Core Viewpoint - The recent financial report of Haiprui (002399) shows a year-on-year increase in both revenue and net profit for Q1 2025, indicating stable performance despite some declines in profit margins and cash flow metrics [1]. Financial Performance - Total revenue for Q1 2025 reached 1.394 billion yuan, a 1.53% increase compared to 1.373 billion yuan in Q1 2024 [1]. - The net profit attributable to shareholders was 157 million yuan, reflecting a 1.0% increase from 155 million yuan in the same period last year [1]. - Gross margin decreased to 27.34%, down 20.74% year-on-year, while net margin slightly declined to 11.2%, a decrease of 0.51% [1]. - Total expenses (selling, administrative, and financial) amounted to 135 million yuan, representing 9.66% of revenue, a significant reduction of 45.77% year-on-year [1]. Key Financial Ratios - Earnings per share (EPS) remained stable at 0.11 yuan, with a slight increase of 0.95% year-on-year [1]. - The company's cash flow per share decreased to 0.37 yuan, down 38.21% from 0.60 yuan [1]. - The company's return on invested capital (ROIC) was reported at 4.33%, indicating weak capital returns in recent years [3]. Debt and Cash Flow Analysis - The company has a healthy cash position, with cash assets covering 87.19% of current liabilities [3]. - The interest-bearing debt decreased to 3.544 billion yuan, a reduction of 27.03% compared to the previous year [1]. - Accounts receivable increased to 1.382 billion yuan, a rise of 19.95% year-on-year, raising concerns about collection efficiency as accounts receivable to profit ratio reached 213.74% [3]. Market Dynamics - The company is closely monitoring the market for heparin active pharmaceutical ingredients (API), which are currently priced low, and is focused on maintaining its pricing structure [3].

Core Viewpoint - The company, Shenzhen Hepalink Pharmaceutical Group Co., Ltd., has announced its first-quarter report for 2025, confirming the accuracy and completeness of the financial information disclosed [2][24]. Financial Data - The first-quarter report has not been audited [3][7]. - There are no adjustments or restatements required for previous accounting data [4]. - The company does not have any non-recurring profit and loss items [4]. Shareholder Information - The total number of ordinary shareholders and the situation of the top ten shareholders have been disclosed, with no changes reported in the lending of shares [6]. Board Meeting - The sixth board meeting of the company was held on April 24, 2025, with all seven directors participating and approving the first-quarter report [8][9]. - The board also approved an adjustment to the capital increase plan for its wholly-owned subsidiary, Tian Dao Pharmaceutical (Hong Kong) Co., Ltd., reducing the amount from USD 105 million to USD 31.92 million [11][12]. Subsidiary Capital Increase - The capital increase is aimed at expanding the sales and marketing network in the EU and other global markets [17][18]. - The adjustment to the capital increase plan was made in response to external market conditions and the company's global business development needs [18][22]. Product Approval - The company's subsidiary, Shenzhen Tian Dao Pharmaceutical Co., Ltd., received approval from the South African Health Products Regulatory Authority for its Enoxaparin Sodium Injection [25]. - This approval allows the company to sell its Enoxaparin Sodium products in the South African market, enhancing its global market share [26][28].

证券代码：002399 证券简称：海普瑞 公告编号：2025-023 深圳市海普瑞药业集团股份有限公司 第六届监事会第十一次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 一、监事会会议召开情况 具体内容详见公司同日披露于《证券时报》《中国证券报》《上海证券报》《证 券日报》和巨潮资讯网www.cninfo.com.cn的《2025年第一季度报告》；及同日披露 于 香 港 联 合 交 易 所 有 限 公 司 网 站 http://www.hkexnews.hk 和 公 司 网 站 http://www.hepalink.com的H股《2025年第一季度业绩公告》。 2、《关于调整向全资子公司天道医药（香港）有限公司增资方案的议案》 表决结果：3票同意、0票弃权、0票反对。 公司于2021年12月10日召开的第五届董事会第十五次会议审议通过，公司决 定使用H股募集资金1.05亿美元以逐层增资的方式向全资子公司天道医药（香港） 有限公司增资，用于欧盟及其他全球市场拓展销售及营销网络以及基础设施的建 设。 根据外部市场环境结合公司全球业务发展的需求，决 ...

