Autobio Diagnostics CO., Ltd. 安图生物2024年年度股东大会会议材料 郑州安图生物工程股份有限公司 郑州安图生物工程股份有限公司 2024 年年度股东大会会议材料 （股票代码：603658） 河南·郑州 二○二五年五月 1 Autobio Diagnostics CO., Ltd. 安图生物2024年年度股东大会会议材料 郑州安图生物工程股份有限公司 一、程序文件 二、提交股东大会审议的议案 审阅事项：《2024 年度独立董事述职报告》 2 1. 会议议程 2. 会议须知 1. 《2024 年度董事会工作报告》 2. 《2024 年度监事会工作报告》 3. 《2024 年度财务决算报告》 4. 《2025 年度财务预算报告》 5. 《关于公司 2024 年度利润分配方案的议案》 6. 《关于〈2024 年年度报告及摘要〉的议案》 7. 《关于公司 2024 年度募集资金存放和实际使用专项报告的议案》 8. 《关于续聘公司 2025 年度审计机构的议案》 9. 《关于董事、高级管理人员薪酬方案的议案》 10. 《关于变更注册资本暨修订〈公司章程〉的议案》 郑州安图生物工程股份有限公 ...

Core Insights - The company reported a revenue of 4.471 billion yuan for 2024, showing a year-on-year increase of 0.62%, while the net profit attributable to shareholders was 1.194 billion yuan, reflecting a decrease of 1.89% year-on-year [1] - The company's Q4 2024 revenue was 1.091 billion yuan, down 9.16% year-on-year, with a net profit of 238 million yuan, down 24.72% year-on-year [1] - For Q1 2025, the company achieved a revenue of 996 million yuan, a decrease of 8.56% year-on-year, and a net profit of 270 million yuan, down 16.76% year-on-year [1] Business Performance - The immunodiagnostics business remained stable, with significant growth in the molecular diagnostics segment and overseas operations. In 2024, immunodiagnostics revenue reached 2.556 billion yuan, up 2.9%, while molecular diagnostics revenue surged by 101% to 35 million yuan [2] - The overall revenue from domestic operations was 4.105 billion yuan, down 1.3%, but the gross margin improved to 68.64%, an increase of 1.43 percentage points, driven by the growth in molecular diagnostics and high-end equipment installations [2] - The overseas market saw a revenue increase of 36.25%, reaching 284 million yuan, as the company accelerated its global expansion [2] R&D and Product Development - The company invested 732 million yuan in R&D in 2024, accounting for 16.37% of its revenue, focusing on new product registrations and upgrading product structures [3] - New product registrations included 144 items, expanding the antibody detection series to 33 items covering six major disease categories [3] - The company launched several new instruments, including the AutoChem B2000 and B800 series, and advanced mass spectrometry systems, enhancing its high-end product matrix [3] Future Outlook - Revenue projections for 2025-2027 are estimated at 4.604 billion, 5.068 billion, and 5.559 billion yuan, with year-on-year growth rates of 2.96%, 10.09%, and 9.68% respectively [4] - Net profit forecasts for the same period are 1.261 billion, 1.421 billion, and 1.597 billion yuan, with growth rates of 5.60%, 12.63%, and 12.43% respectively [4] - The current price-to-earnings ratio is projected to be 18, 16, and 14 times for the years 2025, 2026, and 2027 respectively [4]

