Core Viewpoint - Dongfulong Technology Group held an online earnings briefing to address investor concerns regarding stock performance, business layout, and product feedback, emphasizing strategic planning and overseas marketing efforts to enhance competitiveness and brand recognition [1][2]. Business Layout - The company is enhancing its market share in the pharmaceutical equipment sector through both organic growth and mergers and acquisitions, considering innovative models such as equipment equity participation or leasing [2]. - Dongfulong's main business segments include bioprocessing, formulation equipment, engineering solutions, and food equipment engineering, with new business expansions in the healthcare sector contributing to revenue, although specific growth data for the first half of the year was not disclosed [2]. Product Feedback - As a leading domestic pharmaceutical equipment provider, Dongfulong's products are noted for their high technical content and intelligence, performing well across various customer applications [2]. - The company offers integrated solutions including MES, WMS, QMS, and SCADA systems, reflecting a trend towards automation and intelligence in pharmaceutical equipment [2].

Group 1: Company Strategy and Market Position - The company aims to enhance investor confidence by actively expanding its product chain and strengthening its overseas marketing network to increase market share [2][3] - The company is a leading player in the domestic pharmaceutical equipment sector, with high technical content and automation levels in its products [3][4] - The company is considering innovative models such as equipment equity participation or leasing to boost market share [3] Group 2: Financial Performance and Shareholder Value - The company is focused on developing new products to meet customer demands and is actively securing domestic and international orders to improve operational performance [3] - The company reported significant growth in orders within the biopharmaceutical and vaccine production sectors, which are key strategic areas [3] - The company’s revenue contribution from new business expansions in the healthcare sector is detailed in its semi-annual report [3] Group 3: Technological Advancements - The company is enhancing its product intelligence through automation and smart manufacturing solutions, which improve production efficiency and product quality [4] - The company provides various information systems software to offer comprehensive smart manufacturing solutions to clients [4] Group 4: Investment and Partnerships - The company holds a 20% stake in Yantai Saibo Biotechnology Co., which is a minority investment and does not involve operational management [3] - The company’s subsidiary, Shanghai Bohao, is primarily focused on chip detection and single-cell sequencing, with no current plans to enter the brain-computer interface chip sector [3][4]

Company Overview - Dongfulong Technology Group Co., Ltd. is located at 1509 Duhui Road, Minhang District, Shanghai, established on December 25, 1993, and listed on February 1, 2011 [1] - The company specializes in the research, design, production, sales, and service of medical freeze-dryers and freeze-drying systems [1] Financial Performance - As of June 30, 2025, Dongfulong achieved operating revenue of 2.429 billion yuan, a year-on-year increase of 6.01% [2] - The net profit attributable to shareholders was 45.92 million yuan, a year-on-year decrease of 59.71% [2] - Cumulative cash dividends since the A-share listing amount to 1.782 billion yuan, with 512 million yuan distributed over the past three years [3] Stock Performance - On September 19, Dongfulong's stock price fell by 2.06%, trading at 14.26 yuan per share, with a total market capitalization of 10.921 billion yuan [1] - Year-to-date, the stock price has increased by 8.00%, but it has decreased by 0.42% over the last five trading days and by 7.34% over the last 20 days [1] - The stock's trading volume on September 19 was 63.97 million yuan, with a turnover rate of 0.79% [1] Shareholder Information - As of June 30, 2025, the number of shareholders increased to 32,100, a rise of 2.35% from the previous period [2] - The average circulating shares per person decreased by 2.30% to 17,526 shares [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 7.3336 million shares, a decrease of 2.1354 million shares from the previous period [3]

Group 1 - The company announced a mid-term equity distribution plan for 2025, proposing a cash dividend of 0.30 yuan per 10 shares (tax included) [2] - The record date for the equity distribution is set for September 24, 2025, and the ex-dividend date is September 25, 2025 [2]

证券代码：300171 证券简称：东富龙 公告编号：2025-034 东富龙科技集团股份有限公司 2025 年中期权益分派实施公告 特别提示： 1、截至本公告披露日，东富龙科技集团股份有限公司（以下简称"公司"或"本 公司"）回购专用证券账户股份数量 4,980,001 股，不参与本次权益分派。公司 2025 年中期权益分派方案为：以公司现有总股本剔除已回购股份 4,980,001 股后 的 760,848,039 股为基数，向全体股东每 10 股派发现金红利 0.30 元（含税）。 2、本次权益分派实施后计算除权除息价格时，按总股本（含回购股份）折 算的每 10 股现金股利（含税）=现金分红总额/总股本×10=22,825,441.17 元 /765,828,040 股×10=0.298049 元（保留六位小数，最后一位直接截取，不四舍五 入）。本次权益分派实施后的除权除息参考价格=权益分派股权登记日收盘价 -0.0298049 元/股。 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有 虚假记载、误导性陈述或者重大遗漏。 1、股东大会审议通过的公司 2025 年中期利润分配预案为：截至 20 ...

