Core Viewpoint - Luyuan Pharmaceutical (002788.SZ) reported a slight increase in revenue for the first three quarters of 2025, but net profit experienced a significant decline compared to the previous year [1] Financial Performance - The company achieved an operating revenue of 15.855 billion yuan, representing a year-on-year growth of 2.87% [1] - The net profit attributable to shareholders of the listed company was 220 million yuan, reflecting a year-on-year decrease of 14.64% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was also 220 million yuan, showing a decline of 15.14% year-on-year [1]

证券代码：002788 证券简称：鹭燕医药 公告编号：2025-025 鹭燕医药股份有限公司 第六届董事会第八次会议决议公告 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。 （二）《鹭燕医药股份有限公司第六届董事会审计委员会第九次会议纪要》。 特此公告。 鹭燕医药股份有限公司董事会 2025 年 10 月 27 日 鹭燕医药股份有限公司（以下简称"公司"）于 2025 年 10 月 21 日以邮件形式发出第六 届董事会第八次会议（以下简称"董事会"）通知，会议于 2025 年 10 月 24 日以现场与通讯 相结合的方式举行；本次会议由董事长吴金祥先生召集和主持；出席本次会议的董事共 7 人，占公司董事总数的 100%。本次会议的召集和召开程序符合《公司法》和《公司章程》 的有关规定。 二、董事会会议审议情况 （一）审议《关于公司 2025 年第三季度报告的议案》； 表决结果：以同意 7 票、反对 0 票、弃权 0 票、回避 0 票通过议案，同意票数占全体有 表决权票数比例 100%。 《鹭燕医药股份有限公司 2025 年第三季度报告》与本决议同日于《证券日报 ...

Financial Performance - The company's revenue for Q3 2025 reached ¥5,455,376,481.11, representing a year-on-year increase of 6.81%[5] - Net profit attributable to shareholders decreased by 2.74% to ¥65,136,647.75 for the quarter, and year-to-date net profit fell by 14.64% to ¥219,666,531.25[5] - The basic earnings per share remained stable at ¥0.17, while the diluted earnings per share were not applicable[5] - Total operating revenue for the current period reached ¥15,855,458,775.65, an increase from ¥15,413,532,406.63 in the previous period, representing a growth of approximately 2.87%[22] - Net profit for the current period was ¥218,463,133.91, down from ¥257,901,103.73 in the previous period, reflecting a decrease of approximately 15.30%[24] - Basic earnings per share decreased to ¥0.57 from ¥0.66, indicating a decline of about 13.64%[24] - The total comprehensive income for the current period was ¥218,260,721.96, down from ¥257,833,211.58 in the previous period, a decrease of approximately 15.34%[24] Assets and Liabilities - Total assets increased by 3.19% to ¥13,042,285,874.25 compared to the end of the previous year[5] - The total assets of Luyan Pharmaceutical Co., Ltd. as of September 30, 2025, amounted to 13.0423 billion yuan, an increase from 12.6386 billion yuan in the previous period[20] - The total liabilities of the company rose to 9.7785 billion yuan, compared to 9.4467 billion yuan previously, indicating an increase of approximately 3.5%[20] - The company's cash and cash equivalents decreased from 576.8 million yuan to 459.2 million yuan, representing a decline of approximately 20.4%[18] - Short-term borrowings increased from 3.8747 billion yuan to 4.0373 billion yuan, reflecting a rise of about 4.2%[20] - The company's inventory decreased from 2.8648 billion yuan to 2.7494 billion yuan, a reduction of about 4%[18] - The company's long-term borrowings decreased significantly from 648.4 million yuan to 344.4 million yuan, a decline of approximately 46.8%[20] Cash Flow - Cash flow from operating activities for the year-to-date period was ¥329,702,878.75, reflecting a 10.74% increase[5] - Cash flow from operating activities generated a net cash inflow of ¥329,702,878.75, compared to ¥297,724,410.97 in the previous period, an increase of approximately 10.74%[25] - Cash flow from investing activities resulted in a net outflow of ¥193,497,945.16, improving from a net outflow of ¥301,756,472.35 in the previous period[26] - Cash flow from financing activities showed a net outflow of ¥242,673,248.35, worsening from a net outflow of ¥121,749,663.93 in the previous period[27] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 22,747, with the largest shareholder holding 35.53% of the shares[11] - The company reported a total equity attributable to shareholders of ¥3,240,052,429.22, an increase of 2.46% from the previous year-end[5] - The total equity attributable to the parent company increased from 3.1622 billion yuan to 3.2401 billion yuan, showing a growth of approximately 2.5%[20] Legal Matters - The company has initiated legal proceedings against Guizhou Mingrun Construction Engineering Co., Ltd. for compensation of 39.6973 million yuan, with a court ruling awarding 31.6283 million yuan[15] - The company plans to continue pushing for the fulfillment of obligations related to the execution cases involving multiple guarantors[15] Impairment and Gains - The company reported a significant reduction in credit impairment losses, decreasing by 46.82% to -¥9,317,325.88 compared to the same period last year[9] - Non-recurring gains and losses for the quarter totaled -¥1,532,244.96, indicating a negative impact on overall profitability[6] - The company reported a tax expense of ¥69,793,093.78, compared to ¥75,903,320.59 in the previous period, indicating a reduction of about 8.30%[24]

