冠昊生物科技股份有限公司是一家从事再生医学材料及再生型医用植入器械研发、生产及销售的高科技 企业。公司主要从事研究、开发、生产:Ⅱ类、Ⅲ类:6846植入材料和人工器官,6846医用卫生材料及敷 料;销售自产产品及提供服务;三类、二类:植入材料和人工器官,医用卫生材料及敷料的批发、零售。公 司的技术研究和产品开发紧跟国家发展方向，目前公司参与了两项"十三五"国家重点研发计划，均是围 绕组织修复与可再生材料进行技术创新和新产品开发。 5月12日，冠昊生物今日收盘13.39元，上涨1.36%，滚动市盈率PE（当前股价与前四季度每股收益总和 的比值）达到127.29倍，创24天以来新低，总市值35.50亿元。 从行业市盈率排名来看，公司所处的医疗器械行业市盈率平均49.84倍，行业中值36.59倍，冠昊生物排 名第109位。 股东方面，截至2025年4月18日，冠昊生物股东户数29448户，较上次减少722户，户均持股市值35.28万 元，户均持股数量2.76万股。 最新一期业绩显示，2025年一季报，公司实现营业收入9479.71万元，同比3.67%；净利润1486.61万 元，同比3.30%，销售毛利率77.05 ...

冠昊生物科技股份有限公司(以下简称"公司")于 2025 年 4 月 23 日在中国 证监会指定的信息披露网站巨潮资讯网（http://www.cninfo.com.cn）上披露了《关 于召开 2024 年年度股东大会的通知》（公告编号：2025-032）。本次股东大会采 用现场投票和网络投票相结合的方式召开，现将本次股东大会的有关事宜提示如 下： 一、召开会议的基本情况 （一）股东大会届次：2024 年年度股东大会 （二）会议召集人：公司董事会 （三）会议召开的合法、合规性：经公司第六届董事会第十三次会议审议通 过，决定召开 2024 年年度股东大会，召集程序符合有关法律、行政法规、部门 规章、规范性文件和《公司章程》的规定。 证券代码：300238 证券简称：冠昊生物 公告编号：2025-033 冠昊生物科技股份有限公司 关于召开 2024 年年度股东大会的提示性公告 本公司及董事会全体人员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或者重大遗漏。 （四）会议召开日期和时间： 现场会议召开时间：2025 年 5 月 13 日下午 15:00 网络投票时间：通过深圳证券交易所交易系统进行网 ...

Financial Performance - The company achieved a revenue of 37,748.31 million yuan in 2024 [3] - The total profit amounted to 2,801.93 million yuan, with a net profit attributable to shareholders of 2,741.69 million yuan [3] Future Strategies - The company plans to optimize its product structure based on industry and market evaluations to ensure sustainable development [2] - Future profit growth will rely on core product technology upgrades, market share expansion, and alignment with national policy directions [4] Capital Raising and Stock Performance - The company is proceeding with a private placement at a price lower than the current stock price, adhering to regulatory policies [3] - The stock price is influenced by various market factors, and the company is committed to sustainable development and protecting investor interests [6] Industry Outlook - The biomedicine industry is undergoing significant changes, with a complex market environment in 2024 [4] - The company is focused on its main business while exploring new opportunities in line with national policies and industry trends [5] Project Updates - The clinical trial for the company's product for atopic dermatitis is actively ongoing [5] - The Zhongshan Tianhao Pharmaceutical Technology project was completed in 2024 and will gradually commence production [5]

