重要内容提示： ● 回购注销原因：老百姓大药房连锁股份有限公司（以下简称"公司"） 2022 年限制性股票激励计划激励对象中韦丹、付超龙等 22 人因个人原因已离职 或职务变更，已不符合公司《2022 年限制性股票激励计划（草案）》（简称"本 激励计划"或"激励计划"）中有关激励对象的规定，公司将取消上述激励对象 资格并回购注销其已获授但尚未解除限售的部分限制性股票合计 139,925 股。本 次限制性股票回购总金额 2,277,979 元，回购所需资金均来源于公司自有资金。 证券代码：603883 证券简称：老百姓 公告编号：2024-036 老百姓大药房连锁股份有限公司 股权激励限制性股票回购注销实施公告 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。 ● 本次注销股份的有关情况 | 回购股份数量 | 注销股份数量 | 注销日期 | | | --- | --- | --- | --- | | 139,925 | 139,925 | 2024 年 6 月 7 | 日 | 一、本次限制性股票回购注销的决策与信息披露 1、20 ...

Investment Rating - The investment rating for the company is "Outperform the Market" and is maintained [2] Core Views - The company reported a revenue of 22.44 billion yuan in 2023, an increase of 11.21% year-on-year, with a net profit attributable to the parent company of 929 million yuan, up 18.35% [6][8] - The company is experiencing continuous store expansion and improvement in profitability, with a gross margin of 35.2% in Q1 2024, an increase of 2.20 percentage points year-on-year [7][8] - The company is expected to benefit from the implementation of outpatient coordination policies, with 4,673 outpatient coordination stores as of Q1 2024 [7][8] Summary by Sections Financial Performance - In 2023, the company achieved a total revenue of 22.44 billion yuan, with a net profit of 929 million yuan [6][8] - Q4 2023 revenue was 6.40 billion yuan, showing a slight decrease of 0.05%, while net profit increased by 21.17% to 212 million yuan [6][8] - For Q1 2024, revenue was 5.54 billion yuan, up 1.81%, with a net profit of 321 million yuan, reflecting a growth of 10.27% [6][8] Business Segments - Retail business revenue reached 19.35 billion yuan in 2023, a year-on-year increase of 9.96%, while franchise and distribution business revenue grew by 19.62% to 2.93 billion yuan [7][8] - The revenue from traditional Chinese medicine increased by 18.19% to 1.66 billion yuan [7][8] Store Expansion - The total number of stores reached 14,109 by Q1 2024, with 9,470 direct-operated stores and 4,639 franchise stores [7][8] - The company plans to open 4,000, 5,000, and 6,000 new stores in 2024, 2025, and 2026, respectively [7][8] Profitability - The overall gross margin for 2023 was 32.55%, an increase of 0.67 percentage points year-on-year, while the net profit margin was 5.01%, up 0.17 percentage points [7][8] - The company is expected to see a net profit growth of 21.9%, 20.6%, and 19.8% for 2024, 2025, and 2026, respectively [7][8] Valuation - The company is valued at a price-to-earnings ratio (P/E) of 20-25 times for 2023, with a reasonable value range of 38.80 to 48.50 yuan per share [7][8]

证券代码：603883 证券简称：老百姓 公告编号：2024-035 老百姓大药房连锁股份有限公司 关于 2023 年度暨 2024 年第一季度业绩说明会召开情况的公告 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 和完整性承担法律责任。 老百姓大药房连锁股份有限公司（以下简称"公司"）于 2024 年 4 月 30 日 在上海证券交易所网站（http://www.sse.com.cn）及指定信息披露媒体披露了 《老百姓大药房连锁股份有限公司 2023 年度报告》与《老百姓大药房连锁股份 有限公司 2024 年一季度报告》。为使广大投资者更加全面、深入地了解公司情况， 公司于 2024 年 5 月 28 日召开"2023 年度暨 2024 年第一季度业绩说明会"，现 将会议召开情况公告如下： 一、业绩说明会召开基本情况 2024 年 5 月 21 日，公司在上海证券交易所网站（www.sse.com.cn）及指定 信息披露媒体披露了《关于召开 2023 年度暨 2024 年第一季度业绩说明会的公 告》。 2024 年 5 月 28 日 10:00 ...

