Financial Performance - The company's revenue for Q1 2024 was RMB 3,242.81 million, a decrease of 4.99% compared to RMB 3,413.06 million in the same period last year[4] - Net profit attributable to shareholders was RMB 607.82 million, an increase of 4.45% from RMB 581.91 million year-on-year[4] - Basic and diluted earnings per share were both RMB 0.65, reflecting a growth of 4.84% from RMB 0.62 in the same quarter last year[4] - The total comprehensive income for the period was RMB 693,127,170.79, compared to RMB 547,848,808.47 in the previous year, indicating a growth of 26.5%[25] - The investment income decreased by 58.41% to RMB 15.72 million, down from RMB 37.80 million in the previous year, primarily due to last year's dividend income[12] Cash Flow - The net cash flow from operating activities surged by 208.30%, reaching RMB 924.25 million compared to RMB 299.78 million in the previous year[4] - The net cash flow from operating activities increased significantly to ¥924,248,920.31, compared to ¥299,784,593.85 in the previous period, marking a growth of approximately 208%[27] - Cash inflow from operating activities totaled ¥3,508,763,815.99, up from ¥3,446,124,787.42, indicating a slight increase of about 1.8%[27] - Cash outflow from operating activities decreased to ¥2,584,514,895.68 from ¥3,146,340,193.57, representing a reduction of approximately 17.9%[27] - The net cash flow from investing activities was negative at -¥457,336,601.18, worsening from -¥64,826,182.09 in the previous period[27] - The net cash flow from financing activities showed a net outflow of RMB 654.61 million, a decrease of 306.71% compared to a net inflow of RMB 316.69 million in the previous year, due to reduced new borrowings and increased loan repayments[14] Assets and Liabilities - Total assets at the end of the reporting period were RMB 25,189.70 million, a slight increase of 0.58% from RMB 25,044.83 million at the end of the previous year[5] - The total liabilities decreased to RMB 9,750,195,000.46 from RMB 10,278,124,131.71, reflecting a reduction of approximately 5.12%[24] - The total current assets as of March 31, 2024, amounted to RMB 17,178,219,962.61, a slight decrease from RMB 17,266,174,718.28 at the beginning of the year[23] - The total non-current assets increased to RMB 8,011,475,794.50 from RMB 7,778,652,409.47 at the beginning of the year[23] Shareholder Information - Shareholders' equity attributable to the parent company increased by 4.01% to RMB 14,606.16 million from RMB 14,042.50 million[5] - The total number of ordinary shareholders at the end of the reporting period was 43,751, with the top ten shareholders holding 33.41% of the shares[15] - As of March 31, 2024, the company repurchased a total of 2,152,600 A-shares, accounting for 0.23% of the total share capital, with a total expenditure of RMB 73,436,534.00[18] - The company also repurchased 2,476,300 H-shares, representing 0.27% of the total share capital, with a total expenditure of HKD 60,363,260.00[19] Operational Highlights - The company plans to continue expanding its market presence and investing in new product development to drive future growth[3] - The company reported a significant increase in minority shareholders' profit, which rose by 238.80% to RMB 108.26 million from RMB 31.95 million in the previous year[12] - The revenue from gastrointestinal products decreased by 25.68% to RMB 588.96 million, while revenue from hormone products increased by 39.89% to RMB 806.93 million[12] - The company experienced a 60.26% increase in revenue from diagnostic reagents and equipment, reaching RMB 235.58 million compared to the previous year[12] Expenses - Research and development expenses for the quarter were RMB 238,173,559.46, down 23.5% from RMB 311,408,248.52 in the previous year[25] - The company reported a decrease in sales expenses to RMB 876,113,247.33 from RMB 964,906,980.93, a decline of 9.2%[25] - The company reported a 522.72% increase in financial expenses, primarily due to increased interest income from deposits[12] Stock Options - The company has a total of 1,001 incentive participants eligible to exercise 7,045,000 stock options at an exercise price of RMB 31.31 per A-share[20] - As of March 31, 2024, 270.66 thousand stock options have been exercised by the incentive participants[21] Buyback Information - The highest purchase price for A-shares during the buyback was RMB 35.15 per share, while the lowest was RMB 32.95 per share[18] - The highest purchase price for H-shares during the buyback was HKD 25.15 per share, with a lowest price of HKD 23.05 per share[19] Cash and Cash Equivalents - The company's cash and cash equivalents stood at RMB 11,143,148,609.60, a decrease from RMB 11,325,723,855.76 at the beginning of the year[23] - The ending cash and cash equivalents balance was ¥10,787,974,836.57, slightly down from ¥10,600,468,696.85[27] Audit Information - The company did not undergo an audit for the first quarter report[28]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性 亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致 的任何損失承擔任何責任。 承董事會命 麗珠醫藥集團股份有限公司 Livzon Pharmaceutical Group Inc. * 公司秘書 楊亮 中國，珠海 二零二四年四月十一日 於本公告日期，本公司的執行董事為唐陽剛先生 ( 總裁 ) 及徐國祥先生 ( 副董事長及副總裁 ); 本公司的非執 行董事為朱保國先生 ( 董事長 ) 、陶德勝先生 ( 副董事長 ) 、邱慶豐先生及俞雄先生 ; 而本公司的獨立非執行 董事為白華先生、田秋生先生、黃錦華先生、羅會遠先生及崔麗婕女士。 * 僅供識別 董事會會議召開日期 麗珠醫藥集團股份有限公司 Livzon Pharmaceutical Group Inc.* (「本公司」) 董事會(「董事 會」) 兹通告謹定於二零二四年四月二十三日(星期二) 舉行董事會會議，藉以審議及批准 本公司及其附屬公司截至二零二四年三月三十一日止三個月的未經審計季度業績，以及處 理其他事項。 ...

