证券代码：603883 证券简称：老百姓 公告编号：2025-063 老百姓大药房连锁股份有限公司 2025年第三季度权益分派实施公告 重要内容提示： 每股分配比例 A 股每股现金红利0.14元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/11/11 | － | 2025/11/12 | 2025/11/12 | 差异化分红送转： 否 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经公司2025 年 6 月 30 日的2024年年度股东大会审议通过的《关于提请 股东大会授权董事会制定 2025 年中期分红方案的议案》授权公司董事会决定 2025 年中期（包 含半年度、前三季度）利润分配方案并实施，故本次利润分配方案无需提交股东大会审议。 二、 分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分 公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 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 ...

格隆汇11月5日丨老百姓(603883.SH)发布2025年半年度权益分派实施公告，本次利润分配以方案实施前 的公司总股本7.59亿股为基数，每股派发现金红利0.14元（含税），共计派发现金红利1.06亿元（含 税） 本次权益分派股权登记日为：2025年11月11日，除权除息日为：2025年11月12日。 ...

以前啊，一到节假日，商场里人山人海，超市货架都被抢空，大家抢着买买买。现在呢？商场冷冷清清，商品摆了一地没人问，老板愁得直挠头。为啥？因 为老百姓手头紧，钱不够花，消费自然就少了。 你可能想问：老百姓都快没钱了，为啥政府还要逼着大家消费？这不是"强人所难"吗？ 其实啊，政府不是要逼着大家花钱，而是想让大家"敢花钱"。为啥？因为消费是经济的发动机，消费不旺，经济就跑不动。 咱们先说说为啥老百姓"没钱"。现在工资涨得慢，生活成本却涨得快。房价高，车贷重，孩子上学、看病花钱多，一月工资发下来，还没捂热就花出去了。 统计局数据显示，全国有5.6亿人的银行账户是空的，九成家庭存款不足10万元。老百姓不是不想消费，是实在没多余的钱。 但政府为啥还要刺激消费呢？因为经济是个大链条，一环扣一环。消费少了，企业卖不出东西，利润就少了，就只能裁员降薪，老百姓收入更少，消费更 少，恶性循环就来了。 打个比方，你开个小店，生意不好，就只能关店。关店了，你就不发工资，员工就失业了。失业了，他们就没钱消费，你店的生意就更差了。所以，政府得 想办法让这个链条不中断。 政府为啥要降存款利率？不是想让老百姓把钱都取出来，而是想让大家"觉得钱不 ...

Market Overview - The pharmaceutical commercial sector declined by 0.5% on November 4, with Baiyang Pharmaceutical leading the drop [1] - The Shanghai Composite Index closed at 3960.19, down 0.41%, while the Shenzhen Component Index closed at 13175.22, down 1.71% [1] Stock Performance - Notable gainers included: - HeFu China (603122) with a closing price of 11.85, up 10.03% [1] - Renmin Tongtai (600829) at 9.71, up 8.01% [1] - Jianfa Zhixin (301584) at 35.42, up 5.20% [1] - Baiyang Pharmaceutical (301015) saw a significant decline, closing at 25.62, down 6.09% [2] - Other notable decliners included: - Yifeng Pharmacy (603939) at 23.76, down 3.22% [2] - Saili Medical (603716) at 24.78, down 3.17% [2] Capital Flow - The pharmaceutical commercial sector experienced a net inflow of 32.34 million yuan from institutional investors, while retail investors saw a net outflow of 41.10 million yuan [2] - The capital flow for key stocks showed: - Renmin Tongtai had a net inflow of 63.04 million yuan from institutional investors [3] - Yifeng Pharmacy experienced a net outflow of 32.44 million yuan from retail investors [3]

老百姓今年以来股价涨4.97%，近5个交易日涨3.01%，近20日涨3.70%，近60日跌9.52%。 资料显示，老百姓大药房连锁股份有限公司位于湖南省长沙市开福区青竹湖路808号，成立日期2005年 12月1日，上市日期2015年4月23日，公司主营业务涉及药品及健康相关商品的零售连锁业务。主营业务 收入构成为：中西成药80.95%，非药品12.11%，中药6.94%。 11月4日，老百姓盘中上涨2.03%，截至10:51，报17.10元/股，成交1.20亿元，换手率0.94%，总市值 129.77亿元。 资金流向方面，主力资金净流入1000.37万元，特大单买入758.65万元，占比6.33%，卖出268.76万元， 占比2.24%；大单买入2498.02万元，占比20.84%，卖出1987.55万元，占比16.58%。 机构持仓方面，截止2025年9月30日，老百姓十大流通股东中，香港中央结算有限公司位居第五大流通 股东，持股775.58万股，相比上期减少732.46万股。南方中证1000ETF（512100）位居第七大流通股 东，持股347.44万股，相比上期减少4.89万股。国泰医药健康股票A（00 ...

