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以岭药业2024年研发占比14% 保持创新研发投入加码可持续发展
Zheng Quan Zhi Xing· 2025-04-28 16:10
Core Viewpoint - Yiling Pharmaceutical (002603) emphasizes its commitment to technological innovation as a core competitive advantage, with R&D investment exceeding 900 million yuan, accounting for 13.94% of its revenue, significantly higher than the industry average [1][4]. R&D Investment - From 2019 to 2023, Yiling Pharmaceutical's total R&D investment approached 4 billion yuan, demonstrating a consistent growth trend [1][3]. - The company has a substantial patent portfolio, with 884 effective patents as of the end of 2024, creating a strong technological barrier [4]. Product Pipeline and Innovation - Yiling Pharmaceutical has developed 17 patented traditional Chinese medicines (TCM), with 11 included in the national medical insurance directory and 5 in the essential drug list [4]. - The company has a rich pipeline of innovative TCM products, with 2 first-class new drugs nearing market launch and several others in various clinical stages [5][6]. Clinical Research and Achievements - The company has successfully completed five evidence-based medical studies focusing on cardiovascular disease prevention, receiving an "excellent" performance evaluation [4]. - Research results have been published in prestigious international medical journals, significantly impacting the medical community [4]. Business Diversification - Yiling Pharmaceutical is expanding into biopharmaceuticals and health industries, creating a synergistic development model that includes patented TCM, biopharmaceuticals, and health products [7]. - The health product line includes various series targeting different health needs, with one proprietary health food product approved for production in 2024 [7].
以岭药业(002603) - 年度股东大会通知
2025-04-28 16:03
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。 石家庄以岭药业股份有限公司(以下简称"公司")于2025年4月28日召开第八 届董事会第十五次会议,决议召开公司2024年年度股东大会,现将有关事宜通知如 下: 证券代码:002603 证券简称:以岭药业 公告编号:2025-018 石家庄以岭药业股份有限公司 关于召开2024年年度股东大会的通知 一、召开会议的基本情况 1、股东大会届次:2024 年年度股东大会 2、股东大会的召集人:公司董事会 3、本次股东大会会议召开符合有关法律、行政法规、部门规章、规范性文件和 公司章程相关规定。 4、会议召开的日期、时间: (1)现场会议时间:2025 年 5 月 26 日(星期一)下午 14:30 (2)网络投票时间: 2025 年 5 月 26 日。其中,通过深圳证券交易所交易系统 进行网络投票的时间为 2025 年 5 月 26 日上午 9:15—9:25,9:30—11:30,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体时间为 2025 年 5 月 26 日 9:15 至 15:00 ...
以岭药业(002603) - 监事会决议公告
2025-04-28 16:02
证券代码:002603 证券简称:以岭药业 公告编号:2025-011 第八届监事会第十次会议决议公告 石家庄以岭药业股份有限公司第八届监事会第十次会议于 2025 年 4 月 28 日在公司会议室以现场方式召开。本次会议通知和文件于 2025 年 4 月 18 日以电 话通知并电子邮件方式发出。会议应到监事 3 人,实际出席监事 3 人。会议由监 事会主席高学东先生主持。本次会议的召集程序、审议程序和表决方式均符合《公 司法》、相关法律法规及本公司章程的规定。 会议以记名投票表决方式审议通过了以下议案并形成决议如下: 一、审议通过了《2024 年度监事会工作报告》。 表决情况:同意 3 票,反对 0 票,弃权 0 票。 本议案需提请公司股东大会审议。 《2024 年度监事会工作报告》同日刊登于巨潮资讯网(www.cninfo.com.cn)。 二、审议通过了《<2024 年年度报告>及摘要》。 石家庄以岭药业股份有限公司 五、审议通过了《2024 年度内部控制评价报告》。 监事会认为:公司已建立了较为完善的内部控制制度体系并得到了有效地执 行,符合《深圳证券交易所上市公司内部控制指引》及其他相关文件的要求。 ...
