证券代码：603087 证券简称：甘李药业 公告编号：2024-088 甘李药业股份有限公司 关于以集中竞价交易方式回购公司股份的进展公告 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。 重要内容提示： | 回购方案实施期限 | 2024 年 9 月 5 日~2025 年 9 月 4 | 日 | | --- | --- | --- | | 预计回购金额 | 15,000 万元~30,000 万元 | | | 回购用途 | √减少注册资本 □用于员工持股计划或股权激励 | | | | □用于转换公司可转债 | | | | □为维护公司价值及股东权益 | | | 累计已回购股数 | 39.69 万股 | | | 累计已回购股数占总股本比例 | 0.0660% | | | 累计已回购金额 | 万元 1,512.5293 | | | 实际回购价格区间 | 37.65 元/股~38.42 元/股 | | | 回购方案首次披露日 | 2024/9/6 | | 注：调整回购股份用途的议案尚需提交公司拟于 2024 年 11 月 8 日召开的 ...

甘李药业股份有限公司 2024 年第二次临时股东大会 会议资料 二〇二四年十一月 甘李药业股份有限公司 2024 年第二次临时股东大会 甘李药业股份有限公司 2024 年第二次临时股东大会会议议程 主持人：甘忠如 2024 年 11 月 8 日 | 序号 | 会议事项 | | --- | --- | | 一 | 宣布会议开始 | | 二 | 致欢迎辞 | | 三 | 宣布大会参加人数、代表股数、会议有效。介绍会议出席人员，介绍律师事务所 | | | 见证律师 | | 四 | 主持人提议监票人、计票人与记录人 | | 五 | 提示投票表决方式 | | 六 | 股东逐项审议议案： | | 非累积投票议案 | | | 1 | 关于聘任公司 2024 年度会计师事务所及决定其报酬的议案 | | 2 | 关于终止实施 年股票期权激励计划暨注销股票期权的议案 2021 | | 3 | 关于公司 2024 年前三季度利润分配方案的议案 | | 4 | 关于调整回购股份用途的议案 | | 累积投票议案 | | | 5.00 | 关于补选公司监事的议案 | | 5.01 | 监事候选人张立 | 1 甘李药业股份有限公司 202 ...

甘李药业股份有限公司 关于公司控股股东及实际控制人部分股份质押 的公告 控股股东、实际控制人甘忠如先生及其控制的北京旭特宏达科技有限公司合 计持有公司股份 253,138,194 股，占公司总股本的 42.11%，累计质押公司股份数 量为 102,610,000 股，占其持股数量的 40.54%，占公司总股本的 17.07%。 一、上市公司股份质押 公司于 2024 年 10 月 31 日收到控股股东及实际控制人甘忠如先生的通知， 获悉甘忠如先生持有的部分股份被质押，并在中国证券登记结算有限公司办理了 质押登记手续。具体事项如下： | | 是否 | 本次质押 | 是否 | 是否 | | | | 占其所 | 占公 | 质押 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东名 | 为控 | | | | | | | | 司总 | 融资 | | | | 股数 | 为限 | 补充 | 质押起始日 | 质押到期日 | 质权人 | 持股份 | | | | 称 | 股股 | | | | | | | | 股本 | 资金 | | ...

Investment Rating - The report maintains a "Hold" rating for Gan & Lee Pharmaceuticals (603087) [1] Core Views - The company's Q3 2024 performance met expectations, with revenue of 2.25 billion yuan (+17.8% YoY) and net profit of 510 million yuan (+90.4% YoY) [2] - Domestic pharmaceutical and device revenue reached 680 million yuan (+22.3% YoY) in Q3, while overseas insulin revenue was 120 million yuan (+72.1% YoY) [2] - Gross margin improved to 75.4% (+0.6pp YoY) in the first three quarters, with Q3 margin reaching 78.1% (+1.5pp YoY) [2] - Key pipeline products GZR18 and GZR4 showed promising clinical trial results, with GZR18 demonstrating superior efficacy to semaglutide in diabetes treatment and achieving 16.5kg weight loss after 35 weeks [3] Financial Performance - Revenue growth is projected at 30.95% for 2024E, 39.97% for 2025E, and 20.23% for 2026E [4] - Net profit is expected to grow by 96.25% in 2024E, 65.43% in 2025E, and 28.35% in 2026E [4] - EPS forecasts are 1.11 yuan for 2024E, 1.84 yuan for 2025E, and 2.36 yuan for 2026E [4] - ROE is projected to increase from 5.89% in 2024E to 10.50% in 2026E [4] Operational Highlights - The company successfully implemented price adjustments following centralized procurement renewals, contributing to margin improvement [2] - R&D expenses accounted for 18% of revenue in the first three quarters, while sales expenses were 37% [2] - The company is strategically expanding sales channel coverage in anticipation of centralized procurement implementation across provinces [2] Pipeline Development - GZR18, a single-target GLP-1Ra drug, demonstrated superior efficacy to semaglutide in Phase 2a trials for diabetes treatment [3] - GZR4, a fourth-generation insulin weekly formulation, ranks among the top three in global development progress [3] Valuation Metrics - PE ratio is projected to decrease from 86.45 in 2023A to 20.75 in 2026E [7] - PB ratio is expected to decline from 2.74 in 2023A to 2.18 in 2026E [7] - EV/EBITDA ratio is forecast to improve from 51.51 in 2023A to 12.23 in 2026E [7]

