证券代码：600529 证券简称：山东药玻 公告编号：2025-050 山东省药用玻璃股份有限公司 关于部分闲置募集资金购买理财产品到期赎回的公告 本公司董事会及全体董事保证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。 公司于2025年4月23日召开了第十届董事会第十七次会议和第十届监事会第十四次会议，并于2025年5月 16日召开了公司2024年年度股东大会，审议通过了《关于使用闲置募集资金购买理财产品的议案》，同 意公司使用总额度不超过人民币八亿元的暂时闲置募集资金进行购买安全性高、流动性好、期限不超过 12个月（含）的保本型理财产品（包括但不限于协定性存款、结构性存款、定期存款、通知存款、大额 存单等），并在上述额度内滚动使用，募集资金理财使用额度及授权的有效期为：自议案经公司2024年 年度股东大会审议通过之日起至2025年年度股东大会召开之日。 具体内容详见公司在上海证券交易所网站（www.sse.com.cn）披露的《山东省药用玻璃股份有限公司关 于使用闲置募集资金购买理财产品的公告》（公告编号：2025-019）。 单位：万元 ■■ ...

关于部分闲置募集资金购买理财产品到期赎回的公告 本公司董事会及全体董事保证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。 公司于 2025 年 4 月 23 日召开了第十届董事会第十七次会议和第 十届监事会第十四次会议，并于 2025 年 5 月 16 日召开了公司 2024 年年度股东大会，审议通过了《关于使用闲置募集资金购买理财产品 的议案》，同意公司使用总额度不超过人民币八亿元的暂时闲置募集 资金进行购买安全性高、流动性好、期限不超过 12 个月（含）的保 本型理财产品（包括但不限于协定性存款、结构性存款、定期存款、 通知存款、大额存单等），并在上述额度内滚动使用，募集资金理财 使用额度及授权的有效期为：自议案经公司 2024 年年度股东大会审 议通过之日起至 2025 年年度股东大会召开之日。 具体内容详见公司在上海证券交易所网站（www.sse.com.cn）披 露的《山东省药用玻璃股份有限公司关于使用闲置募集资金购买理财 产品的公告》（公告编号：2025-019）。 证券代码：600529 证券简称：山东药玻 公告编号：2025-050 ...

近期，国药集团先后宣布收购血液制品行业的领军企业派林生物和药用玻璃行业龙头企业山东药玻，成 为医药行业并购的典型案例。 （文章来源：中国证券报） 国务院国资委9月2日消息，8月27日至30日，国务院国资委与中国科学院联合举办中央企业生物科技产 业高级研修班。国务院国资委副主任谭作钧表示，要围绕服务健康中国建设，加快发展中央企业生物医 药产业，坚持创新驱动发展、长周期发展、差异化发展，通过深度学习、思想碰撞、头脑风暴，更加清 晰研判生物医药产业发展大势，更加精准把握中央企业发展重点方向及实施路径，更加积极推动与中国 科学院院所的产学研用协同创新，加快打造生物医药领域的国家队，推动我国生物医药产业高质量发 展。 今年3月，国务院国资委党委在《民主与法制》周刊发表署名文章称，对于生物医药等产业基础比较薄 弱的领域，鼓励国有企业运用并购重组、股权投资、产业基金等多种方式，加快形成产业影响力。 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [5]. Core Views - The company reported a revenue of 2.374 billion in the first half of 2025, a decrease of 8.2% year-on-year. The net profit attributable to shareholders was 371 million, down 21.9% year-on-year, and the net profit after deducting non-recurring items was 355 million, down 22.0% year-on-year [3][8]. - In Q2, the company achieved a revenue of 1.131 billion, a decline of 14.2% year-on-year, with a net profit of 148 million, down 42.0% year-on-year [3][8]. - The company maintains a stable gross margin of 31.6% in the first half of 2025, despite a slight decrease of 0.7 percentage points year-on-year [8]. Financial Performance - The company’s revenue from packaging products decreased by 10.2% year-on-year, while trade revenue increased by 4.46% [8]. - The gross margin for Q2 was 33.2%, down 0.8 percentage points year-on-year, but still at a relatively high level [8]. - The company’s net profit margin improved to 15.6%, an increase of 2.7 percentage points year-on-year [8]. Dividend Policy - The company proposed a mid-year dividend of 186 million, with a dividend payout ratio of 50.06% [8]. Market Outlook - The demand in the pharmaceutical industry is under pressure, but the penetration rate of borosilicate glass is expected to continue to rise in the medium term [8]. - The company is expected to achieve revenues of 790 million and 900 million in 2025 and 2026, respectively, with corresponding price-to-earnings ratios of 18.8 and 16.5 [8].

