普洛药业（000739） [关键词： Table_Tag#业绩符合预期 ] [Table_Summary] 投资要点 ◼ 产能持续释放，支撑公司长期发展：公司产能持续释放，原料药方面， AH22081 生产线一期项目在 Q3 完成，YP266 生产线进入试生产阶段， 303/304 车间落地在即。CDMO 方面，AS21608 生产线和多功能车间在 2023 年 4 月和 5 月落地使用，首个高活化合物车间在年初落地。制剂 方面，七车间项目在 7 月投产，一条年产 1 亿瓶头孢粉针剂生产线落 地，新建头孢制剂生产线预计 2024 年 3 月落地。 股价走势 基础数据 2023-10-24 公司点评报告 免责及评级说明部分 增持：预期未来 6 个月个股涨跌幅相对基准介于 5%与 15%之间； 中性：预期未来 6 个月个股涨跌幅相对基准介于-5%与 5%之间； 减持：预期未来 6 个月个股涨跌幅相对基准介于-15%与-5%之间； 卖出：预期未来 6 个月个股涨跌幅相对基准在-15%以下。 行业投资评级： 买入（维持） ◼ Q4 短期受到全球去库存影响承压：单季度看，公司 2023Q4 实现收入 29.74 亿元（ ...

[盈利预测与财务指标 Table_Forcast] 推荐 维持评级 当前价格： 13.27 元 本公司具备证券投资咨询业务资格，请务必阅读最后一页免责声明 证券研究报告 1 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------|--------|--------|--------|--------|----------------------|-------|--------|-------|-------| | [TABLE_FINANCE] 利润表（百万元） | 2023A | 2024E | 2025E | 2026E | 主要财务指标 | 2023A | 2024E | 2025E | 2026E | | 营业总收入 | 11,474 | 12,991 | 14,714 | 16,910 | 成长能力（%） | | | | | | 营业成本 | 8,529 | 9,608 | 10,767 | 12,236 | 营业收入增长率 | 8.81 | 13.22 ...

证券代码：000739 证券简称：普洛药业 公告编号：2024-18 普洛药业股份有限公司 关于举行 2023 年年度报告网上业绩说明会的公告 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。 重要内容提示： 公司董事长祝方猛先生、高级副总经理何春先生、独立董事钱娟萍女士、副 总经理兼董事会秘书周玉旺先生、财务总监张进辉先生、董事会办公室主任兼证 券事务代表关键先生。 四、投资者参加方式 （1）投资者可通过网址 https://eseb.cn/1cHlNLpETsI 或使用微信扫描下 方小程序码即可进入参与互动交流。 普洛药业股份有限公司（以下简称"公司"）已于 2024 年 3 月 8 日在《证 券时报》和巨潮资讯网（www.cninfo.com.cn）披露公司 2023 年年度报告。为进 一步加强与投资者的深入交流，使投资者更加全面、深入地了解公司情况，公司 将于 2024 年 3 月 21 日（星期四）下午 15：00-16：00 通过易董价值在线平台 （www.ir-online.cn）举行 2023 年度业绩说明会。 一、说明会类型 本次业绩说明会以网 ...

