Core Viewpoint - The company emphasizes that its market value is influenced by various factors including macroeconomic environment, policy landscape, industry cycles, and operational performance [1] Group 1 - The company adheres to the principles of value creation and value sharing [1] - The company is committed to creating greater value for customers, employees, shareholders, and society [1]

Group 1 - The core viewpoint of the article is that the company's CDMO business is outperforming its API business, indicating a shift in growth dynamics [1] - The API business is currently at the bottom of the industry cycle, leading to year-on-year performance pressure [1] - The CDMO business is entering a harvest phase, which is expected to drive the company's performance into a new growth stage [1]

Core Viewpoint - Pro Pharmaceutical's CDMO business is outperforming its API business, indicating a shift towards a new growth phase for the company as the API sector faces industry cycle challenges [1] Group 1: Business Performance - The API business is currently at the bottom of the industry cycle, leading to performance pressure year-on-year [1] - The CDMO business is entering a harvest period, which is expected to drive the company's performance growth [1]

Group 1 - The company announced a share buyback program, having repurchased a total of 10,030,000 shares as of August 31, 2025, which represents 0.87% of its total share capital [2]

Core Viewpoint - Prolo Pharmaceutical (000739.SZ) has repurchased a total of 10,030,000 shares, representing 0.87% of its total share capital, as part of its share buyback program [1] Summary by Category Share Buyback Details - The share repurchase was conducted through a dedicated securities account via centralized bidding [1] - The highest transaction price was 14.82 CNY per share, while the lowest was 13.62 CNY per share [1] - The total amount spent on the repurchase was 144 million CNY, excluding transaction fees [1]

证券代码：000739 证券简称：普洛药业 公告编号：2025-48 普洛药业股份有限公司 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的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 普洛药业股份有限公司（以下简称"公司"）于2025年2月19日召开第九届 董事会第十次会议审议通过了《关于回购公司股份方案的议案》，同意公司使用 自有资金以集中竞价交易方式回购公司部分股份，用于实施公司股权激励或员工 持股计划。本次回购股份价格不超过人民币22元/股（含），回购资金总额不低 于人民币7,500万元（含）且不超过人民币15,000万元（含）。具体回购股份数 量以回购期限届满或回购股份实施完毕时实际回购股份数量为准。回购期限为自 公司董事会审议通过回购股份方案之日起12个月内。具体内容详见公司分别于 2025 年 2 月 20 日 、 2025 年 2 月 21 日 在 《 证 券 时 报 》 和 巨 潮 资 讯 网 （http://www.cninfo.com.cn）上披露的《第九届董事会第十次会议决议公告》 （公告编号：2025-04）、《关于回购公司股份方案的公告》（公告编号： ...

Core Viewpoint - Prolo Pharmaceutical's stock has shown fluctuations in price and trading volume, with a recent increase of 2.01% and a total market capitalization of 18.79 billion yuan [1] Financial Performance - For the first half of 2025, Prolo Pharmaceutical reported a revenue of 5.444 billion yuan, a year-on-year decrease of 15.31%, and a net profit attributable to shareholders of 563 million yuan, down 9.89% year-on-year [2] - The company has cumulatively distributed 2.472 billion yuan in dividends since its A-share listing, with 1.129 billion yuan distributed over the last three years [3] Shareholder Information - As of June 30, 2025, Prolo Pharmaceutical had 51,400 shareholders, a decrease of 0.52% from the previous period, with an average of 22,508 circulating shares per shareholder, down 0.41% [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 29.8493 million shares, a decrease of 2.0211 million shares from the previous period [3]