证券代码：603883 证券简称：老百姓 公告编号：2024-034 老百姓大药房连锁股份有限公司 关于控股股东股票质押的公告 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 担法律责任。 重要内容提示： ●老百姓大药房连锁股份有限公司（以下简称"公司"）控股股东老百姓医药集 团有限公司（以下简称"医药集团"）持有公司股份数量为 152,741,673 股，占公司 总股本比例为 26.11%；累计质押股份数量为 105,280,000 股，占其所持股份比例为 68.93%，占公司总股本比例为 18.00%。 一、上市公司股份质押 公司于 2024 年 5 月 29 日获悉控股股东医药集团所持有公司的部分股份被质押， 质权人为招商银行股份有限公司长沙分行（以下简称"招商银行长沙分行"）具体情 况如下： | 股 | 是否 | | | | | | | 占其 | 占公 | 质押 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 东 | 为控 | 本次质押 ...

Summary of the Conference Call Company Overview - The conference call was hosted by the board secretary of Lao Bai Xing Pharmacy, Feng Shini, along with key executives including Chairman Xie Zilong, President Wang Lin, independent directors Gu Lianfeng and Xie Ziqi, and CFO Chen Lishan [1] Key Points and Arguments - The company provided an introduction to its basic situation, indicating a focus on operational performance and strategic direction [1] Other Important Content - The presence of multiple executives suggests a comprehensive discussion on various aspects of the company's performance and future outlook, although specific financial metrics and strategic initiatives were not detailed in the provided excerpt [1]

Summary of the Conference Call for Lao Bai Xing Pharmacy Company Overview - Lao Bai Xing Pharmacy has developed into a leading player in the pharmaceutical retail industry over the past 20 years, with over 14,000 stores across 18 provinces and 150 cities in China [2][4] - The company has more than 90 million members and over 50,000 employees [2] - In the previous year, the company achieved an annual revenue of 22.437 billion yuan and total assets of 21.372 billion yuan [2] - From 2015 to 2023, the compound annual growth rate (CAGR) for store numbers was 31.89%, for revenue was 22.0%, and for net profit attributable to shareholders was 18.4% [2] Financial Performance - The gross profit margin has maintained a steady growth of over 30%, with a significant increase to 35.2% in Q1 2024, up by 2.2 percentage points year-on-year [3] - The company plans to distribute dividends of 385 million yuan in 2023, with an upward trend in dividends and yield [3] - The return on equity (ROE) reached 13.91% in 2023, indicating stable financial performance [3] Industry Insights - The pharmaceutical retail industry is experiencing significant changes due to policies promoting prescription drug separation, which began in 2023 [4][5] - The trend of large-scale procurement is beneficial for leading pharmacies, allowing them to leverage their scale for better pricing [6] - The dual-channel model (DTP) allows pharmacies to enjoy the same medical insurance benefits as hospitals, facilitating prescription outflow [7] - The market share of pharmaceutical retail in China increased from 22% in 2017 to approximately 30% in 2023, indicating substantial growth potential compared to developed countries [8] Market Concentration - The concentration of the industry is increasing, with the market share of the top ten players rising from 13.56% in 2015 to 30.91% in 2022 [9] - The aging population and rising chronic disease rates are driving growth in the pharmaceutical retail market, with a projected CAGR of 5.9% from 2022 to 2030 [9] Competitive Advantages - Lao Bai Xing Pharmacy has a broad coverage, with a market presence in 72% of the total pharmaceutical retail market in China [13] - The company has a strong franchise model, with a CAGR of 50.19% in franchise store numbers since 2018 [15] - Digitalization is a key competitive advantage, enhancing operational efficiency and employee performance [24] - The company has implemented a "Torch Project" to optimize product structure and improve gross margins without changing retail prices [29][30] Future Strategies - The company aims to build a technology-driven health service platform, focusing on digital empowerment, capturing the prescription drug market, and expanding into rural areas [42][43] - Plans to increase store numbers by 4,000 in the current year, maintaining a growth rate of around 25% for new stores [22] - The company is also focusing on enhancing its own brand and improving customer value through better product quality and pricing strategies [46] Additional Insights - The company has established a comprehensive health management service across over 10,000 stores, providing health self-testing services [11] - The integration of online and offline sales channels has shown promising growth, with a 38% increase in online sales revenue in 2023 [28] - The company is actively involved in mergers and acquisitions, utilizing a unique "Spark Acquisition" model to integrate quality chain pharmacies [20][21] This summary encapsulates the key points discussed during the conference call, highlighting the company's performance, industry dynamics, competitive advantages, and future strategies.

