Investment Rating - The report maintains a "Buy" rating for the company [3] Core Insights - In 2023, the company achieved operating revenue of 2.002 billion yuan, a year-on-year increase of 3.97%, and a net profit attributable to shareholders of 178 million yuan, a year-on-year increase of 0.47%. However, the net profit after deducting non-recurring gains and losses decreased by 8.92% to 140 million yuan. The gross margin was 42.73%, down 1.55 percentage points year-on-year [1][14] - In Q1 2024, the company reported operating revenue of 468 million yuan, a year-on-year increase of 6.32%, and a net profit attributable to shareholders of 27 million yuan, a year-on-year increase of 21.40%. The gross margin for this quarter was 40.54%, down 0.66 percentage points year-on-year [1][14] - The company is focusing on multi-omics technology and expanding clinical sequencing services, with steady growth in sequencing platform services. The company has increased its overseas investments, establishing local laboratories in various countries, enhancing its global layout [1][15][17] Financial Summary - The company expects to achieve operating revenues of 2.327 billion, 2.719 billion, and 3.205 billion yuan for 2024, 2025, and 2026, respectively, with year-on-year growth rates of 16.2%, 16.8%, and 17.9%. The net profit attributable to shareholders is projected to be 208 million, 253 million, and 296 million yuan for the same years, with growth rates of 16.7%, 21.7%, and 16.9% [1][6] - The earnings per share (EPS) are expected to be 0.50 yuan, 0.61 yuan, and 0.71 yuan for 2024, 2025, and 2026, respectively, with corresponding price-to-earnings (PE) ratios of 30.4, 25.0, and 21.4 [1][6] Market and Operational Strategy - The company has made significant progress in its localization strategy, deploying local laboratories in the US, UK, Singapore, Germany, and Japan, which enhances service efficiency and stability globally. It serves over 7,300 clients, including top academic research institutions and pharmaceutical companies [1][17] - The company continues to invest in research and development, with R&D expenses of 124 million yuan in 2023, representing 6.20% of revenue. It has developed a comprehensive range of multi-omics products and is actively expanding clinical applications of gene sequencing technology [1][18]

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% relative to the industry index within the next six months [20]. Core Views - The company is advancing its global localization strategy, enhancing its regional service capabilities to provide more efficient and stable products and services to global clients [2]. - The company's revenue for 2023 is reported at 2,002 million yuan, reflecting a year-on-year growth of 4.0%, with projections for 2024-2026 showing significant growth rates of 12.4%, 15.3%, and 20.0% respectively [8]. - The company has introduced multiple new sequencing platforms, improving service capabilities and meeting the latest sequencing demands from customers [8]. Financial Summary - Revenue (in million yuan): - 2022: 1,926 - 2023: 2,002 - 2024E: 2,251 - 2025E: 2,595 - 2026E: 3,113 - Year-on-year growth rates: - 2022: 3.2% - 2023: 4.0% - 2024E: 12.4% - 2025E: 15.3% - 2026E: 20.0% [8]. - Net profit attributable to the parent company (in million yuan): - 2022: 177 - 2023: 178 - 2024E: 205 - 2025E: 240 - 2026E: 284 - Year-on-year growth rates for net profit: - 2022: -21.3% - 2023: 0.5% - 2024E: 15.2% - 2025E: 16.9% - 2026E: 18.6% [8]. Business Performance - The company's domestic business faced short-term pressure, while overseas operations showed robust growth, with revenue from mainland China at 1,012 million yuan, down 9.43% year-on-year, and revenue from Hong Kong, Macau, Taiwan, and overseas regions at 985 million yuan, up 22.06% year-on-year [8]. - The company is steadily implementing its global localization strategy, having established laboratories in various countries including China, the USA, the UK, Singapore, Germany, and Japan [8].

中信证券股份有限公司 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 2024 年 4 月 10 日及 4 月 25 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，查阅公司 2023 年度内部控制自我评价报告、2023 年度内部控制鉴证报告等文件； （3）查阅公司与控股股东、实际控制人及其关联方的资金往来明细及相关内部 审议文件、信息披露文件，查阅会计师出具的 2023 年度审计报告、关于 2023 年度 控股股东及其他关联方占用发行人资金情况的专项报告； 关于北京诺禾致源科技股份有限公司 2023 年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 ...

