证券代码：688505 证券简称：复旦张江 公告编号：临 2025-018 上海复旦张江生物医药股份有限公司 关于持股 5%以上股东减持股份计划公告 本公司董事会、全体董事及相关股东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、准确性和完整性依法承担法律 责任。 重要内容提示： ? 大股东的基本情况 截至本公告披露日，上海复旦张江生物医药股份有限公司（以下简称"公司" 或"复旦张江"）股东杨宗孟先生持有公司股份 74,375,494 股，占公司总股本的 股东所持有的公司股份来源为公司首次公开发行前持有的股份数量，该部分股份 已于 2023 年 6 月 19 日起全部解除限售并上市流通。 ? 减持计划的主要内容 公司于近日分别收到杨宗孟先生、王海波先生发来的《关于减持复旦张江股 份计划的告知函》，因自身资金需求，杨宗孟先生计划自本公告披露之日起 15 个交易日后的 3 个月内通过集中竞价的方式减持公司股份不超过 10,365,721 股， 拟减持比例不超过公司总股本的 1.00%；王海波先生计划自本公告披露之日起 15 个交易日后的 3 个月内通过集中竞价的方式减持公司股份不超 ...

证券代码：688505 证券简称：复旦张江 公告编号：临 2025-018 上海复旦张江生物医药股份有限公司 关于持股 5%以上股东减持股份计划公告 本公司董事会、全体董事及相关股东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、准确性和完整性依法承担法律 责任。 大股东的基本情况 股东名称 杨宗孟 股东身份 控股股东、实控人及一致行动人 □是 √否 直接持股 5%以上股东 √是 □否 董事、监事和高级管理人员 □是 √否 其他：无 持股数量 74,375,494股 持股比例 7.18% 当前持股股份来源 IPO 前取得：74,375,494股 截至本公告披露日，上海复旦张江生物医药股份有限公司（以下简称"公司" 或"复旦张江"）股东杨宗孟先生持有公司股份 74,375,494 股，占公司总股本的 7.18%；王海波先生持有公司股份 56,099,327 股，占公司总股本的 5.41%。上述 股东所持有的公司股份来源为公司首次公开发行前持有的股份数量，该部分股份 已于 2023 年 6 月 19 日起全部解除限售并上市流通。 减持计划的主要内容 公司于近日分别收到杨宗孟先生、王 ...

Core Viewpoint - Fudan Zhangjiang has received the acceptance notice from the National Medical Products Administration for its self-developed injectable FZ-P001 sodium, aimed at visualizing malignant lesions during cancer surgery, marking a significant step in the development of innovative surgical solutions for tumor removal [1] Company Summary - The injectable FZ-P001 sodium is classified as a Class 1 new chemical drug, with its active ingredient being a conjugate of folate receptor-targeting small molecules and photosensitizers [1] - The drug is intended to enhance the effectiveness of surgical resection of solid tumors by indicating the presence of malignant tissue and the status of surgical margins [1] - This marks the first human Phase I clinical trial application for the drug, focusing on evaluating its safety, tolerability, and pharmacokinetic characteristics in humans [1] Industry Summary - The development of FZ-P001 sodium represents an innovative approach in the field of oncology, particularly in improving surgical outcomes for cancer patients [1] - The approval for the clinical trial reflects the growing interest and investment in advanced therapeutic solutions within the pharmaceutical industry [1]

Core Viewpoint - Fudan Zhangjiang faces significant challenges due to a price adjustment of its key oncology drug, resulting in a projected revenue decline and potential losses for the product in 2025 [1][2][6]. Group 1: Price Adjustment Impact - The retail price of the oncology drug, Liposomal Doxorubicin (brand name: Liboduo), has been reduced by at least 35% effective May 1, 2024, due to its inclusion in the national centralized procurement list [1][5][6]. - The price adjustment is expected to lead to a more than 50% decline in sales revenue for Liboduo in 2025, raising concerns about the product potentially incurring losses [2][6]. Group 2: Financial Performance - Fudan Zhangjiang's revenue and net profit have declined for three consecutive years from 2022 to 2024, with 2024 projected revenues of 709 million yuan, down 16.61% year-on-year [2][8]. - The company reported a net profit margin of only 5.56% in 2024, significantly lower than the 21.44% in 2019, primarily due to high R&D and sales expenses [10]. Group 3: R&D Investments - Despite declining revenues, Fudan Zhangjiang has increased its R&D investment to 314 million yuan in 2024, accounting for 44.29% of its total revenue, indicating a commitment to innovation [9][10]. - The company is advancing several projects, including antibody-drug conjugates, with ongoing clinical trials and new production facilities [9]. Group 4: Market Performance - Since its listing in July 2020, Fudan Zhangjiang's stock price has dropped over 80%, from a peak of 42.35 yuan per share to 7.83 yuan as of April 30, 2024 [4][11].

