证券代码：688073 证券简称：毕得医药 公告编号：2025-062 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 | 2025/2/8，由董事长提议 | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 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 | 2,072,148股 | | | | | | | 累计已回购股数占总股本比例 | 2.28% | | | | | | | 累计已回购金额 | 94,147,819.45元 | | | | | ...

截至2025年6月30日 13:30，上证科创板综合指数(000680)强势上涨1.51%，成分股翔宇医疗(688626)上涨 20.01%，华强科技(688151)上涨16.29%，晶品特装(688084)上涨15.29%，毕得医药(688073)，药康生物 (688046)等个股跟涨。科创综指ETF(589680)上涨1.56%，最新价报0.98元。 科创综指ETF(589680)，场外联接A：023757；联接C：023758；联接I：024141。 以上内容与数据，与有连云立场无关，不构成投资建议。据此操作，风险自担。 民生证券称，AI应用百花齐放，医疗、司法、金融、教育等具备广阔落地潜力。随着国产模型、国产 算力生态成熟，AI应用在多个垂直场景有望加速落地。以医疗为例，6月26日，蚂蚁集团推出全新的AI 健康应用"AQ"。基于蚂蚁的医疗大模型，AQ提供健康科普、就诊咨询、报告解读、健康档案等AI功 能，连接了全国超5000家医院、近百万医生、近200个名医AI分身等医疗服务。阿里、蚂蚁、字节、腾 讯等国内科技巨头纷纷入局，以模型能力为基石，联合拥有深刻行业Know-how的IT厂商，加速推进AI 应 ...

Investment Rating - The report maintains an "Overweight" rating for the pharmaceutical and biotechnology industry [1] Core Insights - The report highlights that the turning point for research services has arrived, with a focus on companies such as Haoyuan Pharmaceutical, Bidai Pharmaceutical, and Baiaosaitu [1] - The A-share pharmaceutical index has seen a decline of 6.3% this week and an increase of 4.6% year-to-date, underperforming the CSI 300 by 3.9% and outperforming it by 2.3% respectively [4][9] - The report emphasizes the positive impact of recent policies accelerating the development of innovative drugs, which benefits upstream companies involved in research and production [4][18] Summary by Sections Industry Trends - The A-share pharmaceutical index has decreased by 6.3% this week and increased by 4.6% year-to-date, while the H-share biotechnology index has dropped by 8.2% this week but increased by 48% year-to-date [4][9] - The report notes that the pharmaceutical sector has experienced significant declines, particularly in innovative drugs, with H-shares showing more pronounced drops due to previous high gains [4][9] Research and Development Progress - Recent policies have accelerated the approval processes for innovative drugs, with the FDA reducing NDA approval times from 10-12 months to 1-2 months, and China's CDE shortening IND review times from 60 days to 30 days [18][19] - The report indicates that the demand from the industrial sector is recovering, which will benefit early-stage research suppliers [20] Market Insights - The report suggests focusing on companies that are expected to benefit from the early-stage research demand, mergers and acquisitions, and the commercialization of innovative drugs [19] - Specific companies to watch include Haoyuan Pharmaceutical, Bidai Pharmaceutical, Baiaosaitu, and others in the life sciences service sector [4][19] Investment Strategy - The report recommends a ranking of sub-sectors for investment: innovative drugs > CXO > traditional Chinese medicine > medical devices > pharmacies > pharmaceutical commerce [11] - It highlights specific companies for investment based on growth potential, low valuations, and high dividend yields, particularly in the traditional Chinese medicine sector [11][13]

