Financial Performance - The company's operating revenue for Q1 2025 was RMB 287.34 million, a decrease of 11.54% compared to RMB 324.81 million in the same period last year[7]. - Net profit attributable to shareholders for Q1 2025 was RMB 41.12 million, a significant increase of 115.11% from a loss of RMB 272.22 million in the previous year[7]. - Basic and diluted earnings per share for Q1 2025 were RMB 0.05, a turnaround from a loss of RMB 0.36 per share in the previous year, representing an increase of 113.89%[7]. - The weighted average return on equity increased by 3.86 percentage points to 0.51% compared to -3.35% in the same period last year[7]. - The net profit attributable to shareholders of the listed company increased by 115.11% compared to the same period last year, primarily due to significant losses from the fair value changes of biological assets in the previous year[16]. - The total comprehensive income for Q1 2025 was CNY 40,352,525.89, compared to a total comprehensive loss of CNY 272,499,809.53 in Q1 2024[30]. - Operating profit for Q1 2025 was CNY 49,382,588.17, a turnaround from an operating loss of CNY 293,008,274.73 in Q1 2024[28]. Cash Flow and Assets - The net cash flow from operating activities was RMB 65.15 million, down 45.69% from RMB 119.95 million in the same period last year[7]. - Cash and cash equivalents decreased to CNY 676,571,156.45 as of March 31, 2025, from CNY 965,203,128.59 at the end of 2024, a decline of 29.9%[22]. - The company’s cash flow management remains a priority, with a significant reduction in cash reserves noted[22]. - The cash and cash equivalents at the end of Q1 2025 were $676,571,156.45, a significant decrease from $2,865,314,156.35 in Q1 2024, reflecting a decline of about 76.4%[34]. - The net increase in cash and cash equivalents for Q1 2025 was -$288,629,929.27, contrasting with a positive increase of $11,667,128.38 in Q1 2024[34]. - The impact of exchange rate changes on cash and cash equivalents in Q1 2025 was -$1,154,223.86, compared to -$2,795,727.79 in Q1 2024, showing an improvement of approximately 58.7%[34]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 48,730[18]. - The top ten shareholders hold a total of 22.30% of shares, with the largest shareholder, Feng Yuxia, owning 167,160,633 shares[18]. - The company has not identified any related party relationships among the top ten shareholders, except for known familial connections[19]. Business Operations and Strategy - The laboratory services business contributed a net profit of RMB -41.34 million, a decline of 96.47% year-on-year, primarily due to increased industry competition[11]. - The company plans to enhance its laboratory services and financial management strategies to improve profitability amid competitive pressures[9]. - The company plans to focus on expanding its market presence and enhancing R&D efforts in the upcoming quarters[27]. - The company signed new orders worth approximately RMB 430 million during the reporting period, with a backlog of orders amounting to approximately RMB 2.2 billion at the end of the reporting period[20]. Non-Recurring Items - Non-recurring gains and losses for the reporting period amounted to RMB 15.46 million, with significant contributions from government subsidies and financial asset management[10][13]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 25.66 million, an increase of 109.14% from a loss of RMB 280.67 million in the previous year[7]. - The non-recurring gains and losses totaled RMB 15,456,940.42, indicating significant impacts from various non-operating activities[14]. Costs and Expenses - Total operating costs for Q1 2025 were CNY 288,252,886.21, down from CNY 293,294,646.96 in Q1 2024, reflecting a reduction of 1.4%[27]. - R&D expenses for Q1 2025 amounted to CNY 23,027,883.99, slightly increasing from CNY 22,967,298.39 in Q1 2024[27]. - Other income for Q1 2025 was CNY 5,270,400.41, down from CNY 6,650,918.69 in Q1 2024[28]. - Investment income for Q1 2025 was CNY 1,235,855.96, a decline from CNY 6,972,038.25 in Q1 2024[28]. Market and Risk Awareness - The company emphasizes the need for investors to be aware of investment risks due to market environment changes and industry competition[20]. - The company has not reported any changes in the participation of major shareholders in margin financing and securities lending activities[20]. - The company did not apply new accounting standards or interpretations starting from 2025, indicating a stable accounting approach for the current reporting period[34].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 (2)關於召開2025年度第一季度業績說明會的公告 (3)關於續聘2025年度會計師事務所的公告 (4)第四屆董事會第十四次會議決議公告 JOINN LABORATORIES (CHINA) CO., LTD. 北京昭衍新藥研究中心股份有限公司 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：6127） 海外監管公告 本公告乃北京昭衍新藥研究中心股份有限公司（「本公司」）根據香港聯合交易 所有限公司證券上市規則第13.10B條 而 作 出。 附件為本公司於上海證券交易所網站刊登之 北京昭衍新藥研究中心股份有限公司 (1) 2025年第一季度報告 承董事會命 北京昭衍新藥研究中心股份有限公司 馮宇霞 董事長 中 國 北 京，2025年4月28日 於 本 公 告 日 期，董 事 會 包 括 主 席 兼 ...

