Group 1: Investor Relations Activities - The company conducted investor relations activities including analyst meetings, media interviews, and performance briefings from October 31 to November 1, 2024 [1] - Participating institutions included major securities firms and asset management companies, indicating a broad interest in the company's performance [1] Group 2: Overseas Market Expansion - As of September 30, 2024, the company has established an overseas business development team of approximately 40 people, doubling the number from the previous year [2] - Sales expenses increased in Q3 primarily due to personnel costs associated with the expansion of the overseas sales team [2] - New customer acquisition in overseas markets is progressing well, with increased collaboration with agents in non-core regions to enhance market penetration [2] Group 3: Financial Performance and Margins - The gross margin has declined due to increased depreciation, amortization, and rent costs associated with new facilities coming online [2] - The revenue structure is changing, with a higher proportion of revenue coming from customized breeding services, which have lower margins compared to traditional product sales [2] - The company maintains a strong pricing strategy based on product innovation and quality, rather than competing on price [2] Group 4: Industry Dynamics and Accounts Receivable - The industry is experiencing a consolidation trend, with smaller firms gradually exiting the market, particularly in the gene editing sector [3] - The company has improved its accounts receivable management, with a positive cash flow in Q3 and minimal risk of bad debts [3] Group 5: Pricing and Cost Management - Pricing for the same mouse strains is significantly higher overseas, with price differences reaching several times that of domestic prices [3] - The company anticipates a decrease in R&D and management expense ratios over the next two years, while sales expenses may increase but will be kept at reasonable levels [3] Group 6: Future Outlook and Strategic Initiatives - The company expects continued high growth in overseas revenue due to increasing market awareness and a well-structured sales team [4] - There is an openness to mergers and acquisitions, with a strategic investment in Lingkang Biotechnology to expand into the experimental pig sector [4] - The company plans to implement stock incentive or employee shareholding plans in the near future, supported by a recent share buyback announcement [4]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has shown steady revenue growth in the first three quarters, with a revenue of 510 million yuan, representing a year-on-year increase of 12.13%. However, the net profit attributable to shareholders decreased by 16.57% year-on-year to 98.21 million yuan due to various factors impacting profitability [3][4] - The company is actively expanding its high-value mouse strains and has seen a steady increase in the utilization rate of new production capacity, enhancing its service capabilities in key markets [4][5] - The company is also expanding its business development (BD) team, with nearly 100 members, and has made significant strides in international markets, achieving a 44.91% year-on-year revenue growth from overseas markets [5] Financial Performance Summary - For the first three quarters of 2024, the company achieved a revenue of 510 million yuan, a 12.13% increase year-on-year, while the net profit attributable to shareholders was 98.21 million yuan, down 16.57% year-on-year. The third quarter alone saw a revenue of 169 million yuan, a 6.70% increase year-on-year but a 7.62% decrease quarter-on-quarter [3][4] - The company has revised its profit forecasts for 2024-2026, now expecting net profits of 146 million yuan, 189 million yuan, and 233 million yuan respectively, with corresponding EPS of 0.35 yuan, 0.46 yuan, and 0.57 yuan [3][6] - The company's total revenue is projected to grow from 622 million yuan in 2023 to 983 million yuan in 2026, with a compound annual growth rate (CAGR) of approximately 19% [6][7] Market Position and Strategy - The company is focusing on innovative mouse models and has introduced over 200 new spotted mouse strains in the first half of 2024. It has also launched 25 wild mouse strains and 600 drug screening mouse strains [4] - The establishment of an overseas facility in San Diego in the first quarter of 2024 is expected to enhance the company's responsiveness and service capabilities for international clients [4] - The company has built a BD team of over 30 members dedicated to international markets, covering North America, Asia-Pacific, and Europe, serving over 200 clients [5]

证券代码：688046 证券简称：药康生物 公告编号：2024-057 江苏集萃药康生物科技股份有限公司 关于回购股份事项前十大股东和前十大无限售条件 股东持股情况的公告 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。 江苏集萃药康生物科技股份有限公司（以下简称"公司"）于 2024 年 10 月 29 日召开第二届董事会第八次会议，审议通过了《关于以集中竞价交易方式回 购公司股份方案的议案》，具体情况详见公司于 2024 年 10 月 31 日披露于上海 证券交易所网站（www.sse.com.cn）的《江苏集萃药康生物科技股份有限公司关 于以集中竞价交易方式回购股份的方案的公告》和《江苏集萃药康生物科技股份 有限公司第二届董事会第八次会议决议公告》。 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》等相 关规定，现将公司披露第二届董事会第八次会议决议公告前一个交易日（即 2024 年 10 月 30 日）登记在册的前十大股东和前十大无限售条件股东的名称、持股数 量和持股比例情况公告如下： | 序号 | 持有 ...

