Core Viewpoint - The Shanghai Haoyuan Pharmaceutical Co., Ltd. is holding its fourth extraordinary general meeting of shareholders in 2025 to discuss significant governance changes, including the cancellation of the supervisory board and amendments to the company's articles of association [6][7]. Group 1: Meeting Procedures - The meeting will verify the identity of attendees and restrict entry to authorized personnel only [2]. - Shareholders must arrive 30 minutes prior to the meeting for registration and must present valid identification [2]. - Attendees are required to maintain order during the meeting and adhere to the established rules for speaking and voting [3][5]. Group 2: Agenda Items - The meeting will address two main proposals: the cancellation of the supervisory board and the revision of the company's articles of association [6][7]. - The second proposal includes 13 sub-proposals aimed at improving corporate governance and operational efficiency [8]. Group 3: Voting and Decision-Making - Voting will be conducted through a combination of on-site and online methods, with specific time slots designated for each [5][6]. - The results of the voting will be announced by the meeting host after the counting process is completed [5][6]. Group 4: Governance Changes - The proposal to cancel the supervisory board is based on recent legal amendments and aims to enhance the board's oversight capabilities through the audit committee [7]. - The company plans to revise its governance structure in accordance with the new legal framework and operational needs [8][9].

Major Events - Newland has established a subsidiary in the US and obtained an MSB license to enhance its global payment business and facilitate cross-border payment operations [3] - Zhejiang Liming's actual controllers have committed not to reduce their shareholdings within one year [4] - Tengya Precision has announced a three-month commitment from its major shareholders not to reduce their holdings [6] - *ST Yuancheng is under investigation by the CSRC for suspected false financial disclosures [7] - Anglikang has only one innovative drug project currently under development, which is in the I phase of clinical trials [8] - Yongmaotai plans to invest approximately 450 million yuan to build an intelligent manufacturing base for auto parts in Mexico [9] - Fengfan Co. intends to acquire 100% equity of eight photovoltaic power station project companies for 48 million yuan [10] - Hangzhou High-tech is changing its controlling shareholder to Jirong Weiye and will resume trading on July 2 [11][12] - Zhongke Environmental Protection is acquiring 100% equity of two environmental companies for a total of 354 million yuan [13] - Yian Technology plans to increase its investment in its subsidiary Yihang Metal by 120 million yuan [14] - *ST Aowei has reported asset losses due to mismanagement by a processing partner [15] - XWANDA intends to issue H-shares and list on the Hong Kong Stock Exchange [16] - Baichuan Co.'s actual controller and chairman is under investigation [17] - Suzhou Planning is planning to acquire control of Dongjin Aviation Technology and will suspend trading [19] - Aerospace Changfeng plans to transfer 55.45% equity of a subsidiary through public listing [20] Performance Overview - Xinhecheng expects a net profit increase of 50%-70% for the first half of 2025, estimating between 3.3 billion to 3.75 billion yuan [21] - Shida Shenghua anticipates a net loss of 52 million to 60 million yuan for the first half of 2025 [22] - Kids' King expects a net profit increase of 50%-100% for the first half of 2025, estimating between 120 million to 160 million yuan [23] - SAIC Group reported a total vehicle sales of 2.0526 million units in the first half of 2025, a year-on-year increase of 12.35% [24] - BAIC Blue Valley's subsidiary reported a 139.73% increase in sales for the first half of 2025 [25] - Seris reported a 4.44% year-on-year increase in electric vehicle sales for June [26] - Great Wall Motors reported a 1.81% increase in total vehicle sales for the first half of 2025 [27] Major Contracts - Guoxin Technology has won a 46 million yuan project for automotive electronic chips [28] - Ankao Zhidian has signed two contracts for wind power transmission projects totaling 79.69 million yuan [29] Shareholding Changes - Wuxi Zhenhua's shareholder plans to reduce its stake by up to 1% [30] - Longxun Co. shareholders plan to reduce their holdings by up to 2% [31] - FJ Environmental's major shareholder plans to reduce its stake by up to 3% [32] - Yuexiu Capital's subsidiary plans to increase its stake in Yuexiu Real Estate [33] Financing Activities - Haoyuan Pharmaceutical plans to increase its subsidiary's capital by 400 million yuan through debt-to-equity conversion [34] - Hainan Huatie plans to issue bonds not exceeding 2 billion yuan to optimize its financing structure [35]

民生证券股份有限公司 关于上海皓元医药股份有限公司 以债转股方式向全资子公司增资的核查意见 因公司实施"安徽皓元年产 121.095 吨医药原料药及中间体建设项目（一 期）"，安徽皓元作为募投项目实施主体向公司募集资金专户及自有资金账户请款， 安徽皓元收到公司支付的相应款项后，根据签署的合同及项目进度及时向供应商 完成支付，该项目已于 2024 年结项。公司在该项目中形成对安徽皓元的募集资 金债权为人民币 52,726.14 万元，自有资金债权为人民币 16,453.49 万元。 公司于 2021 年 7 月 12 日分别召开了第二届董事会第十九次会议、第二届监 事会第九次会议，审议通过了《关于使用募集资金向全资子公司增资以实施募投 项目的议案》，同意公司使用募集资金 18,000 万元向安徽皓元增资以实施募投项 目的建设事项；公司于 2024 年 3 月 22 日分别召开了第三届董事会第三十四次会 1 议、第三届监事会第三十二次会议，审议通过了《关于以债转股方式对全资子公 司增资的议案》，同意公司以债转股方式向安徽皓元增资人民币 20,000.00 万元。 具体内容详见公司分别于 2021 年 7 月 14 ...

