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 武汉明德生物科技股份有限公司（以下简称"公司"）第四届董事会第二十 次会议于 2025 年 4 月 29 日以现场及通讯相结合的方式在公司会议室召开，会议 通知已于 2025 年 4 月 25 日以电子邮件、电话通讯等形式发出。本次会议应到董 事 7 名，实际出席公司会议的董事 7 名，会议由公司董事长陈莉莉女士主持，公 司监事、高级管理人员列席了本次会议，会议的召集和召开符合《中华人民共和 国公司法》（以下简称"公司法"）等法律法规及公司章程的规定。 证券代码：002932 证券简称：明德生物 公告编号：2025-028 武汉明德生物科技股份有限公司 第四届董事会第二十次会议决议公告 二、董事会会议审议情况 1、审议并通过《2025 年第一季度报告》 表决结果：同意票数为 7 票，反对票数为 0 票，弃权票数为 0 票。 本议案已经公司审计委员会全体审议通过。 《2025 年第一季度报告》具体内容 2025 年 4 月 30 日刊登在《证券时报》 和巨潮资讯网（http://www.cn ...

Revenue and Profitability - The company's revenue for Q1 2025 was ¥69,960,271.60, representing a 14.76% increase compared to ¥60,963,422.30 in the same period last year[3] - The net profit attributable to shareholders was -¥3,662,988.06, a decline of 111.43% from ¥32,052,081.48 in the previous year[3] - Basic and diluted earnings per share were both -¥0.02, down 114.29% from ¥0.14 in the previous year[3] - Net profit for the current period was a loss of ¥3,405,173.99, compared to a profit of ¥28,108,162.20 in the previous period, indicating a significant decline[19] Cash Flow and Operating Activities - The net cash flow from operating activities was -¥30,524,488.33, a decrease of 166.81% compared to ¥45,688,082.68 in the same period last year[3] - Cash inflow from operating activities totaled ¥154,356,495.64, a decrease from ¥294,315,194.08 in the previous period[20] - Cash received from sales of goods and services was ¥146,015,819.62, down 36.40% from ¥229,599,558.61 in the previous year, indicating a slowdown in cash collection[8] - The total cash and cash equivalents at the end of the period decreased to $236.99 million from $884.23 million, reflecting a substantial reduction[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥6,499,402,061.63, a decrease of 1.42% from ¥6,593,078,595.90 at the end of the previous year[3] - Current assets total 4,306,916,741.27 RMB, an increase from 2,397,670,406.85 RMB at the beginning of the period[14] - Total liabilities include short-term borrowings of 3,000,000.00 RMB and accounts payable of 248,241,215.03 RMB[14] - The total liabilities decreased from ¥574,401,155.88 to ¥499,733,047.11, reflecting a reduction in financial obligations[15] Operating Costs and Expenses - The company's operating costs increased by 60.69% to ¥58,506,453.08, primarily due to revenue growth and a decline in gross margin[8] - Total operating costs increased to ¥114,191,703.22, up 9.6% from ¥104,189,807.01 in the previous period, with operating costs specifically rising from ¥36,409,334.65 to ¥58,506,453.08[17][18] - Research and development expenses were reported at ¥24,550,271.02, down from ¥27,181,929.06 in the previous period, indicating a reduction in investment in innovation[18] Shareholder Information - The total number of common shareholders at the end of the reporting period is 25,981[10] - The top shareholder, Chen Lili, holds 27.06% of shares, totaling 62,918,895 shares[10] - The company has repurchased 13,034,741 shares, representing 5.61% of the total share capital[11] Credit and Impairment - The company reported a significant increase in credit impairment losses, amounting to ¥14,258,490.11, a rise of 307.19% compared to -¥6,881,817.36 in the previous year[8] - The company experienced a credit impairment loss of ¥14,258,490.11, compared to a gain of -¥6,881,817.36 in the previous period, highlighting increased credit risk[18] Government Subsidies - The company received government subsidies amounting to ¥23,500.00, which were significantly lower compared to previous periods[5] Audit Status - The first quarter report was not audited, which may affect the reliability of the financial data presented[23]

Company Overview - Mingde Biological Technology Co., Ltd. focuses on the research, production, sales, and service of in vitro diagnostic reagents and instruments, covering three main areas: in vitro diagnostic reagents and instruments, critical care information solutions, and third-party medical testing services [1] - The company achieved a revenue of 350 million yuan in 2024, representing a year-on-year decrease of 53.30%, with a net profit of 74.52 million yuan, down 0.54% year-on-year, and a gross profit margin of 53.89% [1] Market Performance - As of April 28, Mingde Biological's stock closed at 17.52 yuan, down 3.15%, with a rolling price-to-earnings (PE) ratio of 54.67 times and a total market capitalization of 4.074 billion yuan [1] - The average PE ratio for the medical device industry is 46.40 times, with a median of 34.81 times, placing Mingde Biological at the 93rd position in the industry ranking [1][2] Capital Flow - On April 28, the net outflow of main funds for Mingde Biological was 688,300 yuan, although the overall trend over the past five days showed a net inflow of 14.56 million yuan [1]

