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]

| 证券代码：300705 | 证券简称：九典制药 | 公告编号：2024-074 | | --- | --- | --- | | 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（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 大股东及一 | | 本次质押股 | 占其所 持股份 | 占公司 总股本 | 是否为 | 是否为 补充质 | 质押 | 质押 | 质权人 | 质押 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | | | 份数量（股） | | | 限售股 | | 开始日期 | 到期日 | | 用途 | | | 致行动人 | | | 比例 | 比例 | | 押 | | | | | | 朱志宏 | | 是 | 5,200,000 | 3.16% | 1.06% | 否 | 否 | 2024-11-6 | 办理解 除质押 | ...

| 证券代码：300705 | 证券简称：九典制药 | 公告编号：2024-073 | | --- | --- | --- | | 债券代码：123223 | 债券简称：九典转02 | | 注册分类：中药 1.1 类 剂型：贴膏剂 湖南九典制药股份有限公司 功能主治：温经散寒，活血止痛 关于撤回药品注册申请的进展公告 受理号：CXZS2300028 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"）于近日收到国家药品监督 管理局核准签发的《药品注册申请终止通知书》，同意公司撤回椒七麝凝胶贴膏 的药品注册申请报告，现将相关信息披露如下： 一、药品的基本信息 药品名称：椒七麝凝胶贴膏 审查结论：根据《药品注册管理办法》第八十九条以及申请人的撤回申请， 同意本品注册申请撤回，终止注册程序。 二、同类药品的情况 椒七麝凝胶贴膏是公司基于临床经验方开发的局部经皮给药制剂，具有温经 散寒、活血止痛的作用，用于寒凝血瘀所致的痹病，症见关节疼痛、压痛、局部 畏寒、得温痛减、关节活动不利、僵硬重滞；骨性关节炎等见上述证候者。上述 症状常 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 20% relative to the market benchmark within the next six months [16]. Core Insights - The company reported a revenue of 2.15 billion with a year-on-year growth of 13.4% and a net profit attributable to the parent company of 450 million, reflecting a significant year-on-year increase of 45.1% for the first three quarters of 2024 [1]. - The company has a robust pipeline of over 20 external preparations under research, with key products including Lidocaine gel patches and Loxoprofen sodium patches, indicating strong long-term growth potential [3]. - The company has effectively controlled costs, with a notable decrease in sales expense ratio by 6.7 percentage points year-on-year, demonstrating improved management efficiency [2]. Financial Performance - For the first three quarters of 2024, the gross profit margin was 73.8%, a decrease of 4.2 percentage points year-on-year, while the sales expense ratio was 39.9%, down 6.7 percentage points year-on-year [2]. - The company forecasts net profits of 520 million, 680 million, and 890 million for the years 2024, 2025, and 2026 respectively, maintaining previous estimates [5]. - The projected earnings per share (EPS) for 2024, 2025, and 2026 are 1.06, 1.38, and 1.82 yuan respectively, with corresponding price-to-earnings (P/E) ratios of 22.4, 17.1, and 13.0 [7][14].

| 证券代码：300705 | 证券简称：九典制药 | 公告编号：2024-072 | | --- | --- | --- | | 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 | 股东名称 | 减持原因 | 股份来源 | 减持数量及比例 | 减持方式 | 减持期间 | 减持价格 | | --- | --- | --- | --- | --- | --- | --- | | 段立新 | | 首次公开发行 | | | 26 日-2025 | | | | | 前已发行的股 | 不超过 | | 2024年11月 | 不低于公 | | | 个人资金 | 份及资本公积 | 14,772,180 股， | 集中竞价、 | | 司首次公 | | | 需求 | 金转增股份、股 | 占本公司总股本 | 大宗交易 | | 开发行价 | | | | | | | 年 2 月 25 日 | | | | | 权激励计划授 | 的 3%。 | | | 格 | | | | 予的股份 | | | | | 注：若计划减持期间公司有送股、资本公积转增股本等变动事项，应对上述 减持数量做相应调整。 关于股东减持 ...

九典制药：股东计划减持公司股份不超过3% 财联社11月4日电，九典制药公告，公司持股5%以上股东 段立新计划在本公告披露日起15个交易日后的3个月内，以集中竞价交易或大宗交易方式减持公司股份 不超过14,772,180股，占公司总股本比例的3%。 查看公告原文 ...

| 证券代码：300705 | 证券简称：九典制药 | | | --- | --- | --- | | 债券代码：123223 | 债券简称：九典转02 | 公告编号：2024-071 | 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 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 2023 年度股东大会审议通过 了《关于为全资子公司申请银行授信提供担保的议案》，同意公司为全资子公司 湖南九典宏阳制药有限公司（以下简称"九典宏阳"）向银行申请总额不超过 7.9 亿元的综合授信额度提供连带责任保证。 具体内容详见公司于 2024 年 4 月 25 日、2024 年 5 月 15 日在巨潮资讯网上 披露的相关公告。 二、担保进展情况 近日，公司全资子公司九典宏阳因生产经营需要，向上海浦东发展银行长沙 支行（以下简称"浦发银行"）申请授信。公司与浦发银行签订了《最高额保证 合同》，为全资子 ...