一、募集资金基本情况 （一）募集资金到位情况 经中国证券监督管理委员会《关于同意漱玉平民大药房连锁股份有限公司向不特定对 象发行可转换公司债券注册的批复》（证监许可〔2022〕2869 号）核准，公司向不特定对 象发行面值总额 8.00 亿元可转换公司债券，期限 6 年，每张面值 100 元，共计 800.00 万 张，募集资金总额为人民币 800,000,000.00 元，扣除发行费用人民币 9,415,851.41 元（不 含增值税）后，实际募集资金净额为人民币 790,584,148.59 元。 | 证券代码：301017 | 证券简称：漱玉平民 | 公告编号：2025-074 | | --- | --- | --- | | 债券代码：123172 | 债券简称：漱玉转债 | | 漱玉平民大药房连锁股份有限公司 关于 2025 年半年度募集资金存放与使用情况的专项报告 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、 误导性陈述或者重大遗漏。 根据《上市公司募集资金监管规则》及《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》等有关规定，漱玉平民大药房连锁 ...

| 证券代码：301017 | 证券简称：漱玉平民 | 公告编号：2025-075 | | --- | --- | --- | | 债券代码：123172 | 债券简称：漱玉转债 | | 漱玉平民大药房连锁股份有限公司 关于会计政策变更的公告 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、 误导性陈述或者重大遗漏。 本次会计政策变更是漱玉平民大药房连锁股份有限公司（以下简称"公司"）根据中华 人民共和国财政部（以下简称"财政部"）修订的相关会计准则及规定要求进行的变更，不 属于公司自主变更会计政策的情形，不会对公司当期的财务状况、经营成果和现金流量产 生重大影响。本次会计政策变更是公司根据法律法规和国家统一的会计制度要求进行的变 更，无需提交公司董事会和股东大会审议批准。 二、本次会计政策变更的内容 本次会计政策变更前，公司执行财政部发布的《企业会计准则——基本准则》和各项 具体会计准则、企业会计准则应用指南、企业会计准则解释公告以及其他相关规定执行。 （三）变更后公司采取的会计政策 本次会计政策变更后，公司将按照财政部发布的《企业会计准则解释第 18 号》要求执 行。除上述政策变更 ...

二、监事会会议审议情况 1、审议通过《关于公司<2025 年半年度报告>及其摘要的议案》 监事会认为，《2025 年半年度报告》全文及其摘要真实反映了公司 2025 年半年度的财 务状况和经营成果，编制程序符合相关法律法规、中国证券监督管理委员会和深圳证券交 易所的相关规定，报告内容真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏。 | 证券代码：301017 | 证券简称：漱玉平民 | 公告编号：2025-071 | | --- | --- | --- | | 债券代码：123172 | 债券简称：漱玉转债 | | 表决结果：同意 3 票；反对 0 票；弃权 0 票。 漱玉平民大药房连锁股份有限公司 第四届监事会第六次会议决议公告 本公司及监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、 误导性陈述或者重大遗漏。 一、监事会会议召开情况 漱玉平民大药房连锁股份有限公司（以下简称"公司"）第四届监事会第六次会议于 2025 年 8 月 27 日在公司会议室以现场表决的方式召开。会议通知及会议资料已于 2025 年 8 月 16 日以书面、电子邮件等方式送达各位监事。会议由监事会主席孟鹏女 ...

