北京市嘉源律师事务所 关于杭州泰格医药科技股份有限公司 2024 年度股东会、 2025 年第一次 A 股类别股东会议及 2025 年第一次 H 股类别股东会议的法律意见书 西城区复兴门内大街 158 号远洋大厦 4 楼 中国 · 北京 EUM E 3 F7 YUAN LAW OFFICES 北京 BEIJING·上海 SHANGHAI·深圳 SHENZHEN·香港 HONG KONG·广州 GUANGZHOU·西安 XI'AN 致:杭州泰格医药科技股份有限公司 北京市嘉源律师事务所 关于杭州泰格医药科技股份有限公司 2024 年度股东会、2025年第一次 A 股类别股东会议及 2025 年第一次 H 股类别股东会议的法律意见书 嘉源(2025)-04-390 受杭州泰格医药科技股份有限公司(以下简称"公司")委托,北京市嘉源 律师事务所(以下简称"本所")指派律师出席公司 2024年度股东会、2025年 第一次 A 股类别股东会议及 2025 年第一次 H 股类别股东会议(以下简称"本次 股东会"),并依据《中华人民共和国公司法》(以下简称"《公司法》")、 《上市公司股东会规则》(以下简称"《股东会规则》 ...

证券代码：300347 证券简称：泰格医药 公告编码（2025）028 号 杭州泰格医药科技股份有限公司 2024 年度股东会、2025 年第一次 A 股类别股东会议及 2025 年第一 次 H 股类别股东会议决议的公告 公司及董事会全体成员保证公告内容的真实、准确和完整，对公告的虚假记载、误导性陈述或者 重大遗漏负连带责任。 一、会议召开情况 3、会议方式：本次股东会采取现场投票和网络投票相结合的方式 4、召集人：杭州泰格医药科技股份有限公司董事会 5、现场会议主持人：公司董事长叶小平先生 6、本次股东会会议的召集、召开与表决程序符合《公司法》、《上市公司股东会规则》、 《深圳证券交易所创业板股票上市规则》等法律、法规、规范性文件及《公司章程》的规 定。 1 二、会议出席情况 1、会议召开时间 现场会议召开时间为：2025年5月30日（星期五）上午10：00 网络投票时间：2025年5月30日 其中，通过深圳证券交易所交易系统进行网络投票的具体时间为2025年5月30日上午9： 15—9：25，9：30—11：30和下午13：00—15：00；通过深圳证券交易所互联网投票系统进 行网络投票的具体时间为202 ...

本 公 告 乃 杭 州 泰 格 醫 藥 科 技 股 份 有 限 公 司（「本公司」）根 據 香 港 聯 合 交 易 所有限公司證券上市規則第13.10B條 而 作 出。 茲 載 列 本 公 司 於 深 圳 證 券 交 易 所 網 站 刊 登 公 告 如 下，僅 供 參 閱。 承董事會命 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 不對因本公告全部或任何部分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。 HANGZHOU TIGERMED CONSULTING CO., LTD. 杭州泰格醫藥科技股份有限公司 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：3347） 海外監管公告 杭州泰格醫藥科技股份有限公司 董事長 葉小平 香 港，2025年5月29日 於 本 公 告 日 期，執 行 董 事 為 葉 小 平 博 士、曹 曉 春 女 士、吳 灝 先 生 及 聞 增 玉 先 生；獨 立 非 執 行 董 事 ...

泰格医药（300347）公告，本次注销的回购股份数量为392.25万股，占注销前公司总股本的0.45%。本 次实际回购注销金额为2亿元。注销完成后，公司总股本将由8.65亿股变更为8.61亿股。公司本次回购股 份注销事宜已于2025年5月29日办理完成。本次注销部分回购股份事项不会对公司的财务状况和经营成 果产生实质性影响，不存在损害公司利益及中小投资者利益的情形。 ...