Core Insights - The global and US innovative drug VC&PE financing amounts are expected to grow by 1.93% and 5.29% respectively in 2024, indicating a recovery in the innovative drug financing environment [1] - The demand for research and development in fields such as peptides and ADCs is strong, leading to an increase in outsourcing needs in these areas [1][2] Macro Perspective - The global innovative drug financing environment is recovering, with significant growth in the demand for innovative research in specific fields like peptides and ADCs, which is expected to enhance the CXO industry's outlook [1] - According to Crunchbase, the VC&PE financing for innovative drugs in 2024 shows positive growth, marking an improvement in the financing environment [1] Micro Perspective - CXO listed companies are seeing a recovery in new orders, with many companies like WuXi AppTec, WuXi Biologics, and others reporting a year-on-year increase of over 20% in new orders [3] - The production capacity of domestic CXO companies is mature, ensuring timely delivery of orders, which is expected to lead to double-digit revenue growth for several companies in 2025 [3] Target Companies - Recommended companies to watch include WuXi AppTec (603259.SH, 02359), WuXi Biologics (02269), WuXi AppTec (02268), Kelun Pharmaceutical (002821.SZ, 06821), and others [4]

A股CRO概念震荡反弹，双成药业6天5板，诺思格涨超10%，河化股份、新天地、宣泰医药、昭衍新药 等跟涨。 ...

北京昭衍新药研究中心股份有限公司的主营业务是从事以药物非临床安全性评价服务为主的药物临床前 研究服务和实验动物及附属产品的销售业务。公司的主要产品是药物非临床研究服务、临床服务及其 他、实验模型供应。 最新一期业绩显示，2024年年报，公司实现营业收入20.18亿元，同比-15.07%；净利润7407.54万元，同 比-81.34%，销售毛利率28.43%。 4月16日，昭衍新药今日收盘15.44元，下跌4.51%，滚动市盈率PE（当前股价与前四季度每股收益总和 的比值）达到156.22倍，总市值115.72亿元。 从行业市盈率排名来看，公司所处的医疗服务行业市盈率平均45.05倍，行业中值46.97倍，昭衍新药排 名第42位。 截至2024年年报，共有115家机构持仓昭衍新药，其中基金113家、券商1家、其他1家，合计持股数 6621.29万股，持股市值11.01亿元。 序号股票简称PE(TTM)PE(静)市净率总市值(元)42昭衍新药156.22156.221.43115.72亿行业平均 45.0541.013.36141.40亿行业中值46.9735.682.4248.61亿1普瑞眼科-185.6423 ...

港股医药股持续走弱，歌礼制药(01672.HK)跌超12%，药明生物(02269.HK)跌超5%，再鼎医药 (09688.HK)、昭衍新药(06127.HK)等跟跌。 ...

