Group 1: Zhongjuxin - In 2024, Zhongjuxin's revenue will primarily come from the integrated circuit sector, accounting for nearly 74% of total revenue, with a slow recovery in semiconductor market demand [1] - The photovoltaic industry is experiencing negative gross margins, and the company will focus on integrated circuit clients in the future [1] - Electronic specialty gases generated revenue of 247 million yuan with a gross margin of 20.70%, mainly from high-purity chlorine [1] - The second phase of electronic specialty gases products will enhance gross margins, while the electronic wet chemical segment is facing declining margins due to industry competition [1] - The company reported a loss in Q4 due to increased labor costs, R&D investments, and year-end project expenses [1] - Overseas sales revenue is approximately 90 million yuan, with sales to the U.S. accounting for less than 1% of total revenue, indicating limited impact [1] - The company plans to expand market efforts and overseas sales channels in 2025 [1] Group 2: Jiuzhou Pharmaceutical - Jiuzhou Pharmaceutical indicated that the suspension of the PLI plan in India benefits raw material drug manufacturers in other countries, with domestic raw material prices stabilizing [2] - The CDMO business is expected to see a 15% year-on-year increase in new projects and a 20% increase in contract value in 2024, with revenue nearing 3.9 billion yuan and nearly 80% from overseas clients [2] - The company anticipates a recovery of CDMO gross margins to around 40% by 2025 [2] - In Q1, the overall capacity utilization rate was approximately 60%, with capital expenditures planned to be controlled at 500-600 million yuan in 2025 [2] - The company aims to introduce leading talents in the fields of peptides, DC, and small nucleic acids over the next three years [2] - Jiuzhou Pharmaceutical plans to provide services to over 70 clients in 2024, with nearly 30 new clients onboarded, focusing on inhalation formulations and liposome technology platforms [2]

Group 1: Jiuzhou Pharmaceutical - Jiuzhou Pharmaceutical indicated that the suspension of the PLI plan in India benefits raw material manufacturers in other countries, with domestic raw material prices gradually stabilizing [1] - The number of new CDMO projects in 2024 is expected to grow by 15% year-on-year, with contract amounts increasing by 20% [1] - CDMO business revenue is close to 3.9 billion yuan, with nearly 80% coming from overseas, primarily from European clients [1] - The company anticipates a recovery in CDMO gross margin to around 40% by 2025 [1] - In Q1, the overall capacity utilization rate was approximately 60%, with capital expenditures for 2025 controlled at 500-600 million yuan [1] - The second phase of the commercial production capacity for the peptide department is expected to be operational by September 2025 [1] Group 2: Lanke Technology - Lanke Technology plans to focus on the development of computing power chips for intelligent hardware over the next 5-10 years, emphasizing the importance of interconnect chips [2] - The demand for DDR5 memory interface chips is expected to significantly increase due to trends in the AI industry [2] - The company has invested in the development of PCIe Switch chips and anticipates continued growth in demand for PCIe Retimer chips, primarily driven by AI server shipments [2] - Lanke Technology's core business maintains high quality, with major products being high value-added, resulting in a high gross margin [2] - The company has linked the market value to executive performance evaluations for three consecutive years to align management interests with shareholder interests [2]

Group 1 - The US government has temporarily exempted certain electronic products from tariffs, but this exemption is not permanent and will last only until a new tariff plan for the semiconductor industry is established [2][21] - China's foreign trade in the first quarter of this year reached 10.3 trillion yuan, a year-on-year increase of 1.3%, with exports growing by 6.9% and imports declining by 6% [3] - The State Administration for Market Regulation in China has introduced 37 key measures to support the development of private enterprises, focusing on breaking down barriers and promoting fair competition [4][5] Group 2 - Hong Kong is preparing to attract Chinese concept stocks back to its market, emphasizing its stability and attractiveness amid global financial market volatility [6][7] - The China Securities Regulatory Commission has emphasized the importance of functionality in the fund industry, aiming for a balance between quality and scale [8] - Insurance funds are accelerating their entry into the stock market, with the scale of long-term stock investment trials increasing from 50 billion yuan to 162 billion yuan [9] Group 3 - The US is experiencing a significant drop in import orders, with a 64% decrease in overall import volume, indicating potential disruptions in trade due to tariff policies [10][11] - The total share of stock ETFs in A-shares has surpassed 2 trillion shares, marking a historical high, with substantial inflows of capital observed in April [12] - Global pension funds are pausing investments in US assets due to uncertainties stemming from aggressive tariff policies, indicating a shift in investment strategies [13] Group 4 - The AI industry is facing scrutiny over its energy consumption, with Elon Musk's AI company xAI being investigated for violating environmental regulations related to its power generation [14] - The UK government plans to take over the British Steel Company from a Chinese firm, raising concerns about foreign investments in critical industries [15] - The consumer electronics sector is seeing increased research interest, driven by strong domestic demand policies and a surge in M&A activities in the technology field [17]

