2025-032 证券代码：001367 证券简称：海森药业 公告编号： 浙江海森药业股份有限公司 2025 年半年度募集资金存放与使用情况的专项报告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 根据《上市公司募集资金监管规则》《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》《深圳证券交易所上市公司自律监管指南第 2号——公告格式》等法律法规及规范性文件的要求，浙江海森药业股份有限公 司（以下简称"公司"）编制了2025年半年度募集资金存放与使用情况的专项报 告。 一、募集资金基本情况 本次发行的保荐机构（主承销商）中信证券股份有限公司扣除承销及保 荐 费 用 （ 含 税 ） 人 民 币 57,710,131.20 元 后 的 募 集 资 金 余 额 为 人 民 币 698,449,868.80元，于2023年4月3日汇入本公司开立的募集资金专用账户中。 立信会计师事务所（特殊普通合伙）已于2023年4月3日对本公司首次公开发 行股票的募集资金到位情况进行了审验，并出具了《验资报告》（信会师报字[2023] 第ZF10312号）。本公 ...

2025 年半年度非经营性资金占用及其他关联资金往来情况汇总表 编制单位：浙江海森药业股份有限公司 单位：万元 | 非经营性资金 | 资金占用 | 占用方与上市公 | 上市公司核算 | 2025 | 年期初 | 2025 年半年度占用累计 | 2025 | 年半年度占用 | 2025 | 年半年度偿 | 2025 年 月 30 | 6 | 占用形成 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 占用 | 方名称 | 司的关联关系 | 的会计科目 | 占用资金余额 | | 发生金额（不含利息） | | 资金的利息（如 有） | | 还累计发生金额 | 日占用资金余额 | | 原因 | 占用性质 | | 控股股东、实 际控制人及其 | | | | | | | | | | | | | | | | 附属企业 | | | | | | | | | | | | | | | | 小计 | | | | | | | | | | | | | | | | 前控股股东、 实际控制人及 | ...

浙江海森药业股份有限公司 2025 年半年度财务报告 浙江海森药业股份有限公司 2025 年半年度财务报告 2025 年 8 月 15 日 1 浙江海森药业股份有限公司 2025 年半年度财务报告 一、审计报告 半年度报告是否经过审计 □是 否 公司半年度财务报告未经审计。 二、财务报表 财务附注中报表的单位为：元 1、合并资产负债表 编制单位：浙江海森药业股份有限公司 2025 年 06 月 30 日 单位：元 | 项目 | 期末余额 | 期初余额 | | --- | --- | --- | | 流动资产： | | | | 货币资金 | 487,551,459.05 | 1,034,482,112.28 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | 490,000,000.00 | | | 衍生金融资产 | | | | 应收票据 | 3,599,089.20 | 4,282,530.64 | | 应收账款 | 60,012,921.77 | 53,503,407.03 | | 应收款项融资 | 7,855,749.11 | 31,417,799.00 | | 预付款项 | ...

证券代码：001367 证券简称：海森药业 公告编号：2025-035 浙江海森药业股份有限公司 关于召开 2025 年第二次临时股东会的通知 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 浙江海森药业股份有限公司（以下简称"公司"）于2025年8月13日召开第 三届董事会第十四次会议，会议决定于2025年9月11日以现场投票和网络投票相 结合的方式召开公司2025年第二次临时股东会，现将本次股东会的有关事项公 告如下： 一、召开会议的基本情况 （一）股东会届次：2025年第二次临时股东会。 （二）会议召集人：公司董事会。 （三）会议召开的合法、合规性：本次股东会会议的召集、召开符合相关法 律、行政法规、部门规章、规范性文件及《公司章程》的规定。 （四）会议召开日期、时间： 1、现场会议召开时间：2025年9月11日（星期四）下午14:00。 2、网络投票时间：通过深圳证券交易所交易系统进行网络投票的具体时间 为：2025年9月11日（星期四）上午9:15-9:25、9:30-11:30和下午13:00-15:00；通 过深圳证券交易所互联网投票系统投票的具 ...

浙江海森药业股份有限公司（以下简称"公司"）于2025年8月2日以钉钉及 电话通知的方式向全体监事发出了关于召开第三届监事会第十三次会议的通知， 会议于2025年8月13日在公司会议室以现场方式召开。本次会议由监事会主席韦 闯凡先生主持，应出席监事3名，实际出席监事3名，公司董事会秘书列席了本次 会议。本次会议的召集和召开符合《公司法》《公司章程》等有关规定，会议合 法、有效。 证券代码：001367 证券简称：海森药业 公告编号：2025-037 浙江海森药业股份有限公司 第三届监事会第十三次会议决议公告 本公司及监事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、监事会会议召开情况 二、监事会会议审议情况 1、审议通过《关于公司2025年半年度报告全文及摘要的议案》 经核查，监事会认为：董事会编制和审议《2025年半年度报告》和《2025年 半年度报告摘要》的程序符合法律、行政法规及中国证监会的规定，报告内容真 实、准确、完整地反映了公司2025年半年度经营的实际情况，不存在任何虚假记 载、误导性陈述或者重大遗漏。监事会同意公司董事会编制的《2025年半年度报 告 ...

[Section 1 Important Notice, Table of Contents, and Definitions](index=2&type=section&id=第一节%20重要提示、目录和释义) This section provides essential notices, the report's structure, and definitions of key terms for clarity [Important Notice](index=2&type=section&id=重要提示) The Board, Supervisory Committee, and senior management guarantee report accuracy and completeness, declaring no cash dividends or bonus shares - The company's Board of Directors, Supervisory Committee, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report[4](index=4&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital[5](index=5&type=chunk) - The report advises investors to pay attention to the risks and countermeasures described in "Management Discussion and Analysis" in Section III[4](index=4&type=chunk) [Table of Contents](index=3&type=section&id=目录) This section outlines the report's nine main chapters, covering company operations, finance, governance, and significant matters - The report is divided into nine main chapters, covering company operations, finance, governance, and significant matters[7](index=7&type=chunk) [List of Documents for Reference](index=4&type=section&id=备查文件目录) Reference documents, including signed financial statements and original announcements, are available at the Board of Directors' office - Financial statements signed and sealed by the company's responsible person, chief accountant, and head of accounting[9](index=9&type=chunk) - Originals of all company documents and announcements publicly disclosed during the reporting period[10](index=10&type=chunk) - Original text of the 2025 semi-annual report signed and sealed by the legal representative[11](index=11&type=chunk) - All reference documents are kept at the company's Board of Directors' office[12](index=12&type=chunk) [Definitions](index=5&type=section&id=释义) This section defines common terms used in the report, including company names, related parties, currency units, legal regulations, and industry-specific terminology - "Company," "the Company," and "Haisen Pharmaceutical" in the report all refer to Zhejiang Haisen Pharmaceutical Co., Ltd[13](index=13&type=chunk) - "Reporting period" refers to January 1, 2025, to June 30, 2025[13](index=13&type=chunk) - "Active Pharmaceutical Ingredient (API)" refers to the active drug component, "intermediate" refers to materials in API manufacturing steps, and "preparation" refers to the final drug product for patients[13](index=13&type=chunk) [Section 2 Company Profile and Key Financial Indicators](index=7&type=section&id=第二节%20公司简介和主要财务指标) This section introduces the company, its stock information, contact details, and presents key accounting data and financial indicators [I. Company Profile](index=7&type=section&id=一、公司简介) Zhejiang Haisen Pharmaceutical Co., Ltd., stock code 001367, is listed on the Shenzhen Stock Exchange, with Wang Shiyue as its legal representative - Stock Abbreviation: Haisen Pharmaceutical[17](index=17&type=chunk) - Stock Code: 001367[17](index=17&type=chunk) - Stock Exchange: Shenzhen Stock Exchange[17](index=17&type=chunk) - Legal Representative: Wang Shiyue[17](index=17&type=chunk) [II. Contact Person and Information](index=7&type=section&id=二、联系人和联系方式) The company's Board Secretary is Hu Kangkang, and the Securities Affairs Representative is Teng Fang, with contact details disclosed - Board Secretary: Hu Kangkang[18](index=18&type=chunk) - Securities Affairs Representative: Teng Fang[18](index=18&type=chunk) - Contact address, telephone, fax, and email information remain unchanged[18](index=18&type=chunk)[19](index=19&type=chunk)[20](index=20&type=chunk) [III. Other Information](index=7&type=section&id=三、其他情况) The company's registered address, office address, website, email, and information disclosure channels remained unchanged during the reporting period - Company contact information remained unchanged during the reporting period, as detailed in the 2024 annual report[19](index=19&type=chunk) - Information disclosure and storage locations remained unchanged during the reporting period, as detailed in the 2024 annual report[20](index=20&type=chunk) - Other relevant information remained unchanged during the reporting period[21](index=21&type=chunk) [IV. Key Accounting Data and Financial Indicators](index=7&type=section&id=四、主要会计数据和财务指标) Operating revenue increased by **14.93%** to **242.09 million yuan**, and net profit attributable to shareholders increased by **4.74%** to **60.79 million yuan** Key Accounting Data and Financial Indicators (Year-on-Year) | Indicator | Current Reporting Period (yuan) | Prior Year Period (yuan) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 242,085,860.34 | 210,636,845.09 | 14.93% | | Net Profit Attributable to Shareholders of Listed Company | 60,794,153.31 | 58,040,447.95 | 4.74% | | Net Profit Attributable to Shareholders of Listed Company After Deducting Non-Recurring Gains and Losses | 59,250,179.17 | 56,527,232.59 | 4.82% | | Net Cash Flow from Operating Activities | 74,326,633.58 | 75,145,660.42 | -1.09% | | Basic Earnings Per Share (yuan/share) | 0.41 | 0.39 | 5.13% | | Diluted Earnings Per Share (yuan/share) | 0.40 | 0.39 | 2.56% | | Weighted Average Return on Net Assets | 4.43% | 4.60% | -0.17% | | Total Assets (yuan) | 1,524,741,286.04 | 1,485,991,744.60 | 2.61% | | Net Assets Attributable to Shareholders of Listed Company (yuan) | 1,398,384,985.80 | 1,344,154,657.20 | 4.03% | - Net profit after deducting the impact of share-based payments was **70.35 million yuan**[22](index=22&type=chunk) [V. Differences in Accounting Data Under Domestic and Overseas Accounting Standards](index=8&type=section&id=五、境内外会计准则下会计数据差异) The company reported no differences in net profit and net assets between international/overseas accounting standards and Chinese accounting standards during the reporting period - The