Core Viewpoint - North China Pharmaceutical (000788) reported a mixed performance in its 2025 mid-year financial results, with a net profit increase of 15.51% despite a decline in total revenue by 5.04% compared to the previous year [1] Financial Performance Summary - Total revenue for the first half of 2025 was 957 million yuan, down from 1.008 billion yuan in 2024, representing a decrease of 5.04% [1] - Net profit attributable to shareholders reached 100 million yuan, an increase of 15.51% from 86.83 million yuan in the same period last year [1] - The second quarter saw total revenue of 455 million yuan, a decline of 11.52% year-on-year, while net profit for the quarter was 54.65 million yuan, up 27.76% [1] - Gross margin decreased to 25.83%, down 10.61% year-on-year, while net margin improved to 10.48%, an increase of 21.69% [1] - Total expenses (selling, administrative, and financial) amounted to 110 million yuan, accounting for 11.53% of revenue, a decrease of 29.93% year-on-year [1] - Earnings per share rose to 0.17 yuan, up 15.51% from 0.15 yuan [1] Cash Flow and Financial Ratios - Operating cash flow per share decreased to 0.04 yuan, down 55.19% year-on-year [1] - The company reported a significant increase in cash and cash equivalents, reaching 607 million yuan, a rise of 42.23% [1] - Accounts receivable decreased to 1.049 billion yuan, down 9.82% [1] - Interest-bearing debt reduced to 45.99 million yuan, a decrease of 15.27% [1] Operational Insights - Sales expenses decreased by 45.61% due to changes in product sales structure and cost control measures [3] - Financial expenses saw a dramatic reduction of 222.82%, attributed to decreasing leasing interest and lower loan rates [3] - The net cash flow from operating activities dropped by 55.19%, primarily due to reduced receivables in the pharmaceutical distribution business [3] - The company’s return on invested capital (ROIC) was reported at 8.9%, indicating average capital returns [4] - The historical median ROIC over the past decade was 3.23%, suggesting weak investment returns [4] Accounts Receivable Concerns - The accounts receivable to profit ratio reached 760.29%, indicating potential liquidity issues [5]

证券日报网讯 8月22日晚间，北大医药发布公告称，公司监事会于近日收到监事程琴女士的书面辞职报 告。程琴女士因个人原因申请辞去公司监事职务，且不再担任公司任何职务。 （文章来源：证券日报） ...

（文章来源：每日经济新闻） 北大医药8月22日晚间发布公告称，程琴女士因个人原因申请辞去公司监事职务，且不再担任公司任何 职务。 ...

北大医药股份有限公司（以下简称"公司"）监事会于近日收到监事程琴女 士的书面辞职报告。程琴女士因个人原因申请辞去公司监事职务，且不再担任公 司任何职务。 程琴女士原定任期为 2024 年 6 月 27 日至 2027 年 6 月 26 日。根据《公司法》 及《公司章程》等相关规定，程琴女士的辞职不会导致公司监事会成员低于法定 最低人数，不会对公司日常经营管理产生重大影响，公司职工代表监事的比例亦 不低于三分之一，其辞职报告自送达公司监事会之日起生效。 截至本公告披露日，程琴女士未直接或间接持有公司股票，不存在应当履行 而未履行的承诺事项。 程琴女士任职期间在公司规范运作、防范风险、内控建设等方面发挥了积极 作用，公司对此表示衷心感谢！ 证券代码：000788 证券简称：北大医药 公告编号：2025-061 北大医药股份有限公司 关于公司监事离任的公告 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。 一、监事离任情况 北大医药股份有限公司 监 事 会 二〇二五年八月二十三日 二、备查文件 1、《监事辞职报告》 特此公告。 ...

