证券代码：300347 证券简称：泰格医药 公告编码（2025）041 号 一、审议并通过《关于公司2025年第三季度报告的议案》。 公司《2025年第三季度报告》真实、准确、完整地反映了公司2025年第三季度的财务 状况和经营成果，不存在虚假记载、误导性陈述和重大遗漏。 公司审计委员会审议通过本议案，并同意提交董事会审议。 报告详见中国证监会指定的创业板信息披露网站同日披露的相关公告。 表决结果：同意7票，反对0票，弃权0票。 杭州泰格医药科技股份有限公司 第五届董事会第十九次会议决议公告 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。 杭州泰格医药科技股份有限公司（以下简称"公司"）第五届董事会第十九次会议于2025 年10月28日在杭州市滨江区聚工路19号盛大科技园A座19层会议室举行，本次会议以现场 与通讯表决相结合的方式召开。会议通知已于2025年10月14日以电话、电子邮件方式向全 体董事发出。会议应到董事7人，实到董事7人。本次会议由公司董事长叶小平先生主持。 本次会议的召开及程序符合有关法律、法规和公司章程的要求，会议合法有效。 经与 ...

Core Points - The company, Tigermed (03347.HK), reported a revenue of 5.026 billion RMB for the first three quarters of 2025, representing a year-on-year decrease of 0.82% [1] - The net profit attributable to shareholders increased by 25.45% year-on-year, amounting to 1.020 billion RMB [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 326 million RMB, showing a significant year-on-year decrease of 63.46% [1] - The basic earnings per share stood at 1.19 RMB [1]