company reported no differences in net profit and net assets between financial reports disclosed under International Accounting Standards and Chinese Accounting Standards during the reporting period[23](index=23&type=chunk) - The company reported no differences in net profit and net assets between financial reports disclosed under overseas accounting standards and Chinese Accounting Standards during the reporting period[24](index=24&type=chunk) [VI. Non-Recurring Gains and Losses and Amounts](index=8&type=section&id=六、非经常性损益项目及金额) During the reporting period, the company's total non-recurring gains and losses amounted to **1.54 million yuan**, primarily from government subsidies and fair value changes Non-Recurring Gains and Losses and Amounts | Item | Amount (yuan) | | :--- | :--- | | Gains and losses from disposal of non-current assets | -204,663.86 | | Government subsidies recognized in current profit or loss | 1,479,474.51 | | Gains and losses from changes in fair value of financial assets and liabilities held by non-financial enterprises, and gains and losses from disposal of financial assets and liabilities, excluding effective hedge accounting related to normal business operations | 568,726.36 | | Other non-operating income and expenses apart from the above | -27,096.84 | | Less: Income tax impact | 272,466.03 | | Total | 1,543,974.14 | - The company has no other profit or loss items meeting the definition of non-recurring gains and losses, nor does it classify non-recurring items as recurring[27](index=27&type=chunk) [Section 3 Management Discussion and Analysis](index=10&type=section&id=第三节%20管理层讨论与分析) This section analyzes the company's main business, core competitiveness, financial performance, investment status, and risks, along with countermeasures [I. Main Business Activities During the Reporting Period](index=10&type=section&id=一、报告期内公司从事的主要业务) The company primarily engages in R&D, production, and sales of chemical APIs and intermediates, with revenue growing by **14.93%** and net profit by **4.74%** due to various strategic initiatives [(I) Industry Overview During the Reporting Period](index=10&type=section&id=（一）报告期内公司所处行业情况) The company operates in the high-barrier chemical API and intermediate manufacturing sector, benefiting from global market growth and supportive national policies, despite a slight industry downturn in H1 2025 - The company operates in the pharmaceutical manufacturing industry (C27), primarily producing chemical APIs and intermediates, characterized by high entry barriers and technical complexity[29](index=29&type=chunk) - IQVIA forecasts a global drug usage CAGR of **0.8%** from 2025-2029, with China's drug usage CAGR at **1.6%**, projected to reach **422 billion doses** by 2029[29](index=29&type=chunk) - National policies support pharmaceutical innovation and high-quality development, driving the industry's transformation from "scale expansion" to "value creation"[30](index=30&type=chunk) Key Financial Data of Pharmaceutical Manufacturing Industry, January-June 2025 | Indicator | Amount (100 million yuan) | Year-on-Year Change | | :--- | :--- | :--- | | Operating Revenue | 1,227.52 | -1.2% | | Operating Cost | 715.37 | -0.1% | | Total Profit | 176.69 | -2.8% | - Forward Industry Research Institute predicts China's chemical API market size will exceed **740 billion yuan** by 2029, with an average annual compound growth rate of **4.2%**[33](index=33&type=chunk) - In 2024, China's API export value reached **42.98 billion US dollars**, a year-on-year increase of **5.1%**; export volume was **14.91 million tons**, a year-on-year increase of **19.4%**[33](index=33&type=chunk) [(II) Company's Main Business and Products](index=11&type=section&id=（二）公司的主要业务及产品) As a high-tech enterprise, the company specializes in R&D, production, and sales of chemical APIs and intermediates, achieving **14.93%** revenue growth and **4.74%** net profit growth - The company primarily engages in the R&D, production, and sales of chemical APIs and intermediates, operating as a high-tech enterprise[34](index=34&type=chunk) - The company's product portfolio primarily consists of APIs for digestive, antipyretic-analgesic, and cardiovascular systems, supplemented by antibacterial and antidepressant APIs and preparations, with reserves of antiviral and NSAID specialty APIs and preparations[34](index=34&type=chunk) - Key products include sucralfate, metamizole sodium, atorvastatin calcium, and PHBA, all with high market shares[34](index=34&type=chunk) Key Financial Performance During the Reporting Period | Indicator | Amount (10,000 yuan) | Year-on-Year Growth | | :--- | :--- | :--- | | Operating Revenue | 24,208.59 | 14.93% | | Net Profit Attributable to Shareholders of Listed Company | 6,079.42 | 4.74% | | Net Profit After Deducting Non-Recurring Gains and Losses | 5,925.02 | 4.82% | | Net Profit After Deducting Share-Based Payment Impact | 7,034.89 | - | Company's Main Products | Category | Product Series | Product Name | Main Indications | | :--- | :--- | :--- | :--- | | API | Digestive System | Sucralfate | Treatment of gastric and duodenal ulcers, etc | | API | Cardiovascular System | Atorvastatin Calcium | For hypercholesterolemia and mixed hyperlipidemia; prevention of coronary heart disease and stroke | | API | Antipyretic-Analgesic | Metamizole Sodium | For fever reduction, also for acute arthritis, headache, rheumatic pain, toothache, and muscle pain | | API | Antipyretic-Analgesic | Antipyrine | Often used in compound preparations with other antipyretic-analgesics for fever and pain relief | | API | Antidepressant | Paroxetine Hydrochloride | Treatment of various types of depression and depressive disorders | | API | Antidepressant | Escitalopram Oxalate | Treatment of depression, panic disorder with or without agoraphobia | | API | Antibacterial | Pazufloxacin Mesilate | For treatment of Gram-positive and Gram-negative bacterial infections | | API | Analgesic | Parecoxib Sodium | Selective COX-2 inhibitor for short-term treatment of postoperative pain | | Intermediate | Antibacterial | PHBA | Amikacin Sulfate intermediate, with strong antibacterial activity against various bacteria | | Preparation | Antidepressant | Escitalopram Oxalate Tablets | For treatment of depression, panic disorder with or without agoraphobia | [(III) Business Model](index=12&type=section&id=（三）经营模式) The company's business model encompasses procurement, production, and sales, with direct sales for APIs/intermediates and distributor sales for preparations, covering both domestic and international markets - Procurement Model: Qualified suppliers are selected through evaluation and auditing, with competitive bidding or tender procurement to ensure product quality and reasonable pricing[40](index=40&type=chunk) - Production Model: Most products are manufactured according to production plans and max/min inventory systems, while a small number of special products are produced "to order," with full-process quality management by the Quality Management Department[42](index=42&type=chunk) - Sales Model: API and intermediate businesses are direct sales to manufacturers and traders; preparation business is primarily sold through traders and distributors, covering domestic and international markets[43](index=43&type=chunk)[44](index=44&type=chunk) [(IV) Company's Market Position in the Industry](index=13&type=section&id=（四）公司在行业中的市场地位) The company holds a leading position in the global generic drug market for sucralfate, metamizole sodium, atorvastatin calcium, and PHBA, leveraging high technical barriers and long-term client relationships - The company is one of the leading manufacturers of sucralfate, metamizole sodium, atorvastatin calcium APIs, and PHBA intermediates globally and domestically, with high market share and industry recognition[46](index=46&type=chunk) - Sucralfate products maintain a leading position in the global market, characterized by stable, green, and environmentally friendly synthesis processes, high product quality, and low comprehensive costs[46](index=46&type=chunk) - Atorvastatin calcium products have a high domestic market share, and the company is actively expanding into international markets[46](index=46&type=chunk) - Metamizole sodium series products require high environmental and safety control during synthesis, and the company is one of the few manufacturers with a high market share[47](index=47&type=chunk) - PHBA