格隆汇8月11日丨药易购(300937.SZ)公布2025年半年度报告，上半年公司实现营业收入21.57亿元，同比 下降3.06%；归属于上市公司股东的净利润-761.44万元；归属于上市公司股东的扣除非经常性损益的净 利润-832.31万元；基本每股收益-0.08元。 ...

Core Viewpoint - The report highlights the financial performance and strategic initiatives of Sichuan Hezhong Yaoyigou Pharmaceutical Co., Ltd. for the first half of 2025, indicating a decline in revenue and net profit, while outlining the company's focus on expanding its healthcare ecosystem and digital transformation efforts [1][3][4]. Financial Performance - The company's revenue for the reporting period was approximately CNY 2.16 billion, a decrease of 3.06% compared to the same period last year [3]. - The net profit attributable to shareholders was a loss of CNY 7.61 million, representing a decline of 162.95% year-on-year [3]. - The basic earnings per share were reported at -0.08 CNY, down 161.54% from the previous year [3]. - Total assets increased by 1.91% to approximately CNY 1.75 billion compared to the end of the previous year [3]. Business Strategy - The company has been focusing on the outpatient pharmaceutical distribution market since its establishment in 2007, leveraging its technological capabilities and infrastructure to build a comprehensive health ecosystem [4][5]. - The strategy includes expanding upstream in the supply chain through product diversification, brand operation, and mergers and acquisitions to enhance pricing power [5][6]. - The company aims to develop a "golden product" ecosystem in specific disease areas by investing in ethnic medicine, traditional Chinese medicine, and medical devices [5][6][7]. Digital Transformation - The company is enhancing its digital capabilities by investing in AI-driven retail systems and establishing a comprehensive supply chain management platform [6][12]. - It has developed a digital medicine distribution business that includes B2B e-commerce and retail operations, covering over 20,000 pharmaceutical products [12][14]. - The company is also focusing on building a smart retail ecosystem that integrates online and offline channels to improve customer engagement and service delivery [15][20]. Brand Development - The company has established several key brands, including "Weige" and "Youshili," which have gained significant market traction in their respective categories [10][16]. - It is actively promoting traditional Chinese medicine brands and has secured exclusive distribution rights for several innovative products [7][8][10]. - The company is leveraging content marketing and digital platforms to enhance brand visibility and consumer engagement [10][17]. Investment and Partnerships - The company has formed strategic partnerships with various pharmaceutical manufacturers and research organizations to enhance its product offerings and market reach [7][8][19]. - It is also investing in health technology and wearable medical devices to support chronic disease management and health monitoring [9][11]. - The establishment of the "Jiansu Yigou Fund" aims to invest in high-quality pharmaceutical products and innovative sales channels, creating a synergistic effect with the company's existing operations [20].

Core Points - The company reported a decrease in revenue and a significant net loss for the first half of 2025 compared to the same period in the previous year [1][3] - The company plans not to distribute cash dividends or issue bonus shares [1] Financial Performance - Revenue for the reporting period was approximately CNY 2.16 billion, down 3.06% from CNY 2.23 billion in the previous year [1] - The net profit attributable to shareholders was a loss of approximately CNY 7.61 million, a decline of 162.95% from a profit of CNY 12.10 million in the same period last year [1] - The net profit after deducting non-recurring gains and losses was a loss of approximately CNY 8.32 million, down 198.14% from a profit of CNY 8.48 million [1] - The net cash flow from operating activities was a negative CNY 7.28 million, a decrease of 315.44% from a positive CNY 3.38 million [1] - Basic and diluted earnings per share were both negative CNY 0.08, compared to positive CNY 0.13 in the previous year [1] Assets and Equity - Total assets at the end of the reporting period were approximately CNY 1.75 billion, an increase of 1.91% from CNY 1.72 billion at the end of the previous year [3] - Net assets attributable to shareholders were approximately CNY 832.35 million, down 2.02% from CNY 849.54 million at the end of the previous year [3] Shareholder Information - The company had a total of 15,032 common shareholders at the end of the reporting period [3] - Li Yanfei is the controlling shareholder and actual controller of the company, holding 36.97% of the shares [4]

