独立董事提名人声明与承诺 提名人益丰大药房连锁股份有限公司董事会，现提名黄纯安为益 丰大药房连锁股份有限公司第五届董事会独立董事候选人，并已充分 了解被提名人职业、学历、职称、详细的工作经历、全部兼职、有无 重大失信等不良记录等情况。被提名人已同意出任益丰大药房连锁股 份有限公司第五届董事会独立董事候选人（参见该独立董事候选人声 明）。提名人认为，被提名人具备独立董事任职资格，与益丰大药房 连锁股份有限公司之间不存在任何影响其独立性的关系，具体声明并 承诺如下： 一、被提名人具备上市公司运作的基本知识，熟悉相关法律、行 政法规、规章及其他规范性文件，具有 5 年以上法律、经济、会计、 财务、管理或者其他履行独立董事职责所必需的工作经验。 二、被提名人任职资格符合下列法律、行政法规和部门规章的要 求： （一）《中华人民共和国公司法》关于董事任职资格的规定； （二）中国证监会《上市公司独立董事管理办法》、上海证券交 易所自律监管规则以及公司章程有关独立董事任职资格和条件的相 关规定； （七）最近 12 个月内曾经具有前六项所列举情形的人员； （八）其他上海证券交易所认定不具备独立性的情形。 （三）其他法律法规、部 ...

独立董事候选人声明与承诺 本人王小岩，已充分了解并同意由提名人益丰大药房连锁股份有 限公司董事会提名为益丰大药房连锁股份有限公司第五届董事会独 立董事候选人。本人公开声明，本人具备独立董事任职资格，保证不 存在任何影响本人担任益丰大药房连锁股份有限公司独立董事独立 性的关系，具体声明并承诺如下： 一、本人具备上市公司运作的基本知识，熟悉相关法律、行政法 规、部门规章及其他规范性文件，具有 5 年以上会计、财务、管理或 者其他履行独立董事职责所必需的工作经验。 二、本人任职资格符合下列法律、行政法规和部门规章以及公司 规章的要求： （一）《中华人民共和国公司法》关于董事任职资格的规定； （二）中国证监会《上市公司独立董事管理办法》、上海证券交 易所自律监管规则以及公司章程有关独立董事任职资格和条件的相 关规定； （三）其他法律法规、部门规章、规范性文件和上海证券交易所 规定的情形。 三、本人具备独立性，不属于下列情形： （一）在上市公司或者其附属企业任职的人员及其配偶、父母、 子女、主要社会关系（主要社会关系是指兄弟姐妹、兄弟姐妹的配偶、 配偶的父母、配偶的兄弟姐妹、子女的配偶、子女配偶的父母等）； （二）直接 ...

益丰大药房连锁股份有限公司 第四届监事会第三十三次会议决议公告 本公司监事会及全体监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。 重要内容提示： 一、 监事会会议召开情况 益丰大药房连锁股份有限公司（以下简称"公司"）于 2024 年 6 月 5 日以电 子邮件方式发出第四届监事会第三十三次会议通知，会议于 2024 年 6 月 7 日以 通讯方式召开，应参加表决的监事 3 人，实际参加表决的监事 3 人，本次会议的 召集、召开和表决程序符合有关法律、法规和《公司章程》的规定，会议形成的 决议合法有效。 | 证券代码：603939 | 证券简称：益丰药房 公告编号：2024-052 | | --- | --- | | 债券代码：113682 | 债券简称：益丰转债 | 二、 监事会会议审议情况 本次会议由监事会主席陈斌先生召集并主持，采用记名投票方式，通过了如 下议案： 1、《关于豁免公司第四届监事会第三十三次会议通知期限的议案》 因本次会议审议事项紧急，豁免公司第四届监事会第三十三次会议通知期限， 并于 2024 年 6 月 7 日召开 ...

