Financial Performance - The company's operating revenue for 2024 was ¥1,450,230,295.28, a decrease of 42.07% compared to ¥2,503,447,004.47 in 2023[23]. - The net profit attributable to shareholders for 2024 was -¥540,038,956.70, representing a decline of 392.52% from ¥184,613,302.81 in 2023[23]. - The cash flow from operating activities for 2024 was -¥550,424,562.17, a decrease of 220.17% compared to ¥458,051,312.80 in 2023[23]. - The basic earnings per share for 2024 was -¥1.1956, down 392.54% from ¥0.4087 in 2023[23]. - The total assets at the end of 2024 were ¥4,404,103,484.82, a slight decrease of 0.03% from ¥4,405,295,590.95 at the end of 2023[23]. - The net assets attributable to shareholders at the end of 2024 were ¥1,878,454,901.15, down 25.52% from ¥2,522,087,479.40 at the end of 2023[23]. - The company reported a significant decline in net profit after deducting non-recurring gains and losses, which was -¥288,936,321.54 for 2024 compared to ¥119,978,271.81 in 2023, a drop of 340.82%[23]. - The company's revenue after deducting unrelated business income for 2024 was ¥1,418,927,617.26, compared to ¥2,480,622,403.37 in 2023[23]. - The company achieved a revenue of 145,023.03 million yuan, a year-on-year decrease of 42.07%[55]. - The net profit attributable to shareholders was CNY -540.04 million, a year-on-year decline of 392.52%[55]. Research and Development - The company has increased its investment in research and development, with R&D expenses accounting for over 20% of revenue. The innovative drug AR882 has entered the Phase III clinical stage domestically and internationally[4]. - The company is committed to enhancing its innovative drug development capabilities through various mechanisms, including independent and collaborative research[5]. - The company has a total of 15 innovative drugs in its R&D pipeline, including AR882 for hyperuricemia and APH01727 for diabetes and weight loss, both currently in clinical trials[45]. - The company has established a complete R&D system for chronic disease drugs, with 29 ongoing projects, including global innovative drugs AR882 and APH01727, and holds 65 registered chronic disease drug approvals[52]. - The company has established multiple specialized R&D centers, including those for innovative drugs and high-end generics, enhancing its innovation capabilities[68]. - The company has a dedicated R&D team of 338 personnel, supported by a global network of scientific advisors to enhance innovation[73]. - The company has implemented a digital management platform for R&D, which has won the 2023 National Pharmaceutical Industry Excellent Digital Case Award[92]. - The company has 71 ongoing research projects based on its R&D technology platform, excluding technology transformation projects[93]. - The company has initiated clinical trials for new chronic disease medications, such as AR882 capsules and APH01727 tablets, indicating a commitment to innovation in this sector[129]. Market and Product Development - The company is focused on the development of innovative drugs and children's medications, aligning with the growing demand for high-quality healthcare solutions in the market[32]. - In 2024, the company's revenue from pediatric drugs reached 936 million yuan, accounting for 66.71% of its pharmaceutical manufacturing business revenue[40]. - The company holds a total of 26 pediatric drug registration approvals as of the report date[40]. - The company generated 370 million yuan in revenue from chronic disease drugs in 2024, representing 26.36% of its pharmaceutical manufacturing business revenue[42]. - The number of approved pediatric drugs increased significantly, with 106 new varieties approved during the reporting period, including 20 (18.9%) that expedited through priority review[37]. - The company has 65 registered products in the chronic disease drug category as of the report date[42]. - The pediatric drug market is expected to experience rapid growth due to increased government support and a focus on suitable formulations for children[40]. - The company is actively expanding its sales channels, including new retail channels such as chain KA and internet marketing[67]. - The company has received production approval for multiple new products, including APRD-H162 and APRD-H186, expanding its product categories in both chronic and pediatric medications[128]. Regulatory and Compliance - The company emphasizes strict adherence to GMP and GSP requirements in its production and distribution processes to ensure product quality[7]. - The company has maintained a good track record in product quality, with no major quality incidents reported, but acknowledges potential risks as it expands its operational scale[7]. - The company is closely monitoring industry policy changes that may impact