Financial Performance - The company's operating revenue for Q1 2025 was CNY 4,174,424,028.39, representing a 0.78% increase compared to CNY 4,142,160,958.07 in the same period last year[5]. - Net profit attributable to shareholders increased by 20.48% to CNY 212,929,359.73 from CNY 176,741,385.26 year-on-year[5]. - The net profit after deducting non-recurring gains and losses rose by 28.06% to CNY 203,986,037.99 compared to CNY 159,290,806.61 in the previous year[5]. - The company's net profit for Q1 2025 was CNY 218.73 million, an increase of 14.9% compared to CNY 190.31 million in Q1 2024[24]. - The total comprehensive income for Q1 2025 was CNY 218.74 million, compared to CNY 190.31 million in Q1 2024, reflecting a growth of 14.9%[24]. Cash Flow and Financial Position - The net cash flow from operating activities was negative at CNY -464,573,942.93, a decline of 71.56% from CNY -270,799,005.53 in the same period last year[5]. - The company's cash flow from financing activities was negative CNY 271.12 million in Q1 2025, a decline from positive CNY 126.27 million in Q1 2024[28]. - The company's cash and cash equivalents decreased to RMB 2,802,289,671.46 from RMB 3,634,381,413.10, representing a decline of approximately 22.9%[17]. - The cash and cash equivalents at the end of Q1 2025 were CNY 2.77 billion, a slight decrease from CNY 2.80 billion at the end of Q1 2024[28]. Assets and Liabilities - Total assets decreased by 3.57% to CNY 14,093,731,165.68 from CNY 14,615,758,011.08 at the end of the previous year[5]. - Current assets as of March 31, 2025, totaled RMB 10,498,968,223.29, down from RMB 10,978,679,688.33 as of December 31, 2024, indicating a decrease of about 4.4%[17]. - Total liabilities decreased to RMB 7,785,724,064.16 as of March 31, 2025, from RMB 8,526,490,627.20 at the end of 2024, a reduction of approximately 8.7%[19]. - The total assets of the company were RMB 14,093,731,165.68 as of March 31, 2025, down from RMB 14,615,758,011.08 at the end of 2024, indicating a decrease of about 3.6%[19]. - The company reported a decrease in inventory to RMB 1,825,189,539.55 from RMB 1,891,061,725.71, reflecting a decline of approximately 3.5%[17]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 104,431[12]. - The largest shareholder, Harbin Pharmaceutical Group Co., Ltd., holds 46.58% of the shares, with 926,857,248 shares pledged[13]. - Shareholders' equity attributable to the parent company increased by 3.98% to CNY 5,562,723,133.49 from CNY 5,349,779,547.13 at the end of the previous year[5]. - The total equity attributable to shareholders increased to RMB 5,562,723,133.49 from RMB 5,349,779,547.13, marking an increase of about 4.0%[19]. Operating Costs and Expenses - The company reported a total operating cost of CNY 3.91 billion in Q1 2025, compared to CNY 3.91 billion in Q1 2024, indicating a stable cost structure[23]. - Research and development expenses increased to CNY 31.12 million in Q1 2025, up from CNY 25.27 million in Q1 2024, representing a growth of 23.3%[23]. - The company incurred a financial expense of CNY 7.41 million in Q1 2025, compared to CNY 3.23 million in Q1 2024, indicating an increase of 129.5%[23]. - The company reported a significant increase in financial expenses by 129.62%, amounting to an increase of CNY 418 million, primarily due to a decrease in deposit interest rates[9]. Market Activity - The company has not indicated any significant new product launches or market expansions during this reporting period[15].

