证券代码：688315 证券简称：诺禾致源 公告编号：2025-038 单位：万元 | 序号 | 项目 | 年前三季度计提金额 2025 | 备注 | | --- | --- | --- | --- | | 1 | 信用减值损失 | 2,435.86 | 应收账款、其他应收款的减值 | | 2 | 资产减值损失 | 17.34 | 存货的减值 | | | 合计 | 2,453.21 | | 注，以上明细与合计的差异系万元小数位数四舍五入影响。 北京诺禾致源科技股份有限公司 关于 2025 年前三季度计提资产减值准备的公告 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。 北京诺禾致源科技股份有限公司（以下简称"公司"）于 2025 年 10 月 23 日 召开第四届董事会第四次会议，审议通过了《关于计提资产减值准备的议案》。现 将相关事项公告如下： 一、计提资产减值准备情况的概述 根据《企业会计准则》以及公司的会计政策、会计估计的相关规定，为客观、 公允地反映公司截至 2025 年 9 月 30 日的财务状况及 2025 年 ...

Core Viewpoint - The company reported a revenue of 1.581 billion yuan for the first three quarters, reflecting a year-on-year growth of 4.05%, while net profit attributable to shareholders decreased by 16.05% to 113 million yuan [1] Financial Performance - Revenue for the first three quarters reached 1.581 billion yuan, marking a 4.05% increase compared to the previous year [1] - Net profit attributable to shareholders was 113 million yuan, showing a decline of 16.05% year-on-year [1] - The net profit excluding non-recurring gains and losses was 90.0163 million yuan, down 19.35% year-on-year [1] - Basic earnings per share stood at 0.28 yuan [1]

Financial Performance - The company's operating revenue for Q3 2025 was ¥540,653,209.65, representing a year-on-year increase of 3.47%[4] - The total profit for the period decreased by 38.84% to ¥38,892,008.02 compared to the same period last year[4] - The net profit attributable to shareholders was ¥34,149,037.35, down 39.59% year-on-year[4] - Total operating revenue for the first three quarters of 2025 reached CNY 1,580,735,271.70, an increase of 4.5% compared to CNY 1,519,180,271.23 in the same period of 2024[19] - Net profit for the first three quarters of 2025 was CNY 115,567,790.97, a decrease of 17.3% from CNY 139,804,020.41 in the previous year[20] - Basic earnings per share for the period was CNY 0.28, down from CNY 0.33 in the previous year, indicating a decline of 15.2%[21] - The company reported a total comprehensive income of CNY 129,385,164.55, compared to CNY 139,354,190.77 in the same period last year, a decrease of 7.2%[21] - The total profit for the first three quarters of 2025 was ¥25,252,475.01, down 72.3% from ¥91,290,270.15 in 2024[29] Research and Development - Research and development expenses totaled ¥56,100,777.47, an increase of 73.83% compared to the same period last year, accounting for 10.38% of operating revenue[5] - Research and development expenses rose significantly to CNY 113,087,839.19, compared to CNY 77,094,646.26 in the same period last year, reflecting a 46.6% increase[19] - Research and development expenses increased to ¥76,124,810.62 in 2025, up 47.3% from ¥51,675,155.49 in 2024[28] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date was -¥86,861,093.82, a decrease of 323.55% compared to the previous year[4] - Cash inflow from operating activities for the first three quarters of 2025 was CNY 1,606,830,249.31, an increase of 8.3% compared to CNY 1,483,240,925.55 in the same period of 2024[23] - Net cash flow from operating activities for the first three quarters of 2025 was negative CNY 86,861,093.82, compared to a positive CNY 38,855,244.60 in the first three quarters of 2024[24] - Cash and cash equivalents at the end of September 2025 amounted to CNY 492,450,859.45, up from CNY 353,516,728.48 at the end of December 2024[25] - The company reported a net cash outflow from operating activities of ¥84,007,554.26 in 2025, compared to a net outflow of ¥97,968,148.17 in 2024[32] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,708,220,428.20, reflecting a 1.96% increase from the end of the previous year[5] - The company's total liabilities decreased to CNY 1,086,014,558.38 from CNY 1,123,904,358.20, a reduction of approximately 3.4%[17] - The total equity attributable to shareholders increased to CNY 2,595,427,798.61, up from CNY 2,489,835,892.67, representing a growth of 4.2%[17] - The total current assets rose to RMB 2,713,664,166.31, compared to RMB 2,539,979,047.48, marking an increase of approximately 6.8%[15] - The total non-current assets decreased to RMB 994,556,261.89 from RMB 1,096,998,942.59, indicating a decline of approximately 9.3%[15] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,680[10] - The largest shareholder, Li Ruiqiang, holds 51.61% of the shares, totaling 214,810,148 shares[10] - There are no known relationships or concerted actions among the top shareholders, except for the common partners in certain investment management firms[12] Strategic Initiatives - The company plans to continue increasing its investment in marketing and R&D to drive future growth despite the current profit decline[8] - The company continues to focus on market expansion and new product development as part of its strategic initiatives[22] - The company has not disclosed any significant new product developments or market expansion strategies during the reporting period[12] Investment Activities - Cash inflow from investment activities in the first three quarters of 2025 was CNY 4,181,405,530.28, significantly higher than CNY 1,755,896,474.91 in the same period of 2024[24] - Investment activities generated a net cash inflow of ¥113,715,619.77 in 2025, contrasting with a net outflow of ¥52,490,344.33 in 2024[32] - The company reported a significant increase in cash received from investment recoveries, totaling CNY 4,154,037,791.12 in the first three quarters of 2025, compared to CNY 1,728,418,905.84 in the same period of 2024[24]

