药明康德20240730_1_导读 2024年07月31日 01:29 关键词 药明康德 胡振国 经营情况 收入 利润 全球客户 研发 生产能力 订单 毛利率 净利率 财务情况 美国礼仪法 案 订单增长 化学业务 质量体系 知识产权保护 新药研发 自动化效率 产能建设 章节速览 ● 00:00 辽明康德上半年经营情况 ● 08:31 无锡testing上半年收入同比下降2.4% ● 12:03 公司上半年的财务数据 ● 24:20 介绍化学业务的情况 ● 29:11 黄志刚介绍订单的具体口径 ● 32:12 公司的价格体系得以完成 ● 35:58 朱家成介绍员工人数下降的主要因 ● 40:19 公司的价格策略和业务板块 ● 47:13 介绍开始业务的具体的规划情况 问答回顾 发言人 问：药明康德2024年上半年经营情况如何？药明康德的研发与生产能力是否受到影响？ 发言人 答：药明康德副董事长兼全球首席投资官胡振国先生表示，公司在2024年上半年取得了稳健的 表现，尽管受到外部环境挑战的影响，但公司总收入仍达到172.4亿元人民币，虽然同比下降68.6%，但 在剔除非新冠商业化项目后仅下降0.7%。调整后的经调 ...

● 故美洋集-洋林(文林) | --- | |------------| | 技术教育 | | 状食价(无) | | | 等庭冲炎产(无)18.79 必聚本(化酸)29.12 蒸逝 12 月市场表现 茶丈 水 SAC 证书简予：S0160517100001 zhangwenlu@ctsec.com • 相关报告 1.《业绩符合预期,24 午级特稳健增长》 2024-03-21 2. 《妆入增长稳健，利润减表现优于找 入流》 2023-11-01 3. 《Q2 制除新经收入增长至劲，利润 及現金流持续改革》 2023-08-01 . � 苏明康德(603259)/ 医疗服务 / 公司总计 / 2024.07.30 在手订单增速報快 . 重业绩相对 ■ 证券好文报告 2019年 • 事件：24H1 失现警戒 172.41 亿元 (-8.64%)，曾非非利润 42.40 亿元 (-20.20%)，经 调娄 Non-IFRS 甘亭本村河 43.7 亿元 (-14.2%)；单 Q2 实现营收 92.59 亿元 (-6.55%). 均享 22.98 亿元（-26.94%） 经调梦 Non-IFRS 均享冷利润为 24.6 ...

[Table_Title] 维持全年指引不变，TIDES 业务逆势增长 [Table_ReportDate] 2024 年 07 月 30 日 [Table_S 事件：药明康德 ummary]发布 2024 年中报。公司 2024 H1 实现收入 172.41 亿元（同 比-8.64%），归母净利润 42.40 亿元（同比-20.2%），扣非归母净利润 44.14 亿元（同比-8.33%），经调整 Non-IFRS 净利润 43.72 亿元（同比-14.2%）, 经营活动现金流净额为 49.66 亿元（同比-11.29%）。2024 年 Q2 实现收入 92.59 亿元（同比-6.55%），归母净利润 22.98 亿元（同比-26.94%），扣非 归母净利润 23.80 亿元（同比-17.73%），经调整 Non-IFRS 净利润 24.6 亿 元（同比-10.64%）。 点评： ➢ 盈利能力小幅降低，费用率相对稳定。利润率方面，2024 H1 公司实现 综合毛利率 39.37%（-1.1pp），归母净利率 24.59%（-3.6pp），扣非归 母净利率 25.60%（+0.4pp），经调整 Non-IFRS ...

Investment Rating - The report maintains a "Recommended" rating for WuXi AppTec [2][3] Core Views - WuXi AppTec's revenue for the first half of 2024 was 17.24 billion yuan, a year-on-year decrease of 8.6%, with a net profit attributable to shareholders of 4.24 billion yuan, down 20.2% [1] - The company has seen a significant increase in orders, with a total of 43.1 billion yuan in hand orders, representing a year-on-year growth of 33.2% when excluding COVID-19 projects [1] - The report highlights a continued demand for integrated services, with the company maintaining its revenue guidance for 2024 at 38.3-40.5 billion yuan, reflecting a year-on-year growth of 2.7%-8.6% when excluding COVID-19 projects [1] Summary by Sections Financial Performance - In Q2 2024, WuXi AppTec achieved revenue of 9.26 billion yuan, a quarter-on-quarter increase of 16.0%, with adjusted net profit of 2.46 billion yuan, up 28.5% [1] - The company reported a non-COVID revenue growth of approximately 0.3% in Q2 [1] Business Segments - The R&D segment saw revenue of 12.21 billion yuan, with a non-COVID growth rate of 2.1% [2] - The TIDES business experienced rapid growth, achieving revenue of 2.08 billion yuan, a year-on-year increase of 57.2%, with hand orders up 147% [2] - The testing and biology segments faced challenges, with WuXi Testing revenue at 3.02 billion yuan, down 2.4%, and WuXi Biology revenue at 1.17 billion yuan, down 5.2% [2] Future Projections - The report forecasts net profits for WuXi AppTec of 9.40 billion yuan in 2024, 10.65 billion yuan in 2025, and 12.17 billion yuan in 2026, with corresponding PE ratios of 12, 11, and 9 [3]

