Core Insights - The chain pharmacy industry in 2024 is experiencing a significant slowdown, transitioning from a rapid expansion phase to one of reduced growth and declining profitability [2][3] - Six major private chain pharmacies reported revenue growth of less than 10%, with the highest being 8.01%, a stark contrast to previous years where many exceeded 20% [2] - Only Yifeng Pharmacy managed to achieve net profit growth, while the other five companies faced varying degrees of decline [2][5] Revenue and Profitability - Yifeng Pharmacy reported a revenue of 24.062 billion yuan with a net profit growth of 8.26%, becoming the only company to grow in a challenging environment [5] - Dazhenlin achieved the highest revenue of 26.497 billion yuan but saw a net profit decline of over 20% [5] - Laobaixing maintained a sales figure of 22.357 billion yuan, but its profits nearly halved [5] - Regional players like Shuyupingmin reported a loss of nearly 200 million yuan, while Jianzhijia's profits plummeted by about 70% [5] Store Expansion and Closure - Despite the overall industry challenges, the number of stores for major chain pharmacies continued to grow, with Dazhenlin adding 2,479 stores, Yifeng adding 1,434, and Laobaixing adding 1,703 [7] - The total number of closed pharmacies reached 25,114 in the first three quarters of 2024, with a growing trend in closures [5][6] Industry Challenges - The industry faces significant pressures from tightened healthcare policies, increased online competition, and changing consumer spending habits [3][8] - The competitive landscape has intensified, leading to price wars and promotional battles that compress profit margins [8] - Regulatory changes, such as stricter healthcare cost controls and increased compliance requirements, have further strained profitability [8][10] Strategic Responses - Companies are focusing on digital transformation and optimizing business structures to enhance efficiency and customer service [12] - Diversification into health products, beauty items, and health management services is becoming a strategic priority [12] - The integration of online and offline sales and services is seen as essential for future success, although it requires significant investment [12]

证券代码：605266 证券简称：健之佳 公告编号：2025-030 健之佳医药连锁集团股份有限公司 关于完成工商变更登记并换发营业执照的公告 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。 根据健之佳医药连锁集团股份有限公司（以下简称"公司"）2024年第二次 临时股东会审议通过的《关于终止实施2024年限制性股票激励计划暨回购注销限 制性股票的议案》、《关于修订<公司章程>的议案》，公司终止实施2024年限制性 股票激励计划，回购并注销对261名激励对象已授予但尚未解除限售的2,117,880 股限制性股票，需变更注册资本、修订公司章程、办理工商变更登记。 本次回购、注销手续于2025年4月17日完成，注销后公司总股本由 156,660,808股减少至154,542,928股。具体内容详见于2025年4月19日在上海证 券交易所网站（www.sse.com.cn）披露的《关于限制性股票回购注销完成的公告》 （公告编号：2024-015）。 近日，公司完成了减少注册资本的工商变更登记及修订《公司章程》的工商 备案手续，并取得 ...

Group 1: Retail Industry Overview - In 2024, five retail companies including YaoYigou, JianZhiJia, WuFangZhai, GuangMing Dairy, and HaiZiWang disclosed a total of 18.3756 million yuan in data resources, covering various sectors such as pharmaceutical retail, food and beverage, and maternal and child products [1][3] - YaoYigou and JianZhiJia reported significant declines in net profit, with JianZhiJia's net profit at 12.8 million yuan, down 69.08% year-on-year, and YaoYigou's net profit at 1.63582 million yuan, down 72.52% year-on-year [3][4] - The companies are actively investing in data assetization, with YaoYigou listing 22 pharmaceutical data products and integrating data resources with financial institutions to build a pharmaceutical supply chain finance system [3][4] Group 2: Pharmaceutical Retail Sector - YaoYigou's data resources included business data, industry knowledge data, and research data, with a total data storage of 99,098.39 GB by the end of 2024 [3][4] - YaoYigou has established a credit system for small and micro customers, with a total credit of 20.7248 million yuan granted to 5,100 customers [4] Group 3: Food Retail Sector - GuangMing Dairy and WuFangZhai disclosed their data resources for the first time in 2024, with GuangMing Dairy reporting 233,200 yuan in development expenses [6][8] - WuFangZhai introduced a BI data unified decision-making platform and confirmed its data asset worth 1.0004 million yuan, which is now available on the Zhejiang Big Data Trading Service Platform [8] Group 4: Maternal and Child Products Sector - HaiZiWang reported a total of 9.9519 million yuan in data resources for 2024, with 8.6310 million yuan classified as intangible assets [9] - HaiZiWang has developed an intelligent DTC system and the KidsGPT smart advisor, marking significant advancements in digitalization within the maternal and child product sector [9]

