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 湖南九典制药股份有限公司 编号：2025-22 | | 特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | 类别 | □现场参观 2025 年湖南辖区上市公司投 其他 | | | 资者网上集体接待日暨半年度业绩说明会 | | 参与单位名称及 | 投资者网上提问 | | 人员姓名 | | | 时间 | 2025 年 9 月 19 日 (周五)下午 14:30~17:00 | | 公 地点 | 司 通 过 全 景 网 " 投 资 者 关 系 互 动 平 台 " | | | （https://ir.p5w.net）采用网络远程的方式召开 | | 上市公司接待人 | 副总经理兼董事会秘书：曾蕾 | | 员姓名 | 证券事务代表：甘荣 | | 投资者关系活动 | 投资者提出的问题及公司回复情况 | | | 公司就投资者在本次说明会中提出的问题进行了回复： | | | 1、尊敬的董秘，您好，在医药板大涨下，贵公司股价欠 | ...

天风证券研报指出，九典制药2025H1实现归母净利润2.91亿元（YoY+2.57%），2025年单二季度实现归 母净利润1.66亿元（YoY+4.54%），上半年业绩增速符合预期。截至2025年上半年，公司已拥有7款外 用制剂药品注册证书，在研外用制剂产品超20个，主要产品包括洛索洛芬钠凝胶贴膏、酮洛芬凝胶贴 膏、消炎解痛巴布膏、利丙双卡因乳膏、克霉唑阴道片等。随着未来新品逐渐上市销售，叠加老龄化日 益严重、经皮给药市场需求增加的外部环境驱动，公司在外用制剂板块有望持久续航。公司布局化药与 中药创新药，其中以化药创新药为核心发展方向，重点聚焦疼痛领域（主要研发多肽药物与小分子药 物）与肿瘤领域（专注PDC药物研发）。基于洛索洛芬钠凝胶贴膏竞争格局变化，调整盈利预测，维 持"买入"评级。 ...

Investment Rating - The investment rating for the company is "Buy" with a target price not specified [7] Core Viewpoints - The company has demonstrated stable operations with a focus on expanding its topical formulation pipeline and accelerating its transformation into innovative drugs [1] - The revenue for the first half of 2025 reached 1.512 billion yuan, representing a year-on-year increase of 10.67%, while the net profit attributable to the parent company was 291 million yuan, up 2.57% year-on-year [1] - The company expects revenue growth of 10-20% and a similar increase in net profit for the full year of 2025 [1] - The gross margin for the first half of 2025 was 74.58%, with a net margin of 19.27% [1] Summary by Sections Financial Performance - In the first half of 2025, the company achieved a revenue of 1.512 billion yuan (YoY +10.67%) and a net profit of 291 million yuan (YoY +2.57%) [1] - The second quarter of 2025 saw a revenue of 816 million yuan (YoY +5.24%) and a net profit of 166 million yuan (YoY +4.54%) [1] - The company maintains a stable expense ratio, with a sales expense ratio of 40.37% and a research and development expense ratio of 8.26% [1] Product Development - As of the first half of 2025, the company holds 7 registered topical formulation products and has over 20 products under development [2] - The topical formulation segment achieved sales revenue of 836 million yuan (YoY +16.96%), driven by the growth of key products [2] - The company anticipates continued growth in its topical formulation pipeline with several products expected to be approved in 2025-2026 [2] Innovation and R&D - The company is transitioning towards innovative drug development, focusing on chemical and traditional Chinese medicine innovations, particularly in pain and oncology [3] - The acquisition of the antibacterial peptide new drug JIJ02 gel for 90 million yuan is a significant step in expanding its innovative drug pipeline [3] - JIJ02 gel is currently in Phase I clinical trials, targeting common acne, and is expected to complete Phase I and initiate Phase II trials by mid-2026 [3] Profit Forecast - The revenue forecast for 2025-2027 is adjusted to 3.281 billion yuan, 3.469 billion yuan, and 3.808 billion yuan respectively, with net profits of 588 million yuan, 628 million yuan, and 729 million yuan [4] - The company maintains a price-to-earnings ratio of 15, 14, and 12 times for the years 2025-2027 [4]

| 证券代码：300705 | 证券简称：九典制药 | 公告编号：2025-067 | | --- | --- | --- | | 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 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （https://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP， 参与本次互动交流，活动时间为 2025 年 9 月 19 日（星期五）14:00-17:00。届 时公司高管将在线就公司 2024 年度及 2025 年半年度业绩情况、公司治理、发展 战略、经营状况和可持续发展等投资者关心的问题，与投资者进行沟通与交流， 欢迎广大投资者踊跃参与。 特此公告。 湖南九典制药股份有限公司董事会 2025 年 9 月 15 日 暨半年度业绩说明会活动的公告 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。 为进一步加强与投资者的互动交流，湖南九典制药股份有限公司（以下简称 "公司"）将参加由湖南证监局、湖南省上市公司协会与深圳市全景网络有限公 司联合举办的"资本聚三 ...

