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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2024年度持续督导跟踪报告
2025-04-29 07:42
2024 年度持续督导跟踪报告 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 | 保荐人名称:国泰海通证券股份有限公司 | 被保荐公司简称:兴齐眼药 | | --- | --- | | 保荐代表人姓名:石迪 | 联系电话:021-23187088 | | 保荐代表人姓名:王显 | 联系电话:021-23185968 | 三、公司及股东承诺事项履行情况 | 公司及股东承诺事项 | 是否履行承诺 | 未履行承诺的原因及 | | --- | --- | --- | | | | 解决措施 | | 1.关于同业竞争、关联交易、资金占 | 是 | 不适用 | | 用方面的承诺 | | | | 2.关于股份限售的承诺 | 是 | 不适用 | | 3.关于公司本次发行摊薄即期回报采 | 是 | 不适用 | | 取填补措施的承诺 | | | | 4. 关于股权激励的承诺 | 是 | 不适用 | 四、其他事项 一、保荐工作概述 | 项目 | 工作内容 | | --- | --- | | 1.公司信息披露审阅情况 | | | (1)是否及时审阅公司信息披露文件 | 是 | | (2)未及时审阅公司信息披露文件的次数 | ...
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2024年度持续督导工作现场检查报告
2025-04-29 07:40
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 2024 年度持续督导工作现场检查报告 | 保荐人名称:国泰海通证券股份有限公司 被保荐公司简称:兴齐眼药 | | --- | | (以下简称"国泰海通"或"保荐人") | | 保荐代表人姓名:石迪 联系电话:021-23187088 | | 保荐代表人姓名:王显 联系电话:021-23185968 | | 现场检查人员姓名:石迪 | | 现场检查对应期间:2024 年度 | | 现场检查时间:2025 年 月 日 4 18 | | 一、现场检查事项 现场检查意见 | | (一)公司治理 是 否 不适用 | | 现场检查手段:查阅了上市公司最新章程、三会议事规则及会议材料,取得上市公司董 | | 事、监事、高级管理人员名单及其变化情况,取得上市公司关联方清单,查阅关于公司控 | | 股股东、实际控制人、董事、监事、高级管理人员的信息披露文件,查看上市公司生产经 | | 营场所,对上市公司高级管理人员进行访谈。 | | 1.公司章程和公司治理制度是否完备、合规 √ | | 2.公司章程和股东大会、董事会、监事会规则是否得到有效执行 √ | | 3.股东大会 ...
眼科处方药物龙头业绩大幅增长 兴齐眼药24年度营收、净利齐创新高
Quan Jing Wang· 2025-04-29 05:33
Core Viewpoint - In 2024, Xingqi Eye Medicine (300573.SZ) demonstrated strong growth in the ophthalmic prescription drug sector, achieving significant revenue and profit increases, solidifying its leading position in the industry [1][2]. Financial Performance - The company reported a total revenue of 1.943 billion yuan in 2024, representing a year-on-year increase of 32.42% [2]. - Net profit reached 338 million yuan, up 40.84% year-on-year, with a non-recurring net profit growth of 44.54% to 348 million yuan [2]. - The net cash flow from operating activities was 417 million yuan, reflecting a 31.31% increase [2]. Product Performance - The eye drop segment showed remarkable growth, generating 1.366 billion yuan in revenue, a 106.08% increase, and accounting for 70.3% of total revenue [2]. - Key products driving this growth included low-concentration atropine eye drops (brand name "Mei Ou Pin") and cyclosporine eye drops (II) [2]. Investor Returns - The company proposed a profit distribution plan, intending to distribute a cash dividend of 10 yuan per 10 shares, totaling 175 million yuan, and a capital reserve conversion of 4 shares for every 10 shares held [3]. Production and Quality Management - The company focused on enhancing production and quality management, optimizing resource allocation, and upgrading production facilities to improve efficiency and support smart factory initiatives [4]. - Quality management improvements included passing various regulatory inspections and certifications, indicating a stable and effective quality management system [5]. Research and Development - In 2024, R&D expenses reached 221 million yuan, a 31.90% increase, with the company holding 66 invention patents [6]. - Significant progress was made in R&D, including the approval of clinical trials for new products aimed at treating common eye diseases [6][7]. Future Outlook - For 2025, the company reported a revenue of 536 million yuan in Q1, a 53.24% increase, and a net profit of 146 million yuan, up 319.86% year-on-year [8]. - The company outlined four key operational plans for 2025: production and quality centers, product R&D, marketing, and internal control management, with a focus on unmet clinical needs and innovation [9].
