Core Insights - The core viewpoint of the article highlights the financial performance of Borui Pharmaceutical (688166.SH) for Q3 2025, indicating a decline in net profit despite a slight increase in revenue [1] Financial Performance - Q3 revenue reached 337 million yuan, representing a year-on-year increase of 5.54% [1] - Q3 net profit was 33.15 million yuan, showing a year-on-year decrease of 53.34% [1] - Revenue for the first three quarters totaled 874 million yuan, reflecting a year-on-year decline of 10.50% [1] - Net profit for the first three quarters was 50.32 million yuan, down 71.64% year-on-year [1] Factors Affecting Performance - The decline in performance is primarily attributed to changes in flu trends and intensified market competition, leading to decreased demand and prices for oseltamivir raw materials and formulations [1] - Revenue and gross profit from antiviral products significantly decreased [1] - Sales of high-margin antifungal products declined due to fluctuations in customer demand, further impacting profit performance [1]

Core Viewpoint - The company, Borui Pharmaceutical, has initiated its first share buyback on October 30, 2025, through the Shanghai Stock Exchange, indicating a strategic move to enhance shareholder value [1] Summary by Categories Share Buyback Details - The company repurchased 55,880 shares, which represents 0.0132% of its total share capital [1] - The highest price for the repurchased shares was 54.28 yuan per share, while the lowest price was 52.96 yuan per share [1] - The total amount spent on the buyback was approximately 2.993933 million yuan, excluding stamp duty and transaction commissions [1] Compliance and Future Actions - The share buyback is in accordance with relevant laws and regulations, as well as the company's buyback plan [1] - The company will make buyback decisions based on market conditions within the designated buyback period and will fulfill its information disclosure obligations in a timely manner [1]

Financial Performance - The company's operating revenue for Q3 2025 was ¥336,811,043.10, representing a 5.54% increase compared to the same period last year[3]. - The total profit for Q3 2025 decreased by 62.81% to ¥27,436,024.01, while the profit for the year-to-date period fell by 86.66% to ¥22,414,798.66[3]. - The net profit attributable to shareholders for Q3 2025 was ¥33,146,821.66, down 53.34% year-on-year, and down 71.64% for the year-to-date period[3]. - For the period from January to September 2025, the company achieved operating revenue of RMB 874.25 million, a year-on-year decrease of 10.50%[14]. - The net profit attributable to shareholders was RMB 50.32 million, down 71.64% year-on-year, while the net profit excluding non-recurring gains and losses was RMB 46.17 million, a decrease of 73.41% year-on-year[15]. - Total revenue for the first three quarters of 2025 was RMB 874,249,705.24, a decrease of 10.5% compared to RMB 976,825,695.67 in the same period of 2024[28]. - Net profit for the first three quarters of 2025 was RMB 31,386,524.75, down 78.6% from RMB 146,757,526.84 in 2024[29]. - Basic and diluted earnings per share decreased to RMB 0.12 in 2025 from RMB 0.42 in 2024[30]. Research and Development - Research and development expenses for the current period totaled ¥121,800,276.54, an increase of 54.42% compared to the same period last year, accounting for 36.16% of operating revenue[4]. - The company is committed to a "research-driven" strategy, with increased investment in innovative drugs and inhalation formulations, particularly in the GLP-1 area[11]. - Research and development expenses surged to RMB 119,785,220.12 in the first three quarters of 2025, up 86.5% from RMB 64,234,212.22 in the same period of 2024[36]. - The company submitted 18 new domestic patent applications and obtained 3 new domestic patent grants in Q3 2025, bringing the total patent applications to 568, with 283 valid patents[21]. Cash Flow and Assets - The company reported a net cash flow from operating activities of ¥98,954,861.81 for the year-to-date period, a decrease of 17.25% compared to the previous year[3]. - The company's cash and cash equivalents decreased to approximately CNY 606.22 million from CNY 765.35 million, a decline of about 20.8%[24]. - Cash flow from operating activities generated RMB 98,954,861.81 in 2025, down from RMB 119,589,702.03 in 2024[32]. - Cash flow from investing activities resulted in a net outflow of RMB 552,569,072.10 in 2025, compared to a net outflow of RMB 424,873,137.62 in 2024[32]. - Cash flow from financing activities showed a net inflow of RMB 293,665,928.88 in 2025, contrasting with a net outflow of RMB 173,767,050.97 in 2024[32]. - The company reported a decrease in cash and cash equivalents at the end of September 2025, totaling RMB 600,216,414.68, compared to RMB 493,323,980.01 at the end of September 2024[32]. Product Development and Clinical Trials - The clinical trial for BGM0504 injection for type 2 diabetes and weight loss has completed all patient enrollments and is currently in the dosing and follow-up phase[17]. - The IND application for the weight loss indication of BGM0504 injection in the U.S. has been submitted, with the FDA recommending the submission of complete Phase 3 study protocols[18]. - The IND application for the BGM0504 injection for glucose-lowering indication has been approved in Indonesia, and the Phase 3 clinical study has officially started[19]. - The oral BGM0504 tablet for weight loss has received IND approval in both China and the U.S., with the first patient enrollment completed in Phase 1 clinical studies[19]. - The company is advancing the clinical trial for BGM1812 injection for weight loss, with IND applications submitted in both China and the U.S., and the first patient enrollment completed in the U.S.[19]. - The company has made significant progress in the development of its inhalation products, with the inhaled budesonide suspension receiving production approval and several other inhalation sprays under domestic application[20]. Financial Position - The company's total assets increased by 3.95% to ¥5,360,070,041.30 compared to the end of the previous year[4]. - As of September 30, 2025, the company's total assets amounted to approximately CNY 5.36 billion, an increase from CNY 5.16 billion at the end of 2024, reflecting a growth of about 3.9%[24][26]. - The company's current assets decreased to approximately CNY 1.47 billion from CNY 1.64 billion, representing a decline of about 10.5%[25]. - The company reported a total current liability of approximately CNY 1.17 billion, an increase from CNY 1.05 billion, indicating a rise of about 10.7%[26]. - The long-term borrowings decreased to approximately CNY 1.01 billion from CNY 1.11 billion, showing a reduction of about 9.2%[26]. - Total liabilities increased to RMB 2,317,107,953.13 as of September 30, 2025, compared to RMB 2,144,174,640.18 at the end of 2024, marking an increase of approximately 8.1%[35]. - The total equity increased to RMB 1,984,895,153.34 as of September 30, 2025, compared to RMB 1,956,679,063.30 at the end of 2024, reflecting a growth of approximately 1.4%[36].

