Core Points - The announcement details the resignation of non-independent director Wang Qifeng and his subsequent election as an employee representative director [1][4] - The company held its second employee representative meeting on September 1, 2025, where Wang Qifeng was elected to the fourth board of directors [1][5] - The board also convened its third meeting on the same day to elect members for the strategic committee and the compensation and assessment committee [2][5] Director Resignation - Wang Qifeng resigned from his position as a non-independent director on September 1, 2025, due to adjustments in the company's governance structure [1][3] - His resignation does not affect the minimum number of board members required by law, and it will not impact the company's normal operations [3][4] Employee Director Election - Following Wang Qifeng's resignation, he was elected as an employee director during the employee representative meeting, with his term aligning with the fourth board's term [1][5] - The election ensures that the number of employee representatives on the board does not exceed half of the total board members, complying with relevant regulations [5] Board Committee Adjustments - The third meeting of the fourth board resulted in the election of members for the strategic committee and the compensation and assessment committee [2][5] - The strategic committee is composed of Li Ruiqiang, Wang Qifeng, and Gan Quan, while the compensation and assessment committee includes Wang Chunfei, Wang Tianfan, and Wang Qifeng [5]

证券代码：688315 证券简称：诺禾致源 公告编号：2025-036 北京诺禾致源科技股份有限公司 关于公司非独立董事离任暨选举职工董事 及调整第四届董事会专门委员会委员的公告 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： 北京诺禾致源科技股份有限公司（以下简称"公司"）董事会于近日收到公 司非独立董事王其锋先生的书面辞职报告。因公司治理结构的调整，王其锋先生 申请辞去公司董事职务及董事会下设专门委员会相应职务。辞去上述职务后，王 其锋先生仍在公司任职。根据《中华人民共和国公司法》《公司章程》的有关规 定，王其锋先生的辞职不会导致公司董事会成员低于法定最低人数，其辞职报告 自送达董事会时生效。 | | | (二) 离任对公司的影响 公司于 2025 年 9 月 1 日召开了 2025 年第二次职工代表大会，选举王其锋先 生担任公司第四届董事会职工代表董事，任期与公司 2024 年年度股东大会选举 产生的第四届董事会董事任期一致。 公司于 2025 年 9 月 1 日召开了第四届董事会第三次会议，选举产生 ...

证券代码：688315 证券简称：诺禾致源 公告编号：2025-037 北京诺禾致源科技股份有限公司 2025年第一次临时股东大会决议公告 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 （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 | 63 | | --- | --- | | 普通股股东人数 | 63 | | 2、出席会议的股东所持有的表决权数量 | 218,106,509 | | 普通股股东所持有表决权数量 | 218,106,509 | | 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比 | 53.8457 | | 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（%） | 53.8457 | （四） 表决方式是否符合《公司法》及公司章程的规定，大会主持情况等。 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：2025 年 9 月 1 日 （二） 股东 ...

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 2025 年第一次临时股东大会的 法律意见书 2025 年 9 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 2025 年第一次临时股东大会的法律意见书 致：北京诺禾致源科技股份有限公司 北京市中伦律师事务所（以下简称"本所"）接受北京诺禾致源科技股份有 限公司（以下简称"公司"）委托，指派本所律师对公司 2025 年第一次临时股 东大会（以下简称"本次股东大会"）的合法性进行见证并出具法律意见。 本法律意见书根据《中华人民共和 ...

Core Viewpoint - On August 26, 2023, Nuohe Zhiyuan experienced a decline of 1.58% in stock price, with a trading volume of 92.87 million yuan, indicating a potential shift in investor sentiment and market dynamics [1]. Financing Summary - On the same day, Nuohe Zhiyuan had a financing buy-in amount of 13.92 million yuan and a financing repayment of 18.50 million yuan, resulting in a net financing outflow of 4.59 million yuan [1]. - As of August 26, the total financing and securities lending balance for Nuohe Zhiyuan was 150 million yuan, with the financing balance at 149 million yuan, accounting for 2.21% of the circulating market value, which is above the 90th percentile of the past year [1]. - The securities lending aspect showed no shares were repaid or sold on that day, with a remaining securities lending volume of 11,700 shares and a balance of 189,700 yuan, indicating a low level compared to the 40th percentile of the past year [1]. Business Performance Summary - As of June 30, 2023, Nuohe Zhiyuan reported a total of 9,802 shareholders, an increase of 2.18% from the previous period, while the average circulating shares per person decreased by 2.13% to 42,460 shares [2]. - For the first half of 2023, Nuohe Zhiyuan achieved an operating income of 1.04 billion yuan, representing a year-on-year growth of 4.36%, and a net profit attributable to shareholders of 78.73 million yuan, which is a 1.03% increase year-on-year [2]. Dividend and Shareholding Summary - Since its A-share listing, Nuohe Zhiyuan has distributed a total of 82.47 million yuan in dividends, with 58.46 million yuan distributed over the past three years [3]. - As of June 30, 2023, among the top ten circulating shareholders, Hong Kong Central Clearing Limited ranked as the fifth largest shareholder with 5.69 million shares, an increase of 2.71 million shares from the previous period, while Hongde Advantage Leading Mixed Fund entered as the ninth largest shareholder with 1.61 million shares [3].