多个“近视药”将获批 或打破一家独大
Nan Fang Du Shi Bao· 2025-04-28 23:15
Core Viewpoint - Shenyang Xingqi Eye Pharmaceutical Co., Ltd. reported significant growth in revenue and net profit for the fiscal year 2024, driven by the exclusive market position of atropine eye drops, although rising sales and R&D expenses have raised concerns [2][3]. Financial Performance - The company achieved a revenue of 1.943 billion yuan in 2024, representing a year-on-year increase of 32.42%, while the net profit excluding non-recurring items reached 348 million yuan, up 44.54% from the previous year [2]. - The revenue from the eye drop segment was 1.366 billion yuan, accounting for 70.3% of total revenue, with a gross margin of 82.18% [3]. Product Development - The atropine eye drops, which received a drug registration certificate in March 2024, are aimed at slowing the progression of myopia in children aged 6 to 12 years [3][4]. - The company currently holds 60 approved ophthalmic drug registrations, with 38 products included in the medical insurance catalog and 6 in the national essential drug list [2]. Expense Analysis - Sales expenses have increased significantly, being three times the R&D expenses, with sales expenses rising from 463 million yuan in 2022 to 705 million yuan in 2024, while R&D expenses grew from 146 million yuan to 221 million yuan during the same period [5]. - Financial expenses also saw a notable increase of 115.66% year-on-year, attributed to rising bank loan interest [5]. Market Competition - The exclusive market position of atropine eye drops may soon be challenged as several listed companies, including Zhaoke Ophthalmology and Hengrui Medicine, are advancing their own products in this category [4].
兴齐眼药(300573) - 2025 Q1 - 季度财报
2025-04-28 08:35
Financial Performance - The company's revenue for Q1 2025 reached ¥536,140,697.03, representing a 53.24% increase compared to ¥349,876,258.51 in the same period last year[4] - Net profit attributable to shareholders surged to ¥145,895,323.80, marking a 319.86% increase from ¥34,748,964.87 year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥136,016,935.16, up 285.96% from ¥35,240,962.27 in the previous year[4] - Basic and diluted earnings per share rose to ¥0.83, a 315.00% increase from ¥0.28 in the previous year[4] - Operating profit surged to ¥178,145,643.57, up 276.5% from ¥47,251,127.99 in the prior period[23] - Net profit for the current period was ¥145,895,323.80, representing a 320.5% increase from ¥34,748,964.87 in the previous period[24] Cash Flow and Assets - Operating cash flow net amount increased by 128.46% to ¥190,621,929.88, compared to ¥83,437,890.69 in the same period last year[11] - Cash flow from operating activities generated a net inflow of ¥190,621,929.88, up from ¥83,437,890.69 in the previous period[26] - The company reported a cash and cash equivalents balance of ¥497,873,804.05 at the end of the period, down from ¥567,852,344.79 at the end of the previous period[26] - The company's cash and cash equivalents increased to CNY 505,157,872.57 from CNY 370,121,251.48, representing a growth of about 36.3%[18] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,296,666,978.89, an 8.15% increase from ¥2,123,503,158.46 at the end of the previous year[4] - The total current liabilities rose to CNY 481,344,705.37 from CNY 461,483,344.51, indicating an increase of approximately 4.0%[19] - The company's total equity increased to CNY 1,743,262,336.73 from CNY 1,593,168,346.52, showing a growth of around 9.43%[20] - The inventory balance as of March 31, 2025, was CNY 166,084,418.58, up from CNY 153,598,936.63, marking an increase of about 8.0%[18] - The company reported a decrease in accounts receivable from CNY 241,589,286.42 to CNY 238,364,258.79, a decline of approximately 1.0%[18] - The company reported a significant increase in accounts payable, which rose by 30.13% to ¥23,067,986.06, attributed to increased procurement[9] Research and Development - The company has made progress in drug development, with the drug Voriconazole eye drops achieving Phase I clinical research[16] - The company received a