国浩律师（上海）事务所 关于 山西仟源医药集团股份有限公司 2024 年年度股东大会 之 法律意见书 上海市静安区山西北路 99 号苏河湾中心 MT25-28 楼 邮编：200085 25-28/F, Suhe Centre, 99 North Shanxi Road, Jing'an District, Shanghai, China 电话/Tel: (+86)(21) 5234 1668 传真/Fax: (+86)(21) 5234 1670 网址/Website: http://www.grandall.com.cn 二〇二五年五月 国浩律师（上海）事务所 法律意见书 国浩律师（上海）事务所 关于山西仟源医药集团股份有限公司 2024 年年度股东大会 之 法律意见书 致：山西仟源医药集团股份有限公司 作为具有从事中国法律业务资格的律师事务所，国浩律师（上海）事务所（以 下简称"本所"）接受山西仟源医药集团股份有限公司（以下简称"公司"）的委托， 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国 证券法》（以下简称"《证券法》"）等法律法规及规范性文件的规定，指派本所 律师出席公司 ...

证券代码：300254 证券简称：仟源医药 公告编号：2025-024 山西仟源医药集团股份有限公司 关于召开2024年年度股东大会的提示性公告 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。 山西仟源医药集团股份有限公司（以下简称"公司"）于 2025 年 4 月 15 日 在巨潮资讯网发布了《关于召开 2024 年年度股东大会的通知》（公告编号： 2025-021）。公司定于 2025 年 5 月 7 日（星期三）以现场表决与网络投票相结合 的方式召开 2024 年年度股东大会。现将会议有关事项再次提示如下： 一、召开会议基本情况 1、股东大会届次：2024 年年度股东大会 2、股东大会的召集人：公司第五届董事会 3、会议召开的合法性及合规性：董事会召开本次股东大会会议符合《公司 法》、《证券法》、《深圳证券交易所创业板股票上市规则》、《上市公司股东 大会规则》等有关法律、法规、规则以及《公司章程》的规定。 4、会议召开日期和时间： 现场会议召开时间：2025 年 5 月 7 日（星期三）下午 2:30 网络投票时间为： （1）通过深圳证券交易所交易系统进 ...

Group 1: Financial Performance and Stock Management - The company has not considered stock buybacks or increases at this time, but will follow regulatory procedures if such plans arise [3] - The company acknowledges stock price fluctuations are influenced by various factors and aims to enhance operational performance to boost investor confidence [3] - The company reported a significant increase in revenue from its smoking cessation drug, with expectations for continued growth [4] Group 2: Product Development and Market Strategy - The company emphasizes the importance of research and development, with increasing investment in R&D over recent years [3] - New products are expected to be launched in the coming years, supported by funds raised through stock issuance in 2020 and 2021 [3] - The company plans to maintain a multi-channel marketing strategy to expand its market share and develop new business opportunities [4] Group 3: Cost Management and External Factors - To mitigate risks from raw material price fluctuations, the company will increase suppliers and improve production efficiency [2] - The impact of tariffs on the company's operations is minimal, as most business is domestic with only a small percentage of materials sourced from the U.S. [5] - The company does not anticipate new products entering the national procurement directory this year, as most of its main products are already included [5]

Investment Rating - The report maintains a "Buy" rating for the company [2][7]. Core Insights - The company's core product, smoking cessation medication, has shown impressive growth, with sales increasing by 172.7% year-on-year in 2024, contributing to 7.6% of total revenue [7]. - The company has effectively optimized various expense ratios, leading to improved profit margins, with a notable decrease in sales expense ratio [7]. - Despite challenges in other pharmaceutical products due to price reductions and a decline in newborn numbers affecting service revenue, the company is expected to continue its profit growth trajectory [7]. Financial Data and Profit Forecast - Total revenue for 2024 was 847 million yuan, with a year-on-year growth of 5.9%, while the net profit attributable to the parent company was 42 million yuan, up 67.5% [6][7]. - The company forecasts net profits of 91 million yuan, 135 million yuan, and 175 million yuan for 2025, 2026, and 2027 respectively, with corresponding growth rates of 114.7%, 48.6%, and 30.3% [6][7]. - The gross profit margin is projected to remain stable around 68% to 70% over the next few years, indicating strong profitability [6][7].

