SHENYANG XINGQI PHARMACEUTICAL CO.(300573)

Search documents
兴齐眼药(300573) - 2024年度股东大会决议公告
2025-05-13 09:06
证券代码:300573 证券简称:兴齐眼药 公告编号:2025-018 沈阳兴齐眼药股份有限公司 2024 年度股东大会决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整,没有虚 假记载、误导性陈述或重大遗漏。 特别提示: 1、本次股东大会未出现否决议案的情形; 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 1、会议召开方式:本次会议以现场投票与网络投票相结合的方式召开。 2、现场会议时间:2025年5月13日(星期二)下午14:30。 3、网络投票时间:2025年5月13日,其中,通过深圳证券交易所交易系统进 行网络投票的具体时间为2025年5月13日9:15—9:25,9:30—11:30和13:00— 15:00;通过深圳证券交易所互联网投票系统进行网络投票的时间为2025年5月13 日9:15至15:00期间的任意时间。 4、现场会议召开地点:沈阳市浑南区泗水街68号,沈阳兴齐眼药股份有限 公司E1号楼,二楼多功能厅。 5、会议召集人:2025年4月22日,公司董事会以公告方式向全体股东发出2024 年度股东大会的会议通知。 6、会议主持人:公司董事长刘 ...
兴齐眼药滴眼剂收入翻倍仍低于预期,“唯一性”将被打破
Xin Lang Cai Jing· 2025-05-08 02:34
Core Viewpoint - Xingqi Eye Pharmaceutical (300573.SZ) reported impressive financial results for 2024 and Q1 2025, particularly with the low-concentration atropine product, which has become a key revenue driver, accounting for over 10% of total revenue. However, the performance of atropine in 2024 fell short of broker expectations, raising questions about the sustainability of the company's leading position as competitors enter the market [1][2][11]. Financial Performance - In 2024, the company achieved a revenue of 1.943 billion yuan, representing a year-on-year growth of 32.42%, with a net profit of 338 million yuan, up 40.84% year-on-year. For Q1 2025, revenue reached 536 million yuan, a significant increase of 53.24%, and net profit soared by 319.86% to 146 million yuan [1][2][11]. - The company's distribution plan for 2024 includes a 10-for-4 stock split and a cash dividend of 10 yuan [1]. Product Overview - Xingqi Eye Pharmaceutical specializes in ophthalmic drugs, with a portfolio of 60 approved ophthalmic products, 38 of which are included in the medical insurance directory, and 6 in the national essential drug list [2][3]. - The company's eye drops segment saw a revenue increase of 106.08% in 2024, with key products including Cyclosporine Eye Drops and Sulfate Atropine Eye Drops, both contributing significantly to revenue [6][11]. Market Dynamics - The demand for eye drops is evident, particularly among children and adolescents, with a near 52% myopia rate reported among Chinese youth [6]. The low-concentration atropine eye drops, approved in March 2024, are expected to reshape the ophthalmic drug market, with a projected peak sales of 10.18 billion yuan by 2027 [10][11]. - The company has established a comprehensive sales network, collaborating with numerous private and public healthcare institutions, and is actively expanding its presence in e-commerce and internet healthcare [12][13]. Competitive Landscape - The uniqueness of Xingqi's atropine product is threatened as other companies, including Heng Rui Pharmaceutical and Zhaoke Ophthalmology, are entering the market with similar products [14][22]. Heng Rui's product is expected to be launched by 2027, indicating increasing competition [18]. - The competitive landscape is evolving, with multiple companies pursuing the development of atropine eye drops, which may impact Xingqi's market share and pricing power in the future [23].
