凯莱英医药集团（天津）股份有限公司 内部控制制度 （2025 年 12 月修订） 1 凯莱英医药集团（天津）股份有限公司 内部控制制度 第一章 总则 第一条 为加强凯莱英医药集团（天津）股份有限公司（以下简称"公司"） 的内部控制，促进公司规范运作和健康发展，保护股东合法权益，根据《中华 人民共和国公司法》《中华人民共和国证券法》《深圳证券交易所股票上市规 则》（以下简称《上市规则》）、《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》等法律、法规、规范性文件和《凯莱英医药集团 （天津）股份有限公司章程》（以下简称"《公司章程》"）的规定，结合公 司实际，特修订完善本制度。 （四）确保公司信息披露的真实、准确、完整和公平。 第三条 公司董事会负责公司内部控制制度的制定和有效执行，审计委员会 负责审查企业内部控制，监督内部控制的有效实施和内部控制自我评价情况， 协调内部控制审计及其他相关事宜等。 第二章 内部控制的内容 第四条 公司的内部控制充分考虑到以下要素： （一）内部环境：内部环境是企业实施内部控制的基础，一般包括治理结 构、机构设置及权责分配、内部审计、人力资源政策、企业文化等； 2 ...

2025年1至6月份，凯莱英的营业收入构成为：医药行业占比99.9%，其他业务占比0.1%。 截至发稿，凯莱英市值为342亿元。 每经AI快讯，凯莱英（SZ 002821，收盘价：94.79元）12月19日晚间发布公告称，公司第五届第六次董 事会会议于2025年12月19日以通讯方式召开。会议审议了《关于修订 <凯莱英医药集团 天津="天津" 股 份有限公司董事及高级管理人员薪酬管理制度="股份有限公司董事及高级管理人员薪酬管理制度"> 的 议案》等文件。 每经头条（nbdtoutiao）——海南封关首日直击：为中国探路，全球最大自贸港如何重塑开放边界？ （记者 曾健辉） ...

凯莱英医药集团（天津）股份有限公司 一、董事会薪酬与考核委员会对调整 2025 年 A 股限制性股票激励计划相关 事项的核查意见 鉴于公司 2024 年年度权益分派已实施完成，根据《上市公司股权激励管理 办法》及公司《2025 年 A 股限制性股票激励计划》的相关规定，公司应对首次 授予部分回购价格进行调整。同意公司对 2025 年 A 股限制性股票激励计划首次 授予部分回购价格进行调整，回购价格由 37.52 元/股调整为 36.42 元/股。 二、董事会薪酬与考核委员会对回购注销 2025 年 A 股限制性股票激励计划 部分限制性股票的核查意见 鉴于 2025 年 A 股限制性股票激励计划首次授予激励对象 7 人及预留授予激 励对象 1 人已从公司离职，前述人员已获授但尚未解除限售的限制性股票 33,000 股应由公司回购注销。本次回购注销部分限制性股票事项符合《上市公司股权激 励管理办法》及公司《2025 年 A 股限制性股票激励计划》的相关规定。同意本 次回购注销 33,000 股限制性股票事项。 董事会薪酬与考核委员会关于公司2025年A股限制性股票激励计划 相关事项的核查意见 凯莱英医药集团（天津 ...

证券代码：002821 证券简称：凯莱英 公告编号：2025-066 凯莱英医药集团（天津）股份有限公司 第五届董事会第六次会议决议的公告 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、董事会会议召开情况 凯莱英医药集团（天津）股份有限公司（以下简称"公司"）第五届董事会 第六次会议通知于 2025 年 12 月 13 日以电子邮件及书面形式发送给各位董事及 高级管理人员，会议于 2025 年 12 月 19 日以通讯方式召开。公司应到董事 9 名， 实到董事 9 名。公司部分高级管理人员列席了本次会议。本次会议由公司董事长 HAO HONG 先生召集和主持，会议的召集和召开符合《公司法》及相关法律、 法规以及《公司章程》的有关规定。 二、董事会议案审议情况 会议采用通讯方式召开，经全体与会董事审议并表决，通过了如下决议： 1、审议通过了《关于调整2025年A股限制性股票激励计划相关事项的议案》 根据公司《2025 年 A 股限制性股票激励计划》相关规定："激励对象获授 的限制性股票完成股份登记后，若公司发生资本公积转增股本、派送股票红利、 股份拆细、配 ...

