Core Viewpoint - The company has repurchased a total of 8.1079 million shares, representing 2.04% of its total share capital, with an increase of 0.76% compared to the previous announcement [1] Summary by Relevant Sections - **Share Repurchase Details** - The highest price for the repurchased shares was 18.6 yuan per share, while the lowest price was 17.83 yuan per share [1] - The total amount paid for the repurchase was 148 million yuan, excluding transaction fees [1] - **Future Plans** - The expected amount for the repurchase is between 100 million yuan and 200 million yuan, intended for employee stock ownership plans or equity incentives [1]

Meeting Overview - The company is holding its second extraordinary general meeting of shareholders in 2025 on September 15 [2] - The meeting aims to ensure the normal order and efficiency of discussions while protecting the legal rights of all shareholders [3] Agenda Items - The meeting will discuss ten proposals, including five ordinary and five special resolutions [5] - Key proposals include the stock option incentive plan for 2025, employee stock ownership plan, and amendments to the company's articles of association [6][9] Stock Option Incentive Plan - The company has proposed a stock option incentive plan for 2025 to attract and retain talent, aligning the interests of shareholders, the company, and employees [10][11] - The plan includes a management assessment method to ensure its effective implementation [12] Employee Stock Ownership Plan - The company is also proposing an employee stock ownership plan for 2025 to enhance employee engagement and company competitiveness [17][18] - The plan aims to create a mechanism for shared risks and benefits among employees and shareholders [17] Governance Changes - The company plans to cancel its supervisory board, transferring its responsibilities to the audit committee of the board of directors [8] - Amendments to the company's articles of association will be made to reflect changes in governance structure and improve operational efficiency [8][9] Risk Management - The company intends to purchase liability insurance for directors and senior management to mitigate governance and operational risks [10]

Core Viewpoint - The company aims to enhance its operational efficiency and market share through digital transformation, AI integration, and strategic investments while navigating challenges in the pharmaceutical wholesale sector due to regulatory pressures and market dynamics [1][2][3]. Group 1: Company Performance - In the first half of 2025, the company reported a revenue of 10.301 billion yuan, a year-on-year decrease of 3.21%, and a net profit attributable to shareholders of 430 million yuan, down 7.52% compared to the previous year [1]. - The decline in performance is attributed to stricter control over drug expenditure by medical institutions and the impact of centralized procurement policies, leading to reduced sales and profit margins in the pharmaceutical wholesale business [1][6]. - The company is optimistic about gradually recovering growth through product structure optimization and the development of retail, industrial, and innovative business segments [1]. Group 2: AI and Digital Transformation - The company has implemented AI technologies in various areas, including supply chain management, hospital diagnostics, and retail health services, to enhance operational efficiency and customer engagement [2][3]. - AI applications include intelligent warehousing systems, patient management tools, and a digital health service model that integrates healthcare professionals to provide comprehensive patient care [2][3]. Group 3: Product Development and Market Expansion - The company is actively expanding its product lines in traditional Chinese medicine, with significant progress in the registration of traditional Chinese medicine granules and the establishment of partnerships with hospitals across multiple provinces [4]. - The company aims to increase the proportion of sales from traditional Chinese medicine granules outside its home province to 50% within 1 to 2 years [4]. Group 4: Financial Management and Cash Flow - The company has seen a year-on-year increase of 78.07% in net cash flow from operating activities, indicating improved cash management despite challenges in accounts receivable [5]. - The company is focusing on enhancing the quality of sales and improving cash flow by tightening control over accounts receivable and prioritizing high-quality customer relationships [5]. Group 5: Strategic Initiatives - The company has launched stock option and employee stock ownership plans to align employee interests with corporate goals, particularly focusing on the industrial sector's growth potential [8]. - The performance metrics for these plans emphasize net profit growth and the balance between operating cash flow and net profit, aiming to enhance operational safety and employee motivation [8].

