Investment Rating - The industry investment rating is "Overweight" [1] Core Insights - The prospects for biomanufacturing are broad, contributing to industrial upgrades. Biomanufacturing, centered on industrial biotechnology, utilizes enzymes and microbial cells in the processing of target products, including bio-based materials, chemicals, and bioenergy. Synthetic biology plays a crucial role as a platform technology in biomanufacturing. The global synthetic biology market is expected to maintain rapid growth, reaching nearly $50 billion by 2028 [3][4][22]. - Technological breakthroughs combined with policy support are driving the synthetic biology industry forward. Factors such as reduced costs of gene synthesis and sequencing, along with advancements in efficient gene editing technologies, provide a solid technical foundation for the rapid development of synthetic biology. Governments worldwide are increasingly prioritizing the development of synthetic biology, with various supportive policies being introduced [4][28]. - Synthetic biology is reshaping industrial models, offering more efficient and environmentally friendly synthesis solutions. It addresses issues associated with traditional chemical synthesis and natural extraction methods, such as high costs, limited yields, and environmental pollution. With breakthroughs in gene editing, enzyme engineering, and metabolic engineering, synthetic biology not only reduces drug production costs but also enhances capacity, enabling large-scale industrial production [4][5]. Summary by Sections Industry Overview - Biomanufacturing is defined as the processing of target products using industrial biotechnology, involving enzymes and microbial cells. Synthetic biology is a key platform technology in this field, enabling the design and construction of biological systems for various applications [13][14]. Policy Support and Technological Breakthroughs - The development of synthetic biology is supported by various policies and technological advancements. Governments are investing in funding, technology, and talent development to foster innovation and industrialization in this field [28][29]. - Major countries are establishing synthetic biology research centers and networks, with the UK and the US leading in policy initiatives to promote synthetic biology [29][30]. Synthetic Biology's Impact on Industrial Models - Synthetic biology is transforming production methods, achieving tasks that traditional biotechnologies cannot, while providing more efficient and eco-friendly synthesis options. This shift is crucial for addressing environmental challenges and enhancing production efficiency [4][5]. Investment Recommendations - Companies to watch include Chuan Ning Biological, Kingfisher Biotech, Kylin Biotech, and Huaxi Biological, which are positioned to benefit from the growth in synthetic biology [5].

Investment Rating - The industry investment rating is "Overweight" [1] Core Insights - The bio-manufacturing sector has vast potential and is poised to drive a new wave of industrial revolution, leveraging industrial biotechnology to produce bio-based materials, chemicals, and bioenergy [3][4] - The global synthetic biology market is expected to maintain rapid growth, projected to approach $50 billion by 2028, with a compound annual growth rate (CAGR) of approximately 24% from 2023 to 2028 [22][24] - Technological breakthroughs and policy support are driving the synthetic biology industry forward, with significant advancements in gene synthesis, sequencing, and editing technologies [4][37] Summary by Sections Industry Overview - Bio-manufacturing utilizes industrial biotechnology, enzymes, and microbial cells, playing a crucial role in producing bio-based materials and chemicals [13] - Synthetic biology is a design-driven science that re-engineers biological systems for useful purposes, with applications across various sectors including healthcare, agriculture, and chemicals [13][22] Policy Support and Technological Breakthroughs - Governments worldwide are increasingly prioritizing synthetic biology, with strategic plans and funding initiatives to support its development [28][29] - The reduction in costs for gene synthesis and sequencing technologies has laid a solid foundation for the rapid advancement of synthetic biology [37] Synthetic Biology Reshaping Industry Models - Synthetic biology is transforming production models, offering more efficient and environmentally friendly synthesis solutions compared to traditional methods [4][22] - The industry is expected to significantly reduce carbon emissions, with estimates suggesting a reduction of 1 to 2.5 billion tons of CO2 annually by 2030 through industrial biotechnology [4] Related Companies - Companies to watch include Chuan Ning Bio, Kingfisher Biotech, and Kailai Ying, which are positioned to benefit from advancements in synthetic biology [5] Investment Recommendations - The report suggests focusing on companies like Chuan Ning Bio, Kingfisher Biotech, and others that are leveraging synthetic biology for growth [5]