凯莱英公告，拟回购注销33000股限制性股票。公司2025年A股限制性股票激励计划首次授予激励对象7 人及预留授予激励对象1人已从公司离职，根据公司《2025年A股限制性股票激励计划》相关规定，激 励对象因辞职、公司裁员而离职，激励对象根据本计划已获授但尚未解除限售的限制性股票不得解除限 售，由公司以授予价格回购注销。 ...

Group 1 - Pharmaceutical stocks showed a significant rebound today, particularly in the CRO and innovative drug sectors [1][3] - Companies such as Kelaiying (06821) saw an increase of 6.07%, trading at 76.85 HKD [1][3] - WuXi Biologics (02269) rose by 6.05%, reaching 34.70 HKD [1][3] - Sangfor Pharmaceuticals (01530) increased by 4.65%, priced at 26.58 HKD [1][3] - Innovent Biologics (09969) experienced a rise of 4.70%, trading at 13.80 HKD [1][3]

Investment Rating - The report maintains an "Overweight" rating for the CXO industry, indicating a positive outlook for investment opportunities in this sector [7]. Core Insights - The CXO industry is entering a new high prosperity cycle driven by external factors such as overseas interest rate cuts, domestic recovery, and industrial upgrades. The worst period for the industry is considered to be over, with a significant improvement in sentiment and operational conditions [1][2][17]. - The report emphasizes the competitive advantages of Chinese CXO companies, including efficiency, cost, quality, and rapid expansion capabilities, which are expected to maintain their global standing in the short to medium term [1][3][22]. - The emergence of new molecular drugs, such as peptides and oligonucleotides, is driving growth in the CRDMO sector, with Chinese suppliers positioned to lead globally due to their production capabilities and cost advantages [3][22][28]. Summary by Sections New Cycle - The CXO industry has transitioned from a prolonged adjustment period (2H21-1H24) to a new upward cycle, supported by recovering overseas financing and a favorable domestic IPO environment. The demand for CXO services is expected to increase significantly starting in 2026 [2][17]. New Molecules - New molecular CRDMO services are characterized by higher demand and technical barriers. Chinese companies are leading in areas like TIDES and ADC, achieving higher growth rates and maintaining robust profit margins [3][22][28]. New Landscape - The domestic CXO market is undergoing a restructuring, with market share increasingly concentrated among leading firms. The report highlights that smaller companies may struggle to survive due to heightened quality and sustainability demands from pharmaceutical clients [4][22][28]. Key Recommendations - The report recommends investing in leading companies with strong positions in the new molecular space, such as WuXi AppTec, WuXi Biologics, and others, which are expected to benefit from the ongoing industry upgrades and demand recovery [1][9][22].