Group 1: Key Insights on Luoyang Molybdenum Industry - Luoyang Molybdenum achieved a net profit of 8.671 billion yuan in H1 2025, representing a year-on-year increase of 60.07% [5] - The company's performance exceeded expectations due to production surpassing planned targets across various segments [5] - Prices for copper, cobalt, molybdenum iron, ammonium paratungstate, and monoammonium phosphate all increased during H1 2025 [5] Group 2: Key Insights on Yuntou Holdings - Yuntou Holdings reported revenue of 11.4 billion yuan in H1 2025, a year-on-year growth of 3.59% [5] - The net profit attributable to shareholders was 511 million yuan, up 12.60% year-on-year [5] - In Q2 2025, the company experienced a revenue decline of 5.99% year-on-year, but net profit still grew by 6.94% [5] Group 3: Key Insights on Shandong Pharmaceutical Glass - Shandong Pharmaceutical Glass reported H1 2025 revenue of 2.37 billion yuan, down 8.2% year-on-year [6] - The net profit attributable to shareholders decreased by 21.9% to 370 million yuan [6] - The company plans to distribute a dividend of 0.28 yuan per share, yielding a dividend rate of 1.2% [6] Group 4: Key Insights on TBEA Co., Ltd. - TBEA Co., Ltd. achieved total revenue of 48.401 billion yuan in H1 2025, a year-on-year increase of 1.12% [7] - The net profit attributable to shareholders was 3.184 billion yuan, reflecting a 5.00% increase year-on-year [7] - In Q2 2025, the company reported a slight revenue decrease of 1.03% compared to the previous quarter [7] Group 5: Key Insights on Rongtai Co., Ltd. - Rongtai Co., Ltd. reported total revenue of 1.34 billion yuan in H1 2025, a year-on-year increase of 16.6% [8] - The net profit attributable to shareholders was 98 million yuan, up 13.3% year-on-year [8] - In Q2 2025, the company achieved revenue growth of 6.2% year-on-year [8] Group 6: Key Insights on Shoulv Hotel - Shoulv Hotel reported H1 2025 revenue of 3.661 billion yuan, a decrease of 1.93% year-on-year [9] - The net profit attributable to shareholders increased by 11.08% to 397 million yuan [9] - In Q2 2025, the company experienced a slight revenue growth of 0.42% year-on-year [9] Group 7: Key Insights on Jingxin Pharmaceutical - Jingxin Pharmaceutical reported H1 2025 revenue of 2.017 billion yuan, down 6.20% year-on-year [10] - The net profit attributable to shareholders was 388 million yuan, a decrease of 3.54% [10] - The company’s operating cash flow decreased by 17.48% year-on-year [10]

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证券代码：600529 证券简称：山东药玻 公告编号：2025-049 山东省药用玻璃股份有限公司 关于使用闲置募集资金购买理财产品的进展公告 本公司董事会及全体董事保证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。 重要内容提示： ●委托理财受托方:中国银行股份有限公司 ●委托理财金额：人民币14,280.00万元、13,720.00万元 ●委托理财产品名称：人民币结构性存款CSDVY202511422、人民币结构性存款CSDVY202511421 ●委托理财产品期限：85天、86天 ●履行的审议程序：公司于2025年4月23日召开了第十届董事会第十七次会议和第十届监事会第十四次 会议，并于2025年5月16日召开了公司2024年年度股东大会，审议通过了《关于使用闲置募集资金购买 理财产品的议案》，同意公司使用总额度不超过人民币八亿元的暂时闲置募集资金进行购买安全性高、 流动性好、期限不超过12个月（含）的保本型理财产品（包括但不限于协定性存款、结构性存款、定期 存款、通知存款、大额存单等），并在上述额度内滚动使用，募集资金理财使用额度及授权的有 ...

