Core Insights - Dongrui Pharmaceutical (02348) reported a mid-year performance for 2025, with revenue of approximately 630 million, representing a year-on-year increase of 9.2% [1] - Gross profit was approximately 314 million, showing a year-on-year decrease of 7.1% [1] - Profit attributable to the parent company was approximately 105 million, a significant year-on-year decrease of 78.79% [1] - Earnings per share were 0.06961, with an interim dividend of 0.015 HKD per share [1] Revenue Breakdown - Sales volume of the hypertension treatment "An" series decreased by 5.7%, with sales revenue declining by 22.1%, primarily due to price reductions in certain regions influenced by national procurement policies [1] - Sales volume of the antiviral drug Entecavir dispersible tablets increased by 14.0%, with sales revenue growing by 8.7% [1] - The product series focused on treating hyperlipidemia in Fujian saw a sales volume increase of 19.5% and a sales revenue increase of 16.6% [1] - Sales volume of cephalosporin powder injection increased by 47.9%, with sales revenue rising by 55.7% [1] Production and Operational Insights - With the commercial production of the Suzhou Dongrui Pharmaceutical Co., Ltd. and Lanzhou Dongrui Pharmaceutical Co., Ltd. facilities, the sales volume of intermediates and raw materials increased by 244.8%, and sales revenue grew by 142.7% compared to the same period in 2024 [1] - The decline in profit during this period was attributed to the lack of large-scale commercial production at the Suzhou and Lanzhou facilities, price reductions of "An" series products due to national policies in certain provinces, and increased R&D expenses [1]

EF001 EF001 其他信息 其他信息 不適用 發行人董事 於本公佈刊發之日，本公司董事會成員包括二名執行董事李其玲女士及熊融禮先生；兩名非執行董事梁康民先生及胡碩先生；三名 第 2 頁 共 2 頁 v 1.1.1 第 1 頁 共 2 頁 v 1.1.1 免責聲明 獨立非執行董事勞同聲先生、EDE，Ronald Hao Xi先生及林明儀女士。 | 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，概不對因 | | | --- | --- | | 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | 股票發行人現金股息公告 | | | 發行人名稱 | 東瑞製葯(控股)有限公司 | | 股份代號 | 02348 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至二零二五年六月三十日止六個月之中期股息及暫停辦理股份過户登記手續 | | 公告日期 | 2025年8月22日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 中期（半 ...

[Interim Results Announcement](index=1&type=section&id=Interim%20Results%20Announcement) This section presents the key financial performance, profit or loss, comprehensive income, and financial position for the six months ended June 30, 2025 [Financial Highlights](index=1&type=section&id=Financial%20Highlights) This section outlines the company's key financial performance for the six months ended June 30, 2025, including revenue growth, decreased gross profit, significant reductions in profit before tax and profit for the period, and a notable decline in earnings per share | Metric | 2025 (thousand RMB) | 2024 (thousand RMB) | Change | | :--- | :--- | :--- | :--- | | Revenue | 630,424 | 577,447 | 9.2% | | Gross Profit | 313,978 | 337,912 | -7.1% | | Gross Profit Margin | 49.8% | 58.5% | -8.7 percentage points | | Profit Before Tax | 130,317 | 556,752 | -76.6% | | Profit for the Period | 101,708 | 491,583 | -79.3% | | Net Profit Margin | 16.1% | 85.1% | -69.0 percentage points | | Profit Attributable to Owners of the Parent (excluding 2024 non-recurring profit) | 104,572 | 126,127 | -17.1% | | Basic Earnings Per Share | 0.06961 | 0.3286 | -78.8% | [Condensed Consolidated Statement of Profit or Loss](index=2&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss) This section presents the group's condensed consolidated statement of profit or loss for the six months ended June 30, 2025, detailing revenue, cost of sales, gross profit, other income and gains, various expenses, finance costs, share of loss of associates, profit before tax, income tax, and profit for the period, allocated to owners of the parent and non-controlling interests | Metric | 2025 (thousand RMB) | 2024 (thousand RMB) | | :--- | :--- | :--- | | Revenue | 630,424 | 577,447 | | Cost of Sales | (316,446) | (239,535) | | Gross Profit | 313,978 | 337,912 | | Other Income and Gains | 30,861 | 421,636 | | Selling and Distribution Expenses | (56,830) | (68,911) | | Administrative Expenses | (67,491) | (54,148) | | Research and Development Costs | (56,816) | (43,883) | | Other Expenses | (33,071) | (29,498) | | Finance Costs | (314) | (2,660) | | Profit Before Tax | 130,317 | 556,752 | | Income Tax | (28,609) | (65,169) | | Profit for the Period | 101,708 | 491,583 | | Profit Attributable to Owners of the Parent | 104,572 | 493,046 | | Profit Attributable to Non-controlling Interests | (2,864) | (1,463) | | Basic Earnings Per Share | RMB 0.06961 | RMB 0.3286 | [Condensed Consolidated Statement of Comprehensive Income](index=3&type=section&id=Condensed%20Consolidated%20Statement%20of%20Comprehensive%20Income) This section discloses the group's condensed consolidated statement of comprehensive income for the six months ended June 30, 2025, showing profit for the period and other comprehensive (loss)/income, primarily from exchange differences on translation of foreign operations and the company's financial statements, leading to the total comprehensive income for the period after tax | Metric | 2025 (thousand RMB) | 2024 (thousand RMB) | | :--- | :--- | :--- | | Profit for the Period | 101,708 | 491,583 | | Exchange Differences Arising from Translation of Foreign Operations | (4,848) | 2,516 | | Exchange Differences Arising from Translation of the Company's Financial Statements | (10,350) | 8,473 | | Total Other Comprehensive (Loss)/Income for the Period After Tax | (15,198) | 10,989 | | Total Comprehensive Income for the Period After Tax | 86,510 | 502,572 | | Attributable to Owners of the Parent | 89,374 | 504,035 | | Attributable to Non-controlling Interests | (2,864) | (1,463) | [Condensed Consolidated Statement of Financial Position](index=4&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) This section provides the group's condensed consolidated statement of financial position as of June 30, 2025, and December 31, 2024, detailing non-current assets, current assets, current liabilities, non-current liabilities, and total equity, reflecting the composition and period-end changes in assets, liabilities, and shareholders' equity | Metric | June 30, 2025 (thousand RMB) | December 31, 2024 (thousand RMB) | | :--- | :--- | :--- | | Total Non-current Assets | 1,748,101 | 1,807,035 | | Total Current Assets | 2,134,581 | 2,202,241 | | Total Current Liabilities | 446,960 | 554,603 | | Net Current Assets | 1,687,621 | 1,647,638 | | Total Non-current Liabilities | 132,726 | 128,005 | | Net Assets | 3,302,996 | 3,326,668 | | Total Equity | 3,302,996 | 3,326,668 | [Notes to the Financial Statements](index=6&type=section&id=Notes%20to%20the%20Financial%20Statements) This section provides detailed notes to the financial