股票代码：000538 股票简称：云南白药 公告编号：2025-40 云南白药集团股份有限公司独立董事候选人声明与承诺 声明人胡明星作为云南白药集团股份有限公司第十一届董事会独 立董事候选人，已充分了解并同意由提名人云南白药集团股份有限公 司董事会提名为云南白药集团股份有限公司（以下简称该公司）第十 一届董事会独立董事候选人。现公开声明和保证，本人与该公司之 间不存在任何影响本人独立性的关系，且符合相关法律、行政法规、 部门规章、规范性文件和深圳证券交易所业务规则对独立董事候选 人任职资格及独立性的要求，具体声明并承诺如下事项： 一、本人已经通过云南白药集团股份有限公司第十一届董事会提 名委员会或者独立董事专门会议资格审查，提名人与本人不存在利 害关系或者其他可能影响独立履职情形的密切关系。 √ 是 □ 否 如否，请详细说明： 二、本人不存在《中华人民共和国公司法》第一百七十八条等 规定不得担任公司董事的情形。 √ 是 □ 否 如否，请详细说明： 三、本人符合中国证监会《上市公司独立董事管理办法》和深 圳证券交易所业务规则规定的独立董事任职资格和条件。 √ 是 □ 否 如否，请详细说明： 四、本人符合该公司章 ...

股票代码：000538 股票简称：云南白药 公告编号：2025-45 云南白药集团股份有限公司独立董事提名人声明与承诺 如否，请详细说明： 三、被提名人符合中国证监会《上市公司独立董事管理办法》 和深圳证券交易所业务规则规定的独立董事任职资格和条件。 √ 是 □ 否 如否，请详细说明： 提名人云南白药集团股份有限公司董事会现就提名曹仰锋为云南 白药集团股份有限公司第十一届董事会独立董事候选人发表公开声 明。被提名人已书面同意作为云南白药集团股份有限公司第十一届 董事会独立董事候选人（参见该独立董事候选人声明）。本次提名是 在充分了解被提名人职业、学历、职称、详细的工作经历、全部兼 职、有无重大失信等不良记录等情况后作出的，本提名人认为被提 名人符合相关法律、行政法规、部门规章、规范性文件和深圳证券 交易所业务规则对独立董事候选人任职资格及独立性的要求，具体声 明并承诺如下事项： 一、被提名人已经通过云南白药集团股份有限公司第十届董事 会提名委员会或者独立董事专门会议资格审查，提名人与被提名人 不存在利害关系或者其他可能影响独立履职情形的密切关系。 √ 是 □ 否 如否，请详细说明： 二、被提名人不存在《中华人 ...

股票代码：000538 股票简称：云南白药 公告编号：2025-46 本公司及董事会全体成员保证信息披露内容的真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 云南白药集团股份有限公司（以下简称"公司"）第十届董事会 2025 年第六次会议审议通过，决定于 2025 年 11 月 10 日召开 2025 年第二次临时股东大会。现将本次股东大会相关事项通知如下： 一、召开会议基本情况 （一）股东大会届次：2025 年第二次临时股东大会。 （二）召集人：公司第十届董事会。经公司第十届董事会 2025 年第六次会议审议通过，决定召开 2025 年第二次临时股东大会。 （三）会议召开的合法合规性：本次股东大会的召开符合《公司 法》《证券法》《深圳证券交易所股票上市规则》和《公司章程》等 有关规定。 （四）会议召开时间： 现场会议召开时间：2025 年 11 月 10 日上午 9:30 起。 云南白药集团股份有限公司 关于召开 2025 年第二次临时股东大会的通知 网络投票时间： 1、通过深圳证券交易所交易系统进行网络投票的时间为 2025 年 11 月 10 日 9:15-9:25，9:30-11:30 和 ...

本公司及监事会全体成员保证信息披露内容的真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 云南白药集团股份有限公司（以下简称"公司"）第十届监事会 2025 年第四次会议（以下简称"会议"）于 2025 年 10 月 24 日以通讯表决方 式召开，本次会议通知于 2025 年 10 月 22 日以书面、邮件方式发出，应 出席监事 3 名，实际出席监事 3 名。会议的召集、召开程序符合《中华人 民共和国公司法》（以下简称"《公司法》"）及《公司章程》的相关规 定，会议合法有效。会议审议通过了以下议案并形成如下决议： 一、审议通过《关于取消监事会并修订<公司章程>的议案》 同意公司根据《中华人民共和国公司法（2023 年修订）》《上市公司 章程指引（2025 年修订）》等相关法律法规规定，并结合公司实际情况， 取消监事会，并对《公司章程》进行修订。 该议案提交公司 2025 年第二次临时股东大会审议通过后，公司取消 监事会，公司监事自动离任，公司《监事会议事规则》等监事会相关制度 同步废止。 在公司股东大会审议通过该议案之前，公司第十届监事会将严格按照 有关法律法规和《公司章程》的规定，继续履行职责。 股 ...