证券代码：002399 证券简称：海普瑞 公告编号：2025-022 深圳市海普瑞药业集团股份有限公司 第六届董事会第十五次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 表决结果：7票同意、0票弃权、0票反对。 公司于2021年12月10日召开的第五届董事会第十五次会议审议通过，公司决 定使用H股募集资金1.05亿美元以逐层增资的方式向全资子公司天道医药（香港） 有限公司增资，用于欧盟及其他全球市场拓展销售及营销网络以及基础设施的建 设。 深圳市海普瑞药业集团股份有限公司（以下简称"公司"）第六届董事会第 十五次会议（以下简称"会议"）通知及议案于 2025 年 4 月 10 日以电子邮件的 形式发出，会议于 2025 年 4 月 24 日下午 14:00 在深圳市南山区松坪山朗山路 21 号会议室以现场与通讯相结合的方式召开。本次会议应参与表决董事 7 人，实际 参与表决董事 7 人，其中张平先生、吕川先生、黄鹏先生、易铭先生以通讯方式 参与表决。公司监事及高级管理人员列席会议，会议由公司董事长李锂先生主持。 本次会议 ...

Financial Performance - The company's operating revenue for Q1 2025 was CNY 1,394,250,050.21, representing a 1.53% increase compared to CNY 1,373,251,921.93 in the same period last year[8] - Net profit attributable to shareholders for Q1 2025 was CNY 156,590,188.54, a 1.00% increase from CNY 155,040,262.39 year-on-year[8] - The net profit after deducting non-recurring gains and losses increased by 20.27% to CNY 188,891,082.26 from CNY 157,052,354.18 in the previous year[8] - The total operating profit for the current period is 178,980,342.21, a decrease of 9.4% from 196,847,737.66 in the previous period[34] - Net profit for the current period is 156,169,189.45, showing a slight increase of 1.0% compared to 154,597,836.94 in the previous period[34] - The company's net profit margin improved, with net profit for the period showing a significant recovery compared to the previous period, although specific figures were not disclosed[33] Cash Flow - The net cash flow from operating activities decreased by 38.21% to CNY 544,031,931.35, down from CNY 880,453,882.15 in the same period last year[8] - The cash flow from operating activities is 544,031,931.35, down 38.3% from 880,453,882.15 in the previous period[39] - The net cash flow from investing activities saw a significant decline of 297.07%, resulting in a negative cash flow of ¥257,551,999.87, mainly due to increased purchases of financial products[19] - The cash flow from investment activities shows a net outflow of 257,551,999.87, compared to a net inflow of 130,688,287.99 in the previous period[40] - The net cash flow from financing activities increased by 103.37% to ¥22,602,544.83, as the amounts borrowed and repaid remained relatively stable compared to the previous year[19] - Net cash flow from financing activities was $22,602,544.83, a significant improvement from a negative $670,833,066.44 in the previous period[41] Assets and Liabilities - Total assets at the end of the reporting period were CNY 17,545,801,889.02, reflecting a 1.17% increase from CNY 17,343,523,964.97 at the end of the previous year[8] - Total liabilities increased to CNY 5,205,766,284.88 from CNY 5,141,403,413.17, reflecting an increase of approximately 1.2%[31] - The equity attributable to shareholders increased by 1.14% to CNY 12,287,013,002.74 from CNY 12,148,672,778.24 year-on-year[8] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 28,367, with the largest shareholder, Shenzhen Lerun Technology Co., Ltd., holding 32.31% of shares[22] - The top ten shareholders collectively hold significant stakes, with the second-largest shareholder, Xiamen Jintian Soil Investment Partnership, holding 27.81%[22] - The largest shareholder, Shenzhen Lerun Technology Co., Ltd., has a total of 474,029,899 shares, while the second-largest holds 408,041,280 