海南双成药业股份有限公司 股东会议事规则 海南双成药业股份有限公司 股东会议事规则 （2025 年 4 月修订） 第一章 总则 第一条 为维护海南双成药业股份有限公司（以下简称"公司"）股东合法 权益，明确股东会的职责权限，保证股东会依法行使职权，根据《中华人民共和 国公司法》（以下简称"公司法"）和《海南双成药业股份有限公司章程》（以下 简称"公司章程"）以及国家的相关法律、法规及规范性文件的规定，制定本规 则。 第二条 公司应当严格按照法律、法规、公司章程及本规则的相关规定召开 股东会，保证股东能够依法行使权利。公司董事会应当切实履行职责,认真、按 时组织股东会。公司全体董事应当勤勉尽责，确保股东会正常召开和依法行使职 权。 第三条 公司股东会由全体股东组成。股东会是公司的权力机构，应当在《公 司法》等相关法律、法规和规范性文件以及公司章程规定的范围内依法行使下列 职权： （一）选举和更换董事，决定有关董事的报酬事项； （二）审议批准董事会的报告； （三）审议批准公司的利润分配方案和弥补亏损方案； （八）对公司聘用、解聘承办公司审计业务的会计师事务所作出决议； （九）审议批准公司章程第四十七条规定的担保事 ...

海南双成药业股份有限公司 募集资金管理办法 海南双成药业股份有限公司 募集资金管理办法 （2025 年 4 月修订） 第一章 总则 第一条 为了规范海南双成药业股份有限公司（以下简称"公司"）募集资金 的管理和使用，最大程度地保障投资者的利益，提高募集资金使用效率，保护投 资者的合法权益，根据《中华人民共和国公司法》、《中华人民共和国证券法》、 《上市公司募集资金监管规则（征求意见稿）》、《深圳证券交易所上市公司自律 监管指引第 1 号——主板上市公司规范运作》、《公司章程》等法律法规，结合公 司实际情况，制定本制度。 第二条 本办法所称募集资金是指公司通过发行股票及其衍生品种，向投资 者募集并用于特定用途的资金。 本办法所称超募资金是指实际募集资金净额超过计划募集资金金额的部分。 第三条 公司董事会应当负责建立健全公司募集资金管理办法并确保本办法 的有效实施。 第四条 公司董事会应当对募集资金投资项目的可行性进行充分论证，确信 投资项目具有较好的市场前景和盈利能力，有效防范投资风险，提高募集资金使 用效益。 第五条 公司的董事和高级管理人员应当勤勉尽责，确保公司募集资金安全， 不得操控公司擅自或者变相改变募 ...

海南双成药业股份有限公司 董事、高级管理人员薪酬管理制度 海南双成药业股份有限公司 董事、高级管理人员薪酬管理制度 （2025 年 4 月修订） 第一章 总则 第一条 为进一步完善海南双成药业股份有限公司（以下简称"公 司"）董事、高级管理人员的薪酬管理，建立有效的激励与约束机制， 有效地调动公司董事、高级管理人员工作积极性，提高企业经营管理 水平，促进企业效益的增长，根据《中华人民共和国公司法》、《上市 公司治理准则》等有关法律、法规、规范性文件及《公司章程》的规 定，结合本公司的实际情况，制定本制度。 第二条 本制度适用于《公司章程》规定的董事、高级管理人员。 第三条 公司董事、高级管理人员薪酬管理遵循以下原则： （一）公平原则：体现收入水平符合公司规模与业绩的原则，同 时兼顾市场薪酬水平； （二）责、权、利统一原则：体现薪酬与岗位价值高低、履行责 任义务大小相符； （三）长远发展原则：体现薪酬与公司持续健康发展的目标相符； （四）激励约束并重原则：体现薪酬发放与考核、奖惩挂钩，与 公司激励机制挂钩。 第二章 薪酬管理机构 第四条 公司董事会薪酬与考核委员会负责制定公司董事、高级 海南双成药业股份有限公司 ...