Group 1 - The report highlights the release of Guangzhou's "Mergers and Acquisitions Ten Articles," aiming to promote industrial development through mergers and acquisitions, targeting at least 60 deals by 2027 [3][35][38] - In the recent period, eight companies disclosed significant restructuring events, maintaining the same level as the previous period, with an equal number of companies involved in changes of actual controllers [3][12] - The restructuring index fell by 5.68%, underperforming compared to the Shanghai Composite Index (-3.37%) and the CSI 300 (-4.21%), while slightly outperforming the CSI 1000 (-6.48%) [3][25][29] Group 2 - The report analyzes key merger cases, including the acquisition of New潮传媒 by 分众传媒, valued at 8.3 billion yuan, which aims to integrate high-end urban resources with community resources in lower-tier cities [4][12] - The acquisition of 映日科技 by 呈和科技, valued at 1.8 billion yuan, focuses on technological synergy in the high-performance sputtering target materials sector, enhancing competitiveness in the display industry [4][12] - 湖南发展 plans to acquire four hydropower companies, increasing its installed capacity to 778,000 kilowatts, aligning with national carbon neutrality goals and enhancing operational synergy [5][12] Group 3 - The report identifies investment opportunities based on the "12218" industrial map, including strategic industry clusters such as 广汽集团 and 冠昊生物, and modern service industries like 广电计量 and 山水比德 [6][12][35] - The report emphasizes the encouragement of mergers and acquisitions in the biopharmaceutical and sports sectors, with various government departments advocating for financial support for these initiatives [35][36][38] - The report outlines the strategic focus on integrating upstream and downstream assets in key industries, aiming for significant mergers and acquisitions to enhance technological capabilities and market competitiveness [38]

4月24日，冠昊生物今日收盘12.82元，上涨1.10%，滚动市盈率PE（当前股价与前四季度每股收益总和 的比值）达到121.88倍，创15天以来新低，总市值33.99亿元。 从行业市盈率排名来看，公司所处的医疗器械行业市盈率平均46.75倍，行业中值29.99倍，冠昊生物排 名第110位。 股东方面，截至2025年4月18日，冠昊生物股东户数29448户，较上次减少722户，户均持股市值35.28万 元，户均持股数量2.76万股。 冠昊生物科技股份有限公司是一家从事再生医学材料及再生型医用植入器械研发、生产及销售的高科技 企业。公司主要从事研究、开发、生产:Ⅱ类、Ⅲ类:6846植入材料和人工器官,6846医用卫生材料及敷 料;销售自产产品及提供服务;三类、二类:植入材料和人工器官,医用卫生材料及敷料的批发、零售。公 司的技术研究和产品开发紧跟国家发展方向，目前公司参与了两项"十三五"国家重点研发计划，均是围 绕组织修复与可再生材料进行技术创新和新产品开发。 最新一期业绩显示，2025年一季报，公司实现营业收入9479.71万元，同比3.67%；净利润1486.61万 元，同比3.30%，销售毛利率77.05 ...

Core Insights - The financial performance of Guanhao Biological in 2024 shows a decline in both revenue and profit, raising concerns about its future growth potential [1][4][6] Financial Performance - Total revenue for 2024 was 377 million yuan, a decrease of 6.60% from 404 million yuan in 2023 [1][4] - Net profit attributable to shareholders fell to 27.42 million yuan, down 11.57% from 31 million yuan in 2023 [1][4] - Non-recurring net profit dropped significantly by 35.48% to 19.71 million yuan [1][4] - Despite a rolling quarter-on-quarter growth in revenue, net profit, and non-recurring net profit of 1.10%, 56.04%, and 55.29% respectively, the overall performance remains concerning [4] R&D Investment - R&D expenditure in 2024 was 42.31 million yuan, a reduction of 14.31% compared to the previous year [4][5] - The proportion of R&D investment to total revenue decreased by 1.01 percentage points to 11.21% [4][6] - The reduction in R&D spending raises doubts about the company's future innovation capabilities, which are critical for a biotech firm [4][5] Business Segments - The company continues to advance projects in its three core business segments: biomaterials, pharmaceuticals, and cell technology, with notable progress in regenerative medicine materials and stem cell technology [5] - However, the cut in R&D funding casts a shadow over the future development of these projects [5] Asset Structure and Financial Pressure - The asset structure of Guanhao Biological changed significantly, with fixed assets increasing by 97.3%, while construction in progress decreased by 96.56% [6] - Long-term borrowings surged by 532.54%, indicating increased financial pressure amid declining revenues and profits [6] - The company generated 43.59 million yuan in cash flow from financing activities, but faced a net cash outflow of 84.99 million yuan from investing activities, highlighting substantial capital expenditure pressures [6]