shares[23] - The company has not reported any changes in the participation of the top ten shareholders in margin trading or securities lending activities compared to the previous period[24] - There are no preferred shareholders or related changes reported in the current period[24] Investment and Expenses - The company reported a significant increase in investment income, rising by 132.79% to CNY 20,292,064.76 from a loss of CNY 61,890,173.43 in the previous year[17] - Research and development expenses were CNY 39,993,799.57, up from CNY 35,294,968.25, indicating an increase of about 19.2%[33] - The company experienced a 190.08% decrease in financial expenses, resulting in a gain of CNY 56,508,230.69 due to foreign exchange gains[17] - The deferred income increased by 65.95% to CNY 45,279,690.29, primarily due to government subsidies received during the reporting period[15] - The company reported a substantial increase in asset disposal income, which rose by 4404.34% to CNY 1,288,820.50 from CNY 28,612.85 in the previous year[17] Inventory and Receivables - Accounts receivable increased to CNY 1,382,358,370.19 from CNY 1,178,554,557.22, showing a rise of about 17.3%[28] - Inventory decreased to CNY 4,952,734,323.44 from CNY 5,393,947,174.38, a decline of approximately 8.2%[28] Cash and Equivalents - The company's cash and cash equivalents at the end of the period were CNY 2,000,842,827.21, up from CNY 1,689,041,495.34 at the beginning of the period, indicating a growth of approximately 18.4%[28] - The ending balance of cash and cash equivalents was $1,740,464,878.53, down from $2,108,383,601.96 in the prior period[41] - The net increase in cash and cash equivalents was $318,638,044.68, slightly lower than $342,738,890.08 in the previous period[41] Other Financial Metrics - The total comprehensive income for the current period is 137,915,052.34, a decrease of 8.1% from 150,135,056.48 in the previous period[36] - Basic and diluted earnings per share for the current period are both 0.1067, an increase from 0.1057 in the previous period[36] - The company recorded a foreign exchange loss of 47,399,165.67 in other comprehensive income, contrasting with a gain of 3,002,651.97 in the previous period[35] - The company received cash from sales of goods and services totaling 1,327,258,705.88, down 11.1% from 1,493,180,137.55 in the previous period[39] - The company reported a decrease in cash received from other operating activities to 47,510,298.94, down from 97,379,140.23 in the previous period[39] - The company’s net impairment loss on assets decreased significantly to 44,094.91 from 33,754,398.03 in the previous period[34] Audit and Reliability - The first quarter report was not audited, indicating potential limitations in financial reliability[42]

一、主要会计数据和财务指标 三、分红送配方案情况 | 报告期指标 | 2025年一季报 | 2024年一季报 | 本年比上年增减(%) | 2023年一季报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | 0.1067 | 0.1057 | 0.95 | 0.0453 | | 每股净资产（元） | 8.37 | 8.22 | 1.82 | 8.43 | | 每股公积金(元) | 4 | 4.33 | -7.62 | 3.99 | | 每股未分配利润(元) | 2.86 | 2.41 | 18.67 | 2.99 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 13.94 | 13.73 | 1.53 | 13.01 | | 净利润(亿元) | 1.57 | 1.55 | 1.29 | 0.67 | | 净资产收益率(%) | 1.28 | 1.29 | -0.78 | 0.54 | 本次公司不分配不转赠。 数据四舍五入，查看更多财务数据>> 二、前10名无限售条件股东持股情况 前十大流通股东累计持有： 125360.0 ...