海南双成药业股份有限公司 海南双成药业股份有限公司 董事会议事规则 董事会议事规则 （2025 年 4 月修订） 第一章 总则 第一条 为明确海南双成药业股份有限公司（以下简称"公司"）董事会的 职责权限，规范董事会的组织和行为，确保董事会的工作效率和科学决策，根据 《中华人民共和国公司法》（以下简称"公司法"）和《海南双成药业股份有限 公司章程》（以下简称"公司章程"）的规定，制定本规则。 第二条 董事会是公司的常设机构，对股东会负责，执行股东会决议，维护 公司和全体股东的利益，负责公司发展目标和重大经营活动的决策。 第二章 董事 第三条 董事为自然人。有下列情形之一的，不能担任公司的董事： （一）无民事行为能力或者限制民事行为能力； （二）因贪污、贿赂、侵占财产、挪用财产或者破坏社会主义市场经济秩序， 被判处刑罚，或者因犯罪被剥夺政治权利，执行期满未逾 5 年，被宣告缓刑的， 自缓刑考验期满之日起未逾二年； （三）担任破产清算的公司、企业的董事或者厂长、总经理，对该公司、企 业的破产负有个人责任的，自该公司、企业破产清算完结之日起未逾 3 年； （四）担任因违法被吊销营业执照、责令关闭的公司、企业的法定代 ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥36,675,823.05, a decrease of 14.23% compared to ¥42,761,740.63 in the same period last year[4] - The net profit attributable to shareholders was a loss of ¥10,040,496.02, representing a decline of 14.84% from a loss of ¥8,742,676.77 in the previous year[4] - The company's basic and diluted earnings per share were both -¥0.0242, a decrease of 14.69% from -¥0.0211 in the same period last year[4] - Net loss attributable to the parent company was CNY -10,040,496.02, compared to CNY -8,742,676.77 in the previous period, indicating a worsening of approximately 14.8%[20] Cash Flow - The net cash flow from operating activities improved significantly, with a net outflow of ¥4,836,758.99, a 79.54% increase compared to a net outflow of ¥23,640,127.59 last year[4] - The net cash flow from operating activities was -$4,836,758.99, an improvement from -$23,640,127.59 in the previous period[22] - Cash inflow from operating activities was CNY 41,202,488.27, down from CNY 46,288,023.21, a decrease of about 10.4% year-over-year[21] - Total cash outflow from operating activities decreased to $46,039,247.26 from $69,928,150.80[22] - Cash inflow from investment activities increased significantly to $86,578,478.38 compared to $46,581,555.73 in the prior period[22] - The net cash flow from investment activities was -$36,775,305.73, a decline from $13,456,988.93 previously[22] - Cash inflow from financing activities totaled $3,709,560.00, down from $25,931,612.24 in the last period[22] - The net cash flow from financing activities was -$147,635.85, a significant drop from $24,469,778.91[22] - The net increase in cash and cash equivalents decreased by 391.43% compared to the previous year, influenced by operating, investing, and financing activities[10] - The ending balance of cash and cash equivalents decreased to $3,439,716.44 from $17,684,279.51[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥762,219,967.93, down 2.76% from ¥783,866,026.52 at the end of the previous year[4] - Total current assets decreased from 155,969,514.43 RMB to 136,752,293.30 RMB, a reduction of approximately 12.3%[16] - Total liabilities decreased to CNY 364,114,607.47 from CNY 372,260,377.26, a decline of approximately 2.9%[17] - Current liabilities totaled CNY 170,971,610.83, down from CNY 176,987,637.83, reflecting a decrease of about 3.4%[17] - Non-current liabilities decreased to CNY 193,142,996.64 from CNY 195,272,739.43, a reduction of approximately 1.1%[17] - Total equity decreased to CNY 398,105,360.46 from CNY 411,605,649.26, indicating a decline of about 3.3%[17] Expenses - Sales expenses decreased by 47.94% year-on-year, primarily due to reduced product sales and lower market development investments[9] - R&D expenses fell by 50.95% compared to the previous year, reflecting a decrease in research investments[9] - Total operating costs decreased to CNY 51,367,471.72 from CNY 57,356,433.81, a reduction of about 10.4% year-over-year[19] Other Income and Transactions - Other income increased by 197.15% year-on-year, mainly due to higher government subsidy income[9] - The total amount of related party transactions with Ningbo Shuangcheng Pharmaceutical Co., Ltd. is 3,748,680.00 RMB, covering a three-year contract[14] Shareholder Information - Total number of common shareholders at the end of the reporting period is 79,029[12] - The largest shareholder, Hainan Shuangcheng Investment Co., Ltd., holds 32.92% of shares, totaling 136,516,546 shares[12] Strategic Decisions - The company plans to terminate the acquisition of 100% equity in Ningbo Aola Semiconductor Co., Ltd. due to disagreements on transaction terms[13] - The company is actively pursuing strategic transactions and partnerships to enhance its market position[13] Accounting and Audit - The company did not undergo an audit for the first quarter report[23] - The new accounting standards will be first implemented starting in 2025[24]

