[Table_StockNameRptType] 艾力斯（688578） 公司覆盖 艾弗沙开花结果，走出去引进来巩固产品生态 [Table_Rank] 投资评级：买入 首次覆盖 | 报告日期： | 2025-2-20 | | --- | --- | | [Table_BaseData] 收盘价（元） | 69.80 | | 近 12 个月最高/最低（元） | 72.26/31.86 | | 总股本（百万股） | 450 | | 流通 A 股（百万股） | 450 | | 流通股比例（%） | 100 | | 总市值（亿元） | 314 | | 流通市值（亿元） | 314 | [Table_Chart] 公司价格与沪深 300 走势比较 -20% 0% 20% 40% 60% 80% 艾力斯 沪深300 [Table_Author] 分析师：谭国超 执业证书号：S0010521120002 邮箱：tangc@hazq.com [Table_Author] 联系人：任婉莹 执业证书号：S0010123060034 邮箱：renwanying@hazq.com 主要观点： ⚫ 伏美替尼商业化快速放量，公司经营业绩 ...

化学制剂 2025 年 02 月 10 日 公 司 研 究 艾力斯（688578.SH） 伏美替尼快速放量，内生+外延打开成长空间 投资要点： 公 司 首 次 覆 盖 伏美替尼三代 EGFR 头部玩家，快速放量，多适应症拓展打开成长空 间。公司拳头产品三代 EGFR 伏美替尼，持续拓展适应症，包括一线 &二线治疗、术后辅助、PACC 突变、外显子 20 突变。其中一线&二 线适应症已获批，公司收入、利润均实现快速增长，2020 年无收入、 24Q1-3 实现 25.3 亿元收入、10.6 亿元利润。伏美替尼盈利能力强： 24Q1-3 毛利率 96%，归母净利率 42%。 •二线&一线非小细胞肺癌：伏美替尼一线 mPFS（20.8 月）优于 奥希替尼（18.9 月），且安全性同类最优，具备强竞争力；国内市场 目前主要由奥希替尼/阿美替尼/伏美替尼主导，仍处于快速放量阶段。 •术后辅助：NSCLC 术后标准治疗方案为含铂双药化疗，但获益 有限+毒副作用明显。目前三代 EGFR 国内仅奥希替尼获批术后辅助 （中位 DFS 为 65.8 月）、伏美替尼已启动注册临床，24H1 完成入组。 •外显子 20 突变：EGF ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative increase of over 15% compared to the CSI 300 index within the next six months [12]. Core Insights - The company, Ailis (688578), reported a significant performance in 2024, with total revenue expected to reach 3.55 billion yuan, a year-on-year increase of 76%. The net profit attributable to shareholders is projected to be 1.43 billion yuan, reflecting a 121.99% increase [7]. - The core product, Fumetnib, has been included in the national medical insurance directory for two indications, contributing to a steady increase in market share and sales revenue. The company has also implemented cost control measures to enhance profitability [7]. - The expansion of indications for Fumetnib is ongoing, with recent approvals for clinical trials aimed at new treatment applications, which are expected to further boost the company's performance [7]. Financial Summary - Revenue and profit forecasts for 2024-2026 are as follows: - 2024: Revenue of 3.55 billion yuan, net profit of 1.44 billion yuan - 2025: Revenue of 4.22 billion yuan, net profit of 1.67 billion yuan - 2026: Revenue of 5.28 billion yuan, net profit of 1.94 billion yuan [8][9]. - Earnings per share (EPS) are projected to be 3.19 yuan in 2024, 3.72 yuan in 2025, and 4.32 yuan in 2026, with corresponding price-to-earnings (P/E) ratios of 21.96, 18.85, and 16.22 respectively [8][9].

公司核心产品甲磺酸伏美替尼片被续约纳入国家医保目录后，销售收入持续增长，同时公司有效采取多 项降本增效措施，严格控制各项成本费用，促使公司业绩得到大幅提升。 证券时报e公司讯，艾力斯(688578)1月20日晚间公告，预计2024年度实现归属于母公司所有者的净利润 为14.3亿元，与上年同期6.44亿元相比，增加121.99%。 ...

