方正证券承销保荐有限责任公司关于 上海赛伦生物技术股份有限公司 2025 年半年度持续督导跟踪报告 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》《上海证券交易所上市公司自律监管指引第 11 号—持续督导》《科创板 上市公司持续监管办法（试行）》等有关法律、法规的规定，方正证券承销保荐 有限责任公司（以下简称"保荐机构"）作为上海赛伦生物技术股份有限公司（以 下简称"赛伦生物"、"公司"）首次公开发行股票并在科创板上市的保荐机构， 履行持续督导职责，并出具 2025 年半年度持续督导跟踪报告。 | 序号 | 工作内容 | 持续督导情况 | | --- | --- | --- | | 1 | 建立健全并有效执行持续督导工作制度，并针对 | 保荐机构已建立健全并有效执行 | | | 具体的持续督导工作制定相应的工作计划 | 了持续督导制度，并制定了相应的 | | | | 工作计划 | | 2 | 根据中国证监会相关规定，在持续督导工作开始 | 保荐机构已与赛伦生物签订《持续 | | | 前，与上市公司或相关当事人签署持续督导协 | | | | 议，明确双方在持续督导期间的权利义务，并报 ...

Core Viewpoint - The demand for tetanus passive immunization agents in China is increasing due to rising injury cases from industrial accidents and traffic incidents, alongside a growing public awareness of health and preventive vaccinations [1][6][7]. Market Overview - The market size of China's tetanus passive immunization agents reached 3.23 billion yuan in 2022, with a year-on-year growth of 17.45% [1][7]. - However, the market is projected to decline to 2.66 billion yuan by 2024 due to a slowdown in real estate development and a decrease in the number of construction workers, who are the primary consumers of these immunization agents [1][7]. Industry Policies - The Chinese government has implemented various policies to support the development of the biological products industry, including tetanus passive immunization agents, creating a favorable environment for industry growth [4]. Industry Chain - The upstream of the tetanus passive immunization agents industry includes plasma, cell culture media, and other biological materials, while the midstream focuses on research and production, and the downstream involves medical institutions and consumers [4][5]. Competitive Landscape - The tetanus passive immunization agents market is divided into four segments, with Jiangxi Biological Products Research Institute holding a significant market share of 65.8% in the tetanus antitoxin sector [7][8]. - The market for tetanus human immunoglobulin is more competitive, with numerous companies including Shenzhen Weiguang Biological Products Co., Ltd. and Hualan Biological Engineering Co., Ltd. [8]. Development Trends - Future advancements in the tetanus passive immunization agents field are expected to include the application of monoclonal antibodies and recombinant DNA technology, leading to more efficient production methods and improved product safety [10][11]. - The increasing coverage of cold chain logistics and the promotion of hierarchical medical policies will enhance the role of grassroots medical institutions in tetanus prevention and treatment, unlocking further market potential [10][11].

Market Overview - The biopharmaceutical sector experienced a decline of 2.85% on August 27, with Kanghua Biotech leading the drop [1] - The Shanghai Composite Index closed at 3800.35, down 1.76%, while the Shenzhen Component Index closed at 12295.07, down 1.43% [1] Individual Stock Performance - Wuwei Biotech (300357) saw a significant increase of 5.38%, closing at 30.95 with a trading volume of 299,000 shares and a transaction value of 915 million yuan [1] - Kanghua Biotech (300841) reported a notable decline of 8.89%, closing at 76.60 with a trading volume of 125,200 shares and a transaction value of 993 million yuan [2] - Anke Biotech (300009) also faced a drop of 5.59%, closing at 11.14 with a trading volume of 862,300 shares and a transaction value of 990 million yuan [2] Capital Flow Analysis - The biopharmaceutical sector experienced a net outflow of 1.853 billion yuan from institutional investors, while retail investors saw a net inflow of 1.543 billion yuan [2] - The capital flow for individual stocks indicates that Hualan Biotech (002007) had a net inflow of 32.28 million yuan from institutional investors, while it faced a net outflow of 40.67 million yuan from speculative funds [3] - The overall trend shows that retail investors are actively investing in the sector despite the institutional outflows [2][3]

