证券代码：600535 证券简称：天士力 编号：临 2024-019 号 天士力医药集团股份有限公司 关于公司 2024 年第一季度主要经营数据的公告 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个别及连带责任。 根据上海证券交易所《上市公司行业信息披露指引第六号——医药制造》及 《关于做好主板上市公司 2024 年第一季度报告披露工作的重要提醒》的要求，现 将公司 2024 年第一季度主要经营数据披露如下： 1 增长 率 | | | | | 单位：元 | 币种：人民币 | | | --- | --- | --- | --- | --- | --- | --- | | 分产品 | 营业收入 | 营业成本 | 毛利率 | 营业收入比 | 营业成本比 | 毛利率比上 | | | | | （%） | 上年增减 | 上年增减 | 年增减（%） | | | | | | （%） | （%） | | | 中药 | 1,441,332,920.10 | 412,658,395.05 | 71.37 | 3.83 | 5.30 | -0.40 | | ...

Financial Performance - The company's operating revenue for Q1 2024 was ¥2,048,654,962.31, a decrease of 1.73% compared to ¥2,084,691,377.59 in the same period last year[4] - Net profit attributable to shareholders was ¥295,211,183.76, representing an increase of 11.58% from ¥264,585,229.90 in the previous year[4] - Basic and diluted earnings per share were both ¥0.1976, an increase of 11.38% from ¥0.1774 in the same period last year[4] - Net profit for Q1 2024 increased to ¥293,013,054.52, compared to ¥261,158,964.31 in Q1 2023, representing an increase of 12.2%[20] - Basic earnings per share for Q1 2024 were ¥0.20, up from ¥0.18 in Q1 2023[21] - The company reported a significant increase in trading financial assets, which rose to RMB 498,606,338.55 from RMB 300,708,218.67, a growth of approximately 65.73%[15] - The company reported a decrease in financial expenses to ¥5,656,853.71 in Q1 2024 from ¥12,157,606.56 in Q1 2023, a reduction of 53.4%[19] - The company reported a decrease in financial expenses to CNY 4,655,586.64 in Q1 2024 from CNY 13,534,129.17 in Q1 2023, a reduction of 65.5%[27] Cash Flow - The net cash flow from operating activities decreased by 324.05% to -¥336,905,188.62, primarily due to lower bank acceptance bill discounting compared to the previous year[5][8] - In Q1 2024, the company's operating cash flow was negative at -336,905,188.62 RMB, a significant decline from a positive cash flow of 150,368,792.36 RMB in Q1 2023, representing a year-over-year decrease of approximately 323%[22] - The company's cash flow from operating activities was significantly impacted by a decrease in cash received from sales, which fell to 1,717,064,069.66 RMB in Q1 2024 from 2,210,538,354.66 RMB in Q1 2023, a decline of approximately 22.3%[22] - The company’s cash outflow for operating activities totaled 2,142,923,042.37 RMB in Q1 2024, slightly lower than 2,223,581,816.00 RMB in Q1 2023, indicating a decrease of about 3.6%[22] - The net cash flow from operating activities was CNY 92,804,888.71 in Q1 2024, a significant improvement from a negative CNY 483,016,944.40 in Q1 2023[29] - The company reported a net cash flow from financing activities of 687,058,089.28 RMB in Q1 2024, compared to 812,670,883.86 RMB in Q1 2023, reflecting a decrease of approximately 15.5%[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥17,517,009,897.52, reflecting a growth of 4.80% from the previous year-end[5] - The equity attributable to shareholders increased by 2.35% to ¥12,658,472,826.96 compared to the previous year-end[5] - The total liabilities as of Q1 2024 were ¥4,539,560,933.20, an increase of 12.8% from ¥4,024,276,030.89 in Q1 2023[19] - The total liabilities decreased slightly to CNY 3,804,468,252.85 in Q1 2024 from CNY 3,827,284,631.95 in Q1 2023[26] - The total assets reached RMB 17,517,009,897.52, up from RMB 16,714,285,093.86, marking an increase of approximately 4.80%[16] - The total non-current assets as of March 31, 2024, were RMB 7,943,170,156.83, slightly down from RMB 7,981,604,197.93, indicating a decrease of about 0.48%[16] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 60,711[9] - The largest shareholder, Tasly Holding Group Co., Ltd., held 45.75% of the shares, totaling 683,481,524 shares[9] - The company completed the cancellation of 5,750,125 shares originally intended for an employee stock incentive plan, reducing registered capital[14] Research and Development - Research and development expenses for Q1 2024 were ¥199,383,930.36, an increase of 20.4% from ¥165,566,473.21 in Q1 2023[19] - Research and development expenses increased to CNY 123,558,982.19 in Q1 2024, compared to CNY 93,249,352.35 in Q1 2023, marking a rise of 32.5%[27]