Core Viewpoint - The company announces a price adjustment for its anti-tumor drug, Doxorubicin Liposome Injection, due to its inclusion in the national centralized procurement directory, which will lead to a significant reduction in sales revenue for 2025 [4][6]. Group 1: Drug Overview - The drug, Doxorubicin Liposome Injection, was launched in August 2009 and is the first domestic generic version of Doxil/Caelyx, utilizing advanced liposome technology for passive targeting [2]. - In 2024, the drug generated approximately RMB 210 million in sales, accounting for 29% of the company's total revenue [2]. - The drug is primarily used for treating Kaposi's sarcoma related to AIDS, as well as multiple myeloma, breast cancer, and ovarian cancer [2][3]. Group 2: Reasons for Price Adjustment - The drug has been included in the national centralized procurement list for the first time in 2024, with the execution period lasting until December 31, 2027 [4]. - The company plans to gradually reduce the market retail price by no less than 35% starting from May 1, 2025, in response to the new procurement rules and market competition [4]. Group 3: Company Measures - The company will maintain long-term cooperation with existing suppliers and ensure stability in its production and quality control processes [5]. - It will optimize its marketing network and focus on developing new markets, particularly in private and profit-oriented medical institutions [5]. - The company aims to increase R&D investment to ensure continuous revenue contributions from other products while accelerating the commercialization of new products in advantageous areas [5]. Group 4: Impact of Price Adjustment - The price adjustment is expected to adversely affect the sales revenue of Doxorubicin Liposome Injection in the second quarter of 2025 and beyond, with an anticipated decline of over 50% in annual sales revenue [6]. - This decline may lead to a risk of single-product losses for the drug in 2025 [6].

Group 1 - National Integrated Circuit Industry Fund plans to reduce its stake in Jiangbolong by no more than 4,159,815 shares, accounting for 1.00% of the total share capital, between May 27, 2025, and August 26, 2025 [1] - The reduction is due to the fund's operational management needs and will be executed through centralized bidding at market prices [1] - The implementation of this reduction plan will not lead to a change in the company's control or significantly impact its governance structure and ongoing operations [1] Group 2 - Haitai Weiye has received approval from the China Securities Regulatory Commission for its H-share issuance, planning to issue no more than 710.52 million overseas listed ordinary shares [2] - The listing will take place on the main board of the Hong Kong Stock Exchange, but the matter still carries uncertainties [2] Group 3 - Fudan Zhangjiang announced a price reduction of at least 35% for its Doxorubicin Liposome Injection starting May 1, 2025, which is expected to negatively impact sales revenue [3] - The drug generated approximately RMB 210 million in sales for the year 2024, representing 29% of the company's total sales revenue [3] - The price adjustment may lead to a risk of single product loss for the drug in 2025 [3] Group 4 - Xinyuan Technology's director expressed inability to guarantee the authenticity and completeness of the 2024 annual report and related financial documents, citing significant issues identified by the audit firm [4] - The company has received a notice of investigation from the securities regulatory authority, and the audit report issued was unable to express an opinion [4] Group 5 - ST Xinchao announced that its stock will be suspended from trading starting May 6, 2025, due to the inability to disclose the audited 2024 annual report and the 2025 Q1 report within the legal timeframe [5] - If the company fails to disclose the 2024 annual report within two months of the suspension, it will face delisting risk warnings [5] Group 6 - Huakang Clean has pre-won a project worth RMB 167 million [6] - Tongguang Cable has pre-won a procurement project from the State Grid valued at RMB 142 million [6] - Fengmao Co. has increased its investment in a production base in Thailand to RMB 26 million [6] Group 7 - Huaren Pharmaceutical's wholly-owned subsidiary has obtained a medical device registration certificate for wound dressings [7] Group 8 - Major shareholders of Kairun Co. plan to reduce their holdings by no more than 9 million shares [10] - CITIC Securities has completed its reduction plan for China Gold [10] - The reduction plan for Hengfeng Information's director and vice president has been completed [10]

