Core Insights - Zhejiang Medicine's operating performance continues to double due to rising vitamin prices, with a significant increase in net profit despite only a slight increase in revenue [2][3] Financial Performance - In Q1 2025, the company achieved operating revenue of 2.255 billion yuan, a year-on-year increase of 0.28%, while net profit attributable to shareholders reached 409 million yuan, up 273.08% [2] - For the full year 2024, Zhejiang Medicine reported operating revenue of 9.375 billion yuan, a historical high with a year-on-year growth of 20.29%, and net profit of 1.161 billion yuan, up 170.11% [3] - The company's net profit and deducting non-recurring profit both saw significant increases, driven by rising market prices and demand for its main products, vitamin E and vitamin A [3] Product Performance - Revenue from vitamin and vitamin-related products reached 4.696 billion yuan in 2024, a year-on-year increase of 45.33%, with a decrease in operating costs by 3.40% and a gross margin of 54.54%, up 22.93 percentage points from the previous year [3] - The company specializes in life nutrition products, including synthetic vitamin E, vitamin A, and other vitamins, holding a leading position in both domestic and international markets [2] Cash Flow and Financial Health - Zhejiang Medicine experienced a significant inflow of operating cash flow, amounting to 1.223 billion yuan in 2024, a year-on-year increase of 92.90% [3] - As of the end of March 2025, the company's asset-liability ratio stood at 19.51%, with financial expenses turning negative at -40.72 million yuan compared to 2.007 million yuan in the same period last year [4]

截至2025年4月24日 09:50，创新药企ETF(560900)上涨1.80%，盘中成交额不断走阔。跟踪指数中证创 新药产业指数(931152)强势上涨1.60%，成分股凯莱英(002821)上涨10.01%，迈威生物(688062)上涨 7.23%，荣昌生物(688331)上涨6.57%，泽璟制药(688266)，浙江医药(600216)等个股跟涨。 银河证券分析认为，创新药企正处于关键转型期，长春高新2024年研发投入达26.90亿元，同比增长 11.20%，占营收比重近20%。公司积极推进生长激素产品的适应症拓展和海外布局，长效生长激素实现 自产自用，同时促卵泡激素水剂等新产品陆续上市。 此外，摩根旗下相关ETF还有布局港股科技龙头的摩根恒生科技ETF(QDII)(513890)，捕捉绿色中国投资 机遇的摩根中证碳中和60ETF(560960)，布局中国核心资产的摩根MSCI中国A股ETF(515770)，以及布 局硬科技领域的科创信息技术ETF摩根(588770)。 伴随AI驱动新一轮科技浪潮的兴起，摩根资产管理整合旗下"全球视野投科技"产品线，从主动管理到被 动投资产品，助力投资者从全球视野布局 ...

2024 年和1Q25 业绩符合市场预期 浙江医药2024 年营收93.75 亿元，同比+20.3%；归母净利润11.61 亿元，对应每股盈利1.21 元，同比 +170%，符合市场预期。业绩大幅增长主要是维生素A、E 价格上涨所致，2024 年毛利率同比+9.9ppt 至41.3%。 4Q24 实现营收22.62 亿元，同/环比变化+18%/-16.4%；归母净利润3.11亿元，同/环比变化 +142%/-41.8%，环比下滑主要是计提1.62 亿元资产减值损失，由于维生素价格维持高位，4Q24 毛利率 环比+1.7ppt 至48%。 2024 年营养品营收46.97 亿元，同比+43.51%；维生素产品销量52,688吨，同比+32.87%；因产品价格提 升致毛利率同比提升23.3ppt 至54.5%。 药品营收45.80 亿元，同比+3.24%；毛利率同比下滑3.32ppt 至30.54%。 1Q25 实现营收22.55 亿元，同/环比基本持平；实现归母净利润4.09 亿元，对应每股盈利0.43 元，同/环 比增长273%/32%，符合市场预期。 1Q25 维生素价格高位略有回落，毛利率环比下降5.8p ...

