网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实、准确和完整承担个别及连带责任。 为进一步加强与投资者的互动交流，山东省药用玻璃股份有限公司（以 下简称"公司"）将参加由山东证监局、山东上市公司协会与深圳市全景网 络有限公司联合举办的"2025 年山东辖区上市公司投资者网上集体接待日 活动"，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网 站（http://rs.p5w.net）；或关注微信公众号（名称：全景财经）；或下载 全景路演 APP,参与本次互动交流。活动时间为 2025 年 5 月 15 日（周四） 15:00-16:30。届时公司董秘、财务负责人将在线就公司 2024 年度业绩、 公司治理、发展战略、经营状况、融资计划、股权激励和可持续发展等投 资者关心的问题，与投资者进行沟通与交流，欢迎广大投资者踊跃参与！ 证券代码：600529 证券简称：山东药玻 编号：2025-029 山东省药用玻璃股份有限公司 关于参加 2025 年山东辖区上市公司投资者 2025 年 5 月 ...

山东省药用玻璃股份有限公司 关于控股股东部分股份质押的公告 证券代码：600529 证券简称：山东药玻 编号：2025-028 1、本次股份质押基本情况 2、本次被质押股份不存在被用作重大资产重组业绩补偿等事项的担保 或用于其他保障用途。 1 3.股东累计质押股份情况 截至本公告披露日，鲁中投资累计质押股份情况如下： 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实、准确和完整承担个别及连带责任。 重要内容提示: ●山东鲁中投资有限责任公司（以下简称"鲁中投资"）持有山东省 药用玻璃股份有限公司（以下简称"本公司"、"公司"）股份数量 129,380,980 股（无限售流通股），占公司股份总数的 19.50%，为本公司 控股股东。 ●截至公告披露日，鲁中投资累计质押 58,180,000 股股份，占本公司 总股本的 8.77%,占其所持本公司股份总数的 44.97%。 2025年5月12日公司收到鲁中投资转来的《中国证券登记结算有限责任 公司证券质押登记证明》，获悉其所持有本公司的部分股份办理了质押， 具体事项如下： | 股东名 | 是否为 | ...

Core Viewpoint - The company reported a slight increase in revenue for 2024, but faced challenges in Q1 2025 with a decline in revenue compared to the previous year, indicating a potential slowdown in growth due to external factors [1][2]. Financial Performance - In 2024, the company achieved revenue of 5.13 billion, a year-on-year increase of 2.9%, and a net profit attributable to shareholders of 0.94 billion, up 21.6% year-on-year [1] - For Q4 2024, revenue was 1.30 billion, a slight decrease of 0.6% year-on-year, while net profit rose by 37.8% to 0.22 billion [1] - In Q1 2025, revenue was 1.24 billion, down 2.0% year-on-year, with net profit increasing by 1.3% to 0.22 billion [1] Product Performance - Revenue growth for key products in 2024 included molded bottles (+3.9%), brown bottles (+3.5%), and controlled bottles (+5.0%), while some products like ampoules (-6.0%) and aluminum-plastic bottles (-0.6%) faced declines [2] - The company’s main product, molded bottles, maintained growth due to the upgrade of first-class bottles, and overseas markets showed good expansion [2] Profitability - The gross profit margins for various products in 2024 were as follows: molded bottles (43.3%), brown bottles (28.4%), controlled bottles (-4.9%), ampoules (10.5%), butyl rubber stoppers (35.5%), and aluminum-plastic bottles (36.5%) [3] - The overall gross margin for the company in Q1 2025 was 30.2%, indicating a slight decline due to seasonal factors and energy costs [3] Cash Flow and Dividends - The company maintained a good level of cash flow, with net cash from operating activities of 1.05 billion in 2024 and 0.09 billion in Q1 2025 [4] - The dividend payout for 2024 reached 0.41 billion, with a payout ratio of 43.6%, marking a historical high for the company [4] Future Outlook - The company slightly adjusted its revenue forecasts for 2025-2027, now expecting revenues of 5.45 billion, 5.67 billion, and 5.88 billion respectively, reflecting a cautious outlook due to slowing demand growth [4] - The company remains a leader in molded bottles and is expected to benefit from product upgrades and cost reductions, indicating potential for stable growth in the medium to long term [4]