证券代码：300347 证券简称：泰格医药 公告编码（2025）027 号 杭州泰格医药科技股份有限公司 关于部分回购股份注销完成暨股份变动的公告 公司及董事会全体成员保证公告内容的真实、准确和完整，对公告的虚假记载、误导性陈述 或者重大遗漏负连带责任。 特别提示： 1、本次注销的回购股份数量为 3,922,520 股，占注销前公司总股本的 0.45%。本 次实际回购注销金额为 200,046,593.34 元。本次注销完成后，公司总股本将由 864,948,570 股变更为 861,026,050 股。 2、经中国证券登记结算有限责任公司深圳分公司审核确认，公司本次回购股份注 销事宜已于 2025 年 5 月 29 日办理完成。 根据《深圳证券交易所上市公司自律监管指引第 9 号——回购股份》等相关法律 法规规定，现就本次杭州泰格医药科技股份有限公司（以下简称"公司"）部分回购股份 注销完成的具体情况公告如下： 一、回购股份的基本情况 公司分别于2024年2月6日、2024年4月12日及2024年4月30日召开的第五届董事会 第四次会议、第五届董事会第七次会议、2024年第二次临时股东大会、2024年第一次 ...

Group 1 - The Hong Kong biopharmaceutical sector experienced a collective rise, with WuXi Biologics (02269.HK) and Junshi Biosciences (01877.HK) leading the gains, both increasing over 9% [1] - Other companies such as WuXi AppTec (02359.HK), Kanglong Chemical (300759.HK), Kelun Pharmaceutical (06821.HK), and Tigermed (03347.HK) also saw increases of 4%-5% [1] Group 2 - A significant ruling by the U.S. International Trade Court on May 28 declared the "day of liberation" tariff policy from the Trump administration unconstitutional, reducing policy uncertainty for Chinese pharmaceutical companies looking to expand overseas [3] - The ruling emphasized that the U.S. Constitution grants Congress exclusive power to regulate trade, limiting presidential authority in economic security matters [3] Group 3 - The first quarter of 2025 saw a surge in License-out transactions, totaling 41 deals worth approximately $36.93 billion, nearing the total for the entire year of 2023 [3] - Notable transactions included 3SBio's $12.5 billion upfront payment plus up to $4.8 billion in milestone payments to Pfizer for a PD-1/VEGF dual antibody drug [3] Group 4 - The upcoming ASCO annual meeting in Chicago is expected to showcase the international competitiveness of Chinese innovative drugs, with 71 studies from Chinese companies selected for oral presentations [4] - Key clinical data will be released by several prominent companies, including Innovent Biologics and China Biologic Products, which may reshape treatment standards for non-small cell lung cancer [4][5] Group 5 - The progress of ADC drugs developed by partners of WuXi Biologics and collaborations between Kelun Pharmaceutical and Merck is also attracting attention [5] - The increasing quantity and quality of results presented by Chinese pharmaceutical companies at top academic platforms like ASCO indicate a recognized research and development capability in oncology [5]

Market Performance - The Hong Kong stock market indices experienced a collective rebound, with the Hang Seng Index rising by 1.35%, the Hang Seng China Enterprises Index increasing by 1.37%, and the Hang Seng Tech Index gaining 2.46% [1] Sector Performance - The pharmaceutical outsourcing and biotech sectors saw significant gains, with notable increases in stocks such as Zhaoyan New Drug (+14.83%), WuXi Biologics (+10.04%), and Tigermed (+9.95%) [1] - The stablecoin sector surged, highlighted by Lianlian Digital's increase of 44.86% and ZhongAn Online's rise of 31.56% following supportive comments from U.S. Vice President Kamala Harris regarding stablecoins [1] Active Stocks - Short video and tech stocks were active, with Kuaishou-W rising by 4.94% and JD Group-SW increasing by 4.19% [2] - Education stocks also saw upward movement, with China Education Group rising by 8.7% and New Oriental-S increasing by 4.32% [2] - Consumer stocks, including Meituan-W (+6.62%) and Anta Sports (+4.18%), performed well, driven by strong sales reports [2] Declining Stocks - The infant products and dairy sectors faced declines, with H&H International Holdings dropping by 2.14% and Ausnutria falling by 2% [3] - Nuclear power stocks continued to adjust, with China National Nuclear Power falling by 5.32% [3] - Coal stocks also weakened, with Mongolian Energy decreasing by 3.85% amid falling coal prices, which reached a five-year low [3] Underperforming Sectors - Sectors such as aviation, film, and food showed poor performance, alongside declines in electric power and gold stocks [4]

