Summary of Conference Call Company Overview - The conference call discusses the financial results of Shandong Yaobo for the year 2023 and the first quarter of 2024 [1] Key Financial Metrics - Total revenue for 2023 reached 4.98 billion, representing a year-on-year growth of approximately 19% [1] - Net profit for 2023 was 776 million, showing a year-on-year increase of 25.5% [1] Additional Important Points - The call was hosted by analyst Lin Xiaolong, indicating a structured approach to financial communication [1]

Investment Rating - The investment rating for the company is "Accumulate" [1][2] - The target price is set at 33.84, up from the previous forecast of 32.65 [1][2] Core Views - The company has shown strong revenue growth driven by high demand for molded bottles, with a reported revenue of 4.982 billion, an increase of 18.98% year-on-year [1][2] - The gross profit margin reached a new high, supported by a decrease in raw material costs, particularly soda ash [1][2] - The net profit attributable to shareholders was 776 million, reflecting a year-on-year increase of 25.48% [1][2] Financial Performance Summary - Revenue for 2023 was 4.982 billion, with a year-on-year growth of 18.98% [1][2] - The company achieved a net profit of 776 million, up 25.48% year-on-year [1][2] - Earnings per share (EPS) for 2023 is reported at 0.93, with projections of 1.17 for 2024 and 1.51 for 2025 [1][2] Product Performance - The demand for molded bottles continues to grow, with expected shipments of 5-6 billion units in Q1 2024, a year-on-year increase of 60-70% [1][2] - The company’s product mix has improved, with a higher proportion of high-margin molded bottles contributing to the overall profitability [1][2] Market Position - The company maintains a strong market position with stable revenue growth in its core glass bottle business [1][2] - The competitive landscape for molded bottles remains challenging for new entrants due to certification and cost barriers [1][2]

公司报告 | 年报点评报告 山东药玻（600529） 证券研究报告 2024年04月 23日 投资评级 中硼硅产业趋势+拓品类共振，原燃料价格回落带动盈利修复 行业 医药生物/医疗器械 6个月评级 买入（维持评级） 当前价格 30.94元 公司23年归母净利润7.76亿元，同比提升 25.48% 公司发布 23 年年报及 24 年一季报，23 年全年实现收入/归母净利润 目标价格 38.01元 49.82/7.76亿元，同比+18.98%/+25.48%，全年实现扣非归母净利润7.42亿 元，同比+23.07%。其中Q4 单季度实现收入/归母净利润13.08/1.62亿元， 基本数据 同比+9.16%/+30.84%，扣非归母净利润1.51亿元，同比+24.69%。24Q1实 A股总股本(百万股) 663.61 现收入/归母净利润12.67/2.21亿元，同比+2.50%/+32.59%，扣非归母净利 流通A股股本(百万股) 663.61 润2.10亿元，同比+36.14%。 A股总市值(百万元) 20,532.22 收入增长强劲，中硼硅产业趋势/拓品类共振，看好持续性 流通A股市值(百万元) 20,532. ...

证券研究报告 公 2024年04月23日 司 报 告 山东药玻(600529) │ 行 业： 医药生物/医疗器械 公 投资评级： 买入（维持） 司 当前价格： 27.85元 年 激励费用等有一定扰动，重视强劲的增长动能 目标价格： 38.43元 报 点 公司披露23年年报及24年一季报，23FY收入49.8亿，yoy+19%，归母净 评 基本数据 利 7.8 亿，yoy+25%，扣非归母净利 7.4 亿，yoy+23%；单 23Q4 收入 13.1 总股本/流通股本(百万股) 663.61/663.61 亿，yoy+9%，qoq+5%，归母净利 1.6 亿，yoy+31%，qoq-29%，扣非归母净 流通A股市值(百万元) 18,481.65 利1.5亿，yoy+25%，qoq-33%。24Q1收入12.7亿，yoy+3%，qoq-3%，归母 净利2.2亿，yoy+33%，qoq+37%，扣非归母净利2.1亿，yoy+36%，qoq+39.1%。 每股净资产(元) 11.69 24Q1业绩延续高增，收入环比小幅承压，或因非核心业务收入波动扰动。 资产负债率(%) 19.12 ➢ 23年药用玻璃主要产品收入均高 ...