Core Viewpoint - 博瑞医药's net profit for the first three quarters of 2025 has significantly decreased by 71.64% year-on-year, primarily due to changes in flu trends and intensified market competition affecting the demand and pricing of antiviral products [1] Financial Performance - In Q3 2025, 博瑞医药 reported revenue of 337 million yuan, representing a year-on-year increase of 5.54% [1] - The net profit for Q3 2025 was 33.15 million yuan, showing a year-on-year decline of 53.34% [1] - For the first three quarters of 2025, the total revenue was 874 million yuan, which is a year-on-year decrease of 10.50% [1] - The net profit for the first three quarters was 50.32 million yuan, reflecting a year-on-year drop of 71.64% [1] Market Dynamics - The decline in performance is attributed to reduced demand and pricing for oseltamivir raw materials and formulations, as well as a significant decrease in revenue and gross profit from antiviral products [1] - Sales of high-margin antifungal products have also declined due to fluctuations in customer demand, further impacting profitability [1]

（於中華人民共和國註冊成立的股份有限公司） 香港聯合交易所有限公司與證券及期貨事務監察委員會對本申請版本的內容概不負責，對其準確性或完整 性亦不發表任何意見，並明確表示概不就因本申請版本全部或任何部分內容而產生或因倚賴該等內容而引 致的任何損失承擔任何責任。 的申請版本 BRIGHTGENE BIO-MEDICAL TECHNOLOGY CO., LTD. 博 瑞 生 物 醫 藥（ 蘇 州 ）股 份 有 限 公 司 （「本公司」） 警告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）及證券及期貨事務監察委員會（「證監會」）的要求而 刊發，僅用作提供資訊予香港公眾人士。 本申請版本為草擬本，其內所載資訊並不完整，亦可能會作出重大變動。 閣下閱覽本文件，即代表 閣 下知悉、接納並向本公司、本公司的獨家保薦人、整體協調人、顧問或包銷團成員表示同意： 於本公司招股章程根據香港法例第32章《公司（清盤及雜項條文）條例》送呈香港公司註冊處處長註冊前，不 會向香港公眾人士提出要約或邀請。倘於適當時候向香港公眾人士提出要約或邀請，準投資者務請僅依據 與香港公司註冊處處長註冊的本公司招股章程作出投資決定。招股章程的文本將 ...