转自：证券日报网 重要公告： 中国交建：一季度新签合同额5530.34亿元 同比增长9.02% 北元集团：一季度净利润同比增长442.29% 方大特钢：一季度净利润同比增长167.99% 杰瑞股份：拟1.5亿元—2.5亿元回购公司股份 海泰科：一季度净利润同比增长5738.82% 沪市重要公告： 澜起科技（688008）公告，公司2025年第一季度实现营业收入12.22亿元，同比增长65.78%；净利 润5.25亿元，同比增长135.14%。 上海雅仕：一季度净利润同比增长129.78% 上海雅仕（603329）公告，公司2025年第一季度实现营业收入8.01亿元，同比增长57.5%；净利润 974.87万元，同比增长129.78% 北元集团：一季度净利润同比增长442.29% 中国交建：一季度新签合同额5530.34亿元 同比增长9.02% 中国交建（601800）公告，2025年一季度，公司新签合同额为5530.34亿元，同比增长9.02%，完成 年度目标的27%。 方大特钢：一季度净利润同比增长167.99% 方大特钢（600507）公告，公司2025年第一季度实现营业收入43.46亿元，同比下降26. ...

证券代码：600216 证券简称：浙江医药 公告编号：2025-013 浙江医药股份有限公司 第十届四次监事会决议公告 本公司监事会及全体监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个别及连带责任。 一、监事会会议召开情况 浙江医药股份有限公司第十届四次监事会会议于 2025 年 4 月 23 日上午在浙 江医药总部 1 号楼 401 会议室召开。本次会议的通知于 2025 年 4 月 3 日以专人 送达或电子邮件方式发出。会议应参加监事五人，实际参加监事五人。会议由监 事会主席李哲先生主持，会议符合《公司法》和《公司章程》的有关规定和要求。 二、监事会会议审议情况 1. 审议通过了《公司 2024 年度监事会工作报告》 同意 5 票，反对 0 票，弃权 0 票。 3．审议通过了《公司 2024 年度利润分配预案》 同意 5 票，反对 0 票，弃权 0 票。 监事会认为，公司 2024 年度利润分配预案的决策程序、利润分配的形式符 合《公司章程》。此利润分配预案充分考虑各方面因素，不存在损害中小股东利 益的情形，符合公司经营现状，有利于公司持续、稳定、 ...

证券代码：600216 证券简称：浙江医药 公告编号：2025-012 浙江医药股份有限公司 二、会议审议情况 1. 董事会审议通过了《公司 2024 年度董事会工作报告》 同意 11 票，反对 0 票，弃权 0 票。 本议案需提交股东大会审议。 2．董事会审议通过了《公司 2024 年度总裁工作报告》 同意 11 票，反对 0 票，弃权 0 票。 第十届五次董事会决议公告 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个别及连带责任。 一、董事会会议召开情况 浙江医药股份有限公司第十届五次董事会会议于 2025年 4 月 23 日上午在浙 江医药总部 1 号楼 401 会议室，以现场结合通讯表决的方式召开。本次会议的通 知于 2025 年 4 月 3 日以专人送达或电子邮件方式发出。会议应参加董事十一人， 实际参加董事十一人，其中董事苍宏宇先生通过通讯表决方式出席会议。会议由 公司董事长李男行先生主持，公司监事及其他高级管理人员列席会议，会议符合 《公司法》和《公司章程》的有关规定和要求。 本议案需提交股东大会审议。 4．董事会审议通 ...