Summary of the Conference Call on China's Healthcare Industry Industry Overview - The conference call focused on the **China Healthcare Industry**, specifically the **life sciences sector** [1][6]. - A strong wave of **innovation drug asset licensing** and a new round of **interest rate cuts** are revitalizing the Chinese life sciences industry after years of consolidation [1]. Key Companies Covered - **Acrobiosystems** (百普赛斯) - Rated **Overweight** with a target price of **RMB 102.50** [11][12]. - **Tofflon** (东富龙) - Rated **Equal-weight** with a target price of **RMB 16.77** [13][15]. Core Insights - The current upcycle in the industry is driven by the **globalization of early-stage innovative drug assets**, leading to increased demand for early drug discovery and development services [2]. - Preference is given to companies that directly serve early drug development needs over those focused on late-stage commercial production, which face challenges such as limited overseas demand and prolonged equipment replacement cycles [2]. - **Acrobiosystems** is considered undervalued due to its unique operational platform, focus on industrial clients, and strong growth potential driven by innovation drug development [2][11]. - **Tofflon** is expected to maintain a reasonable valuation despite moderate terminal market demand and a complex domestic replacement process [13][14]. Financial Metrics - **Acrobiosystems**: - Expected **CAGR** of **55%** from 2024 to 2027, with a current **P/E** ratio of **34x** for 2026 [11][12]. - Anticipated **net profit margin** expansion due to strong sales growth and operational leverage [11]. - **Tofflon**: - Expected **CAGR** of **42%** from 2024 to 2027, with a current **P/E** ratio of **22x** for 2026 [14][15]. - Revenue projections show a gradual increase from **RMB 5.01 billion** in 2024 to **RMB 6.24 billion** in 2027 [15]. Risks Identified - **Downside Risks**: - Geopolitical uncertainties, unexpected regulatory changes, price competition, and delays in domestic replacement processes [3]. - **Upside Potential**: - Accelerated domestic replacement processes, increased demand from a growing drug pipeline, and easing geopolitical concerns could enhance valuations [3]. Conclusion - The Chinese life sciences sector is poised for growth driven by innovation and favorable financing conditions, with specific companies like **Acrobiosystems** and **Tofflon** positioned to capitalize on these trends. The analysis suggests a favorable investment environment, albeit with certain risks that need to be monitored closely [1][2][3].

中信证券股份有限公司 关于东富龙科技集团股份有限公司 2025年半年度跟踪报告 | 保荐人名称：中信证券股份有限公司 | 被保荐公司简称：东富龙 | | --- | --- | | 保荐代表人姓名：赵洞天 | 联系电话：010-60838275 | | 保荐代表人姓名：王天祺 | 联系电话：010-60838144 | 一、保荐工作概述 | 项目 | 工作内容 | | --- | --- | | 1.公司信息披露审阅情况 | | | （1）是否及时审阅公司信息披露文件 | 是 | | （2）未及时审阅公司信息披露文件的次数 | 无 | | 2.督导公司建立健全并有效执行规章制度的情况 | | | （1）是否督导公司建立健全规章制度（包括但不 限于防止关联方占用公司资源的制度、募集资金 | 是 | | 管理制度、内控制度、内部审计制度、关联交易 | | | 制度） | | | （2）公司是否有效执行相关规章制度 | 是 | | 3.募集资金监督情况 | | | （1）查询公司募集资金专户次数 | 6次，1-6月按月查询 | | （2）公司募集资金项目进展是否与信息披露文件 | 是 | | 一致 | | | 4. ...

企查查APP显示，近日，烟台博赛生物科技有限公司成立，注册资本1亿元，经营范围包含药品生产； 药品批发；药品零售；药品委托生产等。企查查股权穿透显示，该公司由东富龙(300171)等共同持股。 ...

（文章来源：证券日报） 证券日报网讯 9月15日晚间，东富龙发布公告称，公司于2025年9月15日召开职工代表大会，经与会职 工代表民主选举，一致同意选举陈勇先生为公司第六届董事会职工代表董事。 ...

上海市锦天城律师事务所 关于东富龙科技集团股份有限公司 2025 年第一次临时股东大会的 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 9/11/12 层 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于东富龙科技集团股份有限公司 2025 年第一次临时股东大会的 法律意见书 致：东富龙科技集团股份有限公司 上海市锦天城律师事务所（以下简称"本所"）接受东富龙科技集团股份有限 公司（以下简称"公司"）委托，就公司召开 2025 年第一次临时股东大会（以下 简称"本次股东大会"）的有关事宜，根据《中华人民共和国公司法》（以下简称"《公 司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）和《上市公司股 东会规则》（以下简称"《股东会规则》"）、《深圳证券交易所上市公司股东会网 络投票实施细则（2025 年修订）》等法律、法规、规章和其他规范性文件以及《东 富龙科技集团股份有限公司章程》（以下简称"《公司章程》"）的有关规定，出 具本法律意见书。 为出具本法律意见书，本所及本所律师依据 ...