Financial Performance - The company's operating revenue for 2024 reached ¥16,175,856,239.24, representing a 4.65% increase compared to ¥15,456,578,104.40 in 2023[22] - The net profit attributable to shareholders for 2024 was ¥628,846,598.33, a significant increase of 59.10% from ¥395,263,436.89 in 2023[22] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥585,820,306.77, up 80.08% from ¥325,313,962.85 in 2023[22] - The net cash flow from operating activities for 2024 was ¥792,499,564.33, a decrease of 16.55% compared to ¥949,670,974.17 in 2023[22] - The total assets as of the end of 2024 amounted to ¥14,615,758,011.08, reflecting a 3.57% increase from ¥14,112,148,916.32 at the end of 2023[22] - The net assets attributable to shareholders increased to ¥5,349,779,547.13, a rise of 13.24% from ¥4,724,089,680.56 at the end of 2023[22] Profit Distribution and Governance - The company did not implement any profit distribution or capital reserve transfer to increase share capital for the year 2024 due to a distributable profit of -¥2,069,422,955.26[7] - The company has established a governance structure that ensures effective checks and balances, protecting the rights of all shareholders, especially minority shareholders[156] - The company maintains independence from its controlling shareholder in operations, finance, and management, ensuring independent accounting and risk management[156] - The company has set up specialized committees within the board to enhance decision-making processes and ensure healthy development[157] - The company has implemented measures to ensure accurate, complete, and timely information disclosure to all shareholders[159] Market and Product Development - The company is focusing on transforming its sales model from a heavy distribution approach to a terminal promotion model, enhancing product competitiveness[34] - The health products segment is identified as a key growth driver, with a competitive product mix and diversified online sales channels[36] - The company is enhancing its core product competitiveness through improved lifecycle management and collaboration with suppliers[36] - The company focuses on R&D in five major therapeutic areas: cardiovascular, digestive metabolism, respiratory, anti-infection, and anti-tumor, with a strategic shift towards innovative drug development[38] - The company is actively pursuing new drug registrations and consistency evaluations to strengthen its market position and product portfolio[118] Research and Development - The company has invested 136 million RMB in R&D, which is a 28.69% increase from the previous year, indicating a strong commitment to innovation[65] - The company has established a comprehensive quality management system, adhering to international standards to ensure product quality and patient safety[59] - The company is enhancing its R&D capabilities by establishing specialized technology platforms to address technical challenges and improve core competitiveness[144] - The company’s R&D investment amounted to 12,864.72 million RMB, representing 1.05% of operating revenue and 2.78% of net assets[122] - The company has several R&D projects under review by the CDE, including Fosfomycin and Oseltamivir, with varying investment amounts[124][125] Sales and Marketing Strategy - The company has established a marketing network covering over 30 provinces, with a focus on e-commerce for health products, enhancing online sales capabilities[51] - The company is actively expanding its online health product business to capture the growing consumer demand in the health sector[55] - The company is implementing a digital upgrade of production lines to improve operational efficiency and enhance quality management systems[39] - The company is currently developing multiple projects, including oral rehydration salts and various injectable antibiotics, with several under CDE review[114][116] - The company is expanding its market presence in Southeast Asia, targeting a 25% market share within the next two years[167] Operational Efficiency - The company is enhancing production efficiency and flexibility through continuous production line upgrades and digitalization efforts, providing strong technical support for sustainable development[97] - The company is focusing on optimizing supply chain management to reduce costs in response to centralized procurement challenges[139] - The company is implementing lean production and digital upgrades to improve operational efficiency and supply chain stability[144] - The company has implemented a cash dividend policy that prioritizes cash dividends when conditions allow, ensuring a stable and continuous return to investors[189] - The company has a mechanism to ensure that minority shareholders can express their opinions and that their rights are protected during the profit distribution process[194] Human Resources and Management - The company is actively enhancing its human resources system to attract and retain high-quality talent, which is crucial for sustainable growth and innovation[40] - The company has implemented a performance assessment system to optimize salary management and enhance human resource efficiency[187] - The company has introduced various incentive plans to stimulate the motivation and innovation of sales and R&D personnel[187] - The company has established a comprehensive talent development system, including a "Leadership Training Camp" to enhance core competencies among key personnel[188] - The company employed a total of 10,180 staff, with 2,357 in the parent company and 7,823 in major subsidiaries[186] Future Outlook - The company plans to achieve a revenue of 16.76 billion yuan in 2025, representing a year-on-year increase of 3.61%[143] - The net profit attributable to shareholders is projected to be 635 million yuan in 2025, reflecting a year-on-year growth of 1.06%[143] - The company aims for a net profit of 551 million yuan in 2024, excluding the impact of a government repayment, which would represent a 15.43% increase compared to 2025[143] - The company plans to optimize its project development strategy in line with favorable policies, enhancing research and development efficiency and quality[104] - The company is committed to adjusting its profit distribution policy in response to regulatory changes or significant shifts in the operating environment, ensuring compliance with relevant regulations[193]

