证券代码：688366 证券简称：昊海生科 上海昊海生物科技股份有限公司 2024 年度股东周年大会、 2025 年第一次 A 股类别股东大会 及 2025 年第一次 H 股类别股东大会 会议资料 二〇二五年六月十日·上海 1 | 会议须知 . | | --- | | 会议议程 | | 关于公司董事会 2024 年度工作报告的议案 . | | 关于公司监事会 2024年度工作报告的议案 | | 关于公司 2024 年年度报告的议案 . | | 关于公司董事、监事 2025 年薪酬计划的议案 | | 关于聘请公司 2025 年度财务报告审计机构及内部控制审计机构的议案 20 | | 关于公司 2024 年度利润分配预案的议案 | | 关于提请股东大会授权董事会进行 2025 年中期分红的议案 23 | | 关于公司未来三年(2025年-2027年)股东分红回报规划的议案 . | | 关于修订《独立董事工作细则》的议案 | | 关于取消监事会并修订《公司章程》、《股东大会议事规则》及《董事会议事规则》 | | 的议案 | | 关于授予董事会回购 H 股的一般性授权的议案 31 | | 关于选举公司第六届董事会非独 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 上海昊海生物科技股份有限公司（於中華人民共和國註冊成立的股份有限公司） 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 第 2 頁 共 9 頁 v 1.3.0 | 第一章節 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 06826 | 說明 | H 股 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | | 已發行股份（不包括庫 ...

Core Viewpoint - The investigation of insider trading involving the controlling shareholder of Haohai Biological Technology has raised concerns about the company's future performance and governance, despite the company's efforts to distance itself from the allegations [1][2][3]. Company Overview - Haohai Biological Technology, founded in 2007 by Jiang Wei, has established a significant presence in the medical absorbable biomaterials sector, particularly in hyaluronic acid products [2][6]. - Jiang Wei and his wife, You Jie, are the largest shareholders, holding 28.53% and 17.29% of the shares, respectively, as of the latest quarterly report [3][4]. Financial Performance - In 2024, Haohai Biological reported revenues of 2.698 billion yuan, a slight increase of 1.64% year-on-year, with a net profit of 420 million yuan, up 1.04% [8][11]. - The medical aesthetics and wound care segment has become the largest revenue source, surpassing the ophthalmology segment, which has faced challenges due to centralized procurement policies [7][8]. Market Dynamics - The company's hyaluronic acid products have seen a significant decline in revenue growth, dropping from 95.54% in 2023 to 23.23% in 2024, indicating a shift in market dynamics and increased competition [8][11]. - The overall gross margin for the company decreased from 70.46% to 69.89%, reflecting pressures from price reductions in traditional product lines due to procurement policies [10][11]. Industry Context - The medical aesthetics industry is experiencing a downturn, with competitors like Langzi Co. and Huaxi Biological also reporting revenue declines, indicating a broader market challenge [12][13]. - The rise of alternative materials and negative press surrounding hyaluronic acid products have added to the operational challenges faced by companies in this sector [13].

Core Viewpoint - The company, Haohai Biological Technology, is facing scrutiny as its controlling shareholder, Jiang Wei, has been notified of an investigation by the China Securities Regulatory Commission (CSRC) for suspected insider trading, although the company asserts that this matter is unrelated to its operations [1][3]. Company Overview - Haohai Biological Technology is engaged in the research, production, and sales of medical devices and pharmaceuticals, focusing on four main areas: medical aesthetics and wound care products, ophthalmic products, orthopedic viscoelastic supplements, and anti-adhesion and hemostatic products [3]. Financial Performance - In 2024, the company reported revenues of approximately 2.698 billion yuan, a year-on-year increase of 1.64%, and a net profit attributable to shareholders of about 420 million yuan, up 1.04% [5]. - The company's overall gross margin decreased from 70.46% to 69.89% due to significant price reductions in certain products, which offset the growth in high-margin medical aesthetic products [5]. - The medical aesthetics and wound care segment contributed over 40% of the company's revenue, with a year-on-year increase of 13.08%, although this growth rate has slowed compared to the previous year's 41.27% [5][6]. Market Reaction - Following the announcement of the investigation, Haohai Biological Technology's stock opened down 4.31% on May 8, with a closing price of 52.26 yuan per share, reflecting a decline of 1.71% and a total market capitalization of 12.19 billion yuan [4]. - The company's stock has seen a cumulative decline of 71.76% from its peak in July 2021, and the current share price has fallen below its initial public offering price of 89.23 yuan [7]. Future Outlook - The company plans to continue utilizing its own funds to explore advancements in the medical aesthetics, ophthalmology, orthopedics, and surgical fields, seeking to enhance its product portfolio through technology introduction or investment partnerships [7].