Revenue and Profit - The company's revenue for Q1 2025 was ¥1,394,250,050.21, representing a year-over-year increase of 1.53% compared to ¥1,373,251,921.93 in the same period last year[5]. - Net profit attributable to shareholders was ¥156,590,188.54, a slight increase of 1.00% from ¥155,040,262.39 in the previous year[5]. - The net profit after deducting non-recurring gains and losses increased by 20.27% to ¥188,891,082.26 from ¥157,052,354.18 year-over-year[5]. - Total operating revenue for the current period reached ¥1,394,250,050.21, an increase of 1.4% compared to ¥1,373,251,921.93 in the previous period[23]. - Net profit for the current period was ¥156,169,189.45, slightly higher than ¥154,597,836.94 from the previous period, indicating a growth of about 1%[24]. - Earnings per share (EPS) for the current period was ¥0.1067, compared to ¥0.1057 in the previous period, showing an increase of 0.9%[25]. Cash Flow - The net cash flow from operating activities decreased significantly by 38.21% to ¥544,031,931.35 from ¥880,453,882.15 in the same period last year[5]. - Cash inflow from operating activities totaled ¥1,501,965,061.54, a decrease from ¥1,664,646,503.27 in the previous period, representing a decline of approximately 9.7%[26]. - The net cash flow from operating activities was $544,031,931.35, a decrease of 38.2% compared to $880,453,882.15 in the previous period[27]. - Total cash outflow from operating activities amounted to $957,933,130.19, up from $784,192,621.12, indicating a 22.1% increase[27]. - Cash inflow from investment activities totaled $605,376,122.24, compared to $441,112,963.21, reflecting a 37.3% increase[27]. - The net cash flow from investment activities was -$257,551,999.87, a decline from $130,688,287.99 in the previous period[27]. - Cash inflow from financing activities was $750,396,287.53, down from $835,834,333.10, representing a decrease of 10.2%[27]. - The net cash flow from financing activities was $22,602,544.83, a significant improvement from -$670,833,066.44 in the previous period[27]. - The total cash and cash equivalents at the end of the period were $1,740,464,878.53, down from $2,108,383,601.96[27]. - The cash and cash equivalents increased by $318,638,044.68 during the period, compared to an increase of $342,738,890.08 in the previous period[27]. Assets and Liabilities - Total assets at the end of the reporting period were ¥17,545,801,889.02, reflecting a 1.17% increase from ¥17,343,523,964.97 at the end of the previous year[5]. - The company's total liabilities amounted to ¥5,205,766,284.88, compared to ¥5,141,403,413.17 in the previous period, reflecting an increase of about 1.25%[21]. - Total equity attributable to shareholders reached ¥12,287,013,002.74, up from ¥12,148,672,778.24, marking an increase of approximately 1.14%[21]. - Total current assets amount to 9,873,944,183.93 RMB, an increase from 9,621,274,306.15 RMB at the beginning of the period[19]. - Total assets amount to 17,545,801,889.02 RMB, compared to 17,343,523,964.97 RMB at the beginning of the period[20]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 28,367[16]. - The largest shareholder, Shenzhen Lerun Technology Co., Ltd., holds 32.31% of shares, totaling 474,029,899 shares[16]. - The second-largest shareholder, Xiamen Jintian Investment Partnership, holds 27.81%, totaling 408,041,280 shares[16]. Other Financial Metrics - The company's basic earnings per share (EPS) was ¥0.1067, up 0.95% from ¥0.1057 in the same period last year[5]. - The weighted average return on equity (ROE) slightly decreased to 1.28% from 1.29% year-over-year[5]. - The company reported a decrease in financial expenses, with a net financial cost of -¥56,508,230.69 compared to ¥62,732,180.93 in the previous period[24]. - The company experienced a decrease in comprehensive income, totaling ¥137,915,052.34 compared to ¥150,135,056.48 in the previous period, a decline of about 8%[25]. - The company reported a significant increase in deferred income by 65.95% to ¥45,279,690.29 due to government subsidies received during the reporting period[11]. - Deferred income increased to ¥45,279,690.29 from ¥27,284,974.87, indicating a significant rise of approximately 65.9%[21]. - The company has a total of 366,727,264.95 RMB in long-term equity investments[20]. - The company’s goodwill stands at 2,353,689,028.00 RMB, a slight decrease from 2,357,033,547.26 RMB[20]. - Inventory decreased to 4,952,734,323.44 RMB from 5,393,947,174.38 RMB[20]. - Short-term borrowings are reported at 1,819,531,746.74 RMB, slightly down from 1,838,944,224.03 RMB[20]. - The company paid $225,883,127.82 to employees, an increase from $182,063,990.65 in the previous period[27]. - The company reported a total tax payment of $71,329,471.04, up from $61,136,636.42, indicating a 19.8% increase[27].