Investment Rating - The investment rating for the company is "Outperform the Market" [4][9] Core Views - The company has achieved a steady revenue growth of 5.10 billion yuan in the first three quarters of 2024, representing a year-on-year increase of 12.1%. However, the net profit attributable to the parent company has decreased by 16.6% to 98.21 million yuan, primarily due to increased costs associated with expansion and rising sales expenses as the company intensifies its overseas market development [1][6] - The company is currently in an expansion phase, with new production capacities being released domestically and efforts to penetrate overseas markets contributing to stable growth across various business lines [1][6] - The gross profit margin for the first three quarters of 2024 is 63.6%, down 5.5 percentage points year-on-year, while the net profit margin is 19.3%, down 6.6 percentage points year-on-year [2][6] Summary by Relevant Sections Revenue and Profitability - For Q1, Q2, and Q3 of 2024, the company reported revenues of 1.57 billion, 1.83 billion, and 1.69 billion yuan respectively, with year-on-year growth rates of 12.0%, 17.8%, and 6.7% [2][6] - The net profit for the same quarters was 29.48 million, 46.86 million, and 21.88 million yuan, with year-on-year changes of -5.1%, +0.7%, and -45.5% respectively [2][6] Cost Structure and Margins - The company’s selling, general, and administrative expenses have increased, with the sales expense ratio at 14.3%, management expense ratio at 19.2%, and R&D expense ratio at 12.4% [2][6] - The overall expense ratio for the period is 44.6%, which is a decrease of 1.3 percentage points year-on-year [2][6] Capacity and Market Expansion - New facilities in Beijing, Shanghai, and Guangdong have been completed and are expected to enhance service capabilities in key regions such as North China and the Greater Bay Area [2][6] - The company has also established its first overseas facility in San Diego, which began operations in Q1 2024, improving responsiveness to overseas clients [2][6] Financial Forecasts - Revenue forecasts for 2024, 2025, and 2026 are adjusted to 7.03 billion, 8.37 billion, and 9.83 billion yuan respectively, with net profit forecasts of 1.40 billion, 1.76 billion, and 2.16 billion yuan [9][10] - The current price-to-earnings (PE) ratios are projected at 40x, 32x, and 26x for the respective years [9][10]

Financial Performance - The company's operating revenue for Q3 2024 was ¥169,335,234.50, representing a year-on-year increase of 6.70%[2] - The net profit attributable to shareholders for Q3 2024 was ¥21,876,660.96, a decrease of 45.51% compared to the same period last year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2024 was ¥16,973,264.94, down 47.17% year-on-year[2] - The basic earnings per share for Q3 2024 was ¥0.05, a decline of 50.00% compared to the same period last year[2] - Net profit for the first three quarters of 2024 was CNY 98,214,378.60, a decrease of 16.5% compared to CNY 117,714,006.94 in the same period of 2023[20] - The total comprehensive income attributable to the parent company for Q3 2024 was ¥98,015,392.45, down from ¥118,112,827.90 in Q3 2023, indicating a decline of about 16.9%[21] - Basic and diluted earnings per share for Q3 2024 were both ¥0.24, compared to ¥0.29 in Q3 2023, representing a decrease of approximately 17.2%[21] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,533,540,486.16, a decrease of 1.71% from the end of the previous year[4] - Total assets as of the end of the third quarter of 2024 were CNY 2,533,540,486.16, a slight decrease from CNY 2,577,589,878.58 at the end of 2023[17] - Total liabilities as of the end of the third quarter of 2024 were CNY 410,226,296.03, down from CNY 452,933,434.26 in the previous year[17] - The company's cash and cash equivalents as of September 30, 2024, amount to approximately ¥490.78 million, a decrease from ¥560.17 million at the end of 2023[15] - The company's cash and cash equivalents decreased to CNY 341,384,959.63 from CNY 366,409,071.83 year-over-year[17] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥15,900,959.72, reflecting a significant decrease of 142.80%[4] - Cash inflow from operating activities for the first three quarters of 2024 was ¥420,477,343.76, slightly up from ¥411,249,887.13 in the same period of 2023[22] - The net cash flow from operating activities for the first three quarters of 2024 was -¥15,900,959.72, a significant decline from ¥37,151,483.21 in the previous year[22] - The cash and cash equivalents at the end of Q3 2024 were ¥490,670,777.90, down from ¥661,682,486.12 at the end of Q3 2023, a decrease of approximately 26%[23] - The company reported a total cash outflow from operating activities of ¥436,378,303.47 for the first three quarters of 2024, compared to ¥374,098,403.92 in the same period of 2023, indicating an increase of about 16.7%[22] Research and Development - Research and development expenses for Q3 2024 amounted to ¥25,282,819.22, accounting for 14.93% of operating revenue, a decrease of 0.73 percentage points year-on-year[4] - Research and development expenses for the first three quarters of 2024 amounted to CNY 62,993,920.42, down 16.3% from CNY 75,305,788.45 in 2023[20] Shareholder Information - The total number of common shareholders at the end of the reporting period is 6,479[9] - The largest shareholder, Nanjing Laoyan Venture Capital Partnership, holds 201,817,185 shares, representing 49.22% of the total shares[9] - The top ten shareholders collectively hold a significant portion of the company's shares, with the top three alone accounting for over 57%[9] - There are no significant changes in the participation of major shareholders in margin trading or securities lending compared to the previous period[13] Market and Expansion - The company is currently in an expansion phase, which has led to increased costs and higher sales expenses as it intensifies efforts in overseas market development[7] - The company plans to continue focusing on market expansion and new product development in the upcoming quarters[20] Inventory and Receivables - Accounts receivable increased to approximately ¥376.00 million from ¥269.39 million year-over-year[15] - The company reported a significant increase in inventory, rising to approximately ¥57.94 million from ¥47.09 million[15] - The long-term equity investment increased to approximately ¥82.34 million from ¥69.20 million[15]

