一、日常关联交易基本情况 （一）本次日常关联交易预计所履行的审议程序 公司于 2024 年 12 月 9 日召开第五届董事会第七次会议、第五届监事会第六 次会议，审议通过《关于公司及控股子公司增加 2024 年度日常关联交易预计的 议案》。该事项已经独立董事专门会议审议通过，全体独立董事同意将该议案提 交董事会审议。 华泰联合证券有限责任公司关于 广州万孚生物技术股份有限公司及控股子公司增加 2024 年 度日常关联交易预计的核查意见 华泰联合证券有限责任公司（以下简称"华泰联合证券"或"保荐机构"）作为 广州万孚生物技术股份有限公司（以下简称"万孚生物"或"公司"）2022 年度创业 板向特定对象发行股票的保荐机构，根据《证券发行上市保荐业务管理办法》、 《深圳证券交易所创业板股票上市规则》、《深圳证券交易所上市公司自律监管指 引第 2 号——创业板上市公司规范运作》等有关规定，对万孚生物及控股子公司 增加 2024 年度日常关联交易预计的情况进行了核查，具体情况如下： （二）前期已预计 2024 年度日常关联交易情况 2024 年 4 月 19 日，公司召开第四届董事会第二十八次会议、第四届监事会 第二十 ...

| 证券代码：300482 | 证券简称：万孚生物 公告编号：2024-108 | | --- | --- | | 债券代码：123064 | 债券简称：万孚转债 | 广州万孚生物技术股份有限公司 关于董事会提议向下修正可转换公司债券转股价格的公告 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。 广州万孚生物技术股份有限公司（以下简称"公司"）于 2024 年 12 月 9 日 召开的第五届董事会第七次会议审议通过了《关于董事会提议向下修正可转换公 司债券转股价格的议案》，上述议案尚需提交公司 2024 年第五次临时股东大会审 议，现将相关事项公告如下： 一、可转换公司债券基本情况 （一）可转换公司债券发行情况 经中国证券监督管理委员会"证监许可[2020]1830 号"文同意注册的批复， 公司于 2020 年 9 月 1 日向不特定对象发行了 600 万张可转换公司债券，每张面 值 100 元，发行总额 6.00 亿元。 （二）可转换公司债券上市情况 经深交所同意，公司 6.00 亿元可转换公司债券于 2020 年 9 月 23 日起在深 交所挂牌交易，债券 ...

| 证券代码：300482 | 证券简称：万孚生物 | 公告编号：2024-111 | | --- | --- | --- | | 债券代码：123064 | 债券简称：万孚转债 | | 广州万孚生物技术股份有限公司 关于召开 2024 年第五次临时股东大会的通知 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。 广州万孚生物技术股份有限公司（以下简称"公司"）于 2024 年 12 月 9 日召 开的第五届董事会第七次会议审议通过了《关于提请召开 2024 年第五次临时股 东大会的议案》，决定于 2024 年 12 月 25 日（星期三）召开公司 2024 年第五次 临时股东大会，现将本次股东大会的有关事项通知如下： 一、召开会议的基本情况 1、股东大会届次：2024 年第五次临时股东大会。 2、会议召集人：公司董事会。 3、会议召开的合规性：本次股东大会的召开符合有关法律、行政法规、部 门规章、规范性文件和《广州万孚生物技术股份有限公司章程》的有关规定，公 司第五届董事会第七次会议已经审议通过召开本次股东大会的议案。 4、会议召开的日期、时间： （1）现场 ...

| 证券代码：300482 | | 证券简称：万孚生物 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 债券代码：123064 | | 债券简称：万孚转债 | | | | | | | | 转股价格：人民币 | | 元/股 48.58 | | | | | | | | 转股时间：2021 年 | 3 | 月 8 8 | 日至 | 2026 | 年 | 月 | 31 | 日 | | 根据《广州万孚生物技术股份有限公司向不特定对象发行可转换公司债券募 | | | | | | | | | 集说明书》（以下简称"《募集说明书》"）中相关约定：在本次发行的可转换公司 债券存续期间，当公司股票在任意连续三十个交易日中至少有十五个交易日的收 盘价低于当期转股价格的 80%时，公司董事会有权提出转股价格向下修正方案并 提交公司股东大会表决。上述方案须经出席会议的股东所持表决权的三分之二以 上通过方可实施。 广州万孚生物技术股份有限公司（以下简称"公司"）股票自 2024 年 11 月 19 日至 2024 年 12 月 2 日已有 1 ...