statements, covering company information, basis of preparation, changes in accounting policies, segment information, revenue, other income and gains, finance costs, profit before tax, income tax, dividends, earnings per share, inventories, trade and bills receivables, and trade and bills payables [Company Information, Basis of Preparation, Changes in Accounting Policies](index=6&type=section&id=Company%20Information%2C%20Basis%20of%20Preparation%2C%20Changes%20in%20Accounting%20Policies) This section explains Dawnrays Pharmaceutical (Holdings) Limited's registration, group restructuring history, main business scope, the basis for preparing interim financial information (IAS 34 and HKEX Listing Rules), and changes in accounting policies adopted during the period, particularly the impact of IAS 21 amendments on currencies lacking exchangeability - The company was incorporated in the Cayman Islands on September 20, 2002, and listed on the Main Board of the Stock Exchange on July 11, 2003, primarily engaging in the development, manufacturing, and sale of generic drugs, including intermediates, APIs, and finished drugs[10](index=10&type=chunk)[11](index=11&type=chunk) - The interim financial information is prepared in accordance with IAS 34 "Interim Financial Reporting" and all applicable disclosure requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, presented in RMB[12](index=12&type=chunk) - The amendments to IAS 21 regarding lack of exchangeability have no impact on this interim condensed consolidated financial information, as the group's transaction and functional currencies are all exchangeable[13](index=13&type=chunk) [Company and Group Information](index=6&type=section&id=Company%20and%20Group%20Information) This section introduces Dawnrays Pharmaceutical (Holdings) Limited's place of incorporation, listing date, and primary business of developing, manufacturing, and selling generic drugs - Dawnrays Pharmaceutical (Holdings) Limited was incorporated in the Cayman Islands on September 20, 2002, and listed on the Main Board of the Stock Exchange on July 11, 2003[10](index=10&type=chunk)[11](index=11&type=chunk) - The Group is primarily engaged in the development, manufacturing, and sale of generic drugs, including intermediates, APIs, and finished drugs[11](index=11&type=chunk) [Basis of Preparation](index=6&type=section&id=Basis%20of%20Preparation) This section states that the interim financial information is prepared in accordance with IAS 34 "Interim Financial Reporting" and the HKEX Listing Rules, presented on a historical cost basis, with RMB as the presentation currency - The interim financial information is prepared in accordance with IAS 34 "Interim Financial Reporting" and all applicable disclosure requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited[12](index=12&type=chunk) - The financial information is prepared on a historical cost basis, except for financial assets and liabilities measured at fair value through profit or loss[12](index=12&type=chunk) [Changes in Accounting Policies and Disclosures](index=7&type=section&id=Changes%20in%20Accounting%20Policies%20and%20Disclosures) This section notes that the accounting policies adopted in this period are consistent with the previous year, with the only new adoption being the revised IAS 21 "Lack of Exchangeability," which has no material impact on the Group's financial information - The accounting policies adopted in the preparation of this interim condensed consolidated financial information are consistent with those used in the preparation of the Group's annual consolidated financial statements for the year ended December 31, 2024[13](index=13&type=chunk) - The amendments to IAS 21 "Lack of Exchangeability" were first adopted in this period's financial information, but as the Group's transaction currencies are all exchangeable, these amendments have no impact on the interim condensed consolidated financial information[13](index=13&type=chunk) [Segment Information](index=7&type=section&id=Segment%20Information) The Group's business is divided into two reportable segments: finished drugs (including antibiotic and non-antibiotic preparations) and intermediates and APIs; management assesses segment performance based on adjusted profit before tax, with finished drugs accounting for the largest share of external sales and significant growth in intermediates and APIs sales - The Group's business is divided into two reportable segments: manufacturing and sale of finished drugs ("Finished Drugs" segment) and manufacturing and sale of intermediates and APIs ("Intermediates and APIs" segment)[14](index=14&type=chunk)[16](index=16&type=chunk) Segment Revenue (External Sales) | Segment Revenue (External Sales) | 2025 (thousand RMB) | 2024 (thousand RMB) | | :--- | :--- | :--- | | Finished Drugs | 590,208 | 560,878 | | Intermediates and APIs | 40,216 | 16,569 | | Total | 630,424 | 577,447 | Segment Results | Segment Results | 2025 (thousand RMB) | 2024 (thousand RMB) | | :--- | :--- | :--- | | Finished Drugs | 250,864 | 264,462 | | Intermediates and APIs | (25,216) | (25,858) | | Total | 225,648 | 238,604 | [Revenue, Other Income and Gains](index=9&type=section&id=Revenue%2C%20Other%20Income%20and%20Gains) During the reporting period, the Group's revenue primarily came from contracts with customers, totaling **RMB 630,424 thousand**, with finished drug sales accounting for the vast majority; total other income and gains were **RMB 30,861 thousand**, a significant decrease from the prior year, mainly due to large gains from the disposal of an associate and government grants in the previous period Revenue Sources | Revenue Source | 2025 (thousand RMB) | 2024 (thousand RMB) | | :--- | :--- | :--- | | Revenue from Contracts with Customers | 630,424 | 577,447 | Other Income and Gains | Other Income and Gains | 2025 (thousand RMB) | 2024 (thousand RMB) | | :--- | :--- | :--- | | Bank Interest Income | 16,649 | 15,498 | | Government Grants | 6,375 | 113,567 | | Gain on Disposal of an Associate | - | 286,670 | | Exchange Gain, Net | 1,103 | - | | Fair Value Gain on Financial Assets at Fair Value Through Profit or Loss, Net | 4,474 | 4,093 | | **Total Other Income and Gains** | **30,861** | **421,636** | - In the first half of 2025, the Mainland China market contributed **RMB 619,773 thousand** in revenue, while other countries contributed **RMB 10,651 thousand**[20](index=20&type=chunk) [Finance Costs](index=11&type=section&id=Finance%20Costs) Total finance costs for the period were **RMB 314 thousand**, a significant decrease from **RMB 2,660 thousand** in the prior period, primarily due to a notable reduction in bank loan interest Finance Cost Items | Finance Cost Item | 2025 (thousand RMB) | 2024 (thousand RMB) | | :--- | :--- | :--- | | Interest on Bank Loans | 157 | 2,492 | | Interest on Discounted