证券代码：002603 证券简称：以岭药业 公告编号：2025-004 2、股东股份累计被质押的情况 截至公告披露日，上述股东及其一致行动人所持质押股份情况如下： | | | | 本次补充 | 本次补充质 | 占其所 | 占公司 | 已质押股份 情况 | | 未质押股份 情况 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东 | 持股数量 | 持股比 | 质押前质 | 押后质押股 | | | | | | | | | | | | | 持股份 | 总股本 | | | | | | 名称 | （股） | 例 | 押股份数 | 份数量 | 比例 | 比例 | 已质押股份 | 占已质 | 未质押股份 | 占未质 | | | | | 量（股） | （股） | | | | | | | | | | | | | | | 限售和冻结 | 押股份 | 限售和冻结 | 押股份 | | | | | | | | | 数量（股） | 比例 | 数量（股） | 比例 | | 以岭 | | | | | | | | | | | | --- | ...

Core Viewpoint - Yiling Pharmaceutical (002603.SZ), a leading innovative traditional Chinese medicine company, forecasts a significant net loss of 600 to 800 million yuan for 2024 due to multiple short-term adverse factors affecting its performance [1] Group 1: Financial Performance and Challenges - The company plans to reduce sales revenue from certain respiratory products nearing expiration and will recognize asset impairment losses on inventory, contributing to the expected losses [1] - The decline in revenue, rising raw material prices leading to decreased gross margins, and sustained high R&D investments are cited as reasons for the substantial reduction in operating profit [1] Group 2: Inventory and Market Dynamics - Despite the poor financial outlook, the company's operational situation is not as dire as the profit figures suggest, as the impairment of inventory risks is being addressed, which may benefit long-term growth [2] - The high inventory levels resulting from increased demand for Yiling's products during widespread respiratory diseases have led to market demand decline, impacting performance [2] Group 3: Raw Material Prices and Future Outlook - The pressure from rising raw material prices has been gradually alleviated since the second half of 2024, with the comprehensive index for traditional Chinese medicine materials dropping nearly 20% from historical highs [3] - The downward trend in raw material prices is expected to benefit Yiling's profitability in the long run, despite potential impairment pressures on related inventory [3] Group 4: R&D Investment and Long-term Strategy - The company maintains a high level of R&D investment, which may negatively impact short-term profits but is crucial for long-term growth, particularly in the patented traditional Chinese medicine sector [4] - Yiling is positioned favorably in the market, focusing on innovation and international expansion, with several new drug applications and clinical trials progressing well [4][5] Group 5: New Product Developments - Yiling's subsidiary has recently received approval for a new traditional Chinese medicine aimed at treating persistent allergic rhinitis, increasing its portfolio of innovative patented medicines to 15 [5] - The company plans to continue submitting one to two new drug applications annually, with expectations for sustained growth supported by ongoing high R&D investments [5]

Financial Performance - The company expects a net loss of between 60 million and 80 million yuan for the fiscal year 2024, a decline of 144.37% to 159.16% compared to the previous year's profit of 135.24 million yuan [3]. - The net profit after deducting non-recurring gains and losses is projected to be a loss of between 59.14 million and 79.14 million yuan, down 146.76% to 162.57% from last year's profit of 126.47 million yuan [3]. - Basic earnings per share are expected to be a loss of between 0.36 yuan and 0.48 yuan, compared to earnings of 0.81 yuan per share in the previous year [3]. Factors Affecting Performance - The significant decline in performance is attributed to the write-down of sales revenue for certain respiratory products nearing expiration, increased raw material costs, and high R&D expenditures [5]. Research and Development - The company maintains a strong commitment to R&D, with ongoing clinical trials for new products such as the pediatric Lianhua Qinggan Granules and the acceptance of the registration application for Chaihuang Lidan Capsules [7]. - In 2025, the company plans to enhance its core technological innovation capabilities and expand sales channels to increase market share and clinical value of its products [7].

证券代码：002603 证券简称：以岭药业 公告编号：2024-040 石家庄以岭药业股份有限公司 关于实际控制人部分股份质押展期的公告 石家庄以岭药业股份有限公司（以下简称"公司"或"本公司"）于2024年12月 18日接到公司实际控制人吴瑞的通知，获悉吴瑞所持有本公司的部分股份办理质 押展期，具体事项如下： 吴瑞女士资信状况良好，具备良好的资金偿还能力，质押风险可控，不存在 实质性资金偿还风险。上述质押展期行为不会导致公司实际控制权发生变更、不 会对公司生产经营和公司治理产生影响。若出现平仓风险，吴瑞女士将采取补充 质押、提前购回被质押股份等措施应对风险。 一、 股东部分股份质押展期的基本情况 | 股东名 | 是否为控股 股东或第一 | 本次质押展 | 占其所 | 占公司 | 是否为 | 是否为补 | 原质押起 | 展期后到 | | 质押 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 称 | 大股东及其 | 期数量 | 持股份 | 总股本 | 限售股 | 充质押 | 始日 | 期日 | 质权人 | 用途 | ...

