Core Viewpoint - Dazhonglin continues to demonstrate robust operational performance with significant revenue and profit growth, leveraging strategic initiatives to enhance market presence and operational efficiency [1][2][3][4][5] Group 1: Financial Performance - In 2024, Dazhonglin achieved a revenue of 26.497 billion yuan and a net profit of 915 million yuan, maintaining a steady operational trend [1] - For Q1 2025, the company reported a revenue of 6.956 billion yuan, a year-on-year increase of 3.02%, and a net profit of 460 million yuan, up 15.45% [1] - The operating cash flow for Q1 2025 reached 1.768 billion yuan, reflecting a significant year-on-year growth of 44.14% [1] Group 2: Market Expansion and Strategy - Dazhonglin is expanding its market presence through a combination of self-built stores, acquisitions, and direct franchise models, covering 21 provinces and achieving 67.7% of China's provincial administrative regions [2] - The company plans to focus on increasing market share in already covered provinces while enhancing its scale effects [2] - As of March 31, 2025, Dazhonglin had a total of 16,622 stores, with a net increase of 2,479 stores in 2024 and 69 stores in Q1 2025 [2] Group 3: Business Model and Innovation - Dazhonglin is adapting to changes in healthcare policies and consumer trends by implementing various models such as O2O, chronic disease management, and drug service offerings [3] - The company has maintained a compound annual growth rate (CAGR) of 19.94% in revenue from 7.421 billion yuan in 2017 to 26.497 billion yuan in 2024, and a CAGR of 9.82% in net profit from 475 million yuan to 915 million yuan during the same period [3] Group 4: Digital Transformation and AI Integration - Dazhonglin is actively exploring new retail business models and has established a comprehensive online and offline retail ecosystem, which is a key driver of its revenue growth [4] - The company has implemented AI technology to enhance operational efficiency and customer service, including the deployment of "AI Xiaosan" for real-time support and intelligent customer service analysis [5] - The integration of AI has improved customer experience and operational management quality, showcasing the company's potential in leveraging technology for growth [5]

国泰君安证券股份有限公司 关于 上海开开实业股份有限公司 向特定对象发行 A 股股票 之 上市保荐书 保荐人（主承销商） （中国（上海）自由贸易试验区商城路 618 号） 二〇二五年二月 上海开开实业股份有限公司向特定对象发行股票申请文件 上市保荐书 声 明 国泰君安证券股份有限公司（以下简称"国泰君安"、"保荐人"）接受上海 开开实业股份有限公司（以下简称"开开实业"、"发行人"或"公司"）的委托， 担任开开实业 2024 年度向特定对象发行 A 股股票的保荐人及主承销商。 国泰君安及保荐代表人根据《中华人民共和国公司法》（以下简称"《公司法》"） 《中华人民共和国证券法》（以下简称"《证券法》"）《上市公司证券发行注册管 理办法》（以下简称"《注册管理办法》"）等有关法律、行政法规和中国证券监督 管理委员会（以下简称"中国证监会"）及上海证券交易所（以下简称"上交所"） 的有关规定，诚实守信，勤勉尽责，严格按照依法制订的业务规则和行业自律规 范出具上市保荐书，并保证所出具文件真实、准确、完整。 （本上市保荐书中如无特别说明，相关用语与《上海开开实业股份有限公司 向特定对象发行 A 股股票募集说明书（申报稿 ...