证券之星消息，8月26日，赛伦生物（688163）融资买入1854.27万元，融资偿还1427.62万元，融资净买 入426.65万元，融资余额1.58亿元，近3个交易日已连续净买入累计576.79万元，近20个交易日中有18个 交易日出现融资净买入。 融资融券余额1.58亿元，较昨日上涨2.78%。 | 交易日 | 两融余额(元) | 余额变动(元) | 变动幅度 | | --- | --- | --- | --- | | 2025-08-26 | 1.58亿 | 426.65万 | 2.78% | | 2025-08-25 | 1.54亿 | 91.91万 | 0.60% | | 2025-08-22 | 1.53亿 | 58.23万 | 0.38% | | 2025-08-21 | 1.52亿 | 37.68万 | 0.25% | | 2025-08-20 | 1.52亿 | 140.77万 | 0.94% | 小知识 | 交易日 | 融资净买入(元) | 融资余额(元) | 占流通市值比 | | --- | --- | --- | --- | | 2025-08-26 | 426.65万 | 1.58 ...

据证券之星公开数据整理，近期赛伦生物（688163）发布2025年中报。截至本报告期末，公司营业总收 入1.01亿元，同比上升2.82%，归母净利润3297.67万元，同比上升2.07%。按单季度数据看，第二季度 营业总收入7519.81万元，同比上升4.8%，第二季度归母净利润2921.94万元，同比下降5.23%。本报告 期赛伦生物应收账款上升，应收账款同比增幅达65.74%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率77.34%，同比增1.02%，净利率32.71%，同比减 0.73%，销售费用、管理费用、财务费用总计3201.66万元，三费占营收比31.76%，同比减2.24%，每股 净资产10.23元，同比增0.94%，每股经营性现金流-0.2元，同比减597.33%，每股收益0.3元 | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 9805.83万 | 1.01亿 | 2.82% | | 归母净利润(元) | 3230.78万 | 3297.67万 | 2.07% | | 扣非净利润(元) | ...

Group 1: Company Performance - Jia Ying Pharmaceutical reported a net profit of 20.08 million yuan for the first half of 2025, a year-on-year increase of 254.33% [1] - Aote Xun recorded a net loss of 28.97 million yuan for the first half of 2025, compared to a loss of 17.45 million yuan in the same period last year [1] - China Ruilin achieved a net profit of 74.75 million yuan, reflecting a year-on-year growth of 26.77% [1] - Shanxi Coking experienced a net loss of 77.61 million yuan, reversing from a profit of 184 million yuan in the previous year [3] - Dazhu Laser reported a net profit of 488 million yuan, a decline of 60.15% year-on-year [5] - Jin Zi Tian Zheng achieved a net profit of 21.66 million yuan, a year-on-year increase of 17.59% [7] - Bao Tai Long turned a profit with a net profit of 98.88 million yuan, compared to a loss of 192 million yuan in the previous year [9] - Qujiang Cultural Tourism reported a net loss of 13.88 million yuan, compared to a loss of 187 million yuan in the same period last year [9] - New Yisheng reported a net profit of 3.94 billion yuan, a year-on-year increase of 355.68% [11] - Blue Si Technology achieved a net profit of 1.14 billion yuan, reflecting a year-on-year growth of 32.68% [12] - Huichuan Technology reported a net profit of 2.97 billion yuan, a year-on-year increase of 40.15% [13] - Ju Yi Technology achieved a net profit of 39.79 million yuan, a year-on-year increase of 69.48% [15] - Ke Ma Technology reported a net profit of 172 million yuan, a year-on-year increase of 23.52% [22] Group 2: Company Announcements - ST Quan Wei's subsidiary signed a contract for a photovoltaic project worth approximately 1.125 billion yuan [10] - ST Ya Lian announced that its stock will be delisted from risk warnings starting August 27, 2025 [16] - Yang Fan New Materials announced that its controlling shareholder is under investigation [18] - Sairun Bio's rabies serum product has started sales in several provinces [20] - Hengsheng Electronics announced that a director plans to reduce holdings by up to 8 million shares [21] - Beijing Junzheng plans to issue H-shares and list on the Hong Kong Stock Exchange [21] - Guo An Da intends to invest 104 million yuan to gain control of Ke Wei Tai [22] - Ke Ma Technology plans to issue convertible bonds to raise up to 750 million yuan [23]

