2026 年 3 月 23 日 本资产评估报告依据中国资产评估准则编制 浙江天宇药业股份有限公司拟进行股权 收购涉及的上海星可高纯溶剂有限公司 股东全部权益价值评估项目 坤元评报〔2026〕162 号 资 产 评 估 报 告 | 报告编码: | 3333020001202600190 | | --- | --- | | 合同编号: | H-HZ26-000211 | | 报告类型: | 法定评估业务资产评估报告 | | 报告文号: | 坤元评报(2026) 162号 | | 报告名称: | 浙江天宇药业股份有限公司拟进行股权收购涉及的上海星可高纯 溶剂有限公司股东全部权益价值评估项目资产评估报告 | | 评估结论: | 392,527.075.52元 | | 评估报告日 : | 2026年03月23日 | | 评估机构名称: | 坤元资产评估有限公司 | | 签名人员: | 黄祥 (资产评估师) 正式会员 编号:33090010 | | | 胡悠 (资产评估师) 正式会员 编号:33180029 | | | 黄祥、胡悠已实名认可 | 坤元资产评估有限公司 | 一、委托人、被评估单位及其他资产评估报告使用人 4 ...

目 录 | 二、财务报表……………………………………………………… 第 | 4—11 | | 页 | | --- | --- | --- | --- | | （一）合并资产负债表…………………………………………… | 第 | 4 | 页 | | （二）母公司资产负债表………………………………………… | 第 | 5 | 页 | | （三）合并利润表………………………………………………… | 第 | 6 | 页 | | （四）母公司利润表……………………………………………… | 第 | 7 | 页 | | | | 一、审计报告……………………………………………………… 第 1—3 页 （五）合并现金流量表…………………………………………… 第 8 页 （六）母公司现金流量表………………………………………… 第 9 页 （七）合并所有者权益变动表……………………………………第 10 页 （八）母公司所有者权益变动表…………………………………第 11 页 审 计 报 告 天健审〔2026〕1133 号 浙江天宇药业股份有限公司： 一、审计意见 我们审计了上海星可高纯溶剂有限公司（以下简称星可溶剂公司）财务报表， 包 ...

证券代码：300702 证券简称：天宇股份 公告编号：2026-014 浙江天宇药业股份有限公司 关于收购上海星可高纯溶剂有限公司部分股权 暨关联交易的公告 本公司董事会及全体董事保证本公告内容不存在虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 特别提示： 1、浙江天宇药业股份有限公司（以下简称"公司"或"天宇股份"）拟以 支付现金方式收购上海星可高纯溶剂有限公司（以下简称"上海星可"或"标的 公司"）87.8173%股权（以下简称"本次交易"、"本次收购"），本次交易以 评估机构所出具评估报告的评估结果为定价参考，经交易双方协商，最终确定转 让价格为人民币 33,370.57 万元。本次交易完成后，上海星可将成为公司的控股 子公司。 2、本次交易对方之一屠勇军先生（持有上海星可 39.4905%股权）为公司控 股股东，根据《深圳证券交易所创业板股票上市规则》的相关规定，本次交易构 成关联交易。但本次交易不构成《上市公司重大资产重组管理办法》规定的重大 资产重组，也不构成重组上市。本次交易事项已经公司第五届第二十次董事会审 议通过，关联董事已回避表决，尚须提交股东 ...

证券代码：300702 证券简称：天宇股份 公告编号：2026-015 浙江天宇药业股份有限公司 5、会议的召开方式：现场表决与网络投票相结合。 6、会议的股权登记日：2026 年 4 月 10 日 关于召开 2026 年第一次临时股东会的通知 本公司董事会及全体董事保证本公告内容不存在虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 一、召开会议的基本情况 1、股东会届次：2026 年第一次临时股东会 2、股东会的召集人：董事会 3、本次会议的召集、召开符合《中华人民共和国公司法》《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 2 号—创业 板上市公司规范运作》等法律、行政法规、部门规章、规范性文件及《公司章 程》的有关规定。 4、会议时间： （1）现场会议时间：2026 年 4 月 15 日 15:30 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间为 2026 年 4 月 15 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互 联网投票系统投票的具体时间为 2026 年 4 ...