Bills Receivable | 155 | 144 | | Interest on Lease Liabilities | 2 | 24 | | **Total** | **314** | **2,660** | [Profit Before Tax](index=12&type=section&id=Profit%20Before%20Tax) Profit before tax was **RMB 130,317 thousand**, a significant decrease from the prior period; this section details various expenses and income affecting profit before tax, including cost of sales, depreciation, R&D costs, employee benefit expenses, inventory write-downs, impairment loss on intangible assets, and government grants Expense/Income Items | Expense/Income Item | 2025 (thousand RMB) | 2024 (thousand RMB) | | :--- | :--- | :--- | | Cost of Sales | 316,446 | 239,535 | | Depreciation of Property, Plant and Equipment | 37,518 | 33,451 | | Research and Development Costs | 56,816 | 43,883 | | Employee Benefit Expenses | 108,715 | 106,147 | | Write-down of Inventories to Net Realizable Value | 21,569 | 24,492 | | Impairment Loss on Intangible Assets | 7,622 | - | | Government Grants | (6,375) | (113,567) | [Income Tax](index=13&type=section&id=Income%20Tax) Total income tax expense for the period was **RMB 28,609 thousand**, a decrease from **RMB 65,169 thousand** in the prior period, with no taxable profit generated in Hong Kong and taxes for Mainland China subsidiaries calculated at local applicable rates Income Tax Items | Income Tax Item | 2025 (thousand RMB) | 2024 (thousand RMB) | | :--- | :--- | :--- | | Current Income Tax Expense | 19,527 | 41,256 | | Deferred Tax | 9,421 | 24,053 | | **Total Tax Expense for the Period** | **28,609** | **65,169** | - The Group generated no taxable profit in Hong Kong, and taxes for its Mainland China subsidiaries are calculated at local applicable tax rates[25](index=25&type=chunk) [Dividends](index=13&type=section&id=Dividends) The Board resolved to declare an interim dividend of **HKD 0.015** per share for the year ending December 31, 2025, consistent with the prior period; total final and special dividends declared for the previous year in this period amounted to **RMB 112,229 thousand** Dividend Types | Dividend Type | 2025 (thousand RMB) | 2024 (thousand RMB) | | :--- | :--- | :--- | | Final Dividend: HKD 0.048 per ordinary share (2023: HKD 0.065) | 67,337 | 90,786 | | Special Dividend: HKD 0.032 per ordinary share (2023: Nil) | 44,892 | - | | Interim Dividend: HKD 0.015 per ordinary share | 20,710 | 20,594 | - The Board declared an interim dividend of **HKD 0.015** per share for the year ending December 31, 2025, totaling approximately **RMB 20,710 thousand**[26](index=26&type=chunk) [Earnings Per Share Attributable to Owners of the Parent](index=14&type=section&id=Earnings%20Per%20Share%20Attributable%20to%20Owners%20of%20the%20Parent) This section details the calculation and results for basic and diluted earnings per share, with basic EPS for the first half of 2025 at **RMB 0.06961**, a significant decrease from **RMB 0.3286** in the prior period [Basic Earnings Per Share](index=14&type=section&id=Basic%20Earnings%20Per%20Share) Basic earnings per share is calculated by dividing the profit attributable to owners of the parent for the period by the weighted average number of ordinary shares outstanding during the period | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Profit Attributable to Owners of the Parent (thousand RMB) | 104,572 | 493,046 | | Weighted Average Number of Ordinary Shares Outstanding for Basic EPS (thousand shares) | 1,502,199 | 1,500,393 | | **Basic Earnings Per Share (RMB)** | **0.06961** | **0.3286** | [Diluted Earnings Per Share](index=14&type=section&id=Diluted%20Earnings%20Per%20Share) Diluted earnings per share calculation considers the dilutive effect of ordinary shares, such as share options, and was **RMB 0.06958** for the first half of 2025 | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Profit Attributable to Owners of the Parent (thousand RMB) | 104,572 | 493,046 | | Weighted Average Number of Ordinary Shares Outstanding for Basic EPS (thousand shares) | 1,502,199 | 1,500,393 | | Dilutive Effect – Weighted Average Number of Ordinary Shares: Share Options (thousand shares) | 822 | 1,935 | | Weighted Average Number of Ordinary Shares Adjusted for Dilutive Effect (thousand shares) | 1,503,021 | 1,502,328 | | **Diluted Earnings Per Share (RMB)** | **0.06958** | **0.3282** | [Inventories](index=15&type=section&id=Inventories) As of June 30, 2025, the Group's total inventories amounted to **RMB 254,100 thousand**, a decrease from **RMB 308,241 thousand** as of December 31, 2024, primarily reflecting reductions in finished goods and raw materials Inventory Categories | Inventory Category | June 30, 2025 (thousand RMB) | December 31, 2024 (thousand RMB) | | :--- | :--- | :--- | | Raw Materials | 87,275 | 98,128 | | Work-in-progress | 52,825 | 55,484 | | Finished Goods | 114,000 | 154,629 | | **Total** | **254,100** | **308,241** | [Trade and Bills Receivables](index=15&type=section&id=Trade%20and%20Bills%20Receivables) As of June 30, 2025, the net book value of trade and bills receivables was **RMB 247,272 thousand**, a decrease from **RMB 267,886 thousand** as of December 31, 2024; the Group primarily transacts with customers on credit, with a typical credit period of three months for major customers Receivables | Receivables | June 30, 2025 (thousand RMB) | December 31, 2024 (thousand RMB) | | :--- | :--- | :--- | | Trade Receivables | 125,335 | 123,895 | | Bills Receivables | 123,534 | 145,588 | | Impairment | (1,597) | (1,597) | | **Net Book Value** | **247,272** | **267,886** | - The aging analysis of trade receivables shows that amounts due within **90 days** account for the largest proportion, totaling **RMB 97,322 thousand**[31](index=31&type=chunk) [Trade and Bills Payables](index=16&type=section&id=Trade%20and%20Bills%20Payables) As of June 30, 2025, total trade and bills payables amounted to **RMB 204,884 thousand**, a decrease from **RMB 221,560 thousand** as of December 31, 2024; trade payables are non-interest bearing and generally settled on a **90-day** credit term Payables | Payables | June 30, 2025 (thousand RMB) | December 31, 2024 (thousand RMB) | | :--- | :--- | :--- | | Within 90 days | 154,804 | 153,810 | | 91 to 180 days | 47,880 | 66,682 | | 181 to 270 days | 506 | 679 | | 271 to 360 days | 547 | 38 | | Over one year | 1,147 | 351 | | **Total** | **204,884** | **221,560** | - Trade payables are non-interest bearing and generally settled on a **90-day** credit term[32](index=32&type=chunk) [Management Discussion and Analysis](index=17&type=section&id=Management%20Discussion%20and%20Analysis) This section provides management's discussion and analysis of the Group's performance, industry environment, business review, product R&D, new products, patent authorization, other matters, honors, and outlook [Overview of Results](index=17&type=section&id=Overview%20of%20Results) The