Core Points - Anbiping (688393.SH) reported a significant decline in revenue and net profit for the first half of 2025, with revenue at 159 million yuan, down 30.11% year-on-year, and a net profit attributable to shareholders of -12.5 million yuan compared to a profit of 16.4 million yuan in the same period last year [1] - The company has experienced a continuous decline in net profit for four consecutive years, with net profits of 84.7 million yuan in 2020, decreasing to 21.3 million yuan in 2024 [1] - Anbiping was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on August 20, 2020, with an initial issuance of 23.34 million shares at a price of 30.56 yuan per share [1] Financial Performance - For the first half of 2025, Anbiping's net profit excluding non-recurring gains and losses was -14.7 million yuan, down from 10.5 million yuan in the previous year [1] - The company's operating cash flow improved to 19.0 million yuan, compared to -11.3 million yuan in the same period last year [1] - Historical net profits from 2020 to 2024 show a downward trend, with figures of 84.7 million yuan, 79.8 million yuan, 42.7 million yuan, 40.1 million yuan, and 21.3 million yuan respectively [1] IPO and Stock Performance - Anbiping's initial public offering raised a total of 713 million yuan, with a net amount of 640 million yuan after deducting issuance costs, exceeding the original plan by 266 million yuan [2] - The company’s stock reached a peak price of 74.00 yuan on its first trading day but is currently in a state of decline [2] - The funds raised were intended for the construction of a research and production base and the upgrade of the marketing service network [2]

Core Points - Anbiping announced the convening of its first extraordinary general meeting of shareholders for 2025 on September 9, 2025 [2] - The meeting approved the proposal to temporarily adjust the use of idle sites for certain fundraising investment projects [2] Summary by Category - **Company Announcement** - Anbiping will hold its first extraordinary general meeting of shareholders for 2025 on September 9, 2025 [2] - **Investment Project Adjustments** - The shareholders' meeting approved a proposal to temporarily adjust the use of idle sites related to certain fundraising investment projects [2]

证券代码：688393 证券简称：安必平 公告编号：2025-042 广州安必平医药科技股份有限公司 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 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 9 日 （二） 股东大会召开的地点：广州市黄埔区科信街 2 号公司会议室 （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 | 38 | | --- | --- | | 普通股股东人数 | 38 | | 2、出席会议的股东所持有的表决权数量 | 33,600,596 | | 普通股股东所持有表决权数量 | 33,600,596 | | 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 | 35.9105 | | 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（%） | 35.9105 | （四） 表决方式是否 ...

股东大会法律意见书 達律師事務所 INDIAL LAW FIRM 中国深圳市福田区益田路 6001 号太平金融大厦 11、12 楼 邮编: 518038 11-12/F, TAIPING FINANCE TOWER, YITIAN ROAD 6001, FUTIAN DISTRICT, SHENZHEN, P.R. CHINA 电话(Tel):(0755)88265288 传真(Fax):(0755)88265537 电子邮件(E-mail): info@sundiallawfirm.com 网址(Website): www.sundiallawfirm.com 广东信达律师事务所 关于广州安必平医药科技股份有限公司 2025 年第一次临时股东大会的法律意见书 信达科会字(2025)第 042 号 1 國國信達律師事務所 股东大会法律意见书 意见书出具日以前已经发生或者存在的事实,严格履行了法定职责,遵循了勤勉 尽责和诚实信用原则,进行了充分的核查验证,保证本法律意见书所认定的事实 真实、准确、完整,所发表的结论性意见合法、准确,不存在虚假记载、误导性 陈述或者重大遗漏,并承担相应法律责任。 本法律意见书仅供 ...

广州安必平医药科技股份有限公司 2025 年第一次临时股东大会会议资料 公司代码：688393 公司简称：安必平 广州安必平医药科技股份有限公司 2025 年第一次临时股东大会 会议资料 2025 年 9 月 广州安必平医药科技股份有限公司 2025 年第一次临时股东大会会议资料 目录 | 2025 | 年第一次临时股东大会会议须知 | 2 | | --- | --- | --- | | 2025 | 年第一次临时股东大会会议议程 | 4 | | 2025 | 年第一次临时股东大会会议议案 | 6 | | | 议案一 关于暂时调整部分募集资金投资项目闲置场地用途的议案 | 6 | 1 广州安必平医药科技股份有限公司 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》《中华人民共和国证券法》《上 市公司股东大会规则》以及《广州安必平医药科技股份有限公司章程》《广州安 必平医药科技股份有限公司股东大会议事规则》等相关规定，特制定本次股东大 会会议须知： 一、为保证股东大会的 ...