has over twenty years of production experience, mature process technology, high market recognition, and steady sales growth[47](index=47&type=chunk) - The company actively promotes regional centralized procurement for Escitalopram Oxalate Tablets (Taiqi) to boost product sales[47](index=47&type=chunk) - The company has received multiple honors, including "Specialized, Refined, Unique, and Innovative" SME in Zhejiang Province and Jinhua City's Golden Star Award for Excellent Enterprises[48](index=48&type=chunk) [(V) Key Performance Drivers](index=14&type=section&id=（五）主要的业绩驱动因素) Performance growth was driven by optimized production, expanded domestic and international sales (international sales up **53.04%**), increased R&D investment (**52.83%** growth), enhanced quality control, strategic governance, cost management, human resource optimization, new project construction, and digital transformation - Production: Optimized capacity ensures stable supply, with sufficient market orders for main products and active promotion of product upgrades[50](index=50&type=chunk)[51](index=51&type=chunk) - Sales: Market expansion drives performance growth, with API business sales increasing by **13.94%** and intermediate business sales by **29.24%** year-on-year[52](index=52&type=chunk) - International market expansion achieved significant results, with overseas sales increasing by **53.04%** year-on-year[52](index=52&type=chunk) - Innovation: Dedicated R&D drives technological innovation, with R&D expenses of **17.71 million yuan**, accounting for **7.32%** of operating revenue, a year-on-year increase of **52.83%**[53](index=53&type=chunk) - As of the end of the reporting period, the company had **17** R&D projects in progress, covering antiviral, antidepressant, and lipid-lowering fields, and had obtained **25** patents[53](index=53&type=chunk)[54](index=54&type=chunk) - Quality: System improvement enhances control, with a quality management system established in strict accordance with Chinese, European, American, Japanese, and Korean GMP standards, undergoing **30** audits during the reporting period[56](index=56&type=chunk)[57](index=57&type=chunk) - Governance: Structural adjustment and strategic planning guide development, initiating internal oversight body adjustments, revising internal control systems, and formulating the first five-year strategic plan post-listing[58](index=58&type=chunk) - Management: Cost control achieves quality and efficiency improvements through multi-dimensional efforts including process innovation, optimized procurement channels, strengthened inventory management, and energy conservation[59](index=59&type=chunk) - Human Resources: Sound mechanisms optimize human resources, building a scientific and efficient human resource management system encompassing talent acquisition and development, performance management, and employee care[60](index=60&type=chunk)[61](index=61&type=chunk) - Construction: Prioritized projects develop new quality productive forces, advancing the "Haisen Pharmaceutical New Plant Project (Phase I)" and "R&D Center and Comprehensive Office Building Project," with the latter expected to be operational by the end of September 2025[62](index=62&type=chunk) - Digital Intelligence: Efficient collaboration empowers high-quality development, comprehensively advancing three core digital transformation projects: infrastructure optimization, business middle platform construction, and data middle platform construction, exploring enterprise AI applications[64](index=64&type=chunk) [II. Core Competitiveness Analysis](index=19&type=section&id=二、核心竞争力分析) The company's core competitiveness stems from its international strategy, rich product pipeline, innovation, sustainable development practices, stringent quality control, and resilient supply chain [(I) Continuously Advancing Internationalization Strategy](index=19&type=section&id=（一）持续推进国际化战略) The company has established long-term partnerships with global clients for over 20 years and expanded its product sales to nearly a hundred countries and regions worldwide - The company has collaborated with several strategic clients for over **20 years**, establishing long-term stable partnerships with global leaders like TEVA[65](index=65&type=chunk) - The company participates in domestic and international professional exhibitions annually, expanding into regions such as West Africa, South Korea, and Saudi Arabia in recent years, with product sales covering nearly **100** countries worldwide[66](index=66&type=chunk) [(II) Continuously Enriched Product Pipeline](index=19&type=section&id=（二）不断丰富的产品管线) The company boasts a diverse API and intermediate product line across various therapeutic areas, actively pursuing regional centralized procurement and new product R&D to leverage its API-preparation integration advantage - The company possesses a rich portfolio of APIs and intermediates for digestive, antipyretic-analgesic, cardiovascular, antidepressant, and antibacterial drugs, featuring both diverse product types and prominent flagship products[67](index=67&type=chunk) - The company enhances preparation sales and new product reserves by actively participating in regional centralized procurement for existing varieties and advancing new product R&D, leveraging its API-preparation integration advantage[67](index=67&type=chunk) [(III) Accelerating Innovation Investment and Achievement Transformation](index=19&type=section&id=（三）加速创新投入与成果转化) The company consistently increases R&D investment, leveraging multiple provincial-level technical platforms and industry-academia collaborations to develop leading process technologies and facilitate technology transfer - The company continuously increases investment in scientific research and innovation for new product and process development, equipment procurement, and infrastructure construction[68](index=68&type=chunk) - The company possesses multiple R&D platforms, including a provincial-level enterprise technology center and Haisen Pharmaceutical's provincial high-tech enterprise R&D center for cardiovascular and cerebrovascular drugs, and collaborates with universities and research institutions[68](index=68&type=chunk)[69](index=69&type=chunk) - Subsidiary Haisen Research Institute closely collaborates with the company's headquarters R&D center, efficiently integrating R&D resources and enhancing R&D synergy[69](index=69&type=chunk) - The company possesses several leading process technologies, such as sucralfate synthesis, enzyme-catalyzed reactions, and solvent recovery, demonstrating strong capabilities in scientific and technological achievement transformation[69](index=69&type=chunk) [(IV) Actively Practicing Sustainable Development](index=20&type=section&id=（四）积极践行可持续发展) The company integrates process innovation with environmental treatment technologies, operating advanced wastewater and exhaust gas treatment systems, and maintaining a robust EHS management system - The company integrates process innovation with environmental treatment technologies, developing chemical denitrification, biological denitrification, and membrane treatment for wastewater, and is committed to breakthroughs in green technologies like microchannel and pipeline reactors[70](index=70&type=chunk) - The company operates a comprehensive wastewater treatment system with a capacity of **1,500 tons/day** and an RTO exhaust gas treatment system with a capacity of **20,000 cubic meters/hour**, and recycles waste acids and organic solvents generated during production[70](index=70&type=chunk) - The company has established an EHS management system deeply integrated with its operations, enhancing employee safety literacy and capabilities through online and offline safety training[71](index=71&type=chunk) [(V) Strict Quality Control System](index=20&type=section&id=（五）严格的质量控制体系) The company maintains a GMP-compliant quality management system, equipped with advanced analytical instruments and experienced personnel, with key products certified by multiple international authorities - The company possesses a GMP quality management system compliant with US FDA, EU EDQM, China NMPA, and ICH standards, and strictly adheres to GMP regulations[72](index=72&type=chunk) - The company's main products have passed national GMP certification, Korean MFDS certification, US FDA on-site inspections, Mexican COFEPRIS inspections, and obtained