Core Viewpoint - Mingde Biological's 2024 annual report indicates a significant decline in revenue and profitability, highlighting challenges in maintaining operational efficiency and profitability in its core business [2][9]. Business Overview - The total operating revenue for Mingde Biological in 2024 was 350 million yuan, a year-on-year decrease of 53.3%. The net profit attributable to shareholders was 74.52 million yuan, down 0.54% year-on-year. The non-recurring net profit was -140 million yuan, a decline of 12.74% year-on-year, indicating weakened profitability in core operations [2]. Quarterly Performance - In the fourth quarter, the operating revenue was 124 million yuan, a slight increase of 0.68% year-on-year. However, the net profit attributable to shareholders was -6.42 million yuan, an increase of 90.88% year-on-year, while the non-recurring net profit was -101 million yuan, up 40.45% year-on-year. Despite slight revenue growth in Q4, the overall annual performance remained poor [3]. Expenses and Profitability Ratios - In 2024, the combined expenses (selling, administrative, and financial) accounted for 45.72% of total revenue, an increase of 46.59% year-on-year. The gross profit margin was 53.89%, down 0.71% year-on-year, and the net profit margin was 7.59%, a decrease of 17.82% year-on-year. The significant rise in expense ratio and decline in profitability ratios reflect challenges in cost control and profit enhancement [4]. Main Revenue Composition - The main revenue sources for the company include in vitro diagnostic products and solutions (220 million yuan, 62.89%), third-party medical testing (65.75 million yuan, 18.78%), and agency business (64.17 million yuan, 18.33%). Among these, third-party medical testing has the highest gross profit margin at 88.05%, while the agency business has the lowest at 26.38% [5]. Key Financial Indicators - Cash and cash equivalents stood at 494 million yuan, down 51.37% year-on-year. Accounts receivable totaled 764 million yuan, a decrease of 36.79% year-on-year. Interest-bearing debt was 7.30 million yuan, down 76.39% year-on-year. The net asset value per share was 25.06 yuan, down 3.31% year-on-year, and the operating cash flow per share was -0.37 yuan, a decline of 121.67% year-on-year. Earnings per share were 0.33 yuan [10]. Development Review and Future Outlook - Mingde Biological focuses on the R&D, production, and sales of in vitro diagnostic reagents and instruments, as well as providing information solutions for critical care and third-party medical testing services. The company plans to optimize its existing product line and launch more innovative products in the next three years, particularly in pathogen diagnosis, cardiovascular disease diagnosis, and infectious disease diagnosis. Additionally, the company aims to enhance its medical information technology and third-party medical testing services to improve comprehensive service capabilities [7].

Core Viewpoint - Mingde Biological reported a significant decline in revenue and net profit for 2024, raising concerns about its financial stability and potential delisting risk due to underperformance [1][2]. Financial Performance - In 2024, Mingde Biological achieved operating revenue of 350 million yuan, a year-on-year decrease of 53.3%, and a net profit attributable to shareholders of 74.52 million yuan, down 0.54% year-on-year [2]. - The company recorded a net loss of 140 million yuan after deducting non-recurring items, marking the second consecutive year of losses [2][3]. - As of the end of 2024, the company had distributable profits exceeding its total market value, calculated at 4.24 billion yuan based on the closing price on April 24 [1][5]. Dividend Policy - Despite the financial downturn, Mingde Biological announced a high dividend plan, proposing a cash dividend of 12 yuan per 10 shares (including tax), amounting to 263 million yuan, resulting in a dividend yield of nearly 7% based on the closing price on April 24 [1][5]. - The company has a history of high dividends, having distributed 20 yuan, 30 yuan, and 37 yuan per 10 shares in the years 2020 to 2022, respectively [4][5]. Challenges and Future Outlook - The decline in revenue and net profit is attributed to four main factors: decreased procurement prices, difficulties in customer payments, impairment of inventory and fixed assets, and high depreciation costs due to expanded production capacity [2][3]. - As of the end of 2024, the company had accounts receivable of 764 million yuan and inventory and fixed assets totaling over 1.4 billion yuan, indicating potential liquidity issues [3]. - To ensure revenue exceeds 300 million yuan in 2025, the company plans to develop new products, expand into overseas markets, and explore new business areas while focusing on innovative products that do not participate in centralized procurement [3].

