股票代码：000999 股票简称：华润三九 编号：2024—088 华润三九医药股份有限公司 关于续聘公司 2024 年年度审计机构的公告 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。 重要内容提示： 拟续聘毕马威华振会计师事务所（特殊普通合伙）（以下简称"毕马威华振"）事项，符 合财政部、国务院国资委、证监会印发的《国有企业、上市公司选聘会计师事务所管理办法》 （财会〔2023〕4 号） 等相关规定。 华润三九医药股份有限公司（以下简称"华润三九"或"公司"）董事会 2024 年第十六 次会议审议通过了《关于续聘公司 2024 年年度审计机构的议案》，现将具体情况公告如下： 为保持审计工作的连续性和稳定性，公司拟续聘毕马威华振为 2024 年年度审计机构， 聘期一年。 一、拟续聘会计师事务所的基本信息 （一）机构信息 1、基本信息 毕马威华振会计师事务所（特殊普通合伙）于 1992 年 8 月 18 日在北京成立，于 2012 年 7 月 5 日获财政部批准转制为特殊普通合伙的合伙制企业，更名为毕马威华振会计师事务 所（特殊普通合伙）（以下简称"毕马威华振 ...

一、关于公司 2024 年半年度报告及报告摘要的议案 股票代码：000999 股票简称：华润三九 编号：2024—086 华润三九医药股份有限公司 2024 年第十二次监事会会议决议公告 本公司及监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。 华润三九医药股份有限公司（以下简称"公司"或"华润三九"）监事会 2024 年第 十二次会议于 2024 年 8 月 22 日在华润三九医药工业园综合办公中心 105 会议室召开。 会议通知以书面方式于 2024 年 8 月 12 日发出。会议由监事会主席陶然先生主持，本次 会议应到监事 5 人，实到监事 4 人，原监事唐娜女士已辞去公司监事职务，不再出席公 司监事会会议。本次会议的召开及程序符合《公司法》和《公司章程》的规定，会议合 法有效。会议以投票方式审议通过了以下议案，并形成决议： 该议案将提交下一次股东大会审议。 附：监事候选人简历 周娇女士：1979 年 3 月出生，中共党员。持有中南财经政法大学法学学士和南开大学 法学硕士学位。曾任华润医药集团有限公司投资与法务部高级经理、法律事务部副总经理等 职务。现任华润医药集 ...

[Important Notice, Table of Contents and Definitions](index=2&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA%E3%80%81%E7%9B%AE%E5%BD%95%E5%92%8C%E9%87%8A%E4%B9%89) This section provides important disclaimers, forward-looking statements, and the company's dividend policy for the reporting period - The company's Board of Directors, Supervisory Board, and senior management ensure the truthfulness, accuracy, and completeness of this semi-annual report and assume legal responsibility[3](index=3&type=chunk) - Forward-looking statements regarding future plans in this report do not constitute a substantive commitment to investors, and the company advises investors to be aware of market and policy risks, R&D innovation risks, M&A integration risks, and raw material price fluctuation risks[4](index=4&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the first half of 2024[5](index=5&type=chunk) [Company Profile and Key Financial Indicators](index=6&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section provides an overview of the company, its key financial performance, and non-recurring gains and losses for the period [Company Profile](index=6&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B) China Resources Sanjiu Medical & Pharmaceutical Co., Ltd. (stock code: 000999) is a Shenzhen Stock Exchange-listed company primarily engaged in the R&D, production, and sales of pharmaceutical and healthcare products, led by Qiu Huawei Company Information | Item | Information | | :--- | :--- | | **Stock Abbreviation** | 华润三九 | | **Stock Code** | 000999 | | **Listing Exchange** | 深圳证券交易所 | | **Company Full Chinese Name** | 华润三九医药股份有限公司 | | **Person in Charge** | 邱华伟 | [Key Accounting Data and Financial Indicators](index=7&type=section&id=%E5%9B%9B%E3%80%81%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) In the first half of 2024, the company achieved **14.106 billion yuan** in operating revenue, a **7.30%** increase, and net profit attributable to shareholders of **2.398 billion yuan**, up **27.77%**, demonstrating strong profitability and healthy cash flow Key Financial Indicators | Key Financial Indicators | Current Period (Yuan) | Prior Period (Yuan) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | **Operating Revenue** | 14.106 billion | 13.146 billion | 7.30% | | **Net Profit Attributable to Shareholders of Listed Company** | 2.398 billion | 1.877 billion | 27.77% | | **Net Profit Attributable to Parent Company After Non-recurring Items** | 2.309 billion | 1.827 billion | 26.33% | | **Net Cash Flow from Operating Activities** | 2.363 billion | 1.772 billion | 33.36% | | **Basic Earnings Per Share (Yuan/Share)** | 1.87 | 1.47 | 27.21% | | **Weighted Average Return on Net Assets** | 12.32% | 10.74% | Increase of 1.58 percentage points | | | **End of Current Period (Yuan)** | **End of Prior Year (Yuan)** | **Year-on-Year Change** | | **Total Assets** | 40.698 billion | 40.148 billion | 1.37% | | **Net Assets Attributable to Shareholders of Listed Company** | 19.954 billion | 18.967 billion | 5.20% | [Non-recurring Gains and Losses Items and Amounts](index=7&type=section&id=%E5%85%AD%E3%80%81%E9%9D%9E%E5%B8%B8%E8%A7%84%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%8F%8A%E9%87%91%E9%A2%9D) During the reporting period, the company's total non-recurring gains and losses amounted to **89.76 million yuan**, primarily from government subsidies totaling **138 million yuan**, contributing to net profit while adjusted net profit still grew strongly by **26.33%** Non-recurring Gains and Losses | Item | Amount (Yuan) | | :--- | :--- | | **Government Grants Recognized in Current Profit/Loss** | 137.997 million | | **Net Other Non-operating Income and Expenses** | -2.34 million | | **Gains/Losses on Disposal of Non-current Assets** | -679.52 thousand | | **Less: Income Tax Impact** | 26.61 million | | **Less: Impact of Minority Interests (After Tax)** | 52.17 million | | **Total** | **89.76 million** | [Management Discussion and Analysis](index=9&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) This section provides an in-depth analysis of the company's business operations, core competencies, financial performance, and risk management strategies [Overview of Principal