Investment Rating - The investment rating for the company is "Buy" based on the performance relative to the market index [6]. Core Insights - The company reported a revenue of 652.94 million yuan for the first nine months of 2024, representing a year-on-year increase of 23.67%. The net profit attributable to shareholders was 115.28 million yuan, up 36.43% year-on-year, and the net profit after deducting non-recurring items was 108.52 million yuan, reflecting a growth of 48.65% [3][2]. - The gross profit margin for the company was 84.37% for the first nine months of 2024, an increase of 2.44 percentage points year-on-year, while the net profit margin was 17.66%, up 1.65 percentage points year-on-year [2][3]. - The company has been strengthening its sales foundation, leading to stable growth in sales volume of existing products and rapid expansion in sales of new products. Key products are participating in national procurement, which is expected to enhance sales further [3]. Financial Summary - For the third quarter of 2024, the company achieved a revenue of 220.46 million yuan, a year-on-year increase of 33.13%, and a net profit of 35.09 million yuan, up 178.04% year-on-year [2]. - The company’s financial metrics for the first nine months of 2024 include a gross profit margin of 83.94%, a net profit margin of 15.92%, a sales expense ratio of 43.75%, a management expense ratio of 6.44%, a research and development expense ratio of 14.95%, and a financial expense ratio of 0.31% [1][2].

公司于 2024 年 7 月 26 日召开了第四届董事会第六次会议、2024 年 8 月 27 日 召开了 2024 年第二次临时股东大会，审议通过了《关于减少注册资本、修改<公 司章程>的议案》，同意公司注册资本由原 78,245,040 元相应减少至 78,210,660 元， 同时修改《江苏德源药业股份有限公司章程》中与注册资本、股本等相关条款并 办理工商变更登记、备案相关事宜。具体内容详见公司于 2024 年 7 月 29 日在北 京证券交易所网站（www.bse.cn）刊登的《江苏德源药业股份有限公司关于拟修订 <公司章程>的公告》，公告编号：2024-059。 证券代码：832735 证券简称：德源药业 公告编号：2024-081 江苏德源药业股份有限公司 关于完成工商变更登记和公司章程备案的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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个别及连 带法律责任。 一、基本情况 江苏德源药业股份有限公司（以下简称"公司"）实施 2021 年限制性股票激 励计划，第三个解除限售期已于 2024 年 7 月 26 ...

证券代码：832735 证券简称：德源药业 公告编号：2024-080 江苏德源药业股份有限公司 回购股份注销完成暨股份变动公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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个别及连 带法律责任。 | 类别 | 注销前 | | 注销后 | | | --- | --- | --- | --- | --- | | | 数量（股） | 比例（%） | 数量（股） | 比例（%） | | 1.有限售条件股份 | 9,073,553 | 11.60% | 9,039,173 | 11.56% | | 2.无限售条件股份 （不含回购专户股份） | 69,171,487 | 88.40% | 69,171,487 | 88.44% | | 3.回购专户股份 | 0 | 0% | 0 | 0% | | ——用于股权激励或员 | 0 | 0% | 0 | 0% | 二、 股权结构变动情况 1 / 2 | 工持股计划等 | | | | | | --- | --- | --- | --- | --- | | ——用于减少注册资本 | 0 | 0 ...

一、 药品基本情况 1.药品名称：羟苯磺酸钙胶囊 剂型：胶囊 规格：0.5g 注册分类：化学药品 4 类 证券代码：832735 证券简称：德源药业 公告编号：2024-078 江苏德源药业股份有限公司 关于羟苯磺酸钙胶囊获国家药监局签发药品注册证书的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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个别及连 带法律责任。 2024 年 10 月 29 日，江苏德源药业股份有限公司（以下简称"公司"）按照 化学药品 4 类申报的羟苯磺酸钙胶囊取得国家药品监督管理局（NMPA）核准签 发的药品注册证书，且视同通过一致性评价。现将相关情况公告如下： 批准文号：国药准字 H20249178 药品生产企业：江苏德源药业股份有限公司 2.药品其他情况 羟苯磺酸钙胶囊主要用于微血管病和慢性静脉功能不全及其后遗症的辅助 治疗。羟苯磺酸钙通过增加毛细血管的强度和降低毛细血管的病理通透性，从而 起到保护血管的作用。此外，其还能抑制血小板聚集增加，降低全血和血浆粘度 升高。在微循环障碍的情况下，羟苯磺酸钙可以消除或减轻临床症状（水肿、毛 1 ...

