Group 1: Company Performance and Expectations - The company has not yet disclosed its 2024 performance, with a report expected by the end of April 2025. Sales have been impacted by national policy adjustments, but the company is implementing measures to address this [2] - The current inventory levels are normal, maintained at approximately 1.5 to 2 months, which is lower than the same period last year [2] Group 2: Cost Management and Strategic Initiatives - The biopharmaceutical sector is facing challenges, with the company controlling costs and optimizing personnel structures to minimize losses from projects like Baofang and Baoshun [2] - The company is actively seeking partners for its biopharmaceutical segment and optimizing its R&D pipeline to focus on promising projects [2] Group 3: Future Plans and Shareholder Engagement - The company is looking for acquisition opportunities that align with its strategic development and can enhance corporate value [3] - The company intends to maintain its high dividend payout policy, ensuring stable cash flow to support operations and development [3] - The first employee stock ownership plan has been successful, and the company plans to refine its incentive mechanisms while considering other motivational strategies [3]

桂[Ta林ble三_Sto金ckN（ameRptType] 002275） 公司点评 业绩持续优化，三金品牌稳健发展 | --- | --- | --- | |--------------------------------------------------------------------------------------------------------------------------------------------|--------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ...

证券代码：002275 证券简称：桂林三金 公告编号：2024-034 桂林三金药业股份有限公司 1.2024 年前三季度权益分派方案已获 2024 年 11 月 14 日召开的 2024 年第一 次临时股东大会审议通过，具体方案为：以公司总股本 587,568,600 股为基数按 每 10 股派发现金股利 2.50 元（含税），预计共分配现金股利 146,892,150.00 元(含 税)；本次利润分配不送红股，不以资本公积转增股本。如公司在实施权益分派 的股权登记日前公司总股本及应分配股数发生变动的，拟维持每股分配比例不变， 相应调整分配总额。 2.公司回购专用证券账户中的股份不参与本次权益分派，截至目前，公司回 购专用证券账户中的股份为 0 股。 3.自分配方案披露至实施期间公司总股本及应分配股数未发生变化。 4.本次实施的分配方案与股东大会审议通过的分配方案及其调整原则一致。 5.本次实施分配方案距离股东大会审议通过的时间未超过两个月。 二、权益分派方案 本公司 2024 年第三季度权益分派方案为：以公司现有总股本剔除已回购股 份 0 股后的 587,568,600 股为基数，向全体股东每 10 股派 ...

证券代码：002275 证券简称：桂林三金 编号：2024-033 桂林三金药业股份有限公司 2024年第一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.本次股东大会未出现否决提案的情形。 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、 会议召开情况 1.召开时间： （1）现场会议召开时间：2024年11月14日15:00； （2）网络投票时间：通过深圳证券交易所交易系统投票的时间为2024年11 月14日9:15—9:25,9:30—11:30 和13:00—15:00；通过深圳证券交易所互联网 投票系统（http://wltp.cninfo.com.cn）投票时间为2024年11月14日9:15-15:00 期间的任意时间。 2.现场会议召开地点：广西桂林市临桂区人民南路9号公司四楼会议室 3.召开方式：现场投票与网络投票相结合的方式 1.股东出席的总体情况：通过现场和网络投票出席会议的股东及股东授权代 表140人，代表股份407,140,603股，占公司有表决权股份总数的69.2924%。其中： 通过现 ...

关于桂林三金药业股份有限公司 2024 年第一次临时股东大会的法律意见书 致：桂林三金药业股份有限公司 受桂林三金药业股份有限公司（以下简称"公司"）聘请，北京市通商律师 事务所指派律师（以下简称"本所律师"）出席了公司 2024 年第一次临时股东 大会（以下简称"本次股东大会"），并依据《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》《深圳证券交易所上市公司 股东大会网络投票实施细则》等法律、法规、规章、规范性文件及《桂林三金药 业股份有限公司章程》（以下简称"《公司章程》"）的规定，对公司本次股东 大会召集及召开程序、出席会议的人员资格、召集人资格、提案审议情况、股东 大会的表决方式、表决程序和表决结果等重要事项的合法性进行了审核和见证， 现出具本法律意见书如下： 一、 本次股东大会的召集与召开程序 中国北京市建国门外大街 1 号国贸写字楼 2 座 12-15 层 100004 12-15th Floor, China World Office 2, No. 1 Jianguomenwai Avenue, Beijing 100004, China 电话 Tel: +86 1 ...