兴齐眼药(300573):一季度利润增长显著 费用管理卓有成效
Xin Lang Cai Jing· 2025-05-01 06:50
Core Viewpoint - The company has shown significant growth in revenue and net profit in both 2024 and Q1 2025, driven by successful product launches and a strong pipeline in the ophthalmic drug sector [1][2][3]. Financial Performance - In 2024, the company achieved revenue of 1.943 billion yuan, a year-on-year increase of 32.42%, and a net profit of 338 million yuan, up 40.84% [1]. - For Q1 2025, the company reported revenue of 536 million yuan, representing a 53.24% year-on-year growth, and a net profit of 146 million yuan, which surged by 319.86% [2]. - The overall gross margin improved to 78.33% in 2024, with a further increase to 80.16% in Q1 2025 [3]. Cost Management - The company reduced its total expense ratio to 56.47% in 2024, down by 1.51 percentage points, and further decreased it to 47.26% in Q1 2025, a drop of 17.21 percentage points [3]. - Sales expense ratio decreased to 36.30% in 2024 and further to 31.34% in Q1 2025 [3]. Product Development and Market Position - The company’s product "Meioupin" is the first low-concentration atropine eye drops approved in China for delaying myopia progression in children, included in multiple clinical guidelines [4]. - The company is advancing its pipeline with several products in various stages of clinical trials, including drugs for dry eye syndrome and other ophthalmic conditions [5]. Investment Outlook - The company is projected to achieve revenues of 3.03 billion yuan, 4.04 billion yuan, and 5.07 billion yuan for 2025 to 2027, with respective year-on-year growth rates of 55.9%, 33.2%, and 25.6% [6]. - Net profit forecasts for the same period are 600 million yuan, 820 million yuan, and 1.05 billion yuan, with growth rates of 78.7%, 36.1%, and 28.1% respectively [6].
兴齐眼药(300573):公司信息更新报告:业绩高速增长,2025年低浓度阿托品有望快速放量
KAIYUAN SECURITIES· 2025-04-30 07:25
医药生物/化学制药 兴齐眼药(300573.SZ) 业绩高速增长,2025 年低浓度阿托品有望快速放量 2025 年 04 月 30 日 投资评级:买入(维持) | 日期 | 2025/4/29 | | --- | --- | | 当前股价(元) | 82.19 | | 一年最高最低(元) | 299.99/64.88 | | 总市值(亿元) | 144.04 | | 流通市值(亿元) | 110.63 | | 总股本(亿股) | 1.75 | | 流通股本(亿股) | 1.35 | | 近 3 个月换手率(%) | 307.11 | 股价走势图 数据来源:聚源 -100% -50% 0% 50% 2024-04 2024-08 2024-12 兴齐眼药 沪深300 相关研究报告 财务摘要和估值指标 | 指标 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业收入(百万元) | 1,468 | 1,943 | 2,948 | 4,526 | 7,106 | | YOY(%) | 17.4 | ...
兴齐眼药20250429
2025-04-30 02:08
场需求,后续将根据市场需求变化提前布局,扩充产能,以充分满足市场 需求。 • 公司构建线上线下全渠道销售网络,覆盖民营连锁机构、公立医院、电商 及互联网医疗平台。截至 2024 年第四季度,推出每盒 40 支的新包装规 格,已与超过 200 家连锁药店达成合作,铺货超过 12,000 家。2025 年 目标是超过 2,000 万人知晓该治疗方案,并且有超过百万级数量的儿童能 够及时接受规范、合理用药。 • 公司在 2024 年 7 月申报的 SQ22,031 滴眼液获得临床试验批准通知书, 适应症为干眼症和神经营养性角膜炎。0.02%和 0.04%浓度硫酸阿托品滴 眼液的三期临床试验结果显示,在主要疗效指标上均优于安慰剂组,并且 安全性良好,患者依从性高,目前正在药品审评中心审评过程中。 • 公司将继续围绕战略目标深化管理,管控成本,优化费用结构,以提升运 营效率和盈利水平。公司预计在销售规模增长的前提下,毛利率水平将保 持相对稳定。展望 2025 年,公司将继续围绕战略目标深化管理,管控成 本,优化费用结构,以提升运营效率和盈利水平,期待在 2025 年保持两 位数以上的增长。 Q&A 请介绍一下兴齐眼药 ...
