Core Insights - In 2024, the company achieved operating revenue of 1.32 billion yuan, a year-on-year increase of 10.16%, while net profit attributable to shareholders was 63 million yuan, a decline of 22.39% [1] - The decline in profit is attributed to increased depreciation expenses after the completion of the animal health industrial park, a 17.49% rise in management expenses, and a 46.48% increase in financial expenses due to interest expenses being recognized as costs [1] Enzyme Business - The enzyme business generated revenue of 505 million yuan in 2024, a year-on-year growth of 14.34%, becoming the main driver of the company's revenue growth [2] - The gross profit margin reached 63.69%, an increase of 2.89 percentage points, driven by continuous investment in technological innovation and optimization of production processes [2] - The company is expanding into various fields including industrial enzymes, food enzymes, and pharmaceutical enzymes, and has established an AI technology development laboratory to enhance R&D efficiency [2] Animal Health Products - Revenue from the animal health products business was 308 million yuan in 2024, a slight increase of 3.56%, but the gross profit margin fell to 33.51%, down 8.23 percentage points [3] - The decline in gross profit margin is primarily due to increased depreciation after the industrial park's completion, but long-term benefits are expected from improved product structure and quality [3] - The company plans to focus on biological products, particularly pig vaccines and imported generics, while also expanding into the pet medicine sector [3] Capacity and R&D Investment - With the increase in new capacity utilization and the gradual release of new products, the profitability of the animal health business is expected to recover [4] - The company invested 118 million yuan in R&D in 2024, a year-on-year increase of 6.81%, accounting for 8.95% of revenue, with 266 R&D personnel [4] - The company has established six technology centers and two key laboratories, with major projects expected to be operational by 2025, laying a foundation for future growth [4] Profit Forecast and Investment Recommendation - The expected EPS for 2025-2027 is projected to be 0.44 yuan, 0.51 yuan, and 0.60 yuan, corresponding to dynamic PE ratios of 29, 24, and 21 times, respectively, maintaining a "hold" rating [4]

特此公告。 青岛蔚蓝生物股份有限公司董事会 2025 年 5 月 1 日 本公司董事会及全体董事保证本公告内容不存在虚假记载、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。 为进一步加强与投资者的互动交流，青岛蔚蓝生物股份有限公司（以下简称 "公司"）将参加由青岛证监局指导，青岛市上市公司协会与深圳市全景网络有 限公司联合举办的"2025 年青岛辖区上市公司投资者网上集体接待日活动"，现 将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net）；或关注微信公众号（名称：全景财经）；或下载全景路 演 APP,参与本次互动交流。活动时间为 2025 年 5 月 12 日（周一）15:00-17:00。 届时公司董事长兼总经理陈刚先生、董事兼财务总监乔丕远先生、董事会秘书姜 勇先生、独立董事林英庭先生、独立董事王京先生将以在线交流形式就公司治理、 发展战略、经营状况、融资计划、股权激励和可持续发展等投资者关注的问题与 投资者进行沟通与交流，欢迎广大投资者踊跃参与！ 证券代码：603739 证券简称：蔚蓝生物 公告编号：2 ...

Investment Rating - The report maintains a "Recommended" rating for the company, indicating a potential upside of over 15% relative to the benchmark index [6][8]. Core Views - The company experienced short-term pressure on performance, with a 10.16% year-on-year revenue growth to 1.32 billion yuan in 2024, but a 22.39% decline in net profit attributable to shareholders [3][4]. - The company is focusing on innovation and increasing R&D investment, which reached 118 million yuan in 2024, accounting for 8.95% of revenue, and is expected to drive long-term growth [5][6]. - The company has completed its capacity layout, enhancing multi-business synergy, with several projects operational by the end of 2024 [5]. Financial Performance Summary - In 2024, the company achieved revenue of 1.32 billion yuan, with a net profit of 63 million yuan, reflecting a decline in profitability due to increased competition and higher depreciation costs [3][4]. - For Q1 2025, the company reported revenue of 310 million yuan, a year-on-year increase of 8.16%, but a 24.73% decline in net profit [3][4]. - The company forecasts revenue growth rates of 10.2%, 8.4%, 8.9%, and 9.4% for the years 2024 to 2027, respectively [7][11]. Business Segment Performance - In 2024, the enzyme preparation segment generated 505 million yuan, the micro-ecology segment 193 million yuan, and the animal health products segment 308 million yuan, with respective gross margins of 63.69%, 37.29%, and 33.51% [4]. - For Q1 2025, the enzyme preparation segment achieved revenue of 120 million yuan, with a gross margin of 44.36% [4]. R&D and Innovation - The company has applied for 81 invention patents related to probiotics and has published 32 articles, enhancing its competitive strength in nutrition and health-related businesses [5][6]. - The integration of AI technology is expected to further strengthen the company's capabilities in product innovation and application design [5]. Future Earnings Forecast - The company is projected to achieve net profits of 74 million yuan in 2025, 81 million yuan in 2026, and 90 million yuan in 2027, with corresponding EPS of 0.29, 0.32, and 0.35 yuan [6][7].