Core Viewpoint - Luyuan Pharmaceutical (002788) plans to invest approximately 600 million yuan in the construction of two hotels, partnering with Hilton for management and branding, aiming to enhance its healthcare service ecosystem [1] Group 1: Investment and Development - The company’s wholly-owned subsidiary, Luyuan Jiawen (Xiamen) Investment Development Co., Ltd., will oversee the hotel projects [1] - The investment will focus on creating hotels that offer differentiated competitive advantages, supporting the company's healthcare and wellness initiatives [1] - The hotels will serve as a hub to incubate related businesses in medical rehabilitation, health maintenance, elderly care, sports, and cultural tourism [1] Group 2: Management and Branding - Hilton Enterprises Management (Shanghai) Co., Ltd. has been contracted for the management and branding of the hotels under the "Hilton" and "Tempo by Hilton" brands [1] - The collaboration with Hilton is expected to enhance the brand image and long-term development of the projects [1] Group 3: Financial Structure - To facilitate the operation of the hotel projects, Luyuan Jiawen will establish two wholly-owned subsidiaries with registered capital of 10 million yuan and 20 million yuan respectively [1]

Core Viewpoint - Luyuan Pharmaceutical's subsidiary, Luyuan Jiawen, successfully acquired land use rights for a construction project in Xiamen, aiming to develop a headquarters project focused on healthcare and wellness industries [1] Group 1: Project Development - Luyuan Jiawen plans to invest approximately 600 million RMB in the construction of two hotels as part of the headquarters project [1] - The project aims to create a differentiated competitive advantage in the healthcare sector, including medical rehabilitation, health maintenance, and wellness services [1] Group 2: Business Strategy - The company intends to establish two wholly-owned subsidiaries for hotel management, with registered capital of 10 million RMB and 20 million RMB respectively, maintaining a 100% ownership stake [1] - Luyuan Jiawen will collaborate with an internationally recognized hotel brand, Hilton, to manage daily operations of the hotels [1]

Group 1 - Lu Yan Pharmaceutical announced the convening of its sixth board meeting on September 22, 2025, to discuss the proposal for establishing a wholly-owned subsidiary [1] - The meeting included the review of various documents related to the company's strategic decisions [1] Group 2 - The total market capitalization of A-shares surpassed 116 trillion yuan on the anniversary of the "9.24" event, indicating significant growth in the Chinese capital market [1] - Four major reforms are reshaping the new ecosystem of the Chinese capital market, reflecting a transformative period for the industry [1]

Core Viewpoint - Luyuan Pharmaceutical's subsidiary plans to invest in two hotels to enhance its health service value chain through differentiated competitive advantages [1] Group 1: Investment Plans - Luyuan Pharmaceutical's subsidiary, Luyuan Jiawen (Xiamen) Investment Development Co., Ltd., intends to construct two hotels [1] - The hotels will serve as a hub to extend the health service value chain [1] Group 2: Partnership and Management - Luyuan Jiawen has reached an agreement with Hilton Enterprises Management (Shanghai) Co., Ltd. for hotel management [1] - The agreement allows Luyuan Jiawen to use the "Hilton" and "TempobyHilton" brands in the proposed hotels [1] - Specific management responsibilities for the hotels will be handled by Hilton Enterprises [1]

Core Viewpoint - Luyuan Pharmaceutical (002788.SZ) aims to enhance its healthcare ecosystem by investing approximately 600 million RMB in the construction of two hotels, which will serve as a foundation for various health-related businesses [1] Investment and Development - The investment of about 600 million RMB will be used to build two hotels that will have differentiated competitive advantages [1] - The hotels will support the incubation of businesses in medical rehabilitation, health maintenance, elderly care, sports, and cultural tourism, thereby extending the value chain of health services [1] Company Structure and Management - Luyuan Jiawen, a subsidiary of Luyuan Pharmaceutical, plans to establish two wholly-owned subsidiaries for hotel management, funded by its own capital [1] - The registered capital for the two hotel management companies will be 10 million RMB and 20 million RMB respectively, with Luyuan Jiawen holding a 100% ownership stake in both [1] - The company intends to introduce a well-known international hotel brand (Hilton) and management team to oversee daily operations of the hotels [1]

Core Viewpoint - Luyuan Pharmaceutical (002788.SZ) announced plans to invest approximately 600 million RMB to develop two hotels, aiming to create a healthcare ecosystem focused on medical rehabilitation and wellness services [1] Investment and Development - The investment will be utilized to build two hotels that will serve as a foundation for expanding into healthcare-related businesses such as rehabilitation, wellness, elderly care, sports, and cultural tourism [1] - Luyuan Jiawen, a subsidiary, will establish two wholly-owned hotel management companies to oversee the operations of the hotels, with registered capital of 10 million RMB and 20 million RMB respectively [1] Strategic Partnerships - The company plans to collaborate with an internationally recognized hotel brand, Hilton, to manage the daily operations of the hotels, enhancing the competitive advantage of the project [1]

Core Viewpoint - Luyuan Pharmaceutical (002788.SZ) announced the signing of two hotel management agreements with Hilton Enterprises Management (Shanghai) Co., Ltd, allowing the use of "Hilton" and "TempobyHilton" brands for its wholly-owned subsidiary Luyuan Jiawen [1] Group 1 - The agreements will be effective until the 31st of December of the 20th full calendar year after the opening date [1] - The company stated that this collaboration will not have a significant adverse impact on its current financial and operational status [1] - There are potential risks associated with the long duration of the agreement and unforeseen circumstances [1]