FF304 翌日披露報表 (股份發行人 ── 已發行股本變動及/或股份購回) 表格類別： 股票 狀態： 新提交 公司名稱： 上海昊海生物科技股份有限公司（於中華人民共和國註冊成立的股份有限公司） 呈交日期： 2024年5月15日 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 A | | 於香港聯交所上市(註11) | 否 | | | 證券代號 (如於香港聯交所上市) | | 說明 | A股（上海證券交易所科創板，股份代號：688366） | | | | | 發行股份 | (註6及7) | 股份數目 | 已發行股份佔 有關股份發行前的 現有已發行股份數目 百分比 | 每股發行價 (註1及7) | 上一個營業日 的每股收市價 (註5) | 發行價較市值的折讓/ 溢價幅度(百分比) (註7) | | | | | (註4、6及7) | | | | | 於下列日期開始時的結存(註2) | 2024年5月14日 | 139,108,603 | | | | | | 1). 購回股份(或其他證券) ...

FF304 翌日披露報表 (股份發行人 ── 已發行股本變動及/或股份購回) 表格類別： 股票 狀態： 新提交 公司名稱： 上海昊海生物科技股份有限公司（於中華人民共和國註冊成立的股份有限公司） 呈交日期： 2024年5月16日 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 A | | | 於香港聯交所上市(註11) | 否 | | | 證券代號 (如於香港聯交所上市) | | 說明 | | A股（上海證券交易所科創板，股份代號：688366） | | | | | 發行股份 | (註6及7) | 股份數目 | 已發行股份佔 有關股份發行前的 現有已發行股份數目 百分比 | | 每股發行價 (註1及7) | 上一個營業日 的每股收市價 (註5) | 發行價較市值的折讓/ 溢價幅度(百分比) (註7) | | 於下列日期開始時的結存(註2) | 2024年5月15日 | 139,108,603 | (註4、6及7) | | | | | | 1). 購回股份(或其他證券) ...

FF304 翌日披露報表 (股份發行人 ── 已發行股本變動及/或股份購回) 表格類別： 股票 狀態： 新提交 公司名稱： 上海昊海生物科技股份有限公司（於中華人民共和國註冊成立的股份有限公司） 呈交日期： 2024年5月14日 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市(註11) | 否 | | | 證券代號 (如於香港聯交所上市) | | 說明 | | A股（上海證券交易所科創板，股份代號：688366） | | | | | 發行股份 | (註6及7) | 股份數目 | | 已發行股份佔 有關股份發行前的 現有已發行股份數目 百分比 | 每股發行價 (註1及7) | 上一個營業日 的每股收市價 (註5) | 發行價較市值的折讓/ 溢價幅度(百分比) (註7) | | 於下列日期開始時的結存(註2) | 2024年5月13日 | | 139,108,603 | (註4、6及7) | | | | | 1). 購回股份(或其他證券) ...

Investment Rating - The report assigns a cautious recommendation rating to the company, indicating a potential upside of 5% to 15% relative to the benchmark index [43]. Core Insights - The company has a strong competitive position in the high-end hyaluronic acid market, with its third-generation product "Hai Mei" experiencing significant growth. The medical aesthetics business is expected to maintain a rapid growth rate due to improved consumer spending and product competitiveness [55]. - The report highlights the rapid expansion of the non-surgical medical aesthetics market in China, with the market size reaching approximately 120.7 billion yuan in 2022, accounting for 53.2% of the total medical aesthetics market [5]. - The company has diversified its product offerings in the hyaluronic acid segment, with three main product lines: "Hai Wei," "Jiao Lan," and "Hai Mei," each targeting different market segments and consumer needs [8][10]. Summary by Sections 1. Medical Aesthetics Business - The company’s hyaluronic acid products have shown strong growth, with revenue growth rates of 91.5%, 61.5%, and 41.3% from 2021 to 2023. Future growth is projected at 35.9%, 32.1%, and 30.1% for 2024-2026 [55]. - The "Hai Mei" product is positioned as a high-end hyaluronic acid with unique features, gaining market recognition and expanding rapidly [16][18]. 2. Market Dynamics - The domestic market for hyaluronic acid fillers is growing rapidly, with a compound annual growth rate (CAGR) of 19.7% from 2017 to 2021. The market size reached 6.4 billion yuan in 2021 [5]. - The competitive landscape is shifting towards domestic brands, with significant market share gains due to technological advancements and cost-effectiveness [5]. 3. Product Development - The company has a robust pipeline of innovative products, including the fourth-generation organic cross-linked hyaluronic acid, which is currently in the late stages of registration review [30][53]. - The acquisition of Euroha Medical is expected to enhance the company's product matrix and boost revenue growth in the laser and radiofrequency device segments [20][24]. 4. Financial Projections - The company’s total revenue is projected to grow from 2.654 billion yuan in 2023 to 4.813 billion yuan by 2026, with a consistent increase in gross margin [39]. - The medical aesthetics segment is expected to maintain a high gross margin, projected at 78.5%, 79.1%, and 79.4% for 2024-2026 [55].