一、董事会会议召开情况 证券代码：300702 证券简称：天宇股份 公告编号：2026-013 浙江天宇药业股份有限公司 第五届董事会第二十次会议决议公告 本公司董事会及全体董事保证本公告内容不存在虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 二、董事会会议审议情况 与会董事就各项议案进行了审议、表决，形成决议如下： 浙江天宇药业股份有限公司（以下简称"公司"）第五届董事会第二十次会 议于 2026 年 3 月 30 日 9：30 在公司一楼会议室以现场结合通讯表决的方式召开， 本次会议通知于 2026 年 3 月 25 日以书面、电话、电子邮件方式送达。会议应出 席董事 8 人，实际出席董事 8 人。会议由公司董事长屠勇军先生主持，公司高级 管理人员列席了本次会议。本次董事会会议的召开符合《公司法》和《公司章程》 的有关规定。 关联董事屠勇军先生及一致行动人林洁女士已回避表决。 1、审议通过了《关于收购上海星可高纯溶剂有限公司部分股权暨关联交易 的议案》； 本次收购上海星可高纯溶剂有限公司 87.8173%股权符合公司整体发展战略 方向，有利于增强公司现有业务实 ...

证券代码：300702 证券简称：天宇股份 公告编号：2026-011 浙江天宇药业股份有限公司 关于全资子公司原料药通过 CDE 评审的公告 本公司董事会及全体董事保证本公告内容不存在虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 登记号：Y20240001364 化学原料药注册标准编号：YBY62912026 审批结论：根据《中华人民共和国药品管理法》及有关规定，经审查，本品 符合药品注册的有关要求，批准注册。质量标准、标签及生产工艺照所附执行。 生产企业：浙江京圣药业有限公司 二、药品的其他相关情况 本维莫德用于适合局部治疗的成人轻至中度稳定性寻常型银屑病。 浙江天宇药业股份有限公司（以下简称"公司"）全资子公司浙江京圣药业有 限公司（以下简称"京圣药业"） 本维莫德原料药于近日通过国家药品监督管理 局药品审评中心（以下简称"CDE"）审评。现将相关情况公告如下： 一、药品基本情况 化学原料药名称：本维莫德 包装规格：1kg/桶 1 / 2 性，敬请广大投资者谨慎决策，注意投资风险。 特此公告。 浙江天宇药业股份有限公司董事会 二〇二六年三月二十八日 2 / ...

证券代码：300702 证券简称：天宇股份 公告编号：2026-012 浙江天宇药业股份有限公司 关于全资子公司药品获得批准的公告 本公司董事会及全体董事保证本公告内容不存在虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 浙江天宇药业股份有限公司（以下简称"公司"）全资子公司浙江诺得药业 有限公司（以下简称"诺得药业"）于近日收到国家药品监督管理局（以下简称 "国家药监局"）核准签发的关于盐酸伐地那非片的《药品注册证书》。现将相 关情况公告如下： 一、药品情况 | 药品名称 | 盐酸伐地那非片 | | | | | --- | --- | --- | --- | --- | | 英文名 | Vardenafil | Hydrochloride | | Tablets | | 剂型 | 片剂 | | | | | 规格 | 20mg（按 | C₂₃H₃₂N₆O₄S | | 计） | | 是否处方药 | 是 | | | | | 申请事项 | 药品注册（境内生产） | | | | | 注册分类 | 化学药品 4 类 | | | | | 药品批准文号 | 国药准字 | H202 ...

Investment Rating - The report maintains an "Overweight" rating for the pharmaceutical and biotechnology sector [4]. Core Insights - The healthcare insurance fund is operating smoothly, with a total income of CNY 3.59 trillion and total expenditure of CNY 3 trillion in 2025, reflecting a stable operation of the fund [6][12]. - The report highlights the importance of focusing on sectors with individual stock alpha or defensive attributes amid increased market volatility due to external shocks [6][12]. - The report emphasizes the potential for price increases in the pharmaceutical sector, particularly in innovative drugs and high-end medical devices, supported by healthcare insurance policies [12]. - NVIDIA's GTC 2026 outlines a comprehensive strategy for integrating AI into the healthcare industry, indicating a significant transformation in the medical value chain [12][19]. Summary by Sections Industry Overview - The pharmaceutical and biotechnology sector has a total market capitalization of CNY 67,613.55 billion and a circulating market value of CNY 61,920.43 billion, with 504 listed companies [2]. Market Dynamics - The report notes that the Shanghai Composite Index fell by 2.19% and the pharmaceutical sector declined by 2.77%, ranking 8th among 31 sub-industries [6][19]. - The report identifies that the performance of individual stocks varies, with companies like Dong-E E-Jiao and China Resources Sanjiu showing positive profit growth [12]. Company Performance - Key recommended stocks include WuXi Biologics, Tigermed, and Sihuan Pharmaceutical, all rated as "Buy" [4]. - The report highlights the performance of specific companies, such as Sanofi and Jizhong Pharmaceutical, which have shown significant weekly gains [28]. Valuation Metrics - The pharmaceutical sector is currently valued at 21.9 times PE based on 2026 earnings forecasts, with a premium of 11% over the overall A-share market [21][22]. - The TTM valuation for the sector stands at 29.9 times PE, below the historical average of 34.8 times PE, indicating potential undervaluation [21][22].

