Financial Performance - The company's operating revenue for the third quarter was CNY 1,470,356,873.74, an increase of 5.97% compared to the same period last year[4] - The total profit for the quarter was CNY 43,403,798.27, a decrease of 15.58% year-on-year[4] - The net profit attributable to shareholders was CNY 34,361,228.02, down 27.04% from the previous year[4] - The basic earnings per share for the quarter was CNY 0.04, a decrease of 20.00% compared to the same period last year[5] - Total operating revenue for the first three quarters of 2025 was CNY 4,624,350,443.62, a decrease of 0.9% compared to CNY 4,666,958,713.84 in the same period of 2024[18] - Net profit for the first three quarters of 2025 was CNY 146,619,239.95, a decline of 58.9% compared to CNY 356,919,215.41 in 2024[19] - Total comprehensive income for the period was CNY 144,632,967.90, a decrease from CNY 354,487,866.77 in the previous year, with the attributable to the parent company amounting to CNY 139,209,932.65 compared to CNY 344,627,089.96[20] - Earnings per share (EPS) for the current period was CNY 0.16, down from CNY 0.39 in the previous period[20] Assets and Liabilities - The total assets at the end of the reporting period were CNY 8,816,367,162.43, a decrease of 3.10% from the end of the previous year[5] - The company's total assets as of September 30, 2025, were CNY 8,816,367,162.43, down from CNY 9,097,984,876.42 at the end of 2024[16] - Total liabilities decreased to CNY 4,711,537,770.33 from CNY 5,036,414,501.68, a reduction of 6.4%[16] - Short-term borrowings increased to CNY 1,038,320,911.92, up 19.1% from CNY 871,771,193.79 at the end of 2024[15] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 113,538[10] - The largest shareholder, Hualu Holdings Group Co., Ltd., holds 20.69% of the shares, totaling 185,896,620 shares[10] Cash Flow and Investments - The company's cash and cash equivalents increased to CNY 786,358,617.39 as of September 30, 2025, compared to CNY 772,536,945.22 at the end of 2024[14] - Cash inflow from operating activities totaled CNY 3,901,835,418.37, an increase from CNY 3,786,030,177.32 year-over-year[22] - Operating cash flow for the first three quarters of 2025 was CNY 305,942,559.58, down from CNY 404,714,257.80 in the same period of 2024[22] - Net cash flow from investing activities was -CNY 114,511,605.78, an improvement from -CNY 176,726,176.10 in the previous year[23] - Cash flow from financing activities resulted in a net outflow of -CNY 145,650,672.54, compared to -CNY 188,301,912.41 in the prior year[23] - The company reported a net increase in cash and cash equivalents of CNY 50,505,804.05, compared to CNY 45,379,039.62 in the previous year[23] - The total cash and cash equivalents at the end of the period stood at CNY 546,206,996.02, down from CNY 575,424,936.99 at the end of the previous year[23] - The company received CNY 1,349,991,458.24 in cash from borrowings, an increase from CNY 904,000,000.03 in the previous year[23] - Cash received from sales of goods and services was CNY 3,758,129,493.31, an increase from CNY 3,428,306,291.09 in the same period last year[21] Operational Metrics - The company experienced a significant decline in profit due to large asset disposal gains from land storage in the same period last year, impacting current profit metrics[8] - Non-recurring gains and losses for the quarter amounted to CNY 11,618,622.28, with a total of CNY 18,374,363.94 for the year-to-date[7] - The company reported a decrease in research and development expenses to CNY 220,890,477.26 from CNY 223,166,241.03, a decline of 1.0%[19] - Accounts receivable rose to CNY 955,387,979.32, up from CNY 940,440,122.12 at the end of 2024, indicating a 1.0% increase[14] - Inventory decreased to CNY 1,266,992,024.09 from CNY 1,484,208,209.11, reflecting a reduction of 14.6%[14] - Total operating costs for the first three quarters of 2025 were CNY 4,428,403,914.86, down 2.6% from CNY 4,545,910,874.37 in 2024[18]