以岭药业(002603) - 第八届董事会2025年第一次独立董事专门会议决议
2025-04-28 16:01
石家庄以岭药业股份有限公司 第八届董事会 2025 年第一次独立董事专门会议决议 石家庄以岭药业股份有限公司(以下简称"公司")第八届董事会 2025 年 第一次独立董事专门会议于 2025 年 4 月 28 日以现场方式召开,应参加会议独立 董事 3 人,实际参加会议独立董事 3 人。会议审议通过了以下议案: 1、审议通过了《关于预计 2025 年度日常关联交易的议案》。 我们认为:(1)公司 2024 年度日常关联交易对公司日常经营及业绩未产生 重大影响,2024 年度关联交易实际发生总额未超过预计总金额,实际发生金额 与预计金额存在差异属于正常的经营行为,符合公司实际经营情况,交易定价公 允、合理,未出现损害公司及全体股东利益,特别是中小股东利益的情形。 (2)公司与各主要关联方的日常关联交易符合公司 2025 年度经营所需要, 且涉及金额占公司同类业务比重较低,对公司的财务状况、经营成果不会构成重 大影响,公司的主营业务不会因此类关联交易而对关联方形成依赖,不会影响公 司的独立性;关联交易定价原则为按市场价格定价,遵循公平、公正、公开的原 则,不存在损害公司和全体股东特别是中小股东利益的行为。 公司本 ...
以岭药业(002603) - 董事会决议公告
2025-04-28 16:01
证券代码:002603 证券简称:以岭药业 公告编号:2025-010 石家庄以岭药业股份有限公司 第八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。 石家庄以岭药业股份有限公司第八届董事会第十五次会议于 2025 年 4 月 28 日在公司会议室以现场方式召开。本次会议通知和文件于 2025 年 4 月 18 日以电 话通知并电子邮件方式发出。会议应参加表决董事9人,实际参加表决董事9人。 会议由公司董事长吴相君主持,监事会成员、公司高级管理人员列席了会议。本 次会议的召集程序、审议程序和表决方式均符合《公司法》、相关法律法规及本 公司章程的规定。 会议以记名投票表决方式审议通过了以下议案并形成决议如下: 一、审议通过了《2024 年度总经理工作报告》。 表决情况:同意 9 票,反对 0 票,弃权 0 票。 二、审议通过了《2024 年度董事会工作报告》。 表决情况:同意 9 票,反对 0 票,弃权 0 票。 本议案需提请公司股东大会审议。 公司现任独立董事刘骁悍、陈刚、柴振国向董事会提交了独立董事述职报告, 并将在 2024 ...
以岭药业(002603) - 关于2024年度利润分配预案的公告
2025-04-28 16:00
证券代码:002603 证券简称:以岭药业 公告编号:2025-012 石家庄以岭药业股份有限公司 关于 2024 年度利润分配预案的公告 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。 三、利润分配预案的具体情况 (一)公司 2024 年度利润分配预案不触及其他风险警示情形 2 | 项目 | 本年度 | 上年度 | 上上年度 | | --- | --- | --- | --- | | 现金分红总额(元) | 0.00 | 501,211,612.80 | 835,352,688.00 | | 回购注销总额(元) | 0.00 | 0.00 | 0.00 | | | -724,515,582.24 | 1,352,379,242.86 | 2,361,804,714.55 | | 利润(元) | | | | | | | 5,280,359,642.51 | | | 分配利润(元) | | | | | | | 5,060,397,687.83 | | | 未分配利润(元) | | | | | 上市是否满三个完整会 | | 是 | | | 计年度 | | | | ...
