| 回购方案首次披露日 | 2025/2/8 | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 2025 年 2 月 8 | 24 | 日~2025 | 年 | 月 | 23 日 | | 预计回购金额 | 5,000万元~10,000万元 | | | | | | | 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 | | | | | | | 累计已回购股数 | 1,668,508股 | | | | | | | 累计已回购股数占总股本比例 | 1.84% | | | | | | | 累计已回购金额 | 75,802,230.68元 | | | | | | | 实际回购价格区间 | 37.47元/股~53.30元/股 | | | | | | 证券代码：688073 证券简称：毕得医药 公告编号：2025-055 上海毕得医药科技股份有限公司 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 ...

餐饮界近期迎来了一系列重要动态，沪上阿姨与绿茶集团相继通过港交所上市聆讯，沪上阿姨更进一步，已进入招股阶段，并计划在5月8日正式挂牌。这 一连串动作预示着，继古茗、蜜雪冰城、霸王茶姬之后，2025年餐饮行业或将再添一家上市企业。 回顾过去半年的餐饮IPO市场，可谓热闹非凡。除了沪上阿姨与绿茶集团，老乡鸡、遇见小面等品牌也正排队冲刺资本市场。然而，上市并非万能钥匙， 从已上市餐饮企业的2024年年报来看，整体形势并不乐观。红餐网对20家上市餐企的年报进行统计，发现超过半数企业的净利润出现下滑，其中6家企业 跌幅更是超过100%，部分企业由盈利转为亏损。 在亏损的企业中，奈雪的茶表现尤为惨淡。其财报显示，2024年净利润从2023年的盈利0.21亿元骤降至亏损9.19亿元，创下上市以来的最大亏损纪录。同 样陷入亏损困境的还有呷哺呷哺，其2024年度收入为47.55亿元，但亏损总额达到4.01亿元。味千（中国）、海伦司、上海小南国、唐宫中国等上市餐企也 纷纷陷入亏损泥潭。 作为国内日式拉面的先行者，味千（中国）在2023年好不容易扭亏为盈，但到了2024年却又再度录得亏损。财报显示，2024年味千（中国）净亏损0. ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 48.11 CNY, compared to the current price of 40.95 CNY [4][12]. Core Insights - The company is positioned as a leader in the domestic market for drug molecular building blocks, emphasizing a multi-dimensional approach to high-quality development, with signs of an inflection point in performance [2][16]. - The report highlights the company's continuous expansion of product varieties and quantities, significant R&D investments, and a growing international presence, which collectively contribute to its competitive edge [10][11]. Financial Summary - Projected total revenue (in million CNY) for 2024A to 2027E is as follows: 1,102 (2024A), 1,337 (2025E), 1,604 (2026E), and 1,909 (2027E), with year-on-year growth rates of 0.9%, 21.4%, 20.0%, and 19.0% respectively [3]. - Projected net profit attributable to shareholders (in million CNY) for the same period is: 117 (2024A), 146 (2025E), 179 (2026E), and 214 (2027E), with growth rates of 7.2%, 24.1%, 22.9%, and 19.6% respectively [3]. - Earnings per share (EPS) are projected to be 1.29 CNY (2024A), 1.60 CNY (2025E), 1.97 CNY (2026E), and 2.36 CNY (2027E) [3]. Company Overview - The company, established in 2007, provides professional and efficient drug molecular building blocks and scientific reagent products and services for new drug research and development [16][17]. - It has a robust product portfolio with over 128,000 types of stock items and the capability to offer more than 500,000 unique and functional drug molecular building blocks [17][21]. Industry Context - The domestic market is experiencing a recovery in demand, with a pressing need for domestic alternatives due to rising import costs and increased investment in local research and development [10][56]. - The overseas market is also showing signs of recovery, with an increase in demand from international pharmaceutical companies and contract research organizations (CROs) [10][56].