Core Viewpoint - The company announced a meeting on October 23, 2025, to review and approve the proposal for asset impairment provision, reflecting a cautious approach to asset evaluation as of September 30, 2025 [1] Financial Impact - The total amount of impairment provision recognized is approximately 24.53 million yuan, which includes credit impairment losses of 24.36 million yuan and asset impairment losses of 0.17 million yuan [1] - This impairment provision will reduce the company's pre-tax profit by 24.53 million yuan for the first three quarters of 2025, consequently decreasing the owner's equity at the end of the reporting period [1] - The data presented is unaudited and will be confirmed by annual audit [1] Governance - Both the board of directors and the audit committee have agreed to this impairment provision [1]

Core Viewpoint - The stock price of Beijing Novogene Technology Co., Ltd. has shown fluctuations, with a year-to-date increase of 16.62% but a recent decline over various trading periods, indicating potential volatility in the market [1]. Company Overview - Beijing Novogene Technology Co., Ltd. was established on March 15, 2011, and went public on April 13, 2021. The company is located in Chaoyang District, Beijing, and specializes in providing gene testing and bioinformatics analysis services to research institutions, universities, medical institutions, and pharmaceutical companies [1]. - The company's revenue composition includes: sequencing platform services (50.03%), basic life science research services (34.05%), medical research and technical services (13.37%), and other services (2.54%) [1]. Financial Performance - As of June 30, 2025, Novogene reported a revenue of 1.04 billion yuan, representing a year-on-year growth of 4.36%. The net profit attributable to shareholders was 78.73 million yuan, with a slight increase of 1.03% year-on-year [2]. - The company has distributed a total of 82.47 million yuan in dividends since its A-share listing, with 58.46 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders increased by 2.18% to 9,802, while the average number of circulating shares per person decreased by 2.13% to 42,460 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the fifth largest, holding 5.69 million shares, an increase of 2.71 million shares from the previous period. Hongde Advantage Leading Mixed Fund is the ninth largest shareholder, holding 1.61 million shares as a new entrant [3].

