| 证券代码：300705 | 证券简称：九典制药 | 公告编号：2024-079 | | --- | --- | --- | | 债券代码：123223 | 债券简称：九典转02 | | 湖南九典制药股份有限公司 关于股东减持股份实施完毕的公告 股东段斌保证向本公司提供的信息内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 二、其他相关说明 1、本次减持计划符合《上市公司股东减持股份管理暂行办法》《上市公司董 事、监事和高级管理人员所持本公司股份及其变动管理规则》《深圳证券交易所 上市公司自律监管指引第 18 号——股东及董事、监事、高级管理人员减持股份》 等法律法规及规范性文件的规定。 2、本次实际减持情况与此前披露的减持计划一致，不存在差异减持情况。 3、本次减持的实施不会导致公司控制权发生变更，不会对公司的持续性经 营产生影响。 湖南九典制药股份有限公司（以下简称"公司"）于 2024 年 8 月 15 日披露 《关于股东减持股份的预披露公告》（公告编号：2024-052），公司监事段斌女士， 计划以集中竞价方式减持公司股 ...

Group 1: Sales Performance - The total sales revenue of the transdermal patch for the first three quarters reached 1.169 billion CNY, an increase of 6.46% year-on-year, with sales volume growing by 60.63% [2] - The sales revenue for the third quarter was 462 million CNY, representing a year-on-year growth of 15.57%, with sales volume increasing by 80.13% [2] - The hospital sales revenue for the third quarter increased by 8.47% year-on-year, while the sales volume grew by 73.02% [2] Group 2: Future Outlook - The company expects a revenue growth of 10-20% for the fiscal year 2024, with a non-net profit growth of 30-40% [3] - The company anticipates that the transdermal patch will maintain a stable growth trajectory over the next 2-3 years, driven by the increasing demand from chronic pain patients [3] - The introduction of new products, such as the flurbiprofen and indomethacin transdermal patches, is expected to enhance the product line and support future profit growth [4] Group 3: Market Strategy - The company is focusing on expanding its market presence in regions where provincial centralized procurement has been implemented, with over 20 administrative regions already executing procurement [3] - The impact of local centralized procurement on the sales price of the transdermal patch is acknowledged, but the overall net profit is expected to be minimally affected due to reduced sales expenses and increased OTC channel sales [4] - As of October 30, 2024, the company has developed over 900 secondary and tertiary hospitals and more than 900 primary hospitals for the ketoprofen transdermal patch [4]

| 证券代码：300705 | 证券简称：九典制药 | 公告编号：2024-078 | | --- | --- | --- | | 债券代码：123223 | 债券简称：九典转02 | | 湖南九典制药股份有限公司 关于持股 5%以上股东股份质押的公告 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。 湖南九典制药股份有限公司（以下简称"公司"）于近日收到持股5%以上股 东朱志宏先生的通知，获悉朱志宏先生将所持有的公司部分股份进行了质押，具 体情况如下： 一、股东股份质押的基本情况 | 股东 | 是否为第一 | 本次质押股 | 占其所 | 占公司 | 是否为 | 是否为 | 质押 | 质押 | | 质押 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 大股东及一 致行动人 | 份数量（股） | 持股份 比例 | 总股本 比例 | 限售股 | 补充质 押 | 开始日期 | 到期日 | 质权人 | 用途 | | | | | | | | | | 办理解 | 国泰君 ...

