Investment Rating - The investment rating for the company is "Buy" [4][8] Core Views - The company reported a revenue of 1.39 billion yuan for the first three quarters of 2024, a year-on-year decrease of 9.8%, with a net profit attributable to shareholders of 219 million yuan, down 23.3% [1] - The company's self-produced non-COVID business revenue reached 1.14 billion yuan, showing a growth of 24.4%, with self-produced luminescence revenue at 1.04 billion yuan, up 29.2%, and overseas luminescence revenue at 135 million yuan, increasing by 45.7% [1] - The company added 1,727 units of chemical luminescence instruments in Q1-3 2024, with domestic installations accounting for 995 units, of which 600-speed machines made up 46.43% [1] - The overall gross margin for Q3 2024 was 66.84%, showing significant improvement compared to previous quarters [1] Financial Data and Valuation - The company is projected to have an EPS of 0.73, 0.93, and 1.19 yuan for 2024, 2025, and 2026 respectively, with corresponding P/E ratios of 25, 19, and 15 [2][3] - Revenue for 2024 is estimated at 2.22 billion yuan, with a growth rate of 8%, followed by 2.79 billion yuan in 2025 and 3.42 billion yuan in 2026, reflecting growth rates of 26% and 23% respectively [3] - The net profit for 2024 is expected to be 418 million yuan, with a growth rate of 18%, increasing to 531 million yuan in 2025 and 679 million yuan in 2026, with growth rates of 27% and 28% respectively [3]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The report highlights that the company faced short-term pressure in the third quarter, but growth is driven by specialty projects and international expansion [1] - For the first nine months of 2024, the company achieved operating revenue of 1.394 billion yuan, a decrease of 9.78%, and a net profit attributable to the parent company of 219 million yuan, down 23.29% [1] - The report indicates that the company's self-produced non-COVID business generated operating revenue of 1.142 billion yuan, an increase of 24.40% [1] - The company’s self-produced chemiluminescence business saw revenue of 1.037 billion yuan, up 29.15%, with significant growth in immunodiagnostics and cardiac marker diagnostics [1] - The report notes that the company’s overseas chemiluminescence business is expanding rapidly, with a 45.71% increase in revenue to 134 million yuan [1] Summary by Sections Financial Performance - In Q3, the company reported operating revenue of 434 million yuan, a decrease of 7.69%, and a net profit of 46 million yuan, down 68.21% [1] - The company’s gross profit margin for 2023 is projected at 56.8%, increasing to 63.8% in 2024 [5] - The net profit attributable to the parent company is expected to recover to 370 million yuan in 2024, with a growth rate of 4.2% [5] Market Expansion - The company added 1,727 units of self-produced chemiluminescence instruments in the first nine months of 2024, with a significant increase in overseas installations [1] - The report emphasizes that the company’s products are now covering over 5,800 medical institutions in China, including more than 1,630 tertiary hospitals [1] Future Projections - The company is expected to achieve operating revenues of 2.021 billion yuan in 2024, with a projected growth of 16.5% in 2025 [5] - The earnings per share (EPS) is forecasted to be 0.65 yuan in 2024, increasing to 1.23 yuan by 2026 [5]

深圳市亚辉龙生物科技股份有限公司 投资者关系活动记录表 （2024 年 10 月 30 日） 股票简称：亚辉龙 股票代码：688575 | --- | --- | --- | |--------------|-------------------------------|------------------------------| | | £ 特定对象调研 | £ 分析师会议 | | 投资者关系活 | £ 媒体采访 | R 业绩说明会 | | 动类别 | £ 新闻发布会 | £ 路演活动 | | | £ 现场参观 | £ 其他： | | 参与单位名称 | 共 116 家机构合计 | 143 人（详见附件与会清单） | | 时间 | 2024 年 10 月 30 日 | | | 地点 | 线上会议 | | | 公司接待人员 | 董事长：胡鹍辉 | | | 姓名 | 董事/财务总监：廖立生 | | | | 营销总部副总经理/国内营销轮值 | CEO ：于秋萍 | | | 董事会秘书：王鸣阳 | | | | 学术总监：王茗 | | | --- | --- | |--------------|----------- ...

