Investment Rating - The report maintains a "Buy" rating for the company with a target price of 26.60 RMB [1][3] Core Views - The company's performance met expectations, with notable profitability after excluding equity incentive expenses In H1 2024, the company achieved revenue of 540 million RMB, a YoY increase of 18.4%, and net profit attributable to shareholders of 140 million RMB, a YoY increase of 13.5% Excluding equity incentive expenses, the net profit attributable to shareholders was 160 million RMB, a YoY increase of 26.8% [1] - Domestic sales revenue reached 410 million RMB, a YoY increase of 16.0%, while international sales and pharmaceutical business revenue reached 130 million RMB, a YoY increase of 26.5% [1] - The company's R&D efforts are efficient, with over 15% of revenue consistently invested in R&D The company has developed and obtained approval for 27 tumor gene detection products in China, and new products such as the real-time fluorescence quantitative PCR analyzer were approved in June 2024 [1] - The company has established partnerships with Boehringer Ingelheim and Servier to develop companion diagnostic products, expanding its innovative business areas [1] - Gross margin improved to 85.2% in H1 2024, a YoY increase of 1.5 percentage points, while sales and R&D expense ratios decreased to 29.5% and 19.6%, respectively [1] Financial Performance and Forecast - Revenue for 2024 is forecasted to be 1,279 million RMB, with a YoY growth of 22.6% Net profit attributable to shareholders is expected to reach 303 million RMB, a YoY increase of 15.9% [2] - Gross margin is projected to remain stable at 86.0% from 2024 to 2026, with net profit margins of 23.7%, 25.1%, and 24.6% for the respective years [2] - The company's ROE is expected to improve from 16.4% in 2024 to 18.0% in 2026 [2] Valuation and Peer Comparison - The company's 2024 PE ratio is estimated at 24.9, with a target price of 26.60 RMB based on a 35x PE multiple [1][3] - Compared to peers, the company's valuation is in line with industry averages, with adjusted average PE ratios of 35 for 2024 and 25 for 2025 [5] Business Segments - Detection reagent revenue accounted for 450 million RMB, a YoY increase of 16.8%, while detection service revenue declined by 28.0% to 30 million RMB Drug clinical research service revenue surged by 136.1% to 60 million RMB [1] Growth and Profitability - The company's revenue growth is expected to remain strong, with projected YoY growth rates of 22.6%, 21.0%, and 21.4% for 2024, 2025, and 2026, respectively [2] - Operating profit is forecasted to grow by 11.8% in 2024, 28.4% in 2025, and 19.0% in 2026 [2]

厦门艾德生物医药科技股份有限公司（以下简称"公司"或"艾德生物"） 于2024年2月26日召开2024年第一次临时股东大会，审议通过了《关于以集中竞 价交易方式回购公司股份的议案》。根据本次回购方案，公司拟使用自有资金以 集中竞价方式回购股份用于注销并减少公司注册资本；回购资金总额为不低于人 民币10,000万元且不超过人民币20,000万元，具体回购资金金额以回购实施完成 时实际回购的金额为准；回购股份的实施期限为自公司股东大会审议通过本次回 购方案之日起12个月内。具体内容详见公司于2024年2月26日刊登在巨潮资讯网 的《回购报告书》。 根据《深圳证券交易所上市公司自律监管指引第 9 号—回购股份》等相关规 定，现将公司回购股份的进展情况公告如下： 证券代码：300685 证券简称：艾德生物 公告编号：2024-058 厦门艾德生物医药科技股份有限公司 关于回购股份进展的公告 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。 （1）委托价格不得为公司股票当日交易涨幅限制的价格； （2）不得在深圳证券交易所开盘集合竞价、收盘集合竞价及股票价格无涨 跌幅限制的 ...

