第二章 人员组成 第三条 提名委员会成员由三名董事组成，其中独立董事占多数。 山东鲁抗医药股份有限公司 董事会提名委员会工作细则 第四条 提名委员会委员由董事长、二分之一以上独立董事或者全体董事 的三分之一以上提名，并由董事会过半数选举产生。 （2025 年 8 月修订） 第五条 提名委员会设主任委员（召集人）一名，由独立董事委员担任， 负责主持委员会工作；主任委员在独立董事的委员内选举，并报请董事会批准产 第一章 总则 生。 第一条 为规范山东鲁抗医药股份有限公司（以下简称"公司"）领导人员 的产生，优化董事会成员组成，完善公司治理结构，根据《中华人民共和国公司 法》、《上市公司治理准则》、《公司章程》及其他有关规定，公司特设立董事会提 名委员会，并制定本细则。 第二条 董事会提名委员会是董事会按照股东会决议设立的专门工作机 构，主要负责拟定董事、高级管理人员的选择标准和程序，对董事、高级管理人 员人选及其任职资格进行遴选、审核并提出建议。 第六条 提名委员会任期与董事会任期一致，委员任期届满，连选可以连 任。期间如有委员不再担任公司董事职务，自动失去委员资格，并由委员会根据 上述第三至第五条规定补足委员人 ...

（2025年8月修订） 第一章 总 则 第一条 为进一步加强山东鲁抗医药股份有限公司(以下简称公司)经理层 履行法定职权和董事会授予的各项职权，有效行使重大经营决策权力，向董事会 负责，依据《中华人民共和国公司法》及其他有关法律、法规和《公司章程》的 有关规定，结合公司实际，制定本制度。 山东鲁抗医药股份有限公司 总经理向董事会报告制度 第二条 总经理作为公司生产经营管理的主要负责人，按照《公司章程》 规定履行职责，主持公司的生产经营管理工作，组织实施董事会决议，依据董事 会授权和《公司章程》行使职权。 第二章 报告时限 第三条 定期工作报告(包括季度、半年度、年度报告等)。总经理应定期在 董事会上报告经理层季度、半年度、年度等工作开展和完成情况，听取董事会意 见建议并接受问询。 第四条 专项工作报告。按照相关规定，出现经理层应向董事会报告的重 大事项，或根据工作需要，总经理认为董事会应当知悉的重大事项发生时，应 及时进行专项报告。 第三章 报告内容 第五条 年度工作报告。通过董事会会议报告期内经营管理情况，包括但 不限于：投资计划、预算执行、科技创新、重大融资、重大改革、资本运营、 生命线工程、风险管理等重 ...

山东鲁抗医药股份有限公司 董事、高管离职管理制度 （2025 年 8 月修订） 第一章 总则 第一条 为规范董事、高级管理人员离职相关事宜，确保公司治理的稳定连 续，维护公司及股东的合法权益，根据《中华人民共和国公司法》（以下简称"《公 司法》"）等法律法规、规范性文件及《山东鲁抗医药股份有限公司章程》（以 下简称"公司章程"）的有关规定，结合公司实际情况，制定本制度。 第二条 本制度适用于公司董事（含独立董事）、高级管理人员因任期届满、 辞职、被解除职务或其他原因离职的情形。 第二章 离职情形与程序 第三条 公司董事和高级管理人员可以在任期届满以前辞职，董事和高级管 理人员辞职应当向公司提交书面辞职报告，辞职报告中应说明辞职原因，除本制 度第四条所列情形外，公司收到辞职报告之日辞职生效，公司将在 2 个交易日内 披露有关情况。 第四条 如存在下列情形，在改选出的董事就任前，原董事仍应当依照法律、 行政法规、部门规章和公司章程的规定，继续履行董事职责，但相关法规另有规 定的除外： （一）董事任期届满未及时改选，或者董事在任期内辞任导致董事会成员低 于法定最低人数； （二）审计委员会成员辞任导致审计委员会成员低 ...

山东鲁抗医药股份有限公司 董事和高级管理人员所持本公司股份 管理制度 （2025 年 8 月修订） 第一章 总则 第一条 为加强董事、高级管理人员所持本公司股份及其变动的管理，根据 《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国证 券法》（以下简称"《证券法》"）、《上市公司股东减持股份管理暂行办法》 《上市公司董事和高级管理人员所持本公司股份及其变动管理规则》《上海证券 交易所上市公司自律监管指引第 8 号——股份变动管理》等法律、法规和规范性 文件以及《山东鲁抗医药股份有限公司章程》（以下简称"《公司章程》"）的 规定，制定本制度。 第二条 公司董事和高级管理人员所持本公司股份，是指登记在其名下和利 用他人账户持有的所有本公司股份。公司董事和高级管理人员从事融资融券交易 的，其所持本公司股份还包括记载在其信用账户内的本公司股份。 第三条 公司董事和高级管理人员应当遵守《公司法》《证券法》和有关法 律、行政法规，中国证监会规章、规范性文件以及上海证券交易所规则中关于股 份变动的限制性规定。 公司董事和高级管理人员对持有股份比例、持有期限、变动方式、变动数量、 变动价格等作出承诺的，应当 ...

南财智讯8月27日电，鲁抗医药发布2025年半年度报告，报告期实现营业收入31.54亿元，同比下降 3.83%；归属上市公司股东的净利润1.07亿元，同比下降64.38%；扣除非经常性损益后的归属于上市公 司股东的净利润1亿元，同比增长9.16%；基本每股收益0.12元。 ...

Part I [Definitions](index=4&type=section&id=Item%20I%20Definitions) [Definitions of Common Terms](index=4&type=section&id=Definitions%20of%20Common%20Terms) This section defines key terms, company names, regulatory standards, drug types, biotechnology concepts, and subsidiary names to enhance report comprehension - Clarifies that 'the Company', 'Company', and 'Lukang Pharmaceutical' all refer to 'Shandong Lukang Pharmaceutical Co., Ltd'[14](index=14&type=chunk) - Explains industry standards such as **GMP (Good Manufacturing Practice)** and **GSP (Good Supply Practice)** for pharmaceuticals[14](index=14&type=chunk) - Defines core pharmaceutical concepts like **Active Pharmaceutical Ingredient (API)** and **Finished Dosage Forms (FDFs)**[14](index=14&type=chunk) - Introduces cutting-edge biotechnology concepts such as **biomanufacturing** and **biosynthesis**[14](index=14&type=chunk) - Lists names and abbreviations of major subsidiaries, including Sherile Company and Saite Company[14](index=14&type=chunk) Part II [Company Profile and Key Financial Indicators](index=4&type=section&id=Item%20II%20Company%20Profile%20and%20Key%20Financial%20Indicators) [Company Information](index=4&type=section&id=Company%20Information) This section outlines the company's basic registration details, including its Chinese name, abbreviation, English name, legal representative, and stock listing information on the Shanghai Stock Exchange - The company's full Chinese name is "Shandong Lukang Pharmaceutical Co., Ltd.", abbreviated as "Lukang Pharmaceutical"[13](index=13&type=chunk) - The company's legal representative is Peng Xin[15](index=15&type=chunk) - The company's A-shares are listed on the Shanghai Stock Exchange, with stock code **600789**[19](index=19&type=chunk) [Contact Person and Information](index=5&type=section&id=Contact%20Person%20and%20Information) This section provides detailed contact information for the company's Board Secretary and Securities Affairs Representative, including names, addresses, phone numbers, faxes, and email addresses - The Board Secretary is Jing Baokun, and the Securities Affairs Representative is Yang Hua[16](index=16&type=chunk) - The company's contact address is No. 88 Deyuan Road, Jining High-tech Zone, Shandong Province[16](index=16&type=chunk) [Summary of Basic Information Changes](index=5&type=section&id=Summary%20of%20Basic%20Information%20Changes) This section lists the company's registered address, office address, postal code, website, and email address, noting no significant changes during the reporting period - The company's registered and office address is No. 88 Deyuan Road, Jining High-tech Zone, Shandong Province[17](index=17&type=chunk) - The company's website is http://www.lkpc.com, and its email address is lukang@lkpc.com[17](index=17&type=chunk) [Summary of Information Disclosure and Document Custody Location Changes](index=5&type=section&id=Summary%20of%20Information%20Disclosure%20and%20Document%20Custody%20Location%20Changes) This section specifies the company's designated information disclosure newspapers as "China Securities Journal" and "Shanghai Securities News", along with the website and location for the semi-annual report - The company's information disclosure newspapers are "China Securities Journal" and "Shanghai Securities News"[18](index=18&type=chunk) - The semi-annual report is published on www.sse.com.cn and kept at the company's Securities Affairs Department[18](index=18&type=chunk) [Company Stock Overview](index=5&type=section&id=Company%20Stock%20Overview) This section provides information on the company's A-share listing on the Shanghai Stock Exchange, including its stock abbreviation and code - The company's stock type is A-shares, listed on the Shanghai Stock Exchange, with stock abbreviation "Lukang Pharmaceutical" and stock code "600789"[19](index=19&type=chunk) [Company's Key Accounting Data and Financial Indicators](index=5&type=section&id=Company%27s%20Key%20Accounting%20Data%20and%20Financial%20Indicators) This section discloses the company's key accounting data and financial indicators for the first half of 2025, showing significant year-on-year declines in operating revenue and net profit, but a substantial increase in net cash flow from operating activities 2025 Semi-Annual Key Accounting Data | Indicator | Current Period (Jan-Jun) (CNY) | Prior Period (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 3,153,993,569.88 | 3,279,482,998.21 | -3.83 | | Total Profit | 142,932,282.72 | 320,915,470.53 | -55.46 | | Net Profit Attributable to Shareholders of Listed Company | 106,834,976.68 | 299,962,355.17 | -64.38 | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains and Losses) | 100,079,235.02 | 91,678,953.51 | 9.16 | | Net Cash Flow from Operating Activities | 312,337,278.58 | 183,727,474.77 | 70.00 | | Net Assets Attributable to Shareholders of Listed Company (Period-end) | 3,944,150,813.15 | 3,918,185,214.35 | 0.66 | 2025 Semi-Annual Key Financial Indicators | Indicator | Current Period (Jan-Jun) | Prior Period | Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (CNY/share) | 0.12 | 0.33 | -63.64 | | Diluted Earnings Per Share (CNY/share) | 0.12 | 0.33 | -63.64 | | Basic Earnings Per Share (Excluding Non-Recurring Gains and Losses) (CNY/share) | 0.11 | 0.10 | 10.00 | | Weighted Average Return on Net Assets (%) | 2.70 | 7.99 | Decreased by 5.29 percentage points | | Weighted Average Return on Net Assets (Excluding Non-Recurring Gains and Losses) (%) | 2.53 | 2.44 | Increased by 0.09 percentage points | [Non-Recurring Gains and Losses Items and Amounts](index=6&type=section&id=Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) This