Summary of Bid Pharma Conference Call Company Overview - Bid Pharma is focused on the front end of new drug research and development, primarily dealing with molecular building blocks and scientific reagents [14][3] - The company was established in 2007 and is headquartered in Shanghai, with additional operational centers in Germany and India [14] Financial Projections - Expected revenue for 2025 is 2.18 billion yuan, representing a 21% year-over-year growth [2][3] - Projected profit for 2025 is 148 million yuan, with a 26% year-over-year increase [2][3] - Target market capitalization is 5.18 billion yuan, with a target stock price of 57 yuan, indicating approximately 30% upside potential from the current price of 41 yuan [2][3] Industry Insights - The molecular building block industry is experiencing continuous growth, with a projected global market size of 54.6 billion USD by 2026, accounting for about 25% of pharmaceutical R&D innovation costs [2][6] - The domestic market is seeing a shift towards local alternatives, with only 10% of the high-end scientific reagent market currently held by domestic companies [7] Business Strategy - Bid Pharma's overseas business has increased from approximately 40% in 2019 to 56% in 2024, with a goal of reaching 70% [2][9] - The gross margin for overseas business is significantly higher than domestic, which is a key reason for expanding international operations [9] - The company has a diverse customer base, including multinational pharmaceutical companies, domestic firms, CROs, research institutions, and universities, with 80% of sales made through direct sales [10][11] Competitive Advantages - Bid Pharma has a robust brand system and a diverse customer structure, which stabilizes revenue growth [10][11] - The company offers a wide range of products, with 130,000 types of stock available and the ability to provide 400,000 novel molecular building blocks [14][19] - The company is focusing on enhancing its R&D capabilities and expanding its product offerings to meet customer needs [19] Market Trends - The global pharmaceutical R&D investment is expected to reach 417.7 billion USD by 2030, with China accounting for approximately 76.6 billion USD [6] - The trend towards domestic alternatives in the scientific reagent market is becoming more pronounced due to increased domestic R&D investment and advantages in supply cycles and pricing [7] Future Outlook - The company anticipates a 20% growth in molecular reagents and a potentially faster growth rate of around 30% for scientific reagents over the next three years [12] - The overall gross margin is expected to improve as the proportion of high-margin overseas business increases [12][13] Shareholder Structure and Incentives - The controlling shareholders, Dai Lan and Dai Long, hold approximately 47% of the company’s shares [4][15] - A stock incentive plan was introduced in 2024, requiring revenue growth of no less than 10% and profit growth of no less than 20% for 2025 and 2026 [15] Investment Recommendations - Given the expected 35x P/E ratio for 2025, there is a near 30% upside potential, making it a favorable investment opportunity [21] - Investors are advised to consider low-entry opportunities, especially in the current market environment where high volatility exists [22]

证券代码：688073 证券简称：毕得医药 公告编号：2025-060 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 | 2025/2/8,由董事长提议 | | | | | | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 2025 年 2 24 8 月 | 月 | 日~2025 | 年 | 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 | 1,817,750股 | | | | | | 累计已回购股数占总股本比例 | 2.00% | | | | | | 累计已回购金额 | 82,031,016.80元 | | | | | | 实际回购价格区间 | 37.47元/ ...

Core Points - The company, Shanghai Bid Pharmaceutical Technology Co., Ltd., has announced a differentiated cash dividend distribution plan for the year 2024, proposing a cash dividend of 0.90 CNY per share (including tax) [2][4] - The total cash dividend to be distributed amounts to approximately 77.86 million CNY (including tax), based on a total share capital of 90,882,948 shares, after deducting 4,371,774 shares held in the company's repurchase account [2][3] - The company will not issue bonus shares or increase capital reserves, and the distribution will only involve cash dividends [2][3] Dividend Distribution Details - The cash dividend distribution will be based on the total share capital after deducting shares in the repurchase account, with each shareholder receiving 9.00 CNY for every 10 shares held [2][3] - The reference price for the ex-dividend trading will be calculated as the previous closing price minus the cash dividend of 0.86 CNY per share, with no change in the number of circulating shares [3] - The relevant dates for the dividend distribution include the record date, ex-dividend date, and cash dividend payment date, which are specified in the announcement [3] Tax Implications - For individual shareholders holding shares for more than one year, the cash dividend is exempt from personal income tax, resulting in a net distribution of 0.90 CNY per share [4][5] - For shares held for less than one year, the tax will be calculated upon transfer, with a 20% tax rate applied for shares held for one month or less, leading to a net distribution of 0.81 CNY per share after tax [5][6] - Qualified foreign institutional investors (QFII) will have a 10% corporate income tax withheld, resulting in a net distribution of 0.81 CNY per share [6][7] Contact Information - For inquiries regarding the dividend distribution, shareholders can contact the company's secretariat at 021-61601560 [8]

一、本次差异化分红的原因 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 差异化分红的核查意见 国泰海通证券股份有限公司（以下简称"国泰海通"或"保荐机构"）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持续督导期间的保荐机构，根据《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》等有关法律法规和规范性 文件的要求，对毕得医药 2024 年度利润分配所涉及的差异化分红（以下简称"本 次差异化分红"）相关事项进行了核查，具体情况如下： 2025 年 5 月 14 日，公司召开 2024 年年度股东大会审议通过了《关于 2024 年度利润分配方案的议案》，公司以实施权益分派股权登记日登记的总股本扣除 公司回购专用账户中的回购股份为基数,每 10 股派发现金红利 9 元（含税）。 利润分配预案调整原则：如在实施权益分派的股权登记日前公司总股本发生 变动的，公司拟维持每股分配比例不变，相应调整分配总额，并将另行公告具体 调整情况。 截至 2025 年 5 月 20 日，公司累计回购股份 4,371,774 股，目前存放于公司 回购专 ...