证券代码：002821 证券简称：凯莱英 公告编号：2025-009 公司自律监管指引第 10 号—股份变动管理》等有关规定，现将增持计划情况公 告如下： 一、本次增持计划基本情况 凯莱英医药集团（天津）股份有限公司 关于部分董事、高级管理人员和核心技术及业务人员 增持公司 A 股股份实施完成的公告 公司董事、高级管理人员和增持股份的核心技术及业务人员保证 公告内容真实、准确和完整，不存在虚假记载、误导性陈述或重大遗 漏。 本公司及全体董事会成员保证公告内容真实、准确和完整，不存 在虚假记载、误导性陈述或重大遗漏。 特别提示： 1、 凯莱英医药集团（天津）股份有限公司（以下简称"公司"）部分董事、 高级管理人员和其他核心技术及业务人员拟自 2024 年 9 月 12 日起 6 个月内增 持公司 A 股股份，增持金额不低于人民币 2,000 万元（含）。具体内容详见公司 于 2024 年 9 月 12 日、2024 年 12 月 12 日在指定信息披露媒体发布的《关于部 分董事、高级管理人员和核心技术及业务人员增持公司 A 股股份计划的公告》 （公告编号：2024-083）和《关于部分董事、高级管理人员和核心技 ...

截至本公告披露日，肖毅先生直接持有公司股票274,420股，占公司总股本 0.0761%，通过公司《2022年员工持股计划》间接持有20,000股，占公司总股本 的0.0055%。肖毅先生承诺，其直接持有的公司股份将严格遵守《上市公司股东 减持股份管理暂行办法》及《深圳证券交易所上市公司自律监管指引第18号—股 东及董事、监事、高级管理人员减持股份》等相关规定；通过公司《2022年员工 持股计划》间接持有的公司股份，也将遵守公司《2022年员工持股计划》及《2022 年员工持股计划管理办法》等有关规定进行相应处理。 肖毅先生在公司任职期间勤勉尽责、恪尽职守，搭建及整合了公司工艺科学 中心（CEPS）先进技术平台，积极推动高通量筛选平台建设和应用，推进光化学、 电化学等先进技术应用，助力公司CDMO业务开展的同时，进一步夯实了公司的技 术储备。在此，公司及董事会对肖毅先生为公司发展所作的贡献表示衷心的感谢！ 特此公告。 凯莱英医药集团（天津）股份有限公司董事会 证券代码：002821 证券简称：凯莱英 公告编号：2025-008 凯莱英医药集团（天津）股份有限公司 关于高级管理人员退休离任的公告 本公司及董事会 ...

呈交日期: 2025年3月3日 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年2月28日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 凱萊英醫藥集團（天津）股份有限公司 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06821 | 說明 | H股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 27,553,260 | RMB | | | 1 RMB | | 27,553,260 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 27,553,260 | RMB | | | 1 RMB | | 27,553,260 | | 2. 股份分類 ...

证券代码：002821 证券简称：凯莱英 公告编号：2025-007 凯莱英医药集团（天津）股份有限公司 关于回购股份注销完成暨股份变动的公告 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。 重要提示： 1、凯莱英医药集团（天津）股份有限公司（以下简称"公司"或"凯莱英"） 本次注销存放于回购专用证券账户中的部分股份 7,122,703 股，注销金额约 5.79 亿元，占注销前 A 股股本（340,164,843 股）的 2.09%，占注销前总股本的 1.94%。 本次回购股份注销完成后，公司 A 股股本由 340,164,843 股变更为 333,042,140 股，总股本 367,718,103 股由变更为 360,595,400 股。 2、经中国证券登记结算有限责任公司深圳分公司审核确认，公司本次回购 股份注销事宜于 2025 年 2 月 26 日办理完成。 一、公司股票回购及使用情况 公司于 2024 年 2 月 29 日召开 2024 年第二次临时股东大会、2024 年第二次 A 股类别股东大会及 2024 年第二次 H 股类别股东大会，审议通过了《 ...

Core Viewpoint - The company has approved a share repurchase plan, aiming to enhance shareholder value and investor confidence while maintaining operational stability and compliance with regulations [1][6]. Group 1: Share Repurchase Plan - The company will repurchase A-shares through centralized bidding in the secondary market, with a total fund amount not less than RMB 600 million and not exceeding RMB 1.2 billion, at a maximum price of RMB 157 per share [1]. - The repurchase price cap was adjusted to RMB 155.27 per share effective from June 28, 2024, due to dividend distributions and other corporate actions [2]. - As of the announcement date, the company has completed the repurchase of 12,300,701 shares, accounting for 3.6161% of the total A-share capital, with a total expenditure of approximately RMB 999.64 million [4]. Group 2: Implementation Details - The repurchase was conducted from March 7, 2024, to February 18, 2025, with the highest transaction price at RMB 102.00 and the lowest at RMB 71.65 per share [4]. - The company has adhered to the relevant regulations during the repurchase process, ensuring compliance with the Shenzhen Stock Exchange's guidelines [9][10]. Group 3: Impact and Future Plans - The share repurchase is expected to establish a long-term incentive mechanism, protect shareholder rights, and enhance investor confidence without significantly impacting the company's operations or financial health [6]. - The repurchased shares will be stored in a dedicated account and will not have voting rights or profit distribution rights during the holding period, with plans for future use in equity incentives or capital reduction [11].

