证券代码：688443 证券简称：智翔金泰 公告编号：2025-048 重庆智翔金泰生物制药股份有限公司 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 11 月 18 日 （二） 股东大会召开的地点：重庆市江北区金源路 9 号 重庆君豪大饭店 （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 | 74 | | --- | --- | | 普通股股东人数 | 74 | | 2、出席会议的股东所持有的表决权数量 | 239,428,700 | | 普通股股东所持有表决权数量 | 239,428,700 | | 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 | 65.4384 | | 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（%） | 65.4384 | （ ...

北京市万商天勤律师事务所 关于重庆智翔金泰生物制药股份有限公司 2025 年第一次临时股东大会的 2025 年第一次临时股东大会的 法律意见书 1 北京市万商天勤律师事务所 关于重庆智翔金泰生物制药股份有限公司 法律意见书 致：重庆智翔金泰生物制药股份有限公司 北京市万商天勤律师事务所（以下简称"本所"）接受重庆智翔金泰生物制 药股份有限公司（以下简称"公司"）的委托，指派律师出席了公司召开的 2025 年第一次临时股东大会。根据《中华人民共和国公司法》、《中华人民共和 国证券法》、《上市公司股东会规则》（下称"《股东会规则》"）等法律、法规和 规范性文件以及《重庆智翔金泰生物制药股份有限公司章程》（下称"《公司章 程》"）的要求，就公司 2025 年第一次临时股东大会（下称"本次股东大会"） 的相关事宜出具本法律意见书。 3、本次股东大会采取现场投票和网络投票相结合的方式召开。本次股东大 会现场会议于 2025 年 11 月 18 日 10：30 在重庆市江北区金源路 9 号重庆君豪 大饭店，会议由公司董事长刘志刚先生主持。本次股东大会网络投票分别通过 上海证券交易所交易系统以及上海证券交易所互联网投票系统 ...

Investment Rating - The report does not explicitly state an investment rating for the chronic spontaneous urticaria (CSU) drug industry in China. Core Insights - The chronic spontaneous urticaria drug market in China is projected to grow from CNY 12.4 billion in 2019 to CNY 16.9 billion in 2024, with a compound annual growth rate (CAGR) of 6.4%. It is expected to further increase at a CAGR of 16.2%, reaching CNY 41.7 billion by 2030 [5][12][14]. - The existing treatment landscape for CSU primarily includes second-generation antihistamines, with varying sales performance among different drugs. Innovative monoclonal antibody therapies are emerging, with several companies focusing on IL-4R and IgE targets [5][24][30]. Summary by Sections Market Overview - The report focuses on the chronic spontaneous urticaria drug industry in China, exploring disease mechanisms, drug patterns, and research and development progress to understand the current market size and future growth [3][4]. Treatment Patterns - The first-line treatment for CSU is standard-dose second-generation antihistamines. If symptoms are uncontrolled, combination therapy or increased dosage may be considered. If still ineffective, omalizumab can be added [5]. Market Size and Growth - The CSU drug market in China is expected to grow significantly, with a market size of CNY 12.4 billion in 2019, increasing to CNY 16.9 billion by 2024, and projected to reach CNY 41.7 billion by 2030 [12][14]. Drug Sales Performance - Sales of second-generation antihistamines show varied trends: - Loratadine has faced sales fluctuations due to generic competition. - Cetirizine maintains stable sales due to formulation innovations. - Ebastine has seen a significant decline due to national procurement policies. - Desloratadine has experienced continuous growth due to new formulations and market expansion [5][17][20]. Innovation in Drug Development - The report highlights a rich pipeline of innovative monoclonal antibody therapies for CSU treatment, with companies like Sanofi and others focusing on IL-4R and IgE targets, some of which are in clinical phases [5][24][30]. Epidemiology - The number of CSU patients globally and in China is on the rise, with projections indicating 73.5 million cases worldwide and 29.7 million in China by 2030 [8][11]. Competitive Landscape - The competitive landscape for second-generation antihistamines in China is characterized by significant disparities in sales among leading companies, with a clear market hierarchy [20][21]. Monoclonal Antibody Market - In the global CSU monoclonal antibody market, Sanofi's Dupixent shows strong performance, while Novartis's Omalizumab faces challenges and needs optimization to maintain its leading position [24][25][27]. Candidate Drugs in China - The Chinese market for CSU monoclonal antibodies features multiple candidates with diverse targets and clinical stages, indicating a dynamic and competitive environment [30].

