登录新浪财经APP 搜索【信披】查看更多考评等级 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 特别提示： 2024年度股东大会、2025年第一次A股类别股东会及2025年第一次H股类别股东会没有出现否决议案的 情形，未涉及变更以往股东大会已通过的决议。 一、会议的召集、召开和出席情况 1、股东大会届次：丽珠医药集团股份有限公司（以下简称"公司"）2024年度股东大会、2025年第一次 A股类别股东会及2025年第一次H股类别股东会。 2、股东大会的召集人：公司董事会。公司已于2025年4月23日召开了第十一届董事会第二十四次会议， 审议通过了《关于召开公司2024年度股东大会、2025年第一次A股类别股东会及2025年第一次H股类别 股东会的议案》。 3、股东大会的主持人：副董事长陶德胜先生。 ③2025年第一次H股类别股东会召开日期、时间：2025年5月29日（星期四）下午3:30（或紧随公司2025 年第一次A股类别股东会结束后）。 （2）网络投票时间： ①通过互联网投票系统进行网络投票的起止日期和时间：2025年5月29日上午9:15至2025年5月 ...

Core Viewpoint - The acquisition of 64.81% stake in Imexpharm Corporation (IMP) by Lijuz Group for 1.587 billion yuan has sparked market discussions primarily due to its high valuation [1]. Group 1: Acquisition Details - The transaction price corresponds to a price-to-earnings (P/E) ratio of 27.6 times IMP's projected net profit for 2024, significantly higher than Lijuz Group's own P/E ratio of 15 times [4]. - If calculated based on the annualized net profit for the first quarter of 2025, the dynamic P/E ratio rises to 29.7 times [4]. - The acquisition price represents a premium of 293.79% over IMP's net assets at the end of 2024, indicating a control premium and a bet on the potential of the Vietnamese pharmaceutical market [4]. Group 2: Company Background and Market Position - IMP, established in 1977, is a leading pharmaceutical company in Vietnam, with core products including antibiotics (first in market share) and cardiovascular drugs (fifth in market share), covering over 80% of medical institutions in Vietnam [4]. - In 2024, IMP reported revenue of 696 million yuan and a net profit of 88.83 million yuan; for the first quarter of 2025, revenue was 186 million yuan with a net profit of 20.61 million yuan [4]. Group 3: Strategic Rationale - The acquisition aims to complement Lijuz Group's existing product lines in antibiotics and cardiovascular drugs, allowing both companies to share research and development resources as well as sales channels [4]. - The Vietnamese pharmaceutical market is growing at an annual rate exceeding 10%, and IMP holds EU GMP certification, which could provide Lijuz Group with a gateway to Southeast Asian and European markets [4]. - Lijuz Group's revenue in 2024 decreased by 4.97% year-on-year, primarily due to price reductions from centralized procurement and a decline in demand for antiviral drugs, necessitating the search for new growth opportunities [4].

R&D Strategy and Product Pipeline - The company has initiated a comprehensive review of its R&D strategy starting in 2024, focusing on clear and defined strategic lines around disease areas and technology platforms [2][3]. - In the gastrointestinal field, the company is expanding its product lineup with P-CAB tablets and injectables, with P-CAB tablets currently in Phase III clinical trials [3]. - The reproductive health sector has a complete product cycle from ovulation induction to luteal support, with a key product, recombinant human follicle-stimulating hormone injection, reported in January 2023 and expected to enhance the product pipeline [3]. - In the field of mental health, the company is advancing its pipeline with innovative products like NS-041 tablets, which have completed Phase I trials and are moving into Phase II [4]. Key Product Developments - NS-041 tablets are positioned as a best-in-class product for epilepsy, showing superior selectivity and efficacy compared to similar products in development, with a patent protection until 2042 [4]. - The small nucleic acid project LZHN2408 has completed IND filing and targets gout with high patient demand, expected to receive clinical approval soon [5]. - The IL-17A/F monoclonal antibody for psoriasis has completed Phase III clinical enrollment and is expected to launch in 2025, with promising clinical data showing a 60% complete skin clearance rate at 12 weeks [6][7]. Business Development and Market Strategy - The company employs a dual strategy of self-research and business development (BD) to enhance its pipeline, focusing on projects that align with its core areas and technology platforms [9]. - The acquisition of Vietnam's IMP company aims to strengthen innovation and global market presence, leveraging IMP's established marketing network and production capabilities [12]. - The company anticipates steady growth in its traditional Chinese medicine sector, driven by products like the ginseng and astragalus injection, benefiting from policy changes [10][11]. Organizational Changes and Efficiency - The company has enhanced its operational efficiency through systematic improvements in R&D project management, optimizing processes and resource allocation [13]. - Structural adjustments have been made to ensure a stable workforce while optimizing roles, particularly in sales, to support product launches and market penetration [13].