关键财务指标解读 营收净利双降，市场竞争压力凸显营业收入：2024年公司营业收入为377,483,103.80元，较2023年的 404,178,697.25元下降了6.60%。从业务板块来看，医疗器械业务收入287,028,488.79元，占比76.04%， 同比微降0.72%；药品业务收入37,005,568.41元，占比9.80%，同比下降25.15%；租赁及其他服务业收入 53,449,046.60元，占比14.16%，同比下降18.58%。各业务板块收入的变动，反映了市场需求和竞争格局 的变化，公司需进一步优化业务布局，提升市场竞争力。净利润：归属于上市公司股东的净利润为 27,416,909.65元，较2023年的31,005,798.58元下降11.57%。净利润的下滑，一方面是由于营业收入的减 少，另一方面也受到成本费用等因素的影响。公司需要加强成本控制，提高运营效率，以提升盈利能 力。扣非净利润：归属于上市公司股东的扣除非经常性损益的净利润为19,714,325.01元，较2023年的 30,555,396.54元下降35.48%。这表明公司主营业务的盈利能力面临较大挑战，非经常性损益对净利 ...

Core Viewpoint - The company is focusing on innovation and market expansion in response to the evolving healthcare landscape, particularly in the fields of biomaterials, pharmaceuticals, and cell therapy, while ensuring sustainable development and internal governance optimization [2][6]. Company Overview - The company is actively engaged in the development of innovative products and technologies with independent intellectual property rights, aiming to enhance product quality and optimize product structure as core drivers of growth [2]. - The company has established a leading technology platform for animal-derived medical biomaterials, participating in over twenty national and local scientific projects [3]. Business Segments Biomaterials - The company has developed a series of regenerative medical materials that exhibit good tissue compatibility and promote tissue growth, with several products already on the market for various medical applications [3][4]. - Key products include biological dura (spinal) patches and sterile biological dressings, which are applicable in neurosurgery, thoracic surgery, dermatology, orthopedics, and more [4]. Pharmaceuticals - The company’s pharmaceutical research has yielded Baimuode, a first-in-class drug for treating inflammatory and autoimmune diseases, which has been included in the national medical insurance directory [4]. - Baimuode has potential applications in several important disease areas, with ongoing clinical trials for atopic dermatitis [4]. Cell Therapy - The company is enhancing its capabilities in the preparation of immune and stem cells, focusing on clinical efficacy and safety evaluations [5]. - Current projects include autologous cartilage cell transplantation and immune cell storage technology, aimed at treating joint cartilage defects and cancer, respectively [5]. Financial Data - The company has not required retrospective adjustments or restatements of previous financial data, indicating stable financial reporting practices [7]. - There are no significant discrepancies between the reported financial indicators and previously disclosed quarterly or semi-annual reports [7]. Future Outlook - The company plans to continue focusing on its three core business areas while enhancing innovation and market development efforts to navigate internal and external challenges [6].

冠昊生物科技股份有限公司 内控审计报告 大信审字[2025]第 29-00074 号 大信会计师事务所（特殊普通合伙） WUYIGE CERTIFIED PUBLIC ACCOUNTANTS LLP. 大信会计师事务所 北京市海淀区知春路 1 号 学院国际大厦 22 层 2206 邮编 100083 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。 WUYIGE Certified Public Accountants.LLP Room 2206 22/F, Xueyuan International Tower No.1 Zhichun Road, Haidian Dist. Beijing,China,100083 电话 Telephone：+86（10）82330558 传真 Fax： +86（10）82327668 网址 Internet： www.daxincpa.com.cn 内部控制审计报告 大信审字[2025]第 29-00074 号 冠昊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 ...

冠昊生物科技股份有限公司 审 核 报 告 大信专审字[2025]第 29-00140 号 大信会计师事务所（特殊普通合伙） WUYIGE CERTIFIED PUBLIC ACCOUNTANTS LLP. 大信会计师事务所 北京市海淀区知春路 1 号 学院国际大厦 22 层 2206 邮编 100083 WUYIGE Certified Public Accountants.LLP Room 2206 22/F,Xueyuan International Tower No.1 Zhichun Road,Haidian Dist. Beijing,China,100083 电话 Telephone：+86（10）82330558 传真 Fax： +86（10）82327668 网址 Internet： www.daxincpa.com.cn 非经常性损益审核报告 大信专审字[2025]第 29-00140 号 冠昊生物科技股份有限公司全体股东： 一、审核意见 我们接受委托，在审计了冠昊生物科技股份有限公司（以下简称"贵公司"）2024 年度 申报财务报表及附注的基础上，审核了后附贵公司编制的相应期间的非经常性损 ...