Business](index=9&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E4%BB%8E%E4%BA%8B%E7%9A%84%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1) Amidst industry pressure, the company focuses on Consumer Healthcare (CHC) and Prescription Drugs, leveraging strong brands and channels for CHC and specialized academic promotion for prescription drugs in areas like cardiovascular and oncology - The pharmaceutical industry faces pressure, with revenue for large-scale pharmaceutical manufacturing nationwide decreasing by **0.9%** year-on-year from January to June 2024, and intense competition in retail channels leading to declines in both physical pharmacy and online sales[27](index=27&type=chunk) - The company's business model is divided into two main segments: - **CHC Consumer Healthcare**: Leveraging brands like '999', covering categories such as cold, gastrointestinal, and dermatological products, sold through extensive distributors, retail pharmacies, and online platforms - **Prescription Drugs**: Covering areas like cardiovascular and anti-tumor, with sales achieved through professional academic promotion in hospitals at various levels[35](index=35&type=chunk)[36](index=36&type=chunk) [Analysis of Core Competencies](index=11&type=section&id=%E4%BA%8C%E3%80%81%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) The company's core strengths include strong brand recognition (e.g., '999'), extensive channel coverage (over 600,000 pharmacies), proven M&A integration capabilities, and leading intelligent manufacturing recognized by the Ministry of Industry and Information Technology - The company possesses a comprehensive brand matrix including the '999' master brand and specialized brands like 'Kunzhongyao 1381', enjoying high market recognition[37](index=37&type=chunk)[38](index=38&type=chunk) - Channel coverage is extensive, with CHC business reaching over **600,000** pharmacies nationwide, and prescription drug business covering thousands of graded hospitals and tens of thousands of grassroots medical institutions[39](index=39&type=chunk) - The company possesses rich M&A integration experience, having successfully completed over ten acquisitions since 2012 and achieving efficient integration through 'Four Reconstructions'[40](index=40&type=chunk) - The company demonstrates significant advantages in intelligent manufacturing, having been selected as a 'Smart Manufacturing Benchmark Enterprise' by the Ministry of Industry and Information Technology, and upgrading its traditional pharmaceutical system with technologies like 5G and AI[42](index=42&type=chunk) [Analysis of Principal Business](index=13&type=section&id=%E4%B8%89%E3%80%81%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) In H1 2024, the company achieved robust growth with **14.106 billion yuan** in revenue (+**7.30%**) and **2.398 billion yuan** in net profit (+**27.77%**), primarily driven by **14.00%** growth in CHC business, while prescription drug revenue declined by **13.07%** due to external factors Business Segment Revenue | Business Segment | 2024H1 Revenue (Yuan) | Year-on-Year Growth | | :--- | :--- | :--- | | **Self-Medication (CHC)** | 7.773 billion | 14.00% | | **Prescription Drugs** | 2.417 billion | -13.07% | | **Traditional Chinese Medicine (Kunyao)** | 1.956 billion | 5.14% | | **Pharmaceuticals, Medical Devices Wholesale and Retail** | 1.684 billion | 19.22% | Key Financial Indicators | Financial Indicators | 2024H1 | Year-on-Year Change | | :--- | :--- | :--- | | **Operating Revenue** | 14.106 billion Yuan | 7.30% | | **Net Profit Attributable to Parent Company** | 2.398 billion Yuan | 27.77% | | **Net Profit Attributable to Parent Company After Non-recurring Items** | 2.309 billion Yuan | 26.33% | | **Net Cash Flow from Operating Activities** | 2.363 billion Yuan | 33.36% | [R&D Innovation](index=13&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E7%A0%94%E5%8F%91%E5%88%9B%E6%96%B0%E4%B8%BA%E7%BF%BC%EF%BC%8C%E8%83%BD%E5%8A%9B%E7%A8%B3%E6%AD%A5%E6%94%80%E5%8D%87%EF%BC%8C%E4%B8%BA%E4%B8%9A%E5%8A%A1%E9%95%BF%E6%9C%9F%E5%8F%91%E5%B1%95%E6%B3%A8%E5%85%A5%E6%BA%90%E5%8A%A8%E5%8A%9B) H1 R&D investment reached **392 million yuan**, focusing on oncology, orthopedics, and respiratory areas, with multiple Class 1 new drugs in clinical trials and two classic traditional Chinese medicine formulas approved for market - R&D investment in the first half of 2024 amounted to **392 million yuan**[44](index=44&type=chunk) R&D Project Pipeline | R&D Project | Registration Category | Indication | Progress | | :--- | :--- | :--- | :--- | | CR999C1905L1 | Class 1 Chemical Drug | Anti-tumor | Clinical Phase I | | CR999C2016L1 | Class 1 Chemical Drug | H3K27M-mutant Glioma | Clinical Phase I | | CR999C2110L1 | Class 2.2 Chemical Drug | Expectorant | NDA Accepted | | KYAZ01-2011-020 | Class 1 Traditional Chinese Medicine/Natural Drug | Ischemic Stroke | Clinical Phase II | - During the reporting period, the company obtained 2 drug registration certificates for Terbinafine Hydrochloride Spray and Sodium Hyaluronate Eye Drops, and 2 classic traditional Chinese medicine formulas, Wenjing Tang Granules and Linggui Zhugan Granules, were approved for market launch[46](index=46&type=chunk) [Quality Management and Green