请将手机调至振动或无声 浙江九洲药业股份有限公司 2025 年第一次临时股东大会 会 议 资 料 中国·浙江·台州 二〇二五年十月三十一日 1 浙江九洲药业股份有限公司 2025 年第一次临时股东大会会议资料 目 录 | 2025 | 年第一次临时股东大会会议议程 3 | | --- | --- | | 2025 | 年第一次临时股东大会会议须知 5 | | | 股东大会会议议案 7 | | 议案一 | 关于取消监事会并修订《公司章程》的议案…………………………….7 | | 议案二 | 关于制定、修订公司部分管理制度的议案……………………………….8 | 会议召集人：公司董事会 —签到、宣布会议开始— 2 浙江九洲药业股份有限公司 2025 年第一次临时股东大会会议资料 浙江九洲药业股份有限公司 2025 年第一次临时股东大会会议议程 会议时间：2025 年 10 月 31 日下午 14:00 会议地点：浙江九洲药业股份有限公司会议室（浙江省台州市椒江区外沙路 99 号） 1、与会人员签到，领取会议资料；股东及股东代理人同时递交身份证明材 料（授权委托书、营业执照复印件、身份证复印件等）并领取《表决票》 — ...

Core Insights - On October 20, Jiuzhou Pharmaceutical experienced a slight decline of 0.05% with a trading volume of 444 million yuan, indicating a stable market presence [1] - As of September 30, Jiuzhou Pharmaceutical reported a revenue of 4.16 billion yuan for the first nine months of 2025, reflecting a year-on-year growth of 4.92%, and a net profit of 748 million yuan, which is an 18.51% increase compared to the previous year [2] - The company has distributed a total of 2.183 billion yuan in dividends since its A-share listing, with 1.245 billion yuan distributed over the last three years [3] Financing and Trading Activity - On October 20, Jiuzhou Pharmaceutical had a net financing purchase of 1.664 million yuan, with a total financing balance of 528 million yuan, representing 3.14% of its market capitalization [1] - The company’s financing balance is above the 90th percentile of the past year, indicating a high level of investor interest [1] - In terms of securities lending, Jiuzhou Pharmaceutical had a low short-selling balance of 2.3136 million yuan, which is below the 50th percentile of the past year, suggesting limited bearish sentiment [1] Shareholder and Institutional Holdings - As of September 30, the number of Jiuzhou Pharmaceutical shareholders increased to 59,200, a rise of 10.22%, while the average number of shares held per shareholder decreased by 9.27% to 15,035 shares [2] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the fourth largest with 20.368 million shares, an increase of 7.8125 million shares from the previous period [3] - The sixth largest shareholder, China Europe Medical Health Mixed A, holds 17.403 million shares, up by 3.9767 million shares, while the seventh largest, Huabao CSI Medical ETF, reduced its holdings by 2.5629 million shares to 15.2225 million shares [3]

2025 年 10 月 20 日 证券研究报告 行业周报 行业评级： | 报告期：2025.10.9-2025.10.19 | | | --- | --- | | 投资评级 | 看好 | | 评级变动 | 维持评级 | 分析师： huchenxi@gwgsc.com 执业证书编号：S0200518090001 联系电话：010-68085205 分析师 魏钰琪 weiyuqi@gwgsc.com 执业证书编号：S0200525060001 联系电话：010-68099389 公司地址：北京市丰台区凤凰嘴街 2 号院 1 号楼中国长城资产大厦 16 层 医药生物行业双周报 2025 年第 21 期总第 144 期 政策规范临床研究路径 重磅创新成果集中亮相 2025ESMO 大会 行业回顾 本报告期医药生物行业指数跌幅为 3.65%，在申万 31 个一级行业中 位居第 21，跑输沪深 300 指数（-2.73%）。从子行业来看，中药、 线下药店涨幅居前，涨幅分别为 1.90%、0.88%；医疗研发外包、医 疗设备跌幅居前，跌幅分别为 11.40%、5.54%。 行业走势： 估值方面，截至 2025 年 10 月 ...