Financial Performance - The company's operating revenue for 2023 reached ¥11,474,162,365.59, representing an increase of 8.81% compared to the previous year[46]. - Net profit attributable to shareholders was ¥1,055,340,740.79, reflecting a growth of 6.69% year-over-year[46]. - The net profit after deducting non-recurring gains and losses was ¥1,026,437,851.58, which is a significant increase of 22.73% from the previous year[46]. - Basic and diluted earnings per share increased to ¥0.9025, up 7.12% from the previous year[46]. - Total assets at the end of 2023 were ¥12,767,664,072.34, marking a 6.21% increase from the end of 2022[46]. - Net assets attributable to shareholders increased by 12.90% to ¥6,222,728,875.43 compared to the end of 2022[46]. - The company achieved total revenue of ¥11,474,162,365.59, representing an 8.81% increase year-over-year[103]. - The pharmaceutical main business generated revenue of ¥11,440,239,653.78, with a year-over-year growth of 8.89%[103]. - The innovative drug R&D and production services segment saw a revenue increase of 27.10%, reaching ¥2,004,981,793.08[103]. - The gross profit margin for the pharmaceutical main business improved to 25.60%, up by 1.71% compared to the previous year[103]. Dividend Distribution - The company plans to distribute a cash dividend of 3.16 yuan per 10 shares to all shareholders, based on a total of 1,169,323,576 shares[9]. Business Operations - The company reported a significant change in its main business from retail to pharmaceutical chemicals since December 2001[26]. - The company has undergone a change in its registered address, which was updated in April 2019[41]. - The company has confirmed that there are no significant discrepancies in financial indicators compared to previously disclosed quarterly and semi-annual reports[29]. - The company has engaged He Xin Accounting Firm for auditing services during the reporting period[45]. - The company emphasizes that the annual report contains forward-looking statements and does not constitute a substantive commitment to investors[33]. - The company has stated that all board members attended the meeting to review the annual report, ensuring its accuracy and completeness[8]. - The company has acknowledged potential risks in future operations and has outlined corresponding countermeasures[14]. - The company’s stock is listed on the Shenzhen Stock Exchange under the code 000739[41]. Research and Development - The company invested RMB 624.87 million in R&D during the reporting period, representing a 17.25% increase and accounting for 5.45% of total revenue[77]. - The company has submitted 363 patent applications and held 139 valid patents by the end of the reporting period[59]. - The company has registered 9 API products and 2 formulation products during the reporting period, with 5 formulation products submitted for domestic registration[78]. - The company has developed new technology platforms such as PROTAC and ADC, which are currently under construction and partially operational[77]. - The company has established new CDMO R&D centers in Hangzhou, Shanghai, and Boston, with over 500 R&D personnel[121]. - R&D personnel increased to 1,205 in 2023, a growth of 17.45% from 1,026 in 2022[1]. - The number of R&D personnel with master's degrees rose by 41.82% to 312 in 2023, compared to 220 in 2022[1]. - The number of R&D personnel aged under 30 increased by 28.44% to 840 in 2023, compared to 654 in 2022[1]. Production and Capacity - The company has launched a new production line for cephalosporin powder injection with an annual capacity of 100 million bottles, which commenced production in April[81]. - The company aims to achieve a production line for solid formulations by March 2024[81]. - The company has implemented 17 automation projects to enhance operational efficiency during the reporting period[82]. - The company has established 11 wastewater treatment systems with a designed capacity of 5.4 million tons[84]. - Production volume of formulations rose by 25.69% to 110,738,310 units[125]. - API projects totaled 82, a 49% increase year-on-year, with 18 entering commercialization[120]. Market Presence and Client Development - The company expanded its international market presence, with products exported to over 70 countries and regions[114]. - The company has established BD offices in key global markets including Boston, Frankfurt, Tokyo, and Mumbai[114]. - The CDMO business has signed confidentiality agreements with 414 domestic and international innovative pharmaceutical companies, with 55% of clients from abroad[98]. - The company added 25 new clients in the raw material pharmaceutical business, indicating good progress in new customer development[94]. Environmental and Compliance - The company has built a comprehensive environmental management system in compliance with ISO standards, improving its EHS capabilities[84]. - The company has enhanced its operational efficiency, with all pharmaceutical production and distribution subsidiaries certified by NMPA and multiple facilities passing FDA and EU EDQM inspections[90]. Governance and Management - The company’s governance structure includes a board of directors and an audit committee responsible for internal and external audit supervision[180]. - The company’s management structure consists of three business units: API, CDMO, and FDF, aimed at enhancing operational efficiency[180]. - The annual shareholders' meeting had a participation rate of 61.94% on April 18, 2023[182]. - The company is focused on continuous improvement in its business operations and product strategies through a flat organizational structure[180]. - The board members attended a total of 6 board meetings, with an average attendance of 3 in person[199]. - Independent directors receive an annual allowance of 100,000 yuan each, as approved by the shareholders' meeting[196].