关于对下属公司担保的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、担保情况概述 1、2025 年 8 月 21 日，普洛药业股份有限公司（以下简称"公司"）与中 国工商银行股份有限公司东阳支行（以下简称"工商银行"）签订《保证合同》 [合同编号：0120800011-2025 东阳（保）字 0145 号]，同意为公司控股子公司 浙江普洛康裕制药有限公司（以下简称"康裕制药"）与工商银行签署的《流动 资金借款合同》[合同编号：0120800011-2025（东阳）字 02398 号]中的 5,000 万元流动资金借款提供连带责任保证，担保期限 12 个月。 2、2025 年 8 月 21 日，公司与工商银行签订《保证合同》[合同编号： 0120800011-2025 东阳（保）字 0144 号]，同意为公司全资子公司浙江普洛家园 药业有限公司（以下简称"家园药业"）与工商银行签署的《流动资金借款合同》 [合同编号：0120800011-2025（东阳）字 02397 号]中的 5,000 万元流动资金借 款提供连带责任保证，担保期限 12 个月。 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [2] Core Views - The company's performance in the first half of 2025 showed a decline in revenue and net profit, primarily due to increased competition in the API and formulation business, as well as price impacts from centralized procurement [5] - The CDMO business is expected to drive future growth, with a significant increase in ongoing projects and revenue [5] - The company is focusing on stabilizing its formulation business and has completed several key product approvals, which are anticipated to contribute positively to future revenue [5] Financial Performance Summary - For 2023A, the company reported revenue of 11,474 million yuan, with a year-on-year growth rate of 8.81% [2] - The projected revenue for 2025E is 12,815 million yuan, with a growth rate of 6.59% [2] - The net profit for 2023A was 1,055 million yuan, with a year-on-year growth rate of 6.69% [2] - The projected net profit for 2025E is 1,119 million yuan, with a growth rate of 8.55% [2] Business Segment Analysis - The API intermediate segment reported a revenue of 3,603 million yuan in 2025H1, down 23.41% year-on-year [5] - The CDMO segment showed a revenue increase of 20.32% in 2025H1, reaching 1,236 million yuan [5] - The formulation segment generated revenue of 583 million yuan in 2025H1, a decrease of 14.2% year-on-year [5] Future Projections - The company expects revenues of 12,815 million yuan, 14,218 million yuan, and 15,941 million yuan for the years 2025, 2026, and 2027 respectively, with year-on-year growth rates of 6.6%, 11.0%, and 12.1% [5] - The projected net profit for the same years is 1,119 million yuan, 1,270 million yuan, and 1,462 million yuan, with growth rates of 8.55%, 13.50%, and 15.06% respectively [5]

Investment Rating - The report assigns a "Buy" rating for the stock based on its performance relative to the benchmark index [12] Core Views - The CDMO business remains highly prosperous with a rich project pipeline, achieving revenue of 1.236 billion yuan in H1 2025, a year-on-year increase of 20.32%, and a gross profit of 545 million yuan, up 32.19% [2] - The raw material intermediate and pharmaceutical businesses are facing temporary challenges, but a reversal from the bottom is expected as the industry is anticipated to recover starting next year [4] Summary by Sections Financial Performance - In H1 2025, the company reported total revenue of 5.444 billion yuan, a decline of 15.31% year-on-year, and a net profit attributable to shareholders of 563 million yuan, down 9.89% [1] - The CDMO business has formed a robust "funnel" model with 1,180 ongoing projects, a 35% increase year-on-year, including 377 projects in the commercialization stage [2] Business Segments - The raw material intermediate business generated revenue of 3.603 billion yuan in H1 2025, a decrease of 23.41%, with a gross profit of 493 million yuan, down 35.32% [3] - The pharmaceutical business achieved revenue of 583 million yuan, a decline of 14.20%, but maintained a gross margin of 61.03%, an increase of 0.73 percentage points [3] Future Projections - Revenue forecasts for 2025-2027 are 11.014 billion yuan, 12.128 billion yuan, and 13.321 billion yuan respectively, with net profits projected at 1.080 billion yuan, 1.282 billion yuan, and 1.513 billion yuan [6] - The company is expected to maintain a gross margin of around 25.3% to 27.0% over the forecast period [5]