证券代码：603233 证券简称：大参林 公告编号：2025-041 大参林医药集团股份有限公司 关于召开2025年第一次临时股东大会的通知 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法律责任。 重要内容提示： 一、 召开会议的基本情况 (一) 股东大会类型和届次 2025年第一次临时股东大会 召开的日期时间：2025 年 6 月 25 日 10 点 30 分 召开地点：广州市荔湾区龙溪大道 410 号大参林集团综合楼 4 楼会议室 (五) 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 股东大会召开日期：2025年6月25日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 (四) 现场会议召开的日期、时间和地点 网络投票起止时间：自2025 年 6 月 25 日 至2025 年 6 月 25 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间 ...

证券代码：603233 证券简称：大参林 公告编号：2025-041 大参林医药集团股份有限公司 关于召开2025年第一次临时股东大会的通知 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法律责任。 重要内容提示： 一、 召开会议的基本情况 (一) 股东大会类型和届次 2025年第一次临时股东大会 召开的日期时间：2025 年 6 月 25 日 10 点 30 分 召开地点：广州市荔湾区龙溪大道 410 号大参林集团综合楼 4 楼会议室 (五) 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 股东大会召开日期：2025年6月25日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 (四) 现场会议召开的日期、时间和地点 网络投票起止时间：自2025 年 6 月 25 日 至2025 年 6 月 25 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间 ...

证券代码：603233 证券简称：大参林 公告编号：2025-038 大参林医药集团股份有限公司 第四届监事会第十九次会议决议公告 本公司监事会及全体监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法律责任。 重要内容提示： 一、监事会会议召开情况 大参林医药集团股份有限公司（以下简称"公司"）第四届监事会第十九次 会议于 2025 年 6 月 9 日以通讯方式召开，本次会议应到监事 3 人，实到监事 3 人，会议由监事会主席陈智慧先生召集并主持。会议的出席人数、召集、召开及 表决程序均符合《中华人民共和国公司法》和《大参林医药集团股份有限公司 章程》的有关规定，会议决议合法、有效。 二、监事会会议审议情况 1、审议通过《关于聘请战略顾问暨关联交易的议案》 公司监事会审议后认为：柯康保先生深耕医药零售行业多年，具备丰富的 行业管理经验，公司与其签订的《战略顾问协议》符合公司战略发展及产业布 局的需要，交易定价是由双方协商确定，定价公允、合理，符合公司及全体股 东的利益。监事会同意聘请柯康保先生为公司的战略顾问。 表决结果为：3 票同意、0 票反对、0 票弃 ...

证券代码：603233 证券简称：大参林 公告编号：2025-038 大参林医药集团股份有限公司 本公司监事会及全体监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法律责任。 第四届监事会第十九次会议决议公告 重要内容提示： 一、监事会会议召开情况 大参林医药集团股份有限公司（以下简称"公司"）第四届监事会第十九次 会议于 2025 年 6 月 9 日以通讯方式召开，本次会议应到监事 3 人，实到监事 3 人，会议由监事会主席陈智慧先生召集并主持。会议的出席人数、召集、召开及 表决程序均符合《中华人民共和国公司法》和《大参林医药集团股份有限公司 章程》的有关规定，会议决议合法、有效。 二、监事会会议审议情况 1、审议通过《关于聘请战略顾问暨关联交易的议案》 公司监事会审议后认为：柯康保先生深耕医药零售行业多年，具备丰富的 行业管理经验，公司与其签订的《战略顾问协议》符合公司战略发展及产业布 局的需要，交易定价是由双方协商确定，定价公允、合理，符合公司及全体股 东的利益。监事会同意聘请柯康保先生为公司的战略顾问。 表决结果为：3 票同意、0 票反对、0 票弃 ...

一、董事会会议召开情况 大参林医药集团股份有限公司（以下简称"公司"）第四届董事会第二十六 次会议于 2025 年 6 月 9 日以通讯方式召开，本次会议应到董事 7 人，实到董事 7 人。本次会议由董事长柯云峰先生召集并主持，公司监事及部分高级管理人员 列席了会议。本次会议的出席人数、召集、召开及表决程序均符合《中华人民共 和国公司法》等法律法规、行政部门规章、规范性文件和《大参林医药集团股份 有限公司章程》（以下简称"《公司章程》"）的规定，会议决议合法有效。 二、董事会会议审议情况 1、审议通过《关于聘请战略顾问暨关联交易的议案》 根据公司战略发展、产业布局等需要， 公司拟聘请柯康保先生为战略顾问， 为公司总体发展目标、发展战略、经营战略等活动提供顾问服务，并与柯康保 先生签订《战略顾问协议》，聘期三年，每年薪酬为人民币 120 万元（含税）。 证券代码：603233 证券简称：大参林 公告编号：2025-037 大参林医药集团股份有限公司 第四届董事会第二十六次会议决议公告 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法律责任 ...