section details the company's non-recurring gains and losses items and their amounts for the first half of 2025, totaling **CNY 6,755,741.66**, primarily comprising government grants and disposal gains/losses of non-current assets 2025 Semi-Annual Non-Recurring Gains and Losses Items | Non-Recurring Gains and Losses Item | Amount (CNY) | | :--- | :--- | | Gains or losses from disposal of non-current assets | 54,358.85 | | Government grants recognized in current profit or loss | 10,586,633.68 | | Gains or losses from changes in fair value of financial assets and liabilities held by non-financial enterprises, and gains or losses from disposal of financial assets and liabilities | 8,893.63 | | Debt restructuring gains or losses | 10,956.05 | | Other non-operating income and expenses | -3,991,125.84 | | Less: Income tax impact | 222,047.15 | | Minority interest impact (after tax) | -308,072.44 | | **Total** | **6,755,741.66** | Part III [Management Discussion and Analysis](index=7&type=section&id=Item%20III%20Management%20Discussion%20and%20Analysis) [Description of the Company's Industry and Main Business Operations During the Reporting Period](index=7&type=section&id=Description%20of%20the%20Company%27s%20Industry%20and%20Main%20Business%20Operations%20During%20the%20Reporting%20Period) This section details the complex development of the pharmaceutical industry in the first half of 2025, where national policies encourage innovation but medical insurance cost controls lead to price pressure, while the company optimizes its product structure, increases the proportion of non-antibiotic drugs, and actively promotes the application of biomanufacturing and synthetic biology technologies - In the first half of 2025, pharmaceutical manufacturing operating revenue decreased by **1.02%** year-on-year, and profit decreased by **2.57%** year-on-year[25](index=25&type=chunk) - National policies support technological advancement and innovation, but medical insurance policies like centralized procurement and online price management continue to exert significant downward pressure on drug prices[25](index=25&type=chunk) - The company primarily engages in the research, development, production, and sale of pharmaceutical products, covering over **500 specifications** across antibiotics, hypoglycemic, and cardiovascular categories[26](index=26&type=chunk) - The company continuously adjusts its product structure, gradually increasing the proportion of non-antibiotic drugs, and promotes the transition from traditional microbial fermentation to synthetic biology applications[26](index=26&type=chunk) - The company has **56 varieties (dosage forms)** included in the 2024 National Medical Insurance Catalog, with **18 Class A** and **38 Class B** drugs[27](index=27&type=chunk) [Industry Development of the Company](index=7&type=section&id=Industry%20Development%20of%20the%20Company) In the first half of 2025, the pharmaceutical industry faced a complex environment of innovation support and medical insurance cost control, leading to significant drug price pressure and increased industry standardization - The pharmaceutical industry is accelerating innovative drug research and development, but centralized procurement and online price management policies are creating downward pressure on drug prices[25](index=25&type=chunk) - From January to June 2025, the pharmaceutical manufacturing industry's operating revenue was **CNY 1,443.56 billion**, a year-on-year decrease of **1.02%**, with profits reaching **CNY 206.9 billion**, a year-on-year decrease of **2.57%**[25](index=25&type=chunk) [Company's Main Business](index=7&type=section&id=Company%27s%20Main%20Business) The company's main business involves the research, development, production, and sale of a wide range of pharmaceutical products, including antibiotics, hypoglycemic, and cardiovascular drugs, while optimizing its product structure and transitioning towards biomanufacturing and synthetic biology technologies - The company's products include antibiotics, hypoglycemic agents, cardiovascular drugs, and more than **500 specifications** such as capsules and tablets[26](index=26&type=chunk) - The company's product structure is continuously adjusted, with the proportion of non-antibiotic drugs gradually increasing, and the revenue share of traditional Chinese and Tibetan medicine products rising year by year[26](index=26&type=chunk) - The company is advancing the transition from "traditional microbial fermentation production to synthetic biology technology applications," with biomanufacturing and biosynthesis products gradually becoming serialized and industrialized[26](index=26&type=chunk) [Main Products and Their Uses](index=7&type=section&id=Main%20Products%20and%20Their%20Uses) The company has **56 varieties (dosage forms)** included in the 2024 medical insurance catalog, encompassing various chemical and traditional Chinese medicines like Acarbose Tablets, Rosuvastatin Calcium Tablets, and Gefitinib Tablets, primarily for treating diabetes, hypercholesterolemia, lung cancer, erectile dysfunction, rheumatoid arthritis, coronary heart disease, and various infections - The company has **56 varieties (dosage forms)** included in the 2024 National Medical Insurance Catalog, with **18 Class A** and **38 Class B** drugs[27](index=27&type=chunk) - Key products include Acarbose Tablets (for type 2 diabetes), Rosuvastatin Calcium Tablets (for hypercholesterolemia), and Gefitinib Tablets (for non-small cell lung cancer)[28](index=28&type=chunk) - Products also include Tadalafil Tablets (for erectile dysfunction), Ketoprofen Sustained-Release Capsules (for rheumatoid arthritis), Runfei Zhike Capsules (for lung-heat dry cough), and various anti-infective injections and capsules[28](index=28&type=chunk)[29](index=29&type=chunk) [Business Model](index=8&type=section&id=Business%20Model) The company's business model integrates procurement, production, sales, and R&D, featuring transparent bidding and digital management in procurement, market-oriented GMP-compliant production, diversified sales channels with strong terminal coverage, and R&D focused on innovation and industry-academia collaboration - The procurement model implements a transparent bidding system, utilizing digital technology to optimize procurement processes, enhance efficiency, and reduce costs[30](index=30&type=chunk) - The production model is market-oriented, strictly adheres to GMP requirements, and continuously improves production automation, informatization, and intelligence levels[31](index=31&type=chunk) - The sales model is diversified, including "channel distribution + terminal delivery + investment promotion agency + academic promotion + entrusted processing + drug centralized procurement delivery + terminal development," while strengthening brand drugs and terminal control[32](index=32&type=chunk) - The R&D model centers on the Pharmaceutical Research Institute, driving breakthroughs in innovative drugs and high-end preparations through independent R&D and industry-academia-research collaboration, focusing on "two advantages, six characteristics" product pipelines[33](index=33&type=chunk) [Company's Market Position](index=9&type=section&id=Company%27s%20Market%20Position) Lukang Pharmaceutical, committed to "developing ecological medicine and serving human health," ranked **51st** in China's pharmaceutical industry by main business revenue in 2024 and **5th** in Shandong Province, earning multiple technology and quality awards, with its subsidiary Sherile Company recognized as a national "Green Factory" - The company ranked **51st** among the top 100 enterprises in China's pharmaceutical industry by main business revenue in 2024, and **5th** among pharmaceutical industrial enterprises in Shandong Province[34](index=34&type=chunk) - The company received one **first prize** in the 2024 Shandong