上海医药集团股份有限公司 证券代码：601607 证券简称：上海医药 公告编号：临2026-013 附件：上海医药第八届董事会职工代表董事简历 赵勇先生，1972 年 6 月出生，复旦大学国际政治系法学硕士，长江商学院高级 工商管理研究生毕业。现为本公司党委副书记、副总裁，并在本公司附属公司兼 任董事等职务。曾任上海兰卫医学检验所股份有限公司副总裁、上海兰卫投资有 限公司副总裁，上海卫生计生委副主任，上海人口计生委副主任、纪委书记，上 海长宁区信息化委员会主任，上海长宁区仙霞新村街道党工委副书记、办事处主 任等职。 特此公告。 上海医药集团股份有限公司 董事会 二零二六年二月十二日 关于选举第八届董事会职工代表董事的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 根据《中华人民共和国公司法》《公司章程》等有关规定，经 2026 年 2 月 11 日召开的第三届职工代表大会第二次联席会议审议通过，选举赵勇先生为上 海医药集团股份有限公司（下称"公司"）第八届董事会职工代表董事。赵勇先 生与经公司股东会选举产生的第八届 ...

格隆汇2月11日丨上海医药(601607.SH)公布，根据《中华人民共和国公司法》《公司章程》等有关规 定，经2026 年2月11 日召开的第三届职工代表大会第二次联席会议审议通过，选举赵勇先生为公司第八 届董事会职工代表董事。赵勇先生与经公司股东会选举产生的第八届董事会非职工代表董事共同组成公 司第八届董事会，任职期限为自公司职工代表大会选举之日起至第八届董事会任期届满之日止。 ...

Core Viewpoint - Shanghai Pharmaceuticals' subsidiary, Shanghai Kangli, has received approval from the National Medical Products Administration for the production of Tamsulosin Hydrochloride raw material, indicating a significant step in the company's product portfolio expansion [1] Group 1: Company Developments - Shanghai Kangli submitted a registration application for Tamsulosin Hydrochloride in July 2024, which has been accepted [1] - The company has invested approximately 1.5 million yuan in research and development for this product [1] Group 2: Market Context - The procurement amount for Tamsulosin Hydrochloride formulations in hospitals across mainland China is reported to be 413.8275 million yuan for 2024 [1] - The approval allows for domestic sales of the raw material, which may provide valuable experience for future applications, although it is not expected to significantly impact current performance [1]

Core Viewpoint - Shanghai Pharmaceuticals Holding Co., Ltd. has been awarded the title of "Advanced Collective in Industrial Economic Operation" by the Shanghai Municipal Economic and Information Commission, marking its third consecutive year of receiving this honor, which highlights the company's leading role and continuous contribution to the city's industrial growth [1][5]. Group 1 - In 2025, Shanghai Pharmaceuticals is committed to implementing the decisions of the municipal government, taking on the responsibility of a "chain leader" enterprise, and promoting stable growth, innovation, and transformation in the pharmaceutical industry [1][5]. - The company has successfully launched a Class 1 new drug through independent research and development, enhancing its original innovation capabilities and contributing significantly to the stable operation of the city's industrial economy and the high-quality development of the biopharmaceutical industry [1][5]. - The Shanghai Municipal Science and Technology Commission has recognized Shanghai Pharmaceuticals and its seven subsidiaries for their outstanding contributions to the high-quality development of the biopharmaceutical industry [1][5]. Group 2 - The Shanghai Municipal Economic and Information Commission has acknowledged Shanghai Pharmaceuticals as a leading enterprise in the city's biopharmaceutical industry, emphasizing its significant achievements in production stability, structural optimization, and innovation-driven initiatives [3][8]. - The commission encourages the company to maintain its exemplary role in cost reduction, talent motivation, and high-end manufacturing to provide solid support for the city's industrial growth [3][8]. - The Shanghai Municipal Science and Technology Commission noted that the growth rate of Shanghai's biopharmaceutical industry in 2025 exceeded the national average, with Shanghai Pharmaceuticals playing a crucial role in this achievement [3][8]. Group 3 - The recognition received by Shanghai Pharmaceuticals serves as both affirmation and motivation, prompting the company to aim for the goal of becoming a world-class pharmaceutical industry group led by technological innovation [5][10]. - The company plans to leverage its integrated advantages in industry, commerce, research, and investment, deepen industry chain collaboration, and accelerate AI empowerment and digital transformation [5][10]. - Shanghai Pharmaceuticals is committed to fulfilling its mission as a state-owned leading enterprise and contributing to the establishment of a world-class biopharmaceutical industry cluster in Shanghai [5][10].