Financial Performance - The company's operating revenue for the first half of 2025 was RMB 4,881,231,520.65, representing a 1.30% increase compared to RMB 4,818,451,965.65 in the same period last year[19]. - Net profit attributable to shareholders increased by 49.83% to RMB 36,250,872.12 from RMB 24,195,275.81 year-on-year[19]. - The net cash flow from operating activities surged by 3,456.55% to RMB 137,846,170.86, compared to RMB 3,875,842.39 in the previous year[19]. - Basic and diluted earnings per share both rose by 50.00% to RMB 0.09 from RMB 0.06 in the same period last year[19]. - Total assets at the end of the reporting period reached RMB 9,841,614,859.75, marking a 6.13% increase from RMB 9,273,192,681.97 at the end of the previous year[19]. - The net assets attributable to shareholders increased by 1.23% to RMB 2,065,441,560.88 from RMB 2,040,366,110.44 at the end of the previous year[19]. - The company reported a significant increase in non-recurring gains and losses, totaling RMB 4,705,467.96 after tax adjustments[24]. - The company’s gross profit margin improved by 3.45% compared to the second half of 2024[35]. - The company reported a total revenue of 1,800 million for the quarter, reflecting a significant increase compared to the previous period[135]. - The net profit for the first half of 2025 was ¥30,524,685.35, compared to ¥16,037,713.14 in the first half of 2024, indicating a significant increase of approximately 90%[186]. Cash Flow and Investments - Cash used in investing activities saw a drastic decline of 2,116.19%, amounting to approximately -¥576.48 million, primarily due to increased acquisition payments[61]. - The net cash position decreased by 759.62% to approximately -¥307.15 million, attributed to higher acquisition payments during the reporting period[61]. - The company reported a significant increase in cash generated from operating activities, rising by 3,456.55% to approximately ¥137.85 million from ¥3.88 million in the previous year[61]. - The net cash flow from investing activities for the first half of 2025 is -CNY 576,478,537.73, compared to a positive CNY 28,592,507.16 in the same period of 2024, indicating increased investment outflows[192]. - The cash flow from financing activities in the first half of 2025 is CNY 131,480,134.67, a significant increase from CNY 14,096,753.65 in the previous year[192]. Operational Efficiency - The company optimized its cost structure, achieving a year-on-year improvement in the expense-to-sales ratio by 1.16%[35]. - The company has implemented a centralized procurement model combined with regional procurement to meet store operational needs[32]. - The company is implementing an SRM system to enhance supplier management and business integration, expected to be fully operational by the end of 2025[47]. - The company has established a comprehensive training system, achieving high qualification rates for new employee training and enhancing the capabilities of the management team[58]. - The company has optimized its accounts receivable management, resulting in a 3.01% decrease in accounts receivable to approximately ¥1.05 billion[68]. Market Expansion and Strategy - The company plans to diversify its product offerings, including health products, healthcare products, and medical devices, to meet consumer demand[35]. - The company is exploring diversified development by transforming from traditional pharmacies to health experience centers, expanding product categories and store types[56]. - The company is adopting a "new openings + mergers + cooperation + franchising" strategy to expand its store network, aiming to deepen penetration in mature areas and establish brand recognition in emerging markets[96]. - The company is actively exploring multi-channel sales systems and innovative pharmacy formats to enhance its comprehensive competitiveness[96]. - The company has plans to continue expanding its market presence, focusing on new product development and technological advancements to drive future growth[199]. Risk Management - The company is facing various risks, including macroeconomic and market risks, which are detailed in the management discussion section[5]. - The company emphasizes the importance of investor awareness regarding potential investment risks associated with forward-looking statements[5]. - The company has developed a risk control platform covering 17 cities and 22 companies, with a risk rule library comprising over 30,000 rules[54]. - The company is facing risks from industry policy changes and market competition, necessitating a robust policy tracking and compliance system[94][95]. - The company has established a research group to analyze policy changes and ensure compliance with evolving regulations in the pharmaceutical retail industry[94]. Shareholder and Equity Information - The company has not distributed cash dividends or bonus shares for the half-year period, nor has it increased share capital from capital reserves[103]. - A total of 1.63205 million shares of restricted stock have been canceled due to unfulfilled performance conditions and changes in the status of incentive recipients[104]. - The total number of common shareholders at the end of the reporting period was 14,100[151]. - Li Wenjie holds 35.17% of shares, totaling 142,560,000 shares, with 58,100,000 shares pledged[151]. - The company has 162,000,000 restricted shares, representing 39.97% of total shares, which remain unchanged during the reporting period[148]. Corporate Social Responsibility - The company has conducted 31 public welfare activities during the reporting period, donating over 1.17 million yuan to social causes[106]. - The company launched the "Big Tree Project" in collaboration with Qilu Evening News and 21 industrial brands, aiming to support underprivileged students in Shandong Province over the next three years[107]. - The company has been actively involved in rural revitalization efforts, supporting improvements in rural medical conditions and empowering farmers through e-commerce initiatives[108]. - The company has established a sustainable public welfare ecosystem centered around the "Shuyu Public Welfare Home" platform, enhancing its brand reputation and social influence[107]. Future Outlook - The company has provided a future outlook with a revenue guidance of 2,500 million for the next quarter, representing a 15% increase from the current quarter[135]. - New product launches are expected to contribute an additional 500 million in revenue over the next fiscal year[135]. - Market expansion plans include entering three new regions, projected to increase market share by 10%[135]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 1,800 million allocated for potential deals[135].

Market Overview - The pharmaceutical commercial sector experienced a decline of 2.71% on August 27, with Saily Medical leading the drop [1] - The Shanghai Composite Index closed at 3800.35, down 1.76%, while the Shenzhen Component Index closed at 12295.07, down 1.43% [1] Individual Stock Performance - Saily Medical (603716) closed at 33.15, down 8.93% with a trading volume of 484,700 shares and a transaction value of 1.671 billion [1] - Other notable declines included HeLiang China (603122) down 5.15%, YaoYigou (300937) down 5.10%, and Guofa Shares (600538) down 4.98% [1] - The overall net outflow of main funds from the pharmaceutical commercial sector was 543 million, while retail investors saw a net inflow of 361 million [1] Fund Flow Analysis - Jiuzhoutong (600998) had a main fund net inflow of 11.8 million, accounting for 18.23% of its total [2] - Dacilin (603233) saw a main fund net inflow of 29.97 million, representing 15.70% [2] - The overall trend indicates a mixed sentiment with main funds withdrawing while retail investors are actively buying [2]