Investment Rating - The investment rating for the company is not explicitly stated in the provided documents, but the report indicates a positive outlook on the company's performance and growth potential. Core Viewpoints - The company achieved a revenue of 1.04 billion yuan in the first half of 2025, representing a year-over-year growth of 4.36%. The net profit attributable to the parent company was 78.73 million yuan, with a slight increase of 1.03% year-over-year. However, the non-recurring net profit decreased by 4.52% year-over-year to 62.93 million yuan [1][2]. - The company is experiencing stable growth across its three main business segments, with significant contributions from overseas markets, which accounted for 51.28% of total revenue in the first half of 2025, growing by 6.48% year-over-year [2]. - The company is investing in automation and intelligence to enhance its competitive edge, with increased sales and R&D expenses aimed at product upgrades and market expansion [2]. Financial Performance Summary - The company’s total revenue for 2025 is projected to be 2.314 billion yuan, with a year-over-year growth rate of 9.6%. The net profit attributable to the parent company is expected to reach 221 million yuan, reflecting a growth of 12.3% [3]. - The gross profit margin is forecasted to be around 42.5% for 2025, with a return on equity (ROE) of 8.1% [3]. - Earnings per share (EPS) is projected to be 0.53 yuan for 2025, with a price-to-earnings (P/E) ratio of 30.24 times based on the closing price on August 21, 2025 [3]. Business Segment Performance - The sequencing platform service revenue reached 520 million yuan in the first half of 2025, growing by 6.77% year-over-year. The life sciences basic research service revenue was 354 million yuan, up by 3.19%, while the medical research and technology service revenue was 139 million yuan, with a modest growth of 0.39% [2]. - The company has established a global technical service network with laboratory deployments in key international markets, which is expected to drive future growth as global economic conditions improve [2].

Core Insights - The company, Beijing Novogene Co., Ltd., closed at 16.03 yuan on August 20, with a decline of 1.54%, resulting in a rolling PE ratio of 33.77 times and a total market capitalization of 6.672 billion yuan [1] - In the medical services industry, the average PE ratio is 49.21 times, with a median of 65.65 times, placing Novogene at the 20th position in the industry ranking [1] - As of the 2025 semi-annual report, 12 institutions held shares in Novogene, with a total of 88.8692 million shares valued at 1.255 billion yuan [1] Company Overview - Novogene specializes in providing multi-level research technology services and solutions for life sciences, medical, and clinical application research, along with developing innovative gene testing medical devices [1] - The main products include life science basic research services, medical research and technology services, library sequencing platform services, and others [1] - As of June 30, 2025, Novogene has published or been cited in over 34,574 SCI articles, with a cumulative impact factor of 227,372.12, and holds 82 invention patents and 547 software copyrights [1] Financial Performance - For the first half of 2025, the company reported a revenue of 1.04 billion yuan, representing a year-on-year increase of 4.36%, and a net profit of 78.7296 million yuan, with a year-on-year growth of 1.03% [1] - The sales gross margin stood at 40.80% [1]

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 2025 年第一次临时股东大会会议资料 2025 年 8 月 目录 | 北京诺禾致源科技股份有限公司 2025 年第一次临时股东大会会议须知 3 | | --- | | 北京诺禾致源科技股份有限公司 2025 年第一次临时股东大会会议议程 5 | | 议案一：《关于取消监事会暨修订<公司章程>的议案》 7 | | 议案二：《关于修订及制定部分公司治理制度的议案》 8 | 北京诺禾致源科技股份有限公司 2025 年第一次临时股东大会会议须知 为了维护全体股东的合法权益，确保股东大会的正常秩序和议事效率，保证 大会的顺利进行，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》、《上市公司股东大会规则》以及《北京诺禾致源科 技股份有限公司章程》（以下简称"《公司章程》"）、《北京诺禾致源科技股份 有限公司股东大会议事规则》等相关规定，北京诺禾致源科技股份有限公司（以 下简称"公司"）特制定本次股东大会会议须知： 一、为确认出席大会的股东或其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 ...