Group 1 - The company conducted a specific investor research activity on September 12, 2025, with representatives from Yige Private Equity Fund and Yongxing Securities [1] - The expected price drop for the Loxoprofen Sodium Gel Patch in the upcoming collective procurement is currently unestimated due to the absence of formal rules for the 11th batch [1] - The company plans to invest between 250 million to 300 million yuan in R&D for the year 2025, with projected revenue growth of 10-20% and net profit growth of 10-20% year-on-year [1] Group 2 - The company aims to achieve its annual targets by focusing on promoting new products, enhancing market education, and optimizing product positioning [1] - The JIJ02 gel is expected to complete Phase I clinical trials in the first half of next year and initiate Phase II trials [1] - The company holds an optimistic view on the market prospects for the anti-inflammatory pain relief patch, anticipating increased demand due to the aging population and the growing chronic pain patient demographic [1] Group 3 - The Loxoprofen Sodium Gel Patch and Ketoprofen Gel Patch are both external non-steroidal anti-inflammatory drugs, but they differ in active ingredients and mechanisms of action [1] - The Loxoprofen Sodium Gel Patch has a higher drug loading capacity and broader indications, while the Ketoprofen Gel Patch offers better drug permeability and a more comprehensive mechanism of action [1]

Group 1 - The core viewpoint of the article is that JIJ02 gel is expected to complete Phase I clinical trials in the first half of next year and initiate Phase II clinical trials based on the current research and development progress of the company [1]

Group 1: Company Overview and Financial Projections - The company, Hunan Jiutian Pharmaceutical Co., Ltd., is involved in the integrated development of formulations, raw materials, and pharmaceutical excipients [1] - R&D expenses for 2025 are projected to be between CNY 250 million and CNY 300 million [2] - Expected revenue growth for 2025 is projected at 10-20%, with non-recurring net profit also expected to grow by 10-20% [2] Group 2: Market Strategy and Product Development - The company plans to enhance market penetration of new products through market education and optimized product positioning [3] - There will be a focus on promoting the OTC channel and expanding the product matrix to boost sales of the anti-inflammatory plaster [5][6] - The JIJ02 gel is expected to complete Phase I clinical trials in the first half of next year and initiate Phase II trials [4] Group 3: Product Comparison and Market Outlook - The difference between Loxoprofen Sodium Gel and Ketoprofen Gel lies in their active ingredients and mechanisms of action, with Loxoprofen being more suitable for a wider range of conditions [6] - The aging population is expected to increase the demand for transdermal drug delivery products, positively impacting market growth [6]

| 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：2025-066 | 湖南九典制药股份有限公司 2025 年第一次临时股东会决议公告 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。 特别提示： 1、本次股东会无变更、否决议案的情形。 2、本次股东会不涉及变更以往股东会决议的情形。 一、会议召开情况 （一）会议召开方式：本次股东会采取现场投票表决与网络投票表决相结合 的方式召开 （二）会议召开时间 1、现场会议时间：2025 年 9 月 9 日 14:45 2、网络投票时间： ①通过深圳证券交易所交易系统进行网络投票的时间为 2025 年 9 月 9 日 9:15-9:25，9:30-11:30，13:00-15:00。 司章程》的相关规定。 二、会议出席情况 1、出席本次会议的股东及股东代表共251人，代表股份236,436,690股，占 公司有表决权股份总数的47.8586％。 ①出席现场会议的股东及股东代表共6人，代表173,987,48 ...

湖南启元律师事务所 法律意见书 湖南启元律师事务所 关于湖南九典制药股份有限公司 2025年第一次临时股东会的 法律意见书 二〇二五年九月 湖南省长沙市芙蓉区建湘路393号世茂环球金融中心63层 电话： 0731-8295 3778传真：0731-8295 3779 网站： www.qiyuan.com 湖南启元律师事务所 法律意见书 湖南启元律师事务所 关于湖南九典制药股份有限公司 2025 年第一次临时股东会的 法律意见书 致：湖南九典制药股份有限公司 湖南启元律师事务所（以下简称"本所"）接受湖南九典制药股份有限公司（以 下简称"公司"）的委托，指派本所律师出席了公司2025年第一次临时股东会（以 下简称"本次股东会"），对本次股东会的召集和召开程序、出席会议人员及召集 人的资格、表决程序和表决结果的合法有效性进行现场律师见证，并发表本法律 意见。 本所律师根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中 华人民共和国证券法》（以下简称"《证券法》"）、《上市公司股东会规则》（以 下简称"《股东会规则》"）等我国现行法律、法规、规范性文件以及《湖南九典 制药股份有限公司章程》（以下简称"《公 ...

| 证券代码：300705 | 证券简称：九典制药 | 公告编号：2025-065 | | --- | --- | --- | | 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 关于九典转 02 付息的公告 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。 特别提示： 1、九典转02（债券代码：123223）将于2025年9月15日按面值支付第二年利 息，每10张九典转02（面值1,000元）利息为5.00元（含税）。 2、债权登记日：2025年9月12日（星期五） 8、下一年度的票面利率：1.00% 湖南九典制药股份有限公司（以下简称"公司"）于2023年9月15日向不特定 对象发行的可转换公司债券将于2025年9月15日支付2024年9月15日至2025年9月 14日的利息，根据《湖南九典制药股份有限公司创业板向不特定对象发行可转换 公司债券募集说明书》（以下简称《募集说明书》）有关条款的规定，现将本次付 息有关事项公告如下： 一、九典转02的基本情况 1、可转债中文简称：九典转 02 3、付息日：2025年9月15日（ ...