Development](index=15&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%E5%AE%8C%E5%96%84%E8%B4%A8%E9%87%8F%E7%AE%A1%E7%90%86%E4%BD%93%E7%B3%BB%E5%92%8C%E8%83%BD%E5%8A%9B%E5%BB%BA%E8%AE%BE%EF%BC%8C%E6%9E%84%E5%BB%BA%E7%BB%BF%E8%89%B2%E5%8F%AF%E6%8C%81%E7%BB%AD%E5%8F%91%E5%B1%95%E9%95%BF%E6%95%88%E6%9C%BA%E5%88%B6) The company adheres to green development principles, ensuring all pollutant emissions meet standards, with no environmental incidents, while continuously enhancing full lifecycle drug quality management and digital QMS construction - During the reporting period, all pollutant emissions met standards, with no environmental incidents or administrative penalties, and several of its subsidiaries have initiated distributed photovoltaic power generation projects[50](index=50&type=chunk)[51](index=51&type=chunk) - The company continues to improve its quality system, initiating standardization of quality management system documents to align with international regulations and completing the first phase acceptance of its Quality Management System (QMS) project[53](index=53&type=chunk) [Business Segment Analysis](index=16&type=section&id=%EF%BC%88%E4%B8%89%EF%BC%89%E6%B4%9E%E6%99%93%E7%8E%AF%E5%A2%83%E5%8F%98%E5%8C%96%EF%BC%8C%E5%9D%9A%E6%8C%81%E6%88%98%E7%95%A5%E5%BC%95%E9%A2%86%EF%BC%8C%E4%B8%9A%E5%8A%A1%E6%89%8E%E5%AE%9E%E8%BF%88%E8%BF%9B) CHC business grew **14.00%**, driven by respiratory products and chronic disease expansion via Kunyao Group acquisition, while prescription drug revenue declined **13.07%** due to external factors, and traditional Chinese medicine sales recovered despite centralized procurement pressure - CHC Consumer Healthcare business grew by **14.00%** year-on-year, with core categories maintaining a leading position, and respiratory products, driven by 999 Ganmaoling, showing rapid growth[54](index=54&type=chunk)[55](index=55&type=chunk) - Through the acquisition of Kunyao Group, the company achieved leapfrog development in rehabilitation and chronic disease management and the Panax notoginseng industry chain, launching the new '777' brand to represent the Panax notoginseng industry[59](index=59&type=chunk) - Prescription drug business achieved operating revenue of **2.417 billion yuan**, a year-on-year decrease of **13.07%**, primarily due to external environmental factors affecting some products and optimized operating strategies for decoction pieces business[62](index=62&type=chunk) - Facing gross margin pressure from centralized procurement, the Traditional Chinese Medicine business (formula granules) seized opportunities from market restructuring, significantly increasing its market share in joint procurement regions and achieving restorative sales growth[63](index=63&type=chunk) [Analysis of Non-Principal Business](index=20&type=section&id=%E5%9B%9B%E3%80%81%E9%9D%9E%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) During the reporting period, non-principal business had a minor impact on total profit, with other income primarily from **144 million yuan** in government grants and investment income mainly from **12.46 million yuan** in wealth management products, while credit and asset impairment losses collectively had a negative impact of approximately **97.42 million yuan** on profit Non-Principal Business Impact on Profit | Item | Amount (Yuan) | Proportion of Total Profit | Reason for Formation | | :--- | :--- | :--- | :--- | | **Investment Income** | 12.46 million | 0.39% | Primarily due to wealth management product investment income | | **Credit Impairment Losses** | -72.23 million | -2.29% | Primarily due to impairment provision for accounts receivable | | **Asset Impairment Losses** | -25.19 million | -0.80% | Primarily due to inventory write-downs | | **Non-operating Income** | 25.75 million | 0.82% | Primarily due to fines and compensation income | | **Other Income** | 143.85 million | 4.55% | Primarily due to government grants received in the current period | [Analysis of Assets and Liabilities](index=21&type=section&id=%E4%BA%94%E3%80%81%E8%B5%84%E4%BA%A7%E5%8F%8A%E8%B4%9F%E5%80%BA%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) As of the end of the reporting period, the company's total assets were **40.698 billion yuan**, a slight increase of **1.37%** from the end of the previous year, with a shift in asset structure as monetary funds decreased by **3.39** percentage points, primarily due to **3.28 billion yuan** in unexpired bank wealth management products being reclassified as financial assets held for trading, significantly increasing the latter's proportion - The ending balance of monetary funds decreased compared to the beginning of the period, primarily because **3.28 billion yuan** in unexpired bank wealth management products were reclassified into financial assets held for trading at the end of the reporting period[74](index=74&type=chunk) - As of the end of the reporting period, the company had **590 million yuan** in restricted assets, primarily including monetary funds, fixed assets, and construction in progress used for guarantees or pledges[78](index=78&type=chunk) [Analysis of Investment Status](index=22&type=section&id=%E5%85%AD%E3%80%81%E6%8A%95%E8%B5%84%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) During the reporting period, the company did not undertake significant equity or non-equity investments; its financial asset investments primarily consisted of bank