Investment Rating - The investment rating for the company is "Buy" (maintained) [10]. Core Insights - The company achieved a revenue of 11.474 billion yuan in 2023, representing a year-on-year increase of 8.81%. The net profit attributable to shareholders was 1.055 billion yuan, up 6.69% year-on-year, while the net profit excluding non-recurring items increased by 22.73% to 1.026 billion yuan. The gross margin improved to 25.66%, up 1.76 percentage points, and the net margin was 9.2%, down 0.18 percentage points [10]. - The CDMO (Contract Development and Manufacturing Organization) business is rapidly growing, with revenue reaching 2.005 billion yuan, a 27.1% increase year-on-year, and a gross margin of 42.29%, up 1.27 percentage points. The number of CDMO projects has significantly increased, with 905 quoted projects (up 10% year-on-year) and 736 ongoing projects (up 40% year-on-year) [26]. Financial Performance Summary - In 2023, the revenue from the raw materials and intermediates business was 7.987 billion yuan, a 3.23% increase, with a gross margin of 17.56% (up 0.87 percentage points). The formulation segment achieved revenue of 1.249 billion yuan, a 15.69% increase, with a gross margin of 53.14% (up 1.01 percentage points) [4]. - The company has made significant investments in production capacity, including the completion of a new production line for product AH22081 and the expansion of the formulation workshop, which has been operational since July 2023 [4]. - The financial forecasts for 2024 to 2026 predict a net profit attributable to shareholders of 1.248 billion yuan, 1.486 billion yuan, and 1.732 billion yuan, respectively, with corresponding P/E ratios of 12.8, 10.7, and 9.2 times [10][12].

证券代码：000739 证券简称：普洛药业 公告编号：2024-16 普洛药业股份有限公司 关于注销回购股份并减少注册资本的公告 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"）为维护公司价值和股东权益， 优化公司资本结构，拟对 2022 年实施回购并存放于回购专用证券账户的 9,199,916 股股份全部予以注销，并相应减少公司注册资本。本次注销完成后， 公司股份总数将由 1,178,523,492 股变更为 1,169,323,576 股。本次拟注销回 购股份相关事项具体如下： 一、回购方案概述及实施情况 公司于 2022 年 5 月 5 日召开第八届董事会第十二次会议审议通过了《关 于回购公司股份方案的议案》，同意使用不低于人民币 2 亿元（含）且不超过 人民币 4 亿元（含）的自有资金，以不超过 30 元/股（含）的价格，通过集中 竞价交易方式回购公司股份，用于实施公司股权激励或员工持股计划。若公司 在股份回购完成后 36 个月内未能实施前述用途，未使用部分将依法履行相关 程序后予以注销。 公司于 2022 年 ...

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"）第九届董事会第四次会议通知于 2024 年 2 月 24 日以短信的方式发出，会议于 2024 年 3 月 6 日上午 10:30 通过现场会议的方 式召开，会议应到董事 6 人，实到董事 6 人。会议由公司董事长祝方猛先生主持，公司 3 名监事及 6 位高管列席了会议。本次会议的召开，符合《中华人民共和国公司法》和 本公司章程的规定。出席会议的董事认真审议并通过了以下议案： 证券代码：000739 证券简称：普洛药业 公告编号：2024－07 普洛药业股份有限公司 第九届董事会第四次会议决议公告 四、审议通过《关于计提资产减值准备的议案》 表决结果：同意票 6 票，反对票 0 票，弃权票 0 票。 一、审议通过《2023 年年度报告全文及摘要》 表决结果：同意票 6 票，反对票 0 票，弃权票 0 票。 本议案尚须提交公司股东大会审议。 二、审议通过《2023 年度董事会工作报告》 表决结果：同意票 6 票，反对票 0 票，弃权票 0 票。 本议案尚须提交公司股东大会审议 ...