Core Viewpoint - The company reported a slight increase in revenue for 2024 but faced a decline in net profit, indicating pressure on its financial performance while maintaining a stable gross margin [2][3]. Financial Performance - In 2024, the company achieved revenue of 4.471 billion, a year-on-year increase of 0.62% - The net profit attributable to shareholders was 1.194 billion, a year-on-year decrease of 1.89% - The net profit excluding non-recurring items was 1.099 billion, down 7.30% year-on-year - For Q1 2025, revenue was 996 million, a year-on-year decline of 8.56% - The net profit attributable to shareholders for Q1 2025 was 270 million, down 16.76% - The net profit excluding non-recurring items for Q1 2025 was 257 million, a decrease of 18.19% [2]. Gross Margin Analysis - The company's gross margin improved to 65.41%, an increase of 0.34 percentage points year-on-year - Revenue from reagent products was 3.797 billion, a slight decline of 0.48%, with a gross margin of 70.94% - Instrument revenue grew by 8.85% year-on-year, with a gross margin of 37.93% - Overseas business showed strong performance, achieving revenue of 284 million, a year-on-year increase of 36.25% [3]. R&D Investment - R&D investment reached 732 million in 2024, an increase of 11.55%, accounting for 16.37% of total revenue - The company obtained 144 new product registration certificates, enhancing its product portfolio - New products launched include the AutoChem B2000 and B8000 series in biochemical diagnostics and the Autof T series in microbiological testing, which are expected to drive revenue growth [4]. International Expansion and AI Development - The company is actively expanding its overseas business, with products now available in over 100 countries across Asia, Europe, North America, South America, and Africa - In AI, the company introduced a smart construction plan for regional medical testing centers and developed an "AI Clinical Decision Support System" tailored for medical laboratories and clinical decision-making - These strategic initiatives are aimed at enhancing the company's competitive edge and market influence [5].

点击注册小程序 查看完整报告 报告摘要 公司发布 2024 年年报及 2025 年一季报。2024 年公司实现营业收入 44.71 亿元，同比增长 0.62%；归母净利润 11.94 亿元，同比下降 1.89%；扣非归母净利润 10.99 亿元，同比下降 7.30%。2025 年第一季度公司实现营业 收入 9.96 亿元，同比下降 8.56%；归母净利润 2.70 亿元，同比下降 16.76%；扣非归母净利润 2.57 亿元，同比 下降 18.19%。 检测领域，全新一代全自动微生物质谱检测系统 Autof T 系列推向市场。各产品线产品的不断推出有望促进营 收进一步增长。 事件： 点评： 公司24年业绩承压，毛利率有所提升 2024 年公司营收承压，但毛利率提升至65.41%（同比+0.34 pct）。分业务看，试剂类收入37.97亿元，同比下 滑0.48%，毛利率70.94%；仪器类收入同比增长8.85%，毛利率提升至37.93%。分地区来看，海外业务表现较 为亮眼，实现营收2.84亿元，同比增长36.25%。 研发投入稳定增长，新产品不断推出 2024年公司研发投入7.32 亿元，同比增长 11.55% ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for long-term development despite recent performance challenges [5]. Core Insights - The company faced pressure on its performance in 2024, with revenue of 4.471 billion yuan, a year-on-year increase of 0.62%, and a net profit attributable to shareholders of 1.194 billion yuan, a decrease of 1.89% [1][2]. - The gross margin improved to 65.41%, up by 0.34 percentage points year-on-year, despite a decline in revenue from reagent products [2]. - The company has been actively expanding its overseas business, achieving revenue of 284 million yuan from international markets, a growth of 36.25% year-on-year [2][3]. - Research and development investment increased by 11.55% to 732 million yuan, representing 16.37% of total revenue, with 144 new product registrations [2][3]. Summary by Sections Financial Performance - In 2024, the company reported total revenue of 4.471 billion yuan and a net profit of 1.194 billion yuan, with a decline in net profit margin to 26.7% [4][10]. - The first quarter of 2025 showed a revenue of 996 million yuan, down 8.56% year-on-year, and a net profit of 270 million yuan, down 16.76% [1][4]. Revenue Breakdown - Reagent revenue was 3.797 billion yuan, down 0.48%, while instrument revenue grew by 8.85% [2]. - The gross margin for reagents was 70.94%, while for instruments, it improved to 37.93% [2]. R&D and Product Development - The company launched new products in the biochemical diagnostics and microbiological testing fields, which are expected to drive future revenue growth [2][3]. Market Expansion - The company has established a presence in over 100 countries and regions, focusing on enhancing its competitive advantage through strategic global market expansion [3]. Profit Forecast and Valuation - The profit forecasts for 2025 and 2026 have been revised downwards to 1.264 billion yuan and 1.473 billion yuan, respectively, due to industry procurement policies [3][4]. - The current price corresponds to a price-to-earnings ratio of 18 for 2025, 16 for 2026, and 13 for 2027 [3][4].