Core Viewpoint - Shanghai Pharmaceuticals (601607.SH) aims to maximize asset value by selling a 30% stake in China-US Shanghai Squibb Pharmaceutical Co., Ltd. for no less than 1.023 billion yuan [1][8]. Group 1: Asset Sale Details - The company plans to transfer its 30% stake in China-US Shanghai Squibb through a public listing, with a minimum transfer price set at approximately 1.023 billion yuan [1][8]. - The potential buyer submitted a bid of 480 million USD for 100% of China-US Shanghai Squibb, valuing Shanghai Pharmaceuticals' 30% stake at approximately 144 million USD [2][7]. - The company’s stake in China-US Shanghai Squibb has a book cost of about 256 million yuan, indicating a potential profit of over 767 million yuan from the sale [9][10]. Group 2: Financial Performance and R&D Investment - Shanghai Pharmaceuticals has invested over 10 billion yuan annually in R&D since 2018, totaling approximately 107.23 billion yuan from 2021 to 2024 [12][13]. - The company reported a net profit attributable to shareholders exceeding 5 billion yuan in the first three quarters of 2025, reflecting a year-on-year increase of 26.96% [4][13]. - The company has achieved significant R&D milestones, including the approval of a new hypertension drug and the initiation of Phase III clinical trials for a new drug for ALS [3][13]. Group 3: Market Position and Business Model - Shanghai Pharmaceuticals is recognized as the second-largest pharmaceutical commercial enterprise in China and the largest provider of imported drugs, vaccines, and medical devices [12]. - The company’s revenue is primarily derived from pharmaceutical distribution, which accounted for 91.5% of total revenue in the first half of 2025, amounting to approximately 1.296 billion yuan [12]. - The company maintains a stable asset-liability ratio, which was 62.14% as of September 2025, consistent with historical levels [14].

Core Viewpoint - Shanghai Pharmaceuticals announced the intention to publicly transfer 30% of its stake in China-U.S. Shanghai Bristol-Myers Squibb Pharmaceutical Co., Ltd. (hereinafter referred to as "China-U.S. Bristol-Myers Squibb") through a property rights transaction, with a minimum listing price of 1.023 billion yuan [1][4]. Group 1: Company Overview - China-U.S. Bristol-Myers Squibb, established in 1982, is a well-known Sino-U.S. joint venture pharmaceutical company with a registered capital of 18.44 million USD. The shareholding structure includes Bristol-Myers Squibb (China) Investment Co., Ltd. holding 60%, Shanghai Pharmaceuticals holding 30%, and China National Pharmaceutical Group Asset Management Co., Ltd. holding 10% [2][5]. - The company has launched nearly 30 products in China, covering prescription drugs for cardiovascular, metabolic, and antibiotic treatments, as well as over-the-counter products like pain relievers and multivitamins [2][5]. Group 2: Financial Performance - In 2016, China-U.S. Bristol-Myers Squibb achieved a historical peak with revenues of 4.724 billion yuan and a net profit of 622 million yuan. However, the company's operational performance has declined since then [2][5]. - For the year 2024, the company reported revenues of 1.795 billion yuan and a net profit of 248 million yuan. In the first three quarters of 2025, revenues further declined to 1.096 billion yuan, with a net profit of only 87.11 million yuan [2][5][7]. Group 3: Share Transfer and Market Strategy - In September 2025, it was reported that Bristol-Myers Squibb signed an agreement to sell its 60% stake in China-U.S. Bristol-Myers Squibb to an affiliate of Hillhouse Capital. This move is aimed at allowing Bristol-Myers Squibb to focus on key growth areas while leveraging local manufacturing and market advantages [3][6]. - The transfer of 30% of the stake by Shanghai Pharmaceuticals indicates a potential comprehensive adjustment in the shareholding structure of this over 40-year-old joint venture pharmaceutical company. The minimum price for the stake transfer is set at 1.023192 billion yuan, reflecting a strategic decision to maximize asset value and protect the interests of all shareholders, especially minority shareholders [3][6].

Core Viewpoint - The restructuring of China-U.S. Bristol-Myers Squibb (BMS) marks a significant shift in the landscape of joint ventures in the pharmaceutical industry, driven by declining performance and strategic realignment [1][10]. Group 1: Share Transfer Details - Shanghai Pharmaceuticals plans to publicly transfer its 30% stake in China-U.S. Bristol-Myers Squibb through a property trading platform, with a minimum listing price of RMB 1.023 billion [1][5]. - BMS previously sold its 60% stake in the joint venture to Hillhouse Capital, with the transaction expected to complete in early 2026 [5][6]. - The transfer of shares is part of a broader trend where early joint ventures in the pharmaceutical sector are undergoing ownership changes and brand integrations [1][10]. Group 2: Financial Performance - China-U.S. Bristol-Myers Squibb's revenue has declined over 60% from its peak of nearly RMB 5 billion in 2016 to an estimated RMB 1.795 billion in 2024 [1][8]. - The company reported a net profit of only RMB 248 million in 2024, with revenues of RMB 1.096 billion in the first three quarters of 2025 [8][9]. - The decline in performance is attributed to market pressures and an aging product line, with key original drugs losing patent protection and facing competition from low-cost generics [9][11]. Group 3: Strategic Implications - The decision by Shanghai Pharmaceuticals to divest its stake is seen as a rational choice to maximize asset value and protect shareholder interests, particularly for minority shareholders [9][10]. - The shift in focus from mature drug businesses to innovative drug development aligns with the strategic direction of Shanghai Pharmaceuticals [9][11]. - The exit of early joint venture giants from the market reflects a significant transformation in the Chinese pharmaceutical landscape, driven by policy changes and evolving market dynamics [10][11].

