关于控股子公司获美国 FDA 药品临床试验批准的公告 证券代码：600196 股票简称：复星医药 编号：临 2025-085 上海复星医药（集团）股份有限公司 截至 2025 年 4 月，本集团现阶段针对 LBP-ShC4 的累计研发投入约为人民币 0.17 亿元（未经审计）。 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。 一、概况 上海复星医药（集团）股份有限公司（以下简称"本公司"）控股子公司上海 菌济健康科技有限公司（以下简称"菌济健康"）收到美国 FDA（即美国食品药品 监督管理局）关于同意 LBP-ShC4 开展临床试验的批准。菌济健康拟于条件具备后开 展 LBP-ShC4 的 I 期临床试验。 二、LBP-ShC4 的研究情况 LBP-ShC4 为本集团（即本公司及控股子公司/单位，下同）自主研发的活体生 物治疗产品，拟用于治疗雄激素脱发（AGA）。 截至本公告日期（2025 年 5 月 9 日），于全球范围内尚无用于治疗雄激素脱发 （AGA）的活体生物治疗产品（包括单药或联合治疗方案）获批上市。 三、风险提示 ...

Core Viewpoint - The first "Fosun Cup" AI+ Entrepreneurship and Innovation Competition has been launched, aiming to integrate cutting-edge technology with industry applications, leveraging Fosun's extensive resources and global industry scenarios [1][10]. Group 1: Competition Overview - The competition is supported by Fosun's global investment institution, Fosun Ruijing Capital, which will provide investments ranging from 5 million to 50 million yuan for the top three teams [3][11]. - Winning teams will also gain priority access to over 200 industry application scenarios, including AI applications in finance, healthcare, and intelligent manufacturing [3][11]. - The competition includes cash prizes of 100,000 yuan or equivalent resources for the top teams, along with direct recruitment opportunities for outstanding teams [4][11]. Group 2: Recruitment Tracks - The competition is recruiting AI pioneers across various tracks, including AI+Finance, AI+Healthcare, AI+Marketing, AI for Science (AI4S), and AI+Intelligent Agents [4][11]. - Each track focuses on specific applications of AI, such as financial data processing, drug development, and intelligent marketing solutions [4][11]. Group 3: Competition Schedule - The project recruitment phase runs until June 15, 2025, followed by a selection process to identify over 20 enterprises for the initial round [6][7]. - The initial round will take place from June 15 to June 30, 2025, where 20+ enterprises will compete for a spot in the finals [7]. - The final competition is scheduled for July 2025, where experts and executives will evaluate the projects through presentations [8]. Group 4: Fosun's Strategic Focus - Fosun emphasizes technology innovation as a core strategic pillar, building a global innovation system that integrates independent research, investment incubation, and ecological cooperation [10][11]. - The company has made significant investments in AI and robotics, with a focus on enhancing efficiency in drug development, medical imaging, and precision medicine [10][12]. - Fosun's subsidiaries, including Fosun Pharma and Fosun Wealth Holdings, are actively integrating AI into their operations to improve decision-making, operational efficiency, and market insights [12][14].

Core Insights - The average annual salary of A-share chairpersons shows a significant concentration in the range of 1 million to 2 million yuan, with 1,402 individuals, accounting for one-third of the total [1][4] - The total disclosed annual salary for 4,231 listed companies reached 5.789 billion yuan, with 13 chairpersons earning over 10 million yuan [1][4] - The number of chairpersons with annual salaries exceeding 10 million yuan has decreased from 27 in 2022 to 16 in 2023, and further down to 13 in 2024 [4] Salary Distribution - The top three highest-paid chairpersons are from the biopharmaceutical industry, with WuXi AppTec's chairman earning 41.8 million yuan, followed by Mindray Medical's chairman at 24.939 million yuan, and BeiGene's chairman at 20.1938 million yuan [2][3] - The salary distribution is characterized by an olive-shaped curve, with fewer individuals earning higher salaries; for instance, there are 381 individuals earning between 2 million and 3 million yuan, and only 67 earning between 4 million and 5 million yuan [6] Salary Changes - A total of 3,765 chairpersons had comparable salaries from 2023 to 2024, with 1,377 experiencing a decrease (37%) and 1,985 seeing an increase (58%) [8] - Notable salary reductions were observed among high-earning chairpersons, with some experiencing declines of over 90% due to poor company performance [9][10] Industry Performance - The salary trends reflect a dichotomy in industry performance, with high salaries in thriving sectors like media, electronics, and pharmaceuticals, while industries like real estate and finance are facing salary cuts [11][13] - The average salary for chairpersons in the media industry was 1.78 million yuan, the highest among 31 sectors, while the average salary in the construction and defense sectors was below 1 million yuan [12][13]

根据《公司章程》的规定，董事长为复星医药的法定代表人。本次调整后，复星医药的法定代表人将变 更为陈玉卿。 资料显示，陈玉卿，1975年12月出生，现任复星医药执行董事、董事长（均自2025年4月29日起任）， 并于复星医药若干控股子公司担任董事、管理层职务。陈玉卿于2010年1月加入复星医药，其间曾历任 公司人力资源部总经理、总裁助理、副总裁、高级副总裁、联席总裁、联席首席执行官等；于2020年8 月至2021年5月及2022年10月至今任控股子公司上海复星健康科技（集团）有限公司董事长；于2024年9 月至2025年4月任复星医药非执行董事。陈玉卿现任香港联交所上市公司复星国际有限公司（股票代 码：00656，以下简称"复星国际"）高级副总裁，并曾任复星国际副总裁。 加入复星医药前，陈玉卿于1997年7月至1999年7月任上海大学材料学院教师，于1999年7月至2005年3月 历任延锋伟世通汽车饰件系统有限公司（现更名为延锋汽车饰件系统有限公司）、延锋伟世通（北京） 汽车饰件系统有限公司、上海延锋江森座椅有限公司人力资源经理，于2005年6月至2006年4月任上海埃 力生（集团）有限公司人力资源部发展经理， ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年4月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 上海復星醫藥(集團)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) 呈交日期: 2025年5月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02196 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 551,940,500 | RMB | | 1 | RMB | | 551,940,500 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 551,940,500 | RMB | | 1 | RMB ...