Group 1 - Company Instech reported a net profit of 177 million yuan for 2024, a year-on-year increase of 28.15%, with a proposed cash dividend of 1.20 yuan per 10 shares [1] - Instech achieved an operating revenue of 1.185 billion yuan in 2024, representing a year-on-year growth of 24.45% [1] - The company specializes in the research, production, and sales of rare earth permanent magnet materials and applications [2] Group 2 - Company Junda reported a net loss of 106 million yuan for Q1 2025, transitioning from profit to loss, with a year-on-year revenue decline of 49.52% [3] - Junda's operating revenue for Q1 2025 was 1.875 billion yuan [3] - The company focuses on the research, production, and sales of photovoltaic cell products [4] Group 3 - Company Annada reported a net loss of 10.26 million yuan for Q1 2025, with a year-on-year revenue increase of 1.44% [5] - Annada's operating revenue for Q1 2025 was 473 million yuan [5] - The company specializes in titanium dioxide and iron phosphate products [6] Group 4 - Company Jiuzhou Pharmaceutical reported a net profit of 250 million yuan for Q1 2025, a year-on-year increase of 5.68% [7] - Jiuzhou's operating revenue for Q1 2025 was 1.49 billion yuan, reflecting a year-on-year growth of 0.98% [7] - The company provides custom research and production services for pharmaceutical companies and research institutions [8] Group 5 - Company Yitong Century won a 1.48 billion yuan contract for a 5G comprehensive maintenance project with Guangdong Unicom [9] - The project will enhance the company's business volume and expansion in Guangdong [9] - Yitong Century specializes in communication network technology services and solutions [10] Group 6 - Company Rijiu Optoelectronics reported a net profit of 67.47 million yuan for 2024, a year-on-year increase of 506.9%, with a proposed cash dividend of 2.00 yuan per 10 shares [10] - Rijiu's operating revenue for 2024 was 583 million yuan, representing a year-on-year growth of 22% [10] - The company focuses on the research, production, and sales of touch display application materials [11] Group 7 - Company Ruotong reported a net profit of 95.98 million yuan for 2024, a year-on-year increase of 0.91%, with a proposed cash dividend of 2.00 yuan per 10 shares [12] - Ruotong's operating revenue for 2024 was 408 million yuan, reflecting a year-on-year growth of 7.54% [12] - The company specializes in drilling and completion equipment for oil and gas [13] Group 8 - Company Shuangxiang reported a net profit of 472 million yuan for 2024, a year-on-year increase of 754.84%, with a proposed cash dividend of 1.50 yuan per 10 shares [14] - Shuangxiang's operating revenue for 2024 was 2.29 billion yuan, representing a year-on-year growth of 51.55% [14] - The company focuses on synthetic leather and optical-grade PMMA products [15] Group 9 - Company Xinfang Pharmaceutical reported a net profit of 101 million yuan for 2024, a year-on-year decrease of 64.70%, with a proposed cash dividend of 0.30 yuan per 10 shares [16] - Xinfang's operating revenue for 2024 was 6.032 billion yuan, reflecting a year-on-year decline of 6.63% [16] - The company is involved in medical services, pharmaceutical distribution, and manufacturing [17] Group 10 - Company Dongxing Medical reported a net profit of 97.42 million yuan for 2024, a year-on-year increase of 0.21%, with a proposed cash dividend of 6.00 yuan per 10 shares [18] - Dongxing's operating revenue for 2024 was 435 million yuan, reflecting a year-on-year growth of 0.40% [18] - The company specializes in surgical medical devices [19] Group 11 - Company Wuzhou Special Paper reported a net profit of 64.68 million yuan for Q1 2025, a year-on-year decrease of 51.56%, with an operating revenue of 1.989 billion yuan [20] - Wuzhou's operating revenue for Q1 2025 increased by 15.21% [20] - The company focuses on the research, production, and sales of mechanism paper and pulp [21] Group 12 - Company Jinrui Mining expects a net profit of 15.28 million yuan for Q1 2025, a year-on-year increase