Financial Performance - The company's revenue for Q3 2025 reached ¥1,775,423,981.12, representing a year-on-year increase of 3.86%[5] - Net profit attributable to shareholders increased by 98.73% to ¥637,097,023.97, while the net profit after deducting non-recurring gains and losses decreased by 54.25% to ¥115,190,184.44[5] - The basic and diluted earnings per share both stood at ¥0.74, marking a 100% increase compared to the same period last year[5] - Total operating revenue for the period was CNY 5,025,868,260.75, a slight decrease from CNY 5,067,615,359.89 in the previous period, representing a decline of approximately 0.83%[19] - The company's net profit for the current period reached ¥1,091,681,166.46, an increase of 21% compared to ¥903,135,476.96 in the previous period[20] - The total comprehensive income for the current period was ¥1,101,327,590.25, up from ¥852,425,592.60, reflecting a growth of approximately 29%[20] - Operating profit increased to ¥1,229,009,491.51, compared to ¥1,084,995,900.89 in the previous period, marking a rise of about 13%[20] - The basic earnings per share rose to ¥1.19, up from ¥0.94, representing a growth of approximately 27%[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥28,784,251,786.89, reflecting a slight increase of 0.39% from the previous year[5] - Total liabilities decreased to CNY 4,076,658,483.57 from CNY 4,606,536,600.57, a reduction of about 11.48%[17] - The company's equity attributable to shareholders increased to CNY 21,176,338,660.50 from CNY 20,670,653,449.72, representing an increase of approximately 2.45%[18] - The company's cash and cash equivalents decreased to CNY 1,648,149,745.63 from CNY 2,055,344,830.04, a decline of about 19.74%[16] - The company reported a decrease in total cash and cash equivalents to ¥1,599,905,403.56 from ¥1,961,886,856.08, reflecting a decline of about 18%[23] Cash Flow - The cash flow from operating activities for the year-to-date reached ¥739,557,629.57, an increase of 27.78%[5] - Cash flow from operating activities generated a net amount of ¥739,557,629.57, compared to ¥578,769,609.95 in the previous period, indicating an increase of approximately 28%[22] - The company received cash from operating activities totaling ¥5,414,289,272.77, compared to ¥4,993,719,526.64 in the previous period, an increase of approximately 8%[22] - Cash flow from investment activities yielded a net inflow of ¥493,706,798.02, a significant recovery from a net outflow of ¥5,723,116,899.53 in the previous period[23] Investments and Expenses - The company reported a significant increase in investment income, which rose by 303.29% to ¥440,220,795.12, primarily due to increased returns from joint ventures[9] - Total operating costs increased to CNY 4,559,527,495.20 from CNY 4,026,550,519.06, marking an increase of about 13.23%[19] - Research and development expenses rose to CNY 191,239,953.92 from CNY 172,098,760.28, an increase of about 11.14%[19] - The company experienced a 142.77% rise in financial expenses, totaling ¥76,159,524.04, attributed to decreased interest income and increased exchange losses[9] Shareholder Information - The total number of common shareholders at the end of the reporting period is 48,448[11] - The largest shareholder, Ye Xiaoping, holds 177,239,541 shares, representing 20.58% of total shares[11] - The second-largest shareholder, HKSCC Nominees Limited, holds 123,119,129 shares, accounting for 14.30% of total shares[11] - The total number of restricted shares held by major shareholders is 171,687,044, with no shares released during the period[14] - The top 10 shareholders hold a combined total of 123,119,129 unrestricted shares[12] - The company has a high level of shareholding concentration, with the top three shareholders holding over 30% of total shares[11] - The company has no shareholders participating in margin financing or securities lending activities[12] - The company has not reported any changes in the number of shares lent or returned due to margin financing[12] - The company’s major shareholders, Ye Xiaoping and Cao Xiaochun, are acting in concert as they have signed a cooperation agreement[12] Other Financial Metrics - The company's contract liabilities increased by 39.54% to ¥1,103,392,114.97, indicating a rise in advance payments received from new orders[8] - The company's other receivables surged by 111.21% to ¥188,040,915.78, mainly due to pending payments from the sale of financial assets[8] - The company's inventory balance increased to CNY 43,942,939.85 from CNY 31,956,085.52, reflecting a growth of approximately 37.47%[16] - The company's contract assets rose to CNY 2,779,362,851.14 from CNY 2,504,689,617.50, an increase of about 10.93%[16] - The company disposed of long-term assets, resulting in an asset disposal gain of ¥5,223,121.86, a 95.26% increase year-on-year[9] - The company’s other comprehensive income after tax was ¥9,646,423.79, a recovery from a loss of ¥50,709,884.36 in the previous period[20]

