哈尔滨誉衡药业股份有限公司 薪酬与考核委员会 二〇二五年十月十三日 第 1页 预留授予部分第一个限售期解除限售条件成就的核查意见 哈尔滨誉衡药业股份有限公司（以下简称"公司"）薪酬与考核委员会根据 《深圳证券交易所股票上市规则》、《上市公司股权激励管理办法》等法律、法 规及《公司章程》等有关规定，对公司 2024 年限制性股票激励计划预留授予部 分第一个限售期解除限售的激励对象名单等进行了审核，并发表核查意见如下： 经审核，公司本次预留授予部分解除限售的激励对象符合《上市公司股权激 励管理办法》、《2024 年限制性股票激励计划（草案）》及《2024 年限制性股 票激励计划实施考核管理办法》等有关法律法规、规范性文件的规定，可解除限 售激励对象的解除限售资格合法、有效，且预留授予部分的第一个解除限售期的 解除限售条件已经全部成就，因此，同意为符合解除限售条件的 40 名激励对象 办理限制性股票解除限售事宜，本次解除限售的限制性股票数量为 3,872,000 股， 并同意将此事项提交董事会审议。 哈尔滨誉衡药业股份有限公司 哈尔滨誉衡药业股份有限公司 董事会薪酬与考核委员会 关于2024年限制性股票激励计划 ...

哈尔滨誉衡药业股份有限公司 证券代码：002437 证券简称：誉衡药业 公告编号：2025-072 二、审议并通过了《关于为全资下属公司申请银行综合授信提供担保的议案》。 同意公司为广州誉东健康制药有限公司向招商银行股份有限公司广州分行 （以下简称"招行广州分行"）申请的银行综合授信提供连带责任保证，担保最 高金额不超过人民币 3,000 万元，保证责任期间为自本担保书生效之日起至《授 信协议》项下每笔贷款或其他融资或招行广州分行受让的应收账款债权的到期日 或每笔垫款的垫款日另加三年。任一项具体授信展期，则保证期间延续至展期期 间届满后另加三年止。 哈尔滨誉衡药业股份有限公司 第七届董事会第五次会议决议公告 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。 2025 年 10 月 10 日，哈尔滨誉衡药业股份有限公司（以下简称"公司"） 董 事会办公室以短信及电子邮件的方式向全体董事发出了《关于召开公司第七届董 事会第五次会议的通知》及相关议案。 2025 年 10 月 13 日，第七届董事会第五次会议以通讯方式召开。本次会议 应参加董事 6 人，实际参加董事 ...

Core Viewpoint - In 2025, Harbin Yuheng Pharmaceutical Co., Ltd. approved a proposal to provide guarantees for comprehensive bank credit applications by its wholly-owned subsidiaries, indicating a strategic move to support its subsidiaries' financial needs [1] Group 1: Company Financials - As of June 30, 2025, Yudong Pharmaceutical has total assets of 354.27 million yuan and net assets of 306.26 million yuan [1] - Laibotong has total assets of 102.24 million yuan and net assets of 39.93 million yuan [1] Group 2: Guarantee Details - The company provided a joint liability guarantee for Yudong Pharmaceutical's 30 million yuan credit from China Merchants Bank Guangzhou Branch and Laibotong's 10 million yuan credit from Shanghai Pudong Development Bank Harbin Branch [1] - After this guarantee, the total amount guaranteed by the company for its controlling and wholly-owned subsidiaries reached 40 million yuan, accounting for 2.06% of the audited net assets attributable to shareholders of the listed company for 2024 [1] - There are no overdue or other guarantee risks associated with this arrangement [1]

Core Viewpoint - Yuheng Pharmaceutical achieved a net profit attributable to shareholders of 134 million yuan in H1 2025, representing a year-on-year increase of 7.56% [1] Financial Performance - The company's asset-liability ratio decreased from 31.66% in the same period last year to 28.70%, indicating an ongoing optimization of the asset-liability structure and enhanced risk resistance [1] Strategic Partnerships - In H1 2025, the company signed a joint promotion agreement for Pemafibrate tablets with Xinghe Pharmaceutical and a market promotion service agreement for Mecobalamin injection with Eisai (China) [1] - Pemafibrate tablets, as a new generation of fibrate drugs, have broad market prospects, which will enrich the company's product pipeline and potentially increase revenue and profit [1] Competitive Positioning - The promotion of Pemafibrate tablets is expected to enhance the company's competitiveness in the cardiovascular field and improve its specialized academic promotion capabilities, laying the foundation for future product collaborations [1] Investment Rating - The company maintains a "Buy" rating [1]