of 617.40% [22] - The company specializes in the production and sales of strontium salt products [23] Group 13 - Company Youyan New Materials expects a net profit of 60 million to 75 million yuan for Q1 2025, a year-on-year increase of 13076% to 16370% [24] - The company focuses on electronic films, precious metal materials, and rare earth materials [25] Group 14 - Company Guoli expects a net profit of 11 million to 13 million yuan for Q1 2025, a year-on-year increase of 164.38% to 212.45% [26] - The company specializes in urban infrastructure design, construction, and investment [27] Group 15 - Company Shenzhen Airport reported a passenger throughput of 5.5422 million in March, a year-on-year increase of 8.70% [28] - The airport's cargo throughput was 171,900 tons, reflecting a year-on-year growth of 14.51% [28] - The company is involved in aviation and related non-aviation businesses [29] Group 16 - Company Shenghui Integration reported an order balance of 2.117 billion yuan as of March 31, 2025, a year-on-year increase of 11.89% [30] - The company provides cleanroom engineering and electromechanical engineering services [31] Group 17 - Company Chengyi Pharmaceutical received a drug registration certificate for Mercaptopurine tablets [32] - The drug is applicable for various diseases including choriocarcinoma and acute lymphoblastic leukemia [32] Group 18 - Company Enhua Pharmaceutical initiated Phase I clinical trials for NH280105 capsules, targeting Alzheimer's disease [33] - The trial aims to assess the safety and pharmacokinetics of the drug [33] Group 19 - Company Lingang Steel proposed a share buyback of 50 million to 100 million yuan [34] - The company specializes in the production and development of metallurgical products [35] Group 20 - Company Fujia plans to repurchase shares worth 15 million to 30 million yuan [36] - The company focuses on smart cleaning appliances and key components [37] Group 21 - Company Mould Technology received a project designation letter for exterior parts from a luxury car client, with an estimated total sales of 2.07 billion yuan [38] - The project is expected to start mass production in April 2027 [38] Group 22 - Company Longxin General expects a net profit of 4.55 billion to 5.30 billion yuan for Q1 2025, a year-on-year increase of 76.65% to 105.77% [39] - The company specializes in motorcycles, engines, and general machinery products [40] Group 23 - Company Dongfang Securities reported a net profit of 1.436 billion yuan for Q1 2025, a year-on-year increase of 62.08% [41] - The company focuses on investment management and securities trading [42] Group 24 - Company Yalian Machinery plans to use up to 800 million yuan of idle funds for low-risk financial products [43] - The company specializes in the production of engineered wood production lines and equipment [44] Group 25 - Company Guanghua Technology reported a net loss of 205 million yuan for 2024, with total revenue of 2.589 billion yuan [45] - The company focuses on PCB chemicals and lithium battery materials [46] Group 26 - Company Boya Biotechnology plans to publicly transfer 80% of its subsidiary's equity for 213 million yuan [47] - The transaction aims to optimize resource allocation focusing on blood products [48] Group 27 - Company Darui Electronics plans to repurchase shares worth 30 million to 50 million yuan [49] - The company specializes in customized components and automation equipment [50] Group 28 - Company Hongying Intelligent plans to repurchase shares worth 30 million to 40 million yuan [51] - The company focuses on smart control products and assemblies [52] Group 29 - Company Guangku Technology announced a change in the upper shareholding structure of its controlling shareholder [53] - The operational activities of the company will not be materially affected [54] Group 30 - Company Dingjie Smart's application for convertible bond issuance has been accepted by the Shenzhen Stock Exchange [55] - The company provides digital and intelligent solutions for various industries [56]