关于利格列汀片获国家药监局签发药品注册证书的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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个别及连 带法律责任。 证券代码：832735 证券简称：德源药业 公告编号：2024-079 江苏德源药业股份有限公司 2024 年 10 月 29 日，江苏德源药业股份有限公司（以下简称"公司"）按照 化学药品 4 类申报的利格列汀片取得国家药品监督管理局（NMPA）核准签发的 药品注册证书，且视同通过一致性评价。现将相关情况公告如下： 一、 药品基本情况 1.药品名称：利格列汀片 剂型：片剂 规格：5mg 注册分类：化学药品 4 类 1 / 2 肾脏安全性更高、肝肾功能不全患者无需调整剂量。利格列汀心血管安全性和肾 脏微血管结局研究（CARMELINA）显示，利格列汀不增加肾脏复合结局（肾性 死亡、进展为终末期肾病或持续 eGFR 下降≥40%）的风险。 利格列汀片的原研企业是 Boehringer Ingeleheim，2011 年在美国获批上市， 后相继在欧盟、日本等获批上市；2013 年在中国批准进口，该产品已纳入国家 ...

证券代码：832735 证券简称：德源药业 公告编号：2024-077 江苏德源药业股份有限公司 关于注销部分募集资金专项账户的公告 1 / 3 （行使超额配售选择权），募集资金总额为 30,866.61 万元，扣除发行费用后募 集资金净额为 28,419.43 万元。 二、 募集资金管理情况 为规范公司募集资金的管理和使用，保护投资者的利益，根据《北京证券交 易所上市公司持续监管办法（试行）》《北京证券交易所股票上市规则（试行）》 等相关规定，公司结合实际情况，制定了《募集资金管理制度》。 根据《募集资金管理制度》的相关要求，公司对募集资金实行专户存储，并 联同保荐机构开源证券股份有限公司分别与招商银行股份有限公司连云港分行、 交通银行股份有限公司连云港分行、中国民生银行股份有限公司南京分行签订 《募集资金专户三方监管协议》。 | 开户银行 | 银行账号 | 账户状态 | | --- | --- | --- | | 招商银行股份有限公司连云港分行 | 518900014010111 | 本次注销 | | 交通银行股份有限公司连云港分行 | 327006000013000071925 | 前次已注销 | | ...

Investment Rating - The investment rating for the company is "Outperform" (Maintain) [1] Core Views - The company reported a 49% increase in net profit attributable to shareholders for the first three quarters of 2024 [1] - Revenue for Q1-Q3 2024 reached 653 million yuan, a year-on-year increase of 24% [2] - The company is undergoing capacity upgrades, adding a production line with a capacity of 300 million tablets, expected to be operational by September 2024 [3] - R&D expenses increased by 70% in Q1-Q3 2024, with a focus on both generic and innovative drug development [4] Financial Summary - For 2024, the company forecasts revenue of 823 million yuan and net profit of 158 million yuan, with corresponding EPS of 2.02 yuan [5] - The gross margin is projected to be 81.7% for 2024, with a net margin of 19.2% [5] - The company's total assets are expected to reach 1.306 billion yuan by 2024, with total liabilities of 228 million yuan [7]

本公司及监事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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个别及连 带法律责任。 一、会议召开和出席情况 证券代码：832735 证券简称：德源药业 公告编号：2024-075 江苏德源药业股份有限公司 第四届监事会第七次会议决议公告 会议应出席监事 3 人，出席和授权出席监事 3 人。 监事何建忠因工作原因以通讯方式参与表决。 二、议案审议情况 （一）会议召开情况 1.会议召开时间：2024 年 10 月 24 日 2.会议召开地点：江苏省连云港经济技术开发区长江路 29 号公司三楼会议室 3.会议召开方式：现场和通讯相结合 4.发出监事会会议通知的时间和方式：2024 年 10 月 18 日以电子邮件方式发出 5.会议主持人：监事会主席何建忠 6.召开情况合法、合规、合章程性说明： 本次监事会会议的召集和召开符合《中华人民共和国公司法》《中华人民共 和国证券法》等法律法规以及《江苏德源药业股份有限公司章程》《江苏德源药 业股份有限公司监事会议事规则》等相关规定，会议的表决程序和表决结果合法 有效。 （二）会议出席情况 （一）审议通过 ...