Financial Performance - The company's operating revenue for 2024 was approximately ¥174.21 million, a decrease of 26.16% compared to ¥235.93 million in 2023[21]. - The net profit attributable to shareholders for 2024 was a loss of approximately ¥78.30 million, representing a 54.32% increase in losses compared to a loss of ¥50.74 million in 2023[21]. - The net cash flow from operating activities for 2024 was negative ¥40.83 million, a decline of 450.76% compared to positive cash flow of ¥11.64 million in 2023[21]. - The total assets at the end of 2024 were approximately ¥783.87 million, a decrease of 2.41% from ¥803.25 million at the end of 2023[21]. - The net assets attributable to shareholders decreased by 16.56% to approximately ¥393.41 million at the end of 2024, down from ¥471.49 million at the end of 2023[21]. - The basic and diluted earnings per share for 2024 were both negative ¥0.19, a decline of 58.33% compared to negative ¥0.12 in 2023[21]. - The weighted average return on net assets for 2024 was negative 18.10%, a decrease of 7.86% from negative 10.24% in 2023[21]. - The company reported a significant increase in losses from non-recurring gains and losses, with a net profit of negative ¥71.71 million in 2024 compared to negative ¥24.14 million in 2023, marking a 197.05% increase in losses[21]. Revenue Breakdown - The company's total revenue for the first quarter was ¥42,761,740.63, while the fourth quarter revenue was ¥47,246,306.92, indicating fluctuations throughout the year[25]. - The net profit attributable to shareholders for the fourth quarter was -¥40,467,047.98, showing a significant loss compared to the first quarter's loss of -¥8,742,676.77[25]. - The net cash flow from operating activities was negative in three out of four quarters, with the highest cash flow of ¥3,797,914.60 occurring in the third quarter[25]. - The industrial segment generated CNY 129.21 million, representing 74.17% of total revenue, but saw a 40.89% decline compared to the previous year[53]. - The service sector revenue increased by 159.49% year-on-year, reaching CNY 45.00 million[53]. - The peptide product line accounted for 47.42% of total revenue, totaling CNY 82.61 million, down 27.00% from the previous year[53]. - The company reported a significant increase in contract research revenue, which rose by 223.05% to CNY 40.29 million[53]. Research and Development - Research and development investment for 2024 was CNY 39.97 million, accounting for 22.95% of operating revenue[46]. - The company is actively engaged in expanding its product pipeline and enhancing its research capabilities in response to evolving industry regulations and market demands[30]. - The company has advanced its research and development in polypeptide products, focusing on high market potential and complex synthesis[39]. - The company is currently developing multiple new products (SC-C139, SC-C116, SC-C140, SC-C143, SCH-009) aimed at enhancing its product line and core competitiveness[64]. - The company plans to accelerate R&D efforts, particularly in peptide APIs and formulations, while enhancing the sales team to boost product sales post-consistency evaluation[88]. Market and Industry Trends - The pharmaceutical manufacturing industry in China saw a revenue of ¥2,529.85 billion in 2024, with a profit total of ¥34.207 billion, reflecting a 1.1% decline from the previous year[29]. - The domestic pharmaceutical industry is experiencing a shift towards community hospitals and pharmacies, indicating a changing market landscape[84]. - The market for synthetic peptide drugs is expected to grow due to increasing demand driven by rising income levels and health awareness among residents[85]. - The company faces challenges from intensified competition in the peptide drug sector, including price reductions from centralized procurement policies[86]. Risk Factors - The company faces various risks including industry policy changes, drug price reductions, and financial risks, which may impact future operations[5]. - The company faces talent retention risks, particularly in high-level technical roles for new drug development, and is implementing diverse incentive mechanisms to attract and retain talent[97]. - Financial risks are highlighted due to increasing export business and potential foreign exchange fluctuations, with strategies in place to mitigate these risks through enhanced product value and financial management practices[97]. - The company is concerned about international trade environment risks that could