浙江九洲药业股份有限公司 关于召开 2024 年度暨 2025 年第一季度业绩说明会的 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。 重要内容提示： 会议召开时间：2025 年 4 月 22 日（星期二）15:00-16:00 会议召开方式：上证路演中心视频录播和网络互动 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 投资者可于 2025 年 4 月 15 日（星期二）至 4 月 21 日（星期一）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 （603456@jiuzhoupharma.com）进行提问，公司将在信息披露允许的范围内对投 资者普遍关注的问题进行回答。 一、说明会类型 证券代码：603456 证券简称：九洲药业 公告编号：2025-024 三、公司参加人员 董事兼总裁梅义将先生；董事、执行副总裁兼财务负责人沙裕杰先生；独立 董事蒋琦女士；董事、执行副总裁兼董事会秘书林 ...

Financial Performance - The company's operating revenue for Q1 2025 was CNY 1,490,269,186.29, a year-on-year increase of 0.98% compared to CNY 1,475,743,576.44 in the same period last year[3]. - The net profit attributable to shareholders was CNY 250,202,958.78, reflecting a growth of 5.68% from CNY 236,758,875.39 in the previous year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 250,663,852.13, up 7.17% from CNY 233,891,236.38 year-on-year[5]. - The basic earnings per share for the period was CNY 0.28, an increase of 7.69% from CNY 0.26 in the previous year[3]. - Total operating revenue for Q1 2025 reached ¥1,490,269,186.29, a slight increase of 1.0% compared to ¥1,475,743,576.44 in Q1 2024[19]. - Net profit for Q1 2025 was ¥249,898,291.04, representing an increase of 5.6% from ¥236,172,887.54 in Q1 2024[20]. - Earnings per share for Q1 2025 was ¥0.28, up from ¥0.26 in Q1 2024[21]. - The total comprehensive income for Q1 2025 was ¥253,262,352.60, an increase from ¥238,535,809.13 in Q1 2024[21]. Cash Flow - The net cash flow from operating activities was CNY 285,673,256.24, a significant increase of 309.34% compared to a negative cash flow of CNY -136,464,671.63 in the same period last year[3][8]. - Cash flow from operating activities generated ¥285,673,256.24, a significant recovery from a negative cash flow of -¥136,464,671.63 in Q1 2024[23]. - The net cash flow from investing activities was -$275,001,468.94, compared to -$233,704,966.26 in the previous period, indicating an increase in cash outflow by approximately 17.6%[25]. - Cash inflow from financing activities totaled $300,000,000.00, a significant decrease from $1,548,800,000.00 in the prior period, reflecting a decline of about 80.6%[25]. - The net cash flow from financing activities was $459,978.90, a sharp decline from $952,505,601.67, indicating a decrease of around 99.9%[25]. - The net increase in cash and cash equivalents was $15,269,631.18, a significant drop from $583,036,446.15, reflecting a decrease of about 97.4%[25]. - The ending balance of cash and cash equivalents was $2,608,951,626.14, down from $3,659,105,798.05, indicating a decline of approximately 28.7%[25]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 11,030,929,211.43, a decrease of 0.87% from CNY 11,127,254,062.84 at the end of the previous year[3]. - As of March 31, 2025, the total current assets amounted to RMB 5,968,483,213.11, a decrease from RMB 6,071,494,807.15 as of December 31, 2024, reflecting a decline of approximately 1.7%[13]. - The total assets as of March 31, 2025, were RMB 11,030,929,211.43, down from RMB 11,127,254,062.84, reflecting a decrease of approximately 0.9%[14]. - Total liabilities decreased to RMB 2,164,356,374.45 from RMB 2,517,671,243.17, a reduction of about 14%[15]. - The total equity remained stable at RMB 895,235,828.00, unchanged from the previous period[15]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 53,978[10]. - The largest shareholder, Zhejiang Zhongbei Jiuzhou Group Co., Ltd., holds 31.67% of the shares, with 51,500,000 shares pledged[10]. Operational Focus - The company is focused on expanding its CDMO business, benefiting from a steady increase in orders and a rich pipeline of clients and products[5]. Other Financial Metrics - The company's return on equity (ROE) increased to 2.89%, up 0.12 percentage points from 2.77% in the previous year[3]. - Research and development expenses for Q1 2025 totaled ¥67,680,193.57, an increase of 8.3% compared to ¥64,871,910.84 in Q1 2024[20]. - The company reported a decrease in financial expenses, with net financial costs of -¥4,451,028.66 in Q1 2025, compared to -¥18,888,019.97 in Q1 2024[20]. - Other comprehensive income after tax for Q1 2025 was ¥3,364,061.56, compared to ¥2,362,921.59 in Q1 2024, reflecting improved financial performance[21]. Accounting Changes - The company plans to implement new accounting standards starting in 2025, which may affect the financial statements[25]. - The company is led by Huari Rong, with Sha Yujie responsible for accounting work, and Wu An as the head of the accounting institution[25].