Financial Performance - Operating revenue for the first nine months of 2024 reached CNY 652,939,581.37, a 23.67% increase from CNY 527,964,172.48 in the same period of 2023[4] - Net profit attributable to shareholders rose by 36.43% to CNY 115,282,910.60, up from CNY 84,501,559.50 year-on-year[4] - Basic earnings per share rose to CNY 1.49, reflecting a 35.45% increase from CNY 1.10 in the previous year[4] - Total operating revenue for the first nine months of 2024 reached ¥652,939,581.37, a 23.6% increase from ¥527,964,172.48 in the same period of 2023[27] - Net profit for the first nine months of 2024 was ¥115,282,910.60, representing a 36.4% increase compared to ¥84,501,559.50 in the same period of 2023[28] - Total profit for the first nine months of 2024 was ¥136,903,204.15, an increase of 37.3% from ¥99,708,306.74 in the same period of 2023[28] - The company achieved a total comprehensive income of ¥115,282,910.60 for the first nine months of 2024, up from ¥84,501,559.50 in the same period of 2023[28] - Total comprehensive income reached ¥144,468,924.29, compared to ¥84,020,628.10 in the previous period, indicating a significant increase[30] Cash Flow - The net cash flow from operating activities increased by 72.50% to CNY 86,253,015.84, compared to CNY 50,002,395.72 in the previous year[4] - Cash inflow from operating activities totaled ¥623,141,060.45, up from ¥502,131,465.13, reflecting a growth of approximately 24%[30] - Net cash flow from operating activities was ¥86,253,015.84, compared to ¥50,002,395.72, representing a year-over-year increase of 72%[30] - Cash and cash equivalents at the end of the period stood at ¥301,072,011.45, down from ¥187,058,200.76, indicating a decrease in liquidity[31] - The company paid out ¥28,736,088.01 in dividends, an increase from ¥23,395,043.76, reflecting a commitment to returning value to shareholders[31] Assets and Liabilities - Total assets increased by 14.03% to CNY 1,316,081,970.99 as of September 30, 2024, compared to CNY 1,154,156,478.60 at the end of 2023[4] - The company’s total liabilities to assets ratio increased to 20.66% from 17.83% year-on-year, indicating a slight increase in leverage[4] - Current liabilities rose to ¥244,623,477.72 from ¥181,305,845.18, reflecting an increase of approximately 35%[22] - The company’s long-term investments decreased to ¥18,580,079.51 from ¥21,803,455.48, a decline of approximately 14.3%[23] Investments - The company’s investment activities resulted in a cash outflow of CNY 198,114,315.39, a 119.50% increase compared to the previous year, primarily due to increased purchases of financial products[6] - The company reported a significant increase in trading financial assets to CNY 190,396,465.74 as of September 30, 2024, compared to CNY 76,399,649.58 at the end of 2023, marking a growth of approximately 149.5%[19] - The company reported a total cash outflow from investment activities of ¥1,151,786,431.75, compared to ¥823,635,259.48, indicating increased investment expenditures[34] Shareholder Information - The total number of unrestricted shares increased from 68,294,887 to 69,171,487, representing a growth of 1.29%[8] - The proportion of unrestricted shares rose from 87.28% to 88.40% during the reporting period[8] - The top ten shareholders collectively hold 44,101,877 shares, accounting for 56.36% of total shares[9] - The company has no pledged or judicially frozen shares among its major shareholders[10] - The company has implemented a share buyback plan, which has been disclosed in a timely manner[12] Expenses - Total operating costs increased to ¥524,560,221.68, up 19.4% from ¥439,530,508.25 year-over-year[27] - Research and development expenses rose to ¥97,810,466.84, a 19.3% increase from ¥82,001,063.31 year-over-year[27] - The company reported a significant increase in sales expenses, which totaled ¥281,352,036.55, compared to ¥220,451,994.49 in the previous year, marking a 27.6% rise[27] - Tax expenses for the first nine months of 2024 were ¥21,620,293.55, compared to ¥15,206,747.24 in the same period of 2023, reflecting a 42.5% increase[28] Other Information - There were no significant legal disputes or external guarantees during the reporting period[12] - The company has established a unified voting agreement among five major natural person shareholders, collectively holding 30.83% of the shares[9] - The company conducted two rounds of entrusted wealth management using idle funds, totaling CNY 621,320,000.00, to enhance capital efficiency[15]

证券代码：832735 证券简称：德源药业 公告编号：2024-074 一、会议召开和出席情况 江苏德源药业股份有限公司 （一）会议召开情况 第四届董事会第八次会议决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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个别及连带 法律责任。 1.会议召开时间：2024 年 10 月 24 日 2.会议召开地点：江苏省连云港经济技术开发区长江路 29 号公司三楼会议室 3.会议召开方式：现场和通讯相结合 4.发出董事会会议通知的时间和方式：2024 年 10 月 18 日以电子邮件方式发出 5.会议主持人：董事长陈学民 6.会议列席人员：公司监事、高级管理人员 7.召开情况合法、合规、合章程性说明： 本次董事会会议的召集和召开符合《中华人民共和国公司法》《中华人民共和 国证券法》等法律法规以及《江苏德源药业股份有限公司章程》《江苏德源药业股 份有限公司董事会议事规则》等相关规定，会议的表决程序和表决结果合法有效。 （二）会议出席情况 会议应出席董事 7 人，出席和授权出席董事 7 人。 董事贾鹏、王玉春、周建平、周伟澄因工作 ...