Financial Performance - The company's revenue for Q3 2025 reached ¥1,775,423,981.12, representing a year-on-year increase of 3.86%[11] - Net profit attributable to shareholders for the same period was ¥637,097,023.97, a significant increase of 98.73% compared to the previous year[11] - The basic earnings per share for Q3 2025 was ¥0.74, marking a 100% increase year-on-year[11] - Total operating revenue for the current period was CNY 5,025,868,260.75, a slight decrease of 0.83% compared to CNY 5,067,615,359.89 in the previous period[42] - Net profit for the current period reached CNY 1,091,681,166.46, representing a 20.92% increase from CNY 903,135,476.96 in the previous period[43] - Total comprehensive income for the period reached CNY 1,101,327,590.25, an increase from CNY 852,425,592.60 in the previous period, representing a growth of approximately 29.2%[44] - Basic and diluted earnings per share increased to CNY 1.19, up from CNY 0.94, reflecting a growth of 26.6%[44] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥28,784,251,786.89, reflecting a slight increase of 0.39% from the previous year[13] - The equity attributable to shareholders at the end of the reporting period was ¥21,176,338,660.50, an increase of 2.45% from the previous year[13] - The company's total liabilities decreased to CNY 4,076,658,483.57 from CNY 4,606,536,600.57, a reduction of 11.48%[40] - Non-current liabilities totaled CNY 1,138,805,470.53, an increase of 20.56% from CNY 944,684,135.45[40] - The company's total equity increased to CNY 24,707,593,303.32, up from CNY 24,064,479,186.59, reflecting a growth of 2.67%[40] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥739,557,629.57, which is an increase of 27.78% compared to the same period last year[11] - Cash flow from operating activities generated a net amount of CNY 739,557,629.57, compared to CNY 578,769,609.95 in the previous period, indicating an increase of 27.8%[47] - Cash inflow from investment activities totaled CNY 1,962,639,120.81, significantly higher than CNY 667,411,884.05 in the prior period, marking a growth of 194.1%[48] - Net cash flow from financing activities was negative at CNY -1,684,788,363.95, worsening from CNY -272,001,685.95 in the previous period[48] Investments and Income - Investment income grew by 303.29% to ¥440,220,795.12 driven by higher returns from joint ventures and subsidiaries[21] - The company reported an investment income of CNY 440,220,795.12, significantly higher than CNY 109,158,171.38 in the previous period[42] - The company reported a fair value change income of ¥323,191,353.26, a significant recovery from a loss of ¥34,411,947.15 in the previous year[21] - Cash received from investment income was CNY 165,736,772.10, up from CNY 33,510,950.69, reflecting a growth of 394.5%[48] Receivables and Payables - Accounts receivable increased by 61.04% to ¥9,679,509.20 due to the receipt of bank acceptance bills from customers during the reporting period[19] - Prepayments rose by 39.48% to ¥142,175,462.53 primarily due to increased advance payments to suppliers[19] - Other receivables surged by 111.21% to ¥188,040,915.78 mainly from the sale of financial assets not yet collected[19] - The total amount of accounts receivable increased from CNY 1,359,758,181.20 to CNY 1,427,166,648.66, reflecting a growth of approximately 4.9%[37] Expenses - Total operating costs increased to CNY 4,559,527,495.20, up 13.23% from CNY 4,026,550,519.06 in the previous period[42] - Research and development expenses rose to CNY 191,239,953.92, an increase of 11.56% compared to CNY 172,098,760.28[42] - Financial expenses increased by 142.77% to ¥76,159,524.04 due to reduced interest income and increased foreign exchange losses[21] Shareholder Information - The number of shares held by the top ten unrestricted shareholders includes HKSCC NOMINEES LIMITED with 123,119,129 shares, representing a significant portion of the total[30] - The company has a total of 171,687,044 restricted shares, which are subject to annual release conditions[34]

Core Points - E Fund Management Co., Ltd. reduced its stake in Tiger Medical (03347) by 429,800 shares at a price of approximately HKD 42.78 per share, totaling around HKD 18.3864 million [1] - After the reduction, E Fund's remaining shareholding is 9.4681 million shares, representing a holding percentage of 7.69% [1]

Group 1 - E Fund Management Co., Ltd. reduced its stake in Tiger Medical (300347) by 42,980 shares at a price of HKD 42.779 per share, totaling approximately HKD 18.3864 million [1] - After the reduction, E Fund's latest holding is 9.4681 million shares, representing a holding percentage of 7.69% [1]

Core Viewpoint - Tiger Med's stock has experienced a decline in recent trading sessions, reflecting challenges in revenue and profit margins, alongside notable changes in shareholder composition and market activity [1][2][3] Company Overview - Tiger Med, established on December 15, 2004, and listed on August 17, 2012, is based in Hangzhou, Zhejiang Province, and specializes in providing professional clinical research services for pharmaceutical and health-related products [1] - The company's main business segments include clinical trial services, data management, regulatory submissions, and medical testing services, with clinical trial-related services accounting for 52.60% of revenue [1] Financial Performance - For the first half of 2025, Tiger Med reported revenue of 3.25 billion yuan, a year-on-year decrease of 3.21%, and a net profit attributable to shareholders of 383 million yuan, down 22.22% year-on-year [2] - The company's stock price has declined by 4.00% year-to-date, with a 4.29% drop over the last five trading days and a 13.40% decrease over the past 20 days [1] Shareholder Composition - As of June 30, 2025, the number of shareholders decreased by 4.14% to 51,500, with an average of 0 shares per shareholder [2] - The top shareholders include China Europe Medical Health Mixed Fund, which reduced its holdings by 3.32 million shares, and Hong Kong Central Clearing Limited, which increased its holdings by 439,610 shares [3] Market Activity - On October 23, Tiger Med's stock fell by 2.01%, trading at 52.15 yuan per share with a total market capitalization of 44.903 billion yuan [1] - The net outflow of main funds was 3.8256 million yuan, with significant selling pressure observed in large orders [1]

