Company Overview - Chengdu Saintno Biological Technology Co., Ltd. was established in July 2001 and is recognized as a high-tech enterprise in Sichuan Province [2] - The company primarily provides CDMO services for peptide drugs, establishing a comprehensive R&D pipeline and industry platform [2] - It has completed over 40 CDMO projects for new drug development, with 2 products approved for commercialization, 1 in the production application stage, and 20 in clinical trial stages [2][3] Financial Performance - In the first half of 2024, the company achieved revenue of CNY 198.94 million, a year-on-year increase of 14.44% [2] - The net profit attributable to shareholders was CNY 21.79 million, up 8.14% year-on-year [2] - The net profit after deducting non-recurring gains and losses was CNY 19.12 million, reflecting a significant increase of 106.55% [2] R&D and Product Development - The company is advancing multiple GLP-1 innovative drug projects, with one product already submitted for production and others in various clinical trial phases [2][3] - The company has a complete R&D pipeline for peptide APIs and formulations, enhancing its market share and service capabilities [3] Capacity Expansion and Market Strategy - The company has completed the construction of several production lines, including a project with an annual capacity of 395 kg of peptide APIs, which is expected to enter trial production soon [3] - Plans for international market expansion include establishing a marketing system and exploring new markets in regions such as the US, EU, and Southeast Asia [3] Sales Strategy - The sales strategy involves a dual approach of seeking agents while building an internal team to enhance market coverage and sales growth [4] - The company aims to improve its market competitiveness through professional sales and marketing personnel [4] Risk Warning - The content related to industry forecasts and company development strategies should not be considered as commitments or guarantees from the company or its management [4]

华福证券 化学制剂 2024 年 08 月 01 日 司 研 圣诺生物（688117.SH） 2024 年半年度业绩点评：产能落地在即，建议关 注 GLP-1 产业大趋势 投资要点： 事件：公司发布 2024 年半年度报告 2024 年上半年实现收入 1.99 亿元，同比增长 14.4%，实现归母净 利润 0.22 亿元，同比增长 8.1%，实现扣非归母净利润 0.19 亿，同比 增长 106.6%； 2024 年 Q2 实现收入 0.95 亿，同比增长 2.8%，实现归母净利润 531.5 万元，同比下降 13.1%，实现扣非归母净利润 383.6 万元，同比 增长 28.7%。 2024 年上半年制剂+原料药业务放量明显，研发投入加大 24 年上半年公司实现收入增长 14.4%，其中注射用生长抑素、注 射用阿托西班 2023 年 6 月集采中标后，实现放量，制剂销售比去年同 期增加 48.3%，原料药境外销售比去年同期增加 97.5%。 24 年上半年公司研发投入合计 2439 万元，同比增长 56.4%，主 要系：1）公司投资 1,250 万元用于与浙江鼎昌医药科技有限公司合作 开发注射用醋酸奥曲肽微球 ...

Summary of Conference Call Industry or Company Involved - The discussion revolves around a specific product category, likely related to the pharmaceutical or biotechnology industry, as indicated by the mention of "集赛办" (likely referring to a regulatory body) and "品种" (varieties or products) [1] Core Points and Arguments - There is a significant year-over-year growth expected, potentially doubling compared to last year, which indicates strong market demand or successful product performance [1] - The recent developments in the past couple of weeks have heightened interest in this product category, suggesting that market dynamics or regulatory changes may be influencing investor sentiment [1] - A meeting was held on April 28, where the regulatory body invited discussions regarding four specific product varieties, indicating ongoing regulatory engagement and potential changes in market conditions [1] Other Important but Possibly Overlooked Content - The mention of the regulatory body and the invitation to discuss specific products suggests that there may be upcoming changes in regulations or approvals that could impact the market [1] - The focus on a particular timeframe (the last couple of weeks) indicates that recent events may have a significant impact on future performance, which could be a critical factor for investors to monitor [1]

一、说明会类型 证券代码：688117 证券简称：圣诺生物 公告编号：2024-038 成都圣诺生物科技股份有限公司 关于召开 2024 年半年度业绩说明会的公告 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： （网址 https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络文字互动 投资者可于2024年8月5日(星期一) 至2024年8月9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 (snkj@snbiopharm.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。 成都圣诺生物科技股份有限公司（以下简称"公司"）已于 2024 年 7 月 31 日在上海证券交易所网站（www.sse.com.cn）披露公司《2024 年半年度报告》， 为便于广大投资者更全面深入地了解公司 2024 年半年度经营成果、财务状况， 公司计划于 2024 年 8 月 12 日上午 10:00-11:00 举行 2024 年半年度 ...