Core Viewpoint - The company is facing significant challenges due to the investigation of its controlling shareholder for insider trading, alongside declining performance in key business segments and increasing competition in the industry [1][5][6]. Financial Performance - The company's overall revenue growth has slowed, with 2024 revenue at 2.698 billion (up 1.64% year-on-year) and net profit at 420 million (up 1.04% year-on-year) [2]. - In Q1 2025, revenue dropped to 619 million (down 4.25% year-on-year) and net profit to 90 million (down 7.41% year-on-year) [2]. - R&D expenses decreased significantly by 25.4%, while sales and management expense ratios increased by 0.54 and 1.52 percentage points, respectively [2]. Business Segmentation - The medical aesthetics segment showed weak growth, with 2024 revenue at 1.2 billion (44.38% of total), and hyaluronic acid product revenue at 742 million (up 23.23% year-on-year), but a sharp decline from 95.45% growth in 2023 [3]. - The ophthalmology segment reported revenue of 858 million (down 7.60% year-on-year), with intraocular lens revenue at 328 million (down 14.06% year-on-year), primarily impacted by a 60% price drop from the fourth national procurement [3]. - The orthopedics segment generated revenue of 457 million (down 4.11% year-on-year), with profits affected by price declines from provincial procurement for sodium hyaluronate injections [4]. Dividend and Market Concerns - The company's high dividend payouts have raised market concerns, with the controlling shareholder couple receiving approximately 344 million in cash dividends from 2019 to 2024, and the 2024 dividend accounting for 54.92% of net profit [4]. Industry Risks - The investigation into the controlling shareholder poses risks, including potential stock freezes or selling restrictions, which could undermine market confidence and highlight governance issues due to concentrated ownership [5][6]. - The company faces intense competition in the medical aesthetics sector, with rivals like Huaxi Biological and Aimeike, and pressure from new technologies impacting traditional markets [6]. - The normalization of centralized procurement is leading to a downward price trend for ophthalmology and orthopedics products, necessitating faster innovation to maintain profit margins [7]. Cash Flow and Asset Quality - Concerns regarding cash flow and asset quality are evident, with accounts receivable at 316 million (75.18% of net profit) and a low inventory turnover rate of 0.39 times [8]. - In Q1 2025, operating cash flow was 86 million, while cash outflow from investment activities was 179 million [8].

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 上海昊海生物科技股份有限公司（於中華人民共和國註冊成立的股份有限公司） 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 H | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 06826 | H 股 說明 | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的現有已發 ...

Core Viewpoint - The recent investigation of Jiang Wei, a major shareholder of Haohai Biological Technology, by the China Securities Regulatory Commission for suspected insider trading is not expected to significantly impact the company's operations or stock performance [1][2]. Company Overview - Haohai Biological Technology is recognized for its "medical aesthetics + ophthalmology" business model, with a focus on high-margin products such as artificial lenses and medical-grade hyaluronic acid [2][3]. - The company is the first biopharmaceutical firm listed on both the Hong Kong Stock Exchange and the Shanghai Stock Exchange's Sci-Tech Innovation Board [2]. Financial Performance - Revenue has shown consistent growth from 1.3 billion yuan in 2020 to 2.6 billion yuan in 2024, while net profit increased from 200 million yuan to 400 million yuan during the same period, despite a significant drop in 2022 [2][3]. - In 2024, the company reported revenue of 2.698 billion yuan, a year-on-year increase of 1.64%, and a net profit of 420 million yuan, up 1.04% [3]. Market Challenges - The medical aesthetics and ophthalmology sectors are facing increased competition and price reductions due to national procurement policies, leading to stagnation in revenue growth for 2024 [3]. - The medical aesthetics segment has shown signs of growth fatigue, with revenues from medical beauty and wound care products increasing from 460 million yuan in 2021 to 1.2 billion yuan in 2024, but growth rates are declining [3]. Product Development - In July 2024, Haohai Biological Technology received approval for its fourth-generation hyaluronic acid product, Hai Mei Yue Bai, aimed at treating moderate to severe nasolabial folds, positioning it as a potential growth driver in the high-end medical aesthetics market [4]. - The product is priced at 13,800 yuan for 1ml and 19,800 yuan for 2ml, indicating a premium positioning [4]. Recent Performance - In the first quarter of 2024, the company experienced a decline in both revenue and net profit, with revenue at 619 million yuan, down 4.25%, and net profit at approximately 90.31 million yuan, down 7.41% [4].

