茲載列國藥控股股份有限公司旗下一間 A股及 B股於深圳證券交易所上市的附屬公司， 國藥集團一致藥業股份有限公司，在深圳證券交易所網站刊登的《國藥集團一致藥業股 份有限公司 2025 年度業績預告》，僅供參閱。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 海外監管公告 國藥集團一致藥業股份有限公司 2025 年度業績預告 本公告乃根據香港聯合交易所有限公司證券上市規則第 13.10B 條作出。 承董事會命 國藥控股股份有限公司 董事長 晉斌 中國，上海 2026 年 1 月 25 日 於本公告日期，執行董事為連萬勇先生及楊秉華先生；非執行董事為晉斌先生、陳啟宇先生、 祖敬先生、邢永剛先生、陳玉卿先生、文德鏞先生、馬躍先生及李瑩女士；獨立非執行董事為 李培育先生、吳德龍先生、俞衛鋒先生、石晟昊先生及陳威如先生。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年12月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 國藥控股股份有限公司 呈交日期: 2026年1月7日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01099 | 說明 | H股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,341,810,740 | RMB | | | 1 RMB | | 1,341,810,740 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 1,341,810,740 | RMB | | | 1 RMB | | 1,341,810,740 | | 2. 股份分 ...

Core Insights - The article highlights that Guoyao Holdings Xingsha Pharmaceutical (Xiamen) Co., Ltd. has obtained a patent for a "three-dimensional wrapping machine," with the authorization announcement number CN116461777B and an application date of March 2023 [1]. Company Overview - Guoyao Holdings Xingsha Pharmaceutical (Xiamen) Co., Ltd. was established in 1998 and is located in Xiamen City, primarily engaged in the pharmaceutical manufacturing industry [1]. - The company has a registered capital of 360 million RMB [1]. - According to data analysis from Tianyancha, the company has invested in 2 enterprises and participated in 1,556 bidding projects [1]. - The company holds 211 trademark information records and 143 patent information records, along with 174 administrative licenses [1].

11月28日，国药控股公告称，由于工作安排原因，赵炳祥已向董事会提出辞任非执行董事、董事会董事 长等职务。 12月19日，国药控股股东特别大会召开，官宣晋斌正式出任董事长。 晋斌，52岁，获北京交通大学工商管理专业硕士学位，有丰富的国药集团工作经验，自2022年11月起担 任国药集团副总经理，自2025年4月起兼任国药集团总法律顾问、首席合规官。 前任董事长赵炳祥，1972年5月生，沈阳药科大学药学学士，北京大学药剂学硕士，浙江大学化学工程博 士，教授级工程师。现任中国医药集团有限公司党委副书记、董事、总经理，兼任沈阳药科大学教授、 博士生导师，浙江大学医学院教授，科技部经典名方现代中药全国重点实验室副主任，曾两次荣获国家 科技进步二等奖。 11月28日，国药控股公告称，由于工作安排原因，赵炳祥已向董事会提出辞任非执行董事、董事会董事 长等职务。 12月19日，国药控股股东特别大会召开，官宣晋斌正式出任董事长。 2024年3月，赵炳祥因工作变动辞去华润三九董事、总裁等职，辞职后不再在华润三九担任职务。同月， 赵炳祥加入中国医药集团，任中国医药集团董事、总经理。2024年8月末，国控原董事长于清明因工作需 要辞 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性或完整性 亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容而產生或因倚賴該等內容而引致 之任何損失承擔任何責任。 董事名單與其角色和職能 國藥控股股份有限公司董事會（「董事會」）成員載列如下： 非執行董事 晉斌（董事長） 陳啟宇 祖敬 邢永剛 馬躍 陳玉卿 文德鏞 李瑩 連萬勇（總裁） 楊秉華 獨立非執行董事 李培育 吳德龍 俞衛鋒 石晟昊 陳威如 執行董事 * 本公司以其中文名稱及英文名稱「 Sinopharm Group Co. Ltd. 」根據香港公司條例註冊為非香港公司。 1 董事會設立 5 個委員會。下表提供各董事會成員在這些委員會中所擔任的職位。 | 董事會委員會 | | | | | 戰略與投資 | 法律合規與 | | --- | --- | --- | --- | --- | --- | --- | | 董事 | 審核委員會 | | 薪酬委員會 | 提名委員會 | 委員會 | 環境、社會及 治理委員會 | | 晉斌 | | | | C | C | M | | 陳啟宇 | | | | | M | | | ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 公告 於 2025 年 12 月 19 日（星期五）舉行之股東特別大會投票結果 茲提述（i）國藥控股股份有限公司（「本公司」）日期為 2025 年 12 月 4 日之股東特別大會通 告 （「通告」）；及（ii）本公司日期為 2025 年 12 月 4 日之通函（「通函」）。除非文義另 有所指，本公告所用詞彙與通函所界定者具有相同涵義。 股東特別大會投票結果 董事會欣然公佈，股東特別大會已於 2025 年 12 月 19 日（星期五）上午九時半假座中國上海 市黃浦區龍華東路 385 號國藥控股大廈 1401 會議室舉行。所有於股東特別大會上所提呈之決 議案均以投票表決方式獲正式通過。本公司董事連萬勇先生、李培育先生、吳德龍先生、俞衛 鋒先生、石晟昊先生、陳威如先生、祖敬先生、邢永剛先生、陳玉卿先生、文德鏞先生及馮蓉 麗女士已出席股東特別大會。 * 本公司以其中文名稱及英文名稱「 Sinopharm Gro ...

