益丰药房股权激励“硕果”落地，年内已有3名高管减持，2名高管减持正在路上

Core Viewpoint - Yifeng Pharmacy has seen significant insider selling this year, with three executives and the controlling shareholder reducing their stakes, raising questions about the performance of the company's 2022 restricted stock incentive plan and whether executives have profited from it [1][2][3]. Group 1: Insider Selling - In 2025, Yifeng Pharmacy's controlling shareholder, Houxin Chuangtou, and its executives have completed share reduction plans, with a total of 24,248,200 shares sold, accounting for 2.00% of the total share capital [2]. - Executives including Gao Youcheng and Yan Jun have also sold shares, with prices ranging from 22 to 25 yuan [2][3]. - The upcoming share reductions by executives Wang Yonghui and Xiao Zaixiang involve a total of 213,900 shares [1]. Group 2: Performance of Incentive Plan - The shares sold by executives were obtained through the 2022 restricted stock incentive plan and capital reserve conversion [3][4]. - The 2022 incentive plan was deemed successful, meeting company performance assessment requirements [4][8]. - The performance targets for the incentive plan required a net profit increase of at least 20% in 2022 and 45% in 2023 compared to 2021 [5][6]. Group 3: Financial Performance - Yifeng Pharmacy's net profits from 2021 to 2024 were 888 million, 1.262 billion, 1.412 billion, and 1.529 billion yuan, showing growth rates of approximately 42.12%, 59.01%, and 72.18% respectively [7]. - Despite the growth in net profit, the company's revenue growth has slowed, with a reported revenue of 17.286 billion yuan in the first three quarters of 2025, a year-on-year increase of only 0.39% [8].