青岛蔚蓝生物股份有限公司 关于获得新兽药注册证书的公告 本公司董事会及全体董事保证本公告内容不存在虚假记载、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。 根据《兽药管理条例》和《兽药注册办法》等的相关规定，经农业农村部审 查，批准青岛蔚蓝生物股份有限公司（以下简称"公司"）及全资子公司青岛康 地恩动物药业有限公司与其他单位联合申报的"非罗考昔咀嚼片"为二类新兽药， 批准公司全资子公司青岛康地恩动物药业有限公司与其他单位联合申报的"盐酸 聚六亚甲基双胍溶液"为三类新兽药，并于近日核发了《新兽药注册证书》（农 业农村部公告第 901 号）。 一、新兽药的基本信息 证券代码：603739 证券简称：蔚蓝生物 公告编号：2025-020 1、非罗考昔咀嚼片 新兽药名称：非罗考昔咀嚼片 研制单位：青岛蔚蓝生物股份有限公司、青岛康地恩动物药业有限公司、东 莞市东阳光动物保健药品有限公司、浙江海正动物保健品有限公司、江西瑞德制 药有限公司、湖北中博绿亚生物技术有限公司、四川吉星动物药业有限公司、河 北远征禾木药业有限公司、天津市中升挑战生物科技有限公司、江西邦诚动物药 业有限公司、内蒙古联邦动 ...

Core Viewpoint - Qingdao Weilan Bio Co., Ltd. reported steady revenue growth and profitability in its 2024 annual report and 2025 Q1 report, highlighting its commitment to technological innovation and global expansion in the biotechnology sector [1][2]. Group 1: Financial Performance - In 2024, the company achieved revenue of 1.321 billion yuan, a year-on-year increase of 10.16%, with a net profit of 62.6375 million yuan [1]. - For Q1 2025, the company reported revenue of 310 million yuan, reflecting a year-on-year growth of 8.16% [1]. Group 2: Business Focus and Strategy - The company specializes in the research, production, and sales of enzyme preparations, micro-ecological preparations, and animal health products, aiming to provide core technological support for biomanufacturing and clean energy solutions for traditional industries [1]. - The company adheres to a technology innovation strategy, increasing R&D investment to 118 million yuan in 2024, which accounts for 8.95% of its revenue, marking a year-on-year growth of 6.81% [1]. Group 3: Industry Context and Growth Potential - The enzyme and micro-ecological preparation sectors are recognized as strategic emerging industries in China, characterized by efficiency, safety, energy conservation, and environmental friendliness, with significant growth potential driven by increasing national focus on safety and environmental protection [2]. - In 2024, the enzyme preparation business generated revenue of 505 million yuan, representing a year-on-year increase of 14.34% [2]. Group 4: Production Capacity and Innovation - The company has completed its capacity layout, with its technology center and various production projects now operational, including the ongoing construction of a production line for refined enzyme products expected to be operational by August 2025 [2]. - Continuous innovation in biocatalytic enzymes is being pursued to enhance product quality and yield in the brewing industry, contributing to sustainable development [2].

Core Insights - The company reported a revenue of 1.321 billion yuan for the year 2024, representing a year-on-year growth of 10.16%, while the net profit attributable to shareholders decreased by 22.39% to 62.6375 million yuan [1] - The company invested 118 million yuan in R&D, accounting for 8.95% of its revenue, focusing on technological innovation and global expansion to strengthen its core competitiveness and promote sustainable development [1] Group 1: Enzyme Business - The enzyme segment achieved a revenue of 505 million yuan, reflecting a year-on-year increase of 14.34% [1] - The company has established four efficient protein expression systems and corresponding large-scale fermentation systems, which are crucial for the development of microbial production strains [1] Group 2: AI Integration and Animal Health - The company is exploring the deep integration of AI technology with biomanufacturing, establishing an AI technology development and application laboratory to enhance enzyme protein optimization and intelligent fermentation [2] - The company has built a comprehensive empowerment platform for animal health, providing systematic solutions covering animal nutrition, health breeding, and disease management [2] Group 3: Production Capacity and Future Plans - The company’s technology center and various production projects have commenced operations, with the production line for refined enzyme products expected to be operational by August 2025, indicating a systematic capacity layout across its business segments [2] - The company aims to support biomanufacturing with core technologies and provide clean energy solutions for traditional industries, focusing on multiple sectors including agriculture, food, health, and environmental protection [2]