哈药集团股份有限公司 2024 年度 内部控制审计报告 目 录 内部控制审计报告 1-2 中证天通会计师事务所（特殊普通合伙） 中证天通会计师事务所 （特殊普通合伙） 中国·北京 海淀区西直门北大街 43 号 金运大厦 B 座 13 层 邮编 100044 电话 010 6221 2990 传真 010 6225 4941 网址 www.zzttcpa.com 内部控制审计报告 中证天通（2025）证专审 21170001 号 哈药集团股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要 求，我们审计了哈药集团股份有限公司（以下简称"哈药股份"）2024 年 12 月 31 日的财务报告内部控制的有效性。 四、财务报告内部控制审计意见 一、企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业 内部控制评价指引》的规定，建立健全和有效实施内部控制，并评价其有效 性是哈药股份董事会的责任。 我们认为，哈药股份于 2024 年 12 月 31 日按照《企业内部控制基本规 范》和相关规定在所有重大方面保持了有效的财务报告内部控制。 - 1 - (本页无正 ...

哈药集团股份有限公司 2024 年度 财务报表之审计报告 目 录 | 一、审计报告 | 1-6 | | --- | --- | | 二、已审公司财务报表 | | | 1.合并资产负债表 | 7-8 | | 2.母公司资产负债表 | 9-10 | | 3.合并利润表 | 11 | | 4.母公司利润表 | 12 | | 5.合并现金流量表 | 13 | | 6.母公司现金流量表 | 14 | | 7.合并股东权益变动表 | 15-16 | | 8.母公司股东权益变动表 | 17-18 | | 9.财务报表附注 | 19-131 | 中证天通会计师事务所（特殊普通合伙） 中证天通会计师事务所 （特殊普通合伙） 中国·北京 海淀区西直门北大街 43 号 金运大厦 B 座 13 层 邮编 100044 电话 010 6221 2990 传真 010 6225 4941 网址 www.zzttcpa.com 审计报告 中证天通（2025）证审字 21170011 号 哈药集团股份有限公司全体股东： 一、审计意见 我们审计了哈药集团股份有限公司（以下简称"哈药股份"）财务报 表，包括 2024 年 12 月 31 日的合 ...

关于哈药集团股份有限公司 非经营性资金占用及其他关联资金往来情况 汇总表的专项审计报告 目 录 1、 专项审计报告 2、 附表 委托单位：哈药集团股份有限公司 审计单位：中证天通会计师事务所（特殊普通合伙） 联系电话：010-62212990 关于哈药集团股份有限公司 非经营性资金占用及其他 关联资金往来的专项说明 关于哈药集团股份有限公司 非经营性资金占用及其他关联资金往来的专项说明 中证天通(2025) 证审字 21170011 号-1 目 录 关于哈药集团股份有限公司非经营性资金占 1-2 用及其他关联资金往来的专项说明 哈药集团股份有限公司 2024 年度非经营性资 3 金占用及其他关联资金往来情况汇总表 中证天通会计师事务所 (特殊普通合伙) ： 哈药集团股份有限公司全体股东: 我们接受哈药集团股份有限公司(以下简称"哈药股份")委托,根据 中国注册会计师执业准则审计了哈药股份 2024年 12月 31 日的合并及母公 司资产负债表,2024年度合并及母公司利润表、合并及母公司现金流量表、 合并及母公司股东权益变动表和财务报表附注,并出具了中证天通(2025) 证审字 21170011 号无保留意见 ...

哈药股份（600664）公告，2024年营业收入161.76亿元，同比增长4.65%。归属于上市公司股东的净利 润6.29亿元，同比增长59.10%。基本每股收益0.25元／股，同比增长56.25%。公司本年度不实施利润分 配，也不进行资本公积转增股本。 ...

