成都先导药物开发股份有限公司 2025 年第二次临时股东会会议资料 成都先导药物开发股份有限公司 2025 年第二次临时股东会会议资料 证券代码：688222 证券简称：成都先导 成都先导药物开发股份有限公司 2025 年第二次临时股东会会议资料 二〇二五年十一月 1 成都先导药物开发股份有限公司 2025 年第二次临时股东会会议资料 成都先导药物开发股份有限公司 2025 年第二次临时股东会会议须知 为维护全体股东的合法利益，确保股东会的正常秩序和议事效率，保证大会 的顺利进行，成都先导药物开发股份有限公司（以下简称"公司"或"成都先导"）根 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》"）、《成都先导药物开发股份有限公司章程》（以下 简称"《公司章程》"）及《成都先导药物开发股份有限公司股东会议事规则》（以 下简称"《股东会议事规则》"）及相关规定，特制定本须知。 一、为确认出席大会的股东或代理人或其他出席者的出席资格，会议工作人 员将对出席会议者的身份进行必要的核对工作，请被核对者给予配合。 二、出席会议的股东及股东代理人须在会议召开前 30 分 ...

证券代码：688222 证券简称：成都先导 公告编号：2025-050 成都先导药物开发股份有限公司 关于拟申请注册发行银行间债券市场非金融企业债务 融资工具的公告 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。 为满足成都先导药物开发股份有限公司（以下简称"成都先导"或"公司"） 战略发展资金需求，降低财务费用，为公司高质量发展提供低成本资金支持，根 据《中华人民共和国公司法》《银行间债券市场非金融企业债务融资工具管理办 法》等法律法规及《公司章程》规定，结合公司实际情况和银行间债券市场现状， 成都先导于 2025 年 10 月 28 日召开第三届董事会第二次会议，审议通过了《关 于拟申请注册发行银行间债券市场非金融企业债务融资工具的议案》，拟向中国 银行间市场交易商协会（以下简称"交易商协会"）申请注册发行总额不超过人 民币 4 亿元的科技创新债券。具体如下： 一、 发行方案主要内容 （一） 发行品种及规模：本次债务融资工具注册发行额度不超过 4 亿元， 为科技创新债券，基础品种为短期融资券。 （二） 发行期限：本次短 ...

成都先导药物开发股份有限公司 2025 年第三季度报告 证券代码：688222 证券简称：成都先导 成都先导药物开发股份有限公司 2025 年第三季度报告 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： 公司董事会及董事、高级管理人员保证季度报告内容的真实、准确、完整，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。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 （一） 主要会计数据和财务指标 单位：元 币种：人民币 | | | 本报告期比 | | 年初至报告期 | | --- | --- | --- | --- | --- | | 项目 | 本报告期 | 上年同期增 | 年初至报告期末 | 末比上年同期 | | | | 减变动幅度 | | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 142,781,751.65 | 37.89 | 36 ...

Group 1 - The report highlights that the performance forecasts for Q3 2025 in the electronics and basic chemicals sectors are promising, with over 10 companies expected to achieve a profit growth rate exceeding 30% year-on-year [3][29] - In the electronics sector, the AI wave is driving high growth, with AI inference creating new demand, suggesting that the sector is likely to maintain a high prosperity level [3][29] - The basic chemicals sector is experiencing structural improvement due to supply constraints and demand support, with an overall balance of supply and demand expected to improve as capacity adjustments take place [3][29] Group 2 - The report indicates that as of October 15, 2025, 154 companies in the A-share market have disclosed their Q3 2025 performance forecasts or reports, with a disclosure rate of approximately 2.83% and a pre-positive forecast rate of about 83.06% [3][30] - The median net profit growth rate for the sample companies disclosing their performance forecasts is 71.2% under the median method and 65.6% under the overall method [3][30] - The report identifies that the sectors with the highest pre-positive forecast rates include comprehensive, non-bank financial, and social services, all at 100% [3][30] Group 3 - The medical device sector saw a decline in revenue and net profit in H1 2025, with overall revenue down 7.3% and net profit down 27.0% year-on-year [8] - However, the bidding process is recovering, with the total amount of domestic medical device bids in H1 2025 reaching 83.8 billion yuan, a year-on-year increase of 64% [8] - Companies like United Imaging and Mindray are experiencing growth in overseas revenues, indicating a trend towards globalization in the medical device market [8] Group 4 - The report emphasizes the importance of AI hardware and domestic computing power as key investment areas, suggesting that the market may continue to see structural slow growth with technology remaining a core focus [10] - The electronics sector is expected to see significant advancements in AI terminal ecosystems, with hardware innovation and computing power working in synergy, potentially leading to a boom in 2026 [12] - The report also notes that major companies like Apple are enhancing their collaboration in the AI space, which could lead to a reevaluation of industry valuations [12]

