证券代码：600129 证券简称：太极集团 公告编号：2024-021 重庆太极实业（集团）股份有限公司 2024 年第一次临时股东大会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 225 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 190,453,991 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 34.1995 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会由董事会召集，董事、总经理俞敏先生主持，本次会议的召集、 召开及表决方式均符合《公司法》及《公司章程》的有关规定。 (五) 公司董事、监事和董事会秘书的出席情况 1 (一) 股东大会召开的时间：2024 年 4 月 3 日 (二) 股东大会召开的地点：重庆市渝北区恒山东路 18 号公司 1201 楼会议室 (三 ...

[Table_StockInfo] 买入 2024年 03月 29日 （维持） 证券研究报告•2023年年报点评 当前价： 33.88元 太极集团（600129） 医药生物 目标价： ——元（6个月） 中药高速增长，毛利率持续提升 投资要点 西南证券研究发展中心 [T ab事le件_S：u公mm司a发ry布] 2023年年报，实现营业收入 156.23亿元（+10.6%），归母净 利润为8.2亿元（+132%），扣非归母净利润为7.7亿元（+111.4%）。 [分Ta析bl师e_：Au杜th向or阳] 执业证号：S1250520030002  收入端：工商业增速放缓，省外快速发展。2023 年工业收入 103.9 亿元 电话：021-68416017 （+19.4%），医药商业 77.3亿元（-3.3%）。具体来看，现代中药收入 66亿元 邮箱：duxy@swsc.com.cn （+31.6%），化药收入37.8亿元（+2.7%）。核心品种实现高速增长，太极藿香 分析师：阮雯 正气口服液22.7亿元，同比增长45%；急支糖浆8.8亿元，同比增长67%；通 天口服液 3.2亿元，同比增长 10%；鼻窦炎口服 ...

证券研究报告·公司点评报告·中药Ⅱ 太极集团（600129） 2023 年报点评：核心中药产品增长亮眼，净 2024 年 04月 02日 利率持续提升 证券分析师 朱国广 买入（维持） 执业证书：S0600520070004 zhugg@dwzq.com.cn [Table_EPS] 盈利预测与估值 2022A 2023A 2024E 2025E 2026E 股价走势 营业总收入（百万元） 14,127 15,623 18,036 20,594 23,433 同比 16.28% 10.58% 15.44% 14.19% 13.78% 太极集团 沪深300 归母净利润（百万元） 354.38 822.12 1,103.67 1,446.11 1,809.01 54% 46% 38% 同比 167.74% 131.99% 34.25% 31.03% 25.09% 30% 22% 14% EPS-最新摊薄（元/股） 0.64 1.48 1.98 2.60 3.25 6% -2% P/E（现价&最新摊薄） 52.25 22.52 16.78 12.80 10.24 --- 211 680 %%% [ [TT aab ...

公司报告 | 年报点评报告 太极集团（600129） 证券研究报告 2024年04月 01日 投资评级 业绩短期波动，分红彰显长期发展信心 行业 医药生物/中药Ⅱ 6个月评级 买入（维持评级） 当前价格 33.25元 事件： 目标价格 元 2024 年 3 月 29 日，太极集团披露 2023 年年度报告，2023 年公司实现营 业收入 156.23 亿元，同比+10.58%；实现归母净利润 8.22 亿元，同比 基本数据 +131.99%；实现扣非归母净利润 7.74 亿元，同比+111.35%。2023Q4 单季 A股总股本(百万股) 556.89 度公司实现营业收入34.4 亿元，同比-1.57%；归母净利润0.64亿元，同比 流通A股股本(百万股) 556.89 -35.73%；扣非归母净利润0.59亿元，同比+19.96%。公司拟向全体股东每 10股派发现金红利3.0元（含税），本年度不送红股，不进行资本公积金转 A股总市值(百万元) 18,516.62 增股本，年度分红金额占公司 2023 年度归属于上市公司股东的净利润比 流通A股市值(百万元) 18,516.62 例为20.32%。 每股净资产 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company achieved significant growth in its major products, with effective cost and expense management contributing to improved profitability [4][5] - The 2023 annual report indicates a revenue of 15.623 billion yuan, a year-on-year increase of 10.58%, and a net profit attributable to shareholders of 0.822 billion yuan, a year-on-year increase of 131.99% [3][4] Summary by Sections Financial Performance - In 2023, the company reported an industrial revenue of 10.388 billion yuan, up 19.40% year-on-year, with modern Chinese medicine revenue at 6.604 billion yuan, up 31.64% [5] - The major products, including Huoxiang Zhengqi Oral Liquid and Jizhi Syrup, saw substantial sales growth, with revenues of 2.271 billion yuan (up 45%) and 0.881 billion yuan (up 67%) respectively [5] Cost and Expense Management - The company effectively managed costs and expenses, with sales and management expense growth rates lower than the industrial revenue growth rate [5] - The company has paused some consistency evaluation R&D projects, leading to a provision for development expenditure impairment of 0.057 billion yuan in 2023 [5] Earnings Forecast - The forecast for net profit attributable to shareholders for 2024-2026 is adjusted to 1.218 billion yuan, 1.516 billion yuan, and 1.816 billion yuan respectively, with corresponding P/E ratios of 15.21, 12.21, and 10.20 [4][6]

