Group 1 - The company Aorite (SH 605116) announced a share buyback of approximately 2.22 million shares, representing 0.55% of its total share capital, with a total expenditure of about 46.23 million RMB [1][1][1] - The highest and lowest prices for the repurchased shares were 22.59 RMB/share and 18.83 RMB/share, respectively [1][1][1] - As of the report, Aorite's market capitalization stands at 8.9 billion RMB [1][1][1] Group 2 - For the first half of 2025, Aorite's revenue composition is as follows: 85.12% from self-produced raw materials and intermediates, 11.64% from formulations, 2.74% from trading, and 0.5% from other businesses [1][1][1]

| 证券代码：605116 | 证券简称：奥锐特 | 公告编号：2025-083 | | --- | --- | --- | | 债券代码：111021 | 债券简称：奥锐转债 | | 奥锐特药业股份有限公司 关于以集中竞价交易方式回购公司股份的进展公告 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。 | 回购方案首次披露日 | 2025/1/22 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 2025 1 月 | 年 | 月 | 21 | 日~2026 | 年 | 1 | 20 日 | | 预计回购金额 | 6,000万元~12,000万元 | | | | | | | | | 回购用途 | □减少注册资本 □用于员工持股计划或股权激励 | | | | | | | | | | √用于转换公司可转债 | | | | | | | | | | □为维护公司价值及股东权益 | | | | | | | | | 累计 ...

Investment Rating - The report recommends a "Buy" rating for multiple companies in the pharmaceutical sector, including Junshi Biosciences, Hualing Pharmaceutical-B, Aorite, and others [1]. Core Views - The pharmaceutical sector experienced a 3.29% increase this week, outperforming the CSI 300 index by 4.37 percentage points. Sub-sectors such as pharmaceutical commerce, pharmacies, and innovative drugs performed well, while medical devices and consumables lagged [2][12]. - The report emphasizes the importance of market pricing power and the impact of liquidity and risk appetite on investment strategies, particularly in innovative drugs and related supply chains [2][12]. - The report highlights the upcoming patent expirations for small molecule drugs, which are expected to create significant demand for raw materials, with a projected sales impact of $390 billion from 2025 to 2030 [3][13]. Summary by Sections Industry Performance - The pharmaceutical sector's performance this week was characterized by a 3.29% increase, with notable performances in pharmaceutical commerce (+7.31%), pharmacies (+6.83%), and innovative drugs (+5.01%). In contrast, medical devices (0.16%) and new medical infrastructure (1.18%) showed weaker performance [17][29]. - The overall price-to-earnings (P/E) ratio for the pharmaceutical industry is reported at 30.84 times, with a premium of 25.08% compared to the overall A-share market excluding the financial sector [33]. Company Dynamics - Notable company announcements include: - Prologis Pharmaceuticals received a European certificate for its product, enhancing its international market prospects [18]. - Jianyou Co. announced FDA approval for its production site, expanding its manufacturing capabilities [19]. - Fuyuan Pharmaceuticals received a drug registration certificate from the National Medical Products Administration, allowing for the marketing of its product [20]. - The report suggests focusing on companies benefiting from domestic innovative drug support policies, such as Yangguang Nuohuo and Nuosige, as well as those with strong overseas business prospects [15][7]. Raw Materials - The report indicates that the raw materials sector is expected to see a significant increase in demand due to patent expirations, with a projected sales impact of $390 billion from 2025 to 2030. The production of raw materials in H1 2025 reached 1.935 million tons, reflecting an 8.2% year-on-year increase [3][13]. - Companies recommended for attention in the raw materials sector include Aorite, Prologis Pharmaceuticals, and Aoxiang Pharmaceuticals, focusing on innovation and strong performance [3][16].

