Core Viewpoint - TianTan Biological (600161) has received approval from the National Medical Products Administration for its 2.5g/bottle (10%, 25ml) "Intravenous Human Immunoglobulin (pH4)", marking a significant step in expanding its product offerings in the immunoglobulin market [1] Group 1: Product Approval - Chengdu Rongsheng Pharmaceutical Co., Ltd., a subsidiary of TianTan Biological, has obtained the "Drug Supplement Application Approval Notice" for its new product [1] - The product is indicated for the treatment of primary immunoglobulin G deficiency, secondary immunoglobulin G deficiency diseases, and autoimmune diseases [1] - There are currently no other products with the same 2.5g/bottle (10%, 25ml) specification available in the domestic market [1] Group 2: Regulatory Compliance - The product must still undergo a GMP compliance inspection and obtain the "Drug GMP Compliance Inspection Notification" from the Sichuan Provincial Drug Administration before it can be produced and marketed [1]

Investment Rating - The industry rating is "Outperform the Market" [7] Core Viewpoints - The report highlights the potential of subcutaneous immunoglobulin (SCIG) as the next major product in the blood products sector, with Tian Tan Biologics positioned to be the first domestic manufacturer to market this product [3][4][15] - The global market size for SCIG is projected to reach approximately $4.9 billion in 2024, which is about half the size of the intravenous immunoglobulin (IVIG) market [3][19][26] - The report emphasizes the advantages of SCIG over IVIG, including better tolerability, lower incidence of adverse reactions, lower economic costs, higher patient satisfaction, and ease of self-administration [3][19][21] Summary by Sections Market Review - The CITIC Pharmaceutical Index increased by 3.6% during the week of June 30 to July 4, 2025, outperforming the CSI 300 Index by 2.0 percentage points [3][36] - Year-to-date, the CITIC Pharmaceutical Index has risen by 10.8%, surpassing the CSI 300 Index by 9.6 percentage points [3][36] - Notable stock performances included Seer Medical (+51.55%), Guangsheng Tang (+48.64%), and Shenzhou Cell (+45.01%) [3][51] Focus on SCIG - SCIG is recognized as the third-largest segment in the global blood products market, with a projected size of $4.9 billion, representing 15.5% of the market [26][29] - The report forecasts a compound annual growth rate (CAGR) of 7.2% for the immunoglobulin market (IVIG + SCIG) from 2025 to 2034, with SCIG expected to be the fastest-growing segment [26][29] - Tian Tan Biologics is expected to gain a significant competitive advantage as it is on track to be the first company to launch SCIG in China, with its application for production submitted and under review [3][34] Investment Recommendations - The report suggests focusing on innovative drugs as a primary investment theme, with a recommendation to consider leading companies and those with potential catalysts in their development pipelines [4][5] - The recommended investment portfolio includes companies such as Kangfang Biologics, Xinda Biologics, and Tian Tan Biologics [4][5][12]

Core Points - The company held its 22nd meeting of the 9th Board of Directors on June 30, 2025, via electronic communication, with all nine directors participating in the vote [1][2] - The board approved the revised "External Donation Management Measures" [1] - The company’s subsidiary, Lanzhou Biological Products Co., Ltd., will donate 800,000 yuan to the Gansu Provincial Health Development Foundation [3][4] - The company’s subsidiary, Nanjing Rouxin Plasma Collection Co., Ltd., will donate 30,000 yuan to the Nanjing Red Cross Society [5][6] - The announcement was made on June 30, 2025 [8]

北京天坛生物制品股份有限公司 第九届董事会第二十二次会议决议公告 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。 证券代码：600161 证券简称：天坛生物 公告编号：2025-027 一、审议通过《关于修订<对外捐赠管理办法>的议案》 同意修订后的《北京天坛生物制品股份有限公司对外捐赠管理办法》。 表决结果：9 票同意，0 票反对，0 票弃权。 同意公司下属南部县蓉生单采血浆有限公司向南部县红十字会捐赠 3 万元。 表决结果：9 票同意，0 票反对，0 票弃权。 特此公告。 北京天坛生物制品股份有限公司(以下简称"公司")第九届董事会第二十二 次会议于 2025 年 6 月 25 日以电子方式发出会议通知，于 2025 年 6 月 30 日以通 讯表决方式召开。会议应参加表决董事九人，实际参加表决董事九人。会议符合 《公司法》及《公司章程》的有关规定，会议审议通过以下议案： 二、审议通过《关于兰州血制向甘肃省卫生健康发展基金会实施捐赠的议 案》 同意公司下属国药集团兰州生物制药有限公司向甘肃省卫生健康发展基金 会捐赠 80 ...

