Core Insights - The company Garden Bio (300401) reported that as of October 20, 2025, the total number of shareholders is 28,297 [1] Company Summary - As of the specified date, the total number of shareholders for Garden Bio stands at 28,297 [1]

Summary of Key Points Core Viewpoint - Garden Biologics experienced a decline in stock price and significant net financing outflow, indicating potential investor concerns about the company's financial performance and market position [1][2]. Financial Performance - For the period from January to September 2025, Garden Biologics reported a revenue of 936 million yuan, a year-on-year decrease of 0.20%, and a net profit attributable to shareholders of 234 million yuan, down 3.07% year-on-year [2]. - Cumulative cash dividends since the company's A-share listing amount to 446 million yuan, with 178 million yuan distributed over the past three years [3]. Shareholder and Market Activity - As of October 10, 2025, the number of shareholders increased to 28,600, a rise of 0.47%, while the average circulating shares per person decreased by 0.47% to 18,694 shares [2]. - On October 22, 2025, Garden Biologics had a total financing balance of 599 million yuan, accounting for 8.18% of its market capitalization, which is below the 20th percentile of the past year, indicating a low financing level [1]. Stock Trading and Borrowing - On October 22, 2025, the company saw a financing buy-in of 10.83 million yuan and a repayment of 26.07 million yuan, resulting in a net financing outflow of 15.24 million yuan [1]. - The company had a borrowing balance of 1.16 million yuan with a borrowing volume of 86,600 shares, which is above the 80th percentile of the past year, indicating a high level of short selling activity [1]. Business Overview - Garden Biologics, established in December 2000 and listed in October 2014, focuses on developing, producing, and selling products related to a complete vitamin D3 industry chain. Its revenue composition includes vitamin products (47.41%), pharmaceuticals (30.22%), lanolin and derivatives (20.93%), and other categories [1].

Core Viewpoint - Garden Bio reported a slight decline in revenue but an increase in net profit and cash flow, indicating improved operational quality and cash collection ability [1] Financial Performance - The company achieved a revenue of 300 million yuan in the first three quarters, a year-on-year decrease of 0.2% [1] - The net profit attributable to shareholders, excluding non-recurring gains and losses, was 72 million yuan, reflecting a year-on-year growth of 9.06% [1] - Total assets reached 5.913 billion yuan, up 5.36% year-on-year [1] - The net cash flow from operating activities was 345 million yuan, an increase of 27.02% year-on-year [1] Business Strategy - The company focuses on two main areas: Vitamin D3 and pharmaceutical manufacturing, implementing a "vertical and horizontal" development strategy [1] - The "vertical" strategy consolidates its advantages in the Vitamin D3 supply chain while entering pharmaceutical manufacturing through the acquisition of Garden Pharmaceuticals [1] - The "horizontal" strategy aims to expand the product line into new varieties such as Vitamins A, E, B6, and biotin, positioning the company as a comprehensive vitamin giant [1] Research and Development - The company has established three R&D centers in Dongyang, Jinhua, and Hangzhou, focusing on natural product biosynthesis, industrial research, and cutting-edge drug trials [2] - Garden Pharmaceuticals has a dedicated R&D center aimed at developing new products and optimizing existing processes to enhance core competitiveness [2] - The company has developed a unique vertical integration advantage by self-producing NF-grade cholesterol and extending into the pharmaceutical health product sector [3] Product Development and Market Position - The company has completed the construction of a 6,000-ton VA powder project and is preparing for trial production of a 5,000-ton VB6 project and a 200-ton biotin project [3] - Garden Pharmaceuticals is strategically selecting products for development based on clinical supply shortages and market potential, focusing on chronic diseases such as hypertension and respiratory diseases [3] - The company has obtained drug registration certificates for 10 products, with several included in national and local centralized procurement, enhancing sales channels [4] Industry Outlook - The company is positioned within strategic concepts like "new quality productivity" and "synthetic biology," which are expected to bring policy support and long-term growth potential [4]

Core Viewpoint - Garden Biologics experienced a decline in stock price by 3.71% on October 20, with a trading volume of 204 million yuan, indicating potential investor concerns and market volatility [1]. Financing Summary - On October 20, Garden Biologics had a financing buy-in amount of 40.22 million yuan, while the financing repayment was 47.11 million yuan, resulting in a net financing outflow of 6.89 million yuan [1]. - The total financing and securities lending balance for Garden Biologics reached 619 million yuan, with the financing balance accounting for 8.42% of the circulating market value, which is below the 20th percentile level over the past year, indicating a low financing level [1]. - In terms of securities lending, 100 shares were repaid while 9,900 shares were sold, amounting to a selling value of 133,600 yuan. The securities lending balance was 1.50 million yuan, which is above the 90th percentile level over the past year, indicating a high level of short selling [1]. Business Performance - As of October 10, the number of shareholders for Garden Biologics was 28,600, an increase of 0.47%, while the average circulating shares per person decreased by 0.47% to 18,694 shares [2]. - For the period from January to September 2025, Garden Biologics reported a revenue of 936 million yuan, a slight decrease of 0.20% year-on-year, and a net profit attributable to the parent company of 234 million yuan, down 3.07% year-on-year [2]. Dividend Information - Since its A-share listing, Garden Biologics has distributed a total of 446 million yuan in dividends, with 178 million yuan distributed over the past three years [3]. Institutional Holdings - As of September 30, 2025, the fourth largest circulating shareholder of Garden Biologics was the Southern CSI 1000 ETF, holding 3.48 million shares, a decrease of 48,400 shares compared to the previous period. The tenth largest shareholder was Hong Kong Central Clearing Limited, holding 2.23 million shares, a decrease of 403,600 shares [3].

