国浩律师（杭州）事务所 关 于 国邦医药集团股份有限公司 差异化分红事项 之 专项法律意见书 关 于 地址：杭州市上城区老复兴路白塔公园 B 区 2 号、15 号国浩律师楼 邮编：310008 Grandall Building, No.2＆No.15, Block B, Baita Park, Old Fuxing Road, Hangzhou, Zhejiang 310008, China 电话/Tel: (+86)(571) 8577 5888 传真/Fax: (+86)(571) 8577 5643 电子邮箱/Mail：grandallhz@grandall.com.cn 网址/Website：http://www.grandall.com.cn 二〇二五年五月 国浩律师（杭州）事务所 法律意见书 国浩律师（杭州）事务所 国邦医药集团股份有限公司 差异化分红事项 之 专项法律意见书 致：国邦医药集团股份有限公司 国浩律师（杭州）事务所接受国邦医药集团股份有限公司（以下简称"国邦 医药"或"公司"）的委托，根据《中华人民共和国公司法》（以下简称"《公司 法》"）、《中华人民共和国证券法》（以下简称"《证 ...

每股分配比例 A 股每股现金红利0.60583元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/6/12 | － | 2025/6/13 | 2025/6/13 | 差异化分红送转： 是 一、通过分配方案的股东大会届次和日期 证券代码：605507 证券简称：国邦医药 公告编号：2025-027 国邦医药集团股份有限公司2024年年度权益分派实施公告 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： 本次利润分配方案经公司2025 年 4 月 25 日的2024年年度股东大会审议通过。 二、分配方案 1. 发放年度：2024年年度 2. 分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 根据《上海证券交易所上市公司自律监管指引第 7 号—回购股份》的规定， 公司存放于回购 ...

证券代码：605507 证券简称：国邦医药 公告编号：2025-026 根据《上市公司股份回购规则》及《上海证券交易所上市公司自律监管指引 第 7 号——回购股份》的相关规定，现将公司回购股份的进展情况公告如下： 截至 2025 年 5 月 31 日，公司通过集中竞价交易方式累计回购股份 5,375,274 股，已回购股份占公司总股本的比例为 0.96%，成交的最高价为 19.88 元/股，最低 价为 18.61 元/股，已支付的总金额为 102,600,172.21 元（不含交易费用）。 重要内容提示： | 回购方案首次披露日 | 2025/3/11 | | --- | --- | | 回购方案实施期限 | 2025/3/11~2026/3/10 | | 预计回购金额 | 1亿元~2亿元 | | 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 | | 累计已回购股数 | 5,375,274股 | | 累计已回购股数占总股本比例 | 0.96% | | 累计已回购金额 | 102,600,172.21元 | | 实际回购价格 ...

Core Viewpoint - The company has adjusted its profit distribution plan for the year 2024, increasing the cash dividend per share from 0.60000 yuan (including tax) to 0.60583 yuan (including tax) due to changes in the total share capital resulting from share buybacks [1][3]. Summary by Sections Adjusted Profit Distribution Plan - The cash dividend per share has been revised to 0.60583 yuan (including tax) from the previously announced 0.60000 yuan (including tax) [1][3]. - The adjustment is a result of the company's share buyback activities, which altered the total number of shares eligible for profit distribution while keeping the total distribution amount unchanged [1][3]. Previous Profit Distribution Plan - The initial profit distribution plan was approved on March 27, 2025, and April 25, 2025, with a total cash dividend of 335,019,120 yuan (including tax) based on a total share capital of 558,823,500 shares, excluding 458,300 shares held in the buyback account [1][2]. - The plan was based on the total share capital minus the shares in the buyback account, resulting in a base of 558,365,200 shares for the distribution [1][2]. Calculation of Adjusted Dividend - The actual number of shares eligible for distribution is calculated as 558,823,500 shares minus 5,833,574 shares in the buyback account, resulting in 552,989,926 shares [3]. - The adjusted cash dividend per share is calculated by dividing the total cash dividend amount (335,019,120 yuan) by the number of shares eligible for distribution (552,989,926), yielding approximately 0.60583 yuan per share [3]. - The total profit distribution amount remains approximately 335,017,886.87 yuan (including tax) after rounding [3]. Assurance of Distribution Implementation - The company will not engage in any actions that could alter the total share capital or the number of shares in the buyback account from the date of submitting the special application for differentiated rights distribution until the completion of the profit distribution [4].