Investment Rating - The report maintains a "Buy" rating for WuXi AppTec (603259.SH) [1] Core Views - The company reported a revenue of 17.241 billion RMB for the first half of 2024, a year-over-year decrease of 8.64%, and a net profit attributable to shareholders of 4.24 billion RMB, down 20.20% year-over-year. However, the second quarter showed a revenue of 9.26 billion RMB, reflecting a quarter-over-quarter growth of 15.9% and a net profit of 2.29 billion RMB, up 18.3% quarter-over-quarter [1][2] - The company has maintained a robust client base with over 6,000 active clients and added more than 500 new clients during the reporting period. As of June 30, 2024, the company had an order backlog of 43.1 billion RMB, which represents a year-over-year growth of 33.2% when excluding specific commercial production projects [2] - The integrated CRDMO (Contract Research, Development, and Manufacturing Organization) business model has shown collaborative growth across multiple business segments, with notable revenue increases in various divisions, particularly the TIDES business, which saw a 57.2% year-over-year growth [2] Summary by Sections Performance Overview - For the first half of 2024, the company achieved a revenue of 17.241 billion RMB, a decrease of 8.64% year-over-year, and a net profit of 4.24 billion RMB, down 20.20% year-over-year. The basic earnings per share were 1.46 RMB, with a weighted average return on equity (ROE) of 7.62%. In the second quarter, revenue was 9.26 billion RMB, reflecting a quarter-over-quarter increase of 15.9%, and net profit was 2.29 billion RMB, up 18.3% quarter-over-quarter [1] Business Analysis - The company has successfully maintained a client base of over 6,000 active clients while adding more than 500 new clients. The order backlog as of June 30, 2024, stood at 43.1 billion RMB, with a year-over-year growth of 33.2% when excluding specific commercial production projects. The WuXi Chemistry segment generated 12.21 billion RMB in revenue, a 2.1% year-over-year increase when excluding COVID-19 commercial projects. The TIDES business experienced a strong revenue growth of 57.2% year-over-year, with a backlog increase of 147% [2] Profit Forecast and Valuation - The report forecasts the company's net profit attributable to shareholders for 2024, 2025, and 2026 to be 9.7 billion RMB, 10.8 billion RMB, and 12.5 billion RMB, respectively, corresponding to price-to-earnings (PE) ratios of 16, 15, and 13 times [3]

1 药明康德 2024年上半年业绩 2024年7月30日 603259.SH / 2359.HK 前瞻性陈述 本演示材料有若干前瞻性陈述，该等前瞻性陈述并非历史事实，乃基于本公司的信念、管理层所作出的假设以及现时所掌握的资料而对未来事件做出的预测。尽管本 公司相信所做的预测合理，但是基于未来事件固有的不确定性，前瞻性陈述最终或变得不正确。前瞻性陈述受到以下相关风险的影响，其中包括本公司所提供的服务 的有效竞争力、能够符合扩展服务的时间表、保障客户知识产权的能力、行业竞争、国际政策变动、紧急情况及不可抗力的影响。因此，阁下应注意，依赖任何前瞻 性陈述涉及已知及未知的风险。本演示材料载有的所有前瞻性陈述需参照本部分所列的提示声明。本演示材料所载的所有信息仅以截至本演示材料做出当日为准，且 仅基于当日的假设，除法律有所规定外，本公司概不承担义务对该等前瞻性陈述更新。 Non-IFRS 财务计量 为补充本公司按照国际财务报告准则呈列的综合财务报表，本公司提供non-IFRS毛利和non-IFRS归属于上市公司股东的净利润(不包括股权激励费用、可转股债券发 行成本、可转股债券衍生金融工具部分的公允价值变动损益、汇兑波动 ...

本报告仅供 Choice 东方财富 使用，请勿传阅。 2024 年 07 月 29 日 药明康德(603259.SH) 998345899 公司快报 2024H1 公司持续稳健经营，利润环比 稳步提升 事件： 2024 年 7 月 29 日公司发布了 2024 年半年度报告，2024H1 公司分别 实现营收和扣非后归母净利润 172.41 亿元和 44.14 亿元，分别同比 下降 8.64%和 8.33%。 公司在手订单充足，2024Q2 利润环比稳步提升： 收入方面，2024H1 公司实现营收 172.41 亿元，同比下降 8.64%。其 中，化学业务、测试业务、生物学业务、高端治疗 CTDMO 业务分别实 现营收 122.10 亿元（-9.34%）、30.18 亿元（-2.35%）、11.69 亿元（- 5.17%）、5.75 亿元（-19.43%）。根据公司公告，预计 2024 年公司收 入达 383-405 亿元，剔除特定商业化项目后保持 2.7%-8.6%正增长。 利润方面，2024H1 公司实现归母净利润 42.40 亿元，其中 2024Q2 实 现归母净利润 22.98 亿元，环比增长 18.3 ...