Core Insights - The report emphasizes the continuous improvement of the global competitiveness of Chinese innovative pharmaceutical companies, focusing on innovation from both "therapeutic areas" and "technology platforms" [5][6] - The growth of commercial health insurance premiums is expected to provide new payment sources for medical expenses, as the scale of commercial health insurance is projected to reach 977.4 billion yuan by 2024 [29][30] - The report identifies potential therapeutic areas such as metabolic diseases (e.g., weight loss), chronic diseases (e.g., hypertension, hyperlipidemia), and central nervous system diseases (e.g., Alzheimer's, Parkinson's) as key focus areas for innovation [5][38] - Emerging technology platforms like small nucleic acid drugs, radioactive drugs (RDC), and CAR-T therapies are highlighted as significant areas for investment [5][38] Market Review - As of November 15, 2025, the pharmaceutical sector has outperformed the market, with the pharmaceutical index rising by 22.09% compared to a 17.62% increase in the CSI 300 index, resulting in a 4.47 percentage point outperformance [11] - The chemical preparation sector showed the best performance, increasing by 40.52%, followed by medical services (+36.98%) and chemical raw materials (+25.34%) [20] - The overall PE valuation of the pharmaceutical sector is at 30.89 times, which is relatively low compared to historical averages, indicating potential for future growth [22][23] Innovative Drugs - The report notes that the growth of health expenditures in China, which reached 9.06 trillion yuan in 2023, is outpacing GDP growth, indicating a robust market for innovative drugs [26][27] - The analysis of multinational corporations (MNCs) reveals that innovation is a core competitive advantage, with companies like Eli Lilly and Novartis showing significant growth driven by innovative products in advanced technology fields such as GLP-1 and ADC [31][32] - The report highlights the strong sales performance of GLP-1 drugs, with Eli Lilly's Mounjaro generating $6.515 billion in revenue in Q3 2025, reflecting a 109% year-on-year increase [44] CXO and Upstream - The report indicates a slight increase in pharmaceutical financing, with a recovery in business development transactions and H-share IPOs, which is expected to stimulate innovation [5] - The demand for external CXO services is growing, particularly in emerging fields such as peptides and small nucleic acids, while internal CXO orders are also showing signs of recovery [5][39] Medical Devices - The domestic medical device market is currently under pressure due to policy impacts, but improvements are anticipated as companies continue to innovate and expand internationally [5] - The report suggests that the industry fundamentals are expected to improve, with a focus on companies like Mindray Medical and Microelectrophysiology [5][39]

Market Performance - The medical services sector increased by 0.51% on December 8, with Chengdu XianDao leading the gains [1] - The Shanghai Composite Index closed at 3924.08, up 0.54%, while the Shenzhen Component Index closed at 13329.99, up 1.39% [1] Top Gainers in Medical Services - Chengdu XianDao (688222) closed at 23.20, up 1.75% with a trading volume of 45,700 shares and a turnover of 106 million yuan [1] - Other notable gainers include: - Guangzheng Eye Hospital (002524) at 4.63, up 1.54% [1] - MediXis (688202) at 53.96, up 1.35% [1] - WuXi AppTec (603259) at 91.55, up 1.27% with a significant turnover of 3.33 billion yuan [1] Top Losers in Medical Services - ST Zhongzhu (600568) closed at 2.79, down 2.11% with a trading volume of 614,600 shares and a turnover of 173 million yuan [2] - Other notable losers include: - Haoyuan Pharmaceutical (688131) at 74.35, down 1.50% [2] - Aoyang Health (002172) at 4.20, down 1.41% [2] Capital Flow Analysis - The medical services sector experienced a net outflow of 297 million yuan from institutional investors, while retail investors saw a net inflow of 317 million yuan [2][3] - Notable capital flows include: - WuXi AppTec (603259) with a net outflow of 30.81 million yuan from institutional investors [3] - NuoSiGe (301333) with a net inflow of 11.54 million yuan from institutional investors [3]

Core Insights - AsymBio has officially commenced commercial production at its Shanghai Fengxian Commercial Manufacturing Base, enhancing its integrated biologics CDMO services and commitment to innovative therapies [1][4] Facility Overview - The Fengxian facility spans 130,000 square meters and serves as a strategic hub within AsymBio's global network, providing flexible and scalable support across all clinical phases [2] - The facility is designed to offer tailored CDMO solutions from early development through to commercial production [2] Advanced Manufacturing Capabilities - The Fengxian base is equipped to manufacture a wide range of next-generation biotherapeutics, including ADCs, dual-payload ADCs, RDCs, APCs, PDCs, AOCs, monoclonal, bispecific, and multispecific antibodies, as well as recombinant proteins [3] Leadership and Strategic Goals - CEO Rui Yang emphasized that the launch of the Fengxian Base is a strategic milestone for global expansion, enhancing production capacity and service capabilities while strengthening supply chain resilience [4] Quality and Sustainability Commitment - The Fengxian facility operates under a quality management system that meets global regulatory standards and employs advanced biomanufacturing technology for cost reduction and flexibility [4] - The site adheres to Asymchem's ESG strategy and EHS management principles [4] Business Focus - AsymBio specializes in biopharmaceutical CDMO services, leveraging advanced technology platforms and extensive project experience to provide one-stop solutions for global clients [5]