Core Viewpoint - The financial performance of Nuohua Zhiyuan (688315) for the first half of 2025 shows modest growth in revenue and net profit, but a decline in key profitability metrics, indicating potential challenges ahead [1][2]. Financial Performance Summary - Total revenue for the first half of 2025 reached 1.04 billion yuan, a year-on-year increase of 4.36% compared to 2024 [1]. - Net profit attributable to shareholders was 78.73 million yuan, up 1.03% year-on-year [1]. - In Q2 2025, total revenue was 538 million yuan, reflecting a 1.87% increase year-on-year, while net profit decreased by 11.38% to 44.85 million yuan [1]. - The gross margin was 40.8%, down 2.19% year-on-year, and the net margin was 7.84%, down 4.95% year-on-year [1]. - The company reported a significant accounts receivable level, with accounts receivable amounting to 349.15% of the latest annual net profit [4]. Cost and Expense Analysis - Total sales, management, and financial expenses amounted to 268 million yuan, accounting for 25.81% of revenue, a decrease of 4.88% year-on-year [1]. - Sales expenses increased by 6.53% due to higher marketing investments [3]. - Management expenses decreased by 10.08% due to reduced personnel costs [3]. - Financial expenses saw a significant decline of 81.22%, attributed to favorable foreign exchange movements [3]. Asset and Liability Changes - Cash and cash equivalents increased by 46.29% to 470 million yuan [1]. - Accounts receivable decreased by 3.66% to 687 million yuan [1]. - The company’s interest-bearing debt rose by 8.37% to 29.26 million yuan [1]. - Inventory levels increased by 55.3% due to strategic stockpiling of raw materials in response to external market conditions [2]. Investment and Cash Flow - Operating cash flow per share was -0.41 yuan, a decline of 107.14% year-on-year, indicating increased cash outflows for raw material purchases [1][3]. - Investment cash flow increased by 284.33% due to higher redemptions of financial assets [3]. - Financing cash flow rose by 81.93%, influenced by stock buybacks in the previous year [3]. Market Position and Future Outlook - The company’s return on invested capital (ROIC) was 7.85%, indicating average capital returns [3]. - Analysts project a net profit of 221 million yuan for 2025, with an average earnings per share of 0.53 yuan [4]. - The business model relies heavily on marketing-driven performance, necessitating close monitoring of accounts receivable [4].

Investment Rating - The report maintains a "Buy" rating for the company [6] Core Views - The company demonstrated resilient operations in Q2 2025, with revenue growth of 1.87% year-on-year, while net profit decreased by 11.38% due to increased sales and R&D expense ratios [2][4] - The company is committed to advancing its overseas localization strategy, achieving steady growth in revenue from Hong Kong, Macau, Taiwan, and overseas markets [2][3] - The introduction of the Falcon III flexible intelligent delivery system has significantly improved production efficiency, with a 25% increase in daily sample processing capacity compared to Falcon II [4] Financial Performance - In H1 2025, the company reported revenue of 1.04 billion yuan, a year-on-year increase of 4.36%, and a net profit of 78.73 million yuan, up 1.03% [1] - The gross profit margin for Q2 2025 was 42.03%, a decrease of 0.72 percentage points year-on-year, while the sales expense ratio increased by 1.73 percentage points to 20.32% [2] - The company achieved sequencing platform service revenue of 520 million yuan in H1 2025, with a gross margin of 31.66% [2] Business Segments - The company generated 520 million yuan from sequencing platform services, 354 million yuan from life sciences basic research services, and 139 million yuan from medical research and technology services in H1 2025 [2] - The revenue from the mainland reached 507 million yuan, a year-on-year increase of 2.22%, while revenue from Hong Kong, Macau, Taiwan, and overseas markets was 533 million yuan, up 6.48% [3] Future Outlook - The company forecasts revenues of 2.308 billion yuan, 2.571 billion yuan, and 2.871 billion yuan for 2025, 2026, and 2027, respectively, with corresponding net profits of 221 million yuan, 262 million yuan, and 306 million yuan [4] - The expected growth rates for revenue are 9.3%, 11.4%, and 11.7% for the years 2025, 2026, and 2027, respectively [4]