Financial Performance - The company reported a revenue of RMB 17,240.9 million for the six months ended June 30, 2024, representing a decrease of 8.6% compared to RMB 18,871.3 million in the same period of 2023[2]. - Gross profit for the same period was RMB 6,700.9 million, down 11.3% from RMB 7,555.7 million, resulting in a gross margin of 38.9%[2]. - Net profit attributable to shareholders was RMB 4,239.8 million, a decline of 20.2% from RMB 5,313.1 million, with a net profit margin of 24.6%[2]. - Operating profit decreased to RMB 5,066,848 thousand, a decline of 22.83% from RMB 6,565,058 thousand in the previous year[87]. - The net profit for the period was RMB 4,280,846 thousand, down 20.06% from RMB 5,356,896 thousand in 2023[87]. - Adjusted EBITDA for the six months ended June 30, 2024, was RMB 6,734.9 million, a decrease from RMB 7,458.1 million for the same period in 2023, reflecting a margin of 39.1% compared to 39.5%[25]. - The company reported a pre-tax profit of RMB 5,049.6 million for the six months ended June 30, 2024, down from RMB 6,395.2 million in the same period of 2023[25]. - The total comprehensive income for the period was RMB 4,295,580 thousand, a decrease from RMB 4,843,228 thousand in 2023[88]. Revenue Breakdown - Revenue from the top 20 global pharmaceutical companies amounted to RMB 6,590 million, with an 11.9% increase when excluding COVID-19 commercialization projects[5]. - The WuXi Chemistry segment generated revenue of RMB 12,209.9 million, a decrease of 9.3% from RMB 13,467.2 million[6]. - The WuXi Testing segment reported revenue of RMB 3,018.4 million, down 2.4% from RMB 3,091.0 million[6]. - The WuXi Biology segment generated revenue of RMB 1,168.9 million, a decrease of 5.2% from RMB 1,232.6 million[6]. - Revenue from the high-end CTDMO business was RMB 570 million, which fell short of expectations due to early-stage commercialization, project delays, and insufficient new orders[10]. - Revenue from WuXi Testing was RMB 3,018,356 thousand, slightly down from RMB 3,091,000 thousand, a decrease of 2.36%[101]. - Revenue from WuXi Biology was RMB 1,168,910 thousand, down from RMB 1,232,635 thousand, reflecting a decline of 5.19%[101]. - Revenue from the United States was RMB 10,711,857 thousand, down from RMB 12,355,501 thousand, indicating a decline of 13.29%[98]. Customer Base and Market Position - The company maintained a customer base of over 6,000 and added more than 500 new clients, with total orders on hand reaching RMB 43.1 billion, a year-on-year increase of 33.2% excluding COVID-19 commercialization projects[5]. - The company has a large, loyal, and expanding customer base, covering all of the top 20 global pharmaceutical companies, with a steady increase in both new and existing customers[44]. - The company is actively involved in the development of new technologies, including PROTAC (targeted protein degradation technology)[125]. Financial Health and Liabilities - Total liabilities as of June 30, 2024, were RMB 19,302.6 million, an increase from RMB 18,151.9 million as of December 31, 2023[19]. - The company’s asset-liability ratio increased to 25.9% as of June 30, 2024, compared to 24.6% as of December 31, 2023, due to increased bank borrowings[22]. - The company reported a significant increase in inventory, rising to RMB 3,291,610 thousand from RMB 2,886,094 thousand, which is an increase of about 14.06%[89]. - The company's equity attributable to shareholders decreased to RMB 54,713,937 thousand from RMB 55,122,454 thousand, a decline of approximately 0.74%[90]. - The company’s total liabilities related to derivative financial instruments amounted to RMB 659,741 thousand as of June 30, 2024, compared to RMB 501,871 thousand as of December 31, 2023, indicating an increase of approximately 31.39%[117]. Investments and Acquisitions - The fair value of the company's investment in Genesis Medtech Group Limited is RMB 1,642.5 million, accounting for 2.2% of total assets[33]. - The total investment in joint ventures and associates during the reporting period amounted to RMB 12.2 million, aimed at enhancing synergies and expanding the customer base[30]. - The company has established a joint venture to promote the development of the healthcare ecosystem, focusing on strategic long-term investments and cutting-edge technologies[30]. - The company is expanding its market presence through strategic partnerships and acquisitions in the pharmaceutical sector[126]. Operational Developments - The company is preparing for BLA submissions for a commercial CAR-T product, expected to be filed with the FDA in the second half of 2024[10]. - The company has enhanced its service capabilities in areas such as flow chemistry, enzyme catalysis, and crystallization, expanding its formulation platform from oral to sterile injectable formulations[40]. - The total volume of peptide solid-phase synthesis reactors will increase to 32,000L by January 2024, with a new R&D and production base in Singapore commencing construction in May 2024[42]. - The company aims to strengthen its ability to provide integrated, end-to-end drug development and production services in response to the increasing demand for high-quality capabilities in the pharmaceutical and life sciences sectors[43]. Risk Factors - The company faces risks from a potential decline in demand for pharmaceutical research services, which could negatively impact business if industry trends slow down or outsourcing ratios decrease[63]. - Regulatory changes in the pharmaceutical research services industry pose a risk, as the company must adapt its strategies to comply with evolving policies and regulations[64]. - Increased competition in the global pharmaceutical research services market is a concern, with the company needing to strengthen its research and commercial advantages to maintain its competitive edge[66]. - The company faces risks related to the loss of core technical personnel, which is crucial for maintaining its competitive edge and operational stability[70]. Corporate Governance and Compliance - The board confirmed compliance with corporate governance codes, although there was a deviation regarding the separation of the roles of Chairman and CEO[81]. - The company emphasizes compliance and has established a robust internal control system, but faces risks if oversight of its subsidiaries is insufficient, potentially affecting necessary qualifications and approvals[67]. - The company is actively communicating with U.S. legislative parties to clarify facts and advocate for amendments to the proposed "Biological Safety Act" which has undergone revisions[69]. Employee and Talent Management - As of June 30, 2024, the group employed 38,134 employees, with compensation including base salary, allowances, bonuses, stock options, and other benefits[75]. - The company plans to attract, train, and retain top talent through a results-oriented performance evaluation system, providing competitive compensation and clear promotion opportunities[60]. Shareholder Returns and Dividends - The company did not declare any interim dividend for the six months ended June 30, 2024[2]. - The 2023 profit distribution plan was approved, with a cash dividend of RMB 9.8974 per 10 shares to shareholders listed on June 25, 2024[49]. - The total dividend declared for 2023 was RMB 2,882,050,829.90, an increase from RMB 2,649,083,545.14 in 2022, reflecting a growth of 8.8%[109].