Core Insights - The CXO sector has shown significant improvement in Q1 2025, marking a recovery from the previous year's downturn [1] - WuXi AppTec (药明康德) reported a remarkable revenue increase of 21.0% year-on-year to 9.65 billion yuan, with net profit soaring by 89.1% to 3.67 billion yuan [1] - The order volume for CXO companies has rebounded, with WuXi AppTec's total orders reaching 52.33 billion yuan, up 47.1% year-on-year [1] Company Performance - WuXi AppTec's Q1 revenue and net profit growth highlights its strong market position and operational efficiency [1] - Kanglong Chemical (康龙化成) also performed well, with a revenue increase of 16.03% to 3.099 billion yuan and a net profit growth of 32.54% to 306 million yuan [1] - In contrast, Tigermed (泰格医药) faced a decline in revenue by 10.58% to 6.603 billion yuan and a significant drop in net profit by 42.13% to 855 million yuan in 2024 [2][3] Challenges Faced by Tigermed - Tigermed's clinical trial services segment saw a revenue decline of 23.75% to 3.178 billion yuan, primarily due to funding issues faced by clients [2] - The company experienced a drastic drop in gross margin, with Q4 gross margin plummeting to 17.7% [2] - Non-operating losses turned negative at -476 million yuan in 2024, reflecting the impact of a downturn in the biopharmaceutical investment environment [2] Regional Performance - Tigermed's domestic revenue fell by 17.11%, significantly outpacing the 3.29% decline in international markets [3] - Despite a slight revenue recovery in Q1 2025, the overall growth trend remains weak due to increased competition [3][5] Strategic Adjustments - Tigermed is attempting to streamline operations by cutting unprofitable business lines and focusing on core services, but these adjustments are seen as insufficient [3][4] - The company is exploring AI integration to enhance efficiency, but current efforts have not yet yielded significant improvements in profitability [3][7] Industry Trends - Leading CXO firms like WuXi AppTec and Kelaiying (凯莱英) are establishing competitive advantages through high-end service offerings and technological integration [6][8] - WuXi AppTec's TIDES business saw a staggering revenue increase of 187.6% to 2.24 billion yuan in Q1 2025 [6] - The overall pricing environment in the CXO industry has been under pressure, with service prices dropping to about 70% of 2022 levels [8] Market Outlook - The industry is experiencing a structural shift, with top firms leveraging high-value services and global expansion to maintain competitiveness [8] - Current market valuations have adjusted to a PE range of 10-20 times, reflecting a recalibration of profit growth expectations [8]

Core Viewpoint - The Hong Kong pharmaceutical outsourcing sector is experiencing a strong performance, with notable increases in stock prices for several key companies [1] Company Performance - WuXi Biologics (02269.HK) has seen a stock price increase of 4.70% [1] - Kelun Pharmaceutical (06821.HK) has risen by 4.62% [1] - Tigermed (03347.HK) has gained 1.89% [1] - WuXi AppTec (02359.HK) has increased by 1.36% [1]

Group 1 - The core viewpoint of the news is the performance and holdings of the China Europe Medical Health Mixed Fund C, which has shown a recent net value increase and varying returns over different time frames [1] - As of May 27, 2025, the fund's latest net value is 1.5582 yuan, reflecting a growth of 0.85% [1] - The fund's one-month return is 3.03%, ranking 1106 out of 4652 in its category, while its six-month return is 0.23%, ranking 3299 out of 4496 [1] - Year-to-date, the fund has achieved a return of 2.43%, ranking 2140 out of 4544 [1] Group 2 - The top ten stock holdings of the fund account for a total of 55.30%, with significant positions in companies such as Heng Rui Pharmaceutical (10.60%), WuXi AppTec (9.95%), and Kanglong Chemical (6.24%) [1] - The fund was established on September 29, 2016, and as of March 31, 2025, it has a total scale of 15.566 billion yuan [1] - The fund manager, Ge Lan, has a background in biomedical engineering and has held various positions in research and fund management since joining China Europe Fund Management in 2014 [2]