Core Points - The company will hold a Q3 2025 earnings presentation on November 24, 2025, from 13:00 to 14:00 [2][4] - The presentation will take place at the Shanghai Stock Exchange Roadshow Center and will be conducted in an interactive online format [3][4] - Investors can submit questions from November 17 to November 21, 2025, and the company will address common concerns during the presentation [2][5] Meeting Details - The meeting is scheduled for November 24, 2025, from 13:00 to 14:00 [4] - Location: Shanghai Stock Exchange Roadshow Center [4] - Participants include the Chairman, Secretary of the Board, CFO, and Independent Director [4] Investor Participation - Investors can join the meeting online via the Shanghai Stock Exchange Roadshow Center [4] - Questions can be pre-submitted through the Roadshow Center website or via the company's email [5] - Post-meeting, the presentation details will be available on the Roadshow Center website [5]

证券代码：605116 证券简称：奥锐特 公告编号：2025-082 债券代码：111021 债券简称：奥锐转债 会议召开时间：2025 年 11 月 24 日 （星期一） 13:00-14:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 11 月 17 日（星期一）至 11 月 21 日（星期五）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 ir@aurisco.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。 奥锐特药业股份有限公司（以下简称"公司"）已于 2025 年 10 月 31 日发 布公司 2025 年第三季度报告，为便于广大投资者更全面深入地了解公司 2025 年第三季度经营成果、财务状况，公司计划于 2025 年 11 月 24 日（星期一） 下 午 13:00-14:00 举行 2025 年第三季度业绩说明会，就投资者关心的问题进行交 流。 一、说明会类型 奥锐特药业 ...

Core Viewpoint - Aorite's stock price has shown a positive trend with an 11.95% increase year-to-date, reflecting strong financial performance and market interest in the company [2]. Company Overview - Aorite Pharmaceutical Co., Ltd. is located in the Badu Industrial Park, Tiantai County, Zhejiang Province, established on March 5, 1998, and listed on September 21, 2020 [2]. - The company's main business involves the research, production, and sales of specialty raw materials and pharmaceutical intermediates, with revenue composition as follows: 85.12% from raw materials and intermediates, 11.64% from finished drugs, 2.74% from import and export trade, and 0.50% from other sources [2]. - Aorite belongs to the pharmaceutical and biological industry, specifically in the chemical pharmaceutical and raw material drug sector, and is associated with concepts such as small-cap stocks, raw materials, buybacks, peptide drugs, and synthetic biology [2]. Financial Performance - For the period from January to September 2025, Aorite achieved a revenue of 1.237 billion yuan, representing a year-on-year growth of 13.67%, while the net profit attributable to shareholders was 354 million yuan, up 24.58% year-on-year [2]. - As of September 30, the number of Aorite's shareholders was 11,500, a decrease of 2.17% from the previous period, with an average of 35,094 circulating shares per person, an increase of 3.92% [2]. Dividend Information - Since its A-share listing, Aorite has distributed a total of 372 million yuan in dividends, with 272 million yuan distributed over the past three years [3].