Investment Rating - Maintains an "Overweight" rating with a target price of CNY 43.17, up from the previous target of CNY 41.04 [1] Core Views - The company's performance aligns with expectations, and its innovative layout is entering a harvest period [1] - Chemical drugs face short-term pressure, while the traditional Chinese medicine (TCM) sector is expected to grow steadily due to brand-building efforts [1] - Innovative drugs and high-end complex formulations are expected to drive long-term high-quality development [1] - Revenue for 2023 was CNY 12.43 billion (-1.6% YoY), with net profit attributable to shareholders of CNY 1.954 billion (+2.3% YoY) [1] - Q4 2023 revenue was CNY 2.775 billion (-11.7% YoY), with net profit attributable to shareholders of CNY 352 million (-12.6% YoY) [1] Financial Performance Revenue and Profit - 2023 revenue: CNY 12.43 billion (-1.6% YoY) [1] - 2023 net profit attributable to shareholders: CNY 1.954 billion (+2.3% YoY) [1] - 2023 adjusted net profit: CNY 1.881 billion (+0.1% YoY) [1] - 2024-2026 EPS forecasts: CNY 2.40, CNY 2.70, and CNY 3.09 respectively [1] Segment Performance - Chemical drugs revenue: CNY 6.57 billion (-6.1% YoY), with gastrointestinal products revenue at CNY 2.903 billion (-15.5% YoY) [1] - TCM revenue: CNY 1.745 billion (+39.2% YoY), driven by online and retail sales [1] - API and intermediates revenue: CNY 3.553 billion (+3.7% YoY) [1] Innovation and R&D - Aprepitant's new indication (stress ulcer bleeding) was approved in 2023 [1] - Triptorelin microspheres for prostate cancer were approved, and endometrial cancer completed Phase III trials [1] - Aripiprazole microspheres are expected to submit NDA by mid-2024 [1] - Semaglutide for diabetes is expected to be approved, with weight loss indications pending clinical trials [1] - IL17A/F antibody is in Phase III trials, with data expected in H1 2025 [1] Valuation and Forecasts - 2024 PE ratio: 18X, with a target price of CNY 43.17 [1] - 2024-2026 revenue forecasts: CNY 13.218 billion, CNY 14.204 billion, and CNY 15.455 billion respectively [1] - 2024-2026 net profit forecasts: CNY 2.222 billion, CNY 2.498 billion, and CNY 2.859 billion respectively [1] Market Performance - Current stock price: CNY 37.30 [1] - 52-week price range: CNY 32.29-40.01 [1] - Market capitalization: CNY 34.557 billion [1] Industry and Company Overview - The company is a comprehensive pharmaceutical group engaged in R&D, production, and sales, with a strong market presence in China [2] - It has established a stable business relationship with thousands of hospitals and major commercial channels [2] - The company aims to become a leading modern pharmaceutical enterprise in China and globally [2]