Market Performance - The Shanghai Composite Index and Shenzhen Component Index experienced declines of 0.30% and 0.69% respectively on May 5, 2025, while the ChiNext Index and STAR Market 50 fell by 0.87% and 1.96% respectively [1] - Among 33 A-share companies in Zibo, 30 saw an increase, 1 remained flat, and 2 declined during the same period [1] Notable Stock Movements - Weiming Pharmaceutical (002581) achieved a remarkable 23.29% increase over five days, leading the gains [1] - Yahua Electronics (301337) and Jincheng Pharmaceutical (300233) also saw significant increases of 17.30% and 11.31% respectively [1] - On May 7, PEEK material concept stocks surged, with Zhongxin Fluorine Materials (002915) hitting the daily limit for the sixth time in nine days, and Kaisheng New Materials (301069) rising by 2.29% with a trading volume of 4.02 billion yuan [1] Company Announcements - Kehui Co., Ltd. announced a share repurchase plan with a budget between 9 million and 16 million yuan, with a maximum repurchase price of 17 yuan per share, aimed at employee stock ownership plans [1] Financial Results - Furuida (600223) reported a revenue of 526 million yuan in its cosmetics segment for Q1 2025, with a gross margin of 61.06% [3] - Qichang Tenda (002408) achieved total revenue of 5.618 billion yuan in Q1 2025, a year-on-year increase of 2.53%, but saw a significant drop in net profit by 83.18% to 5.4007 million yuan [3] - Xinhua Medical (600587) reported a total revenue of 2.308 billion yuan, down 8.74% year-on-year, with a net profit decline of 23.97% to 160 million yuan [3] - Bohui Paper (600966) reported a total revenue of 4.564 billion yuan, a 3.77% increase year-on-year, but a net profit decline of 46.91% to 53.3737 million yuan [3] Market Capitalization - In terms of market capitalization, Yingke Medical (300677) led with 14.708 billion yuan, followed closely by Shandong Pharmaceutical Glass (600529) at 14.626 billion yuan, and Qichang Tenda (002408) at 12.963 billion yuan [4]

Core Viewpoint - The pharmaceutical packaging industry in China is experiencing steady growth, with the market size expected to reach 143.96 billion yuan in 2024, driven by the expansion of the domestic pharmaceutical market and increasing demand for medicines due to aging population and improved healthcare systems [1][11]. Industry Definition and Classification - Pharmaceutical packaging refers to a range of materials and containers used to protect medicines, facilitate storage and transportation, promote sales, provide drug information, and ensure medication safety [2]. Industry Chain Analysis - The pharmaceutical packaging industry chain includes multiple sectors: raw material supply, packaging material manufacturing, drug packaging and application, and auxiliary services. The upstream involves the supply of materials like plastics, glass, metals, and paper, which are crucial for the manufacturing of packaging materials [3]. Industry Development History - The development of the pharmaceutical packaging industry in China has gone through three stages: initial development, rapid expansion, and transformation and innovation. The industry has evolved from relying on imports to adopting advanced technologies and focusing on brand building and market expansion [6]. Current Industry Status - China is the world's largest producer of plastic products, with a production volume of 77.08 million tons in 2024. The availability and pricing of plastic products directly impact the pharmaceutical packaging industry [9][11]. Market Structure - The market structure of the pharmaceutical packaging industry is diverse, with plastic packaging holding a 48% share, followed by glass packaging at 28%, metal packaging at 11%, and rubber packaging at 7% [12]. Key Enterprises Analysis - The competitive landscape of the pharmaceutical packaging industry is diverse and intense. Key players include Shandong Pharmaceutical Glass, Zhengchuan Co., Hualan Co., Haishun New Materials, and Huqiang Technology, each with unique strengths and market positions [15][18][20]. Future Development Trends - The industry is moving towards high-end and high-performance packaging materials, focusing on new technologies and innovative designs to meet the demands of high-end pharmaceuticals [22]. - Green and environmentally friendly packaging is becoming a significant trend, with companies seeking biodegradable and recyclable materials to reduce environmental impact [23]. - The industry is also undergoing consolidation and internationalization, with companies optimizing resources and expanding into international markets to enhance competitiveness [24].