Provincial Science and Technology Invention Award and was recognized as a Shandong Provincial Quality Benchmark Enterprise and a Provincial Smart Factory[34](index=34&type=chunk) - Subsidiary Sherile Company was selected as a national "Green Factory" and listed among Shandong Province's 2024 National Manufacturing Single Champion Enterprises[34](index=34&type=chunk) [Discussion and Analysis of Operations](index=10&type=section&id=Discussion%20and%20Analysis%20of%20Operations) In the first half of 2025, the company achieved results in increasing volume, reducing costs, adjusting structure, controlling risks, and strict assessment, with plans for the second half to deepen market development, focus on cost reduction and efficiency improvement, comprehensively prevent risks, strengthen pressure transmission, and enhance Party building for high-quality development - In the first half, the company strengthened refined marketing management, accelerated industrialization of new products, and achieved continuous growth in formulation export business[36](index=36&type=chunk) - The company effectively reduced production costs through measures such as enhancing equipment intelligence, lean production, product technology iteration, and digital transformation[37](index=37&type=chunk) - Strategic layout optimization focused on "two advantages, six characteristics" product pipelines, accelerating industrialization of biosynthesized products, and commissioning a thousand-ton green biomanufacturing project for trans-aconitic acid[38](index=38&type=chunk) - The company strengthened compliance management, environmental management (100% compliance rate), safety management, and quality management (QMS fully online, Quality Supervision Center certified by CNAS)[39](index=39&type=chunk) - The second half operating plan includes deepening market development, focusing on cost reduction and efficiency improvement, comprehensively preventing risks, strengthening pressure transmission, and enhancing Party building[41](index=41&type=chunk)[42](index=42&type=chunk)[43](index=43&type=chunk)[44](index=44&type=chunk)[45](index=45&type=chunk) [Analysis of Core Competencies During the Reporting Period](index=11&type=section&id=Analysis%20of%20Core%20Competencies%20During%20the%20Reporting%20Period) The company's core competencies lie in its innovation capabilities, integrated industrial chain, adaptability to policy environments, and technological advancement with intelligent manufacturing, laying a solid foundation for high-quality development through continuous R&D investment, product line expansion, proactive policy response, and digital transformation - Innovation Capability: Continuously increasing R&D investment, implementing "R&D Excellence Projects," and achieving breakthroughs in innovative drugs, biomanufacturing, and high-end formulations[46](index=46&type=chunk) - Industrial Chain Integration Capability: Possessing a complete product chain from fermented raw materials to semi-synthetic APIs and formulations, and enriching product pipelines across multiple therapeutic areas[47](index=47&type=chunk) - Adaptability to Policy Environment: Closely monitoring national pharmaceutical policies, responding to policy adjustments through business innovation, and actively complying with environmental and "Healthy China" policies[48](index=48&type=chunk) - Technological Advancement and Intelligent Manufacturing: Leveraging nearly **60 years** of biopharmaceutical technology accumulation, continuously promoting digital and intelligent construction, and improving production efficiency through equipment upgrades and technological iteration[49](index=49&type=chunk)[50](index=50&type=chunk) [Key Operating Performance During the Reporting Period](index=12&type=section&id=Key%20Operating%20Performance%20During%20the%20Reporting%20Period) This section analyzes the company's key operating performance for the first half of 2025, including changes in financial statement items, significant impacts of non-core business on profit, asset and liability status, and investment activities, noting year-on-year declines in operating revenue and total profit primarily due to land disposal gains in the prior year, but a substantial increase in net cash flow from operating activities and increased investment in construction in progress - Total operating revenue decreased by **3.83%** to **CNY 3.15 billion**, and total profit decreased by **55.46%** to **CNY 142.93 million**[56](index=56&type=chunk) - Total profit and net profit attributable to the parent company significantly decreased year-on-year, mainly due to a large gain from the disposal of land in the South Plant area in the prior period, which was a non-recurring gain[53](index=53&type=chunk) - Net cash flow from operating activities increased by **70.00%** year-on-year, primarily due to increased cash received from sales of goods and provision of services[52](index=52&type=chunk)[56](index=56&type=chunk) - Construction in progress at period-end increased by **98.85%** compared to the end of the prior year, mainly due to increased investment in construction projects[57](index=57&type=chunk) - Long-term borrowings at period-end decreased by **19.10%** compared to the end of the prior year, mainly due to optimized loan structure and repayment of prior loans[57](index=57&type=chunk) [Analysis Table of Changes in Financial Statement Items](index=12&type=section&id=Analysis%20Table%20of%20Changes%20in%20Financial%20Statement%20Items) Operating revenue, operating costs, selling expenses, financial expenses, and R&D expenses decreased year-on-year, while administrative expenses increased; net cash flow from operating activities significantly increased by **70%**, net cash flow from investing activities saw a narrower decrease, and net cash flow from financing activities saw a wider decrease 2025 Semi-Annual Changes in Financial Statement Items | Item | Current Period (CNY) | Prior Period (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 3,153,993,569.88 | 3,279,482,998.21 | -3.83 | | Operating Costs | 2,444,815,224.77 | 2,543,349,663.59 | -3.87 | | Selling Expenses | 216,345,390.21 | 307,817,727.36 | -29.72 | | Administrative Expenses | 124,080,869.76 | 113,318,615.75 | 9.50 | | Financial Expenses | 21,958,079.13 | 24,023,456.06 | -8.60 | | R&D Expenses | 138,184,253.75 | 158,893,369.08 | -13.03 | | Net Cash Flow from Operating Activities | 312,337,278.58 | 183,727,474.77 | 70.00 | | Net Cash Flow from Investing Activities | -105,329,326.59 | -133,436,846.82 | 21.06 | | Net Cash Flow from Financing Activities | -122,783,327.22 | -72,324,730.57 | -69.77 | - Selling expenses decreased by **29.72%**, primarily due to a reduction in promotional and advertising expenses[52](index=52&type=chunk)[56](index=56&type=chunk) - Net cash flow from operating activities increased by **70.00%**, mainly due to increased cash received from sales of goods and provision of services[52](index=52&type=chunk)[56](index=56&type=chunk) - Net cash flow from financing activities decreased by **69.77%**, primarily due to optimized loan structure and repayment of prior loans[52](index=52&type=chunk)[56](index=56&type=chunk) [Explanation of Significant Profit Changes Due to Non-Core Business](index=12&type=section&id=Explanation%20of%20Significant%20Profit%20Changes%20Due%20to%20Non-Core%20Business) The significant year-on-year decrease in total profit and net profit attributable to the parent company is primarily due to a large gain from the disposal of land in the company's South Plant area in the prior period, which was a non-recurring gain, causing a substantial change in current period performance - A large gain from the disposal of land in the company's South Plant area in the prior period led to a significant change in current period performance compared to the prior period[53](index=53&type=chunk) [Analysis of Assets