Revenue Expectations - The company expects 2024 revenue to be between 517.93 million and 549.88 million CNY, representing a year-on-year increase of 34.03% to 42.30%[2]. - The increase in revenue is primarily due to the steady promotion of Donafenib tablets and an expanded market coverage leading to increased sales[4]. Net Loss Projections - The projected net loss attributable to the parent company for 2024 is between 163.90 million and 109.83 million CNY, a reduction in loss of 114.68 million to 168.75 million CNY compared to the previous year[2]. - The expected net loss attributable to the parent company after deducting non-recurring gains and losses for 2024 is between 197.97 million and 132.54 million CNY, a reduction in loss of 150.78 million to 216.21 million CNY compared to the previous year[2]. Research and Development - The company has continued to advance new drug research and development, resulting in a year-on-year decrease in overall R&D expenses due to the focus on core product development[5]. Sales and Financial Performance - Sales expenses as a percentage of drug sales revenue have decreased year-on-year, contributing to the expected reduction in losses for 2024[5]. - Interest income from bank deposits has increased year-on-year, further supporting the company's financial outlook[5]. Financial Reporting - The financial data provided is preliminary and has not been audited by registered accountants, with the final figures to be disclosed in the audited 2024 annual report[6][7].

证券代码：688266 证券简称：泽璟制药 公告编号：2024-048 苏州泽璟生物制药股份有限公司 关于自愿披露注射用 ZG005 与盐酸吉卡昔替尼片 联合用药获得药物临床试验批准通知书的公告 本次临床试验获批事项对公司近期业绩不会产生重大影响。由于药品的研发 周期长、审批环节多、研发投入大，容易受到一些不确定性因素的影响，敬请广 大投资者谨慎决策，注意防范投资风险。 现将相关情况公告如下： | 药品名称 | 注射用 ZG005 盐酸吉卡昔替尼片 | | | | --- | --- | --- | --- | | 剂型 | 粉针剂 片剂 | | | | 规格 | 100mg/瓶 50mg | | | | 申请人 | 苏州泽璟生物制药股份有限公司 | | | | 申请事项 | 境内生产药品注册临床试验 | | | | 审批结论 | 1、根据《中华人民共和国药品管理法》及有关规定， | | | | | 经审查，2024 年 10 月 16 日受理的注射用 | ZG005 | 临 | | | 床试验申请符合药品注册的有关要求，同意开展注射 | | | | | 用 ZG005 与盐酸吉卡昔替尼片联合治疗晚期实体瘤 ...

| --- | --- | --- | |------------|-----------------------------------|-------------------------------------------------------------------------| | | | | | 投资者关系 | □ | 特定对象调研 √分析师会议 | | 活动类别 | □ 媒体采访 □业绩说明会 | | | | □新闻发布会 □路演活动 | | | | □ 现场参观 √一对一沟通 | | | | □其他 | | | 参与单位 | | 南方基金、鹏华基金、中银基金、长城基金、红土基金、景顺长城基金、平安 | | 及人员 | | 基金、金鹰基金、国海富兰克林、嘉实基金、华安证券、国君证券、信达证 | | | | 券、野村东方证券、首创证券、广发证券、国信证券、万家基金、东吴基金、 | | | | 东方基金、东海基金、东证融汇资管、中加基金、中金资管、中银国际证券、 | | | | 保银、信达澳亚、华夏未来、华泰柏瑞、嘉实、太平基金、太平资产、平安养 | | | | 老保险、德邦基金、招商基金、摩根资产 ...

证券代码：688266 证券简称：泽璟制药 公告编号：2024-047 苏州泽璟生物制药股份有限公司 关于自愿披露重组人凝血酶纳入 2024 年 国家医保药品目录的公告 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： 2024 年 11 月 28 日，国家医疗保障局、人力资源和社会保障部公布了《国 家基本医疗保险、工伤保险和生育保险药品目录（2024 年）》（以下简称"国家 医保药品目录"），苏州泽璟生物制药股份有限公司（以下简称"公司"）自主研 发的重组人凝血酶通过国家医保谈判，被纳入国家医保药品目录。2024 年国家 医保药品目录将于 2025 年 1 月 1 日起执行。 本次重组人凝血酶被纳入国家医保药品目录将有利于产品的销售，对公司的 长期经营发展具有积极影响，预计短期内不会对经营业绩产生重大影响。敬请广 大投资者谨慎决策，注意防范投资风险。 现将相关情况公告如下： 二、药品相关情况 重组人凝血酶是基于公司复杂重组蛋白新药和抗体新药研发及产业化平台 开发的一种高度特异性人丝氨酸蛋白酶，是目前国内唯一 ...