Group 1 - The company plans to transfer 30% equity stake in its subsidiary, China-America Shanghai Bristol-Myers Squibb Pharmaceutical Co., Ltd., through public listing at a minimum price of 1.023 billion yuan [1] - The purpose of the transaction is to optimize the investment structure and maximize asset value, with the final price determined by the public listing results [1][2] - The current ownership structure of China-America Bristol-Myers Squibb includes 60% held by Bristol-Myers Squibb (China) Investment Co., Ltd., 30% by the company, and 10% by China National Pharmaceutical Group Asset Management Co., Ltd. [1] Group 2 - Bristol-Myers Squibb (China) Investment Co., Ltd. intends to sell its 60% stake in China-America Bristol-Myers Squibb, with a potential buyer expected to submit a confirmation bid by June 2025 for a total acquisition price of 480 million USD, equivalent to 1.44 billion yuan for the company's 30% stake [1] - The company believes that achieving an exit through market-based pricing will better maximize asset value and protect the interests of all shareholders, especially minority shareholders [2]

Core Viewpoint - Shanghai Pharmaceuticals plans to transfer its 30% stake in China Bristol-Myers Squibb through a public listing, with a minimum transfer price of 1.023 billion yuan [1] Group 1: Stake Transfer Details - The current ownership of China Bristol-Myers Squibb consists of three parties: 60% by Bristol-Myers Squibb (China) Investment Co., Ltd., 30% by Shanghai Pharmaceuticals, and 10% by China National Pharmaceutical Group Asset Management Co., Ltd. [1] - If the transfer is successful, Shanghai Pharmaceuticals will no longer hold any stake in China Bristol-Myers Squibb [1] - Bristol-Myers Squibb is also planning to transfer its 60% stake, with potential buyers expected to submit confirmation bids by June 2025, valuing the entire company at 480 million USD [1] Group 2: Financial Performance of China Bristol-Myers Squibb - The company has experienced a decline in performance due to centralized procurement and competition, with revenues of 1.795 billion yuan and a net profit of 248 million yuan in 2024 [2] - For the first three quarters of 2025, revenues dropped to 1.096 billion yuan and net profit to approximately 87.12 million yuan, significantly lower than the peak revenues of 4.724 billion yuan and net profits of 622 million yuan in 2016 [2] Group 3: Shanghai Pharmaceuticals' Strategic Moves - Shanghai Pharmaceuticals has been optimizing its assets, having invested nearly 1 billion yuan to gain further control of Huang Pharmaceutical last year, acquiring several traditional Chinese medicine products [2] - The company has also made acquisitions of multiple DTP pharmacy enterprises through its subsidiary, Shanghai Pharmaceuticals Cloud Health platform [2] - In terms of R&D, Shanghai Pharmaceuticals has increased its investment, with a total of 1.729 billion yuan in R&D for the first three quarters of 2025, and currently has 57 new drug pipelines, including 45 innovative drugs [2] Group 4: Financial Performance of Shanghai Pharmaceuticals - For the first three quarters of 2025, Shanghai Pharmaceuticals reported revenues of 215.072 billion yuan, a year-on-year increase of 2.60%, and a net profit attributable to shareholders of 5.147 billion yuan, up 26.96% [2] - However, the net profit after deducting losses was 3.979 billion yuan, reflecting a year-on-year decrease of 1.85% [2]

Group 1 - Shanghai Pharmaceuticals plans to transfer 30% equity stake in China and America Bristol-Myers Squibb for no less than 1.023 billion yuan, aiming to optimize investment structure and achieve asset appreciation [1] - The net profit of the target company for the first three quarters of 2025 was 87.11 million yuan, and the transaction is not expected to have a significant impact, although uncertainties exist regarding the buyer [1] Group 2 - Pianzaihuang's controlling shareholder, Jiulongjiang Group, has received a loan commitment from Industrial and Commercial Bank of China for up to 450 million yuan to support the purchase of additional shares [2] - The controlling shareholder plans to use additional self-funding of 300 million to 500 million yuan for the share acquisition, reflecting confidence in the company's value [2] Group 3 - Qizheng Tibetan Medicine's subsidiary has received a registration certificate for the "Cui Tang Granules" from the Macau government, which is a traditional Chinese medicine for respiratory issues [3] - The approval is expected to help expand the company's presence in overseas markets, although it is not anticipated to have a significant impact on recent performance [3] Group 4 - Zhifei Biological's subsidiary has received approval for clinical trials of a freeze-dried varicella inactivated vaccine, which aims to prevent chickenpox and shingles [4] - The vaccine utilizes self-developed technology and fills a gap in the domestic inactivated vaccine market, but is not expected to have a major short-term impact on performance [4] Group 5 - Innovent Biologics forecasts total product revenue of approximately 11.9 billion yuan for 2025, marking a year-on-year growth of about 45% [5] - The company achieved approximately 3.3 billion yuan in total product revenue in the fourth quarter of 2025, with a year-on-year increase of over 60%, driven by steady growth in 13 oncology products and the release of 3 chronic disease medications [5]