Group 1: Institutional Research on Popular Companies - The top twenty companies with the highest number of institutional research visits in the past 30 days include Rongbai Technology, Jingzhida, Shouchuang Environmental Protection, World, and Jiufeng Energy [12] - In the last five days, the most researched companies were Dike Co., Jiuzhou Pharmaceutical, Aipeng Medical, Juzan Optoelectronics, and LiuGong [13] - Among the top twenty companies in the past 30 days, 11 had ten or more rating agencies, with Huafeng Measurement and Huichuan Technology expected to see significant growth in net profit for the first half of 2025 compared to 2024 [12] Group 2: Major Shareholder Increase in A-Share Companies - From October 13 to October 17, 2025, six A-share companies announced significant shareholder increases, with Luyin Investment and Beichen Industrial planning to increase their holdings by amounts exceeding 1% of the latest market value [17] - From January 1 to October 17, 2025, a total of 285 companies announced shareholder increases, with 81 having ten or more rating agencies, and 20 of these companies planning increases exceeding 1% of their latest market value [19] Group 3: A-Share Company Buyback Situation - From October 13 to October 17, 2025, 72 companies announced buyback progress, with 12 having ten or more rating agencies, and four companies expected to have buyback amounts exceeding 1% of their market value [24] - From January 1 to October 17, 2025, 1,768 companies announced buyback progress, with 383 having ten or more rating agencies, and 89 companies expected to have buyback amounts exceeding 1% of their market value [27]

Group 1 - In the past five trading days, a total of 144 companies were investigated by institutions, with a significant focus on companies like Mindray Medical, Dike Co., and Small Commodity City [1][2] - Among the companies investigated, 30 received attention from more than 20 institutions, with Mindray Medical being the most popular, attracting 184 institutions [1][2] - The types of institutions involved in the investigations included 128 securities companies, 101 fund companies, and 61 private equity firms [1] Group 2 - In terms of stock performance, 7 out of the investigated companies saw an increase in their stock prices, with the highest gainers being Jiao Cheng Ultrasound, Rongqi Technology, and Small Commodity City, with increases of 15.87%, 7.84%, and 5.85% respectively [2] - Conversely, 23 companies experienced declines, with the largest drops seen in Huicheng Co., Fuke Environmental Protection, and Meihu Co., with decreases of 17.61%, 13.07%, and 12.04% respectively [2] - Among the companies that have released their Q3 reports, Small Commodity City and Yabo Xuan reported the highest year-on-year net profit growth of 48.45% and 36.59% respectively [2] Group 3 - The table of investigated companies shows that Mindray Medical had one investigation with 184 institutions, while Dike Co. had 107 institutions participating, and Small Commodity City had 106 institutions [3][4] - The stock prices of these companies varied, with Mindray Medical closing at 225.50 yuan, Dike Co. at 61.90 yuan, and Small Commodity City at 19.18 yuan, reflecting respective changes of -6.82%, -11.00%, and +5.85% [3][4] - The most frequently investigated company was Xizi Clean Energy, which was investigated three times, while several others like Chaojie Co. and Juzan Optoelectronics were investigated twice [1][3]

Group 1 - The article highlights the stock price target increases for various companies as of October 16, with notable recommendations from different securities firms [1][2] - Haiguang Information received the highest target price increase of 50.38% with a target price of 350.40 yuan, while Xiaogongmiao City and Jiuzhou Pharmaceutical also received significant recommendations [1] - A total of 20 listed companies were recommended by securities firms on October 16, with Haiguang Information receiving 4 recommendations, Xiaogongmiao City 3, and Jiuzhou Pharmaceutical 2 [1] Group 2 - The article lists the number of securities firms recommending specific companies, with Haiguang Information leading with 4 firms, followed by Xiaogongmiao City with 3 and Jiuzhou Pharmaceutical with 2 [2] - Six companies received initial coverage on October 16, including Baiya Co. with a "Buy" rating from Jianghai Securities and Juhua Co. with an "Increase" rating from Tianfeng Securities [2][3] - The sectors represented among the newly covered companies include personal care products, chemical products, and IT services [3]

