证券代码：601607 证券简称：上海医药 公告编号：临2024-088 上海医药集团股份有限公司 关于阿法骨化醇原料药上市申请获得批准的公告 二、该药物相关的信息 阿法骨化醇主要用于治疗内源性 1,25-二羟基维生素 D3 产生不足所致的钙代 谢紊乱性疾病，由丹麦 LEO 公司研发，软胶囊剂 1978 年英国上市。2023 年 2 月， 信谊万象就该药物向国家药监局递交上市申请并获受理；近日，信谊万象收到国 家药监局下发的《化学原料药上市申请批准通知书》。截至本公告日，公司针对 该药物已投入研发费用约人民币 436 万元。 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 近日，上海医药集团股份有限公司（以下简称"上海医药"或"公司"）控 股子公司上海信谊万象药业股份有限公司（以下简称"信谊万象"）的阿法骨化 醇原料药（以下简称"该药物"）收到国家药品监督管理局（以下简称"国家药监 局"）颁发的《化学原料药上市申请批准通知书》（通知书编号：2024YS00954）， 该药物获得批准生产。 一、该药物基本情况 名称：阿法骨 ...

证券代码：601607 证券简称：上海医药 编号：临 2024-087 上海医药集团股份有限公司 关于 2019 年 A 股股票期权激励计划 首次授予股票期权第三个行权期及预留股票期权第二个行 权期限制行权期间的提示性公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 三、公司将按照有关规定及时向中证登上海分公司申请办理限制行权相关事 宜。 1 特此公告。 上海医药集团股份有限公司 董事会 二零二四年九月二十六日 根据《上市公司股权激励管理办法》、《上海证券交易所上市公司自律监管 指南第2号—业务办理》、《上海医药集团股份有限公司2019年股票期权激励计 划（草案）》及中国证券登记结算有限责任公司上海分公司（以下简称"中证登 上海分公司"）关于股票期权自主行权的相关规定，并结合上海医药集团股份有 限公司（以下简称"公司"）2024年第三季度报告披露计划，现对公司2019年股 票期权激励计划首次授予股票期权第三个行权期及预留股票期权第二个行权期 限制行权期间（以下简称"本次限制行权期"）公告如下： 一、首次授予股票期权第 ...

上海医药集团股份有限公司 证券代码：601607 证券简称：上海医药 编号：临 2024-086 关于子公司成为氨磺必利口服溶液上市许可持有人的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 近日，上海医药集团股份有限公司（以下简称"上海医药"或"公司"）控 股子公司上海信谊金朱药业有限公司（以下简称"信谊金朱"）收到国家药品监 督管理局（以下简称"国家药监局"）颁发的《药品补充申请批准通知书》（通 知书编号：2024B02634），氨磺必利口服溶液（以下简称"该药品"）上市许可 持有人变更为上海信谊金朱药业有限公司。 一、该药品的基本情况 药品名称：氨磺必利口服溶液 剂型：口服溶液剂 规格：60ml:6g 注册分类：化学药品 药品批准文号：国药准字H20243190 审批结论：批准本品上市许可持有人由"山东朗诺制药有限公司"变更为 "上海信谊金朱药业有限公司"。 二、该药品的相关信息 信谊金朱成为氨磺必利口服溶液的上市许可持有人，进一步丰富了公司产品线， 有利于提升公司市场竞争力。 因受国家政策、市场环境等不确定 ...

