证券代码：603883 证券简称：老百姓 公告编号：2026-002 老百姓大药房连锁股份有限公司 第五届董事会第十三次会议决议公告 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。 一、董事会会议召开情况 （二）审议通过《关于聘任高级管理人员的议案》 表决结果：同意9票，反对0票，弃权0票，表决通过。 二、董事会会议审议情况 会议审议并通过了如下议案： （一）审议通过《关于非公开发行股票募投项目结项并将节余募集资金永 久补充流动资金的议案》 表决结果：同意 9 票，反对 0 票，弃权 0 票，表决通过。 截至 2026 年 1 月 21 日，公司 2021 年非公开发行股票募投项目累计使用募 集资金 159,548.78 万元，待支付的合同款项为 3,036.69 万元，预计节余募集 资金 11,307.87 万元（含募集资金利息净额），公司拟将上述节余募集资金（最 终以实际结转时募集资金专项账户扣除已签订合同待支付的募集资金后的实际 余额为准）永久补充流动资金，用于公司日常生产经营。 具体内容详见公司在上海证券交易所网站（ ...

"十五五"规划建议提出，完善促进消费制度机制，清理汽车、住房等消费不合理限制性措施。 从放宽购买限制到便利二手车交易流程，汽车消费领域政策不断"松绑"。今后老百姓买车用车能否更轻松？ 工人在贵州省贵阳市观山湖区一家汽车制造企业的车间内工作。新华社发（袁福洪 摄） 打通"购、用、换"等环节 清理消费领域不合理限制的核心，是消除阻碍消费潜力释放的"隐形门槛"。聚焦车辆"购、用、换"等全生命周期关键环节，一系列政策措施 精准发力，旨在激活百姓消费需求、为行业高效发展"松绑"。 优化限购措施，回应民生期盼—— 盘活存量市场，促进自由流通—— 二手车交易是汽车消费循环的关键一环。"曾经因限制多、流通堵等饱受诟病的二手车市场，正经历一场深刻的制度性变革。"重庆市汽车商 业协会常务副会长陈学勤表示，2022年17部门联合发文，在全国范围取消对符合国五排放标准的小型非营运二手车的迁入限制，促进二手车自由 流通和企业跨区域经营，让群众异地买卖二手车更方便。 中国汽车流通协会副秘书长郎学红介绍，近年来，多地积极推进落实二手车销售"反向开票"、异地交易登记等便利化措施，同时引导二手车 交易由经纪模式向经销模式转变，搭建二手车流通信 ...

Core Insights - The report discusses the development prospects and investment strategies of the Chinese chain pharmacy industry, highlighting key players and market dynamics [1][12]. Industry Overview - The chain pharmacy industry supply chain consists of upstream manufacturers, medical device producers, health product manufacturers, and pharmaceutical logistics suppliers; the midstream is represented by chain pharmacies, while downstream customers include both offline and online clients [1][2]. Key Players - Major listed companies in the chain pharmacy sector include Dazhonglin, Yifeng Pharmacy, and Laobaixing, among others [1][2]. Regional Distribution - Upstream suppliers are primarily located in Beijing, Jiangsu, Hubei, and Hunan, while chain pharmacy operations are concentrated in Hunan, Yunnan, Guangdong, and Shanghai [6]. Financial Performance - By the first half of 2025, three listed chain pharmacy companies, including Guoyao Holdings, Dazhonglin, and Yifeng Pharmacy, are projected to exceed 10 billion yuan in operating revenue, with gross margins above 15%, and Yifeng Pharmacy exceeding 40% [8][9]. Investment Trends - Since 2024, chain pharmacy companies have focused on increasing capital in subsidiaries and acquisitions to improve financial structures and expand sales channels [10]. - Notable investment activities include: - Jianzhijia's capital increase of 466 million yuan across five subsidiaries [11] - Yixintang's investment of 32.8 million yuan in land use rights [11] - Tongrentang's acquisition of a 51% stake in Honghui Pharmaceutical for approximately 10.46 million yuan [11].

