Core Viewpoint - Liu Pharmaceutical Group (603368) is focusing on AI applications in healthcare and has made significant progress in its clinical trials and stock option plans [1][2][3] Company Announcements - Liu Pharmaceutical Group held its semi-annual performance briefing on October 20, 2025, where it introduced an "AI + Healthcare" full-process service plan aimed at enhancing AI applications in both hospital and supply chain settings [1] - The company announced that its investee, SIF001, has entered Phase I clinical trials in the United States, expected to be completed by early 2026 [1][3] - The company has completed the registration of its 2025 stock option incentive plan, involving 286.32 million options granted to 107 individuals, with a grant price of 18.12 yuan per share [2][3] Financial Performance - As of October 24, 2025, Liu Pharmaceutical Group's stock closed at 18.43 yuan, down 0.65% from the previous week, with a total market capitalization of 7.32 billion yuan [1] - The company has repurchased a total of 8.1079 million shares, with a total expenditure of approximately 148.46 million yuan as of September 30, 2025 [2][3]

Core Viewpoint - The company has completed the registration of its 2025 stock option incentive plan, which includes the granting of 2.8632 million stock options to 107 individuals at a price of 18.12 yuan per share, with a total fair value of 6.2085 million yuan [2][4][7]. Group 1: Incentive Plan Details - The effective period of the incentive plan is up to 36 months from the authorization date [2]. - The waiting period for the stock options is a minimum of 12 months from the authorization date [2]. - The stock options granted will be canceled if the conditions for exercising them are not met within the specified periods [2][3]. Group 2: Granting and Registration Information - The stock option grant date is September 15, 2025, with a total of 2.8632 million options granted [5]. - The registration date for the stock options is October 22, 2025 [4]. - The stock options are sourced from the company's repurchased A-shares in the secondary market [5]. Group 3: Financial Impact - The total fair value of the stock options is estimated at 6.2085 million yuan, which will be recognized as an incentive cost over the implementation period [8]. - The estimated amortization of the stock option costs will impact the net profit for the years 2025 to 2027 [9]. - The incentive plan is expected to enhance employee motivation, improve operational efficiency, and ultimately contribute positively to the company's performance [9].

| 证券代码：603368 | 证券简称：柳药集团 | 公告编号：2025-091 | | --- | --- | --- | | 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 2025 年股票期权激励计划授予登记完成的公告 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。 重要内容提示： 根据《上市公司股权激励管理办法》、上海证券交易所及中国证券登记结算 有限责任公司上海分公司的有关规定，广西柳药集团股份有限公司（以下简称"公 司"）现已完成 2025 年股票期权激励计划（以下简称"本激励计划"）股票期权 的授予登记工作，现将相关情况公告如下： 一、本激励计划已履行的决策程序和信息披露情况 | 序号 | 已履行的决策程序 | 信息披露索引 | | --- | --- | --- | | | 2025 年 8 月 28 日，公司召开第五届董事会第二十八次会 | | | | 议，审议通过《关于<广西柳药集团股份有限公司 2025 年股票期权激励计划（草案）及其摘要>的议案》《关于< ...

Group 1 - On October 22, Liuyao Group's stock price decreased by 0.32%, with a trading volume of 74.30 million yuan [1] - The financing data for Liuyao Group on the same day showed a financing purchase amount of 10.42 million yuan and a financing repayment of 13.71 million yuan, resulting in a net financing outflow of 3.28 million yuan [1] - As of October 22, the total balance of margin trading for Liuyao Group was 540 million yuan, with the financing balance accounting for 7.26% of the circulating market value, indicating a high level compared to the past year [1] Group 2 - As of June 30, Liuyao Group had 32,900 shareholders, a decrease of 0.89% from the previous period, with an average of 12,056 circulating shares per shareholder, an increase of 0.90% [2] - For the first half of 2025, Liuyao Group reported a revenue of 10.30 billion yuan, a year-on-year decrease of 3.21%, and a net profit attributable to shareholders of 429 million yuan, down 7.52% year-on-year [2] - Since its A-share listing, Liuyao Group has distributed a total of 1.79 billion yuan in dividends, with 720 million yuan distributed over the past three years [2]

Core Insights - The pharmaceutical commercial sector saw an increase of 0.83% on October 22, with Jianfa Zhixin leading the gains [1] - The Shanghai Composite Index closed at 3913.76, down 0.07%, while the Shenzhen Component Index closed at 12996.61, down 0.62% [1] Stock Performance - Jianfa Zhixin (301584) closed at 31.00, up 7.19% with a trading volume of 238,100 shares and a transaction value of 734 million [1] - Guoyao Shares (600511) closed at 29.89, up 3.75% with a trading volume of 180,500 shares and a transaction value of 539 million [1] - Zhejiang Nongyuan (000705) closed at 9.81, up 3.05% with a trading volume of 117,170 shares and a transaction value of 168 million [1] - Other notable stocks include Jiashitang (002462) up 1.51%, Daclin (603233) up 1.34%, and Guofa Shares (600538) up 1.20% [1] Capital Flow - The pharmaceutical commercial sector experienced a net outflow of 98.42 million from institutional investors and 51.45 million from retail investors, while individual investors saw a net inflow of 150 million [2] - The capital flow for key stocks shows varying trends, with Shanghai Pharmaceuticals (601607) seeing a net inflow of 31.94 million from institutional investors [3] - Jianfa Zhixin (301584) had a net inflow of 18.64 million from institutional investors but a net outflow of 2.07 million from retail investors [3]

Core Viewpoint - Liu Pharmaceutical Group announced changes to its registered capital and corporate governance structure, including the cancellation of the supervisory board and a comprehensive revision of its articles of association, reflecting the company's operational needs and development strategy [1]. Group 1 - The company will hold its second extraordinary general meeting of shareholders on September 15, 2025, to review the proposal regarding changes to registered capital and the cancellation of the supervisory board [1]. - The company has completed the registration change and filing procedures for its articles of association with the approval of the Liuzhou Administrative Approval Bureau, and has obtained a new business license [1].