Investment Rating - The report maintains an "Accumulate" rating for the pharmaceutical and biotechnology industry [1]. Core Views - The report highlights a positive change in the specialty raw materials sector, recommending companies such as Aorite and Prolo Pharmaceuticals [1]. - The report suggests that the Q3 performance of raw material pharmaceutical companies has reached a bottom, indicating potential recovery in profitability as high-cost inventory is consumed [19][20]. Summary by Sections Investment Highlights - The recommended sub-industry rankings are: Innovative Drugs > Research Services > CXO > Traditional Chinese Medicine > Medical Devices > Pharmacies [3][12]. - Specific stock recommendations include: - From raw materials: Aorite, Qianhong Pharmaceutical - From Traditional Chinese Medicine: Zorui Pharmaceutical, Fangsheng Pharmaceutical, Dong'e Ejiao - From medical devices: United Imaging Healthcare, Yuyue Medical - From AI pharmaceuticals: Jingtai Holdings - From GLP-1 sector: Lianbang Pharmaceutical, Borui Pharmaceutical, Zhongsheng Pharmaceutical, and Innovent Biologics - From PD-1/VEGF dual antibodies: Sanofi Biopharmaceuticals, Kangfang Biologics, and Rongchang Biopharmaceuticals - From innovative drugs: Innovent Biologics, BeiGene, HengRui Medicine, Zai Lab, Baillie Tianheng, Kelun Pharmaceutical, Dize Pharmaceutical, and Haizheng Pharmaceutical [3][15]. Industry Trends - The A-share pharmaceutical index has seen a year-to-date increase of 18.2%, while the Hang Seng Biotechnology Index has increased by 76.6% [6][11]. - The report notes that the raw material pharmaceutical sector is under pressure due to high base effects and declining prices, with significant revenue impacts [19][20]. R&D Progress and Company Dynamics - Recent approvals include Novartis' radioligand therapy drug, which received dual indications for prostate cancer treatment [2]. - The report provides an overview of ongoing clinical trials and drug approvals, emphasizing the importance of innovation in the pharmaceutical sector [30]. Market Performance - The report indicates that the pharmaceutical sector has experienced adjustments, with notable stock performances including significant gains for companies like Hezhong China (+61%) and Wanze Shares (+30%) [11]. - The report also highlights the performance of various pharmaceutical stocks, noting both gains and losses in the market [16][17]. Raw Material Pricing Trends - The price of 6-APA has dropped significantly, from 370 RMB/kg in 2022 to 180 RMB/kg in October 2025, a decrease of 51% [23]. - The price of Amoxicillin has also decreased from 320 RMB/kg in January 2023 to 190 RMB/kg in October 2025, a decline of 41% [23]. Conclusion - The report suggests that as high-cost inventory is depleted, the gross margins for raw material producers are expected to improve, indicating a potential recovery in profitability for companies like Fuxiang Pharmaceutical and Lukang Pharmaceutical [19][23].

Shareholder Reduction Plans - Zhongjing Technology's shareholder Longi Green Energy plans to reduce holdings by no more than 3.8764 million shares [1] - Guobo Electronics' shareholder China Electronics Technology Group plans to reduce holdings by no more than 2.00% [1] - Hongbai New Materials' shareholder Xinyu Baolong plans to reduce holdings by no more than 19.5 million shares [1] - Founder Securities' shareholder China Cinda plans to reduce holdings by no more than 82.321 million shares [1] - Ningbo Zhongbai's shareholder Zhang Jiangbo plans to reduce holdings by no more than 1% [1] - Suli Co., Ltd.'s shareholder Gusheng Investment plans to reduce holdings by no more than 900,000 shares [1] - Ruihua Tai's shareholder Hangke New Century plans to reduce holdings by no more than 180,000 shares [1] - Shenkong's shareholder More Liangzhao plans to reduce holdings by no more than 2% [1] Other Notable Events - Yao Yigou received a tax matter notification [1] - ST Lingnan is being prosecuted for alleged collusion in bidding [1]

Group 1: Share Buyback Announcement - The company has approved a share buyback plan with a total fund of no less than RMB 60 million and no more than RMB 120 million, with a maximum buyback price of RMB 25.00 per share, to be completed within 12 months [2] - As of October 31, 2025, the company has repurchased 2,124,938 shares, accounting for 0.52% of the total share capital, with a total expenditure of RMB 44,006,599.68 [4] - The maximum buyback price has been adjusted to RMB 24.71 per share following the annual profit distribution plan [3] Group 2: Shareholder Reduction Plan - Major shareholders hold a total of 167,919,800 shares, representing 41.34% of the company's total shares, with specific holdings detailed for each entity [9] - The shareholder Tian Tai Bo En plans to reduce its holdings by up to 1,000,000 shares within three months after the announcement, which is 0.25% of the total share capital [10] - The reduction is aimed at meeting the financial needs of some partners and has been planned in accordance with previous commitments made during the IPO [12][14]

Group 1 - The company, Aorite (605116), announced on November 4 that it has repurchased a total of 2,124,938 shares through the Shanghai Stock Exchange trading system, representing 0.52% of its current total share capital [1]