and Liabilities](index=12&type=section&id=Analysis%20of%20Assets%20and%20Liabilities) At the end of the reporting period, the company's monetary funds and inventories decreased, while accounts receivable and construction in progress significantly increased; on the liability side, contract liabilities and long-term borrowings decreased, but non-current liabilities due within one year substantially increased 2025 Semi-Annual Changes in Assets and Liabilities | Item Name | Period-end Balance (CNY) | Period-end % of Total Assets | Prior Year-end Balance (CNY) | Prior Year-end % of Total Assets | Period-end Change from Prior Year-end (%) | Explanation | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 716,996,053.00 | 8.07 | 772,536,945.22 | 8.49 | -7.19 | Mainly due to decrease in bank acceptance bill deposits | | Accounts Receivable | 1,103,764,942.54 | 12.42 | 940,440,122.12 | 10.34 | 17.37 | Mainly due to new accounts receivable for goods | | Inventories | 1,258,666,581.05 | 14.16 | 1,484,208,209.11 | 16.31 | -15.20 | Mainly due to decrease in inventory goods | | Construction in Progress | 242,311,975.29 | 2.73 | 121,858,867.39 | 1.34 | 98.85 | Mainly due to increased investment in construction projects | | Contract Liabilities | 61,075,946.20 | 0.69 | 104,655,572.38 | 1.15 | -41.64 | Mainly due to decrease in advance receipts for sales | | Long-term Borrowings | 1,363,960,000.00 | 15.35 | 1,685,900,000.00 | 18.53 | -19.10 | Mainly due to optimized loan structure and repayment of prior loans | - As of the end of the reporting period, the company's monetary funds, accounts receivable financing, and intangible assets were restricted, with a total restricted amount of **CNY 273,125,878.63**[59](index=59&type=chunk) [Analysis of Investment Status](index=13&type=section&id=Analysis%20of%20Investment%20Status) During the reporting period, the company increased investment in construction in progress projects GZ-09 and SY-25, with their combined period-end balance reaching **CNY 127 million**; financial assets measured at fair value (stocks) were fully sold, resulting in a fair value change loss of **CNY -71,340.00** 2025 Semi-Annual Major Non-Equity Investment Projects | Project Name | Beginning Balance (CNY) | Current Period Increase (Internal Development Expenses) (CNY) | Period-end Balance (CNY) | Project Progress | Funding Source | | :--- | :--- | :--- | :--- | :--- | :--- | | GZ-09 Project | 53,844,156.44 | 16,318,159.69 | 70,162,316.13 | In progress | Own funds | | SY-25 Project | 7,758,095.26 | 49,259,448.66 | 57,017,543.92 | In progress | Own funds | | **Total** | **61,602,251.70** | **65,577,608.35** | **127,179,860.05** | / | / | - Financial assets measured at fair value (stocks) had a beginning balance of **CNY 1,220,160.00**, were fully sold in the current period, and generated a fair value change loss of **CNY -71,340.00**[64](index=64&type=chunk) [Analysis of Major Holding and Participating Companies](index=15&type=section&id=Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) This section lists the company's major holding subsidiaries, including Shandong Lukang Pharmaceutical Group Saite Co., Ltd., Qinghai Lukang Dadi Pharmaceutical Co., Ltd., Shandong Lukang Sherile Pharmaceutical Co., Ltd., and Shandong Lukang Zhonghe Environmental Protection Technology Co., Ltd., disclosing their registered capital, total assets, net assets, operating revenue, operating profit, and net profit Major Holding Subsidiary Financial Information | Company Name | Company Type | Main Business | Registered Capital (CNY) | Total Assets (CNY) | Net Assets (CNY) | Operating Revenue (CNY) | Operating Profit (CNY) | Net Profit (CNY) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Shandong Lukang Pharmaceutical Group Saite Co., Ltd. | Subsidiary | Chemical pharmaceutical preparations manufacturing | 49,548,000.00 | 550,254,820.01 | 368,351,938.96 | 252,991,613.69 | 23,059,928.24 | 9,375,847.60 | | Qinghai Lukang Dadi Pharmaceutical Co., Ltd. | Subsidiary | Traditional Chinese medicine, chemical pharmaceutical preparations manufacturing | 40,000,000.00 | 136,665,626.74 | 82,735,787.40 | 45,436,649.89 | 5,344,444.86 | 4,980,077.04 | | Shandong Lukang Sherile Pharmaceutical Co., Ltd. | Subsidiary | Veterinary drug manufacturing | 255,880,000.00 | 2,649,810,600.08 | 1,406,148,420.30 | 1,324,111,925.38 | 94,703,616.69 | 75,699,025.94 | | Shandong Lukang Zhonghe Environmental Protection Technology Co., Ltd. | Subsidiary | Hazardous waste treatment, environmental engineering construction | 50,000,000.00 | 225,160,997.59 | 127,537,977.49 | 124,301,890.53 | 17,654,633.17 | 14,809,182.69 | [Other Disclosures](index=16&type=section&id=Other%20Disclosures) This section discloses potential policy, market, R&D, and raw material price fluctuation risks, and updates on the recovery of land acquisition compensation for the South Plant area, with the company planning to address these risks through policy research, market monitoring, careful R&D evaluation, and strengthened supplier management - The company faces risks from changes in pharmaceutical industry policies, such as drug approval, quality regulation, and centralized procurement[66](index=66&type=chunk) - Intense market competition and drug homogeneity create pressure on pricing, technological innovation, and market share for the company[66](index=66&type=chunk) - New drug R&D is capital-intensive, involving long cycles, high costs, and uncertain success rates[66](index=66&type=chunk) - Fluctuations in raw material prices directly impact the company's profitability, prompting the company to strengthen supplier management and optimize procurement strategies[67](index=67&type=chunk) - The remaining **CNY 308.119 million** of land acquisition compensation for the South Plant area has not yet been received, and the company will closely monitor its recovery[67](index=67&type=chunk) Part IV [Corporate Governance, Environment, and Society](index=17&type=section&id=Item%20IV%20Corporate%20Governance%2C%20Environment%2C%20and%20Society) [Profit Distribution or Capital Reserve Conversion Plan](index=17&type=section&id=Profit%20Distribution%20or%20Capital%20Reserve%20Conversion%20Plan) The company's profit distribution or capital reserve conversion plan is not applicable for this reporting period - The company's proposed semi-annual profit distribution plan and capital reserve conversion plan are "No," meaning no distribution or conversion[70](index=70&type=chunk) [Environmental Information of Listed Companies and Their Major Subsidiaries Included in the List of Enterprises Required to Disclose Environmental Information](index=17&type=section&id=Environmental%20Information%20of%20Listed%20Companies%20and%20Their%20Major%20Subsidiaries%20Included%20in%20the%20List%20of%20Enterprises%20Required%20to%20Disclose%20Environmental%20Information) The company and **seven** major subsidiaries are included in the list of enterprises required to disclose environmental information, with query indexes provided for their environmental information disclosure reports, demonstrating the company's compliance in environmental governance - The company and **seven** subsidiaries are included in the list of enterprises required to disclose environmental information[70](index=70&type=chunk) - Query indexes for the environmental information disclosure reports of the company and its subsidiaries are provided[70](index=70&type=chunk) Part V [Significant Matters](index=19&type=section&id=Item%20V%20Significant%20Matters) [Fulfillment of Commitments](index=19&type=section&id=Fulfillment%20of%20Commitments) This section discloses the fulfillment of commitments by the company's actual controller and shareholder, Hualu Group, regarding avoiding horizontal competition, including their commitment to no horizontal competition, measures to prevent new competing businesses, and solutions for overlapping drug