Financial Performance - The company achieved strong financial performance with 2023 revenue reaching 22.437 billion yuan and total assets of 21.372 billion yuan. From 2015 to 2023, the compound annual growth rate (CAGR) of store numbers was 31.89%, revenue CAGR was 22.01%, and net profit attributable to shareholders CAGR was 18.4% [1][4] - The comprehensive gross margin remained above 30%, reaching 35.2% in Q1 2024, a year-on-year increase of 2.2 percentage points [1][4] Business Lines and Key Indicators - The implementation of outpatient coordination policies led to significant growth in sales and gross profit. For comparable stores over two years, gross profit growth accelerated by 16.5 percentage points, and sales increased by 15.1% year-on-year in 2023 [2][13] Market Data and Key Indicators - The retail pharmaceutical market in China has seen an increase in concentration, with market share rising from 22% in 2017 to 30% in 2023. However, there is still significant room for improvement compared to the US, Japan, and the UK [1][5] - The aging population and rising chronic disease rates are expected to drive the retail pharmaceutical market's growth, with a projected CAGR of 5.9% from 2022 to 2030 [1][5] Company Strategy and Industry Competition - The company's future development strategy includes digital empowerment, capturing the prescription drug blue ocean, embracing new retail, entering rural markets, expanding health social spaces for the elderly, and strengthening its own brand [3][15] - The company has five competitive advantages: extensive coverage, market share, digitalization, gross margin, and operational optimization [7] Management's Comments on Operating Environment and Future Outlook - Management highlighted the positive trends in the industry, including prescription outflow and policies promoting drug separation, which are expected to significantly impact the future of retail pharmaceuticals [4][5] - The company plans to expand its store network by 4,000 new stores, maintaining a growth rate of around 25% [9] Other Important Information - The company has a stable shareholding structure, with the actual controllers holding a combined 27.89% stake. Major shareholders include well-known investment firms and sovereign wealth funds [1][4] - The company has implemented a digital strategy that has improved net profit by 137 million yuan in 2023, with a return on investment (ROI) of 3.77 [2][10] Q&A Session Summary Question: How has the company's financial performance been in recent years? - The company has shown excellent financial performance, with 2023 revenue at 22.437 billion yuan and total assets at 21.372 billion yuan. The CAGR for store numbers, revenue, and net profit attributable to shareholders from 2015 to 2023 were 31.89%, 22.01%, and 18.4% respectively [4] Question: What is the company's shareholding structure and major shareholders? - The actual controllers are Xie Zilong and Chen Xiulan, holding a combined 27.89%. The top ten shareholders include well-known investment firms and sovereign wealth funds [4] Question: What are the key trends in the industry and future development? - Key trends include prescription outflow, large-scale procurement benefiting leading pharmacies, and policies that enhance the competitive landscape. The market share of the top ten pharmacies has increased significantly [5] Question: What competitive advantages does the company have in the market? - The company has five major advantages: extensive coverage, market share, digitalization, gross margin, and operational optimization [7]