证券代码：002399 证券简称：海普瑞 公告编号：2025-021 根据外部市场环境结合公司全球业务发展的需求，经公司于2025年4月24日 召开的第六届董事会第十五次会议审议通过，决定对原增资方案进行调整，将原 增资金额1.05亿美元调整为3,192万美元，其余内容不变。 调整后的增资金额在公司董事会决策权限内，无需提交股东大会审议批准。 上述调整增资方案的事项不构成关联交易，亦不构成《上市公司重大资产重组管 理办法》规定的重大资产重组。 一、增资标的的基本情况 （一）多普乐 关于向全资子公司天道医药（香港）有限公司增资 的进展公告 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。 重要内容提示 经深圳市海普瑞药业集团股份有限公司（以下简称"公司"或"海普瑞"） 于2021年12月10日召开的第五届董事会第十五次会议审议通过，公司决定使用H 股募集资金1.05亿美元以逐层增资的方式向全资子公司天道医药（香港）有限公 司（以下简称"香港天道"）增资，用于欧盟及其他全球市场拓展销售及营销网 络以及基础设施的建设。具体增资路径为海普瑞向其全资子公司深圳市多普乐实 ...

深圳市海普瑞药业集团股份有限公司（以下简称"公司"）的全资孙公司深圳 市天道医药有限公司（以下简称"天道医药"）近期收到南非卫生产品管理局（South African Health Products Regulatory Authority）签发的依诺肝素钠注射液批准通知。 现将相关情况公告如下： （五）适应症： （六）许可有效期：五年 证券代码： 002399 证券简称：海普瑞 公告编号：2025-024 深圳市海普瑞药业集团股份有限公司 关于依诺肝素钠注射液获得南非药品注册批件的公告 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。 一、基本情况 《证券时报》《证券日报》《中国证券报》《上海证券报》和巨潮资讯网 （www.cninfo.com.cn）为公司指定信息披露媒体，公司所有信息均以在上述指定媒 体刊登的信息为准。公司将严格按照有关法律法规的规定和要求，认真履行信息披 露义务，及时做好信息披露工作。 公司郑重提请投资者注意：投资者应充分了解股票市场风险及公司定期报告 中披露的风险因素，审慎决策、理性投资。 特此公告 深圳市海普瑞药业集团股份有限公司 二 ...

| ○ 基金经理:马君 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 累计任职时间：12年又220天 任职起始日期：2012-09-04 现任基金公司：银华基金管理股份有限公司 现任基金资产 在管基金量佳 息规模 | 任期回报 | | 基金经理简介:马君女士:硕士学位。2008年7月至2009年3月任职大成基金管理有限公司助 理金融工程师。2009年3月加盟银华基金管理有限公司,曾担任研究员及基金经理助理职务。 自2012年9月4日至2020年11月30日担任银华中证内地资源主题指数分级证券投资基金基金经 理,2013年12月16日至2015年7月16日兼任银华消费主题分级混合型证券投资基金基金经 理,2015年8月6日至2016年8月5日兼任银华中证国防安全指数分级证券投资基金基金经 理,2015年8月13日至2016年8月5日兼任银华中证一带一路主题指数分级证券投资基金基金经 | | | | | | 337.41亿元 13.17% | | | | | | | | 马君 | | | | 理,自2016年1月14日至 ...