股票代码：300363 股票简称：博腾股份 公告编号：2024-062 号 重庆博腾制药科技股份有限公司 特此公告。 重庆博腾制药科技股份有限公司董事会 2024 年 12 月 6 日 附：徐峰林先生简历 徐峰林，现任中信证券全球投资银行管理委员会高级副总裁，保荐代表人、 注册会计师非执业会员。自保荐制度执行以来，曾负责或主要参与了联影医疗 IPO、澳华内镜 IPO、康希诺 IPO、康基医疗 IPO、百克生物 IPO、益丰药房重大 资产重组、科华生物可转债、聚光科技非公开发行等项目，在保荐业务执业过程 中严格遵守《证券发行上市保荐业务管理办法》等相关规定，执业记录良好。 关于更换保荐代表人的公告 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。 重庆博腾制药科技股份有限公司（以下简称"公司"）于近日收到公司保荐 机构中信证券股份有限公司（以下简称"中信证券"）出具的《关于更换保荐代 表人的函》，中信证券系公司非公开发行 A 股股票项目的保荐人及主承销商，原 委派程杰先生、彭浏用先生为该项目的签字保荐代表人，负责保荐工作及持续督 导工作，因原保荐代表人程杰先生工作内 ...

证券代码：300363 证券简称：博腾股份 博腾股份投资者关系活动记录表 编号：00720241128 | --- | --- | --- | |-----------------------|---------------------------------------------------------------------------------------|----------------------------------------------------------| | 投资者关系活动类 \n别 | □特定对象调研 □分析师会议 \n□媒体采访 \n□新闻发布会 □路演活动 \n□现场参观 \n■其他 | □业绩说明会 \n□电话通讯 | | 参与单位名称及人 | 参加重庆辖区上市公司 | 2024 年投资者网上集体接待日的投资 | | 员姓名 | 者 | | | 时间 | 2024 年 11 月 28 日 | | | | 地点 "全景路演"平台 | | | 上市公司接待人员 | 陈 晖 副总经理、财务负责人 | | | 姓名 | 皮 薇 副总经理、董事会秘书 | | | | | 公司与投资 ...

股票代码：300363 股票简称：博腾股份 公告编号：2024-061 号 重庆博腾制药科技股份有限公司 关于参加重庆辖区上市公司 2024 年投资者网上集体接待日 活动的公告 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。 为进一步做好投资者关系管理工作，增强与广大投资者的互动交流，重庆博 腾制药科技股份有限公司（以下简称"公司"）将参加由重庆证监局指导、重庆 上市公司协会联合深圳市全景网络有限公司举办的"重庆辖区上市公司 2024 年 投资者网上集体接待日"活动，现将有关事项公告如下： 本次活动将通过网络在线交流的方式举行，交流时间为 2024 年 11 月 28 日 （星期四）15:00-17:00，投资者可登录"全景路演"平台（http://rs.p5w.net）参与 本次活动。届时，公司相关高级管理人员将就公司治理、经营状况、可持续发展 等投资者关心的问题，与投资者进行"一对多"形式的在线交流。 欢迎广大投资者积极参与！ 特此公告。 重庆博腾制药科技股份有限公司董事会 2024 年 11 月 21 日 ...

Group 1: Overseas Capacity and Market Focus - The company's overseas capacity is primarily structured as "local for local" to serve European and American clients, thus geopolitical factors have not adversely affected its overseas capacity [1] - The current focus on biopharmaceuticals is not a priority due to existing market capacity, despite the demand for large-scale production [1] - The core business of gene cell therapy is centered on cell therapy, as domestic market opportunities are more abundant [2] Group 2: Capital Expenditure and Pricing Trends - Future capital expenditures will be driven by business needs, with the largest investment currently being in the Slovenia R&D production base [2] - Prices in the overseas market remain stable, while domestic market competition is intense, leading to price variations based on project specifics [2] - The historical performance indicates a net asset to revenue ratio of approximately 100%, meaning 1 yuan of net assets corresponds to 1 yuan of revenue [2] Group 3: Production Capacity and Order Management - The expected capacity utilization for the next year is still under assessment due to ongoing order inflow and dynamic scheduling [2] - Order cycles and rhythms vary significantly across different projects and clients, indicating a highly individualized approach to order management [2]