证券代码：002603 证券简称：以岭药业 公告编号：2024-039 剂 型：颗粒剂 申请事项：新药临床试验 石家庄以岭药业股份有限公司 关于中药新药"连花御屏颗粒"药物临床试验注册申请 获得批准的公告 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。 石家庄以岭药业股份有限公司（以下简称"公司"）全资子公司北京以岭药 业有限公司（以下简称"北京以岭"）于 2024 年 12 月 12 日收到国家药品监督 管理局核准签发的《药物临床试验批准通知书》，现将相关情况公告如下： 一、临床试验申请及批准通知书主要内容 药物名称：连花御屏颗粒 注册分类：中药新药 1.1 类 适 应 症：普通感冒气虚证 三、风险提示 公司后续将根据国家药品监督管理局临床试验的相关要求和指导原则，开展 临床试验。 由于药物研发的特殊性，从临床试验的申请到药物成功获批上市，周期长、 环节多，易受到诸多不可预测的因素影响，临床试验的申请与开展、进度以及结 果、未来产品市场竞争形势均存在诸多不确定性，公司将根据研发进展情况及时 履行信息披露义务，敬请广大投资者注意投资风险。 特此公告。 受 理 ...

证券代码：002603 证券简称：以岭药业 公告编号：2024-038 石家庄以岭药业股份有限公司 关于全资子公司制剂产品获得美国 FDA 批准文号的公告 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。 近日，石家庄以岭药业股份有限公司（以下简称"公司"）收到美国食品药 品监督管理局（以下简称美国 FDA）的通知，公司全资子公司以岭万洲国际制药 有限公司向美国 FDA 注册申报的 ANDA 产品辛伐他汀片（ANDA，即美国新药 简略申请）已获得批准（申请获得美国 FDA 审评批准意味着申请者可以生产并 在美国市场销售该产品）。现将相关情况公告如下： 一、药品的基本情况 1、药品名称：辛伐他汀片 2、ANDA 号：211394 3、剂型：口服固体制剂 片剂 二、药品的其他相关情况 辛伐他汀片是一种降脂药，适应症主要包括：1.通过减少冠心病死亡来降低 总死亡率，降低高危冠状动脉疾病患者发生非致命心肌梗死、中风和需要进行血 管重建手术的风险。2.降低原发性高脂血症（杂合子家族性和非家族性）和混合 性高脂血症患者的总胆固醇、低密度脂蛋白胆固醇、载脂蛋白 B 和甘油三酯 ...

石家庄以岭药业股份有限公司 证券代码：002603 证券简称：以岭药业 公告编号：2024-037 关于公司药品通过谈判纳入《国家医保目录》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。 根据国家医疗保障局网站于 2024 年 11 月 28 日发布的《关于印发<国家基本 医疗保险、工伤保险和生育保险药品目录(2024 年)>的通知》（医保发【2024】 33 号），石家庄以岭药业股份有限公司（以下简称"公司"）独家产品通络明 目胶囊通过了医保谈判，首次被纳入《国家基本医疗保险、工伤保险和生育保险 药品目录（2024 年）》（以下简称"《国家医保目录》"）。具体情况如下： 生产厂家：石家庄以岭药业股份有限公司 剂型：胶囊剂 药品注册分类：中药 1.1 类 功能主治：化瘀通络，益气养阴，止血明目。用于 2 型糖尿病引起的中度非 增殖性糖尿病视网膜病变血瘀络阻、气阴两虚证所致的眼底点片状出血、目睛干 涩、面色晦暗、倦怠乏力，舌质淡，或舌暗红少津，或有瘀斑瘀点，脉细，或脉 细数，或脉涩。 是否独家品种：是 药品分类及代码：扶正剂 ZE02 医保支付标准：2. ...

Core Viewpoint - The strategic collaboration between Hangzhou Changxi Pharmaceutical Co., Ltd. and Shijiazhuang Yiling Pharmaceutical Co., Ltd. focuses on the development of innovative drugs for lung and related diseases, leveraging Changxi's expertise in inhalation powder technology [1] Company Summary - Hangzhou Changxi Pharmaceutical Co., Ltd. is a subsidiary of Yipinhong and specializes in the development of inhalation powder formulations [1] - Shijiazhuang Yiling Pharmaceutical Co., Ltd. is engaged in the research and development of innovative drug molecules targeting lung diseases [1] Industry Summary - The collaboration aims to combine the strengths of both companies to ensure the market success of the developed products in the therapeutic area of lung diseases [1]

