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]

| 证券代码：603368 | 证券简称：柳药集团 | 公告编号：2025-088 | | --- | --- | --- | | 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 公司将持续关注本员工持股计划的实施进展情况，并按照相关法律法规的规 定及时履行信息披露义务。 特此公告。 广西柳药集团股份有限公司董事会 根据《关于上市公司实施员工持股计划试点的指导意见》《上海证券交易所 上市公司自律监管指引第 1 号——规范运作》等相关规定，现将本员工持股计划 的实施进展情况公告如下： 根据参与对象实际认购和最终缴款的审验结果，本员工持股计划首次受让部 分实际参与认购的员工共计 52 人，最终认购份额为 14,405,400 份，认购份额对 应的股份数量为 1,590,000 股，最终缴纳的认购资金总额为 14,405,400.00 元，股 份来源为公司回购专用证券账户回购的公司 A 股普通股股票。 2025 年 10 月 17 日，公司收到中国证券登记结算有限责任公司出具的《证 券过户登记确认书》，公司回购专用证券账户中所持有的 1,590,000 股公司股份已 于 2025 ...

Summary of Key Points Core Viewpoint - The company has provided guarantees totaling 23,146.43 million yuan to its subsidiaries to support their operational and business development needs, while also releasing guarantees amounting to 33,759.93 million yuan as of September 2025 [1][5]. Group 1: Guarantee Overview - The company and its subsidiaries have applied for a total of 23,146.43 million yuan in new guarantees as of September 2025 [1]. - The total amount of guarantees provided by the company and its subsidiaries is 247,002.10 million yuan, which accounts for 32.40% of the company's most recent audited net assets [5]. Group 2: Internal Decision-Making Process - The company held a board meeting on March 26, 2025, and an annual shareholders' meeting on April 18, 2025, to approve the guarantee limit for 2025, allowing for a total guarantee amount not exceeding 7 billion yuan [1][4]. Group 3: Necessity and Reasonableness of Guarantees - The guarantees are deemed necessary and reasonable to meet the funding needs for production and business development, aligning with the company's overall interests and development strategy [3][4]. - The company maintains absolute control over the operations and financial conditions of the guaranteed subsidiaries, ensuring that the risks associated with the guarantees are manageable [3][4]. Group 4: Board of Directors' Opinion - The board believes that providing guarantees to subsidiaries is a rational decision based on business development needs and financing requirements, which will facilitate the normal operation of the company's main business and enhance future economic benefits [4].

Core Points - The company and its subsidiaries provided a total guarantee of 231.46 million yuan to meet operational and business development needs, while releasing guarantees totaling 337.60 million yuan in September 2025 [2][4] - The board of directors approved a total guarantee limit of up to 7 billion yuan for the year 2025, allowing for inter-company guarantees within the approved limit [4][7] - As of the announcement date, the total external guarantees provided by the company and its subsidiaries amounted to 2.47 billion yuan, representing 32.40% of the latest audited net assets [8] Guarantee Details - The guarantees provided are classified as routine guarantees, with specific amounts detailed for each subsidiary [4][5] - The guarantees are primarily aimed at satisfying the funding needs for production and business development, aligning with the company's overall interests and strategic goals [6][7] - The company maintains absolute control over the operations and financial conditions of the guaranteed subsidiaries, ensuring manageable risk levels [6][7] Board's Opinion - The board believes that providing guarantees to subsidiaries is a reasonable prediction based on business development needs and financing requirements, which will benefit the company's main operations and enhance future economic benefits [7] - The financial stability and creditworthiness of the guaranteed entities are affirmed, with the company capable of effectively controlling financial risks [7] Guarantee Agreement - The guarantees are structured as joint liability guarantees with a term of three years from the debt performance deadline [10] - The total guarantee amount is 231.46 million yuan, reflecting the company's commitment to supporting its subsidiaries [10]

| 证券代码：603368 | 证券简称：柳药集团 公告编号：2025-087 | | --- | --- | | 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 关于公司及下属控股子公司提供担保的进展公告 担保对象及基本情况 | | 被担保人名称 | 万元 | | 广西柳药集团股份有限公司（简称"公司"） | | --- | --- | --- | --- | --- | | | 本次担保金额 | 11,621.83 | | | | 担保 对象一 | 实际为其提供的担保余额 | 27,152.66 | | 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 | | | 广西南宁柳药药业有限公司（简称"南宁柳药"） | | | 本次担保金额 | 6,524.61 | 万元 | | | 对象二 | 实际为其提供的担保余额 | 124,874.45 | | 万元（含本次） | | | 是否在前期预计额度内 | 是 | ...