European CEP certificates[72](index=72&type=chunk)[73](index=73&type=chunk) [(VI) Highly Resilient Production Supply Chain](index=21&type=section&id=（六）高韧性的生产供应链) The company is enhancing its production capabilities through new plant construction and upgrades, while optimizing procurement management to ensure a stable and cost-competitive supply chain - The company accelerates high-end capacity construction, building new pilot workshops and a new plant, and continuously upgrading old workshops to enhance overall manufacturing capabilities[74](index=74&type=chunk) - The company has established a comprehensive procurement management system, reducing raw material procurement costs and ensuring supply chain stability through strategic cooperation, centralized procurement, and multi-round competitive bidding[74](index=74&type=chunk) [III. Main Business Analysis](index=21&type=section&id=三、主营业务分析) The company's main business performed well, with operating revenue up **14.93%** and operating costs up **8.00%**. Increased management and R&D expenses were due to share-based payments and staff compensation, while overseas sales significantly grew by **53.04%** [Year-on-Year Changes in Key Financial Data](index=21&type=section&id=主要财务数据同比变动情况) Operating revenue increased by **14.93%**, and operating costs by **8.00%**. Management and R&D expenses rose by **29.34%** and **52.83%** respectively, mainly due to share-based payments and staff compensation, while net cash flow from investing activities saw a significant outflow of **118.49%** Year-on-Year Changes in Key Financial Data | Indicator | Current Reporting Period (yuan) | Prior Year Period (yuan) | Year-on-Year Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 242,085,860.34 | 210,636,845.09 | 14.93% | - | | Operating Cost | 134,299,857.47 | 124,355,922.08 | 8.00% | - | | Selling Expenses | 6,736,212.56 | 6,004,616.21 | 12.18% | - | | Administrative Expenses | 15,493,232.38 | 11,978,247.96 | 29.34% | Primarily due to increased share-based payments and employee compensation | | Financial Expenses | -3,853,425.12 | -10,884,026.95 | 64.60% | Primarily due to decreased interest income | | Income Tax Expense | 9,699,843.31 | 8,960,123.44 | 8.26% | - | | R&D Investment | 17,710,879.40 | 11,588,314.81 | 52.83% | Primarily due to increased share-based payments and employee compensation | | Net Cash Flow from Operating Activities | 74,326,633.58 | 75,145,660.42 | -1.09% | - | | Net Cash Flow from Investing Activities | -611,547,576.23 | -279,891,797.73 | -118.49% | Primarily due to increased purchases of wealth management products and construction of fixed assets and intangible assets | | Net Cash Flow from Financing Activities | -17,451,010.00 | -33,113,521.46 | 47.30% | Primarily due to decreased cash dividends | | Net Increase in Cash and Cash Equivalents | -553,505,653.23 | -236,075,170.79 | -134.46% | Primarily due to the use of idle funds to purchase wealth management products in the current period | - There were no significant changes in the company's profit composition or sources during the reporting period[78](index=78&type=chunk) [Operating Revenue Composition](index=22&type=section&id=营业收入构成) Total operating revenue reached **242.09 million yuan**, with APIs and intermediates as primary drivers. Overseas sales surged by **53.04%**, increasing their share to **55.61%**, while domestic sales declined Operating Revenue Composition (by Product and Region) | Category | Amount for Current Reporting Period (yuan) | Proportion of Operating Revenue | Amount for Prior Year Period (yuan) | Proportion of Operating Revenue | Year-on-Year Change | | :--- | :--- | :--- | :--- | :--- | :--- | | **Total Operating Revenue** | **242,085,860.34** | **100%** | **210,636,845.09** | **100%** | **14.93%** | | **By Industry** | | | | | | | Pharmaceutical Manufacturing | 242,085,860.34 | 100.00% | 210,636,845.09 | 100.00% | 14.93% | | **By Product** | | | | | | | API Business | 207,275,090.20 | 85.62% | 181,914,375.98 | 86.36% | 13.94% | | Intermediate Business | 28,760,815.93 | 11.88% | 22,253,143.30 | 10.56% | 29.24% | | Preparation Business | 4,865,651.28 | 2.01% | 5,409,497.31 | 2.57% | -10.05% | | Other Businesses | 1,184,302.93 | 0.49% | 1,059,828.50 | 0.50% | 11.74% | | **By Region** | | | | | | | Domestic | 107,456,971.67 | 44.39% | 122,664,356.50 | 58.23% | -12.40% | | Overseas | 134,628,888.67 | 55.61% | 87,972,488.59 | 41.77% | 53.04% | Industry, Product, or Region Accounting for Over 10% of Company's Operating Revenue or Operating Profit | Category | Operating Revenue (yuan) | Operating Cost (yuan) | Gross Profit Margin | Year-on-Year Change in Operating Revenue | Year-on-Year Change in Operating Cost | Year-on-Year Change in Gross Profit Margin | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **By Industry** | | | | | | | | Pharmaceutical Manufacturing | 242,085,860.34 | 134,299,857.47 | 44.52% | 14.93% | 8.00% | 3.56% | | **By Product** | | | | | | | | API Business | 207,275,090.20 | 115,399,734.73 | 44.33% | 13.94% | 6.24% | 4.04% | | Intermediate Business | 28,760,815.93 | 15,119,325.38 | 47.43% | 29.24% | 25.02% | 1.78% | | Preparation Business | 4,865,651.28 | 2,174,682.82 | 55.31% | -10.05% | 3.78% | -5.95% | | Other Businesses | 1,184,302.93 | 1,606,114.54 | -35.62% | 11.74% | 3.63% | 10.62% | | **By Region** | | | | | | | | Domestic | 107,456,971.67 | 61,258,608.99 | 42.99% | -12.40% | -20.57% | 5.86% | | Overseas | 134,628,888.67 | 73,041,248.48 | 45.75% | 53.04% | 54.63% | -0.56% | [IV. Non-Main Business Analysis](index=22&type=section&id=四、非主营业务分析) The company had no non-main business activities during the reporting period - The company had no non-main business activities during the reporting period[80](index=80&type=chunk) [V. Analysis of Assets and Liabilities](index=22&type=section&id=五、资产及负债状况分析) Total assets increased to **1.52 billion yuan**, with a **37.64%** decrease in monetary funds offset by a **490 million yuan** increase in transactional financial assets. Total liabilities decreased by **10.91%** to **126 million yuan** [1. Significant Changes in Asset Composition](index=22&type=section&id=1、资产构成重大变动情况) Monetary funds decreased by **37.64%** due to the purchase of wealth management products, leading to a **490 million yuan** increase in transactional financial assets, now **32.14%** of total assets. Intangible assets increased by **6.40%** due to land use rights Significant Changes in Asset Composition | Item | Amount at End of Current Reporting Period (yuan) | Proportion of Total Assets | Amount at End of Prior Year (yuan) | Proportion of Total Assets | Change in Proportion | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 487,551,459.05 | 31.98% | 1,034,482,112.28 | 69.62% | -37.64% | Primarily due to the use of idle funds to purchase wealth management products in the current period | | Accounts Receivable | 60,012,921.77 | 3.94% | 53,503,407.03 | 3.60% | 0.34% | - | | Inventories | 118,904,947.84 | 7.80% | 115,478,661.89 | 7.77% | 0.03% | - | | Investment Properties | 3,714,957.76 | 0.24% | 3,858,590.38 | 0.26% | -0.02% | - | | Fixed Assets | 121,291,633.06 | 7.95% | 119,566,404.42 | 8.05% | -0.10% | - | | Construction in Progress | 83,137,071.70 | 5.45% | 73,592,558.64 | 4.95% | 0.50% | - | | Right-of-Use Assets | 8,011,733.47 | 0.53% | 8,352,288.77 | 0.56% | -0.03% | - | | Contract Liabilities | 7,831,454.30 | 0.51% | 7,918,386.30 | 0.53% | -0.02% | - | | Lease Liabilities | 7,385,847.61 | 0.48% | 6,981,659.93 | 0.47% | 0.01% | - | | Transactional Financial Assets | 490,000,000.00 | 32.14% | - | - | 32.14% | Primarily due to the use of idle funds to purchase wealth management products in the current period | | Intangible Assets | 118,286,570.19 | 7.76% | 20,141,826.15 | 1.36% | 6.40% | Primarily due to increased land use rights in the current period | [2. Major Overseas Assets](index=23&type=section&id=2、主要境外资产情况) The company had no major overseas assets during the reporting period - The company had no major overseas assets during the reporting period[83](index=83&type=chunk) [3. Assets and Liabilities Measured at Fair Value](index=23&type=section&id=3、以公允价值计量的资产和负债) At the end of the reporting period, financial assets measured at fair value totaled **498 million yuan**, mainly comprising **490 million yuan** in transactional financial assets (wealth management products) and **7.86 million yuan** in accounts receivable financing Assets and