Investment Rating - The report indicates a positive outlook for the weight loss drug sector within the pharmaceutical and biotechnology industry, suggesting potential acceleration in business development (BD) opportunities [2]. Core Insights - The pharmaceutical and biotechnology sector experienced a slight decline of -0.36% from April 14 to April 18, underperforming compared to the Wind All A index (0.39%) and the CSI 300 index (0.59). The market showed a preference for defensive sectors, with chemical preparations (0.62%), traditional Chinese medicine (0.6%), and offline pharmacies (0.19%) showing minor gains, while blood products (-4.39%), other biological products (-1.78%), and vaccines (-1.49%) saw significant pullbacks [2][7]. - The GLP-1 receptor agonists are expected to catalyze growth in the weight loss drug sector. Notably, Eli Lilly announced positive results from the Phase III ACHIEVE-1 study for its oral drug Orforglipron, which is set to expand the application of GLP-1 drugs. This class of drugs is becoming a focal point for multinational corporations (MNCs) in the metabolic disease space, with domestic companies poised to benefit from rapid innovation and lower R&D costs [2][12]. Market Weekly Review - The pharmaceutical and biotechnology sector's performance from April 14 to April 18 showed a decline of -0.36%, with the market favoring defensive stocks. The top gainers included Shuangcheng Pharmaceutical (56.4%), Kangpeng Technology (56.3%), and Lifang Pharmaceutical (47.1%), while the largest losers were *ST Jiyuan (-50.7%), Hasanlian (-19.1%), and Changyao Holdings (-18.5%) [7][10]. Industry News and Key Company Announcements - On April 17, Eli Lilly announced that its oral GLP-1 receptor agonist Orforglipron achieved positive results in its Phase III study, showing significant reductions in A1C levels and weight loss compared to placebo [12]. - Pfizer terminated the development of its GLP-1 small molecule receptor agonist Danuglipron due to potential liver damage in trial participants [12]. - The report highlights several companies making strides in the industry, including the approval of new indications for Merck's Gardasil 9 HPV vaccine and the progress of various clinical trials for innovative drugs [13][14].

Investment Rating - The investment rating for the company is "Buy" (maintained) [2][19] Core Views - The report indicates that the company's short-term performance is impacted by policies such as centralized procurement and price reductions, but new products like overseas expansion and sequencing are expected to drive future growth [1][5] - The company reported a slight increase in revenue for 2024, with a total of 4.471 billion yuan, representing a year-on-year growth of 0.62%, while the net profit attributable to shareholders decreased by 1.89% to 1.194 billion yuan [3][5] - The report anticipates that the company's business will gradually stabilize and recover starting in 2025, following the full implementation of relevant adjustment policies [5][6] Financial Performance Summary - For 2023, the company achieved a revenue of 4.444 billion yuan, with a year-on-year growth rate of 0% [2] - The projected revenues for 2025, 2026, and 2027 are 4.789 billion yuan, 5.747 billion yuan, and 6.837 billion yuan, respectively, with growth rates of 7%, 20%, and 19% [2][5] - The net profit for 2025 is expected to be 1.251 billion yuan, reflecting a growth of 5% compared to the previous year [2][5] Cost and Profitability Analysis - The company's gross margin for 2024 was reported at 65.41%, showing a slight increase of 0.34 percentage points year-on-year [5] - The net profit margin for 2024 was 26.82%, which is a decrease of 0.73 percentage points compared to the previous year [5] - The report highlights that the company has maintained stable expense ratios, with a notable increase in R&D expenses due to investments in new products [5][6] Market Position and Future Outlook - The company is expected to face short-term pressure due to price reductions from centralized procurement policies, but it is projected to see a recovery in its business starting in 2025 [5][6] - The report emphasizes the company's commitment to innovation, with R&D expenditures increasing from 12.87% in 2022 to 16.37% in 2024, ensuring product innovation and market competitiveness [5][6] - The company has expanded its global footprint, entering over 100 countries and regions, with overseas revenue reaching 284 million yuan in 2024, a year-on-year growth of 36.25% [5][6]