证券代码：603259 证券简称：药明康德 公告编号：临 2024-055 无锡药明康德新药开发股份有限公司 2024 年度提质增效重回报行动方案 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、准确性和完整性承担法律责任。 无锡药明康德新药开发股份有限公司（以下简称"公司"或"药明康德"） 为践行"以投资者为本"的发展理念，提升上市公司经营质量、规范治理运作水 平，促进上市公司长期可持续发展、增强投资者回报，维护公司全体股东利益， 公司结合自身发展愿景与战略、经营情况及财务状况，制定了 2024 年度提质增 效重回报行动方案。本行动方案具体举措如下： 一、 聚焦主营业务，保持公司持续盈利能力 公司为全球医药及生命科学行业提供一体化、端到端的新药研发和生产服务， 在亚洲、欧洲、北美等地均设有运营基地。药明康德通过独特的"CRDMO"和 "CTDMO"业务模式，不断降低研发门槛，助力客户提升研发效率，为患者带 来更多突破性的治疗方案，服务范围涵盖化学药研发和生产、生物学研究、临床 前测试和临床试验研发、精准医疗研发、测试和生产等领域。目前，公司的赋能 平台正 ...

证券代码：603259 证券简称：药明康德 公告编号：临 2024-054 无锡药明康德新药开发股份有限公司 关于公司 2019 年限制性股票与股票期权激励计划项下 部分股票期权注销的公告 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、准确性和完整性承担法律责任。 7、2021 年 4 月 28 日，公司召开第二届董事会第十五次会议和第二届监事 会第十四次会议，分别审议通过了《关于公司 2019 年限制性股票与股票期权激 励计划项下部分股票期权注销的议案》，同意注销 296,394 份首次授予股票期权。 8、2021 年 6 月 8 日，公司实施了 2020 年度利润分配方案，根据公司《2019 年激励计划》的相关规定和经公司第二届董事会第十六次会议和第二届监事会第 十五次会议审议通过的《关于调整公司 2019 年限制性股票与股票期权激励计划 2 无锡药明康德新药开发股份有限公司（以下简称"本公司"或"公司"）于 2024 年 7 月 29 日召开第三届董事会第十二次会议和第三届监事会第九次会议， 分别审议通过了《关于公司 2019 年限制性股票与股票期权 ...