Company Overview - Shandong Buchang Pharmaceutical Co., Ltd. is located in Mudan District, Heze City, Shandong Province, established on May 10, 2001, and listed on November 18, 2016. The company specializes in the research, production, and sales of traditional Chinese medicine [1][2]. Stock Performance - As of August 22, Buchang Pharmaceutical's stock price decreased by 2.03%, trading at 18.78 CNY per share, with a total market capitalization of 19.805 billion CNY. The stock has increased by 18.86% year-to-date, with a 1.95% rise over the last five trading days, 4.04% over the last twenty days, and 13.68% over the last sixty days [1]. Financial Performance - For the period from January to March 2025, Buchang Pharmaceutical reported a revenue of 2.785 billion CNY, reflecting a year-on-year growth of 5.47%. The company has cumulatively distributed 7.537 billion CNY in dividends since its A-share listing, with 1.197 billion CNY distributed over the last three years [2]. Shareholder Information - As of March 31, 2025, the number of shareholders for Buchang Pharmaceutical was 59,500, a decrease of 0.44% from the previous period. The average number of circulating shares per shareholder increased by 0.44% to 18,587 shares [2]. Institutional Holdings - Among the top ten circulating shareholders as of March 31, 2025, Hong Kong Central Clearing Limited ranked as the ninth largest shareholder, holding 7.8596 million shares, a decrease of 576,000 shares from the previous period [2].

（文章来源：证券日报） 证券日报网讯 8月21日晚间，步长制药发布公告称，截至目前，公司无逾期对外担保。 ...

Group 1 - The company, Buchang Pharma, announced that as of the disclosure date, the total guarantees provided by the company and its subsidiaries amount to approximately RMB 2.44 billion, which represents 23.89% of the audited net assets as of the end of 2024 [2] - For the fiscal year 2024, the revenue composition of Buchang Pharma is as follows: 99.71% from the pharmaceutical industry and 0.29% from other businesses [2]

证券代码：603858 证券简称：步长制药 公告编号：2025-154 山东步长制药股份有限公司 关于为公司全资子公司提供担保的公告 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： 担保对象及基本情况 | | 被担保人名称 本次担保金额 | 3,000 | 杨凌步长制药有限公司 万元 | | | --- | --- | --- | --- | --- | | 担保 | | | | | | 对象 | 实际为其提供的担保余额 | 994 | 万元 | | | | 是否在前期预计额度内 | 是 | □否 | □不适用：_________ | | | 本次担保是否有反担保 | 是 | ☑否 | □不适用：_________ | | 对外担保逾期的累计金额（万元） | 0 | | --- | --- | | 截至本公告日上市公司及其控股 子公司对外担保总额（万元） | 244,030.79 | | 对外担保总额占上市公司最近一 期经审计净资产的比例（%） | 23.89 | | 特别风险提示（如有请勾选） | □对外 ...

Group 1 - The company has signed a technology transfer contract with Shandong University of Traditional Chinese Medicine Affiliated Hospital for the development of a new traditional Chinese medicine product [2][3] - The total technology transfer fee is set at 15 million yuan, which will be paid in installments as per the contract [6] - The contract includes provisions for intellectual property rights, ensuring that the technology and any resulting innovations will belong to the company, while the hospital retains certain academic rights [7][8] Group 2 - The technology being transferred involves the "Er Zhi Tiao Jing Optimization Formula," aimed at developing a new drug for treating conditions related to kidney deficiency [2][3] - The company is responsible for conducting all necessary research and regulatory submissions to achieve national drug registration for the new product [5] - The contract stipulates confidentiality obligations that extend for 20 years post-termination, ensuring that sensitive information remains protected [11][12] Group 3 - The contract outlines specific conditions under which either party can terminate the agreement, including failure to meet research milestones or submission deadlines [13][14] - Dispute resolution will be handled through negotiation, and if unresolved, will be taken to the competent court [17] - The contract is valid for 20 years and requires mutual consent for any amendments [20]

证券代码：603858 证券简称：步长制药 公告编号：2025-153 山东步长制药股份有限公司 关于控股子公司山东丹红拟与山东中医药大学附属 医院签署《技术转让（开发）合同》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。 一、交易概述 山东步长制药股份有限公司（以下简称"公司"）于 2025 年 8 月 15 日召开 第五届董事会第二十九次会议，审议通过了《关于山东丹红制药有限公司拟与 山东中医药大学附属医院就二至调经优化方签署<技术转让（开发）合同>的议 案》，为丰富公司产品研发管线，公司控股子公司山东丹红制药有限公司（以下 简称"山东丹红"）拟与山东中医药大学附属医院就二至调经优化方阶段性成果 转让及其新药开发事宜签署《技术转让（开发）合同》。具体内容详见公司 2025 年 8 月 16 日披露于上海证券交易所网站（www.sse.com.cn）的《关于控 股子公司山东丹红拟与山东中医药大学附属医院签署<技术转让（开发）合同> 的公告》（公告编号：2025-148） 二、本次进展情况 2025 年 8 月 2 ...

