Core Viewpoint - The company, Borui Pharmaceutical, has signed a collaboration research agreement with China Resources Sanjiu for the development, registration, production, and commercialization of BGM0504 injection in mainland China [1] Group 1: Collaboration Agreement - Borui Pharmaceutical and its subsidiaries have granted China Resources Sanjiu exclusive collaboration development and commercialization licenses for BGM0504 injection [1] - The agreement allows for a sublicensable exclusive collaboration development implementation license and a sublicensable exclusive commercialization implementation license [1] Group 2: Product Details - BGM0504 injection is a dual agonist of GLP-1 and GIP, classified as a first-class innovative chemical drug that has not yet been marketed domestically or internationally [1] - The injection aims to control blood sugar, promote weight loss, and treat non-alcoholic steatohepatitis (NASH), showcasing potential for various metabolic disease treatments [1] Group 3: Development Status - BGM0504 injection is currently in the research phase and requires completion of Phase III clinical trials before it can be reviewed and approved by the National Medical Products Administration for production and market launch [1]

格隆汇8月1日丨博瑞医药（维权）(688166.SH)公布，公司及全资子公司博瑞制药(苏州)有限公司(以下 简称"博瑞制药")、博瑞新创生物医药科技(无锡)有限公司(该三家许可方统称为"博瑞医药及关联公司") 与华润三九医药股份有限公司(以下简称"华润三九")签署了《合作研发协议》，就BGM0504注射液在中 国大陆地区(不包含香港、澳门及台湾地区)的研发、注册、生产及商业化达成合作，博瑞医药及关联公 司授予华润三九一项仅与博瑞医药及关联公司合作的可分许可的排他性合作开发实施许可及一项可分许 可的独占性商业化实施许可。 ...

Group 1 - The total salary of A-share listed company secretaries in 2024 reached 4.086 billion yuan, with an average annual salary of 754,300 yuan [1] - Among the A-share listed companies, 1,144 secretaries earned over 1 million yuan annually, accounting for over 21% [1] - The age distribution of secretaries shows that those aged 40-50 constitute 42%, while those over 50 account for 29%, and those under 40 make up 26% [1] Group 2 - The educational background of secretaries indicates that 5% have an associate degree, 42% hold a bachelor's degree, 49% possess a master's degree, and 4% have a doctoral degree, with over half holding a master's degree or higher [3] - Only three secretaries hold a doctoral degree, specifically from Yiling Pharmaceutical, Kunming Pharmaceutical Group, and Jinhua Co., Ltd. [3] Group 3 - The average annual salary of secretaries in A-share listed Chinese medicine companies is 742,400 yuan, with 39% earning below 500,000 yuan, 42% earning between 500,000 and 1 million yuan, and 15% earning between 1 million and 2 million yuan [5] - The top five highest-paid secretaries are from China Resources Sanjiu, Jichuan Pharmaceutical, Tianjin Pharmaceutical, Yiling Pharmaceutical, and Yibai Pharmaceutical, with salaries ranging from 1.3935 million to 2.5587 million yuan [7] Group 4 - There is significant variation in the number of investor receptions among listed companies, with 59% receiving fewer than 10 times a year, while 3% received between 300 and 1,000 times [9] - The five companies with the highest number of investor receptions are Zoli Pharmaceutical, Qizheng Pharmaceutical, Yunnan Baiyao, Jinghua Pharmaceutical, and Pianzihuang, with receptions ranging from 207 to 410 times [9]