证券代码：002821 证券简称：凯莱英 公告编号：2025-006 凯莱英医药集团（天津）股份有限公司 关于股份回购完成暨股份变动的公告 本公司及全体董事会成员保证公告内容真实、准确和完整，不存 在虚假记载、误导性陈述或重大遗漏。 凯莱英医药集团（天津）股份有限公司（以下简称"公司"）于 2024 年 2 月 29 日召开 2024 年第二次临时股东大会、2024 年第二次 A 股类别股东大会及 2024年第二次H股类别股东大会，审议通过了《关于回购公司股份方案的议案》。 根据股份回购方案，公司将采用集中竞价交易的方式从二级市场回购公司 A 股 股份，本次回购股份的资金总额将不低于人民币 60,000 万元（含），且不超过人 民币 120,000 万元（含）；回购价格不超过 157 元/股。具体内容详见刊登在《证 券时报》、《中国证券报》和巨潮资讯网（http://www.cninfo.com.cn）上的相关公告。 2024 年 6 月 6 日公司召开 2023 年度股东大会，审议通过了 2023 年年度权 益分派方案；本次权益分派股权登记日为 2024 年 6 月 27 日，除权除息日为 2024 年 6 ...

Investment Rating - The investment rating for the company is "Buy" [8]. Core Insights - The company is a leading player in the CDMO sector, providing comprehensive services for small molecule drugs and actively expanding into emerging business areas [1][19]. - The global biopharmaceutical industry is experiencing an upward demand trend, with a gradual improvement in the supply-demand structure for CDMO services [2][36]. - The small molecule business is stabilizing and entering a phase of commercial project harvest, while emerging businesses are also showing strong demand [3][4]. Summary by Sections 1. Company Overview - The company has established itself as a top-tier CDMO service provider, serving over 1,100 clients globally and forming strong collaborative ties with major pharmaceutical companies [1][19]. - It has a well-rounded service offering that includes small molecule drug lifecycle outsourcing, with a focus on high-grade and large-scale products [20]. 2. Industry Dynamics - The biopharmaceutical industry is on an upward trajectory, with a balanced supply-demand structure expected to develop by 2025 [2][36]. - Small molecules continue to dominate the market, accounting for approximately 54.86% of the industry in 2023, while new therapies like peptides and oligonucleotides are gaining traction [2][51]. 3. Business Performance - The small molecule business is expected to see stable growth, with 28 projects anticipated to reach the PPQ stage in 2024 [3]. - Emerging business segments, including peptides and oligonucleotides, are experiencing robust demand, with significant growth expected starting in 2025 [4]. 4. Financial Projections - Revenue projections for 2024-2026 are estimated at 5.886 billion, 6.761 billion, and 7.807 billion yuan, respectively, with corresponding net profits of 917 million, 1.163 billion, and 1.281 billion yuan [8][10]. - The company anticipates a recovery in revenue growth post-2024, driven by a rebound in demand and successful project commercialization [3][4].

以下文章来源于阿基米德Biotech ，作者阿基米德君 阿基米德Biotech . 生物医药第三方独立观察，客观中立，深入浅出，松弛愉悦，写作纯为兴趣，不接广告 一个伟大的开端。 作者 | 阿基米德君 来源 | 阿基米德Biotech （ID：ArchimedesBiotech） 这个冬天太长了。在遥远的2021年夏天，所有人都不会想到医药下行周期会超过3年半，以致于最有耐心的坚守者也濒临崩溃。 参考率先见底的CDMO，当所有负面因素都充分入价后，任何细微的边际改善都将带来巨大弹性。从底部挣扎起来，药明康德反弹约 60% 药明生物反弹约110%，药明合联一度逼近历史新高。 不要指望惊天大逆转，但细微的边际改善是可期待的，这已经足矣。 2024Q4，全部公募基金对医药板块的持仓比例为8.58%，环比下降1.08pct，已超过2022Q3全部基金持仓的低点位（9.37%）， 下降至历史最低位置，意味着任何细微的增量资金都将带来弹性。 寒冰融化。在支付端，单一支付体系即将破局，多元化支付体系将在年内初步建立，而且在用药群众对药效日益关切的推动下，集 采、医保谈判有望转向控费与质控的平衡；在融资端，未盈利生物科技企业 ...