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份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。 上 海 復 星 醫 藥（ 集 團 ）股 份 有 限 公 司 Shanghai Fosun Pharmaceutical (Group) Co., Ltd.* （股份代號：02196） 海外監管公告 本公告乃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。 茲載列上海復星醫藥（集團）股份有限公司（「本公司」）在上海證券交易所網站刊登的《關於 回購股份的進展公告》，僅供參閱。 承董事會命 上海復星醫藥（集團）股份有限公司 董事長 陳玉卿 中國，上海 2025 年5 月6 日 （於中華人民共和國註冊成立的股份有限公司） 於本公告日期，本公司之執行董事為陳玉卿先生、關曉暉女士、文德鏞先生及王可心先生；本公司之非執行 董事為陳啟宇先生、徐曉亮先生、潘東輝先生及吳以芳先生；以及本公司之獨立非執行董事為李玲女士、湯 谷良先生、王全弟先生及余梓山先生。 * 僅供識別 证券代码：600196 证券简称：复星 ...

证券代码：600196 证券简称：复星医药 公告编号：2025-084 关于回购股份的进展公告 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。 重要内容提示（简称同正文） 截至 2025 年 4 月 30 日收市，回购进展如下： | | A 股回购方案 | H 股回购方案 | | --- | --- | --- | | 回购方案 | 2025/1/23 | 2025/1/23 | | 首次披露日 | | | | 回购方案 | 2025/1/22~2025/7/21 | 2025/1/22~2025/7/21 | | 实施期限 | | | | （含首尾两日） | | | | 预计回购金额 | 人民币30,000万元~60,000万元 | 不适用 | | | □减少注册资本 √用于员工持股计划或股权激励 | 包括但不限于注销或作为库存 股份等 | | 回购用途 | √用于转换公司可转债 | | | | □为维护公司价值及股东权益 | | | | （上述二者之一或二者皆有） | | | 累计已回购股数 | 7,310,552股A 股 ...

Summary of Fosun Pharmaceutical Conference Call Company Overview - **Company**: Fosun Pharmaceutical (2196.HK) - **Industry**: Healthcare, specifically pharmaceuticals and medical technology Key Financial Results - **1Q25 Revenue**: Rmb9.4 billion, a decrease of 7% year-over-year (y/y) [3] - **Recurring Net Profit**: Rmb942 million, down 33% y/y, below consensus estimates [3] - **Pharmaceutical Segment**: Revenue of Rmb6.7 billion and net profit of Rmb740 million, both down approximately 10% y/y due to the impact of the 10th national volume-based procurement (VBP) [3] - **Device Segment**: Revenue of Rmb1.7 billion, an increase of 2% y/y, with profit remaining flat y/y [3] - **Services Segment**: Revenue of Rmb945 million, down 2% y/y, driven by reduced scale of online business; profit of Rmb464 million compared to a loss of Rmb87 million in 1Q24 due to the disposal of Unicorn (United Family Healthcare) [3] Strategic Developments - **Divestment of Non-Core Units**: Continuing divestment expected to generate Rmb5 billion in cash from non-core equity investments, financial assets, and fixed assets [4] - **Increased Stake in Henlius**: Stake increased from 59.56% to 63.43% [7] - **Focus on Innovation**: Accelerating transformation with a focus on drug and medtech innovation and internalization [7] Pipeline and Future Outlook - **Pipeline Catalysts for 2025**: - Serplulimab (PD-1) BLA filing for first-line extensive-stage small cell lung cancer (ES-SCLC) to the US FDA - Approval for FCN437c (CDK4/6) for second-line breast cancer (BC) - Approval for FCN-159 (MEK1/2) for NF1-pediatric LCH and ECD-adult - 2025 ASCO data readouts for several drugs from Henlius [4] Risks and Challenges - **Impact of VBP**: Ongoing challenges from generics and biosimilars under VBP affecting revenue [7] - **Subpar Performance**: Issues with Gland Pharma and loss-making hospitals and CAR-T segments are weighing on near-term earnings [7] - **Market Conditions**: Government control over drug prices and potential pipeline setbacks pose risks [11][11] Valuation and Ratings - **Stock Rating**: Equal-weight with a price target of HK$14.20 [6] - **Valuation Methodology**: Discounted cash flow analysis with a WACC of 8.1%, terminal growth rate of 3%, and long-term ROE of 11.2% [9] Conclusion Fosun Pharmaceutical is navigating a challenging environment with declining revenues and profits in the first quarter of 2025. The company is focusing on strategic divestments and innovation in drug development while facing significant risks from market dynamics and regulatory pressures.

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) | 公司名稱： | 上海復星醫藥(集團)股份有限公司 Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (於中華人民共和國註冊成立的股份有限公司) | | | | --- | --- | --- | --- | | 表格類別： 呈交日期： | 股票 2025年5月2日 | 狀態： | 新提交 | 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) | 02196 | 說明 | | ...