以岭药业2025年一季度扣非归母净利润3.25亿元,实现双位数增长
Xin Lang Zheng Quan· 2025-04-28 15:56
Core Viewpoint - Yiling Pharmaceutical reported a significant loss in 2024 due to revenue reduction from near-expiry respiratory products and inventory impairment, but showed improvement in Q1 2025 with a notable increase in net profit and cash flow [1][2][3][4]. Financial Performance - In 2024, the company achieved a total revenue of 6.513 billion yuan, with a net loss of 725 million yuan primarily due to the write-down of near-expiry respiratory products and inventory impairment [1][2]. - For Q1 2025, the company reported a revenue of 2.358 billion yuan and a net profit of 326 million yuan, marking a year-on-year growth of 7.25% [2]. - The net profit attributable to the parent company, after excluding non-recurring items, was 325 million yuan, reflecting an 11.23% increase year-on-year [2]. - The gross margin for Q1 2025 was 53.82%, up by 2.34 percentage points, while the net margin was 13.82%, an increase of 1.85 percentage points [2]. Cash Flow and Receivables - The net cash flow from operating activities for 2024 was 611 million yuan, a year-on-year increase of approximately 293%, with Q4 2024 alone showing a cash flow of 288 million yuan, up over 26 times [3]. - In Q1 2025, the operating cash flow reached 340 million yuan, nearly doubling year-on-year and exceeding the net profit for the same period [3]. - Accounts receivable at the end of 2024 were 1.225 billion yuan, a significant decrease of 50% from the beginning of the year [3]. Debt and Financial Health - Total liabilities at the end of 2024 were 3.117 billion yuan, down by 24.24 billion yuan or 43.75% year-on-year, leading to a reduction in the debt-to-asset ratio by nearly 10 percentage points to 23.4% [3]. R&D Investment - In 2024, the company's R&D investment exceeded 900 million yuan, accounting for 13.9% of total revenue, positioning it as a leader in the industry [5]. - The company expanded its innovative traditional Chinese medicine portfolio to 17 products, covering eight major clinical disease systems, with significant advancements in cardiovascular and respiratory medications [5]. - Several new drugs received approval or acceptance from the National Medical Products Administration, including treatments for allergic rhinitis and gallbladder inflammation [5].
以岭药业(002603) - 2024 Q4 - 年度财报
2025-04-28 15:50
Financial Performance - The company's operating revenue for 2024 was CNY 6,512,734,471.7, a decrease of 36.88% compared to CNY 10,318,312,851 in 2023[14]. - The net profit attributable to shareholders was a loss of CNY 724,515,582.24, representing a decline of 153.57% from a profit of CNY 1,352,379,242.8 in the previous year[14]. - Basic earnings per share were -CNY 0.4337, down 153.58% from CNY 0.8095 in 2023[14]. - Total assets at the end of 2024 were CNY 13,319,171,088, a decrease of 21.56% from CNY 16,979,326,536 in 2023[14]. - The net assets attributable to shareholders decreased by 10.71% to CNY 10,223,487,732 from CNY 11,449,722,316 in 2023[14]. - The company did not distribute any cash dividends or bonus shares for the year 2024[5]. - The company faced significant challenges leading to a substantial decline in both revenue and profit margins compared to previous years[14]. - The management highlighted the need for strategic adjustments to address the current market conditions and improve financial performance moving forward[5]. Cash Flow and Investment - The net cash flow from operating activities increased by 293.04% to CNY 611,013,171.11, compared to CNY 155,457,433.79 in 2023[14]. - The cash flow from operating activities in Q4 2024 was CNY 288.38 million, showing a recovery compared to previous quarters[23]. - The net cash flow from investment activities rose by 279.27% to CNY 1.61 billion, attributed to increased redemption of financial products and reduced investment payments[194]. - The company's investment activities cash outflow decreased by 45.00% to CNY 2.54 billion in 2024, compared to CNY 4.63 billion in 2023[194]. Research and Development - The company is committed to enhancing its research and development efforts to innovate new products and technologies in the pharmaceutical sector[5]. - The company has developed 17 patented traditional Chinese medicines covering 8 major clinical disease systems, with a leading position in the cardiovascular and respiratory disease treatment fields[39]. - The company has received over 400 traditional Chinese medicine invention patents and has won multiple national and provincial scientific and technological awards, including 1 first-class and 4 second-class national scientific and technological progress awards[39]. - The company is focusing on R&D in key disease areas such as cardiovascular, respiratory, and