| 证券代码：300482 | 证券简称：万孚生物 | 公告编号：2026-006 | | --- | --- | --- | | 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 2026 年第一次临时股东会会议决议公告 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、误导性陈述或重大遗漏。 特别提示： 1、本次股东会无增加、变更提案的情况。 2、本次股东会以现场投票和网络投票相结合的表决方式。 3、本次股东会未涉及变更前次股东会决议的情形。 4、中小投资者是指除上市公司董事、高级管理人员以及单独或者合计持有 公司 5%以上股份的股东以外的其他股东。 一、股东会的召开和出席情况 广州万孚生物技术股份有限公司（以下简称"公司"）2026 年第一次临时股 东会于 2026 年 1 月 14 日 14:00 在公司会议室召开。会议通知已于 2025 年 12 月 29 日在中国证监会指定的信息披露网站公告。本次股东会由公司董事会召集， 董事长王继华女士主持，公司全体董事、高级管理人员、公司聘请的见证律师等 相关人士出席、列席了本次会议。会议的召集、召开 ...

持续督导培训情况报告 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 2025 年度持续督导培训情况报告 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 13 号——保荐业务》等相关规 定，华泰联合证券有限责任公司（以下简称"华泰联合证券"、"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"、"公司"） 2020 年 度向不特定对象发行可转换公司债券的持续督导阶段的保荐机构、2022 年度创 业板向特定对象发行股票的保荐机构，对万孚生物进行持续督导。2025 年 12 月 30 日，华泰联合证券持续督导小组完成了对万孚生物相关董事、监事、高级管 理人员、公司控股股东、实际控制人以及重点部门中层管理人员的培训工作，特 向贵所报送培训工作报告。 一、培训和交流的对象 万孚生物相关董事、监事、高级管理人员、公司控股股东、实际控制人以及 重点部门中层管理人员。 二、培训及交流时间 2025年12月30日，华泰联合证券持续督导小组对万孚生物参与培训人员以现 场、线上参会的方式进行了集中培训和交流。 三、培训的内容及效果总结 ...

北京市君合（广州）律师事务所 关于 广州万孚生物技术股份有限公司 2026 年第一次临时股东会的 法律意见书 二零二六年一月 | 北京总部 | 电话: | (86-10) 8519-1300 | 上海分所 | 电话: | (86-21) 5298-5488 | 广州分所 | 电话: (86-20) 2805-9088 | 深圳分所 | 电话: (86-755) 2939-5288 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 传真: | (86-10) 8519-1350 | | 传真: | (86-21) 5298-5492 | | 传真: (86-20) 2805-9099 | | 传真: (86-755) 2939-5289 | | 杭州分所 | 电话: | (86-571) 2689-8188 | 成都分所 | 电话: | (86-28) 6739-8000 | 西安分所 | 电话: (86-29) 8550-9666 | 青岛分所 | 电话: (86-532) 6869-5000 | | | 传真: | (86 ...

Core Insights - As of January 12, 2026, 106 A-share listed companies have released their 2025 earnings forecasts, with nearly 60% indicating positive expectations, including 60 companies expecting profit increases or recoveries, while 40 companies forecast declines or losses [1] Group 1: Positive Earnings Forecasts - The main sectors with positive earnings forecasts include pharmaceuticals, semiconductors, computers, communications, and other electronic equipment manufacturing, primarily concentrated in the ChiNext and STAR Market [1] - Companies in the non-ferrous metal mining and chemical manufacturing sectors also reported positive forecasts, influenced by rising prices of non-ferrous metals and chemical products [1] Group 2: Notable Company Performances - Huisheng Bio is expected to turn a profit in 2025, with a projected net profit of 235 million to 271 million yuan, representing a year-on-year increase of 1265.93% to 1444.54% [3] - The profit increase for Huisheng Bio is attributed to market expansion, improved production capacity, and a reduction in financial costs due to early redemption of convertible bonds [3][4] - Wanfu Bio, however, is projected to report a net loss of 46 million to 69 million yuan in 2025, marking its worst performance since its listing in 2015, with a significant decline in net profit and a first-time loss in non-recurring net profit [5][8] Group 3: Industry Challenges - Wanfu Bio's challenges stem from domestic market price reductions, changes in product structure, and increased financial burdens due to reduced capitalization of interest expenses [6][8] - The real estate sector, particularly companies like Greenland Holdings, continues to face significant challenges, with projected net losses of 16 billion to 19 billion yuan due to declining asset prices and extended project development cycles [6]