approvals for Rosuvastatin Calcium Tablets and Tadalafil Tablets, with all commitments strictly fulfilled on schedule - Hualu Group commits that there is no horizontal competition with Lukang Pharmaceutical and will take necessary measures to avoid new competing businesses[73](index=73&type=chunk)[74](index=74&type=chunk)[75](index=75&type=chunk)[77](index=77&type=chunk) - Hualu Group commits to resolving the issue of overlapping drug approvals with Xinhua Pharmaceutical for Rosuvastatin Calcium Tablets and Tadalafil Tablets by August 2025, including one party ceasing production and resolving the issue through asset transfer or business adjustment within **three years**[76](index=76&type=chunk) - During the reporting period, all commitments made by Hualu Group were strictly fulfilled[73](index=73&type=chunk)[74](index=74&type=chunk)[75](index=75&type=chunk)[76](index=76&type=chunk)[77](index=77&type=chunk) [Material Litigation and Arbitration Matters](index=24&type=section&id=Material%20Litigation%20and%20Arbitration%20Matters) During the reporting period, the company had no material litigation or arbitration matters - The company had no material litigation or arbitration matters during this reporting period[77](index=77&type=chunk) [Material Related Party Transactions](index=24&type=section&id=Material%20Related%20Party%20Transactions) This section discloses the company's related party transactions involving the purchase and sale of goods and provision/acceptance of services; from January to June 2025, actual purchases from and services accepted from related parties totaled **CNY 21.9244 million**, while sales to and services provided to related parties totaled **CNY 3.2386 million** 2025 Jan-Jun Related Party Transactions Related to Daily Operations | Related Party Transaction Category | Related Party | 2025 Estimated Amount (CNY 10,000) | 2025 Jan-Jun Actual Amount (CNY 10,000) | | :--- | :--- | :--- | :--- | | Purchase of goods and acceptance of services from related parties | Shandong Xinhua Pharmaceutical Co., Ltd. | 4,100.00 | 1,697.64 | | | Shandong Hualu Hengsheng Chemical Co., Ltd. | 450.00 | 47.99 | | | Shandong Hualu Group Co., Ltd. | 50.00 | 23.58 | | | Shandong Provincial Environmental Protection Science Research and Design Institute Co., Ltd. | 700.00 | 0.00 | | | Beijing Yujing Health Technology Co., Ltd. | 650.00 | 423.23 | | **Subtotal** | | **5,950.00** | **2,192.44** | | Sale of goods and provision of services to related parties | Shandong Xinhua Pharmaceutical Co., Ltd. | 1,200.00 | 210.00 | | | Shandong Lukang Haoliyou Biotechnology Development Co., Ltd. | 265.00 | 113.86 | | **Subtotal** | | **1,465.00** | **323.86** | | **Total** | | **7,415.00** | **2,516.30** | [Material Contracts and Their Performance](index=26&type=section&id=Material%20Contracts%20and%20Their%20Performance) This section discloses the company's guarantees for its subsidiaries; during the reporting period, the total amount of guarantees provided to subsidiaries was **CNY 1,021,000,000.00**, with a period-end guarantee balance of **CNY 357,800,758.24**, and the company has no external guarantees 2025 Semi-Annual Company Guarantee Total | Indicator | Amount (CNY) | | :--- | :--- | | Total guarantees provided to subsidiaries during the reporting period | 1,021,000,000.00 | | Total guarantee balance for subsidiaries at period-end (B) | 357,800,758.24 | | Total guarantees (A+B) | 357,800,758.24 | - The company has no guarantees provided to its controlling shareholder, actual controller, or their related parties[82](index=82&type=chunk) Part VI [Share Changes and Shareholder Information](index=27&type=section&id=Item%20VI%20Share%20Changes%20and%20Shareholder%20Information) [Share Capital Changes](index=27&type=section&id=Share%20Capital%20Changes) During the reporting period, there were no changes in the company's total share capital or share structure - During the reporting period, there were no changes in the company's total share capital or share structure[85](index=85&type=chunk) [Shareholder Information](index=27&type=section&id=Shareholder%20Information) As of the end of the reporting period, the company had **124,134** common shareholders; Hualu Holding Group Co., Ltd. is the largest shareholder, holding **20.69%** of shares, and Hualu Investment Development Co., Ltd. among the top ten shareholders is a wholly-owned subsidiary of Hualu Holding Group Co., Ltd - As of the end of the reporting period, the total number of common shareholders was **124,134**[86](index=86&type=chunk) Top Ten Shareholders as of the End of the Reporting Period | Shareholder Name | Period-end Shareholding (shares) | Proportion (%) | Shareholder Nature | | :--- | :--- | :--- | :--- | | Hualu Holding Group Co., Ltd. | 185,896,620 | 20.69 | State-owned legal person | | Hualu Investment Development Co., Ltd. | 28,108,107 | 3.13 | State-owned legal person | | Fucheng Haifu Asset Management - Shandong Development Investment Holding Group Co., Ltd. - Fucheng Haifutong Xinyi No. 2 Single Asset Management Plan | 8,800,000 | 0.98 | Domestic non-state-owned legal person | | China Merchants Bank Co., Ltd. - Southern CSI 1000 ETF | 6,662,630 | 0.74 | Domestic non-state-owned legal person | | Lu Shanqing | 6,180,700 | 0.69 | Domestic natural person | | Hong Kong Securities Clearing Company Limited | 4,849,464 | 0.54 | Overseas legal person | | Jiang Zhidan | 4,675,189 | 0.52 | Domestic natural person | | Chen Yuan | 4,353,990 | 0.48 | Domestic natural person | | Chen Xun | 4,332,400 | 0.48 | Domestic natural person | | Zhou Jiang | 4,000,000 | 0.45 | Domestic natural person | - Hualu Investment Development Co., Ltd. is a wholly-owned subsidiary of Hualu Holding Group Co., Ltd., the company's controlling shareholder[90](index=90&type=chunk) Part VII [Bond-Related Information](index=30&type=section&id=Item%20VII%20Bond-Related%20Information) [Corporate Bonds (Including Enterprise Bonds) and Non-Financial Enterprise Debt Financing Instruments](index=30&type=section&id=Corporate%20Bonds%20(Including%20Enterprise%20Bonds)%20and%20Non-Financial%20Enterprise%20Debt%20Financing%20Instruments) During the reporting period, the company had no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments - The company has no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments[93](index=93&type=chunk) [Convertible Corporate Bonds](index=30&type=section&id=Convertible%20Corporate%20Bonds) During the reporting period, the company had no convertible corporate bonds - The company has no convertible corporate bonds[93](index=93&type=chunk) Part VIII [Financial Report](index=31&type=section&id=Item%20VIII%20Financial%20Report) [Financial Statements](index=31&type=section&id=Financial%20Statements) This section provides the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity for the first half of 2025, comprehensively presenting the company's financial position, operating results, and cash flow situation - Provides consolidated balance sheets, consolidated income statements, consolidated cash flow statements, and consolidated statements of changes in owners' equity[95](index=95&type=chunk)[102](index=102&type=chunk)[108](index=108&type=chunk)[114](index=114&type=chunk) - Provides parent company balance sheets, parent company income statements, parent company cash flow statements, and parent company statements of changes in owners' equity[98](index=98&type=chunk)[106](index=106&type=chunk)[111](index=111&type=chunk)[124](index=124&type=chunk) [Company's Basic Information](index=55&type=section&id=Company%27s%20Basic%20Information) This section introduces Shandong Lukang Pharmaceutical Co., Ltd.'s establishment date, unified social credit code, legal representative, registered capital, registered address, and main business scope, including chemical APIs and preparations, veterinary drug manufacturing, feed additive production and sales, and import/export