证券代码：300558 证券简称：贝达药业 公告编号：2024-080 贝达药业股份有限公司 第四届监事会第十六次会议决议公告 本公司及监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。 1 作》"）等相关法律法规及《公司章程》的有关规定，关联董事已回避表决，不会 对公司财务状况和经营成果造成重大不利影响，也不存在损害公司和全体股东特 别是中小股东利益的情形。综上，我们一致同意本事项。 一、监事会会议召开情况 1、本次监事会由监事会主席张洋南先生召集，会议通知于 2024 年 10 月 29 日以电话、电子邮件等形式临时紧急送达全体监事，监事会会议通知中包括会议 的相关材料，同时列明了会议的召开时间、地点、内容和方式。 2、本次监事会于 2024 年 10 月 31 日在公司杭州总部 3 楼会议室召开，采取 现场会议和电话会议相结合的方式，现场投票表决。 3、本次监事会应到 3 人，实际出席会议人数为 3 人。 4、本次会议由监事会主席张洋南先生主持，张洋南先生就监事会临时会议 的紧急召集做了说明，公司证券事务代表沈剑豪先生列席了本次会议。 5、本次会议的召集、召开和表决 ...

证券代码：300558 证券简称：贝达药业 公告编号：2024-081 贝达药业股份有限公司 关于与杭州瑞普晨创科技有限公司签署《战略合作协议》 及对外投资暨关联交易的公告 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。 一、关联交易概述 为加强公司在干细胞治疗领域的布局，推动贝达创新生态圈的建设，公司拟与 瑞普晨创签署《战略合作协议》，双方将合作开发干细胞治疗业务，在人多能干细 胞向胰岛细胞诱导分化技术领域展开深入合作。 特别提示： 1、2024 年 10 月 31 日，贝达药业股份有限公司（以下简称"贝达药业"或"公 司"）第四届董事会第十九次会议、第四届监事会第十六次会议审议通过《关于与 杭州瑞普晨创科技有限公司签署<战略合作协议>暨关联交易的议案》《关于投资杭 州瑞普晨创科技有限公司暨关联交易的议案》。 2、公司拟与杭州瑞普晨创科技有限公司（以下简称"瑞普晨创"或"标的公 司"）签署《战略合作协议》，双方将合作开发干细胞治疗业务，在人多能干细胞 向胰岛细胞诱导分化技术领域展开深入合作。《战略合作协议》为双方协商的框架 性协议，就具体合作事项，公司与瑞普 ...

证券代码：300558 证券简称：贝达药业 公告编号：2024-078 贝达药业股份有限公司 关于归还用于暂时补充流动资金的闲置募集资金的公告 2024 年 11 月 1 日 1 在使用此部分闲置募集资金暂时补充流动资金期间，公司严格遵守《上市公司 监管指引第 2 号—上市公司募集资金管理和使用的监管要求》《深圳证券交易所创 业板股票上市规则》及《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》的相关规定，仅用于与主营业务相关的生产经营使用，资金使用 安排合理，不存在变相改变募集资金用途或者影响募集资金投资项目的正常进行， 不存在损害股东利益的情况。 截至 2024 年 11 月 1 日，公司已将实际用于暂时补充流动资金的募集资金人民 币 2.6 亿元全部归还至募集资金专户，该笔资金使用期限未超过 12 个月。截至本公 告披露日，公司已将上述募集资金的归还情况通知了保荐机构及保荐机构代表人。 特此公告。 贝达药业股份有限公司董事会 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。 贝达药业股份有限公司（以下简称"贝达药业"或"公司"）于 ...

上 市 公 司 证 券 研 究 报 告 医药生物 2024 年 10 月 29 日 贝达药业 (300558) ——新品驱动+费用管控，三季报业绩略超预期 | --- | --- | |------------------------------------|-------------------------------| | 市场数据： | 2024 年 10 月 29 日 | | 收盘价（元） | 46.80 | | 一年内最高/最低（元） | 63.09/30.43 | | 市净率 | 3.5 | | 息率（分红/股价） | 0.36 | | 流通 A 股市值（百万元） | 19,524 | | 上证指数 / 深证成指 | 3,286.41/10,543.33 | | 注："息率"以最近一年已公布分红计算 | | | --- | --- | |-------------------------------|------------------------| | | | | 基础数据 : 2024 | 年 09 月 30 日 | | | | | 每股净资产（元） | 13.47 | | 资产负债率 % | ...

