E5%AE%89%E5%85%A8) The company established a 'group + regional + local' warehouse network with **37 warehouses** and **415,600 square meters** of storage, achieving over **80%** self-delivery. Automation and AI enable smart warehousing, boosting efficiency, reducing costs, and ensuring full traceability - The company established a 'group warehouse + regional warehouse + local warehouse' logistics network, operating **37 warehouses** nationwide with a total storage area of **415,600 square meters**[69](index=69&type=chunk) - Self-delivery volume accounts for over **80%** of total deliveries, ensuring timely medication delivery even in extreme circumstances[69](index=69&type=chunk) - The logistics center achieved smart warehousing through self-development and collaboration, investing in automation equipment and AI technology, resulting in a **99%** total warehouse fulfillment rate and a dispatch error rate below **0.008%**[70](index=70&type=chunk)[71](index=71&type=chunk) [(7) Excellent Brand Recognition and Influence](index=20&type=section&id=(7)%20%E5%87%BA%E8%89%B2%E7%9A%84%E5%93%81%E7%89%8C%E7%9F%A5%E5%90%8D%E5%BA%A6%E5%8F%8A%E5%BD%B1%E5%93%8D%E5%8A%9B) The company continuously enhances the 'Dashenlin' brand through quality, affordability, professional services, and social responsibility, becoming China's largest chain pharmacy by store and sales scale, earning numerous awards - 'Dashenlin' has been recognized as a 'China Well-known Trademark' and 'Guangdong Famous Trademark'[71](index=71&type=chunk) - The company has become China's largest chain pharmacy by store and sales scale, receiving honors such as 'First Place in the 2024-2025 China Pharmacy Value List'[71](index=71&type=chunk) - The company actively participates in public welfare, ensures public health safety, and received multiple social responsibility and brand value awards during the reporting period[72](index=72&type=chunk) [(8) Diversified Talent Acquisition, Training, and Incentive System, Empowering Sustainable Development](index=20&type=section&id=(8)%20%E5%A4%9A%E5%85%83%E5%8C%96%E4%BA%BA%E6%89%8D%E5%BC%95%E8%BF%9B%E3%80%81%E5%9F%B9%E5%85%BB%E3%80%81%E6%BF%80%E5%8A%B1%E4%BD%93%E7%B3%BB%EF%BC%8C%E8%B5%8B%E8%83%BD%E5%8F%AF%E6%8C%81%E7%BB%AD%E5%8F%91%E5%B1%95) The company attracts talent through diverse channels, including partnerships with nearly **200 universities**, and has upgraded its talent development system with comprehensive training, mentorship, and diversified incentives like equity plans, ensuring sustainable growth - The company signed strategic cooperation agreements with nearly **200 universities** nationwide to deepen industry-education integration and recruit high-potential graduates for its management trainee program[72](index=72&type=chunk) - In 2025, the talent development system was fully upgraded, reshaping management mechanisms across all stages: assessment, selection, cultivation, utilization, and retention[73](index=73&type=chunk) - The company established four training dimensions—leadership, operational capability, professional skills, and general competencies—and independently developed over **5,000 'three-capability' learning courses**[74](index=74&type=chunk) - The company implemented diversified compensation incentive systems, including equity incentives, employee stock ownership plans, and excess dividends, to attract and retain outstanding talent[75](index=75&type=chunk) [Key Operating Performance During the Reporting Period](index=21&type=section&id=%E5%9B%9B%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E4%B8%BB%E8%A6%81%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5) This section analyzes H1 2025 key operating performance, including financial statement changes, business composition, store operations, and medical insurance status, showing revenue and cost growth, reduced sales expenses, increased operating cash flow, and expanded store network Changes in Financial Statement Items for H1 2025 | Item | Current Period (RMB) | Prior Period (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 13,522,572,876.63 | 13,345,351,847.62 | 1.33 | | Operating Cost | 8,808,207,054.22 | 8,688,674,244.66 | 1.38 | | Selling Expenses | 2,909,772,401.25 | 3,025,466,027.02 | -3.82 | | Administrative Expenses | 581,194,751.86 | 573,769,223.24 | 1.29 | | Financial Expenses | 82,040,820.79 | 103,356,100.52 | -20.62 | | R&D Expenses | 29,398,996.84 | 29,870,124.21 | -1.58 | | Net Cash Flow from Operating Activities | 2,910,420,631.30 | 1,767,382,620.57 | 64.67 | | Net Cash Flow from Investing Activities | -237,972,527.08 | -1,541,729,353.11 | 84.56 | | Net Cash Flow from Financing Activities | -2,353,536,570.39 | -390,404,557.06 | -502.85 | - Operating revenue increased by **1.33%**, primarily due to expanded operating scale, organic store growth, and an increase in store count[76](index=76&type=chunk) - Selling expenses decreased by **3.82%**, mainly due to digital upgrades and improved operational efficiency[78](index=78&type=chunk) - Net cash flow from operating activities increased by **64.67%**, primarily due to sales revenue growth, accelerated collection of receivables, and supply chain optimization[78](index=78&type=chunk) H1 2025 Main Business by Industry, Product, and Region | Category | Operating Revenue (RMB) | Operating Cost (RMB) | Gross Margin (%) | YoY Change in Operating Revenue (%) | | :--- | :--- | :--- | :--- | :--- | | **By Industry** | | | | | | Retail | 11,004,990,683.70 | 6,868,834,525.55 | 37.58 | -0.54 | | Franchise and Distribution | 2,136,485,740.20 | 1,937,010,706.53 | 9.34 | 8.26 | | **By Product** | | | | | | Chinese and Western Medicines | 10,402,771,965.44 | 7,264,311,163.27 | 30.17 | 4.45 | | Traditional Chinese Medicine and Ginseng/Tonics | 1,318,835,460.79 | 758,829,476.23 | 42.46 | -12.96 | | Non-Pharmaceutical Products | 1,419,868,997.67 | 782,704,592.58 | 44.87 | -9.19 | | **By Region** | | | | | | South China Region | 8,383,816,342.33 | 5,385,508,061.22 | 35.76 | -2.57 | | Central China Region | 1,308,377,140.75 | 968,250,035.15 | 26.00 | 9.15 | | East China Region | 1,049,716,595.35 | 718,996,631.68 | 31.51 | 4.02 | | Northeast, North, Southwest, and Northwest Regions | 2,399,566,345.47 | 1,733,090,504.03 | 27.77 | 7.81 | - As of June 30, 2025, the company operates **16,833 stores** (including **6,463 franchised stores**) with a total operating area of **889,512 square meters**[82](index=82&type=chunk) - In H1 2025, the company had a net increase of **280 stores**, with **152 new openings**, **413 franchised stores**, and **285 closures**[82](index=82&type=chunk) - As of June 30, 2025, **10,157** of the company's **10,370 direct chain stores** have obtained various 'medical insurance designated retail pharmacy' qualifications, accounting for **97.95%**[84](index=84&type=chunk) [(一) Main Business Analysis](index=21&type=section&id=(%E4%B8%80)%20%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) H1 2025 main business revenue grew **0.79%**, with retail slightly down **0.54%** and franchise/distribution up **8.26%**; Central China revenue grew **9.15%**. The company added **280 net stores**, achieving **97.95%** medical insurance coverage H1 2025 Main Business by Industry, Product, and Region | Category | Operating Revenue (RMB) | Operating Cost (RMB) | Gross Margin (%) | YoY Change in Operating Revenue (%) | | :--- | :--- | :--- | :--- | :--- | | **By Industry** | | | | | | Retail | 11,004,990,683.70 | 6,868,834,525.55 | 37.58 | -0.54 | | Franchise and Distribution | 2,136,485,740.20 | 1,937,010,706.53 | 9.34 | 8.26 | | **By Product** | | | | | | Chinese and Western Medicines | 10,402,771,965.44 | 7,264,311,163.27 | 30.17 | 4.45 | | Traditional Chinese Medicine and Ginseng/Tonics | 1,318,835,460.79 | 758,829,476.23 | 42.46 | -12.96 | | Non-Pharmaceutical Products | 1,419,868,997.67 | 782,704,592.58 | 44.87 | -9.19 | | **By Region** | | |

