证券代码：300119 证券简称：瑞普生物 公告编号：2024-057 天津瑞普生物技术股份有限公司 第五届董事会第十九次（临时）会议决议公告 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 天津瑞普生物技术股份有限公司（以下简称"公司"）第五届董事会第十九次 （临时）会议于 2024 年 11 月 7 日在公司会议室以现场结合通讯表决方式召开。 会议通知于 2024 年 11 月 5 日以书面及网络方式送达全体董事。公司应出席董事 9 人，实际出席董事 9 人（其中董事杨鶄，独立董事郭春林、才学鹏、周睿以通 讯方式参会），参与表决董事 9 人。本次会议由董事长李守军先生主持，公司高 级管理人员列席了会议。本次会议的召集、召开和表决程序符合《公司法》《证 券法》等法律法规和《公司章程》的规定。 具体内容详见公司在深圳证券交易所网站（http://www.szse.cn）及巨潮资讯 网（http://www.cninfo.com.cn）披露的《关于收购中瑞华普科技有限公司部分股 权暨关联交易的公告》。 表决结果：同意 7 票，反对 0 票 ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 21.50 CNY over the next six months [1][3][11]. Core Insights - The company reported a stable revenue growth of 10.06% year-on-year for the first three quarters of 2024, achieving a revenue of 1.747 billion CNY. However, the net profit attributable to the parent company decreased by 10.58% year-on-year to 245 million CNY, indicating challenges such as increased market competition and rising costs [1][2]. - The company is actively exploring new markets, particularly in the pet healthcare sector, which has shown significant growth potential. The launch of the cat trivalent vaccine has been successful, with sales exceeding one million doses [2][3]. Summary by Sections Financial Performance - For Q3 2024, the company achieved a revenue of 648 million CNY, a year-on-year increase of 9.22%, while the net profit attributable to the parent company was 86 million CNY, down 10.3% year-on-year [1]. - The company’s revenue for 2024 is projected to reach approximately 2.249 billion CNY, with a growth rate of 10.70% expected in 2025 [4][8]. Research and Development - The company has increased its R&D investment, with R&D expenses reaching 51.68 million CNY in Q3 2024, representing a rate of 7.98% of revenue. This investment supports the development of new products, including vaccines and enzyme preparations [2][3]. Market Position and Strategy - The company has established a strong market presence in the animal healthcare industry and is expanding its pet product offerings. The integration of various sales channels, including partnerships with pet hospitals, is expected to enhance sales growth [2][3]. - The pet healthcare segment is identified as a blue ocean market with significant growth potential, supported by the successful launch of new products and an expanding distribution network [2][3]. Earnings Forecast - The projected earnings per share (EPS) for 2024, 2025, and 2026 are 0.70 CNY, 0.86 CNY, and 1.05 CNY, respectively, with corresponding dynamic price-to-earnings (PE) ratios of 24, 20, and 16 [3][4][11].

证券代码：300119 证券简称：瑞普生物 公告编号：2024-055 关于回购股份事项前十名股东及前十名无限售条件股东 天津瑞普生物技术股份有限公司 持股情况的公告 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。 天津瑞普生物技术股份有限公司（以下简称"公司"）于 2024 年 11 月 1 日召 开第五届董事会第十八次（临时）会议，审议通过了《关于回购公司股份方案的 议案》。公司拟使用商业银行股票回购专项贷款及自有资金以集中竞价交易方式 回购公司发行的无限售条件的 A 股流通股，用于后续实施股权激励或员工持股 计划，具体内容详见公司于 2024 年 11 月 4 日在深圳证券交易所网站 （http://www.szse.cn）及巨潮资讯网（http://www.cninfo.com.cn）披露的《关于回 购公司股份方案暨与金融机构签订股票回购借款合同的公告》（公告编号：2024- 054）。 根据《上市公司股份回购规则》《深圳证券交易所上市公司自律监管指引第 9 号——回购股份》等相关规定，现将董事会公告回购股份决议的前一个交易日 （即 2024 年 11 ...