证券代码：688575 证券简称：亚辉龙 公告编号：2024-065 深圳市亚辉龙生物科技股份有限公司 第三届董事会第二十七次会议决议公告 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。 深圳市亚辉龙生物科技股份有限公司（以下简称"公司"）第三届董事会第二十七 次会议（以下简称"本次会议"）于 2024 年 10 月 28 日以现场加通讯方式召开，会议 应到董事 7 人，实到董事 7 人，出席董事占应出席人数的 100%。本次会议的召集、 召开程序符合《公司章程》和有关法律、法规的要求。经与会董事审议和表决，会议 形成如下决议： 表决结果：7 票同意；0 票反对；0 票弃权。 本议案已经审计委员会审议通过，并同意提交董事会审议。 二、审议通过《关于变更注册资本暨修订<公司章程>的议案》 具体内容详见同日在上海证券交易所网站（www.sse.com.cn）上披露的《深圳市 亚辉龙生物科技股份有限公司关于变更注册资本暨修订<公司章程>的公告》（公告编 号：2024-066） 表决结果：7 票同意；0 票反对；0 票弃权。 根据 ...

Financial Performance - Revenue for the third quarter was RMB 433.83 million, a decrease of 7.69% year-over-year[2] - Net profit attributable to shareholders of the listed company for the third quarter was RMB 45.61 million, a decrease of 68.21% year-over-year[2] - Basic earnings per share for the third quarter were RMB 0.08, a decrease of 68.00% year-over-year[2] - Diluted earnings per share for the third quarter were RMB 0.08, a decrease of 68.00% year-over-year[3] - Weighted average return on equity for the third quarter was 1.74%, a decrease of 4.25 percentage points year-over-year[3] - Revenue for the first 9 months of 2024 was 13.94 billion yuan, a decrease of 9.78% year-on-year, with net profit attributable to shareholders of 2.19 billion yuan, down 23.29% year-on-year[12] - Total revenue for the first three quarters of 2024 was 1.39 billion RMB, a decrease from 1.54 billion RMB in the same period of 2023[21] - Net profit attributable to the parent company for the first three quarters of 2024 was 1.42 billion RMB, compared to 1.36 billion RMB in 2023[19] - Net profit attributable to parent company shareholders was RMB 218.64 million, compared to RMB 285.02 million in the same period last year[22] - Basic earnings per share were RMB 0.38, down from RMB 0.50 in the same period last year[23] - Total comprehensive income was RMB 190.30 million, compared to RMB 242.53 million in the same period last year[23] R&D and Investments - R&D investment for the third quarter was RMB 75.53 million, accounting for 17.41% of revenue, an increase of 0.59 percentage points year-over-year[3] - R&D expenses increased to 229.49 million RMB in the first three quarters of 2024, up from 214.21 million RMB in 2023[21] Assets and Liabilities - Total assets as of the end of the third quarter were RMB 4.09 billion, an increase of 7.40% compared to the end of the previous year[3] - Equity attributable to shareholders of the listed company as of the end of the third quarter was RMB 2.65 billion, an increase of 3.60% compared to the end of the previous year[3] - Total assets as of September 30, 2024, were 4.09 billion RMB, compared to 3.81 billion RMB at the end of 2023[18] - Total liabilities as of September 30, 2024, were 1.49 billion RMB, up from 1.27 billion RMB at the end of 2023[19] - Long-term loans increased to 538.04 million RMB as of September 30, 2024, from 381.89 million RMB at the end of 2023[19] Cash Flow and Liquidity - Cash and cash equivalents decreased to 399.33 million RMB as of September 30, 2024, from 490.59 million