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。 成都苑东生物制药股份有限公司（以下简称"公司"）于近日收到成都市市 场监督管理局核准签发的《营业执照》，现将相关情况公告如下： 一、本次工商变更的原因 公司于 2024 年 9 月 30 日召开第三届董事会第二十三次会议、于 2024 年 10 月 16 日召开 2024 年第一次临时股东大会审议通过了《关于变更注册资本及修 订<公司章程>并办理工商变更登记的议案》，同意公司根据《公司法》等有关 规定，将《营业执照》登记的公司注册资本进行变更，并同步对《公司章程》 中的公司注册资本、公司股份总数予以修订。 上述具体内容详见公司于 2024 年 10 月 1 日、10 月 17 日在上海证券交易所 网站（www.sse.com.cn）披露的《关于变更注册资本及修订<公司章程>并办理 工商变更登记的公告》（公告编号：2024-075）和《2024 年第一次临时股东大 会决议公告》（公告编号：2024-078）。 证券代码：688513 证券简称：苑东生物 公告编号：2024-08 ...

（ 二 ） 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 成都苑东生物制药股份有限公司（以下简称"公司"）已于 2024 年 10 月 25 日发布公司 2024 年第三季度报告，为加强与投资者的深入交流，使投资者更加 全面、深入地了解公司 2024 年第三季度的经营成果、财务指标等情况，公司计 划于 2024 年 11 月 18 日（星期一）上午 10:00-11:00 举行 2024 年第三季度业绩 说明会，就投资者关心的问题进行交流。 一、说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2024 年第三季度的经 营成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的 范围内就投资者普遍关注的问题进行回答。 二、说明会召开的时间、地点 （一）会议召开时间：2024 年 11 月 18 日（星期一）上午 10:00-11:00 证券代码：688513 证券简称：苑东生物 公告编号：2024-080 成都苑东生物制药股份有限公司 关于召开 2024 年第三季度业绩说明会的 ...

证券代码：688513 证券简称：苑东生物 公告编号：2024-079 成都苑东生物制药股份有限公司 关于以集中竞价交易方式回购股份的进展公告 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、准确性和完整性承担法律责任。 重要内容提示： | 回购方案首次披露日 | 2023/8/15 | | --- | --- | | 回购方案实施期限 | 2023/8/15~2025/2/14 | | 预计回购金额 | 10,000 万元~20,000 万元 | | 回购用途 | 用于员工持股计划或股权激励 | | 累计已回购股数 | 股 3,316,769 | | 累计已回购股数占总股本比例 | 1.8788% | | 累计已回购金额 | 万元 12,369.42 | | 实际回购价格区间 | 28.12 元/股~56.05 元/股 | 一、 回购股份的基本情况 2023 年 8 月 14 日，公司召开第三届董事会第十一会议审议通过了《关于以集 中竞价交易方式回购股份方案的议案》，公司拟使用人民币 10,000 万元（含）至 20,000 万元（含）自有资金回购公司股 ...

公 司 研 究 2024 年 10 月 30 日 公司点评 买入/维持 苑东生物(688513) 昨收盘:34.65 医药 苑东生物：近年获批新品放量，制剂业务快速增长 走势比较 (30%) (20%) (10%) 0% 10% 20% 23/10/3024/1/1124/3/2424/6/524/8/1724/10/29 苑东生物 沪深300 股票数据 总股本/流通(亿股) 1.77/1.77 总市值/流通(亿元) 61.17/61.17 12 个月内最高/最低价 (元) 64.25/28.11 相关研究报告 <<苑东生物中报点评：国内制剂贡献 增量，驱动收入快速增长>>--2024- 08-21 <<苑东生物：麻醉镇痛领域差异化布 局，特色解毒剂开启国际化>>-- 2024-06-02 证券分析师：谭紫媚 电话：0755-83688830 E-MAIL：tanzm@tpyzq.com 分析师登记编号：S1190520090001 证券分析师：张懿 电话：021-58502206 E-MAIL：zhangyi@tpyzq.com 分析师登记编号：S1190523100002 事件：2024 年 10 月 2 ...