普洛药业股份有限公司 第九届董事会第一次独立董事专门会议审核意见 根据《上市公司独立董事管理办法》《深圳证券交易所股票上市规则》《深 证证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》及《公 司章程》等法律法规和规章制度的有关规定，普洛药业股份有限公司（以下简称 "公司"）全体独立董事于 2024 年 2 月 23 日以现场会议方式召开第九届董事会 第一次独立董事专门会议，本次会议应参加独立董事 3 名，实际参加独立董事 3 名。 本次会议对《关于 2024 年度日常关联交易预计的议案》发表审核意见如下： 经审查，公司拟进行的关联交易是根据公司及控股子公司 2024 年度生产经 营计划开展的日常交易行为，属正常的生产经营需要。本次交易具有必要性、连 续性、合理性，公司及下属子公司与关联企业之间的日常关联交易不会影响公司 的独立性，交易定价原则遵循了市场经济的价值规律和公允合理的原则，能够保 证公司和全体股东的利益。会议一致同意本议案，并同意将该议案提交公司第九 届董事会第四次会议审议，关联董事应回避表决。 同时，经核查，公司 2023 年度日常关联交易实际总发生情况整体未超出 2023 年度 ...

普洛药业股份有限公司 募集资金管理制度 第二章 募集资金的存放 第五条 公司应当将募集资金存放于公司董事会批准设立的专项账户集中管 理和使用，募集资金专项账户（简称"专户"）不得存放非募集资金或用作其他 用途。超募资金也应当存放于募集资金专项账户管理。 第六条 公司应当在募集资金到位后一个月内与保荐机构、存放募集资金的商 业银行签订三方监管协议。协议至少应当包括下列内容： 第二条 本制度所称募集资金是指公司通过发行股票及其衍生品种，向投资者 募集并用于特定用途的资金。本制度所称超募资金是指实际募集资金净额超过计 划募集资金金额的部分。第三条 公司应当确保募集资金的使用与发行申请文件的 承诺相一致，不得随意改变募集资金的投向。募集资金投资项目通过公司下属公 司实施的，也应当遵守本制度。 第四条 公司的董事、监事和高级管理人员应当勤勉尽责，督促公司规范使用 募集资金，自觉维护公司募集资金安全，不得参与、协助或纵容公司擅自或变相 改变募集资金用途。 （一）公司应当将募集资金集中存放于专户中； （二）募集资金专户账号、该专户涉及的募集资金项目、存放金额； （三）公司一次或十二个月内累计从专户中支取的金额超过五千万元或 ...

证券代码：000739 证券简称：普洛药业 公告编号：2024-14 普洛药业股份有限公司 关于续聘会计师事务所的公告 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 2024 年 3 月 6 日召开 第九届董事会第四次会议，审议通过了《关于续聘会计师事务所的议案》，拟 续聘和信会计师事务所（特殊普通合伙）（以下简称"和信事务所"）为公司 2024 年度财务及内部控制审计机构，聘期为一年，本年度财务及内部控制审计 费用分别为 120 万元和 60 万元，相关费用与上年度相同。现将相关事项公告 如下： 一、拟聘任会计师事务所的基本信息 （一）机构信息 （5）首席合伙人：王晖； （6）和信会计师事务所 2022 年末合伙人数量为 37 位，年末注册会计师 人数为 262 人，其中签署过证券服务业务审计报告的注册会计师人数为 167 人。 （1）会计师事务所名称：和信会计师事务所（特殊普通合伙）； （2）成立日期：1987 年 12 月成立（转制特殊普通合伙时间为 2013 年 4 月 23 日）； （3）组织形式：特殊普 ...