Investment Rating - The report maintains a "Recommended" investment rating for the company with a target price of 34 yuan, compared to the current price of 26.49 yuan [1]. Core Insights - The company reported a steady revenue growth with a total revenue of 2.181 billion yuan for the first three quarters of 2024, representing an increase of 8.83%. The net profit attributable to shareholders was 436 million yuan, up by 9.04%, and the net profit excluding non-recurring items was 388 million yuan, reflecting a growth of 14.88% [1]. - In Q3 2024, the company achieved a revenue of 606 million yuan, marking a 17.51% increase, while the net profit attributable to shareholders rose by 22.70% to 80 million yuan, and the net profit excluding non-recurring items surged by 49.89% to 63 million yuan [1]. - The report highlights that despite macroeconomic disturbances affecting the IVD industry in China, the company has shown resilience with steady growth in its core business. Profitability was impacted by stock incentive expenses and foreign exchange losses, but recovery in domestic market admissions and ongoing product launches are expected to enhance performance [1]. - The company is making progress in obtaining overseas certifications for its products, which is anticipated to contribute positively to its revenue. Notable achievements include FDA EUA authorization for the respiratory triple test kit and WHO pre-certification for malaria detection products, which will support market expansion in Africa and Southeast Asia [1]. - A new stock incentive plan was introduced in 2024, aimed at boosting the development of the chemiluminescence business, which is seen as a key growth driver for the company [1]. - The financial forecasts for 2024-2026 estimate revenues of 3.25 billion, 3.98 billion, and 4.88 billion yuan, respectively, with net profits projected at 650 million, 800 million, and 1.01 billion yuan, indicating year-on-year growth rates of 33.8%, 23.3%, and 25.7% [1][2]. Financial Summary - Total revenue for 2023 is reported at 2.765 billion yuan, with a projected increase to 3.249 billion yuan in 2024, reflecting a year-on-year growth of 17.5% [2]. - The net profit for 2023 is 488 million yuan, expected to rise to 652 million yuan in 2024, showing a growth of 33.8% [2]. - The earnings per share (EPS) is projected to increase from 1.01 yuan in 2023 to 1.36 yuan in 2024, with a corresponding price-to-earnings (P/E) ratio decreasing from 26 to 20 [2].

| 证券代码：300482 | 证券简称：万孚生物 | 公告编号：2024-104 | | --- | --- | --- | | 债券代码：123064 | 债券简称：万孚转债 | | 广州万孚生物技术股份有限公司 关于万孚转债回售结果的公告 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。 本次"万孚转债"回售不会对公司财务状况、股本结构、经营成果及现金流 量产生重大影响，不会损害公司的债务履行能力和持续经营能力。 三、本次可转换公司债券回售的后续事项 1、债券代码：123064，债券简称：万孚转债 2、回售价格：100.266 元人民币/张（含息、税） 一、本次可转换公司债券回售的公告情况 广州万孚生物技术股份有限公司（以下简称"公司"）根据《深圳证券交易 所创业板股票上市规则》、《深圳证券交易所上市公司自律监管指引第 15 号—— 可转换公司债券》等法律法规的有关规定以及《广州万孚生物技术股份有限公司 向不特定对象发行可转换公司债券募集说明书》的约定，于 2024 年 10 月 22 日、 2024 年 10 月 23 日、2024 年 10 月 24 ...

Investment Rating - Buy/Maintain rating for Wondfo Biotech (300482) [2] Core Views - Wondfo Biotech's international business is rapidly expanding, while its domestic business shows strong resilience [2] - The company's global layout is accelerating, with COVID-19 single test and fentanyl test reagents obtaining FDA registration certificates [4] - Domestic business demonstrates strong resilience, with 900-speed chemiluminescence installations exceeding expectations [5] - Financial expense ratio is slightly affected by exchange gains and losses, but profitability has improved year-on-year [6] Financial Performance - In the first three quarters of 2024, Wondfo Biotech achieved revenue of 2,181 million yuan, a year-on-year increase of 8.83% [3] - Net profit attributable to the parent company was 436 million yuan, a year-on-year increase of 9.04% [3] - In the third quarter of 2024, revenue was 606 million yuan, a year-on-year increase of 17.51% [3] - Net profit attributable to the parent company in Q3 2024 was 80 million yuan, a year-on-year increase of 22.70% [3] International Business - International business maintains relative stability, with quantitative business achieving rapid growth [4] - Single-person luminescence products in overseas markets have seen significant year-on-year growth [4] - Quantitative platform revenue and proportion have significantly increased, driven by comprehensive instrument deployment [4] - Fentanyl urine test reagent POC professional version and home self-test OTC products have obtained FDA 510(k) approval [4] - Self-developed COVID-19 home test (OTC) product has passed FDA 510(k) approval [4] Domestic Business - Domestic quantitative business saw slight year-on-year growth in Q3 2024, with chemiluminescence business growing rapidly [5] - 900-speed chemiluminescence high-speed machine installations exceeded expectations in the first three quarters of 2024 [5] - 200-speed instrument installations met the 2024 target [5] - Colloidal gold platform achieved rapid year-on-year growth in Q3 2024, exceeding the business rhythm set at the beginning of the year [5] Profitability and Expenses - Comprehensive gross profit margin increased by 0.59pct to 63.43% in the first three quarters of 2024 [6] - Sales expense ratio, management expense ratio, and R&D expense ratio decreased by 1.61pct, 0.50pct, and 0.52pct respectively [6] - Financial expense ratio increased by 1.22pct due to exchange rate fluctuations [6] - Overall net profit margin increased by 0.32pct to 20.16% [6] - In Q3 2024, comprehensive gross profit margin increased by 0.30pct to 61.07% [6] - Net profit margin in Q3 2024 increased by 0.87pct to 13.45% [6] Future Projections - Expected revenue for 2024-2026 is 3,101 million yuan, 3,796 million yuan, and 4,620 million yuan, with year-on-year growth rates of 12%, 22%, and 22% respectively [8] - Expected net profit attributable to the parent company for 2024-2026 is 638 million yuan, 782 million yuan, and 982 million yuan, with year-on-year growth rates of 31%, 23%, and 26% respectively [8] - EPS for 2024-2026 is expected to be 1.32, 1.62, and 2.04 respectively [8] - PE ratio for 2024 is 19 times based on the closing price on October 29, 2024 [8]