证券代码：300119 证券简称：瑞普生物 公告编号：2024-056 1、天津瑞普生物技术股份有限公司（以下简称"公司"）拟使用商业银行股 票回购专项贷款及自有资金以集中竞价交易方式回购公司无限售条件的A股流 通股（以下简称"本次回购"），用于股权激励或员工持股计划。本次回购资金总 额不低于人民币10,000.00万元、不超过人民币16,000.00万元，回购股份的价格不 超过人民币19.50元/股。按照本次回购金额上限不超过人民币16,000.00万元，回 购价格上限不超过人民币19.50元/股进行测算，回购数量约为820.51万股，回购股 份比例约占公司总股本的1.76%。按照本次回购金额下限不低于人民币10,000.00 万元，回购价格上限不超过人民币19.50元/股进行测算，回购数量约为512.82万 股，回购股份比例约占公司总股本的1.10%，具体回购股份的数量以回购结束时 实际回购的股份数量为准。本次回购股份的实施期限为自公司董事会审议通过本 回购股份方案之日起不超过6个月。 2、本次回购股份方案已经公司于2024年11月1日召开的第五届董事会第十八 次（临时）会议审议通过。具体内容详见公司在深 ...

Company Overview - The company, Ruipu Biology, is the first A-share listed company in China focusing on the veterinary medicine field [1] - It adheres to the corporate values of "customer-centric,奋斗者为本,敢为人先,使命必达" [1] - The company focuses on cutting-edge developments in biopharmaceuticals such as genetic engineering vaccines, suspension culture processes, new crystal drugs, and AI drug research [1] - It provides comprehensive disease prevention and health solutions for economic and companion animals throughout their life cycles [1] Business Operations - Ruipu Biology has over 20 subsidiary companies spread across 8 provinces and cities including Tianjin, Hubei, and Hunan [1] - The company operates 11 production bases that have passed the new version of veterinary drug GMP acceptance and 1 large-scale feed additive production base [1] - It offers more than 500 animal products for livestock, poultry, and pets [1] - The company is an integrated animal health product manufacturer and service provider, covering biological products, drug raw materials, drug preparations, and feed additives [1] Industry Recognition - Ruipu Biology was recognized in the "China Listed Companies New Quality Productivity 50强" list, reflecting its strong development momentum and market recognition of its new quality productivity [1] - New quality productivity represents new technologies, value creation, adaptation to new industries, and reshaping of new momentum [1] Future Outlook - The company aims to place technological innovation at the core of its development, continuously deepen technological innovation and product iteration, and accelerate its growth [2] - Ruipu Biology aspires to become a leading enterprise in the global animal health industry, contributing to the prosperity of China's animal husbandry, animal health, and human well-being [2]

Core Insights - The "High-Yield Calcidiol Cell Factory Synthesis" application scenario has broken through traditional production bottlenecks, offering advantages such as shorter production cycles, lower costs, reduced energy consumption, and no pollution (no heavy metal catalysts required) compared to traditional chemical synthesis and biological fermentation methods [1] - This green bio-manufacturing method integrates industrial and innovative resources from Ruipu Biology and the Tianjin Institute of Industrial Biotechnology, Chinese Academy of Sciences, forming a service platform capable of providing process amplification and rapid product development for calcidiol and other raw material production companies [1] - The project is expected to set a benchmark in Tianjin and nationwide, driving the transformation of bio-manufacturing processes and green manufacturing upgrades in the Binhai New Area and across the country, significantly promoting the development of a bio-manufacturing industrial cluster in the Binhai New Area [1] Industry Impact - The application of this scenario will lead to a shift in the bio-manufacturing industry towards more sustainable and efficient production methods, reducing reliance on high-cost, high-energy, and high-pollution practices [1] - The collaboration between Ruipu Biology and the Tianjin Institute of Industrial Biotechnology highlights the importance of integrating industrial and academic resources to drive innovation in the bio-manufacturing sector [1] Regional Development - The project is poised to have a significant impact on the Binhai New Area, fostering the growth of a bio-manufacturing industrial cluster and setting a model for other regions to follow [1] - The widespread adoption of this technology could lead to a nationwide transformation in bio-manufacturing practices, enhancing the competitiveness of the industry in China [1]

瑞普生物（ [Table_StockNameRptType] 300119） 公司点评 畜禽板块发展稳健，Q3 毛利率环比改善 | --- | --- | --- | |-------------------------------------------------------------------------------------------------------------------|------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

证券代码：300119 证券简称：瑞普生物 公告编号：2024-054 天津瑞普生物技术股份有限公司 关于回购公司股份方案 暨与金融机构签订股票回购借款合同的公告 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。 重要内容提示： 6、回购期限：回购股份的实施期限为自董事会审议通过回购股份方案之日 起 6 个月内。 7、回购股份的数量占公司总股本的比例： 按照本次回购金额上限不超过人民币 16,000.00 万元，回购价格上限不超过 人民币 19.50 元/股进行测算，回购数量约为 820.51 万股，回购股份比例约占公 司总股本的 1.76%。按照本次回购金额下限不低于人民币 10,000.00 万元，回购 价格上限不超过人民币 19.50 元/股进行测算，回购数量约为 512.82 万股，回购 股份比例约占公司总股本的 1.10%。 8、相关股东是否存在减持计划： 1 天津瑞普生物技术股份有限公司（以下简称"公司"）拟以集中竞价交易方 式回购公司股份，主要内容如下： 1、回购股份的种类：无限售条件的 A 股流通股。 2、回购股份的用途：用于股权激励或员工持股计 ...

