二、交易进展情况 成都苑东生物制药股份有限公司 关于向参股公司增资暨关联交易完成的进展公告 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、准确性和完整性依法承担法律责任。 一、已披露的增资暨关联交易概述 为加快公司创新转型战略的实施步伐，公司分别于 2025 年 9 月 23 日召开第 四届董事会第八次会议、于 2025 年 10 月 9 日召开 2025 年第二次临时股东大会， 审议通过了《关于向参股公司增资暨关联交易的议案》，由公司全资子公司苑东 生物投资管理（上海）有限公司（以下简称"上海投资公司"）作为投资主体以货 币资金的形式对上海超阳药业有限公司（以下简称"上海超阳"）实施增资，增资 价格为 2.27 元/注册资本，增资总金额 8,571.00 万元（对应上海超阳注册资本 3,771.00 万元），资金来源均为自有资金。本次增资完成后，上海超阳的注册资 本将由原 8,800.00 万元增加至 12,571.00 万元，公司间接持有上海超阳的股权比 例将由 30.68%增加至 51.48%，上海超阳将变更为公司控股子公司，纳入公司合 并报表范围 ...

Core Viewpoint - The company has increased its investment in Shanghai Chaoyang Pharmaceutical Co., Ltd., resulting in a controlling stake and consolidation into its financial statements [1] Group 1: Investment Details - The company’s wholly-owned subsidiary, Yuandong Bio Investment Management (Shanghai) Co., Ltd., has invested 85.71 million yuan in Shanghai Chaoyang Pharmaceutical [1] - The investment price is set at 2.27 yuan per registered capital, corresponding to a registered capital of 37.71 million yuan for Shanghai Chaoyang [1] - Following this investment, the registered capital of Shanghai Chaoyang will increase from 88 million yuan to 126 million yuan [1] Group 2: Ownership Changes - The company's indirect ownership stake in Shanghai Chaoyang will rise from 30.68% to 51.48% [1] - As a result of this increase, Shanghai Chaoyang will become a controlled subsidiary of the company [1] - The financial results of Shanghai Chaoyang will now be included in the company’s consolidated financial statements [1]

Core Viewpoint - Yuan Dong Bio, established in 2009 and listed in 2020, specializes in the research, production, and sales of chemical raw materials and formulations, particularly in anesthetic and analgesic drugs, showcasing a technical advantage in the domestic chemical pharmaceutical sector [1] Financial Performance - In Q3 2025, Yuan Dong Bio achieved a revenue of 1.019 billion yuan, ranking 49th among 110 companies in the industry, with the industry leader, Huadong Medicine, reporting 32.664 billion yuan [2] - The net profit for the same period was 220 million yuan, placing the company 31st in the industry, while the top performer, Heng Rui Medicine, reported a net profit of 5.76 billion yuan [2] Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 19.47%, down from 21.68% year-on-year and below the industry average of 35.26%, indicating strong solvency [3] - The gross profit margin was 75.69%, slightly lower than the previous year's 77.55%, but still above the industry average of 57.17% [3] Executive Compensation - The chairman, Wang Ying, received a salary of 1.4022 million yuan in 2024, an increase of 302,700 yuan from the previous year [4] - The general manager, Yuan Mingxu, saw his compensation rise to 1.5363 million yuan, up by 370,400 yuan from 2023 [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 18.67% to 6,482, while the average number of shares held per shareholder decreased by 15.74% to 27,200 shares [5] - Notable new shareholders include Boshi Research Preferred Mixed A and Great Wall Pharmaceutical Industry Selected Mixed Initiated A [5] Business Highlights - The company reported a revenue decline of 2.00% year-on-year for the first three quarters of 2025, while net profit increased by 1.45% [5] - R&D investment averaged over 20% of revenue in the past three years, with at least 10 new formulation products approved annually since 2023 [5] - The company increased its stake in Shanghai Chaoyang in September 2025, which is expected to enhance its core pipeline clinical research [5] - The core pipeline HP-001 is currently undergoing Phase I clinical trials, showing promising safety characteristics [5] Future Projections - Revenue projections for 2025 to 2027 are 1.359 billion, 1.564 billion, and 1.855 billion yuan, respectively, with net profits expected to be 245 million, 280 million, and 333 million yuan [5] - Another analysis estimates revenues of 1.528 billion, 1.766 billion, and 2.086 billion yuan for the same period, with net profits of 271 million, 319 million, and 382 million yuan [6]