[Table_MainInfo] 公司研究/医药与健康护理/中药 证券研究报告 天士力（600535）公司年报点评 2024年04月25日 [Table_InvestInfo] 投资评级 优于大市 维持 业绩增长稳健，创新研发管线亮点颇多 股票数据 [Table_Summary] 0[4Ta月b2le4_日S收to盘ck价（In元fo）] 14.90 投资要点： 52周股价波动（元） 12.88-18.00 总股本/流通A股（百万股） 1494/1494  事件：公司发布2023年年报，实现营业收入86.74亿元（+0.42%），归母净 总市值/流通市值（百万元） 22738/22738 利润10.71亿元（+505.34%），扣非归母净利润11.81亿元（+60.11%），扣 相关研究 非净利润快速增长，主要系收入增长带来利润增加，以及计提的资产减值损 [《Ta中b药le板_R块e引p领or增tIn长fo，] 创新研发持续推进》 失较上年同期减少所致。分季度来看，单 Q4 实现营业收入 21.02 亿元 2023.09.19 （-16.04%），归母净利润 3864.26 万元（-51.62%），扣非归母 ...

2023 年年度股东大会会议资料 天士力医药集团股份有限公司 2023 年年度股东大会会议资料 2024 年 5 月 8 日 2023 年年度股东大会会议资料 天士力医药集团股份有限公司 2023 年年度股东大会议程 一、会议时间： 现场会议召开时间：2024 年 5 月 8 日 14 点 30 分 网络投票系统及投票时间： 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2024 年 5 月 8 日 至 2024 年 5 月 8 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股东大会 召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过互联网投票平台的 投票时间为股东大会召开当日的 9:15-15:00。 二、会议地点：天津市北辰科技园区天士力现代中药城天士力医药集团股份有限公司会 议室 三、会议主持人：董事长闫凯境 四、会议议程： （一）宣布会议正式开始 （二）宣布大会出席情况和事项的表决方法 （三）推举表决票清点人、监票人、结果宣布人 （四）宣读议案并请股东针对议案发表意见 | 序号 | 议案名称 | | --- ...

[Table_Title] 业绩符合预期，中药创新药有望进入收获期 [ 天Ta 士bl 力e_ (R 6e 0p 0o 5r 3tD 5a )公te] 司 简评报告 | 2024.04.22 [评Ta级ble：_R a买nk]入 核心观点 [ Table_Authors] [⚫T abl事e_件Su：m公m司ary发] 布2023年年报，2023年实现营业收入86.74亿元（+0.42%）， 王斌 归属于上市公司股东的净利润 10.71 亿元（+505.34%），扣非后归母净 首席分析师 利润11.81亿元（+60.11%）。 SAC执证编号：S0110522030002 wangbin3@sczq.com.cn 电话：86-10-81152644 ⚫ 中药表现平稳，化学药集采负面影响已充分体现，生物药新适应症获批 后有望迎来拐点。2023年公司中药收入为59.71 亿元（+6.62%），其中 [市Ta场bl指e_数Ch走ar势t]（ 最近1年） 核心产品复方丹参滴丸销售量同比增加9.89%，在集采后实现了以价换 0.2 天士力 沪深300 量，我们预计 2023 年收入仍有一定幅度增长，后续随着原有适应症用 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has a rich product layout and stable growth in performance, with a focus on modern traditional Chinese medicine and a strong position in the cardiovascular drug market [4] - In 2023, the company achieved revenue of 8.674 billion yuan, a year-on-year increase of 0.42%, and a net profit attributable to shareholders of 1.071 billion yuan, a year-on-year increase of 505.34% [3][4] - The company is enhancing its innovation capabilities with a robust pipeline of 98 products under development, including 41 innovative drugs and 36 in clinical trials [4] Summary by Sections Financial Performance - In 2023, the company reported revenue of 8.674 billion yuan and a net profit of 1.071 billion yuan, with a significant increase in net profit attributable to shareholders [3][6] - The projected revenue for 2024-2026 is estimated at 9.181 billion, 9.624 billion, and 10.010 billion yuan respectively, with net profits of 1.134 billion, 1.214 billion, and 1.284 billion yuan [4][6] Product Development - The company has developed a comprehensive product chain focusing on cardiovascular diseases, with ongoing research covering various conditions such as hyperlipidemia and coronary heart disease [4] - The R&D investment for 2023 was 1.315 billion yuan, a year-on-year increase of 29.49%, indicating a strong commitment to innovation [4] Market Position - The company maintains a leading advantage in the innovative drug field for cardiovascular treatments, supported by a pipeline of 19 modern traditional Chinese medicine products in clinical II and III phases [4] - The current market capitalization is approximately 22.902 billion yuan, with a current stock price of 15.33 yuan [4][6]