wealth management products, with an outstanding balance of **3.28 billion yuan** at period-end, and no securities or derivative investments - No significant equity or non-equity investments were made during the reporting period[79](index=79&type=chunk)[80](index=80&type=chunk) Entrusted Wealth Management Products | Type of Entrusted Wealth Management | Source of Funds | Outstanding Balance (Ten Thousand Yuan) | | :--- | :--- | :--- | | Bank Wealth Management Products | Own Funds | 328,000 | [Risks and Countermeasures](index=23&type=section&id=%E5%8D%81%E3%80%81%E5%85%AC%E5%8F%B8%E9%9D%A2%E4%B8%B4%E7%9A%84%E9%A3%8E%E9%99%A9%E5%92%8C%E5%BA%94%E5%AF%B9%E6%8E%AA%E6%96%BD) The company faces key risks including market and policy risks (industry rectification, centralized procurement, price regulation), R&D innovation risks, M&A integration risks, and raw material price fluctuation risks, for which it has developed corresponding countermeasures such as strict compliance, optimizing full industry chain operations, increasing new product R&D, detailed M&A integration plans, and flexible procurement strategies - Market and Policy Risks: Industry rectification, normalized centralized drug procurement, and drug price regulation may impact the company's revenue and profitability[86](index=86&type=chunk)[87](index=87&type=chunk)[88](index=88&type=chunk) - R&D Innovation Risks: Drug development involves long cycles, high investment, and high failure rates; the company manages these risks through a robust R&D system and project evaluation[89](index=89&type=chunk)[90](index=90&type=chunk) - M&A Integration Risks: Acquisition projects may carry risks of integration not meeting expectations; the company ensures project returns through a comprehensive post-investment integration model and detailed integration plans (e.g., for Kunyao Group)[91](index=91&type=chunk) - Raw Material Price Fluctuation Risks: Prices of traditional Chinese medicinal materials are influenced by various factors; the company addresses this by closely monitoring the market, promoting GAP standardized production, and optimizing production-sales coordination mechanisms[92](index=92&type=chunk) [Corporate Governance](index=27&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86) This section details the company's corporate governance, including shareholder meetings, changes in directors, supervisors, and senior management, and the implementation of equity incentive plans [Shareholder Meetings](index=27&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%8F%AC%E5%BC%80%E7%9A%84%E5%B9%B4%E5%BA%A6%E8%82%A1%E4%B8%9C%E5%A4%A7%E4%BC%9A%E5%92%8C%E4%B8%B4%E6%97%B6%E8%82%A1%E4%B8%9C%E5%A4%A7%E4%BC%9A%E7%9A%84%E6%9C%89%E5%85%B3%E6%83%85%E5%86%B5) During the reporting period, the company held one annual general meeting and three extraordinary general meetings, deliberating on various proposals related to its operations and governance - A total of **4** shareholder meetings were held during the reporting period, including the 2023 Annual General Meeting and three extraordinary general meetings[98](index=98&type=chunk) [Changes in Directors, Supervisors, and Senior Management](index=27&type=section&id=%E4%BA%8C%E3%80%81%E5%85%AC%E5%8F%B8%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, the company completed the re-election of its Board of Directors and Supervisory Board, electing members for the Ninth Board of Directors and Supervisory Board, while President Zhao Bingxiang and Vice President Guo Ting resigned due to work changes, and Board Secretary Zhou Hui was replaced by Liang Zheng due to work adjustments - The company completed the re-election of its Board of Directors and Supervisory Board, electing several new directors, independent directors, and supervisors[99](index=99&type=chunk) - Company President Zhao Bingxiang and Vice President Guo Ting resigned due to work changes[100](index=100&type=chunk) - Mr. Liang Zheng was appointed as the company's new Board Secretary[99](index=99&type=chunk) [Implementation of Equity Incentive Plans](index=28&type=section&id=%E5%9B%9B%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E6%9D%83%E6%BF%80%E5%8A%B1%E8%AE%A1%E5%88%92%E3%80%81%E5%91%98%E5%B7%A5%E6%8C%81%E8%82%A1%E8%AE%A1%E5%88%92%E6%88%96%E5%85%B6%E4%BB%96%E5%91%98%E5%B7%A5%E6%BF%80%E5%8A%B1%E6%8E%AA%E6%96%BD%E7%9A%84%E5%AE%9E%E6%96%BD%E6%83%85%E5%86%B5) The company continued to advance its 2021 Restricted Stock Incentive Plan, with the first unlocking period conditions met for the initial grant during the reporting period, involving **2,630,270** restricted shares for **254** incentive recipients, and a total of **8,649,849** restricted shares granted but not yet unlocked as of period-end - The first unlocking period conditions for the initial grant of the 2021 Restricted Stock Incentive Plan were met, involving **254** incentive recipients, with **2,630,270** restricted shares eligible for unlocking[110](index=110&type=chunk)[174](index=174&type=chunk) - As of the end of the reporting period, the total number of restricted shares granted but not yet unlocked was **8,649,849**, accounting for **0.67%** of the company's total share capital[110](index=110&type=chunk) [Environmental and Social Responsibility](index=32&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E7%8E%AF%E5%A2%83%E5%92%8C%E7%A4%BE%E4%BC%9A%E8%B4%A3%E4%BB%BB) This