Group 1: Price Target Increases - Haiguang Information (688041) has a target price increase of 50.38% with a new target price of 350.40 CNY, rated as "Buy" by Guotai Junan Securities [1] - Xiaogongmiao (600415) has a target price increase of 40.56% with a new target price of 28.00 CNY, rated as "Buy" by Huatai Financial Holdings (Hong Kong) [1] - Jiuzhou Pharmaceutical (603456) has a target price increase of 31.75% with a new target price of 26.06 CNY, rated as "Buy" by Huatai Securities [1] - Jina Technology (300763) has a target price increase of 20.54% with a new target price of 96.14 CNY, rated as "Increase" by Nomura Orient International Securities [1] Group 2: Brokerage Recommendations - On October 16, 20 listed companies received brokerage recommendations, with Haiguang Information receiving 4 recommendations, Xiaogongmiao receiving 3, and Jiuzhou Pharmaceutical receiving 2 [1] - The companies with the highest number of brokerage ratings include Haiguang Information (688041) in the semiconductor industry, Xiaogongmiao (600415) in general retail, and Jiuzhou Pharmaceutical (603456) in medical services [2] Group 3: First Coverage Ratings - Six companies received first coverage ratings on October 16, including Baiya Co., Ltd. (003006) rated "Buy" by Jianghai Securities in personal care products [3] - Juhua Co., Ltd. (600160) received an "Increase" rating from Tianfeng Securities in chemical products [3] - Dengkang Dental (001328) received a "Recommendation" rating from Huachuang Securities in personal care products [3]

Core Viewpoint - Jiuzhou Pharmaceutical's stock has experienced fluctuations, with a year-to-date increase of 46.97% but a recent decline of 2.02% on October 17, 2023 [1] Financial Performance - For the period from January to September 2025, Jiuzhou Pharmaceutical achieved a revenue of 4.16 billion yuan, representing a year-on-year growth of 4.92%, and a net profit attributable to shareholders of 748 million yuan, which is an 18.51% increase compared to the previous year [2] - Cumulative cash dividends since the company's A-share listing amount to 2.183 billion yuan, with 1.245 billion yuan distributed over the last three years [3] Shareholder Information - As of September 30, 2025, the number of Jiuzhou Pharmaceutical's shareholders increased by 10.22% to 59,200, while the average circulating shares per person decreased by 9.27% to 15,035 shares [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 20.368 million shares, an increase of 7.8125 million shares from the previous period [3]

Core Viewpoint - On October 16, brokerages set target prices for listed companies, with notable increases for Haiguang Information, Xiaogoods City, and Jiuzhou Pharmaceutical, indicating strong market interest in these sectors [1] Group 1: Target Price Increases - Haiguang Information's target price increased by 50.38%, indicating significant bullish sentiment in the semiconductor industry [1] - Xiaogoods City's target price rose by 40.56%, reflecting positive outlook in the general retail sector [1] - Jiuzhou Pharmaceutical's target price saw a 31.75% increase, showcasing optimism in the medical services industry [1] Group 2: Brokerage Recommendations - A total of 20 listed companies received brokerage recommendations on October 16 [1] - Haiguang Information received recommendations from 4 brokerages, highlighting its strong market position [1] - Xiaogoods City was recommended by 3 brokerages, indicating growing confidence in its business model [1] - Jiuzhou Pharmaceutical garnered 2 recommendations, suggesting a favorable view among analysts [1]

Core Insights - The Social Security Fund has disclosed its stock holdings as of the end of Q3, appearing in the top ten shareholders of eight companies, with a total holding of 61.36 million shares valued at 2.27 billion yuan [1][2] - The fund has reduced its holdings in four stocks, initiated positions in three new stocks, and increased its stake in one stock [1] Group 1: Stock Holdings - The top three stocks held by the Social Security Fund by share quantity are Cangge Mining (18 million shares), Huaxin Cement (12.81 million shares), and Jiuzhou Pharmaceutical (12.6999 million shares) [1] - The highest holding percentage is in Jinling Mining, with 1.48% of its circulating shares, followed by Jiuzhou Pharmaceutical at 1.43% [1][2] - The total number of stocks held by the fund includes six from the main board and two from the ChiNext board, primarily concentrated in the pharmaceutical and machinery equipment sectors [2] Group 2: Performance Metrics - Among the stocks held by the Social Security Fund, six reported year-on-year net profit growth in Q3, with Yuxin Electronics showing the highest increase of 60.21% [2] - The average increase of the Social Security Fund's heavy stocks since October is 2.91%, outperforming the Shanghai Composite Index [3] - The stock performance data includes significant changes in holdings, with Cangge Mining showing a decrease of 0.66% and Huaxin Cement a decrease of 56.14% [3]