Group 1 - YXTT announced an investor research meeting scheduled for October 31, 2025, with participation from Vice President and Board Secretary Li Zhenghong [1] - For the first half of 2025, YXTT's revenue composition was as follows: retail accounted for 73.14%, wholesale for 23.68%, and other businesses for 3.17% [1] - As of the report, YXTT's market capitalization stood at 7.9 billion yuan [1]

Group 1: Financial Performance - Revenue for Q3 2025 was 4.1 billion CNY, a decrease of 4.6% year-on-year, primarily due to a decline in retail business in Yunnan and risk management in distribution [2] - Net profit attributable to shareholders for the first nine months of 2025 was 269 million CNY, down 8.17% year-on-year, with credit and asset impairment losses impacting nearly 15 million CNY [2] - Total cash dividends for 2025 amounted to nearly 300 million CNY, with a share buyback of 150 million CNY, of which 135 million CNY was financed through a special loan [2] Group 2: Business Segment Performance - Retail business, which includes retail pharmaceuticals (over 55% of retail revenue), saw a significant decline in Yunnan, while other regions maintained positive growth [3] - Distribution business faced a substantial drop in revenue due to risk management measures following the Kunming Minsheng Pharmaceutical incident, affecting various distribution categories [4] - The Chinese medicine industrial segment is focusing on formula granules, with nearly 660 products meeting local standards and around 400 products progressing towards national standards [4] - The healthcare business, although small, is growing rapidly, with the first centralized elderly care center achieving profitability and plans for a second center expected to open by the end of 2026 [4] Group 3: Store Network and Adjustments - The number of stores decreased from 11,498 at the beginning of the year to 11,230 by September 30, 2025, with 430 closures and 288 openings/migrations [5] - Yunnan has 5,521 stores (49% of total), with ongoing adjustments to enhance store efficiency and expand non-pharmaceutical categories [5] - By the end of 2025, the company plans to complete adjustments in 1,000 stores, focusing on health-related products and professional categories [5] Group 4: Strategic Insights and Future Plans - The company aims to optimize internal operations in response to external policy changes and macroeconomic factors affecting the retail environment [6] - The introduction of long-term care insurance presents significant opportunities for the healthcare business, with existing centers positioned to accommodate this demand [9] - Future investments will focus on regions like Southwest China and Hainan, with plans to enhance store density and service capabilities [10] - The company plans to promote community and home-based elderly care services, aligning with the preference of over 95% of seniors for home care [11]

Group 1: Investor Relations Activities - The investor relations activity was categorized as an analyst meeting, with a total of 51 participants from various securities firms [2] - The meeting took place on October 31, 2025, from 15:30 to 16:30 at the headquarters of Yixin Tang Pharmaceutical Group [2] - Key company representatives included Vice President and Board Secretary Mr. Li Zhenghong and Financial Officer Mr. Xiao Donglei [2] Group 2: Participants - Notable participants included analysts from Northeast Securities, CITIC Securities, and UBS, among others [3] - A total of 51 investors attended, representing a diverse range of financial institutions [2][3] Group 3: Meeting Purpose - The primary focus of the meeting was the discussion of the Q3 2025 financial results of Yixin Tang Pharmaceutical [2] - The meeting served as a platform for investors to gain insights into the company's performance and future outlook [2]

一心为民 全心服务 关于使用部分暂时闲置自有资金进行现金管理到期收回的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 一心堂药业集团股份有限公司(以下简称"公司")于2025年5月21日召开2024年年度股东会， 审议通过《关于使用部分暂时闲置自有资金进行现金管理的议案》，同意公司及全资子公司使 用额度不超过人民币25亿元的闲置自有资金进行现金管理（包括但不限于购买一年期以内的固 定收益型或保本浮动收益型理财产品、大额存单、定期存款、通知存款、协定存款等），相关 额度在投资期限内任一时点的现金管理金额(含前述投资的收益进行再投资的相关金额)不超过 25亿元人民币。在上述额度内，资金可以滚动使用，在额度范围内授权董事长具体办理实施相 关事项。 一、现金管理到期收回情况 根据 2024 年年度股东会决议，公司与相关银行签署合同，使用部分暂时闲置自有资金进 行现金管理，现部分产品到期收回，基本情况如下： | 签约银行 | 产品名称 | 认购金额 | 收益类型 | 合同起始日 | 合同到期日 | 收益（元） | | --- | --- | --- | --- ...

