Group 1: Small Molecule CDMO Business - The company focuses on technological innovation to build a leading global CDMO platform for innovative drugs, serving major pharmaceutical companies like Novartis [1] - The sales of the company's Noxintin project raw materials have significantly increased, with sales growing from $507 million in 2017 to $7.822 billion in 2024, reflecting a CAGR of 47.83% [1] - In the first half of 2025, sales reached $4.618 billion, representing a year-on-year growth of 22.27% [1] Group 2: Peptide Conjugate CDMO Services - The company has established a TIDES division to expand peptide conjugate drug and small nucleic acid technology platforms, providing comprehensive CDMO services from preclinical research to commercial production [2] - The company is actively expanding its peptide production capacity, with the second phase of peptide capacity construction initiated by the end of 2024, including the expansion of OEB5 level high-activity workshops [2] Group 3: API Business - The company is strategically positioning itself in the market by focusing on specialty APIs in areas such as anti-infectives, central nervous system drugs, non-steroidal anti-inflammatory drugs, and hypoglycemic agents [3] - Sales of anti-infective APIs increased from 292.46 tons in 2021 to 325.32 tons in 2024, with a CAGR of approximately 3.61% [3] - Sales of central nervous system APIs grew from 863.34 tons in 2021 to 1003.08 tons in 2024, with a CAGR of approximately 5.13% [3] - Sales of non-steroidal APIs rose from 298.93 tons in 2021 to 368.45 tons in 2024, with a CAGR of approximately 7.22% [3] - Sales of hypoglycemic APIs increased from 328.26 tons in 2021 to 362.66 tons in 2024, with a CAGR of approximately 3.38% [3] Group 4: Investment Recommendations - The company is projected to achieve net profits attributable to shareholders of 921 million yuan, 1.052 billion yuan, and 1.158 billion yuan from 2025 to 2027, representing year-on-year growth of 52.0%, 14.2%, and 10.0% respectively [4] - Based on the average valuation of comparable A-share listed companies, a PE ratio of 23 times is assigned for 2025, with an expected EPS of 1.04 yuan per share, leading to a target price of 23.92 yuan per share in six months [4]

8月5日，国家医保局发文指出，按照国务院关于优化药品集采措施的部署要求，国家医保局坚持"稳临 床、保质量、防围标、反内卷"的原则，会同相关部门优化完善集采措施，指导国家组织药品联合采购 办公室（以下简称"药品联采办"）积极推进第十一批国家组织药品集采，确定了55种药品拟纳入采购范 围。 根据国家医保局方面披露，7月16日至31日，药品联采办组织开展相关药品信息填报工作。据药品联采 办统计，共480家企业提交了相关药品的资料信息，这些企业将作为医疗机构填报需求量的选择范围。 55个拟采购品种中，平均每个品种有15家企业，有3个品种的企业超过40家，企业数最多的达45家。 21点评：2018年以来，国家层面已经开展了十批药品集采，覆盖了435种药品，地方也相继开展了省级 和省际联盟集采，形成了协同补充的工作格局。 国家卫生健康委：医疗机构门诊命名不得使用暗示疗效名称 据央视新闻客户端8月5日报道，针对部分医疗机构使用模糊、笼统或容易混淆的门诊名称，少数医疗机 构为吸引患者，利用谐音、形容词等暗示疗效的门诊名称误导患者等情况，国家卫生健康委近日发布 《关于规范医疗机构门诊名称管理工作的通知》，强调医疗机构要遵循依法 ...