Core Viewpoint - The project "Construction and Application of Integrated Strategy for Discovery, Enrichment, and Quality Control of Active Ingredients in Traditional Chinese Medicine" by the subsidiary of Buchang Pharmaceutical and Shaanxi International Business College has won the Third Prize of the Shaanxi Provincial Science and Technology Progress Award for 2024, highlighting the collaboration between industry and academia in technological and industrial innovation [1] Group 1 - The project focuses on the core concept of "the relationship between biological effects and chemical substances" [1] - It has established a comprehensive technical system for the discovery, enrichment, and quality control of active ingredients in traditional Chinese medicine [1] - The system is applied across the entire industry chain of traditional Chinese medicine, including new product development, processing, enrichment of active ingredients, production of traditional Chinese medicine, and quality control [1] Group 2 - The collaboration reflects a deep integration of technological innovation and industrial innovation [1] - The project contributes modern technological strength to the high-quality development of traditional Chinese medicine [1]

金融界消息 截至2025年8月19日收盘，步长制药（603858）报收于18.78元，上涨0.97%，换手率 0.98%，成交量10.39万手，成交金额1.96亿元。 资金流向方面，今日主力资金净流入1139.87万元，占比成交额5.82%。其中，超大单净流入752.53万 元、占成交额3.84%，大单净流入387.34万元、占成交额1.98%，中单净流出流出580.87万元、占成交额 2.97%，小单净流出559.00万元、占成交额2.85%。 步长制药最新一期业绩显示，截至2025一季报，公司营业总收入27.85亿元、同比增长5.47%，归属净利 润3.07亿元，同比增长169.49%，扣非净利润3.00亿元，同比增长197.05%，流动比率1.138、速动比率 0.518、资产负债率49.33%。 天眼查商业履历信息显示，山东步长制药股份有限公司，成立于2001年，位于菏泽市，是一家以从事医 药制造业为主的企业。企业注册资本110604.2645万人民币，实缴资本110604.2645万人民币。公司法定 代表人为赵涛。 通过天眼查大数据分析，山东步长制药股份有限公司共对外投资了69家企业，参与招投标项目 ...

Group 1 - The project led by Zhao Chao, President of the company, won the First Prize for Scientific and Technological Progress in Shaanxi Province for its innovative integration of key technologies for quality assurance and low-carbon production in traditional Chinese medicine [1][2] - The project addresses quality assurance technologies for the front end of the industry chain and membrane separation materials and technologies for the back end, proposing innovative quality identification standards and a series of "membrane separation + low-carbon production" integrated processes [1] - The project established a "5 networks + 2 collections + 1 model" quality assurance technology for traditional Chinese medicine, introducing a quality identification standard based on "habitat-source-product-efficacy" [1] Group 2 - The recognition from the Shaanxi Provincial Science and Technology Award reflects the company's long-term commitment to technological innovation and its pursuit of high-quality traditional Chinese medicine products [2] - The project results contribute positively to the technological enhancement of the company's listed products, the establishment of industry-university-research cooperation platforms, and the expansion of product influence and recognition [2] - The company aims to enhance its scientific, corporate, and product brands, laying a solid scientific foundation for its long-term development [2]

Market Overview - On August 19, the innovative drug sector experienced a significant surge, with multiple companies including Shenyuan Biological and Xintian Pharmaceutical hitting the daily limit increase [1] Key Events - On August 19, Rongchang Biopharmaceutical announced a licensing agreement for its RC28-E injection with Santen China, receiving an upfront payment of 250 million RMB and potential milestone payments totaling up to 12.45 billion RMB [4] - On August 7, Buchang Pharmaceutical's subsidiary signed an exclusive supply agreement with GOODFELLOW for the registration and sales of Efparepoetinalfa in the Philippines [4] - On July 28, Hengrui Medicine announced a deal with GSK for global exclusive rights to the HRS-9821 project, with an upfront payment of 500 million USD and potential total payments of approximately 12 billion USD [4] - Prior to these announcements, companies like CSPC Pharmaceutical, 3SBio, and China National Pharmaceutical Group also secured significant overseas contracts [5] Institutional Insights - According to data from Toubao, the U.S. pharmaceutical market was valued at 600.3 billion USD in 2022, with innovative drugs accounting for over 70%, approximately 420 billion USD. In contrast, China's pharmaceutical market was valued at 250.8 billion USD, with innovative drugs making up less than 20%, around 50 billion USD [6] - The trend of Chinese pharmaceutical companies collaborating with international giants is increasing, with record-high upfront payments and total transaction amounts. The potential market for domestic innovative drugs could rise from 50 billion USD domestically to over 420 billion USD in the U.S. market alone [6] - Recent catalysts in the innovative drug sector are emerging, with upcoming industry conferences expected to showcase promising data from companies like Diligent Pharma and Fuhong Hanlin [6] - The domestic innovative drug industry is transitioning from a capital-driven model to a profit-driven model, with expectations for performance and valuation recovery opportunities in the sector by 2025 [7]