青岛蔚蓝生物股份有限公司 2024 年度独立董事述职报告 （王京） 2024 年 12 月 20 日，在召开的公司第五届董事会独立董事专门会议第二次 会议上，审议并通过了预计公司 2025 年度日常关联交易的事项。 本人作为青岛蔚蓝生物股份有限公司（以下简称"公司"）第五届董事会独 立董事，2024 年任职期间，严格按照《公司法》《证券法》《上市公司独立董事 管理办法》《上海证券交易所上市公司自律监管指引第 1 号——规范运作》《公司 章程》及公司《独立董事制度》等规章制度的规定和要求，本着客观、公正、独 立的原则，勤勉尽责，独立履行职责，及时了解公司的生产经营及发展情况，准 时出席各种股东大会和董事会会议，积极发挥独立董事作用，有效维护了公司整 体利益和全体股东的合法权益。现将 2024 年度履行职责情况汇报如下： 一、独立董事的基本情况 本人王京，男，1987 年出生，中国国籍，2009 年毕业于中国海洋大学财务 管理专业，后获同校企业管理硕士研究生学位、会计学博士研究生学位、应用经 济学博士后，本人系会计专业人士、财务管理副教授。曾任潍坊泰玛工贸有限公 司财务负责人、中国海洋大学讲师。现任山东同大海岛新 ...

青岛蔚蓝生物股份有限公司 2024 年度独立董事述职报告 （林英庭） 本人作为青岛蔚蓝生物股份有限公司（以下简称"公司"）独立董事， 2024 年，严格按照《公司法》《证券法》《上市公司独立董事管理办法》《上海 证券交易所上市公司自律监管指引第 1 号——规范运作》《公司章程》及公司 《独立董事制度》等规章制度的规定和要求，本着客观、公正、独立的原则， 勤勉尽责，独立履行职责，及时了解公司的生产经营及发展情况，准时出席各 种股东大会和董事会会议，积极发挥独立董事作用，有效维护了公司整体利益 和全体股东的合法权益。现将 2024 年度履行职责情况汇报如下： 2024 年 12 月 20 日，在召开的公司第五届董事会独立董事专门会议第二次 会议上，审议并通过了预计公司 2025 年度日常关联交易的事项。 一、独立董事的基本情况 本人林英庭，男，1962 年出生，中国国籍，1983 年毕业于山东农学院畜牧 专业，大学本科学历，三级教授职称，青岛农业大学退休教师。现为山东省饲 料行业协会监事长、山东省畜牧兽医学会饲料科技专业委员会副主任、青岛蔚 蓝生物股份有限公司独立董事。 作为公司的独立董事，本人及直系亲属、主要社 ...

证券代码：603739 证券简称：蔚蓝生物 公告编号：2025-016 青岛蔚蓝生物股份有限公司 关于会计政策变更的公告 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。 重要内容提示： 本次会计政策变更系青岛蔚蓝生物股份有限公司（以下简称"公司"） 根据财政部修订的相关会计准则和发布的暂行规定作出的调整，本次会计政策变 更不涉及对以前年度进行追溯调整，不会对公司财务状况、经营成果和现金流量 产生重大影响。 一、会计政策变更概述 （一）变更的原因和日期 本次会计政策变更是公司根据财政部发布的相关文件要求进行的变更，变更 后的会计政策能够客观、公允地反映公司的财务状况和经营成果，符合相关法律 法规规定和公司实际情况。本次会计政策变更不涉及对公司以前年度的追溯调整， 不会对公司财务状况、经营成果和现金流量产生重大影响，不存在损害公司及全 体股东利益的情形。 三、关于会计政策变更的专项意见 2、财政部于 2024 年 12 月 31 日发布了《企业会计准则解释第 18 号》（财会 〔2024〕24 号），该解释规定了公司在首次执行该解 ...

证券代码：603739 证券简称：蔚蓝生物 公告编号：2025-012 青岛蔚蓝生物股份有限公司 关于续聘公司 2025 年度审计机构的公告 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： 拟续聘的会计师事务所名称：致同会计师事务所（特殊普通合伙）（以下 简称"致同所"） 青岛蔚蓝生物股份有限公司（以下简称"公司"）于 2025 年 4 月 25 日召 开第五届董事会第十六次会议和第五届监事会第十次会议审议通过了《关于续 聘公司 2025 年度审计机构的议案》，此议案尚需提交公司 2024 年年度股东会审 议。现将具体情况公告如下： 一、拟续聘审计机构的基本情况 （一）机构信息 1、基本信息 名称：致同会计师事务所（特殊普通合伙） 统一社会信用代码：91110105592343655N 类型：特殊普通合伙企业 主要经营场所：北京市朝阳区建国门外大街 22 号赛特广场五层 首席合伙人：李惠琦 经营范围：审计企业会计报表，出具审计报告；验证企业资本，出具验资 报告；办理企业合并、分立、清算事宜中的审计业务，出具有关 ...