RMB at the end of 2023[17] - Accounts receivable increased to 402.52 million RMB as of September 30, 2024, from 397.49 million RMB at the end of 2023[17] - Inventory increased to 665.22 million RMB as of September 30, 2024, from 634.50 million RMB at the end of 2023[17] - Cash received from sales of goods and services was RMB 1.55 billion, up from RMB 1.33 billion in the same period last year[24] - Net cash flow from operating activities was RMB 317.92 million, compared to a negative RMB 489.86 million in the same period last year[25] - Net cash flow from financing activities was RMB 118.97 million, down from RMB 158.63 million in the same period last year[26] - The ending balance of cash and cash equivalents was RMB 396.96 million, down from RMB 472.95 million at the end of the same period last year[26] Non-Recurring Items and Impairments - Non-recurring gains and losses for the third quarter amounted to a net loss of RMB 757,682.99[5] - The decrease in net profit was mainly due to a reduction in non-recurring gains and losses compared to the same period last year[7] - Fair value change loss was RMB 14.95 million, compared to a loss of RMB 26.50 million in the same period last year[22] - Credit impairment loss was RMB 3.96 million, compared to a loss of RMB 3.69 million in the same period last year[22] - Asset impairment loss was RMB 7.79 million, compared to a loss of RMB 35.02 million in the same period last year[22] Business Segments and Market Performance - Non-COVID-19 business revenue reached 11.42 billion yuan, a year-on-year increase of 24.40%, with in-house chemiluminescence business revenue at 10.37 billion yuan, up 29.15% year-on-year[14] - Overseas chemiluminescence business revenue grew by 45.71% to 1.34 billion yuan, with international in-house chemiluminescence reagent revenue increasing by 60.24%[14] - Domestic in-house chemiluminescence reagent revenue rose by 30.23%, and total in-house chemiluminescence reagent revenue increased by 29.66% year-on-year[14] - Cumulative installations of in-house chemiluminescence instruments exceeded 9,980 units, with over 150 automated production lines installed by September 30, 2024[13] - Overseas installations of chemiluminescence instruments grew by 53.46%, with 732 units installed, including 61 units of the 300-speed model, up 48.78% year-on-year[13] - The company's products are used in 74 of the top 100 hospitals in China, according to the 2022 China Hospital Rankings[13] Corporate Developments and Achievements - The second industrial park, Qide Building, officially opened on September 10, 2024, marking a new phase of development for the company[15] - The Cairo Training and Service Center was established on September 22, 2024, enhancing the company's local service system in overseas markets[16] - The iTLA MAX solution won the 2024 MUSE Design Award Gold Prize, recognizing its design and functionality[16] Operating Costs and Expenses - Operating costs for the first three quarters of 2024 were 1.18 billion RMB, down from 1.34 billion RMB in 2023[21]

