证券日报网讯12月12日，老百姓在互动平台回答投资者提问时表示，公司经营正常，业务运行良好。今 年第三季度的营收和净利润均已实现正增长。11月份以来，受流感影响，公司"四类药品"销售同环比增 长。 ...

Core Viewpoint - The company reported a steady improvement in its operational performance for Q3 2025, with revenue and net profit showing slight year-on-year growth, while also addressing the increased health demands due to a flu outbreak by ensuring stable supply of essential medications and protective supplies [1]. Group 1: Financial Performance - For Q3 2025, the company achieved a revenue of 5.296 billion yuan, representing a year-on-year growth of 0.07%, and a net profit attributable to shareholders of 131 million yuan, reflecting a year-on-year increase of 2.6% [1]. - The company has a total of 15,492 stores across 18 provincial markets and over 150 cities, with 9,741 being direct-operated and 5,751 being franchised [1]. Group 2: Supply Chain and Product Strategy - In response to the surge in health demands, the company leveraged its nationwide supply chain and store network to ensure the availability of four key types of medications and protective supplies, with sufficient inventory and stable prices [1]. - Sales of the four key medication categories have seen a month-on-month increase since November [1]. Group 3: Online Business Strategy - The company is focusing on a "category king + seasonal explosive products" strategy to enhance its online business competitiveness, transitioning from quantity to quality [2]. - Key initiatives include refined operations in core business districts using AI and automation, and a marketing platform shift from manual to data-driven management [2]. Group 4: Store Transformation and Customer Experience - The company has initiated a dual-line transformation of its stores, shifting from a transactional to a relational model, aiming to transform staff into trusted health advisors to enhance customer experience [3]. - Measures to improve service quality include restructuring service philosophies, optimizing performance metrics, and enhancing training programs for frontline staff [3]. Group 5: Industry Trends and Challenges - The industry is experiencing accelerated consolidation, with a net decrease of 3,166 stores in Q1 and 4,002 stores in Q2 of 2025, leading to a total of 695,000 stores [4]. - Stricter healthcare policies are pushing for higher compliance and quality in the industry, resulting in the exit of smaller, less compliant players, while larger chains are expected to benefit from this consolidation [4]. - The company aims to capitalize on these industry changes by integrating resources through franchising and alliances to increase market share [4].

Core Viewpoint - The company held a Q3 earnings presentation on December 2, 2025, to provide insights into its performance and address investor inquiries regarding various operational aspects and market conditions [1][2]. Group 1: Earnings Presentation Overview - The earnings presentation was conducted via a video live stream and included participation from key executives, allowing for direct communication with investors [2]. - The company reported a cash dividend of 0.14 yuan per share, totaling 1.06 billion yuan distributed to shareholders [5]. Group 2: Supply and Market Conditions - The company ensured a stable supply of four categories of medicines in response to increased health demands due to a flu outbreak, with sales showing a month-on-month increase since November [3]. - The industry is experiencing accelerated consolidation, with a net decrease of 3,166 and 4,002 pharmacies in the first and second quarters of 2025, respectively, leading to a total of 695,000 pharmacies [3][4]. Group 3: Strategic Initiatives - The company is focusing on enhancing its online business, achieving a 28% year-on-year growth in online sales for the first three quarters of 2025, and plans to implement strategies for quality improvement and operational efficiency [6]. - The company has initiated a dual-line transformation in its stores, aiming to shift staff roles from sales to health advisory positions, enhancing customer experience [8]. Group 4: Financial Performance and Future Outlook - The overall gross margin decreased in the first three quarters of 2025, primarily due to an increase in the sales proportion of lower-margin products, while core business segments maintained stable or improved margins [9]. - The company is implementing measures to optimize its sales structure and improve gross margins, including refining product offerings and enhancing procurement and logistics efficiency [9].

Core Viewpoint - The company is leveraging its nationwide supply chain and store network to meet the increasing public health demand for essential medications and protective supplies, ensuring stable supply and pricing [1] Group 1: Company Operations - The company has proactively deployed resources to secure a stable supply of four categories of medications: antiviral, antipyretic, cough relief, and antibiotics, along with masks and other protective supplies [1] - As of November, the sales of the four categories of medications have shown a month-on-month increase [1] Group 2: Market Position - The company reports that its nationwide stores have sufficient reserves of related medications and supplies, indicating a strong market position to handle increased demand [1]