2025年8月22日，北大医药(000788.SZ)发布2025年中报。 公司营业总收入为9.57亿元。归母净利润为1.00亿元，较去年同报告期归母净利润增加1346.85万元，实现3年连续上涨，同比较去年同期上涨15.51%。经营 活动现金净流入为2310.77万元。 公司摊薄每股收益为0.17元，较去年同报告期摊薄每股收益增加0.02元，实现3年连续上涨，同比较去年同期上涨15.51%。 公司最新总资产周转率为0.42次。最新存货周转率为3.99次，较去年同期存货周转率增加0.46次，实现2年连续上涨，同比较去年同期上涨13.03%。 公司股东户数为5.53万户，前十大股东持股数量为2.17亿股，占总股本比例为36.42%，前十大股东持股情况如下： 公司最新资产负债率为31.21%，较上季度资产负债率减少1.57个百分点，较去年同期资产负债率减少6.87个百分点。 | 序号 | 股东名称 | 持股 | | --- | --- | --- | | l | 西南合成医药集团有限公司 | 22.2. | | 2 | 北大医疗管理有限责任公司 | 11.81 | | 3 | 北京政泉控股有限公司 | 0.54 | ...

公司摊薄每股收益为0.17元。 2025年8月22日，北大医药(000788.SZ)发布2025年中报。 公司营业总收入为9.57亿元，较去年同报告期营业总收入减少5081.88万元，同比较去年同期下降5.04%。归母净利润为1.00亿元。经营活动现金净流入为 2310.77万元，较去年同报告期经营活动现金净流入减少2846.17万元，同比较去年同期下降55.19%。 公司最新资产负债率为31.21%。 公司最新毛利率为25.83%，较去年同期毛利率减少3.07个百分点。最新ROE为6.28%。 公司较去年同期总资产周转率持平，同比较去年同期下降0.14%。最新存货周转率为3.99次。 公司股东户数为5.53万户，前十大股东持股数量为2.17亿股，占总股本比例为36.42%，前十大股东持股情况如下： | 序号 | 股东名称 | 持股 | | --- | --- | --- | | l | 西南合成医药集团有限公司 | 22.2. | | 2 | 北大医疗管理有限责任公司 | 11.81 | | 3 | 北京政泉控股有限公司 | 0.54 | | 4 | 袁绣峰 | 0.33 | | 5 | 刘尚红 | 0.2 ...

Group 1 - The company has revised its Articles of Association, merging similar clauses, deleting redundant ones, and adjusting wording for accuracy, while other provisions remain unchanged [1] - The company has also revised its attachments, renaming the "Rules of Procedure for Shareholders' Meetings" and making corresponding adjustments [1] - The revised Articles of Association and related documents are available on the company's official disclosure platform [1] Group 2 - The board of directors has proposed to the shareholders' meeting to authorize the management to handle the necessary business registration changes related to the revised Articles of Association [2] - The proposal is subject to approval by the shareholders' meeting [3] Group 3 - The company held its 13th meeting of the 11th board of directors on August 20, 2025, with all 8 directors present, complying with relevant regulations [5] - The meeting reviewed and approved the 2025 semi-annual report and profit distribution plan, with unanimous support from the directors [7][9] Group 4 - The profit distribution plan for the first half of 2025 proposes a cash dividend of 0.30 yuan per 10 shares, totaling approximately 17.88 million yuan, based on a total share capital of 595,987,425 shares [7][39] - The plan will be adjusted if the total share capital changes before implementation [7] Group 5 - The board approved a proposal to cooperate with a subsidiary in reducing its registered capital from 300 million yuan to 100 million yuan due to operational difficulties, followed by a liquidation process [11][46] - This decision aims to optimize the company's investment layout and mitigate operational risks [11][52] Group 6 - The company has decided to abolish the supervisory board, transferring its powers to the audit committee of the board, and will revise the relevant rules accordingly [14][28] - The proposal to amend the Articles of Association and related documents is also subject to shareholder approval [14][30]