Investment Rating - The report maintains a "Buy" rating for the company [3]. Core Views - The company's profitability has improved, and the order situation continues to show high growth. For the first nine months of 2024, the company reported a revenue of 2.125 billion yuan, a year-on-year decline of approximately 30%, with a net profit attributable to shareholders of -206 million yuan [1]. - In Q3 2024, the company achieved a revenue of 773 million yuan, representing a year-on-year growth of about 11%, and a quarter-on-quarter growth of 14.65%. Excluding the impact of large orders, the year-on-year growth reached approximately 29% [1]. - The report highlights that the small molecule CDMO orders are growing rapidly, and the formulation CDMO business has shown outstanding growth [1]. Financial Performance Summary - For the first nine months of 2024, the small molecule API CDMO business revenue was 1.968 billion yuan, a year-on-year decline of about 33%, but a growth of approximately 3% when excluding large orders. The backlog of unexecuted orders increased by over 40% year-on-year, indicating future order delivery potential [1]. - The formulation CDMO business revenue was 101 million yuan, with a year-on-year growth of about 65% [1]. - The overall gross margin for the company was approximately 23%, with the overseas market gross margin at about 35% and the domestic market gross margin at -8% [1]. - The report notes that new businesses have a short-term negative impact on the financial statements, with a net profit impact of approximately -166 million yuan for the first nine months of 2024 [1]. Earnings Forecast and Investment Advice - Due to changes in the investment environment, the earnings forecast for the company has been adjusted. The expected net profits for 2024-2026 are -206 million yuan, 131 million yuan, and 197 million yuan, with growth rates of -177.3%, turning positive, and 49.8% respectively [1][2]. - The report suggests that the company is expected to benefit from industry trends, with revenue likely to maintain high growth in the coming years, and profit growth is anticipated to accelerate due to improvements in capacity utilization and operational efficiency [1].

Summary of the Conference Call for Boteng Co., Ltd. Company Overview - The conference call pertains to Boteng Co., Ltd., which has released its 2024 annual report and ESG report on March 29, 2024 [1] Financial Performance - In 2024, the company achieved revenue of 3.01 billion RMB, a decline from 3.67 billion RMB in 2023, primarily due to the impact of large orders delivered in 2023 [2] - The company reported a net loss attributable to shareholders of 288 million RMB, marking its first loss since going public [2] - Excluding the impact of large orders, the company's revenue actually increased by 14% year-over-year [3] - The company's gross margin showed an upward trend in 2024, although new business segments had lower margins due to being in the cultivation phase [4] Business Segments - The chemical segment, when excluding large orders, saw a revenue increase of 13% in 2024 [3] - New business segments, including nucleic acid macromolecules and ADCs, experienced a 35% increase [3] - The company’s expenses were reduced by approximately 20% compared to previous years due to cost-cutting measures [5] Regional Performance - Revenue in the U.S. region declined due to a one-time impact, while Europe and Asia-Pacific regions showed growth [4] - The Asia-Pacific region achieved a growth rate of 35% [4] Strategic Initiatives - The company is undergoing a strategic transformation, focusing on enhancing customer satisfaction, which scored 9.2 out of 10 [7] - The company has made significant progress in cost reduction and efficiency improvements, with a global integrated marketing organization established [8] - The company has initiated a transformation in core business processes, improving order-to-cash cycles [9] New Business Development - The small molecule API segment reported revenue exceeding 500 million RMB, with a project count increase of 25 projects year-over-year [10] - The company has made strides in gene and cell therapy projects, achieving significant milestones in R&D and clinical trials [12] - The company has established new production capabilities in Shanghai, enhancing service capacity [13] Global Expansion - The company is focusing on global expansion, particularly in the U.S. and Europe, with revenue growth of 9% in the U.S. [13] - New capabilities in GNP and high-potency APIs have been developed to meet customer demands [13] Future Outlook - The company plans to enhance management capabilities in overseas subsidiaries and continue to improve operational efficiency [16] - The focus will be on providing customized global solutions to meet customer needs in a changing environment [16] Conclusion - Overall, Boteng Co., Ltd. is navigating a challenging environment with strategic initiatives aimed at cost reduction, efficiency improvement, and global expansion while addressing the impacts of previous large orders and market conditions [2][5][16]