Investment Rating - The report maintains a "Recommended" rating for the company [1][9]. Core Views - The company achieved a slight increase in revenue for 2024, with a total of 4.471 billion yuan, up 0.62% year-on-year, while net profit attributable to shareholders was 1.194 billion yuan, down 1.89% year-on-year [4][5]. - The company faces multiple policy impacts in the domestic in vitro diagnostics industry, leading to a slowdown in revenue growth, which is expected to continue into Q1 2025 [5]. - The company has seen robust growth in its immune diagnostics and international markets, with international revenue increasing by 36.25% year-on-year [6][9]. Summary by Sections Financial Performance - In 2024, the company reported a revenue of 4.471 billion yuan and a net profit of 1.194 billion yuan, with a gross margin of 65.36% [4][5]. - For Q1 2025, the company reported a revenue of 996 million yuan, down 8.56% year-on-year, and a net profit of 270 million yuan, down 16.76% year-on-year [4][5]. Business Segments - The immune diagnostics segment generated 2.556 billion yuan in revenue, up 2.91% year-on-year, while microbiological testing revenue was 361 million yuan, up 11.48% year-on-year [6]. - The molecular diagnostics segment saw a significant increase in revenue, reaching 35 million yuan, up 101.01% year-on-year [6]. Market Outlook - The company is expected to leverage its extensive product line to capture opportunities arising from policy changes in the domestic market [6]. - The international market is anticipated to become a new growth point, with products entering over 100 countries and regions [6][9]. Research and Development - The company has increased its R&D investment, with R&D expenses reaching 732 million yuan, accounting for 16.37% of revenue [5][8]. - New product registrations and advancements in various diagnostic fields have enhanced the company's product offerings and brand influence [8]. Future Projections - The company forecasts net profits of 1.295 billion yuan, 1.588 billion yuan, and 1.949 billion yuan for 2025, 2026, and 2027, respectively [9].

登录新浪财经APP 搜索【信披】查看更多考评等级 公司代码：603658 公司简称：安图生物 第一节 重要提示 1、本年度报告摘要来自年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规划，投 资者应当到www.sse.com.cn网站仔细阅读年度报告全文。 2、本公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实性、准确性、完整 性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 3、公司全体董事出席董事会会议。 4、中勤万信会计师事务所（特殊普通合伙） 为本公司出具了标准无保留意见的审计报告。 5、董事会决议通过的本报告期利润分配预案或公积金转增股本预案 公司第五届董事会第四次会议审议通过的2024年度利润分配预案：经中勤万信会计师事务所（特殊普通 合伙）审计，截至2024年12月31日，公司母公司会计报表中期末未分配利润为人民币3,279,390,877.43 元。公司拟向全体股东每股派发现金红利1.26元（含税），截至2025年4月16日，公司总股本 571,424,768股，以此计算合计拟派发现金红利719,995,207.68元（含税），占报告期内合并 ...

Group 1 - The company intends to reappoint Zhongqin Wanxin Certified Public Accountants (Special General Partnership) as its auditing firm for the year 2025 [3][14][15] - Zhongqin Wanxin has been established since December 2013 and holds qualifications for auditing securities and futures-related businesses [3][5] - The firm reported a total revenue of 476 million yuan for 2024, with auditing business revenue of 407 million yuan and securities futures business revenue of 108 million yuan [5][6] Group 2 - The company has decided to change its accounting estimates regarding the capitalization of research and development expenditures, effective from January 1, 2025 [19][20][24] - The change aims to better reflect the company's financial status and operational results, aligning with the actual conditions of its R&D activities [22][26] - The company will not retroactively adjust previously disclosed financial statements due to this change, ensuring no impact on past financial results [25][36] Group 3 - The company has also announced a change in its accounting policy based on the Ministry of Finance's new interpretations, which will not significantly affect its financial status or cash flows [31][36] - The new policy will be implemented from January 1, 2024, and is aimed at improving the accuracy of financial reporting [35][36] - The company has completed a share buyback program, reducing its total share capital from 581,011,346 shares to 571,424,768 shares [37][38]