Group 1 - The core viewpoint of the article highlights the strong performance of China National Pharmaceutical Group (Sinopharm) in the pharmaceutical distribution industry, with a 17% year-on-year growth in net profit attributable to shareholders in Q3 2025 [1][5] - Sinopharm operates in three main segments: pharmaceutical distribution, medical device distribution, and retail, with a revenue of 584.5 billion RMB in 2024, maintaining a leading position in the Chinese pharmaceutical retail market [1][3] - The company has a robust distribution network covering over 700,000 terminal networks across various provinces, contributing to its market share growth [1][3] Group 2 - Sinopharm's actual controller is China National Pharmaceutical Group, with a clear distribution of business across its subsidiaries, including significant stakes in listed companies [2] - The company has experienced a compound annual growth rate (CAGR) of approximately 9% in revenue over the past seven years, with a slight decline in revenue in 2024 [3][5] - The net profit for 2024 was approximately 7.05 billion RMB, reflecting a 22.14% year-on-year decrease due to impairment provisions [5][6] Group 3 - The pharmaceutical distribution segment has shown a CAGR of about 7% from 2018 to 2024, with a focus on high-value clinical products and marketing service expansion [9][10] - The medical device distribution segment has also seen growth, particularly in the SPD (Smart Procurement and Distribution) business, which has expanded its coverage significantly [11][13] - The industry is experiencing increased concentration, benefiting leading companies like Sinopharm, which holds over 20% market share [14]

Group 1 - The core viewpoint of the article highlights that China National Pharmaceutical Group (Sinopharm) is a leading player in the pharmaceutical distribution industry, with a significant increase in net profit growth of 17% in Q3 2025 [1][3][6] - Sinopharm operates in three main segments: pharmaceutical distribution, medical device distribution, and retail, with a comprehensive distribution network covering over 700,000 terminals across various provinces [1][3][10] - The company achieved a revenue of 584.5 billion RMB in 2024, with pharmaceutical distribution maintaining its leading position and a steady increase in market share [1][3][10] Group 2 - As of June 30, 2025, the controlling shareholder of Sinopharm is China National Pharmaceutical Group, with a stake of 50.36% held by Sinopharm Industry Investment Co., Ltd. [2][17] - The company has a clear business distribution among its subsidiaries, which include pharmaceutical wholesale, medical device sales, and pharmaceutical storage and transportation [2][17] - Sinopharm holds significant stakes in listed companies such as Sinopharm Holdings (approximately 55%) and Sinopharm Concord (approximately 56.06%) [2][17] Group 3 - The company's revenue compound annual growth rate (CAGR) from 2018 to 2024 is approximately 9.21%, with a decline of 2.02% in 2024 revenue compared to the previous year [3][19] - In H1 2025, the company's revenue was approximately 430.44 billion RMB, with a decline in pharmaceutical and medical device distribution revenues, while retail revenue grew by 3.65% [3][19] - The revenue composition in H1 2025 shows that pharmaceutical distribution accounts for about 73%, medical devices for 20%, and retail for 6% [3][19] Group 4 - From a profit perspective, the company's net profit CAGR from 2020 to 2023 is about 8%, with a net profit of approximately 7.05 billion RMB in 2024, a decline of 22.14% year-on-year [6][21] - In Q3 2025, the net profit reached 1.85 billion RMB, marking a 17% increase compared to the same quarter last year, indicating a turning point in profitability [6][21] - The main source of operating profit comes from pharmaceutical distribution, which accounted for about 75% of the operating profit in H1 2025 [6][21] Group 5 - The gross profit margin has remained between 7% and 10% from 2018 to 2024, with a slight decline in 2024 attributed to decreased revenues from high-margin medical device and industrial businesses [7][22] - The net profit margin decreased to 1.78% in 2024, primarily due to impairment provisions for goodwill and intangible assets [7][22] - The company's asset-liability ratio has been declining annually since 2019, reaching 67.8% in 2024, with a further decrease to 68.4% in Q3 2025 [8][23] Group 6 - The pharmaceutical distribution segment is the company's main business, benefiting from the increasing industry concentration and the introduction of high-value clinical products [10][26] - The company has been expanding its marketing services and partnerships with major pharmaceutical manufacturers, enhancing its professional marketing platform [10][26] - The growth drivers for pharmaceutical distribution include the normalization of centralized procurement and the introduction of high-demand products, which have shown double-digit growth in sales and gross profit [10][28] Group 7 - The medical device distribution segment has seen a compound annual growth rate of approximately 15.69% from 2018 to 2024, although revenue declined by 9.32% in 2024 [10][29] - The company has been actively expanding its SPD (Smart Procurement and Distribution) business, which has contributed to a 13% revenue increase in H1 2025 [10][29] - The decline in the medical device distribution segment is linked to strategic adjustments and reduced procurement projects due to fiscal policies [10][29]

