Core Viewpoint - The recent criminal detention of Xu Xiren, the chairman and president of Beijing University Pharmaceutical, has raised concerns about the company's leadership stability and operational continuity [1][6]. Company Leadership Changes - Xu Xiren was temporarily unable to perform his duties due to personal reasons, leading to the delegation of his responsibilities to other executives [1]. - Following the announcement of his criminal detention, the company confirmed that it is unaware of the investigation's progress and has made arrangements for ongoing operations [1][6]. - The company has experienced significant management turnover in recent months, with multiple resignations due to personal reasons [3][5]. Business Operations and Financial Performance - Beijing University Pharmaceutical positions itself as an integrated pharmaceutical technology enterprise, focusing on the research, production, and sale of chemical drug formulations [3]. - The company has undergone a significant change in control, with the actual control shifting away from Peking University, and is in the process of rebranding to reflect this change [6][7]. - The company is facing potential revenue declines due to the termination of a long-term service contract with Peking University International Hospital, which could result in a revenue decrease of approximately 600 million yuan (29.13% of the latest audited revenue) and a net profit decrease of around 40 million yuan (28.99% of the latest audited net profit) [7]. - Financial results indicate a revenue decline of 6.10% year-on-year for 2024, with total revenue of 2.06 billion yuan, while net profit increased by 211.10% to 138 million yuan [7]. - The third-quarter report showed a revenue drop of 19.76% year-on-year, totaling 1.231 billion yuan, with a net profit of 136 million yuan, reflecting a 4.31% increase [7].

Core Viewpoint - The recent criminal detention of Xu Xiren, the chairman and actual controller of Peking University Pharmaceutical (000788), has led to a significant decline in the company's stock price and raised concerns about its operational stability and future prospects [1][4][9]. Group 1: Impact of Leadership Changes - Xu Xiren has been detained for criminal investigation, which has resulted in a 6.97% drop in the company's stock price on October 30, closing at 5.74 yuan per share [4][9]. - The company has appointed Chen Yuezhong and Yu Mengchuan to temporarily assume Xu's responsibilities, but this transition may lead to a "power vacuum" affecting strategic decision-making and daily management [6][10]. - The company had previously indicated on October 25 that Xu was unable to perform his duties due to personal reasons, which foreshadowed the current situation [4][5]. Group 2: Loss of Major Client - Peking University Pharmaceutical has lost its largest client, Peking University International Hospital, which accounted for 48.71% of its total sales in 2024, amounting to 1 billion yuan [7][8]. - The termination of the long-term service contract with this client is expected to result in a revenue decrease of approximately 600 million yuan from June 2023 to the end of 2025, representing 29.13% of the company's most recent audited revenue [8][9]. - The company anticipates a further revenue decline of about 1.03 billion yuan starting in 2026, which would account for 49.85% of its latest audited revenue [8]. Group 3: Financial Performance - The company reported a 19.76% year-on-year decline in revenue for the first three quarters of 2025, totaling approximately 1.23 billion yuan, while net profit increased by 4.31% to 136 million yuan [9]. - In the third quarter alone, revenue fell by 47.95% year-on-year to about 274 million yuan, with net profit decreasing by 18.04% to approximately 35.7 million yuan [9]. - Ongoing disruptions caused by retired employees protesting over benefits have further impacted the company's operational environment [9]. Group 4: Strategic Changes and Future Outlook - The company is in the process of rebranding to eliminate the "Peking University" label, which is expected to affect its brand value and market trust [10]. - The management is advised to enhance internal governance, stabilize operations, and explore new partnerships to mitigate reliance on a single client or resource [10].

Core Viewpoint - The company reported a steady growth in net profit for the first three quarters of 2025, despite a decline in revenue, indicating resilience in its core operations and product development strategy [1] Financial Performance - The company achieved an operating revenue of approximately 1.231 billion yuan, a year-on-year decrease of 19.76% [1] - The net profit attributable to shareholders was 136 million yuan, reflecting a year-on-year increase of 4.31% [1] - Basic earnings per share stood at 0.23 yuan [1] Product Development and Pipeline - The company focuses on the fields of "anti-infection, analgesics, mental health, and chronic diseases," aiming to meet actual medication needs and enhance clinical efficacy [1] - The company has been actively pursuing consistency evaluations and independent research and development, introducing high-potential and high-value-added products [1] - A stable and mature core product lineup is being established through both internal and external growth strategies [1] Recent Product Approvals - On April 1, the company received a drug registration certificate for injectable cefoperazone sodium, enhancing its product line in the anti-infection sector [2] - On April 18, the company’s ondansetron hydrochloride tablets received approval, expanding its offerings in the gastrointestinal and metabolic fields [2] - On September 26, the company’s apremilast tablets were approved, which are recommended for the treatment of moderate to severe plaque psoriasis, further strengthening its position in the immunomodulator market [2]