Market Overview - The Shanghai Composite Index closed at 3869.25 points, with a change of 0.10% [1] - The total trading volume of A-shares reached 1,280.495 billion yuan [1] Technical Analysis - A total of 175 A-shares experienced a death cross between the 5-day and 10-day moving averages [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Yuanjie Technology: 5-day MA down by 2.50% from the 10-day MA [1] - Shanshan Shares: 5-day MA down by 2.32% from the 10-day MA [1] - Zijian Electronics: 5-day MA down by 2.09% from the 10-day MA [1] Individual Stock Performance - Yuanjie Technology (688498): Increased by 3.59% with a trading turnover of 2.90% [1] - Shanshan Shares (600884): Increased by 0.22% with a trading turnover of 3.13% [1] - Zijian Electronics (301121): Decreased by 0.60% with a trading turnover of 3.19% [1] - Other notable stocks include: - WuXi AppTec (603259): Increased by 2.21% [1] - Fabon (300925): Increased by 1.67% [1] Summary of Stocks with Death Cross - Stocks with a death cross and their respective metrics include: - Yuanjie Technology: 5-day MA at 374.57 yuan, 10-day MA at 384.17 yuan [1] - Shanshan Shares: 5-day MA at 14.17 yuan, 10-day MA at 14.51 yuan [1] - Zijian Electronics: 5-day MA at 48.72 yuan, 10-day MA at 49.76 yuan [1] - The latest prices of these stocks are below their 10-day moving averages, indicating potential bearish trends [1]

Core Points - The Shanghai Composite Index is at 3876.54 points with a change of 0.29%, and the total trading volume of A-shares is 961.216 billion yuan [1] - A total of 158 A-shares have seen their 5-day moving average cross below the 10-day moving average, indicating potential bearish trends [1] Group 1: Stocks with Significant Moving Average Crosses - Yuanjie Technology (688498) has a 5-day moving average of 374.30 yuan, which is 2.53% lower than its 10-day moving average of 384.03 yuan, with a current price of 357.58 yuan, down 6.89% from the 10-day average [1] - Shanshan Co., Ltd. (600884) shows a 5-day moving average of 14.14 yuan, down 2.43% from its 10-day moving average of 14.49 yuan, with a current price of 13.29 yuan, down 8.28% from the 10-day average [1] - ZhiJian Electronics (301121) has a 5-day moving average of 48.75 yuan, which is 2.05% lower than its 10-day moving average of 49.78 yuan, with a current price of 46.54 yuan, down 6.50% from the 10-day average [1] Group 2: Other Notable Stocks - WuXi AppTec (603259) has a 5-day moving average of 102.27 yuan, which is 1.97% lower than its 10-day moving average of 104.33 yuan, with a current price of 98.12 yuan, down 5.95% from the 10-day average [1] - Fabon Information (300925) shows a 5-day moving average of 25.73 yuan, down 1.78% from its 10-day moving average of 26.20 yuan, with a current price of 25.13 yuan, down 4.07% from the 10-day average [1] - Loka (603829) has a 5-day moving average of 21.29 yuan, which is 1.73% lower than its 10-day moving average of 21.67 yuan, with a current price of 20.07 yuan, down 7.37% from the 10-day average [1]