为进一步扩大非遗影响力，彭清东调研后建议，在长沙洋湖水街打造省级非物质文化遗产及老字号示范 展示街区，通过"常驻展示+市州轮展"模式，带动全省非遗项目走向更广市场，助力乡村振兴与乡亲增 收。 ■三湘都市报全媒体记者 罗艾敏 【人物档案】 "当代表，就是要多调研，把老百姓的心里话带上会场。"彭清东深知偏远山村民生之难：老人看病不 便、道路狭窄泥泞、饮水环境待改善。他坚持走村串户听取民意，自费带队考察，把百姓的"小事"当作 履职"大事"。经他多方推动，村道得以拓宽，自来水入户全覆盖，卫生厕所普及，村级卫生室持续优 化，村民生活品质显著提升。 民生改善后，彭清东将重心转向富民产业。他聚焦土家织锦"西兰卡普"这一非遗技艺，创办企业推动产 品研发与市场拓展，让传统手艺成为留守妇女的"致富锦"。 彭清东，省人大代表。 冬日的龙山县洗车河镇克洞村，水泥路蜿蜒连通家家户户，路灯点亮村道；土家织锦工坊内，彩线在织 娘们手中翻飞，一幅幅精美的"西兰卡普"正徐徐成型……这些民生改善、产业兴旺的画面，是省人大代 表彭清东扎根乡村数十年的履职答卷。 ...

Core Viewpoint - The Chinese real estate market is experiencing a long-term adjustment, with average national housing prices dropping over 30%, and certain cities seeing declines exceeding 60% [1][3]. Group 1: Trends in the Real Estate Market - Trend 1: Housing prices are beginning to show differentiation across regions, with second and third-tier cities experiencing a slowdown in price declines, while first-tier cities are likely to face a correction [5][3]. - Trend 2: A dual-track system in real estate is expected to emerge, allowing low-income families to apply for affordable housing while middle and high-income families can opt for purchasing such properties [7][3]. - Trend 3: The construction of quality housing is anticipated to become mainstream, as buyer expectations rise and government encourages developers to focus on quality [9][3]. - Trend 4: The proportion of existing home sales is projected to increase, allowing buyers to inspect properties before purchase, thereby reducing the incidence of unfinished buildings [11][3]. Group 2: Future Market Outlook - By 2026, housing prices are likely to continue a trend of "steady decline," with the expectation that housing market bubbles will be eliminated, prompting consumers to prepare for a significant market shift [11][3].

Core Viewpoint - The A-share pharmaceutical retail sector is experiencing a significant rebound, driven by a new policy aimed at promoting high-quality development in the industry, which is expected to help around 700,000 pharmacies currently facing challenges [2][3]. Group 1: Industry Trends - The pharmaceutical retail industry is undergoing a wave of closures, with a projected net closure of 39,000 stores in 2024, significantly higher than the 3.8% closure rate in 2023 [5][6]. - The market is witnessing a shift from passive closures to proactive consolidation, as the new policy addresses industry pain points and encourages mergers and acquisitions [2][3][9]. - The concentration of the market is increasing, with the top 10 companies expected to reach a market share of over 35% by 2026, moving towards the levels seen in mature markets [9]. Group 2: Financial Performance - Major players in the industry are facing declining revenues and profits, with companies like YaoYao and GuoDa Pharmacy reporting significant drops in net profits, highlighting the financial strain on the sector [4][5]. - Only one out of six major private listed chains, Yifeng Pharmacy, is expected to achieve positive net profit growth in 2024, indicating a narrowing profitability landscape [5][6]. Group 3: Policy Impact - The new policy aims to standardize and optimize the merger and acquisition process, reducing costs and time for major chains, thus facilitating industry consolidation [7][9]. - The policy encourages a shift from a focus on drug sales to a broader health service model, aligning with changing consumer demands and promoting diversification in product offerings [8][9]. Group 4: Future Outlook - The industry is expected to evolve from merely selling drugs to becoming comprehensive health service providers, enhancing efficiency and better meeting consumer needs [10][11]. - The ongoing transformation is anticipated to eliminate inefficient capacities and elevate industry standards, marking a transition to a new phase of value growth [11].

Market Overview - The pharmaceutical commercial sector declined by 1.0% on January 28, with Renmin Tongtai leading the drop [1] - The Shanghai Composite Index closed at 4151.24, up 0.27%, while the Shenzhen Component Index closed at 14342.9, up 0.09% [1] Stock Performance - Notable gainers in the pharmaceutical sector included: - China Medicine (600056) with a closing price of 11.21, up 2.28% and a trading volume of 531,600 shares, totaling 593 million yuan [1] - Yixin Pharmacy (002727) closed at 14.09, up 0.64% with a trading volume of 220,100 shares, totaling 311 million yuan [1] - Major decliners included: - Renmin Tongtai (600829) closed at 12.35, down 4.93% with a trading volume of 432,700 shares, totaling 537 million yuan [2] - Saili Medical (603716) closed at 23.29, down 4.71% with a trading volume of 157,600 shares, totaling 374 million yuan [2] Capital Flow - The pharmaceutical commercial sector experienced a net outflow of 528 million yuan from institutional investors, while retail investors saw a net inflow of 603 million yuan [2] - The capital flow for key stocks showed: - China Medicine had a net inflow of 32.15 million yuan from institutional investors, but a net outflow of 15.57 million yuan from retail investors [3] - Shanghai Pharmaceutical (601607) had a net inflow of 9.01 million yuan from institutional investors, with a significant net outflow of 32.51 million yuan from retail investors [3]