Group 1 - The core viewpoint of the news is that Jiuzhou Pharmaceutical (603456.SH) has reported its half-year results for 2025, revealing significant institutional investor holdings and changes in share ownership [1] - As of August 5, 2025, a total of 14 institutional investors hold 378 million shares of Jiuzhou Pharmaceutical, accounting for 42.55% of the total share capital [1] - The top ten institutional investors collectively hold 42.53% of the shares, with a decrease of 1.62 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, there was an increase in holdings from one public fund, Huabao CSI Medical ETF, while one public fund, China Europe Medical Health Mixed Fund, saw a decrease of 0.49% [2] - Eight new public funds disclosed their holdings this period, including Jinguan Taifu Technology-Driven Mixed A and others [2] - One foreign fund, Hong Kong Central Clearing Limited, reduced its holdings by 0.23% compared to the previous quarter [2]

Core Viewpoint - The company, Zhejiang Jiuzhou Pharmaceutical Co., Ltd., has announced its 2025 semi-annual report, highlighting its financial performance, profit distribution plan, and the use of raised funds for project investments [1][4][6]. Company Overview - Jiuzhou Pharmaceutical is recognized as a leading CDMO (Contract Development and Manufacturing Organization) in the pharmaceutical industry, focusing on innovative drug solutions and maintaining a commitment to quality and customer service [61]. - The company has achieved significant recognition, including being listed among the top 20 CDMO companies in China and receiving multiple awards for corporate social responsibility [61]. Financial Data - For the first half of 2025, the company reported a revenue of 2.871 billion yuan and a net profit attributable to shareholders of 526 million yuan [61]. - The company plans to distribute a cash dividend of 2.00 yuan per 10 shares, totaling approximately 176.34 million yuan, which represents 52.93% of the net profit for the period [39][64]. Profit Distribution Plan - The profit distribution plan for the first half of 2025 includes a cash dividend of 2.00 yuan per 10 shares, with the total cash dividend amounting to 176,342,005.60 yuan [39][64]. - The distribution will be based on the total share capital as of the dividend record date, excluding shares held in the repurchase account [39][41]. Fundraising and Investment - The company has raised a total of approximately 2.5 billion yuan through a non-public offering of shares, with a net amount of about 2.49 billion yuan after deducting issuance costs [16][45]. - A portion of the raised funds, amounting to 200 million yuan, will be used to increase capital for the "Jiuzhou Pharmaceutical (Taizhou) Co., Ltd. Innovative Drug CDMO Production Base Construction Project" [10][14][21]. Management of Raised Funds - The company has established a specialized account for managing the raised funds, ensuring compliance with regulatory requirements and protecting investor interests [46][49]. - The management of the raised funds is governed by a set of internal regulations to enhance efficiency and effectiveness in fund utilization [46][49]. Strategic Initiatives - The company is committed to enhancing its research and development capabilities, focusing on innovative technologies in green pharmaceuticals [68]. - Jiuzhou Pharmaceutical aims to improve its market position and competitiveness through strategic partnerships and expanding its CDMO business [61].

证券代码：603456 证券简称：九洲药业 公告编号：2025-050 重要内容提示： ? 增资标的名称：九洲药业（台州）有限公司（原名"瑞博（台州）制药 有限公司"，以下简称"九洲药业（台州）"） ? 增资金额：浙江九洲药业股份有限公司（以下简称"公司"）以募集资金 期工程）"实施主体九洲药业（台州）进行增资。本次增资事项已经公司第八届 董事会第十六次会议和第八届监事会第十次会议审议通过，无需提交股东大会审 议。 ? 本次增资对本公司财务状况和经营成果无不利影响。 公司于 2025 年 8 月 5 日召开第八届董事会第十六次会议和第八届监事会第 十次会议，审议通过了《关于使用部分募集资金向募投项目实施主体增资实施募 投项目的议案》，现将有关情况披露如下： 一、募集资金基本情况 经中国证券监督管理委员会（以下简称"中国证监会"） 《关于核准浙江九洲 浙江九洲药业股份有限公司 关于使用部分募集资金向募投项目实施主体增资 实施募投项目的公告 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。 二、募集资金投资项目情况 本次非公开发行股 ...

