Industry Overview - The Ministry of Commerce and nine other departments issued opinions on promoting high-quality development in the retail pharmaceutical industry, supporting mergers and acquisitions among retail pharmacies [1] - The retail pharmacy sector is expected to accelerate its consolidation by 2025, with customer traffic likely concentrating towards leading players [1] - As of the end of Q3 2025, the total number of pharmacies in China is projected to be 686,426, reflecting a net decrease of nearly 20,000 stores since Q4 2024 [1] - The number of pharmacies has shown negative growth for four consecutive quarters, indicating a rapid contraction in the industry [1] Company Insights - Lao Bai Xing is recognized as one of the leading retail pharmacy chains in China, primarily engaged in the sale of pharmaceuticals and health-related products through its marketing network [1] - Yifeng Pharmacy focuses on the retail of pharmaceuticals, health products, medical devices, and daily convenience items related to health [1]

经济观察网1月22日，商务部等九部门发布关于促进药品零售行业高质量发展的意见。其中提到，支持 零售药店进行兼并重组。鼓励药品零售企业依法开展横向并购与重组。鼓励各地优化营商环境，对于被 整合的连锁或单体药店，优化《药品经营许可证》申请核发流程。涉及医保资质变更的，允许原医保资 质继续存续和使用，新医保资质正式开通后，注销原医保资质。 ...