Core Viewpoint - Guangzhou Wondfo Biotech Co., Ltd. (Wondfo Biotech) is expected to report a significant decline in net profit for 2025, with projections indicating a drop of 91.81% to 87.71% year-on-year, marking the worst performance since its listing in 2015 [1][2] Group 1: Financial Performance - The forecasted net profit attributable to shareholders for 2025 is estimated to be between 46 million to 69 million yuan, with a net profit excluding non-recurring gains and losses expected to be between -15 million to -7.5 million yuan [1] - The company's revenue has been declining, with first quarter, half-year, and third quarter revenues reported at approximately 800 million yuan, 1.246 billion yuan, and 1.69 billion yuan, reflecting year-on-year decreases of 7.06%, 20.92%, and 22.52% respectively [3] - The net profit attributable to shareholders for the first three quarters of 2025 was approximately 189 million yuan, 189 million yuan, and 134 million yuan, showing year-on-year declines of 13.37%, 46.82%, and 69.32% respectively [3] Group 2: Business Operations - The decline in domestic revenue is attributed to a combination of VAT rate adjustments and the impact of medical industry policies, which have pressured both volume and pricing [2] - Despite domestic challenges, the overseas market is performing steadily, providing crucial support for the company's sustainable growth [2][4] - Wondfo Biotech has been expanding its international market presence, establishing subsidiaries in Russia and the Philippines, and enhancing its product offerings in the North American market [4] Group 3: Research and Development - The company has maintained high R&D expenditures, with investments reaching 265 million yuan in the first three quarters of 2025 [4] - New products, including various diagnostic kits, have been successfully registered and launched, contributing to the company's innovation strategy [4][5] - Wondfo Biotech aims to leverage favorable policies and existing AI developments to commercialize advancements in pathology and clinical diagnostics [4]

Core Viewpoint - Wanfu Bio (300482.SZ) is expected to face its lowest annual net profit since its listing in 2015, with a projected net profit of 46 million to 69 million yuan for 2025, representing a year-on-year decline of 87.71% to 91.81% [2][3] Financial Performance - The company's net profit after deducting non-recurring gains and losses is projected to be between -15 million and -7.5 million yuan, marking a decline of 101.51% to 103.02% year-on-year [2][3] - For the first three quarters of 2025, Wanfu Bio reported total revenue of 1.689 billion yuan, a year-on-year decrease of 22.52%, and a net profit of 133.74 million yuan, down 69.32% [4][6] - The gross profit margin for the first three quarters of 2025 was 60.3%, down 3.13 percentage points year-on-year, while the net profit margin was only 7.48%, down 12.68 percentage points [5] Reasons for Decline - The decline in revenue is attributed to shrinking domestic business income due to VAT rate adjustments and pressure on hospital business from medical industry policies [4][7] - The drop in net profit is influenced by three main factors: declining gross margins due to price reductions and product structure changes, high R&D and sales expenditures, and impairment losses from divesting non-core, low-profit businesses [4][7] Industry Context - Wanfu Bio's performance reflects broader challenges in the in vitro diagnostics (IVD) industry, which is experiencing a downturn as the benefits from the COVID-19 pandemic fade [8] - The IVD industry is currently in a consolidation phase, with ongoing pressures from policy changes and pricing strategies affecting demand and profitability [8] Strategic Adjustments - The company has decided to pause the construction of its "Knowledge City Production Base" project to avoid resource waste and control costs, indicating a strategic shift in response to changing internal and external conditions [9][10] - Wanfu Bio aims to enhance cash flow and strategic flexibility through this pause, which is seen as a prudent move rather than a sign of financial distress [10] Future Outlook - The company is focusing on innovation and AI-driven strategies to transition its business from point-of-care (POC) to IVD, with hopes for significant business improvement in 2026 [10]