| 证券代码：688131 | 证券简称：皓元医药 | 公告编号：2025-080 | | --- | --- | --- | | 转债代码：118051 | 转债简称：皓元转债 | | 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： 增资标的名称：安徽皓元药业有限公司（以下简称"安徽皓元"） 增资方式及金额：上海皓元医药股份有限公司（以下简称"公司"或"皓 元医药"）以债转股方式向全资子公司安徽皓元增资 40,000.00 万元人民币（以下 简称"本次增资"）。其中，由公司首次公开发行股票募集资金形成的债权 18,726.14 万元，由公司自有资金形成的债权 21,273.86 万元。 相关风险提示：本次增资属于公司董事会决策权限范围事项，无需提交 公司股东大会审议批准。本次增资事项不构成关联交易，亦不构成《上市公司重 大资产重组管理办法》规定的重大资产重组，不会对公司的财务状况和未来经营 成果造成重大不利影响。 公司于 2025 年 6 月 30 日召开第四届董事会第七次会议、第四届监事会第七 次会议， ...

| 证券代码：688131 | 证券简称：皓元医药 | 公告编号：2025-079 | | --- | --- | --- | | 转债代码：118051 | 转债简称：皓元转债 | | 上海皓元医药股份有限公司 第四届监事会第七次会议决议公告 1 告编号：2025-080）。 特此公告。 二、监事会会议审议情况 与会监事以记名投票表决方式审议并通过了：《关于以债转股方式对全资 子公司增资的议案》 公司本次以债权转股权方式向全资子公司安徽皓元药业有限公司（以下简称 "安徽皓元"）增资，不存在损害公司及股东利益的情形，相关决策审批程序符 合相关法律法规的规定。本次增资完成后安徽皓元的注册资本增加至人民币 80,000.00 万元，仍为公司全资子公司。因此，监事会同意公司以债转股方式向 安徽皓元增资。 表决结果：3 名赞成，占全体监事人数的 100%；0 名弃权，0 名反对。 具体内容详见公司于同日在上海证券交易所网站（www.sse.com.cn）披露的 《上海皓元医药股份有限公司关于以债转股方式对全资子公司增资的公告》（公 本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 ...

上海皓元医药股份有限公司 2025年第四次临时股东大会会议资料 转债代码：118051 转债简称：皓元转债 证券代码：688131 证券简称：皓元医药 2025年第四次临时股东大会会议资料 二〇二五年七月 上海皓元医药股份有限公司 2025年第四次临时股东大会会议资料 2025年第四次临时股东大会会议资料 上海皓元医药股份有限公司 目 录 | 上海皓元医药股份有限公司2025年第四次临时股东大会会议须知 | 3 | | --- | --- | | 上海皓元医药股份有限公司2025年第四次临时股东大会会议议程 | 5 | | 上海皓元医药股份有限公司2025年第四次临时股东大会会议议案 | 7 | | 议案一：关于取消监事会并修订《公司章程》的议案 | 7 | | 议案二：关于修订、制定及废止公司部分治理制度的议案 | 8 | 2 2025年第四次临时股东大会会议须知 为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，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》"）《上市公司股东会规则》及《上海皓元 医药股份有限公司章程》 ...

Investment Rating - The report maintains a "Buy" rating for multiple companies in the pharmaceutical sector, including Junshi Bioscience, Hualing Pharmaceutical-B, and others [2]. Core Insights - The report emphasizes the broad market for lipid-lowering treatments, particularly focusing on the competitive landscape of PCSK9-targeted drugs, with approximately 500 million adults in China suffering from dyslipidemia, including 120 million with high cholesterol [3][15]. - The pharmaceutical sector saw a 1.60% increase this week, underperforming the CSI 300 index by 0.35 percentage points, with sub-sectors like medical infrastructure and life sciences performing better than generics and innovative drugs [4][31]. Summary by Sections 1. Industry Perspective and Investment Recommendations - The lipid-lowering market is vast, with intense competition in PCSK9-targeted drugs [15]. - Investment strategies should focus on innovative drugs, particularly in the context of increased liquidity and risk appetite in the market [4][31]. 2. Pharmaceutical Sector Performance - The pharmaceutical sector's performance was mixed, with medical infrastructure and life sciences leading, while generics and innovative drugs lagged [4][37]. - The overall P/E ratio for the pharmaceutical industry is 27.69, with a premium of 35.26% compared to the broader A-share market [37]. 3. Company Dynamics - Notable company announcements include Baiyoutai's licensing agreement for BAT2406 in Latin America and Yifan Pharmaceutical's approval for clinical trials of a growth hormone injection [38][40]. - Companies like WuXi AppTec and Lijun Group have made significant moves, including share buybacks and new product approvals [39][41]. 4. Industry Trends - The report highlights the upcoming patent expirations for major small molecule drugs, which could lead to increased demand for raw materials [5][32]. - The report also notes the expected recovery in overseas demand, which may improve the performance of CXO companies [34]. 5. Research and Development Focus - The report discusses the clinical progress of various PCSK9-targeted therapies, including monoclonal antibodies and gene editing approaches, indicating a strong pipeline in this area [3][23][25]. - The competitive landscape for PCSK9 drugs in China is characterized by pricing and adherence challenges, with several products already on the market [27].

