证券代码：000963 证券简称：华东医药 公告编号：2024-094 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。 华东医药股份有限公司（以下简称"公司"）于2024年11月25日召 开第十届董事会第三十次会议审议通过了《关于调整2022年限制性股 票激励计划回购价格的议案》，根据公司2022年第一次临时股东大会 对董事会的相关授权，上述事项无须提交公司股东大会审议。现就有 关事项说明如下： 一、2022年限制性股票激励计划已履行的决策程序和信息披露情 况 1、2022年8月8日，公司召开第十届董事会第二次会议及第十届 监事会第二次会议，审议通过了《关于公司<2022年限制性股票激励 计划（草案）及摘要>的议案》、《关于公司<2022年限制性股票激励计 划实施考核管理办法>的议案》、《关于公司<2022年限制性股票激励计 划管理办法>的议案》、《关于提请股东大会授权董事会办理股权激励 相关事宜的议案》。独立董事就本激励计划是否有利于公司的持续发 展及是否存在损害公司及全体股东利益的情形发表了独立意见。具体 内容详见公司于2022年8月10日刊登在巨潮资讯网 ...

法律意见书 浙江天册律师事务所 关于 华东医药股份有限公司 2022 年限制性股票激励计划 首次授予限制性股票第二个解除限售期解除限售条件成就、 调整限制性股票回购价格及回购注销部分限制性股票 之 法律意见书 二〇二四年十一月 1 法律意见书 浙江天册律师事务所 关于华东医药股份有限公司 2022 年限制性股票激励计划 首次授予限制性股票第二个解除限售期解除限售条件成就、 调整限制性股票回购价格及回购注销部分限制性股票之 法律意见书 编号：TCYJS2024H1862 致：华东医药股份有限公司 浙江天册律师事务所（以下简称"本所"）接受华东医药股份有限公司（以 下简称"公司"）委托，担任公司 2022 年限制性股票激励计划（以下简称"本次 股权激励计划"或"本激励计划"）的专项法律顾问，根据《中华人民共和国公 司法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证券 法》"）、《上市公司股权激励管理办法》（以下简称"《管理办法》"）等有关法律 法规的规定，按照律师行业公认的业务标准、道德规范和勤勉尽责精神，现就本 次股权激励计划首次授予限制性股票第二个解除限售期解除限售条件成就（以下 简称 ...

证券代码：000963 证券简称：华东医药 公告编号：2024-093 华东医药股份有限公司 关于2022年限制性股票激励计划首次授予限制性股票第二 个解除限售期解除限售条件成就的公告 2、本次限制性股票解除限售尚需在相关部门办理解除限售手续， 上市流通前，公司将发布相关提示性公告，敬请投资者注意。 华东医药股份有限公司（以下简称"华东医药"、"公司"）于 2024 年 11 月 25 日召开第十届董事会第三十次会议和第十届监事会第二 十次会议，审议通过了《关于 2022 年限制性股票激励计划首次授予 限制性股票第二个解除限售期解除限售条件成就的议案》，根据公司 《2022 年限制性股票激励计划》（以下简称"《激励计划》"）的相关 规定，董事会认为公司 2022 年限制性股票激励计划首次授予限制性 股票第二个解除限售期解除限售条件已经成就，根据公司 2022 年第 一次临时股东大会的授权，公司按照《激励计划》的相关规定为符合 条件的激励对象办理解除限售事宜。现将具体情况公告如下： 一、2022 年限制性股票激励计划已履行的相关审批程序 1 1、2022年8月8日，公司召开第十届董事会第二次会议及第十届 监事会 ...

证券简称：华东医药 证券代码：000963 国盛证券有限责任公司 关于 华东医药股份有限公司 2022 年限制性股票激励计划 首次授予限制性股票第二个解除限售期解 除限售条件成就、调整限制性股票回购价格 及回购注销部分限制性股票事项 独立财务顾问报告 独立财务顾问 （江西省南昌市新建区子实路 1589 号） 二〇二四年十一月 | | | 目录 1 | | --- | --- | --- | | 第一章 | 释义 | 2 | | 第二章 | 声明 | 3 | | 第三章 | 基本假设 | 4 | | 第四章 | 本激励计划的授权与批准 | 5 | | 第五章 | 独立财务顾问意见 | 9 | 第一章 释义 之 | 本财务顾问报告中，除非另有所指，下列词语或简称具有如下含义： | | --- | | 华东医药、公司、上市公司 | 指 | 华东医药股份有限公司 | | --- | --- | --- | | 国盛证券、本独立财务顾问、 | 指 | 国盛证券有限责任公司 | | 独立财务顾问 | | | | 股权激励计划、激励计划、 | 指 | 华东医药股份有限公司 2022 年限制性股票激励计划 | | 本计划 | ...