section outlines the company's environmental compliance, efforts in energy conservation and carbon reduction, and contributions to social responsibility, particularly in rural revitalization through traditional Chinese medicine cultivation [Significant Environmental Issues](index=32&type=section&id=%E4%B8%80%E3%80%81%E9%87%8D%E5%A4%A7%E7%8E%AF%E4%BF%9D%E9%97%AE%E9%A2%98%E6%83%85%E5%86%B5) The company and its subsidiaries are designated as key pollutant-discharging entities, yet during the reporting period, they strictly adhered to environmental regulations, ensuring all pollutant emissions met standards with no environmental incidents or administrative penalties, while actively promoting energy conservation and carbon reduction with a total environmental investment of **15.4166 million yuan** in the first half of the year, and implementing measures such as photovoltaic projects and near-zero carbon park construction to reduce carbon emissions - The company and several of its subsidiaries are designated as key pollutant-discharging entities; the report details the emission concentrations, total amounts, and compliance standards for major pollutants (e.g., COD, ammonia nitrogen, non-methane total hydrocarbons) for each unit, with all emissions meeting standards[115](index=115&type=chunk)[116](index=116&type=chunk)[117](index=117&type=chunk) - In the first half of 2024, the company's total environmental protection investment was **15.4166 million yuan**, and environmental protection taxes were paid in accordance with the law[121](index=121&type=chunk) - The company has implemented multiple measures to reduce carbon emissions, including signing EHS responsibility agreements, establishing green factories, developing and utilizing photovoltaic power, and promoting near-zero carbon park construction experience[123](index=123&type=chunk)[124](index=124&type=chunk)[126](index=126&type=chunk) [Social Responsibility](index=38&type=section&id=%E4%BA%8C%E3%80%81%E7%A4%BE%E4%BC%9A%E8%B4%A3%E4%BB%BB%E6%83%85%E5%86%B5) The company deeply integrates traditional Chinese medicine inheritance and innovation with rural revitalization strategies, establishing over **300,000 mu** of medicinal material planting bases across **20** provinces through models like "company + base + farmers," benefiting **50,000 household-times** of farmers, effectively boosting their income and contributing to rural revitalization - The company actively responds to national rural revitalization policies, integrating the development of the traditional Chinese medicine industry with increasing farmers' income[129](index=129&type=chunk) - Through various cooperation models, the company has established over **300,000 mu** of traditional Chinese medicinal material planting bases across **20** provinces and over **120** counties nationwide, benefiting **50,000 household-times** of farmers and effectively boosting local economic development[130](index=130&type=chunk) [Significant Matters](index=40&type=section&id=%E7%AC%AC%E5%85%AD%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) This section covers significant events including major related party transactions, guarantees provided, and other important corporate developments during the reporting period [Major Related Party Transactions](index=41&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E9%87%8D%E5%A4%A7%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) The company's major related party transactions primarily involve daily operating transactions with affiliates controlled by China Resources Co., Ltd., including cooperation with China Resources Power on new energy projects and energy procurement from China Resources Gas; additionally, the company collaborates with China Resources Biopharmaceutical and participated in establishing the China Resources Pharmaceutical Industry Investment Fund - The company estimates that the total amount of daily related party transactions with affiliates controlled by China Resources Co., Ltd., the same controlling party, will not exceed **3.39 billion yuan** in 2024[144](index=144&type=chunk) - The company collaborates with China Resources Power to provide land fallow management services based on new energy power generation projects, addressing comprehensive land management issues by planting traditional Chinese medicinal materials, with transaction amounts not exceeding **200 million yuan** in 2024[145](index=145&type=chunk) - The company acquired and increased capital in Runsheng Pharmaceutical Co., Ltd. to enrich its respiratory system drug product line[148](index=148&type=chunk) [Major Contracts and Their Performance](index=44&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E9%87%8D%E5%A4%A7%E5%90%88%E5%90%8C%E5%8F%8A%E5%85%B6%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) During the reporting period, the company had no significant entrustment, contracting, or leasing matters; it provided guarantees totaling **606 million yuan** for its subsidiaries, with an actual outstanding guarantee balance of **49.1541 million yuan** at period-end; additionally, the company invested its own funds in bank wealth management products, with an outstanding balance of **3.28 billion yuan** at period-end Guarantees (Ten Thousand Yuan) | Item | Amount | | :--- | :--- | | **Total Approved Guarantee Limit for Subsidiaries During Reporting Period** | 60,600 | | **Total Actual Guarantee Balance for Subsidiaries at End of Reporting Period** | 4,915.41 | | **Ratio of Total Actual Guarantees to Company's Net Assets** | 0.25% | - The company invested its own funds in bank wealth management products, with **3.38 billion yuan** in transactions during the reporting period and an outstanding balance of **3.28 billion yuan** at period-end[161](index=161&type=chunk) [Other Significant Matters](index=47&type=section&id=%E5%8D%81%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E9%87%8D%E5%A4%A7%E4%BA%8B%E9%A1%B9%E7%9A%84%E8%AF%B4%E6%98%8E) During the reporting period, the company completed the re-election of its Board of Directors and Supervisory Board, establishing the Ninth Board of Directors and Supervisory Board, and experienced changes in some senior management positions, including the resignation of the President and Vice President and the appointment of a new Board Secretary - Mr. Zhao Bingxiang, Director and President, and Mr. Guo Ting, Vice President, resigned due to work changes[163](index=163&type=chunk) - The company completed the re-election of its Board of Directors and Supervisory Board, electing members for the Ninth Board of Directors and Supervisory Board[165](index=165&type=chunk) [Share Capital Changes and Shareholder Information](index=50&type=section&id=%E7%AC%AC%E4%B8%83%E8%8A%82%20%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E5%8F%8A%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) This section details changes in the company's share capital and provides an overview of its shareholder structure, including the total number of shareholders and major shareholders' holdings [Share Capital Changes](index=50&type=section&id=%E4%B8%80%E3%80%81%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, the company's total share capital increased from **988.184 million shares** to **1.285 billion shares**, primarily due to two reasons: the unlocking and listing of some shares from the 2021 Restricted Stock Incentive Plan, and the implementation of the 2023 equity distribution, which involved converting capital reserves into shares for all shareholders - The company's total share capital increased from **988.184 million shares** to **1.285 billion shares**[174](index=174&type=chunk) - Key reasons for share capital changes: - **2,630,270** restricted shares from the first unlocking period of the 2021 Restricted Stock Incentive Plan became tradable - Implementation of the 2023 equity distribution, converting capital reserves into **3** shares for every **10** shares held by all shareholders[174](index=174&type=chunk)[175](index=175&type=chunk) [Shareholder Count and Shareholding Information](index=53&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5) As of the end of the reporting period, the company had a total of **38,110** common shareholders, with the controlling shareholder, China Resources Pharmaceutical Holdings Co., Ltd., holding **63.00%**, indicating a stable equity structure, and the top ten shareholders also including Hong Kong Securities Clearing Company Limited and several well-known public funds such as CSI Medical & Healthcare Mixed Securities Investment Fund - As of the end of the reporting period, the total number of common shareholders was **38,110**[184](index=184&type=chunk) Top Shareholders | Shareholder Name | Shareholding Percentage | Number of Shares Held | | :--- | :--- | :--- | | **China Resources Pharmaceutical Holdings Co., Ltd.** | 63.00% | 809.34 million | | **Hong Kong Securities Clearing Company Limited** | 5.68% | 72.999 million | | **CSI Medical & Healthcare Mixed Securities Investment Fund** | 3.54% | 45.437 million | [Preferred Share Information](index=57&type=section&id=%E7%AC%AC%E5%85%AB%E8%8A%82%20%E4%BC%98%E5%85%88%E8%82%A1%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) This section confirms the absence of preferred shares during the reporting period - The company had no preferred shares during the reporting period[193](index=193&type=chunk) [Bond Information](index=58&type=section&id=%E7%AC%AC%E4%B9%9D%E8%8A%82%20%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) This section confirms the absence of bond-related matters during the reporting period - The company had no bond-related matters during the reporting period[196](index=196&type=chunk) [Financial Report](index=59&type=section&id=%E7%AC%AC%E5%8D%81%E8%8A%82%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E5%91%8A) This section presents the company's unaudited consolidated and parent company financial statements, including balance sheets, income statements, cash flow statements, and statements of changes in equity, along with significant accounting policies and notes [Financial Statements](index=59&type=section&id=%E4%BA%8C%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section contains the company's unaudited 2024 semi-annual consolidated and parent company financial statements, including the balance sheet, income statement, cash flow statement, and statement of changes in equity; as of June 30, 2024, the company's consolidated total assets were **40.7 billion yuan**, and equity attributable to parent company owners was **19.95 billion yuan**; in the first half of 