Core Viewpoint - 九州通's stock performance on October 23 showed no change, with a trading volume of 116 million yuan, indicating a stable market position despite fluctuations in financing activities [1] Financing Summary - On October 23, 九州通 had a financing buy-in amount of 9.31 million yuan and a financing repayment of 16.99 million yuan, resulting in a net financing outflow of 7.68 million yuan [1] - The total financing and securities lending balance for 九州通 as of October 23 was 721 million yuan, with the financing balance at 714 million yuan, accounting for 2.83% of the circulating market value, which is below the 30th percentile of the past year [1] - In terms of securities lending, 九州通 repaid 181,700 shares and sold 11,000 shares on October 23, with a selling amount of 55,100 yuan, while the remaining securities lending volume was 1.37 million shares, with a balance of 6.88 million yuan, exceeding the 90th percentile of the past year [1] Business Overview - 九州通, established on March 9, 1999, and listed on November 2, 2010, is based in Wuhan, Hubei Province, and operates in six main business areas: digital pharmaceutical distribution and supply chain, general brand promotion, pharmaceutical manufacturing and OEM, retail and franchise, digital logistics and supply chain solutions, and healthcare and technology value-added services [1] - The revenue composition of 九州通's main business includes: distribution segment 95.94%, industrial segment 1.96%, retail segment 1.84%, healthcare segment 0.17%, and other segments 0.08% [1] Financial Performance - As of June 30, 九州通 reported a total of 41,700 shareholders, a decrease of 12.92% from the previous period, with an average of 120,824 circulating shares per shareholder, an increase of 14.84% [2] - For the first half of 2025, 九州通 achieved an operating income of 81.11 billion yuan, a year-on-year increase of 5.10%, and a net profit attributable to shareholders of 1.45 billion yuan, reflecting a year-on-year growth of 19.70% [2] Dividend Information - 九州通 has cumulatively distributed dividends of 5.27 billion yuan since its A-share listing, with 2.91 billion yuan distributed over the past three years [3] Institutional Holdings - As of June 30, 2025, Hong Kong Central Clearing Limited was the seventh largest circulating shareholder of 九州通, holding 90.25 million shares, an increase of 8.74 million shares from the previous period [3]

Core Viewpoint - 九州通 has shown stable financial performance with a slight increase in revenue and net profit, while its financing activities indicate a low level of borrowing compared to historical data [1][2]. Group 1: Financial Performance - As of June 30, 九州通 reported a revenue of 81.11 billion, representing a year-on-year growth of 5.10% [2]. - The net profit attributable to shareholders for the same period was 1.446 billion, reflecting a year-on-year increase of 19.70% [2]. - Cumulative cash dividends since the A-share listing amount to 5.267 billion, with 2.911 billion distributed over the past three years [3]. Group 2: Shareholder and Market Activity - As of June 30, 九州通 had 41,700 shareholders, a decrease of 12.92% from the previous period [2]. - The average number of circulating shares per shareholder increased by 14.84% to 120,824 shares [2]. - The financing balance as of September 24 was 7.55 billion, accounting for 3.03% of the market capitalization, which is below the 30th percentile of the past year [1]. Group 3: Trading and Borrowing Activities - On September 24, 九州通 had a net financing outflow of 1.1055 million, with a total financing and securities balance of 760 million [1]. - The company experienced a high level of short selling, with a borrowing balance of 5.5275 million, exceeding the 90th percentile of the past year [1].

Group 1 - The core viewpoint of the news is that Jiuzhoutong has shown stable financial performance with a slight increase in revenue and net profit, while also experiencing changes in stockholder dynamics and financing activities [2][3]. Group 2 - As of June 30, Jiuzhoutong reported a revenue of 81.11 billion, representing a year-on-year growth of 5.10%, and a net profit attributable to shareholders of 1.446 billion, which is a 19.70% increase compared to the previous year [2]. - The company has a total of 41,700 shareholders, a decrease of 12.92% from the previous period, while the average circulating shares per person increased by 14.84% to 120,824 shares [2]. - Jiuzhoutong has cumulatively distributed dividends of 5.267 billion since its A-share listing, with 2.911 billion distributed in the last three years [3]. - As of June 30, 2025, Hong Kong Central Clearing Limited is the seventh largest circulating shareholder, holding 90.2499 million shares, an increase of 8.7397 million shares from the previous period [3]. Group 3 - On August 26, Jiuzhoutong's stock price remained unchanged at 0.00%, with a trading volume of 319 million [1]. - The financing buy-in amount on that day was 38.9818 million, while the financing repayment was 19.9517 million, resulting in a net financing buy-in of 19.03 million [1]. - The total balance of margin trading and securities lending for Jiuzhoutong reached 642 million, with the financing balance accounting for 2.32% of the circulating market value, which is below the 20th percentile level over the past year [1]. - In terms of securities lending, Jiuzhoutong repaid 3,300 shares and sold 191,700 shares, with a selling amount of 1.0428 million, while the remaining securities lending volume was 912,600 shares, exceeding the 90th percentile level over the past year [1].