Investment Rating - The report maintains a "Recommended" rating for the company [2][3]. Core Insights - The company reported a revenue of 4.982 billion yuan in 2023, representing a year-on-year increase of 18.98%. The net profit attributable to shareholders was 776 million yuan, up 25.48% year-on-year [2]. - The core products, molded bottles and brown bottles, experienced rapid growth, with molded bottle sales reaching 375,900 tons, a year-on-year increase of 23.65%, and revenue of 2.264 billion yuan, up 29.36% [2]. - The company has a strong cash flow, with a net operating cash flow of 1.048 billion yuan in 2023, a significant increase of 315.14% year-on-year [2]. - The demand for borosilicate molded bottles is high, and overseas sales contributed significantly, with overseas revenue reaching 1.36 billion yuan, a year-on-year increase of 26.44% [2]. - Cost control measures and the decline in soda ash prices are expected to improve profitability in 2024, with soda ash prices dropping significantly [2]. Financial Performance Summary - In 2023, the company achieved a gross margin of 28.03%, up 1.19 percentage points year-on-year, and a net profit margin of 15.57%, up 0.8 percentage points [2]. - The forecasted revenues for 2024-2026 are 5.621 billion, 6.513 billion, and 7.201 billion yuan, respectively, with net profits of 1.051 billion, 1.211 billion, and 1.392 billion yuan [3][6]. - The company’s PE ratios for 2024-2026 are projected to be 24, 18, and 15, respectively, indicating a favorable valuation trend [3][6].

证券代码：600529 证券简称：山东药玻 公告编号：2024-034 山东省药用玻璃股份有限公司 关于召开 2023 年度暨 2024 年第一季度业绩说明会的 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： 会议召开时间：2024 年 05 月 23 日(星期四) 上午 10:00-11:00 会议召开地点：上海证券交易所上证路演中心（网址： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 总经理：张军先生 董事会秘书：赵海宝先生 投资者可于 2024 年 05 月 16 日(星期四) 至 05 月 22 日(星期 三)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或 通过公司邮箱 sdyb@pharmglass.com 进行提问。公司将在说明会上对 投资者普遍关注的问题进行回答。 山东省药用玻璃股份有限公司（以下简称"公司"）已于 2024 年 4 月 23 日发布公司 2023 年度报告，为便于广大投资者更全面深入地 了解公司 2023 ...

Financial Performance - The company's operating revenue for 2023 reached ¥4,982,198,167.78, an increase of 18.98% compared to ¥4,187,279,279.75 in 2022[18] - The net profit attributable to shareholders for 2023 was ¥775,802,014.62, reflecting a growth of 25.48% from ¥618,287,086.47 in the previous year[18] - The net cash flow from operating activities surged to ¥1,047,982,969.39, marking a significant increase of 315.14% compared to ¥252,442,324.58 in 2022[18] - The total assets of the company at the end of 2023 amounted to ¥9,318,721,550.84, which is a 6.08% increase from ¥8,784,252,529.93 in 2022[18] - The net assets attributable to shareholders increased to ¥7,534,508,778.17, up by 8.23% from ¥6,961,679,480.13 at the end of 2022[18] - Basic earnings per share for 2023 were reported at ¥1.17, a rise of 13.59% from ¥1.03 in 2022[19] - The weighted average return on equity for 2023 was 10.73%, down from 12.28% in 2022, indicating a decrease of 1.55%[19] Cash Flow and Investments - The total amount of non-recurring gains and losses for 2023 was approximately RMB 34.29 million, significantly higher than the previous year's RMB 15.79 million[22] - The company maintained a strong cash flow from operating activities, with a net cash flow of approximately RMB 1.27 billion for the year[20] - Investment cash flow net increased by 49.97% year-on-year, mainly due to the maturity of bank wealth management products and increased cash recovered from investments[68] - The company's income tax expense rose by 50.42% compared to the previous year, attributed to overall profit growth and increased tax burdens from subsidiaries[70] Product Development and Innovation - The company developed 591 new products in 2023, which is 1.7 times the number from the previous year, with 510 designs confirmed and 265 samples approved, marking the best performance in history[29] - The company applied for 48 patents in 2023, receiving authorization for 34, including 4 invention patents, enhancing its intellectual property portfolio[29] - The company is committed to product innovation and quality upgrades to meet the growing demands of the biopharmaceutical industry, particularly in pre-filled products[86] Market and Sales Performance - The company achieved a 10-30% increase in sales for its main products, including molded series products and brown bottles, contributing to a strong performance in both domestic and international markets[26] - The company is actively expanding its international market presence through its foreign trade department and agency partnerships[52] - The company primarily serves pharmaceutical manufacturers, leveraging brand and price advantages through a combination of direct sales and distribution channels[52] Cost Management and Efficiency - The company implemented cost control measures that resulted in a 4.95% average reduction in production costs compared to the beginning of the year, alongside a 36.01% improvement in changeover efficiency in benchmark workshops[28] - The company emphasizes lean production and automation upgrades to improve profitability and market share across various product lines, including molded bottles and aluminum-plastic caps[86] Corporate Governance and Compliance - The company has established a robust corporate governance structure, ensuring clear responsibilities among shareholders, the board, and management, in compliance with regulatory requirements[93] - The company has not reported any significant risks or non-compliance issues in its operations[6] - The company has maintained a stable board composition, with directors serving terms from May 17, 2022, to May 16, 2025[98] Environmental and Social Responsibility - The company invested 39 million yuan in environmental protection during the reporting period[129] - The company has committed to a six-month lock-up period for shares related to its non-public offering, which began on November 24, 2022[142] - The company has established a comprehensive risk management system to enhance financial data analysis and fund usage supervision[127] Shareholder Information - The total number of ordinary shareholders increased to 57,666 from 53,184 in the previous month, representing a growth of approximately 8.5%[180] - The top shareholder, Shandong Luzhong Investment Co., Ltd., holds 129,380,980 shares, accounting for 19.50% of total shares, with 64,220,000 shares pledged[182] - The report indicates that the company has not issued any new securities during the reporting period[180]