Core Insights - The company achieved revenue, net profit attributable to shareholders, and net profit excluding non-recurring items of 5.13 billion, 940 million, and 900 million yuan respectively in 2024, with year-on-year growth of +2.9%, +21.6%, and +21.9% [1] - In Q4 2024, the company reported revenue, net profit attributable to shareholders, and net profit excluding non-recurring items of 1.30 billion, 220 million, and 210 million yuan respectively, with year-on-year changes of -0.6%, +37.8%, and +41.9% [1] - For Q1 2025, the company recorded revenue, net profit attributable to shareholders, and net profit excluding non-recurring items of 1.24 billion, 220 million, and 210 million yuan respectively, with year-on-year changes of -2.0%, +1.3%, and +1.8%, meeting market expectations [1] Product Performance - The main products, including molded bottles, brown bottles, and butyl rubber stoppers, demonstrated resilience in both volume and price, leading to improved overall profitability [2] - Molded bottles sold 375,000 tons (down 0.4%) with revenue of 2.35 billion yuan (up 3.9%) and a gross margin increase of 4.1 percentage points to 43.3% [2] - Brown bottles sold 286,000 tons (up 4.8%) with revenue of 1.16 billion yuan (up 3.5%) and a gross margin increase of 4.6 percentage points to 28.4% [2] - Butyl rubber stoppers sold 6.22 billion pieces (up 15.4%) with revenue of 290 million yuan (up 11.9%) and a gross margin increase of 10.9 percentage points to 35.5% [2] - The company's overseas revenue reached 1.47 billion yuan (up 8.5%) with a gross margin of 31.5% [2] Profitability and Financial Health - The company's sales gross margin was 31.7%, an increase of 3.7 percentage points year-on-year, while the net profit margin was 18.4%, up 2.8 percentage points [3] - The company maintained a healthy cash flow with a cash collection ratio of 99.1% (up 4.6 percentage points) and a net cash ratio of 123.5% [3] - The proposed cash dividend for the year is 411 million yuan, with a dividend payout ratio of 43.63%, reflecting a 9.41 percentage point increase [3] Market Outlook - The company is expected to benefit from the upcoming tenth batch of national procurement, which will accelerate the penetration of borosilicate packaging materials in the market [4] - The company is positioned as an industry leader, leveraging its scale, cost advantages, and established customer relationships to capitalize on market growth [4] - Revenue projections for 2025-2027 are 5.575 billion, 6.168 billion, and 6.725 billion yuan respectively, with corresponding net profits of 1.042 billion, 1.186 billion, and 1.315 billion yuan [4]

Core Viewpoint - The company announced its performance for 2024 and Q1 2025, showing a modest revenue growth and significant improvement in profitability metrics, while also planning a substantial cash dividend for shareholders [1][4]. Revenue Performance - In 2024, the company's revenue is projected to be 51.3 billion, with a year-over-year (yoy) growth of 3%. For Q1 2025, revenue is expected to be 12.4 billion, reflecting a yoy decline of 2% [1]. - The revenue growth across various business segments in 2024 shows mixed results, with some segments like molded bottles and trade business experiencing growth, while others like ampoules and plastic bottles faced declines [2]. Profitability Improvement - The company's overall gross margin improved by 3.7 percentage points yoy to 31.7% in 2024, with specific segments like molded bottles and rubber stoppers showing notable improvements [3]. - The net profit margin for 2024 is expected to increase by 2.8 percentage points yoy to 18.4%, indicating a positive trend in profitability [3]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 4.1 billion for 2024, which represents a yoy increase of 55%, with a dividend payout ratio rising to 43.6% [1][4]. - The current share price corresponds to a price-to-earnings (PE) ratio of 14.6x for 2025, which is considered to be at a historically low valuation level [4]. Growth Outlook - Despite current demand pressures, the company is expected to achieve revenue growth of 6% to 11% from 2025 to 2027, with net profit also projected to grow at a similar rate [4]. - The company maintains a strong position in the molded bottle market, with resilient demand expected for pharmaceutical glass products, and is actively improving its product mix and expanding into overseas markets [4].

