云南白药子公司拟以6.6亿元收购聚药堂100%股权，布局北方市场

Core Viewpoint - Yunnan Baiyao plans to acquire 100% equity of Juyatang for 660 million yuan, aiming to expand its market presence in northern China and enhance its product pipeline [1][3]. Group 1: Acquisition Details - The acquisition will be executed by Yunnan Baiyao's wholly-owned subsidiary, Yunnan Baiyao Group Traditional Chinese Medicine Resources Co., Ltd. [1] - Juyatang specializes in the production and sales of traditional Chinese medicine pieces, including toxic and directly consumable herbal medicines [4]. - The payment structure includes an initial payment of 528 million yuan (80% of the total) and the remaining 132 million yuan (20%) contingent on performance during the commitment period [5]. Group 2: Performance Commitments - Juyatang is committed to achieving a cumulative net profit of 189.6 million yuan and cumulative main business revenue of 1.906 billion yuan from 2025 to 2027 [5][6]. - The annual profit commitments are 66 million yuan for 2025, 59.7 million yuan for 2026, and 63.9 million yuan for 2027 [6]. Group 3: Market Position and Strategy - Juyatang's unique sales model includes a self-developed app for B2B online sales, with 100,000 registered users and 53,000 cumulative trading customers, primarily targeting pharmacies, clinics, and traditional Chinese medicine institutions [4]. - The sales area of Juyatang is mainly in northern China, complementing Yunnan Baiyao's existing market coverage [5]. Group 4: Financial Performance of Yunnan Baiyao - In 2024, Yunnan Baiyao achieved a revenue of 40.033 billion yuan, marking a 2.36% year-on-year increase, with a net profit of 4.749 billion yuan, up 16.02% [7]. - The company reported a significant increase in net profit and revenue in the first quarter of 2024, with net profit growth of 13.67% [7].