Core Viewpoint - The recent criminal detention of the chairman and president of Beijing University Pharmaceutical has raised concerns about the company's governance and operational stability, leading to a significant drop in its stock price [1][7]. Company Governance - On October 25, Beijing University Pharmaceutical announced that its chairman and president, Xu Xiren, was temporarily unable to perform his duties due to personal reasons, delegating responsibilities to other executives [1]. - On October 29, the company disclosed that Xu Xiren had been criminally detained and was cooperating with investigations, which has led to uncertainty regarding the company's future [1]. - The company stated that its control structure remains unchanged, and its board operations, financial, and operational management are normal as of the announcement date [1]. Stock Market Reaction - Following the news of Xu Xiren's detention, the company's stock opened lower on October 30, experiencing an intraday drop of 8.59%, closing at 5.74 yuan per share, with a market capitalization of approximately 3.42 billion yuan [1]. Business Overview - Beijing University Pharmaceutical positions itself as an integrated pharmaceutical technology enterprise focusing on the research, production, and sales of chemical drug formulations, with a focus on areas such as anti-infection, analgesics, mental health, and chronic diseases [1]. - The company currently holds 166 drug approvals and 13 first-generic drug approvals [1]. Recent Changes in Control - The company underwent significant management changes in early 2024, with multiple resignations due to personal reasons, including the chairman and president [2][4]. - Xu Xiren was elected as chairman in April 2025 and appointed as president in July 2025 [5]. Financial Performance - In 2024, the company reported revenues of 2.06 billion yuan, a year-on-year decline of 6.10%, while achieving a net profit of 138 million yuan, a significant increase of 211.10% [7]. - The third-quarter report for 2025 indicated revenues of 1.23 billion yuan, a year-on-year decrease of 19.76%, with a net profit of 136 million yuan, reflecting a 4.31% increase [7]. - The company anticipates a potential revenue decrease of approximately 600 million yuan (29.13% of the latest audited revenue) and a net profit decrease of around 40 million yuan (28.99% of the latest audited net profit) due to the termination of a key business partnership [7].

Core Viewpoint - North China Pharmaceutical (000788.SZ) reported a decline in operating revenue for the first three quarters of 2025, while net profit attributable to shareholders increased slightly [1] Financial Performance - The company achieved operating revenue of 1.231 billion yuan, a year-on-year decrease of 19.76% [1] - Net profit attributable to shareholders reached 136 million yuan, reflecting a year-on-year increase of 4.31% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 126 million yuan, showing a year-on-year decrease of 2.66% [1] - Basic earnings per share were reported at 0.2282 yuan [1]

Core Insights - The company reported a revenue of approximately 1.23 billion yuan for the first three quarters of 2025, representing a year-on-year decline of 19.76% [1] - The net profit attributable to shareholders for the same period was 136 million yuan, showing a year-on-year increase of 4.31% [1] - In the third quarter, the company achieved a revenue of about 274 million yuan, which is a significant year-on-year decrease of 47.95% [1] - The net profit for the third quarter was approximately 35.7 million yuan, reflecting a year-on-year decline of 18.04% [1]

证券代码：000788 证券简称：北大医药 公告编号：2025-080 北大医药股份有限公司 第十一届董事会第十六次会议决议公告 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、会议召开情况 北大医药股份有限公司（以下简称"公司"）第十一届董事会第十六次会议 于 2025 年 10 月 29 日上午在重庆市渝北区金开大道 56 号两江天地 1 单元 10 楼 会议室以现场结合通讯方式召开。会议通知于 2025 年 10 月 22 日以传真、电子 邮件或送达方式发给各位董事。本次会议应出席董事 9 人，实际出席董事 9 人（委 托出席 1 人，董事长徐晰人先生授权委托董事陈岳忠先生代为出席会议并行使表 决权），其中董事贾剑非女士、包铁民先生、黄联军先生、杨力今女士、王唯宁 先生以通讯方式参加会议，其余董事出席现场会议。经全体董事同意，会议由董 事陈岳忠先生主持，公司部分高级管理人员列席了本次会议。会议的召开符合《中 华人民共和国公司法》《公司章程》等有关规定。 二、会议审议情况 1、审议通过《2025 年第三季度报告》 公司董事会对 2025 年第三季度公司 ...