Investment Rating - The report maintains a "Buy" rating for the company, with an expected price increase of over 20% within the next six months [7]. Core Views - The company is expected to achieve revenues of 31.21 billion, 36.82 billion, and 44.33 billion yuan for the years 2024, 2025, and 2026 respectively, with net profits of 5.27 billion, 6.54 billion, and 7.81 billion yuan for the same years [2]. - The growth in sales of aesthetic medical products is a key reason for the upward revision of revenue and profit forecasts [2]. - The company has successfully advanced its R&D pipeline, with several new products entering the registration phase [10][15]. Financial Summary - The company's total assets are projected to grow from 7,105.50 million yuan in 2023 to 9,764.55 million yuan by 2026, indicating a steady increase in financial strength [4]. - The net profit is expected to rise from 416.12 million yuan in 2023 to 781.10 million yuan by 2026, reflecting a robust growth trajectory [24]. - The company's gross margin for Q1 2024 was reported at 69.21%, with a net profit margin of 14.32% [10]. Revenue and Profit Forecast - Revenue is forecasted to grow from 2,654.04 million yuan in 2023 to 4,432.56 million yuan by 2026, with a compound annual growth rate (CAGR) of approximately 20.38% [24]. - The expected earnings per share (EPS) are projected to increase from 2.47 yuan in 2023 to 4.63 yuan by 2026 [24]. Product Development and Market Position - The company has a strong focus on expanding its product line, particularly in the ophthalmology sector, with new products like artificial tears and high-oxygen scleral lenses entering the market [10][15]. - The aesthetic medical product segment continues to show strong sales momentum, contributing significantly to overall revenue growth [15].

证券代码：688366 证券简称：昊海生科 公告编号：2024-024 上海昊海生物科技股份有限公司 关于以集中竞价交易方式回购公司 A 股股份的进展公告 二、 回购股份的进展情况 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》的相关规定，公司在回购期间，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。现将公司回购A股股份进展情况公告如下： 2024年4月，公司未实施股份回购。截至2024年4月30日，公司通过集中竞价交 易方式已累计回购公司A股股份1,346,828股，占公司总股本168,707,203股的比例为 0.80%，最高成交价为113.50元/股，最低成交价为84.26元/股，成交总金额为人民币 140,085,716.25元（不含印花税、交易佣金等交易费用）。 上述回购股份符合法律法规的规定及公司既定的回购股份方案。 三、 其他事项 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： | 回购方案首次披露日 | 2023/8/25，由公司董事长侯 ...

第 1 頁 共 8 頁 v 1.0.2 備註： 2. 股份分類 普通股 股份類別 A 於香港聯交所上市 (註1) 否 證券代號 N/A 說明 A股（上海證券交易所科創板，股份代號：688366） 法定/註冊股份數目 面值 法定/註冊股本 上月底結存 139,108,603 RMB 1 RMB 139,108,603 增加 / 減少 (-) 0 RMB 0 本月底結存 139,108,603 RMB 1 RMB 139,108,603 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 | 06826 | 說明 | H股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 29,598,600 | RMB | | 1 RMB | | 29,598,600 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結 ...

Investment Rating - The investment rating for the company is "Buy" based on the expectation of continued growth in the hyaluronic acid segment and the potential approval of the fourth generation hyaluronic acid product [1]. Core Views - The company reported a revenue of 646 million yuan in Q1 2024, representing a year-on-year increase of 5.68%. The net profit attributable to the parent company was 97.54 million yuan, up 20.16% year-on-year, while the net profit excluding non-recurring items increased by 33.05% year-on-year [1]. - The hyaluronic acid segment is expected to maintain a strong growth trend, with a focus on the approval progress of the fourth generation hyaluronic acid. However, the ophthalmic segment may see a decline in revenue due to high base effects and increased competition [1]. - The company’s gross profit margin for Q1 2024 was 69.21%, a decrease of 2.28 percentage points year-on-year, primarily due to an increase in the proportion of OEM business for hyaluronic acid and the implementation of national procurement prices for some products [1]. - The company forecasts revenue growth from 2.99 billion yuan in 2024 to 4.02 billion yuan in 2026, with corresponding net profits expected to grow from 503 million yuan to 734 million yuan during the same period [2]. Financial Summary - The total revenue for 2022 was 2.13 billion yuan, increasing to 2.65 billion yuan in 2023, with an expected revenue of 2.99 billion yuan in 2024, reflecting a year-on-year growth rate of 12.7% [2]. - The net profit attributable to the parent company was 180 million yuan in 2022, significantly increasing to 416 million yuan in 2023, with projections of 503 million yuan in 2024, indicating a growth rate of 21.0% [2]. - The gross profit margin is projected to improve from 70.5% in 2023 to 71.2% in 2024, and the return on equity (ROE) is expected to rise from 7.4% in 2023 to 8.3% in 2024 [2].