| 证券代码：300482 | 证券简称：万孚生物 | 公告编号：2024-103 | | --- | --- | --- | | 债券代码：123064 | 债券简称：万孚转债 | | 广州万孚生物技术股份有限公司 关于万孚转债恢复转股的提示性公告 3、暂停转股时间：2024 年 10 月 25 日至 2024 年 10 月 31 日 4、恢复转股时间：2024 年 11 月 1 日 广州万孚生物技术股份有限公司（以下简称"公司"）的股票自 2024 年 9 月 1 日至 2024 年 9 月 10 日连续七个交易日的收盘价格低于当期转股价 48.56 元/股的 70%，即 33.99 元/股；2024 年 9 月 11 日至 2024 年 10 月 22 日连续二 十三个交易日的收盘价格低于当期转股价 48.58 元/股（因部分限制性股票回购 注销导致公司股本减少，自 2024 年 9 月 11 日起，"万孚转债"转股价格由 48.56 元/股调整为 48.58 元/股）的 70%，即 34.01 元/股。"万孚转债"处于 最后两个计息年度。根据《广州万孚生物技术股份有限公司向不特定对象发行 可转换公司债 ...

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。 特别提示： | 证券代码：300482 | 证券简称：万孚生物 | 公告编号：2024-102 | | --- | --- | --- | | 债券代码：123064 | 债券简称：万孚转债 | | 广州万孚生物技术股份有限公司 关于万孚转债回售的第六次提示性公告 1、回售价格：100.266 元人民币/张（含息、税） 2、回售条件触发日：2024 年 10 月 22 日 3、回售申报期：2024 年 10 月 25 日至 2024 年 10 月 31 日 4、发行人资金到账日：2024 年 11 月 5 日 5、回售款划拨日：2024 年 11 月 6 日 6、投资者回售款到账日：2024 年 11 月 7 日 7、回售期申报期内万孚转债暂停转股 8、本次回售不具有强制性 9、在回售款划拨日之前，如已申报回售的可转换公司债券发生司法冻结或 扣划等情形，债券持有人本次回售申报业务失效。 2、回售价格 根据《募集说明书》的约定，当期应计利息的计算公式为：IA=B×i×t/365 IA：指当期应计利息； B：指本次发 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company reported a revenue of 2.765 billion yuan in 2023, with a year-on-year growth rate of -51%. The forecast for 2024 is 3.127 billion yuan, representing a 13% growth [1] - The net profit attributable to the parent company for 2023 is projected to be 488 million yuan, with a significant year-on-year decline of -59%. The expected net profit for 2024 is 632 million yuan, indicating a recovery with a growth rate of 30% [1] - The company has shown a strong recovery in its conventional business, with significant growth in international operations and a steady improvement in profitability [1][2] Financial Performance Summary - **Revenue (in million yuan)**: - 2022: 5,681 - 2023: 2,765 - 2024E: 3,127 - 2025E: 3,873 - 2026E: 4,810 [1] - **Net Profit (in million yuan)**: - 2022: 1,197 - 2023: 488 - 2024E: 632 - 2025E: 780 - 2026E: 968 [1] - **Earnings Per Share (in yuan)**: - 2022: 2.49 - 2023: 1.01 - 2024E: 1.31 - 2025E: 1.62 - 2026E: 2.01 [1] - **Return on Equity (ROE)**: - 2022: 26% - 2023: 11% - 2024E: 12% - 2025E: 13% - 2026E: 14% [1] Market and Business Outlook - The company has seen a significant recovery in its conventional business, with a notable increase in revenue and net profit in the third quarter of 2024, driven by the recovery of routine business and stable expense management [1] - The international business is expanding rapidly, with ongoing localization efforts and strong growth in the international division, supported by WHO certification for products [1][2] - The company is expected to maintain high growth potential, with a focus on product-driven growth and a stable outlook for its U.S. operations [1][2]