九洲药业（603456）公告，2025年第一季度营收为14.9亿元，同比增长0.98%；净利润为2.5亿元，同比 增长5.68%。 ...

Investment Rating - The investment rating for the company is "Accumulate" [3][6]. Core Views - The company reported a revenue of 5.16 billion yuan for 2024, a year-on-year decrease of 6.57%, and a net profit attributable to shareholders of 606 million yuan, down 41.34% year-on-year [1][2]. - The decline in performance is attributed to intensified industry competition leading to price reductions and asset impairment provisions [2]. - Future growth is expected to be supported by a rich CDMO pipeline and strategic expansion into peptide and conjugate businesses, enhancing project penetration rates with key clients and acquiring new orders [2]. Financial Performance Summary - In 2024, the CDMO business generated 3.87 billion yuan, accounting for 75% of total revenue, with a year-on-year decline of 5.1% [5]. - The specialty API business saw a revenue of 1.16 billion yuan, down 8% year-on-year, with a gross margin of 20.1%, significantly lower than 32.9% in 2023 [5]. - The company has established a TIDES business unit focusing on peptide projects and has invested 145 million yuan to expand peptide production capacity [5]. Earnings Forecast and Valuation - Revenue forecasts for 2025-2027 have been adjusted to 5.685 billion yuan, 6.262 billion yuan, and 6.937 billion yuan respectively, with EPS estimates of 0.99 yuan, 1.07 yuan, and 1.21 yuan [3][8]. - The projected PE ratios for 2025, 2026, and 2027 are 12.73, 11.74, and 10.38 respectively [8].

浙江 九洲药业 股份有限公司作为一家技术驱动的行业领先CDMO企业，在2024年面对复杂的市场环 境，其经营状况备受关注。本文将基于该公司2024年年报，对其关键财务指标、费用情况、现金流及风 险等方面进行深入解读，为投资者提供全面的分析。 关键财务指标解读 营业收入：略有下滑，市场竞争影响显著 2024年，九洲药业营业收入为5,160,584,725.38元，相较于2023年的5,523,418,175.43元，减少了6.57%。 从业务板块来看，化学 原料药 及中间体的生产销售及服务收入为5,086,343,197.25元，同比减少 5.91%。公司解释称，市场竞争加剧是导致营业收入下滑的主要原因。在竞争激烈的市场环境下，公司 产品价格下降，销售业务量也随之减少，进而影响了整体营收。 基本每股收益为0.68元/股，2023年为1.16元/股，减少了41.38%。这与净利润的下降趋势一致，意味着 股东的每股收益明显减少，公司的经营业绩对股东回报产生了负面影响，投资者的收益预期可能需要进 行相应调整。 扣非每股收益：同样下滑，凸显主业盈利挑战 扣除非经常性损益后的基本每股收益为0.66元/股，2023年为1. ...

证券代码：603456 证券简称：九洲药业 公告编号：2025-019 浙江九洲药业股份有限公司 关于变更回购股份用途并注销的公告 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。 重要内容提示： 公司于 2025 年 4 月 10 日召开了第八届董事会第十三次会议，审议通过了《关 于变更回购股份用途并注销的议案》，拟对公司 2024 年度回购方案的股份进行用 途变更并注销，现就相关情况公告如下： 一、公司回购方案情况 公司于 2023 年 12 月 26 日收到董事长花莉蓉女士《关于提议浙江九洲药业 股份有限公司回购公司股份的函》，花莉蓉女士提议公司以自有资金通过集中竞 价交易方式进行股份回购，并在未来适宜时机用于股权激励或员工持股计划。具 体内容详见公司在《上海证券报》和上海证券交易所网站（www.sse.com.cn）披 露的相关公告（公告编号：2023-117）。 公司于 2024 年 1 月 4 日召开第八届董事会第二次会议，审议通过了《关于 以集中竞价交易方式回购公司股份的议案》。同意公司使用自有资金以集中竞价 交易 ...