Financial Performance - The company's operating revenue for Q1 2024 was approximately RMB 645.99 million, representing a year-on-year increase of 5.68%[3] - Net profit attributable to shareholders for the same period was approximately RMB 97.54 million, reflecting a growth of 20.16% compared to the previous year[3] - The basic earnings per share for Q1 2024 was RMB 0.58, which is an increase of 23.40% year-on-year[3] - Net profit for Q1 2024 was RMB 92,488,777.12, up 9.0% from RMB 84,951,683.69 in Q1 2023[18] - Operating profit for Q1 2024 was RMB 114,427,839.61, slightly up from RMB 111,265,909.95 in Q1 2023[17] Research and Development - Research and development expenses totaled approximately RMB 64.90 million, accounting for 10.05% of operating revenue, which is an increase of 1.28 percentage points from the previous year[3] - Research and development expenses increased to RMB 64,900,123.30 in Q1 2024, representing a 21.1% rise from RMB 53,624,174.05 in Q1 2023[17] Cash Flow - The net cash flow from operating activities was approximately RMB 75.97 million, which decreased by 4.96% year-on-year[3] - Cash flow from operating activities for Q1 2024 was RMB 75,969,702.64, compared to RMB 79,930,962.49 in Q1 2023[21] - Cash flow from investing activities showed a net inflow of RMB 1,140,250,242.38 in Q1 2024, significantly higher than RMB 335,310,779.40 in Q1 2023[20] - Cash flow from financing activities resulted in a net inflow of RMB 42,137,675.19 in Q1 2024, compared to a net outflow of RMB 20,935,703.98 in Q1 2023[23] Assets and Liabilities - The total assets at the end of the reporting period were approximately RMB 7.19 billion, showing a slight increase of 1.23% from the end of the previous year[3] - The total assets as of March 31, 2024, amounted to CNY 7,192,952,822.94, an increase from CNY 7,105,496,951.15 as of December 31, 2023[12][16] - Current assets totaled CNY 3,745,333,949.09, slightly down from CNY 3,750,143,782.75 in the previous period[12] - Non-current assets increased to CNY 3,447,618,873.85 from CNY 3,355,353,168.40, indicating growth in long-term investments[13] - Total liabilities decreased to CNY 1,070,720,682.01 from CNY 1,088,203,977.97, reflecting improved financial stability[15] - The company's equity increased to CNY 6,122,232,140.93 from CNY 6,017,292,973.18, showing a positive trend in shareholder value[16] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 7,438[7] - The top shareholder, Jiang Wei, holds 28.17% of the shares, amounting to 47,520,000 shares[8] - The number of shares held by the top ten unrestricted shareholders reflects significant ownership concentration, with Jiang Wei holding 47,520,000 shares[10] Inventory and Receivables - Accounts receivable slightly increased to CNY 328,757,543.44 from CNY 327,861,290.31, suggesting stable revenue collection[12] - Inventory levels rose to CNY 533,642,335.66 from CNY 526,173,607.73, which may indicate preparation for increased sales[12] Other Financial Metrics - The company reported a decrease in other comprehensive income, with a net amount of RMB -21,216,593.79 in Q1 2024 compared to RMB 3,063,929.44 in Q1 2023[18] - Cash and cash equivalents were reported at CNY 2,677,447,776.76, down from CNY 2,740,678,648.51, indicating a reduction in liquidity[12]

