证券代码：605116 证券简称：奥锐特 公告编号：2026-010 债券代码：111021 债券简称：奥锐转债 奥锐特药业股份有限公司 关于可转债转股结果暨股份变动公告 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： 累计转股情况：截至 2026 年 3 月 31 日，累计已有面值 34,000 元"奥 锐转债"转为公司 A 股普通股，累计转股股数为 1,353 股，占"奥锐转债"转 股前公司已发行普通股股份总额的 0.0003%。 未转股可转债情况：截至 2026 年 3 月 31 日，尚未转股的"奥锐转债" 面值为人民币 812,086,000 元，占"奥锐转债"发行总量的比例为 99.9958%。 本季度转股情况："奥锐转债"自 2025 年 2 月 5 日起可转换为公司股票， 2026 年 1 月 1 日至 2026 年 3 月 31 日期间共有面值 25,000 元"奥锐转债"转 为公司 A 股普通股，转股后的股份数为 1,000 股。 一、可转债发行上市概况 （一）可转债发行情况 经中国证券监督管 ...

| 证券代码：605116 | 证券简称：奥锐特 | 公告编号：2026-009 | | --- | --- | --- | | 债券代码：111021 | 债券简称：奥锐转债 | | 奥锐特药业股份有限公司 董事减持股份结果公告 本公司董事会、全体董事及相关股东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。 董事持股的基本情况 奥锐特药业股份有限公司（以下简称"公司"）董事褚义舟先生于本次减持 计划实施前持有公司股份 112,294,800 股，占公司总股本的 27.65%，其所持有 股份来源于公司首次公开发行股票前取得的股份。 减持计划的实施结果情况 公司于 2026 年 1 月 31 日披露了《奥锐特药业股份有限公司关于部分董事减 持股份计划公告》（公告编号：2026-005），褚义舟先生因个人资金需求，拟通过 集中竞价方式减持公司股份数量不超过 400 万股，减持比例为不超过公司股份总 数的 0.98%，减持期间为减持股份计划公告发布之日起 15 个交易日后的 3 个月 内，若减持期间公司有派发红利、送红股、转增股本、增发新股或配股等股份变 ...

Investment Rating - The report maintains a "Positive" investment rating for the pharmaceutical and biotechnology industry [4]. Core Insights - The pharmaceutical and biotechnology sector is experiencing a significant data catalyst window with the upcoming AACR annual meeting, which is expected to enhance the global competitiveness of Chinese innovative drugs [5]. - The industry index declined by 1.26%, outperforming the CSI 300 index, with notable gains in medical research outsourcing and chemical preparations [2][13]. - The overall PE ratio for the pharmaceutical and biotechnology industry is 29.30x, down from 30.34x, indicating a valuation decline below the average [17]. Industry Review - The report highlights that the innovative drug sector is currently the core focus, supported by favorable domestic policies such as the NMPA's "Spring Rain Action" to promote clinical innovation in medical devices [4][5]. - The total amount of innovative drug licensing transactions in China exceeded $60 billion in the first three months of 2026, indicating a strong global recognition of Chinese innovative drug assets [5]. - The report suggests focusing on companies with core technology platforms and differentiated pipeline layouts, particularly those expected to achieve positive catalysts at major academic conferences like AACR [5]. Important Industry News - The NMPA has initiated a three-year "Spring Rain Action" to support the transformation of clinical innovation in medical devices [21][26]. - Johnson & Johnson's oral IL-23R antagonist "Icotrokinra" has been approved by the FDA, marking it as the first of its kind globally [41]. - Novo Nordisk's weekly insulin "Awiqli" has received FDA approval, providing a new treatment option for type 2 diabetes patients [44]. - AstraZeneca and Amgen's TSLP monoclonal antibody "Tezepelumab" has been approved in China, making it the first of its kind domestically [46]. Company Dynamics - Novartis plans to invest over 3.3 billion RMB in China to enhance its R&D, production, and operational capabilities [48].