Core Insights - YXTT (002727.SZ) reported its Q3 2025 results, revealing that 21 institutional investors hold a total of 105 million shares, representing 17.96% of the company's total equity [1] - The top ten institutional investors collectively own 16.48% of YXTT, with a decrease of 1.04 percentage points compared to the previous quarter [1] Institutional Holdings - In the public fund sector, seven funds increased their holdings, including Rongtong Health Industry Flexible Allocation Mixed A/B and Rongtong New Growth Mixed A, with an increase rate of 1.17% [2] - Six public funds reduced their holdings, including Guotai Ruiyin Rui Li Mixed (LOF) A, with a decrease rate of 0.15% [2] - Six new public funds were disclosed this period, including Xingquan Trend Investment Mixed (LOF) and Xingquan He Tai Mixed A [2] - A total of 153 public funds were not disclosed this period, including GF Technology Innovation Mixed A and GF Value Core Mixed A [2] Foreign Investment - One foreign fund, Hong Kong Central Clearing Limited, increased its holdings, with an increase rate of 0.64% [2]

Core Viewpoint - The company has announced its financial results for the third quarter of 2025, including a plan for asset impairment provisions and a cash dividend distribution to shareholders [14][24]. Financial Data - The company reported a tax-prepared profit reduction of RMB 11.47 million due to asset impairment provisions for the first three quarters of 2025 [14][19]. - The company also reported a tax-prepared profit reduction of RMB 15.68 million due to credit impairment losses for the same period [16][19]. - The cash dividend distribution plan involves a payout of RMB 2 per 10 shares, totaling RMB 114.83 million (including tax) [5][6]. Business Development - The company is focusing on expanding its traditional Chinese medicine business, particularly in the areas of food and medicine integration, formula granules, and national standard products [7]. - The first centralized healthcare center has achieved breakeven within two years, and a second center is under construction, expected to open in the first half of 2026 [8]. - The company has revamped 805 stores in its non-pharmaceutical business segment, which includes health foods, medical devices, and wellness products, contributing significantly to overall performance growth [10].

Core Viewpoint - YXTT (002727.SZ) reported a decline in revenue and net profit for the first three quarters of 2025, indicating potential challenges in its financial performance [1] Financial Performance - The company achieved an operating revenue of 13.001 billion yuan, a year-on-year decrease of 4.33% [1] - The net profit attributable to shareholders was 269 million yuan, down 8.17% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 253 million yuan, reflecting a significant decline of 26.27% year-on-year [1]

Core Insights - YXTT reported a decline in both revenue and net profit for the first three quarters of 2025 [1] Financial Performance - YXTT's revenue for the first three quarters reached 13.001 billion yuan, representing a year-on-year decrease of 4.33% [1] - The net profit attributable to shareholders was 269 million yuan, down 8.17% year-on-year [1]

Core Viewpoint - YXTT is a well-known pharmaceutical retail chain in China, with a strong brand influence and mature supply chain system, primarily engaged in pharmaceutical retail and wholesale business [1] Financial Performance - In Q3 2025, YXTT reported revenue of 13.001 billion, ranking 4th among 8 companies in the industry, with the industry leader DSR's revenue at 20.068 billion and the average at 10.731 billion [2] - The net profit for the same period was 280 million, also ranking 4th, with the industry leader YF's net profit at 1.321 billion and the average at 478 million [2] Financial Ratios - As of Q3 2025, YXTT's debt-to-asset ratio was 52.85%, lower than the previous year's 54.06% and the industry average of 61.53%, indicating good solvency [3] - The gross profit margin for Q3 2025 was 32.46%, up from 31.73% year-on-year and above the industry average of 31.47%, showing improved profitability [3] Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 10.53% to 37,500, while the average number of shares held per shareholder decreased by 9.53% to 10,600 [5] - Notable changes among the top ten shareholders include an increase in holdings by Hong Kong Central Clearing Limited and other funds [5] Business Strategy and Outlook - YXTT is facing pressure on performance due to a slight decrease in the number of stores, but is actively improving store formats and introducing new product categories [6] - The company aims to enhance service quality and strengthen new retail business, with new retail sales reaching 730 million in H1 2025, a year-on-year increase of 13.6% [6] - Analysts have adjusted earnings forecasts for 2025-2027, with target prices set at 17.00 and 18.47, maintaining a "buy" rating [6]

一心堂药业集团股份有限公司 第六届董事会 2025 年第七次独立董事专门会议审核意见 根据《中华人民共和国公司法》《中华人民共和国证券法》《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》等法律、行政法规、中国证券监督管理委员会行政规章和规范性文件、深 圳证券交易所相关规则及规定以及《一心堂药业集团股份有限公司章程》等有关规 定，一心堂药业集团股份有限公司（以下简称"公司"）独立董事于 2025 年 10 月 27 日召开了第六届董事会 2025 年第七次独立董事专门会议。独立董事本着实事求 是、认真负责的态度，公平、公正、诚实信用的原则，基于独立判断的立场，对公 司第六届董事会第十八次会议相关事项进行了认真审核，并发表审核意见如下： 一、关于 2025 年前三季度计提资产减值准备的议案 杨先明 龙小海 陈旭东 一心堂药业集团股份有限公司 2025 年 10 月 27 日 独立董事签名： 经审查，公司本次计提资产减值准备遵循了《企业会计准则》要求的谨慎性原 则，能够更加公允反映公司的财务状况和经营成果，有助于提供真实、可靠、准确 的会计信息，不存在损害公司 ...