兴齐眼药:创新驱动,铸就业绩与ESG卓越典范
Zheng Quan Shi Bao Wang· 2025-04-30 00:23
Core Viewpoint - Xingqi Eye Pharmaceutical achieved significant growth in both performance and ESG (Environmental, Social, and Governance) metrics in 2024, with a strong start in 2025, driven by product development and market expansion [1][2]. Financial Performance - In 2024, the company reported revenue of 1.943 billion yuan, a year-on-year increase of 32.42%, marking the highest revenue since its listing; net profit reached 338 million yuan, up 40.84% year-on-year, also a record high [2]. - The eye drop segment generated 1.366 billion yuan in revenue in 2024, a remarkable growth of 106.08%, accounting for over 70% of total revenue, primarily due to the rapid sales of low-concentration atropine eye drops [2]. - In Q1 2025, the company achieved revenue of 536 million yuan, a year-on-year increase of 53.24%, and net profit of 146 million yuan, up 319.86% year-on-year, both setting new records since its listing [3]. Product Development and Market Strategy - The company focuses on various eye care products, including those for myopia control and dry eye treatment, with a 2024 R&D investment of 235 million yuan, a 29.55% increase from the previous year [2]. - The low-concentration atropine eye drops, approved in March 2024, are expected to have significant sales potential due to their effectiveness in slowing myopia progression among youth [3]. ESG Performance - Xingqi Eye Pharmaceutical has been recognized for its strong ESG performance, achieving A-level ratings in multiple assessments, reflecting its commitment to environmental protection, social responsibility, and corporate governance [5]. - In 2024, the company reduced its carbon emissions per unit of revenue by 17.77% and increased the proportion of clean energy usage from 6% to approximately 30% [5][6]. - The company invested 15.96 million yuan in public welfare in 2024, a 37.33% increase, and conducted 271 public welfare activities, serving over 208,800 individuals [8]. Future Outlook - For 2025, the company plans to continue increasing R&D investments, focusing on niche areas in ophthalmology and enhancing its product line, particularly in biologics for retinal diseases [4]. - The company aims to strengthen its production management and optimize processes across various dimensions to ensure high-quality development [4].
兴齐眼药(300573) - 2025年4月29日兴齐眼药投资者关系活动记录表(2)
2025-04-29 11:36
Performance Overview - In 2024, the company achieved revenue of CNY 1.943 billion, a year-on-year increase of 32.42% [2] - The total profit for 2024 was CNY 395 million, up 49.07% from the previous year [2] - The net profit attributable to shareholders was CNY 338 million, reflecting a growth of 40.84% [3] - In Q1 2025, revenue reached CNY 536 million, a 53.24% increase year-on-year [3] - The total profit for Q1 2025 was CNY 178 million, showing a remarkable growth of 277.02% [3] - The net profit attributable to shareholders in Q1 2025 was CNY 146 million, up 319.86% [3] Dividend Policy - The proposed dividend for 2024 is CNY 10 per 10 shares, with a bonus issue of 4 shares for every 10 shares held [3] Product and Market Strategy - The company focuses on self-research and development, enhancing core competitive advantages, and optimizing customer structure [2] - The product "Meioupin®" (0.01% atropine sulfate eye drops) accounted for over 10% of the company's main business revenue in 2024 [4] - The company has established a comprehensive sales network covering both online and offline channels, enhancing accessibility for consumers [5] - Collaborations with over 200 chain pharmacies and more than 12,000 outlets have been established to meet diverse patient needs [5] Market Potential and Growth - The overall myopia rate among children and adolescents in China is 52.7%, with significant market potential for myopia prevention products [10] - The company aims to raise awareness of the treatment plan to over 20 million people and ensure over 1 million children receive proper medication [10] - The company plans to maintain a double-digit growth rate in 2025, with a focus on optimizing cost control and improving operational efficiency [12] Sales and Distribution Channels - The company has entered over 4,000 public and private medical institutions, with plans for further expansion [11] - The sales strategy includes a full-channel marketing approach, integrating hospitals, pharmacies, and e-commerce platforms [9] - In 2024, offline channels accounted for over 50% of atropine sales [9] Future Outlook - The company anticipates stable growth in net profit margins, projecting a net profit margin of 25%-30% as atropine sales increase [16] - Continuous investment in R&D for innovative ophthalmic drugs is planned to enhance competitive advantage [17] - The company is preparing for potential overseas market expansion, leveraging its differentiated product pipeline [16]
兴齐眼药:多方面驱动因素支持盈利增长 产品创新与研发是核心驱动力
Zheng Quan Shi Bao Wang· 2025-04-29 10:26
Core Viewpoint - The company, Xingqi Eye Pharmaceutical, reported strong financial performance for 2024, with significant growth in revenue and net profit, driven by product innovation and effective marketing strategies [1][4]. Financial Performance - In 2024, the company achieved operating revenue of 1.943 billion yuan, a year-on-year increase of 32.42% - Net profit reached 338 million yuan, up 40.84% year-on-year - The non-deductible net profit was 348 million yuan, reflecting a growth of 44.54% - Basic earnings per share were 1.94 yuan, with a distribution plan of 4 shares for every 10 shares and a cash dividend of 10 yuan (tax included) [1]. Research and Development - The company has consistently prioritized R&D, with investments of 190 million yuan, 181 million yuan, and 235 million yuan over the past three years, representing 15.22%, 12.38%, and 12.11% of operating revenue respectively - Plans to enhance R&D efforts include expanding the product line in the ophthalmology sector and strengthening the biopharmaceutical layout for retinal diseases [2][3]. - Currently, the company holds 60 approved ophthalmic drug licenses, with 38 products included in the medical insurance directory and 6 in the national essential drug list [2]. Market Strategy - The ophthalmology industry is experiencing growth in market size, technological innovation, and competition, while facing challenges from policy changes - The company emphasizes talent development and has established a comprehensive marketing support system to enhance the professional capabilities of its marketing team [3]. - A customer-centric and academically driven marketing management model has been adopted, supported by a multi-tiered marketing network and partnerships with major distributors across the country [3]. Growth Drivers - Key drivers of the company's profit growth include product innovation and R&D, market expansion and marketing efforts, cost control, and operational efficiency improvements - The company aims to implement a comprehensive development strategy focused on sustainable profit growth, guided by principles of innovation, quality, and shared growth [4].