Core Viewpoint - The company, Shuyupingmin, announced that it and its subsidiaries do not provide guarantees to off-balance sheet entities, indicating a strong financial position without contingent liabilities [1] Summary by Relevant Categories Company Guarantees - Shuyupingmin and its subsidiaries have no overdue guarantees [1] - There are no litigation-related guarantees affecting the company [1] - The company is not subject to any losses due to guarantees resulting in adverse judgments [1]

| 证券代码：301017 | 证券简称：漱玉平民 | 公告编号：2025-069 | | --- | --- | --- | | 债券代码：123172 | 债券简称：漱玉转债 | | 漱玉平民大药房连锁股份有限公司 关于为全资孙公司提供担保的进展公告 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、 误导性陈述或者重大遗漏。 漱玉平民大药房连锁股份有限公司（以下简称"公司"）于 2025 年 1 月 21 日召开第 四届董事会第三次会议，于 2025 年 2 月 6 日召开 2025 年第一次临时股东大会，审议通过 了《关于 2025 年度公司及子公司向银行等机构申请综合授信额度及提供担保的议案》，同 意公司及子公司 2025 年度对合并报表范围内各级子公司提供的担保额度为人民币 167,011.00 万元。其中公司向全资孙公司漱玉平民医药（福建）有限公司（以下简称"福 建医药"）提供不超过 4,000 万元的担保额度。担保额度有效期自 2025 年第一次临时股东 大会审议通过之日起十二个月。具体内容详见公司于 2025 年 1 月 22 日和 2025 年 2 月 6 日 分别在 ...

Group 1 - The core viewpoint of the articles highlights the financial struggles of the company, with significant losses and a mass exit of investors, including the founding team who profited substantially from their investments [1][2] - The company reported a net profit loss of 189 million yuan in 2024, marking a year-on-year decline of 241.9%, which is its first annual loss since going public [2] - The company has accelerated store closures, with 119 stores shut down in the first quarter of 2025, surpassing the total for the entire year of 2024, and daily sales per square meter have decreased by 12% compared to 2021 [2] Group 2 - The company has faced a significant decline in its operational environment, with the number of stores increasing from under 300 in 2016 to 9,035 in 2024, but now facing challenges due to shrinking personal accounts in medical insurance and a decrease in purchasing power [2] - The company attempted to manipulate financial results by extending depreciation periods to create a profit of 27.45 million yuan, raising concerns among investors about the sustainability of its business model [2] - The industry is undergoing a harsh consolidation phase, with the departure of the founding team leaving behind operational burdens and prompting a reevaluation of the previously aggressive expansion strategy [2]

Core Insights - The pharmaceutical commercial sector experienced a slight increase of 0.05% on August 22, with Saily Medical leading the gains [1] - The Shanghai Composite Index closed at 3825.76, up 1.45%, while the Shenzhen Component Index closed at 12166.06, up 2.07% [1] Group 1: Stock Performance - Saily Medical (603716) saw a closing price of 31.52, with a significant increase of 10.02% and a trading volume of 614,300 shares, resulting in a transaction value of 1.861 billion yuan [1] - Guofang Co. (600538) closed at 6.55, up 2.18%, with a trading volume of 218,500 shares [1] - Runda Medical (603108) closed at 18.35, up 1.94%, with a trading volume of 303,900 shares [1] - Other notable stocks include Jiuzhoutong (600998) with a slight increase of 0.55% and Yifeng Pharmacy (603939) with a minimal increase of 0.20% [1] Group 2: Capital Flow - The pharmaceutical commercial sector saw a net inflow of 363 million yuan from main funds, while retail investors experienced a net outflow of 114 million yuan [2] - Speculative funds recorded a net outflow of 249 million yuan [2]

齐鲁晚报·齐鲁壹点记者 管悦 8月19日，2025山东民营企业百强系列榜单发布会暨第二届临商大会开幕式在临沂市举行。现场，2025 山东民营企业百强系列榜单发布，包含2025山东民营企业200强、2025山东民营企业创新100强、2025山 东民营企业服务业100强、2025山东民营企业吸纳就业100强四个榜单。 据悉，2025山东民营企业百强系列榜单发布活动由省工商联、省发展改革委、省科技厅、省人力资源社 会保障厅、省农业农村厅、省商务厅、省税务局、省市场监管局、省总商会共同组织开展。活动启动以 来，按规定程序完成了企业申报、各市推荐、专家审核、征求成员单位意见等程序，最终形成2025年山 东民营企业百强系列榜单入围名单。 与2024山东民营企业200强榜单相比，2025山东民营企业200强公示名单中，前三名企业未有变化，魏桥 集团蝉联山东民营企业200强榜首，信发集团、南山集团分别位列第二、第三。 从济南企业上榜情况看，济南共24家企业登榜2025年山东民营企业200强，相比2024年增加3家企业。 其中，有11家济南民营企业入围前一百名，分别为山东九羊集团、齐鲁制药集团、山东大熊投资控股集 团有限公司、 ...