Core Points - The stock of Zhixiang Jintai (688443.SH) closed at 28.82 yuan, with a decline of 2.17%, currently in a state of breaking issue [1] - Zhixiang Jintai was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on June 20, 2023, with an initial public offering (IPO) of 91.68 million shares at a price of 37.88 yuan per share [1] - The total amount raised from the IPO was 347.28 million yuan, with a net amount of 329.14 million yuan after deducting issuance costs, which was 68.86 million yuan less than the originally planned amount of 398 million yuan [1] - The company has reported losses for four consecutive years and three quarters, with net profits attributable to shareholders of -322 million yuan in 2021, -576 million yuan in 2022, -801 million yuan in 2023, and -797 million yuan in 2024 [2] - In the first three quarters of 2025, Zhixiang Jintai achieved revenue of 208 million yuan, a year-on-year increase of 1,562.05%, but still reported a net loss of -333 million yuan [2] Financial Summary - The total issuance costs for the IPO amounted to 18.14 million yuan, with underwriting fees of 16.50 million yuan [1] - The company’s cash flow from operating activities was -261 million yuan in the first three quarters of 2025 [2] - The company plans to use the raised funds for the construction and expansion of an antibody industrialization base, research and development of antibody drugs, and to supplement working capital [1]

Group 1 - The core point of the article is the initiation of a clinical trial for GR1803 injection, aimed at evaluating its safety, tolerability, and preliminary efficacy in patients with systemic lupus erythematosus [1] - The clinical trial is an open-label, multi-center Phase Ib/IIa study, with a target enrollment of 44 participants [2] - The drug is a biological product specifically indicated for systemic lupus erythematosus, which is an autoimmune disease affecting multiple systems in the body [1] Group 2 - The trial's primary endpoint includes the assessment of adverse events, while secondary endpoints focus on pharmacokinetic characteristics, immunogenicity, pharmacodynamic indicators, and changes in clinical scores [1] - The drug is administered intravenously with a dosage range of 3 µg/kg to 180 µg/kg over a treatment cycle of 4 weeks [1] - The clinical trial registration number is CTR20254402, with the first public information date set for November 14, 2025 [1]

Market Overview - The main funds in the Shanghai and Shenzhen markets experienced a net outflow of 58.897 billion yuan, with the Sci-Tech Innovation Board seeing a net outflow of 3.887 billion yuan [1] - A total of 232 stocks saw net inflows, while 360 stocks experienced net outflows [1] Sci-Tech Innovation Board Performance - On the Sci-Tech Innovation Board, 188 stocks rose while 396 stocks fell [1] - The stocks with the highest net inflows included Shengyi Electronics with 237 million yuan, followed by Shijia Photon and BeiGene-U with 188 million yuan and 178 million yuan respectively [1] Continuous Fund Flow Analysis - There are 49 stocks with continuous net inflows for more than three trading days, with Hangzhou Kelin leading at 11 consecutive days [2] - 137 stocks have seen continuous net outflows, with Aerospace Hongtu experiencing the longest streak at 13 days [2] Top Net Inflow Stocks - The top stocks by net inflow include: - Shengyi Electronics: 236.96 million yuan, 13.68% inflow rate, 2.06% increase [2] - Shijia Photon: 187.59 million yuan, 5.69% inflow rate, 2.19% increase [2] - BeiGene-U: 177.93 million yuan, 9.92% inflow rate, 5.62% increase [2] Notable Outflow Stocks - The stocks with the highest net outflows include: - Trina Solar: 444.5 million yuan, 6.43% decrease [1] - Western Superconducting: 333 million yuan [1] - Lanke Technology: 291 million yuan [1]

重庆智翔金泰生物制药股份有限公司 2025 年第一次临时股东大会会议资料 2025 年 11 月 股票代码：688443 股票简称：智翔金泰 重庆智翔金泰生物制药股份有限公司 2025 年第一次临时股东大会会议资料 目录 | 重庆智翔金泰生物制药股份有限公司 2025 年第一次临时股东大会会议须知 1 | | --- | | 重庆智翔金泰生物制药股份有限公司 年第一次临时股东大会会议议程 3 2025 | | 重庆智翔金泰生物制药股份有限公司 2025 年第一次临时股东大会会议议案 5 | | 议案一：关于取消监事会、修订《公司章程》并办理工商变更登记的议案 5 | | 议案二：关于修订公司部分治理制度的议案 6 | 重庆智翔金泰生物制药股份有限公司 2025 年第一次临时股东大会会议资料 重庆智翔金泰生物制药股份有限公司 2025 年第一次临时股东大会会议须知 为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，保障 股东大会的顺利进行，根据《中华人民共和国公司法》《中华人民共和国证券法》 以及《重庆智翔金泰生物制药股份有限公司章程》《重庆智翔金泰生物制药股份 有限公司股东大会议事规则》等相关规定， ...

