Laobaixing Pharmacy

The first batch of demonstration cases under the Shanghai Stock Exchange's Quality and Efficiency, Return Enhancement 2.0 special initiative has been released, with more than 10 Shanghai-listed companies setting quantitative targets around core indicators such as revenue, profit, R&D, output, buybacks, and dividends, and disclosing specific plans. These companies include CRRC, Guangxi Guiguan Electric Power, Ningbo Zhoushan Port, Eastroc Beverage, Jinshi Resources, Sepax Technologies, Anhui Heli, Haier Biomedical, Jiangsu Expressway, Laobaixing Pharmacy, and Jointown Pharmaceutical. Among them, Ningbo Zhoushan Port has set a 2026 cargo throughput target of 1.25 billion tonnes and a container throughput target of 57.65 million TEU, both up from 2025 levels. Sepax Technologies, using 2025 as the base year, has proposed a 25% revenue growth target and a 33% net profit growth target for 2026. Haier Biomedical aims to raise the share of overseas revenue from 36% in 2025 to above 50% within three years, and to lift the contribution of M&A revenue from 30% to above 40%. Raising dividend payout ratios, increasing dividend frequency, and implementing shareholding increases and buybacks have also become common choices for many companies. Jinshi Resources and Haier Biomedical, among others, have rolled out three-year shareholder return plans covering 2026 to 2028. Ningbo Zhoushan Port, Guangxi Guiguan Electric Power, and Eastroc Beverage have respectively proposed 2026 dividend payout ratios of no less than 65%, 70%, and 80%. Jiangsu Expressway has specified a change from one dividend per year to two dividends per year, and Anhui Heli plans to increase dividend frequency through measures such as interim dividends. In addition, several companies have set quantitative targets for increasing the frequency and forms of investor communication, and have formulated ESG-specific goals and implementation paths. Ningbo Zhoushan Port has also proposed governance-related targets such as independent directors spending no fewer than 15 days on-site in 2026.

LBX Pharmacy has disclosed a dual incentive plan consisting of restricted stock and an employee stock ownership plan, setting high growth targets requiring net profit in 2027 and 2028 to increase by no less than 75 percent and 100 percent respectively, based on the 2025 net profit. The company plans to grant a total of 14.337 million shares to over 340 incentive recipients, with vesting conditions tied to substantial net profit growth, corresponding to a net profit of 946 million yuan in 2027 and 1.081 billion yuan in 2028. At the same time, the company has launched a share buyback program of 40 million to 80 million yuan, with a repurchase price not exceeding 18.08 yuan per share, and the repurchased shares will be used for the employee stock ownership plan and equity incentives. Boosted by this news, LBX Pharmacy's share price hit the daily limit up on August 11, closing at 14.01 yuan per share, with a total market capitalization exceeding 10.6 billion yuan.

Laobaixing has unveiled its 2026 restricted stock incentive plan, proposing to grant 9.78 million restricted shares, representing approximately 1.29% of the company's total share capital of 759 million shares, at a grant price of 6.37 yuan per share. The incentive targets no more than 230 individuals, including directors, senior management, middle management, and core staff. In the first quarter of 2026, the company achieved revenue of 5.481 billion yuan and net profit attributable to the parent company of 264 million yuan.

LBX Pharmacy announced plans to repurchase shares through centralized bidding, with an expected buyback amount of 40 million to 80 million yuan. The maximum repurchase price is set at 18.08 yuan per share, translating to approximately 2.21 million to 4.42 million shares, or 0.29% to 0.58% of total share capital. In the first quarter of 2026, the company reported revenue of 5.481 billion yuan and net profit attributable to the parent of 264 million yuan.

Chengdu Shuangliu Laobaixing Internet Hospital Company Limited, wholly owned by Laobaixing, was recently established, with Liu Daoxin as its legal representative. The company's business scope includes internet hospital services relying on physical hospitals, medical services, internet information services, and the sale of Class II medical devices.