Core Insights - The proteomics research service industry in China is experiencing significant growth, with the market size projected to increase from 437 million yuan in 2019 to 1.822 billion yuan in 2024, and expected to reach 2.26 billion yuan by 2025, indicating a robust expansion trend [1][4][12] Industry Definition and Process - Proteomics is a biological science that studies the composition and changes of proteins in cells, tissues, or organisms. The main processes of proteomics analysis include protein extraction and purification, enzymatic digestion into smaller peptides, identification and quantification using mass spectrometry, and bioinformatics analysis [2][4] Industry Development Status - The application potential of proteomics technology spans basic scientific research, clinical translation, clinical diagnosis, and new drug development. The rapid growth in national investment in life sciences, basic medicine, and agricultural sciences has led to an increase in the types of technologies, customer types, and the number of customers in the proteomics research service sector [4][12] Industry Value Chain - The proteomics market has developed a complete value chain that includes upstream suppliers of mass spectrometry instruments and reagents, midstream proteomics service companies, and downstream end customers such as research institutions, universities, and hospitals [6][12] Competitive Landscape - The market share in China's proteomics research service industry is relatively concentrated, with the top five companies (CR5) holding 58.8% of the market. The leading companies include Jingjie Biotechnology, Zhongke New Life, BGI, Novogene, and Ouyi Biomedical, with respective market shares of 25.0%, 13.9%, 11.2%, 5.1%, and 3.6% [7][8] Key Companies - BGI focuses on providing research services and precision medicine solutions through multi-omics big data technologies, including gene testing and mass spectrometry analysis. Their DIA protein quantification analysis employs data-independent acquisition methods [8][10] - Jingjie Biotechnology specializes in proteomics technology services and antibody reagent products, serving clients in life sciences research, drug development, and clinical diagnostics. In 2022, they reported 836 clients and revenue of 195 million yuan [10][11] Industry Development Trends - The proteomics research service sector is expected to continue its rapid growth, driven by advancements in mass spectrometry and bioinformatics. The market is still in a relatively early stage compared to Europe and the US, with increasing applications in life sciences and medicine [12] - The trend in proteomics analysis is moving towards requiring less sample volume and achieving faster identification of a greater variety of proteins, with high-depth, high-throughput, and high-sensitivity analyses being key goals [12]

Core Viewpoint - The biopharmaceutical sector in China is experiencing a positive trend in innovation and investment, with significant growth in the approval of innovative drugs and a recovery in market conditions [1][2] Industry Summary - As of September 8, 2025, the Shanghai Stock Exchange Sci-Tech Innovation Board Biopharmaceutical Index (000683) increased by 0.89%, with notable gains from companies such as United Imaging Healthcare (688271) up 11.48% and BGI Genomics (688114) up 9.35% [1] - The "National Drug Safety Publicity Week" launched on September 1 highlights the positive development of the pharmaceutical industry, with 210 innovative drugs approved in the past five years, indicating a sustained growth trend [1] - Currently, approximately 30% of the world's innovative drugs under research are from China, showcasing the country's significant role in global pharmaceutical innovation [1] Company Summary - The top ten weighted stocks in the Sci-Tech Innovation Board Biopharmaceutical Index as of August 29, 2025, include United Imaging Healthcare (688271), BeiGene (688235), and others, collectively accounting for 50.27% of the index [2] - The Sci-Tech Biopharmaceutical ETF (588250) closely tracks the performance of the Sci-Tech Innovation Board Biopharmaceutical Index, reflecting the overall performance of representative biopharmaceutical companies listed on the Sci-Tech Board [2]

中信证券股份有限公司 关于北京诺禾致源科技股份有限公司 2025 年半年度持续督导跟踪报告 中信证券股份有限公司（以下简称"中信证券"或"保荐机构"）作为北 京诺禾致源科技股份有限公司（以下简称"诺禾致源"或"公司"）向特定对 象发行股票并上市项目的保荐人，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》等相关规定，中信证券履行持续督导 职责，并出具本持续督导半年度跟踪报告。 一、持续督导工作概述 1、保荐人制定了持续督导工作制度，制定了相应的工作计划，明确了现场检查 的工作要求。 2、保荐人已与公司签订承销保荐协议，该协议已明确了双方在持续督导期间的 权利义务，并报上海证券交易所备案。 3、本持续督导期间，保荐人通过与公司的日常沟通、现场回访等方式开展持续 督导工作，并于 2025 年 8 月 8 日对公司进行了现场检查。 4、本持续督导期间，保荐人根据相关法规和规范性文件的要求履行持续督导职 责，具体内容包括： （1）查阅公司章程、三会议事规则等公司治理制度、三会会议材料； （2）查阅公司财务管理、会计核算和内部审计等内部控制制度； （3）查阅公司信息披露文件，查阅公司与关联方的 ...