Investment Rating - The report initiates coverage on Harbin Pharmaceutical Group Co., Ltd. with a "Buy" rating and a target price of RMB 4.95, based on a 17x PE for 2025 [1][5][19]. Core Views - The company has undergone significant changes in management, systems, and operations since the end of 2023, which are expected to drive sustainable growth in 2024 and beyond. The anticipated performance improvements are reflected in a projected revenue increase of 15-20% annually from 2024 to 2027, with net profit margins expected to rise from 3.4% in 2023 to 8.5% by 2027 [2][3][4][19]. Summary by Sections Management Changes - The management team has been reshuffled, with a new chairman appointed from the Harbin State-owned Assets Supervision and Administration Commission, and a focus on internal promotions to enhance cohesion and operational efficiency [2][30][32]. Operational Reforms - The company has implemented reforms in management systems, including adjustments to internal controls and incentive structures, aimed at improving decision-making efficiency and fostering a performance-driven culture [2][30][32]. Revenue and Profit Growth - Industrial revenue for 2023 was RMB 5.3 billion, with a net profit margin of 3.4%. Projections for 2024-2027 indicate revenues of RMB 16.9 billion, RMB 18.5 billion, RMB 20.2 billion, and RMB 22.1 billion, respectively, with net profits expected to grow significantly [3][5][19]. Market Position and Product Strategy - The company aims to cultivate a product matrix with three RMB 1 billion products and several others at lower tiers, focusing on enhancing market share in key segments such as calcium and zinc supplements, and traditional Chinese medicine [3][35][36]. Valuation and Future Outlook - The report anticipates a recovery in the company's valuation as growth potential is validated, with a projected net profit of RMB 6.0 billion in 2024, increasing to RMB 10.7 billion by 2027, reflecting a compound annual growth rate (CAGR) of 52.4% in 2024 [5][19][23].

证券代码:600664 证券简称:哈药股份 编号:临 2025-009 近日，哈药集团股份有限公司（以下简称"公司"）所属企业哈 药集团制药总厂（以下简称"哈药总厂"）收到国家药品监督管理局 颁发的关于注射用头孢他啶的《药品补充申请批准通知书》【1.5g（按 C₂₂H₂₂N₆O₇S₂计），通知书编号：2025B01609；1.0g（按 C₂₂H₂₂N₆O₇S₂ 计），通知书编号：2025B01611】，本品通过仿制药质量和疗效一 致性评价。 一、 药品的基本情况 药品名称：注射用头孢他啶 剂型：注射剂 哈药集团股份有限公司 关于所属企业药品通过仿制药一致性评价的公告 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法律责任。 注射用头孢他啶适用于治疗敏感微生物引起的单一或多重感染。 如全身性重度感染、下呼吸道感染（包括肺炎）、耳鼻喉感染、尿路 感染、皮肤和软组织感染、骨和关节感染、妇科感染、胃肠道、胆道 和腹部感染、血液/腹膜透析和持续性非卧床腹膜透析（CAPD）相关 感染、中枢神经系统感染（包括脑膜炎）、预防围手术期尿路感染等。 也可单独 ...

哈药股份（600664）公告，所属企业哈药集团制药总厂的注射用头孢他啶通过仿制药质量和疗效一致性 评价。该药品适用于治疗敏感微生物引起的单一或多重感染，包括全身性重度感染、下呼吸道感染、耳 鼻喉感染、尿路感染等。截至公告日，米内数据库显示，国内共有注射用头孢他啶312个生产批文，37 个厂家的注射用头孢他啶通过仿制药质量和疗效一致性评价审批。2023年该药品国内年度销售额为 231,237万元，2024年上半年销售额为117,746万元。哈药总厂已投入研发费用约837.55万元人民币。通 过一致性评价有利于扩大市场份额，提升竞争力。 ...

证券代码:600664 证券简称:哈药股份 编号:临 2025-008 哈药集团股份有限公司 关于所属企业获得药品注册证书的公告 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法律责任。 近日，哈药集团股份有限公司（以下简称"公司"）所属企业哈 药集团中药二厂（以下简称"中药二厂"）收到国家药品监督管理局 核准签发的关于乳果糖口服溶液的《药品注册证书》【编号： 2025S00940】。现将相关情况公告如下： 一、 药品的基本情况 药品名称：乳果糖口服溶液 剂型：口服溶液剂 规格：15mL：10g 注册分类：化学药品 4 类 药品批准文号：国药准字 H20253805 审批结论：根据《中华人民共和国药品管理法》及有关规定，经 审查，本品符合药品注册的有关要求，批准注册，发给药品注册证书。 二、 药品的相关信息 乳果糖是由美国 Solvay 公司开发的由半乳糖与果糖组成的二 糖，Solvay 公司后被美国 Abbott（雅培）公司收购。乳果糖口服溶液 1964 年首先在荷兰上市，作为缓泻剂治疗便秘，也可用于预防和治 疗各种肝病引起的高血氨症以 ...