Investment Rating - The report assigns a "Buy" rating for Shengnuo Biotech (688117) based on its strong growth potential and competitive advantages in the pharmaceutical industry [1]. Core Views - Shengnuo Biotech reported a revenue of 1.99 billion yuan for H1 2024, reflecting a year-on-year increase of 8.14%, while the net profit attributable to the parent company reached 0.22 billion yuan, up 106.55% year-on-year [1]. - The company is experiencing a reduction in gross margin and sales expense ratio due to centralized procurement impacts, while R&D expenses have increased significantly [1]. - The report highlights that self-developed products are showing high growth, particularly in the CDMO segment, which has seen a decline [1]. Financial Performance Summary - For H1 2024, the company achieved a comprehensive gross margin of 10.95%, a decrease of 0.64 percentage points, while the net profit margin attributable to the parent company increased to 9.61%, up 4.29 percentage points [1]. - The report indicates that the sales, management, R&D, and financial expense ratios for H1 2024 were 2.35%, 11.98%, 1.76%, and 0.60% respectively, with R&D expenses rising due to significant investments [1]. - The company has invested 12.5 million yuan in collaboration with Zhejiang Dingchang Pharmaceutical for the development of an injectable acetic acid octreotide microsphere project [1]. Earnings Forecast - The report forecasts that Shengnuo Biotech's revenue will reach 5.54 billion yuan in 2024, 7.03 billion yuan in 2025, and 9.05 billion yuan in 2026, with year-on-year growth rates of 27.4%, 26.8%, and 28.7% respectively [6]. - The net profit attributable to the parent company is expected to be 1.01 billion yuan in 2024, 1.20 billion yuan in 2025, and 1.41 billion yuan in 2026, with corresponding growth rates of 43.3%, 19.0%, and 17.2% [6]. - The report provides a projected PE ratio of 22.9 for 2024, 19.3 for 2025, and 16.5 for 2026, indicating a favorable valuation trend [6].

Investment Rating - The report maintains an "Accumulate" rating for the company [1] Core Views - The company has a comprehensive layout in peptide drugs, demonstrating stable revenue growth, leading technology, and a rich variety of reserves. The first half of 2024 saw revenue of 199 million RMB, a year-on-year increase of 14.44%, driven by sales growth from somatostatin and Atorvastatin after winning bids in the June 2023 centralized procurement [4] - The company has invested significantly in R&D, with expenses increasing by nearly 10 million RMB year-on-year, primarily due to collaborations and new product developments [4] - The global peptide market is rapidly growing, with high international market prices for major raw materials, indicating a significant opportunity for the company's CDMO services [4] Summary by Relevant Sections Financial Performance - Revenue (in million RMB): 396 in 2022, projected to grow to 539 in 2024E, 687 in 2025E, and 850 in 2026E, with growth rates of 2.38%, 9.93%, 23.86%, 27.41%, and 23.88% respectively [2] - Net profit attributable to the parent company (in million RMB): 64 in 2022, projected to reach 120 in 2024E, 150 in 2025E, and 186 in 2026E, with growth rates of 5.28%, 9.08%, 70.14%, 25.21%, and 23.82% respectively [2] - Diluted earnings per share (in RMB): 0.806 in 2022, expected to increase to 1.068 in 2024E, 1.338 in 2025E, and 1.656 in 2026E [2] Valuation Metrics - Price-to-Earnings (P/E) ratio: 27.57 in 2022, projected to decrease to 19.33 in 2024E, 15.44 in 2025E, and 12.47 in 2026E [2] - Price-to-Book (P/B) ratio: 2.15 in 2022, expected to decline to 2.36 in 2024E, 2.07 in 2025E, and 1.78 in 2026E [2] Production Capacity and Market Outlook - The company has completed the main construction of several projects related to peptide raw material production and is currently in the equipment debugging phase [4] - The global peptide market is expected to grow significantly, with the CDMO market being a multi-billion dollar opportunity [4]