drug registration certificate for Tafluprost eye drops, indicating successful regulatory progress[16] - Research and development expenses increased to ¥47,072,206.09, up 23.5% from ¥38,068,318.45 in the prior period[23] Tax and Expenses - The company incurred tax expenses of ¥31,638,569.37, compared to ¥6,906,991.12 in the previous period, reflecting a significant increase[23] - Total operating costs rose to ¥367,431,795.47, an increase of 17.3% from ¥313,254,777.41 in the previous period[22] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 42,629[12] Government Support - The company received government subsidies amounting to ¥12,203,639.44, contributing to its non-recurring gains[5]
兴齐眼药年报解读:“近视神药”上市首年,公司营收不及券商预期
Mei Ri Jing Ji Xin Wen· 2025-04-22 09:15
Core Viewpoint - The approval and market introduction of atropine sulfate eye drops, known as a "myopia miracle drug," have significantly impacted the performance of Xingqi Eye Medicine, with notable revenue and profit growth in 2024 [1][2]. Financial Performance - In 2024, the company achieved revenue of 1.943 billion yuan, a year-on-year increase of 32.42% [1] - The net profit attributable to shareholders reached 338 million yuan, reflecting a year-on-year growth of 40.84% [1] - The eye drop segment's revenue grew by 106.08%, with production and sales volumes both increasing by 30% [1][2] Product Development and Market Position - The company has a total of 60 approved ophthalmic drug numbers, including two "first-in-class" drugs [1] - The "Meioupin" atropine sulfate eye drops (0.01% concentration) have been a significant driver of revenue growth, with the eye drop segment's gross margin increasing by 2.93 percentage points [2] - The company has three atropine sulfate eye drops in different concentrations, targeting various patient needs [3] Inventory and Sales Dynamics - The company reported a nearly 80% increase in inventory, indicating potential overstock issues [2] - Sales expenses rose by 31.79% to 705 million yuan, with the sales team expanding from 900 to 1,197 personnel [2] Competitive Landscape - The market for atropine sulfate eye drops is becoming increasingly competitive, with several companies, including Zhaoke Ophthalmology and Hengrui Medicine, also entering the market [3] - The company is diversifying its product lines to include treatments for retinal diseases and fungal keratitis, currently in early clinical stages [3] Shareholder Activity - Two social security funds significantly reduced their holdings in the company during the fourth quarter of the previous year, indicating a shift in investor sentiment [4]
兴齐眼药(300573):2024年业绩高增长,期待核心产品快速放量
Guotou Securities· 2025-04-21 14:14
Investment Rating - The report assigns a "Buy-A" investment rating to the company, with a 6-month target price of 98.00 CNY per share [5][7]. Core Insights - The company achieved significant growth in 2024, with revenue reaching 1.943 billion CNY, a year-on-year increase of 32.42%, and a net profit of 348 million CNY, up 44.54% year-on-year [2][3]. - The growth is attributed to the strong sales of core products, particularly the low-concentration atropine eye drops, which were approved in March 2024 and are expected to have a large market due to the rising incidence of myopia among youth [4]. - The company has a comprehensive pipeline of ophthalmic products, covering various categories including myopia control, dry eye treatment, and anti-infection medications, which positions it well for future growth [4]. Financial Performance Summary - In 2024, the company reported revenues of 1.943 billion CNY, with the following breakdown: eye drops (1.366 billion CNY, +106.08%), gel/ointment (363 million CNY, -2.88%), medical services (133 million CNY, -62.13%), and solution (62 million CNY, +19.16%) [3]. - The projected net profits for 2025, 2026, and 2027 are estimated at 687 million CNY, 900 million CNY, and 1.137 billion CNY, representing growth rates of 103.2%, 31.0%, and 26.3% respectively [5][12]. - The expected earnings per share (EPS) for 2025 is 3.92 CNY, with a price-to-earnings (PE) ratio of 25 times [5][12].