Summary of Key Points from Conference Call Records Industry Overview - **Consumer Industry**: The records focus on various companies within the consumer sector, highlighting their performance and future outlook. Company-Specific Insights 1. Laopu Gold - **Performance Expectations**: Laopu Gold anticipates a revenue of 4.5 to 5 billion RMB for the year, driven by a price increase announced on October 17, which is expected to enhance market activity and sales volume [2][3] - **Price Strategy**: The company has raised its second-hand market buyback prices by at least 10%, indicating strong demand and brand promotion effects [2][3] - **Growth Projections**: Expected performance growth of 30% to 50% in 2026, with a central estimate of around 40%, supported by strong brand growth and pricing power [4] 2. Guming Tea - **Expansion Plans**: Guming Tea plans to open over 3,000 new stores in 2026, maintaining a growth rate of 20% to 25% [6][9] - **Sales Performance**: The company has shown strong same-store sales growth, with a GMV increase of over 20% in July and August, and double-digit growth in September [6][9] - **Marketing Strategy**: Plans to enhance marketing activities in 2026, including collaborations and promotions to drive sales [8] 3. Stone Technology - **Sales Growth**: Stone Technology expects over 60% growth in revenue and profit for Q3, despite recent stock price declines, presenting a buying opportunity [10][11] - **Market Dynamics**: The company is benefiting from a low base in the European market and an increase in new product sales, which supports margin recovery [10] 4. XGIMI Technology - **Product Development**: XGIMI's home projection business is stable, with low-end products benefiting from chip price reductions and high-end products achieving brightness comparable to overseas flagship models [12] - **Profitability Outlook**: Expected gross margins of over 30% for domestic sales and 50%-60% for exports in 2026, with a net profit margin around 12% [12] 5. Xin'ao Co. - **Performance Surge**: Xin'ao Co. expects a 50% increase in Q4 performance, driven by soaring wool prices and low-cost inventory [22] - **Market Conditions**: Anticipates continued high wool prices due to declining production and weak demand, providing support for future earnings [23] 6. Youran Dairy - **Market Position**: Youran Dairy benefits from stable customer channels and significant scale effects, maintaining a high sales-to-production ratio [25][26] - **Cost Control**: The company has achieved superior cost control, with costs per kilogram significantly lower than industry averages [26] 7. Shengmu Company - **Competitive Advantages**: Shengmu Company leverages its unique organic milk scarcity to achieve price premiums of 20%-35% above industry averages [28][29] - **Market Share**: Holds a 35%-40% share of the domestic organic raw milk market, with expectations for further price elasticity as milk prices rise [29] Additional Insights - **Investment Recommendations**: Companies like Laopu Gold, Guming Tea, and Stone Technology are highlighted as having strong growth potential and favorable valuations, making them attractive for investors [4][9][10] - **Market Trends**: The consumer sector is experiencing significant changes, with companies adapting to market dynamics through strategic pricing, expansion, and marketing efforts [2][5][8] This summary encapsulates the key points from the conference call records, providing insights into the performance and outlook of various companies within the consumer industry.

Investment Rating - The report initiates coverage with a "Buy" rating for Chengdu XianDao (688222) [7] Core Insights - Chengdu XianDao focuses on the discovery and optimization of small molecule and nucleic acid new drugs, leveraging four core technology platforms: DEL, FBDD/SBDD, OBT, and TPD, to establish an internationally leading R&D system for new drug discovery and optimization [1][16] - The company is a leader in DEL technology, possessing the largest known library of small molecule compounds globally, and has formed a DEL alliance with major international pharmaceutical companies, enhancing its technical leadership [2][4] - The integration of DEL and AI technologies, along with the completion of high-throughput infrastructure, positions the HAILO platform to significantly expand the chemical space for molecule screening [3][4] Summary by Sections 1. Diversified Platform Development - Chengdu XianDao is an international high-tech innovative drug R&D company with subsidiaries in Cambridge, UK, and Houston, USA, focusing on small molecule and nucleic acid drug discovery [16] - The company achieved a revenue of 227.01 million yuan in the first half of 2025, representing a year-on-year growth of 16.58%, with a net profit of 50.04 million yuan, up 390.72% [20][22] 2. New Drug Development Trends - The report highlights a resurgence in new drug development, with a significant increase in the number of new chemical entities approved by the FDA, indicating a recovery in both global and domestic new drug R&D [30][34] - In the first half of 2025, the company’s DEL segment generated revenue of 102.19 million yuan, a 40.45% increase year-on-year, driven by flexible and diversified custom library and screening services [22] 3. Financial Forecast - The company is projected to achieve revenues of 504 million yuan, 608 million yuan, and 739 million yuan for the years 2025, 2026, and 2027, respectively, with year-on-year growth rates of 17.95%, 20.70%, and 21.57% [5] - The net profit attributable to shareholders is expected to be 81 million yuan, 122 million yuan, and 156 million yuan for the same years [5]