Financial Performance - The net profit attributable to shareholders for the first half of 2024 is approximately CNY 2.94 billion, with a proposed cash dividend of CNY 0.80 per 10 shares, totaling CNY 296.28 million, which accounts for 10.07% of the net profit[4]. - The company's operating revenue for the first half of the year reached ¥139.41 billion, an increase of 5.14% compared to ¥132.59 billion in the same period last year[23]. - Net profit attributable to shareholders was ¥2.94 billion, reflecting a growth of 12.72% from ¥2.61 billion year-on-year[23]. - The basic earnings per share increased to ¥0.79, up 11.27% from ¥0.71 in the previous year[25]. - The total assets of the company at the end of the reporting period were ¥221.34 billion, representing a 4.42% increase from ¥211.97 billion at the end of the previous year[23]. - The total amount of non-recurring gains and losses was ¥236.75 million, after accounting for tax effects and minority interests[26]. - The company reported a significant increase in long-term receivables, which rose by 161.71% to RMB 596.54 million from RMB 227.94 million year-on-year[61]. - The company’s total assets included RMB 62.10 billion in overseas assets, accounting for 2.81% of total assets[62]. Dividend and Share Capital - The total share capital as of June 30, 2024, is 3,703,523,491 shares, which will be used as the basis for the dividend distribution[4]. - The report does not include any capital reserve fund conversion into share capital for this reporting period[4]. - The company will not conduct a capital reserve transfer to increase share capital during this reporting period[129]. - A cash dividend of 0.80 yuan per 10 shares (including tax) is proposed for shareholders, based on a total share capital of 3,703,523,491 shares as of June 30, 2024[129]. Risk Management - There are no significant risks that materially affect the company's operations during the reporting period[5]. - The company emphasizes the importance of risk awareness regarding future plans and development strategies[4]. - The company has implemented strict internal control measures to prevent losses from derivative trading, including clear approval processes and risk management protocols[76]. - The report highlights various risks associated with derivative investments, including market risk, credit risk, and operational risk[76]. Corporate Governance - The report confirms that all board members attended the board meeting, ensuring the accuracy and completeness of the financial report[6]. - The company strictly adheres to the corporate governance code as per the Hong Kong listing rules, although it currently does not meet the gender diversity requirement on the board[134]. - The audit committee has reviewed and approved the accounting treatment methods adopted in the 2024 half-year report[138]. - The company is actively seeking suitable candidates to comply with the gender diversity regulations in the board of directors[134]. Research and Development - The company invested RMB 1.404 billion in R&D, a year-on-year increase of 15.26%, accounting for 11.03% of industrial sales[46]. - The company has 64 new drug pipelines, including 50 innovative drugs, with several in critical research and clinical phases[46]. - The company is actively advancing its cell therapy industrial layout and has initiated clinical trials for its first CAR-T product, B019[45]. - The company is actively responding to the "Healthy China 2030" strategy by increasing innovation investments and optimizing its product offerings[29]. Market and Sales Performance - The pharmaceutical industry segment reported revenue of RMB 12.73 billion, a year-on-year decline of 13.37%, while the pharmaceutical commerce segment generated revenue of RMB 126.68 billion, a year-on-year increase of 7.45%[43]. - The sales amount of the CSO contract promotion business surged to approximately CNY 4 billion, representing a year-on-year increase of 172%[51]. - The sales of non-pharmaceutical businesses, including medical devices and health products, reached approximately CNY 21.8 billion, with a year-on-year growth of about 11.12%[51]. - The sales of health food products from Shanghai Shenyin Microecology Technology Co., Ltd. reached CNY 173 million, reflecting a year-on-year increase of 331%[55]. Investment and Financial Activities - Investment income surged by 223.81% to RMB 246.36 million, compared to a loss of RMB 198.99 million in the previous year[57]. - The company reported a total guarantee amount of 2,524,289,236.08 RMB, which accounts for 3.61% of the company's net assets[167]. - The company has a total of 870,850.00 RMB in credit business with a related party, with actual transactions amounting to 209,257.89 RMB[165]. - The company’s total loan amount from a related party was 209,257.89 RMB during the reporting period[165]. Employee and Stock Options - Shanghai Pharmaceuticals employed 49,234 staff as of June 30, 2024, including 1,674 R&D personnel, focusing on enhancing employee performance and compensation linked to company performance[93]. - The company has implemented an employee stock option incentive plan, with various phases of stock options being exercised as per the announcements[130][132]. - The stock options granted to middle management and core personnel accounted for 77.911% of the total options granted[101]. - The total number of stock options granted under the incentive plan is 24.35572 million, accounting for no more than 1% of the total shares issued by the company as of the report date[3]. Environmental Responsibility - In 2024, the company signed environmental protection responsibility agreements with 20 subsidiaries, enhancing accountability for environmental management[140]. - The group issued a notice outlining six key energy management requirements, aiming to eliminate high-energy-consuming products and improve energy efficiency[141]. - A total of 65 energy-saving technical improvement projects are planned for 2024, with 35 projects completed by the end of the reporting period, expected to save RMB 7.09 million[141].