Investment Rating - The report maintains an "Overweight" rating for the pharmaceutical and biotechnology sector [4]. Core Insights - The healthcare insurance fund is operating smoothly, with a total income of CNY 3.59 trillion and total expenditure of CNY 3 trillion in 2025, reflecting a stable operation of the fund [6][12]. - The report highlights the importance of focusing on sectors with individual stock alpha or defensive attributes amid increased market volatility due to external shocks [6][12]. - The report emphasizes the potential for price increases in the pharmaceutical sector, particularly in innovative drugs and high-end medical devices, supported by healthcare insurance policies [12]. - NVIDIA's GTC 2026 outlines a comprehensive strategy for integrating AI into the healthcare industry, indicating a significant transformation in the medical value chain [12][19]. Summary by Sections Industry Overview - The pharmaceutical and biotechnology sector has a total market capitalization of CNY 67,613.55 billion and a circulating market value of CNY 61,920.43 billion, with 504 listed companies [2]. Market Dynamics - The report notes that the Shanghai Composite Index fell by 2.19% and the pharmaceutical sector declined by 2.77%, ranking 8th among 31 sub-industries [6][19]. - The report identifies that the performance of individual stocks varies, with companies like Dong-E E-Jiao and China Resources Sanjiu showing positive profit growth [12]. Company Performance - Key recommended stocks include WuXi Biologics, Tigermed, and Sihuan Pharmaceutical, all rated as "Buy" [4]. - The report highlights the performance of specific companies, such as Sanofi and Jizhong Pharmaceutical, which have shown significant weekly gains [28]. Valuation Metrics - The pharmaceutical sector is currently valued at 21.9 times PE based on 2026 earnings forecasts, with a premium of 11% over the overall A-share market [21][22]. - The TTM valuation for the sector stands at 29.9 times PE, below the historical average of 34.8 times PE, indicating potential undervaluation [21][22].

证券代码：605116 证券简称：奥锐特 公告编号：2026-008 债券代码：111021 债券简称：奥锐转债 奥锐特药业股份有限公司 关于通过高新技术企业认定的公告 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。 本次高新技术企业的认定，系原证书有效期届满后所进行的重新认定。根据 《中华人民共和国企业所得税法》以及国家对高新技术企业的相关税收规定，公 司自获得高新技术企业认定后三年内继续享受国家高新技术企业所得税等优惠 政策，其中企业所得税按 15%的税率缴纳。2025 年公司已按照 15%的所得税税率 计缴所得税，上述事项不会对公司当期经营业绩产生重大影响。 特此公告。 奥锐特药业股份有限公司董事会 奥锐特药业股份有限公司（以下简称"公司"）于近日收到浙江省经济和信 息化厅、浙江省财政厅和国家税务总局浙江省税务局联合颁发的《高新技术企业 证书》（证书编号：GR202533007043），发证时间为 2025 年 12 月 19 日，有效 期三年。 2026 年 3 月 21 日 ...

Investment Rating - The report maintains a "Positive" investment rating for the pharmaceutical and biotechnology industry [1] Core Insights - The animal health raw material drug prices are expected to experience a cyclical rebound in 2026 due to a recovery in industry demand and stabilization of antibiotic supply chain prices [1] - The heparin raw material drug industry is currently at a cyclical low, with prices declining sharply in 2023, but expected to stabilize by 2025 [2][56] - The vitamin industry is entering a price increase cycle influenced by geopolitical tensions and rising oil prices, leading to significant price increases for vitamin A and E [3][58] Summary by Sections Raw Material Prices and Trends - The PPI index for China's chemical raw materials has been on a downward trend, while upstream raw material prices are showing an upward trend, which may accelerate the supply clearance in the raw material drug industry [11][18] - Antibiotic prices, including 6-APA and penicillin industrial salt, are showing signs of recovery after hitting bottom [25][29] - The average price of florfenicol has dropped from 400-700 RMB/kg to 150-200 RMB/kg, indicating a significant decline due to oversupply and weak downstream demand [46][49] Investment Recommendations - The report suggests focusing on companies that have undergone thorough supply clearance and have expectations for price increases, recommending stocks such as Guobang Pharmaceutical, Puluo Pharmaceutical, and Aorite [4][72] - Beneficiary stocks include Meinuo Pharmaceutical, Chuaning Biological, and Zhejiang Pharmaceutical, among others [4][72] Price Trends in Specific Segments - Heparin API prices are expected to stabilize in 2025 after a period of decline due to oversupply [56][57] - Iodine raw material prices have seen a recovery due to strong demand from other industries, following a period of significant price increases [2][56] - The vitamin A and E prices are experiencing rapid increases due to geopolitical tensions affecting oil prices and supply chain disruptions [3][58]

证券代码：605116 证券简称：奥锐特 公告编号：2026-007 债券代码：111021 债券简称：奥锐转债 奥锐特药业股份有限公司 关于持股 5%以上股东权益变动触及 1%刻度的提示性 公告 股东褚义舟先生及其一致行动人保证向本公司提供的信息真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息一致。 一、 信息披露义务人及其一致行动人的基本信息 1.身份类别 | | □控股股东/实际控制人及其一致行动人 | | --- | --- | | | √其他 5%以上大股东及其一致行动人 | | 投资者及其一致行动人的身份 | □合并口径第一大股东及其一致行动人（仅适用 | | | 于无控股股东、实际控制人） | | | □其他______________（请注明） | 二、 权益变动触及 1%刻度的基本情况 信息披露义务人褚义舟先生于 2026 年 3 月 3 日至 2026 年 3 月 16 日期间， 通过集中竞价交易方式累计减持公司股份 2,910,100 股，占公司总股本的 0.72%。 本次减持后，褚义舟先生及其一致行动人合计持有公司股 ...