Core Insights - On September 30, Yuheng Pharmaceutical experienced a decline of 0.96% with a trading volume of 106 million yuan, indicating a challenging market environment [1] - The company reported a net financing outflow of 13.63 million yuan on the same day, with a total financing and securities balance of 389 million yuan, which is 5.74% of its market capitalization [1] - As of September 19, the number of shareholders decreased by 1.03% to 105,700, while the average circulating shares per person increased by 1.04% to 19,831 shares [2] Financial Performance - For the first half of 2025, Yuheng Pharmaceutical achieved a revenue of 1.1 billion yuan, reflecting a year-on-year decrease of 9.97%, while the net profit attributable to shareholders increased by 7.56% to 134 million yuan [2] - Cumulatively, the company has distributed 692 million yuan in dividends since its A-share listing, with no dividends paid in the last three years [3] Shareholding Structure - As of June 30, 2025, Hong Kong Central Clearing Limited emerged as the fourth largest circulating shareholder, holding 31.23 million shares as a new investor [3]

Group 1 - The report highlights a marginal recovery in China's manufacturing PMI in September, indicating a rebound in production activities, with new orders and export orders showing upward trends [1] - The report suggests three main investment directions based on economic recovery and market liquidity: breakthroughs in technology AI, resonance between domestic and international markets, and the continued rise of undervalued assets [1] - In the A-share market, major indices maintained upward momentum in September, with the ChiNext index rising over 12% and net inflows from southbound funds reaching 172.65 billion yuan [3] Group 2 - The global small nucleic acid drug market is projected to grow at a compound annual growth rate of 26.1%, reaching 46.7 billion USD by 2033, driven by technological advancements and increasing clinical approvals [10] - The report details the clinical progress of small nucleic acid drugs in various therapeutic areas, indicating significant potential for growth in this sector [10] - The report recommends focusing on both international and domestic companies involved in small nucleic acid drugs, highlighting key players in the market [10] Group 3 - The report on Lian Microelectronics indicates a stable revenue growth of 14.18% year-on-year for H1 2025, driven by technological innovation and an integrated supply chain [12] - Despite the revenue growth, the company reported a significant increase in net losses, indicating ongoing profitability challenges [12] - The report emphasizes the importance of capacity expansion and integrated industry chain advantages for the company's stable operations [12] Group 4 - The report on Solon Technology highlights the opportunities created by electrification and domestic substitution trends in the nylon pipeline sector, with potential revenue growth driven by increased demand from electric vehicles [18] - The company has established long-term partnerships with over 30 automotive manufacturers, positioning itself well in the market [18] - Revenue projections for 2025-2027 indicate a growth trajectory, with expected revenues of 1.57 billion, 1.96 billion, and 2.39 billion yuan respectively [18] Group 5 - The report on Yuheng Pharmaceutical shows a decline in revenue by 9.97% in H1 2025, while net profit increased by 7.56%, indicating effective cost management [37] - The company has signed promotional agreements for new drug products, enhancing its market presence and potential revenue streams [37] - The introduction of Pemabet tablets is expected to strengthen the company's product pipeline and competitive position in the cardiovascular sector [38]