证券研究报告 | 季报点评 gszqdatemark 2024 10 30 年 月 日 贝达药业（300558.SZ） 盈利能力有效提升，新兴分子配合商业合作打造长期空间 公司发布 2024 三季报，2024Q3 营收 8.44 亿元，同比+15.65%，扣 非归母净利润 1.45 亿元，同比-4.88%。2024 前三季度营收 23.45 亿 元，同比+14.73%，扣非归母净利润 3.62 亿元，同比+50.12%。 利润同比大幅增长，盈利能力得到较大提升。公司前三季度整体营收同比 增长 14.73%，扣非归母利润同比增长 50.12%，公司整体获利能力有了 大幅提高。公司前三季度销售费用 8.71 亿元，同比去年同期 7.10 亿元， 增长约 22.68%。研发费用 2024 前三季度为 3.84 亿元，2023 同期为 4.68 亿元，同比降低约-17.95%。公司目前大力推广产品销售并对研发管线做 了部分梳理，研发费用有所降低，整体盈利能力有了大幅提高，为未来长 期发展打下坚实基础。 新分子临床推进迅速，打造长期增长空间。公司目前临床管线推进迅速， 仅从近期公告来看，公司已经公告了 MCLA-129 ...

Investment Rating - The report maintains a "Buy-A" investment rating for the company [5]. Core Views - The company has shown accelerated domestic performance with a revenue of 2.345 billion yuan in the first three quarters of 2024, representing a year-on-year growth of 14.73%. The net profit attributable to shareholders reached 416 million yuan, up 36.61% year-on-year [1]. - The company is experiencing rapid growth in its domestic products, including Beifu, Ensat, and Voronib, with potential new approvals expected next year. The third-generation EGFR TKI Beifu is participating in this year's medical insurance negotiations, which could significantly boost sales in 2025 if included in the insurance directory [2]. - The overseas expansion is beginning to yield results, with Ensat expected to receive FDA approval by the end of 2024. The eye drug EYP-1901 has entered Phase 3 clinical trials overseas, indicating promising future developments [3]. Financial Projections - Revenue growth is projected at 24.8%, 23.5%, and 22.6% for 2024 to 2026, respectively. Net profit growth is expected to be 47.7%, 41.6%, and 26.9% for the same period. Corresponding EPS is forecasted to be 1.23 yuan, 1.74 yuan, and 2.21 yuan, with PE ratios of 39.0x, 27.6x, and 21.7x [4][8]. - The target price for the stock is set at 60.90 yuan per share, based on a 35x PE valuation for 2025 [4]. Market Performance - The company's stock has shown a relative performance with a 12-month price range of 30.78 to 61.65 yuan, and a market capitalization of approximately 20.07 billion yuan [5][6]. Clinical Pipeline - The company has a robust clinical pipeline with several products in various stages of development, including ongoing clinical trials for Ensat and the CDK4/6 inhibitor Tai Beisi Li, which is expected to be approved next year [2][3]. Summary of Financial Metrics - The company reported a net profit of 145.4 million yuan in 2022, with projections of 348 million yuan for 2023 and 514.1 million yuan for 2024, indicating strong growth potential [8][9]. - The gross profit margin is expected to remain stable, with a projected net profit margin of 16.8% in 2024, increasing to 19.9% by 2026 [8]. Conclusion - The report highlights the company's strong growth trajectory, promising product pipeline, and favorable market conditions, supporting the "Buy-A" investment rating and a positive outlook for future performance [4][5][6].

来源：公司年报、国金证券研究所 2024 年 10 月 28 日，公司发布三季报，2024 年前三季度，公司营收、 归母和扣非净利润分别为 23.45/4.16/3.62 亿元，同比增长 14.73%/ 36.61%/50.12%；3Q24 单季度营收、归母和扣非净利润 8.44/1.92/ 1.45 亿元，同比增长 15.65%/22.95%/-4.88%。业绩符合预期。 肺癌靶向龙头再发力，扣非同比高增 50%；核查通过，贝美纳美国 获批在即。（1）业绩：公司 2024 年前三季度营收与利润继续增长态 势，扣非归母净利润 3.62 亿，同比增长 50.12%。3Q24 单季度扣非 归母净利润同比为-4.88%增速，是 3Q23 高基数所致，环比增速 14.22%。（2）经销提效：年初至报告期末期间费用占营业收入比例 从 73.30%降低到 67.54%，下降 5.76 个百分点。公司加强经销商管 理、信用管理，扩大销量同时积极增加现金回笼。年初至报告期末 经营活动产生的现金流量净额 83,134.07 万元，同比增长 48.46%， 净利润现金含量达 199.73%，销售创现率达 105.46%。（3）出 ...