Core Viewpoint - LuKang Pharmaceutical reported a mixed performance in its third-quarter results, with revenue growth but a significant decline in net profit [1] Financial Performance - In the third quarter, the company achieved an operating income of 1.47 billion yuan, representing a year-on-year increase of 5.97% [1] - The net profit attributable to shareholders for the third quarter was 34.36 million yuan, showing a year-on-year decrease of 27.04% [1] - For the first three quarters, the company recorded an operating income of 4.62 billion yuan, which is a year-on-year decline of 0.91% [1] - The net profit attributable to shareholders for the first three quarters was 141 million yuan, reflecting a significant year-on-year decrease of 59.32% [1]

Core Insights - The eleventh round of national organized drug procurement has selected 55 drugs, enhancing accessibility for essential medications across various therapeutic areas [1][2] - The procurement process aims to stabilize clinical drug supply and ensure quality, with measures in place to prevent price undercutting and collusion among companies [4][5] Group 1: Procurement Details - A total of 4.6 million medical institutions participated, with 445 companies submitting bids, resulting in 453 products from 272 companies being shortlisted [1] - The selected drugs include notable medications such as Dapagliflozin and Pravastatin, which are expected to exceed sales of 1 billion yuan in 2024 [1] - The procurement process has successfully achieved its goals of maintaining clinical stability, ensuring quality, and preventing excessive competition [2] Group 2: Market Dynamics - The competitive intensity in this round of procurement has increased significantly, with measures implemented to maintain a reasonable pricing structure and prevent extreme low bids [4][5] - The introduction of a price anchor mechanism and restrictions on companies with related interests aims to foster fair competition and prevent collusion [5] - The procurement rules allow medical institutions to report quantities based on either generic names or specific brands, aligning with clinical practices and enhancing drug availability [6] Group 3: Impact on Pharmaceutical Industry - The procurement process is expected to indirectly empower innovation by controlling profits from generic drugs, thus encouraging companies to invest in research and development [8] - The new "revival mechanism" allows companies that do not win bids to still secure a portion of the market, reducing the impact of pricing errors [8] - The focus on quality and safety in drug procurement is expected to drive the pharmaceutical industry towards higher standards and innovation, with a notable increase in the number of innovative drug applications in recent years [8]

Core Viewpoint - The A-share market is experiencing a surge in flu-related stocks, driven by rising flu activity in southern provinces and the emergence of the H3N2 strain, which has led to increased investor interest in pharmaceutical companies [1][2] Company Performance - **Jinshi Yiyao**: Increased by 13.44%, with a total market value of 4.644 billion [2] - **Guangji Pharmaceutical**: Rose by 9.97%, total market value of 2.448 billion [2] - **Te Yi Pharmaceutical**: Gained 8.78%, market value of 5.209 billion [2] - **Hualan Biological Engineering**: Up by 8.59%, with a market value of 12.9 billion [2] - **Lingkang Pharmaceutical**: Increased by 7.01%, market value of 4.291 billion [2] - **Hengdi Pharmaceutical**: Rose by 6.60%, market value of 5.466 billion [2] - **Innotec**: Increased by 5.37%, market value of 4.459 billion [2] - **Weikang Pharmaceutical**: Up by 4.76%, market value of 3.471 billion [2] - **Yirui Biological**: Increased by 4.67%, market value of 4.359 billion [2] Market Trends - The China CDC reported a slow increase in respiratory disease cases nationwide, with flu activity rising in southern provinces and remaining low in northern regions [1] - Experts suggest that the flu season may arrive earlier this year, with a potential increase in infection rates due to lower immunity against the H3N2 strain [1]