Core Viewpoint - The FDA has updated its policy to gradually eliminate mandatory animal testing for monoclonal antibody therapies and other drug developments, which has raised significant concerns in the industry, particularly for companies like Zhaoyan New Drug that rely heavily on animal testing [1][2]. Group 1: FDA Policy Changes - The FDA's new policy encourages the use of alternative methods such as computational models, organ-on-a-chip technology, and cross-species data integration to replace animal testing [1][4]. - The FDA's push for alternatives is seen as a potential milestone in drug development, which could impact not only domestic CRO companies but also global pharmaceutical research [4][5]. Group 2: Impact on Zhaoyan New Drug - Zhaoyan New Drug, which derives 95% of its revenue from non-clinical research, faces direct challenges as approximately 70% of its business involves animal testing [10][11]. - The company has a significant portion of its business (78%) from the domestic market, with only 22% from international markets, primarily the U.S. [10][11]. Group 3: Feasibility of Alternatives - The feasibility of AI and organ-on-a-chip technologies as alternatives to animal testing is being explored, with some advancements already noted in clinical trials [5][7]. - The FDA has previously approved a new drug based solely on organ-on-a-chip data, indicating that there is a pathway for these technologies to be integrated into drug development [7]. Group 4: Financial Implications - If animal testing is reduced, the cost of monkeys used in experiments may decline significantly, impacting Zhaoyan New Drug's investments in animal resources [14]. - The company's financial growth may increasingly depend on its clinical business, which is facing intense competition and declining profit margins [15].

JOINN LABORATORIES (CHINA) CO., LTD. 北京昭衍新藥研究中心股份有限公司 中 國，北 京 2025年4月14日 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 北京昭衍新藥研究中心股份有限公司（「本公司」及其附屬公司統稱為「本集團」） 之董事會（「董事會」）兹通告謹定於2025年4月28日（星 期 一）舉 行 董 事 會 會 議，以 考慮及通過（其 中 包 括）本集團截至2025年3月31日止三個月之第一季度業績及 其 發 佈。 承董事會命 北京昭衍新藥研究中心股份有限公司 主 席 馮宇霞 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：6127） 董事會召開日期 於 本 公 告 日 期，董 事 會 包 括 主 席 兼 執 行 董 事 馮 宇 霞 女 士、執 行 董 事 高 大 鵬 先 生、孫 雲 霞 女 士、羅 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 JOINN LABORATORIES (CHINA) CO., LTD. 北京昭衍新藥研究中心股份有限公司 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：6127） 須予披露交易 進一步認購金融產品 進一步認購金融產品 董 事 會 謹 此 公 佈，於2025年4月14日（交 易 時 間 後），本 集 團 成 員 公 司 剛 透 過 中 信證券及其附屬公司認購且於本公告日期仍未到期的該等中信證券金融產 品合計投資總額分別為人民幣400,000,000元。 於 本 公 告 日 期，董 事 確 認 除 該 等 中 信 證 券 金 融 產 品 仍 未 到 期 外，其 餘 的 所 有 向 中 信 證 券 認 購 的 金 融 產 品 均 已 按 照 各 自 的 條 款 悉 數 贖 回；(ii)本集團相信 認 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 JOINN LABORATORIES (CHINA) CO., LTD. 北京昭衍新藥研究中心股份有限公司 董事會召開日期 北京昭衍新藥研究中心股份有限公司（「本公司」及其附屬公司統稱為「本集團」） 之董事會（「董事會」）兹通告謹定於2025年4月28日（星 期 一）舉 行 董 事 會 會 議，以 考慮及通過（其 中 包 括）本集團截至2025年3月31日止三個月之第一季度業績及 其 發 佈。 承董事會命 北京昭衍新藥研究中心股份有限公司 主 席 馮宇霞 中 國，北 京 2025年4月14日 於 本 公 告 日 期，董 事 會 包 括 主 席 兼 執 行 董 事 馮 宇 霞 女 士、執 行 董 事 高 大 鵬 先 生、孫 雲 霞 女 士、羅 樨 女 士 及 顧 靜 良 先 生，及 獨 立 非 執 行 董 事 張 帆 先 生、楊 福 全 先 生、陽 ...