云南白药：2025年年度报告（英文版）

Annual Report2025 March 2026 2025 Annual Report Section IImportant Notes, Contents, andDefinitions The Board of Directors(the “Board”),the directors and senior management of the Companyconfirm the truthfulness, accuracyand completeness of the contents of this Annual Report and thereare no misrepresentations, misleading statementsor material omissionsfrom this Annual Report, andthey accept joint and several responsibilities for the truthfulness, accuracy and completeness of thecontents herein. Mr.Zhang Wenxue, the person in charge of the Company, Mr. Ma Jia, the accounting officer, andMs. Xu Jing, the head of accountingcenter (accounting supervisor),hereby declare that they warrantthe truthfulness, accuracy, andcompleteness of the financial statements in this Annual Report. All directors of the Company attended the Board meeting in respect of considering and approvingthis Annual Report. The Company kindly requests investors to read throughthis Annual Report and pay specialattention to “XI. Outlook of the Company” in the “Section III Management Discussion and Analysis.”Thispart does not constitute oursubstantialcommitments to investors.Investors are advised to payattention to investment risks. The cash dividend to be implemented this time will be combined with the special dividend alreadydistributed in 2025. The total accumulated cash dividends for 2025 represent 90.09% of the net profitattributable to shareholders of the listed company for 2025, with the total accumulated cash dividendsamounting to RMB 4,642,651,293.01 (tax inclusive). The Company completed the distribution of the2025 special dividend profits in September 2025, distributing cash of RMB 10.19 per 10 shares (taxinclusive), with total cash dividends amounting to RMB 1,818,163,592.46 (tax inclusive). The Company’s 2025 annual profit distribution plan is as follows:Based on the total share capitalofthe Company of1,784,262,603 sharesasat the end of 2025, the Company proposes to distribute cashdividends of RMB 15.83 per 10 shares (tax inclusive) to all shareholders, with no bonus shares issuedand no capital reserve to increase the share capital. This report has been prepared in Chinese and translated into English.Should there be anydiscrepancies or misunderstandings between the two versions, the Chinese version shall prevail. Contents Section IImportant Notes, Contents, andDefinitions.............................................1SectionIICompany Profile and Key FinancialIndicators.....................................5Section IIIManagement Discussion and Analysis..................................................10Section IVCorporate Governance, Environmental, and Social Responsibility..66Section V Significant Events...................................................................................108Section VIChanges in Shareholdings and Particulars about Shareholders.....135Section VII Bonds....................................................................................................145SectionVIIIFinancial Statements.........................................................................146 Documents Available forInspection (I)Financial statements affixed with the signatures and stamps of the person incharge of the Company, the accounting officer,andthe generalmanager of FinancialManagement Department; (II) Originals of the audit report containing the stamps of the external accountingfirm and the signatures and stamps of the registered accountants; (III)Originals of all the Company’s documents and announcements publiclydisclosed on theSecurities Times,Shanghai Securities News,China Securities Journal,andhttp://www.cninfo.com.cnduring the reporting period; (IV)Other relatedmaterials. Definitions SectionII Company Profile and Key FinancialIndicators I. Company Profile II.Contact Person and ContactInformation III. Information Disclosure and Location IV. Changes in Registration V. Other Information The accounting firm engaged by the Company The sponsor engaged by the Company to perform continuous supervision duties during the reporting period □ApplicableRNot applicable The financial advisor engaged by the Company to perform continuous supervision duties during the reporting period VI. Key Accounting Data and Financial Indicators Whether the Company needsretroactive adjustment or restatement of accounting data in prior years or not □YesRNo The lower of the Company’s net profits before and after deducting non-recurring profits and losses inthe latest three accounting yearsare all negative, and the Company’s audit report for the previous year shows uncertainties in the Company’s ability to continue as agoing concern □YesRNo During the reporting period, the lower of the Company’saudited total profit, net profit, and net profit after deducting non-recurringgains and losses was negative □YesRNo Total share capital of the Company as of the trading day prior to the disclosure: Fully diluted earnings per share calcula