证券研究报告：医药生物 | 公司点评报告 2024年3月30日 股票投资评级 太极集团(600129) 2023 年提质增效成效明显，2024 年数字化转型加 买入|首次覆盖 快提升经营质效 个股表现 ⚫ 事件点评 3 月 28 日，公司发布 2023 年年报：2023 年收入 156.23 亿元 太极集团 医药生物 71% （+10.58%），归母净利润8.22亿元（+131.99%），扣非净利润7.74亿 61% 元（+111.35%），经营现金流净额6.72亿元（-62.29%）。2023Q4收入 51% 41% 34.4亿元（-1.57%），归母净利润0.64亿元（-35.73%），扣非净利润 31% 21% 0.59亿元（+34.96%）。 11% 1% ⚫ 中药保持快速增长，省外拓展成效显著 -9% 2023年公司医药工业收入103.88亿元（+19.4%），其中现代中药 -19% -29% 66.04亿元（+31.64%，收入占比63.6%），化药37.84亿元（+2.72%）； 2023-03 2023-06 2023-08 2023-11 2024-01 2024-03 医药商业收入 77. ...

Investment Rating - The report does not explicitly state an investment rating for the company [1][4][6] Core Views - The company achieved robust growth in its pharmaceutical industry, with core products performing exceptionally well [1][2] - The company's revenue for 2023 was RMB 15.623 billion, a year-on-year increase of 11%, and net profit attributable to shareholders was RMB 822 million, a year-on-year increase of 132% [1] - The pharmaceutical industry segment generated revenue of RMB 10.388 billion, a year-on-year increase of 19.40%, with a gross margin of 64.74% [2] - Key products such as Taiji Huoxiang Zhengqi Oral Liquid and Jizhi Syrup showed significant sales growth, with increases of 45% and 67% respectively [2] - The company has a broad product portfolio covering key therapeutic areas, including digestive and metabolic drugs, respiratory drugs, and cardiovascular drugs [3] - The company is expected to achieve revenue of RMB 17.9 billion, RMB 20.7 billion, and RMB 23.9 billion in 2024, 2025, and 2026 respectively, with a compound annual growth rate (CAGR) of 26.29% for net profit attributable to shareholders [4] Financial Performance and Valuation - The company's revenue for 2023 was RMB 15.623 billion, with a net profit attributable to shareholders of RMB 822 million [1] - The company's EBITDA for 2023 was RMB 1.631 billion, and it is expected to reach RMB 3.316 billion by 2026 [5] - The company's EPS is projected to be RMB 1.98, RMB 2.52, and RMB 2.97 in 2024, 2025, and 2026 respectively [4] - The company's P/E ratio is expected to decrease from 22.5 in 2023 to 11.2 in 2026, indicating potential undervaluation [5] - The company's net profit margin improved from 2.42% in 2022 to 5.46% in 2023, and is expected to reach 7.17% by 2026 [8] Industry and Market Position - The company operates in the pharmaceutical and biological industry, specifically in the traditional Chinese medicine sector [6] - The company's products have strong brand value, with several products ranking first in their respective categories in the 2023 China OTC Drug Statistics Ranking [3] - The company is a leading player in the OTC traditional Chinese medicine market, with significant advantages in brand and product portfolio [4] Future Outlook - The company is expected to maintain strong revenue growth, with projected revenue increases of 14.79%, 15.51%, and 15.38% in 2024, 2025, and 2026 respectively [4] - The company's net profit attributable to shareholders is expected to grow at a CAGR of 26.29% over the next three years [4] - The company's profitability metrics, including ROE and ROIC, are expected to remain strong, with ROE projected to be 21.27% in 2026 [8]

本报告仅供 Choice 东方财富 使用，请勿传阅。 公司快报 2024 年 03 月 31 日 太 极集团(600129.SH) 证券研究报告 业绩符合预期，核心品种实现高增长 中成药 投资评级 买入-A 事件： 首次评级 2024 年 3 月 28 日，公司发布 2023 年年度报告。2023 年公司实现 6个月目标价 42.24元 营业收入 156.23 亿元，同比增长 10.58%；实现归母净利润 8.22亿 股价 (2024-03-29) 33.25元 元，同比增长 131.99%，实现扣非归母净利润 7.74 亿元，同比增长 111.35%。单季度来看，2023 年 Q4 公司实现营业收入 34.40 亿元， 交易数据 同比下滑 1.57%，实现归母净利润 0.64 亿元，同比下滑 35.73%， 总市值(百万元) 18,516.62 实现扣非归母净利润 0.59 亿元，同比增长 19.96%。 流通市值(百万元) 18,516.62 总股本(百万股) 556.89 业绩符合预期，现代中药实现高增长，首次拆分中药材资源业务。 流通股本(百万股) 556.89 根据公司 2024 年 1 月发布的业 ...