Core Viewpoint - The company, Dazhenglin, has completed its coverage of 21 provinces in China and aims to enhance market share in these regions while optimizing its store network through an intelligent site selection system [2][4]. Group 1: Company Expansion and Strategy - Dazhenglin has established 16,553 stores by the end of 2024, leading the retail pharmacy industry in both sales and store count [2]. - The company plans to prioritize the development of cities based on multi-dimensional data, employing different operational strategies for mature and weaker markets [2]. - Dazhenglin will accelerate its franchise business to attract small and medium-sized chains and independent stores, enhancing market share and brand influence in weaker regions [2][4]. Group 2: Store Efficiency and Profitability - The company is focusing on improving store efficiency by reducing rental costs and adjusting store sizes based on operational needs [3]. - In Q1 2024, the retail segment's gross margin increased by 0.21% year-on-year, driven by promotional system enhancements and a higher share of proprietary and exclusive products [3]. Group 3: Industry Trends and Future Growth - The pharmaceutical retail industry is expected to see increased concentration, deepening prescription outflow, and a focus on specialized service capabilities [4]. - Dazhenglin aims to enhance profitability through regional consolidation, deepening franchise models, and empowering new retail systems [4]. - The company is actively expanding its capabilities in DTP pharmacies, medical insurance coordination, and dual-channel qualification to improve innovative drug sales [4].

Industry Investment Rating - The industry investment rating is "Outperform the Market" and is maintained [2]. Core Viewpoints - The report emphasizes that policy support for listed companies through mergers and acquisitions is crucial for high-quality development, leading to ongoing industry consolidation [5][14]. - The pharmaceutical and biotechnology sector has shown a weekly increase of 1.13%, outperforming the CSI 300 index by 0.25 percentage points, ranking 17th among 31 sub-industries [7][18]. Summary by Sections 1. Weekly Viewpoint - The report highlights that recent policies have improved regulatory inclusiveness and relaxed competition restrictions, facilitating mergers and acquisitions [14]. - Companies like Maipu Medical and Pilin Bio have announced plans for mergers and acquisitions, which are expected to enhance their technological capabilities and market positions [6][15]. 2. Subsector Performance - The pharmaceutical sector's sub-indices all recorded gains, with the raw materials and blood products sectors leading with a 2.89% increase [7][22]. - The report suggests that the medical device sector has significant room for valuation growth, with a current P/E ratio of 37.55, below its historical average [26]. 3. Recommended and Beneficiary Stocks - Recommended stocks include Yingke Medical, Maipu Medical, and Yihe Jiaye, among others [8]. - Beneficiary stocks identified are Shanhaishan, Yirui Technology, and Lianying Medical [27]. 4. Detailed Subsector Analysis - **Medical Devices**: The sector is expected to benefit from policies promoting equipment upgrades and procurement, with a focus on AI applications in imaging and surgery [26]. - **Medical Consumables**: The sector is projected to see steady growth as high-value consumables approach the end of their procurement cycle [29]. - **IVD Sector**: The report notes a 2.00% increase in the IVD sector, with a focus on AI-assisted diagnostics [30]. - **Blood Products**: The blood products sector is experiencing a 2.89% increase, with ongoing consolidation and product diversification [31]. - **Retail Pharmacy**: The offline pharmacy sector is expected to benefit from improved operational efficiencies through AI integration [34]. - **Healthcare Services**: The hospital sector has seen a 1.07% increase, with growth in specific medical fields like ophthalmology and reproductive health [36]. - **Traditional Chinese Medicine**: The sector is expected to recover as the impact of previous procurement policies diminishes [38]. - **CXO Sector**: The report indicates a positive outlook for the CXO sector, driven by increased demand for outsourcing in drug development [40].