Core Viewpoint - Anbiping (688393) reported a significant decline in financial performance for the first half of 2025, with total revenue of 159 million yuan, down 30.11% year-on-year, and a net profit attributable to shareholders of -12.5 million yuan, a decrease of 176.38% [1] Financial Performance Summary - Total revenue for Q2 was 86.85 million yuan, reflecting a 31.39% year-on-year decline [1] - The gross margin decreased to 63.12%, down 10.55% year-on-year, while the net margin was -8.64%, a drop of 260.29% [1] - Total expenses (selling, administrative, and financial) reached 103 million yuan, accounting for 64.62% of revenue, an increase of 9.11% year-on-year [1] - Earnings per share were -0.13 yuan, a decrease of 176.47% year-on-year [1] Changes in Financial Items - Cash and cash equivalents decreased by 41.57% due to investments in financial products [2] - Trade financial assets increased by 97.19%, also due to investments in financial products [2] - Accounts receivable surged by 381.52% due to the receipt of notes [2] - Short-term borrowings rose by 102.66% due to increased discounting of letters of credit [2] Revenue and Cost Analysis - Revenue decline of 30.11% attributed to the implementation of centralized procurement policies for HPV products, resulting in a revenue drop of 31.43 million yuan, or 70.71% [3] - Operating costs decreased by 12.44% due to reduced sales volume [3] - Sales expenses fell by 24.27% due to decreased marketing costs [3] - Management expenses decreased by 22.74% due to staff adjustments and reduced stock compensation costs [3] Business Evaluation - The company's return on invested capital (ROIC) was 0.51%, indicating weak capital returns, with a historical median ROIC of 15.71% since its listing [4] - The net profit margin was 3.17%, suggesting low added value for products or services [4] - The business model relies heavily on research and marketing, necessitating further investigation into these driving factors [4] Accounts Receivable Concern - The accounts receivable to net profit ratio reached 902.51%, indicating a significant concern regarding the company's receivables management [5]

Core Viewpoint - Anbiping (688393.SH), known as the "first stock in pathological diagnosis," reported its worst half-year performance since its listing, with a significant revenue drop due to the ongoing impact of centralized procurement in the IVD industry [2][3] Company Performance - In the first half of 2025, Anbiping's revenue fell by 30.11% year-on-year to 159 million yuan, and net profit shifted from a profit of 16.36 million yuan in the same period last year to a loss of 12.49 million yuan [2][3] - The core product, HPV testing, saw prices cut by over 50% due to centralized procurement, leading to a 70.71% decline in revenue from this segment [3] Industry Context - The entire IVD industry is experiencing a downturn, with established companies like Dirui Medical forecasting losses for the first time in 11 years, and Maike Biological reporting an 83.12% drop in net profit [3] - Centralized procurement led by Anhui resulted in an average price drop of 53.9% across 25 provinces, with some products seeing reductions of up to 73% [3] Strategic Initiatives - Anbiping is pursuing three strategic paths: building pathology services, embracing digital transformation, and expanding into international markets [5] - The pathology co-construction business showed a rare positive performance, with revenue increasing by 44.49% year-on-year to 11.69 million yuan, marking it as a strategic focus for the company [5] - The digital transformation initiative aims to enhance existing product lines with AI, with projected revenue from this segment exceeding 10 million yuan in 2024, growing over 80% [5] International Expansion - Anbiping received CE certification for 13 IHC and 1 LBP products in the first half of the year and has begun sending samples to multiple countries [6] - While partnerships have been established in several countries, significant challenges remain in product registration and local operations, making it difficult to achieve substantial overseas revenue in the short term [6] Shareholder Activity - Original shareholders have been continuously reducing their stakes, with their ownership dropping from 13.84% to below 5% over two years, signaling potential concerns about the company's transformation efforts [7]