Core Viewpoint - The company has announced its half-year report, detailing its financial performance, profit distribution plan, and future development strategies, emphasizing significant expected profit growth for 2024 [1][6]. Group 1: Financial Performance - The company plans to distribute a cash dividend of 0.30 yuan per 10 shares to all shareholders, based on a total of 595,987,425 shares [3]. - The projected net profit for 2024 is estimated to be between 115 million yuan and 145 million yuan, representing a year-on-year growth of 159.26% to 226.90% [6]. Group 2: Corporate Governance - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period [5]. - Several board members, including the chairman and other directors, have submitted resignation letters for personal reasons, indicating potential shifts in corporate governance [11][14][21]. Group 3: Related Party Transactions - The company anticipates daily related party transactions with Chongqing Southwest Synthetic Pharmaceutical Co., Ltd. not exceeding 13.04 million yuan and with Ping An Group and other related parties not exceeding 115.77 million yuan for 2025 [7]. - The company has identified that some related party transactions in 2024 exceeded the expected amounts and will be confirmed accordingly [7]. Group 4: Investment and Financing - The company plans to apply for a total bank credit line of 900 million yuan for operational needs, with guarantees provided for its wholly-owned subsidiaries [8]. - A new wholly-owned subsidiary is to be established with a registered capital of up to 30 million yuan to enhance the company's industry influence and international development [10]. Group 5: Regulatory Approvals - The company has received approval from the National Medical Products Administration for its product, injectable cefazolin sodium, confirming its consistency in quality and efficacy [17]. - Another product, ondansetron hydrochloride tablets, has also passed the same evaluation, indicating the company's commitment to maintaining high standards in its pharmaceutical offerings [19]. Group 6: Structural Changes - The company is revising its articles of association to eliminate the supervisory board, transferring its powers to the audit committee, which reflects a shift in governance structure [22][23].

Meeting Overview - The 13th meeting of the 11th Board of Directors of the company was held on August 20, 2025, in a hybrid format [1] - All 8 directors attended the meeting, with some participating via communication methods [1] - The meeting complied with relevant regulations, including the Company Law of the People's Republic of China [1] Financial Summary - The Board reviewed the company's actual operating performance for the first half of 2025 and prepared the half-year report and summary [1] - The profit distribution plan for the first half of 2025 was approved, proposing a cash dividend of 0.30 yuan per 10 shares, totaling 17,879,622.75 yuan [2] Capital Reduction and Liquidation - The company received a request from its associate, Beijing Peking University Medical Oncology Hospital Management Co., Ltd., to reduce its registered capital from 300 million yuan to 100 million yuan due to severe operational difficulties [2] - The company plans to cooperate with the associate's capital reduction and subsequent liquidation process to optimize its investment layout and mitigate operational risks [2] Governance Structure Adjustment - The company proposed to adjust its governance structure by abolishing the supervisory board, transferring its powers to the audit committee of the board [3] - The relevant rules and regulations regarding the supervisory board will be abolished, and amendments to the company's articles of association will be made accordingly [3] Next Steps - The profit distribution plan and governance structure adjustments are subject to approval at the company's shareholders' meeting [4]

Meeting Overview - The 8th meeting of the 11th Supervisory Board of the company was held on August 22, 2025, with all 5 supervisors present, including participation via communication methods [1][4] - The meeting was chaired by the Supervisory Board Chairman, and it complied with relevant regulations [1] Financial Summary - The company summarized its operational performance for the first half of 2025 and prepared the corresponding half-year report and summary [1] - The profit distribution plan for the first half of 2025 was approved, proposing a cash dividend of 0.30 yuan per 10 shares, totaling 17,879,622.75 yuan (including tax) [2] Capital Reduction and Liquidation - The company received a request from its associate, Beijing Peking University Medical Oncology Hospital Management Co., Ltd., to reduce its registered capital from 300 million yuan to 100 million yuan due to severe operational difficulties [2] - The company plans to cooperate with the associate's capital reduction and subsequent liquidation process to optimize its investment layout and mitigate operational risks [2] Governance Structure Adjustment - The company proposed to adjust its governance structure by abolishing the Supervisory Board, transferring its powers to the Audit Committee of the Board of Directors, and revising relevant rules and regulations [3] - This proposal requires approval from the shareholders' meeting [3]