中国北京市朝阳区建国路 77 号华贸中心 3 号写字楼 34 层 邮政编码 100025 电话: (86-10) 5809-1000 传真: (86-10) 5809-1100 北京市竞天公诚律师事务所 关于一心堂药业集团股份有限公司 致：一心堂药业集团股份有限公司 根据《中华人民共和国公司法》（以下简称"《公司法》"）以及中国证券监 督管理委员会颁布的《上市公司股东会规则（2025年修订）》（以下简称"《股 东会规则》"）的规定，北京市竞天公诚律师事务所（以下简称"本所"）指派律 师对一心堂药业集团股份有限公司（以下简称"公司"）2025年度第二次临时股东 会（以下简称"本次股东会"）进行现场见证，并就本次股东会的有关事宜出具本 法律意见书。 本所及经办律师依据《中华人民共和国证券法》《律师事务所从事证券法律 业务管理办法（2023）》和《律师事务所证券法律业务执业规则（试行）》等规 定及本法律意见书出具日以前已经发生或者存在的事实，严格履行了法定职责， 遵循了勤勉尽责和诚实信用原则，进行了充分的核查验证，保证本法律意见书所 认定的事实真实、准确、完整，所发表的结论性意见合法、准确，不存在虚假记 载、误导性 ...

一心为民 全心服务 股票代码：002727 股票简称：一心堂 公告编号：2025-083 号 一心堂药业集团股份有限公司 2025 年度第二次临时股东会暨中小投资者表决结果公告 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。 特别提示： 1.本次股东会没有增加、否决或变更提案。 2.本次股东会不涉及变更前次股东会决议。 一、会议召开和出席情况 （一）会议召开情况 1.召开时间： （1）现场会议时间：2025 年 9 月 16 日（星期二）下午 14 点。 （2）网络投票时间：2025 年 9 月 16 日。其中，通过深圳证券交易所交易系统进行网络 投票的具体时间为 2025 年 9 月 16 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进行网络投票的具体时间为 2025 年 9 月 16 日上午 9:15 至下午 15:00 的任意时间。 2.召开地点：一心堂药业集团股份有限公司会议室 股，占公司有表决权股份总数 574,128,225 股（注:截至本次股东会股权登记日，公司总股本 为 585,6 ...

Core Viewpoint - The article discusses the sudden decline of the pharmacy industry in China, highlighting the rapid closure of stores and the challenges faced by pharmacy owners and employees due to various market and regulatory changes [7][13][31]. Group 1: Industry Overview - In the past year, approximately 39,000 pharmacies closed nationwide, with a closure rate of 5.7%, and predictions suggest an additional 60,000 to 100,000 closures this year [13]. - The pharmacy industry, once considered a "golden track" for investment, has seen major players like Guoda Pharmacy and Shandong's Shuyupingmin Pharmacy struggling, with significant store closures and stock sell-offs by shareholders [16][31]. Group 2: Factors Contributing to Decline - The decline is attributed to three main factors: competition from community hospitals, the rise of online pharmacies, and tightening regulations on medical insurance reimbursements [34][41][49]. - Community hospitals have become popular among younger consumers, leading to a loss of clientele for pharmacies, particularly in the chronic disease segment [36][40]. - Online platforms have disrupted traditional pharmacy sales, offering lower prices and convenience, which has eroded the competitive edge of brick-and-mortar pharmacies [42][46]. Group 3: Financial Impact - Many listed pharmacy chains are experiencing significant profit declines, with net profit reductions starting at 60%, and some companies like Shuyupingmin facing potential losses of up to 220 million yuan [31][50]. - The shift in the market has forced many pharmacy owners to seek alternative employment, with some transitioning to factory work or food delivery services [22][23]. Group 4: Adaptation Strategies - Pharmacies are attempting to adapt by diversifying their offerings, such as incorporating health seminars and free health check-ups to build community ties and enhance customer loyalty [58][67]. - The future of the pharmacy industry is expected to focus on professional services and operational efficiency rather than mere expansion, with some pharmacies exploring AI-assisted consultations to improve service delivery [70].

Core Viewpoint - YXTT's stock price has shown fluctuations in recent trading sessions, with a year-to-date increase of 16.53% but a recent decline of 1.00% over the last five trading days [2] Group 1: Stock Performance - As of September 11, YXTT's stock price was 14.83 CNY per share, with a market capitalization of 8.685 billion CNY [1] - The stock has experienced a 2.05% decline during the trading session on September 11, with a trading volume of 41.0343 million CNY and a turnover rate of 0.69% [1] - Year-to-date, YXTT has appeared on the "Dragon and Tiger List" twice, with the most recent appearance on May 23, where it recorded a net buy of -4.0951 million CNY [2] Group 2: Financial Performance - For the first half of 2025, YXTT reported a revenue of 8.914 billion CNY, a year-on-year decrease of 4.20%, and a net profit attributable to shareholders of 250 million CNY, down 11.44% year-on-year [2] - Cumulative cash dividends since YXTT's A-share listing amount to 1.908 billion CNY, with 649 million CNY distributed over the past three years [3] Group 3: Shareholder Structure - As of June 30, 2025, YXTT had 33,900 shareholders, a decrease of 5.42% from the previous period, with an average of 11,712 circulating shares per shareholder, an increase of 5.73% [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 18.5744 million shares, a decrease of 21.1993 million shares from the previous period [3] - New entrants among the top ten shareholders include several funds, such as Guangfa Technology Innovation Mixed Fund and Invesco Great Wall Growth Star Stock A [3]

