| 证券代码：605077 | 证券简称：华康股份 | 公告编号：2025-028 | | --- | --- | --- | | 债券代码：111018 | 债券简称：华康转债 | | 关于股东大会开设网络投票提示服务的公告 特此公告。 浙江华康药业股份有限公司 董事会 2025 年 3 月 14 日 浙江华康药业股份有限公司 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个别及连带责任。 浙江华康药业股份有限公司（以下简称"公司"）于 2025 年 2 月 28 日披露关 于召开 2024 年年度股东大会的通知，公司拟于 2025 年 3 月 21 日 13 点 30 分召 开 2024 年年度股东大会，本次会议采用现场投票和网络投票相结合的表决方式。 详见公司披露于上海证券交易所的公告《华康股份关于召开 2024 年年度股东大 会的通知》。 为更好的服务广大中小投资者，确保有投票意愿的中小投资者能够及时参会、 及时投票。公司拟使用上证所信息网络有限公司（以下简称"上证信息"）提供 的股东大会提醒服务，委托上证信息通过智能短信等形式 ...

| 证券代码：605077 | 证券简称：华康股份 | 公告编号：2025-027 | | --- | --- | --- | | 债券代码：111018 | 债券简称：华康转债 | | 浙江华康药业股份有限公司 关于召开 2024 年度业绩说明会的公告 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个别及连带责任。 重要内容提示： 会议召开时间：2025 年 3 月 20 日（星期四）上午 11:00-12:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 " 路 演 中 心 "（ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 公开征集问题：投资者可于 2025 年 3 月 19 日（星期三）16:00 前登录上 证 路 演 中 心 网 站 首 页 点 击 " 提 问 预 征 集 " 栏 目 或 通 过 公 司 邮 箱 （zqb@huakangpharma.com）进行提问。公司将在说明会上对投资者普遍关注的问 题进行回答。 三、 参加人员 本公司董事 ...

Investment Rating - The report assigns a "Buy" rating for the company, indicating a positive outlook for the stock over the next six months [5]. Core Views - The company has shown steady growth in sales despite short-term profit pressure, with a revenue increase of 0.93% year-on-year to 2.808 billion yuan in 2024, while net profit decreased by 27.72% to 268 million yuan [2][3]. - The company is actively expanding its production capacity with the ongoing construction of a 1 million-ton corn deep processing project, which is expected to enhance its long-term growth potential [4]. - A planned acquisition of Henan Yuxin Sorbitol Co., a leading player in the functional sugar alcohol industry, is anticipated to reshape the market landscape and improve the company's competitive position [4]. Financial Summary - In 2024, the company achieved a revenue of 2.808 billion yuan, with a slight increase of 0.93% compared to the previous year. The net profit attributable to the parent company was 268 million yuan, reflecting a significant decline of 27.72% [2][6]. - The company forecasts net profits of 380 million yuan, 473 million yuan, and 573 million yuan for 2025, 2026, and 2027, respectively, indicating a recovery trend with corresponding EPS of 1.24, 1.55, and 1.87 yuan [5][6]. - The projected PE ratios for 2025, 2026, and 2027 are 12.09, 9.71, and 8.01 times, respectively, suggesting an attractive valuation as the company’s growth potential is gradually realized [5][6].

浙江华康药业股份有限公司 2024 年年度股东大会 会议材料 二○二五年三月 2024 年年度股东大会 浙江华康药业股份有限公司 2024 年年度股东大会会议须知 为维护广大投资者的合法权益，保障股东在本次股东大会期间依法行使权 利，根据《公司法》、中国证监会《上市公司股东大会规则》和公司《股东大会 议事规则》等有关规定，特制定本会议须知： 一、公司负责本次股东大会的议程安排和会务工作，出席会议人员应当听从 公司工作人员安排，共同维护好会议秩序。 二、为保证股东大会的正常秩序，除出席会议的股东或者股东代理人、董事、 监事、高级管理人员、见证律师及董事会邀请的人员外，公司有权依法拒绝其他 人员进入会场。 三、出席会议的股东须在会议召开前 15 分钟到达会议现场向公司会务人员 办理签到手续，并请按规定出示股票账户卡、持股凭证、身份证或法人单位证明、 授权委托书及出席人身份证等，经验证后领取会议资料，方可出席会议。 四、股东需要在股东大会发言的，应于会议开始前 10 分钟向公司会务人员 进行登记，出示有效的持股证明，填写《发言登记表》；全部股东发言时间控制 在 30 分钟以内，登记后的发言顺序按其所持表决权的大小依 ...