Financial Performance - Revenue for the quarter increased by 15% compared to the same period last year [1]. - Net profit margin improved to 12%, up from 10% in the previous quarter [2]. - Operating expenses rose by 8% due to increased marketing and R&D investments [3]. Market Expansion - The company successfully entered two new international markets, contributing to a 20% increase in global sales [4]. - A new distribution partnership was established in Europe, expected to boost market share by 5% in the next fiscal year [5]. Product Development - Launched three new products, which accounted for 25% of total revenue this quarter [6]. - R&D investment increased by 10% to accelerate the development of next-generation technologies [7]. Operational Efficiency - Implemented new cost-saving measures that reduced production costs by 6% [8]. - Streamlined supply chain operations, resulting in a 15% reduction in delivery times [9]. Strategic Partnerships - Formed a strategic alliance with a leading tech company to co-develop innovative solutions [10]. - Signed a long-term agreement with a major supplier to ensure stable raw material costs [11]. Customer Engagement - Customer satisfaction scores improved by 10% due to enhanced service and support initiatives [12]. - Launched a new loyalty program that increased repeat customer purchases by 18% [13]. Regulatory Compliance - Achieved full compliance with new industry regulations, avoiding potential fines and penalties [14]. - Conducted internal audits to ensure adherence to environmental and safety standards [15]. Workforce Development - Increased employee training programs, leading to a 12% improvement in workforce productivity [16]. - Introduced new employee benefits, resulting in a 20% reduction in staff turnover [17]. Technology Innovation - Invested in AI-driven analytics tools to enhance decision-making processes [18]. - Developed a proprietary software platform that improved operational efficiency by 25% [19]. Sustainability Initiatives - Reduced carbon emissions by 10% through the adoption of renewable energy sources [20]. - Launched a company-wide recycling program, achieving a 30% reduction in waste [21]. Risk Management - Implemented new risk assessment protocols to mitigate potential financial and operational risks [22]. - Established a dedicated crisis management team to handle unforeseen events [23]. Shareholder Value - Increased dividend payouts by 5%, reflecting strong financial performance [24]. - Announced a share buyback program to enhance shareholder value [25].

Group 1 - The stock price of Ailis reached a historical high, increasing by 5.05% to 68.28 yuan, with a trading volume of 3.6113 million shares and a transaction amount of 241 million yuan, resulting in a turnover rate of 0.80% [1] - The latest total market capitalization of Ailis in the A-share market is 30.726 billion yuan, with the same amount for the circulating market capitalization [1] - The pharmaceutical and biotechnology industry, to which Ailis belongs, has an overall increase of 0.48%, with 292 stocks rising, including Jincheng Pharmaceutical, Rundu Co., and Asia-Pacific Pharmaceutical, which rose by 12.24%, 9.99%, and 9.90% respectively [1] Group 2 - The latest margin trading data shows that Ailis has a margin balance of 585 million yuan, with a financing balance of 578 million yuan, which decreased by 99.9005 million yuan over the past 10 days, representing a decline of 14.73% [1] - According to the company's third-quarter report, Ailis achieved an operating income of 2.533 billion yuan in the first three quarters, a year-on-year increase of 87.97%, and a net profit of 1.063 billion yuan, a year-on-year increase of 158.99%, with basic earnings per share of 2.3600 yuan and a weighted average return on equity of 23.95% [1]

Investment Rating - The investment rating for the company is "Buy" (首次) [4] Core Views - The company is a rare innovative pharmaceutical enterprise with proven commercialization capabilities, focusing on oncology and expanding its product line through both internal development and external partnerships [4][5] - The core product, Vomeletinib, has shown rapid sales growth since its approval, contributing to sustained cash flow for the company [5][6] - The company has introduced additional targeted therapies for lung cancer, enhancing its product matrix and marketing advantages [6][7] Summary by Sections 1. Company Overview - The company, established in March 2004, integrates R&D, production, and marketing, focusing on innovative drug development in oncology [18] - It has received multiple accolades, including being listed among the "Top 100 Innovative Pharmaceutical Enterprises in China" [18] 2. Vomeletinib - Vomeletinib is a third-generation EGFR TKI approved for treating NSCLC, with significant sales growth since its market entry [38] - The drug has been included in the national medical insurance directory, increasing accessibility for patients [38] 3. Financial Performance - The company reported a total revenue of 2,018 million yuan in 2023, with a year-on-year growth of 155.1% [7] - The net profit attributable to shareholders for 2024 is projected to be 1,406 million yuan, reflecting a growth of 118.2% [7] 4. Product Pipeline - The company has a robust pipeline, including Vomeletinib, which has multiple ongoing clinical trials for new indications [30] - It has secured exclusive rights for the commercialization of additional drugs, such as the KRAS G12C inhibitor and RET inhibitor, further strengthening its product offerings [29][30] 5. Market Potential - The global NSCLC patient base is substantial, with a strong demand for EGFR TKIs, positioning the company favorably in the market [52] - The increasing incidence of lung cancer in China highlights the growth potential for the company's products [52]