Financial Performance - Revenue for the third quarter reached RMB 843.88 million, a 15.65% increase year-over-year[4] - Net profit attributable to shareholders was RMB 192.28 million, up 22.95% compared to the same period last year[4] - Net profit attributable to shareholders of the listed company reached 416.23 million yuan, a year-on-year increase of 36.61%[12] - Operating income for the first three quarters of 2024 was 2.34 billion yuan, a year-on-year increase of 14.73%[12] - Total revenue for the current period reached 2,344,643,009.24 RMB, an increase from 2,043,551,452.90 RMB in the previous period[20] - Net profit attributable to the parent company's shareholders was 416,225,901.42 RMB, compared to 304,692,911.78 RMB in the previous period[21] - Basic earnings per share increased to 0.99 RMB from 0.73 RMB in the previous period[21] - Operating profit rose to 438,271,814.06 RMB from 237,023,065.21 RMB[21] Cash Flow and Liquidity - Operating cash flow for the first nine months of 2024 was RMB 831.34 million, a 48.46% increase year-over-year[4] - Net cash flow from operating activities was 831.34 million yuan, a year-on-year increase of 48.46%[13] - Sales of goods and services received cash of 2,472,704,308.44 yuan, an increase compared to the previous period's 2,043,623,012.90 yuan[22] - Total cash inflow from operating activities was 2,548,182,394.10 yuan, up from 2,139,574,472.81 yuan in the previous period[23] - Cash paid for goods and services was 207,021,761.38 yuan, higher than the previous period's 135,644,689.05 yuan[23] - Cash paid to employees increased to 476,325,113.84 yuan from 431,619,614.07 yuan[23] - Net cash flow from operating activities rose to 831,340,738.79 yuan from 559,988,099.54 yuan[23] - Net cash flow from investing activities was -781,682,505.65 yuan, an improvement from -1,238,136,056.96 yuan[23] - Cash received from borrowings decreased to 483,600,000.00 yuan from 1,740,000,000.00 yuan[23] - Net cash flow from financing activities was -200,294,076.80 yuan, compared to 635,249,145.58 yuan in the previous period[23] - Net increase in cash and cash equivalents was -156,655,531.22 yuan, a larger decrease than the previous period's -36,974,324.32 yuan[23] - The company's cash and cash equivalents decreased from 751.99 million yuan to 595.34 million yuan compared to the beginning of the year[17] Assets and Liabilities - Total assets as of the end of the reporting period were RMB 9.36 billion, a 2.31% increase from the end of the previous year[4] - Total assets increased to 9,357,972,069.43 RMB from 9,146,908,395.53 RMB[18] - Total liabilities decreased to 3,631,860,791.36 RMB from 3,795,434,736.73 RMB[18] - Total equity increased to 5,726,111,278.07 RMB from 5,351,473,658.80 RMB[19] - Fixed assets decreased to 500,348,438.58 RMB from 524,363,656.99 RMB[18] - Construction in progress increased to 2,328,571,008.91 RMB from 2,036,585,745.95 RMB[18] - The company's accounts receivable decreased from 286.41 million yuan to 228.30 million yuan compared to the beginning of the year[17] - The company's inventory decreased from 327.50 million yuan to 289.09 million yuan compared to the beginning of the year[17] - The company's long-term equity investments decreased from 375.21 million yuan to 368.82 million yuan compared to the beginning of the year[17] Investments and Financial Assets - The company invested in C4 Therapeutics, Inc., leading to a significant increase in trading financial assets by 40,871.29%[7] - Fair value changes in investments contributed RMB 46.81 million to earnings, driven by the increased value of C4 Therapeutics, Inc. shares[7] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 32,616[9] - Ningbo Kaiming Investment Management Partnership holds 19.13% of the shares, totaling 80,064,000 shares[9] - Zhejiang Jihe Venture Capital Co., Ltd. holds 12.98% of the shares, totaling 54,324,000 shares[9] - Hangzhou Teruixichuang Enterprise Management Partnership holds 6.88% of the shares, totaling 28,797,061 shares[9] - WANG YINXIANG, an overseas individual, holds 3.36% of the shares, totaling 14,075,564 shares[9] - Zhejiang Beicheng Investment Management Partnership holds 2.37% of the shares, totaling 9,924,563 shares[9] - LAV Equity (Hong Kong) Co., Limited holds 2.28% of the shares, totaling 9,540,500 shares[9] - China Construction Bank Corporation - E Fund ChiNext ETF holds 1.70% of the shares, totaling 7,110,899 shares[9] - Hong Kong Securities Clearing Company Ltd. holds 1.14% of the shares, totaling 4,778,680 shares[9] - China Agricultural Bank Co., Ltd. - CSI 500 ETF holds 1.11% of the shares, totaling 4,632,404 shares[9] Expenses and Profitability - The company's weighted average return on equity for the first nine months was 7.64%, up 1.60 percentage points from the previous year[4] - The company's period expenses as a percentage of operating income decreased from 73.30% to 67.54%, a reduction of 5.76 percentage points[12] - Research and development expenses decreased to 384,037,587.90 RMB from 467,939,305.01 RMB in the previous period[20] Regulatory and Operational Updates - The company's subsidiary Xcovery Holdings, Inc. passed FDA's clinical BIMO and CMC PAI inspections with zero defects[13] - The company signed a regional distribution agreement with Wuhan HeYuan Biological Technology Co., Ltd. for the exclusive distribution of OsrHSA[14] - The company's third-quarter report was unaudited[24] Debt and Borrowings - Short-term borrowings decreased by 63.01% due to the repayment of bank loans[7] - Non-current liabilities due within one year increased by 85.04%, mainly due to long-term loans maturing within the year[7] - Cash flow from financing activities decreased by 131.53%, primarily due to reduced bank borrowings[7]