2024, total operating revenue was **14.11 billion yuan**, and net profit attributable to parent company owners was **2.4 billion yuan** Consolidated Balance Sheet Key Data (June 30, 2024) | Item | Amount (Yuan) | | :--- | :--- | | **Total Assets** | 40.698 billion | | **Total Liabilities** | 15.324 billion | | **Total Equity Attributable to Parent Company Owners** | 19.954 billion | Consolidated Income Statement Key Data (First Half of 2024) | Item | Amount (Yuan) | | :--- | :--- | | **I. Total Operating Revenue** | 14.106 billion | | **III. Operating Profit** | 3.147 billion | | **V. Net Profit** | 2.577 billion | | **Net Profit Attributable to Parent Company Shareholders** | 2.398 billion | [Significant Accounting Policies and Accounting Estimates](index=71&type=section&id=%E4%BA%94%E3%80%81%E9%87%8D%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%94%BF%E7%AD%96%E5%8F%8A%E4%BC%9A%E8%AE%A1%E4%BC%B0%E8%AE%A1) The financial statements are prepared in accordance with Chinese Enterprise Accounting Standards on a going concern basis; this section details the company's specific accounting policies and key accounting estimates for business combinations, financial instruments, revenue recognition, capitalization of R&D expenditures, and leases, which are fundamental to understanding the company's financial position and operating results - Revenue Recognition: Revenue is recognized when the customer obtains control of the related goods or services; for contracts with multiple performance obligations, the transaction price is allocated based on the relative standalone selling prices[320](index=320&type=chunk) - R&D Expenditures: Research phase expenditures are expensed, while development phase expenditures are capitalized when five conditions are met, including technical feasibility, clear intent to use or sell, and ability to generate economic benefits[307](index=307&type=chunk) - Impairment of Financial Assets: Loss provisions are recognized for financial assets like accounts receivable based on expected credit losses; for accounts receivable, expected credit losses are measured throughout their entire lifetime[254](index=254&type=chunk)[256](index=256&type=chunk) [Notes to Consolidated Financial Statement Items](index=96&type=section&id=%E4%B8%83%E3%80%81%E5%90%88%E5%B9%B6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E9%A1%B9%E7%9B%AE%E6%B3%A8%E9%87%8A) This section provides detailed explanations and data breakdowns for each major item in the consolidated financial statements, including **166 million yuan** in restricted monetary funds, accounts receivable primarily within 1 year with **462 million yuan** in bad debt provisions, inventory book value of **4.99 billion yuan**, goodwill original book value of **5.618 billion yuan** with accumulated impairment of **495 million yuan** and no new impairment in the current period, and total R&D expenditures of **392 million yuan**, of which **65.23 million yuan** were capitalized - As of period-end, accounts receivable balance was **6.932 billion yuan**, with bad debt provisions of **462 million yuan**, resulting in a carrying value of **6.470 billion yuan**, of which **88.9%** were accounts receivable within 1 year[378](index=378&type=chunk)[380](index=380&type=chunk) - Goodwill's original book value was **5.618 billion yuan**, primarily from acquisitions of Zhejiang Zhongyi, Shenghuo Pharmaceutical, Aonuo Pharmaceutical, and Kunyao Group; the ending balance of goodwill impairment provision was **495 million yuan**, with no new impairment recognized during the reporting period[425](index=425&type=chunk)[426](index=426&type=chunk)[427](index=427&type=chunk) 2024 First Half R&D Expenditures | Item | Amount (Yuan) | | :--- | :--- | | **Expensed R&D Expenditures** | 326.46 million | | **Capitalized R&D Expenditures** | 65.23 million | | **Total** | **391.69 million** |

股票代码：000999 股票简称：华润三九 编号：2024-084 华润三九医药股份有限公司 关于联合控股子公司昆药集团股份有限公司 举行 2024 年半年度业绩说明会的公告 （一） 会议召开时间： 2024 年 9 月 2 日下午 15:00-16:00 （二） 网络直播地址： 全景路演（https://rs.p5w.net） （三） 会议召开方式： 网络文字互动 关系互动平台（http://ir.p5w.net/zj/）进入问题征集专题页面，或通过公司邮箱 (000999@999.com.cn)进行提问。公司将在 2024 年半年度业绩说明会上对投资者普遍关 注的问题进行回答。 四、联系方式 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。 华润三九医药股份有限公司(以下简称"公司")将于 2024 年 8 月 24 日发布公司 2024 年半年度报告，为便于投资者了解公司生产经营情况及未来发展规划，公司计划于 2024 年 9 月 2 日（星期一）下午 15:00-16:00，联合公司控股子公司昆药集团股份有限公司 举办 2024 年半年度业绩说明会。 一 ...

股票代码：000999 股票简称：华润三九 编号：2024—083 华润三九医药股份有限公司 关于控股子公司昆药集团担保事项的进展公告 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。 重要内容提示： 一、 担保情况概述 1. 担保事项履行的相关程序 为适应昆药集团及其相关下属公司业务发展需要，满足相关公司融资担保需求，经华润 三九董事会 2024 年第四次会议及 2023 年年度股东大会审议通过，2024 年度昆药集团及其 下属子公司预计为昆药集团下属子公司不超过人民币 6.06 亿元的银行融资授信业务提供连 带责任担保，详见《华润三九医药股份有限公司关于公司控股子公司昆药集团 2024 年度担 被担保人：大理辉睿药业有限公司（以下简称"大理辉睿"）。上述被担保人为华润三 九医药股份有限公司（以下简称"华润三九"）控股子公司昆药集团股份有限公司（以 下简称"昆药集团"）下属全资子公司昆药集团医药商业有限公司（以下简称"昆药商 业"）的控股子公司，不存在关联担保。 本次担保金额及已实际为其提供的担保余额：本次为上述被担保人提供的担保金额为 765 万元，累计已实 ...

本公司及监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。 股票代码：000999 股票简称：华润三九 编号：2024—082 华润三九医药股份有限公司 关于监事辞职的公告 华润三九医药股份有限公司监事会 公司监事会于 2024 年 8 月 9 日收到监事唐娜女士提交的辞职报告，由于工作变动 原因，唐娜女士提请辞去公司第九届监事会监事职务。唐娜女士辞职后不再在本公司担 任职务。截至本公告日，唐娜女士未持有本公司股票。 二○二四年八月九日 根据《公司章程》及有关规定，唐娜女士的辞职自辞职报告送达公司监事会时生效。 此次监事辞职不会导致公司监事会成员低于法定最低人数，不会影响公司监事会正常运 作。公司将按照法律法规和《公司章程》的有关规定，尽快选举产生新任监事。 1 公司监事会谨对唐娜女士在任职期间对公司发展做出的重要贡献表示衷心感谢！ 特此公告。 ...