浙江医药股份有限公司 证券代码：600216 证券简称：浙江医药 公告编号：2025-014 2024 年年度利润分配方案公告 公司拟向全体股东每股派发现金红利0.37元（含税）。截至2024年12月31 日，公司总股本961,637,750股，以此计算合计拟派发现金红利355,805,967.50 元（含税）。本年度公司现金分红占2024年度归属于上市公司股东净利润的比例 30.66%。 1 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： 每股分配比例：每股派发现金红利 0.37 元（含税） 本次利润分配以实施权益分派股权登记日登记的总股本，扣除回购专 用证券账户中累计回购的股份为基数，具体日期将在权益分派实施公告中明确。 在实施权益分派的股权登记日前公司总股本发生变动的，拟维持每股分配比例不 变，相应调整分配总额，并将在相关公告中披露。 不触及《上海证券交易所股票上市规则（2024 年 4 月修订）》（以下简 称《股票上市规则》）第 9.8.1 条第一款第（八）项规定的可能被实施其他风险 警示的情形。 一、 ...

Financial Performance - Zhejiang Medicine's operating revenue for 2024 reached RMB 9,375,216,922.05, representing a 20.29% increase compared to RMB 7,794,145,971.37 in 2023[22]. - The net profit attributable to shareholders of the listed company surged to RMB 1,160,510,670.41, a significant increase of 170.11% from RMB 429,639,626.26 in the previous year[22]. - The net profit after deducting non-recurring gains and losses was RMB 1,160,134,311.05, up 656.77% from RMB 153,300,563.21 in 2023[22]. - The net cash flow from operating activities for 2024 was RMB 1,223,298,641.95, reflecting a 92.85% increase from RMB 634,311,163.34 in 2023[22]. - As of the end of 2024, the net assets attributable to shareholders of the listed company were RMB 10,648,142,085.06, a 10.56% increase from RMB 9,630,715,541.49 at the end of 2023[22]. - Total assets increased by 7.95% to RMB 13,795,473,105.69 at the end of 2024, compared to RMB 12,779,539,756.21 at the end of 2023[22]. - Basic earnings per share increased by 168.89% to CNY 1.21 from CNY 0.45 in 2023[23]. - Diluted earnings per share also rose by 168.89% to CNY 1.21 compared to CNY 0.45 in 2023[23]. - The weighted average return on equity increased by 6.89 percentage points to 11.43% from 4.54% in 2023[23]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of RMB 0.37 per share, totaling RMB 355,805,967.50, which represents 30.66% of the net profit attributable to shareholders for 2024[6]. - The company executed the 2023 profit distribution plan in July 2024, distributing a cash dividend of CNY 355,805,967.50, which accounts for 30.66% of the net profit attributable to ordinary shareholders[150]. - The cumulative cash dividend amount over the last three accounting years is CNY 664,097,380.00, with an average cash dividend ratio of 93.55% based on the average net profit of CNY 709,906,793.30[152]. Operational Highlights - The company has not reported any significant risks that could materially affect its operations during the reporting period[9]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[8]. - The company has a standard unqualified audit report from Tianjian Accounting Firm, ensuring the accuracy and completeness of the financial report[5]. - The company completed the trial production of the new process for the Changhai Biological 331 project, achieving expected goals[30]. - The subsidiary Laoyi Pharmaceutical reported a dual growth in sales and profits through optimized operational strategies[32]. - The company’s injection product Daptomycin (0.5g) received the drug registration certificate during the reporting period[30]. - The subsidiary Xinma Biological is advancing the production license application for the antibody-drug conjugate ARX788[32]. Market and Product Development - The company is focusing on innovation in drug development, particularly in innovative drugs and biotechnology, as the pharmaceutical industry shifts towards an innovation-driven model[33]. - The company is actively expanding its market presence in Southeast Asia while consolidating its position in Europe and North America[33]. - The company has established a comprehensive product system in the life nutrition sector, including synthetic vitamins E and A, with significant