Welcome investors to the Summer Event Strategy Meeting held by Huayan Medical Co., Ltd. and Lu Yuandong. The host of this meeting is Mr. Tao Tanguo, the chief of Huayan Medical Co., Ltd. This is a three-way communication between the listed companies. We are honored to invite Mr. Zhao, the head of the company, to communicate with us today. Today's communication is mainly divided into two parts, the company introduction and Q&A part. First of all, let's welcome the company's leader, Mr. Zhao, to give an overv ...

Welcome to the Summer Online Strategy Meeting held by Huayan Pharmaceutical and Lu Yandong. The host of this meeting is Mr. Tang Guochao, the chief of Huayan Pharmaceutical's team. This is a three-way communication between the listed companies. We are honored to invite Mr. Zhao, the company's leader, to communicate with us today. Today's communication is mainly divided into two parts, the company introduction and Q&A part. First of all, let's welcome our company's leader, Mr. Zhao, to give an overview of th ...

S (於開曼群島註冊成立的有限公司) 股份代號：1530 PATIELE H 年 告 報 度 light | --- | --- | --- | --- | --- | --- | |----------|-----------------------------|-------|-------|-------|-------| | | | | | | | | | 目錄 | | | | | | 2 | 公司概覽 | | | | | | 3 | 公司資料 | | | | | | 5 | 財務摘要 | | | | | | 6 | 主席報告 | | | | | | 9 | 管理層討論及分析 | | | | | | 36 | 董事及高級管理層 | | | | | | 42 | 董事會報告 | | | | | | 64 | 企業管治報告 | | | | | | 83 | 獨立核數師報告 | | | | | | | | | | | | | | 綜合財務報表 | | | | | | 91 | 綜合損益表 | | | | | | 92 | 綜合全面收益表 | | | | | | 93 | 綜合財務狀況表 | | | | | ...

也非常感谢各位投资人还有市场的网友们对我们的关注我们今年全年的业绩是非常不错的如果之前参与到业绩发布会的话可以关注到我们收入啊然后营销等等 都有比较显示的一个增长在实际上我们也是加大了对北京举报的一些力度东红的主席和过去几年相比有了一些比较显示的指标目前制定的东红计划呢宁远可能是建议向北京大会建议 每组港币1.25元合币率分出来应该是港币6亿的生活对应的发布分红公告的时刻的分红收益率有4.6%的水平期待分红水平未来还能持续除了分红以外 公布了一个股份回购的这么一个计划目前的话是股份大会去年是授权董事会还有管理层可以回购不超过10%的股份那么最近这几周密集的执行了一些回购其实到目前已经执行了1亿的回购 对于医院也都相当于是公司把战死的利润拿出来也向其中进行了一个提告那么未来我会继续持续的做这个合作希望能用更大的力量对这个市场和其中对我们的支持我们就先简单讲这么多吧然后看看 这个方老师您这边有什么问题我们可以阅读的没事 先随你来吧 感谢先上的投资者也感谢何总的这样的介绍然后我这边的话可能先问一个现在大家刚刚比较关心的一个问题就是刚刚咱们也提到关于我们的这个回购的这样的一个进展那想请问一下何总后面的话我们这个回购之 ...

2024年04月12日 公 司点评 公 买入 / 维持 司 三生制药(01530) 研 究 目标价: 昨收盘:6.08 医药 特比澳儿童 ITP 适应症获批，有望支撑收入端持续增长 事件  走势比较 2024年4月11日，公司宣布重组人血小板生成素注射液（特比澳） 新适应症已于 4 月 2 日获得批准，用于治疗儿童或青少年的持续性或慢 10% 性原发免疫性血小板减少症（ITP）。 太 0% 点评 平 (10%)11/4/32 12/6/32 13/8/32 01/11/32 02/1/42 13/3/42 主研发特 的比 重澳 组收 人入 血快 小速 板增 生长 成，适 素应 注增 射覆 液盖 ，此人 前群 已持 获续 批增 成加 人。 实特 体比 瘤澳 化是 疗由 后公 血司 小自 洋 (20%) 板减少症（CIT）和成人原发免疫性血小板减少症（ITP）适应症，近年来 证 (30%) 通过适应症覆盖人群的不断扩展，实现了销售收入的快速增长。2022 版 券 (40%) CSCO 肿瘤治疗所致血小板减少症（CTIT）诊疗指南将特比澳列为Ⅰ级推 股 荐，2023 年医保报销范围由实体瘤化疗后导致的严重血小板减 ...