证券代码：688575 证券简称：亚辉龙 公告编号：2024-066 深圳市亚辉龙生物科技股份有限公司 关于变更注册资本暨修订《公司章程》的公告 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。 深圳市亚辉龙生物科技股份有限公司（以下简称"公司"）于 2024 年 10 月 28 日召 开第三届董事会第二十七次会议，审议通过了《关于变更注册资本暨修订<公司章程> 的议案》。具体情况如下： 修订后的《公司章程》全文将于同日披露于上海证券交易所网站(www.sse.com.cn)。 特此公告。 深圳市亚辉龙生物科技股份有限公司 董事会 公司因 2022 年限制性股票激励计划首次授予部分第二个归属期及预留授予部分第 二个归属期归属，新增股份 967,400 股，已于 2024 年 5 月 23 日在中国证券登记结算有 限责任公司上海分公司办理完毕新增股份的登记手续，公司总股本由 568,308,500 股增 加至 569,275,900 股，注册资本由 56,830.85 万元增加至 56,927.59 万元。具体内容详见 公司于 ...

二零二四年十月 | | | 深圳市亚辉龙生物科技股份有限公司 章 程 第一章 总则 第一条 为维护深圳市亚辉龙生物科技股份有限公司（以下简称"公司"）、 公司的股东和债权人的合法权益，规范公司的组织和行为，根据 《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共 和国证券法》（以下简称"《证券法》"）、《上市公司章程指引》、《上 海证券交易所科创板股票上市规则》和其他有关法律、行政法规、 部门规章、交易所的制度以及其他规范性文件（以下简称"法律法 规"）的规定，制订《深圳市亚辉龙生物科技股份有限公司章程》 （以下简称"本章程"）。 第二条 公司系依照《公司法》和其他有关规定成立的股份有限公司。 公司为深圳市亚辉龙生物科技有限公司经整体变更以发起方式设立 的股份有限公司，深圳市亚辉龙生物科技有限公司的全体股东为公 司的发起人； 公司在深圳市市场监督管理局注册登记，取得营业执照，统一社会 信用代码为 91440300680376756U。 第三条 公司经上海证券交易所（以下简称"上交所"）审核，并于 2021 年 3 月 9 日经中国证券监督管理委员会（以下简称"中国证监会"）作 出同意注册决定，首 ...

证券代码：688575 证券简称：亚辉龙 公告编号：2024-064 深圳市亚辉龙生物科技股份有限公司 关于自愿披露取得医疗器械注册证的公告 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。 深圳市亚辉龙生物科技股份有限公司（以下简称"公司"或"亚辉龙"）于近日收 到了由广东省药品监督管理局签发的医疗器械注册证,具体信息如下： | 序 | 产品名称 | 注册编号 | 注册证有效期 | 注册 | 预期用途 | | --- | --- | --- | --- | --- | --- | | 号 | | | | 分类 | | | 1 | 抗 Sp100 IgG 抗体检 测试剂盒（化学发光 | 粤 械 注 准 20242401412 | 2029/10/22 | 二类 | 用于体外定性检测人血清和（或）血 浆中抗可溶性酸性核蛋白 IgG 抗体 （Sp100 IgG），临床上主要用于原 | | | 法） | | | | 发性胆汁性肝硬化（PBC）的辅助诊 | | | | | | | 断。 | 一、医疗器械注册证的基本情况 2024 年 ...

深圳市亚辉龙生物科技股份有限公司（以下简称"公司"）监事会依据《中 华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》 （以下简称"《证券法》"）、《上市公司股权激励管理办法》（以下简称"《管 理办法》"）、《上海证券交易所科创板股票上市规则》（以下简称"《上市规 则》"）、《科创板上市公司自律监管指南第 4 号——股权激励信息披露》等相 关法律、法规、规范性文件和《深圳市亚辉龙生物科技股份有限公司章程》（以 下简称"《公司章程》"）的有关规定，对本次限制性股票激励计划第一个归属 期符合归属条件的激励对象名单进行核查，发表核查意见如下： 经核查，本次拟归属的 60 名激励对象绩效考核结果合规、真实，不存在虚 假、故意隐瞒等相关情况，符合《公司法》《证券法》等法律、法规和规范性文 件以及《公司章程》规定的任职资格，符合《管理办法》《上市规则》等法律、 法规和规范性文件规定的激励对象条件，符合公司《2023 年限制性股票激励计 划（草案）》规定的激励对象范围，其作为公司本次激励计划激励对象的主体资 格合法、有效，激励对象获授限制性股票的归属条件已成就。 深圳市亚辉龙生物科技股份有限公司监事会 ...

深圳市亚辉龙生物科技股份有限公司 证券代码：688575 证券简称：亚辉龙 公告编号：2024-063 重要内容提示： 本次拟归属股票数量：99.15 万股 归属股票来源：深圳市亚辉龙生物科技股份有限公司（以下简称"公司"） 向激励对象定向发行公司 A 股普通股股票 一、股权激励计划批准及实施情况 （一）本次股权激励计划的主要内容 关于 2023 年限制性股票激励计划第一个归属期 1、股权激励方式：第二类限制性股票。 归属条件成就的公告 2、授予数量：公司 2023 年限制性股票激励计划（以下简称"本激励计划"）拟 授予的限制性股票数量 198.30 万股，约占本激励计划草案公告时公司股本总额 56,812.91 万股的 0.35%。 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。 3、授予价格：9.10 元/股。 4、激励人数：60 人。 激励对象获授的各批次限制性股票在归属前，须满足 12 个月以上的任职期限。 5、归属期限及归属安排 （2）公司层面业绩考核要求 注：①"非新冠自产产品营业收入"指经审计的营业收入扣除其 ...