Core Viewpoint - Lijun Group is accelerating its overseas market expansion through the acquisition of a majority stake in Imexpharm Corporation (IMP) in Vietnam for approximately 1.587 billion RMB, which is expected to enhance its international presence and product synergy [1][2][3] Group 1: Acquisition Details - Lijun Group's wholly-owned subsidiary, LIAN SGP, plans to acquire 64.81% of IMP for about 57.3 trillion VND, equivalent to approximately 1.587 billion RMB, representing 11.45% of the company's latest audited net assets [2] - The acquisition does not constitute a related party transaction or a major asset restructuring, and upon completion, IMP will be included in Lijun Group's consolidated financial statements [2] - IMP, established in 1977, is a leading pharmaceutical company in Vietnam, focusing on the research, production, and sales of pharmaceuticals, including antibiotics and cardiovascular drugs [2] Group 2: Financial Performance - Lijun Group has shown consistent growth in overseas revenue, with figures of 1.565 billion RMB, 1.571 billion RMB, and 1.724 billion RMB from 2022 to 2024, reflecting year-on-year growth rates of 1.72%, 0.4%, and 9.69% respectively [3] - The overseas gross profit margin reached 48.9% in 2024, marking a ten-year high [3] - The company's net profit has been on a positive growth trajectory since 2019, with a net profit of 637 million RMB in Q1 2025, representing a year-on-year increase of 4.75% [1][5] Group 3: Research and Development - Lijun Group has invested over 1 billion RMB annually in R&D since 2021, with total R&D expenditures amounting to 4.941 billion RMB from 2021 to 2024 [5] - As of the 2024 annual report, the company has 45 projects under development, including 23 innovative drugs and high-barrier complex formulations, with 7 projects in the review stage for market approval [5] Group 4: Shareholder Returns - Lijun Group has a strong track record of returning value to shareholders, having distributed cash dividends 25 times, totaling 10.54 billion RMB, with a dividend payout ratio of 47.75% [5]

Group 1 - Health元 announced that its subsidiary, Lijuz Group, plans to acquire 64.81% of Imexpharm Corporation for approximately 5.73 trillion VND (about 1.587 billion RMB), which represents 11.45% of Lijuz Group's latest audited net assets [1] - Imexpharm Corporation is a Vietnamese pharmaceutical company engaged in the research, production, and sales of drugs, including antibiotics and cardiovascular medications [1] - After the acquisition, Imexpharm will become a subsidiary of Lijuz Group, aiding in the expansion of the group's overseas market [1] Group 2 - Lijuz Group's revenue has been under pressure, with a reported revenue of 11.812 billion RMB in 2024, a decrease of 4.97% year-on-year, while net profit increased by 5.50% to 2.061 billion RMB [2] - The decline in revenue is attributed to price reductions from national medical insurance negotiations affecting key products, as well as decreased sales in antiviral products following reduced demand due to COVID-19 and flu [2] - Health元 also reported a revenue of 15.619 billion RMB in 2024, down 6.17% year-on-year, with a net profit of 1.387 billion RMB, a decrease of 3.90% [2] Group 3 - Lijuz Group is accelerating its international expansion to enhance its risk resilience, with products already covering Southeast Asia, South America, the Middle East, and Africa [3] - The company has initiated the construction of an active pharmaceutical ingredient factory in Indonesia to support local and international production, aiming to reduce costs and improve market responsiveness [3] - In 2024, Lijuz Group achieved overseas revenue of 1.724 billion RMB, a year-on-year increase of 9.69%, accounting for 14.59% of total revenue, which is a 2 percentage point increase from 2023 [3]