Group 1 - ST Xinchao is unable to disclose its audited annual report for 2024 and Q1 2025 by the legal deadline, leading to a stock suspension starting May 6, 2025. If the report is not disclosed within two months, the stock will face delisting risk warning [3] - Wolong Real Estate plans to change its stock name to "Wolong New Energy" to align with national "dual carbon" policies and to explore new profit growth points in the renewable energy sector [4] - Dongzhu Ecology clarifies that it only holds a 10% stake in Dilos AI Technology and has no substantial business cooperation with it, as Dilos is still in its early stages of development [5] Group 2 - Haitian Flavor Industry has received approval from the China Securities Regulatory Commission for its H-share issuance, planning to issue up to 710.52 million shares for listing on the Hong Kong Stock Exchange, though uncertainties remain [6] - Jiawei New Energy's controlling shareholder received a warning letter from the Shenzhen Securities Regulatory Bureau for failing to fulfill a commitment to increase shareholding by at least 60 million yuan [7] - Fudan Zhangjiang will reduce the market retail price of its Doxorubicin Liposome Injection by no less than 35% starting May 1, 2025, which may negatively impact its sales revenue and lead to potential losses for this product in 2025 [8] Group 3 - Tongguang Cable is a pre-selected candidate for two procurement projects from the State Grid Corporation, with a total expected bid amount of 142 million yuan, representing approximately 5.49% of the company's total revenue for 2024 [12]

Core Viewpoint - Fudan Zhangjiang announced a price reduction of at least 35% for its Doxorubicin Liposome Injection starting from May 1, 2025, which is expected to negatively impact the company's sales revenue in 2025 and beyond [1] Group 1: Company Impact - The Doxorubicin Liposome Injection generated approximately RMB 210 million in sales revenue for the year 2024, accounting for 29% of the company's total annual sales revenue [1] - The price adjustment is anticipated to lead to a potential single-product loss for the Doxorubicin Liposome Injection in 2025 [1] Group 2: Market Implications - The decision to lower the price reflects the company's strategy to remain competitive in the market, but it poses risks to future revenue streams [1]

上海复旦张江生物医药股份有限公司2025 年第一季度报告 公司 H 股代码：01349 证券简称：复旦张江 上海复旦张江生物医药股份有限公司 2025 年第一季度报告 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、准确性和完整性依法承担法律责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人赵大君、主管会计工作负责人薛燕及会计机构负责人（会计主管人员）章雯保证季度 报告中财务信息的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | | | 本报告期比上 | | | --- | --- | --- | --- | | 项目 | 本报告期 | 上年同期 | 年同期增减变 | | | | | 动幅度(%) | | 营业收入 | 179,906,064 | 147,647,109 | 21.85 | | 归属于上市公司股东的净利润 | 2,665,11 ...

Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 709,405,000, a decrease of 16.6% compared to RMB 850,733,000 in 2023[5] - Profit before tax for 2024 was RMB 5,458,000, down 94.4% from RMB 97,528,000 in 2023[5] - Net profit attributable to shareholders for 2024 was RMB 39,734,000, a decline of 63.4% from RMB 108,627,000 in 2023[5] - The company's revenue decreased by 17% year-on-year during the reporting period[34] - The company's revenue for the fiscal year 2024 was approximately RMB 709,405 thousand, a decrease of 17% compared to RMB 850,733 thousand in 2023, primarily from core business operations[55] - Revenue from the sale of medical and diagnostic products in 2024 was RMB 709,378 thousand, accounting for 99.9963% of core business revenue, also down 17% from RMB 850,564 thousand in 2023[57] - The net profit for 2024 was approximately RMB 39,434 thousand, a decline of about 64% from RMB 108,450 thousand in 2023, with a net profit margin of 6% compared to 13% in the previous year[67] - Sales revenue from Aira® decreased by 13% compared to the same period last year[35] - Sales revenue from Libod® declined by 28% year-on-year[36] - Sales revenue from Fumida® dropped by 4% compared to the previous year[37] Assets and Liabilities - Total assets as of December 31, 2024, were RMB 2,586,503,000, a decrease of 10.1% from RMB 2,876,688,000 in 2023[6] - Total liabilities for 2024 were RMB 281,226,000, down 45.4% from RMB 518,124,000 in 2023[6] - The company has a cash and cash equivalents balance of approximately RMB 1,056,286 thousand as of December 31, 2024, down from RMB 1,195,896 thousand as of December 31, 2023[78] - The company has no outstanding bank financing as of December 31, 2024, indicating a debt-free status[75] Research and Development - The company plans to strategically focus on the development and industrialization of photodynamic therapy technology, leveraging its competitive advantages in this area[11] - The company aims to accelerate the research and industrialization of antibody-drug conjugates (ADCs), despite the competitive landscape in this field[11] - The company has established multiple technology platforms, including gene engineering and nanotechnology, to support ongoing drug development projects[10] - The company emphasizes a balanced approach between innovation and industrialization, as well as research and marketing[12] - Research and development expenses increased by 29% to RMB 314,162 thousand in 2024, up from RMB 243,763 thousand in 2023, reflecting a commitment to ongoing R&D projects[60] - The company is focusing on research and development in its advantageous fields, including photodynamic technology and nanotechnology[43] - The company is committed to continuous innovation and the development of new projects to provide valuable treatment options for patients[43] - The company has made significant progress in R&D, including the initiation of clinical trials for multiple drug candidates targeting various cancers and diseases[51] Clinical Trials and Product Development - The current pipeline includes photodynamic therapy (PDT) and photodynamic diagnosis (PDD), targeting conditions such as cervical precancerous lesions and breast cancer[14] - The photodynamic treatment for severe acne using aminolevulinic acid (ALA) has completed Phase II clinical trials, with results presented at the European Society for Dermatological Research meeting[20] - The clinical study for ALA in treating cervical precancerous lesions has completed Phase II trials and will soon enter Phase III trials, aiming for new indication registration[19] - The company is developing intraoperative molecular imaging (IMI) technology for real-time tumor visualization during surgeries, particularly for gliomas and bladder cancer[16] - The clinical trial for the use of aminolevulinic acid hydrochloride granules in non-muscle invasive bladder cancer (NMIBC) surgery has received approval, with the first subject enrolled during the reporting period[22] - The clinical trial for the use of aminolevulinic acid hydrochloride granules in breast-conserving surgery for breast cancer has also received approval, addressing a significant clinical need in real-time tumor margin assessment[24] - The global first photodynamic drug for treating infantile hemangioma, Heimofen, has completed the enrollment of the first subject in its Phase II clinical trial in the U.S.[25] - The first antibody-drug conjugate (ADC) developed by the company, targeting CD30, has had its Phase I clinical trial results presented at the American Society of Hematology meeting, although its advancement has been temporarily paused due to strategic considerations[27] - The second ADC targeting Trop2 for triple-negative breast cancer and other tumors has completed the enrollment of the first subject in its Phase III clinical trial for triple-negative breast cancer[28] Market and Industry Trends - The global pharmaceutical market is expected to exceed USD 1.1 trillion in 2024, with a projected compound annual growth rate of 3-6% until 2026[49] - By 2025, the Chinese pharmaceutical market is estimated to reach RMB 2.1 trillion, with the biopharmaceutical market expected to account for 48% of this[49] - The global biopharmaceutical industry is undergoing profound changes driven by new technologies, with a shift towards patent cooperation and mergers and acquisitions[50] - The Chinese pharmaceutical industry is a strategic emerging industry, with a focus on accelerating the development of innovative drugs and biomanufacturing as new growth engines[131] - The market for broad skin disease treatment and care in China grew from RMB 300.4 billion in 2017 to RMB 471.8 billion in 2021, with a compound annual growth rate of 11.95%[132] - The incidence of skin diseases is increasing, with a significant rise in the number of patients and treatment visits, indicating a growing market demand[132] Corporate Governance and Financial Policies - The company has established a robust corporate governance structure to enhance transparency and accountability, thereby protecting shareholder interests and boosting investor confidence[190] - The company has implemented a stable and proactive profit distribution policy since 2015, prioritizing cash dividends when profits are available[170] - The company plans to maintain a cash dividend ratio of no less than 10% of the distributable profits in the first three years post-IPO[170] - The company has a conservative financial policy to ensure that its assets do not bear unnecessary risks, with no outstanding bank loans as of the reporting date[79] Employee and Management Information - The employee cost for the year 2024, including director remuneration, was RMB 232,115 thousand, compared to RMB 238,468 thousand in 2023[82] - The company has not provided employee dormitories during the year, and details regarding housing provident funds are included in the financial statements[188] - The company has purchased liability and indemnity insurance for directors and senior management, covering responsibilities related to both H-shares and A-shares listings[199]