affect resource availability and customer retention, potentially impacting production and costs[99]. Governance and Compliance - The company held two shareholder meetings during the reporting period, ensuring compliance with legal and regulatory requirements[104]. - The board of directors convened seven times, demonstrating diligence in governance and decision-making processes[106]. - The company has established a performance evaluation system for directors and senior management, ensuring transparency and accountability[106]. - The independent directors actively participated in decision-making and provided independent opinions on major issues[106]. - The company has established a robust financial accounting system, ensuring independent financial decision-making[111]. Environmental Initiatives - Environmental protection investments totaled approximately CNY 3.23 million, with upgrades to wastewater treatment systems and online monitoring systems implemented[48]. - The company achieved a 15% reduction in natural gas consumption after low-nitrogen transformation of two boilers, with nitrogen oxide emissions below 50 mg/Nm³[161]. - The company has implemented a dual A/O process for wastewater treatment to enhance pollutant treatment efficiency in 2024[160]. - The company has established an emergency response plan for environmental incidents, revised in May 2024, and conducted emergency drills[160]. Shareholder Commitments - The company has committed to fulfilling its obligations as a controlling shareholder and to ensure that related parties do not engage in transactions that infringe on the rights of other shareholders[166]. - The commitments are intended to prevent any conflicts of interest and ensure fair treatment of all shareholders[166]. - The company will ensure that any unavoidable related party transactions will comply with national laws and regulations, as well as the company's articles of association[168]. - The company will prioritize the acquisition of assets or equity related to competing businesses under equal conditions if such competition arises[168]. Dividend Policy - The company plans to distribute dividends in cash or a combination of cash and stock, prioritizing cash dividends[170]. - The company aims to maintain a cash dividend policy with a cumulative cash distribution of no less than 30% of the average distributable profit over the past three years[170]. - Cash dividends will be distributed annually, with conditions including positive distributable profits and sufficient cash flow[170].

Investment Rating - The report does not explicitly state an investment rating for the industry, but it suggests a long-term focus on domestic innovative drugs in the oncology field and AI medical investment opportunities [3][4]. Core Insights - The pharmaceutical and biotechnology sector saw a weekly increase of 1.16%, outperforming the Wind All A index (1.15%) and the CSI 300 index (0.38%) [3][8]. - The upcoming ASCO conference is highlighted as a significant event for domestic innovative drug companies, with over 70 oral presentations and more than 10 major studies expected [3][4]. - The Ministry of Industry and Information Technology and six other departments issued a plan for the digital transformation of the pharmaceutical industry, aiming for significant advancements by 2027 and full coverage by 2030 [3][4]. Market Weekly Review - The pharmaceutical and biotechnology sector increased by 1.16% from April 21 to April 25, outperforming the Wind All A index and the CSI 300 index [3][8]. - Notable performers included medical research outsourcing (6.34%) and raw materials (4.72%), while blood products (-3.26%) and vaccines (-6.38%) continued to decline [3][9]. - Individual stock performances showed significant gains for Yong'an Pharmaceutical (31.4%), Shuyou Shen (28.4%), and Erkang Pharmaceutical (27.7%), while *ST Jiyuan (-43.2%), Nanhua Biological (-35.3%), and Shuangcheng Pharmaceutical (-27.7%) faced substantial losses [3][11]. Industry News and Key Company Announcements - On April 25, Kangfang Bio announced FDA approval for its drug Anike for the treatment of recurrent or metastatic nasopharyngeal carcinoma [12]. - The same day, Kangfang Bio also reported the approval of its PD-1/VEGF bispecific antibody for first-line treatment of specific lung cancer types [13]. - The digital transformation plan for the pharmaceutical industry aims to enhance competitiveness and quality management through AI and data integration by 2030 [3][4].