Core Points - YXTT announced the election of Guo Chunli as the employee representative director of the sixth board of directors, effective from the date of the employee representative assembly's approval until the end of the board's term [1] Group 1 - The employee representative assembly was held on September 5, 2025 [1] - Guo Chunli was democratically elected by the attending employee representatives [1]

一心为民 全心服务 董事会 2025 年 9 月 5 日 第 1 页 共 2 页 股票代码：002727 股票简称：一心堂 公告编号：2025-082 号 一心堂药业集团股份有限公司 关于选举第六届董事会职工代表董事的公告 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。 根据《中华人民共和国公司法》《上市公司章程指引》《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、法规、规范性文件及《公司章程》的有关规 定，公司于2025年9月5日召开了职工代表大会，经与会职工代表民主选举，选举郭春丽女士（简 历详见附件）为第六届董事会职工代表董事，任期自公司职工代表大会选举通过之日起至公司 第六届董事会任期届满之日止。 本次选举完成后，郭春丽女士由原公司第六届董事会非职工代表董事变更为公司第六届董 事会职工代表董事，公司第六届董事会构成人员不变，董事会中兼任公司高级管理人员以及由 职工代表担任的董事人数总计未超过公司董事总数的二分之一，符合有关法律法规、规范性文 件及《公司章程》的规定。 特此公告。 一心堂药业集团股份有限公司 一心为民 全心服 ...

Core Insights - The retail pharmacy industry is experiencing a significant transformation, with a shift from expansion to rapid contraction due to competition from online platforms like JD.com and Meituan [1][6][11] Industry Overview - In the first half of 2025, the retail pharmacy sector faced severe challenges, with four out of seven major chain pharmacies reporting revenue declines, while three maintained growth [1][3] - The overall growth of the retail pharmacy industry is slowing down, with a notable divergence in profitability among companies [4][5] Financial Performance - Major players include: - Dazhonglin: Revenue of 135.22 billion yuan, up 1.3%, net profit of 7.98 billion yuan, up 21.4% [3][4] - Yifeng Pharmacy: Revenue of 117.22 billion yuan, down 0.35%, net profit of 8.8 billion yuan, up 10.32% [3][4] - Laobaixing: Revenue of 107.74 billion yuan, down 1.51%, net profit of 3.98 billion yuan, down 20.86% [3][4] - Yixin Hall: Revenue of 89.14 billion yuan, down 4.20%, net profit of 2.50 billion yuan, down 11.44% [3][4] - Huaren Health: Revenue of 25.04 billion yuan, up 15.52%, net profit of 1.04 billion yuan, up 42.17% [3][4] Store Expansion and Market Dynamics - The industry is witnessing a trend of store closures, with major chains like Laobaixing, Yifeng, and Yixin Hall reducing their store counts significantly [6][11] - Approximately 3,000 pharmacies closed in the first quarter of 2025, indicating a significant market reshuffle [6] Competitive Pressures - The rise of online platforms has intensified competition, leading to price disparities in non-prescription drugs and health products, which has negatively impacted the average transaction value and gross margins of physical pharmacies [6][7] Regulatory and Cost Challenges - Recent policy changes, including healthcare reforms and procurement expansions, have severely impacted traditional profit models of pharmacies [7] - Rising operational costs, including rent and labor, along with expenses related to digital transformation, are increasing the financial burden on retail pharmacies [7] Strategic Responses - In response to online competition, pharmacies are diversifying their business models beyond just selling medications, venturing into health management and beauty products [9][10] - Initiatives include providing personalized medication guidance, health management services, and expanding into non-pharmaceutical product sales [10] Future Outlook - The retail pharmacy industry is expected to face more challenges and opportunities in the second half of 2025, with ongoing impacts from procurement policies and healthcare reforms [11]