Core Viewpoint - The retail pharmaceutical industry is undergoing significant adjustments due to deepening medical reform policies, increased competition, and the impact of e-commerce, leading to a decline in customer traffic and a challenging environment for store openings and closures [1][2]. Group 1: Industry Performance - The performance of listed chain pharmacies in 2024 shows a polarization, with Yifeng Pharmacy achieving revenue and net profit growth, while Lao Bai Xing experienced declines in both metrics [1][3]. - Shuyu Pingmin reported a substantial net profit decline of 241.90%, marking its first loss after years of profitability, while Yixin Tang's net profit fell to a ten-year low of 1.14 billion yuan, down 79.23% [1][3]. - The overall number of retail pharmacies is expected to decrease, with an estimated 39,000 closures in 2024, resulting in a closure rate of 5.7%, up from 3.8% in 2023 [4]. Group 2: Store Expansion and Strategy - Dacaren's expansion rate has slowed, with a net increase of 2,479 stores in 2024 compared to 4,029 in 2023, while other companies like Yifeng Pharmacy and Lao Bai Xing also reported slower store growth [1][4]. - Many companies are adjusting their store opening strategies, with Jianzhijia reducing its annual expansion plan to around 400 stores [4]. Group 3: Transformation and Innovation - Pharmaceutical retail enterprises are accelerating their transformation, with leading companies adopting the "pharmacy + clinic" model to create community health ecosystems [2][5]. - Companies are focusing on digital transformation and exploring synergies between e-commerce and physical stores to adapt to the changing market landscape [2][5]. Group 4: Financial Performance and Challenges - Shuyu Pingmin's revenue reached 9.57 billion yuan in 2024, a 4.13% increase, but its net profit turned negative due to various operational challenges [3]. - The decline in net profit for many companies is attributed to increased operational costs and the impact of new store openings, which, while contributing to revenue, also lead to higher expenses during their cultivation period [3][5]. Group 5: Market Trends and Consumer Behavior - The retail pharmacy industry is witnessing a shift towards diversified product offerings and a focus on patient-centered health services, moving away from reliance solely on pharmaceutical sales [5][6]. - The proportion of income from medical insurance settlements is decreasing for many companies, indicating a shift towards non-insurance revenue streams [8]. Group 6: O2O and Membership Growth - The O2O (Online to Offline) retail model is becoming a key growth driver, with significant increases in sales through this channel expected in 2024 [8][9]. - Membership numbers are growing across various companies, with Yifeng Pharmacy reporting a membership increase of 19.50% and a membership sales ratio of 82.03% [11].