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： 每股分配金额：每股派发现金红利由 0.60000 元（含税）调整为 0.60583 元（含税）。 本次调整原因：自 2024 年度利润分配方案披露之日起至本公告披露日， 国邦医药集团股份有限公司（以下简称"公司"）通过上海证券交易所交易系统 以集中竞价交易方式实施股份回购，公司享有利润分配权的总股本发生变动，按 照分配总额不变，相应调整每股分配比例的原则，对公司 2024 年度利润分配方 案的每股现金分红金额进行相应调整。 一、调整前利润分配方案 证券代码：605507 证券简称：国邦医药 公告编号：2025-025 国邦医药集团股份有限公司 关于调整 2024 年度利润分配方案每股分配金额的公告 公司分别于 2025 年 3 月 27 日、2025 年 4 月 25 日召开第二届董事会第十二 次会议及 2024 年年度股东大会，审议通过了《关于公司 2024 年度利润分配方案 的议案》。本次利润分配方案如下：公司拟以实施权益分派股权登记日登记的总 股本扣除公司回 ...

Investment Rating - The report maintains a "Buy" rating for the company [6][5][17] Core Views - The pharmaceutical sector is experiencing steady growth, with the animal health business expected to rebound [1][2] - In 2024, the company achieved a total revenue of 589.1 billion yuan, representing a year-on-year increase of 10.12%, and a net profit attributable to shareholders of 0.782 billion yuan, up 27.61% year-on-year [1] - The company has successfully registered 38 pharmaceutical raw materials and 16 animal health raw materials in China, with significant progress in R&D and product registration [4][5] Financial Performance - The company reported a revenue of 14.4 billion yuan in Q1 2025, a year-on-year increase of 7.57%, and a net profit of 215 million yuan, up 8.17% year-on-year [1] - The EBITDA for 2024 is projected at 155.55 billion yuan, with a net profit of 7.816 billion yuan [5][12] - The company expects revenue growth rates of 10.99% in 2025 and 11.49% in 2026 [5] Product and Market Development - The company has over 70 raw materials and intermediates in production and sales, with 21 products generating over 50 million yuan in sales [2] - Key products in the animal health sector, such as Florfenicol and Doxycycline, have seen significant increases in sales volume and market share [3] - The company has increased its R&D investment by 12.88% year-on-year, totaling 215 million yuan in 2024 [4] Valuation Metrics - The projected earnings per share (EPS) for 2025 is 1.68 yuan, with a price-to-earnings (P/E) ratio of 11.51 [5][12] - The company’s price-to-book (P/B) ratio is expected to decrease to 1.24 by 2025, indicating a favorable valuation trend [5][12]

Investment Rating - The report maintains a "Buy" rating for the company [5][6] Core Views - The pharmaceutical sector shows steady growth, with the animal health business expected to rebound [1] - In 2024, the company achieved a revenue of 5.891 billion yuan, a year-on-year increase of 10.12%, and a net profit of 782 million yuan, up 27.61% year-on-year [1] - The company has over 70 raw materials and intermediates in production and sales, with 21 products generating over 50 million yuan in sales [2] - The animal health segment has seen significant sales increases for key products, with expectations for continued price improvements in 2025 [3] - The company is actively advancing product registrations and increasing R&D investments, with 38 pharmaceutical raw materials and 16 animal health raw materials approved for registration in 2024 [4] Financial Data and Forecast - Revenue projections for 2025-2027 are adjusted to 6.538 billion yuan, 7.289 billion yuan, and 8.037 billion yuan respectively [5] - The net profit forecast for the same period is revised to 938 million yuan, 1.1 billion yuan, and 1.242 billion yuan respectively [5] - The company’s EBITDA is expected to be 1.531 billion yuan in 2025, with a P/E ratio of 11.51 [5][11] - The company’s total assets are projected to reach 10.803 billion yuan by 2025 [11]