Investment Rating - The report maintains a "Buy" rating for the company [1][4][17]. Core Views - The company achieved a revenue of 7.816 billion yuan in 2023, representing a growth of 13.8%. Gross profit reached 6.642 billion yuan, with a gross margin of 85.0%, an increase of 2.4 percentage points. However, the net profit attributable to shareholders decreased by 19.1% to 1.549 billion yuan, while the adjusted operating net profit increased by 17.7% to 1.952 billion yuan [1][5][12]. - The sales performance of key products, such as Tebiou and Mandi, was strong, with Tebiou sales reaching 4.205 billion yuan (+23.8%) and Mandi sales at 1.124 billion yuan (+25.8%). Mandi captured a market share of 72.6% in domestic medical institutions [1][12][16]. - The company is focusing on both self-research and business development in key therapeutic areas, with numerous pipelines in nephrology, hematology and oncology, autoimmune diseases, and hair and skin health [1][12][16]. Financial Performance Summary - Revenue for 2023 was 78.16 billion yuan, up 13.8% from the previous year. The gross profit was 66.42 billion yuan, reflecting a 17.1% increase, with a gross margin of 85.0% [1][5][12]. - The company’s R&D expenses were 7.95 billion yuan (+14.6%), with an R&D expense ratio of 10.2%. Sales expenses were 30.06 billion yuan (+16.5%), and management expenses were 4.81 billion yuan (+22.2%) [1][5][12]. - The forecast for net profit attributable to shareholders for 2024-2026 is 1.93 billion yuan, 2.15 billion yuan, and 2.42 billion yuan, respectively, with growth rates of 24.7%, 11.4%, and 12.6% [1][17][18]. Product Performance Summary - Tebiou's sales are expected to continue growing due to the increasing number of hospitals covered and the expansion of indications. The product holds a market share of approximately 65.0% in the treatment of thrombocytopenia [1][12][16]. - Mandi's sales in the hair loss sector reached 11.42 billion yuan, with a strong growth trend and a market share of 72.6% in domestic medical institutions [1][12][16]. - The company has a robust pipeline in various therapeutic areas, with several products in late-stage clinical trials, indicating a promising future for its product portfolio [1][12][16].

Investment Rating - The report maintains a "Buy" rating for the company, with a target price set at 5.50 HKD [1][10]. Core Insights - The company's main business shows steady growth, with a 2023 revenue of 78.16 billion HKD, reflecting a year-on-year increase of 13.8%. However, the net profit attributable to shareholders decreased by 19.1% to 15.49 billion HKD. The adjusted operating net profit increased by 17.7% to 19.52 billion HKD [2][4]. - The company plans to pay a final dividend of 0.25 HKD per share for the year ending December 31, 2023, corresponding to an expected dividend yield of 4.5% [2][4]. - The revenue growth is primarily driven by the sales increase of key products, while the decline in net profit is attributed to changes in the fair value of trading financial assets and foreign exchange losses [2][4]. - The company has a robust pipeline of innovative products, with several expected to be launched in 2024, including treatments for psoriasis and chronic kidney disease anemia [2][4]. Financial Summary - For 2023, the company reported a revenue of 78.16 billion HKD, with a growth rate of 14%. The projected revenues for 2024, 2025, and 2026 are 87.44 billion HKD, 95.35 billion HKD, and 102.69 billion HKD, respectively, with growth rates of 12%, 9%, and 8% [4][8]. - The net profit attributable to shareholders for 2023 was 15.49 billion HKD, with projections of 20.13 billion HKD, 22.44 billion HKD, and 25.08 billion HKD for the following years, reflecting growth rates of 30%, 12%, and 12% [4][8]. - The company's gross margin for 2023 was 85.0%, an increase of 2.4 percentage points year-on-year, indicating continuous improvement in profitability [2][4]. Product Performance - Key products showed stable performance, with revenue from Teva and Mandi increasing by 23.77% and 26.16%, respectively. However, revenue from the dual-brand Erythropoietin decreased by 16.71% [2][4]. - The company is advancing its research pipeline, with multiple products receiving approval for market launch in 2023, indicating a strong commitment to innovation [2][4].