trade - The company was established on February 15, 1993, with Peng Xin as the legal representative and a registered capital of **CNY 898,669,632.00**[129](index=129&type=chunk) - The company's main businesses include chemical APIs and preparations, chemical raw materials, excipients and intermediates for pharmaceutical production, veterinary drug processing and manufacturing, feed additive production and sales, and import/export trade[129](index=129&type=chunk) [Basis for Preparation of Financial Statements](index=55&type=section&id=Basis%20for%20Preparation%20of%20Financial%20Statements) The company's financial statements are prepared on a going concern basis, in accordance with the "Enterprise Accounting Standards" issued by the Ministry of Finance and relevant regulations, and the China Securities Regulatory Commission's "Information Disclosure Compilation Rules for Companies Issuing Securities to the Public No. 15," with accounting based on the accrual basis and historical cost measurement - Financial statements are prepared on a going concern basis, in compliance with "Enterprise Accounting Standards" and relevant regulations[130](index=130&type=chunk) - Accounting is based on the accrual basis, and except for certain financial instruments, all items are measured at historical cost[130](index=130&type=chunk) - The company possesses the ability to continue as a going concern for at least **twelve months** from the end of the reporting period, with no significant adverse risks[131](index=131&type=chunk) [Significant Accounting Policies and Estimates](index=55&type=section&id=Significant%20Accounting%20Policies%20and%20Estimates) This section details the significant accounting policies and estimates followed by the company in preparing its financial statements, covering business combinations, consolidated financial statements, financial instruments, inventories, fixed assets, intangible assets, revenue recognition, government grants, deferred income tax, and leases, ensuring the truthfulness and accuracy of financial information - Financial statements comply with enterprise accounting standards, accurately and completely reflecting the company's financial position[132](index=132&type=chunk) - Detailed explanations are provided for accounting treatments of business combinations under common control and non-common control[138](index=138&type=chunk)[140](index=140&type=chunk) - The preparation methods for consolidated financial statements are elaborated, with control as the basis for determining the consolidation scope[143](index=143&type=chunk)[145](index=145&type=chunk) - Classification, recognition, measurement, and impairment provision methods for financial assets and financial liabilities are clearly defined[163](index=163&type=chunk)[166](index=166&type=chunk)[176](index=176&type=chunk) - Rules are established for inventory classification, issuance pricing methods, inventory systems, and recognition and provision methods for inventory impairment[195](index=195&type=chunk)[196](index=196&type=chunk)[197](index=197&type=chunk)[199](index=199&type=chunk) - Detailed explanations are provided for the recognition criteria and depreciation methods of fixed assets, as well as the measurement and transfer criteria for construction in progress[216](index=216&type=chunk)[218](index=218&type=chunk)[219](index=219&type=chunk)[220](index=220&type=chunk) - The determination of useful lives for intangible assets, amortization methods, and the scope of R&D expenditure aggregation and capitalization conditions are elaborated[224](index=224&type=chunk)[227](index=227&type=chunk) - General principles for revenue recognition and specific principles for the company's sales revenue recognition are clarified[247](index=247&type=chunk)[250](index=250&type=chunk) - Types of government grants, accounting treatment methods, and criteria for distinguishing between asset-related and income-related grants are specified[254](index=254&type=chunk)[255](index=255&type=chunk)[256](index=256&type=chunk)[258](index=258&type=chunk) - Detailed explanations are provided for the recognition, measurement, and offsetting principles of deferred income tax assets/liabilities[260](index=260&type=chunk)[261](index=261&type=chunk) - Accounting treatments for leases as a lessee and lessor are elaborated, including right-of-use assets, lease liabilities, short-term leases, and low-value asset leases[262](index=262&type=chunk)[263](index=263&type=chunk)[265](index=265&type=chunk)[267](index=267&type=chunk) [Taxation](index=86&type=section&id=Taxation) This section discloses the main tax categories and rates for the company and its major subsidiaries, and lists subsidiaries enjoying high-tech enterprise tax incentives and small-profit enterprise tax incentives Main Tax Categories and Rates | Tax Category | Tax Basis | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax | Taxable sales revenue | 3%, 5%, 6%, 9%, 13% | | Corporate Income Tax | Taxable income | 15%, 20%, 25% | | Urban Maintenance and Construction Tax | Amount of turnover tax payable | 7%, 5% | | Education Surcharge | Amount of turnover tax payable | 3% | | Local Education Surcharge | Amount of turnover tax payable | 2% | - The company and several subsidiaries (e.g., Shandong Lukang Sherile Pharmaceutical Co., Ltd., Shandong Lukang Pharmaceutical Group Saite Co., Ltd.) are recognized as high-tech enterprises, enjoying a **15%** corporate income tax preferential rate[284](index=284&type=chunk)[285](index=285&type=chunk) - Some subsidiaries (e.g., Shandong Lukang International Trade Co., Ltd.) qualify as small-profit enterprises, enjoying a preferential policy of calculating taxable income at **25%** and paying corporate income tax at a **20%** rate, extended until December 31, 2027[285](index=285&type=chunk) [Notes to Consolidated Financial Statement Items](index=87&type=section&id=Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section provides detailed notes for major items in the consolidated financial statements, including monetary funds, financial assets held for trading, accounts receivable, inventories, construction in progress, intangible assets, short-term borrowings, notes payable, accounts payable, contract liabilities, employee benefits payable, taxes payable, other payables, long-term borrowings, deferred income, share capital, other comprehensive income, specific reserves, undistributed profits, operating revenue and costs, taxes and surcharges, selling expenses, administrative expenses, R&D expenses, financial expenses, other income, investment income, fair value change gains, credit impairment losses, asset impairment losses, asset disposal gains, non-operating income, non-operating expenses, income tax expenses, and cash flow statement items, offering specific information on period-end balances, beginning balances, current period changes, and reasons for changes - Monetary funds at period-end totaled **CNY 716,996,053.00**, a **7.19%** decrease from the beginning of the period, mainly due to a reduction in bank acceptance bill deposits[287](index=287&type=chunk) - Financial assets held for trading at period-end were **CNY 0**, down from **CNY 1,220,160.00** at the beginning of the period, as they were fully sold[289](index=289&type=chunk)[290](index=290&type=chunk) - Accounts receivable at period-end had a book value of **CNY 1,103,764,942.54**, a **17.37%** increase from the beginning of the period, mainly due to new accounts receivable for goods[293](index=293&type=chunk)[299](index=299&type=chunk) - Inventories at period-end had a book value of **CNY 1,258,666,581.05**, a **15.20%** decrease from the beginning of the period, mainly due to a reduction in inventory goods[323](index=323&type=chunk) - Construction in progress at period-end had a book value of **CNY 242,311,975.29**, a **98.85%** increase from the beginning of the period, mainly