2023年持续督导现场检查报告 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 上海证券交易所： 根据《上海证券交易所上市公司持续督导工作指引》等有关法律、法规的规 定，中信证券股份有限公司（以下简称"中信证券"、"保荐机构"）作为正在履行 北京诺禾致源科技股份有限公司（以下简称"诺禾致源"、"上市公司"、"公司"） 持续督导工作的保荐机构，对公司 2023 年（以下简称"本持续督导期间"）的规 范运作情况进行了现场检查，报告如下： 一、本次现场检查的基本情况 （一）保荐人 中信证券股份有限公司 （二）保荐代表人 赵陆胤、彭博 （三）现场检查人员 赵陆胤、彭博、汪宇麒 （四）现场检查时间 2024 年 4 月 10 日、2024 年 4 月 25 日 （五）现场检查内容 现场检查人员对本持续督导期内发行人公司治理和内部控制情况、信息披露 情况、公司的独立性以及与控股股东、实际控制人及其他关联方资金往来情况、 募集资金使用情况、关联交易、对外担保、重大对外投资情况、经营状况等方面 进行了现场检查，具体检查内容详见本报告"二、本次现场检查主要事项及意见"。 （六）现场检查手段： 本次现场检查的手段主要包括 ...

证券代码：688315 证券简称：诺禾致源 公告编号：2024-028 北京诺禾致源科技股份有限公司 关于以集中竞价交易方式回购公司股份的进展公告 根据《上市公司股份回购规则》《上海证券交易所上市公司自律监管指引第 7 号——回购股份》等相关规定，公司在回购股份期间，应当在每个月的前 3 个交易 日内公告截至上月末的回购进展情况。 2024 年 4 月，公司通过上海证券交易所交易系统以集中竞价交易方式已累计 回购公司股份 4,628,293 股，占公司总股本的比例为 1.11%，回购成交的最高价为 13.99 元/股，最低价为 12.56 元/股，支付的资金总额为人民币 60,018,906.63 元（不 含印花税、交易佣金等交易费用）。 截止 2024 年 4 月 30 日，公司通过上海证券交易所交易系统以集中竞价交易方 式已累计回购公司股份 7,853,344 股，占公司总股本的比例为 1.89%，回购成交的 最高价为 15.86 元/股，最低价为 12.56 元/股，支付的资金总额为人民币 107,766,414.08 元（不含印花税、交易佣金等交易费用）。 本次回购股份符合相关法律法规、规范性文件的规 ...

北京市中伦律师事务所 关于北京诺禾致源科技股份有限公司 2023 年年度股东大会的 法律意见书 2024 年 5 月 北京 • 上海 • 深圳 • 广州 • 武汉 • 成都 • 重庆 • 青岛 • 杭州 • 南京 • 海口 • 东京 • 香港 • 伦敦 • 纽约 • 洛杉矶 • 旧金山 • 阿拉木图 Beijing • Shanghai • Shenzhen • Guangzhou • Wuhan • Chengdu • Chongqing • Qingdao • Hangzhou • Nanjing • Haikou • Tokyo • Hong Kong • London • New York • Los Angeles • San Francisco • Almaty 法律意见书 北京市朝阳区金和东路 20 号院正大中心 3 号南塔 22-31 层 邮编：100020 22-31/F, South Tower of CP Center, 20 Jin He East Avenue, Chaoyang District, Beijing l00020, P.R. China 电话/Tel : +86 10 ...

证券代码：688315 证券简称：诺禾致源 公告编号：2024-027 北京诺禾致源科技股份有限公司 2023 年年度股东大会决议公告 本公司董事会及全体董事保证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： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东大会召开的时间：2024 年 5 月 6 日 （二） 股东大会召开的地点：北京市朝阳区酒仙桥北路甲 10 号院 301 号楼 101 栋诺禾致源大厦一楼多功能厅 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 6 | | --- | --- | | 普通股股东人数 | 6 | | 2、出席会议的股东所持有的表决权数量 | 288,055,837 | | 普通股股东所持有表决权数量 | 288,055,837 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的 | 70.5420 | | 比例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例 | ...