丽珠医药集团股份有限公司（以下简称"本公司"）于 2024 年 6 月 14 日召 开公司 2023 年度股东大会、2024 年第一次 A 股类别股东会及 2024 年第一次 H 股类别股东会，审议通过了《关于授予董事会回购本公司 H 股的一般授权》。 有关回购 H 股股份的实施及进展情况请见公司于 2024 年 8 月 2 日、2024 年 9 月 3 日、2024 年 10 月 9 日、2024 年 11 月 2 日、2024 年 12 月 3 日、2025 年 1 月 3 日、2025 年 2 月 5 日、2025 年 3 月 4 日、2025 年 4 月 2 日、2025 年 5 月 7 日以 及日常同步披露的 H 股公告。 截至 2025 年 5 月 13 日，本公司累计回购公司 H 股股份 7,245,300 股，占本 公司于 2025 年 5 月 13 日的已发行总股本的 0.80%及已发行 H 股总股数的 2.36%， 购买的最高价为港币 27.80 元/股，最低价为港币 23.75 元/股，已使用的资金总额 为港币 190,692,395.00 元（不含交易费用）。上述回购符合公司回购 H ...

证券研究报告·行业跟踪周报·医药生物 增持（维持） 医药生物行业跟踪周报 [Table_Tag] [Table_Summary] 投资要点 GLP-1 药物成为药王，建议关注博瑞医药、 信达生物、联邦制药等 2025 年 05 月 11 日 证券分析师 朱国广 执业证书：S0600520070004 zhugg@dwzq.com.cn 东吴证券研究所 1 / 26 请务必阅读正文之后的免责声明部分 ◼ 本周、年初至今 A 股医药指数涨幅分别为 1.0%、1.2%，相对沪深 300 的超额收益分别为-1.0%、3.4%；本周、年初至今 H 股生物科技指数涨 跌幅分别为-4%、27%，相对于恒生科技指数跑赢-19%、29 %；本周 A 股医疗器械（+1.7%）、中药（+1.5%）、生物制品（+1.1%）股价明显上 涨，原料药（+0.8%）、医疗服务（+0.5%）、化药（+0.6%）及医药商业 （+0.4%）等股价有所下跌；本周 A 股涨幅居前锦好医疗（+24%）、常 山药业（+24%）、海创药业-U（+23%），跌幅居前*ST 葫芦娃(-18%)、 永安药业（-18%）、*ST 苏吴（-15%）；本周 H 股涨幅 ...