证券代码：601607 证券简称：上海医药 公告编号：临 2024-085 上海医药集团股份有限公司 2024 年半年度权益分派实施公告 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： 每股分配比例 A 股每股现金红利 0.08 元 相关日期 H 股 股 东 的 现 金 分 红 有 关 情 况 详 见 本 公 司 在 香 港 联 合 交 易 所 有 限 公 司 网 站 （http://www.hkexnews.hk）发布的落款日期为 2024 年 9 月 2 日的相关公告。 3. 分配方案： 本次利润分配以方案实施前的公司总股本3,704,188,795股（其中A股股本为2,785,116,091 股）为基数，每股派发现金红利 0.08 元（含税），共计派发现金红利 296,335,103.60 元，其中 1. 发放年度：2024 年半年度 2. 分派对象： A 股现金股利人民币 222,809,287.28 元。 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | -- ...

证券代码：601607 证券简称：上海医药 编号：临2024-084 上海医药集团股份有限公司 关于控股股东增持公司 H 股股份的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 2024 年 9 月 13 日，上海医药集团股份有限公司（以下简称"上海医药"或 "公司"）收到上海实业（集团）有限公司（以下简称"上实集团"）通知，上 实集团通过下属全资子公司上实国际投资有限公司（以下简称"上实国际"）增 持了公司 H 股 100,100 股，约占公司总股本（截至 2024 年 9 月 12 日，公司总股 本为 3,704,188,795 股）0.003%。 本次增持前，上实集团持有公司股票 1,352,255,837 股（其中：A 股 1,125,817,837 股，H 股 226,438,000 股），约占公司总股本的 36.506%；本次增 持后，上实集团持有公司股票 1,352,355,937 股（其中：A 股 1,125,817,837 股， H 股 226,538,100 股），约占公司总股本的 36.509 ...

证券代码：601607 证券简称：上海医药 编号：临2024-083 上海医药集团股份有限公司 关于控股股东 H 股增持计划实施完毕的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 上海医药集团股份有限公司（以下简称"本公司"）于 2023 年 9 月 11 日收 到上海实业（集团）有限公司（以下简称"上实集团"）通知，上实集团计划在 此后的 12 个月内通过下属全资子公司上实国际投资有限公司（以下简称"上实 国际"）于二级市场增持本公司 H 股股份，增持比例不超过本公司已发行总股本 的 2%（详见公司公告临 2023-076 号）。 截至 2024 年 9 月 10 日香港联合交易所有限公司收市，上实集团增持本公司 H 股股份计划已经实施完毕。本次增持期间内，上实集团通过上实国际增持了本 公司 H 股股份共计 7,899,600 股，约占本公司已发行 H 股股份总数（即 919,072,704 股）的 0.860%，占已发行股份总数（即 3,704,188,795 股，公司截 至 2024 年 9 月 10 日的 ...

证券代码：601607 证券简称：上海医药 编号：2024-004 上海医药集团股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-------------|---------------------------|------------------------------------------------------------| | | | | | 投 资 者 关 | □ | 特定对象调研 □分析师会议 | | 系 活 动 类 | □ | 媒体采访 业绩说明会 | | 别 | □ | 新闻发布会 □路演活动 | | | □ | 现场参观 □其他 | | 参 与 单 位 | | 线下参与机构：中信证券、银河证券、中金公司、华安证券、湘财 | | 名称 | | 证券、高毅资产、远信投资、汇添富基金、国信证券、永盈基金、 | | | | 国君资管、海通资管、华泰证券、天风证券、山西证券、瑞银证 | | | | 券、招商证券、摩根士丹利证券、嘉实基金、浙商证券、摩根基 | | | 金、海通国际等 | 87 人次，同时还有 776 人次通过直播平台及上证 | | | 路演中心于线上听会 ...