Financial Performance - The company achieved a main business revenue of 2,645.07 million RMB in 2023, representing a growth of 25.11% compared to the previous year[6]. - The company's operating revenue for 2023 reached approximately CNY 2.65 billion, representing a 24.59% increase compared to CNY 2.13 billion in 2022[57]. - Net profit attributable to shareholders for 2023 was approximately CNY 416.12 million, a significant increase of 130.58% from CNY 180.47 million in 2022[57]. - The net profit attributable to shareholders of the listed company increased by 130.58% to 416.12 million yuan, while the net profit excluding non-recurring gains and losses rose by 141.52% to 383.41 million yuan[109]. - The net cash flow from operating activities increased by 174.30% to approximately CNY 634.45 million, driven by substantial growth in revenue and operating profit[59]. - The company's total assets at the end of 2023 were approximately CNY 7.11 billion, reflecting a 3.09% increase from CNY 6.89 billion at the end of 2022[57]. - The net assets attributable to shareholders increased by 2.46% to approximately CNY 5.65 billion at the end of 2023[57]. - The company's basic earnings per share increased by 134.62% to CNY 2.44 in 2023, compared to CNY 1.04 in 2022[85]. Research and Development - The company has invested a total of 7,033.32 million RMB in various R&D projects, with a cumulative investment of 25,963.14 million RMB[11]. - The R&D team consists of 366 personnel, accounting for 16.96% of the total workforce, with an average salary of 33.04 thousand yuan[18]. - The company has established multiple R&D platforms, including a national-level enterprise technology center and a national postdoctoral research station, enhancing its research capabilities[21]. - Research and development expenses amounted to CNY 220,098,300, representing a 20.81% increase from the previous year, accounting for 8.29% of total revenue[82]. - The company is actively increasing R&D investment to develop new technologies and products, focusing on core technology transformation[184]. Product Development and Innovation - The company is conducting clinical trials for several new products, including a new type of artificial lens and a high-permeability scleral lens, with expected product approvals in early 2024[11]. - The company is developing innovative products such as a new type of cross-linked chitosan gel and a long-acting cross-linked sodium hyaluronate injection, which are expected to enhance treatment efficacy[11]. - The company successfully launched a new hydrophobic aspheric intraocular lens product in June 2023, with several other innovative products in various stages of clinical trials[82]. - The company has developed a second-generation PRL product for myopia correction, with clinical trials progressing smoothly, and high-permeability scleral lenses expected to complete registration testing by February 2024[157]. - The company has developed a large-scale sodium hyaluronate injection product that is now in the clinical application stage[191]. Market Expansion and Strategy - The company has expanded its international presence through acquisitions, focusing on transferring advanced technologies and products to the domestic market[1]. - The company plans to continue its market expansion and product development strategies, focusing on high-margin products like hyaluronic acid[3]. - The company aims to enhance the brand image of its high-end hyaluronic acid product "Haimi" and expand market penetration in 2024[127]. - The company is focusing on expanding its product matrix across four major categories: hyaluronic acid, epidermal repair gene engineering preparations, RF, and laser equipment, catering to diverse consumer needs in medical and home beauty applications[160]. - The company plans to focus on the ophthalmology sector in 2024, adapting to changes in industry policies and leveraging its multi-brand product line advantages[126]. Operational Efficiency and Cost Management - The company has reduced cash outflow from investment activities due to effective cash management, particularly in the purchase of bank certificates[5]. - The company emphasized the importance of cash flow management, noting efforts to reduce accounts receivable and enhance collection efforts[59]. - The company has established a procurement center to enhance operational efficiency and reduce costs through centralized purchasing of raw materials and equipment[178]. - The company is actively monitoring overdue accounts receivable and has reduced or stopped credit sales to clients with credit risks, leading to a decrease in accounts receivable balance[4]. Market Position and Brand Influence - The company's ophthalmic viscoelastic product has maintained a market share of 16 consecutive years as the leading product in the domestic market[16]. - The company has a leading brand influence in various treatment areas, with its products ranking among the top in sales within their respective categories[27]. - The company is the only domestic manufacturer with a full range of orthopedic sodium hyaluronate injection products in 2ml, 2.5ml, and 3ml specifications[17]. - The company holds a 46.45% market share in the orthopedic joint cavity viscoelastic supplement market in China, maintaining the leading position for nine consecutive years[172]. - The company is the largest producer of surgical anti-adhesion agents in China, with a market share of 29.90% in 2022, also maintaining this position for 16 years[183]. Challenges and Future Outlook - The company has not yet achieved profitability since its listing, as indicated in the report[44]. - The management highlighted future growth strategies, although specific commitments were not made to investors[60]. - The group plans to advance the registration of several key products in 2024, including hydrophobic aspheric multifocal intraocular lenses and innovative intraocular filling biological gel products[142]. - The group aims to enhance its operational efficiency and core competitiveness through the integration of acquired companies and resource allocation in 2024[153]. - The Chinese medical aesthetics market is projected to grow at a compound annual growth rate of 15%-20% over the next five years, driven by increasing consumer demand and a low penetration rate compared to other countries[132].