Core Insights - The report highlights that the total salary for A-share listed company secretaries in 2024 reached 4.086 billion yuan, with an average annual salary of 754,300 yuan [1] - A total of 1,144 company secretaries earn over 1 million yuan annually, accounting for more than 21% of the total [1] Salary Distribution - The average annual salary for company secretaries in the A-share traditional Chinese medicine sector is 742,400 yuan [5] - The distribution of salaries is as follows: below 500,000 yuan (27 individuals, 39%), between 500,000-1,000,000 yuan (29 individuals, 42%), between 1,000,000-2,000,000 yuan (10 individuals, 15%), between 2,000,000-3,000,000 yuan (2 individuals, 3%), and above 3,000,000 yuan (1 individual, 1%) [5] Age and Educational Background - The age distribution of company secretaries shows that those aged 40-50 constitute 42%, while those over 50 account for 29%, and those under 40 make up 26% [1] - In terms of educational qualifications, 5% have an associate degree, 42% hold a bachelor's degree, 49% possess a master's degree, and 4% have a doctoral degree, with over half of the secretaries holding a master's degree or higher [3] Top Earners and Investor Relations - The top five highest-paid company secretaries are: - Xing Jian from China Resources Sanjiu (2.5587 million yuan) - Cao Wei from Jichuan Pharmaceutical (2.4107 million yuan) - Yu Jie from Tian Shi Li (2.525 million yuan) - Wu Rui from Yiling Pharmaceutical (1.89 million yuan) - Jiang Xianhong from Yibai Pharmaceutical (1.3935 million yuan) [7] - The frequency of investor meetings varies significantly among companies, with 41 companies hosting fewer than 10 meetings annually (59%), 17 companies holding 10-100 meetings (25%), 9 companies conducting 100-300 meetings (13%), and 2 companies having 300-1000 meetings (3%) [7] Most Active Companies in Investor Relations - The five companies with the highest number of investor meetings are: - Zoli Pharmaceutical (410 meetings) - Qizheng Tibetan Medicine (404 meetings) - Yunnan Baiyao (298 meetings) - Jinghua Pharmaceutical (221 meetings) - Pian Zai Huang (207 meetings) [9]

Group 1 - The total salary of A-share listed company secretaries in 2024 reached 4.086 billion yuan, with an average annual salary of 754,300 yuan [1] - Among the A-share listed companies, 1,144 secretaries earned over 1 million yuan annually, accounting for over 21% [1] - The age distribution of secretaries shows that those aged 40-50 constitute 42%, while those over 50 account for 29%, and those under 40 make up 26% [1] Group 2 - The educational background of secretaries indicates that 5% have an associate degree, 42% hold a bachelor's degree, 49% possess a master's degree, and 4% have a doctoral degree, with over half holding a master's or higher [3] - Only three secretaries hold a doctoral degree, specifically from Yiling Pharmaceutical, Kunming Pharmaceutical Group, and Jinhua Co., Ltd. [3] Group 3 - The average annual salary of secretaries in A-share listed Chinese medicine companies is 742,400 yuan, with 39% earning below 500,000 yuan, 42% earning between 500,000-1 million yuan, 15% between 1-2 million yuan, 3% between 2-3 million yuan, and 1% above 3 million yuan [5] - The top five highest-paid secretaries are from China Resources Sanjiu, Jichuan Pharmaceutical, Tianjin Tasly, Yiling Pharmaceutical, and Yibai Pharmaceutical, with salaries of 2.5587 million yuan, 2.4107 million yuan, 2.525 million yuan, 1.89 million yuan, and 1.3935 million yuan respectively [7] Group 4 - There is significant variation in the number of investor receptions among listed companies, with 59% receiving fewer than 10 times a year, 25% between 10-100 times, 13% between 100-300 times, and 3% between 300-1000 times [9] - The five companies with the highest number of investor receptions are Zoli Pharmaceutical, Qizheng Tibetan Medicine, Yunnan Baiyao, Jinghua Pharmaceutical, and Pianzihuang, with receptions of 410, 404, 298, 221, and 207 respectively [9]