Major Events - Jin'an Industrial (02292) received a privatization offer from its controlling shareholder at a premium of approximately 30%, with resumption of trading on May 12 [1] - Jingtai Holdings (02228) plans to acquire 90% of Shanghai Siwei Medical for 250 million yuan, aiming to create an AI-enabled remote electrocardiogram diagnosis platform [1] - China Investment and Financing (01226) is in contact with MCHKI to explore several potential corporate activities following unusual stock price movements [1] - Qiu Tai Technology (01478) reported camera module sales of 33.229 million units in April, an increase of 8.4% month-on-month but a decrease of 20.1% year-on-year [1] - Stone Pharmaceutical Group (01093) received approval for clinical trials of SYH2046 in the United States [1] - Fosun Pharma (02196) subsidiary Junji Health obtained FDA approval for drug clinical trials [1] - Rongchang Bio (09995) received approval for the marketing of Aidiqi® for treating HER2-positive advanced breast cancer with liver metastasis in China [1] - Livzon Pharmaceutical (01513) received approval for the marketing of injectable aripiprazole microspheres [1] - GAC Group (02238) reported April automobile production of 108,600 units, a year-on-year decline of 25.74% [2] - China Overseas Development (00688) reported contract property sales of approximately 20.164 billion yuan in April, a year-on-year decrease of 7.5% [2] Share Buybacks/Reductions - China Hongqiao (01378) repurchased 19.667 million shares for 273 million HKD on May 9 [1] - AIA Group (01299) repurchased 1.5 million shares for 92.1915 million HKD on May 9 [1] - Cathay Securities (02611) repurchased 1.6906 million A-shares for 29.3356 million yuan on May 9 [1] - Times Electric (03898) repurchased 610,300 shares for 19.7008 million HKD on May 9 [1] - East Asia Bank (00023) acquired 52.8 million shares from Sumitomo Mitsui Banking Corporation [1] - Shandong Molong (00568) saw shareholder Zhimo Holdings reduce its holdings by 28.81 million H-shares [1] Operating Performance - Longyuan Power (00916) achieved a power generation volume of 6.9064 million MWh in April, a year-on-year increase of 4.85% [2] - New天绿色能源 (00956) reported a power generation volume of 1.4778 million MWh in April, a year-on-year increase of 16.91% [2] - Jianye Real Estate (00832) achieved a total property contract sales amount of 2.71 billion yuan in the first four months, a year-on-year increase of 4.8% [2] - China Overseas Hongyang Group (00081) reported a cumulative contract sales amount of 9.556 billion yuan in the first four months, a year-on-year decrease of 14.1% [2] - Times China Holdings (01233) reported a cumulative contract sales amount of approximately 1.81 billion yuan in the first four months, a year-on-year decrease of 29.87% [2] - Agile Property Holdings (01813) reported a pre-sale amount of 509 million yuan in April, a year-on-year decrease of 47.5% [2] - Greenland Hong Kong (00337) reported contract sales of approximately 880 million yuan in the first four months, a year-on-year decrease of 69.3% [2]

证券代码：000513、01513 证券简称：丽珠集团、丽珠医药 公告编号：2025-041 丽珠医药集团股份有限公司 关于注射用阿立哌唑微球获得注册批准的公告 上市许可持有人：珠海市丽珠微球科技有限公司 生产企业：珠海市丽珠微球科技有限公司 本公司及董事会全体成员保证信息披露内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 近日，丽珠医药集团股份有限公司（以下简称"本公司"）全资子公司珠海 市丽珠微球科技有限公司（以下简称"丽珠微球"）收到国家药品监督管理局核 准签发的《药品注册证书》（证书编号：2025S01188），注射用阿立哌唑微球获 批上市。现将相关情况公告如下： 一、药品注册证书主要内容 药品通用名称：注射用阿立哌唑微球 英文名：Aripiprazole Microspheres for Injection 剂型：注射剂 规格：350mg（按 C₂₃H₂₇Cl₂N₃O₂计） 申请事项：药品注册（境内生产） 注册分类：化学药品 2.2 类 特此公告。 丽珠医药集团股份有限公司董事会 2025年5月10日 药品批准文号：国药准字 H20250011 审批结论：根据《中华人民共和国药品管理法 ...

Core Viewpoint - Health元药业's subsidiary, Lijuzhu Microball Technology Co., Ltd., has received approval for the injectable Aripiprazole microspheres, which is expected to enhance medication adherence and reduce relapse rates in adult schizophrenia patients [1][2]. Group 1: Drug Registration Details - The drug is named Aripiprazole Microspheres for Injection, with a dosage of 350mg [1]. - The registration certificate was issued by the National Medical Products Administration, confirming compliance with drug registration requirements [1]. - The drug is classified as a chemical drug of category 2.2 and is produced by Zhuhai Lijuzhu Microball Technology Co., Ltd. [1]. Group 2: Drug Development and Market Context - The injectable Aripiprazole microspheres were submitted for market approval in September 2023, with the acceptance number CXHS2300080 [2]. - This long-acting formulation is designed for monthly administration, which can improve patient compliance and reduce both economic and social burdens [2]. - As of the announcement date, Lijuzhu Microball is the only company with production approval for Aripiprazole microspheres, with no other similar products available globally [2]. Group 3: Market Potential - The estimated terminal sales value of antipsychotic drugs in China for 2024 is approximately RMB 6.048 billion, with long-acting formulations accounting for around RMB 1.418 billion [2].