Investment Rating - The report maintains an "Overweight" rating for the industry [5] Core Insights - The pharmaceutical sector is experiencing a divergence in performance, with price increase logic and structural opportunities during the earnings window being noteworthy [7][11] - The report highlights the strong performance of the medical device sector, particularly in brain-computer interface policies and price increases for gloves, which are catalyzing market activity [11] - The "14th Five-Year Plan" has been released, clarifying the direction for the medical industry and system construction, emphasizing innovation in biomedicine and the integration of AI technologies [11][12] Summary by Sections Industry Overview - The pharmaceutical industry comprises 504 listed companies with a total market value of 69,254.89 billion [2] - The circulating market value stands at 63,426.67 billion [2] Market Dynamics - The Shanghai Composite Index rose by 0.19%, while the pharmaceutical sector fell by 0.22%, ranking 13th among 31 sub-industries [11] - The report notes a mixed performance across various segments, with medical devices and biological products showing positive trends [11] Key Recommendations - The report recommends focusing on sectors likely to see price increases, such as gloves and raw materials, as well as innovative drugs and AI applications [11] - Specific companies to watch include Innovent Biologics, Mindray Medical, and others in the innovative drug and medical device sectors [8][12] Policy and Regulatory Developments - The report discusses the approval of the first invasive brain-computer interface medical device, marking a significant milestone in the industry [16] - The "14th Five-Year Plan" outlines key technological advancements and legislative support for emerging industries, including biomedicine and AI [11][13]

Investment Rating - The report maintains an "Overweight" rating for the industry [6] Core Insights - The pharmaceutical sector is experiencing volatility and differentiation, with structural opportunities arising from policy catalysts and performance windows. The Shanghai Composite Index fell by 1.07%, while the pharmaceutical sector dropped by 2.78%, ranking 17th among 31 sub-industries. Notably, the market showed a rebound after initial geopolitical concerns, driven by positive mentions of pharmaceuticals in the government work report [8][14] - The report emphasizes the importance of the upcoming Q1 earnings reports, which are expected to provide positive catalysts, particularly for companies like Ailis, which anticipates a 41% revenue increase and a 44% rise in net profit [8][14] - The government work report highlights the development of emerging industries, including biomedicine, and reiterates the focus on innovative drugs and medical devices. This marks the third consecutive year that "innovative drugs" have been included in the report, indicating a sustained commitment to this sector [8][14] Summary by Sections Market Dynamics - The pharmaceutical sector's performance is influenced by both policy changes and market conditions, with a notable decline in various sub-sectors such as medical services and traditional Chinese medicine [8][14] - The report indicates that the pharmaceutical sector's valuation is currently at 22.4 times PE based on 2026 earnings forecasts, which is a premium of 8.4% compared to the overall A-share market [23] Investment Recommendations - The report suggests focusing on three main investment lines: 1. Leading biotech and biopharma companies that are expected to benefit from improved payment environments and global competitiveness, such as Kangfang Biotech and BeiGene [8][14] 2. Upstream and CXO sectors supported by "patient capital," with companies like WuXi Biologics and Tigermed highlighted as potential beneficiaries [8][14] 3. Cutting-edge fields such as brain-computer interfaces and AI in healthcare, with specific companies recommended for investment [8][14] Company Performance - The report notes that companies in the innovative drug sector have shown strong performance, particularly those with ongoing product developments. Conversely, stocks that previously experienced significant gains are now facing corrections [29]