证券代码：300558 证券简称：贝达药业 公告编号：2024-075 贝达药业股份有限公司（以下简称"公司"）今日接到股东宁波凯铭投资管理合伙企业 （有限合伙）（以下简称"凯铭投资"）函告，获悉凯铭投资持有本公司的部分股份发生质 押变动，现将具体情况公告如下： 一、股东股份质押基本情况 1、凯铭投资股份解除质押情况 | 股东 名称 | 是否为控股股东或 第一大股东及其 | 本次解除质押 股份数量 | 占其所 持股份 | 占公司 总股本 | 起始日 | 解除日期 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | | | 一致行动人 | （股） | 比例 | 比例 | | | | | 凯铭投资 | 是 | 4,310,000 | 5.38% | 1.03% | 2023/10/23 | 2024/10/23 | 浙商证券股份有限公司 | | 凯铭投资 | 是 | 890,000 | 1.11% | 0.21% | 2024/1/31 | 2024/10/23 | 浙商证券股份有限公司 | | 凯铭投资 | 是 | 200,000 | 0.25% ...

证券代码：300558 证券简称：贝达药业 公告编号：2024-074 贝达药业股份有限公司 关于股东股份质押变动的公告 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。 贝达药业股份有限公司（以下简称"公司"）今日接到股东宁波凯铭投资管理合伙企业 （有限合伙）（以下简称"凯铭投资"）函告，获悉凯铭投资持有本公司的部分股份发生质 押变动，现将具体情况公告如下： 一、股东股份质押基本情况 二、控股股东及其一致行动人股份质押情况 截至本公告披露日，公司控股股东及其一致行动人累计质押股份数量占其所持公司股份 数量比例为 67.21%，此外： 1、本次股份质押变动不涉及质押融资用于满足上市公司生产经营相关需求； 2、公司控股股东及其一致行动人未来半年内到期的质押股份累计数量为 17,867,051 股， 占其所持股份的 19.64%，占公司总股本的 4.27%，对应融资余额 31,223.20 万元；未来一年 内到期（不包括前述未来半年内到期）的质押股份累计数量 11,405,000 股，占其所持股份的 12.54%，占公司总股本的 2.73%，对应融资余额 18,38 ...