证券代码：603233 证券简称：大参林 公告编号：2025-052 大参林医药集团股份有限公司 关于使用闲置自有资金购买银行理财产品的公告 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。 为提高公司资金使用效率、增加资金收益，在不影响公司的正常经营和确 保资金安全的前提下，公司拟对部分闲置自有资金进行现金管理，购买银行理 财产品。 （二）投资金额 公司及并表范围内的子公司拟使用最高额度不超过 50,000 万元的闲置自有 资金购买银行理财产品，期限自本次董事会审议通过之日起 12 个月内有效。在 上述额度和期限范围内，资金可循环滚动使用。 （三）资金来源 公司以闲置自有资金作为购买银行理财产品的资金来源。 （四）投资方式 为控制风险，公司拟使用闲置自有资金择机购买低风险、安全性高、流动 性高的银行理财产品。 （五）投资期限 重要内容提示： 一、本次使用闲置自有资金购买银行理财产品的情况概述 （一）投资目的 公司于 2025 年 8 月 28 日召开第四届董事会第二十七次会议，审议通过了 《关于公司使用闲置自有资金购买银行理财 ...

证券代码：603233 证券简称：大参林 公告编号：2025-051 大参林医药集团股份有限公司 关于 2020 年员工持股计划延期的公告 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个别及连带责任。 大参林医药集团股份有限公司（以下简称"公司"）2020 年员工持股计划（以 下简称"员工持股计划"）的存续期将于 2025 年 12 月 3 日到期，2025 年 8 月 28 日公司召开了第四届董事会第二十七次会议，审议通过了《关于公司 2020 年 员工持股计划延期的议案》，同意将公司 2020 年员工持股计划存续期延长 12 个月，即延长至 2026 年 12 月 3 日。现将相关情况提示公告如下： 一、员工持股计划的基本情况 1、经公司 2020 年 10 月 9 日召开的第三届董事会第九次会议及 2020 年 10 月 26 日召开的 2020 年第四次临时股东大会，审议通过了《关于<大参林医药集 团股份有限公司 2020 年员工持股计划（草案）>及其摘要的议案》及相关议案， 同意实施公司 2020 年员工持股计划，股份来源于 ...