Core Insights - The latest round of national centralized drug procurement in China has successfully awarded contracts for 55 drugs, with 453 products from 272 companies qualifying for selection, expanding the total number of covered drugs to 490 [1] Group 1: Company Participation - Kelun Pharmaceutical and Yuandong Biological, two listed pharmaceutical companies from Chengdu, announced a total of 14 products that are likely to be selected in the recent procurement round [1] - Kelun Pharmaceutical reported that it and its subsidiaries participated in the 11th national drug procurement, with 12 products likely to be selected across various treatment areas including liver disease, oncology, and mental health [3][4] Group 2: Product Details - The 12 products from Kelun Pharmaceutical cover a range of diseases, including chronic liver disease, ovarian cancer, depression, and chronic obstructive pulmonary disease, showcasing the company's diverse product portfolio [3] - The proposed winning prices for Kelun's products vary significantly, from 2.11 yuan per bag for a specific injection to 195.37 yuan per box for an oncology drug, indicating a wide range of medication price points [3] Group 3: Financial Impact - For the 12 products proposed for selection by Kelun, most had zero sales revenue prior to this procurement, with only a few products generating minimal revenue in 2023 or 2024 [3] - Yuandong Biological announced that its selected products, including a specific injection and a tablet, contributed to a small percentage of the company's total revenue for the first nine months of 2025 [4] Group 4: R&D Investment - Yuandong Biological has maintained an average R&D investment of over 20% of its revenue in the past three years, leading to a high conversion efficiency with at least 10 new formulations approved for market each year [4]

Core Viewpoint - Chengdu Yuandong Biopharmaceutical Co., Ltd. has announced its participation in the 11th national centralized drug procurement, with two products, Adrenaline Hydrochloride Injection and Beclomethasone Sodium Tablets, expected to be selected for procurement [1][2]. Group 1: Product Information - The two products proposed for selection are Adrenaline Hydrochloride Injection, which received its drug registration certificate in May 2022, and Beclomethasone Sodium Tablets, which received its certificate in May 2024 [2]. - Sales revenue for Beclomethasone Sodium Tablets from January to September 2025 was 1.2194 million, accounting for 0.12% of total revenue, while Adrenaline Hydrochloride Injection generated 21.7564 million, representing 2.13% of total revenue during the same period [2]. Group 2: Impact on Company - The centralized procurement is expected to prioritize the selected drugs in medical institutions, ensuring the completion of agreed procurement volumes. The selected products are anticipated to start execution in the first quarter of 2026, with no impact on the company's performance for the fiscal year 2025 [2]. - The selected procurement prices are expected to decrease compared to original sales prices, which may enhance drug accessibility [2]. Group 3: Company Strategy and R&D - The company has a diverse product matrix, with an average of over 20% of revenue invested in R&D over the past three years, leading to a high conversion rate of new products [3]. - The company has been actively increasing its portfolio of special narcotic drugs and expects new approved products to contribute to revenue growth. It is also accelerating its innovation transformation, focusing on core innovation pipelines such as molecular glue and PROTAC [3].