证券代码：688266 证券简称：泽璟制药 公告编号：2024-046 苏州泽璟生物制药股份有限公司 关于召开 2024 年度第三季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： ● 投资者可于 2024 年 11 月 25 日（星期一）至 12 月 2 日（星期一）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 zelgen01@zelgen.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。 苏州泽璟生物制药股份有限公司（以下简称"公司"）已于 2024 年 10 月 26 日发布公司《2024 年第三季度报告》，为便于广大投资者更全面深入地了解公司 2024 年第三季度经营成果、财务状况，公司计划于 2024 年 12 月 3 日下午 15:00-16:00 举行 2024 年第三季度业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2024 年第三季度经营 成果及财务指标的具体 ...

Investment Rating - The investment rating for the company is "Accumulate" [2][4]. Core Views - The company is experiencing accelerated product volume and significantly reduced losses, with core pipelines entering a harvest phase [3][4]. - The early pipeline is steadily advancing, expected to catalyze a new growth cycle [3][4]. Financial Summary - The company achieved revenue of 384 million yuan in Q1-Q3 2024, representing a year-on-year increase of 36.16%. Q3 revenue reached 143 million yuan, up 130.67% year-on-year and 8.28% quarter-on-quarter, driven by the product Donafenib [4]. - The net loss for Q1-Q3 2024 was 98 million yuan, a reduction of 104 million yuan year-on-year, indicating a trend towards reduced losses [4]. - The EPS forecasts for 2024-2026 are -0.63, 0.30, and 1.49 yuan, respectively, with a target price maintained at 75.02 yuan, corresponding to a 29X PS for 2024 [4]. Product Pipeline - The company's core product, recombinant human thrombin, was approved for market launch in January 2024, characterized by high purity and hemostatic activity [4]. - The JAK inhibitor, Jikaxitinib, is currently under review for market approval, with multiple indications for autoimmune diseases progressing [4]. - The early pipeline includes ZG006, a trispecific antibody targeting DLL3, showing promising efficacy in early clinical trials [4]. Market Data - The current stock price is 62.94 yuan, with a target price of 75.02 yuan [2]. - The market capitalization is 16.661 billion yuan, with a total share capital of 265 million shares [5]. Financial Projections - Revenue projections for 2024, 2025, and 2026 are 699 million, 1.313 billion, and 2.257 billion yuan, respectively, with significant growth rates anticipated [9]. - The net profit (attributable to the parent company) is projected to improve from a loss of 168 million yuan in 2024 to a profit of 395 million yuan in 2026 [9]. Operational Efficiency - The company has improved operational efficiency, with a notable decrease in sales expense ratio and a decrease in R&D expense ratio due to the completion of several clinical registrations [4].

证券代码：688266 证券简称：泽璟制药 苏州泽璟生物制药股份有限公司 投资者关系活动记录表 编号：2024-009 | --- | --- | --- | |------------|------------------------|----------------------------------------------------------------------| | | | | | 投资者关系 | □ | 特定对象调研 √分析师会议 | | 活动类别 | □ 媒体采访 √业绩说明会 | | | | □新闻发布会 □路演活动 | | | | □ 现场参观 □一对一沟通 | | | | □其他 | | | 参与单位 | | 广发证券、浙商证券、信达证券、华安证券、华西证券、开源证券、东吴证 | | 及人员 | | 券、华源证券、天风证券、国盛证券、海通证券、中信证券、中信建投、兴业 | | | | 证券、财通证券、上海盘京投资、新华基金、中信保诚基金、砥俊资产、德邦 | | | | 基金、中航基金、深圳市恒盈富达资产、西藏源乘投资、浙江银万斯特投 | | | | 资、上海银倍投资、摩根基金、杭州优 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [2] Core Views - The company has shown steady revenue growth and is actively advancing innovative products [2] - Significant improvements in efficiency and quality have been achieved, with a focus on core pipeline development [2] - The company is expected to enter a new growth phase with upcoming innovative products [3] Financial Performance Summary - For the first three quarters of 2024, the company achieved revenue of 384 million yuan, a year-on-year increase of 36.16%, with a net profit attributable to shareholders of -98 million yuan, indicating a narrowing loss [1] - In the third quarter of 2024 alone, revenue reached 143 million yuan, a year-on-year increase of 130.67%, with a net profit attributable to shareholders of -31 million yuan, also showing a narrowing loss [1] - Research and development expenses for the first three quarters of 2024 were 273 million yuan, down 18.62% year-on-year, while sales expenses increased by 10.15% to 190 million yuan [2] Future Growth Potential - The company has several innovative products in the pipeline, including Donafenib, which has entered 1,081 hospitals and is gradually expanding its market share [3] - Other products such as recombinant human thrombin and JAK inhibitors are in various stages of clinical trials and regulatory approval, indicating a robust pipeline [3][4] - Early data from innovative pipelines show promising results, providing a competitive advantage globally [4] Earnings Forecast - The company is projected to achieve total revenues of 548 million yuan, 1.15 billion yuan, and 1.96 billion yuan for 2024, 2025, and 2026, respectively, with year-on-year growth rates of 41.79%, 109.33%, and 70.60% [5] - The net profit attributable to shareholders is expected to be -121 million yuan in 2024, turning positive in 2025 with a profit of 76 million yuan, and reaching 368 million yuan in 2026 [5] - The current stock price corresponds to a price-to-earnings ratio (P/E) of 219.39 for 2025 and 44.98 for 2026, reflecting the anticipated growth [5]