Group's revenue grew by **9.2%** to **RMB 630,424 thousand** in the first half of 2025; however, profit attributable to owners of the parent significantly decreased by **78.8%** to **RMB 104,572 thousand**, mainly due to non-recurring profits in the prior period from the disposal of an associate and government subsidies, with operating profit (excluding non-recurring items) decreasing by **17.1%** | Metric | 2025 (thousand RMB) | 2024 (thousand RMB) | Change | | :--- | :--- | :--- | :--- | | Revenue | 630,424 | 577,447 | 9.2% | | Profit Attributable to Owners of the Parent | 104,572 | 493,046 | -78.8% | | Operating Profit (excluding non-recurring profit) | 104,572 | 126,127 | -17.1% | - The decline in profit is primarily attributed to the Suzhou Dawnrays Shanfeng Road plant and Lanzhou Dawnrays not yet achieving scaled commercial production, price reductions for "An" series products due to centralized procurement, and increased R&D expenses[33](index=33&type=chunk) [Industry Environment](index=17&type=section&id=Industry%20Environment) In the first half of 2025, the pharmaceutical industry faced a complex landscape of policy changes, market competition, and quality enhancement; the National Healthcare Security Administration optimized drug centralized procurement policies, strengthening quality assessment and supervision, expanding procurement coverage, and increasing price transparency, while an aging population and rising incidence of chronic and severe diseases created a broad market for generic drugs, and AI technology profoundly impacted R&D, production, and marketing - In 2025, centralized procurement entered a new phase, with the National Healthcare Security Administration optimizing drug centralized procurement policies, strengthening quality assessment and supervision, and promoting special governance of drug online listing prices[34](index=34&type=chunk) - Global aging and the rising incidence of chronic diseases, tumors, and mental illnesses create a broad market space for generic drugs[34](index=34&type=chunk) - The application of AI technology has a significant impact on various aspects of the pharmaceutical industry, including R&D, production, and marketing, driving pharmaceutical enterprises towards transformation, innovation, and industrial collaboration[35](index=35&type=chunk) [Business Review](index=17&type=section&id=Business%20Review) Overall sales increased by **9.2%** year-on-year during the period; product line performance varied, with "An" series sales decreasing by **22.1%** due to centralized procurement, antiviral drug Entecavir Dispersible Tablets sales growing by **8.7%**, Fujian Dawnrays product series sales increasing by **16.6%**, and Cefazolin powder injection sales growing by **55.7%**, while intermediates and APIs sales significantly increased by **142.7%** due to new plant operations - Overall sales increased by **9.2%** compared to the same period last year[36](index=36&type=chunk) Product Category Sales Changes | Product Category | Sales Volume Change | Sales Value Change | | :--- | :--- | :--- | | "An" Series Products | Decreased by 5.7% | Decreased by 22.1% | | Entecavir Dispersible Tablets | Increased by 14.0% | Increased by 8.7% | | Fujian Dawnrays Product Series | Increased by 19.5% | Increased by 16.6% | | Cefazolin Powder for Injection | Increased by 47.9% | Increased by 55.7% | | Intermediates and APIs | Increased by 244.8% | Increased by 142.7% | - The significant increase in intermediates and APIs sales is primarily due to the successive commercial production at Suzhou Dawnrays Shanfeng Road plant and Lanzhou Dawnrays[37](index=37&type=chunk) [Product Research and Development](index=18&type=section&id=Product%20Research%20and%20Development) The Group leverages the Suzhou Dawnrays Advanced Technology Research Institute as a platform to coordinate R&D teams, undertaking generic drug R&D and technical optimization, continuously investing resources in technological improvements and product R&D innovation, and seeking external collaborations; to integrate R&D resources, the Group has divested its equity in Nanjing Fumeiruisin Technology Co., Ltd., a subsidiary with negative net book assets - The Group utilizes the Suzhou Dawnrays Advanced Technology Research Institute as a platform to coordinate and manage R&D technical teams, undertaking the research and development of raw materials and preparations for generic drugs[38](index=38&type=chunk) - The Group will continue to invest more resources in technological improvements and product R&D innovation, while actively seeking various forms of external cooperation opportunities[38](index=38&type=chunk) - To integrate R&D resources, the Group has sold all its equity in Nanjing Fumeiruisin Technology Co., Ltd., a subsidiary with negative net book assets, to an independent third party, which will not have a significant impact on R&D projects[38](index=38&type=chunk) [New Products and Patent Authorization](index=18&type=section&id=New%20Products%20and%20Patent%20Authorization) During the period, the Group received approval from the National Medical Products Administration's Center for Drug Evaluation for **2 specifications** (Rivaroxaban Tablets 10mg and 15mg), submitted registration applications for **6 other specifications** (3 APIs, 3 preparations) which were accepted, and obtained **2 patent certificates**, including one utility model patent and one invention patent - During the period, **2 specifications** (Rivaroxaban Tablets 10mg and Rivaroxaban Tablets 15mg) received approval from the National Medical Products Administration's Center for Drug Evaluation[39](index=39&type=chunk) - Additionally, **6 specifications** (3 APIs, 3 preparations) have been submitted for registration to the Center for Drug Evaluation and accepted[39](index=39&type=chunk) - The Group obtained **2 patent certificates**: "A Particle Counting Machine Vibration Device" (utility model patent) and "Tedizolid Phosphate for Injection Powder and its Preparation Method" (invention patent)[40](index=40&type=chunk) [Other Matters](index=18&type=section&id=Other%20Matters) The Group consistently adheres to a quality-first management policy, with product quality steadily improving; corporate governance, social responsibility, and environmental safety initiatives are progressing orderly, and significant advancements have been made in optimizing company structure, employee training, performance appraisal reform, digitalization, and risk control - The Group adheres to a quality-first management policy, with product quality steadily improving[41](index=41&type=chunk) - Corporate governance, social responsibility, and environmental safety initiatives are progressing orderly, and the company structure has been further optimized[41](index=41&type=chunk) - Significant progress has been made in employee