Investment Rating - The report does not explicitly state an investment rating for the industry [2] Core Insights - The pharmaceutical and biotechnology sector experienced a decline of 2.48% from October 13 to October 17, underperforming the broader market index, the CSI 300, which fell by 2.22% [3][8] - There is a sustained enthusiasm for business development (BD) transactions in innovative drugs, with several companies entering agreements with international pharmaceutical firms [3][12] - The ESMO conference held from October 17 to 21 showcased positive advancements in multiple studies, particularly in immunotherapy and antibody-drug conjugates (ADCs), highlighting the potential of domestic biotech companies [3][11] Market Weekly Review - The pharmaceutical and biotechnology sector saw a weekly decline of 2.48%, with offline pharmacies and traditional Chinese medicine showing slight gains of 0.59% and 0.38%, respectively [8] - Medical research outsourcing, medical devices, and other biological products faced significant declines, with drops of 6.46%, 5.37%, and 3.6% respectively [8][9] - Notable stock performances included Asia-Pacific Pharmaceutical with a rise of 36.7%, while Betta Pharmaceuticals saw a decline of 17.0% [11] Industry News and Key Company Announcements Important Industry Events - On October 18, Kangfang Biologics presented data on a PD-1/VEGF dual antibody in non-small cell lung cancer at the ESMO conference, showing significant improvement in progression-free survival (PFS) [11] - On October 16, Hansa Biopharma announced a licensing agreement with Roche for the global exclusive rights to develop and commercialize HS-20110, with an upfront payment of $80 million [12] - On October 16, Prigen Biologics entered a collaboration with Gilead's Kite Pharma, receiving an upfront payment of $120 million [12][13] Company Announcements - Huayuan Biologics reported a slight decrease in total revenue for the third quarter, amounting to 936 million yuan, a 0.2% year-on-year decline [14] - Shanghai Pharmaceuticals received FDA approval for Doxycycline capsules, with projected sales of approximately $130 million in the U.S. for 2024 [14][16]

Core Insights - Garden Bio reported a slight decline in revenue and net profit for the first three quarters of 2025 compared to the previous year [1] - The company experienced a significant drop in both revenue and net profit in the third quarter of 2025 [1] Financial Performance - For the first three quarters of 2025, Garden Bio achieved operating revenue of 936 million yuan, a year-on-year decrease of 0.2% [1] - The net profit attributable to shareholders for the same period was 234 million yuan, down 3.07% year-on-year [1] - In the third quarter of 2025, the company reported operating revenue of 300 million yuan, reflecting a year-on-year decline of 10.99% [1] - The net profit for the third quarter was 72.51 million yuan, which represents a year-on-year decrease of 27.02% [1]

Core Insights - Garden Biologics (300401) reported a decline in revenue and net profit for Q3 2025, indicating potential challenges in its financial performance [1] Financial Performance - The company achieved a revenue of 300 million yuan in Q3, representing a year-on-year decrease of 10.99% [1] - The net profit attributable to shareholders for Q3 was 72.51 million yuan, down 27.02% year-on-year [1] - For the first three quarters, the net profit attributable to shareholders totaled 234 million yuan, reflecting a year-on-year decline of 3.07% [1]

Core Viewpoint - Garden Biologics reported a slight decline in revenue and net profit for the third quarter of 2023, indicating potential challenges in maintaining growth in a competitive market [1] Financial Performance - Revenue for the first three quarters of 2025 was approximately 936 million yuan, a year-on-year decrease of 0.2% [1] - Net profit attributable to shareholders was around 234 million yuan, reflecting a year-on-year decline of 3.07% [1] - Basic earnings per share were 0.43 yuan, down 4.44% compared to the previous year [1]

Core Insights - Garden Biotech reported Q3 2025 revenue of 300 million, a year-on-year decrease of 10.99% [1] - Net profit for Q3 2025 was 72.51 million, down 27.02% year-on-year [1] - For the first three quarters of 2025, revenue totaled 936 million, reflecting a slight year-on-year decline of 0.20% [1] - Net profit for the first three quarters was 234 million, showing a year-on-year decrease of 3.07% [1]

智通财经APP讯，花园生物(300401.SZ)发布2025年三季度报告，该公司前三季度营业收入为9.36亿元， 同比减少0.20%。归属于上市公司股东的净利润为2.34亿元，同比减少3.07%。归属于上市公司股东的扣 除非经常性损益的净利润为2.21亿元，同比增长9.06%。基本每股收益为0.43元。 ...