due to increased investment in construction projects[348](index=348&type=chunk)[350](index=350&type=chunk) - Short-term borrowings at period-end totaled **CNY 915,130,842.18**, a **4.97%** increase from the beginning of the period[369](index=369&type=chunk) - Long-term borrowings at period-end totaled **CNY 1,363,960,000.00**, a **19.10%** decrease from the beginning of the period, mainly due to optimized loan structure and repayment of prior loans[393](index=393&type=chunk) - Operating revenue for the current period was **CNY 3,153,993,569.88**, a **3.83%** decrease from the prior period; operating costs were **CNY 2,444,815,224.77**, a **3.87%** decrease from the prior period[417](index=417&type=chunk) - Net cash flow from operating activities for the current period was **CNY 312,337,278.58**, a **70.00%** increase from the prior period[446](index=446&type=chunk) [Research and Development Expenses](index=129&type=section&id=Research%20and%20Development%20Expenses) This section discloses the company's R&D expenditures for the first half of 2025, totaling **CNY 192,503,302.94**, comprising **CNY 138,184,253.75** in expensed R&D and **CNY 54,319,049.19** in capitalized R&D, with key capitalized R&D projects including innovative drug development and generic drug development 2025 Semi-Annual R&D Expenses by Nature | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | Employee compensation | 54,048,284.47 | 50,574,440.49 | | Material costs | 21,762,491.90 | 38,200,954.92 | | Utility costs | 12,762,050.62 | 13,159,777.76 | | Depreciation and amortization | 16,236,409.45 | 28,957,551.74 | | Other | 87,694,066.50 | 37,044,836.59 | | **Total** | **192,503,302.94** | **167,937,561.50** | | Of which: Expensed R&D | 138,184,253.75 | 158,893,369.08 | | Capitalized R&D | 54,319,049.19 | 9,044,192.42 | 2025 Semi-Annual Capitalized R&D Projects | Project | Beginning Balance (CNY) | Current Period Increase (Internal Development Expenses) (CNY) | Period-end Balance (CNY) | R&D Progress | Estimated Completion Time | | :--- | :--- | :--- | :--- | :--- | :--- | | Innovative Drug R&D | 51,521,791.52 | 0.00 | 51,521,791.52 | Phase I clinical trials | 2030 | | Generic Drug R&D | 70,377,089.47 | 54,319,049.19 | 98,197,890.82 | | | - The innovative drug R&D project CIGB-814 is in Phase I clinical trials, with an estimated completion in **2030**[456](index=456&type=chunk) [Interests in Other Entities](index=131&type=section&id=Interests%20in%20Other%20Entities) This section details the company's interests in subsidiaries, joint ventures, and associates, including the main operating locations, registered capital, business nature, shareholding percentages, and acquisition methods for each subsidiary, as well as key financial information for important non-wholly-owned subsidiaries and associates - The company owns multiple wholly-owned or controlling subsidiaries, with businesses covering veterinary drug manufacturing, chemical pharmaceutical preparations manufacturing, trade, and environmental engineering[459](index=459&type=chunk) Key Financial Information of Important Non-Wholly-Owned Subsidiaries (Period-end Balance) | Subsidiary Name | Current Assets (CNY) | Non-current Assets (CNY) | Total Assets (CNY) | Current Liabilities (CNY) | Non-current Liabilities (CNY) | Total Liabilities (CNY) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Shandong Lukang Pharmaceutical Group Saite Co., Ltd. | 267,485,589.44 | 282,769,230.57 | 550,254,820.01 | 180,352,881.05 | 1,550,000.00 | 181,902,881.05 | Key Financial Information of Important Non-Wholly-Owned Subsidiaries (Current Period Amount) | Subsidiary Name | Operating Revenue (CNY) | Net Profit (CNY) | Total Comprehensive Income (CNY) | Net Cash Flow from Operating Activities (CNY) | | :--- | :--- | :--- | :--- | :--- | | Shandong Lukang Pharmaceutical Group Saite Co., Ltd. | 252,991,613.69 | 9,375,847.60 | 9,375,847.60 | -16,353,578.97 | Key Financial Information of Important Associates (Period-end Balance/Current Period Amount) | Item | Shandong Lukang Haoliyou Biotechnology Development Co., Ltd. | | :--- | :--- | | Total Assets (CNY) | 213,618,201.86 | | Total Liabilities (CNY) | 83,135,434.56 | | Equity Attributable to Parent Company Shareholders (CNY) | 130,482,767.30 | | Net Profit (CNY) | -4,799,800.79 | | Total Comprehensive Income (CNY) | -4,799,800.79 | - Jining Lukang Property Management Co., Ltd. incurred excess losses, with unrecognized investment losses of **CNY 15,442.01** for the current period and cumulative unrecognized losses of **CNY 1,109,383.90**[474](index=474&type=chunk) [Government Grants](index=137&type=section&id=Government%20Grants) This section discloses the company's government grant liability items and grants recognized in current profit or loss for the first half of 2025; the period-end balance of government grants in deferred income is **CNY 162,484,304.36**, and total government grants recognized in current profit or loss for the current period amounted to **CNY 18,948,233.68**, with **CNY 7,970,323.70** related to assets and **CNY 10,977,909.98** related to income 2025 Semi-Annual Government Grant Liability Items | Financial Statement Item | Beginning Balance (CNY) | Current Period New Grants (CNY) | Current Period Transferred to Other Income (CNY) | Period-end Balance (CNY) | Asset/Income Related | | :--- | :--- | :--- | :--- | :--- | :--- | | Deferred Income | 165,724,728.06 | 4,729,900.00 | 7,970,323.70 | 162,484,304.36 | Asset-related | 2025 Semi-Annual Government Grants Recognized in Current Profit or Loss | Type | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | Asset-related | 7,970,323.70 | 7,400,054.30 | | Income-related | 10,977,909.98 | 72,879,378.50 | | **Total** | **18,948,233.68** | **80,279,432.80** | [Risks Related to Financial Instruments](index=138&type=section&id=Risks%20Related%20to%20Financial%20Instruments) The company faces credit risk, market risk (foreign exchange risk, interest rate risk), and liquidity risk in its operations, which are managed through measures such as depositing funds with highly-rated banks, setting credit limits, and providing for bad debts for credit risk; monitoring foreign currency financial assets/liabilities and interest-bearing debt for market risk; and ensuring sufficient cash for liquidity risk - The company faces **credit risk**, **market risk** (foreign exchange risk, interest rate risk), and **liquidity risk**[480](index=480&type=chunk) - Credit risk primarily arises from bank deposits, accounts receivable, and other receivables, managed by depositing with highly-rated banks, setting credit limits, and providing for bad debts[481](index=481&type=chunk) - Foreign exchange risk mainly stems from financial assets and liabilities denominated in USD or EUR[482](index=482&type=chunk) - Interest rate risk primarily arises from floating-rate bank loans and other interest-bearing debt, with company management responsible for monitoring interest rate risk[483](index=483&type=chunk) - Liquidity risk is managed by ensuring sufficient cash to repay maturing debts[485](index=485&type=chunk) [Disclosure of Fair Value](index=139&type=section&id=Disclosure%20of%20Fair%20Value) This section discloses the company's assets and liabilities measured at fair value at period-end; the total assets continuously measured at fair value amounted to **CNY 460,651,385.07**, primarily including accounts receivable financing and other equity instrument investments Period-end Assets and Liabilities Measured at Fair Value | Item | Period-end Fair Value (CNY) | | :--- | :--- | | **I. Continuous Fair Value Measurement** | | | (I) Financial assets held for trading | 460,651,385.07 | | 1. Financial assets measured at fair value through profit or loss | 460,651,385.07 | | (4) Accounts receivable financing | 444,234,258.86 | | (5) Other equity instrument investments | 16,417,126.21 | | **Total assets continuously