证券代码：605507 证券简称：国邦医药 公告编号：2025-024 二、回购股份的进展情况 根据《上市公司股份回购规则》及《上海证券交易所上市公司自律监管指引 第 7 号——回购股份》的相关规定，现将公司回购股份的进展情况公告如下： 截至 2025 年 4 月 30 日，公司通过集中竞价交易方式累计回购股份 5,296,374 股，已回购股份占公司总股本的比例为 0.95%，成交的最高价为 19.88 元/股，最低 价为 18.61 元/股，已支付的总金额为 101,097,060.21 元（不含交易费用）。 上述回购事项符合相关法律法规的规定及公司回购股份方案的要求。 三、其他事项 国邦医药集团股份有限公司 关于股份回购进展公告 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： | 回购方案首次披露日 | 2025/3/11 | | --- | --- | | 回购方案实施期限 | 2025/3/11~2026/3/10 | | 预计回购金额 | 1亿元~2亿元 | | 回购用途 | □减少注册资本 √用于 ...

Investment Rating - The report assigns an "Outperform" rating to the company with a target price of RMB 28.39 based on a 17x PE for 2025 [4][12]. Core Views - The company is expected to achieve stable revenue growth, with 2024 revenue projected at RMB 5.89 billion (+10.12%) and net profit attributable to shareholders at RMB 0.78 billion (+27.61%) [4][12]. - The veterinary medicine segment is anticipated to contribute significantly to revenue growth, with a projected revenue of RMB 2.02 billion in 2024 (+10.0%) [4][13]. - The company is enhancing its global operations, with products sold in 115 countries and regions, establishing a strong position in the global pharmaceutical manufacturing industry [4][14]. Financial Summary - Revenue and net profit forecasts for 2024 and 2025 are as follows: - 2024 Revenue: RMB 5.89 billion (+10.12%) - 2024 Net Profit: RMB 0.78 billion (+27.61%) - 2025 Revenue: RMB 6.60 billion (+12.1%) - 2025 Net Profit: RMB 0.93 billion (+19.5%) [3][4][12]. - Earnings per share (EPS) are projected to be RMB 1.67 in 2025, RMB 2.01 in 2026, and RMB 2.36 in 2027 [4][12]. Business Segments - The pharmaceutical raw materials segment is benefiting from high demand for macrolide antibiotics, with a projected revenue of RMB 2.48 billion in 2024 (+11.7%) and a gross profit margin of 28.4% [4][13]. - The veterinary medicine business is expanding, with significant sales growth expected due to improved market conditions and product certifications [4][13][14]. Global Operations - The company is focusing on globalization and integration, with over 70 active pharmaceutical ingredients and intermediates expected to be produced and sold in 2024 [4][14]. - The company has established sales channels in multiple countries, enhancing its global reach and operational capabilities [4][14].

Investment Rating - The report assigns an "Outperform" rating to the company with a target price of 28.39 RMB, based on a 17x PE for 2025 [4][12]. Core Insights - The company is expected to achieve stable revenue growth, with 2024 revenue projected at 5.89 billion RMB (+10.12%) and net profit attributable to shareholders at 0.78 billion RMB (+27.61%) [4][12]. - The veterinary medicine segment is anticipated to contribute significantly to revenue, with a projected 2024 revenue of 2.02 billion RMB (+10.0%) [13][14]. - The company is enhancing its global operations, with products sold in 115 countries and regions, establishing a strong position in the global pharmaceutical manufacturing industry [14] Financial Summary - Revenue and net profit forecasts for 2024-2027 are as follows: - 2024 Revenue: 5.89 billion RMB (+10.1%) - 2024 Net Profit: 0.78 billion RMB (+27.6%) - 2025 Revenue: 6.60 billion RMB (+12.1%) - 2025 Net Profit: 0.93 billion RMB (+19.5%) - 2026 Revenue: 7.52 billion RMB (+14.0%) - 2026 Net Profit: 1.12 billion RMB (+20.0%) - 2027 Revenue: 8.61 billion RMB (+14.4%) - 2027 Net Profit: 1.32 billion RMB (+17.8%) [3][4][12]. Business Segments - The pharmaceutical raw materials segment is projected to generate 2.48 billion RMB in 2024, benefiting from high demand for macrolide antibiotics [13]. - The veterinary medicine business is expanding, with significant sales growth and increased capacity utilization for key products [13][14]. Global Operations - The company is focusing on globalization, with over 70 active pharmaceutical ingredients and intermediates expected to be produced and sold in 2024 [14]. - Established sales channels in various countries, including India, Netherlands, and Spain, enhancing its international market presence [14].