Investment Rating - The report maintains a "Buy" rating for Yiling Pharmaceutical (002603 SZ) [2] Core Views - Yiling Pharmaceutical's Q3 revenue decline narrowed, with respiratory drug demand expected to recover in Q4, potentially stabilizing revenue [2] - The company reported a 25 76% YoY decline in revenue to 6 365 billion yuan and a 68 46% YoY drop in net profit to 555 million yuan for the first three quarters of 2024 [2] - Q3 revenue was 1 761 billion yuan, down 1 3% YoY, with net profit falling 84 07% to 24 32 million yuan [2] - Gross margin decreased by 7 62 percentage points to 53 39%, while net margin dropped by 11 82 percentage points to 8 63% [2] - High prices of traditional Chinese medicine raw materials, such as Coptis, contributed to the margin decline [2] R&D and Innovation - Yiling Pharmaceutical's core competitiveness lies in its strong R&D capabilities, particularly in the field of collateral disease theory [3] - The company invested 572 million yuan in R&D in the first three quarters of 2024, with an R&D expense ratio of 8 99% [3] - Several new drugs, including Qifang Bitong Tablets and Chaihuang Lidan Capsules, have been accepted for new drug applications [3] - Seven drugs are currently in clinical stages, with two in Phase III clinical trials [3] - The company plans to submit 1-2 new drug applications annually, focusing on respiratory, endocrine, gastrointestinal, and pediatric fields [3] Financial Projections - Revenue for 2024-2026 is projected to be 8 841 billion yuan, 9 928 billion yuan, and 11 436 billion yuan, respectively, with YoY growth rates of -14 3%, 12 3%, and 15 2% [5] - Net profit attributable to shareholders is expected to be 870 million yuan, 1 111 billion yuan, and 1 364 billion yuan for 2024-2026 [5] - EPS is forecasted at 0 52 yuan, 0 67 yuan, and 0 82 yuan for the respective years [5] - The PE ratio is estimated at 32 45x, 25 40x, and 20 70x for 2024-2026 [5] Key Financial Metrics - Gross margin is expected to remain stable at around 55 7%-55 9% from 2024-2026 [6] - ROE is projected to recover from 7 4% in 2024 to 10 5% in 2026 [6] - The company's debt-to-asset ratio is forecasted to decrease from 32 6% in 2023 to 30 8% in 2026 [6]

Investment Rating - The report maintains a "Buy" rating for Yiling Pharmaceutical (002603 SZ) [1][3] Core Views - Yiling Pharmaceutical's Q3 2024 performance was under pressure, with revenue of 6 365 billion yuan, down 25 8% YoY, and net profit attributable to parent company of 550 million yuan, down 68 5% YoY [1] - The company's respiratory product sales are expected to gradually recover as external factors stabilize, with Lianhua Qingke tablets showing strong growth potential after OTC approval [1] - Yiling Pharmaceutical is deepening academic promotion efforts in the cardiovascular field, aiming to drive stable growth of its Tongcanqi product [1] - The company has a robust innovation pipeline, with 7 products in clinical stages, including Lianhua Qingke Granules for children and Luobitong Tablets for rheumatoid arthritis [1] Financial Performance - For Q3 2024, Yiling Pharmaceutical reported revenue of 1 761 billion yuan, down 1 3% YoY, and net profit attributable to parent company of 24 million yuan, down 84 1% YoY [1] - The company's 2024-2026 net profit forecasts are adjusted to 814 million yuan, 1 078 billion yuan, and 1 248 billion yuan, with growth rates of -39 8%, 32 5%, and 15 8% respectively [1] - Yiling Pharmaceutical's 2024E revenue is projected at 8 7 billion yuan, with a YoY decline of 15 7%, while 2025E and 2026E revenues are expected to grow by 15 5% and 14 4% respectively [2] Valuation Metrics - The company's 2024E-2026E P/E ratios are 37X, 28X, and 24X respectively [1] - Yiling Pharmaceutical's 2024E-2026E P/B ratios are 2 5X, 2 4X, and 2 2X respectively [2] - The stock's closing price on November 7, 2024 was 17 92 yuan, with a total market capitalization of 29 939 billion yuan [3] Product Pipeline - Yiling Pharmaceutical plans to submit 1-2 new drug applications annually, with Qifang Bitong Tablets for persistent allergic rhinitis and Chaihuang Lidan Capsules for chronic cholecystitis currently under review [1] - The company's Qiluo Mingmu Capsule for diabetic retinopathy was approved in 2023, adding to its innovative product portfolio [1] Market Position - Yiling Pharmaceutical operates in the traditional Chinese medicine sector, with a strong presence in respiratory and cardiovascular therapeutic areas [1][3] - The company's Lianhua Qingke tablets have demonstrated rapid market penetration since their launch, benefiting from the company's established respiratory product brand and distribution channels [1]