Group 1 - The core viewpoint of the article is that Sairun Bio (688163.SH) has shown continuous growth in revenue and net profit for the past three years, with a slight increase in both metrics compared to the same period last year [1] - The company's total operating revenue for the first half of 2025 was 101 million yuan, an increase of 2.82% year-on-year, with a rise of 2.76 million yuan compared to the previous year [1] - The net profit attributable to shareholders was 32.98 million yuan, reflecting a year-on-year increase of 2.07% and a rise of 669,000 yuan compared to the same period last year [1] Group 2 - The company's latest asset-liability ratio is 2.53%, ranking first among disclosed peers, and has decreased by 0.58 percentage points compared to the same period last year [3] - The latest gross profit margin is 77.34%, ranking 11th among disclosed peers, with an increase of 2.52 percentage points from the previous quarter and 0.78 percentage points year-on-year [3] - The latest return on equity (ROE) is 2.98%, ranking 14th among disclosed peers, with a year-on-year increase of 0.03 percentage points [3] Group 3 - The diluted earnings per share are 0.30 yuan, ranking 12th among disclosed peers [3] - The latest total asset turnover rate is 0.09 times, remaining flat compared to the same period last year, with a year-on-year increase of 3.00% [3] - The latest inventory turnover rate is 0.53 times, ranking 10th among disclosed peers, with an increase of 0.01 times year-on-year, reflecting a 1.62% rise compared to the same period last year [3] Group 4 - The number of shareholders is 7,724, with the top ten shareholders holding 70.73 million shares, accounting for 65.36% of the total share capital [3] - The largest shareholder is Zhao Aixian, holding 34.0 million shares [3] - The second-largest shareholder is Shanghai Zhiyuan Investment Co., Ltd., holding 22.1 million shares [3]

| 日期 | 分配方案 | 派现金额合计（亿元） | 股息率（%） | | --- | --- | --- | --- | | 2025.06.30 | 10派1.2元（含税） | 0.13 | 0.64 | | 2024.12.31 | 10派2元（含税） | 0.22 | 1.16 | | 2024.06.30 | 10派1.2元（含税） | 0.13 | 0.82 | | 2023.12.31 | 10派2元（含税） | 0.22 | 0.92 | | 2022.12.31 | 10派7.5元（含税） | 0.81 | 2.43 | | 2021.12.31 | 10派9元（含税） | 0.97 | | 证券时报·数据宝统计显示，公司今日公布了半年报，共实现营业收入1.01亿元，同比增长2.82%，实现 净利润3297.67万元，同比增长2.07%，基本每股收益为0.3元，加权平均净资产收益率为2.98%。 资金面上看，该股今日主力资金净流出612.58万元，近5日主力资金净流出1429.36万元。 8月25日赛伦生物发布2025半年度分配预案，拟10派1.2元（含税），预计派现金额合计为1298.64 ...

Group 1 - The core viewpoint of the article is that Sirun Biotech (688163.SH) has reported its half-year results for 2025, highlighting the current institutional ownership and changes in shareholding [1] - As of August 25, 2025, there are 2 institutional investors holding a total of 27 million shares of Sirun Biotech, which accounts for 24.95% of the company's total share capital [1] - The institutional ownership has decreased by 0.83 percentage points compared to the previous quarter [1] Group 2 - The report mentions that there are 2 public funds that have not disclosed their holdings in the current period, including Southern Science and Technology Innovation Board 3-Year Open Mixed and Oriental Red CSI 500 Index Enhanced Initiation A [1]

1.5本半年度报告未经审计。 1.6董事会决议通过的本报告期利润分配预案或公积金转增股本预案 公司代码：688163 公司简称：赛伦生物 第一节 重要提示 1.1本半年度报告摘要来自半年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规 划，投资者应当到上海证券交易所网站（www.sse.com.cn）网站仔细阅读半年度报告全文。 1.2重大风险提示 公司已在本报告中描述可能存在的风险，敬请查阅"第三节 管理层讨论与分析"之"四、风险因素"部分 的内容，请投资者注意投资风险。 1.3本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不存在虚假 记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 1.4公司全体董事出席董事会会议。 经董事会决议，公司2025年半年度利润分配方案为：向全体股东每10股派发现金红利1.20元（含税）。 截至审议本次利润分配方案的董事会召开日，公司总股本108,220,000股，以此计算合计拟派发现金红利 人民币12,986,400.00元（含税），占公司2025年1-6月合并报表归属上市公司股东净利润的比例为 39.38%。本次利润分配不送 ...