Market Overview - The pharmaceutical commercial sector experienced a decline of 2.71% on August 27, with Saily Medical leading the drop [1] - The Shanghai Composite Index closed at 3800.35, down 1.76%, while the Shenzhen Component Index closed at 12295.07, down 1.43% [1] Individual Stock Performance - Saily Medical (603716) closed at 33.15, down 8.93% with a trading volume of 484,700 shares and a transaction value of 1.671 billion [1] - Other notable declines included HeLiang China (603122) down 5.15%, YaoYigou (300937) down 5.10%, and Guofa Shares (600538) down 4.98% [1] - The overall net outflow of main funds from the pharmaceutical commercial sector was 543 million, while retail investors saw a net inflow of 361 million [1] Fund Flow Analysis - Jiuzhoutong (600998) had a main fund net inflow of 11.8 million, accounting for 18.23% of its total [2] - Dacilin (603233) saw a main fund net inflow of 29.97 million, representing 15.70% [2] - The overall trend indicates a mixed sentiment with main funds withdrawing while retail investors are actively buying [2]

Core Insights - The pharmaceutical commercial sector experienced a slight increase of 0.05% on August 22, with Saily Medical leading the gains [1] - The Shanghai Composite Index closed at 3825.76, up 1.45%, while the Shenzhen Component Index closed at 12166.06, up 2.07% [1] Group 1: Stock Performance - Saily Medical (603716) saw a closing price of 31.52, with a significant increase of 10.02% and a trading volume of 614,300 shares, resulting in a transaction value of 1.861 billion yuan [1] - Guofang Co. (600538) closed at 6.55, up 2.18%, with a trading volume of 218,500 shares [1] - Runda Medical (603108) closed at 18.35, up 1.94%, with a trading volume of 303,900 shares [1] - Other notable stocks include Jiuzhoutong (600998) with a slight increase of 0.55% and Yifeng Pharmacy (603939) with a minimal increase of 0.20% [1] Group 2: Capital Flow - The pharmaceutical commercial sector saw a net inflow of 363 million yuan from main funds, while retail investors experienced a net outflow of 114 million yuan [2] - Speculative funds recorded a net outflow of 249 million yuan [2]

Company Overview - Dazhonglin's stock price closed at 17.27 yuan on August 21, 2025, with a 0.52% increase from the previous trading day and a trading volume of 128 million yuan [1] - The company primarily engages in pharmaceutical retail chain operations, covering categories such as drugs, medical devices, and health products [1] - As of Q1 2025, Dazhonglin has over 16,500 stores, expanding through both direct and franchise models [1] Industry Trends - The retail pharmacy industry is currently undergoing an adjustment period, with approximately 3,000 pharmacies closing nationwide in Q1 2025, leading to increased industry concentration [1] - Dazhonglin plans to accelerate its franchise business to attract small and medium-sized chains and independent pharmacies, aiming to enhance regional market share [1] - The trend towards innovative DTP pharmacies and diversified health services is seen as a direction for industry transformation, which may benefit Dazhonglin [1] Financial Insights - On August 21, 2025, the net outflow of main funds was 10.7369 million yuan, with a cumulative net outflow of 5.2670 million yuan over the past five days [1]

Market Overview - The pharmaceutical commercial sector increased by 0.27% on August 21, with Guofang Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3771.1, up 0.13%, while the Shenzhen Component Index closed at 11919.76, down 0.06% [1] Stock Performance - Guofang Co., Ltd. (600538) closed at 6.41, up 1.91% with a trading volume of 315,600 shares and a transaction value of 202 million yuan [1] - Nanjing Pharmaceutical (600713) closed at 5.39, up 1.70% with a trading volume of 181,000 shares and a transaction value of 96.97 million yuan [1] - Shanghai Pharmaceuticals (601607) closed at 19.20, up 0.95% with a trading volume of 173,600 shares and a transaction value of 333 million yuan [1] - Yifeng Pharmacy (603939) closed at 24.49, up 0.91% with a trading volume of 88,100 shares and a transaction value of 215 million yuan [1] Capital Flow - The pharmaceutical commercial sector experienced a net outflow of 277 million yuan from institutional investors, while retail investors saw a net inflow of 293 million yuan [2] - The data indicates that institutional investors are withdrawing capital, while retail investors are increasing their investments in the sector [2] Individual Stock Capital Flow - Nanjing Pharmaceutical saw a net inflow of 16.81 million yuan from institutional investors, while retail investors had a net outflow of 4.14 million yuan [3] - Yifeng Pharmacy experienced a net inflow of 15.49 million yuan from institutional investors, with a net outflow of 23.62 million yuan from retail investors [3] - China National Pharmaceutical (600056) had a net inflow of 8.93 million yuan from institutional investors, while retail investors had a negligible net inflow of 0.12 million yuan [3]