Core Insights - The report highlights that the total salary for A-share listed company secretaries in 2024 reached 4.086 billion yuan, with an average annual salary of 754,300 yuan [1] - A total of 1,144 company secretaries earn over 1 million yuan annually, accounting for more than 21% of the total [1] Salary Distribution - The average annual salary for company secretaries in the A-share traditional Chinese medicine sector is 742,400 yuan [5] - The distribution of salaries is as follows: - Below 500,000 yuan: 27 individuals (39%) - 500,000-1,000,000 yuan: 29 individuals (42%) - 1,000,000-2,000,000 yuan: 10 individuals (15%) - 2,000,000-3,000,000 yuan: 2 individuals (3%) - Above 3,000,000 yuan: 1 individual (1%) [5] Age and Educational Background - The age distribution of company secretaries shows that those aged 40-50 constitute 42%, while those over 50 account for 29%, and those under 40 make up 26% [1] - The educational background indicates that 5% have an associate degree, 42% hold a bachelor's degree, 49% possess a master's degree, and 4% have a doctoral degree, with over half of the secretaries holding a master's degree or higher [3] Top Earning Company Secretaries - The top five highest-paid company secretaries are: - Xing Jian from China Resources Sanjiu: 2.5587 million yuan - Cao Wei from Jichuan Pharmaceutical: 2.4107 million yuan - Yu Jie from Tianjin Tasly: 2.525 million yuan - Wu Rui from Yiling Pharmaceutical: 1.89 million yuan - Jiang Xianhong from Yibai Pharmaceutical: 1.3935 million yuan - Their tenure at the companies ranges from less than 1 year to 15 years [7] Investor Engagement - There is significant variation in the number of investor meetings held by companies: - Less than 10 meetings: 41 companies (59%) - 10-100 meetings: 17 companies (25%) - 100-300 meetings: 9 companies (13%) - 300-1000 meetings: 2 companies (3%) [7] - The five companies with the highest number of investor meetings are: - Zoli Pharmaceutical: 410 meetings - Qizheng Pharmaceutical: 404 meetings - Yunnan Baiyao: 298 meetings - Jinghua Pharmaceutical: 221 meetings - Pianzihuang: 207 meetings [9]

专题：专题|2024年度A股董秘数据报告：1144位董秘年薪超百万 占比超21% 董秘作为连接投资者与上市公司的"桥梁"，在上市公司资本运作中发挥着关键作用。新浪财经《2024年 度A股董秘数据报告》显示，2024年A股上市公司董秘薪酬合计达40.86亿元，平均年薪75.43万元。 分行业来看，统计数据显示，A股共有69家上市中药公司，董事会秘书聘任总体情况如下（部分统计口 径剔除无效数据）。 从董秘的年龄分布来看，介于40-50岁的董秘是市场的中坚力量，占比达到42%；50岁以上的董秘占比 为29%；小于40岁的董秘群体占比为26%。其中，最年轻的上市公司董秘年仅32岁，为特一药业的许紫 兰。 从董秘的学历分布看，拥有大专、本科、硕士、博士学历的董秘占比分别为5%、42%、49%、4%，硕 士及以上学历董秘占比已超过半数。其中，获得博士学历的董秘仅三人，分别为以岭药业（维权）的吴 瑞、昆药集团的张梦珣、金花股份（维权）的张朝阳。 从薪酬分布看，A股中药上市公司董秘年薪平均值为74.24万元。经统计，处于50万以下、50万-100万、 100万-200万、200万-300万、300万以上各区间的人数分别为27 ...

Group 1 - The core viewpoint of the news is that the Shanghai Stock Exchange 300 Pharmaceutical Index has shown significant growth, with a 12.60% increase over the past month, 13.11% over the past three months, and 19.34% year-to-date [1] - The Shanghai Stock Exchange 300 Pharmaceutical Index is composed of listed companies in the pharmaceutical sector selected from the Shanghai and Shenzhen 300 Index, reflecting the overall performance of these companies [1] - The index was established on December 31, 2004, with a base point of 1000.0 [1] Group 2 - The top ten weighted companies in the Shanghai Stock Exchange 300 Pharmaceutical Index include: Heng Rui Medicine (44.25%), Pian Zai Huang (9.6%), Yunnan Baiyao (7.98%), Kelun Pharmaceutical (6.66%), East China Pharmaceutical (6.13%), Fosun Pharmaceutical (5.62%), New Harmony (5.46%), Baillie Tianheng (4.07%), Tong Ren Tang (3.93%), and China Resources Sanjiu (3.33%) [1] - The market share of the index's holdings is 70.43% from the Shanghai Stock Exchange and 29.57% from the Shenzhen Stock Exchange [1] - The composition of the index by industry shows that drug formulations account for 66.73%, traditional Chinese medicine for 27.81%, and raw materials for 5.46% [1] Group 3 - The index sample is adjusted every six months, with adjustments implemented on the next trading day following the second Friday of June and December each year [2] - Weight factors are adjusted in accordance with the sample adjustments, which occur at the same time [2] - In special circumstances, the index may undergo temporary adjustments, such as when a sample company is delisted or undergoes mergers, acquisitions, or splits [2]