Investment Rating - The investment rating for the company is "Outperform" (maintained) [2] Core Insights - The company reported significant quarter-over-quarter improvement in Q4 performance, with the Zhoushan base gradually contributing to incremental production [1][9] - The company plans to acquire Henan Yuxin Sorbitol, initiating industry consolidation and enhancing its core product market share [9] - The financial forecast indicates a projected revenue increase from 27.83 billion yuan in 2023 to 53.01 billion yuan in 2027, with a notable growth rate of 36% in 2025 [8][10] Financial Data and Profit Forecast - Total revenue for 2023 is projected at 27.83 billion yuan, with a year-on-year growth rate of 26.5% [8] - The net profit attributable to the parent company is expected to be 3.71 billion yuan in 2023, with a projected increase to 6.17 billion yuan by 2027 [8][10] - The gross profit margin for 2024 is estimated at 21.77%, with a net profit margin of 9.57% [9] - The company plans to distribute a cash dividend of 5 yuan per 10 shares, amounting to approximately 152 million yuan, which represents 56.44% of the 2024 net profit [9] Production and Capacity Expansion - The company has seen a 13% year-on-year increase in the sales volume of crystalline sorbitol products, contributing to revenue growth [9] - The Zhoushan base's new production capacity is expected to be operational in 2025, which will support future growth [9] - The company is actively preparing for the release and absorption of new production capacity through recruitment and training [9] Acquisition and Market Position - The acquisition of Henan Yuxin Sorbitol is expected to strengthen the company's market position in the sorbitol industry, particularly in crystalline sorbitol [9] - The company holds a significant market share in the global sorbitol market, with a 25.5% share, ranking second globally [9]

Investment Rating - The investment rating for Huakang Co., Ltd. is "Outperform the Market" [6][28]. Core Views - The company's performance in 2024 saw a year-on-year decline of 27.72% in net profit, attributed mainly to increased management and sales expenses. However, revenue slightly increased by 0.93% to 2.808 billion yuan [1][11]. - The new production capacity in Zhoushan is expected to drive the company's performance upward, with the first phase of the 1 million-ton corn deep processing project already in operation [2]. - The planned acquisition of Yuxin Sugar Alcohol aims to consolidate Huakang's leading position in the xylitol market, increasing its domestic production capacity share to 49.6% [3][21]. Summary by Sections Financial Performance - In 2024, Huakang achieved a revenue of 2.808 billion yuan, with a net profit of 268 million yuan, reflecting a decline of 27.72% year-on-year. The net profit excluding non-recurring items was 259 million yuan, down 27.46% [1][11]. - The company's net assets increased by 4.98% to 3.243 billion yuan, while total assets grew by 13.18% to 6.992 billion yuan [1][11]. Future Projections - The revenue forecasts for 2025, 2026, and 2027 are 3.672 billion yuan, 4.356 billion yuan, and 5.009 billion yuan, respectively, indicating growth rates of 30.7%, 18.6%, and 15.0% [4][28]. - The projected net profits for the same years are 400 million yuan, 504 million yuan, and 592 million yuan, with corresponding EPS of 1.31 yuan, 1.65 yuan, and 1.94 yuan [4][28]. Market Position and Strategy - Huakang is positioned as a leading enterprise in the functional sugar alcohol industry, leveraging new production capacities and acquisitions to enhance its product structure and industry chain development [4][28]. - The acquisition of Yuxin Sugar Alcohol is expected to enhance synergies in procurement, production, sales, and R&D, thereby improving overall market competitiveness [3][27].