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、准确性和完整性依法承担法律责任。 证券代码：688046 证券简称：药康生物 公告编号：2024-055 一、董事会会议召开情况 江苏集萃药康生物科技股份有限公司（以下简称"公司"）第二届董事会第八 次会议于 2024 年 10 月 29 日现场结合通讯的方式召开。本次会议的通知已于 2024 年 10 月 24 日送达全体董事。本次会议由董事长高翔先生召集并主持，应参 会董事 9 人，实际出席董事 9 人，其中独立董事 3 人，公司监事、高级管理人员 列席了会议。本次会议的召集、召开符合《中华人民共和国公司法》（以下简称 《公司法》）等法律法规及《江苏集萃药康生物科技股份有限公司章程》（以下简 称《公司章程》）的相关规定。 江苏集萃药康生物科技股份有限公司 第二届董事会第八次会议决议公告 （二）审议通过《关于终止回购公司股份方案的议案》 2024年1月4日至2024年10月29日期间，公司通过上海证券交易所系统以集中 竞价交易方式累计回购公司股份1,521,975股，占公司总股本的0.3712%%，最高成 1 ...

证券代码：688046 证券简称：药康生物 公告编号：2024-055 江苏集萃药康生物科技股份有限公司 关于以集中竞价交易方式回购股份的方案的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 江苏集萃药康生物科技股份有限公司（以下简称"公司"）拟通过集中竞价交 易方式回购部分公司已发行的人民币普通股（A 股）股票，回购方案具体如下： ● 回购股份金额：不低于人民币 2,200 万元（含），不超过人民币 4,000 万元 （含）； ● 回购股份资金来源：公司自有资金和股票回购专项贷款资金（包括兴业银行 股份有限公司南京建邺支行提供的股票回购专项贷款） ● 回购股份用途：员工持股计划或股权激励 ● 回购股份价格：不超过人民币 18 元/股（含），该价格不高于公司董事会通 过回购方案决议前 30 个交易日公司股票交易均价的 150%； ● 回购股份方式：集中竞价交易方式； ● 回购股份期限：自公司董事会审议通过本次回购股份方案之日起12个月内； ● 相关股东是否存在减持计划：公司董事、监事、高级管理人员、控 ...

证券代码：688046 证券简称：药康生物 公告编号：2024-053 江苏集萃药康生物科技股份有限公司 关于股份回购实施结果暨股份变动的公告 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： | 回购方案首次披露日 | 2023/12/12，由公司董事长、实际控制人提议 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 2023 年 12 月 年 | 25 | 日~2024 | 12 | 月 | 24 | 日 | | 预计回购金额 | 2,000 万元~4,000 万元 | | | | | | | | 回购价格上限 | 元/股 29 | | | | | | | | 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 | | | | | | | | 实际回购股数 | 股 1,521,975 | | | | | | | ...

一、监事会会议召开情况： 江苏集萃药康生物科技股份有限公司（以下简称"公司"）第二届监事会第 七次会议于 2024 年 10 月 29 日现场结合通讯的方式召开。本次会议的通知已于 2024 年 10 月 24 日送达全体监事。本次会议由监事会主席琚存祥先生召集并主 持，应参会监事 3 人，实际出席监事 3 人，公司部分高级管理人员列席了会议。 本次会议的召集、召开符合《中华人民共和国公司法》等法律法规及《江苏集萃 药康生物科技股份有限公司章程》的相关规定。 二、监事会会议审议情况： 证券代码：688046 证券简称：药康生物 公告编号：2024-056 本次会议以记名投票方式表决，审议并通过了以下议案： 江苏集萃药康生物科技股份有限公司 第二届监事会第七次会议决议公告 公司监事会及全体监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、准确性和完整性依法承担法律责任。 具体内容详见公司刊登在上海证券交易所网站（www.sse.com.cn）的《江苏 集萃药康生物科技股份有限公司 2024 年第三季度报告》。 特此公告。 江苏集萃药康生物科技股份有限公司监事会 2024 年 1 ...

证券代码：688046 证券简称：药康生物 公告编号：2024-052 江苏集萃药康生物科技股份有限公司 2024 年半年度 权益分派实施公告 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 重要内容提示： 每股现金红利 0.03 元 相关日期 | 股权登记日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | | 2024/11/1 | 2024/11/4 | 2024/11/4 | 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经公司 2024 年 9 月 26 日的 2024 年第一次临时股东大会审 议通过。 二、 分配方案 1. 发放年度：2024 年半年度 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 （公司回购专用证券账户除外）。 根据《上市公司股份回购规则》《上海证券交易所上市公司自律监管指引第 7 号——回购股份》的有关规定，上市公司回购专用账户中的股份，不 ...