好的 谢谢会议助理尊敬的投资者 大家上午好欢迎参加由广化政权组织的2024年紫禁之要的三级报的一级交流会我是分享交流的组织之一李安飞然后跟我一起在线的还有我们首席联合老师以及我们研究员袁权 本场交流呢我们非常荣幸的邀请到了公司的董事长董经理盛博副总经理化学执行副总裁吕博副总经理董事会秘书高总副总经理财务负责人黄总营销副总营销副总裁冰总欢迎几位领导那跟我 跟我一起主持的还有几位友商的老师我就不一一的介绍了接下来我们把时间交给吕博吕博有请好的谢谢尊敬的各位投资人我是浙江资料局编号下面我向大家报告一下公司近三季度的一些业绩及管线的进展以及业绩的相关的情况 我的汇报大概分四个部分,公司概创、核心产品研发策略跟商业策略。公司的基本情况可能大家都比较清楚,折卷资料是成立于2009年3月的一家创新资料公司,主要专注于肿瘤、出血及粘血疾病与炎症性疾病等等多个资料领域、多个创新产品的研发的一个信仰开发公司。 我们致力于研发和生产具有全民自主自治产权安全有效患者可负担的创新药物那到目前为止我们已经有14个主要的在营药品已经有4个药品包括多拉菲尼虫族人凝血酶已经上市两个药品杰卡西帕尼和虫族人畜甲状腺素等多项实验证处于上市申请阶段 ...

Investment Rating - Maintains a "Buy" rating for the company [1][2] Core Views - Q3 revenue showed steady sequential growth, with a year-on-year increase of 130.67% [1] - The company's revenue for Q1-3 2024 reached 3.84 billion yuan, a year-on-year increase of 36.16% [2] - Net profit attributable to the parent company in Q3 was -0.31 billion yuan, with a sequential growth of 8.28% [2] - The company is expected to achieve revenues of 6.06/11.00/18.95 billion yuan in 2024-2026, with year-on-year growth rates of 56.9%/81.4%/72.4% [2] - The current stock price corresponds to a PS ratio of 29.0/16.0/9.3 times for 2024-2026 [1] Product and Market Expansion - The company has actively promoted the entry of its product, Donafenib, into hospitals and pharmacies, covering 1,081 hospitals and 934 pharmacies by the end of June 2024 [3] - The recombinant human thrombin product has been authorized to Yuanda Life Sciences, with the company receiving an exclusive market promotion fee of 340 million yuan in H1 2024 [3] Pipeline Progress - The late-stage pipeline is progressing steadily, with the flagship product, Gicartinib, having submitted an NDA for myelofibrosis [4] - The Phase III clinical trial for severe alopecia areata has reached the 24-week primary efficacy endpoint, with NDA submission expected after 52-week data readout [4] - The Phase II clinical study for idiopathic pulmonary fibrosis has achieved positive results [4] - The early-stage pipeline, ZG006 (CD3×DLL3×DLL3 trispecific antibody), showed an ORR of 66.7% and a DCR of 88.9% in I/II phase clinical studies for advanced small cell lung cancer or neuroendocrine carcinoma [4] Financial Projections - Revenue for 2024-2026 is projected to be 606/1,100/1,895 million yuan, with year-on-year growth rates of 56.9%/81.4%/72.4% [5] - Net profit attributable to the parent company is expected to be -457/-279/-152 million yuan in 2024-2026, with a significant turnaround to 175 million yuan in 2026 [5] - Gross margin is expected to remain stable at 93.0% from 2024 to 2026 [5] - EPS is projected to be -0.57/0.01/0.66 yuan for 2024-2026 [5] Valuation Metrics - The current stock price corresponds to a PS ratio of 29.0/16.0/9.3 times for 2024-2026 [1] - The PB ratio is expected to be 11.9/11.8/10.6 times for 2024-2026 [5]