关于控股子公司获得药物临床试验批准通知书的公告 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。 近日，华东医药股份有限公司（以下简称"公司"）控股子公司浙 江道尔生物科技有限公司（以下简称"道尔生物"）收到国家药品监督 管理局（NMPA）核准签发的《药物临床试验批准通知书》（通知书 编号：2024LP02586），由道尔生物申报的 DR10624 注射液临床试验 申请获得批准，现将有关详情公告如下： 一、该药物基本信息 药物名称：DR10624 注射液 注册分类：治疗用生物制品 1 类 受理号：CXSL2400571 证券代码：000963 证券简称：华东医药 公告编号：2024-089 华东医药股份有限公司 适应症：代谢相关脂肪性肝病/代谢相关脂肪性肝炎 申请事项：临床试验 申请人：浙江道尔生物科技有限公司 结论：根据《中华人民共和国药品管理法》及有关规定，经审查， 2024 年 8 月 27 日受理的 DR10624 注射液临床试验申请符合药品注 册的有关要求，同意本品开展临床试验。 二、该药物研发及注册情况 DR10624 为道尔生物自主研发的一款长效三 ...

关于全资子公司获得美国FDA新药临床试验批准通知的公 证券代码：000963 证券简称：华东医药 公告编号：2024-090 华东医药股份有限公司 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。 近日，华东医药股份有限公司（以下简称"公司"）全资子公司 杭州中美华东制药有限公司（以下简称"中美华东"）收到美国食品药 品监督管理局（以下简称"美国 FDA"）通知，由中美华东申报的 HDM1005 注射液药品临床试验申请已获得美国 FDA 批准，可在美国 开展 I 期临床试验，现将有关详情公告如下： 一、该药物基本信息 药物名称：HDM1005 注射液 HDM1005 注射液是由杭州中美华东制药有限公司研发并拥有全 球知识产权的 1 类化学新药，是多肽类人 GLP-1（胰高血糖素样肽- 1）受体和 GIP（葡萄糖依赖性促胰岛素多肽）受体的双靶点长效激动 剂。临床前研究显示，HDM1005 可通过激活 GLP-1 受体和 GIP 受体， 促进环磷酸腺苷（cAMP）产生，增加胰岛素分泌，抑制食欲，延迟 胃排空，改善脂肪代谢，具有降糖、减重及治疗 MASH 的作用； ...

Investment Rating - The investment rating for Huadong Medicine is "Buy" and is maintained [6][10]. Core Views - The report highlights that the company's total revenue for the third quarter of 2024 reached 10.513 billion yuan, representing a year-on-year growth of 5.03%. The net profit attributable to shareholders was 866 million yuan, up 14.71% year-on-year, while the net profit excluding non-recurring gains and losses was 857 million yuan, reflecting a growth of 16.93% [4][6]. - The report emphasizes the company's strong pipeline in the weight management sector, particularly with the oral small molecule GLP-1 receptor agonist HDM1002, which has completed enrollment for its Phase II clinical study and is expected to report top-line results in October 2024 [6][7]. - The report notes that while the domestic medical aesthetics market is experiencing a slowdown, the company is accelerating the registration of its core medical aesthetic products in overseas markets [6][8]. Summary by Sections Financial Performance - For the first nine months of 2024, the pharmaceutical industrial segment achieved a total revenue of 9.941 billion yuan, a year-on-year increase of 10.53%, with a net profit of 2.14 billion yuan, up 14.49% [7]. - The medical aesthetics segment reported a total revenue of 1.909 billion yuan for the first nine months, a growth of 1.90% year-on-year, but the subsidiary Sinclair saw a revenue decline of 20.30% due to global economic challenges [8]. Product Development - The company has a robust pipeline in the endocrine field with multiple weight management products, including the IND application for semaglutide injection, which was approved at the end of September 2024 [6][7]. - EPS forecasts for 2024, 2025, and 2026 are projected to be 1.88 yuan, 2.20 yuan, and 2.61 yuan respectively [6][10]. Market Dynamics - The report indicates that the overseas medical aesthetics market is under pressure, while the domestic market is experiencing a phase of temporary slowdown [8]. - The company is actively expanding its market presence through its subsidiary Sinclair, focusing on global sales of aesthetic injection fillers and photonic devices [8].