Group 1 - The board meeting of Sichuan Hezhong Yaoyigou Pharmaceutical Co., Ltd. was held on August 10, 2025, via communication voting, with all 9 directors present [1] - The board approved the preparation of the company's 2025 semi-annual report and its summary, ensuring the report accurately reflects the company's actual situation without any false records or misleading statements [1][2] - The voting results for the proposal were unanimous, with 9 votes in favor, 0 against, and 0 abstentions [2] Group 2 - The notice for the board meeting was communicated to all directors on July 31, 2025, through written and telephone methods [1] - The meeting was convened and presided over by Chairman Chen Shunjun, with senior management in attendance [1] - The proposal was reviewed and approved by the company's board audit committee prior to the board meeting [2]

Core Viewpoint - The company has announced the provision for impairment losses and the termination of recognition of certain deferred tax assets for the first half of 2025, reflecting a cautious approach in financial reporting and compliance with accounting standards [1][9]. Summary by Sections Impairment Provision Reasons and Overview - The company conducted impairment tests on various assets, including accounts receivable, goodwill, and inventory, resulting in a total impairment loss of 19,070,523.37 yuan for the first half of 2025, which includes credit impairment losses of 12,660,591.75 yuan and asset impairment losses of 6,409,931.62 yuan [1][2]. Details of Impairment Provision - The breakdown of the impairment provision is as follows: - Asset impairment losses: 6,409,931.62 yuan - Inventory write-down and contract performance cost impairment: 1,410,781.34 yuan - Goodwill impairment: 4,999,150.28 yuan - Credit impairment losses: 12,660,591.75 yuan - Bad debt loss on accounts receivable: 12,407,850.04 yuan - Bad debt loss on other receivables: 452,741.71 yuan - The impairment loss on accounts receivable exceeds 30% of the company's audited net profit for the last fiscal year, with an absolute amount greater than 10 million yuan [2][9]. Recognition Standards and Methods for Impairment - The company estimates the provision for bad debts based on credit risk characteristics and historical loss experience, applying different methods for accounts receivable, other receivables, and inventory [3][5][6]. Termination of Deferred Tax Assets - The company’s subsidiary, Sichuan Hezhong Yaoyigou Health Home Pharmacy Chain Co., Ltd., recognized a deferred tax asset of 4,084,055.73 yuan due to deductible losses. However, due to insufficient taxable income expected in the future, this amount was reversed, leading to a decrease in net profit attributable to the parent company by 2,164,549.54 yuan [8][9]. Impact of Impairment Provision and Deferred Tax Asset Termination - The impairment provision and the termination of deferred tax assets are expected to reduce the company's consolidated profit for the first half of 2025 and decrease the equity attributable to shareholders [9]. Reasonableness of the Impairment Provision and Deferred Tax Asset Termination - The actions taken by the company align with accounting standards and reflect a prudent approach, ensuring a fair representation of the company's financial status and asset values as of June 30, 2025 [9].

Core Viewpoint - Sichuan Hezhong Pharmaceutical Co., Ltd. is involved in various financial transactions with related parties, including non-operating fund occupation and operating fund exchanges, which may impact its financial health and operational efficiency [1][2][3]. Financial Transactions - The company has recorded significant amounts in accounts receivable, with figures reaching 2,146.89 million RMB and 2,516.26 million RMB in different periods, indicating a substantial volume of sales transactions [6]. - Other receivables from related parties include amounts such as 24.93 million RMB and 28.44 million RMB, reflecting ongoing financial interactions with associated enterprises [2][3]. Related Party Transactions - The company has engaged in various transactions with its controlling shareholders and affiliated enterprises, which include significant amounts in prepayments and accounts receivable, such as 81.35 million RMB and 397.26 million RMB respectively [3][6]. - The financial dealings with related parties also include operational services and rental agreements, which are essential for the company's business model [2][3]. Management and Governance - The company is under the leadership of Li Yanfei as the legal representative, with Zheng De as the head of accounting, indicating a structured management approach [6]. - Chen Shunjun, who has held key positions within the company, is set to transition to the role of chairman and general manager by July 30, 2025, which may influence future strategic directions [6].