Investment Rating - The report initiates coverage with a "Buy" rating for the company [4][5]. Core Views - The company is positioned to become a leader in the transdermal drug delivery sector, with a rich product matrix and significant growth potential driven by its flagship product, Loxoprofen Sodium Gel Patch, which achieved sales of 1.547 billion yuan in 2023, reflecting a year-on-year growth of 19% [2][4]. - The company is expanding its product offerings, including the recently approved Ketoprofen Gel Patch, which is expected to contribute to revenue growth as it enters the national medical insurance directory [3][4]. - The company has a strong focus on R&D, maintaining a research and development expense ratio of 8-9% over the past four years, which supports its innovation and transformation efforts [3][4]. Summary by Sections 1. Company Overview - Established for over 20 years, the company has a comprehensive layout in chemical pharmaceuticals, raw materials, and health products, with a focus on self-developed products [20][31]. - The company has a stable shareholding structure, with the founder having a solid medical background, which supports its long-term development [26][31]. 2. Market Potential - The pain management market is promising, with a high prevalence of chronic pain in China, indicating significant growth opportunities for topical transdermal products [3][20]. - The company has a competitive advantage in the transdermal patch market, with its leading product, Loxoprofen Sodium Gel Patch, holding a 100% market share [32][36]. 3. Financial Performance - The company has shown stable revenue growth, with a compound annual growth rate of 27.43% from 2018 to 2023, and is expected to continue this trend with projected net profits of 519 million yuan, 691 million yuan, and 876 million yuan for 2024, 2025, and 2026, respectively [4][8][36]. - The company’s revenue from drug formulations accounted for over 80% of total revenue in 2023, highlighting its focus on this segment [21][36]. 4. Profitability Forecast - The report forecasts a significant increase in net profit for the company, with expected growth rates of 41%, 33%, and 26.7% for the years 2024, 2025, and 2026, respectively [4][8]. - The company is optimizing its sales strategies and cost structures, which is anticipated to enhance profitability further [3][4].

| 证券代码：300705 | 证券简称：九典制药 | 公告编号：2024-077 | | --- | --- | --- | | 债券代码：123223 | 债券简称：九典转02 | | 湖南九典制药股份有限公司 关于为全资子公司提供担保的进展公告 近日，公司全资子公司九典宏阳因生产经营需要，向招商银行股份有限公司 长沙分行（以下简称"招商银行"）申请授信。公司与招商银行签订了《最高额 不可撤销担保书》，为全资子公司九典宏阳提供最高限额人民币 5,000 万元的保 证担保。 以上担保金额在公司已履行审议程序的担保额度以内，无需履行其他审议程 序。本次担保生效后，公司为全资子公司九典宏阳提供担保的剩余总额度为人民 币 37,700 万元整。 三、被担保人情况 公司名称：湖南九典宏阳制药有限公司 统一社会信用代码：91430122344723202P 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、担保情况概述 湖南九典制药股份有限公司（以下简称"公司"）于 2024 年 4 月 24 日、2024 年 5 月 15 日分别召开的第四届董事会第四次会议及 2 ...

| 证券代码：300705 | 证券简称：九典制药 | 公告编号：2024-076 | | --- | --- | --- | | 债券代码：123223 | 债券简称：九典转02 | | 湖南九典制药股份有限公司 关于与专业投资机构共同投资暨关联交易的进展公告 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。 湖南九典制药股份有限公司（以下简称"公司"）于 2024 年 8 月 23 日召开 的第四届董事会第六次会议审议通过了《关于与专业投资机构共同投资暨关联交 易的议案》，同意公司使用自有资金，上限不超过 9,000 万元，与深圳前海上善 金石私募股权投资基金管理有限公司、湖南湘江新区引导四号股权投资合伙企业 （有限合伙）、朱志宏先生及其他有限合伙人（待定）共同投资设立长沙湘江善 具体内容详见公司于 2024 年 8 月 24 日在巨潮资讯网披露的《关于与专业投 资机构共同投资暨关联交易的公告》（公告编号：2024-058）。 一、交易标的的进展情况 近日，公司收到执行事务合伙人通知，湘江善诺已完成工商注册登记，并取 得湖南湘江新区管理委员会颁发的《营业执照 ...

Group 1: Sales Performance - The sales revenue of the transdermal patch for the first three quarters reached 1.65 billion CNY, representing a year-on-year growth of 219.28% [1] - In Q3, the sales revenue of the transdermal patch was 0.58 billion CNY, with a year-on-year increase of 113.49% [1] - The sales revenue of the ketoprofen gel patch in Q3 grew over 60% compared to Q2 [3] Group 2: Market Expansion and Product Development - The company is focusing on expanding its market presence, particularly in regions where provincial centralized procurement has been implemented [2] - New products expected to launch include flurbiprofen gel patch and indomethacin gel patch, which will enhance the company's product line [2] - The company plans to accelerate the development of its product matrix through acquisitions and strengthen its market position in external preparations [3] Group 3: Financial Outlook - The projected revenue growth for 2024 is estimated at 10-20%, with a net profit growth of 30-40% [3] - The company emphasizes that its operational plans and sales forecasts are subject to market conditions and other uncertainties [3] Group 4: Cost Management - The reduction in sales expense ratio is attributed to the implementation of centralized procurement in certain regions, a transformation in marketing strategy, and an increase in the share of external market sales [3]