Industry Investment Rating - The industry investment rating is "Outperform the Market" and is maintained [2] Core Viewpoints - The report emphasizes that policy support for listed companies through mergers and acquisitions is crucial for high-quality development, leading to ongoing industry consolidation [5][14] - The pharmaceutical and biotechnology sector has seen a weekly increase of 1.13%, outperforming the CSI 300 index by 0.25 percentage points, ranking 17th among 31 sub-industries [7][18] Summary by Sections 1. Weekly Viewpoint - The report highlights that recent policies have improved regulatory inclusiveness and relaxed competition restrictions, facilitating mergers and acquisitions [14] - Companies like Maipu Medical and Pilin Bio have announced plans for mergers and acquisitions, which are expected to enhance their technological capabilities and market positions [6][15] 2. Subsector Performance - The pharmaceutical and biotechnology sector has shown positive performance across all sub-sectors, with the raw materials and blood products sectors leading with a 2.89% increase [7][22] - The report suggests that the medical device sector has significant room for valuation growth, with a current P/E ratio of 37.55, below its historical average [26] 3. Recommended and Benefiting Stocks - Recommended stocks include Yingke Medical, Maipu Medical, and Yihua Jiaye, among others [8] - Benefiting stocks from the current trends include Shanhaishan, Yirui Technology, and Lianying Medical [8][27] 4. Detailed Subsector Analysis - **Medical Devices**: The sector is expected to benefit from policies promoting equipment upgrades and procurement, with a focus on AI integration in imaging and surgical applications [26] - **Medical Consumables**: The sector is projected to see steady growth as high-value consumables approach the end of their procurement cycle [29] - **IVD Sector**: The in vitro diagnostics sector is anticipated to recover as AI technologies enhance diagnostic capabilities [30] - **Blood Products**: The blood products sector is experiencing stable demand, with a projected 10.9% increase in plasma collection in 2024 [31] - **Retail Pharmacy**: The retail pharmacy sector is expected to see improved performance as market conditions stabilize and AI technologies enhance operational efficiency [34] - **Healthcare Services**: The healthcare services sector is showing signs of recovery, particularly in ophthalmology and reproductive health services [36] - **Traditional Chinese Medicine**: The sector is expected to benefit from improved consumer sentiment and demand for high-quality OTC products [38] - **CXO Sector**: The CXO sector is entering an upward cycle as companies report improved order growth and performance [40]

Core Viewpoint - The domestic chain pharmacy industry is experiencing significant challenges, transitioning from rapid expansion to a survival phase, with a focus on efficiency over scale [1][6][10]. Industry Overview - The chain pharmacy sector has shifted from a "land grab" phase to a "survival of the fittest" competition, with many stores closing or relocating due to poor performance [2][11]. - The number of retail pharmacies in China increased from 524,000 in 2019 to 667,000 in 2023, with projections of reaching 700,000 in 2024, indicating an oversupply situation [8][10]. Market Dynamics - In 2024, the number of closed pharmacies is expected to rise significantly, with quarterly closures projected at 6,778, 8,791, 9,545, and 14,114 respectively, marking the first negative growth in total pharmacy numbers in recent years [5][10]. - The rise of e-commerce and changing consumer habits have further pressured physical pharmacies, with online pharmacy sales expected to reach 75.8 billion yuan in 2024, growing by 14.4% year-on-year [8][10]. Financial Performance - In 2024, six listed chain pharmacy companies reported a collective decline in net profits, with only one company, Yifeng Pharmacy, showing growth [10][12]. - Major companies like Guoda Pharmacy have had to close numerous stores, with 1,273 direct stores and 389 franchise stores shut down in a short period [11][12]. Strategic Responses - To survive, many pharmacies are merging operations to reduce costs, with smaller chains collaborating to manage resources more efficiently [11][12]. - Major chains are adopting new strategies, including closing unprofitable stores and slowing expansion, as seen with Yifeng Pharmacy closing 1,078 stores in 2024 [12]. Future Directions - The future of pharmacies lies in diversification and service enhancement, with a shift towards health services beyond just selling medications [15][16]. - Companies are exploring models like "pharmacy + clinic" and expanding product offerings to include health-related items, aiming to create a more comprehensive service environment [15][16].

Group 1 - The retail pharmacy industry is undergoing a deep adjustment period due to the dual pressures of deepening pharmaceutical reforms and sluggish consumer spending, with overall growth rates hitting a five-year low [1] - Major chain pharmacies are shifting from scale expansion to refined operations, focusing on "diversification," "new retail," and "specialization" to build differentiated competitive advantages [1] - The transformation of the pharmaceutical retail industry is showing three major trends: accelerated layout of dual-channel pharmacies, continuous expansion of DTP specialty pharmacies, and gradual improvement of the new retail health service ecosystem [1] Group 2 - The new retail model has a penetration rate of 82.8% among households for medicine preparation, temporary purchases, and flash delivery services [1] - Leading chain pharmacies like Dazhenglin and Yixintang have initiated full-chain service capability construction to seize new retail transformation opportunities [1] - Cost control and efficiency improvement have become trends, with most chain pharmacies slowing down store expansion and focusing on enhancing the operational efficiency of existing stores [1] Group 3 - The digital pharmacy leader Yaoshi Bang has recently announced a strategic partnership with global collaborative robot leader Yuejiang Technology to integrate technologies such as pharmaceutical collaborative robots, AI models, and drug IoT into new retail scenarios [2] - The application of these technologies aims to enhance efficiency in prescription review and medication services, as well as to achieve full-process drug traceability management [2] - Automation technology is expected to become the core infrastructure for the new retail transformation of pharmacies, marking a fundamental shift from labor-intensive to technology-driven operations [2]