太平洋证券股份有限公司 关于山西仟源医药集团股份有限公司 2024 年度持续督导跟踪报告 | 保荐机构名称：太平洋证券股份有限公司 | 被保荐公司简称：仟源医药 | | --- | --- | | 保荐代表人姓名：欧阳凌 | 联系电话：021-61376535 | | 保荐代表人姓名：杨竞 | 联系电话：010-88321518 | 一、保荐工作概述 | 项目 | 工作内容 | | --- | --- | | 1.公司信息披露审阅情况 | | | （1）是否及时审阅公司信息 | 是 | | 披露文件 | | | （2）未及时审阅公司信息披 | 0 次 | | 露文件的次数 | | | 2.督导公司建立健全并有效执 | | | 行规章制度的情况 | | | （1）是否督导公司建立健全 | | | 规章制度（包括但不限于防止 关联方占用公司资源的制度、 | 是 | | 募集资金管理制度、内控制 | | | 度、内部审计制度、关联交易 | | | 制度） | | | （2）公司是否有效执行相关 | 是 | | 规章制度 | | | 3.募集资金监督情况 | | | （1）查询公司募集资金专户 | 12 次 | | ...

太平洋证券股份有限公司 关于山西仟源医药集团股份有限公司 向特定对象发行股票持续督导之保荐总结报告书 向特定对象发行股票情况： 1、2020 年度创业板以简易程序向特定对象发行股票 经中国证券监督管理委员会《关于同意山西仟源医药集团股份有限公司向特 定对象发行股票注册的批复》（证监许可〔2020〕2273 号）批复，山西仟源医药 集团股份有限公司（以下简称"仟源医药"、"上市公司"、"公司"）以简易程序 向 2 名特定对象发行人民币普通股（A 股）19,662,921 股，每股发行价格 7.12 元， 募集资金总额为人民币 139,999,997.52 元，扣除发行费用人民币 6,419,432.89 元 （不含增值税），募集资金净额为人民币 133,580,564.63 元。公司于 2020 年 9 月 29 日 收 到 扣 除 承 销 商 承 销 及 保 荐 费 用 5,000,000.00 元 后 的 募 集 资 金 134,999,997.52 元。上述募集资金到位情况业经立信会计师事务所（特殊普通合 伙）验证，出具了信会师报字[2020]第 ZA15700 号验资报告。此次发行证券于 2020 年 ...

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。 2025 年 4 月 18 日，山西仟源医药集团股份有限公司（以下简称"公司"） 召开了第五届董事会第二十七次会议和第五届监事会第二十次会议，审议通过了 《关于公司<2025 年第一季度报告>的议案》。 为使投资者全面了解公司的经营成果、财务状况，公司《2025 年第一季度 报告》于 2025 年 4 月 19 日在中国证监会指定的创业板信息披露网站巨潮资讯网 披露，敬请广大投资者注意查阅。 证券代码：300254 证券简称：仟源医药 公告编号：2025-022 山西仟源医药集团股份有限公司 2025年第一季度报告披露提示性公告 二○二五年四月十九日 特此公告 山西仟源医药集团股份有限公司 董事会 ...