Core Viewpoint - The pharmaceutical commercial sector experienced a short-term surge, with notable stock performances from various companies, indicating a positive market sentiment in this industry [1] Group 1: Company Performance - Renmin Tongtai reached the daily limit increase in stock price [1] - He富中国 achieved a consecutive six-day stock price increase [1] - Other companies such as Shuyu Pingmin, Jianfa Zhixin, Luyan Yiyao, Laobaixing, and Huaren Health also saw stock price increases [1]

Core Insights - A total of 217 A-share listed companies have announced or implemented their third-quarter dividend plans as of November 3, with a total dividend amount of approximately 3.2 billion yuan from five listed companies in Hunan [1] Company Summaries - **吉比特 (Gigabit)**: The company has the highest cash dividend ratio, proposing a cash dividend of 60 yuan for every 10 shares. For the third quarter of 2025, it reported earnings per share of 16.85 yuan and a net profit of 121.41 million yuan, with a year-on-year growth rate of 84.66%. The company focuses on game development and operations, utilizing AI technology to enhance efficiency [1] - **五粮液 (Wuliangye)**: The company reported earnings per share of 5.54 yuan and a net profit of approximately 2.15 billion yuan, with a year-on-year decline of 13.72%. It aims to enhance brand value and market share, launching cocktails in Europe and sparkling wines in South Korea. The company plans to increase its dividend rate in line with stable growth [2] - **老百姓 (Laobaixing)**: The company achieved third-quarter revenue of 5.296 billion yuan, a slight increase of 0.07% year-on-year, and a net profit of 1.31 billion yuan, up 2.62%. It plans to distribute a cash dividend of 0.14 yuan per share, totaling 1.06 billion yuan [3] - **克明食品 (Keming Food)**: The company reported a net profit of approximately 123.71 million yuan for the first three quarters of 2025, while the parent company recorded a net loss of about 18.08 million yuan. It proposes a cash dividend of 1.5 yuan per 10 shares, totaling around 50 million yuan [3] - **盐津铺子 (Yanjinpuzi)**: The company reported a net profit of approximately 604.61 million yuan for the first three quarters, with a proposed cash dividend of 4 yuan per 10 shares, totaling about 109.11 million yuan [3] - **和顺石油 (Heshun Petroleum)**: The company achieved a net profit of approximately 21.81 million yuan for the first three quarters and plans to distribute a cash dividend of 0.1 yuan per share, totaling about 17.19 million yuan [4]

老百姓大药房连锁股份有限公司 2025 年三季报解读会纪要（2025 年 10 月） 一、会议情况 （一）会议时间：2025 年 10 月 29 日 15:30-16:30 （二）会议形式：电话会议 （三）参会人员： 1. 公司参会人员： 董事长、总裁：谢子龙 董事长特别助理：王忠新 2025 年第三季度，公司营业收入 52.96 亿元、同比增长 0.07%，归母净利润 1.31 亿元、同比增长 2.6%，经营业绩逐季改善，持续向好。 副总裁：万鑫 董事长助理：谭坚 财务负责人：陈立山 新零售中心总经理：王宁宁 董事会秘书：冯诗倪 2. 机构参会人员： 中信建投、中信证券、中金公司、东北证券、东吴证券、兴业证券、国金证券、国 盛证券、JP Morgan、西部证券、开源证券、广发证券、国泰海通、天风证券、Morgan Stanley、 HSBC、Daiwa、华创证券、浙商证券、华福证券、招商证券、中信里昂、高盛、瑞银证 券、野村证券、华泰证券、光大证券、国海证券、中银国际证券、中邮证券、华鑫证券、 信达证券、东海证券、建信养老金、嘉实基金、上银基金、红土创新基金、创金合信基 金、博远基金、天治基金、金信基金、上 ...