Investment Rating - The investment rating for Huakang Co., Ltd. is "Outperform the Market" [6][28]. Core Views - The company's performance in 2024 saw a year-on-year decline of 27.72% in net profit, attributed mainly to increased management and sales expenses [1][11]. - The new production capacity in Zhoushan is expected to drive the company's performance upward as it gradually comes online [2][28]. - The acquisition of Yuxin Sugar Alcohol is aimed at consolidating Huakang's leading position in the xylitol industry, increasing its domestic market share to 49.6% [3][27]. Summary by Sections Financial Performance - In 2024, Huakang achieved operating revenue of 2.808 billion yuan, a slight increase of 0.93% year-on-year, while net profit attributable to shareholders was 268 million yuan, down 27.72% [1][11]. - The net assets attributable to shareholders increased by 4.98% to 3.243 billion yuan, and total assets grew by 13.18% to 6.992 billion yuan [1][11]. Production Capacity and Projects - The Zhoushan project, which includes a 1 million-ton corn deep processing health food ingredient project, is being developed in two phases, with the first phase already producing certain products [2][28]. - Additional production lines are expected to come online in 2025, which will further enhance the company's revenue potential [2][28]. Acquisition Strategy - The planned acquisition of Yuxin Sugar Alcohol will enhance Huakang's competitive edge in the xylitol market, leveraging synergies in procurement, production, and sales [3][27]. - The acquisition is expected to enrich the product portfolio and improve operational efficiencies across various functions [27][28]. Earnings Forecast - The earnings forecast for 2025-2027 has been cautiously adjusted, with projected revenues of 3.672 billion yuan, 4.356 billion yuan, and 5.009 billion yuan respectively [4][28]. - The expected net profits for the same period are 400 million yuan, 504 million yuan, and 592 million yuan, with corresponding EPS of 1.31 yuan, 1.65 yuan, and 1.94 yuan [4][28].

东方证券股份有限公司 关于浙江华康药业股份有限公司 2024 年度日常关联交易及 2025 年度日常关联交易预计的核查意见 东方证券股份有限公司（以下简称"东方证券"或"保荐机构"、 "保荐人"） 作为浙江华康药业股份有限公司（以下简称"华康股份"或"公司"）首次公开发行 股票并上市的持续督导机构及向不特定对象发行可转换公司债券的保荐人，根据 《证券发行上市保荐业务管理办法》《上市公司监管指引第 2 号——上市公司募 集资金管理和使用的监管要求》《上海证券交易所上市公司自律监管指引第 1 号 ——规范运作》等法律法规，对华康股份 2024 年度日常关联交易及 2025 年度日 常关联交易预计事项进行了核查，核查情况如下： 一、2024 年度日常关联交易执行情况及 2025 年度日常关联交易预计额度 （一）公司 2024 年度日常关联交易的预计和执行情况 | 关联方 | 关联交易内容 | 2024 年发生金额 | 2024 年预计金额 | | --- | --- | --- | --- | | 四川雅华生物有限公司及其关联 方 | 购买商品 | 131,213,567.24 | 200,000,000.00 | ...

| 证券代码：605077 | 证券简称：华康股份 公告编号：2025-017 | | --- | --- | | 债券代码：111018 | 债券简称：华康转债 | 关于回购注销部分限制性股票的公告 浙江华康药业股份有限公司 限制性股票回购数量：本次限制性股票激励计划限制性股票回购注销数 量为 282.10 万股，其中回购注销 2023 年限制性股票激励计划首次授予部分限制 性股票第二个解除限售期的 239.85 万股股份；回购注销 2023 年限制性股票激励 计划预留授予部分限制性股票第一个解除限售期的 42.25 万股股份。 公司于 2025 年 2 月 26 日召开第六届董事会第二十九次会议及第六届监事会 第十八次会议，审议通过了《关于回购注销部分限制性股票的议案》。根据天健 会计师事务所（特殊普通合伙）出具的《华康股份 2024 年度审计报告》（天健审 〔2025〕224）（以下简称《审计报告》），公司 2024 年度营业收入为 28.08 亿 元，未达到《浙江华康药业股份有限公司 2023 年限制性股票激励计划（草案）》 （以下简称《激励计划》）规定的 2024 年业绩考核目标，公司将按授予价格加 ...

!"#$%&'()*+,,,,,,,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,-#./0 国浩律师（杭州）事务所 关 于 浙江华康药业股份有限公司 2023 年限制性股票激励计划部分限制性股票 回购注销相关事项之法律意见书 致：浙江华康药业股份有限公司 国浩律师（杭州）事务所作为浙江华康药业股份有限公司（以下简称"华康 股份"）聘请的为其实施 2023 年限制性股票激励计划事项提供法律服务的律师， 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司股权激励管 理办法》等有关法律、法规及规范性文件的规定，按照律师行业公认的业务标准、 道德规范和勤勉尽责精神，遵照中国证券监督管理委员会的要求，就其 2023 年 限制性股票激励计划部分限制性股票回购注销相关事项出具本法律意见书。 !"#$ % & 本所是依法注册具有执业资格的律师事务所，有资格就中国法律、法规、规 范性文件的理解和适用出具法律意见。 本所及经办律师依据《中华人民共和国证券法》《律师事务所从事证券法律 业务管理办法》和《律师事务所证券法律业务执业规则（试行）》等规定及本法 律 ...