Core Viewpoint - The Chinese blood products industry is undergoing significant consolidation, with major players engaging in aggressive mergers and acquisitions to capture plasma resources, leading to the emergence of potential super giants in the sector [1][5]. Industry Landscape - The blood products industry in China is characterized by a "four-way" competitive landscape, dominated by four major groups: China National Pharmaceutical Group (Sinopharm), Haier Group, China Resources, and Hualan Biological Engineering [2][4]. - The industry has transitioned into a stock competition era since 2001, with new entrants needing to acquire existing licensed companies due to a moratorium on new licenses [2][3]. Mergers and Acquisitions - Significant acquisitions include China Resources' acquisition of Boya Biological for 4.8 billion yuan, Haier's 12.5 billion yuan acquisition of Shanghai Laishi, and Sinopharm's 4.5 billion yuan acquisition of Pilin Biological [1][2]. - The consolidation trend has led to a sharp increase in market concentration, with the top five companies' market share rising from under 50% in 2019 to over 70% by 2024 [4]. Plasma Collection and Utilization - Sinopharm's network includes 154 plasma collection stations, accounting for nearly 40% of the national total, with a collection volume of over 4,000 tons by mid-2025 [3]. - The cost structure of blood products heavily relies on raw plasma, which constitutes over 60% of total costs, making scale efficiency crucial for profitability [5][6]. Market Demand and Supply Gap - The domestic blood products market surpassed 60 billion yuan in 2023, with a demand gap of 4,000 tons, highlighting the need for leading companies to enhance their supply capabilities through technological upgrades [5][6]. - China's per capita consumption of blood products is significantly lower than that of developed countries, indicating a structural supply-demand imbalance [7][8]. Technological Advancements - Companies are shifting from a resource-driven model to a dual strategy of resource acquisition and research and development to overcome technological barriers and meet high-value product demands [9][10]. - Sinopharm and Hualan Biological are focusing on developing high-purity albumin and advanced coagulation factors, with significant investments in R&D to support these initiatives [10][11]. Future Outlook - The ongoing consolidation and technological advancements suggest that the Chinese blood products industry is on the verge of producing a super giant capable of competing globally [5][11]. - The combination of policy support, resource acquisition, and technological innovation is expected to drive the industry towards a more competitive and innovative future [10][11].

证券代码：600161 证券简称：天坛生物 编号：2025-026 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。 近日，北京天坛生物制品股份有限公司下属成都蓉生药业有限责任公司（以 下简称"成都蓉生"）收到四川省药品监督管理局颁发的《药品 GMP 符合性检查 告知书》。现就相关情况公告如下： 一、 药品 GMP 符合性检查告知书相关信息 编号：川许 2025116 被检查单位名称：成都蓉生药业有限责任公司 北京天坛生物制品股份有限公司 关于下属企业获得《药品GMP符合性检查告知书》的公告 检查地址：四川省成都市双流区菁园路 280 号 检查范围及相关车间、生产线：血液制品（皮下注射人免疫球蛋白），血液 制品生产车间，破袋融浆区、分离一区、分离二区、层析区、分装二区、分装一 区、包装区及辅助区域 检查时间：2025 年 4 月 7 日-2025 年 4 月 11 日 结论：符合《药品生产质量管理规范（2010 年修订）》及相关附录规定 发证机关：四川省药品监督管理局 二、 GMP 检查涉及的生产车间情况 车间名称：血液制品生产 ...