Investment Rating - The investment rating for the company is "Buy" [5][11][14] Core Insights - On August 4, 2024, the company announced plans to acquire a 28% stake in Tian Shi Li Group for a total of 6.212 billion yuan, with the share price set at 14.85 yuan per share. This acquisition will change the controlling shareholder from Tian Shi Li Group to the company itself, with the actual controller becoming China Resources Limited [3][4] - The acquisition is expected to enhance the company's competitive edge in the field of traditional Chinese medicine innovation, leveraging Tian Shi Li's strong marketing network and product matrix in the cardiovascular sector [4][11] Summary by Sections Company Overview - Tian Shi Li primarily operates in the medical channel with a strong marketing advantage, focusing on cardiovascular medications, while the company specializes in self-medication and prescription drugs [4] - In 2023, Tian Shi Li reported revenues of 8.674 billion yuan and a net profit of 1.071 billion yuan, while the company achieved revenues of 24.739 billion yuan and a net profit of 2.853 billion yuan [4] Financial Forecast - The company forecasts revenues of 29.191 billion yuan, 33.509 billion yuan, and 37.284 billion yuan for 2024, 2025, and 2026 respectively, with growth rates of 18.00%, 14.79%, and 11.27% [5][12] - The projected net profits for the same years are 3.390 billion yuan, 3.835 billion yuan, and 4.253 billion yuan, with corresponding EPS of 2.64 yuan, 2.99 yuan, and 3.31 yuan [5][11] Market Position - The company is positioned as a leader in the OTC traditional Chinese medicine sector, with a robust acquisition capability to enhance its product chain [11] - The acquisition is anticipated to drive dual-market growth in both hospital and outpatient settings, aligning with national policies that emphasize the innovation and development of traditional Chinese medicine [11][12]

证券代码：000999 证券简称：华润三九 投资者关系活动记录表 编号：2024-018 □特定对象调研 √分析师会议 投资者关系 □媒体采访 □业绩说明会 活动类别 □新闻发布会 □路演活动 □现场参观 √其他 中信建投、中信证券、海通证券、兴业证券、国盛证券、天风证券、中金公司、方正证券、 参与单位名称 国信证券、国投证券、国海证券、东北证券、光大证券、国金证券、华创证券、平安证券、 及人员姓名 申万宏源、中泰证券、招商证券、浙商证券等证券、投资机构分析师 时间 2024 年 8 月 5 日 地点、方式 综合办公中心（电话会议） 董事长 邱华伟先生 上市公司 副总裁 周辉女士 接待人员姓名 财务总监兼董事会秘书 梁征先生 投资者 公司于 2024 年 8 月 5 日和中信建投、中信证券等券商联合举行重大资产重组项目电话沟 关系活动 通会议，就公司重大资产购买预案等交易事项与投资者进行了互动交流。 主要内容 公司副总裁周辉女士向各位投资者介绍了重大资产重组项目的相关情况与进展，具体汇报 华润三九医药股份有限公司 介绍 内容如下： "十四五"以来，公司围绕"争做行业头部企业"的战略目标，坚持"品牌+创新"双轮 ...

Investment Rating - The report maintains a "Buy" rating for China Resources Sanjiu (华润三九) [4][5] Core Views - The company plans to acquire a 28% stake in Tianjin Tasly Pharmaceutical (天士力), which is expected to enhance its competitive advantage through industrial synergy and innovation in traditional Chinese medicine [4] - The target price has been raised to 62.88 CNY, reflecting a price-to-earnings (PE) ratio of 24x for 2024 [4] Summary by Sections Acquisition Details - The company intends to purchase 418 million shares of Tianjin Tasly at a price of 14.85 CNY per share, totaling approximately 6.212 billion CNY [4] - Post-acquisition, China Resources Sanjiu will become the controlling shareholder of Tianjin Tasly, with a voting rights ratio not exceeding 12.5008% [4] Competitive Advantages - The acquisition is expected to strengthen the company's core competitiveness in two main areas: industrial synergy and innovation [4] - Tianjin Tasly is a leading enterprise in modern traditional Chinese medicine, focusing on cardiovascular, digestive metabolism, and oncology fields, which will complement China Resources Sanjiu's strengths in over-the-counter (OTC) channels [4] Financial Projections - The report forecasts earnings per share (EPS) of 2.62 CNY, 2.92 CNY, and 3.17 CNY for the years 2024, 2025, and 2026 respectively [4][12] - Revenue is projected to grow from 24.739 billion CNY in 2023 to 34.215 billion CNY by 2026, reflecting a compound annual growth rate (CAGR) of approximately 12.8% [12][14] Market Position - The company has a strong brand effect and is expected to leverage Tianjin Tasly's research and development capabilities to enhance its product pipeline [4] - The report highlights that Tianjin Tasly's R&D investment accounted for 17.7% of its pharmaceutical revenue in 2023, indicating a strong commitment to innovation [4]

业绩简评 2024 年 8 月 4 日，公司发布公告，拟以支付现金的方式向天士力 集团及其一致行动人天津和悦、天津康顺、天津顺祺、天津善臻、 天津通明、天津鸿勋合计购买其所持有的天士力 418,306,002 股 股份（占天士力已发行股份总数的 28%）。同日，天士力集团与国 新投资有限公司签署协议，拟通过协议转让的方式向其转让所持 有的 74,697,501 股天士力股份，占天士力总股本的 5%。 本次交易，标的股份拟定的每股转让价格为 14.85 元，公司购买 标的股份对应转让总价款约为 62.1 亿元；国新投资购买标的股份 对应转让总价款约为 11.1 亿元。本次交易完成后，天士力控股股 东将由天士力集团变更为华润三九，实际控制人变更为中国华润 有限公司。 经营分析 优秀产品矩阵+强研发实力，天士力有助公司夯实行业领先地位。 天士力聚焦中国市场容量最大、发展最快的心脑血管、消化代谢、 肿瘤三大疾病领域，医药工业板块已形成以现代中药、生物药、 化学药协同发展的业务格局。现代中药领域，以复方丹参滴丸带 动了养血清脑颗粒（丸）、芪参益气滴丸、注射用益气复脉、注射 用丹参多酚酸等系列领先品牌产品。生物药领域，独 ...