2024年03月29日 公 司点评 公 买入 / 维持 司 丽珠集团(000513) 研 究 昨收盘:37.58 丽珠集团：化药板块短期受外部影响，看好新品上市后推动长期 发展  走势比较 事件：2024年3月28日，公司发布 2023年年度报告：全年实现营 业收入124.30亿元，同比下降1.58%；归母净利润19.54亿元，同比增长 太 20% 2.32%；扣非归母净利润18.81亿元，同比增长0.05%；基本每股收益2.10 10% 元，同比增长2.94%。 平 0% 洋 证 (10%)82/3/32 9/6/32 12/8/32 2/11/32 41/1/42 72/3/42 政策变化 化学 、制 以剂 及承 第压 四， 季中 度药 艾制 普剂 拉增 唑长 针。（ 剂1 国）化 谈学 降制 价剂 等业 因务 素： 的受 影第 响三 ，化季 学度 制行 剂业 券 (20%) 板块略下滑，2023年实现营业收入65.71亿元，同比下降6.13%。其中， 股 (30%) 消化道产品实现营业收入 29.03 亿元，同比下降 15.51%；促性激素产品 实现营业收入27.67亿元，同比增长6.79%；精神产品 ...

丽珠医药集团股份有限公司 关于为下属附属公司提供担保的月度进展公告 证券代码：000513、01513 证券简称：丽珠集团、丽珠医药 公告编号：2024-024 本公司及董事会全体成员保证信息披露内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 重要内容提示： ●2024 年 3 月，丽珠医药集团股份有限公司（以下简称"公司"或"丽珠集 团"）与中国工商银行股份有限公司珠海分行（以下简称"工商银行"）签署了《最 高额保证合同》，被担保人为丽珠集团丽珠制药厂，担保期限为自单笔授信业务 的主合同签订之日起至债务人在该主合同项下的债务履行期限届满日后三年止， 担保金额为人民币 30,000.00 万元；丽珠集团与交通银行股份有限公司珠海分行 （以下简称"交通银行"）签署了《保证合同》，被担保人为焦作丽珠合成制药有 限公司，担保期限为自单笔授信业务的主合同签订之日起至债务人在该主合同项 下的债务履行期限届满日后三年止，担保金额为人民币 6,000.00 万元；丽珠集团 与中国民生银行股份有限公司珠海分行（以下简称"民生银行"）签署了《最高 额保证合同》，被担保人为珠海保税区丽珠合成制药有限公司、丽珠集团丽 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 | 01513 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 309,831,217 | RMB | | 1 | RMB | | 309,831,217 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 309,831,217 | RMB | | 1 | RMB | | 309,831,217 | | 2. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | -- ...

证券代码：000513、01513 证券简称：丽珠集团、丽珠医药 公告编号：2024-023 丽珠医药集团股份有限公司关于回购公司股份的进展公告 本公司及董事会全体成员保证信息披露内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 丽珠医药集团股份有限公司（以下简称"公司"）于 2023 年 12 月 19 日召 开了公司 2023 年第三次临时股东大会、2023 年第二次 A 股类别股东会及 2023 年第二次 H 股类别股东会，审议通过了《关于回购公司部分 A 股股份方案的议 案》及《关于授予董事会回购本公司 H 股的一般授权》。现将公司回购股份的进 展情况公告如下： 一、回购 A 股股份的进展情况 根据公司于 2023 年 12 月 20 日发布的《丽珠医药集团股份有限公司回购报 告书》（公告编号：2023-120），公司将以不低于人民币 40,000 万元（含），不 超过人民币 60,000 万元（含）的回购总金额，以及不超过人民币 38.00 元/股的 回购价格，回购公司部分 A 股股份，用于注销减少注册资本。 特此公告。 丽珠医药集团股份有限公司董事会 2024 年 4 月 3 日 二、 ...