Core Viewpoint - On October 22, Tiger Med experienced a decline of 0.89% with a trading volume of 327 million yuan, indicating a negative net financing position for the day [1] Financing Summary - On October 22, Tiger Med had a financing buy-in amount of 30.85 million yuan and a financing repayment of 39.86 million yuan, resulting in a net financing outflow of 9.01 million yuan [1] - As of October 22, the total financing and securities lending balance for Tiger Med was 783 million yuan, with the financing balance accounting for 1.99% of the circulating market value, which is above the 60th percentile level over the past year [1] Securities Lending Summary - On October 22, Tiger Med repaid 12,500 shares in securities lending and sold 8,100 shares, amounting to 431,100 yuan based on the closing price [1] - The securities lending balance stood at 323,640 yuan with a remaining quantity of 60,800 shares, exceeding the 70th percentile level over the past year [1] Company Overview - Tiger Med, established on December 15, 2004, and listed on August 17, 2012, is located in Hangzhou, Zhejiang Province, and specializes in providing professional clinical research services for pharmaceutical and health-related products [2] - The company's main business revenue composition includes 52.60% from clinical trial-related services and laboratory services, and 45.21% from clinical trial technical services [2] Financial Performance - For the first half of 2025, Tiger Med reported a revenue of 3.25 billion yuan, a year-on-year decrease of 3.21%, and a net profit attributable to shareholders of 383 million yuan, down 22.22% year-on-year [2] Dividend Information - Since its A-share listing, Tiger Med has distributed a total of 2.458 billion yuan in dividends, with 1.154 billion yuan distributed over the past three years [3] Shareholder Information - As of June 30, 2025, Tiger Med had 51,500 shareholders, a decrease of 4.14% from the previous period [2] - The top circulating shareholders include China Europe Medical Health Mixed Fund, Hong Kong Central Clearing Limited, and Huabao CSI Medical ETF, with varying changes in their holdings [3]

Group 1 - The medical sector experienced volatility, with the largest medical ETF in A-shares (512170) dropping over 2% in the afternoon, with real-time transactions exceeding 490 million yuan [1] - The ETF's latest scale is 25.73 billion yuan, ranking first among similar ETFs [1] - Notable declines were observed in constituent stocks, with Sanbo Brain Science falling over 6%, and other companies like Yingke Medical and Nanwei Medical dropping more than 4% [1] Group 2 - Ping An Securities indicated that the bidding environment for medical devices will remain favorable in 2025, with strong demand for ultrasound, CT, and MRI equipment driven by policy incentives [3] - The pharmaceutical and biotechnology sectors are currently affected by policy disruptions, but the long-term industry trend remains unchanged, with Chinese innovative drug companies gaining global competitiveness [3] - The medical ETF (512170) passively tracks the CSI Medical Index, with its top ten weighted stocks including WuXi AppTec, Mindray Medical, and others [3]

Group 1 - The core point of the article is that E Fund Management Co., Ltd. has increased its stake in Tiger Med (03347.HK) by purchasing 573,100 shares at an average price of HKD 42.0922 per share, totaling approximately HKD 24.123 million [1] - After the purchase, E Fund's total shareholding in Tiger Med reached 10,360,100 shares, raising its ownership percentage from 7.95% to 8.41% [1][2]