一、会议基本情况 （四）公司参会人员及职务： 副总裁兼财务总监曾祥兴先生、董事会秘书徐扬先生 广西柳药集团股份有限公司 投资者交流会议记录 证券代码：603368 证券简称：柳药集团 （五）调研机构名称（排名不分先后）： 工银瑞信基金、中银基金、红土创新基金、光大保德信基金、生命保险资产、 上海灏象资产、上海同犇投资、华泰证券、信达证券、中邮证券、平安证券、国盛 证券、兴业证券、浙商证券、Capital group 等机构。 二、会议交流主要内容 （一）介绍公司 2025 年半年度经营情况 2025年上半年，公司坚持"稳中求进，协同创新"发展策略，一方面坚持"有 所为有所不为"标准，强化风险防控能力，稳住基本盘的同时抢占优质市场、拓展 新的业务领域；另一方面发挥"药械协同、批零协同、工商协同"优势，强化渠道 资源共享，产业链协作，推动优质创新药械产品的引进和终端药械市场份额提升， 加快自产工业产品的市场拓展，并应用新技术赋能企业精细化管理、智慧供应链体 系建设、专业健康服务升级，积极打造"AI+医疗"全场景应用，以数字化、精细化、 专业化、生态化、协同化驱动企业降本增效、传统业态转型和工业做大做强，实现 企业 ...

二〇二五年九月十五日 广西柳药集团股份有限公司 2025 年第二次临时股东会 会 议 文 件 | 序号 | 议案名称 | | --- | --- | | 1 | 《关于变更注册资本、取消监事会及修订<公司章程>的议案》 | | 2.00 | 《关于修订、制定公司部分治理制度的议案》 | | 2.01 | 《股东会议事规则》 | | 2.02 | 《董事会议事规则》 | | 2.03 | 《独立董事工作制度》 | | 2.04 | 《募集资金管理制度》 | | 3 | 《关于购买董事、高级管理人员责任险的议案》 | | 4 | 年股票期权激励计划（草案） 《关于<广西柳药集团股份有限公司 2025 | | | 及其摘要>的议案》 | | 5 | 《关于<广西柳药集团股份有限公司 年股票期权激励计划实施考核 2025 | | | 管理办法>的议案》 | | 6 | 《关于核实<广西柳药集团股份有限公司 年股票期权激励计划激励 2025 | | | 对象名单>的议案》 | 3 | | | 2025 年第二次临时股东会会议议程 广西柳药集团股份有限公司 2025 年第二次临时股东会会议议程 一、会议基本情况 二、会议 ...

| 证券代码：603368 | 证券简称：柳药集团 | 公告编号：2025-074 | | --- | --- | --- | | 转债代码：113563 | 转债简称：柳药转债 | | 广西柳药集团股份有限公司 关于为下属控股子公司提供担保的进展公告 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： 担保对象及基本情况 | | 被担保人名称 | | | 广西南宁柳药药业有限公司（简称"南宁柳药"） | | --- | --- | --- | --- | --- | | | 本次担保金额 | 1,298.11 | 万元 | | | 担保 对象一 | 实际为其提供的担保余额 | 139,094.77 | | 万元（含本次） | | | 是否在前期预计额度内 | 是 | □否 | □不适用：_________ | | | 本次担保是否有反担保 | □是 | 否 | □不适用：_________ | | 担保 | 被担保人名称 | | | 广西仙茱制药有限公司（简称"仙茱制药"） | | | 本次担保金额 | 2, ...

Group 1 - The core point of the article is that Liu Pharmaceutical Group announced a share buyback, having repurchased 5.0745 million shares, which represents 1.28% of the company's total share capital as of August 31, 2025 [2]

Group 1 - The company, Liu Pharmaceutical Group (603368.SH), announced a share buyback program, with a total of 5.0745 million shares repurchased as of August 31, 2025 [1] - The repurchased shares account for 1.28% of the company's total share capital [1] - The highest price for the repurchased shares was 18.60 yuan per share, while the lowest price was 18.08 yuan per share, with a total expenditure of 93.5503 million yuan (excluding transaction fees) [1]

| 证券代码：603368 | 证券简称：柳药集团 | 公告编号：2025-073 | | --- | --- | --- | | 转债代码：113563 | 转债简称：柳药转债 | | 广西柳药集团股份有限公司 关于以集中竞价交易方式股份回购的进展公告 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： | 回购方案首次披露日 | 2025/7/26 | | | | | | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 2025 年 7 月 7 月 | 25 | 日~2026 | 年 | 24 日 | | 预计回购金额 | 10,000万元~20,000万元 | | | | | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 | | | | | | | □用于转换公司可转债 | | | | | | | □为维护公司价值及股东权益 | | | | | | 累计已回购股数 | 507.45万股 | | | | | | 累计已回购股数占总股本比例 | ...