Core Viewpoint - The company, Haohai Biological Technology (688366.SH), is facing scrutiny as its controlling shareholder, Jiang Wei, has been notified of an investigation by the China Securities Regulatory Commission for suspected insider trading, which has raised concerns among investors [1][3]. Company Overview - Haohai Biological Technology is a well-known producer of hyaluronic acid in China, with its founders Jiang Wei and You Jie being the controlling shareholders [1]. - The company has been listed on both the Hong Kong Stock Exchange and the Shanghai Stock Exchange, making it the first biopharmaceutical company to achieve dual listing on the "H+ Sci-Tech Innovation Board" [1]. Financial Performance - In 2024, Haohai Biological Technology reported total revenue of 2.698 billion yuan, a year-on-year increase of 1.64%, while the net profit attributable to shareholders decreased by 1.12% to 379 million yuan [2]. - The overall gross margin slightly declined from 70.46% to 69.89% in 2024, attributed to a significant drop in sales prices of certain products due to new rounds of national or provincial procurement [2]. - The company's revenue from the ophthalmology sector saw a notable decline, with the cataract product line generating 420.73 million yuan, down 15.33% year-on-year [2]. Market Reaction - Following the announcement of Jiang Wei's investigation, Haohai Biological Technology's stock experienced a decline of 4.81% in early trading on May 8, closing down 0.70% at 52.80 yuan, with trading volume significantly increasing compared to the previous day [3].

每经记者｜许立波 每经编辑｜文多 丨 2025年5月8日 星期四 丨 5月7日上午，常山药业盘中一度涨停，股价创历史新高。7日上午，《每日经济新闻》记者致电公司证 券部，对方表示公司生产经营一切正常。同日晚间，常山药业公告称，公司艾本那肽注射液尚未上市销 售，该注射液用于治疗2型糖尿病的上市许可申请已经获得国家药监局受理，目前处于专业审评阶段， 艾本那肽最终能否获批上市及获批时间仍存在不确定性。即使未来艾本那肽上市，也面临较高的市场竞 争风险。 点评：公司公告已明确，核心产品艾本那肽尚处于审评阶段，且未来面临较高竞争压力和不确定性。短 期内，公司股价已明显脱离基本面，存在情绪炒作迹象。 NO.1 将减肥药纳入基本药物目录？世卫组织回应 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自 担。 5月7日，昊海生科公告称，公司收到控股股东、实际控制人之一蒋伟通知，其于近日收到中国证监会出 具的《立案告知书》：因涉嫌内幕交易，决定对其立案。据昊海生科了解，该事项与公司股票无关。本 次事项系对蒋伟个人的调查，其不参与公司日常经营管理，该事项不会对公司日常经营活动产生重大影 响。 点评：尽 ...

Macro News - The People's Bank of China announced a reduction in the reserve requirement ratio by 0.5 percentage points and a decrease in policy interest rates by 0.1 percentage points, along with adjustments to structural monetary policy tools [3] - The National Financial Regulatory Administration plans to enhance the role of insurance funds as patient and long-term capital, introducing measures to support capital market stability and activity [3] - The China Securities Regulatory Commission (CSRC) is set to implement reforms for the Sci-Tech Innovation Board and the Growth Enterprise Market, and will revise the management measures for major asset restructuring of listed companies [3] Industry News - China's gold reserves reached 73.77 million ounces at the end of April, marking an increase of 70,000 ounces and continuing a six-month trend of gold accumulation [6] - The CSRC has issued an action plan to promote the high-quality development of public funds, which includes adjusting management fees and establishing a performance-based assessment system for fund managers [6] - Shanghai announced a reduction in personal housing provident fund loan rates, effective from May 8, 2025, with rates for first-time homebuyers set at 2.1% for loans under five years and 2.6% for loans over five years [6] Company News - Geely Automobile announced a proposal to privatize Zeekr at a price of $2.57 per share [9] - Kweichow Moutai reported a share buyback of 934,800 shares in April, with a total expenditure of 1.44 billion yuan [10] - BeiGene reported a net loss of 94.5 million yuan in the first quarter [10] - Qingdao Beer plans to acquire 100% equity of Jimo Huangjiu [10] - Hive Storage confirmed that its LPDDR4X and eMMC storage products are being used in the Go2 intelligent robotic dog developed by Yushu Technology [10]