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 17.77 yuan [3][5] Core Viewpoints - The company, as a leading player in the domestic tumor companion diagnostics industry, continues to show strong growth in performance driven by innovation and partnerships [3] - The company's R&D investment has increased significantly, with a 15.62% YoY growth in H1 2024, accounting for 19.56% of total revenue [2] - The company has expanded its strategic partnerships, including collaborations with Boehringer Ingelheim and Servier, to advance innovation in companion diagnostics [13] Financial Performance - Revenue for H1 2024 reached 543 million yuan, up 18.38% YoY, with domestic revenue at 413 million yuan (up 16.02% YoY) and international revenue at 130 million yuan (up 26.51% YoY) [12] - Net profit attributable to shareholders in H1 2024 was 144 million yuan, up 13.49% YoY, while adjusted net profit grew 20.72% YoY [12] - Revenue from drug clinical research services surged 136.07% YoY, contributing significantly to overall growth [12] R&D and Innovation - The company's R&D investment in H1 2024 was 106.212 million yuan, up 15.62% YoY, with 27 Class III medical device registrations and 65 patents (59 invention patents and 6 utility model patents) [2] - A real-time fluorescent quantitative PCR analyzer obtained Class III medical device registration in June 2024, enhancing the company's tumor precision detection solutions [2] Valuation and Forecast - The report forecasts net profit attributable to shareholders for 2024-2026 at 315 million yuan, 379 million yuan, and 454 million yuan, respectively, with corresponding P/E ratios of 22x, 19x, and 16x [3] - Revenue is expected to grow steadily, with projected revenue for 2024-2026 at 1.519 billion yuan, 1.835 billion yuan, and 2.166 billion yuan, respectively [4] - EPS is forecasted to increase from 0.79 yuan in 2024 to 1.14 yuan in 2026 [4] Strategic Partnerships - In May 2024, the company signed a new companion diagnostics collaboration with Boehringer Ingelheim to identify non-small cell lung cancer patients likely to benefit from targeted therapy [13] - In June 2024, the company announced a strategic partnership with Servier to develop a companion diagnostic reagent for detecting IDH1 and IDH2 gene mutations [13]

Summary of Conference Call Company Overview - The company discussed is Aide Biotechnology, recognized as a leading player in the domestic companion diagnostics sector. [1] Core Points and Arguments - Aide Biotechnology has a comprehensive product line that caters to the growing demand for companion diagnostics in China. [1] - The company is expected to experience long-term growth due to the continuous increase in domestic demand and the expansion of its overseas market. [1] Additional Important Content - The presentation included an introduction to the performance forecast for the first half of 2024, indicating a positive outlook for the company's future development. [1]

公司点评报告 ·医药行业 2024年7月30日 请务必阅读正文最后的中国银河证券股份有限公司免责声明 公司点评报告 · 医药行业 公司点评报告 · 医药行业 核心观点 www.chinastock.com.cn 河证券|CGS 请务必阅读正文最后的中国银河证券股份有限公司免责声明。 E券|CGS 臂业收入 营业利润 归属母公司净利润 毛利率 净利率 ROE ROIC 资产负债率 净负债比率 流动比率 速动比率 应收账款周转率 应付账款周转率 每股收益 每股净资产 P/E P/B EV/EBITDA P/S 2023A 2024E 2025E 2026E 23.91% 22.58% 21.84% 20.18% 4.72% 22.13% 22.60% 20.74% -0.86% 24.44% 22.67% 20.54% 83.97% 84.00% 85.38% 85.27% 25.06% 25.44% 25.69% 25.61% 15.35% 16.78% 17.07% 17.07% 14.71% 15.25% 15.54% 15.53% 11.97% 10.22% 9.04% 8.31% -29.13% -34 ...

24H1 业绩符合预期，院内业务稳健增长 2024 年中报业绩点评 2024年7月30日 www.chinastock.com.cn 请务必阅读正文最后的中国银河证券股份有限公司免责声明 公司点评报告 · 医药行业 请务必阅读正文最后的中国银河证券股份有限公司免责声明。 正券|CGS 主要财务比率 臂业收入 营业利润 归属母公司净利润 毛利率 降利率 ROE ROIC 资产负债率 净负债比率 流动比率 速动比率 总资产周转率 应收账款周转率 应付账款周转率 每股收益 每股经营现金 每股净资产 P/E P/B EV/EBITDA P/S 请务必阅读正文最后的中国银河证券股份有限公司免责声明。 公司点评报告 · 医药行业 本报告由中国银河证券股份有限公司（以下简称银河证券）向其客户提供。银河证券无需因接收人收到本报告而视其为客户。 若悠并非银河证券客户中的专业投资者,为保证服务质量、控制投资风险、应首先联系银河证券机构销售部门或客户经理、完成投 资者适当性匹配,并充分了解该项服务的性质、特点、使用的注意事项以及若不当使用可能带来的风险或损失。 本报告所载的全部内容只提供给客户做参考之用，并不构成对客户的投资咨询建 ...