Investment Rating - The report maintains a "Buy" rating for the company [2][3]. Core Views - The company's revenue for Q1-Q3 2024 is 2.125 billion, a year-on-year decline of 30.02%, with a net profit attributable to shareholders of -206 million [2]. - In Q3 alone, revenue reached 773 million, showing a year-on-year growth of 10.73% and a quarter-on-quarter increase of 14.65%, with a net profit of -36 million, indicating a reduction in losses [2]. - The report highlights that traditional business has resumed growth, while emerging businesses are gradually ramping up, leading to improved profitability and a significant increase in orders on hand [2]. Summary by Sections Financial Performance - For Q1-Q3 2024, excluding the impact of large orders, revenue grew by 6% year-on-year, and in Q3, it grew by 29% year-on-year when excluding large orders [2]. - The small molecule API CDMO revenue for Q1-Q3 2024 was 1.968 billion, with a growth of approximately 3% after excluding large orders [2]. - New business segments, including small molecule formulation CDMO, generated 101 million in revenue, a year-on-year increase of about 65% [2]. - The gross margin for Q1-Q3 2024 was 23.3%, down 22.7 percentage points year-on-year, primarily due to high-margin large orders delivered in the same period last year and capacity ramp-up effects [2]. Order Growth and Strategic Partnerships - As of Q3 2024, the small molecule API CDMO business has seen orders on hand increase by over 40% year-on-year, ensuring performance growth [2]. - In October 2024, the company entered into a strategic cooperation agreement with CRO Yinos, enhancing resource integration for high-quality, efficient end-to-end services [2]. Valuation and Price Target - The report adjusts the EPS forecast for 2024-2025 to -0.41 and 0.30 (previously 1.01 and 1.22), and introduces a 2026 EPS forecast of 0.80 [2]. - The target price is revised down to 23.70 from 34.75, based on a comparable company PB valuation of 2.37X for 2025 [2].

证券代码：300363 证券简称：博腾股份 博腾股份投资者关系活动记录表 编号：00520241025 | --- | --- | --- | |-----------------------|--------------------------------------------------------------------------|------------------------------------------------------------| | 投资者关系活动类 \n别 | □媒体采访 \n□新闻发布会 □路演活动 \n□现场参观 \n□其他 | □特定对象调研 □分析师会议 \n□业绩说明会 \n■电话通讯 | | | | 东北证券、华西证券、开源证券、申万宏源证券、平安证券、中 | | | | 泰证券、中金公司、平安证券、海通证券、民生证券、国盛证 | | | | 券、兴业证券、太平洋证券、浙商证券、长江证券、招商证券、 | | | | 天风证券、东方证券、华泰证券、华创证券、西部证券、野村东 | | 参与单位名称及人 | | 方国际证券、博道基金、广发基金、泰康基金、长盛基金、东海 ...

