Core Viewpoint - The company, Blue Horizon Biological, announced the approval of its subsidiary Qingdao Kangdian Animal Pharmaceutical Co., Ltd. for two new veterinary drugs, "Fluralaner Drops (for dogs)" and "Fluralaner Drops (for cats)", classified as Class II new veterinary drugs by the Ministry of Agriculture and Rural Affairs [2]. Summary by Categories - **Company Announcement** - Blue Horizon Biological has received approval for its subsidiary's new veterinary drugs [2]. - The Ministry of Agriculture and Rural Affairs issued the New Veterinary Drug Registration Certificate (Announcement No. 949) for these products [2]. - **Product Details** - The approved products include "Fluralaner Drops (for dogs)" and "Fluralaner Drops (for cats)" [2].

Group 1 - The company, Weilan Bio, announced that as of the date of the announcement, there are no overdue guarantee matters [2]

Core Viewpoint - The company has received approval from the Ministry of Agriculture and Rural Affairs for its subsidiary to register two new veterinary drugs for dogs and cats, indicating a significant advancement in its product offerings [1] Group 1 - The company, Blue Biological (603739), announced that its wholly-owned subsidiary, Qingdao Kangdian Animal Pharmaceutical Co., Ltd., has successfully applied for the registration of "Fluralaner Drops (for Dogs)" and "Fluralaner Drops (for Cats)" as Class II new veterinary drugs [1] - The Ministry of Agriculture and Rural Affairs has issued the "New Veterinary Drug Registration Certificate" for these products, which marks a key milestone in the company's development strategy [1]

证券代码：603739 证券简称：蔚蓝生物 公告编号：2025-040 青岛蔚蓝生物股份有限公司 关于为全资子公司提供担保的进展公告 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： 被担保人名称：青岛蔚蓝生物集团有限公司（以下简称"蔚蓝生物集团"）、 青岛蔚蓝动物保健集团有限公司（以下简称"蔚蓝动保"） 本次担保金额及已实际为其提供的担保余额： 本次担保是否有反担保：无 对外担保逾期的累计数量：无 一、 担保情况概述 （一）担保基本情况 上述担保事项已经公司 2025 年 4 月 25 日召开的第五届董事会第十六次会议 审议通过，并经公司于 2025 年 5 月 16 日召开的 2024 年年度股东会批准。具体 内容详见公司分别于 2025 年 4 月 26 日、2025 年 5 月 17 日在上海证券交易所网 站披露的《青岛蔚蓝生物股份有限公司关于 2025 年度对外担保额度预计的公告》 （公告编号：2025-011）、《青岛蔚蓝生物股份有限公司 2024 年年度股东会决议 公告》（公告编号：2025-022 ...

证券代码：603739 证券简称：蔚蓝生物 公告编号：2025-041 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"）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"氟雷拉纳滴剂（犬用）"和"氟雷 拉纳滴剂（猫用）"为二类新兽药，并于近日核发了《新兽药注册证书》（农业农 村部公告第 949 号）。 一、新兽药的基本信息 1、氟雷拉纳滴剂（犬用） 新兽药名称：氟雷拉纳滴剂（犬用） 研制单位：宁波春雷生物科技有限公司、宁波科瑞特动物药业有限公司、河 北圣雪大成唐山制药有限公司、青岛康地恩动物药业有限公司、四川恒通动保生 物科技有限公司、南京乐宠乐家生物制药有限公司。 新兽药注册证书号：（2025）新兽药证字 96 号 监测期：4 年 注册分类：二类 主要成分：氟雷拉纳 作用与用途：用于治疗犬体表的跳蚤（猫栉首蚤）感染和蜱虫（长角血蜱和 血红扇头蜱） ...

Core Viewpoint - The company, Weilan Bio (603739.SH), clarified that it does not have any vaccine products for H5N1 or other highly pathogenic avian influenza subtypes [1] Group 1: Company Products - The company's veterinary biological products mainly include various vaccines and antibodies aimed at preventing and controlling infections of poultry and livestock against epidemic diseases [1] - The products specifically targeting avian influenza include H9 subtype inactivated vaccines, which are available in two, three, and four-component formulations [1]