Core Viewpoint - The overall supply surplus in the industry is leading to a decline in the average number of services per store, necessitating improvements in store output and efficiency [1] Group 1: Company Performance - In the first half of the year, the company reported a revenue of 8.914 billion yuan, a year-on-year decline of 4.20%, and a net profit of 250 million yuan, down 11.44% year-on-year [1] - The decline in revenue is attributed to a drop of over 2 percentage points in retail income, with significant decreases in distribution, traditional Chinese medicine raw material supply, and Chinese medicine pieces business [1] - The company opened 203 new stores and closed 241 stores in the first half of the year, resulting in a net decrease in store count to 11,372, marking the first net reduction in recent years [1] Group 2: Industry Trends - The retail pharmacy sector is entering a transformation phase, with a consensus that the growth inflection point occurred in Q4 2024, leading to a negative growth phase in 2025 [2] - By the first quarter of 2025, the total number of pharmacies in the country is expected to fall below 700,000, with a net decrease of approximately 3,000 pharmacies [2] Group 3: Store Transformation Initiatives - The company has initiated a store classification and upgrading process, planning for 70% of stores to transition to multi-category pharmacies and 30% to professional pharmacies [3] - The transformation includes enhancing the medical attributes of nearly one-third of the stores and introducing various product categories such as beauty, personal care, and health products [3] - The company aims to complete the transformation of 1,000 multi-category stores by 2025 and to establish a systematic upgrade of chronic disease medication and routine service systems by 2027 [4] Group 4: Financial Outlook and Cost Management - The company anticipates that the financial indicators will not see significant changes due to store transformations alone in 2025, as net profit will be influenced by multiple factors [4] - The company is focused on cost control and efficiency improvements, believing there is still room for optimization in sales and management expenses [4]

Core Viewpoint - The industry is facing an overall supply surplus, leading to a decline in the average number of services per store, necessitating improvements in store output and efficiency [1] Group 1: Financial Performance - In the first half of the year, the company reported a revenue of 8.914 billion yuan, a year-on-year decline of 4.20%, and a net profit attributable to shareholders of 250 million yuan, down 11.44% year-on-year [2] - The decline in revenue was attributed to a drop of over 2 percentage points in retail income, with significant decreases in distribution, Chinese herbal raw material supply, and Chinese herbal pieces business due to proactive business adjustments [2] - The company opened 203 new stores and closed 241, resulting in a net decrease in store count to 11,372, marking the first net reduction in recent years [2] Group 2: Store Transformation - The company has initiated a store classification and upgrading transformation, with plans for 70% of stores to transition to multi-category pharmacies and 30% to professional pharmacies, with nearly one-third of stores increasing their medical attributes [3] - As of the end of August, over 400 stores have undergone transformation, focusing on maintaining core treatment categories while introducing beauty, personal care, maternal and infant products, and functional foods [3] - The company is adjusting performance evaluation metrics for store staff to include non-pharmaceutical sales, customer repurchase rates, and service-related indicators [3] Group 3: Future Plans - The company aims to complete the transformation of 1,000 multi-category stores by 2025 and to finalize the category and scenario construction for all stores by 2027 [4] - The professional pharmacy segment is expected to be developed over the next 2 to 3 years, with a systematic upgrade of chronic disease medication and routine service systems by 2027 [4] - The company has noted that the current output per store for professional pharmacies is higher, but significant financial changes are not expected solely from store transformations due to various influencing factors [4]

Core Viewpoint - The pharmaceutical retail industry is undergoing a structural transformation, moving from extensive growth driven by scale expansion to a focus on quality optimization and efficiency improvement in 2025 [1][5]. Group 1: Performance Overview - In the first half of 2025, six major listed pharmacy chains showed a polarized performance, with Dazhenglin and Shuyupingmin achieving both revenue and net profit growth, while Laobaixing and Yixintang experienced declines [1][3]. - Dazhenglin reported the highest revenue among the chains at 13.522 billion yuan, a year-on-year increase of 1.33%, and a net profit of 798 million yuan, up 21.38% [2][3]. - Shuyupingmin's revenue and net profit were 4.881 billion yuan and 36.25 million yuan, respectively, reflecting increases of 1.30% and 49.83% [3]. - Laobaixing and Yixintang saw revenue declines of 1.51% and 4.20%, with net profits dropping by 20.86% and 11.44% respectively [4][3]. Group 2: Store Expansion Trends - Dazhenglin continued to expand its store count, adding 280 stores, although this growth rate has significantly slowed compared to previous years [1][7]. - Yixintang and Jianzhijia experienced net decreases in store numbers, with Yixintang losing 126 stores and Jianzhijia losing 22 [7]. - The overall trend indicates a shift from rapid expansion to focusing on the efficiency of existing stores, with many chains emphasizing the importance of franchise models for growth [7][8]. Group 3: Strategic Shifts and Innovations - The industry is moving towards diversification and specialization, with companies like Yixintang planning to develop 30% specialized pharmacies and 70% multi-category stores [8][9]. - Shuyupingmin is focusing on high-potential product categories and optimizing its product range while exploring various store formats [9]. - The implementation of O2O (Online to Offline) strategies is gaining traction, with significant sales contributions from O2O channels across multiple chains [10][11]. Group 4: Digital Transformation and AI Integration - Companies are increasingly adopting digital transformation strategies, with AI becoming a focal point for enhancing operational efficiency and customer service [11][12]. - Laobaixing has initiated AI development as a key strategic project, deploying various AI assistants to improve business operations [11][12]. - Dazhenglin has integrated AI tools to provide intelligent customer service and data analysis, enhancing its operational capabilities [12][13].