Core Points - Company X received a notice from its continuous supervision sponsor, Guolian Minsheng Securities, regarding a change in the representatives responsible for ongoing supervision [1] - The ongoing supervision was initially established for the non-public offering of shares in 2020, which has not yet fully utilized the raised funds [1] - The new representatives appointed to continue the supervision responsibilities are Mr. Li Dashan and Mr. Chen Siyuan, replacing Ms. Wu Yi and Mr. Shi Zonghan due to their work adjustments [1]

证券代码：002294 证券简称：信立泰 编号：2025-056 深圳信立泰药业股份有限公司 关于变更持续督导保荐代表人的公告 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。 深圳信立泰药业股份有限公司（下称"公司"）于近日接到持续督导保荐机 构国联民生证券承销保荐有限公司（下称"国联民生保荐"）出具的函件，公司 持续督导的保荐代表人发生变更。具体情况如下： 此次变更后，公司持续督导的保荐代表人为李大山先生、陈思远先生。本次 变更不影响国联民生保荐对公司的持续督导工作。公司董事会对吴宜女士和史宗 汉先生在担任公司保荐代表人期间所做的工作表示衷心感谢！ 特此公告 深圳信立泰药业股份有限公司 董事会 国联民生保荐（原公司名称"华英证券有限责任公司"）为公司 2020 年度 非公开发行股票的持续督导机构，持续督导期限已于 2022 年 12 月 31 日届满。 因公司本次发行募集资金尚未使用完毕，目前，国联民生保荐正继续就公司未使 用完毕的募集资金相关情况履行持续督导责任。该项目持续督导的保荐代表人为 吴宜女士和史宗汉先生。 现由于吴宜女士和史宗汉先生工作调整，国联 ...

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [2] Core Views - The company achieved a revenue of 1.11 billion yuan in Q3 2025, representing a year-on-year growth of 15.85%, and a net profit of 216 million yuan, up 30.19% year-on-year. For the first three quarters of 2025, the company reported a revenue of 3.241 billion yuan, a growth of 8%, and a net profit of 581 million yuan, an increase of 13.93% year-on-year [7] - The company is focusing on chronic disease areas, with successful sales expansion. New products have been approved through national medical insurance negotiations, and the company is enhancing market coverage through a multi-channel approach, including e-commerce [7] - The research and development pipeline is robust, with 74 new drugs in development, including 51 chemical drugs and 23 biological drugs. The clinical trials for JK07 are progressing, with expectations for key data release in mid-2026 [7] - The company is projected to achieve revenues of 4.454 billion yuan, 5.344 billion yuan, and 6.253 billion yuan for 2025, 2026, and 2027 respectively, with corresponding net profits of 628 million yuan, 690 million yuan, and 796 million yuan [7] Financial Summary - For 2023A, the company reported a revenue of 3,365 million yuan, with a revenue growth rate of -3.4%. The net profit was 580 million yuan, with a net profit growth rate of -9.0% [6] - The projected earnings per share (EPS) for 2025E is 0.56 yuan, with a price-to-earnings (PE) ratio of 89.6 [6] - The return on equity (ROE) is expected to be 7.1% in 2025E, with a price-to-book (PB) ratio of 6.4 [6]

Core Viewpoint - The stock of Shenzhen Sinopharm Co., Ltd. (信立泰) has shown significant growth in 2023, with a year-to-date increase of 88.14%, reflecting strong market performance and investor interest [1][2]. Financial Performance - For the period from January to September 2025, the company achieved a revenue of 3.241 billion yuan, representing a year-on-year growth of 8.00% [2]. - The net profit attributable to shareholders for the same period was 581 million yuan, marking a year-on-year increase of 13.93% [2]. Stock Market Activity - As of October 28, 2023, the stock price reached 57.25 yuan per share, with a trading volume of 2.47 billion yuan and a turnover rate of 0.39% [1]. - The stock has been active on the market, appearing on the "龙虎榜" (top trading list) twice this year, with the most recent instance on June 17, 2023, where it recorded a net buy of -41.9885 million yuan [1]. Shareholder Structure - As of September 30, 2025, the number of shareholders increased to 25,200, up by 4.87% from the previous period [2]. - The top shareholders include 中欧医疗健康混合A (003095) and 香港中央结算有限公司, with significant increases in their holdings [3]. Dividend Distribution - Since its A-share listing, the company has distributed a total of 7.204 billion yuan in dividends, with 1.649 billion yuan distributed over the past three years [3].

Core Viewpoint - The company reported a revenue of 3.241 billion yuan for the first three quarters of 2025, reflecting an 8.00% year-on-year growth [1] - The net profit attributable to shareholders reached 581 million yuan, marking a 13.93% increase compared to the previous year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 567 million yuan, showing a 14.07% year-on-year growth [1] Financial Performance - Revenue for the first three quarters: 3.241 billion yuan, up 8.00% year-on-year [1] - Net profit attributable to shareholders: 581 million yuan, up 13.93% year-on-year [1] - Net profit after deducting non-recurring items: 567 million yuan, up 14.07% year-on-year [1]

Core Insights - The company reported a revenue of 1.11 billion yuan for Q3 2025, reflecting a year-on-year growth of 15.85% [1] - The net profit attributable to shareholders for Q3 2025 was 216 million yuan, showing a year-on-year increase of 30.19% [1] - For the first three quarters of 2025, the company achieved a total revenue of 3.24 billion yuan, which is an 8.00% increase compared to the same period last year [1] - The net profit attributable to shareholders for the first three quarters was 581 million yuan, marking a year-on-year growth of 13.93% [1]

Group 1 - The company reported a third-quarter revenue of 1.11 billion yuan, representing a year-on-year increase of 15.85% [1] - The net profit attributable to shareholders for the third quarter was 216 million yuan, showing a year-on-year growth of 30.19% [1] - For the first three quarters, the company achieved a total revenue of 3.24 billion yuan, which is an 8.00% increase compared to the same period last year [1] Group 2 - The net profit attributable to shareholders for the first three quarters was 581 million yuan, reflecting a year-on-year increase of 13.93% [1]

Core Insights - The company reported a revenue of 3.241 billion yuan for the first three quarters, representing a year-on-year growth of 8.00% [1] - The net profit attributable to shareholders reached 580 million yuan, showing a year-on-year increase of 13.93% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 567 million yuan, with a year-on-year growth of 14.07% [1]

Core Insights - The company reported a revenue of 3.241 billion yuan for the first three quarters of 2025, representing an 8% year-on-year growth [1] - The net profit attributable to shareholders reached 581 million yuan, showing a year-on-year increase of 13.93% [1] Sales Structure - The revenue growth of new products has accelerated, becoming the core driver of the company's development [1] - The company is focusing on the chronic disease field of CKM (cardiovascular and metabolic syndrome) [1] Product Pipeline - The company has continuously enriched its innovative product pipeline [1] - Newly launched products, Xinchao Tuo and Fuli An, have passed the national medical insurance negotiation review, and the company is actively preparing for related negotiations [1]

Core Viewpoint - The company reported a net profit of 215.6 million RMB for the third quarter [1] Financial Performance - The net profit for the third quarter is 215.6 million RMB [1]