公 司 研 究 [Table_Reportdate] 2024年04月02日 [Table_invest] [丽Tabl珠e_N集ewT团itle] （000513）： 业绩短期放缓， 买入（维持） 公 研发快速推进 司 报告原因：业绩点评 简 ——公司简评报告 评 [table_main] [证Ta券b分le析_A师u thors] 投资要点 杜永宏 S0630522040001 dyh@longone.com.cn ➢ 业绩基本平稳，控费能力良好。公司2023年实现营业收入124.3亿元（-1.58%）；实现归母 医 证券分析师 净利润19.54亿元（+2.32%）；实现归母扣非净利润18.81亿元（+0.05%）。其中Q4单季度 药 伍可心 S0630522120001 实现营业收入27.75亿元（-11.65%），归母净利润3.52亿元（-12.55%），Q4单季度业绩下 生 wkx@longone.com.cn 降，主要由于2022年Q4有新冠疫苗收入，而2023年Q4该部分收入大幅下降。公司2023全 物 联系人 付婷 年计提新冠疫苗相关资产减值，影响净利润3.1亿元。 2023年，公司销售毛利率 ...

医药生物/化学制药 公 司 研 丽珠集团（000513.SZ） 多元化布局稳业绩，创新药和高壁垒制剂促发展 究 2024年04月01日 ——公司信息更新报告 投资评级：买入（维持） 余汝意（分析师） yuruyi@kysec.cn 日期 2024/3/29 证 书编号：S0790523070002 当前股价(元) 36.50  营收略有承压，利润稳健增长，持续多元化布局，维持“买入”评级 公 一年最高最低(元) 40.58/31.72 2023年公司实现营业收入人民币124.30亿元（同比-1.58%，下文均为同比口径）； 司 信 总市值(亿元) 338.16 归母净利润19.54亿元（+2.32%）；扣非归母净利润18.81亿元（+0.05%）。从盈 息 流通市值(亿元) 217.80 利能力看，2023年公司毛利率64.08%（-0.60pct），净利率15.27%（-0.21pct）。 更 总股本(亿股) 9.26 从费用端看，2023 年公司销售费用率 28.95%（-1.83pct），管理费用率 5.26% 新 报 流通股本(亿股) 5.97 （+0.06pct），研发费用率10.74%（-0.5 ...

Investment Rating - The investment rating for the company is "Accumulate" (maintained) with a current price of 36.50 CNY and a target price of 45.12 CNY [2] Core Views - The company's performance in 2023 was driven by the growth in traditional Chinese medicine and raw materials, despite a slight decline in overall revenue [3][4] - The company has a diverse product portfolio with successful innovations and product introductions, which are expected to enhance future performance [5] - The financial forecast indicates a positive growth trajectory for revenue and net profit from 2024 to 2026, with a projected compound annual growth rate (CAGR) of 11.59% [6] Financial Performance Summary - In 2023, the company achieved a revenue of 124.30 billion CNY, a year-on-year decrease of 1.58%, while the net profit attributable to shareholders was 19.54 billion CNY, an increase of 2.32% [3][4] - The breakdown of revenue by business segment shows that chemical preparations generated 65.71 billion CNY (down 6.13%), raw materials contributed 32.53 billion CNY (up 3.70%), and traditional Chinese medicine reached 17.45 billion CNY (up 39.19%) [4] - The company plans to distribute a cash dividend of 13.5 CNY per 10 shares (including tax) [3] Revenue and Profit Forecast - The projected revenues for 2024, 2025, and 2026 are 131.63 billion CNY, 139.47 billion CNY, and 148.75 billion CNY, with respective growth rates of 5.90%, 5.95%, and 6.66% [6][7] - The forecasted net profits for the same years are 21.99 billion CNY, 24.64 billion CNY, and 27.15 billion CNY, with growth rates of 12.55%, 12.07%, and 10.16% [6][7] Valuation Metrics - The estimated earnings per share (EPS) for 2024, 2025, and 2026 are 2.37 CNY, 2.66 CNY, and 2.93 CNY, respectively [6][7] - The company is assigned a price-to-earnings (P/E) ratio of 19 times for 2024, leading to the target price of 45.12 CNY [6]