Core Viewpoint - Liu Pharmaceutical Group reported a decline in revenue and net profit for the first half of 2025, primarily due to stricter control of drug usage ratios in medical institutions and the impact of centralized procurement policies [2] Financial Performance - For the first half of 2025, Liu Pharmaceutical Group achieved revenue of 10.301 billion yuan, a year-on-year decrease of 3.21% - The net profit attributable to shareholders was 430 million yuan, down 7.52% compared to the previous year [2] Business Challenges - The decline in performance is attributed to the significant impact of medical insurance cost control and the tightening of drug usage ratios in Guangxi's medical institutions, leading to a temporary decrease in medication volume [2] - The expansion of centralized procurement has also affected the gross margins of related products, while sales of non-centralized procurement products have been impacted [2] Strategic Initiatives - The company is focusing on optimizing its product structure, reducing costs, and enhancing efficiency, alongside the development of retail, industrial, and innovative businesses to gradually mitigate the impact of industry policies and restore stable growth [2] - Liu Pharmaceutical Group has implemented measures to control accounts receivable and improve cash flow, with a 78.07% increase in net cash flow from operating activities compared to the previous year [2][3] AI and Technology Integration - The company is leveraging AI technology in various areas, including the development of an intelligent warehouse system to optimize logistics operations and enhance supply chain efficiency [3][4] - AI applications are being integrated into hospital settings for patient management and diagnosis, with ongoing collaborations with hospitals to implement intelligent modules [4] - In the retail sector, Liu Pharmaceutical Group has introduced an AI pharmacist assistant to provide comprehensive health management services for patients [4][5] Innovation and R&D - Liu Pharmaceutical Group has invested in the overseas innovative drug company Suninflam Ltd., focusing on the development of monoclonal antibody drugs targeting key factors in inflammatory responses [5][6] - The project has successfully completed the efficacy evaluation and is currently in the process of conducting Phase I clinical trials for epilepsy in the United States, with promising preliminary results [6]

Core Viewpoint - Liu Pharmaceutical Group reported a decline in revenue and net profit for the first half of 2025, primarily due to stricter control on drug usage in public hospitals and the impact of centralized procurement policies [1][2] Financial Performance - For the first half of 2025, Liu Pharmaceutical Group achieved revenue of 10.301 billion yuan, a year-on-year decrease of 3.21% - The net profit attributable to shareholders was 430 million yuan, down 7.52% compared to the previous year [1] Business Challenges - The decline in performance is attributed to the significant impact of medical insurance cost control and stricter drug usage ratios in Guangxi's medical institutions - The company has also reduced sales to certain hospitals with long payment cycles, leading to decreased wholesale business sales and profit margins [1][2] Cash Flow and Receivables Management - The scale of accounts receivable decreased year-on-year, with a net cash flow from operating activities increasing by 78.07% compared to the same period last year - The company is focusing on improving cash flow by enhancing accounts receivable management and reducing risks associated with long payment cycles [2] AI and Technology Integration - Liu Pharmaceutical Group is implementing AI technologies in various areas, including supply chain management and hospital services - The company has developed an intelligent warehouse system and is applying AI algorithms to optimize logistics and operational efficiency [2][3] Healthcare Services Innovation - The company is launching AI-assisted services in hospitals, including intelligent triage and patient management - A dual-service model is being developed to provide comprehensive health management for outpatients, utilizing an AI pharmacist assistant [3] Investment in Innovation - Liu Pharmaceutical Group has invested in the overseas innovative drug company Suninflam Ltd., focusing on developing monoclonal antibody drugs targeting inflammation and neurodegenerative diseases - The first product, SIF001, has entered clinical trials in the U.S. and has shown promising efficacy in initial studies [4][5]

Group 1 - The core point of the article is that Liu Pharmaceutical Group announced that it does not provide guarantees for its controlling shareholders, actual controllers, or their related parties [2] - The company confirmed that there are no overdue guarantees [2]

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]