| 股权登记日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | | 2025/6/6 | 2025/6/9 | 2025/6/9 | 一、 通过分配方案的股东大会届次和日期 证券代码：688073 证券简称：毕得医药 公告编号：2025-059 上海毕得医药科技股份有限公司 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： 本次利润分配方案经上海毕得医药科技股份有限公司（以下简称"公司"） 2025 年 5 月 14 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（上 海毕得医药科技股份有限公司回购专用证券账户除外）。 根据《中华人民共和国公司法》《中华人民共和国证券法》《上海证券交易所 是否涉及差异化分红送转：是 每股分配比例 每股现金红利0.90元（含 ...

Investment Rating - The report assigns a "Buy" rating to the company with a target price of 57.05 CNY per share, compared to the last closing price of 44.31 CNY [1]. Core Insights - The company, Bid Pharma, specializes in providing drug molecular building blocks and scientific reagent products and services, focusing on early-stage drug development. It has established a strong market presence and aims to enhance its product offerings through horizontal and vertical expansion strategies [4][15]. - The global and Chinese pharmaceutical R&D market is expected to grow significantly, reaching 417.7 billion and 76.6 billion USD by 2030, respectively. The molecular building block market is projected to expand to 54.6 billion USD by 2026, driven by continuous R&D investments [5][51]. - The company's overseas revenue has been increasing, with a notable rise from 1.02 billion CNY in 2019 (41.12% of total revenue) to 6.16 billion CNY in 2024 (55.89% of total revenue), indicating improved profitability potential [5][67]. Summary by Sections Company Overview - Bid Pharma was established in 2007 and focuses on the front end of the new drug development industry chain, providing a wide range of drug molecular building blocks and scientific reagents [4][15]. - The company has developed a comprehensive technical system for drug molecular building blocks, ensuring a large and diverse product library to meet customer demands [14][17]. Market Potential - The molecular building block market is expanding, with a significant shift towards domestic alternatives in the high-end scientific reagent market, where foreign brands currently dominate [5][59]. - The company is positioned to benefit from the increasing demand for innovative drugs and the ongoing trend of domestic substitution in the pharmaceutical industry [51][59]. Financial Performance - The company has shown rapid revenue growth, with a compound annual growth rate (CAGR) of 34.69% from 2019 to 2024, and is projected to continue this trend with expected revenues of 13.42 billion CNY in 2025 [19][77]. - Profit margins are stabilizing, with gross margins expected to improve as the company increases its overseas market share [5][67]. Investment Highlights - The company is expanding its product categories and enhancing its brand system, serving a diverse range of clients including multinational pharmaceutical companies, domestic enterprises, CROs, and academic institutions [6][72]. - The report forecasts significant growth in both revenue and net profit from 2025 to 2027, with net profit expected to reach 2.33 billion CNY by 2027 [77].

1、聚焦主营业务 上海毕得医药科技股份有限公司 关于 2024 年度"提质增效重回报"行动方案的 评估报告暨 2025 年度"提质增效重回报" 行动方案 尊敬的各位股东及投资者： 为深入贯彻党的二十大和中央金融工作会议精神，落实《国务 院关于进一步提高上市公司质量的意见》要求，积极响应上海证券 交易所"提质增效重回报"专项行动的倡议，上海毕得医药科技股 份有限公司（以下简称"毕得医药"、"公司"）特制定 2024 年度"提 质增效重回报"行动方案的评估报告暨 2025 年度"提质增效重回 报"行动方案，旨在通过全方位提升公司经营质量、优化治理结构、 强化科技赋能以及规范运作、积极回报投资者，实现公司的高质量 发展和可持续增长。 一、提升经营质量，夯实发展基础 毕得医药是一家专注于新药研发产业链前端的高新技术企业， 主要为全球新药研发机构提供药物分子砌块和科学试剂产品及相 关服务。公司致力于通过提供高质量、多样化的分子砌块和科学试 剂，助力客户加速新药研发进程，提升研发效率。 公司聚焦于新药研发的前端环节，即从药物靶点发现到临床候 选药物的选择阶段。这一阶段是新药研发的关键时期，对分子砌块 和科学试剂的需求量大 ...