对于这一重大信息，投资者质疑仙琚制药存在延迟披露问题。 仙琚制药在4月23日披露的2024年年报中进行了披露，并确认了预计负债和相关损失。 而早在4月21日，仙琚制药就收到了相关部门拟处罚的告知书。对此，仙琚制药没有进行单独披露。 受上述事项影响，2024年，仙琚制药归属于母公司股东的净利润(简称"归母净利润")同比下降近30%， 为3.97亿元。这已是公司归母净利润连续两年快速下降。 仙琚制药是一家老牌制药企业，公司的发展愿景为"成为全世界前十名的甾体药物供应商"。 不过，公司经营业绩处于止步不前状态。2020年至2024年的五个年度，公司营业收入在40亿元左右波 动，增长乏力。 垄断原料药被罚没近2亿 垄断原料药，仙琚制药（002332）(002332.SZ)收到了大额罚单。 5月5日晚，仙琚制药发布公告称，4月30日，公司收到天津市市场监督管理委员会下发的《行政处罚决 定书》，公司因涉及垄断地塞米松磷酸钠原料药价格，被罚没约1.95亿元。 在2024年业绩说明会上，多名参会投资者质疑"收到近2亿元的处罚通知，不公告，暗箱操作"。对此， 仙琚制药相关负责人没有作出具体解释。 仙琚制药在公告中表示，本次行政 ...

Core Viewpoint - In 2024, the company achieved revenue of 4 billion yuan, a slight year-on-year decline, while net profit attributable to shareholders was significantly impacted by a fine related to sodium dexamethasone sales, with a stable growth in non-recurring net profit [1][2][3] - The impact of centralized procurement on the formulation segment has been largely digested, and new products are continuously being introduced, with expectations for accelerated growth in 2025 [1][4] - Revenue from the raw materials segment declined due to inventory destocking by overseas clients and price decreases, but sales volume remains stable, with a positive outlook for gradual recovery [1][5] Financial Performance - In 2024, the company reported operating revenue of 4.001 billion yuan, a year-on-year decrease of 2.98%, and a net profit attributable to shareholders of 397 million yuan, down 29.46% [2][3] - The non-recurring net profit for 2024 was 549 million yuan, reflecting a year-on-year increase of 2.15% [2][3] - For Q1 2025, the company achieved operating revenue of 1.01 billion yuan, a year-on-year decline of 2.9%, with a net profit of 140 million yuan, down 4.7% [2][3] Formulation Segment - In 2024, the formulation sales revenue reached 2.276 billion yuan, an increase of 8% year-on-year [4] - Key therapeutic areas showed varied performance, with gynecology and family planning sales at 450 million yuan, stable year-on-year; anesthetic muscle relaxants at 160 million yuan, up 55%; respiratory products at 880 million yuan, up 31%; and dermatology products at 230 million yuan, up 19% [4] - The company’s new products are expected to accelerate growth, with significant sales increases in new offerings such as sodium glucosamine injection [4][6] Raw Materials Segment - In 2024, revenue from raw materials and intermediates was 1.55 billion yuan, a year-on-year decline of 13% [5] - The decline was attributed to inventory destocking in the international market and increased competition leading to price drops [5][6] - The company is expected to see a recovery in the raw materials segment as prices stabilize and market share increases [5][6] Expense Analysis - In 2024, the company's sales, management, and R&D expense ratios were 25.84%, 7.74%, and 6.63%, respectively, with slight increases year-on-year [7] - The gross margin improved to 57.49%, up 4.61 percentage points, attributed to the clearing of centralized procurement impacts and operational efficiency [7] - The net profit margin was 10%, significantly impacted by a fine provision of 195 million yuan [7] Future Outlook - The company is expected to achieve stable growth in revenue and profit in 2025, with non-centralized procurement products anticipated to grow steadily [8] - Revenue projections for 2025-2027 are 4.35 billion, 4.81 billion, and 5.48 billion yuan, with year-on-year growth rates of 8.6%, 10.7%, and 13.8% respectively [8]

Group 1: Corporate Investigations and Issues - China Copper Industry Co., Ltd. director Li Lianbing is under investigation for serious violations of discipline and law [3] - Yong'an Pharmaceutical's actual controller and chairman Chen Yong is under investigation and has been detained [6] - Xianju Pharmaceutical received an administrative penalty of 195 million yuan for price-fixing agreements with competitors [10] Group 2: Corporate Transactions and Financial Warnings - AVIC Capital plans to transfer shares of AVIC Xi'an Aircraft Industry Group and AVIC Avionics to its controlling shareholder for 4.067 billion yuan [7] - Jiangsu Wuzhong's stock will be subject to additional risk warnings due to an audit report with no opinion and non-operational fund occupation by related parties [8] - Tianmao Group and Jinlitai are both unable to disclose their periodic reports on time, leading to stock suspensions [10][11] Group 3: Industry Trends and Changes - Several automotive companies, including Li Auto, Xiaomi, NIO, and Xpeng, are shifting their marketing language from "smart driving" to "assisted driving" [21]

