通化金马药业集团股份有限公司 2024 年度独立董事述职报告（张玲） 本人作为通化金马药业集团股份有限公司（以下简称"公司"或"通化金马"） 的独立董事，严格按照《公司法》《上市公司独立董事管理办法》《深圳证券交易 所上市公司自律监管指引第 1 号——主板上市公司规范运作》等相关法律、法规、 规范性文件以及《公司章程》《公司独立董事工作制度》《信息披露管理制度》等 公司制度的规定和要求，诚实、勤勉、独立地履行职责，积极出席相关会议，充 分发挥专业特长，忠实、勤勉地履行职责，努力维护公司整体利益和股东的合法 权益。 本人自 2024 年 6 月 17 日起担任公司独立董事、薪酬与考核委员会主任委员、 提名委员会委员职务，现就 2024 年度任职期间内履行独立董事职责情况汇报如 下： 一、独立董事的基本情况 本人张玲，1980 年出生，中国国籍，本科学历，中共党员，无境外永久居 留权。2012 年通过国家司法考试，2013 年 4 月至今就职于吉林陈启斌律师事务 所，其中：2013 年 4 月至 2014 年 8 月任该律所实习律师，2014 年 8 月至 2019 年 12 月任该律所律师，2020 年 1 月 ...

二、2024 年度履职概况 通化金马药业集团股份有限公司 2024 年度独立董事述职报告（吕桂霞） 本人作为通化金马药业集团股份有限公司（以下简称"公司"或"通化金马"） 的独立董事，严格按照《公司法》《上市公司独立董事管理办法》《深圳证券交易 所上市公司自律监管指引第 1 号——主板上市公司规范运作》等相关法律、法规、 规范性文件以及《公司章程》《公司独立董事工作制度》《信息披露管理制度》等 公司制度的规定和要求，诚实、勤勉、独立地履行职责，积极出席相关会议，充 分发挥专业特长，忠实、勤勉地履行职责，努力维护公司整体利益和股东的合法 权益。现就 2024 年度履行独立董事职责情况汇报如下： 一、独立董事的基本情况 本人吕桂霞，中国国籍，1968 年出生，大学本科学历、高级会计师、注册 会计师、资产评估师，无境外永久居留权。曾任黑龙江省粮食厅财务处会计、中 国工商银行长春市分行信贷员、吉林省资产评估事务所评估师、中商资产评估有 限公司评估师、中和正信会计事务所有限公司高级经理、中磊会计师事务所有限 公司高级经理、利安达会计师事务所（特殊普通合伙）高级经理。2022 年 1 月 至今任中威正信（北京）资产评估有 ...

通化金马药业集团股份有限公司 2024 年度独立董事述职报告（陈启斌） 本人作为通化金马药业集团股份有限公司（以下简称"公司"或"通化金马"） 的独立董事，严格按照《公司法》《上市公司独立董事管理办法》《深圳证券交易 所上市公司自律监管指引第 1 号——主板上市公司规范运作》等相关法律、法规、 规范性文件以及《公司章程》《公司独立董事工作制度》《信息披露管理制度》等 公司制度的规定和要求，诚实、勤勉、独立地履行职责，积极出席相关会议，充 分发挥专业特长，忠实、勤勉地履行职责，努力维护公司整体利益和股东的合法 权益。 因本人任期届满，本人自 2024 年 6 月 17 日起不再担任公司独立董事、薪酬 与考核委员会主任委员、提名委员会委员职务，现就本人 2024 年度任职期间履 行独立董事职责情况汇报如下： 一、独立董事的基本情况 本人陈启斌，中国国籍，1954 年出生，本科学历，党员，一级律师，无境 外永久居留权。1989 年 12 月至 2007 年 8 月在通化市司法局工作，历任律管科 科长、公正管理科科长、政治部副主任、办公室主任；2011 年 6 月至 2013 年 9 月任公司独立董事。2007 年 ...

