证券日报网讯 1月29日，福元医药发布公告称，公司2025年度财务报表及内控审计签字注册会计师由廖 屹峰、朱俊杰变更为廖屹峰、简艳会。 （文章来源：证券日报） ...

证券代码：601089 证券简称：福元医药 公告编号：临 2026-004 北京福元医药股份有限公司 关于变更签字会计师的公告 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。 北京福元医药股份有限公司（以下简称"公司"）于 2025 年 3 月 28 日、4 月 28 日分别召开第二届董事会第十六次会议和 2024 年年度股东大会，审议通过了《关 于续聘会计师事务所的议案》，同意续聘天健会计师事务所（特殊普通合伙）（以 下简称"天健会计师事务所"）为公司 2025 年度财务及内部控制审计机构。 具体详见公司于 2025 年 4 月 1 日披露的《北京福元医药股份有限公司关于续聘 会计师事务所的公告》（公告编号：临 2025-020），以及 2025 年 4 月 29 日披露的 《北京福元医药股份有限公司 2024 年年度股东大会决议公告》（公告编号：临 2025-029）。 近日，公司收到天健会计师事务所出具的《关于变更签字注册会计师的函》。 现将相关情况公告如下： 一、本次变更签字会计师的情况 天健会计师事务所作为公司 20 ...

Group 1: New Consumption - Beauty Industry Insights - The GMV of cosmetics on WeChat Video Account is projected to reach 12.18 billion yuan in 2025, with domestic brands expected to dominate the channel [5][6] - In 2025, domestic brands are anticipated to hold an 80.4% market share on WeChat Video Account, with top brands like Zheng Mingming and Lin Qingxuan leading the sales [6][7] - Skincare products are expected to capture 68.9% of the market share in the WeChat Video Account channel, indicating a higher premium potential compared to other categories [6][7] Group 2: WeChat Video Account as a Competitive Platform - WeChat Video Account is seen as a new battleground for beauty brands, offering a unique advantage by integrating public and private domains, allowing brands to retain users for long-term engagement [7] - The beauty-related voice volume in the WeChat ecosystem reached 10.39 million from October 2024 to September 2025, marking a 48% year-on-year growth, with video account voice volume increasing by 121.9% [7] - The platform's clear commercialization logic and empowerment system provide beauty brands with sustainable growth opportunities, making it crucial for brands to establish a presence on this platform [7] Group 3: Pharmaceutical Industry - Fuyuan Pharmaceutical Overview - Fuyuan Pharmaceutical, established in 1999 and listed in 2022, focuses on generic drugs and is expanding into innovative drugs, with a robust portfolio of 209 domestic drug registrations [13][14] - The company reported a revenue of 3.209 billion yuan from drug formulations in 2024, with a compound annual growth rate (CAGR) of 7.75% from 2019 to 2024, indicating stable growth [14][15] - Fuyuan is strategically investing in small nucleic acid innovative drugs, with 23 patents filed, and its core pipeline includes FY101, which is in Phase I clinical trials, targeting a large market of patients with dyslipidemia [15][16] Group 4: Financial Projections for Fuyuan Pharmaceutical - The company is expected to achieve net profits of 465 million yuan, 481 million yuan, and 520 million yuan from 2025 to 2027, with growth rates of -5%, 4%, and 8% respectively [16] - The current price-to-earnings (PE) ratios for these years are projected at 30X, 29X, and 27X, indicating a favorable valuation compared to peers [16]

华源证券研报指出，福元医药仿制药基本盘稳健，小核酸打开成长天花板。公司在稳固仿制药基本盘的 同时，近年来加速布局小核酸创新药，有望打开中长期成长空间。充裕的资金储备与稳健的经营性现金 流，使公司具备以自有资金推进转型创新药的能力。展望未来，1-8批集采品种全国统一接续采购即将 落地，已中标品种若接续有望延续报量、未中标品种或存在边际修复空间；叠加第十一批集采新中标品 种有望贡献增量，仿制药主业有望持续为公司贡献稳定的现金流。公司坚持"仿创结合"的研发战略，前 瞻性切入小核酸赛道，研发投入持续加码，研发费用从2021年的1.8亿元提升至2024年的4.17亿元。考虑 到公司仿制药基本盘稳健，小核酸创新药布局具备长期成长弹性，以及账面现金充沛，首次覆盖，给 予"买入"评级。 ...