Investment Rating - The report maintains a "Hold" rating for the company [2] Core Insights - The company reported a revenue of 2.25 billion yuan for the first three quarters of 2024, representing a year-on-year increase of 17.8%, and a net profit attributable to shareholders of 510 million yuan, up 90.4% year-on-year [2] - The third quarter performance met expectations, with quarterly revenues of 560 million, 750 million, and 930 million yuan for Q1, Q2, and Q3 respectively, showing year-on-year growth of 0.4%, 12.3%, and 37.6% [3] - The gross margin for the first three quarters was 75.4%, an increase of 0.6 percentage points year-on-year, primarily driven by price adjustments following the continuation of centralized procurement [3] - The company has made significant progress in its key drug pipelines, with promising clinical data for its GLP-1Ra drug GZR-18 and fourth-generation insulin GZR4 [4] - Earnings per share (EPS) forecasts for 2024-2026 are projected at 1.11 yuan, 1.84 yuan, and 2.36 yuan respectively, reflecting strong growth potential from domestic and international markets [4] Financial Summary - For 2023, the company achieved a revenue of 2.608 billion yuan, with a projected revenue of 3.415 billion yuan for 2024, indicating a growth rate of 30.95% [8] - The net profit attributable to shareholders for 2023 was 340.07 million yuan, with projections of 667.39 million yuan for 2024, representing a growth rate of 96.25% [8] - The gross margin is expected to remain strong, with forecasts of 75.62% for 2024 and 73.80% for 2025 [8]

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 72.58 yuan based on a projected P/E ratio of 38 times for 2025 [2]. Core Insights - The company achieved excellent performance in Q3 2024, with revenue of 930 million yuan, a year-on-year increase of 37.6%, and a net profit attributable to the parent company of 210 million yuan, up 57.5% year-on-year [1]. - Domestic sales showed steady growth, with a revenue of 680 million yuan in Q3, reflecting a 22.3% increase year-on-year, while international sales reached 120 million yuan, growing by 72.1% [1]. - The company successfully participated in national drug procurement, leading to a significant increase in domestic formulation sales, which totaled 1.8 billion yuan in the first three quarters of 2024, marking a 13.9% increase [1]. - The expansion into emerging markets has yielded significant results, with successful orders in Algeria and progress in the European and American markets [1]. - Profitability has improved, with a gross margin of 78.05% and a net margin of 22.4% in Q3, both showing increases compared to the previous year [1]. Financial Summary - The company's revenue for 2022 was 1.712 billion yuan, with a projected increase to 3.594 billion yuan in 2024, representing a year-on-year growth of 37.8% [4]. - The net profit attributable to the parent company is expected to rise from 340 million yuan in 2023 to 644 million yuan in 2024, reflecting an increase of 89.5% [4]. - The earnings per share are projected to be 1.07 yuan in 2024, increasing to 2.40 yuan by 2026 [2][4].

中信证券股份有限公司关于甘李药业股份有限公司 首次公开发行部分限售股上市流通的核查意见 中信证券股份有限公司（以下简称"中信证券"或"保荐机构"）作为甘李 药业股份有限公司（以下简称"甘李药业"或"公司"）持续督导工作的保荐机 构，根据《证券发行上市保荐业务管理办法》《上海证券交易所股票上市规则》 《上海证券交易所上市公司自律监管指引第 11 号——持续督导》等有关规定， 一、本次限售股上市类型 经中国证券监督管理委员会《关于核准甘李药业股份有限公司首次公开发行 股票的批复》（证监许可[2020]1075 号）核准，甘李药业获准向社会公众公开发 行人民币普通股（A 股）股票 40,200,000 股，于 2020 年 6 月 29 日在上海证券交 易所上市。公司首次公开发行前总股本为 360,900,000 股,首次公开发行后总股本 为 401,100,000 股，其中有限售条件流通股为 360,900,000 股，无限售条件流通股 为 40,200,000 股。 本次上市流通的限售股为公司首次公开发行限售股，涉及股东为 Vast Wintersweet Limited（以下简称"Wintersweet"）， ...