Investment Rating - The report maintains a "Buy" rating for Shandong Pharmaceutical Glass [5] Core Views - The company achieved revenue of 5.13 billion and net profit of 943 million in 2024, with year-on-year growth of 2.87% and 21.6% respectively [1] - The company is a leader in the domestic pharmaceutical glass market, with strong growth in overseas markets and a consistent increase in market share for its main products [3][2] - The gross margin improved to 31.7% in 2024, driven by better margins in molded bottles and other products [2] Summary by Sections Financial Performance - In 2024, Shandong Pharmaceutical Glass reported revenue of 5.13 billion, net profit of 943 million, and a net cash flow from operating activities of 1.17 billion, reflecting a year-on-year increase of 11.2% [1] - For Q1 2025, the company recorded revenue of 1.24 billion, with a slight decline of 2.0% year-on-year, while net profit increased by 1.3% to 220 million [1][3] Revenue Breakdown - In 2024, revenue from molded bottles, brown bottles, butyl rubber stoppers, and controlled bottles was 2.35 billion, 1.16 billion, 290 million, and 210 million respectively, with year-on-year growth rates of 3.9%, 3.5%, 11.9%, and 5.0% [2] - Domestic revenue was 3.59 billion, up 0.5%, while international revenue reached 1.47 billion, growing by 8.3% [2] Profitability Metrics - The gross margin for 2024 was 31.7%, an increase of 3.7 percentage points year-on-year, with a final net profit margin of 18.4%, up 2.8 percentage points [2] - For Q1 2025, the gross margin was 30.2%, a slight decrease of 0.4 percentage points year-on-year, with a net profit margin of 18.0%, an increase of 0.6 percentage points [3] Earnings Forecast - The report forecasts net profits of 1.03 billion for 2025 and 1.14 billion for 2026, with growth rates of 9.5% and 10.0% respectively [4] - The estimated EPS for 2025 is 1.56, with a projected P/E ratio of 14 [4][11] Valuation Metrics - The report provides a P/E ratio forecast decreasing from 19 in 2023 to 12 in 2027, indicating a potential increase in valuation attractiveness over time [4][11] - The projected dividend per share for 2024 is 0.32, corresponding to a dividend yield of 1.4% [1][11]

关于控股股东部分股份解除质押的公告 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。 重要内容提示: 证券代码：600529 证券简称：山东药玻 编号：2025-027 山东省药用玻璃股份有限公司 1、山东省药用玻璃股份有限公司（以下简称"公司"）控股股东山东 鲁中投资有限责任公司（以下简称"鲁中投资"）持有公司股份总数为 129,380,980 股（无限售流通股），占公司总股本比例为 19.50%。 2、本次解除质押后，鲁中投资持有公司股份累计质押数量为 51,180,000 股，占其持股数量的比例为 39.56%，占公司总股本比例为 7.71%。 特此公告。 山东省药用玻璃股份有限公司 董事会 公司于 2025 年 4 月 30 日收到鲁中投资转来的关于公司控股股东山东 鲁中投资有限责任公司股权解除质押的基本情况，获悉其将所持有的本公 司部分股份办理了解除质押。本次解除质押股份为 2024 年 4 月 19 日质押 给渤海银行股份有限公司淄博分行的 7,000,000 股； 具体事项如下： | 股东名称 | 山东鲁中投 ...

山东省药用玻璃股份有限公司 2024 年年度股东大会会议资料 证券代码：600529 证券简称：山东药玻 山东省药用玻璃股份有限公司 2024 年年度股东大会 会议资料 2025 年 5 月 16 日 1 山东省药用玻璃股份有限公司 2024 年年度股东大会会议资料 山东省药用玻璃股份有限公司 会议须知 7、宣读现场会议表决结果。 1 根据《公司法》和《上市公司股东大会议事规则》的有关规定，为保证公司 股东依法行使股东权利，本次股东大会将采取现场会议和网络投票方式表决， 股东投票前请阅读本须知。 一、出席现场会议的股东需注意事项 1、现场会议由公司董事会召集召开，由董事长主持。董事会有义务维护股 东合法权益，确保会议的正常秩序和议事效率。 2、股东及股东代表请按时有序进入指定会场，到场签名。 3、股东参加股东大会，依法享有发言权、表决权等权利，请认真履行法定 义务，自觉遵守大会秩序，不得侵犯其他股东的权益。 4、现场工作人员有权对不符合大会要求的入场人员进行处理。 5、本次股东大会现场会议采取记名投票方式进行表决，特请各位股东及其 股东代表或其委托代理人准确填写表决票：必须填写股东姓名或委托股东姓名， 同意请 ...