Investment Rating - The investment rating for the company is "Buy" [6][14]. Core Views - The company's performance shows steady growth, highlighting operational resilience with a revenue of 22.437 billion yuan in 2023, a year-on-year increase of 11.21%, and a net profit of 0.929 billion yuan, up 18.35% [3]. - The company is actively enhancing its refined management capabilities, which is expected to improve profitability, with a gross margin of 32.55% in 2023, an increase of 0.67 percentage points year-on-year [3]. - The company is pushing for the qualification of outpatient coordination, aiming to benefit from policy dividends, with 4,673 outpatient coordination stores established by Q1 2024 [3]. Summary by Sections Financial Performance - In 2023, the company achieved a revenue of 22.437 billion yuan, with a net profit of 0.929 billion yuan, and a non-recurring net profit of 0.844 billion yuan, reflecting year-on-year growth rates of 11.21%, 18.35%, and 14.68% respectively [3]. - For Q1 2024, the revenue was 5.539 billion yuan, with a net profit of 0.321 billion yuan, and a non-recurring net profit of 0.311 billion yuan, showing year-on-year growth rates of 1.81%, 10.27%, and 10.35% respectively [3]. Business Segments - In 2023, the retail and franchise businesses generated revenues of 19.349 billion yuan and 2.931 billion yuan, with year-on-year growth of 9.96% and 19.62% respectively [3]. - In Q1 2024, the retail and franchise businesses reported revenues of 4.683 billion yuan and 0.819 billion yuan, with year-on-year growth of 2.18% and 0.24% respectively [3]. Profitability and Management - The gross margin for 2023 was 32.55%, benefiting from product mix adjustments and an increase in the proportion of unified procurement sales, which reached 68.40% [3]. - The company has implemented various cost-reduction measures and expects further profitability improvements with the Torch Project, achieving a gross margin of 35.20% and a net margin of 6.61% in Q1 2024 [3]. Future Outlook - The company has adjusted its profit forecasts for 2024 and 2025, expecting net profits of 1.118 billion yuan and 1.354 billion yuan, with corresponding EPS of 1.91 yuan and 2.32 yuan [4]. - The projected P/E ratios for 2024, 2025, and 2026 are 18, 15, and 12 respectively, indicating a favorable valuation outlook [4].

2023 年年度股东大会会议资料 老百姓大药房连锁股份有限公司 2023 年年度股东大会会议资料 股票代码：603883 二〇二四年五月 1 / 29 2023 年年度股东大会会议资料 目 录 一、会议须知 二、会议议程 三、会议议案 1、关于公司 2023 年年度报告及摘要的议案 2、关于公司 2023 年度董事会工作报告的议案 3、关于公司 2023 年度监事会工作报告的议案 4、关于公司 2023 年利润分配预案的议案 股东大会会议须知 5、关于公司续聘 2024 年会计师事务所的议案 6、关于公司及子公司 2024 年度申请银行综合授信额度及提供担 保的议案 7、关于公司 2023 年度董事、监事、高级管理人员报酬总额的议 案 8、关于公司预计 2024 年 1-6 月及 2024-2025 年度日常关联交易 的议案 9、关于公司部分董事津贴标准的议案 2 / 29 为维护全体股东的合法权益，确保股东大会的正常秩序和议事效率，保证大 会顺利进行，老百姓大药房连锁股份有限公司（以下简称"公司"）根据中国证 券监督管理委员会《上市公司股东大会规则（2022 年修订）》等文件的有关要求， 制定本须知。 20 ...

证券代码：603883 证券简称：老百姓 公告编号：2024-032 老百姓大药房连锁股份有限公司 关于召开 2023 年年度股东大会的通知 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： 一、 召开会议的基本情况 股东大会召开日期：2024年6月13日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 (四) 现场会议召开的日期、时间和地点 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2024 年 6 月 13 日至 2024 年 6 月 13 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过 互联网投票平台的投票时间为股东大会召开当日的 9:15-15:00。 (六) 融资融券、转融通、约定购回业务账户和沪股通投资者的投票程 ...