Group 1 - The company, Yiyigou, reported a revenue of approximately 2.157 billion yuan for the first half of 2025, representing a year-on-year decrease of 3.06% [2] - The net profit attributable to shareholders of the listed company was a loss of approximately 7.61 million yuan [2] - The basic earnings per share showed a loss of 0.08 yuan [2]

四川合纵药易购医药股份有限公司（以下简称"公司"）第四届董事会第二 次会议于 2025 年 8 月 10 日以通讯表决方式召开。本次董事会会议的通知于 2025 年 7 月 31 日以书面、电话方式通知全体董事。会议应出席董事 9 名，实际出席 董事 9 名。本次董事会会议由董事长陈顺军先生召集并主持，公司高级管理人员 列席了本次会议。本次会议的召集、召开和表决程序符合国家有关法律、行政法 规、部门规章、规范性文件及《四川合纵药易购医药股份有限公司章程》的规定。 二、董事会会议审议情况 经与会董事审议，以投票表决方式审议了以下议案： 1、审议通过《关于公司<2025 年半年度报告>（全文及摘要）的议案》 公司严格按照相关法律、行政法规、中国证券监督管理委员会、深圳证券交 易所的规定，编制公司《2025 年半年度报告》及《2025 年半年度报告摘要》， 报告内容真实、准确、完整地反映了公司的实际情况，不存在任何虚假记载、误 导性陈述或者重大遗漏。 证券代码：300937 证券简称：药易购 公告编号：2025-039 四川合纵药易购医药股份有限公司 第四届董事会第二次会议决议公告 本公司及董事会全体成员保证信息披 ...

| | 重庆鑫斛药房连锁 | 公司持有其 5%股权并 | 应收账款 | 686.67 | 1,238.05 | -- | 731.20 | 1,193.52 | 出售商 品、提供 综合服务 | 经营性 往来 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 有限公司 | 委派一名董事 | 应收票据 | 2.86 | -- | -- | 2.86 | -- | 出售商品 | 经营性 | | | | | | | | | | | | 往来 | | | 杭州雕弧科技有限 公司 | 陈顺军控制的四川神 鸟世纪科技有限公司 | 其他应收款 | 0.21 | -- | -- | 0.21 | -- | 提供综合 管理服务 | 经营性 往来 | | | | 之控股子公司 | | | | | | | | | | | 总计 | | | 3,494.79 | 7,847.08 | -- | 6,574.03 | 4,767.84 | -- | -- | | 法定代表人：李燕飞 | | | | 主管会计工作负责人：郑德强 | | | | ...

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 四川合纵药易购医药股份有限公司（以下简称"公司"或"本公司"）根据 《深圳证券交易所上市公司自律监管指引第2号——创业板上市公司规范运作》 《企业会计准则》以及公司相关会计政策的规定，计提了信用减值损失及资产减 值损失、终止确认部分递延所得税资产，现将具体情况公告如下： 一、本次计提减值准备原因和情况概述 根据《企业会计准则》等相关规定的要求，为真实准确地反映公司截至2025 年6月30日的财务状况和经营成果，公司对截至2025年6月30日的应收账款、应收 票据、其他应收款、商誉、存货等各类资产进行了减值测试，对可能存在减值迹 象的资产计提减值准备。2025年上半年，公司计提减值损失共计19,070,523.37元， 其中信用减值损失12,660,591.75元，资产减值损失6,409,931.62元。 本次计提减值准备的范围和总金额如下： 股票代码：300937 股票简称：药易购 公告编号：2025-040 四川合纵药易购医药股份有限公司 关于公司 2025 年半年度计提减值准备及 终止确认部分递延所得税资产的公告 | 项目 | 2025 ...