股票代码：000538 股票简称：云南白药 公告编号：2025-36 云南白药集团股份有限公司 第十届董事会 2025 年第六次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 1 / 14 表决结果：11 票同意、0 票反对、0 票弃权。 二、审议通过《关于修订<股东大会议事规则>的议案》 同意公司根据《中华人民共和国公司法（2023 年修订）》《上市公司 章程指引（2025 年修订）》等相关法律法规规定，并结合公司实际情况， 对公司《股东大会议事规则》进行修订，修订后的《股东大会议事规则》 更名为《股东会议事规则》。 具 体 内 容 详 见 公 司 同 日 在 巨 潮 资 讯 网 挂 网 （ 网 址 ： http://www.cninfo.com.cn）披露的《股东会议事规则》。 表决结果：11 票同意、0 票反对、0 票弃权。 云南白药集团股份有限公司（以下简称"公司"）第十届董事会 2025 年第六次会议（以下简称"会议"）于 2025 年 10 月 24 日在公司总部会议 室以现场结合通讯表决的方式召开，本次会议通知于 2025 年 10 ...

Market Overview - The Chinese medicine sector experienced a decline of 0.56% on October 24, with Zhen Dong Pharmaceutical leading the drop [1] - The Shanghai Composite Index closed at 3950.31, up 0.71%, while the Shenzhen Component Index closed at 13289.18, up 2.02% [1] Stock Performance - Notable gainers in the Chinese medicine sector included: - Nonghui Co., Ltd. (603139) with a closing price of 22.86, up 1.87% [1] - Tianmu Pharmaceutical (600671) at 19.28, up 1.80% [1] - Huasen Pharmaceutical (002907) at 17.14, up 1.48% [1] - Major decliners included: - Zhen Dong Pharmaceutical (300158) at 6.93, down 5.33% [2] - Qidi Pharmaceutical (000590) at 12.23, down 3.55% [2] - Zhongsheng Pharmaceutical (002317) at 17.96, down 2.55% [2] Capital Flow - The Chinese medicine sector saw a net outflow of 577 million yuan from institutional investors, while retail investors contributed a net inflow of 462 million yuan [2] - The sector's capital flow indicated a mixed sentiment, with institutional investors withdrawing funds while retail investors increased their positions [2] Individual Stock Capital Flow - Key stocks with significant capital flow included: - China Resources Sanjiu (6660000) with a net inflow of 17.64 million yuan from institutional investors [3] - Jilin Aodong (000623) with a net inflow of 14.57 million yuan [3] - Yunnan Baiyao (000538) with a net inflow of 12.11 million yuan [3] - Conversely, stocks like Huasen Pharmaceutical (002907) experienced a net outflow of 11.31 million yuan from retail investors [3]

Core Insights - Yunnan Baiyao has officially launched the "Nanzhao Huaying" series of red lipsticks under its Caizhi Ji brand, indicating its expansion into the beauty market [2] - The company has previously introduced various beauty products since 2011, but its skincare business has not significantly contributed to revenue as per the 2025 mid-year performance report [3] Company Overview - Yunnan Baiyao is primarily focused on four core business segments: pharmaceuticals, health products, traditional Chinese medicine resources, and Yunnan provincial pharmaceutical companies [3] - The Caizhi Ji brand has previously launched products such as masks, essence water, and medical auxiliary materials, but its impact on overall revenue remains limited [3] Market Challenges - The beauty market is highly competitive, with numerous brands and established players that rely on scientific research and technological strength [3] - Despite Yunnan Baiyao's brand recognition and expertise in pharmaceuticals, converting these advantages into sales in the beauty sector remains uncertain [3] - The company faces significant challenges in capturing market share and expanding its beauty business due to the distinct differences in product development, channel strategies, and marketing logic between pharmaceuticals and beauty products [3]