Core Viewpoint - Zhixiang Jintai (688443.SH) is currently experiencing a decline in stock price, having fallen to 29.23 yuan, representing a drop of 1.25%, and is in a state of breaking its initial public offering price [1] Group 1: IPO and Fundraising - Zhixiang Jintai was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on June 20, 2023, with an initial public offering of 91.68 million shares at a price of 37.88 yuan per share [1] - The total amount raised from the IPO was 3.472 billion yuan, with a net amount of 3.291 billion yuan after deducting issuance costs, which were 181.44 million yuan [1] - The actual net fundraising amount was 688.6 million yuan less than the originally planned amount of 4 billion yuan, which was intended for various projects including the construction of an antibody industrialization base and research and development of antibody drugs [1] Group 2: Financial Performance - Zhixiang Jintai has reported losses for four consecutive years and three quarters, with net profits attributable to shareholders of -322 million yuan in 2021, -576 million yuan in 2022, -801 million yuan in 2023, and -797 million yuan in 2024 [2] - For the first three quarters of 2025, the company achieved revenue of 208 million yuan, a significant increase of 1,562.05% year-on-year, but still reported a net loss of -333 million yuan attributable to shareholders [2] - The cash flow from operating activities was negative at -261 million yuan for the same period [2]

Group 1 - The core viewpoint of the news is that Zhixiang Jintai (688443.SH) has reported significant revenue growth but continues to face substantial net losses, indicating ongoing financial challenges despite a strong increase in revenue [1] - For the year-to-date period ending in Q3 2025, the company achieved operating revenue of 208 million yuan, representing a year-on-year increase of 1,562.05% [1] - The net profit attributable to shareholders was -333 million yuan, and the net profit after deducting non-recurring gains and losses was -370 million yuan, highlighting persistent losses [1] Group 2 - Zhixiang Jintai has recorded net losses for four consecutive years, with net profits attributable to shareholders of -322 million yuan, -576 million yuan, -801 million yuan, and -797 million yuan from 2021 to 2024 [1] - The company went public on the Shanghai Stock Exchange's Sci-Tech Innovation Board on June 20, 2023, issuing 91.68 million new shares at a price of 37.88 yuan per share, but is currently trading below its initial offering price [1] - The total amount raised from the initial public offering was approximately 347.28 million yuan, with a net amount of 329.14 million yuan after deducting issuance costs, which was 68.86 million yuan less than the originally planned amount [2]

Investment Rating - The investment rating for the company is "Outperform the Market" [5][21]. Core Insights - The company's revenue significantly increased due to external licensing and product commercialization, achieving 208 million yuan in revenue for the first three quarters of 2025, a substantial year-on-year growth. The net profit attributable to the parent company was -333 million yuan, indicating a reduction in losses compared to the previous year [1][8]. - The company has entered into exclusive cooperation agreements with Kangzhe Pharmaceutical for two antibody products, which will generate up to approximately 510 million yuan in upfront and milestone payments, along with sales revenue from the Chinese market [2]. - The company maintains a high level of R&D investment, with 349 million yuan spent in the first three quarters of 2025, and several projects are progressing positively, including clinical trials for multiple products [3][16]. Financial Forecast and Metrics - The revenue forecast for 2025-2027 is adjusted to 253 million yuan, 587 million yuan, and 1.089 billion yuan, respectively, with net profits projected at -577 million yuan, -341 million yuan, and 38 million yuan for the same period [21]. - Key financial metrics include a projected revenue growth of 740.5% in 2025, with a gross margin of 90% and a net profit margin turning positive by 2027 [20][21]. - The company’s earnings per share are expected to improve from -1.57 yuan in 2025 to 0.10 yuan in 2027, indicating a potential turnaround in profitability [20].