吉林秉责律师事务所 关于通化金马药业集团股份有限公司 二 0 二五年第二次临时股东大会的法律意见书 致：通化金马药业集团股份有限公司 根据《中华人民共和国证券法》（以下简称"《证券法》"）、《中华人民共和国 公司法》（以下简称"《公司法》"）、《上市公司股东大会规则》（以下简称"《股东 大会规则》"）和《通化金马药业集团股份有限公司章程》（以下简称"《公司章程》"） 的有关规定，吉林秉责律师事务所（以下简称"本所"）接受了通化金马药业集 团股份有限公司（以下简称"公司"）的委托，担任公司 2025 年第二次临时股东 大会（以下简称"本次股东大会"）特聘专项法律顾问并出具法律意见书。 本法律意见书仅供公司为本次股东大会之目的而使用，不得用于其他任何目 的。本所同意公司将本法律意见书作为本次股东大会的公告材料，随其他需要公 告的信息一起向公众披露，并依法对本所在其中发表的法律意见承担责任。 为出具本法律意见书，本所指派郭淑芬、宋伟律师出席了公司于 2025 年 4 月 15 日下午 14 点 30 分在公司七楼会议室召开的本次股东大会，审查了公司提 供的召开本次股东大会有关的文件和资料，并进行了验证。在此基础上， ...

证券代码：000766 证券简称：通化金马 公告编号：2025-15 通化金马药业集团股份有限公司 2025年第二次临时股东大会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1.本次股东大会无否决提案的情形。 2.本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 1、召开时间： 现场会议召开时间为：2025年4月15日下午14:30 网络投票时间为：通过深圳证券交易所交易系统进行网络投票的具体时间为 2025年4月15日9:15—9:25，9:30—11:30和13:00—15:00；通过互联网投票系统 进行网络投票的具体时间为2025年4月15日上午9:15至下午15:00期间的任意时 间。 2、召开地点：吉林省通化市二道江区金马路999号，公司七楼会议室。 3、召开方式：采用现场表决与网络投票相结合的方式召开 4、召集人：公司董事会 5、现场会议主持人：董事长张玉富先生 6、会议召开的合法、合规性：本次会议的召集、召开与表决程序符合《公 司法》《上市公司股东大会规则》《深圳证券交易所股票上市规则》等有关法律、 ...

Group 1: Xiangyuan Cultural Tourism - Xiangyuan Cultural Tourism has successfully created a "cultural IP + tourism + technology" full industry chain layout through asset restructuring and strategic transformation, promoting deep integration and innovation in the cultural tourism industry [2][11] - The company faced challenges in its animation business from 2019 to 2020, resulting in a 45.02% revenue decline in 2020. However, it leveraged its rich animation IP resources to achieve a strategic transformation and enhance profitability, with 2023 revenue reaching 722 million yuan, a year-on-year increase of 55.81% [2][11] - The company has expanded its tourism assets across regions such as "Daxiangxi," "Dahuangshan," "Dachengyu," and "Danangling," forming a national chain of scenic spots and enhancing brand value through diversified offerings [3][11] Group 2: Lexin Technology - Lexin Technology is a small but robust IoT chip design manufacturer with a stable operating team and a concentrated shareholding structure, which enhances team motivation and operational stability [4][11] - The company has established a competitive advantage by developing low-power, high-performance chips based on the open-source RISC-V architecture, which better meets the needs of AI devices at the edge [4][12] - Lexin's ecosystem includes a rich developer community of over 3 million global developers, supporting mainstream IoT applications and creating a platform effect that drives growth [12] Group 3: Tonghua Jinma - Tonghua Jinma has shifted from relying on mergers and acquisitions to innovation-driven high-quality development, focusing on R&D breakthroughs and asset optimization [17][19] - The company is advancing a new drug for Alzheimer's treatment, with a projected peak sales potential of around 7 billion yuan, addressing a significant market need for new therapies [17][19] - The company has a target market capitalization of 22.2 billion yuan, indicating a potential upside of 26% from its current market value, with a "buy" rating assigned [19] Group 4: China Duty Free Group - China Duty Free Group reported a 16.38% decline in revenue for 2024, with net profit down 36.4%, reflecting challenges in the duty-free market [21] - The company is expanding its city duty-free store projects in response to policy changes, aiming to enhance its market presence [21][24] - Despite the challenges, the company is focusing on digital transformation and member engagement to improve customer experience and retention [24]