Liabilities Measured at Fair Value | Item | Beginning Balance (yuan) | Amount Purchased in Current Period (yuan) | Amount Sold in Current Period (yuan) | Ending Balance (yuan) | | :--- | :--- | :--- | :--- | :--- | | Transactional Financial Assets | - | 828,000,000.00 | 338,000,000.00 | 490,000,000.00 | | Accounts Receivable Financing | 31,417,799.00 | 59,757,088.76 | 83,319,138.65 | 7,855,749.11 | | **Total Above** | **31,417,799.00** | **887,757,088.76** | **421,319,138.65** | **497,855,749.11** | - There were no significant changes in the measurement attributes of the company's major assets during the reporting period[84](index=84&type=chunk) [4. Asset Restrictions as of the End of the Reporting Period](index=24&type=section&id=4、截至报告期末的资产权利受限情况) As of the end of the reporting period, restricted assets totaled **33.77 million yuan**, primarily monetary funds for bill deposits and fixed/intangible assets pledged for bill issuance Asset Restrictions | Item | Carrying Amount at Period End (yuan) | Book Value at Period End (yuan) | Type of Restriction | Restriction Details | | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 6,575,000.00 | 6,575,000.00 | Deposit | Bill deposit | | Fixed Assets | 19,041,783.69 | 12,224,714.44 | Mortgage | Pledged as collateral for bill issuance | | Intangible Assets | 18,082,803.97 | 14,969,780.16 | Mortgage | Pledged as collateral for bill issuance | | **Total** | **43,699,587.66** | **33,769,494.60** | - | - | [VI. Investment Analysis](index=24&type=section&id=六、投资状况分析) The company had no significant equity or financial asset investments. Major non-equity investments include the new plant project (Phase I), with **1.03 million yuan** invested. Total raised funds utilization was **20.71%**, with **55.80 million yuan** unused [1. Overall Situation](index=24&type=section&id=1、总体情况) The company had no significant investment activities during the reporting period - The company had no significant investment activities during the reporting period[87](index=87&type=chunk) [2. Significant Equity Investments Acquired During the Reporting Period](index=24&type=section&id=2、报告期内获取的重大的股权投资情况) The company made no significant equity investments during the reporting period - The company made no significant equity investments during the reporting period[87](index=87&type=chunk) [3. Significant Non-Equity Investments in Progress During the Reporting Period](index=24&type=section&id=3、报告期内正在进行的重大的非股权投资情况) The company's significant non-equity investment is the "New Plant Project Phase I (Non-IPO Funded Portion)," a self-built project in pharmaceutical manufacturing, with **1.03 million yuan** invested to date Significant Non-Equity Investments | Project Name | Investment Method | Is it a Fixed Asset Investment | Industry Involved in Investment | Amount Invested in Current Reporting Period (yuan) | Cumulative Actual Investment Amount as of Period End (yuan) | Source of Funds | Project Progress | Estimated Return (yuan) | Cumulative Realized Return as of Period End (yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | New Plant Project Phase I (Non-IPO Funded Portion) | Self-built | Yes | Pharmaceutical Manufacturing | 0.00 | 1,030,342.41 | Own Funds | 0.06% | 0.00 | 0.00 | [4. Financial Asset Investments](index=25&type=section&id=4、金融资产投资) The company had no securities or derivative investments during the reporting period - The company had no securities investments during the reporting period[90](index=90&type=chunk) - The company had no derivative investments during the reporting period[91](index=91&type=chunk) [5. Use of Raised Funds](index=25&type=section&id=5、募集资金使用情况) The company's net proceeds from its initial public offering were **675.72 million yuan**. As of the reporting period end, **139.93 million yuan** has been used, with **557.95 million yuan** remaining, representing a **20.71%** utilization rate. Some projects were delayed, and one was re-purposed Overall Use of Raised Funds | Fundraising Year | Fundraising Method | Net Raised Funds (1) (yuan) | Total Raised Funds Cumulatively Used (2) (yuan) | Raised Funds Utilization Ratio at Period End (3)=(2)/(1) | Total Raised Funds with Changed Purpose (yuan) | Proportion of Total Raised Funds with Changed Purpose | Total Unused Raised Funds (yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | 2023 | Initial Public Offering | 675,718,479.84 | 139,934,500.00 | 20.71% | 32,000,000.00 | 47.36% | 557,950,100.00 | | **Total** | - | **675,718,479.84** | **139,934,500.00** | **20.71%** | **32,000,000.00** | **47.36%** | **557,950,100.00** | - The company's net proceeds from its initial public offering amounted to **675.72 million yuan**[95](index=95&type=chunk) - As of June 30, 2025, the company had cumulatively used **139.93 million yuan**, with **557.95 million yuan** of raised funds remaining unused (including net wealth management income and interest income of **22.17 million yuan**)[96](index=96&type=chunk) Status of Committed Projects Funded by Raised Funds | Project Name | Total Committed Investment of Raised Funds (10,000 yuan) | Adjusted Total Investment (1) (10,000 yuan) | Cumulative Investment Amount as of Period End (2) (10,000 yuan) | Investment Progress as of Period End (3)=(2)/(1) | Date Project Reaches Intended Usable State | Achieved Expected Benefits | Significant Change in Project Feasibility | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | R&D Center and Comprehensive Office Building Project | 11,546.11 | 11,546.11 | 7,009.22 | 60.71% | 2025 年 09 月 30 日 | Not Applicable | No | | Technical Transformation Project for 200 Tons/Year Atorvastatin Calcium and Other API Production Lines | 32,000.00 | 0 | 0 | 0.00% | - | Not Applicable | No | | Project for 300 Tons/Year A-40 (Atorvastatin Calcium) and Other Specialty API Production | 0 | 36,644.94 | 25.70 | 0.07% | 2027 年 12 月 31 日 | Not Applicable | No | | Replenishment of Working Capital | 16,500.00 | 16,500.00 | 2,958.53 | 17.93% | - | Not Applicable | No | | **Subtotal of Committed Investment Projects** | **60,046.11** | **64,691.05** | **9,993.45** | - | - | - | - | | **Use of Over-Raised Funds** | | | | | | | | | Replenishment of Working Capital | 4,000.00 | 4,000.00 | 4,000.00 | 100.00% | - | Not Applicable | No | | Unallocated Over-Raised Funds Amount 2 | 3,525.74 | 0 | 0 | 0.00% | - | Not Applicable | No | | **Subtotal of Over-Raised Funds Use** | **7,525.74** | **4,000.00** | **4,000.00** | - | - | - | - | | **Total** | **67,571.85** | **68,691.05** | **13,993.45** | - | **0** | **0** | - | - The "R&D Center and Comprehensive Office Building Project" completion date was extended from the original March 31, 2025, to September 30, 2025[99](index=99&type=chunk) - The original IPO-funded project "Technical Transformation Project for 200 Tons/Year Atorvastatin Calcium and Other API Production Lines" was changed to "Project for 300 Tons/Year A-40 (Atorvastatin Calcium) and Other Specialty API Production" to address market demand and existing plant space limitations[99](index=99&type=chunk)[103](index=103&type=chunk) - Total over-raised funds amounted to **75.26 million yuan**, of which **40 million yuan** was permanently transferred to working capital, and **35.26 million yuan** was allocated to the "Project for 300 Tons/Year A-40 (Atorvastatin Calcium) and Other Specialty API Production"[99](index=99&type=chunk) [VII. Significant Asset and Equity Disposals](index=30&type=section&id=七、重大资产和股权出售) The company did not dispose of any significant assets or equity during the reporting period - The company did not dispose of any significant assets during the reporting period[105](index=105&type=chunk) - The company did not dispose of any significant equity during the reporting period[106](index=106&type=chunk) [VIII. Analysis of Major Holding and Participating Companies](index=30&type=section&id=八、主要控股参股公司分析) Major subsidiaries include Dongyang Haisen Trading Co., Ltd. and Hangzhou Haisen Pharmaceutical Research Institute Co., Ltd., which reported net losses of **93,255.29 yuan** and **2,566,528.19 yuan** respectively Financial Status of Major Subsidiaries | Company Name | Company Type | Main Business | Registered Capital (yuan) | Total Assets (yuan) | Net Assets (yuan) | Operating Revenue (yuan) | Operating Profit (yuan) | Net Profit (yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Dongyang Haisen Trading Co., Ltd. | Subsidiary | Trading | 1,000,000.00 | 1,140,863.34 | -1,479,508.20 | 0.00 | -93,255.29 | -93,255.29 | | Hangzhou Haisen Pharmaceutical Research Institute Co., Ltd. | Subsidiary | Medical Research and Experimental Development | 30,000,000.00 | 29,954,570.31 | 18,744,318.97 | 1,440,000.00 | -2,566,528.19 | -2,566,528.19 | - The company neither acquired nor disposed of any subsidiaries during the reporting period[107](index=107&type=chunk) [IX. Structured Entities Controlled by the Company](index=30&type=section&id=九、公司控制的结构化主体情况) The company had no controlled structured entities during the reporting period - The company had no controlled structured entities during the reporting period[108](index=108&type=chunk) [X. Risks Faced by the Company and Countermeasures](index=31&type=section&id=十、公司面临的风险和应对措施) The company faces risks including high product concentration, raw material price volatility, IPO project underperformance, EHS issues, metamizole sodium restrictions, exchange rate fluctuations, and R&D uncertainties, addressed through strategic product focus, procurement optimization, and robust management - Product Concentration Risk: Main products are sucralfate, metamizole sodium, atorvastatin calcium, and PHBA; adverse market changes would impact performance. Countermeasures: Focus on advantageous products, prioritize new product R&D and promotion[109](index=109&type=chunk)[110](index=110&type=chunk) - Raw Material Supply and Price Volatility Risk: High concentration in raw material procurement, price fluctuations affect profitability. Countermeasures: Long-term cooperation with large-scale suppliers, adjusting procurement plans and pricing strategies, optimizing production processes and inventory management[111](index=111&type=chunk) - IPO Project Underperformance Risk: Project implementation may face uncertainties such as industrial policy and market environment changes. Countermeasures: Prudently manage IPO projects, timely adjust capital investment, accelerate R&D achievement commercialization and market expansion[112](index=112&type=chunk) - Safety Production and Environmental Risk: Production involves flammable, explosive, and toxic substances, potentially generating pollutants. Countermeasures: Continuously advance EHS management system construction, increase investment in safety and environmental protection facilities, and enhance management and treatment capabilities[113](index=113&type=chunk) - Metamizole Sodium Product Restriction Risks (Policy, Business, Compliance) Domestically and Internationally: Domestic and international policy restrictions may affect metamizole sodium business. Countermeasures: Optimize metamizole sodium market, strengthen overseas development, improve product structure, increase revenue share of non-metamizole sodium products, and enhance new product development[114](index=114&type=chunk)[115](index=115&type=chunk) - Exchange Rate Fluctuation Risk: Export business settled in US dollars, exchange rate fluctuations generate exchange gains or losses. Countermeasures: Closely monitor exchange rate trends, respond through timely foreign exchange settlement and sales, forward foreign exchange purchases, and foreign exchange options[116](index=116&type=chunk) - Product R&D Underperformance Risk: Pharmaceutical R&D has long cycles, high costs, and many uncertainties. Countermeasures: Establish a comprehensive R&D system, attract high-quality R&D talent, strengthen full-process management, and adopt a combination of independent and collaborative R&D models[117](index=117&type=chunk) [XI. Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan](index=32&type=section&id=十一、市值管理制度和估值提升计划的制定落实情况) The company has not formulated a market value management system nor disclosed a valuation enhancement plan - The company has not formulated a market value management system[118](index=118&type=chunk) - The company has not disclosed a valuation enhancement plan[118](index=118&type=chunk) [XII. Implementation of "Quality and Return Dual Enhancement" Action Plan](index=32&type=section&id=十二、“质量回报双提升”行动方案贯彻落实情况) The company has not disclosed an announcement regarding the "Quality and Return Dual Enhancement" action plan - The company has not disclosed an announcement regarding the "Quality and Return Dual Enhancement" action plan[118](index=118&type=chunk) [Section 4 Corporate Governance, Environment, and Society](index=33&type=section&id=第四节%20公司治理、环境和社会) This section covers changes in governance, profit distribution, equity incentives, environmental disclosures, and social responsibility initiatives [I. Changes in Directors, Supervisors, and Senior Management](index=33&type=section&id=一、公司董事、监事、高级管理人员变动情况) There were no changes in the company's directors, supervisors, and senior management during the reporting period - There were no changes in the company's directors, supervisors, and senior management during the reporting period[120](index=120&type=chunk) [II. Profit Distribution and Capital Reserve Conversion to Share Capital in Current Reporting Period](index=33&type=section&id=二、本报告期利润分配及资本公积金转增股本情况) The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the semi-annual period - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the semi-annual period[121](index=121&type=chunk) [III. Implementation of Company's Equity Incentive Plan, Employee Stock Ownership Plan, or Other Employee Incentive Measures](index=33&type=section&id=三、公司股权激励计划、员工持股计划或其他员工激励措施的实施情况) The company implemented its 2024 Restricted Stock Incentive Plan in September 2024, granting **2.013 million** restricted shares to **85** incentive recipients at **12.65 yuan/share**, with registration completed in October 2024 - On September 12, 2024, the company's Board of Directors and Supervisory Committee approved the "2024 Restricted Stock Incentive Plan (Draft)"[122](index=122&type=chunk) - On September 30, 2024, the company's general meeting of shareholders approved the incentive plan[123](index=123&type=chunk) - On October 30, 2024, the company completed the initial grant registration, granting **2.013 million** restricted shares to **85** incentive recipients at a grant price of **12.65 yuan/share**[125](index=125&type=chunk) - The incentive plan has met the company-level performance assessment requirements for 2024[130](index=130&type=chunk) [IV. Environmental Information Disclosure](index=34&type=section&id=四、环境信息披露情况) Zhejiang Haisen Pharmaceutical Co., Ltd. is listed as an enterprise required to disclose environmental information and has done so on the Zhejiang Provincial Department of Ecology and Environment website - The company is included in the list of enterprises required to disclose environmental information by law[126](index=126&type=chunk) - The environmental information disclosure report is available on the website of the Zhejiang Provincial Department of Ecology and Environment[126](index=126&type=chunk) [V. Social Responsibility](index=34&type=section&id=五、社会责任情况) The company upholds social responsibility through good governance, investor communication, employee welfare, robust supplier/customer management, strict quality control, EHS protection, and active participation in social welfare - Shareholder Rights Protection: Improve corporate governance structure, enhance information disclosure quality, communicate with investors through performance briefings and interactive platforms, and implement the 2024 annual profit distribution plan[128](index=128&type=chunk)[129](index=129&type=chunk) - Employee Rights Protection: Strictly enforce national employment regulations, safeguard legitimate employee rights, implement the 2024 Restricted Stock Incentive Plan, and continuously improve the compensation system, conduct education and training, and employee care activities[130](index=130&type=chunk) - Protection of Customer and Supplier Rights: Adhere to a win-win cooperation philosophy, establish a comprehensive supplier management system, continuously enhance R&D innovation capabilities and product quality, and conduct regular customer satisfaction surveys[131](index=131&type=chunk) - Pharmaceutical Quality Management and Control: Highly prioritize quality management, establishing a comprehensive quality management system comprising quality inspection, production quality control, product stability and user feedback management, and GMP training[132](index=132&type=chunk) - Environmental and Occupational Health and Safety Protection: Strictly comply with national and local