证券代码：688513 证券简称：苑东生物 成都苑东生物制药股份有限公司 投资者关系活动记录表 | --- | --- | --- | --- | |-------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has shown impressive performance with a revenue of 1.04 billion yuan in Q1-Q3 2024, representing a year-on-year increase of 22.38%. The net profit attributable to shareholders reached 217 million yuan, up 12.03% year-on-year [4] - The company is focused on the anesthesia and analgesia sector, with strong market competitiveness and leading market shares in several key products [5] - The company is expanding its overseas business, with recent FDA approvals for its products, which opens up significant growth opportunities [6] Financial Performance Summary - For Q1-Q3 2024, the company reported a gross margin of 77.55% (down 3.63 percentage points) and a net margin of 20.87% (down 1.93 percentage points) [4] - The company has forecasted net profits for 2024-2026 to be 272 million, 331 million, and 403 million yuan respectively, with corresponding EPS of 1.54, 1.87, and 2.28 yuan [4] - The current price-to-earnings (P/E) ratios are projected to be 23.8, 19.6, and 16.1 for the years 2024, 2025, and 2026 respectively [4] Market Position and Product Development - The company’s products, including various injection solutions, rank among the top three in market share according to data from the Minet network [5] - The company is actively advancing its product pipeline, with new products receiving regulatory approvals in 2024 [5][6] Growth Potential - The company’s recent FDA approvals for its products mark a significant step in its international expansion strategy, which is expected to contribute to substantial revenue growth [6]

Investment Rating - The report maintains a "Recommended" investment rating for the company [1][6]. Core Views - The company has accelerated its main business growth, with a revenue of 1.04 billion yuan in the first three quarters of 2024, representing a year-on-year increase of 22.38%. The net profit attributable to the parent company reached 217 million yuan, up 12.03% year-on-year [3][6]. - The company is expected to continue benefiting from its innovative pipeline and international expansion, with significant catalysts anticipated in the near term [3][6]. Financial Summary - For the first three quarters of 2024, the company achieved a revenue of 1.04 billion yuan (+22.38%) and a net profit of 217 million yuan (+12.03%). The net profit after deducting non-recurring items was 168 million yuan (+14.92%), with a year-on-year growth of 21.85% after excluding stock incentive expenses [3][6]. - In Q3 2024, the company reported a revenue of 370 million yuan (+25.81%) and a net profit after deducting non-recurring items of 54 million yuan (+16.72%), with a year-on-year growth of 31.64% after excluding stock incentive expenses [3][6]. - The company’s revenue projections for 2024-2026 are 1.45 billion yuan, 1.82 billion yuan, and 2.27 billion yuan, respectively, with net profit expectations of 289 million yuan, 364 million yuan, and 457 million yuan [4][6]. - The company’s gross margin is projected to be around 79.7% in 2024, with a net margin of 19.9% [4][6]. Innovation and Internationalization - The company is advancing its innovative pipeline, with promising data from the Phase III clinical trial of its small molecule drug, and plans to submit a New Drug Application (NDA) for its morphine and naloxone sustained-release capsules in the second half of 2024 [3][6]. - The company is focusing on internationalizing its formulations, particularly in the opioid detoxification and emergency medication sectors, with two products receiving FDA approval for the U.S. market [3][6].

Financial Performance - The company's revenue for Q3 2024 reached ¥370,423,463.04, representing a year-on-year increase of 25.81%[1] - Net profit attributable to shareholders for Q3 2024 was ¥70,531,245.05, an increase of 13.40% compared to the same period last year[1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥54,115,567.05, up 16.72% year-on-year[1] - Total operating revenue for the first three quarters of 2024 reached CNY 1,039,937,156.56, a 22.3% increase from CNY 849,780,066.91 in the same period of 2023[11] - Net profit for the third quarter of 2024 was CNY 217,023,597.92, up 12.0% from CNY 193,716,138.10 in the third quarter of 2023[12] - The company's total equity increased to CNY 2,677,009,418.36, compared to CNY 2,603,420,163.73 in the same period last year, reflecting a growth of 2.8%[10] - Basic and diluted earnings per share for the third quarter of 2024 were both CNY 1.24, compared to CNY 1.10 in the same quarter of 2023[13] Research and Development - R&D expenses totaled ¥84,022,423.15 in Q3 2024, marking a 33.73% increase compared to the same period last year[2] - The ratio of R&D expenses to revenue was 22.68%, an increase of 1.34 percentage points year-on-year[2] - Research and development expenses for the first three quarters of 2024 were CNY 188,129,351.01, an increase from CNY 168,765,644.63 in the same period of 2023[11] - The company continues to focus on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[16] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,418,213,443.33, reflecting a 2.14% increase from the end of the previous year[2] - As of September 30, 2024, total assets amounted to RMB 3,418,213,443.33, an increase from RMB 3,346,754,293.88 at the end of 2023, reflecting a growth of approximately 2.1%[7] - Current assets totaled RMB 1,940,299,395.13, compared to RMB 1,882,871,229.64 at the end of 2023, indicating an increase of about 3.1%[8] - Total liabilities amounted to CNY 741,204,024.97, slightly down from CNY 743,334,130.15 in the previous year[10] - The total number of ordinary shareholders at the end of the reporting period was 4,464[5] Cash Flow - The net cash flow from operating activities for the first three quarters of 2024 is CNY 146,646,770.03, a decrease of 26% compared to CNY 197,748,590.40 in the same period of 2023[15] - Total cash inflow from operating activities amounted to CNY 1,027,032,791.52, up from CNY 928,523,523.06 year-on-year[15] - Cash outflow from operating activities totaled CNY 880,386,021.49, compared to CNY 730,774,932.66 in the previous year, reflecting a 20.5% increase[15] - The net cash flow from investing activities is -CNY 156,233,664.25, an improvement from -CNY 532,553,512.75 in the same period last year[15] - Cash inflow from investment activities reached CNY 1,275,405,844.97, while cash outflow was CNY 1,431,639,509.22[15] - Cash flow from financing activities resulted in a net outflow of -CNY 175,472,039.72, compared to a net inflow of CNY 34,584,325.09 in the previous year[15] - The ending balance of cash and cash equivalents is CNY 582,244,676.65, down from CNY 521,630,048.95 year-on-year[15] Other Financial Metrics - The weighted average return on equity (ROE) for Q3 2024 was 2.72%, an increase of 0.27 percentage points from the previous year[2] - The company reported a significant increase in tax payments, totaling CNY 101,485,163.59, compared to CNY 79,224,423.90 in the previous year[15] - The company has not reported any significant changes in the participation of major shareholders in margin trading or securities lending activities during the reporting period[7] - The company has not adopted new accounting standards for the current year, maintaining consistency in financial reporting[16]

