行业主要公司：国药控股(01099.HK);上海医药(601607.SH);华润医药(03320.HK);九州通(600998.SH);南京医药(600713.SH);华东医药(000963.SZ);英特集团(000411.SZ)等 本文核心数据：医药流通融资规模;医药流通投资规模 企业投融资趋于谨慎 2014-2024年医药流通行业投资规模先增后降，投资数量最活跃的阶段是2014-2017年，金额最高的是2019-2021年，2022年开始投资数量和金额双降。2024年投资数量为9件，投资金额为 从单笔投资金额来看，2014-2020年单笔投资金额波动上升，从1.1亿元/件上升至7亿元/件，2021年开始单笔投资金额波动下降，2023年再次回升至3.2亿元/件。2024-2025年投资金额为 企业投融资部分事件汇总 | 时间 | ग्रहरू | 企业简介 | 轮次 | 金额 | 投资方 | | --- | --- | --- | --- | --- | --- | | 2025/6/16 | 中吉智药 | 基因治疗创新药物研发商 | B轮 | 未透露 | 博通资本 | | 2025/5/7 | 阿康健康 ...

Core Insights - The investment scale in the pharmaceutical distribution industry has shown a trend of increasing and then decreasing from 2014 to 2024, with the most active investment phase occurring between 2014 and 2017, and the highest investment amount recorded from 2019 to 2021. Since 2022, both the number and amount of investments have declined, with 2024 seeing 9 investments totaling 420 million yuan [1][2]. Investment Trends - From 2014 to 2020, the average single investment amount increased from 110 million yuan to 700 million yuan, but began to fluctuate downwards from 2021, with a rebound to 320 million yuan in 2023. Investments in 2024 and 2025 are expected to be in the million yuan range [2]. Financing Events Summary - A summary of financing events from 2024 to 2025 shows various companies receiving investments, with notable amounts such as 150 million yuan for Zhengshe Pharmacy and 600 million yuan for Huaren Biopharma [6][7][8]. Financing Rounds - The majority of financing rounds from 2021 to 2025 are strategic investments, accounting for 37% of total investments, indicating a trend towards business transformation and enhanced bargaining power through regional network integration. A rounds account for 17.7%, while B and C rounds are also prevalent [9]. Investment Entities - Private Equity (PE) and Venture Capital (VC) firms dominate the investment landscape, making up 73% of the total investment entities, followed by enterprises at 17%. This trend is driven by the need for substantial capital to support chain expansion and acquisitions, as traditional bank loans are insufficient [10]. Investment Destinations - The primary destinations for investment in the pharmaceutical distribution sector are Beijing (27%), followed by Shanghai (16%), Guangdong (13%), and Zhejiang (10%). These regions are characterized by strong economic development and high demand for pharmaceutical distribution [12]. Fund Management Capabilities - Several funds are actively investing in the pharmaceutical distribution sector, including the Shanghai Comprehensive Reform Fund and the National Mixed Ownership Fund, with management scales exceeding 50 billion yuan. Most of these funds are backed by state and local government resources, indicating strong management capabilities [13][17].