每经记者 王帆 每经编辑 董兴生 并购重组 兴业银锡：拟以4.54亿元收购大西洋锡业有限公司 兴业银锡公告称，公司拟指定全资子公司兴业黄金（香港）矿业有限公司以每股0.24澳元的价格，通过 场外要约收购方式向持有大西洋锡业有限公司全部已发行股份的股东发出场外附条件要约收购。公司将 为兴业黄金（香港）本次交易提供资金保障。本次交易总投资额约0.98亿澳元，约合人民币4.54亿元。 电投能源：实控人国家电投集团拟以内蒙古白音华煤电股权与公司进行资产重组 电投能源公告称，收到实际控制人国家电力投资集团有限公司《关于筹划发行股份及支付现金购买资产 并募集配套资金暨关联交易事项的通知》，其拟以国家电投集团内蒙古白音华煤电有限公司股权与电投 能源进行资产重组。电投能源拟通过发行股份及支付现金方式购买上述标的资产，并将视具体情况募集 配套资金。 慧博云通：拟购买宝德计算机控制权 慧博云通公告称，公司拟以发行股份及支付现金方式购买宝德计算机系统股份有限公司控制权，并募集 配套资金。本次交易尚存在不确定性，最终交易对方、标的资产范围等具体方案，应以重组预案或重组 报告书披露的信息为准。公司股票自5月6日（星期二）开市起停牌。公 ...

Core Viewpoint - Xianju Pharmaceutical has been fined a total of 195 million yuan due to a monopoly agreement with competitors, which significantly impacts its net profit for 2024, accounting for nearly 50% of the projected net profit [2][5][6]. Financial Impact - The total penalty of 195 million yuan includes the confiscation of illegal gains of 23.7467 million yuan and a fine of 171.6 million yuan, which is 8% of the company's 2023 sales [2][5]. - This penalty represents 4.88% of the company's audited revenue for 2024, which is 4.007 billion yuan, and 49.17% of the net profit attributable to shareholders, which is 397 million yuan [5][6]. Company Performance - For the year 2024, Xianju Pharmaceutical reported a revenue of 4.007 billion yuan, a decrease of 2.98% year-on-year, and a net profit of 397 million yuan, down 29.46% year-on-year [8]. - The net profit excluding non-recurring gains and losses was 549 million yuan, reflecting a year-on-year increase of 2.15% [8]. - The net cash flow from operating activities was 399 million yuan, a decrease of 33.05% year-on-year [8]. Compliance and Remediation - Xianju Pharmaceutical has implemented several corrective measures, including stopping the illegal pricing behavior, adjusting the prices of dexamethasone phosphate sodium raw materials, and enhancing internal compliance management [9]. - The company has established an antitrust compliance management guideline and conducted comprehensive risk assessments and specialized training to strengthen compliance [2][9]. Market Position - As of April 30, the stock price of Xianju Pharmaceutical was 8.98 yuan, with a total market capitalization of 8.883 billion yuan [9].

智通财经5月5日电，仙琚制药(002332.SZ)公告称，公司于2025年4月30日收到天津市市场监督管理委员 会的《行政处罚决定书》，因公司与具有竞争关系的其他经营者以垄断协议形式固定、变更地塞米松磷 酸钠原料药价格，排除限制了该原料药销售领域的竞争。公司被没收违法所得2374.67万元，并处2023 年销售额8%的罚款1.71亿元，合计被罚没1.95亿元。公司主要负责人张宇松被罚款60万元。公司确认本 次处罚不触及重大违法强制退市情形，对公司当期财务报表造成一定负面影响，但尚不影响正常经营和 发展。公司已制定反垄断合规管理指引和员工合规手册，并开展全面风险排查和专项培训，以强化反垄 断合规管理。 仙琚制药：收到行政处罚决定书 被罚没1.95亿元 ...

证券代码：002332 证券简称：仙琚制药 公告编号：2025-021 浙江仙琚制药股份有限公司 关于公司收到行政处罚决定书的公告 政府申请复议;或者自收到本行政处罚决定书之日起六个月内，依法向天津市第 三中级人民法院提起行政诉讼。行政复议或者行政诉讼期间，本行政处罚决定不 停止执行。 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。 浙江仙琚制药股份有限公司（以下简称"公司"）于2025年4月30日收到天津 市市场监督管理委员会下发的《行政处罚决定书》（津市监垄处[2025]2号）， 现将相关情况公告如下： 一、 决定书主要内容 天津市市场监督管理委员会认为，公司与具有竞争关系的其他经营者，以垄 断协议形式变更、固定地塞米松磷酸钠原料药价格，排除限制了地塞米松磷酸钠 原料药销售领域的竞争，违反了《中华人民共和国反垄断法》第十七条第(一) 项的规定，属于达成并实施"固定或者变更商品价格"垄断协议的行为，应当依 据《反垄断法》第五十六条的规定依法追究法律责任。张宇松作为公司主要负责 人，全面主持工作及战略部署，应当依法合规开展经营，严格遵守《反垄断法》 的规定，主 ...