Core Viewpoint - Zhejiang Jiuzhou Pharmaceutical Co., Ltd. reported a revenue increase of 3.86% year-on-year for the first half of 2025, reaching approximately 2.87 billion yuan, with a net profit attributable to shareholders of approximately 525.83 million yuan, reflecting a 10.70% increase compared to the previous year [5][6][18]. Financial Performance - The company achieved total revenue of 2,870,947,333.22 yuan in the first half of 2025, compared to 2,764,279,820.31 yuan in the same period last year, marking a 3.86% increase [3]. - The total profit for the period was 650,314,797.16 yuan, up 17.20% from 554,870,663.04 yuan in the previous year [3]. - The net profit attributable to shareholders was 525,831,348.24 yuan, an increase of 10.70% from 474,988,640.43 yuan [3]. - The net cash flow from operating activities increased significantly by 164.50%, reaching 845,148,144.61 yuan [3]. Business Overview - The company operates as a leading Contract Development and Manufacturing Organization (CDMO), providing comprehensive pharmaceutical development and manufacturing services, including small molecule drugs, peptide drugs, conjugated drugs, and oligonucleotide drugs [4][5]. - The global CDMO market has shown robust growth, with a compound annual growth rate (CAGR) of 39.9% in China from 2018 to 2023, and is projected to reach 208.4 billion yuan by 2028 [4][5]. - The company has established long-term partnerships with well-known pharmaceutical companies, enhancing its reputation as a trusted partner in the global innovative drug development sector [4][5]. Technological Advancements - The company has developed multiple technology platforms, including continuous flow technology, chiral catalysis, fluorine chemistry, and biocatalysis, which are essential for enhancing its R&D capabilities [6][10]. - The company has successfully expanded its peptide and conjugated drug platforms, providing services for complex compound synthesis and meeting international regulatory standards for green production [12][13]. - The company has applied for numerous patents, reflecting its commitment to innovation and maintaining a competitive edge in the pharmaceutical industry [10][12]. Market Position and Strategy - The company has focused on expanding its customer base and deepening relationships with major clients, resulting in a steady increase in project orders and revenue from commercialized projects [5][15]. - The company has been recognized with multiple awards, including being listed among the top 20 CDMO companies in China for 2025, highlighting its industry leadership and commitment to quality [5][15]. - The company is actively participating in international conferences and exhibitions to enhance its brand visibility and expand its market reach [15].

浙江九洲药业股份有限公司2025 年半年度报告摘要 公司代码：603456 公司简称：九洲药业 浙江九洲药业股份有限公司 浙江九洲药业股份有限公司2025 年半年度报告摘要 第一节 重要提示 | 股票种类 股票上市交易所 | 股票简称 | 股票代码 | | 变更 | | --- | --- | --- | --- | --- | | 前股票简称 | | | | | | A股 上海证券交易所 | 九洲药业 | 603456 | - | | | 联系人和联系方式 董事会秘书 | | | 证券事务代表 | | | 姓名 林辉潞 | | 王贝贝、周星 | | | | 电话 0576-88706789 | | 0576-88706789 | | | | 办公地址 浙江省台州市椒江区外沙路99号 | | 浙江省台州市椒江区外沙路 | | | | 99号 | | | | | | 电子信箱 603456@jiuzhoupharma.com | | 603456@jiuzhoupharma.com | | | | | 单位：元 | 币种：人民币 | | | | | | 本报告期末比上 | | | | 本报告期末 | 上年度末 ...

证券代码：603456 证券简称：九洲药业 公告编号：2025-048 浙江九洲药业股份有限公司 关于 2025 年半年度利润分配方案的公告 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： 公司拟向全体股东每股派发现金红利 0.20 元（含税）。截至 2025 年 6 月 30 日，公司总股本 889,446,028 股，扣除回购专用账户股份 7,736,000 股，即以 派发现金红利 176,342,005.60 元（含税）。 现金为对价，采用集中竞价方式已实施的股份回购金额为 101,991,071.00 元（不 含交易费用），现金分红和回购金额合计 278,333,076.60 元，占 2025 年半年度归 属于上市公司股东净利润（未经审计）的比例为 52.93%。 如在本公告披露之日起至实施权益分派股权登记日期间，因回购股份及股份 注销等致使公司总股本发生变动的，公司拟维持每股分配比例不变，相应调整分 配总额。如后续总股本发生变化，将另行公告具体调整情况。 公司于 2025 年 5 月 8 日召开 20 ...