Investment Rating - The report gives a "Buy" rating for Tonghua Jinma, marking its first coverage [6][9]. Core Views - The company has shifted from relying on mergers and acquisitions to a strategy focused on innovation and high-quality development, achieving positive changes across multiple operational levels [6][20]. - There is a significant need for new Alzheimer's disease (AD) drugs in China, where the prevalence and mortality rates are higher than the global average, indicating a market opportunity for innovative treatments [8][35]. - The new drug, Suhe Batyuan Amino Acid Tablets, is expected to reach peak sales of approximately 7 billion yuan, with a strong clinical efficacy profile [8][12]. Summary by Sections Strategic Adjustments and Innovations - Tonghua Jinma has undergone strategic adjustments since 2019, focusing on innovation-driven growth through R&D breakthroughs, asset optimization, and marketing reforms [6][20]. - The company has established a complete industrial chain for musk, investing at least 100 million yuan to build a breeding base [6][32]. Alzheimer's Disease Drug Market - The report highlights the urgent need for new AD drugs in China, with the number of patients expected to rise to 15.5 million by 2025 [35][36]. - Current treatments primarily consist of cholinesterase inhibitors, with existing drugs failing to meet clinical needs effectively [8][35]. Financial Data and Profit Forecast - The projected total revenue for Tonghua Jinma is expected to grow from 1.473 billion yuan in 2023 to 1.89 billion yuan by 2026, with a compound annual growth rate of approximately 14.6% [7][9]. - The net profit attributable to shareholders is forecasted to increase from 44 million yuan in 2023 to 90 million yuan by 2026, reflecting a strong growth trajectory [7][9]. Valuation and Market Potential - Using the FCFF absolute valuation method, the target market value for Tonghua Jinma is estimated at 22.2 billion yuan, indicating a potential upside of 26% from the current market capitalization [9][12]. - The report emphasizes the potential for Suhe Batyuan Amino Acid Tablets to significantly contribute to revenue starting in 2025, with expectations for gradual market penetration [10][11].

Summary of Key Points Core Viewpoint - Tonghua Jinma Pharmaceutical Group Co., Ltd. plans to secure a guarantee from its wholly-owned subsidiary Chengdu Yongkang Pharmaceutical Co., Ltd. for a credit loan application of up to RMB 55 million from Guangfa Bank, with a one-year term [3][16]. Group 1: Guarantee Overview - The company intends to apply for a credit loan not exceeding RMB 55 million for operational needs, with the subsidiary providing a guarantee for the principal and associated interest and fees [3][16]. - The board of directors approved the guarantee proposal with unanimous support, and it will be submitted for shareholder meeting approval [4][20]. Group 2: Company Information - Tonghua Jinma Pharmaceutical Group is registered in Tonghua City, Jilin Province, with a registered capital of RMB 966.494707 million and was established on February 26, 1993 [5]. - The company engages in the manufacturing of various pharmaceutical forms and the research and development of traditional Chinese medicine [5]. Group 3: Financial and Risk Assessment - After this guarantee, the total external guarantee amount will be RMB 1.705 billion, representing 73.57% of the company's audited net assets for 2023, all of which are guarantees for subsidiaries within the consolidated financial statements [8]. - The company has no overdue guarantees or litigation related to guarantees as of the announcement date [8]. Group 4: Board Meeting and Shareholder Meeting - The board meeting was held on March 27, 2025, with all eight directors present, and the meeting complied with relevant laws and regulations [11][12]. - A second extraordinary general meeting of shareholders is scheduled for April 15, 2025, to review the board's proposals [24][21].

Group 1 - The company plans to apply for a credit loan of up to 55 million yuan from Guangfa Bank Changchun Branch for a one-year term, which can be used in a revolving manner within the limit [1][2] - The board of directors has authorized the management to handle the loan application and related matters, including signing relevant contracts and documents [1][2] - The loan application is based on the company's actual operational needs and aims to optimize the financing structure, aligning with the company's development interests [2] Group 2 - The company has good operational status and debt repayment capability, and the loan application will not pose significant financial risks [2] - The board meeting approved the loan application with 8 votes in favor, 0 against, and 0 abstentions [2][3] - The company plans to hold the second extraordinary general meeting of shareholders on April 15, 2025, to discuss the guarantee provided by a wholly-owned subsidiary for the parent company [2]