【文/王力 编辑/周远方】 在效率至上、利润优先的商业世界里，一个根本性问题常被搁置：基于严谨科学、能真实改善生活的产品，其价值是否必然与高昂价格绑定？2026年初，于 河北金山岭长城脚下，上海家化旗下医学护肤品牌玉泽，用其23年的历程给出了坚定而温暖的答案。 这一答案的源头，需回溯至23年前。上海家化与瑞金医院皮肤科开启了一项看似"反效率"的合作。历经六年研发与上千例临床验证后，在定价的关键时刻， 上海交通大学医学院附属瑞金医院终身教授、玉泽首席科学家郑捷基于临床中对皮肤患者真实处境的深刻理解，坚决主张：医学护肤应服务于真正的皮肤健 康需求，是"雪中送炭"，而非"锦上添花"。也正是这一坚定选择，为品牌奠定了坚实的价值根基——产品的意义，不止于功效，更在于被真正需要的人所信 赖与使用。 而今最初的承诺已生长为坚实的体系。通过设立专项慈善基金形成"公益+科研"闭环，累计完成超5000例临床研究，并与全国40余家顶尖医院持续合作，玉 泽构筑起一道独特的"医研长城"。从最新推出的特润霜，到同步发布的《国民皮肤屏障健康绿宝书》，玉泽始终在践行同一个使命：让基于实证的医学护 肤，真正从实验室走向千家万户百姓，守护千万人 ...

Core Viewpoint - The recent naming event for two new rose varieties, "Wenxiu" and "Jiaolong," serves as a heartfelt tribute to grassroots leaders Huang Wenxiu and He Jiaolong, who dedicated their lives to poverty alleviation and community development, reflecting the public's deep appreciation for selfless service [1][3]. Group 1 - The naming of the roses symbolizes the enduring legacy of leaders who prioritize the welfare of the people, with the flowers representing hope and beauty in the fight against poverty and for rural revitalization [1][4]. - The emotional response from the public highlights a collective desire for more dedicated public servants like Wenxiu and Jiaolong, emphasizing the importance of commitment to serving the community [1][3]. Group 2 - The stories of Wenxiu and Jiaolong inspire a new generation, encouraging young individuals to pursue public service and embody values such as selflessness, optimism, and a sense of mission [3][4]. - The initiative to spread the "Wenxiu" and "Jiaolong" roses across the country aims to promote a culture of dedication and service, reinforcing societal values that prioritize the well-being of all citizens [4].

Core Viewpoint - The recent policy document issued by multiple government departments aims to promote high-quality development in the pharmaceutical retail industry, leading to a surge in stock prices of major pharmacy chains in the A-share market [1][3]. Group 1: Policy Measures - The policy document outlines 18 specific measures to enhance the pharmaceutical retail sector, focusing on professionalization, digitalization, and regulatory compliance [1]. - Key initiatives include improving pharmacy service capabilities, supporting mergers and acquisitions among retail pharmacies, and fostering a fair competitive market environment [2]. Group 2: Market Impact - The policy is expected to drive mergers and acquisitions, increasing industry concentration and facilitating the transition of pharmacies from "drug sales" to "comprehensive services" [2]. - Leading pharmacy chains such as Yifeng Pharmacy and Dacelins have seen significant stock price increases, with Yifeng's store count projected to exceed 14,666 by September 2025, and Dacelins operating 17,385 stores [3]. Group 3: Benefits to Other Companies - Other pharmaceutical companies like Shanghai Pharmaceuticals, China Resources Pharmaceutical, and Jiuzhoutong are anticipated to benefit from the integration of wholesale and retail operations, enhancing their revenue potential [3]. - The policy encourages retail pharmacies to enhance their service capabilities, which may benefit digital and supply chain service providers in the healthcare sector [4].