Core Viewpoint - Wanfu Bio is expected to report its worst performance since its IPO in 2015, with a projected net profit of 46 million to 69 million yuan for 2025, representing a year-on-year decline of 87.71% to 91.81% [1] Group 1: Financial Performance - The company anticipates a non-net profit of -7.5 million to -15 million yuan for 2025, marking its first-ever loss in this category since going public [2] - The decline in main business revenue is attributed to a drop in domestic income, influenced by VAT rate adjustments and policy impacts on hospital business, leading to pressure on both volume and price [2] - Factors contributing to the decline in net profit include price reductions in the domestic market, changes in product structure, a decrease in consolidated gross margin, high R&D and sales expenses, and impairment losses from divesting non-core, low-profitability businesses [2] Group 2: Market Performance - Despite domestic market challenges, Wanfu Bio has seen stable growth in overseas markets, particularly in North America, where a long-term supply agreement for respiratory products has been established [3] - The company's stock price has underperformed, with a cumulative decline of 9.15% in 2025, compared to a 29.87% increase in the overall market, and a drop of over 70% from its peak in 2020 [3][4] Group 3: Strategic Initiatives - To reverse the declining performance and stock price, the company is focusing on product specialization, cost control, channel upgrades, accelerated overseas expansion, governance optimization, and market value management [4] - The company has decided to postpone the implementation of the "Knowledge City Production Base Construction Project" to avoid resource waste and improve the efficiency of fundraising, given the significant changes in the internal and external operating environment [4] Group 4: Future Outlook - For 2026, the company plans to leverage market recovery in the domestic sector, focusing on core product lines to improve revenue, while continuing to expand in overseas markets [5] - The company aims to commercialize AI applications in pathology and clinical diagnostics, and to enhance its business from point-of-care (POC) to in vitro diagnostics (IVD), accelerating its international expansion [5]

Core Viewpoint - Wanfu Bio (300482) is expected to report its worst performance since its listing in 2015, with a projected net profit of 46 million to 69 million yuan for 2025, representing a year-on-year decline of 87.71% to 91.81% [1][5]. Financial Performance - The projected net profit for 2025 is between 46 million and 69 million yuan, marking a significant decline compared to the previous year's profit of 56,162.85 million yuan [1][5]. - The company anticipates a net profit excluding non-recurring gains and losses to be between -7.5 million and -15 million yuan, indicating a shift from profit to loss for the first time since its listing [5][6]. Business Operations - Wanfu Bio focuses on the in vitro diagnostics sector within the medical device industry, specializing in the research, production, and marketing of rapid diagnostic reagents and related instruments [5][6]. - The decline in revenue is attributed to a drop in domestic sales, influenced by VAT rate adjustments and policy impacts on hospital business, leading to pressure on both volume and pricing [6]. Market Performance - The company's stock price has underperformed, with a cumulative decline of 9.15% in 2025, while the overall market rose by 29.87% during the same period [6]. - Compared to its peak in 2020, Wanfu Bio's stock price has decreased by over 70% [6]. Future Outlook - To reverse the declining trend in performance and stock price, the company plans to focus on product specialization, cost control, channel upgrades, accelerated overseas expansion, governance optimization, and market value management [8]. - For 2026, Wanfu Bio aims to leverage market recovery, enhance its presence in grassroots healthcare, and expand its overseas market, particularly in North America, while pursuing innovation through AI applications in pathology and clinical diagnostics [8].