北大医药股份有限公司 内部审计制度 目 录 第一章 总则 第一条 为了规范北大医药股份有限公司（以下简称"公司"）内部的审计 工作，提高公司内部审计监督和风险控制，保护公司资产的安全和完整，明确内 部审计机构和人员的责任，根据《中华人民共和国公司法》《中华人民共和国证 券法》《上市公司治理准则》《审计署关于内部审计工作的规定》《深圳证券交 易所股票上市规则》《深圳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》等法律、规章、规范性文件及《公司章程》，结合公司实际情 况，制定本制度。 第一章 总则 第二章 内部审计机构和人员 第三章 内部审计机构的职责与权限 第四章 内部审计的具体实施 第五章 信息披露 第六章 违规责任 第七章 附则 第二条 本制度所称内部审计，是指公司内部审计机构依据国家有关法律法 规、财务会计制度和公司内部管理规定，对本公司及其子公司财务收支、经济活 动、内部控制、风险管理的真实性、合法性和效益性进行的监督和评价工作。 第三条 内部审计旨在促进公司内部控制体系的健全与完善，有效控制成本， 提升经营管理水平，防范和化解经营风险，助力公司价值的持续增长。 第四条 本制度所称内部 ...

北大医药股份有限公司 内部控制管理制度 （二〇二五年十月修订） 目 录 第七章 附则 第一章 总则 第一条 为加强北大医药股份有限公司（以下简称"公司"）内部控制管理， 促进公司规范运作和健康发展，保护投资者合法权益，根据《中华人民共和国公 司法》《中华人民共和国证券法》《企业内部控制基本规范》《深圳证券交易所 股票上市规则》（以下简称"《股票上市规则》"）、《深圳证券交易所上市公 司自律监管指引第1号——主板上市公司规范运作》（以下简称"《规范运作指 引》"）等有关法律法规、规范性文件及《北大医药股份有限公司公司章程》（以 下简称"《公司章程》"）的规定，结合公司的实际情况，制定本制度。 第一章 总则 第二章 内部环境 第三章 风险评估 第四章 控制活动 第五章 信息与沟通 第六章 内部监督 第二条 本制度适用于公司及合并报表范围内的子公司。 （一）全面性原则。内部控制应当贯穿决策、执行和监督全过程，覆盖公司 及其所属单位的各种业务和事项。 （二）重要性原则。内部控制应当在全面控制的基础上，关注重要业务事项 和高风险领域。 （三）制衡性原则。内部控制应当在治理结构、机构设置及权责分配、业务 流程等方面形成相 ...

北大医药股份有限公司 （二〇二五年十月修订） 第一章 总则 外部信息使用人管理制度 第一条 本制度适用于北大医药股份有限公司（以下简称"公司"）及下属控 股子公司。 第二条 为加强公司定期报告及重大事项在编制、审议和披露期间，公司外 部信息报送和使用管理，依据《中华人民共和国公司法》、《中华人民共和国证券 法》、《公司章程》等有关规定，制定本制度。 第三条 本制度所指信息是所有对公司股票交易价格可能产生影响的信息， 包括但不限于定期报告、临时公告、财务数据、需报批的重大事项等。 第二章 外部信息报送和使用 第四条 公司的董事和高级管理人员应当遵守信息披露内控制度的要求，对 公司定期报告及重大事项履行必要的传递、审核和披露流程。 第五条 公司的董事和高级管理人员及其他相关涉密人员在定期报告编制、 公司重大事项筹划期间，负有保密义务。定期报告、临时报告公布前，不得以任 何形式、任何途径向外界或特定人员泄漏定期报告、临时报告的内容，包括但不 限于业绩座谈会、分析师会议、接受投资者调研座谈等方式。 第六条 对于无法律法规依据的外部单位年度统计报表等提出的报送要求， 公司应拒绝报送。 第七条 公司依据法律法规的要求应当 ...