Group 1 - The company held its sixth supervisory board's seventh meeting on April 10, 2025, via communication, with all three supervisors present, and the meeting was deemed legal and effective [2][3]. - The supervisory board approved the proposal to waive the notification period for the meeting and agreed to sell the 100% equity of its wholly-owned subsidiary, Zhejiang Shapu Aisi Pharmacy Chain Co., Ltd., to Jiaxing Wanshoutang Pharmaceutical Chain Co., Ltd. for 500,000 RMB [4][8]. Group 2 - The decision to sell the subsidiary was made due to its continuous losses and misalignment with the company's strategic direction, aiming to focus on core business and optimize asset structure [9][34]. - The transaction does not constitute a related party transaction or a major asset restructuring as defined by regulations, and it does not require shareholder approval [10][34]. Group 3 - The target company, Zhejiang Shapu Aisi Pharmacy Chain Co., Ltd., was established in September 2015 with a registered capital of 10 million RMB and has been facing operational challenges [14][15]. - The transaction will not significantly impact the company's overall business development and is expected to enhance asset disposal returns while protecting shareholder interests [34].

新华财经上海4月2日电（记者杜康）2024年，中国生物医药行业在对外许可方面交易活跃，很多国际知 名大药企和基金都来中国寻找创新药研发资产。同步，国家出台了大量政策，支持创新药发展，一些企 业也成功融资或上市。 尽管如此，中国的医药企业仍然面临较大的压力。近日，在接受采访时，复星医药董事长吴以芳用"春 寒料峭"来形容当前行业所处阶段，"聚焦"和"瘦身"也成为他反复提及的两个关键词。"当行业才刚刚开 始出现复苏迹象的时候，风险和不确定性仍在存在。企业依然面临收入端增长和盈利端下行的压力。愈 是此时，我们愈要保持战略上的冷静和理智，保持财务健康。" 可以看到，2024年，复星医药迎来了经营现金流和自由现金流的大幅改善。在经历了连续两年下跌之 后，公司净利润也再次迎来正增长。 瘦身后"轻装上阵" 复星医药更"聚焦"创新 年报显示，2024年，复星医药实现营业收入410.67亿元，同比微降0.8%；归母净利润27.70亿元，同比 增加16.08%。复星医药经历了连续两年的净利润下滑后，重回正增长。 净利润重回正增长的背后，可以看到复星医药的战略调整，正在通过"瘦身"以更加聚焦主业。此前很长 一段时期内，复星医药依靠投 ...

Core Insights - The company aims to continue divesting non-core, non-strategic, low-efficiency, and loss-making assets by 2025 to enhance cash flow [1][2][3] - In 2024, the company reported a revenue of 41.067 billion yuan, a year-on-year decrease of 0.8%, while net profit attributable to shareholders increased by 16.1% to 2.77 billion yuan [1] - The operating cash flow for 2024 was 4.48 billion yuan, reflecting a year-on-year growth of 31.1%, surpassing the growth rate of operating profit [1] Asset Management Strategy - The company has been actively selling assets to replenish working capital and repay interest-bearing debts, including the sale of a 6.01% stake in Gland Pharma for a total consideration of 211 million USD [2] - In March 2025, the company announced the sale of 9.4 million shares of Unicorn II Holdings Limited for 124 million USD, resulting in a complete exit from the company [2] - The company has recognized the need to streamline its asset portfolio, focusing on core business areas to improve asset efficiency and structure [3] Financial Health - As of the end of 2024, the company's debt-to-asset ratio was 48.98%, a slight decrease from 50.10% at the end of 2023, indicating ongoing debt pressure [3]