Core Viewpoint - 博瑞医药's stock price has shown significant volatility, with a year-to-date increase of 76.72%, but a notable decline of 28.13% over the past 20 days and 49.41% over the past 60 days [2] Company Overview - 博瑞医药, established on October 26, 2001, and listed on November 8, 2019, is located in Suzhou, Jiangsu Province, and specializes in the research and production of high-end generic drugs and original new drugs [2] - The company's revenue composition includes 89.90% from product sales, 6.77% from technology rights and services, and 3.33% from other sources [2] - As of June 30, 2025, 博瑞医药 reported a revenue of 537 million yuan, a year-on-year decrease of 18.28%, and a net profit attributable to shareholders of 17.17 million yuan, down 83.85% year-on-year [2] Stock Performance - As of October 29, 博瑞医药's stock price was 53.20 yuan per share, with a market capitalization of 22.509 billion yuan [1] - The stock experienced a decline of 2.01% on the same day, with a trading volume of 1.09 billion yuan and a turnover rate of 0.48% [1] - The net outflow of main funds was 3.0629 million yuan, with significant selling pressure observed [1] Shareholder Information - 博瑞医药 has distributed a total of 246 million yuan in dividends since its A-share listing, with 129 million yuan distributed over the past three years [3] - As of June 30, 2025, the number of shareholders decreased by 10.11% to 9,568, while the average circulating shares per person increased by 11.32% to 44,185 shares [2][3] - Notable changes in institutional holdings include a reduction in shares held by Hong Kong Central Clearing Limited and the entry of new shareholder Innovation Drug [3]

Core Viewpoint - 博瑞医药's subsidiary, 博瑞制药, participated in the 11th national centralized drug procurement organized by the National Organization for Drug Procurement Office, with its product, Dydrogesterone tablets, expected to win the bid [1] Group 1 - 博瑞医药's full ownership of 博瑞制药 is confirmed, indicating a strong corporate structure [1] - The participation in the national centralized procurement reflects the company's strategic approach to expand its market presence [1] - The expected bid win for Dydrogesterone tablets may enhance the company's revenue and market share in the pharmaceutical sector [1]

证券代码：688166 证券简称：博瑞医药 公告编号：2025-091 博瑞生物医药（苏州）股份有限公司 自愿披露关于参与全国药品集中采购拟中标的公告 牌影响力。 三、风险提示 目前，上述产品的采购协议签订等后续事项及对公司未来业绩影响尚存在不 确定性。公司将密切关注该事项的进展情况并严格按照相关法律法规履行信息披 露义务，敬请广大投资者谨慎决策，注意投资风险。 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。 博瑞生物医药（苏州）股份有限公司（以下简称"公司"）全资子公司博瑞 制药（苏州）有限公司（以下简称"博瑞制药"）参加了国家组织药品联合采购 办公室（以下简称"联采办"）组织的第十一批全国药品集中采购的投标工作， 博瑞制药产品地诺孕素片拟中标本次集中采购。现将相关情况公告如下： 注：上述品种的拟中标价格及拟中标数量均以联合采购办公室发布的最终数据为准。 二、此次拟中标对公司的影响 博瑞制药此次拟中标产品地诺孕素片于2024年12月获得国家药品监督管理 局核准签发的药品注册证书，为公司新上市产品，2025 年 1-9 月 ...

Core Viewpoint - The company announced that its wholly-owned subsidiary, Borui Pharmaceutical (Suzhou) Co., Ltd., participated in the national centralized procurement organized by the National Organization for Drug Procurement Office, with its product Dienogest Tablets expected to win the bid [1] Group 1 - Dienogest Tablets received approval from the National Medical Products Administration in December 2024, marking it as a new product for the company [1] - The sales revenue generated from Dienogest Tablets from January to September 2025 amounted to 1.7351 million yuan [1]

Group 1: New Stock Offerings - The tender offer for Shangwei New Materials (688585) is open from September 29, 2025, to October 28, 2025[1] - Huajian Group (600629) announced significant updates on October 22, 2025[1] - ST Dongyi (002713) reported on October 22, 2025, regarding its stock status[1] Group 2: Stock Volatility Alerts - Dayou Energy (600403) experienced severe abnormal fluctuations, with updates on October 22 and 23, 2025[1] - Multiple companies, including Tianpu Co. (605255) and Guangming Real Estate (600708), reported abnormal trading activities on October 23, 2025[1] - ST Nanzhi (002305) and ST Aowei (002231) are under scrutiny for unusual market behavior as of October 23, 2025[1]