港股医疗健康板块也逐渐开始回暖，更多企业涌向港交所申请IPO，其中不乏独角兽级别的企业——去 年12月，微医时隔三年重启IPO；今年5月，英矽智能三度递表；今年6月，镁信健康也赴港申请IPO。 过去十年间，中国医疗投资市场经历了巨大的起伏，从2015年行业融资额暴增，开启医疗投资的"元 年"，到2021年达到3800余亿元的融资峰值，而后行业又进入沉寂。 在这一波波投资热潮里，医疗健康行业里产生了数百家估值超十亿美元的医疗独角兽，分布在数字医 疗、AI制药、手术机器人、互联网医院、慢病管理平台等各个领域。大家都一度风华正茂，头顶着技 术创新、政策蓝海或美好的商业预期等各种光环，在不断加注的融资中走到独角兽的体量。幸运几乎是 这一批医疗独角兽的共同特征，巨大的外部机遇让它们以极低的时间成本将成就最大化。 但也正是在这一轮又一轮的资本热潮中，行业的"堰塞湖"悄然形成：高估值、大投入、慢转化。在漫漫 创业长路里，许多项目因为不确定的商业回报兑现、冗长的客户转化周期与故事的一再切换，让公司处 于持续亏损，通过上市来兑现"估值"变得遥遥无期，甚至要面临生存危机。医疗行业的一级市场漂悬着 众多的"梦"，太多创始人、高管团 ...

Core Viewpoint - China Resources Sanjiu has been awarded the "ESG New Benchmark Enterprise Award" and "ESG Investment Value List" for its outstanding practices in Environmental, Social, and Governance (ESG) fields, highlighting its commitment to integrating economic efficiency with social responsibility [1] Environmental Dimension (E) - The company is focused on green and low-carbon development, with over 40% of its subsidiaries certified by ISO 14001 [4] - Pollution emissions are strictly controlled, with greenhouse gas emissions significantly reduced by 19.65% in 2024 compared to the previous year [4] - The innovative "Pharmaceutical Light Complementarity" zero-carbon demonstration project integrates photovoltaic power generation with traditional medicinal herb cultivation, providing over 220 million kWh of green electricity and reducing carbon emissions by over 1.23 million tons [4] - The total installed capacity of photovoltaic systems has exceeded 20 MWp, and the use of renewable energy has been steadily increased to 6.33% [4] Social Responsibility Dimension (S) - The company adheres to the principle of "Quality Safeguards Life," establishing a comprehensive quality management system that ensures full traceability throughout the drug lifecycle [5] - In 2024, the drug inspection pass rate remained at 100%, with no major responsibility accidents reported [5] - Customer rights protection is meticulous, achieving a complaint resolution rate and satisfaction rate of 100%, with zero data security incidents [5] - The company has invested in education and health support, building eight primary schools in Ya'an and benefiting millions of patients through health assistance [5] - In 2024, the company purchased over one million yuan worth of agricultural products to support rural revitalization [5] Governance Dimension (G) - The company promotes compliance operations through high-quality party building, integrating political leadership with business operations [5] - A comprehensive risk management system based on the COSO framework has been established to systematically identify and control risks [5] - The board of directors has made progress in diversity, with female directors accounting for 18.18% [5] Future Outlook - Looking ahead to 2025, the company aims to strengthen quality management, enhance independent research and intelligent manufacturing, and deepen its green and low-carbon transformation [6] - The company is committed to expanding the breadth and depth of its ESG practices and supporting rural revitalization, contributing to the "Healthy China" strategy [6]