Core Viewpoint - Yuan Dong Bio (688513) announced participation in the 11th national centralized drug procurement organized by the National Organization for Drug Procurement Office, with two products, namely, Dexmedetomidine Hydrochloride Injection and Beraprost Sodium Tablets, expected to be selected for this procurement [1] Group 1 - The company participated in the centralized procurement bidding on October 27, 2025 [1] - The products involved in the bidding are Dexmedetomidine Hydrochloride Injection and Beraprost Sodium Tablets [1]

Core Viewpoint - Yuan Dong Biotech (688513.SH) announced participation in the 11th national centralized drug procurement organized by the National Organization for Drug Procurement Office, with two products, namely, Dexmedetomidine Hydrochloride Injection and Beraprost Sodium Tablets, expected to be selected for this procurement [1] Group 1 - The company participated in the bidding for the 11th batch of national centralized drug procurement on October 27, 2025 [1] - The products involved in the procurement are Dexmedetomidine Hydrochloride Injection and Beraprost Sodium Tablets [1]

证券代码：688513 证券简称：苑东生物 公告编号：2025-077 成都苑东生物制药股份有限公司 关于自愿披露公司参与全国药品集中采购拟中选的公告 | 序号 | 拟中选品 | | | 适应症 | 规格包 | 计价 | 拟中选价 | | 采购周期 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 种 | | | | 装 | 单位 | 格（元） | | | | | | 盐 酸 | 去 | 氧 | 用于治疗麻醉时血管扩张 | 5ml： | | | 至 | 2028 | 年 | | 1 | 肾 上 | 腺 | 素 | 引起的临床低血压。 | 0.5mg*1 | 支 | 1.35 | 12 | 月 31 | 日 | | | 注射液 | | | | 支 | | | | | | | 2 | 贝 前 | 列 | 素 | 用于改善慢性动脉闭塞性 疾病引起的溃疡、间歇性 | 20ug*30 | 盒 | 13.98 | 至 | 2028 | 年 | | | 钠片 | | | 跛行、疼痛和冷感等症状。 | 盒 片*1 | | | ...

Group 1 - The core point of the news is that Yuandong Biopharmaceuticals experienced a stock price increase of 5.47%, reaching 55.30 CNY per share, with a trading volume of 150 million CNY and a turnover rate of 1.58%, resulting in a total market capitalization of 9.762 billion CNY [1] - Yuandong Biopharmaceuticals, established on June 1, 2009, and listed on September 2, 2020, is located in Chengdu, Sichuan Province. The company specializes in the research, production, and sales of chemical raw materials and chemical drug formulations [1] - The main revenue composition of Yuandong Biopharmaceuticals includes 78.75% from formulation sales, 9.22% from raw material sales, 6.79% from technical services and transfers, 4.01% from CMO/CDMO, and 1.22% from other sources [1] Group 2 - According to data from the top ten holdings of funds, Hongde Fund has a significant position in Yuandong Biopharmaceuticals, with its Hongde Medical Innovation Mixed Fund A (012481) holding 27,000 shares, unchanged from the previous period, accounting for 8.53% of the fund's net value, making it the second-largest holding [2] - The Hongde Medical Innovation Mixed Fund A (012481) was established on February 22, 2023, with a latest scale of 14.8031 million CNY. The fund has achieved a return of 41.8% this year, ranking 1877 out of 8155 in its category, and a return of 32.63% over the past year, ranking 2503 out of 8029 [2]

Group 1 - The core point of the news is that Yuan Dong Bio (688513.SH) reported a decline in institutional investor holdings in its third-quarter report for 2025, with a total of 8 institutional investors holding 11.02 million shares, representing 6.24% of the total share capital, a decrease of 5.43 percentage points from the previous quarter [1] Group 2 - In the public fund sector, there were 2 public funds that increased their holdings compared to the previous period, with an increase ratio of 0.12%. Additionally, 3 new public funds were disclosed this quarter, while 171 public funds were not disclosed compared to the previous quarter [2] Group 3 - Regarding social security funds, there was 1 social security fund that was not disclosed in the previous quarter, specifically the National Social Security Fund 111 Combination [3]