Investment Rating - The investment rating for the company is "Outperform the Market" and is maintained [1]. Core Views - The company reported a revenue of 636 million yuan in the life sciences basic research service segment for 2023, a year-on-year decrease of 0.94%. The medical research and technology service segment saw revenue of 269 million yuan, an increase of 6.60% year-on-year. The sequencing platform service segment generated revenue of 953 million yuan, reflecting a year-on-year growth of 14.05%. However, sales of 6 gene kits dropped to 178 sets, a decrease of 53.52% [3][25]. - The company's gross margin for 2023 was 42.73%, down by 1.15 percentage points year-on-year, while the net profit margin was 9.15%, a decline of 0.28 percentage points [4][25]. - The company’s total revenue for 2023 was 2.002 billion yuan, representing a year-on-year growth of 3.97%, with a net profit of 178 million yuan, which is a slight increase of 0.47% year-on-year. The forecast for EPS for 2024-2026 is 0.52, 0.59, and 0.70 yuan respectively, with net profit growth rates projected at 20.6%, 14.2%, and 19.0% [10][25]. Financial Summary - The company’s revenue forecast for 2024 is 2.333 billion yuan, with expected growth rates of 16.5% in 2025 and 18.3% in 2026. The net profit is projected to reach 215 million yuan in 2024, with a growth rate of 20.6% [10][26]. - The gross margin is expected to be 43.0% in 2024, slightly improving from 42.7% in 2023, while the net asset return is projected to increase from 7.2% in 2023 to 9.4% in 2026 [10][26]. - The company is positioned in the leading segment of the gene sequencing industry, with a reasonable valuation range of 12.90 to 15.48 yuan based on a PE ratio of 25-30 times for 2024 [25].

证券代码：688315 证券简称：诺禾致源 北京诺禾致源科技股份有限公司 2023 年年度股东大会会议资料 2024 年 5 月 目录 | 北京诺禾致源科技股份有限公司 | | 2023 年年度股东大会会议须知·····································1 | | --- | --- | --- | | 北京诺禾致源科技股份有限公司 | | 2023 年年度股东大会会议议程·····································3 | | 议案一：《关于公司 2023 | | 年年度董事会工作报告的议案》·············································5 | | 议案二：《关于公司 2023 | | 年年度独立董事述职报告的议案》·········································6 | | 议案三：《关于公司 2023 | | 年年度监事会工作报告的议案》·············································7 | | 议案四：《关于公司 2023 | ...

司向特定对象发行股票限售股上市流通公告的核查意见 根据《证券发行上市保荐业务管理办法》《上海证券交易所股票上市规则》 《上海证券交易所上市公司持续督导工作指引》《上海证券交易所科创板股票上 市规则》等有关法律法规及规范性文件的规定，作为北京诺禾致源科技股份有限 公司（以下简称"诺禾致源"、"公司"）2022 年向特定对象发行股票并上市的保荐 机构，中信证券股份有限公司（以下简称"保荐机构"、"中信证券"）对诺禾致源 向特定对象发行股票的限售股上市流通事项进行了核查，核查情况如下： 一、向特定对象发行股票情况及本次上市流通的限售股类型 经中国证券监督管理委员会《关于同意北京诺禾致源科技股份有限公司向特 定对象发行股票注册的批复》（证监许可﹝2022﹞2813 号）核准，诺禾致源获准 向特定对象发行人民币普通股（A 股）事项，公司本次发行新增 16,000,000 股股 份，于 2023 年 10 月 24 日在中国证券登记结算有限责任公司上海分公司办理完 毕股份登记手续。公司本次向特定对象发行前总股本为 400,200,000 股，向特定 对象发行后总股本为 416,200,000 股，对应限售股数量 16,0 ...