Economic Overview - The current economic environment in China is characterized by a significant restructuring phase, affecting various sectors and individuals alike [1][5][19] - Economic cycles such as the pig cycle, capacity cycle, technology cycle, and real estate cycle are all peaking simultaneously, leading to widespread financial strain among the populace [3][5] Industry Insights - The automotive industry exemplifies the current state of economic "involution," with severe overcapacity and a mismatch between production and consumer demand [7][9] - Over 400 automotive companies in China have a total design capacity exceeding 35 million vehicles, far surpassing domestic demand, resulting in many smaller firms exiting the market [7][9] - The manufacturing sector is experiencing a similar trend, with companies facing overcapacity, weak demand, and intense competition, leading to widespread layoffs across various roles [9][10] Global Expansion - In response to domestic challenges, many companies are looking to expand overseas, with significant investment growth in countries like Vietnam and Indonesia [11][13] - Successful examples include companies like CATL, which have localized their operations abroad to mitigate trade barriers and better serve local markets [13] Workforce Adaptation - The job market is evolving, with a notable increase in demand for new roles such as AI trainers and carbon neutrality managers, reflecting the need for skill upgrades among workers [15][17] - The competition among cities is intensifying, with emerging regions like the Chengdu-Chongqing economic circle attracting young talent due to their focus on industrial ecology and supportive policies [17] Policy Support - The Chinese government is implementing policies to support "specialized, refined, and innovative" enterprises, enhancing R&D tax deductions to stimulate innovation [17] - The shift in focus from resource allocation to efficiency and quality is emphasized as a critical factor for both companies and individuals to thrive in the changing economic landscape [17][19]

Summary of the Conference Call for Lao Bai Xing Pharmacy Company Overview - **Company**: Lao Bai Xing Pharmacy - **Industry**: Pharmaceutical Retail Key Financial Performance - **Q3 2025 Revenue**: 5.296 billion yuan, a slight increase of 0.07% year-on-year, reversing the negative trends of the first two quarters which were -1.9% and -1.1% respectively [3][4] - **Q3 2025 Net Profit**: 130 million yuan, up 2.6% year-on-year, significantly better than the first quarter's -22% and second quarter's -18.9% [3][4] - **YTD Revenue (First Three Quarters 2025)**: 16.07 billion yuan, down 1% year-on-year, with net profit at 529 million yuan, down 16.11% [4] Store Expansion and Structure - **Total Stores**: 15,492, with 9,741 direct-operated and 5,751 franchise stores [2][4] - **New Stores**: 756 new stores added, with a significant proportion being franchise stores, indicating a focus on franchise expansion [2][4] - **Franchise Transition**: 74.2% of old stores transitioned to franchise, a year-on-year increase of 38.9 percentage points [7] Digital Transformation and AI Integration - **AI Implementation**: "Xiao Wan Zi AI" upgraded to cover key business scenarios including medical insurance policies, enhancing internal efficiency and service capabilities [9][17] - **Online Sales Growth**: Online channel sales reached 2.23 billion yuan in the first nine months, a 28% increase year-on-year [9][19] Supply Chain and Product Management - **Self-Brand Sales**: Increased to 22.8% of total sales, up approximately 0.9 percentage points year-on-year [8][10] - **Inventory Turnover Days**: Reduced to 90 days, down 8 days year-on-year [8] Healthcare Insurance Business - **Insurance Store Proportion**: 92.78% of direct-operated stores are medical insurance stores, with over 4,600 stores holding insurance qualifications [6][12] - **Impact of Insurance Policies**: The stability of insurance policies and high regulatory pressure favor large compliant chain pharmacies [11] Industry Trends and Challenges - **Market Consolidation**: Increased concentration in the pharmacy industry, with a projected 20%-30% of stores expected to close in the next two to three years due to stricter compliance requirements [13][14] - **Response to Industry Challenges**: The company leverages its supply chain and product advantages to attract customers from smaller chains and independent pharmacies [14] Non-Pharmaceutical Diversification - **Product Diversification**: Introduced over 300 carefully selected non-pharmaceutical SKUs, focusing on health needs and enhancing customer experience [15] Future Strategies - **Online Business Strategy**: Focus on profitability and market share, with plans to enhance operational efficiency and quality through digitalization [19] - **Offline Retail Margin Improvement**: Plans to optimize product management and reduce costs to improve offline retail margins [20] - **Store Expansion Strategy**: Emphasis on franchise model for expansion, with cautious consideration for acquisitions due to market uncertainties [20] Conclusion - **Overall Performance**: Lao Bai Xing Pharmacy shows signs of recovery with improved quarterly performance, a strong focus on digital transformation, and strategic expansion through franchising, while navigating industry challenges and regulatory pressures.