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 48.11 CNY, compared to the current price of 40.95 CNY [4][12]. Core Insights - The company is positioned as a leader in the domestic market for drug molecular building blocks, emphasizing a multi-dimensional approach to high-quality development, with an inflection point in performance now evident [2][10]. - The report highlights the company's continuous expansion of product varieties and quantities, with a current inventory of 130,000 types of ready-to-use products, capable of providing over 500,000 unique and functional drug molecular building blocks [10][11]. - The company has been increasing its R&D investment, with some products reaching international advanced levels while maintaining a price advantage, being priced at 1/5 to 1/10 of international leaders like Sigma-Aldrich [10][11]. - The overseas revenue for the company is projected to reach 616 million CNY in 2024, with a gross margin of 50.40%, significantly higher than domestic margins, and a compound annual growth rate (CAGR) of 43.52% from 2018 to 2024 [10][12]. Financial Summary - The company's total revenue is forecasted to grow from 1,102 million CNY in 2024 to 1,909 million CNY in 2027, with year-on-year growth rates of 0.9%, 21.4%, 20.0%, and 19.0% respectively [3][12]. - The net profit attributable to shareholders is expected to increase from 117 million CNY in 2024 to 214 million CNY in 2027, with growth rates of 7.2%, 24.1%, 22.9%, and 19.6% respectively [3][12]. - Earnings per share (EPS) are projected to rise from 1.29 CNY in 2024 to 2.36 CNY in 2027, with corresponding price-to-earnings (PE) ratios decreasing from 32 to 17 [3][12]. Industry Context - The report notes a recovery in domestic market demand and an urgent need for domestic alternatives, driven by rising research funding and a shift towards local sourcing due to increased import costs [10][56]. - The overseas market is also showing signs of recovery, with an increase in demand from biopharmaceutical investments, creating significant growth opportunities for domestic companies [10][56].

国泰海通证券股份有限公司 关于上海毕得医药科技股份有限公司 2024 年度持续督导工作现场检查报告 上海证券交易所： 国泰海通证券股份有限公司（以下简称"国泰海通"、"保荐人"）作为上海 毕得医药科技股份有限公司（以下简称"毕得医药"或"公司"）首次公开发行 股票并在科创板上市的保荐人，根据《中华人民共和国公司法》《中华人民共和 国证券法》《证券发行上市保荐业务管理办法》《上海证券交易所科创板股票上市 规则》（以下简称"《上市规则》"）和《上海证券交易所上市公司自律监管指引第 11 号——持续督导》等有关法律法规的规定，对公司 2024 年度（以下简称"本 持续督导期间"）的规范运作情况进行了现场检查，现就现场检查的有关情况报 告如下： 一、本次现场检查的基本情况 （一）保荐人 国泰海通证券股份有限公司 （二）保荐代表人 雷浩、李华东 （三）现场检查时间 2025 年 4 月 21 日至 2025 年 4 月 24 日 （四）现场检查人员 雷浩、张伯尧、汪沛 （五）现场检查内容 现场检查人员对本持续督导期内发行人公司治理及内部控制、信息披露、独 立性、与关联方的资金往来、募集资金使用情况、关联交易、对外担保、 ...

国泰海通证券股份有限公司 关于上海毕得医药科技股份有限公司 2 2024 年度持续督导年度跟踪报告 | 保荐机构名称：国泰海通证券股份有限公司 | 被保荐公司简称：毕得医药 | | --- | --- | | 保荐代表人姓名：雷浩、李华东 | 被保荐公司代码：688073.SH | 重大事项提示 经中国证券监督管理委员会《关于同意上海毕得医药科技股份有限公司首次 公开发行股票注册的批复》（证监许可[2022]1885 号）批复，上海毕得医药科技 股份有限公司（以下简称"上市公司"、"公司"或"发行人"）首次公开发行股票 1,622.9100 万股，每股面值人民币 1 元，每股发行价格人民币 88.00 元，募集资 金总额为人民币 142,816.08 万元，扣除发行费用后，实际募集资金净额为人民币 130,899.89 万元。本次发行证券已于 2022 年 10 月 11 日在上海证券交易所上市。 国泰海通证券股份有限公司（以下简称"保荐机构"或"国泰海通"）担任其持续督 导保荐机构，持续督导期间为 2022 年 10 月 11 日至 2025 年 12 月 31 日。 在 2024 年 1 月 1 日至 2 ...

上海毕得医药科技股份有限公司 2024 年年度股东大会会议资料 证券代码：688073 证券简称：毕得医药 上海毕得医药科技股份有限公司 2024 年年度股东大会会议资料 2025 年 5 月 | | | 上海毕得医药科技股份有限公司 2024 年年度股东大会会议资料 上海毕得医药科技股份有限公司 2024 年年度股东大会会议须知 为了维护全体股东的合法权益，确保股东大会的正常秩序和议事效率，保证 大会的顺利进行，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"《证券法》"）《上市公司股东会规则》 以及《上海毕得医药科技股份有限公司章程》（以下简称"《公司章程》"）等 相关规定，上海毕得医药科技股份有限公司（以下简称"公司"或"毕得医药"） 特制定股东大会会议须知： 一、为确认出席大会的股东或其代理人或其他出席者的出席资格，会议工作 人员将对出席会议者的身份进行必要的核对工作，请被核对者给予配合。 二、为保证本次大会的严肃性和正常秩序，切实维护股东的合法权益，请出 席大会的股东或其代理人或其他出席者至少提前 60 分钟到达会场签到确认参会 资格。在会议主持人宣布现场 ...