market positions in both domestic and international markets[35]. - The company is transitioning to an "Industry 4.0" model, implementing modern, digital control systems in production, including unmanned production lines and workshops[41]. - The company is focusing on developing innovative drugs to meet unmet clinical needs and creating generic drugs with certain technical barriers, adopting a "combination of generic and innovative" strategy for product pipeline differentiation[73]. Research and Development - The company’s R&D investment amounted to 79,568.92 million RMB, representing 7.10% of operating income and 7.16% of net assets[91]. - The company has established two technical platforms in the vitamin product field: industrial green chemistry and microencapsulation of active ingredients[85]. - There are currently 4 new drug projects under research, with 6 in clinical research or BE stages, and 10 production applications submitted[85]. - The company is currently conducting clinical trials for the new drug Apixaban, which targets urinary system infections with a new indication[86]. - The company has received IND approval for LYSC98, a Class 1 new drug for anti-infection, expected to launch in May 2024[86]. Environmental and Social Responsibility - The company has established an environmental protection mechanism and invested CNY 84,993,900 in environmental protection funds during the reporting period[158]. - The company has implemented pollution prevention facilities in compliance with environmental assessment requirements, including three RTO incinerators and various wastewater treatment systems[160]. - The company has developed emergency response plans for environmental incidents, which are filed with local ecological environment authorities and include annual drills[164]. - The company has achieved stable operation of its wastewater treatment systems, with all emissions meeting regulatory standards according to annual environmental monitoring reports[161]. - Total donations for social responsibility projects amounted to 2.82 million yuan, benefiting various educational foundations and charities[170]. Governance and Management - The company held one shareholders' meeting during the reporting period, ensuring equal treatment of all shareholders and compliance with legal requirements[117]. - The board of directors consists of 11 members, including 4 independent directors, and has established specialized committees to enhance governance[118]. - The supervisory board has 5 members, ensuring independent oversight of the company's operations and compliance with regulations[119]. - The company has implemented stock incentive plans, resulting in significant reductions in compensation for several executives, such as a decrease of 50,000 for the Vice President[124]. - The company is undergoing a leadership transition, with several key positions set to change by June 2024[124]. Risks and Challenges - The company faces risks from intensified market competition, which may lead to a decline in market share and profit margins[113]. - Rising production costs due to fluctuations in raw material prices and increased labor costs may impact profitability; the company plans to optimize supply chain management and improve production efficiency[113]. - The risk of new drug development failures exists, with high costs and long cycles; the company aims to enhance budget management and improve research quality through advanced management techniques[113]. - Investment in innovative biopharmaceuticals may face challenges in overseas market registrations, potentially extending the investment return period; the company will streamline internal processes to mitigate impacts on profitability[113].