training, performance appraisal reform, digitalization, and risk control[41](index=41&type=chunk) [Honors](index=19&type=section&id=Honors) In the first half of 2025, several of the Group's subsidiaries received multiple honors, including "Special Award for Outstanding Economic Contribution Enterprise," "Outstanding Employer" recognition, "Fujian Province New Excellent Pharmaceutical and Classic Traditional Chinese Medicine Products" certification, and "Specialized, Refined, Unique, and Novel" SME certification - Fujian Dawnrays Pharmaceutical Co., Ltd. was awarded the "2024 Special Award for Outstanding Economic Contribution Enterprise" by the Licheng District People's Government and the "2024 Outstanding Economic Contribution (Taxation of RMB 50 million - 100 million)" honor by the Putian Municipal People's Government[42](index=42&type=chunk) - Suzhou Dawnrays Pharmaceutical Co., Ltd. was awarded the "2025 Outstanding Employer" honor by 51job[42](index=42&type=chunk) - Lanzhou Dawnrays Pharmaceutical Co., Ltd. was recognized as a "Specialized, Refined, Unique, and Novel" SME by the Gansu Provincial Department of Industry and Information Technology[42](index=42&type=chunk) [Outlook](index=19&type=section&id=Outlook) Facing intensifying competition in the generic drug industry and deepening healthcare cost control policies, the Group will continue to increase R&D investment, focus on core areas, combine imitation with innovation, and actively explore the broader health and non-medical insurance consumer goods markets to create a second growth curve; simultaneously, it will uphold quality-first principles, optimize production processes, reduce costs, expand domestic and international markets through multiple channels, apply AI and other digital technologies to enhance operational efficiency, and improve talent development and incentive mechanisms - The Group will continue to increase R&D investment, leverage the Advanced Technology Research Institute platform, focus on core areas, combine imitation with innovation, and strengthen cooperation with universities and research institutions[43](index=43&type=chunk) - Actively explore the broader health sector and non-medical insurance healthcare consumer goods, seek external partners, expand new businesses, and create a second growth curve[43](index=43&type=chunk) - Continue to uphold the business philosophy of customer-first and quality-first, organize production strictly in accordance with GMP requirements, and optimize production processes, introduce advanced equipment and technology, and reduce production costs[43](index=43&type=chunk) - For the domestic market, actively participate in centralized drug procurement to expand market share; for the international market, systematically carry out international certification work[44](index=44&type=chunk) - Formulate a five-year plan, from business digitalization and digital empowerment to AI intelligent integration and innovation, applying new technologies to R&D, production, sales, and management to build a digital technology platform[44](index=44&type=chunk) - Improve talent recruitment plans, implement three major human resource systems, establish a scientific and reasonable talent development and career progression system, and enhance performance management and incentive mechanisms[45](index=45&type=chunk) [Financial Review](index=20&type=section&id=Financial%20Review) This section provides a financial review of the Group's sales, gross profit, expenses, segment profit, profit attributable to owners of the parent, and asset profitability analysis [Sales and Gross Profit](index=20&type=section&id=Sales%20and%20Gross%20Profit) During the period, turnover increased by **9.2%** to **RMB 630,424 thousand**, with finished drug sales growing by **5.2%** and intermediates and APIs sales significantly increasing by **142.7%**; finished drug sales accounted for **93.6%** of total turnover, while gross profit decreased by **7.1%** year-on-year to **RMB 313,978 thousand**, and gross profit margin declined by **8.7 percentage points** to **49.8%**, mainly due to high production costs for intermediates and APIs that have not yet reached full capacity and decreased gross profit for "An" series products | Metric | 2025 (thousand RMB) | 2024 (thousand RMB) | Change | | :--- | :--- | :--- | :--- | | Turnover | 630,424 | 577,447 | 9.2% | | Finished Drug Sales | 590,208 | 560,878 | 5.2% | | Intermediates and APIs Sales | 40,216 | 16,569 | 142.7% | | Gross Profit | 313,978 | 337,912 | -7.1% | | Gross Profit Margin | 49.8% | 58.5% | -8.7 percentage points | - Finished drug sales accounted for approximately **93.6%** of total sales, a **3.5 percentage point** decrease from the previous year[46](index=46&type=chunk) - Export sales amounted to approximately **RMB 10,651 thousand**, accounting for **1.7%** of total turnover, a year-on-year increase of **229.0%**[46](index=46&type=chunk) [Expenses](index=21&type=section&id=Expenses) Total expenses for the period were approximately **RMB 214,522 thousand**, accounting for **34.0%** of turnover, a **0.5 percentage point** decrease from the prior period; selling expenses decreased, while administrative expenses, R&D expenses, and other expenses all increased Expense Categories | Expense Category | 2025 (thousand RMB) | 2024 (thousand RMB) | Change | | :--- | :--- | :--- | :--- | | Selling Expenses | 56,830 | 68,911 | -12,081 (Decreased by 17.5%) | | Administrative Expenses | 67,491 | 54,148 | +13,343 (Increased by 24.6%) | | Research and Development Expenses | 56,816 | 43,883 | +12,933 (Increased by 29.5%) | | Other Expenses | 33,071 | 29,498 | +3,573 (Increased by 12.1%) | | **Total Expenses** | **214,522** | **199,140** | **+15,382 (Increased by 7.7%)** | - The decrease in selling expenses is mainly due to the increased proportion of centralized procurement products; the increase in administrative expenses is primarily due to the reclassification of surtaxes and intangible asset amortization expenses; R&D expenses increased by **29.5%**; the increase in other expenses is mainly due to inventory write-downs and idle capacity losses from high unit costs of Suzhou Dawnrays and Lanzhou Dawnrays products, as well as impairment loss on intangible assets of Nanjing Fumeiruisin[49](index=49&type=chunk) [Segment Profit](index=21&type=section&id=Segment%20Profit) Finished drug segment profit decreased to **RMB 250,864 thousand**, mainly due to the impact of centralized procurement policies leading to a decline in gross profit; the intermediates and APIs segment reported a loss of approximately **RMB 25,216 thousand**, similar to the prior period, primarily due to increased costs from the Suzhou Dawnrays Shanfeng Road plant and Lanzhou Dawnrays not yet reaching full production capacity Segment Profit/Loss | Segment Profit/Loss | 2025 (thousand RMB) | 2024 (thousand RMB) | Change | | :--- | :--- | :--- | :--- | | Finished Drugs Segment | 250,864 | 264,462 | -13,598 | | Intermediates and APIs Segment | (25,216) | (25,858) | +642 | - The decrease in finished drug segment profit is mainly due to the impact of centralized procurement on "An" series products, leading to a decline in gross profit[50](index=50&type=chunk) - The loss in the intermediates and APIs segment is primarily due to increased costs resulting from the Suzhou Dawnrays Shanfeng Road plant and Lanzhou Dawnrays not yet reaching full production capacity[50](index=50&type=chunk) [Profit Attributable to Owners of the Parent](index=21&type=section&id=Profit%20Attributable%20to%20Owners%20of%20the%20Parent) Profit attributable to owners of the parent for the period was **RMB 104,572 thousand**, a year-on-year decrease of **78.8%**; excluding the net gain from the disposal of Kangrong Dongfang equity and government subsidies for Suzhou Dawnrays in 2024, operating profit decreased by **17.1%** year-on-year | Metric | 2025 (thousand RMB) | 2024 (thousand RMB) | Change | | :--- | :--- | :--- | :--- | | Profit Attributable to Owners of the Parent | 104,572 | 493,046 | -78.8% | | Excluding Non-recurring Profit | 104,572 | 126,127 | -17.1% | - Non-recurring profit in 2024 included a net gain of approximately **RMB 277,627 thousand** from the disposal of a **35%** equity interest in Kangrong Dongfang and a net gain of approximately **RMB 89,292 thousand** from government subsidies for equipment validation at Suzhou Dawnrays Tianling Road[51](index=51&type=chunk) [Asset Profitability Analysis](index=21&type=section&id=Asset%20Profitability%20Analysis) As of June 30, 2025, the return on net assets was **3.2%**, a significant decrease from **15.1%** in 2024; the current ratio and quick ratio were **4.78** and **4.21**, respectively; accounts receivable turnover period was approximately **74 days**, a **22-day** reduction year-on-year, and inventory turnover period was approximately **160 days**, an **8-day** reduction year-on-year, indicating improved management of receivables and inventories | Metric | June 30, 2025 | 2024 | | :--- | :--- | :--- | | Return on Net Assets | 3.2% | 15.1% | | Current Ratio | 4.78 | - | | Quick Ratio | 4.21 | - | | Accounts Receivable (including trade and bills receivables) Turnover Period | Approx. 74 days | (Decreased by 22 days year-on-year) | | Inventory Turnover Period | Approx. 160 days | (Decreased by 8 days year-on-year) | - The decrease in accounts receivable turnover period is mainly due to strengthened management of accounts receivable[52](index=52&type=chunk) - The decrease in inventory turnover period is mainly due to Suzhou Dawnrays' lean production activities reducing inventory[52](index=52&type=chunk) [Liquidity and Financial Resources](index=22&type=section&id=Liquidity%20and%20Financial%20Resources) This section details the Group's cash and financial assets, cash flow, bank facilities, debt ratio, and inventory balance, providing an overview of its liquidity and financial health [Cash and Financial Assets](index=22&type=section&id=Cash%20and%20Financial%20Assets) As of June 30, 2025, the Group held cash and bank balances of approximately **RMB 1,139,131 thousand**, and financial assets at fair value through profit or loss totaling approximately **RMB 281,353 thousand**, including investments in listed shares and principal-protected floating-rate structured deposits Asset Categories | Asset Category | June 30, 2025 (thousand RMB) | December 31, 2024 (thousand RMB) | | :--- | :--- | :--- | | Cash and Bank Balances | 1,139,131 | 1,158,261 | | Financial Assets at Fair Value Through Profit or Loss | 281,353 | 227,135 | | Bills Receivable | 123,534 | 145,588 | - Financial assets at fair value through profit or loss include approximately **RMB 15,356 thousand** in Hong Kong listed share investments and approximately **RMB 245,200 thousand** in principal-protected floating-rate structured deposits[53](index=53&type=chunk)[55](index=55&type=chunk) [Cash Flow](index=22&type=section&id=Cash%20Flow) During the period, net cash inflow from operating activities was approximately **RMB 201,983 thousand**, net cash outflow from investing activities was approximately **RMB 439,071 thousand**, and net cash outflow from financing activities was approximately **RMB 127,398 thousand**, resulting in a net decrease in cash and cash equivalents of approximately **RMB 364,486 thousand** Cash Flow Activities | Cash Flow Activity | 2025 (thousand RMB) | 2024 (thousand RMB) | | :--- | :--- | :--- | | Net Cash Inflow from Operating Activities | 201,983 | 171,454 | | Net Cash Outflow from Investing Activities | (439,071) | 29,185 (Inflow) | | Net Cash Outflow from Financing Activities | (127,398) | (31,428) | | **Net Change in Cash and Cash Equivalents** | **(364,486)** | **169,211 (Increase)** | [Bank Facilities and Debt Ratio](index=22&type=section&id=Bank%20Facilities%20and%20Debt%20Ratio) As of June 30, 2025, the Group's total bank facilities amounted to **RMB 1,713,000 thousand**, interest-bearing bank and other borrowings were approximately **RMB 8,995 thousand**, and the debt ratio was **0.2%**, indicating low financial leverage Bank Facilities and Debt Ratio | Metric | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total Bank Facilities | RMB 1,713,000 thousand | RMB 1,613,000 thousand | | Interest-bearing Bank and Other Borrowings | RMB 8,995 thousand | RMB 29,864 thousand | | Debt Ratio | 0.2% | 0.7% | [Inventory Balance](index=23&type=section&id=Inventory%20Balance) As of June 30, 2025, the Group's inventory balance was approximately **RMB 254,100 thousand**, a decrease from **RMB 308,241 thousand** as of December 31, 2024 Inventory Balance | Metric | June 30, 2025 (thousand RMB) | December 31, 2024 (thousand RMB) | | :--- | :--- | :--- | | Inventory Balance | 254,100 | 308,241 | [Major Investments and Asset Changes](index=23&type=section&id=Major%20Investments%20and%20Asset%20Changes) This section outlines the Group's major investments and asset changes, including the Lanzhou Dawnrays project, Suzhou Dawnrays relocation project, divestment of Fumeiruisin equity, and goodwill and capital expenditure commitments [Lanzhou Dawnrays Project](index=23&type=section&id=Lanzhou%20Dawnrays%20Project) Lanzhou Dawnrays, an API and intermediate production base, has a registered capital of **RMB 540,344 thousand**, with Suzhou Dawnrays investing **RMB 34,594 thousand** in subscribed capital during the period; Phase I of the project is completed and in production, while Phase II plans an investment of **RMB 29,000 thousand** for new product equipment additions and process improvements - Lanzhou Dawnrays has a registered capital of **RMB 540,344 thousand**, with Suzhou Dawnrays investing **RMB 34,594 thousand** in subscribed capital during