Investment Rating - The report assigns an "Accumulate" rating for the company, marking its first coverage [5][10][20]. Core Insights - The company has demonstrated steady revenue growth, achieving an operating income of 22.588 billion yuan in 2023, a year-on-year increase of 13.59%, and a net profit attributable to shareholders of 1.412 billion yuan, up 11.90% [2][10]. - The operational efficiency of the company is highlighted, with a gross profit margin of 38.21%, the highest among its peers in the A-share offline pharmacy sector, and a net profit margin of 6.25%, also leading the industry [3][10]. - The company is expanding its store network significantly, adding 3,196 new stores in 2023, with a total of 13,250 stores by the end of the year, reflecting a year-on-year increase of 29.04% [4][10]. Financial Performance - In Q1 2024, the company reported an operating income of 5.971 billion yuan, a 13.39% increase year-on-year, and a net profit of 407 million yuan, up 20.89% [2][10]. - The forecast for 2024-2026 anticipates revenues of 26.858 billion yuan, 32.990 billion yuan, and 41.186 billion yuan, with net profits of 1.533 billion yuan, 1.867 billion yuan, and 2.248 billion yuan respectively [10][20]. Business Expansion Strategy - The company follows a "regional focus and steady expansion" strategy, targeting core areas in Central South, East China, and North China while expanding nationwide through new openings, acquisitions, and franchises [4][16][19]. - The company has established a multi-tiered store network, including flagship stores, regional center stores, medium-sized community stores, and small community stores [4][16]. Online and Offline Integration - The company is actively engaging in the online and offline integration strategy, establishing various pharmacy types to capture hospital prescription outflows, including DTP specialty pharmacies and dual-channel medical insurance pharmacies [5][10].

Summary of Conference Call Company and Industry Overview - The conference call is regarding Yifeng Pharmacy, discussing the 2023 annual and Q1 2024 performance [1] Key Points and Arguments - The call is led by the company's Board Secretary, Fan Wei, and the Chief Financial Officer, Deng Jianqin, who will provide insights into the performance [1] Other Important Content - The presentation is structured into four parts, starting with an introduction to the industry and the company's basic situation [1]

Summary of Yifeng Pharmacy 2023 Annual and Q1 2024 Earnings Call Industry Overview - The pharmacy industry is a significant component of China's pharmaceutical retail sector, benefiting from three major growth opportunities: 1. **Aging Population and Chronic Disease Trends**: The population aged 65 and above is increasing both in absolute numbers and as a percentage of the total population, driving demand for healthcare services and products [2]. 2. **Advancements in Internet Technology**: Policies like centralized procurement are enhancing retail pharmacy sales opportunities, while online retail models are becoming more standardized, providing new growth drivers for physical pharmacies [3]. 3. **Government Policies and Capital Investment**: The total number of pharmacies in China reached 654,000 by the end of 2023, with larger retail pharmacies growing faster than the overall industry, indicating a positive trend in industry concentration [4]. Company Overview - Yifeng Pharmacy was established on June 20, 2008, with a registered capital of 1.011 billion RMB. As of the end of 2023, the company employed 39,652 people and had a stock code of 603939 [5]. Business Performance - **2023 Financial Results**: - Revenue: 22.588 billion RMB, up 13.5% year-on-year - Net Profit: 1.412 billion RMB, up 11.90% - Non-recurring Net Profit: 1.362 billion RMB, up 10.92% - Total Assets: 24.137 billion RMB, up 14.74% - Shareholder's Equity: 9.804 billion RMB, up 14.63% - Return on Equity: 15.44% - Earnings per Share: 1.4 RMB [7]. - **Store Expansion**: - The company opened 1,613 new stores, acquired 559 stores, and added 1,024 franchise stores, resulting in a total of 13,250 stores by the end of 2023 [8]. - **Product Strategy**: - Yifeng Pharmacy implemented a premium product strategy, collaborating with nearly 600 manufacturers and introducing over 2,200 new SKUs into its product catalog [9]. Digital Transformation and E-commerce - The company maintained growth in its B2C and O2O businesses, generating 1.818 billion RMB in revenue, a 3.85% increase year-on-year. The number of O2O stores exceeded 9,000, with over 600 stores offering 24-hour delivery [11]. Prescription Flow and Healthcare Services - Yifeng Pharmacy actively engaged in the prescription flow from hospitals, establishing 675 outpatient stores and 305 DTP specialty pharmacies, while also integrating electronic prescription platforms [12]. Financial Management - **Cash Flow**: Operating cash flow increased to 4.624 billion RMB, reflecting improved sales scale and financial management [18]. - **Gross Margin**: The gross margin decreased to 37%, attributed to changes in the revenue mix and lower margins in wholesale and retail segments [19]. Cost Management - **Sales and Management Expenses**: Sales expenses grew by 12.48%, while management expenses increased by 6.42%, both lower than revenue growth, indicating improved efficiency [21][22]. Core Competencies 1. **Regional Focus and Steady Expansion**: The company emphasizes regional focus and steady expansion, enhancing customer satisfaction and sales [27]. 2. **Efficient Operations and Cross-Province Management**: Yifeng has established a digital management platform to support efficient operations and rapid replication of its business model [28]. 3. **Brand and Training Systems**: The company has developed a premium product strategy and a comprehensive training system for employees [29]. 4. **Member Service System**: Yifeng has upgraded its member service system, achieving 87.1 million members with 77.4% of sales coming from members [30]. 5. **Store Layout and Location Strategy**: The company has developed a diverse store layout strategy to cater to different market needs [31]. 6. **Digital Management and Support Systems**: Yifeng has invested in digital technology to enhance operational efficiency and customer engagement [32]. 7. **Corporate Culture and Talent Development**: The company focuses on employee development and maintaining a strong corporate culture [33]. Conclusion - Yifeng Pharmacy's performance in 2023 reflects a solid growth trajectory, supported by strategic expansions, digital transformation, and a focus on customer service. The company is well-positioned to capitalize on industry trends and enhance its market presence moving forward [34].