Financial Performance - The company reported a net profit of 429 million yuan for the first half of 2025, a year-on-year decrease of 7.52% [1] - Total operating revenue for the same period was 10.301 billion yuan, down 3.21% year-on-year [1] - The gross profit margin was 11.07%, a decrease of 6.28% compared to the previous year [1] - The net profit margin was 4.26%, down 7.72% year-on-year [1] - Earnings per share decreased by 12.9% to 1.08 yuan [1] Cash Flow and Debt - The company has a healthy cash position, with cash assets being robust [2] - The estimated dividend yield is 4.27% [3] - The cash flow situation is a point of concern, with cash assets to current liabilities ratio at 39.9% and the average operating cash flow to current liabilities ratio at 7.8% over the past three years [5] - The interest-bearing debt ratio has reached 22.27% [5] Business Model and Market Position - The company's performance is primarily driven by marketing efforts, necessitating a deeper analysis of the underlying drivers [4] - The company’s return on invested capital (ROIC) was 8.85% last year, indicating average capital returns [1] - Analysts expect the company's performance for 2025 to be around 849 million yuan, with an average earnings per share forecast of 2.14 yuan [6] Shareholder Information - The largest fund holding the company’s shares is the Hongtu Innovation Stable Mixed A fund, with a holding of 112,200 shares [7] - The fund's current scale is 0.75 billion yuan, with a recent net value of 1.6008, reflecting a 4.18% increase over the past year [7]

Core Viewpoint - The board of directors of Guangxi Liuyuan Pharmaceutical Group Co., Ltd. held its 28th meeting, approving several key proposals including the half-year report and various governance changes aimed at enhancing operational efficiency and corporate governance [1][2][3]. Meeting Details - The board meeting was held on August 28, 2025, with all 7 directors present, ensuring compliance with legal and procedural requirements [1]. Financial Reports - The board approved the 2025 half-year report and its summary, with unanimous support from all directors [2]. - A special report on the use of raised funds was also approved, reflecting accurate management of funds during the reporting period [2]. Governance Changes - The board approved a proposal to change the registered capital and abolish the supervisory board, transferring some supervisory functions to the audit committee [3][4]. - A comprehensive revision of the company's articles of association was proposed to align with governance and regulatory requirements [3][4]. Risk Management - The board proposed purchasing liability insurance for directors and senior management to mitigate operational risks, with the proposal to be submitted to the shareholders' meeting due to conflicts of interest [7]. Incentive Plans - The board approved a draft for the 2025 stock option incentive plan aimed at attracting and retaining talent, which will also be submitted for shareholder approval [10][11]. - A management method for the stock option incentive plan was also approved, ensuring alignment with corporate goals [11][12]. Employee Stock Ownership Plan - The board approved a draft for the 2025 employee stock ownership plan to enhance employee engagement and align interests with shareholders, pending shareholder approval [15][16]. - A management method for the employee stock ownership plan was also established, ensuring compliance with relevant regulations [16][17]. Upcoming Meetings - The board scheduled the second extraordinary shareholders' meeting for September 15, 2025, to review the approved proposals [18].

Core Viewpoint - The company has conducted a necessary review of its 2025 Employee Stock Ownership Plan (ESOP) and has confirmed that the plan complies with relevant laws and regulations, aiming to enhance corporate governance and employee engagement [1][2]. Group 1: Compliance and Legal Framework - The review by the company's Compensation and Assessment Committee indicates that the ESOP adheres to the Company Law, Securities Law, and other regulatory guidelines [1]. - The plan's content is in line with the prohibitions outlined in the self-regulatory guidelines, ensuring that there are no circumstances that would prevent the implementation of the ESOP [1][2]. Group 2: Employee Participation and Benefits - The ESOP does not involve any forced participation or financial assistance from the company to the plan participants, ensuring voluntary engagement [2]. - The plan is designed to improve corporate governance, attract and retain talented management and key personnel, and enhance employee cohesion and company competitiveness [2].

Core Viewpoint - The board's remuneration and assessment committee of Guangxi Liuyuan Group Co., Ltd. has conducted a necessary review of the 2025 stock option incentive plan and agrees to implement it, ensuring compliance with relevant laws and regulations [2][4]. Summary by Relevant Sections - **Regulatory Compliance**: The incentive plan adheres to the provisions of the Company Law, Securities Law, and the Management Measures for Incentive Plans, confirming that there are no prohibitive circumstances for implementing the stock option plan [2][3][4]. - **Eligibility of Incentive Objects**: The incentive objects include company directors, senior management, and core personnel, excluding independent directors and shareholders holding more than 5% of the company's shares. The selection criteria comply with the Management Measures [3][4]. - **Public Disclosure**: The company is required to publicly disclose the names and positions of the incentive objects for at least 10 days before the shareholders' meeting, ensuring transparency in the selection process [3][4]. - **Granting and Exercise Arrangements**: The plan outlines the granting and exercise arrangements for stock options, including the number of options, grant date, exercise price, waiting period, and conditions, all in compliance with legal regulations and without harming the interests of the company and its shareholders [4]. - **Committee Agreement**: The remuneration and assessment committee unanimously agrees to the implementation of the incentive plan, emphasizing its potential to enhance management efficiency and promote sustainable development of the company [4][5].