Financial Performance - The company reported a net profit of RMB 317,645,097.68 for 2024, with a proposed cash dividend of RMB 11.00 per 10 shares, totaling RMB 162,973,874.80[6]. - The company's operating revenue for 2024 reached ¥9.28 billion, a 2.23% increase from ¥9.08 billion in 2023[21]. - Net profit attributable to shareholders decreased by 69.08% to ¥128.13 million in 2024 from ¥414.41 million in 2023[21]. - Basic earnings per share dropped to ¥0.83 in 2024, down 69.14% from ¥2.69 in 2023[22]. - The weighted average return on equity fell to 4.53% in 2024, a decrease of 10.69 percentage points from 15.22% in 2023[22]. - Operating cash flow net amount decreased by 50.32% to ¥508.98 million in 2024 from ¥1.02 billion in 2023[21]. - The total assets increased by 6.78% to ¥10.62 billion at the end of 2024 from ¥9.95 billion at the end of 2023[21]. - The company reported a significant increase in tax and additional fees by 48.97% to ¥53,388,258.15, driven by internal tax adjustments and compliance measures[84]. - The company's total revenue for the period reached approximately ¥9.28 billion, with a gross profit margin of 35.80%, reflecting a year-on-year increase of 2.23% in revenue and a decrease of 0.08% in gross profit margin[88]. - The company reported a total operating cost of 5.959 billion yuan, an increase of 2.35% compared to the previous year[94]. Risk Management - The company has not identified any significant risks that could materially affect its operations during the reporting period[10]. - The company has confirmed that there are no non-operational fund occupations by controlling shareholders or related parties[10]. - The company has not faced any violations in decision-making procedures regarding external guarantees[10]. - The company has outlined potential risks in its management discussion and analysis section, which investors should review[10]. - The company is aware of industry policy risks and is actively improving internal compliance management to adapt to regulatory changes[141]. Strategic Developments - The company plans to slow down store expansion and control costs to adapt to policy changes and industry competition[28]. - The company aims to shift from merely meeting customer needs to stimulating demand through professional pharmaceutical services and health management[38]. - The company plans to leverage its store network to deepen omnichannel services and capture market share in both existing and new growth areas[38]. - The company is adjusting its short-term strategies to improve existing store performance and operational efficiency, while slowing down new store expansions[45]. - The company is committed to high-quality innovation and aims to strengthen operational efficiency and product competitiveness through strategic partnerships with pharmaceutical manufacturers[139]. Market Trends - The overall growth of the pharmaceutical health industry is slowing, with healthcare spending experiencing its first unusually low growth in years[38]. - The total scale of the health service industry in China is projected to expand from 9 trillion yuan in 2022 to 16 trillion yuan by 2030, indicating significant growth potential[40]. - The health industry is projected to grow from CNY 3.8 trillion in 2015 to CNY 16 trillion by 2030, driven by aging population and chronic disease trends[127]. - The retail pharmacy sector is expected to enhance professional pharmaceutical service capabilities to meet regulatory requirements and improve customer health safety[131]. Operational Efficiency - The company is investing in refined operational management, efficient logistics systems, and continuous optimization of information systems to ensure performance improvement[47]. - The company has implemented a comprehensive information system based on SAP/ERP, enhancing procurement, warehousing, and sales management[59]. - The logistics system has achieved high service levels with efficient sorting, delivery accuracy, and low cost rates, supporting rapid store expansion[58]. - The company is enhancing its digital operations and exploring the application of AI models to improve supply chain efficiency and operational management[149]. Shareholder Engagement - The company held 3 annual general meetings and 2 temporary general meetings during the reporting period, ensuring equal treatment of all shareholders and protecting the rights of minority shareholders[158]. - The company has implemented measures to protect the interests of all shareholders, particularly minority shareholders, during decision-making processes[158]. - The total equity increased to 18,468,648, with a capital reserve conversion of 3,862,405[160]. - The company plans to implement a stock incentive plan for 2024, including a draft for the employee stock ownership plan[168]. Community Engagement - The company conducted 53 "Health Home Community Activities" and 2,297 health promotion events across 53 regions, enhancing brand trust and member development[56]. - The company has established a stable and high-quality membership system with over 26 million effective members, with member consumption accounting for nearly 70%[71]. - The company has established 49 training bases to enhance the management and professional skills of its workforce[78]. Future Outlook - Future guidance indicates a projected revenue growth of 20% for the upcoming fiscal year, driven by new product launches and market expansion strategies[161]. - The company is exploring potential acquisitions to enhance its product portfolio, with a budget of 500 million yuan allocated for this purpose[165]. - The company aims to improve operational efficiency, targeting a 5% reduction in costs by the end of the fiscal year[165].

Core Viewpoint - The company is facing challenges due to ongoing pharmaceutical reforms and a decline in healthcare spending, leading to stagnant revenue growth and pressure on profits. However, it is adapting by accelerating business transformation and focusing on non-pharmaceutical revenue streams to mitigate the impact of policy changes [4][11]. Financial Performance - In Q1 2025, the company's main business revenue grew by 0.9% year-on-year, with a comprehensive gross margin of 35%, an increase of 0.63% compared to the previous year [8]. - The company's cash dividend distribution and capital reserve conversion led to a decrease in equity attributable to shareholders and an increase in the number of shares [3]. Market Environment - The retail sales of social consumer goods in March increased by 4.6% year-on-year, while the growth of the pharmaceutical sector was only 2.1%. The CPI and PPI both saw declines of 0.1% and 2.3%, respectively [4]. - The healthcare expenditure per capita grew by 3.0% year-on-year, down from 3.6% in 2024, indicating a decrease in consumer spending on healthcare [4]. Business Strategy - The company is focusing on enhancing operational efficiency and profitability by slowing down store expansion and optimizing existing store structures. It aims to improve store performance and employee efficiency [12][13]. - The company is actively exploring new sales channels, including live streaming and cross-border e-commerce, which contributed to a 22.13% increase in online revenue in Q1 2025 [9]. Regulatory Environment - New policies from the National Medical Security Administration aim to strengthen the regulation of medical insurance fund usage, which is expected to enhance market order and support the development of well-established listed companies [10]. - The company is committed to compliance and is working with regulatory bodies to implement policies effectively, including the deployment of drug traceability codes [14]. Shareholder Information - As of March 31, 2025, the top ten shareholders included the company's repurchase accounts, holding a total of 6,384,860 shares, representing 4.08% of the total shares [5]. Operational Adjustments - The company opened 20 new stores and closed 16, resulting in a total of 5,490 stores by the end of Q1 2025, reflecting a year-on-year growth of 4.31% [6]. - The company is adjusting its product categories and supply chain capabilities to support its transformation and improve inventory turnover efficiency [16]. Innovation and Development - The company is focusing on high-quality innovative development, enhancing operational capabilities, product offerings, and professional services to improve management efficiency and cost control [17].