证券代码：603456 证券简称：九洲药业 公告编号：2025-049 浙江九洲药业股份有限公司 关于公司 2025 年半年度募集资金存放与使用情况的 专项报告 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。 为了规范募集资金的管理和使用，提高资金使用效率，保护投资者权益，浙 江九洲药业股份有限公司（以下简称"公司"）根据中国证券监督管理委员会《上 市公司募集资金监管规则》及《上海证券交易所上市公司自律监管指引第 1 号— —规范运作》及相关格式指引的规定，将本公司 2025 年半年度募集资金存放与 使用情况专项报告公告如下： 一、募集资金基本情况 (一) 2020 年非公开发行募集资金情况 经中国证券监督管理委员会《关于核准浙江九洲药业股份有限公司非公开发 行股票的批复》 （证监许可[2021]97 号）核准，公司非公开发行人民币普通股（A 股 ） 股 票 26,171,159 股， 发 行价格 为 38.21 元 /股，募 集资金 总额为人 民 币 集资金净额为人民币 990,619,373.71 元。上述募集资金到位情况 ...

Core Viewpoint - The report outlines Zhejiang Jiuzhou Pharmaceutical Co., Ltd.'s commitment to enhancing quality and efficiency while returning value to shareholders through strategic initiatives and financial performance [1][2]. Group 1: Focus on Core Business and High-Quality Development - The company is an industry-leading CDMO enterprise, emphasizing innovation and customer service to support global drug development [1]. - In the first half of the year, the company achieved operating revenue of 2.871 billion yuan and a net profit attributable to shareholders of 526 million yuan [1]. - The company received multiple accolades, including being ranked among the top 20 Chinese pharmaceutical CDMO companies and receiving a "Gold Medal" certification from EcoVadis for corporate social responsibility [1]. Group 2: Continuous Cash Dividends and Shareholder Returns - The company prioritizes shareholder interests by consistently implementing cash dividends, distributing over 30% of the annual net profit since its listing in 2014 [2]. - For the 2024 annual profit distribution, the company plans to distribute 3.00 yuan per 10 shares, totaling approximately 265.76 million yuan, which represents 60.33% of the 2024 net profit [2]. - The mid-year profit distribution plan for 2025 proposes a dividend of 2.00 yuan per 10 shares, amounting to 52.93% of the mid-year net profit [2]. Group 3: Share Buyback Plans - The company intends to use between 100 million yuan and 200 million yuan for a share buyback program to enhance investor confidence and promote long-term stability [3]. - As of May 15, 2025, the company completed a buyback of 7,736,000 shares for a total payment of approximately 101.99 million yuan [3]. Group 4: Accelerating New Productive Forces - The company focuses on R&D innovation as a core driver of growth, leveraging its extensive experience in drug development and proprietary green pharmaceutical technologies [4][5]. - Collaborations with academic institutions have led to significant advancements in chemical synthesis and continuous reaction technologies [5]. Group 5: Enhancing Communication Channels and Company Value - The company aims to optimize information disclosure and improve investor relations by providing clear and accessible reports [6]. - Active participation in investor engagement activities, such as shareholder meetings and performance briefings, fosters trust and collaboration with investors [6]. Group 6: Strengthening Governance Mechanisms - The company adheres to legal regulations and continuously improves its governance practices to ensure effective operation [7]. - The company has received recognition for its ESG efforts, including being included in the FTSE Russell Social Responsibility Index and achieving a "Gold Medal" rating from EcoVadis [7].