Group 1 - The core point of the article is that TianTan Biological (600161.SH) announced that its subsidiary Chengdu Rongsheng received a GMP compliance inspection notice from the Sichuan Provincial Drug Administration [1] - The inspection covered the production workshop and related areas for blood products (subcutaneous human immunoglobulin) [1] - Chengdu Rongsheng's blood product production workshop meets national GMP requirements and can commence production after obtaining the relevant registration certificate and production license [1] Group 2 - The product has completed Phase III clinical trials and a marketing authorization application has been submitted [1] - Future production may be influenced by various factors, indicating uncertainty [1]

Core Points - The company announced a cash dividend distribution of 0.1 yuan per share (including tax) for the fiscal year 2024, approved at the annual shareholders' meeting on May 27, 2025 [2][4] - The total cash dividend to be distributed amounts to 197,737,144.60 yuan (including tax), based on a total share capital of 1,977,371,446 shares [4] Distribution Details - The distribution is applicable to all shareholders registered with the China Securities Depository and Clearing Corporation Limited Shanghai Branch as of the close of trading on the registration date [3] - The cash dividends will be distributed through the clearing system of the China Securities Depository and Clearing Corporation Limited Shanghai Branch to shareholders who have completed designated transactions [5] Taxation Information - For individual shareholders holding shares for over one year, the dividend income is exempt from personal income tax, resulting in an actual cash dividend of 0.1 yuan per share [10] - For individual shareholders holding shares for one year or less, the company will not withhold personal income tax at the time of distribution, and the tax will be calculated based on the holding period upon transfer of shares [10] - For Qualified Foreign Institutional Investors (QFII), a 10% corporate income tax will be withheld, resulting in a net cash dividend of 0.09 yuan per share [11]

截至2025年6月13日收盘，天坛生物（600161）报收于19.43元，较上周的20.15元下跌3.57%。本周，天 坛生物6月10日盘中最高价报20.56元。6月13日盘中最低价报19.38元。天坛生物当前最新总市值384.2亿 元，在生物制品板块市值排名5/50，在两市A股市值排名350/5150。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 公司公告汇总：天坛生物2024年年度权益分派实施，A股每股现金红利0.1元（含税） 公司公告汇总 天坛生物2024年年度权益分派实施公告指出，A股每股现金红利为0.1元（含税）。股权登记日为2025年 6月19日，除权（息）日和现金红利发放日均为2025年6月20日。此次利润分配方案以公司总股本 1977371446股为基数，每股派发现金红利0.1元（含税），共计派发现金红利197737144.60元（含税）。 分配对象为截至股权登记日下午上海证券交易所收市后，在中国结算上海分公司登记在册的本公司全体 股东。对于持有公司无限售条件流通股的自然人股东及证券投资基金，个人持股期限超过1年 ...

Core Viewpoint - The company announced a cash dividend distribution plan, with a cash dividend of 0.1 yuan per share (including tax) for A shares, totaling approximately 197.74 million yuan to be distributed to shareholders [1][2]. Dividend Distribution Plan - The profit distribution plan was approved at the 2024 annual general meeting held on May 27, 2025 [1]. - The total share capital before the distribution is 1,977,371,446 shares, leading to a total cash dividend distribution of 197,737,144.60 yuan (including tax) [1]. Relevant Dates - The key dates for the dividend distribution are as follows: - Equity registration date: June 19, 2025 - Last trading date: June 20, 2025 - Ex-dividend date: June 20, 2025 - Cash dividend payment date: June 20, 2025 [1]. Taxation on Dividends - For individual shareholders holding unrestricted circulating shares, the actual cash dividend received will vary based on the holding period: - Holding period within 1 month: 20% tax, resulting in 0.08 yuan per share after tax - Holding period between 1 month and 1 year: 10% tax, resulting in 0.09 yuan per share after tax - Holding period over 1 year: exempt from personal income tax, resulting in 0.1 yuan per share [2]. - For Qualified Foreign Institutional Investors (QFII), a 10% corporate income tax will be withheld, leading to a net cash dividend of 0.09 yuan per share [3][5]. - For other institutional investors and corporate shareholders, the company will not withhold tax, and the actual cash dividend will be 0.1 yuan per share before tax [5]. Contact Information - For inquiries regarding the dividend distribution, shareholders can contact the Board Office at 010-65439720 [5].