Investment Rating - The report maintains a "Buy" rating for the company [2][3] Core Insights - The company achieved a revenue of 7.82 billion RMB in 2023, representing a year-on-year growth of 13.8%. The adjusted net profit was 1.95 billion RMB, up 17.7% from the previous year [1][2] - The core product, Tevizo, continues to show strong growth, holding a 65% market share in the platelet reduction treatment market in mainland China. Tevizo's sales revenue reached 4.205 billion RMB in 2023, a 23.8% increase year-on-year [1][2] - The company is a leader in the hair health sector with its Minoxidil product, which captured 72.6% of the market share in 2023, generating revenue of 1.12 billion RMB, a 25.8% increase from the previous year [1][2] - The company has a robust pipeline with 13 products in hematology/oncology and 11 in autoimmune diseases, indicating a diverse therapeutic focus [1][2] Financial Summary - Revenue projections for 2024, 2025, and 2026 are 8.801 billion RMB, 9.925 billion RMB, and 11.116 billion RMB, respectively, with growth rates of 12.6%, 12.8%, and 12.0% [2][4] - Net profit estimates for the same years are 1.891 billion RMB, 2.280 billion RMB, and 2.746 billion RMB, with corresponding growth rates of 22.1%, 20.6%, and 20.4% [2][4] - The company’s P/E ratios are projected to be 7, 5, and 4 for 2024, 2025, and 2026, respectively, indicating a favorable valuation trend [2][4]

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 就 因 本 公 告 的 全 部 或 任 何 部 份 內 容 所 產 生 或 因 依 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：1530） 截至二零二三年十二月三十一日止年度 年度業績公告 | --- | --- | |-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | 財務摘要 * | | • | 收入增加人民幣 950. ...

三生制药（1530.HK）深度研究 基本面稳健，生发产品蔓迪及后续管线持续发力 2024年03月08日 ➢ 主营业务稳健，特色产品持续发力。2023H1 实现营业收入 37.8 亿元，同 推荐 首次评级 比增长22.3%；2023H1实现归母净利润9.8亿元，同比增长1.4%。2023H1生 当前价格： 4.94港元 物制品板块收入同比增长 20%；毛发健康板块收入同比增长 36%，618 及双十 一大促电商销售再摘榜首；CDMO收入同比增长72%。 [Table_Author] ➢ 核心产品特比澳以销售额计，继续居于升血小板市场首位。特比澳是 2005 年上市的全球唯一商业化重组血小板生成素。2023 年上半年销售额同比增长 28.2%，主要系于2023年特比澳的医保谈判价格没有下降，此外特比澳产品在 2023 年争取到的政策环境有利产品放量，过去纳入《中国肿瘤化疗相关性血小 板减少症专家诊疗共识》，现在已纳入《中国肿瘤药物相关血小板减少诊疗专家 共识》的推荐用药，覆盖治疗人群得到进一步扩大。按比例计算，今年特比澳产 分析师 王班 品贡献接近40亿元报表收入，特比澳产品营收占总集团营收一半。 执业证书： S ...