上海君澜律师事务所 关于 成都圣诺生物科技股份有限公司 2023 年限制性股票激励计划 授予价格调整、作废及归属相关事项 之 法律意见书 二〇二四年七月 上海君澜律师事务所 法律意见书 上海君澜律师事务所 关于成都圣诺生物科技股份有限公司 2023 年限制性股票激励计划 授予价格调整、作废及归属相关事项之 法律意见书 致：成都圣诺生物科技股份有限公司 上海君澜律师事务所（以下简称"本所"）接受成都圣诺生物科技股份有 限公司（以下简称"公司"或"圣诺生物"）的委托，根据《上市公司股权激 励管理办法》（以下简称"《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》"）《科创板上市公司自律监管指南第 4 号—股权激励信息披露》（以下简称"《监管指南》"）《成都圣诺生物科技 股份有限公司 2023 年限制性股票激励计划》（以下简称"《激励计划》"或 "本次激励计划"）的规定，就圣诺生物本次激励计划调整授予价格、作废部 分已授予尚未归属的限制性股票、首次及预留授予部分第一个归属期符合归属 条件（以下简称"本次调整、作废及归属"）相关事项出具本法律意见书。 对本法律意见书，本所律师声明如下： 本 ...

证券代码：688117 证券简称：圣诺生物 公告编号：2024-037 成都圣诺生物科技股份有限公司 第四届董事会第二十二次会议决议公告 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。 一、董事会会议召开情况 成都圣诺生物科技股份有限公司（以下简称"公司"）第四届董事会第二十 二次会议通知于 2024 年 7 月 20 日以电话及邮件方式向各位董事发出，并于 2024 年 7 月 30 日在公司会议室以现场结合通讯方式召开。会议由公司董事长文永均 先生召集和主持。本次会议应到董事 9 人，实到董事 9 人。本次会议的召集和召 开程序符合有关法律、法规、规范性文件和《成都圣诺生物科技股份有限公司章 程》（以下简称"《公司章程》"）的规定，会议决议合法、有效。 二、董事会会议审议情况 公司 2024 年半年度报告及其摘要的编制和审议程序符合相关法律、法规、 部门规章、规范性文件及《公司章程》等内部管理制度的有关规定。报告的内容 与格式符合有关规定，公允地反映了公司报告期内的财务状况和经营成果等事 项。报告披露的信息真实、准确、 ...

关于 2023 年限制性股票激励计划 经核查，除 3 名首次授予激励对象因离职不符合归属条件，本次拟归属的 74 名首次授予激励对象、6 名预留授予激励对象符合《公司法》《证券法》等法律、 法规和规范性文件以及《公司章程》规定的任职资格，符合《管理办法》《上市 规则》等法律、法规和规范性文件规定的激励对象条件，符合本激励计划规定的 激励对象范围，其作为本激励计划首次及预留授予激励对象的主体资格合法、有 效，激励对象获授限制性股票的第一个归属期归属条件已成就。监事会同意本次 符合条件的 74 名首次授予激励对象、6 名预留授予激励对象办理归属，对应限 制性股票的归属数量为 418,556 股。上述事项均符合相关法律、法规及规范性文 件所规定的条件，不存在损害公司及股东利益的情形。 成都圣诺生物科技股份有限公司 监事会 2024年7月30日 首次及预留授予第一个归属期归属名单的核查意见 成都圣诺生物科技股份有限公司（以下简称"公司"）监事会依据《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》"）、《上市公司股权激励管理办法》（以下简称"《管理办法》"）、《上 ...

证券代码：688117 证券简称：圣诺生物 公告编号：2024-035 成都圣诺生物科技股份有限公司 关于 2023 年限制性股票激励计划首次及预留授予 部分第一个归属期符合归属条件的公告 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： 限制性股票拟归属数量：418,556 股 归属股票来源：向激励对象定向发行的成都圣诺生物科技股份有限公司 （以下简称"公司"）人民币 A 股普通股股票 一、公司 2023 年限制性股票激励计划（以下简称"本激励计划"）批准及 实施情况 （一）本激励计划方案及履行的程序 1、本激励计划主要内容 （1）股权激励方式：第二类限制性股票 1 本激励计划首次授予部分限制性股票的归属安排如下表所示： | 归属期 | 归属期间 | 归属比例 | | --- | --- | --- | | 第一个归属期 | 自首次授予部分限制性股票授予日起 12 个月后的首 24 | 30% | | | 个交易日起至首次授予部分限制性股票授予日起 | | | | 个月内的最后一个交易日当日止 | | | ...