10派5后再出手 兴齐眼药2024年期末拟10派10元并转增4股
Zheng Quan Ri Bao Wang· 2025-04-21 12:14
Group 1 - The company plans to distribute a cash dividend of 10 yuan per 10 shares and a capital reserve conversion of 4 shares for every 10 shares at the end of 2024, totaling a dividend payout of 175 million yuan [1] - The total dividend distribution for 2024, including the mid-year payout of 87.21 million yuan, amounts to 262 million yuan, representing 77.64% of the net profit attributable to shareholders [1] - The company has conducted a total of 9 year-end dividends and 4 mid-year dividends since its listing in 2016, with a cumulative dividend amount of 999.5 million yuan and an average dividend rate of 81.82% [5] Group 2 - The company specializes in the field of ophthalmic drugs, with 60 approved ophthalmic drug numbers, of which 38 are included in the medical insurance catalog and 6 in the national essential drug catalog [4] - In 2024, the company achieved significant growth, with operating revenue of 1.943 billion yuan, a year-on-year increase of 32.42%, and a net profit of 338 million yuan, a year-on-year increase of 40.84% [4] - The company’s net cash flow from operating activities reached 417 million yuan, reflecting a year-on-year growth of 31.31% [4]
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2024年度内部控制评价报告的核查意见
2025-04-21 09:19
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 2024 年度内部控制评价报告的核查意见 国泰海通证券股份有限公司(以下简称"国泰海通"或"保荐机构")作为 沈阳兴齐眼药股份有限公司(以下简称"兴齐眼药"或"公司")向特定对象发 行股票的持续督导保荐机构,根据《证券发行上市保荐业务管理办法》《深圳证 券交易所上市公司自律监管指引第 13 号——保荐业务》《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》《企业内部控制基本规范》 等法律、法规和规范性文件的要求,对《沈阳兴齐眼药股份有限公司董事会关于 公司内部控制的自我评价报告》进行了核查,具体情况如下: 一、内部控制评价范围 公司按照风险导向原则确定纳入评价范围的单位、业务和事项以及高风险领 域。 纳入评价范围的单位包括:母公司及子公司沈阳兴齐眼科医院有限公司,纳 入评价范围单位资产总额占公司合并财务报表资产总额的 98.59%,营业收入合计 占公司合并财务报表营业收入总额的 99.40%。 纳入评价范围的主要业务和事项包括: (一)决策管理 公司设置董事会战略委员会,主要负责对公司长期发展战略和重大投资决策 进行研究并提出建 ...
兴齐眼药(300573) - 2024年度内部控制审计报告
2025-04-21 09:19
内部控制审计报告 二○二四年度 沈阳兴齐眼药股份有限公司 内部控制审计报告 信会师报字[2025]第 ZA10685 号 沈阳兴齐眼药股份有限公司全体股东: 按照《企业内部控制审计指引》及中国注册会计师执业准则的相 关要求,我们审计了沈阳兴齐眼药股份有限公司(以下简称"兴齐眼 药")2024 年 12 月 31 日的财务报告内部控制的有效性。 一、 企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企 业内部控制评价指引》的规定,建立健全和有效实施内部控制,并评 价其有效性是兴齐眼药董事会的责任。 四、 财务报告内部控制审计意见 我们认为,兴齐眼药于 2024 年 12 月 31 日按照《企业内部控制 基本规范》和相关规定在所有重大方面保持了有效的财务报告内部控 制。 立信会计师事务所 中国注册会计师: (特殊普通合伙) 中国注册会计师: 二、 注册会计师的责任 我们的责任是在实施审计工作的基础上,对财务报告内部控制的 有效性发表审计意见,并对注意到的非财务报告内部控制的重大缺陷 进行披露。 三、 内部控制的固有局限性 内部控制具有固有局限性,存在不能防止和发现错报的可能性。 此 ...