桂林三金药业股份有限公司投资者关系活动记录表 编号：2024033 | --- | --- | --- | |-------------------------|------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Investment Rating - The report assigns a rating of "Accumulate" (downgraded) for the company [4][5] Core Views - The company's core products are gradually recovering growth, while second-line products are showing stable expansion. The sales of key products like Sanjin Pian and Xigua Shuang have experienced fluctuations due to national policy adjustments, but the company has implemented targeted measures to stabilize sales [2][4] - The company's overall profitability remains stable, with a gross margin of 74.84%, an increase of 1.27 percentage points year-on-year. The operating cash flow has also improved by 1.45% year-on-year [3][4] Financial Performance Summary - For the first three quarters of 2024, the company achieved operating revenue of 1.575 billion yuan, a year-on-year decrease of 3.49%, and a net profit attributable to the parent company of 384 million yuan, down 3.28% year-on-year. However, in Q3 alone, the revenue was 506 million yuan, up 15.71% year-on-year, and the net profit attributable to the parent company was 82.9 million yuan, a significant increase of 377.72% year-on-year [1][4] - The company has adjusted its revenue forecasts for 2024-2025, lowering the expected operating revenue from 2.714 billion yuan and 3.148 billion yuan to 2.208 billion yuan and 2.407 billion yuan, respectively [4][5] Key Financial Metrics - The company reported a gross margin of 74.84% for the first three quarters of 2024, with a period expense ratio of 45.78%, which is an increase of 2.28 percentage points year-on-year. The sales expense ratio increased by 3.79 percentage points to 31.84% [3][4] - The company's total market capitalization is approximately 8.701 billion yuan, with a circulating market capitalization of about 8.279 billion yuan [5]

Investment Rating - The investment rating for the company is "Buy" (maintained) [3] Core Views - The company has shown a recovery trend in its main products, with significant growth in Q3 2024, achieving a revenue of 5.06 billion yuan (+15.71%) and a net profit of 0.83 billion yuan (+377.72%) [5][6] - The company is expected to maintain a high dividend payout ratio, with a proposed cash dividend of 1.47 billion yuan for the first three quarters of 2024, reflecting confidence in its stable profitability and financial health [7] - The company's net profit forecast for 2024-2026 is projected to be 4.6 billion yuan, 5.2 billion yuan, and 5.8 billion yuan respectively, with corresponding P/E ratios of 19, 17, and 15 [7] Financial Performance Summary - For the first three quarters of 2024, the company reported a revenue of 15.75 billion yuan (-3.49% YoY) and a net profit of 3.84 billion yuan (-3.28% YoY) [5] - The company’s industrial segment revenue for H1 2024 was 10.38 billion yuan (-5.6%), while the commercial circulation segment revenue was 0.22 billion yuan (-5.62%) [6] - The company’s total assets were reported at 3,934.30 million yuan, with a total market value of 8,737.15 million yuan [8] Earnings Forecast - The company is expected to achieve a revenue of 22.83 billion yuan in 2024, with a net profit of 4.59 billion yuan, reflecting a YoY growth of 9.1% [10] - The projected earnings per share (EPS) for 2024 is 0.78 yuan, with a gross margin of 74.9% [10] Market Performance - The company’s stock price is currently at 14.87 yuan, with a 52-week price range of 11.69-17.40 yuan [3][8] - The company has shown a relative performance against the CSI 300 index, with a 1-month absolute increase of 2.84% [4]

桂林三金药业股份有限公司投资者关系活动记录表 编号：2024032 | --- | --- | --- | |-------------------------|-------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [2][5]. Core Views - The company has shown significant improvement in Q3 performance, with revenue and profit growing rapidly. The Q3 revenue reached 5.06 billion yuan, an increase of 15.71%, and the net profit attributable to shareholders was 0.83 billion yuan, up 377.72% [3][4]. - The company is expected to stabilize and recover its performance in Q4 and the following year as the impact of high base factors diminishes [3][5]. Financial Performance Summary - For the first three quarters of 2024, the company reported a total revenue of 15.75 billion yuan, a decrease of 3.49%, and a net profit of 3.84 billion yuan, down 3.28%. However, the operating cash flow net amount was 2.34 billion yuan, an increase of 1.45% [3][4]. - The gross margin for the first three quarters of 2024 was 74.84%, an increase of 1.27 percentage points, while the net profit margin was 24.38%, up 0.05 percentage points [4]. - The company has a healthy cash flow, with cash and cash equivalents amounting to 9.67 billion yuan as of the end of September 2024, a year-on-year increase of 29% [4]. Earnings Forecast and Investment Suggestions - The company is expected to achieve revenues of 23.89 billion yuan, 26.39 billion yuan, and 29.16 billion yuan for the years 2024, 2025, and 2026, respectively. The net profit attributable to shareholders is projected to be 4.81 billion yuan, 5.31 billion yuan, and 5.87 billion yuan for the same years [5][6]. - The current stock price corresponds to a price-to-earnings ratio (PE) of 18.3, 16.6, and 15.0 for the years 2024, 2025, and 2026, respectively, supporting the "Buy" rating [5][6].