Group 1 - Gujia Home achieved a net profit of 1.02 billion yuan in the first half of 2025, a year-on-year increase of 13.89% [1] - Gujia Home's revenue for the first half of 2025 was 9.80 billion yuan, up 10.02% year-on-year [1] - Phoenix Holdings reported a net profit of 11.04 million yuan, successfully turning a profit [1] - Phoenix Holdings' revenue increased by 200.78% year-on-year to 291 million yuan [1] - Zheshang Securities recorded a net profit of 1.15 billion yuan, a year-on-year growth of 46.49% [1] - Zheshang Securities' revenue decreased by 23.66% to 6.11 billion yuan [1] Group 2 - Tianjin Port's net profit was 503 million yuan, a year-on-year decrease of 18.33% [3] - Tianjin Port's revenue for the first half of 2025 was 6.18 billion yuan, an increase of 4.33% year-on-year [3] - Xuantai Pharmaceutical reported a net profit of 45.59 million yuan, down 15.82% year-on-year [5] - Xuantai Pharmaceutical's revenue was 220 million yuan, a slight increase of 0.74% year-on-year [5] Group 3 - Yilida achieved a net profit of 40.03 million yuan, a year-on-year increase of 18.32% [7] - Yilida's revenue for the first half of 2025 was 758 million yuan, up 12.56% year-on-year [7] - Zhongji United reported a net profit of 262 million yuan, a significant year-on-year increase of 86.61% [9] - Zhongji United's revenue was 818 million yuan, a year-on-year growth of 43.52% [9] Group 4 - China Shipbuilding Special Gas reported a net profit of 178 million yuan, a slight decrease of 0.55% year-on-year [10] - China Shipbuilding Special Gas' revenue was 1.04 billion yuan, an increase of 12.60% year-on-year [10] - Xinyuan Intelligent Manufacturing achieved a net profit of 9.79 million yuan, a year-on-year increase of 284.45% [11] - Xinyuan Intelligent Manufacturing's revenue was 329 million yuan, up 388.33% year-on-year [11] Group 5 - Jiudian Pharmaceutical reported a net profit of 291 million yuan, a year-on-year increase of 2.57% [13] - Jiudian Pharmaceutical's revenue was 1.51 billion yuan, a year-on-year growth of 10.67% [13] - Boya Biological reported a net profit of 225 million yuan, down 28.68% year-on-year [15] - Boya Biological's revenue was 1.01 billion yuan, an increase of 12.51% year-on-year [15] Group 6 - True Love Home achieved a net profit of 197 million yuan, a year-on-year increase of 484.48% [17] - True Love Home's revenue was 390 million yuan, up 21.82% year-on-year [17] - Dongfang Electronics reported a net profit of 302 million yuan, a year-on-year increase of 19.65% [19] - Dongfang Electronics' revenue was 3.16 billion yuan, a year-on-year growth of 12.18% [19] Group 7 - Watte Holdings achieved a net profit of 18.41 million yuan, a year-on-year increase of 23.94% [21] - Watte Holdings' revenue was 906 million yuan, up 12.29% year-on-year [21] - Tianqin Equipment reported a net profit of 16.36 million yuan, a year-on-year increase of 2.78% [22] - Tianqin Equipment's revenue was 111 million yuan, a year-on-year growth of 18.42% [22] Group 8 - Yingfeng Environment achieved a net profit of 382 million yuan, a year-on-year increase of 0.43% [24] - Yingfeng Environment's revenue was 6.46 billion yuan, up 3.69% year-on-year [24] - Kexin Machinery reported a net profit of 52.20 million yuan, a year-on-year decrease of 46.18% [26] - Kexin Machinery's revenue was 592 million yuan, down 17.26% year-on-year [26] Group 9 - Tengda Construction reported a net profit of 108 million yuan, a year-on-year decrease of 0.69% [27] - Tengda Construction's revenue was 1.61 billion yuan, down 5.20% year-on-year [27] - Canaan Technology achieved a net profit of 7.35 million yuan, a year-on-year decrease of 38.46% [29] - Canaan Technology's revenue was 560 million yuan, up 1.29% year-on-year [29] Group 10 - Metro Design reported a net profit of 221 million yuan, a year-on-year increase of 6.58% [30] - Metro Design's revenue was 1.32 billion yuan, up 5.31% year-on-year [30] - China Shipbuilding Special Gas plans to use up to 2.9 billion yuan of idle funds for cash management [31] - The company intends to invest in safe, liquid, principal-protected products [31] Group 11 - Jiuchuang Biotechnology received a medical device registration certificate for its lupus anticoagulant detection kit [32] - The product is intended for in vitro qualitative detection of lupus anticoagulant in human plasma [32] - Xinowei's subsidiary received approval for clinical trials of its innovative drug [33] - The drug is a humanized monoclonal antibody intended for treating multiple cancers [33] Group 12 - Dongcheng Pharmaceutical's subsidiary received FDA approval for clinical trials of its targeted radiopharmaceutical [34] - The drug is intended for treating advanced prostate cancer [34] - Shandong Road and Bridge received approval to issue bonds up to 4 billion yuan [35] - The company specializes in road and bridge engineering construction [35] Group 13 - Diou Home plans to invest 500 million yuan to establish a subsidiary focused on generative AI [36] - The investment aims to transform the company into a full-stack industrial intelligent service provider [36] - Dayilong achieved a net profit of 90.87 million yuan, a year-on-year increase of 217.89% [37] - Dayilong's revenue was 957 million yuan, up 57.35% year-on-year [37] Group 14 - Chaohongji reported a net profit of 331 million yuan, a year-on-year increase of 44.34% [38] - Chaohongji's revenue was 4.10 billion yuan, up 19.54% year-on-year [38] - Taiji Group reported a net profit of 139 million yuan, a year-on-year decrease of 71.94% [39] - Taiji Group's revenue was 5.66 billion yuan, down 27.63% year-on-year [39] Group 15 - Suneng Co. reported a net profit of 93.19 million yuan, a year-on-year decrease of 90.13% [41] - Suneng Co.'s revenue was 5.57 billion yuan, down 17.15% year-on-year [41] - Three Gorges Water Conservancy reported a net profit of 47.93 million yuan, a year-on-year decrease of 79.07% [42] - Three Gorges Water Conservancy's revenue was 4.90 billion yuan, down 6.10% year-on-year [42] Group 16 - Furida reported a net profit of 108 million yuan, a year-on-year decrease of 15.16% [44] - Furida's revenue was 1.79 billion yuan, down 7.05% year-on-year [44] - Chenzhou Electric International achieved a net profit of 25.92 million yuan, a year-on-year increase of 29.55% [46] - Chenzhou Electric International's revenue was 1.96 billion yuan, up 1.26% year-on-year [46] Group 17 - Farlantek achieved a net profit of 122 million yuan, a year-on-year increase of 41.05% [47] - Farlantek's revenue was 1.18 billion yuan, up 46.63% year-on-year [47] - Huitai Medical reported a net profit of 425 million yuan, a year-on-year increase of 24.11% [48] - Huitai Medical's revenue was 1.21 billion yuan, up 21.26% year-on-year [48] Group 18 - Dameng Data's director is under investigation for suspected violations [49] - The company's daily operations remain normal [49] - Maiwei Co. reported a net profit of 394 million yuan, a year-on-year decrease of 14.59% [50] - Maiwei Co.'s revenue was 4.21 billion yuan, down 13.48% year-on-year [50] Group 19 - Waiservice Holdings achieved a net profit of 384 million yuan, a year-on-year increase of 5.51% [52] - Waiservice Holdings' revenue was 12.25 billion yuan, up 16.15% year-on-year [52] - Huakang Co. reported a net profit of 134 million yuan, a year-on-year decrease of 3.38% [53] - Huakang Co.'s revenue was 1.87 billion yuan, up 37.32% year-on-year [53] Group 20 - Bluelight Optical achieved a net profit of 103 million yuan, a year-on-year increase of 110.27% [54] - Bluelight Optical's revenue was 577 million yuan, up 52.54% year-on-year [54] - Shunwang Technology reported a net profit of 162 million yuan, a year-on-year increase of 69.22% [55] - Shunwang Technology's revenue was 1.01 billion yuan, up 25.09% year-on-year [55] Group 21 - Anbiping reported a net loss of 12.50 million yuan in the first half of 2025 [56] - Anbiping's revenue was 159 million yuan, down 30.11% year-on-year [56] - Jinhua Co. reported a net profit of 6.20 million yuan, a year-on-year decrease of 34.53% [57] - Jinhua Co.'s revenue was 241 million yuan, down 1.90% year-on-year [57] Group 22 - Xiehe Electronics achieved a net profit of 28.96 million yuan, a year-on-year decrease of 8.31% [59] - Xiehe Electronics' revenue was 451 million yuan, up 12.13% year-on-year [59] - Huguang Co. reported a net profit of 276 million yuan, a year-on-year increase of 8.40% [60] - Huguang Co.'s revenue was 3.63 billion yuan, up 6.20% year-on-year [60]

Core Points - Anbiping announced the approval of a cash management plan using its own funds up to RMB 220 million [2] - The cash management will focus on high safety, good liquidity, and low-risk investment products [2] - The approved investment products include structured deposits, time deposits, notice deposits, large certificates of deposit, and agreed deposits [2] - The funds can be used in a rolling manner within the approved limit and must not be used for pledging or securities investment purposes [2] - The usage period for the funds is valid for 12 months from the date of board approval [2]

Core Viewpoint - The company announced a temporary adjustment to the use of idle space from fundraising investment projects, allowing for the leasing of part of the marketing service network upgrade construction project [1] Group 1 - The company will hold the fourth board of directors' ninth meeting and the fourth supervisory board's ninth meeting on August 21, 2025 [1] - The proposal regarding the temporary adjustment of idle space usage requires approval from the company's shareholders' meeting [1]