| 证券代码：300705 | 证券简称：九典制药 | 公告编号：2024-075 | | --- | --- | --- | | 债券代码：123223 | 债券简称：九典转02 | | 湖南九典制药股份有限公司 关于持股 5%以上股东持股比例被动稀释超过 1%的提示性公告 股东朱志宏、朱志云、朱志纯、刘鹰保证向本公司提供的信息内容真实、准 确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 1．中国证券登记结算有限责任公司持股变动明细□ 2．相关书面承诺文件□ 注：1、本公告中若出现总数与各分项数值之和尾数不符的情况，均为四舍五入原因造 成。 2、本次权益变动前持有股份占总股本比例以公司 2023 年 2 月 21 日总股本 342,936,227 股为基数计算。本次权益变动后持有股份占总股本比例以公司 2024 年 11 月 14 日总股本 494,383,899 股为基数计算。 3、公司可转债于 2024 年 3 月进入转股期，可转债转股导致总股本增加。2024 年 4 月 公司实施了 2023 年年度权益分派方案，资本公积金转增股本导致 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [3] Core Views - The company reported strong performance in Q3 2024, with revenue of 7.8 billion yuan, a year-on-year increase of 15.47%, and a net profit attributable to shareholders of 1.66 billion yuan, up 47.38% year-on-year [1][3] - The growth in Q3 was driven by the rapid increase in sales of the core product, and a decrease in selling expenses [3] - The company is focusing on expanding its external patch product matrix, with multiple new products expected to be launched soon [4] Summary by Sections Financial Performance - For the first three quarters of 2024, the company achieved revenue of 21.46 billion yuan, a year-on-year growth of 13.36%, and a net profit of 4.5 billion yuan, up 45.08% year-on-year [1] - In Q3 2024, the company’s gross margin was 74.85%, with a significant decrease in expense ratios across various categories [3] Business Segments - In Q3 2024, the external preparation segment generated revenue of 4.62 billion yuan, a year-on-year increase of 15.57%, while the oral preparation segment saw revenue of 1.87 billion yuan, up 2.33% [3] - The raw materials and plant extracts segment experienced a revenue surge of 49.62% year-on-year, reaching 1.24 billion yuan [3] Market Dynamics - The company’s patch products are experiencing strong growth both in hospitals and outside, with a 60.63% increase in sales volume year-on-year for the first three quarters of 2024 [3] - The core product, Loxoprofen Sodium Gel Patch, has been included in provincial procurement in over 20 administrative regions, contributing to sustained growth [3] Future Outlook - The company plans to continue investing in the gel patch sector, with R&D expenses reaching 1.67 billion yuan in the first three quarters of 2024, a year-on-year increase of 6.40% [4] - Profit forecasts for 2024, 2025, and 2026 are 5.29 billion yuan, 6.90 billion yuan, and 8.63 billion yuan respectively, with corresponding year-on-year growth rates of 44%, 30%, and 25% [4]

Group 1: Sales Performance - The total sales revenue of the company's patch products for the first three quarters reached 1.169 billion CNY, representing a year-on-year growth of 6.46% [2] - Sales volume increased by 60.63% year-on-year [2] - In the third quarter, the total sales revenue of patch products was 462 million CNY, with a year-on-year growth of 15.57% [2] Group 2: Product Development and Market Expansion - The company has developed over 800 first-level hospitals and nearly 2,000 terminal hospitals, focusing on increasing hospital sales [2] - The company plans to launch the anti-inflammatory and analgesic patch this month, with OTC channels as the primary sales strategy [3] - Future product approvals include indomethacin gel patch and flurbiprofen gel patch expected in 2025, and several other topical formulations anticipated in 2026 [3] Group 3: Procurement and Market Strategy - The company is currently focusing on expanding its market presence in regions where provincial procurement has been executed [1] - The company expects to participate in the first round of national procurement with several generic drugs, which will support future profit growth [2] - Potential products for future procurement include sitagliptin tablets, simethicone emulsion, and others [3]