regulations, establish and improve safety, environmental, and health management systems, strengthen on-site management, promote energy-saving technologies, and conduct regular safety production inspections[134](index=134&type=chunk) - Public Relations and Social Welfare: Adhere to lawful operation, honesty, integrity, and tax compliance, actively engage in social welfare, conduct charitable activities, assist employees and individuals in need, and sponsor community elderly association activities[135](index=135&type=chunk) [Section 5 Significant Matters](index=37&type=section&id=第五节%20重要事项) This section details commitments, fund occupation, guarantees, audit reports, litigation, penalties, integrity, related party transactions, and significant contracts [I. Fulfilled and Overdue Unfulfilled Commitments by Controlling Shareholder, Shareholders, Related Parties, Acquirers, and the Company During and as of the End of the Reporting Period](index=37&type=section&id=一、公司实际控制人、股东、关联方、收购人以及公司等承诺相关方在报告期内履行完毕及截至报告期末超期未履行完毕的承诺事项) The company reported no overdue unfulfilled commitments by controlling shareholders, shareholders, related parties, acquirers, or the company during or as of the end of the reporting period - The company reported no overdue unfulfilled commitments by relevant parties during the reporting period[137](index=137&type=chunk) [II. Non-Operating Fund Occupation by Controlling Shareholder and Other Related Parties](index=37&type=section&id=二、控股股东及其他关联方对上市公司的非经营性占用资金情况) The company reported no non-operating fund occupation by controlling shareholders or other related parties during the reporting period - The company reported no non-operating fund occupation by controlling shareholders or other related parties during the reporting period[138](index=138&type=chunk) [III. Irregular External Guarantees](index=37&type=section&id=三、违规对外担保情况) The company had no irregular external guarantees during the reporting period - The company had no irregular external guarantees during the reporting period[139](index=139&type=chunk) [IV. Appointment and Dismissal of Accounting Firms](index=37&type=section&id=四、聘任、解聘会计师事务所情况) The company's semi-annual financial report was unaudited - The company's semi-annual financial report was unaudited[140](index=140&type=chunk) [V. Board of Directors' and Supervisory Committee's Explanation on "Non-Standard Audit Report" for the Current Reporting Period](index=37&type=section&id=五、董事会、监事会对会计师事务所本报告期“非标准审计报告”的说明) The company had no non-standard audit report during the reporting period - The company had no non-standard audit report during the reporting period[141](index=141&type=chunk) [VI. Board of Directors' Explanation on "Non-Standard Audit Report" for the Previous Year](index=37&type=section&id=六、董事会对上年度“非标准审计报告”相关情况的说明) The company had no non-standard audit report during the reporting period - The company had no non-standard audit report during the reporting period[141](index=141&type=chunk) [VII. Bankruptcy and Reorganization Matters](index=37&type=section&id=七、破产重整相关事项) The company had no bankruptcy or reorganization matters during the reporting period - The company had no bankruptcy or reorganization matters during the reporting period[141](index=141&type=chunk) [VIII. Litigation Matters](index=37&type=section&id=八、诉讼事项) The company had no significant litigation or arbitration matters during the reporting period - The company had no significant litigation or arbitration matters during the reporting period[142](index=142&type=chunk) [IX. Penalties and Rectification](index=38&type=section&id=九、处罚及整改情况) The company had no penalties or rectification situations during the reporting period - The company had no penalties or rectification situations during the reporting period[143](index=143&type=chunk) [X. Integrity Status of the Company, its Controlling Shareholder, and Actual Controller](index=38&type=section&id=十、公司及其控股股东、实际控制人的诚信状况) The company, its controlling shareholder, and actual controller maintained good integrity during the reporting period, with no unfulfilled court judgments or overdue large debts - During the reporting period, the company, its controlling shareholder, and actual controller had no unfulfilled effective court judgments or large overdue debts[144](index=144&type=chunk) [XI. Significant Related Party Transactions](index=38&type=section&id=十一、重大关联交易) The company had no significant related party transactions concerning daily operations, asset/equity acquisition/disposal, joint external investments, or related party creditor/debtor relationships. However, it renewed a property lease with Dongyang Haisen Health Products Co., Ltd - The company had no related party transactions related to daily operations during the reporting period[145](index=145&type=chunk) - The company had no related party transactions involving asset or equity acquisition/disposal during the reporting period[146](index=146&type=chunk) - The company had no related party transactions involving joint external investments during the reporting period[147](index=147&type=chunk) - The company had no related party creditor or debtor relationships during the reporting period[148](index=148&type=chunk) - The company renewed a property lease contract with related party Dongyang Haisen Health Products Co., Ltd. for **8 years**, with annual rent ranging from **1.3615 million yuan** to **1.4976 million yuan**[151](index=151&type=chunk)[152](index=152&type=chunk) [XII. Significant Contracts and Their Performance](index=39&type=section&id=十二、重大合同及其履行情况) The company had no significant entrustment, contracting, or guarantee situations. It engaged in wealth management totaling **490 million yuan** and signed an investment cooperation agreement for the "Haisen Pharmaceutical New Plant Project" with Dongyang Economic Development Zone Management Committee - The company had no entrustment or contracting situations during the reporting period[154](index=154&type=chunk)[155](index=155&type=chunk) - The company had no significant guarantee situations during the reporting period[157](index=157&type=chunk) - Total wealth management transactions amounted to **490 million yuan**, with **490 million yuan** outstanding and no overdue unrecovered amounts[160](index=160&type=chunk) Wealth Management Status | Specific Type | Source of Wealth Management Funds | Amount of Wealth Management Transactions (10,000 yuan) | Outstanding Balance (10,000 yuan) | Overdue Unrecovered Amount (10,000 yuan) | | :--- | :--- | :--- | :--- | :--- | | Bank Wealth Management Products | Raised Funds | 23,500 | 23,500 | 0 | | Brokerage Wealth Management Products | Raised Funds | 6,500 | 6,500 | 0 | | Bank Wealth Management Products | Own Funds | 8,000 | 8,000 | 0 | | Brokerage Wealth Management Products | Own Funds | 11,000 | 11,000 | 0 | | **Total** | - | **49,000** | **49,000** | **0** | - The company signed an investment cooperation agreement for the "Haisen Pharmaceutical New Plant Project" with Dongyang Economic Development Zone Management Committee, with a planned investment of **300 million yuan**[160](index=160&type=chunk) - The "Haisen Pharmaceutical New Plant Project (Phase I)" has signed a formal agreement and commenced execution, and the land use rights for the project construction have been acquired through bidding[160](index=160&type=chunk)[161](index=161&type=chunk) [XIII. Explanation of Other Significant Matters](index=41&type=section&id=十三、其他重大事项的说明) This section lists other significant announcements during the reporting period, including changes and delays in IPO projects, land use rights acquisition, profit distribution, and director/senior management share reduction pre-disclosures - Announcement on Changes to Certain IPO Projects, Adjustment of Total Investment, and Use of Over-Raised Funds and Own Funds for Additional Investment (February 19, 2025)[163](index=163&type=chunk) - Announcement on Delay of Certain IPO Projects (February 19, 2025)[163](index=163&type=chunk) - Announcement on the Company's Acquisition of Land Use Rights through Bidding and Progress of External Investment (March 8, 2025)[163](index=163&type=chunk) - Announcement on the 2024 Annual Profit Distribution and Capital Reserve Conversion to Share Capital Plan (March 28, 2025)[163](index=163&type=chunk) - Pre-disclosure Announcement on Share Reduction by Company Directors and Senior Management (May 30, 2025)[163](index=163&type=chunk) [XIV. Significant Matters