Core Viewpoint - 九州通 is strategically enhancing its layout in the health industry through investments in various funds and incubators, aiming for sustainable growth and innovation in the medical sector [1][2][3]. Group 1: Strategic Investments - 九州通's subsidiary, 九州众创孵化器, has committed 10 million yuan to establish the Wuhan Chuchang Tongda Industrial Investment Fund, holding a 7.14% stake in the fund [1][2]. - The total investment for the Chuchang Tongda Fund is 140 million yuan, with 九州众创孵化器 contributing 10 million yuan, while other partners include 武汉光创基金 and 北京点金, with respective contributions of 40 million yuan and 88 million yuan [2]. - The focus of these investments is on innovative medical devices, consumer healthcare, life sciences services, and biopharmaceuticals, aligning with the company's strategic goals [2][3]. Group 2: Financial Performance - In the first half of 2025, 九州通 reported revenue of 81.106 billion yuan, a year-on-year increase of 5.10%, and a net profit attributable to shareholders of 1.446 billion yuan, up 19.70% [5][6]. - The company achieved strong growth across various business segments, with pharmaceutical distribution generating 67.634 billion yuan in sales, a 6.04% increase, and digital logistics revenue rising by 24.66% to 5.87 billion yuan [6]. - The cash flow from operating activities increased by 380 million yuan compared to the previous year, indicating a positive outlook for the company's financial health [5][6]. Group 3: Industry Position - 九州通 is recognized as the largest private pharmaceutical enterprise in China and has been listed among the top 500 Chinese enterprises, ranking 181st in the 2025 list with a revenue of 151.8 billion yuan [1][4]. - The company has been focusing on its core business while exploring new retail and digitalization strategies, contributing to its stable growth in a challenging industry environment [5][6].

Group 1 - The company has established an industrial fund to promote the development of its incubator and meet industry demands for the "incubator + industrial fund" model [1] - The fund, named Beijing Zhihui Jiuzhou Venture Capital Partnership (Limited Partnership), will invest in pharmaceuticals, medical devices, medical aesthetics, and anti-aging sectors [1] - The fund has completed registration with the Asset Management Association of China and received the Private Investment Fund Registration Certificate on July 4, 2025 [2] Group 2 - The fund manager is Beijing Chuchang Private Fund Management Co., Ltd., and the custodian is Shanghai Pudong Development Bank Co., Ltd. [2] - The registration date for the fund is July 4, 2025, with the registration code SAXH03 [2] - The company will continue to monitor the fund's progress and fulfill its information disclosure obligations as required by relevant laws and regulations [2]

Overview - The article discusses the establishment of an industrial fund by a wholly-owned subsidiary of Jiuzhoutong Pharmaceutical Group in collaboration with professional investment institutions, which constitutes a related party transaction [1][2]. Fund Establishment and Related Transactions - The industrial fund, named Beijing Zhihui Jiuzhou Venture Capital Partnership, has a total subscribed capital of 25 million RMB, with Jiuzhoutong Incubator contributing 22.99 million RMB, representing 91.96% of the total [1][3]. - The investment aims to enhance the company's strategic layout in the pharmaceutical and technology sectors, focusing on areas such as pharmaceuticals, medical devices, and anti-aging [1][8]. Related Party Transaction Details - The investment constitutes a related party transaction as Chuchang Private Fund is a subsidiary of the company's controlling shareholder, Chuchang Investment Group, but does not qualify as a major asset restructuring [2]. - In the past 12 months, the company has engaged in related party transactions with Chuchang Private Fund totaling 336.54 million RMB [2]. Investment Partners - The general partner of the fund is Beijing Chuchang Private Fund Management Co., Ltd., while other limited partners include Jiuzhoutong Incubator and Ms. Xie Jiafang [3][4]. Fund Operations and Management - The fund will primarily focus on early-stage incubation projects in the pharmaceutical and technology sectors, with a planned investment period of 5 years and an optional extension of 2 years [4][5]. Financial Impact - The investment will be funded by the company's own resources and is not expected to adversely affect the company's operational activities or financial performance [8]. - The establishment of the fund is anticipated to enhance the company's core competitiveness in products, technology, and services by leveraging the advantages of the incubator and the capital provided by the fund [8]. Regulatory Compliance - The sponsor, CITIC Securities, has confirmed that the transaction complies with relevant regulations and does not require board or shareholder approval [8].