兴齐眼药(300573) - 2025年4月29日兴齐眼药投资者关系活动记录表(1)
2025-04-29 09:26
Group 1: Company Performance - In 2024, the company achieved a revenue of CNY 1.943 billion, representing a year-on-year growth of 32.42% [4] - The total profit reached CNY 395 million, with a year-on-year increase of 49.07% [4] - The compound annual growth rate (CAGR) of revenue over the past three years is 24.70% [4] Group 2: Marketing and Sales Strategy - The company emphasizes building a stable marketing team while attracting external talent to enhance its marketing capabilities [3] - A multi-tiered marketing network has been established, covering all provinces and regions in China [3] - The marketing strategy focuses on academic promotion through meetings and seminars to disseminate product information [3] Group 3: Product Portfolio - The company specializes in ophthalmic drugs, with a product range that includes treatments for myopia, dry eye, infections, and glaucoma [6] - Currently, the company holds 60 approved ophthalmic drug licenses, with 38 products included in the medical insurance directory [6] - Key products contributing over 10% of revenue include Cyclosporine Eye Drops and Atropine Sulfate Eye Drops [6] Group 4: Research and Development - R&D investments over the past three years were CNY 190 million, CNY 181 million, and CNY 235 million, accounting for 15.22%, 12.38%, and 12.11% of revenue respectively [10] - Future R&D plans include expanding the product line in the ophthalmic sector and focusing on biologics for retinal diseases [10] Group 5: ESG Initiatives - The company aims to integrate ESG principles into its strategic planning and operations, focusing on green and low-carbon development [8] - Achievements include being recognized as a "National Green Factory" and implementing measures to reduce energy consumption and waste [9] - The company plans to enhance transparency in ESG reporting and stakeholder communication [8]
兴齐眼药(300573) - 国泰海通证券股份有限公司关于沈阳兴齐眼药股份有限公司向特定对象发行股票并上市之保荐总结报告书
2025-04-29 07:42
国泰海通证券股份有限公司关于沈阳兴齐眼药股份有限公司 向特定对象发行股票并上市之保荐总结报告书 | 保荐机构名称: | 国泰海通证券股份有限公司 | | --- | --- | | 保荐机构编号: | Z29131000 | 经中国证券监督管理委员会《关于同意沈阳兴齐眼药股份有限公司向特定对象 发行股票注册的批复》(证监许可[2021]1343 号)批复,沈阳兴齐眼药股份有限公 司(以下简称"上市公司"、"公司"或"发行人")向特定对象发行股票 5,763,282 股,每股面值人民币 1 元,每股发行价格人民币 104.05 元/股,募集资金总额为人民 币 599,669,492.10 元,扣除发行费用后,实际募集资金净额为人民币 580,179,086.77 元。本次发行证券已于 2022 年 1 月 18 日在深圳证券交易所创业板上市。原海通证 券股份有限公司担任其持续督导保荐机构,持续督导期间为 2022 年 1 月 18 日至 2024 年 12 月 31 日。鉴于原国泰君安证券股份有限公司换股吸收合并原海通证券股 份有限公司事项已获得中国证券监督管理委员会核准批复,本次合并交易已于 2025 年 3 ...