Summary of Conference Call Records Company and Industry Overview - The conference call primarily discusses the performance of **Bodeng Co.** in the **biotechnology and pharmaceutical industry** for Q3 2024, highlighting revenue growth and operational adjustments. Key Points and Arguments Financial Performance - **Revenue Growth**: Bodeng Co. reported an **11% year-over-year revenue growth** for Q3 2024. Excluding the impact of large orders from the previous year, the revenue growth was **29%** year-over-year [1][2]. - **Loss Reduction**: The company has successfully narrowed its losses, attributed to operational efficiency measures and cost control strategies [1][2]. - **Revenue for the Year**: For the first nine months of 2024, the total revenue was **2.152 billion** (21.52 billion) CNY, reflecting a **30% decline** year-over-year. However, excluding large orders, there was a **6% growth** [1][2]. - **Market Stability**: The domestic market remains stable, while the overseas market has shown growth when excluding large orders [1][2]. Business Segments and New Initiatives - **CDMO Business**: The small molecule CDMO segment has seen a growth rate of over **40%** [5]. - **New Business Losses**: The company reported a loss of **45 million** (4.5 million) CNY in the gene cell therapy segment, a **30% reduction** compared to the previous year [2]. - **Gross Margin Improvement**: Gross margins have gradually improved due to efficiency measures and a recovery in production utilization rates [2]. Market Environment and Demand - **External Environment**: The external business environment is improving, with a positive outlook on funding and demand in the pharmaceutical sector, particularly in oncology and autoimmune diseases [3][4]. - **Supply Chain Trends**: There is a noticeable trend of demand diversification, with some demand returning to Western markets due to geopolitical factors [3][4]. - **Globalization Strategy**: The company’s early globalization efforts are yielding benefits, with ongoing projects in Slovenia and the U.S. [4]. Strategic Partnerships and Future Outlook - **Strategic Collaborations**: The company has formed a strategic partnership with **Innos** to enhance service offerings in drug development and project management [13][16]. - **Future Growth**: The company is optimistic about future revenue growth driven by a strong order backlog and market demand, with expectations of double-digit growth [14][15]. Operational Efficiency - **Cost Control**: The company is focused on controlling operational costs while improving gross margins through better product mix and delivery structures [15][16]. - **Production Capacity Utilization**: Current production capacity utilization is around **60%**, with some facilities operating at higher levels due to new project introductions [5][6]. Challenges and Risks - **Market Competition**: The domestic market remains competitive, with pricing pressures noted, particularly in the context of ongoing market share expansion efforts [12][14]. - **Regulatory Environment**: The impact of the **Biological Safety Act** is assessed to be minimal for Bodeng Co., allowing for continued operational stability [3]. Additional Important Insights - **Long-term Strategy**: The company is committed to expanding its capabilities in new modalities and enhancing its presence in overseas markets, with a focus on maintaining competitive advantages [17]. - **Investment in R&D**: Continuous investment in research and development is emphasized to support future growth and innovation in product offerings [17]. This summary encapsulates the key discussions and insights from the conference call, providing a comprehensive overview of Bodeng Co.'s current performance, market dynamics, and strategic direction.

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has shown a recovery in revenue growth in Q3, with a 10.73% year-on-year increase and a 14.65% quarter-on-quarter increase, despite a 30.02% decline in revenue year-to-date [4][5] - The net loss for Q3 narrowed to -36.39 million yuan, indicating an improvement compared to Q2 [4] - The company is experiencing steady growth in its small molecule CDMO business, with a significant increase in unfulfilled orders [5] - New business segments, including formulation and CGT, are also showing promising growth, with substantial increases in new order amounts [6] Financial Performance Summary - For the first three quarters of 2024, the company achieved revenue of 2.125 billion yuan, down 30.02% year-on-year, but with a 6% increase when excluding major orders [4] - The Q3 revenue was 773 million yuan, with a gross margin of 31.09%, reflecting a 9.28 percentage point increase from the previous quarter [4] - The projected net profit for 2024-2026 is revised to -251 million, 61 million, and 153 million yuan respectively, with EPS estimates of -0.46, 0.11, and 0.28 yuan [4] - The company’s small molecule API business saw a revenue increase of 42% year-on-year, indicating a recovery trend [5] Business Segment Performance - The small molecule API CDMO business generated 1.968 billion yuan in revenue, down approximately 33% year-on-year, but grew by 3% when excluding major orders [5] - The formulation and CGT businesses reported revenues of 101 million and 40 million yuan respectively, with year-on-year growth rates of 65% and 27% [6] - The number of signed orders in the formulation business increased by 40% year-on-year, while CGT business saw a remarkable 188% increase in new signed orders [6]