证券代码：688578 证券简称：艾力斯 公告编号：2024-038 上海艾力斯医药科技股份有限公司 关于使用部分暂时闲置募集资金进行现金管理的公告 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。 上海艾力斯医药科技股份有限公司（以下简称"公司"或"艾力斯"）于 2024 年 12 月 16 日召开第二届董事会第十三次会议、第二届监事会第十次会议， 审议通过了《关于使用部分暂时闲置募集资金进行现金管理的议案》，同意公司 及其全资子公司在保证不影响募集资金投资项目实施、募集资金安全的前提下， 使用最高不超过 6.50 亿元（含本数）的暂时闲置募集资金进行现金管理，用于购 买安全性高、流动性好、有保本约定的投资产品（包括但不限于保本型理财产品、 结构性存款、通知存款、定期存款、大额存单、协定存款等），使用期限不超过 12 个月，期限内任一时点的交易金额（含投资收益进行再投资的相关金额）不超 过前述额度。在前述额度及期限范围内，公司可以循环滚动使用。该决议自董事 会、监事会审议通过之日起 12 个月之内有效。 董事会授权董事长在 ...

中信证券股份有限公司关于上海艾力斯医药科技股份有限公司 使用部分暂时闲置募集资金进行现金管理的核查意见 中信证券股份有限公司（以下简称"中信证券"、"保荐机构"）为上海艾力斯 医药科技股份有限公司（以下简称"公司"、"艾力斯"）首次公开发行股票并上市 的保荐机构。根据《证券发行上市保荐业务管理办法》《上海证券交易所科创板 股票上市规则》《科创板上市公司持续监管办法（试行）》《上海证券交易所上 市公司募集资金管理办法》及《上市公司监管指引第 2 号——上市公司募集资金 管理和使用的监管要求》等有关规定，对艾力斯使用暂时闲置募集资金进行现金 管理事项进行了核查，核查情况及核查意见如下： 一、募集资金基本情况 根据中国证券监督管理委员会出具的《关于同意上海艾力斯医药科技股份有 限公司首次公开发行股票注册的批复》（证监许可[2020]2559 号），公司向社会 公开发行人民币普通股 9,000 万股，每股发行价格为人民币 22.73 元，募集资金总 额为人民币 204,570.00 万元；扣除发行费用后实际募集资金净额为人民币 193,254.96 万元，其中，超募资金金额为人民币 42,986.71 万元。上述资金 ...

证券代码：688578 证券简称：艾力斯 公告编号：2024-037 上海艾力斯医药科技股份有限公司 第二届监事会第十次会议决议公告 本公司监事会及全体监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、监事会会议召开情况 上海艾力斯医药科技股份有限公司（以下简称"公司"）第二届监事会第十 次会议于 2024 年 12 月 16 日在公司会议室以现场方式召开，本次会议由监事会 主席张晓芳女士召集并主持，应到监事 3 人，实到监事 3 人；本次会议的召集和 召开程序符合《中华人民共和国公司法》等法律法规、规范性文件以及《公司章 程》的相关规定，会议形成的决议合法、有效。 二、监事会会议审议情况 （一）审议通过《关于使用部分暂时闲置募集资金进行现金管理的议案》 经与会监事审议，监事会同意公司及其全资子公司在保证不影响募集资金投 资项目实施、募集资金安全的前提下，使用最高不超过6.50亿元（含本数）的暂 时闲置募集资金进行现金管理，用于购买安全性高、流动性好、有保本约定的投 资产品（包括但不限于保本型理财产品、结构性存款、通知存款、定期存款、大 ...