关于武汉明德生物科技股份有限公司 2024 年度营业收入扣除情况表 的鉴证报告 信会师报字[2025]第 ZE10223 号 关于武汉明德生物科技股份有限公司 2024 年度 营业收入扣除情况表的鉴证报告 信会师报字[2025]第ZE10223号 武汉明德生物科技股份有限公司全体股东： 我们审计了武汉明德生物科技股份有限公司(以下简称"明德生 物")2024 年度的财务报表，包括 2024 年 12 月 31 日的合并及母公司 资产负债表、2024 年度合并及母公司利润表、合并及母公司现金流 量表、合并及母公司所有者权益变动表和相关财务报表附注，并于 2025 年 4 月 24 日出具了报告号为信会师报字[2025]第 ZE10219 号的 无保留意见审计报告。 在对上述财务报表执行审计的基础上，我们接受委托，对后附的 明德生物2024年度营业收入扣除情况表（以下简称"营业收入扣除情 况表"）执行了合理保证的鉴证业务。 一、管理层的责任 明德生物管理层的责任是按照《深圳证券交易所股票上市规则》 和《深圳证券交易所上市公司自律监管指南第1号——业务办理》的 相关规定编制营业收入扣除情况表，确保营业收入扣除情况表 ...

国金证券股份有限公司 关于武汉明德生物科技股份有限公司 使用部分闲置募集资金进行现金管理的核查意见 国金证券股份有限公司（以下简称"国金证券"或"保荐机构"）作为武汉明德 生物科技股份有限公司（以下简称"明德生物"或"公司"） 非公开发行 A 股股票 的保荐机构和持续督导机构，根据《证券发行上市保荐业务管理办法》、《深圳证 券交易所上市公司自律监管指引第 13 号——保荐业务》、《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》、《上市公司监管指引第 2 号——上市公司募集资金管理和使用的监管要求》等有关法律法规的要求，就明 德生物使用部分闲置募集资金进行现金管理事项进行了审慎核查，核查情况如下： 一、募集资金的基本情况 2、现金管理额度 公司拟使用不超过 23,000.00 万元（含）的闲置募集资金进行现金管理，期限 内任一时点的交易金额（含前述投资的收益进行再投资的相关金额）不超过该额 度，在上述额度内，资金可以滚动使用。 经中国证券监督管理委员会《关于核准武汉明德生物科技股份有限公司非公 开发行股票的批复》（证监许可〔2021〕1859 号）核准，公司非公开发行人民币 普通股（A ...

1、公司首次公开发行募集资金的到位情况 经中国证券监督管理委员会《关于核准武汉明德生物科技股份有限公司首次 公开发行股票的批复》（证监许可[2018]906 号）核准，公司首次公开发行人民币 普通股（A 股）股票 16,646,287 股，每股面值人民币 1 元，每股发行价格为人民 币 20.45 元，募集资金总额为人民币 340,416,569.15 元，扣除发行费用人民币 27,770,357.84 元（不含税）后，募集资金净额为人民币 312,646,211.31 元。中勤 万信会计师事务所（特殊普通合伙）于 2018 年 7 月 5 日出具了"勤信验字[2018] 第 0046 号"《验资报告》，对以上募集资金到账情况进行了审验确认。 国金证券股份有限公司 关于武汉明德生物科技股份有限公司 2024年度募集资金存放与使用情况的核查意见 国金证券股份有限公司（以下简称"国金证券"或"保荐机构"）作为武汉明德 生物科技股份有限公司（以下简称"明德生物"或"公司"）非公开发行 A 股股票的 保荐机构和持续督导机构，根据《证券发行上市保荐业务管理办法》、《深圳证券 交易所上市公司自律监管指引第 13 号——保 ...

武汉明德生物科技股份有限公司 内部控制审计报告 信会师报字[2025]第 ZE10222 号 内部控制审计报告 信会师报字[2025]第 ZE10222 号 我们认为，明德生物于 2024 年 12 月 31 日按照《企业内部控制 内控审计报告 第 1 页 武汉明德生物科技股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相 关要求，我们审计了武汉明德生物科技股份有限公司（以下简称明德 生物）2024 年 12 月 31 日的财务报告内部控制的有效性。 一、 企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企 业内部控制评价指引》的规定，建立健全和有效实施内部控制，并评 价其有效性是明德生物董事会的责任。 二、 注册会计师的责任 我们的责任是在实施审计工作的基础上，对财务报告内部控制的 有效性发表审计意见，并对注意到的非财务报告内部控制的重大缺陷 进行披露。 三、 内部控制的固有局限性 内部控制具有固有局限性，存在不能防止和发现错报的可能性。 此外，由于情况的变化可能导致内部控制变得不恰当，或对控制政策 和程序遵循的程度降低，根据内部控制审计结果推测 ...