Core Viewpoint - Shanghai Haoyuan Pharmaceutical Co., Ltd. received an inquiry letter from the Shanghai Stock Exchange regarding its 2024 annual report, prompting a detailed response about its business operations and financial performance. Group 1: Main Business Operations - The company reported a total revenue of 2,253.67 million yuan from its research and experimental development sector in 2024, with a year-on-year growth of 32.41% in the front-end molecular building blocks and tool compounds business, generating 1,499.07 million yuan [1][4] - The product sales revenue in this segment was 1,363.90 million yuan, reflecting a 36.01% increase, while the gross profit margin stood at 63.74% [1][4] - The back-end raw materials and intermediates development business generated 754.61 million yuan, with a modest year-on-year growth of 2.49%, but product sales in this segment saw a decline of 30.45% [1][4] Group 2: Revenue and Profitability Analysis - Domestic and overseas business revenues were 1,391.69 million yuan and 861.99 million yuan respectively, with gross profit margins of 38.82% and 46.8% [1][4] - The company provided a detailed breakdown of its four business segments, including revenue, gross profit margins, and year-on-year changes, indicating a comprehensive analysis of market size and competitive landscape [1][4][6] Group 3: Market Trends and Growth Potential - The global pharmaceutical R&D expenditure is projected to grow at a rate of 4.2% annually, reaching 254 billion USD by 2026, which is expected to positively impact the life sciences reagent market [6][7] - The Chinese research reagent market has expanded from approximately 25 billion yuan in 2018 to about 48 billion yuan in 2022, with a compound annual growth rate of around 18% [6][7] - The global CDMO market is also on a growth trajectory, with expectations to reach 124.3 billion USD by 2025, indicating a robust demand for innovative drug development services [9][10] Group 4: Competitive Positioning - The company has established itself as a competitive player in the life sciences reagent sector, particularly in the molecular building blocks and tool compounds market, which is characterized by strong customization capabilities and a growing customer base [2][4] - The company’s tool compounds business is positioned favorably compared to peers, with higher revenue growth and gross profit margins, reflecting its strong international influence [11][12] - The company’s performance in the generic drug intermediates and raw materials sector aligns with industry trends, with a notable increase in the market for high-end pharmaceutical intermediates [13][14]

| 证券代码：688131 | 证券简称：皓元医药 | 公告编号：2025-078 | | --- | --- | --- | | 转债代码：118051 | 转债简称：皓元转债 | | 上海皓元医药股份有限公司 关于 2024 年年度报告信息披露监管问询函的回复公告 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。 上海皓元医药股份有限公司（以下简称"公司"）于近日收到上海证券交易所下 发的《关于上海皓元医药股份有限公司 2024 年年度报告的信息披露监管问询函》（上 证科创公函【2025】0237 号）以下简称（"《问询函》"）。根据《问询函》的要求， 公司与保荐机构民生证券股份有限公司（以下简称"民生证券"或"保荐机构"）及 年审会计师容诚会计师事务所（特殊普通合伙）（以下简称"容诚"或"年审会计师"） 对《问询函》所提及的事项进行了认真核查，现就《问询函》所涉及问题回复如下： 根据《上海证券交易所科创板股票上市规则》和《公司信息披露暂缓与豁免管理 制度》，公司对本回复中关于客户、供应商名称等事项进行豁免披露处理。本回 ...

回复的专项说明 2024 年年度报告的信息披露监管问询函 关于上海皓元医药股份有限公司 容诚专字[2025]200Z0739 号 中国·北京 容诚会计师事务所(特殊普通合伙) | 问题1.关于主营业务 | | 2 | | --- | --- | --- | | 问题2.关于存货 | | 22 | | 问题3.关于应收账款 | | 35 | | 问题4.关于固定资产和产能建设 | | 43 | | 问题5.关于商誉 | | 51 | 容诚会计师事务所（特殊普通合伙） 总所：北京市西城区阜成门外大街 22 号 1 幢 10 层 1001-1 至 1001-26 (100037) TEL:010-6600 1391 FAX:010-6600 1392 E-mail:bj@rsmchina.com.cn https://www.rsm.global/china/ 关于上海皓元医药股份有限公司 2024 年年度报告的信息披露监管问询函 回复的专项说明 容诚专字[2025]200Z0739 号 上海证券交易所： 容诚会计师事务所（特殊普通合伙）（以下简称"年审会计师"、"我们"） 作为上海皓元医药股份有限公司（以下简称" ...