Group 1: Research Basic Information - The research object is Weilan Biology, belonging to the animal husbandry, feed and fishery industry, and the reception time was on September 4, 2025. The listed company's reception staff included the chairman and general manager Chen Gang, the director and financial controller Qiao Piyuan, the board secretary Jiang Yong, and independent directors Lin Yingtin and Wang Jing [17] Group 2: Detailed Research Institutions - The reception objects include investors' online questions and others [20] Group 3: Main Content - In the field of biocatalytic enzymes, the company continuously promotes technological innovation, provides comprehensive technical support for the brewing industry, enhances product quality and flavor, optimizes production, and promotes the high - value utilization of brewing by - products to support the industry's sustainable development [24] - The Weilan Biotechnology Center, the plant probiotic preparation project, and the animal health industry park of the company have been put into production and operation. The construction project of the refined enzyme series product production line of Weifang Kangdien also reached the预定可使用状态 in August 2025, completing the systematic production capacity layout of each business segment [25] - The company builds an "industry + service" comprehensive empowerment platform around the animal health strategy, providing systematic solutions covering animal nutrition, healthy breeding, and animal disease prevention and control. It has established a health - breeding process service platform, a raw material value evaluation and quality control service system, and a VLAND - PCP product precise customization platform, which has formed an enzyme - using database covering more than a hundred feed raw materials and has been highly recognized by many core customers [27] - The company adheres to the "talent first" development strategy, has a standardized management system in employee recruitment, training, incentives, and promotion, and has a stable and professional talent team with 36 doctors and 259 full - time R & D personnel. It also has good cooperation with universities, research institutes, and other enterprises [28] - In the first half of 2025, the company's R & D investment was 63.8829 million yuan, accounting for 9.80% of the operating income, with a year - on - year increase of 16.04%, maintaining a relatively high level in the industry [29]

Investment Rating - The report maintains a "Recommended" rating for the company [3][5]. Core Viewpoints - The company achieved a revenue of 652 million yuan in the first half of 2025, representing a year-on-year growth of 7.05%. However, the net profit attributable to the parent company decreased by 8.98% to 27 million yuan [1]. - The company has focused on innovation and increased its R&D investment to 64 million yuan, accounting for 9.80% of revenue, which is a 16.04% increase year-on-year [2]. - The company has completed its capacity layout, with various projects now in operation, enhancing its competitive edge and collaborative development across multiple business lines [3]. - The enzyme and probiotic industries have high barriers to entry, and the company is well-positioned as a representative player in these fields, with significant technological and platform advantages [3]. Financial Summary - The company expects net profits attributable to the parent company to be 74 million yuan, 81 million yuan, and 90 million yuan for the years 2025, 2026, and 2027, respectively [3]. - Earnings per share (EPS) are projected to be 0.29 yuan, 0.32 yuan, and 0.35 yuan for the same years, with corresponding price-to-earnings (PE) ratios of 50X, 46X, and 42X [3]. - Revenue is forecasted to grow from 1,431 million yuan in 2025 to 1,705 million yuan in 2027, with growth rates of 8.4%, 8.9%, and 9.4% respectively [9].

Core Viewpoint - The recent financial report of Weilan Bio (603739) shows mixed results, with revenue growth but a decline in net profit, raising concerns about cash flow and accounts receivable management [1][3]. Financial Performance - Total revenue for the first half of 2025 reached 652 million yuan, a year-on-year increase of 7.05% [1]. - Net profit attributable to shareholders was 26.72 million yuan, down 8.98% year-on-year [1]. - In Q2 2025, revenue was 342 million yuan, up 6.06% year-on-year, while net profit for the quarter was 17.14 million yuan, an increase of 3.07% [1]. Profitability Metrics - Gross margin stood at 45.07%, reflecting a slight increase of 0.67% year-on-year [1]. - Net margin decreased to 6.1%, down 12.12% year-on-year [1]. - Earnings per share (EPS) was 0.11 yuan, a decline of 8.33% compared to the previous year [1]. Cash Flow and Debt Management - Operating cash flow per share dropped significantly to 0.04 yuan, a decrease of 80.6% year-on-year [1]. - The ratio of cash and cash equivalents to current liabilities was only 43.42%, indicating potential liquidity issues [3]. - Interest-bearing debt decreased to 638 million yuan, down 20.27% year-on-year [1]. Accounts Receivable Concerns - Accounts receivable increased to 379 million yuan, a rise of 15.63% year-on-year, with accounts receivable to net profit ratio reaching 604.74% [1][3]. - The company’s historical return on invested capital (ROIC) was 4.45%, indicating weak capital returns [3].

Fundraising Overview - The company raised a total of RMB 394,016,730.00 from its initial public offering (IPO) by issuing 38,667,000 shares at RMB 10.19 per share, with a net amount of RMB 347,440,291.00 after deducting issuance costs [1][2] - For the non-public offering, the company raised RMB 499,999,984.00 at a price of RMB 19.69 per share, resulting in a net amount of RMB 495,954,700.96 after deducting issuance costs [2][3] Fund Management - The company has established a fundraising management method to ensure the proper management and use of raised funds, in compliance with relevant laws and regulations [3][4] - The company has signed tripartite supervision agreements with banks to manage the special accounts for the raised funds [5][8] Fund Usage - As of June 30, 2025, the company has used RMB 346,338,200.00 from the IPO funds and RMB 498,098,300.00 from the non-public offering funds [10][12] - The company has not used any idle funds for temporary working capital or for cash management during the reporting period [11][13] Project Changes - The company has made changes to its fundraising projects, including reallocating unused funds from the "Annual Production of 10,000 Tons of Plant Microecological Preparations" project to new projects [14][15][16] - The company has also approved the completion of certain projects and the permanent allocation of surplus funds to working capital [12][13] Disclosure Compliance - The company has complied with the disclosure requirements set by the China Securities Regulatory Commission, ensuring timely and accurate reporting of the fundraising and usage status [17]