Summary of Conference Call Company and Industry Overview - The conference call is regarding Yifeng Pharmacy, discussing the 2023 annual and Q1 2024 performance [1] Key Points and Arguments - The call is led by the company's Board Secretary, Fan Wei, and the Chief Financial Officer, Deng Jianqin, who will provide insights into the performance [1] Other Important Content - The presentation is structured into four parts, starting with an introduction to the industry and the company's basic situation [1]

Investment Rating - The report assigns an "OUTPERFORM" rating to the company with a target price of RMB 52.50 [1]. Core Insights - The company reported a revenue of RMB 22.59 billion for 2023, representing a year-on-year growth of 13.59%, and a net profit attributable to shareholders of RMB 1.41 billion, up 11.90% year-on-year [2][7]. - The company continues to expand its store count, surpassing 10,000 stores, with a total of 13,920 stores by Q1 2024. It plans to add 4,000 new stores in 2024 [2][8]. - The outpatient coordinated care policies are advancing, which is expected to benefit leading chain pharmacies like the company [2][8]. - The retail business generated revenue of RMB 20.19 billion, growing by 12.00% year-on-year, while the wholesale business saw a significant increase of 39.23% year-on-year, reaching RMB 1.89 billion [2][8]. - The company has shown improvement in its expense ratios, with a gross profit margin of 38.21% and a net profit margin of 7.00% [2][8]. Financial Summary - For 2023, the company achieved a revenue of RMB 22.59 billion, with a net profit of RMB 1.41 billion. The revenue for Q4 2023 was RMB 6.70 billion, with a net profit of RMB 0.41 billion [2][7]. - The company expects net profits for 2024-2026 to be RMB 1.77 billion, RMB 2.17 billion, and RMB 2.67 billion, with growth rates of 25.5%, 22.4%, and 22.8% respectively [2][8]. - The projected revenue for 2024 is RMB 27.62 billion, with a year-on-year growth of 22.3% [3][6].

| 证券代码：603939 | 证券简称：益丰药房 | 公告编号：2024-050 | | --- | --- | --- | | 债券代码：113682 | 债券简称：益丰转债 | | 益丰大药房连锁股份有限公司 关于使用闲置募集资金委托理财的进展公告 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个别及连带责任。 重要内容提示： 投资种类：安全性较高、流动性较好、风险较低的理财产品 投资金额：40,000.00 万元 已履行的审议程序：经公司第四届董事会第三十八次会议审议通过 特别风险提示：公司将对投资产品进行严格评估，尽管公司选择本金保障 类理财产品，但金融市场受宏观经济的影响较大，不排除该项投资受到市场波动 的影响，面临收益波动风险、流动性风险、信用风险、操作风险、信息技术系统 风险、政策法律风险、不可抗力及意外事件风险、信息传递等风险。 闲置募集资金 一、 本次委托理财的概况 1、委托理财目的 在确保不变相改变募集资金用途与不影响募集资金投资项目正常运行的情 况下，提高闲置募集资金的使用效率，增加公司收益，降低财务成本。 2、 ...

| 证券代码：603939 | 证券简称：益丰药房 | 公告编号：2024-049 | | --- | --- | --- | | 债券代码：113682 | 债券简称：益丰转债 | | 益丰大药房连锁股份有限公司 关于因权益分派调整可转债转股价格的公告 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。 重要内容提示： 益丰大药房连锁股份有限公司（以下简称"公司"）于 2024 年 3 月 4 日公开 发行 1,797.4320 万张可转换公司债券，每张面值 100 元，发行总额 179,743.20 万 元，并于 2024 年 3 月 27 日在上海证券交易所上市交易，债券简称"益丰转债"， 债券代码"113682"。"益丰转债"存续期限 6 年，存续时间为 2024 年 3 月 4 日起 至 2030 年 3 月 3 日，转股起止时间为 2024 年 9 月 8 日至 2030 年 3 月 3 日。 一、转股价格调整/修正依据 2024年5月20日，公司召开2023年年度股东大会，审议通过了《关于2023年 度利润分配 ...