Financial Performance - The company's revenue for Q1 2025 was ¥181,736,278.48, a decrease of 4.09% compared to ¥189,493,463.31 in the same period last year[5] - Net profit attributable to shareholders was ¥10,390,380.78, down 43.17% from ¥18,284,352.36 year-on-year[5] - The net profit after deducting non-recurring gains and losses was ¥2,790,407.80, a decline of 82.48% compared to ¥15,923,806.26 in the previous year[5] - Basic earnings per share decreased to ¥0.0430, down 43.20% from ¥0.0757 year-on-year[5] - Total operating revenue for the current period is ¥181,736,278.48, a decrease of 4.0% from ¥189,493,463.31 in the previous period[22] - Net profit for the current period is ¥19,195,755.49, a decline of 23.2% compared to ¥24,945,683.88 in the previous period[23] - Earnings per share (basic) decreased to ¥0.0430 from ¥0.0757, reflecting a 43.0% drop[24] Cash Flow - The net cash flow from operating activities was ¥5,157,545.01, representing an 85.47% decrease from ¥35,485,717.14 in the same period last year[5] - Cash flow from operating activities generated ¥5,157,545.01, significantly lower than ¥35,485,717.14 in the previous period[25] - The net cash flow from investing activities was -¥69,573,300, a decrease of 49.21% compared to the previous year[11] - The net cash flow from financing activities was $1,917,133.53, a decrease from $11,056,333.01, suggesting reduced net financing activity[26] - The net cash increase for the period was -$62,498,612.22, contrasting with a minor decrease of -$85,493.74 in the previous period, highlighting cash flow challenges[26] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,483,632,025.33, a decrease of 4.14% from ¥1,547,725,078.17 at the end of the previous year[5] - Total current assets decreased from CNY 500,868,333.78 to CNY 447,370,510.46, a reduction of approximately 10.65%[19] - Total liabilities decreased from CNY 570,805,532.18 to CNY 466,210,002.45, a reduction of approximately 18.31%[20] - Total liabilities increased to ¥959,415,309.48 from ¥949,545,094.09, indicating a slight rise of 0.9%[21] - Total equity decreased to ¥524,216,715.85 from ¥598,179,984.08, a decline of 12.4%[21] Shareholder Information - Total number of common shareholders at the end of the reporting period is 21,388[13] - The largest shareholder, Weng Zhangguo, holds 6.35% of shares, totaling 15,772,409 shares[13] - The second largest shareholder, Zhao Qun, holds 5.52% of shares, totaling 13,701,892 shares[13] - The third largest shareholder, Huang Lequn, holds 2.20% of shares, totaling 5,465,060 shares[13] - The top 10 shareholders collectively hold significant stakes, with the largest being 6.35%[13] - The report indicates no changes in the top 10 shareholders due to securities lending or borrowing[14] - There are no preferred shareholders or changes in restricted shares reported[14] Expenses - Total operating costs decreased to ¥173,536,336.36, down 1.4% from ¥176,063,821.72[22] - The company reported a decrease in sales expenses to ¥69,071,111.47 from ¥66,773,310.16, an increase of 3.9%[22] - Research and development expenses rose to ¥12,891,525.28, up from ¥12,048,160.13, reflecting a growth of 7.0%[22] Future Plans and Changes - The company plans to revise its articles of association and waive the preemptive rights for a new shareholder[17] - The company will publish further announcements regarding these matters on the designated information disclosure website[17] - The company plans to implement new accounting standards starting in 2025, which may impact future financial reporting[28] Audit and Reliability - The company did not undergo an audit for the first quarter report, which may affect the reliability of the financial data presented[27]

仟源医药（300254）公告，2025年第一季度营收为1.82亿元，同比下降4.09%；净利润为1039.04万元， 同比下降43.17%。 ...

Revenue and Profit - The total operating revenue of QianYuan Pharmaceutical reached 847 million yuan in 2024, an increase of 5.92% year-on-year [2] - The net profit attributable to shareholders was 42.19 million yuan, up 67.45% year-on-year [2] - The non-recurring net profit was 25.23 million yuan, a significant increase of 232.73% year-on-year [2] - However, the net profit attributable to shareholders in the fourth quarter was -1.96 million yuan, a decline of 105.05% year-on-year, indicating quarterly volatility [2] Profitability - The company's gross margin was 66.91%, a decrease of 1.3% year-on-year [3] - The net profit margin was 8.83%, an increase of 44.85% year-on-year, indicating progress in cost control and efficiency improvement [3] Cost Control - Total selling, administrative, and financial expenses amounted to 444 million yuan, accounting for 52.47% of revenue, a decrease of 13.17% year-on-year [4] - The significant reduction in financial expenses (-46.53%) was mainly due to the cessation of financial expense accruals related to financial liabilities starting from July 2023 [4] Cash Flow and Asset Status - The net cash flow from operating activities increased by 87.6% year-on-year, primarily due to a reduction in tax payments, expenses, and cash paid for goods and services [5] - The operating cash flow per share was 0.29 yuan, an increase of 82.54% year-on-year [5] - However, accounts receivable rose to 148 million yuan, a year-on-year increase of 37.74%, which may exert pressure on the company's cash flow [5] Capital Structure and Debt - Interest-bearing debt amounted to 563 million yuan, an increase of 47.39% year-on-year [6] - The interest-bearing asset-liability ratio was 28.02%, indicating an increased debt burden [6] - Short-term borrowings increased by 89.74%, and long-term payables rose by 1718.78%, reflecting an increase in bank loans and payable equity repurchase amounts at year-end [6] Summary - QianYuan Pharmaceutical achieved significant growth in 2024, particularly in net profit attributable to shareholders and non-recurring net profit [7] - However, the substantial increase in accounts receivable and rising debt levels warrant attention [7] - The company needs to strengthen cash flow and debt management while maintaining growth to ensure sustainable development [7]