Core Insights - Bid Medicine (688073.SH) reported a revenue of 1.102 billion yuan for 2024, a year-on-year increase of 0.93%, and a net profit of 117 million yuan, up 7.17% year-on-year [1] - In Q1 2025, the company continued its steady performance with a revenue of 296 million yuan, and a net profit growth of 17.71% year-on-year, with adjusted net profit excluding share-based payments increasing by 43.29% [1] - The company is positioned as a leading player in the global molecular building blocks industry, focusing on digital upgrades and process optimization to enhance management efficiency and profitability [1][2] Business Performance - The molecular building blocks segment generated 936 million yuan in revenue, maintaining stable market share, while the scientific reagents segment saw a 13.35% year-on-year growth, reaching 166 million yuan [3] - The company has nearly 130,000 types of products, including 117,000 types of molecular building blocks, significantly exceeding industry averages [3] - R&D achievements have increased, with 41 patent applications, a 156% year-on-year rise, and a 56% increase in delivered orders [3] Market Trends - The global biopharmaceutical investment landscape has improved, with the CXO industry entering an upward cycle due to supply-demand balance [2] - The ongoing U.S.-China pharmaceutical tariff disputes have shifted towards "precise technology blockades," accelerating the trend of import substitution [2] - The global market for molecular building blocks is projected to reach 54.6 billion USD by 2026, presenting significant growth opportunities for the company [3] Global Strategy - The company achieved overseas revenue of 616 million yuan in 2024, a 10.58% increase, accounting for approximately 55.9% of total revenue [4] - Bid Medicine has established regional centers in the U.S., Germany, and India to enhance local service efficiency and customer response [4] - The company aims to strengthen its global presence through localized teams and resource integration, aspiring to become a leading supplier in the molecular building blocks sector [4][5]

近期毕得医药(688073)发布2025年一季报，证券之星财报模型分析如下： 盈利能力分析 毕得医药(688073)在2025年一季度实现了较好的盈利增长。营业总收入达到2.96亿元，同比上升 12.83%；归母净利润为3069.31万元，同比上升17.71%；扣非净利润为2807.51万元，同比上升10.4%。 公司的毛利率为44.34%，同比增加了14.0%，净利率为10.36%，同比增加了4.32%。这表明公司在报告 期内的盈利能力有所提升。 每股经营性现金流为0.08元，较去年同期下降了85.27%，显示出公司在经营活动中的现金流入出现了显 著下滑。此外，应收账款为2.49亿元，占利润的比例高达211.94%，提示公司可能存在较大的应收账款 回收风险。 其他关键指标 三费(销售费用、管理费用、财务费用)占营收比例为21.63%，同比增加了17.27%，表明公司在控制成本 方面面临一定压力。每股净资产为22.37元，同比减少了0.58%，每股收益为0.34元，同比增长了 17.24%。 综上所述，虽然毕得医药在2025年一季度实现了盈利增长，但其现金流状况和负债水平的变化值得投资 者密切关注。 财务结构 ...

Investment Rating - The report maintains a positive outlook on the company, indicating a recovery in revenue growth and potential for improved profitability [2][3]. Core Viewpoints - The company operates a dual business model focusing on "drug molecular building blocks + scientific reagents," which has shown resilience despite domestic business pressures [3]. - The first quarter of 2025 saw a return to double-digit revenue growth, suggesting a recovery in the revenue stream [2][3]. - The company has a rich inventory of products and a well-established logistics system, enhancing its competitiveness on a global scale [4][5]. Revenue and Profit Analysis - In 2024, the company achieved total revenue of 1.102 billion yuan, a year-on-year increase of 0.93%, with a net profit attributable to the parent company of 117 million yuan, up 7.17% [3][6]. - The revenue from drug molecular building blocks was 936 million yuan, a decrease of 0.99%, while scientific reagents generated 166 million yuan, an increase of 13.35% [4]. - The overall gross margin for 2024 was 41.33%, with domestic operations at 29.84% and international operations at 50.40% [4]. Future Financial Projections - The company is projected to achieve revenues of 1.329 billion yuan in 2025, 1.595 billion yuan in 2026, and 1.902 billion yuan in 2027, with corresponding net profits of 146 million yuan, 179 million yuan, and 218 million yuan respectively [7]. - The expected EPS (diluted) for 2025 is 1.61 yuan, with a PE ratio of 25.90 times [7].