Core Viewpoint - Guangzhou Wanfeng Biotechnology Co., Ltd. (Wanfeng Bio) anticipates a net profit attributable to shareholders of 46 million to 69 million yuan for the year 2025, amid significant adjustments in the IVD (in vitro diagnostics) sector, leading to a temporary decline in business performance [1] Domestic Market - The revenue from the colloidal gold and fluorescence product lines in the grassroots medical market has decreased, resulting in reduced profitability [1] - The launch of the FG-3000 gold standard reading instrument enhances operational efficiency in higher-tier hospitals, laying a solid hardware foundation for the digitalization and intelligence of gold standard business [1] - The introduction of new products such as the norovirus detection in the digestive tract business and the stabilization of terminal sales in the fluorescence business are noted, with significant growth in the grassroots public health glycosylated hemoglobin screening business [1] - The LA-1000 fluorescence level linking system has significantly improved automation and intelligence in emergency and outpatient services, while the LA-6000 intelligent laboratory assembly line has been successfully launched, with new projects like the six-item thrombosis test rapidly scaling up, resulting in a 40% year-on-year increase in terminal sales [1] Overseas Market - The overseas business continues to grow, with overseas revenue surpassing domestic revenue for the first time, providing crucial support for the company's sustainable growth [2] - The localization process in key countries has deepened, with an increasing share in small and medium laboratories in international markets [2] - In the North American market, the introduction of respiratory business has led to significant growth, with a long-term supply agreement signed with a major U.S. client for respiratory triad testing products, establishing a solid foundation for strategic layout in the U.S. respiratory infectious disease market [2] - By the end of 2025, the company will enter a new product harvest period, having obtained registration for several important single products, including a triad testing kit for respiratory syncytial virus, mycoplasma pneumonia, and adenovirus [2] Investment and Ecosystem Development - The company's direct investment in digital and AI pathology projects has seen rapid growth under the guidance of new national healthcare policies [3] - The "Intelligent Auxiliary Analysis Software for Coagulation Disorders" developed by the company has been selected for the "2025 Artificial Intelligence Medical Device Innovation Task" list, marking a substantial breakthrough in the strategic layout of AI-assisted diagnosis and laying a solid foundation for future clinical needs and commercialization [3] - In 2026, the company aims to leverage recovery in the domestic market, focusing on grassroots stability, and achieve rapid revenue improvement through the luminescence and molecular product lines [3] - The company will continue to expand its brand and channel advantages in overseas and North American markets to achieve high growth, while leveraging favorable policies to commercialize existing AI breakthroughs in pathology and clinical diagnosis [3]

Core Viewpoint - Wanfu Bio expects a net profit of 46 million to 69 million yuan for the year 2025, facing challenges in the IVD sector due to market adjustments, but plans to drive growth through innovation and AI in 2026 [1][2] Group 1: Financial Performance - The company anticipates a net profit of 46 million to 69 million yuan for 2025 [1] - The revenue from the domestic market, particularly in the grassroots medical sector, has declined, impacting profitability [1] - The terminal pure sales in the new thrombus six-item project have increased by 40% year-on-year [1] Group 2: Market Strategy - In 2026, the company aims to expand its business from point-of-care testing to in vitro diagnostics and enhance its international presence [1] - The overseas revenue has surpassed domestic revenue for the first time, providing significant support for sustainable growth [2] - The company has signed a long-term supply agreement for respiratory products with a major client in the U.S., establishing a solid foundation for its strategic layout in respiratory infectious diseases [2] Group 3: Innovation and Product Development - The company is entering a new product harvest phase by the end of 2025, with several key products obtaining registration certificates [2] - The AI-assisted diagnostic software for coagulation disorders has been selected for a national initiative, marking a significant breakthrough in the AI-assisted diagnosis field [2] - The company plans to leverage favorable policies and existing AI developments to achieve commercialization in pathology and clinical diagnostics [2]