张忠喜先生的辞职不会导致公司董事会人数低于法定最低人数， 不会影响公司董事会的正常运作和公司的日常生产经营。根据《公司 法》《公司章程》的相关规定，张忠喜先生的辞职申请自送达公司董 事会之日起生效。公司将根据相关规定，尽快完成董事的补选工作。 证券代码：600129 证券简称：太极集团 公告编号：2024-020 重庆太极实业（集团）股份有限公司 关于董事辞职的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 担法律责任。 重庆太极实业（集团）股份有限公司（以下简称：公司）董事会 于 2024 年 3 月 28 日收到公司董事张忠喜先生提交的书面辞职申请。 因工作调动原因，张忠喜先生申请辞去公司董事、副总经理、董事会 审计委员会委员职务。辞职后，张忠喜先生不再担任公司任何职务。 截至本公告披露日，张忠喜先生未持有公司股份，亦不存在应履 行而未履行的承诺事项。 公司及公司董事会对张忠喜先生在任职期间为公司发展所做出 的贡献表示衷心感谢！ 特此公告。 重庆太极实业（集团）股份有限公司 2024 年 3 月 30 日 ...

Financial Performance - The company achieved operating revenue of 15.62 billion yuan in 2023, representing a year-on-year increase of 10.58%[24]. - Net profit attributable to shareholders reached 822.12 million yuan, a significant increase of 131.99% compared to the previous year[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 774.45 million yuan, reflecting a year-on-year growth of 111.35%[24]. - Basic earnings per share were 1.48 yuan, up 131.25% from 0.64 yuan in 2022[18]. - The weighted average return on equity increased to 23.82%, compared to 12.15% in the previous year[18]. - The company reported a total revenue of 16,600 million for the year, with a net profit of 1,310.43 million[113]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion yuan, representing a 20% year-over-year growth[116]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion yuan, representing a 15% year-over-year growth[117]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 3.0 CNY per 10 shares to all shareholders, totaling approximately 167.07 million CNY (including tax) based on a total share capital of 556,890,744 shares as of December 31, 2023[4]. - The company has held two shareholder meetings during the reporting period, ensuring equal voting rights for all shareholders[103]. - The company is committed to maintaining the interests of minority shareholders and has made amendments to its articles of association to enhance governance[103]. - The total number of ordinary shareholders as of the end of the reporting period was 26,909, down from 38,422 the previous month[199]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm, ensuring the authenticity and completeness of the financial report[3]. - The company is committed to ensuring the accuracy and completeness of the annual report, with management taking legal responsibility for its content[2]. - The company has not violated any regulatory decision-making procedures for external guarantees[6]. - The company has not reported any significant differences in governance compared to regulations set by the China Securities Regulatory Commission[105]. Risk Management - The company has outlined potential risks and corresponding countermeasures in the annual report management discussion and analysis section[6]. - The company faces significant risks from policy changes in the pharmaceutical industry, including centralized procurement and healthcare reforms, which may impact revenue and profit[101]. - The company is addressing market risks by improving its competitive capabilities and optimizing supply chain management[102]. Research and Development - The company launched 31 key R&D projects in 2023, including 16 traditional Chinese medicine projects, 14 chemical drug projects, and 1 biological drug project[31]. - The company has established strategic partnerships with over 20 universities and research institutions to enhance innovation and R&D capabilities[31]. - The company is focusing on R&D for anti-tumor, cardiovascular, and endocrine system drugs, while managing the risks associated with new drug development[102]. - Research and development expenses surged by 113.52% to approximately ¥233.62 million, compared to ¥109.42 million in the previous year, reflecting a significant increase in R&D investment[39]. Market Expansion and Strategy - The company expanded its international business, entering five new markets including the UAE and Italy, and obtained 21 relevant import/export certificates[27]. - The company aims to enhance its market presence in Southeast Asia, targeting a 20% increase in sales from this region[113]. - The company plans to enhance its digital marketing efforts, with an investment of 101.44 million aimed at increasing online sales channels[113]. - The company plans to establish at least 50 new key supplier partnerships and expand its direct sales pharmacy model by adding no less than 100 new franchise pharmacies in 2024[96]. Corporate Governance - The board of directors consists of 15 members, with 12 external directors and 5 independent directors, ensuring a majority of external and independent oversight[104]. - The company has established a long-term mechanism to prevent the controlling shareholder from occupying the company's funds and harming its interests, with specific provisions in the Articles of Association regarding "occupation equals freezing"[104]. - The company has implemented a communication mechanism with the controlling shareholder to ensure timely information disclosure[104]. Environmental and Social Responsibility - The company invested a total of 4,909,000 CNY in poverty alleviation and rural revitalization projects, benefiting 240,000 people[169]. - The company has established an environmental protection management system and developed emergency response plans for environmental incidents[163]. - The company achieved a reduction of 13,723 tons in carbon dioxide equivalent emissions through various decarbonization measures[164]. Financial Management - The company has established a comprehensive budget management system for subsidiaries, focusing on budget indicators and key tasks for performance evaluation[150]. - The company is committed to strengthening financial management and budget control, focusing on dynamic management and precise quantification of indicators[100]. - The company has implemented changes in accounting policies effective from January 1, 2023, impacting the recognition of deferred tax assets and liabilities[176].