the period[57](index=57&type=chunk) - Phase I of the project has been completed and put into production, and Phase II plans an investment of **RMB 29,000 thousand** for new product equipment additions and process improvements[57](index=57&type=chunk) [Suzhou Dawnrays Relocation Project](index=23&type=section&id=Suzhou%20Dawnrays%20Relocation%20Project) The overall relocation project of Suzhou Dawnrays Tianling Road plant is completed, with **RMB 175,595 thousand** in demolition compensation received, and the remaining balance being pursued; currently, the Shanfeng Road environmental protection building and Minfeng Road plant workshop renovation projects are underway, with an investment of approximately **RMB 27,000 thousand** - The overall relocation project of Suzhou Dawnrays Tianling Road plant has been completed, and **RMB 175,595 thousand** in demolition compensation has been received[57](index=57&type=chunk) - Currently, the Shanfeng Road environmental protection building project and Minfeng Road plant workshop renovation project are underway, with a total investment of approximately **RMB 27,000 thousand**[57](index=57&type=chunk) [Divestment of Fumeiruisin Equity](index=23&type=section&id=Divestment%20of%20Fumeiruisin%20Equity) To integrate R&D resources, the Group transferred its **65%** equity interest in Nanjing Fumeiruisin Technology Co., Ltd., a controlled subsidiary with negative net book assets, to an independent third party for **RMB 100 thousand** on June 9, 2025 - On June 9, 2025, the Group transferred its **65%** equity interest in Nanjing Fumeiruisin Technology Co., Ltd. to an independent third party for **RMB 100 thousand**[58](index=58&type=chunk) - The reason for the disposal is to integrate R&D resources, as Fumeiruisin's net book assets had become negative due to continuous losses over the years[58](index=58&type=chunk) [Goodwill and Capital Expenditure Commitments](index=23&type=section&id=Goodwill%20and%20Capital%20Expenditure%20Commitments) As of June 30, 2025, the goodwill of **RMB 241,158 thousand** arising from the acquisition of Fujian Dawnrays Pharmaceutical Co., Ltd. showed no signs of impairment; the Group had contracted but unprovided capital expenditure commitments for plant and machinery totaling approximately **RMB 41,513 thousand**, mainly related to the Lanzhou Dawnrays and Suzhou Dawnrays projects - As of June 30, 2025, the goodwill of **RMB 241,158 thousand** arising from the acquisition of Fujian Dawnrays Pharmaceutical Co., Ltd. showed no signs of impairment[58](index=58&type=chunk) - Contracted but unprovided capital expenditure commitments for plant and machinery totaled approximately **RMB 41,513 thousand**, mainly involving the Lanzhou Dawnrays project and the Suzhou Dawnrays relocation and renovation projects[58](index=58&type=chunk) [Other Disclosures](index=24&type=section&id=Other%20Disclosures) This section covers other disclosures, including foreign currency and treasury policy, employees and remuneration policy, asset pledges, contingent liabilities, future major investments and expected funding sources, and purchase, redemption, or sale of listed securities [Foreign Currency and Treasury Policy](index=24&type=section&id=Foreign%20Currency%20and%20Treasury%20Policy) During the period, the Group recorded an exchange gain of approximately **RMB 1,103 thousand**, with most business transactions settled in RMB, indicating limited foreign exchange risk, primarily related to HKD dividend payments; the Group will continue to monitor foreign exchange and interest rate market conditions and hedge risks when necessary - An exchange gain of approximately **RMB 1,103 thousand** was recorded during the period (2024: loss of approximately **RMB 2,689 thousand**)[59](index=59&type=chunk) - Most of the Group's business transactions are settled in RMB, so foreign exchange risk is not significant, primarily related to HKD dividend payments[59](index=59&type=chunk) - The Group will continue to monitor foreign exchange and interest rate market conditions and, when necessary, hedge foreign exchange risk with forward foreign exchange contracts and interest rate risk with interest rate swap contracts[59](index=59&type=chunk) [Employees and Remuneration Policy](index=24&type=section&id=Employees%20and%20Remuneration%20Policy) As of June 30, 2025, the Group had **1,116 employees**, with total staff costs for the period amounting to approximately **RMB 108,715 thousand**, mainly due to annual salary adjustments; the Group values talent, offering market-competitive remuneration, retirement plans, share option schemes, and medical benefits Employees and Remuneration Policy | Metric | June 30, 2025 | 2024 | | :--- | :--- | :--- | | Number of Employees | 1,116 | - | | Total Staff Costs (thousand RMB) | 108,715 | 106,147 | - The increase in staff costs is primarily due to annual salary adjustments[60](index=60&type=chunk) - Remuneration policy refers to market compensation benchmarks and employee qualifications, offering defined contribution retirement plans, share option schemes, and medical benefits[60](index=60&type=chunk) [Asset Pledges](index=24&type=section&id=Asset%20Pledges) As of June 30, 2025, the Group had no assets pledged to banks to secure credit facilities - As of June 30, 2025, the Group had no assets pledged to banks to secure credit facilities granted to its subsidiaries[61](index=61&type=chunk) [Contingent Liabilities](index=24&type=section&id=Contingent%20Liabilities) As of June 30, 2025, the Group had no significant contingent liabilities - As of June 30, 2025, the Group had no significant contingent liabilities[62](index=62&type=chunk) [Future Major Investments and Expected Funding Sources](index=24&type=section&id=Future%20Major%20Investments%20and%20Expected%20Funding%20Sources) Apart from disclosed capital expenditure commitments, increased registered capital for subsidiaries, and capital investments in relocation projects, the Group has no other future major investment plans; the Group possesses sufficient financial and internal resources but may still use bank loans or internal resources to fund capital expenditures - Apart from disclosed capital expenditure commitments, increased registered capital for subsidiaries, and capital investments in relocation projects, the Group has no other future major investment plans[63](index=63&type=chunk) - The Group has sufficient financial and internal resources, but may still use bank loans or its internal resources to fund the aforementioned capital expenditure commitments[58](index=58&type=chunk) [Purchase, Redemption or Sale of Listed Securities](index=24&type=section&id=Purchase%2C%20Redemption%20or%20Sale%20of%20Listed%20Securities) For the six months ended June 30, 2025, neither the Company nor any of its subsidiaries purchased, redeemed, or sold any of the