2024 年度董事会审计委员会履职情况报告 健之佳医药连锁集团股份有限公司（以下简称"公司"）董事会审计委员会 根据《上海证券交易所上市公司自律监管指引第 1 号—规范运作》、《上海证券 交易所股票上市规则》、《上市公司独立董事管理办法》及《公司章程》、《董 事会审计委员会工作细则》等相关规定，勤勉尽责地履行了工作职责，现将 2024 年度审计委员会履职情况报告如下： 一、董事会审计委员会基本情况 公司第六届董事会审计委员会由独立董事管云鸿先生、赵振基先生及非独立 董事朱伟文女士 3 名成员组成，三位委员均未在上市公司担任高级管理人员；主 任委员由会计专业人士管云鸿先生担任。报告期内，成员没有发生变化。 审计委员会成员在财务、企业管理、行业研究等方面，均拥有履职需要的专 业资质及能力，多年来积累了丰富的经验，可以胜任董事会审计委员的相关工作， 有足够的时间和精力履行委员会的工作职责。 二、董事会审计委员会 2024 年度会议召开情况 报告期内，公司董事会审计委员会共召开了八次会议，全体委员均亲自出席 会议，积极对相关议题发表专业意见，会议议案全部审议通过，具体情况如下： | 会议名称 | | | 会议时间 | ...

健之佳医药连锁集团股份有限公司 2024 年年度报告 公司代码：605266 公司简称：健之佳 健之佳医药连锁集团股份有限公司 2024 年年度报告 1 / 299 健之佳医药连锁集团股份有限公司 2024 年年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实性、准确性、 完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 公司拟以 2024 年母公司实现的净利润 317,645,097.68 元为基数，提取 10%的法定公积金 31,764,509.77 元；拟以终止实施 2024 年限制性股票激励计划并回购注销股票后的公司总股本 154,542,928 股，扣除股份回购证券账户专户已回购股份 6,384,860 股后的股份数：148,158,068 股为基数，每 10 股派发现金红利人民币 11.00 元（含税），合计拟派发现金红利 162,973,874.80 元（含税）。 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性描述，不构成 ...

关于使用闲置自有资金进行现金管理的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 委托理财种类：安全性高、低风险、流动性较好、投资回报率相对较高 的理财产品，且不以股票、期货、期权为投资品种，也不投资将股票、期货、期 权作为主要投资标的或主要底层资产的理财产品。 证券代码：605266 证券简称：健之佳 公告编号：2025-023 健之佳医药连锁集团股份有限公司 委托理财金额：公司和下属子公司拟使用总计不超过人民币 60,000 万元 的短期闲置自有资金购买安全性高、流动性好的短期理财产品。在上述额度内， 资金可循环滚动使用，且在任一时点购买理财产品总额不超过上述额度。 已履行的审议程序：公司于 2025 年 4 月 28 日召开第六届董事会第九次 会议审议通过《关于公司使用闲置自有资金进行现金管理的议案》的议案，无需 股东会审议。 一、购买理财产品计划概况 1、投资目的：提高资金的管理效益，在不影响公司正常经营并确保资金安 全的前提下，充分利用短期闲置资金购买安全性高、低风险、流动性强的理财产 品， ...

证券代码：605266 证券简称：健之佳 公告编号：2025-026 健之佳医药连锁集团股份有限公司 关于召开2024年年度股东会的通知 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 (一) 股东会类型和届次 2024年年度股东会 (四) 现场会议召开的日期、时间和地点 召开的日期时间：2025 年 5 月 21 日 13 点 30 分 召开地点：云南省昆明市盘龙区联盟街道旗营街 10 号健之佳总部 14 楼会议 室 (二) 股东会召集人：董事会 (三) 投票方式：本次股东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 股东会召开日期：2025年5月21日 本次股东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 (五) 网络投票的系统、起止日期和投票时间。 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2025 年 5 月 21 日 至2025 年 5 月 21 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 东会召开 ...