证券代码：605116 证券简称：奥锐特 公告编号：2026-006 债券代码：111021 债券简称：奥锐转债 奥锐特药业股份有限公司 关于公司获得药品注册批件的公告 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。 近日，奥锐特药业股份有限公司（以下简称"奥锐特"或"公司"）收到国 家药品监督管理局（以下简称"国家药监局"）核准签发的两份恩扎卢胺片（以 下简称"该药品"）《药品注册证书》，现将相关情况公告如下： 一、注册证书基本信息 药品名称：恩扎卢胺片 批件号：【2026S00665】、【2026S00666】 药品批准文号：国药准字H20263552、国药准字H20263553 审评结论：根据《中华人民共和国药品管理法》及有关规定，经审查，本品 符合药品注册的有关要求，批准注册，发给药品注册证书。本品适用于"转移性 激素敏感性前列腺癌（mHSPC）成年患者；有高危转移风险的非转移性去势抵 抗性前列腺癌（NM-CRPC）成年患者；雄激素剥夺治疗（ADT）失败后无症状 或有轻微症状且未接受化疗的转移性去势抵抗性前列腺癌（CR ...

Investment Rating - The report maintains a "Recommended" rating for the pharmaceutical industry as of March 16, 2026 [1] Core Insights - The report emphasizes the importance of products with price leadership amid rising costs in the supply chain due to geopolitical tensions and policy changes affecting raw material prices [2] - The report highlights the significant price increases in pharmaceutical raw materials, particularly vitamins and amino acids, which have seen price increases of 40.54% and 84.66% respectively since the beginning of the year [2] - The report notes the approval of China's first invasive brain-machine interface, marking a significant milestone in the medical device sector [5] - The report indicates a strong trend in China's innovative pharmaceuticals going global, with a notable increase in licensing-out transactions [6] Summary by Sections 1. Supply Chain Dynamics - The report discusses the impact of rising prices in upstream chemical products on pharmaceutical raw materials, stressing that the ability to pass on these costs is crucial for maintaining profitability [2] - It mentions that 90% of monitored products have seen price increases, with the chemical product price index rising by 28.52% since the beginning of the year [2] 2. Market Trends in Disposable Gloves - The report details the price increases in disposable nitrile gloves and PVC gloves due to rising costs of raw materials like butadiene and acrylonitrile, which have increased by 84.43% and 47.30% respectively [3] - It notes that the domestic utilization rate for nitrile gloves has improved, and export prices have been rising since late 2025 [3] 3. Regulatory Environment - The report highlights the impact of dual-use item management on the pricing of key materials, creating significant price disparities between domestic and international markets [4] - It suggests that stricter controls on resources like rare earths could enhance the competitive advantage of domestic medical products [4] 4. Innovations in Medical Devices - The report discusses the approval of the brain-machine interface by the National Medical Products Administration, which is expected to open new market opportunities [5] - It outlines the potential for significant market growth in this area, given the high number of spinal cord injury patients in China [5] 5. International Expansion of Chinese Pharmaceuticals - The report notes that there have been 39 licensing-out transactions in the innovative drug sector, with upfront payments totaling approximately $2.953 billion [6] - It emphasizes that the trend of Chinese pharmaceuticals going global continues to strengthen, with a focus on small nucleic acid drugs and dual antibodies [7] 6. Stock Recommendations - The report recommends focusing on raw material suppliers with price leadership, such as Zhejiang Medicine and Chuan Ning Biological, and highlights companies like Inco Medical and Blue Sail Medical in the disposable glove sector [8] - It also suggests monitoring companies involved in the invasive brain-machine interface and small nucleic acid drugs, indicating potential for growth in these areas [8]

Core Insights - The core viewpoint of the article highlights the successful approval of Aoshutong® (a combination of estradiol tablets and dydrogesterone tablets) by the National Medical Products Administration in November 2025, marking the second product approval in the women's health sector for the company following the approval of Aoxintong® dydrogesterone tablets in 2023 [1] Group 1: Product Approvals - Aoshutong® received its drug registration certificate in November 2025, expanding the company's product offerings in women's health [1] - Aoxintong® dydrogesterone tablets were approved in 2023, indicating a growing portfolio in the same therapeutic area [1] Group 2: Sales and Distribution - The company has been enhancing its national distribution network and strengthening its expert system, which has led to the addition of 1,754 new hospitals (including community clinics) for Aoxintong® in the first half of 2025, generating sales revenue of 95.6852 million yuan [1] - The successful approval of Aoshutong® is expected to bring additional growth to the company's formulation business [1] Group 3: Future Prospects - The company is proactively developing new products in the fields of peptides and oligonucleotides, with rapid growth in new products since 2025 [1] - The company is recognized as a leading supplier of high-quality specialty raw materials, particularly in the domestic market for peptide and oligonucleotide raw materials [1]