Core Insights - The company faced revenue pressure but significantly improved profitability, with a 2024 revenue of 4.001 billion yuan (down 2.98% year-on-year) and a net profit of 397 million yuan (down 29.46% year-on-year) [1] - The company reported a gross margin of 57.49% for 2024, an increase of 4.61 percentage points, attributed to a higher proportion of high-margin formulations and optimized raw material costs [1] Revenue Breakdown - In 2024, the formulation sales revenue was 2.415 billion yuan (up 6.02% year-on-year), with significant growth in anesthetic muscle relaxants (up 55%) and respiratory products (up 31%), while generic drug formulation revenue decreased by 19% [2] - Raw material and intermediate revenue fell to 1.547 billion yuan (down 13.4% year-on-year), primarily due to intensified competition and price declines in the non-standard market [2] Growth Potential - The company has a strong pipeline with four new generic drug approvals in 2024, including the first domestic generic version of estradiol valerate tablets [3] - The company is expanding internationally, with raw materials like medroxyprogesterone acetate receiving WHO PQ certification and prednisone receiving PMDA certification in Japan [3] - Earnings per share forecasts for 2025-2027 have been adjusted to 0.69, 0.80, and 0.97 yuan, respectively, with a target price of 11.04 yuan based on a 16x P/E ratio for 2025 [3]

Core Viewpoint - Xianju Pharmaceutical is facing an administrative penalty of approximately 200 million yuan for allegedly engaging in a monopoly agreement related to the pricing of Dexamethasone Sodium Phosphate raw materials, as disclosed in its annual report [1][6]. Group 1: Administrative Penalty Details - The Tianjin Municipal Market Supervision Administration has issued a notice indicating that Xianju Pharmaceutical is suspected of reaching and implementing a monopoly agreement by fixing and changing the price of Dexamethasone Sodium Phosphate raw materials [1][6]. - The proposed administrative penalty includes the confiscation of illegal gains amounting to 23.75 million yuan and a fine of 172 million yuan, which is 8% of the company's sales in 2023, totaling approximately 195 million yuan [6]. - Xianju Pharmaceutical has acknowledged the expected liabilities and related losses in its financial statements for 2024, in accordance with the administrative penalty notice [6]. Group 2: Market Context and Impact - Dexamethasone Sodium Phosphate is widely used in clinical treatments for allergic and autoimmune inflammatory diseases, with sales in Chinese public medical institutions reaching nearly 1.2 billion yuan in 2023, reflecting a year-on-year growth of 59.27% [6]. - The sales figure for Dexamethasone Sodium Phosphate was less than 400 million yuan in 2021, indicating significant growth in demand [6]. - Xianju Pharmaceutical's total revenue for 2024 is reported at 4 billion yuan, a decrease of 2.98% year-on-year, with net profit declining by 29.46% to 397 million yuan, attributed partly to the impact of national centralized drug procurement on its products, including Dexamethasone Sodium Phosphate [8]. Group 3: Regulatory Environment - The case is currently in the administrative penalty notification stage, and the Tianjin Municipal Market Supervision Administration has stated that the details will be publicly disclosed after the case is processed [10]. - Previous cases of pharmaceutical companies facing penalties for monopolistic practices highlight a growing regulatory scrutiny in the industry, with significant fines imposed on companies for similar violations [9].

证券代码：002332 证券简称：仙琚制药 浙江仙琚制药股份有限公司 投资者关系活动记录表 编号：2025 -02 | 投资者关系活动类别 | ☐特定对象调研 ☐分析师会议 | | --- | --- | | | ☐媒体采访 业绩说明会 | | | ☐新闻发布会 ☐路演活动 | | | ☐现场参观 | | | ☐其他（请文字说明其他活动内容） | | 参与单位名称及人员姓名 | 线上参与公司2024年度网上业绩说明会的全体投资者 | | 时间 | 2025年04月28日 15:00-17:00 | | 地点 | 价值在线（https://www.ir-online.cn/）网络互动 | | | 董事长 张宇松 | | | 总经理 金炜华 | | 上市公司接待人员姓名 | 财务总监 王瑶华 | | | 副总经理、董事会秘书 张王伟 | | | 独立董事 张红英 1.公司股价逆大盘下跌，是什么原因 | | | 答:您好！股价波动受行业政策、市场风格、公司发展阶段等 | | 投资者关系活动主要内容 | 多种因素影响。公司专注做好主业，持续提高运营效率和管理水 | | 介绍 | 平，促进公司长期稳健可持续发展，努力 ...