·计师事务所（转张善通合伙） Centified Public Accountants (Shecial Shocial Partnership) 山东省药用玻璃股份有限公司 募集资金存放与使用情况的鉴证报告 上会师报字(2024)第 4467 号 上会会计师事务所（特殊普通合伙） 中国 上海 关于山东省药用玻璃股份有限公司 2023 年度募集资金存放与使用情况的鉴证报告 上会师报字(2024)第 4467 号 山东省药用玻璃股份有限公司全体股东: 我们接受委托,对后附的山东省药用玻璃股份有限公司(以下简称"山东药玻公 司")《关于 2023 年度募集资金存放与使用情况的专项报告》(以下简称"募集资金 专项报告")执行了鉴证工作。 一、管理层对募集资金专项报告的责任 按照中国证监会发布的《上市公司监管指引第 2 号一上市公司募集资金管理和 使用的监管要求(2022年修订)》(证监会公告(2022)15 号) 和上海证券交易所发 布的《上海证券交易所上市公司自律监管指引第1号-规范运作(2023年12月修订)》 （上证发〔2023〕193 号）的规定编制《关于 2023 年度募集资金存放与使用情况的专 项报告》 ...

证券代码：600529 证券简称：山东药玻 编号：2024-024 山东省药用玻璃股份有限公司 第十届监事会第十次会议决议公告 本公司监事会及全体监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。 第一部分、监事会会议召开情况 山东省药用玻璃股份有限公司第十届监事会第十次会议通知，于 2024年4月8日以书面方式向全体监事发出，会议于2024年4月20日上 午9:00在公司研发大楼六楼会议室召开，应到监事3名，现场实到监 事3名，公司董事会秘书列席会议，会议由公司监事会主席王发利先 生召集并主持，符合《公司法》和《公司章程》的有关规定。 第二部分、监事会会议审议情况 本次会议由监事会主席王发利先生主持，以记名投票方式审议通 过了以下议案： 审议通过了本议案，具体内容详见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2023年度 监事会工作报告》。 赞成票：3票，反对票：0票，弃权票：0票。 本议案尚需提交公司2023年年度股东大会审议。 二、公司2023年年度报告及摘要 1 审议通过了本议案，具体内容详 ...

山东省药用玻璃股份有限公司 独立董事 2023 年度述职报告（葛承全） 作为山东省药用玻璃股份有限公司（以下简称"山东药玻"或 "公司"）的独立董事，本人在 2023 年度严格按照《公司法》、《证 券法》、《上市公司治理准则》、《上市公司独立董事管理办法》、《上 海证券交易所股票上市规则》、《上海证券交易所上市公司自律监管 指引第 1 号——规范运作》和《公司章程》、《公司独立董事管理办 法》等相关规定，忠实、勤勉地履行了独立董事的职责，谨慎、认 真、恰当地行使了独立董事的职权，积极出席相关会议，及时了解 公司生产经营情况，对重大事项发表独立、客观的意见，切实维护 公司及全体股东的合法权益。现将本人 2023 年度担任独立董事的履 职情况报告如下： 一、基本情况 葛承全，男，1960 年 3 月出生，本科学历，1982 年毕业于合肥 工业大学，历任蚌埠玻璃工业设计研究院工程师、项目经理、副总 工程师，中国建材国际工程集团有限公司总工程师、副总裁，山东 药玻独立董事。现已退休，2023 年 12 月 27 日离任山东药玻独立董 事。报告期内任职期间未持有山东药玻股份。 报告期内作为公司独立董事，本人未在公司担任 ...