证券代码：300119 证券简称：瑞普生物 公告编号：2024-053 第五届董事会第十八次（临时）会议决议公告 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 天津瑞普生物技术股份有限公司（以下简称"公司"）第五届董事会第十八 次（临时）会议于 2024 年 11 月 1 日在公司会议室以现场结合通讯表决方式召 开。会议通知于 2024 年 10 月 29 日以书面及网络方式送达全体董事。公司应出 席董事 9 人，实际出席董事 9 人（其中董事杨鶄，独立董事郭春林、才学鹏、周 睿以通讯方式参会），参与表决董事 9 人。本次会议由董事长李守军先生主持， 公司高级管理人员列席了会议。本次会议的召集、召开和表决程序符合《公司法》 《证券法》等法律法规和《公司章程》的规定。 二、董事会会议审议情况 1、逐项审议通过了《关于回购公司股份方案的议案》 1.1 回购股份的目的及用途 天津瑞普生物技术股份有限公司 基于对公司未来发展前景的信心以及对公司价值的高度认可，为维护广大投 资者的利益，增强投资者信心，同时完善公司长效激励机制，充分调动公司管理 ...

Investment Rating - The report maintains a "Buy" rating for Ruipu Biology (300119) [2] Core Views - Ruipu Biology's operating performance has shown sequential improvement, with a positive long-term development outlook [2] - The company's revenue in Q3 2024 increased by 9.22% YoY to 648 million RMB, while net profit attributable to the parent company decreased by 10.30% YoY to 86 million RMB [3] - Gross margin in Q3 2024 increased by 1.66 percentage points YoY, and operating cash flow has shown a quarter-over-quarter growth trend [3] - The company's new product pipeline is robust, supporting its medium to long-term development [3] Financial Performance - For the first three quarters of 2024, Ruipu Biology achieved revenue of 1.747 billion RMB, a 10.06% YoY increase, and net profit attributable to the parent company of 245 million RMB, a 10.58% YoY decrease [3] - The company's sales expense ratio decreased by 0.32 percentage points YoY, and management expense ratio decreased by 0.13 percentage points YoY [3] - The company's total market capitalization is 8.474 billion RMB, with a circulating market capitalization of 6.093 billion RMB [1][3] New Product Development - Ruipu Biology's self-developed cat triple vaccine became the first domestically produced cat triple vaccine to be marketed, filling a domestic product gap [3] - In the first half of 2024, the company shipped 1 million doses of the cat triple vaccine, making it another blockbuster product in the pet product cluster [3] - The company is advancing the launch of new products including porcine circovirus subunit vaccine and porcine infectious pleuropneumonia gene-engineered subunit vaccine [3] - Research and development progress is being accelerated for core products such as cat quadruple mRNA vaccine and feline infectious peritonitis virus vaccine [3] Market Performance - Ruipu Biology's stock price has shown strong performance, with a 20.6% increase over the past month and a 35.0% increase over the past three months, outperforming the CSI 300 index [3] - The current stock price is 18.19 RMB, within the 52-week range of 11.25-19.30 RMB [3] Financial Forecasts - Revenue for 2024-2026 is forecasted to be 2.628 billion, 2.882 billion, and 3.108 billion RMB, representing YoY growth rates of 16.86%, 9.66%, and 7.83% respectively [3] - Net profit attributable to the parent company for 2024-2026 is projected to be 390 million, 471 million, and 553 million RMB, with YoY growth rates of -13.97%, 20.96%, and 17.32% respectively [3] - The company's P/E ratio for 2024-2026 is estimated at 22x, 18x, and 15x respectively [3] Valuation Metrics - The company's ROE is expected to be 8%, 9%, and 10% for 2024-2026 [6] - P/B ratio is forecasted at 1.81, 1.70, and 1.59 for 2024-2026 [6] - P/S ratio is projected to be 3.22, 2.94, and 2.73 for 2024-2026 [6]