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At the end of July, the detention and investigation of Xie Zilong, chairman of Laobaixing Pharmacy shocked the pharmacy industry. As a well-known figure in the chain drugstore field, Xie Zilong is the founder of Laobaixing Pharmacy. The Laobaixing Pharmacy he leads occupies an important position in the domestic chain drugstore field.

On July 31, Laobaixing Pharmacy closed at 13.89 yuan per share, down 5.06%.

On the evening of the previous trading day, the detention and investigation of Chairman Xie Zilong attracted much attention to Laobaixing Pharmacy.

The announcement shows that Laobaixing Pharmacy received a notice from the family of Xie Zilong, the actual controller and chairman of the company, on July 28. Xie Zilong's family received a notice issued by the Hunan Provincial Supervision Commission on July 28 that Xie Zilong was detained and investigated. The company does not know why Xie Zilong was detained and investigated. However, Laobaixing Pharmacy stated that the matters involved in the detention and investigation of the chairman have nothing to do with the company. Up to now, the company has not received any notice from the relevant authorities, nor has it been asked to assist in the investigation. The company is also not aware of the progress and conclusion of the above matters and will continue to pay attention to the follow-up situation. At present, the company's other directors, supervisors and senior management are performing their duties normally, and the above matters will not have a significant impact on the normal operation of the company. However, judging from the market performance on July 31, the share price of Laobaixing Pharmacy was still affected.

Born in 1966, Xie Zilon has also won many honors. He is a national model worker and the winner of the fifth national moral model nomination award (honesty and trustworthiness). He is a representative of the 11th, 12th and 14th National People's Congress, a member of the Central Committee of the China Democratic National Construction Association, deputy chairman of the Hunan Provincial Committee, honorary president of the China Pharmaceutical Materials Association, vice president of the China Pharmaceutical Commerce Association, and president of the Hunan Pharmaceutical Distribution Industry Association.

Xie Zilong's most well-known achievement is the Laobaixing Pharmacy he founded. Since its establishment in 2001, the company has frequently expanded its regional market and number of stores through mergers and acquisitions. After the company entered the capital market in 2015, its expansion is still accelerating. Since 2015, Laobaixing Pharmacy has acquired regional leaders through the "Spark" model that retains part of the equity of the original founder, achieving cross-provincial expansion and deepening its advantageous markets. By the end of 2023, the company has built a marketing network covering 18 provinces and more than 150 prefecture-level cities across the country, with a total of 13,574 stores, including 9,180 directly-operated stores and 4,394 franchise stores, becoming a chain pharmacy in the field of chain pharmacies that is as famous as Yixintang and Dasanlin. The company has also won the "Top 100 Chinese Pharmaceutical Retail Enterprises Comprehensive Competitiveness List" of the Xipu Association for 11 consecutive times, and has also won the "China Pharmaceutical Retail Enterprise Comprehensive Competitiveness Brand Power" championship.

In 2023, Laobaixing Pharmacy achieved revenue of 22.437 billion yuan, a year-on-year increase of 11.21%, and net profit of 929 million yuan, a year-on-year increase of 18.35%. Xie Zilong and Chen Xiulan are the actual controllers, of which Xie Zilong directly holds 18.28% of the shares and Chen Xiulan holds a total of 9.61% of the shares. The individual directly holds 1.78% of the shares and voting rights of Laobaixing Pharmacy.

During his tenure as a member of the National People's Congress, Xie Zilon suggested strengthening the supervision of online drug sales, accelerating e-commerce legislation, and promulgating the "Pharmacist Law" as soon as possible to strengthen the systematic management of practitioners and promote the construction of a national safe drug use ecosystem.

Photography is one of Xie Zilong's hobbies. Public information shows that Xie Zilong is the chairman of the Hunan Photographers Association. His works "Glorious Workers", "Field Dancers" and "Chinese Stories in Film" won the highest individual achievement award in the Chinese photography industry - the Golden Image Award (Art Photography Category). He also personally invested 150 million yuan to build the Xie Zilong Image Art Museum. The annual report of Laobaixing Pharmacy shows that Xie Zilong serves as the executive director and general manager of Hunan Xie Zilong Image Art Museum Co., Ltd.

Beijing News reporter Zhang Xiulan

Proofread by Lucy