据了解，联合体构建了覆盖"靶点确认-分子设计-分子优化-临床前研究-IND申报"全链条的AI赋能研发 体系，深度融入跨学科协作与数据驱动决策。本次针对恶性肿瘤的靶点研究中，AI系统从海量数据 （603138）中筛选出三类高优先级临床需求，经跨学科专家委员会多轮论证后锁定最终研究方向；而多 组学数据与AI建模的交叉验证，则大幅提高了靶点生物学可信度。团队在立项阶段即同步评估靶点的 成药性、专利布局空间及商业转化可行性，将立项周期缩短至传统模式的1/3。 目前，联合体在快速推动该项目进展的同时，正在持续推进三方面的工作。一是建立"AI+专家"协作的 标准化靶点确立与验证流程，形成可复制的方法论体系；二是通过高质量湿实验数据持续训练优化生物 医药大模型，强化全生命周期赋能能力；三是吸引药企、同行和科研机构加入，共建开放创新生态，加 速商业转化与合作。 中证报中证网讯（王珞）成都先导9月29日消息，由成都先导、水木分子、嘉华药锐及英飞智药四家生 物医药企业组成的"AI赋能的源头创新联合体"（以下简称"联合体"）发布了最新研究进展，通过整合人 工智能（AI）技术、多组学数据与专家经验反馈，联合体成功锁定一个针对恶性肿瘤 ...

Group 1 - The core viewpoint of the news highlights the significant stock performance and financial growth of Chengdu XianDao, with a year-to-date stock price increase of 117.62% and a recent market capitalization of 10.69 billion yuan [1] - Chengdu XianDao's main business involves drug discovery services using its core DEL technology, with 99.97% of its revenue coming from new drug research services, including customized services [1] - As of June 30, 2025, Chengdu XianDao reported a revenue of 227 million yuan, representing a year-on-year growth of 16.58%, and a net profit of 50.04 million yuan, showing a substantial increase of 390.72% [2] Group 2 - The company has a total of 18,300 shareholders as of June 30, 2025, which is an increase of 12.34% from the previous period, while the average circulating shares per person decreased by 10.98% [2] - Chengdu XianDao has distributed a total of 134 million yuan in dividends since its A-share listing, with 43.94 million yuan distributed over the last three years [3] - The company is categorized under the pharmaceutical and biotechnology sector, specifically in medical services and contract research organization (CRO) concepts, and is associated with various innovative drug and AI pharmaceutical initiatives [2]

Core Viewpoint - Equity incentives are becoming a norm in the domestic capital market, serving as an important mechanism for listed companies to improve internal governance [1] Group 1: Overview of Equity Incentives in Sichuan - As of September 17, there are 179 A-share listed companies in Sichuan, with 9 companies implementing equity incentives this year, involving over 1,250 individuals [1] - All 9 companies that have implemented equity incentives are private enterprises, indicating that private companies are the main force behind the promotion of equity incentives in Sichuan [1] - The companies implementing equity incentives span multiple industries, with the defense and military industry being the most concentrated, having 4 companies, followed by the pharmaceutical and biotechnology industry with 2 companies, and the computer, construction decoration, and basic chemical industries with 1 company each [1] Group 2: Specific Companies and Their Incentive Plans - Chengdu XianDao set the grant date for its restricted stock incentive plan as September 15, 2025, granting 1,052,200 shares at a price of 13.99 yuan per share to 102 eligible recipients [1] - Kangtong Medical confirmed the grant date for its restricted stock incentive plan as July 22, 2025, granting 1,230,000 shares at a price of 10.01 yuan per share to 80 eligible recipients [2] - Huatu Shanding determined the initial and reserved grant dates for restricted stocks as July 15, granting a total of 3,049,480 shares at a price of 32.76 yuan per share to 338 individuals [3] - Jiachitech granted 1,187,000 shares of the second category of restricted stocks to 62 eligible recipients on June 3, at a price of 27.86 yuan per share [4] - Junyi Digital set June 20 as the grant date, granting a total of 7,000,000 stock options to 45 eligible recipients at an exercise price of 19.07 yuan per share [5] - Aileda granted 2,814,000 shares of the second category of restricted stocks to 220 eligible recipients on May 16, at a price of 9.25 yuan per share [8] - Zongheng Co. granted 1,735,000 shares of the second category of restricted stocks to 95 eligible recipients on April 17, at a price of 21.68 yuan per share [9] - Qiaoyuan Co. granted 739,700 shares of restricted stocks to 229 eligible recipients on February 27, with a price of 17.64 yuan per share [10]

Group 1 - The company announced the convening of its third board meeting on September 15, 2025, to review the appointment of a securities affairs representative [2] - The board approved the appointment of Ms. Zhu Lei as the company's securities affairs representative [2]