endocrine systems, with multiple projects at various stages of development[130]. - The company has developed over 10 national patent new drugs, covering major diseases such as cardiovascular, respiratory, tumors, diabetes, and neurological disorders, establishing a solid foundation for future growth[110]. Market Position and Strategy - The company is focusing on enhancing its product offerings and expanding its market presence in response to the evolving healthcare landscape in China[34]. - The company has established a comprehensive health industry system integrating medicine, health, and wellness, launching a series of health products including cardiovascular health and anti-aging products[42]. - The company has established a nationwide professional promotion network through partnerships with pharmaceutical distribution enterprises[91]. - The company has formed strategic partnerships with major e-commerce platforms like JD Health and Alibaba Health to enhance its B2B/B2C sales channels[161]. - The company aims to become a leading brand in innovative traditional Chinese medicine and health products through effective media strategies and marketing campaigns[159]. Product Development and Clinical Research - The company has received clinical approval for new drug applications, including Chai Huang Li Dan capsules and Lianhua Yuping granules[130]. - The company is actively conducting ongoing evidence-based medical research on its marketed products, further enhancing their clinical value[116]. - The company has completed multiple post-marketing clinical studies for its products, establishing a solid evidence base for clinical promotion[116]. - The company’s products have undergone randomized, double-blind, multi-center evidence-based medical research, with some results published in international authoritative journals, significantly impacting the medical community[110]. Regulatory and Compliance - The company has obtained 13 ANDA products approved by the US FDA, with one currently under review, and has established agency cooperation with several large US sales companies to continuously enter the US market[146]. - The biopharmaceutical segment aims to achieve compliance with EU and US GMP standards, with successful certification of two factories in Shijiazhuang and Miyun[144]. - The company has registered 14 national standard varieties for formula granules, expanding its prescription field[190]. Awards and Recognition - The company received the 2023 Traditional Chinese Medicine R&D Breakthrough Award in January 2024[173]. - The company was recognized as one of the Top 100 Innovative Pharmaceutical Enterprises in China in September 2024[173]. - The company has received multiple honors, including being listed among China's top 100 innovative brands and top 10 in the pharmaceutical health industry brand value rankings[125]. Challenges and Future Outlook - The company has faced uncertainties regarding its ability to continue as a going concern, as indicated by the negative net profits over the last three accounting years[22]. - The company is actively seeking partnerships in the European market while preparing multiple products for registration[146]. - The company aims to become a large multinational pharmaceutical enterprise with independent intellectual property rights through the development of innovative drugs and international registrations[152].
以岭药业(002603) - 2025 Q1 - 季度财报
2025-04-28 15:50
Financial Performance - The company's revenue for Q1 2025 was ¥2,358,232,707.77, a decrease of 6.52% compared to ¥2,522,632,691.84 in the same period last year[4] - Net profit attributable to shareholders increased by 7.25% to ¥325,953,296.25 from ¥303,927,918.74 year-on-year[4] - Basic and diluted earnings per share rose by 7.26% to ¥0.1951 from ¥0.1819 in the same quarter last year[4] - Total operating revenue for the current period is ¥2,358,232,707.77, a decrease of 6.5% from ¥2,522,632,691.84 in the previous period[18] - Net profit attributable to the parent company increased to ¥325,953,296.25, up 7.0% from ¥303,927,918.74 in the previous period[20] - The total comprehensive income for the current period is ¥324,101,020.55, compared to ¥301,886,529.06 in the previous period[20] Cash Flow - The net cash flow from operating activities surged by 190.67% to ¥340,097,107.41, compared to ¥117,005,271.96 in the previous year[4] - Cash generated from operating activities increased to ¥2,035,275,225.73, up from ¥1,936,876,740.92 in the previous period[22] - Cash inflow from operating activities totaled $2,180,849,648.91, compared to $1,991,079,544.74 in the previous year, reflecting a year-over-year increase[23] - Cash outflow from operating activities was $1,840,752,541.50, slightly decreased from $1,874,074,272.78[23] - The