Meeting Overview - The second extraordinary general meeting of shareholders was held on October 10, 2025, at the company's conference room in Shandong [2] - The meeting was convened by the board of directors and chaired by Chairman Peng Xin, utilizing a combination of on-site and online voting methods [2][3] Attendance - All 9 current directors and 3 current supervisors attended the meeting, along with the board secretary and other senior management [3] Resolutions Passed - The following resolutions were approved: - Cancellation of the supervisory board and amendment of the Articles of Association [4] - Amendments to various governance documents, including: - Shareholders' meeting rules [5] - Board meeting rules [5] - Independent director work system [5] - External guarantee management system [5] - External investment management system [5] - Management measures for the use of raised funds [5] - Related party transaction management system [5] - The first resolution was a special resolution, requiring more than two-thirds of the voting rights held by attending shareholders for approval [5] Legal Verification - The meeting was witnessed by Beijing Tongshang Law Firm, with lawyers confirming that the meeting's procedures complied with relevant laws and regulations [6]

北京市通商律师事务所 关于山东鲁抗医药股份有限公司 2025 年第二次临时股东大会的 法律意见书 二〇二五年十月 中国北京市建国门外大街 1 号国贸写字楼 2 座 12-14 层 100004 12-14th Floor, China World Office 2, No.1 Jianguomenwai Avenue, Beijing 100004, China 电话 Tel: +86 10 6563 7181 传真 Fax: +86 10 6569 3838 电邮 Email: beijing@tongshang.com 网址 Web: www.tongshang.com 北京市通商律师事务所 关于山东鲁抗医药股份有限公司 2025 年第二次临时股东大会的法律意见书 本所律师按照律师行业公认的业务标准、道德规范和勤勉尽责精神，对本次股东大 会依法进行了见证，并对有关文件和事实进行了必要的核查和验证，现出具法律意见如 下： 一、关于本次股东大会的召集、召开程序 本次股东大会系由公司董事会召集。2025 年 9 月 19 日，公司第十一届董事会第九 次（临时）会议审议通过了《关于召开公司 2025 年第二次临时 ...

证券代码：600789 证券简称：鲁抗医药 公告编号：2025-051 山东鲁抗医药股份有限公司 2025年第二次临时股东大会决议公告 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： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 10 月 10 日 (二)股东大会召开的地点：山东鲁抗医药股份有限公司高新园区 A1115 会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 1,610 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 249,755,048 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 27.7916 | | 份总数的比例（%） | | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次会议由公司董事会召集，董事长彭欣先生主持。本次会议以现场投票及 网络投票相结合的方式进行表决，会议的召集、召开和表决方 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 公司董事会将根据上述批复文件和相关法律法规要求以及公司股东大会的授权，在规定期限内办理本次 向特定对象发行股票相关事宜，并及时履行信息披露义务。敬请广大投资者注意投资风险。 山东鲁抗医药股份有限公司（以下简称"公司"）近日收到中国证券监督管理委员会（以下简称"中国证 监会"）出具的《关于同意山东鲁抗医药股份有限公司向特定对象发行股票注册的批复》（证监许可 [2025]2158号），主要内容如下： 一、同意你公司向特定对象发行股票的注册申请。 二、你公司本次发行应严格按照报送上海证券交易所的申报文件和发行方案实施。 三、本批复自同意注册之日起12个月内有效。 四、自同意注册之日起至本次发行结束前，你公司如发生重大事项，应及时报告上海证券交易所并按有 关规定处理。 证券代码:600789 证券简称:鲁抗医药 公告编号:2025-050 山东鲁抗医药股份有限公司 关于向特定对象发行股票申请获得中国证监会同意注册批复的公告 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。 特此公告。 山 ...

Group 1 - The core point of the article is that LuKang Pharmaceutical (600789) has had its application for a non-public stock issuance approved and registered as effective [1] - The company plans to issue up to 270 million shares to no more than 35 specific investors, including Hualu Group [1] - The expected fundraising amount from this issuance is 1.2 billion yuan [1] Group 2 - The underwriting institution for this issuance is China International Capital Corporation [1]

鲁抗医药（600789）(600789.SH)发布公告，公司近日收到中国证券监督管理委员会(简称"中国证监会") 出具的《关于同意山东鲁抗医药股份有限公司向特定对象发行股票注册的批复》(证监许可[2025]2158 号)，同意公司向特定对象发行股票的注册申请。 ...