measured at fair value** | **460,651,385.07** | - Other equity instrument investments at period-end totaled **CNY 16,417,126.21**, with a loss of **CNY 1,387,189.78** recognized in other comprehensive income for the current period[490](index=490&type=chunk) [Related Parties and Related Party Transactions](index=141&type=section&id=Related%20Parties%20and%20Related%20Party%20Transactions) This section provides detailed information on the company's related parties and related party transactions; Hualu Holding Group Co., Ltd. is the company's controlling shareholder with a **23.81%** stake, and the company engages in transactions such as purchasing/selling goods, providing services, related leases, and related guarantees with related parties under common control (e.g., Shandong Xinhua Pharmaceutical Co., Ltd.) and associates (e.g., Shandong Lukang Haoliyou Biotechnology Development Co., Ltd.) - Hualu Holding Group Co., Ltd. is the company's controlling shareholder, holding **23.81%** of shares, with the ultimate controlling party being the Shandong Provincial State-owned Assets Supervision and Administration Commission[492](index=492&type=chunk) - The company engages in purchasing/selling goods and accepting services with related parties under common control, such as Shandong Hualu Hengsheng Chemical Co., Ltd. and Shandong Xinhua Pharmaceutical Co., Ltd.[493](index=493&type=chunk)[494](index=494&type=chunk) - The company provides office facility leasing services to Shandong Lukang Haoliyou Biotechnology Development Co., Ltd., recognizing lease income of **CNY 981,579.00** for the current period[497](index=497&type=chunk) - Hualu Holding Group Co., Ltd. provides multiple guarantees for the company, totaling hundreds of millions of CNY, with some guarantees not yet fulfilled[498](index=498&type=chunk) - The company had intercompany borrowings with Hualu Holding Group Co., Ltd., with a beginning balance of **CNY 350 million**, which has been reduced to **CNY 0** by period-end[499](index=499&type=chunk) - The company pays loan interest and trademark usage fees to Hualu Holding Group Co., Ltd.[502](index=502&type=chunk) - Discloses outstanding related party items including accounts receivable, prepayments, other receivables, accounts payable, other payables, dividends payable, and long-term borrowings[504](index=504&type=chunk)[506](index=506&type=chunk)[507](index=507&type=chunk) [Commitments and Contingencies](index=146&type=section&id=Commitments%20and%20Contingencies) This section states that the company had no significant commitments or important contingencies requiring disclosure during the reporting period - The company had no significant commitments during the reporting period[509](index=509&type=chunk) - The company had no important contingencies requiring disclosure[510](index=510&type=chunk) [Notes to Major Items in Parent Company Financial Statements](index=148&type=section&id=Notes%20to%20Major%20Items%20in%20Parent%20Company%20Financial%20Statements) This section provides detailed notes for major items in the parent company's financial statements, including accounts receivable, other receivables, long-term equity investments, operating revenue and costs, and investment income, offering specific information on period-end balances, beginning balances, current period changes, and reasons for changes - The parent company's accounts receivable at period-end had a book value of **CNY 545,083,506.80**, a **1.54%** increase from the beginning of the period[515](index=515&type=chunk) - The parent company's other receivables at period-end totaled **CNY 385,819,184.12**, a **1.96%** increase from the beginning of the period, primarily including land acquisition compensation and intercompany balances[521](index=521&type=chunk)[525](index=525&type=chunk) - The parent company's dividends receivable at period-end totaled **CNY 292,542,300.00**, a **15.84%** increase from the beginning of the period, mainly from Shandong Lukang Sherile Pharmaceutical Co., Ltd.[523](index=523&type=chunk) - The parent company's investments in subsidiaries at period-end had a book value of **CNY 1,160,456,218.18**, a **1.66%** increase from the beginning of the period[535](index=535&type=chunk) - The parent company's operating revenue for the current period was **CNY 1,465,338,231.15**, a **16.09%** decrease from the prior period; operating costs were **CNY 1,124,674,503.58**, a **14.85%** decrease from the prior period[542](index=542&type=chunk) - The parent company's investment income for the current period was **CNY 47,255,381.23**, compared to **CNY -3,877,509.50** in the prior period, mainly due to increased investment income from long-term equity investments accounted for using the cost method[543](index=543&type=chunk) [Supplementary Information](index=158&type=section&id=Supplementary%20Information) This section provides supplementary information for the company's first half of 2025, including a detailed statement of non-recurring gains and losses and net asset return and earnings per share, with total non-recurring gains and losses amounting to **CNY 6,755,741.66** and basic earnings per share of **CNY 0.12/share** 2025 Semi-Annual Non-Recurring Gains and Losses Details | Item | Amount (CNY) | | :--- | :--- | | Gains or losses from disposal of non-current assets | 54,358.85 | | Government grants recognized in current profit or loss | 10,586,633.68 | | Gains or losses from changes in fair value of financial assets and liabilities held by non-financial enterprises, and gains or losses from disposal of financial assets and liabilities | 8,893.63 | | Debt restructuring gains or losses | 10,956.05 | | Other non-operating income and expenses | -3,991,125.84 | | Less: Income tax impact | 222,047.15 | | Minority interest impact (after tax) | -308,072.44 | | **Total** | **6,755,741.66** | 2025 Semi-Annual Net Asset Return and Earnings Per Share | Profit for the Reporting Period | Weighted Average Return on Net Assets (%) | Basic Earnings Per Share (CNY) | Diluted Earnings Per Share (CNY) | | :--- | :--- | :--- | :--- | | Net profit attributable to common shareholders of the company | 2.70 | 0.12 | 0.12 | | Net profit attributable to common shareholders of the company after deducting non-recurring gains and losses | 2.53 | 0.11 | 0.11 |

一、修订《公司章程》及取消监事会情况 根据《中华人民共和国公司法》、《中华人民共和国证券法》、《上市公司章程 指引》及中国证券监督管理委员会发布的《关于新配套制度规则实施相关过渡安 排》等法律法规、规范性文件的最新规定，拟对《公司章程》中的相关条款进行 修订和完善。本次公司章程修订的具体情况详见附表，修订后的《公司章程》详 见本公告附件。 本次《公司章程》修订生效后，公司将不再设置监事会或监事，监事会的职 权由董事会审计委员会行使，公司《监事会议事规则》等监事会相关制度相应废 止。 证券代码：600789 证券简称：鲁抗医药 公告编号：2025-041 山东鲁抗医药股份有限公司 关于取消监事会、修订《公司章程》及修订、制定和废止 部分治理制度的公告 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。 山东鲁抗医药股份有限公司（以下简称"公司"）于 2025 年 8 月 27 日召开 的第十一届董事会第八次会议审议并通过《关于取消监事会及修订〈公司章程〉 的议案》《关于修订、制定和废止部分治理制度的议案》,现就相关情况公告如下： 本 ...

关于收到南厂区土地收储补偿款的进展公告 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。 证券代码:600789 证券简称:鲁抗医药 公告编号:2025-042 山东鲁抗医药股份有限公司 2024年9月29日，公司收到第一笔土地收储补偿款2,000万元，2025年5月22 日，公司收到第二笔土地补偿款3,227.70万元。具体内容详见公司2024年9月30 日、2025年5月23日披露的《关于收到南厂区土地收储补偿款的进展公告》（公 告编号：2024-048、2025-025）。 二、本次收储相关事项的进展情况 2025年8月27日，公司收到第三笔土地补偿款5,000万元。截至目前公司已 收到土地补偿款10,227.70万元，尚未收到补偿款余额25,811.90万元。公司将 根据《企业会计准则》等相关规定，对上述补偿款进行会计处理，具体的会计 处理和对相关财务数据的影响以会计师事务所年度审计确认后的结果为准。 三、其他说明 特此公告。 一、情况概述 山东鲁抗医药股份有限公司（以下简称"公司"）分别于2022年8月10日召 开第十 ...

北自科技8月25日披露的半年报显示，公司上半年实现营业收入9.46亿元，同比增长1.41%；归属于上市 公司股东的净利润7614.65万元，同比增长6.82%；基本每股收益0.47元。 ...

证券代码：600789 证券简称：鲁抗医药 公告编号：2025—038 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 获得上海证券交易所审核通过的公告 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。 山东鲁抗医药股份有限公司（以下简称"公司"）于 2025 年 8 月 20 日收到上 海证券交易所出具的《关于山东鲁抗医药股份有限公司向特定对象发行股票的交 易所审核意见》，具体审核意见如下： "山东鲁抗医药股份有限公司向特定对象发行股票申请符合发行条件、上市 条件和信息披露要求。本所将在收到你公司申请文件后提交中国证监会注册。" 公司本次向特定对象发行股票事项尚需获得中国证券监督管理委员会（以下 简称"中国证监会"）同意注册后方可实施，最终能否获得中国证监会同意注册 的决定及其时间尚存在不确定性。公司将根据进展情况，严格按照上市公司向特 定对象发行股票相关法律法规的规定和要求及时履行信息披露义务，敬请投资者 注意。 特此公告。 山东鲁抗医药股份有限公司董事会 ...