company reported a net exchange loss of ¥54,894.21 in other comprehensive income, compared to a loss of ¥33,169.55 in the previous period[20] - The impact of exchange rate changes on cash and cash equivalents was positive, contributing $81,373.65 to the total[23] Assets and Liabilities - Total assets increased by 2.81% to ¥13,694,088,012.80 from ¥13,319,171,088.28 at the end of the previous year[4] - The company's equity attributable to shareholders grew by 3.19% to ¥10,549,386,134.31 from ¥10,223,487,732.27 at the end of last year[4] - Total liabilities increased to ¥3,167,894,326.54, compared to ¥3,117,078,422.57 in the previous period[16] - Non-current liabilities decreased slightly to ¥506,741,246.93 from ¥510,389,530.41 in the previous period[16] - The total liabilities include accounts payable of ¥1,766,550,464.18, down from ¥1,846,575,493.59, a decrease of approximately 4.3%[15] Shareholder Information - The total number of common shareholders at the end of the reporting period is 185,292[11] - The largest shareholder, Yiling Pharmaceutical Technology Co., Ltd., holds 31.53% of shares, totaling 526,775,963 shares[11] - The second-largest shareholder, Wu Xiangjun, holds 20.81% with 347,728,119 shares, of which 260,796,089 shares are pledged[11] Inventory and Receivables - Accounts receivable increased by 31.17% to ¥1,607,442,791.61, primarily due to increased sales volume[8] - Inventory decreased to ¥1,385,508,236.24 from ¥1,746,380,345.14, reflecting a decline of approximately 20.7%[15] - Accounts receivable rose to ¥1,607,442,791.61 from ¥1,225,430,236.42, indicating an increase of about 31.1%[15] Investment Activities - The company experienced a 356.62% decline in cash flow from investing activities, resulting in a net outflow of ¥198,379,807.59, primarily due to reduced redemptions of financial products[9] - Total cash inflow from investment activities decreased to $280,127,334.14 from $1,481,130,024.34, indicating a decline in investment returns[23] - Cash received from investment recoveries was $280,000,000.00, a significant drop from $1,467,775,784.74 in the previous year[23] - Cash paid for investments was $439,800,000.00, down from $1,341,000,000.00, indicating reduced capital expenditures[23] Operational Insights - The company has ongoing development expenditures of ¥270,129,783.30, up from ¥262,797,369.23, showing an increase of about 2.4%[15] - The company has not reported any new product launches or significant market expansion strategies in the current quarter[13] - The company's cash flow management reflects a strategic focus on improving operational efficiency while navigating investment challenges[23]
医药生物行业周报:关注左侧中药板块的结构性机会
KAIYUAN SECURITIES· 2025-04-27 10:23
Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The Chinese traditional medicine sector is expected to experience a relative recovery in 2025, with opportunities in key lines and individual stocks [4][12] - The overall market demand is gradually recovering due to the end of the pandemic and the impact of influenza, leading to a high base and inventory digestion pressure in 2024 [4][12] - The State Council's March 2025 document supports the quality improvement of traditional Chinese medicine, which is expected to stimulate innovation and commercialization of high-quality products [5][13] Summary by Sections Industry Trends - In April 2025, the pharmaceutical and biotechnology sector rose by 1.16%, outperforming the CSI 300 index by 0.77 percentage points [6][15] - The medical research outsourcing sector saw the largest increase of 6.34%, while the vaccine sector experienced the largest decline of 3.78% [20][21] Investment Opportunities - Four main investment lines are identified: 1. Innovative R&D-focused companies with strong capabilities, benefiting from accelerated approvals and optimized procurement, recommended stocks include Fangsheng Pharmaceutical, Yuyuan Pharmaceutical, Tianshili, and Yiling Pharmaceutical [5][14] 2. State-owned enterprises undergoing operational efficiency improvements, recommended stocks include Dong'e Ejiao, Jiangzhong Pharmaceutical, and Kunming Pharmaceutical [5][14] 3. Companies with strong brand power and relatively scarce products, recommended stocks include Zoli Pharmaceutical and Lingrui Pharmaceutical [5][14] 4. Companies experiencing turnaround and valuation recovery, recommended stock includes Jichuan Pharmaceutical [5][14] Market Performance - The traditional Chinese medicine sector has faced pressure since the pandemic, but the situation is expected to improve in 2025 as macro disturbances ease [4][12] - The price index of traditional Chinese medicine materials has been declining since mid-July 2024, which is expected to alleviate the gross margin pressure on companies in 2025 [5][12]