证券代码：600529 证券简称：山东药玻 公告编号：2025-049 山东省药用玻璃股份有限公司 关于使用闲置募集资金购买理财产品的进展公告 本公司董事会及全体董事保证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。 重要内容提示： ●委托理财受托方:中国银行股份有限公司 ●委托理财金额：人民币 14,280.00 万元、13,720.00 万元 ●委托理财产品名称：人民币结构性存款 CSDVY202511422、人 民币结构性存款 CSDVY202511421 ●委托理财产品期限：85 天、86 天 ●履行的审议程序：公司于 2025 年 4 月 23 日召开了第十届董事 会第十七次会议和第十届监事会第十四次会议，并于 2025 年 5 月 16 日召开了公司 2024 年年度股东大会，审议通过了《关于使用闲置募 集资金购买理财产品的议案》，同意公司使用总额度不超过人民币八 亿元的暂时闲置募集资金进行购买安全性高、流动性好、期限不超过 12 个月（含）的保本型理财产品（包括但不限于协定性存款、结构 性存款、定期存款、通知存款、大额存单等），并在上 ...

2025 年 9 月 1 日 公司研究 出口保持增长，预灌封项目继续推进。 国内需求阶段性承压背景下，公司主动调整经营策略，实现多元化业务布局和精 准市场开拓；得益于模制瓶（注射类）、日化食品瓶国际市场占有率进一步提升， 25H1 出口保持增长；产能方面，一级耐水药用玻璃瓶产能基本达到预期目标， 年产 5.6 亿只预灌封注射器扩产改造项目除一条进口清洗硅化包装线还未到货 外，其余进口设备均已到位，陆续进行调试和验收。 盈利预测、估值与评级：考虑到国内需求阶段性承压，我们下调公司 25-27 年归 母净利润预测为 8.02/9.57/10.42 亿元（下调 22%/16%/17%）。公司为国内药 用玻璃龙头，受益于行业中硼硅模制瓶放量，海外市场发展势头强劲，具备长期 配置价值，维持"买入"评级。 需求阶段承压，出口保持增长 ——山东药玻（600529.SH）2025 年中报点评 要点 事件：山东药玻发布 2025 年中报，25H1 实现营收/归母净利/扣非归母净利 23.7/3.7/3.5 亿元，同比-8.2%/-21.9%/-22.0%；经营性净现金流 3.0 亿元，同 比-49.2%。单 Q2 实现营收/归 ...

Core Viewpoint - Shandong Yaobang (600529) reported a decline in both revenue and net profit for the first half of 2025, marking the first time since 2012 that both metrics have decreased in the interim report [1][2][3] Financial Performance - The company's revenue for the first half of 2025 was approximately 2.374 billion yuan, a year-on-year decrease of 8.20% - The net profit attributable to shareholders was about 371 million yuan, down 21.89% - The net profit after deducting non-recurring gains and losses was around 355 million yuan, a decline of 22.01% - The net cash flow from operating activities was approximately 299 million yuan, down 49.16% [1][2][3] Cost and Expenses - The operating cost for the first half of 2025 decreased to about 1.623 billion yuan - Sales expenses fell by 27.15%, while management expenses increased by 21.02% and R&D expenses rose by 23.22% [5] Dividend and Stock Performance - Despite the decline in performance, the board decided to distribute a cash dividend of 2.80 yuan per 10 shares (including tax), totaling approximately 186 million yuan, which represents 50.06% of the net profit [2][3] - Following the announcement of the interim report, the company's stock price has declined for three consecutive trading days [2] Strategic Initiatives - The company emphasized a strategy of "laying the foundation" in response to complex international political and economic conditions, insufficient domestic demand, and increasing competition [3] - Shandong Yaobang has completed its second phase of lean production and is focusing on automating packaging processes for daily chemical bottles [5] Export Performance - The company experienced growth in exports during the first half of 2025, particularly in molded bottles for injections and daily chemical products, benefiting from improved market share and product quality [7] Shareholder Changes - Shandong Yaobang announced a temporary shareholders' meeting to discuss various proposals, including the cancellation of the supervisory board [7] - The company is undergoing a potential restructuring involving its controlling shareholder, Luzhong Investment, which is set to receive a significant capital increase from China National Pharmaceutical Group [10][12]