Core Viewpoint - The development of radiopharmaceuticals is revolutionizing cancer treatment, allowing targeted delivery of radiation to tumor cells while minimizing damage to surrounding healthy cells [1][2][3]. Industry Overview - Radiopharmaceuticals, which contain radioactive isotopes, are becoming a strategic focus in the biopharmaceutical industry globally, with major pharmaceutical companies entering the field [3][4]. - The global radiopharmaceutical market is projected to grow from $12.6 billion in 2023 to $21 billion by the end of 2029, with a compound annual growth rate (CAGR) of 8.29% from 2024 to 2029 [3]. Clinical Application - The treatment process involves imaging techniques like SPECT or PET to locate tumors and determine the appropriate dosage of radiopharmaceuticals, which are then administered to the patient [5]. - The integration of diagnosis and treatment, referred to as "diagnosis-therapy integration," is a key feature that distinguishes radiopharmaceutical therapy from existing cancer treatment methods [5]. Market Dynamics - The international market has validated the value of radiopharmaceuticals, exemplified by the approval and success of Pluvicto in the U.S. for treating metastatic castration-resistant prostate cancer, generating $271 million in its first year [6]. - In China, as of February 2024, only three innovative radiopharmaceuticals have been approved, highlighting a lag in innovation compared to international counterparts [7][8]. Challenges and Opportunities - The development of innovative radiopharmaceuticals is hindered by the need for collaboration across the supply chain, including the availability of imaging equipment and isotopes [8][9]. - Recent government initiatives aim to enhance the infrastructure for radiopharmaceuticals, including plans for comprehensive coverage of nuclear medicine departments in hospitals by 2025 [10][11]. Innovations and Developments - Companies like Shanghai United Imaging Healthcare have made significant advancements in high-end imaging equipment, contributing to the rapid proliferation of PET technology in China [11]. - Domestic production of isotopes is improving, with companies like China National Nuclear Corporation and Yuan Da Pharmaceutical achieving mass production of various isotopes [12]. Future Outlook - The Chinese radiopharmaceutical industry is expected to enter a phase of accelerated development, with over 205 innovative radiopharmaceuticals currently in clinical stages [12][18]. - Multiple companies, including Fosun Pharma and Baiyang Pharmaceutical Group, are actively expanding their presence in the radiopharmaceutical sector, indicating a robust growth trajectory [14][15][16].

Core Viewpoint - Yunnan Baiyao Group announced that its major shareholder, Xinhua Dou Industrial Group, has completed the issuance of non-public exchangeable bonds, with a total issuance scale of up to 2 billion RMB [2][4]. Group 1: Bond Issuance Details - The exchangeable bonds, named "25 Xinhua Dou EB01," were issued on October 22, 2025, with a total scale of 2 billion RMB [3][4]. - The bonds have a maturity period of 3 years and a coupon rate of 0.1% [7]. - The initial conversion price for the bonds is set at 71.66 RMB per share [7]. Group 2: Conversion Period - The conversion period for the bonds will start from April 23, 2026, and end on October 20, 2028 [5]. Group 3: Shareholder Actions - Xinhua Dou will transfer 56 million shares of Yunnan Baiyao to a designated account to serve as collateral for the bondholders [2]. - The bonds will be managed by Guosen Securities as the nominal holder [2]. Group 4: Regulatory Compliance - The company has received a no-objection letter from the Shenzhen Stock Exchange regarding the bond issuance [2]. - Yunnan Baiyao will fulfill its information disclosure obligations regarding the subsequent developments of the bond issuance [6].

Core Insights - The next 25 years will be more challenging for developing economies compared to the past 25 years, with significant obstacles such as high debt burdens, weak investment and productivity growth, and rising costs due to climate change [1] - The upcoming Fortune China 500 Summit on November 11 in Shanghai will focus on how leading companies can build sustainable competitive advantages and leverage disruptive technological changes to drive growth [1][2] Group 1: Summit Themes - The summit will explore how companies can navigate through cycles with a long-term vision and establish lasting competitive advantages [1] - Discussions will include how to harness disruptive technological changes to become stronger players in the industry [1] - The event will also address how to lead and define a future path that integrates intelligence, resilience, and sustainability [1] Group 2: Special Events - The MPW Breakfast will focus on the theme "Breaking the Involution, Seeking Incremental Growth," where female leaders will discuss the roots of involution and share experiences [2] - The 40U40 Lunch will gather young leaders recognized in the Fortune 40 Under 40 list, showcasing their innovative practices across key sectors like AI, green technology, and smart manufacturing [2] Group 3: Notable Speakers - A diverse lineup of speakers from various industries will participate, including executives from technology, healthcare, and finance sectors [3][5]