Group 1 - Central Huijin has invested 1.76 billion yuan in the pharmaceutical sector, indicating a potential emergence of a new high-performing stock similar to Double-Creation Pharmaceutical [1] - The National Medical Products Administration has released a draft aimed at optimizing the regulatory framework for high-end medical devices, with a target for the pharmaceutical industry to exceed 2 trillion yuan by 2029, growing at a compound annual growth rate (CAGR) of over 12% [1] - The number of Chinese pharmaceutical companies certified by cGMP has surged by 87% year-on-year, highlighting a significant acceleration in internationalization [1] Group 2 - Two key pharmaceutical stocks identified as targets of Central Huijin's investment are Xinlitai, which has the world's first dual-indication antihypertensive drug, and a company recognized as a hidden champion in antibiotics with a strong product pipeline [3] - Xinlitai has eight clinical phase III projects and is collaborating with Huawei to build an AI drug development platform, reducing the drug development cycle by 40% [3] - The antibiotic company has a comprehensive supply chain for penicillin and cephalosporins, with a projected net profit increase of 2496.82% year-on-year in Q4 2024, reaching 127 million yuan [3]

Core Viewpoint - The article highlights the presence of Shenzhen Stock Connect seats in 17 stocks on the weekly leaderboard, indicating significant net buying activity and overall positive market performance for these stocks [1] Group 1: Net Buying Activity - A total of 17 stocks appeared on the leaderboard, with 12 showing net buying from Shenzhen Stock Connect seats [1] - The stocks with the highest net buying amounts were Satellite Chemical (58,960.09 million), Tuo Wei Information (23,414.60 million), and Lakala (8,096.46 million) [1] - The average increase for the stocks with net buying was 14.13%, outperforming the Shanghai Composite Index, which rose by 0.56% [1] Group 2: Stock Performance - The stock with the largest increase was Hai Lian Jin Hui, which saw a cumulative rise of 46.57% over the week [1] - Other notable performers included Satellite Chemical (21.43% increase) and Lakala (23.83% increase) [1] - The stocks with the highest turnover rates included Tuo Wei Information (68.12%) and Lakala (123.35%) [1] Group 3: Net Selling Activity - Five stocks experienced net selling, with the largest net sell amounts recorded for Ying Wei Ke (12,449.79 million) and Wuhan Fan Gu (4,295.78 million) [1] - The net selling stocks included Ying Wei Ke (-8.93% change) and Wuhan Fan Gu (28.87% increase despite net selling) [1]

据21投资通智能监测，33只个股龙虎榜出现了机构的身影，北向资金参与龙虎榜中的个股共涉及9只。 4月24日，上证指数上涨0.03%，深证成指下跌0.58%，创业板指下跌0.68%。盘后龙虎榜数据显示，共 有56只个股因当日异动登上龙虎榜，资金净流入最多的是海联金汇（002537.SZ），达2.01亿元。 2.01亿元资金抢筹海联金汇，1.35亿元资金出逃华西能源 56只上榜的龙虎榜个股中，30只个股被净买入，26只个股被净卖出。其中，资金净买入最多的是海联金 汇，达2.01亿元，占总成交金额的5.17%。海联金汇当日收盘上涨9.95%，换手率为37.27%。 机构净买入19股，净卖出14股 4月24日，33只个股龙虎榜出现了机构的身影，机构合计净卖出7710.43万元。具体来看，机构净买入19 股，净卖出14股。 其中，机构净买入金额最多的是青岛金王（002094.SZ），当日收盘上涨2.24%，换手率为57.39%。 | 贝因美 | 6.6% | 2 | 2 | 5611 | 1.74% | 42.95% | | --- | --- | --- | --- | --- | --- | --- | | 红宝丽 ...