Investment Rating - The report assigns an "Accumulate" rating to the company [2] Core Viewpoints - The impact of centralized procurement is gradually clearing, and new formulations are expected to continuously contribute to performance growth. The company's existing key products have been included in centralized procurement, and the negative impact of price reductions on performance has been fully digested. Revenue is expected to maintain steady growth based on stable prices and increased volume. Additionally, the number of approved formulations has significantly increased, with several products showing good potential for volume growth. The company is focusing on analgesic and anesthetic products, developing specialized drugs with technical barriers and policy thresholds, which will help form new performance growth drivers [6][12]. - The export product lineup is continuously enriching, and revenue is expected to enter a rapid growth phase. The company is focusing on opioid detoxification agents and emergency drug product lines, as well as complex formulations and specialty 505(b)(2) products. The approval of hydrochloride injection of nalmefene by the FDA in November 2023 marks the company's first product for international markets. The approval of hydrochloride injection of nicardipine in September 2024 is also expected to contribute to recent performance. With the expected volume growth of these products, the company's export business is anticipated to enter a rapid growth phase [12][13]. - Earnings forecasts indicate that the company's revenue for 2024-2026 is expected to be 1.365 billion yuan, 1.706 billion yuan, and 2.121 billion yuan, with year-on-year growth rates of 22.2%, 25.0%, and 24.3%, respectively. The net profit attributable to shareholders is projected to be 276 million yuan, 337 million yuan, and 424 million yuan, with year-on-year growth rates of 21.7%, 22.2%, and 25.9%. Based on the closing price on October 15, the corresponding PE ratios are 23.3, 19.0, and 15.1, leading to the initial coverage rating of "Accumulate" [13][14]. Summary by Sections Section 1: Impact of Centralized Procurement - The negative impact of price reductions on performance has been fully digested, and existing key products are expected to maintain steady revenue growth. New products are beginning to contribute to revenue growth, with several recent approvals showing strong potential [6][10]. Section 2: Export Product Lineup - The company is expanding its international presence with a focus on high-barrier products. The approval of key products by the FDA is expected to significantly enhance revenue from exports [12][13]. Section 3: Earnings Forecasts - Revenue and net profit projections for the next three years indicate robust growth, supported by new product launches and market expansion strategies [13][14].

北京植德律师事务所 关于成都苑东生物制药股份有限公司 2024 年第一次临时股东大会的 法律意见书 植德京(会)字[2024]0134 号 二〇二四年十月 北京市东城区东直门南大街 1 号来福士中心办公楼 12 层 邮编：100007 12th Floor, Raffles City Beijing Office Tower, No.1 Dongzhimen South Street, Dongcheng District, Beijing 100007 P.R.C 电话(Tel)：010-56500900 传真(Fax)：010-56500999 www.meritsandtree.com 北京植德律师事务所 关于成都苑东生物制药股份有限公司 2024 年第一次临时股东大会的 法律意见书 植德京(会)字[2024]0134 号 致：成都苑东生物制药股份有限公司（贵公司） 北京植德律师事务所（以下简称"本所"）接受贵公司的委托，指派律师出 席并见证贵公司 2024 年第一次临时股东大会（以下简称"本次会议"）。 本所律师参加本次会议进行见证，并根据《中华人民共和国公司法》（以下 简称"《公司法》"）、《中华人 ...