Investment Rating - The report maintains an "Outperform" rating for Shanghai Pharma (2607 HK) with a target price of HKD 13.82, down 5.0% from previous estimates [3][5][17]. Core Insights - Shanghai Pharma's 1H24 results showed revenue of CNY 139.4 billion, a year-on-year increase of 5.1%, with a notable growth in the Contract Sales Organization (CSO) business, which achieved sales of CNY 4.0 billion, up 172% year-on-year [11][12]. - The pharmaceutical manufacturing segment faced challenges, reporting a revenue decline of 13.4% year-on-year, primarily due to price reductions in products from SPH No.1 Biochemical & Pharmaceutical [12][14]. - The company successfully introduced 8 import varieties and added 15 new SPD projects in 1H24, contributing to its growth despite the overall industry pressure [11][12]. Revenue and Profitability - In 1H24, Shanghai Pharma's gross profit margin (GPM) was 11.6%, down 1.3 percentage points year-on-year, while the net profit attributable to shareholders was CNY 2.94 billion, reflecting a 12.7% increase year-on-year [14][13]. - The report projects revenue for 2024, 2025, and 2026 to be CNY 277.8 billion, CNY 299.9 billion, and CNY 323.5 billion respectively, with growth rates of 6.7%, 8.0%, and 7.9% [16][17]. Accounts Receivable - As of 1H24, Shanghai Pharma's accounts receivable totaled CNY 80.9 billion, with a significant portion due within one year, indicating potential cash flow management challenges [15][4]. Valuation Methodology - The valuation is based on a discounted cash flow (DCF) model using a WACC of 6.2% and a perpetual growth rate of 3%, leading to the target price of HKD 13.82 [5][17].

Investment Rating - The report assigns a "Recommended" rating to Shanghai Pharmaceuticals [3] Core Views - The company reported a revenue of 139.41 billion yuan for the first half of 2024, representing a 5.14% increase year-on-year, with pharmaceutical commercial revenue growing by 7.45% to 126.68 billion yuan, while pharmaceutical industrial revenue decreased by 13.4% to 12.73 billion yuan. The net profit attributable to shareholders was 2.94 billion yuan, up 12.72% [1] - In Q2 2024, the company achieved a revenue of 69.26 billion yuan, a 4.36% increase, and a net profit of 1.40 billion yuan, reflecting a significant growth of 28.15%. The growth in profit outpaced revenue growth due to non-recurring asset impairment factors from the previous year [1] - The company is focusing on innovation and R&D, with an investment of 1.40 billion yuan in R&D for H1 2024, a 15.26% increase, accounting for 11.03% of industrial sales. The company has multiple new drug applications in progress, including a self-developed product for hypertension [1] Summary by Sections Financial Performance - For H1 2024, Shanghai Pharmaceuticals reported total revenue of 139.41 billion yuan, with a net profit of 2.94 billion yuan, and a significant increase in net profit margin [1] - The company’s operating cash flow decreased by 68.56% to 515 million yuan, indicating potential liquidity concerns [1] Business Segments - The pharmaceutical commercial segment showed robust growth, driven by CSO import agency and vaccine promotion, with CSO sales reaching 4 billion yuan, a 172% increase year-on-year [1] - The non-pharmaceutical business, including medical devices and health products, also grew, with new SPD projects generating approximately 21.8 billion yuan in revenue, an 11.12% increase [1] R&D and Innovation - The company is advancing its R&D efforts, with a focus on traditional Chinese medicine, achieving revenue of 5.19 billion yuan in H1 2024 from its Chinese medicine segment [1] - The company is actively developing major traditional Chinese medicine products and brands, enhancing its competitive edge in the market [1] Management and Strategy - The management is implementing cost reduction and efficiency improvement measures through platform integration and refined management practices, aiming for high-quality growth [2] - The company’s strategic focus on collaboration between its commercial and industrial segments is expected to enhance its competitive advantage [2]