Core Insights - The company reported a revenue of 1.1 billion yuan for H1 2025, a decrease of 9.97% year-on-year, while the net profit attributable to shareholders increased by 7.56% to 134 million yuan [1] - Cost reduction and efficiency improvement measures are showing positive results, with sales expenses down 31.28% to 294 million yuan and management expenses down 21.58% to 56.75 million yuan [2] - The company signed promotional agreements for Pemabate tablets, which are expected to enhance its product pipeline and competitiveness in the cardiovascular field [3] - Revenue forecasts for 2025-2027 have been adjusted to 2.364 billion, 2.464 billion, and 2.661 billion yuan, while net profit forecasts have been increased to 258 million, 282 million, and 318 million yuan [4] Financial Performance - H1 2025 revenue: 1.1 billion yuan, down 9.97% year-on-year [1] - H1 2025 net profit: 134 million yuan, up 7.56% year-on-year [1] - H1 2025 non-recurring net profit: 107 million yuan, up 13.28% year-on-year [1] Cost Management - Sales expenses decreased from 428 million yuan to 294 million yuan, a reduction of 31.28% [2] - Sales expense ratio fell from 35.06% in H1 2024 to 26.76% [2] - Management expenses decreased from 72.37 million yuan to 56.75 million yuan, a reduction of 21.58% [2] - Asset-liability ratio improved from 31.66% to 28.70% [2] Product Development - The company signed a joint promotion agreement for Pemabate tablets, which have a promising market outlook [3] - Pemabate tablets are the first new selective PPARα modulator approved in China, aimed at lowering triglyceride levels [3] - The promotion of Pemabate tablets is expected to enhance the company's revenue and profit, as well as its academic promotion capabilities [3] Revenue and Profit Forecast - Adjusted revenue forecasts for 2025-2027: 2.364 billion, 2.464 billion, and 2.661 billion yuan [4] - Adjusted net profit forecasts for 2025-2027: 258 million, 282 million, and 318 million yuan [4]

Investment Rating - The investment rating for the company is "Buy" with a target price not specified [7][4]. Core Insights - The company reported a revenue of 1.1 billion yuan in H1 2025, a year-on-year decrease of 9.97%, while the net profit attributable to shareholders increased by 7.56% to 134 million yuan [1]. - The company continues to implement cost reduction and efficiency improvement measures, resulting in a significant decrease in sales and management expenses [2]. - The company has signed promotional agreements for the sales of Pemafibrate tablets, which are expected to enhance its product pipeline and competitive position in the cardiovascular field [3]. Financial Performance - In H1 2025, the company achieved a net profit of 134 million yuan, with a year-on-year increase of 7.56% [1]. - The sales expenses decreased from 428 million yuan in the previous year to 294 million yuan, a reduction of 31.28% [2]. - The company's asset-liability ratio improved from 31.66% to 28.70%, indicating enhanced financial stability [2]. Revenue and Profit Forecast - The revenue forecast for 2025-2027 has been adjusted to 2.364 billion yuan, 2.464 billion yuan, and 2.661 billion yuan respectively, while the net profit forecast has been increased to 258 million yuan, 282 million yuan, and 318 million yuan for the same period [4].

Core Insights - On September 24, Yuheng Pharmaceutical's stock increased by 0.31%, with a trading volume of 130 million yuan [1] - The company reported a financing buy-in of 10.47 million yuan and a financing repayment of 11.27 million yuan, resulting in a net financing outflow of 799,100 yuan [1] - As of September 24, the total margin balance for Yuheng Pharmaceutical was 409 million yuan, representing 5.81% of its market capitalization [1] Financing Overview - On the same day, the financing buy-in was 10.47 million yuan, with a current financing balance of 409 million yuan, which is above the 80th percentile level over the past year [1] - In terms of securities lending, there were no shares repaid or sold on September 24, with a remaining loan balance of 321 yuan, also exceeding the 80th percentile level over the past year [1] Company Performance - As of September 19, the number of shareholders for Yuheng Pharmaceutical was 105,700, a decrease of 1.03% from the previous period [2] - For the first half of 2025, the company reported a revenue of 1.1 billion yuan, a year-on-year decrease of 9.97%, while the net profit attributable to shareholders was 134 million yuan, reflecting a year-on-year increase of 7.56% [2] Dividend History - Since its A-share listing, Yuheng Pharmaceutical has distributed a total of 692 million yuan in dividends, with no dividends paid in the last three years [3] Shareholding Structure - As of June 30, 2025, Hong Kong Central Clearing Limited was the fourth largest shareholder among the top ten circulating shareholders, holding 31.23 million shares as a new investor [3]

证券日报网讯誉衡药业（002437）9月24日在互动平台回答投资者提问时表示，截至2025年9月19日，公 司股东总数约10.57万户。 ...