Investment Rating - The report assigns an investment rating of "Buy" for the company, indicating a positive outlook based on its stable generics business and growth potential in small nucleic acid drugs [5]. Core Insights - The company has a solid foundation in generics, with a stable growth phase, and is strategically positioning itself in the small nucleic acid innovation space, which is expected to drive long-term growth [7][10]. - The generics business is projected to maintain steady cash flow, while the innovative drug segment is anticipated to create a second growth curve, enhancing the company's overall valuation [8][10]. Summary by Relevant Sections Market Performance - The closing price of the company's stock is 28.82 yuan, with a market capitalization of 13,833.60 million yuan [3]. Financial Forecast and Valuation - Revenue projections for 2023 to 2027 are as follows: 3,340 million yuan (2023), 3,446 million yuan (2024), 3,472 million yuan (2025E), 3,852 million yuan (2026E), and 4,266 million yuan (2027E) [6]. - The expected growth rates for revenue are 3.07% (2023), 3.17% (2024), 0.75% (2025), 10.95% (2026), and 10.74% (2027) [6]. - The projected net profit for the same years is 489 million yuan (2023), 489 million yuan (2024), 465 million yuan (2025), 481 million yuan (2026), and 520 million yuan (2027) [6]. - The company’s price-to-earnings (P/E) ratios are estimated at 28.30 (2023), 28.31 (2024), 29.78 (2025), 28.76 (2026), and 26.61 (2027) [6]. Business Overview - The company, formerly known as Wansheng Pharmaceutical, has been in the generics business for over 20 years and has recently expanded into innovative drugs, particularly small nucleic acids [7]. - As of the first half of 2025, the company holds 209 domestic drug registration approvals, with a revenue contribution of 32.09 billion yuan from drug formulations, accounting for 93% of total revenue [7][20]. - The company’s core therapeutic areas include cardiovascular, diabetes, digestive, skin diseases, and chronic kidney disease, which collectively contribute 77% of its revenue [20]. Growth Drivers - The generics business is entering a stable growth phase, with a compound annual growth rate (CAGR) of 7.75% from 2019 to 2024 [10]. - The company is actively investing in small nucleic acid drugs, with R&D expenses increasing from 180 million yuan in 2021 to 417 million yuan in 2024 [10][49]. - The N-ER platform for nucleic acid drug delivery has been established, supporting multiple projects in clinical development [50]. Competitive Position - The company has successfully navigated the challenges posed by national drug procurement policies, with a significant portion of its core products already included in procurement programs [32][43]. - The upcoming unified procurement for previously selected products is expected to stabilize cash flow and enhance the company's competitive position in the generics market [42][43].

格隆汇1月23日丨福元医药(601089.SH)公布，公司收到了国家药品监督管理局颁发的盐酸曲唑酮片（规 格：50mg）（简称"该药品"）《药品注册证书》（证书编号：2026S00087），批准该药品生产。盐酸 曲唑酮片由Angelini研发，最早于1971年10月15日获意大利批准上市，原研未在中国获批上市，本品适 用于抑郁症的治疗，对伴有或不伴有焦虑的患者均有效。 ...

证券代码：601089 证券简称：福元医药 公告编号：临 2026-003 北京福元医药股份有限公司 关于盐酸曲唑酮片获得药品注册证书的公告 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。 四、对公司的影响及风险提示 该药品获得《药品注册证书》，将进一步丰富公司产品线，有助 于提升公司产品的市场竞争力。但药品的销售情况可能受到国家政策、 市场环境变化等因素影响，具有较大不确定性。敬请广大投资者谨慎 近日，北京福元医药股份有限公司（以下简称"公司"）收到了 国家药品监督管理局（以下简称"国家药监局"）颁发的盐酸曲唑酮 片（规格：50mg）（以下简称"该药品"）《药品注册证书》（证书 编号：2026S00087），批准该药品生产。现将相关情况公告如下： 药品名称 药品通用名称：盐酸曲唑酮片 英文名/拉丁名：Trazodone Hydrochloride Tablets 剂型 片剂 注册分类 化学药品3类 规格 50mg 药品批准文号 国药准字H20263075 药品注册标准编号 YBH34482025 处方药/非处方药 处方药 ...

证券代码：601089 证券简称：福元医药 公告编号：临 2026-002 北京福元医药股份有限公司 关于子公司通过 GMP 符合性检查的公告 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。 近日，北京福元医药股份有限公司(以下简称"公司")全资子公 司浙江爱生药业有限公司（以下简称"浙江爱生"）收到药品 GMP 符 合性检查告知书（编号：浙 2025 第 0223 号）。现将相关情况公告如 下： 一、药品 GMP 检查目录 二、主要生产品种的市场情况 | 减退的替代治疗；抗甲状 | 业有限公司、默克制药(江苏)有限公司。根 | | --- | --- | | 腺药物治疗甲状腺功能 | 据米内网数据显示，2025年前三季度中国三 | | 亢进症的辅助治疗；甲状 | 大终端六大市场左甲状腺素钠片的销售额 | | 腺癌术后的抑制治疗；甲 | 约为103,480万元，其中城市公立医院和县 | | 状腺抑制试验。 | 级公立医院销售额为64,663万元，城市社区 | | | 中心和乡镇卫生院销售额为9,715万元，城 | | | 市 ...

福元医药公告，公司全资子公司浙江爱生药业有限公司收到药品GMP符合性检查告知书。浙江爱生本 次通过药品GMP现场符合性检查，表明浙江爱生相关剂型生产线符合GMP要求，有利于公司继续保持 稳定的生产能力，满足市场需求。 ...

福元医药公告称，近日，其全资子公司浙江爱生药业收到药品GMP符合性检查告知书。检查范围为片 剂制剂Ⅰ车间及生产线，检查时间为2025年10月15 - 17日，结果符合相关规范要求。其中，左甲状腺素 钠片是主要生产品种之一，2025年前三季度中国三大终端六大市场销售额约10.35亿元。此次通过检查 利于公司保持稳定生产能力，但药品销售受国家政策、市场环境等因素影响，存不确定性。 ...