证券研究报告 公 2024年04月17日 司 报 告 天士力(600535) │ 行 业： 医药生物/中药Ⅱ 公 投资评级： 买入（维持） 司 当前价格： 14.90元 年 经营质量稳步提升，创新管线高效推进 目标价格： 21.49元 报 点 事件： 评 基本数据 公司发布2023年年度报告，2023全年实现收入86.74亿元（yoy+0.42%）， 总股本/流通股本(百万股) 1,493.95/1,493.95 归母净利润 10.71 亿元，主要系报告期内金融资产公允价值变动损失低于 流通A股市值(百万元) 22,259.86 上年所致，扣非归母净利润 11.81 亿元（yoy+60.11%）。单 Q4 季度公司实 每股净资产(元) 8.25 现收入21.03亿元（yoy-15.64%），归母净利润0.39亿元（yoy-50.44%）， 资产负债率(%) 24.08 扣非归母净利润1.27亿元。 一年内最高/最低(元) 18.00/12.88 ➢ 医药工业稳健增长，经营质量持续提升 股价相对走势 公司 2023 年医药工业实现收入 74.21 亿元（yoy+3.22%），毛利率 72.96% 天士力 沪深3 ...

公司快报 2024 年 04 月 16 日 天 士力(600535.SH) 证券研究报告 扣非净利润符合预期，临床中后期研发 中成药 投资评级 买入-A 管线储备丰富 维持评级 6个月目标价 23.00元 事件： 股价 (2024-04-15) 15.63元 2024 年 4 月 15 日，公司发布 2023 年年度报告。2023 年公司实现 营业收入 86.74 亿元，同比增长 0.42%，实现归母净利润 10.71 亿 交易数据 元，同比增长 505.34%，实现扣非净利润 11.81 亿元，同比增长 总市值(百万元) 23,350.44 60.11%。单季度来看，2023 年 Q4 公司实现营业收入 21.03 亿元， 流通市值(百万元) 23,350.44 同比下滑 16.04%，实现归母净利润 0.39 亿元，同比下滑 51.62%， 总股本(百万股) 1,493.95 实现扣非净利润 1.27亿元，同比增长367.59%。 流通股本(百万股) 1,493.95 12个月价格区间 12.96/17.51元 扣非净利润符合预期，中药主业实现稳健增长。 参考 2024 年1 月公告的业绩预告，公司预计 ...

Investment Rating - The investment rating for the company is "Accumulate" [4]. Core Insights - The company's net profit attributable to shareholders has significantly rebounded, achieving a net profit of 1.071 billion yuan in 2023, a year-on-year increase of 505.34% [3]. - The company has increased its R&D investment to accelerate the development of intelligent traditional Chinese medicine, with R&D spending reaching 1.315 billion yuan, up 29.49% year-on-year [3]. - The company's profitability has shown a good recovery, with a gross profit margin of 66.80% and a net profit margin of 11.72%, reflecting increases of 2.75 percentage points and 15.69 percentage points, respectively [3]. Financial Performance Summary - In 2023, the company achieved operating revenue of 8.674 billion yuan, a year-on-year increase of 0.42% [3]. - The pharmaceutical industrial revenue grew by 3.22%, while the traditional Chinese medicine segment revenue reached 5.971 billion yuan, up 6.62% year-on-year [3]. - The company forecasts operating revenues of 9.416 billion yuan, 10.211 billion yuan, and 11.064 billion yuan for 2024, 2025, and 2026, respectively, with corresponding net profits of 1.314 billion yuan, 1.479 billion yuan, and 1.598 billion yuan [7][8]. R&D and Product Pipeline - The company has a robust R&D pipeline with 98 products under development, including 41 innovative drugs and 36 in clinical trials [3]. - Notable products in clinical trials include several innovative traditional Chinese medicines and new chemical entities, with some nearing the final stages of approval [3]. Market Position and Valuation - The company's market capitalization is approximately 22.26 billion yuan, with a 52-week high of 18.00 yuan and a low of 12.88 yuan [5]. - The projected P/E ratios for 2024, 2025, and 2026 are 17, 15, and 14, respectively, indicating a favorable valuation trend [8].

生 命 因 爱 而 动 Environmental,Social and Governance Report ! | ( 天士力 TA > LY 生 命 因 爱 而 动 地址:天津市北辰区普济河东道2号天士力现代中药城 | (Add):Tasly TCM Garden, No.2,Pujihe East Road, Beichen District, Tianjin 电话(Tel):022-2673-6688 | 传真(Fax):022-2673-6698 | 邮编(P.C.):300410 | 网址(Web): www.taslypharma.com 2023 社会责任报告 Y PHARMACEUTICAL GROUP CO., LTD. 天士力 | 生命因爱而动 ·----------- 关于天士力 社会篇 关于本报告 编制依据 本报告遵循《上海证券交易所上市公司自律监管指引第 1 号 -- 规范运作》《上 海证券交易所股票上市规则（2023年8月修订）》，广泛参考上海证券交易所 《上市公司自律监管指引第 14 号 -- 可持续发展报告（试行）（征求意见稿）》 及全球报告倡议组织（GRI）的《可持续发展报 ...