Company's listed securities - For the six months ended June 30, 2025, neither the Company nor any of its subsidiaries purchased, redeemed, or sold any of the Company's listed securities[64](index=64&type=chunk) [Corporate Governance](index=25&type=section&id=Corporate%20Governance) This section details the Company's compliance with the Corporate Governance Code, adherence to the Standard Code for Securities Transactions, and the role of the Audit Committee [Compliance with Corporate Governance Code](index=25&type=section&id=Compliance%20with%20Corporate%20Governance%20Code) For the six months ended June 30, 2025, the Company consistently complied with the Corporate Governance Code in Appendix C1 of the Listing Rules, with one exception where a non-executive director was unable to attend the annual general meeting due to other business arrangements - The Company has consistently complied with the Corporate Governance Code in Appendix C1 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited[65](index=65&type=chunk) - There was one deviation: Mr. Liang Kangmin, a non-executive director, was unable to attend the annual general meeting due to other business arrangements[65](index=65&type=chunk) [Standard Code for Securities Transactions](index=25&type=section&id=Standard%20Code%20for%20Securities%20Transactions) The Company has adopted the Standard Code in Appendix C3 of the Listing Rules as the code of conduct for directors' dealings in the Company's securities and confirms that directors have complied with this code during the reporting period - The Company has adopted the Standard Code in Appendix C3 of the Listing Rules as the code of conduct for directors' dealings in the Company's securities[66](index=66&type=chunk) - During the six months ended June 30, 2025, the directors have complied with the standards set out in the Standard Code[66](index=66&type=chunk) [Audit Committee](index=25&type=section&id=Audit%20Committee) The Company has established an Audit Committee in compliance with Listing Rule 3.21 to oversee the financial reporting system, risk management, and internal control systems; the Audit Committee has reviewed the unaudited condensed consolidated interim financial statements for the period - The Company established an Audit Committee in compliance with Listing Rule 3.21 to oversee the Group's financial reporting system, risk management, and internal control systems[67](index=67&type=chunk) - The Audit Committee has reviewed the Company's unaudited condensed consolidated interim financial statements for the six months ended June 30, 2025, prior to their submission to the Board for approval[67](index=67&type=chunk) [Dividends and Others](index=25&type=section&id=Dividends%20and%20Others) This section covers the interim dividend declaration, suspension of share transfer registration for dividend entitlement, and an acknowledgement of gratitude [Interim Dividend](index=25&type=section&id=Interim%20Dividend) The Board resolved to declare an interim dividend of **HKD 0.015** per share for the year ending December 31, 2025, totaling approximately **HKD 22,546 thousand** - The Board resolved to declare an interim dividend of **HKD 0.015** per share for the year ending December 31, 2025, totaling approximately **HKD 22,546 thousand** (equivalent to approximately **RMB 20,710 thousand**)[68](index=68&type=chunk) [Suspension of Share Transfer Registration](index=25&type=section&id=Suspension%20of%20Share%20Transfer%20Registration) To determine eligibility for the interim dividend, the Company will suspend share transfer registration from September 18 to September 19, 2025, with the record date being September 19, 2025 - To determine eligibility for the interim dividend, the Company will suspend share transfer registration from September 18 to September 19, 2025 (both dates inclusive)[69](index=69&type=chunk) - The record date for determining shareholders' entitlement to receive the interim dividend is Friday, September 19, 2025[70](index=70&type=chunk) [Acknowledgement](index=26&type=section&id=Acknowledgement) The Chairman, on behalf of the Board, expresses sincere gratitude to shareholders, directors, business partners, management, and employees for their support to the Group during the period - The Chairman, on behalf of the Board, expresses sincere gratitude to the Company's shareholders, directors, and all business partners, management, and employees of the Group for their support during the period[71](index=71&type=chunk)

Core Viewpoint - Dongrui Pharmaceutical (02348.HK) announced that it will hold a board meeting on August 22, 2025, to consider and approve the interim results for the six months ending June 30, 2025, and to discuss the potential declaration of an interim dividend, if any [1] Group 1 - The board meeting is scheduled for August 22, 2025 [1] - The meeting will focus on the interim results for the six months ending June 30, 2025 [1] - The company will also consider the declaration of an interim dividend during the meeting [1]

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之內容概不負責，對其準確性或完整性 亦不發表任何聲明，並明確表示概不對因本公告全部或任何部分內容而產生或因依賴該等內容而引致之 任何損失承擔任何責任。 承董事會命 東瑞製葯(控股)有限公司 主席 李其玲 香港，二零二五年八月十一日 於本公告日期，本公司董事會包括兩名執行董事李其玲女士及熊融禮先生；兩名非執行董事梁 康民先生及胡碩先生；以及三名獨立非執行董事勞同聲先生、EDE, Ronald Hao Xi先生及林明儀 女士。 * 僅供識別 DAWNRAYS PHARMACEUTICAL (HOLDINGS) LIMITED 東瑞製葯（控股）有限公司* （於開曼群島註冊成立的有限公司） （股份代號：2348） 董事會召開日期 東瑞製葯（控股）有限公司（「本公司」）董事會（「董事會」）謹此宣佈，本公司將 於二零二五年八月二十二日（星期五）舉行董事會會議，藉以（其中包括）考慮及批准 本公司及其附屬公司截至二零二五年六月三十日止六個月之中期業績及其刊發，以及考 慮派付中期股息（如有）。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02348 | 說明 | 東瑞製葯(控股)有限公司 | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 20,000,000,000 HKD | | | 0.05 HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 20,000,000,000 HKD | | | 0.05 HKD | | 1,000,000,000 | 本月底法定/註冊股本總額： HKD 1,000,000,000 第 1 頁 共 10 頁 v 1.1.1 FF301 FF301 II. ...

李其玲女士 (主席) 熊融禮先生 非執行董事 梁康民先生 胡碩先生 DAWNRAYS PHARMACEUTICAL (HOLDINGS) LIMITED 東瑞製葯（控股）有限公司* （於開曼群島註冊成立的有限公司） （股份代號：2348） 董事名單及其角色和職能 東瑞製葯(控股)有限公司董事會（「董事會」）成員載列如下: 執行董事 | 董事 | | 董事委員會 | | | --- | --- | --- | --- | | | 審核委員會 | 薪酬委員會 | 提名委員會 | | 李其玲 | | M | C | | 勞同聲 | C | M | M | | EDE, Ronald Hao Xi | M | C | M | | 林明儀 | M | M | M | 附註： C 有關委員會的主席 M 有關委員會的成員 香港，二零二五年八月一日 * 以供識別之用 獨立非執行董事 勞同聲先生 EDE, Ronald Hao Xi先生 林明儀女士 董事會轄下設立3個委員會。下表提供董事會成員在該等委員會中所擔任的職位。 ...

智通财经APP讯，东瑞制药(02348)发布公告，胡硕先生已获委任为公司非执行董事，自2025年8月1日起 生效。 ...

Core Viewpoint - Dongrui Pharmaceutical (02348) announced the appointment of Mr. Hu Shuo as a non-executive director, effective from August 1, 2025 [1] Company Summary - The appointment of Mr. Hu Shuo is a strategic move for Dongrui Pharmaceutical, indicating potential changes in governance and direction [1]

Group 1 - The core point of the article is the appointment of Hu Shuo as a non-executive director of Dongrui Pharmaceutical, effective from August 1, 2025 [1]