一、工商变更登记事由 广西柳药集团股份有限公司（以下简称"公司"）于 2025 年 9 月 15 日召开 2025 年第二次临时股东会，审议通过了《关于变更注册资本、取消监事会及修 订<公司章程>的议案》。公司根据注册资本变更、取消监事会等情况，结合公司 实际情况和经营发展需求，对《公司章程》进行全面修订。具体内容详见公司在 上海证券交易所网站（www.sse.com.cn）及指定媒体上披露的相关公告（公告编 号：2025-068、2025-078）。 证券代码：603368 证券简称：柳药集团 公告编号：2025-090 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 关于完成注册资本工商变更登记的公告 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。 二、工商变更登记情况 近日，经柳州市行政审批局核准，公司完成了注册资本的工商变更登记及《公 司章程》的备案手续，并取得了换发的《营业执照》，相关信息如下： 统一社会信用代码：91450200198592223L 名称：广西柳药集团股份有限公司 类型： ...

Market Overview - The pharmaceutical commercial sector increased by 0.55% on October 21, with First Pharmaceutical leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Stock Performance - First Pharmaceutical (600833) closed at 13.64, up 2.48% with a trading volume of 58,500 shares and a transaction value of 79.03 million yuan [1] - Other notable performers included: - Haiwang Biological (000078) at 2.55, up 2.41% [1] - HeFu China (603122) at 6.55, up 2.34% [1] - Ruikang Pharmaceutical (002589) at 2.93, up 2.09% [1] - Daclin (603233) at 18.67, up 1.52% with a transaction value of 293 million yuan [1] Capital Flow - The pharmaceutical commercial sector experienced a net outflow of 105 million yuan from institutional investors and 110 million yuan from speculative funds, while retail investors saw a net inflow of 215 million yuan [2] - The capital flow for individual stocks showed mixed results, with China Pharmaceutical (600056) seeing a net inflow of 28.32 million yuan from institutional investors [3] Individual Stock Capital Flow - Key stocks with significant capital flow include: - China Pharmaceutical (600056) with a net inflow of 28.32 million yuan from institutional investors [3] - Jiuzhoutong (600998) with a net inflow of 24.77 million yuan from institutional investors [3] - Shanghai Pharmaceutical (601607) with a net inflow of 11.37 million yuan from institutional investors [3]

| 证券代码：603368 | 证券简称：柳药集团 | 公告编号：2025-089 | | --- | --- | --- | | 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 2025 年半年度业绩说明会召开情况的公告 重要内容提示： 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。 广西柳药集团股份有限公司（以下简称"公司"）于2025年10月20日15:00-16:00 在上证路演中心（http://roadshow.sseinfo.com/）以网络互动方式召开2025年半年度 业绩说明会（以下简称"本次业绩说明会"），现将有关情况公告如下： 一、本次说明会召开情况 公司于2025年10月11日在上海证券交易所网站（http://www.sse.com.cn）披露 了《关于召开2025年半年度业绩说明会的公告》（公告编号：2025-086）。2025年10 月20日15:00-16:00，公司董事长兼总裁朱朝阳先生、副总裁兼财务总监曾祥兴先生、 董事会秘书徐扬先生、独立董事陶 ...

Market Overview - The medical consumables supply chain SPD sector increased by 0.41% compared to the previous trading day, with Jianfa Zhixin leading the gains [1] - The Shanghai Composite Index closed at 3863.89, up 0.63%, while the Shenzhen Component Index closed at 12813.21, up 0.98% [1] Stock Performance - Jianfa Zhixin (301584) closed at 29.30, up 4.46% with a trading volume of 186,400 shares and a transaction value of 534 million [1] - Dajia Weikang (301126) closed at 11.75, up 3.07% with a trading volume of 53,500 shares and a transaction value of 62.22 million [1] - Jianmo Information (605186) closed at 19.55, up 2.68% with a trading volume of 17,200 shares and a transaction value of 33.43 million [1] - Other notable performers include Hefei China (603122) up 1.91%, Langma Information (300288) up 1.48%, and Seli Medical (603716) up 1.48% [1] Capital Flow - The SPD sector experienced a net outflow of 43.97 million from institutional investors, while retail investors saw a net inflow of 16.33 million [2] - The sector's overall capital flow indicates a mixed sentiment, with institutional investors pulling back while retail investors are more active [2] Individual Stock Capital Flow - Seli Medical (603716) had a net inflow of 12.83 million from institutional investors, but a net outflow of 12.61 million from speculative funds [3] - Dajia Weikang (301126) saw a net inflow of 5.24 million from speculative funds, but a net outflow of 5.91 million from retail investors [3] - Huadong Pharmaceutical (000963) had a net inflow of 2.37 million from speculative funds, while retail investors experienced a net outflow of 4.64 million [3]