证券代码：603087 证券简称：甘李药业 公告编号：2024-086 甘李药业股份有限公司 首次公开发行部分限售股上市流通公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 一、本次限售股上市类型 经中国证券监督管理委员会《关于核准甘李药业股份有限公司首次公开发行 股票的批复》（证监许可[2020]1075 号）核准，甘李药业股份有限公司（以下简称 "甘李药业"、"公司"）获准向社会公众公开发行人民币普通股（A 股）股票 40,200,000 股，于 2020 年 6 月 29 日在上海证券交易所上市。公司首次公开发行前 总股本为 360,900,000 股,首次公开发行后总股本为 401,100,000 股，其中有限售条 件流通股为 360,900,000 股，无限售条件流通股为 40,200,000 股。 本次上市流通的限售股为公司首次公开发行限售股，涉及股东为 Vast Wintersweet Limited（以下简称"Wintersweet"）。Wintersweet 本次限售股上市流 通数量为 ...

Investment Rating - The report maintains a "Recommended" rating for the company [2][4]. Core Viewpoints - The company achieved a revenue of 930 million yuan in Q3 2024, representing a year-on-year growth of 37.61%, and a net profit attributable to the parent company of 208 million yuan, up 57.47% year-on-year [2]. - Domestic revenue continues to grow steadily, with Q3 domestic revenue reaching 680 million yuan, a 22.25% increase compared to the same period last year, primarily due to price increases of the company's formulation products [2]. - The company actively expanded into overseas markets, with international sales revenue for the first three quarters reaching 242 million yuan, a 37.63% increase year-on-year, and Q3 sales revenue growing by 72.10% year-on-year [2]. - The company's pipeline research and development is progressing steadily, with promising data for key products such as GZR18, GZR4, and GZR101, showing superior efficacy compared to competitors in clinical trials [2]. - The company is expected to achieve revenues of 3.321 billion yuan, 4.753 billion yuan, and 5.743 billion yuan for 2024, 2025, and 2026 respectively, with net profits of 655 million yuan, 1.215 billion yuan, and 1.541 billion yuan, corresponding to PE ratios of 47, 26, and 20 times [2][5]. Summary by Relevant Sections Financial Performance - In Q3 2024, the company reported a revenue of 930 million yuan, with a net profit of 208 million yuan, marking significant year-on-year growth [2]. - For the first three quarters of 2024, domestic sales revenue was 1.868 billion yuan, an increase of 239 million yuan year-on-year, with domestic formulation sales contributing 1.802 billion yuan [2]. - The company’s international sales revenue for the first three quarters was 242 million yuan, reflecting a 37.63% increase year-on-year [2]. R&D Progress - The company’s key products in the pipeline include GZR18, GZR4, and GZR101, with GZR18 showing superior efficacy in reducing HbA1c and body weight compared to Semaglutide in clinical trials [2]. - The company’s ultra-long-acting insulin GZR4 also demonstrated better efficacy in lowering HbA1c compared to Degludec in its clinical trials [2]. Future Projections - The company is projected to achieve revenues of 3.321 billion yuan in 2024, 4.753 billion yuan in 2025, and 5.743 billion yuan in 2026, with corresponding net profits of 655 million yuan, 1.215 billion yuan, and 1.541 billion yuan [5][6].

证券代码：603087 证券简称：甘李药业 公告编号：2024-085 甘李药业股份有限公司 关于完成工商登记信息变更的公告 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。 2024 年 5 月 24 日，甘李药业股份有限公司（以下简称"公司"）在中国证 券登记结算有限责任公司上海分公司办理完成公司 2024 年限制性股票激励计划 7,040,000 股的授予登记工作，授予登记完成后，公司总股本由 594,161,750 股变 更为 601,201,750 股，注册资本由 594,161,750 元变更为 601,201,750 元。具体内 容详见公司于 2024 年 5 月 28 日披露的《甘李药业股份有限公司关于 2024 年限 制性股票激励计划授予登记完成的公告》（公告编号：2024-052）。 2024 年 7 月 25 日，公司完成 2022 年限制性股票激励计划部分限制性股票 的回购注销工作，回购注销完成后，公司总股本由 601,201,750 股变更为 601,065,290 股，注册资本由 601,201,75 ...