Financial Performance - The company's operating revenue for Q1 2025 was CNY 2,255,389,182.25, a slight increase of 0.28% compared to CNY 2,249,164,467.20 in the same period last year[5] - Net profit attributable to shareholders reached CNY 409,085,292.06, representing a significant increase of 273.08% from CNY 109,649,638.31 year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 402,222,697.47, up 279.23% from CNY 106,062,788.51 in the previous year[5] - Basic and diluted earnings per share were both CNY 0.43, reflecting a 290.91% increase from CNY 0.11 in the previous year[5] - The weighted average return on equity rose to 3.77%, an increase of 2.64 percentage points from 1.13% year-on-year[5] - Total operating revenue for Q1 2025 was CNY 2,255,389,182.25, a slight increase of 0.6% compared to CNY 2,249,164,467.20 in Q1 2024[16] - Net profit for Q1 2025 reached CNY 385,252,415.30, a substantial increase of 385.5% compared to CNY 79,363,327.86 in Q1 2024[17] - Other comprehensive income after tax for Q1 2025 was CNY 9,122,458.68, compared to a loss of CNY 3,950,569.56 in Q1 2024[17] - The total comprehensive income for Q1 2025 was CNY 394,374,873.98, significantly higher than CNY 75,412,758.30 in Q1 2024[17] Cash Flow - The net cash flow from operating activities was CNY 304,964,651.00, a remarkable increase of 1,216.17% compared to CNY 23,170,551.20 in the same quarter last year[5] - Cash flow from operating activities generated a net amount of CNY 304,964,651.00, a significant increase from CNY 23,170,551.20 in Q1 2024[19] - The net cash flow from investment activities was -$118.42 million, a decrease from $57.78 million in the previous period[20] - Cash inflow from financing activities totaled $185 million, down from $285 million year-over-year[20] - The net cash flow from financing activities was $42.23 million, slightly down from $43.28 million in the previous period[20] - The net increase in cash and cash equivalents was $251.60 million, compared to $124.27 million in the previous period[20] - The ending balance of cash and cash equivalents was $2.22 billion, up from $1.58 billion year-over-year[20] - Cash received from investment activities amounted to $472.92 million, compared to $470.62 million in the previous period[20] - Cash outflow for investment activities was $591.34 million, an increase from $412.85 million in the previous period[20] - Cash received from loans was $185 million, down from $285 million in the previous period[20] - Cash paid for debt repayment was $137 million, compared to $235 million in the previous period[20] - The impact of exchange rate changes on cash and cash equivalents was $22.83 million, compared to $44.69 thousand in the previous period[20] Assets and Liabilities - Total assets at the end of the reporting period were CNY 13,996,653,397.63, up 1.46% from CNY 13,795,473,105.69 at the end of the previous year[6] - The equity attributable to shareholders increased to CNY 11,067,801,751.72, a growth of 3.94% from CNY 10,648,142,085.06 at the end of last year[6] - The company's current assets totaled RMB 6,811,951,484.56, compared to RMB 6,584,941,036.57 at the end of the previous period, reflecting a growth of approximately 3.45%[13] - Cash and cash equivalents increased to RMB 2,217,402,229.72 from RMB 1,965,821,411.06, representing a growth of about 12.83%[12] - Accounts receivable rose to RMB 1,709,971,371.66, up from RMB 1,627,259,114.94, indicating an increase of approximately 5.06%[12] - The company's total liabilities decreased to RMB 2,730,687,092.79 from RMB 2,927,530,865.79, a reduction of about 6.71%[14] - The equity attributable to shareholders increased to RMB 11,067,801,751.72 from RMB 10,648,142,085.06, marking an increase of approximately 3.93%[14] - The company's inventory decreased to RMB 2,039,510,754.71 from RMB 2,132,515,095.23, reflecting a decline of about 4.36%[12] Other Financial Metrics - The increase in net profit was primarily driven by the rise in sales prices of Vitamin E and Vitamin A series products compared to the same quarter last year[8] - The company reported non-recurring gains totaling CNY 6,862,594.59, which included various government subsidies and asset disposal gains[8] - The company reported an investment income of CNY 8,080,460.07, recovering from a loss of CNY 1,500,647.53 in the previous year[16] - Research and development expenses for Q1 2025 were CNY 177,463,871.00, a decrease of 9.5% from CNY 196,215,236.98 in Q1 2024[16] - The company experienced a decrease in sales expenses to CNY 240,680,661.64, down from CNY 288,699,872.16 in the same quarter last year[16] - The company has not reported any significant changes in shareholder relationships or actions during the reporting period[12] - The long-term investments stood at RMB 74,404,761.76, showing stability compared to previous periods[13]

目 录 | 一、审计报告……………………………………………………… 第 1—6 | | 页 | | --- | --- | --- | | 二、财务报表……………………………………………………… 第 7—14 | | 页 | | （一）合并资产负债表…………………………………………… 第 | 7 | 页 | | （二）母公司资产负债表………………………………………… 第 | 8 | 页 | | （三）合并利润表………………………………………………… 第 | 9 | 页 | | （四）母公司利润表………………………………………………第 | 10 | 页 | | （五）合并现金流量表……………………………………………第 | 11 | 页 | | （六）母公司现金流量表…………………………………………第 | 12 | 页 | | （七）合并所有者权益变动表……………………………………第 | 13 | 页 | | （八）母公司所有者权益变动表…………………………………第 | 14 | 页 | | | | 关键审计事项是我们根据职业判断，认为对本期财务报表审计最为重要的事 项。这些事项的应对以对财务报表整体进行审计并形 ...