Investment Rating - The report maintains a "Recommended" rating for the company with a target price of 46.6 CNY, while the current price is 36.0 CNY [1]. Core Views - The company's performance in the first three quarters of 2024 met expectations, with total revenue of 31.478 billion CNY (+3.56%) and a net profit attributable to shareholders of 2.562 billion CNY (+17.05%) [1]. - The pharmaceutical manufacturing segment showed strong performance, with Q3 revenue of 3.243 billion CNY (+10.32%) and net profit of 755 million CNY (+20.44%) [2]. - The company is advancing its innovative research and development, currently having over 70 new products in various stages, including small molecules and ADCs [2]. Financial Summary - For 2024-2026, the company is expected to achieve net profits of 3.39 billion CNY, 3.94 billion CNY, and 4.52 billion CNY, representing growth rates of 19.3%, 16.4%, and 14.7% respectively [3]. - The estimated valuation for the pharmaceutical manufacturing segment in 2025 is 63.1 billion CNY, with a total company valuation of 81.8 billion CNY [3]. - Key financial metrics include total revenue projections of 44.838 billion CNY for 2024, with a year-on-year growth rate of 10.4% [7].

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company’s subsidiary, Hangzhou Sino-American Huadong Pharmaceutical Co., Ltd., received approval from the National Medical Products Administration (NMPA) for the marketing authorization of Ustekinumab injection (Selokimab®), the first biosimilar of Ustekinumab in China, for the treatment of moderate to severe plaque psoriasis in adults [1][10] - Ustekinumab's original drug sales exceed $10 billion annually, indicating a significant market opportunity for the company's biosimilar [1][10] - The company has over 70 innovative products in its pipeline, focusing on endocrine, autoimmune, and oncology fields, with several products in advanced clinical stages [1][3] Summary by Relevant Sections Business Analysis - Ustekinumab's original drug, Stelara®, developed by Johnson & Johnson, achieved global sales of $10.858 billion in 2023 [10][12] - The company’s innovative pipeline includes over 30 oncology products, with a notable ADC new drug application currently under review [1][3] - The company’s oral GLP-1 receptor agonist, HDM1002, has completed Phase II clinical trials for weight management in overweight or obese populations [1][3] Financial Forecasts and Valuation - The company is expected to achieve net profits of RMB 3.36 billion (+18%), RMB 3.94 billion (+17%), and RMB 4.57 billion (+16%) for the years 2024 to 2026, respectively [1][3] - Corresponding EPS for 2024-2026 is projected to be RMB 1.92, RMB 2.25, and RMB 2.61, with current P/E ratios of 18, 15, and 13 times [1][3]

Investment Rating - The investment rating for Huadong Medicine is "Buy" (maintained) [1]. Core Views - The approval of Ustekinumab injection (Seluixin®) marks a significant milestone for the company, being the first biosimilar of Ustekinumab approved in China, aimed at treating moderate to severe plaque psoriasis in adults [1][13]. - The original drug, Stelara®, generated over $10.85 billion in global sales in 2023, indicating a substantial market opportunity for the biosimilar [1][15]. - The company has a robust pipeline with over 70 innovative products, focusing on endocrine, autoimmune, and oncology fields, which are expected to contribute to revenue growth [1][4]. Summary by Sections Company Overview - Huadong Medicine's subsidiary received approval for Seluixin®, a biosimilar to Stelara®, which is a human monoclonal antibody targeting IL-12 and IL-23 [1][13]. - The company is actively expanding its innovative product pipeline, particularly in oncology, with over 30 innovative drug candidates [1][4]. Financial Performance - The company is projected to achieve net profits of RMB 3.36 billion (+18%), RMB 3.94 billion (+17%), and RMB 4.57 billion (+16%) for the years 2024 to 2026, respectively [1][4]. - Earnings per share (EPS) are expected to be RMB 1.92, RMB 2.25, and RMB 2.61 for the same period, with corresponding price-to-earnings (P/E) ratios of 18, 15, and 13 times [1][4]. Market Potential - There are over 7 million psoriasis patients in China, with plaque psoriasis being the most common type, highlighting a significant market for the newly approved biosimilar [1][5]. - The approval of Seluixin® is expected to enhance the company's market position and revenue potential in the growing biopharmaceutical sector [1][4]. R&D and Innovation - The company has a strong focus on innovation, with ongoing clinical trials for various products, including those targeting obesity and autoimmune diseases [1][4]. - The successful development and approval of Seluixin® are expected to provide a competitive edge in the market, leveraging the company's existing capabilities in drug commercialization [1][16].