Investment Rating - The report maintains a "Buy" rating for the company [3][14]. Core Views - The company achieved steady growth in domestic markets while experiencing rapid growth in overseas markets and pharmaceutical business [14]. - The performance in Q2 met expectations, with a revenue of 543 million yuan (+18.38%) and a net profit of 144 million yuan (+13.49%) for H1 2024 [14]. - The company continues to enhance its market share in hospitals through compliance products and is developing LDT products in response to market needs [14]. Financial Summary - For H1 2024, the company reported: - Revenue from testing reagents: 448 million yuan (+16.75%), with a gross margin of 90.89% (+0.35 percentage points) - Revenue from testing services: 32 million yuan (-28.01%), with a gross margin of 51.46% (+8.51 percentage points) [14]. - The company’s revenue forecast for 2024-2026 is 1.275 billion yuan, 1.552 billion yuan, and 1.886 billion yuan respectively, with expected growth rates of 22.2%, 21.7%, and 21.5% [15]. - The net profit forecast for 2024-2026 is 291 million yuan, 380 million yuan, and 493 million yuan respectively, with growth rates of 11.3%, 30.8%, and 29.5% [15]. Market Expansion - The international market and pharmaceutical business revenue reached 130 million yuan (+26.51%), with successful establishment of subsidiaries in Singapore and Canada, and a logistics center in the Netherlands [14]. - The company is actively participating in clinical trials for several well-known pharmaceutical companies, which is expected to drive long-term growth [14]. Research and Development - The company invested 106 million yuan in R&D (+15.62%), accounting for 19.56% of revenue, and has a rich pipeline of new products under development [14]. - New products under registration include various gene testing kits and antibody reagents, which are anticipated to become new growth points upon market launch [14].

提名人厦门艾德生物医药科技股份有限公司董事会现就提名王恩华为 厦门艾德生物医药科技股份有限公司第四届董事会独立董事候选人发表公开 声明。被提名人已书面同意作为厦门艾德生物医药科技股份有限公司第四届 董事会独立董事候选人（参见该独立董事候选人声明）。本次提名是在充分 了解被提名人职业、学历、职称、详细的工作经历、全部兼职、有无重大失 信等不良记录等情况后作出的，本提名人认为被提名人符合相关法律、行政 法规、部门规章、规范性文件和深圳证券交易所业务规则对独立董事候选人 任职资格及独立性的要求，具体声明并承诺如下事项： 一、被提名人已经通过厦门艾德生物医药科技股份有限公司第三届董事 会提名委员会或者独立董事专门会议资格审查，提名人与被提名人不存在利 害关系或者其他可能影响独立履职情形的密切关系。 √是 □否 如否，请详细说明：______________________________ 二、被提名人不存在《中华人民共和国公司法》第一百四十六条等规定 不得担任公司董事的情形。 证券代码：300685 证券简称：艾德生物 公告编号：2024-055 厦门艾德生物医药科技股份有限公司 独立董事提名人声明与承诺 √是 □否 ...

厦门艾德生物医药科技股份有限公司 （三）可能或者已经影响社会公众投资者投资取向，造成股价异常波动的信 息； （四）其他涉及公司信息披露且可能对公司股票及其衍生品交易价格产生较 大影响的事件信息。 第三条 舆情信息的分类： （一）重大舆情：指传播范围较广，严重影响公司公众形象或正常经营活 动，使公司已经或可能遭受损失，已经或可能造成公司股票及其衍生品种交易 价格变动的负面舆情。 （二）一般舆情：指除重大舆情之外的其他舆情。 舆情管理制度 第一条 为提高厦门艾德生物医药科技股份有限公司（以下简称"公司"或 "本公司"）应对舆情的能力，建立快速反应和应急处置机制，及时、妥善处理 舆情对公司股票价格、商业信誉及生产经营活动造成的影响，切实保护投资者合 法权益，根据相关法律法规的规定和《厦门艾德生物医药科技股份有限公司章程》 （以下简称"《公司章程》"），制定本制度。 第二条 本制度所称舆情包括： （一）报刊、电视、网络等媒体对公司进行的负面报道； （二）社会上存在的已经或将给公司造成不良影响的传言或信息； 第四条 公司应对各类舆情实行统一领导、统一组织、快速反应、协同应对。 第五条 公司成立应对舆情管理工作领导小组（ ...

证券代码：300685 证券简称：艾德生物 公告编号：2024-056 厦门艾德生物医药科技股份有限公司 关于调整 2023 年限制性股票激励计划相关事项的公告 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。 2024年7月29日，厦门艾德生物医药科技股份有限公司（以下简称"公司"） 召开第三届董事会第二十次会议，审议通过了《关于调整2023年限制性股票激 励计划相关事项的议案》，现将有关事项说明如下： 一、本次激励计划已履行的相关审批程序 1、2023年9月8日，公司召开第三届董事会第十三次会议，会议审议通过了 《关于公司<2023年限制性股票激励计划（草案）>及其摘要的议案》《关于公 司<2023年限制性股票激励计划实施考核管理办法>的议案》《关于提请股东大 会授权董事会办理2023年限制性股票激励计划相关事宜的议案》等议案，公司 独立董事发表了同意的独立意见。 2、2023年9月8日，公司召开第三届监事会第十二次会议，会议审议通过了 《关于公司<2023年限制性股票激励计划（草案）>及其摘要的议案》《关于公 司<2023年限制性股票激励计划实施考核管理办 ...