Core Viewpoint - The company is expected to improve profitability and operational efficiency as it approaches the end of its low-efficiency business adjustments by Q3 2025, with a projected net profit growth of 17% in that quarter [1] Group 1: Financial Performance - In Q3 2025, the company's sales expense ratio and management expense ratio decreased, leading to a net profit margin increase of 0.2 percentage points [1] - The company's dividend payout ratio has steadily increased from 28.1% in 2021 to 30.98% in 2024, with an average annual increase of 0.96 percentage points [1][3] - The company's current price-to-book (PB) ratio is approximately 0.71, which is lower than the five-year average of 0.81 [1][3] Group 2: Industry Trends - The concentration of the pharmaceutical distribution industry has increased from 38.38% in 2019 to 42.69% in 2023, with the company holding a market share of 20.36% in 2023 [2] - The compound annual growth rate (CAGR) for the company's pharmaceutical distribution revenue is projected to be around 7% from 2018 to 2024, with expected revenue of approximately 424.6 billion yuan in 2024 [2] - The company's medical device distribution revenue is expected to grow at a CAGR of about 15.69% from 2018 to 2024, reaching approximately 117.5 billion yuan in 2024 [2] Group 3: Strategic Initiatives - The company is focusing on enhancing quality and efficiency while optimizing its business structure in preparation for the "14th Five-Year Plan" conclusion and the "15th Five-Year Plan" initiation [1][3] - The company is implementing a "wholesale and retail integration" strategy to deepen its dual-brand strategy with professional pharmacies and Guoda pharmacies [2] - The company anticipates improvements in profitability for Guoda pharmacies by optimizing underperforming stores [2] Group 4: Future Projections - The company forecasts revenues of 577.19 billion yuan, 597.83 billion yuan, and 619.32 billion yuan for 2025, 2026, and 2027, respectively, with corresponding net profits of 8.08 billion yuan, 8.75 billion yuan, and 9.52 billion yuan [4] - The projected price-to-earnings (PE) ratios for 2025, 2026, and 2027 are 7.27, 6.71, and 6.17, respectively [4]

Investment Rating - The report assigns a "Buy" investment rating to the company [2] Core Views - The report highlights that the company is undergoing a significant improvement in profitability, with a notable 17% year-on-year growth in net profit for Q3 2025, driven by a reduction in sales and management expense ratios [5][27] - The company is expected to benefit from the ongoing consolidation in the pharmaceutical distribution industry, with its market share increasing to 20.36% in 2023 [5][44] - The report emphasizes the company's commitment to enhancing operational quality and optimizing its business structure, which is anticipated to lead to sustained profit growth in 2026 [5][15] Summary by Sections Company Overview - The company, China National Pharmaceutical Group Corporation (Sinopharm), is a leading player in the pharmaceutical distribution industry, with a comprehensive business layout that includes pharmaceutical distribution, medical device distribution, and retail [17][18] - The company has achieved a compound annual growth rate (CAGR) of approximately 9% in revenue over the past seven years, with a significant 17% growth in net profit for Q3 2025 [22][27] Industry Dynamics - The pharmaceutical distribution industry has seen an increase in concentration, with the market share of the top four companies rising from 38.38% in 2019 to 42.69% in 2023 [13][43] - The report notes that the company's pharmaceutical distribution revenue is projected to grow at a CAGR of about 7% from 2018 to 2024, with a focus on high-demand and high-value products [5][36] Financial Performance - The company reported total revenue of approximately 584.5 billion yuan in 2024, with a projected revenue of 577.2 billion yuan for 2025, reflecting a slight decline of 1% [6][27] - The net profit attributable to the parent company is expected to reach 80.77 billion yuan in 2025, representing a 15% increase year-on-year [6][27] Dividend Policy - The company has steadily increased its dividend payout ratio from 28.1% in 2021 to 30.98% in 2024, with an average dividend yield of 4.45% over the past five years [5][16] - The report indicates that the company's price-to-book (PB) ratio is currently around 0.71, which is below the five-year average of 0.81, suggesting potential for valuation improvement [5][16]