of Company Subsidiaries](index=42&type=section&id=十四、公司子公司重大事项) The company had no significant matters concerning its subsidiaries during the reporting period - The company had no significant matters concerning its subsidiaries during the reporting period[164](index=164&type=chunk) [Section 6 Share Changes and Shareholder Information](index=43&type=section&id=第六节%20股份变动及股东情况) This section details changes in share capital, shareholder numbers, and shareholdings of directors, supervisors, and senior management [I. Share Changes](index=43&type=section&id=一、股份变动情况) The company's total share capital increased by **47.99%** to **151.93 million shares** due to the 2024 capital reserve conversion, impacting EPS and net assets per share [1. Share Changes](index=43&type=section&id=1、股份变动情况) Total share capital increased from **102.65 million** to **151.93 million shares**, a **47.99%** increase, due to capital reserve conversion, leading to a dilution of basic EPS from **0.60 yuan/share** to **0.41 yuan/share** Share Changes | Share Type | Number Before This Change (shares) | Proportion Before This Change | Capital Reserve Conversion to Shares (shares) | Number After This Change (shares) | Proportion After This Change | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 76,498,329 | 74.52% | 36,719,198 | 113,217,527 | 74.52% | | Of which: Other Domestic Shares | 76,498,329 | 74.52% | 36,719,198 | 113,217,527 | 74.52% | | Domestic Legal Person Shares | 44,268,576 | 43.12% | 21,248,916 | 65,517,492 | 43.12% | | Domestic Natural Person Shares | 32,229,753 | 31.40% | 15,470,282 | 47,700,035 | 31.40% | | II. Unrestricted Shares | 26,154,671 | 25.48% | 12,554,242 | 38,708,913 | 25.48% | | Of which: RMB Ordinary Shares | 26,154,671 | 25.48% | 12,554,242 | 38,708,913 | 25.48% | | **III. Total Shares** | **102,653,000** | **100.00%** | **49,273,440** | **151,926,440** | **100.00%** | - The change in shares was due to the company's 2024 annual equity distribution plan, which involved converting capital reserve premium into shares at a ratio of **4.8 shares** for every **10 shares** held by all shareholders[168](index=168&type=chunk) Impact of Share Changes on Financial Indicators | Indicator | Jan-Jun 2025 / H1 2025 (Before Change) | Jan-Jun 2025 / H1 2025 (After Change) | 2024 Annual / End of 2024 (Before Change) | 2024 Annual / End of 2024 (After Change) | | :--- | :--- | :--- | :--- | :--- | | Total Share Capital (shares) | 102,653,000 | 151,926,440 | 102,653,000 | 151,926,440 | | Basic Earnings Per Share (yuan/share) | 0.60 | 0.41 | 1.22 | 0.82 | | Diluted Earnings Per Share (yuan/share) | 0.59 | 0.40 | 1.21 | 0.82 | | Net Assets Per Share (yuan) | 13.62 | 9.20 | 13.09 | 8.85 | [2. Changes in Restricted Shares](index=44&type=section&id=2、限售股份变动情况) Restricted shares of major shareholders, including Haisen Holdings, Wang Shiyue, and Taiqi Investment, increased due to capital reserve conversion, with most pre-IPO restricted shares scheduled for release on April 10, 2026 Changes in Restricted Shares | Shareholder Name | Restricted Shares at Beginning of Period | Restricted Shares Increased in Current Period | Restricted Shares at End of Period | Reason for Restriction | Release Date | | :--- | :--- | :--- | :--- | :--- | :--- | | Haisen Holdings | 33,168,576 | 15,920,916 | 49,089,492 | Pre-IPO Restricted Shares | 2026 年 4 月 10 日 | | Wang Shiyue | 20,086,560 | 9,641,549 | 29,728,109 | Pre-IPO Restricted Shares | 2026 年 4 月 10 日 | | Taiqi Investment | 11,100,000 | 5,328,000 | 16,428,000 | Pre-IPO Restricted Shares | 2026 年 4 月 10 日 | | Guo Haiyan | 3,399,264 | 1,631,647 | 5,030,911 | Pre-IPO Restricted Shares | 2026 年 4 月 10 日 | | Ai Lin | 3,069,013 | 1,473,126 | 4,542,139 | Senior Management Lock-up Shares; Equity Incentive Restricted Shares | 2026 年 4 月 10 日（部分） | | Wang Yuxiao | 2,575,200 | 1,236,096 | 3,811,296 | Pre-IPO Restricted Shares | 2026 年 4 月 10 日 | | Wang Dongyan | 1,171,716 | 562,424 | 1,734,140 | Pre-IPO Restricted Shares | 2026 年 4 月 10 日 | | Zhang Shengquan | 69,000 | 33,120 | 102,120 | Equity Incentive Restricted Shares | Released according to incentive plan regulations | | Lou Yanjun | 69,000 | 33,120 | 102,120 | Equity Incentive Restricted Shares | Released according to incentive plan regulations | | Dai Ya | 66,000 | 31,680 | 97,680 | Equity Incentive Restricted Shares | Released according to incentive plan regulations | | Pan Aijuan | 66,000 | 31,680 | 97,680 | Equity Incentive Restricted Shares | Released according to incentive plan regulations | | Hu Kangkang | 66,000 | 31,680 | 97,680 | Equity Incentive Restricted Shares | Released according to incentive plan regulations | | Middle Management, Core Technical (Business) Personnel (79 persons) | 1,592,000 | 764,160 | 2,356,160 | Equity Incentive Restricted Shares | Released according to incentive plan regulations | | **Total** | **76,498,329** | **36,719,198** | **113,217,527** | - | - | [II. Securities Issuance and Listing](index=46&type=section&id=二、证券发行与上市情况) The company had no securities issuance or listing activities during the reporting period - The company had no securities issuance or listing activities during the reporting period[175](index=175&type=chunk) [III. Shareholder Numbers and Shareholding](index=46&type=section&id=三、公司股东数量及持股情况) As of the reporting period end, there were **12,654** ordinary shareholders. Top shareholders include Haisen Holdings (**32.31%**), Wang Shiyue (**19.57%**), and Taiqi Investment (**10.81%**), with Wang Shiyue, Guo Haiyan, Wang Yuxiao, Haisen Holdings, and Taiqi Investment acting in concert - As of the end of the reporting period, the total number of ordin

1、审议通过《关于公司2025年半年度报告全文及摘要的议案》 证券代码：001367 证券简称：海森药业 公告编号：2025-036 浙江海森药业股份有限公司 第三届董事会第十四次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 浙江海森药业股份有限公司（以下简称"公司"）于2025年8月2日以电子 邮件及电话通知的方式向全体董事发出了关于召开第三届董事会第十四次会议 的通知，会议于2025年8月13日在公司会议室以现场方式召开。本次会议由董事 长王式跃先生主持，应出席董事7名，实际出席董事7名。公司监事、高级管理 人员列席了本次会议。本次会议的召集和召开符合《公司法》《公司章程》等 有关规定，会议合法、有效。 二、董事会会议审议情况 《2025年半年度报告》和《2025年半年度报告摘要》内容真实、准确、完 整地反映了公司2025年半年度的经营状况和财务信息。 本议案已经公司第三届董事会审计委员会第十三次会议审议通过，并同意提 交董事会审议。 具体内容详见公司同日刊登在《证券时报》《证券日报》《上海证券报》 和巨潮资讯网（w ...

海森药业公告，2025年上半年营业收入2.42亿元，同比增长14.93%；净利润6079.42万元，同比增长 4.74%。公司计划不派发现金红利，不送红股，不以公积金转增股本。 ...

Group 1 - The total salary scale of CFOs in A-share listed companies reached 4.27 billion yuan in 2024 [1] - Among the CFOs in the pharmaceutical raw material sector, the average annual salary is 661,200 yuan [1] - The top three highest-paid CFOs are from Guobang Pharmaceutical, Zhejiang Pharmaceutical, and Xinhua Pharmaceutical, with salaries of 1.93 million yuan, 1.84 million yuan, and 1.57 million yuan respectively [1] Group 2 - The age distribution of CFOs shows that those aged 40-50 make up 36%, while those over 60 account for 5% [1] - The educational background of CFOs indicates that 65% hold a bachelor's degree, and only 2% have a high school education [1] - The salary distribution reveals that 44% of CFOs earn below 500,000 yuan, and another 44% earn between 500,000 and 1 million yuan [1] Group 3 - The largest salary decrease was observed for Liu Qingke from Huangshan Capsule, with a year-on-year decline of 19.04% [1] - The highest salary increase was recorded for Qian Dan from Nengte Technology, with a year-on-year increase of 100.58% [1]

Core Insights - The report highlights the importance of CFOs in listed companies, with the total salary scale for CFOs in A-share companies reaching 4.27 billion yuan in 2024 [1] - The average annual salary for CFOs in the raw material pharmaceutical sector is 661,200 yuan [1] Salary Distribution - The top three highest-paid CFOs are Gong Yuda from Guobang Pharmaceutical with 1.93 million yuan, Li Qirong from Zhejiang Pharmaceutical with 1.84 million yuan, and Hou Ning from Xinhua Pharmaceutical with 1.57 million yuan [1] - The salary distribution shows that 44% of CFOs earn below 500,000 yuan, 44% earn between 500,000 and 1 million yuan, and 12% earn above 1 million yuan [1] Age and Education Distribution - CFOs aged 40-50 constitute the majority at 36%, while those aged 60 and above account for 5% [1] - The educational background of CFOs shows that 65% hold a bachelor's degree, 21% have a master's degree, and only 2% have a high school diploma [1] Salary Changes - Liu Qingke from Huangshan Capsule experienced the largest salary decrease at 19.04%, while Qian Dan from Nengte Technology saw the highest salary increase at 100.58% [1]