its operational model and competitive landscape, leveraging its full industry chain layout to respond proactively[170]. - The company has not engaged in any securities or derivative investments during the reporting period[146][147]. - The company has not provided guarantees for its controlling shareholders, ensuring no misuse of company funds[177]. Governance and Management - The company emphasizes a governance structure that ensures effective checks and balances among shareholders, the board, and management, promoting transparency and shareholder rights[176]. - The company has established four specialized committees under the board, with independent directors constituting two-thirds of the members in each committee, enhancing decision-making quality[178]. - The company respects and protects the rights of stakeholders, focusing on social responsibility and communication[179]. - The company has a structured remuneration policy that considers operational performance and individual capabilities[191]. - The board of directors consists of 5 members, including 2 independent directors, complying with legal and regulatory requirements[178]. - The company has conducted multiple shareholder meetings in 2024, with participation rates ranging from 59.98% to 66.69%[181]. - The company is preparing for a governance transition with upcoming elections for board and supervisory roles scheduled for July 18, 2024[183]. Strategic Focus - The company aims to enhance its innovation capabilities by focusing on children's medication and chronic disease treatments, leveraging advanced drug development technologies[160]. - The company plans to optimize its innovation system and R&D platforms to strengthen its core competitiveness, with a focus on key projects like AR882 and APH01727[164]. - The company plans to enhance its digital operations through projects like SAP digital operation and WMS automation, aiming for efficient and intelligent management[105]. - The company is actively investing in research and technology services, with a focus on strategic emerging industries[156]. - The company aims to expand its market share through mergers and acquisitions in the pharmaceutical and biotechnology sectors[156].

Financial Performance - The company's revenue for Q1 2025 was ¥376,961,180.39, a decrease of 39.48% compared to the same period last year[5] - Net profit attributable to shareholders was ¥56,588,459.64, down 43.70% year-on-year[5] - The net profit after deducting non-recurring gains and losses was ¥15,189,437.34, reflecting an 84.50% decline compared to the previous year[5] - Total revenue for Q1 2025 was $376.96 million, a decrease of 39.48% compared to $622.87 million in Q1 2024, primarily due to market conditions[13] - Net profit for the current period is ¥53,446,158.72, a decline of 44.1% from ¥95,487,011.59 in the previous period[29] - The basic and diluted earnings per share decreased to ¥0.1253 from ¥0.2225 in the previous period, reflecting a decline of 43.7%[30] Research and Development - The company invested ¥74,228,100 in R&D, which is an increase of 18.71% year-on-year, focusing on the AR882 Phase III clinical trial[10] - R&D expenses decreased by 41.40% to $36.64 million from $62.53 million, attributed to the optimization of generic drug projects and capitalization of clinical costs for innovative drug AR882[13] Assets and Liabilities - The total assets increased by 19.11% to ¥5,245,752,699.90 compared to the end of the previous year[5] - The company's total liabilities increased to ¥3,256,418,795.46, up 31.9% from ¥2,468,215,739.10 in the previous period[27] - Long-term borrowings rose by 104.69% to ¥1,248,600,000, primarily due to increased bank loans[11] - Long-term borrowings rose significantly to ¥1,248,600,000.00, compared to ¥610,000,000.00 in the previous period, indicating a 104.1% increase[27] Cash Flow - The cash flow from operating activities was ¥38,342,797.32, a decrease of 29.28% from the same period last year[5] - Cash flow from operating activities netted $38.34 million, down 29.28% from $54.22 million, mainly due to declining revenue[14] - Cash received from government subsidies rose by 864.53% to $83.09 million from $8.61 million, reflecting increased government support[14] - Cash and cash equivalents increased by 629.86% to $200.42 million from a decrease of $37.82 million in the previous year[14] - Net cash flow from operating activities was $38,342,797.32, a decrease from $54,218,604.87 in the previous period[33] - Cash inflow from investment activities totaled $403,368,522.95, compared to $188,217,619.36 previously[33] - Net cash flow from financing activities was $808,328,229.49, up from $362,586,721.55 in the prior period[34] Investment and Income - Investment income increased significantly by 3,529.23% to $26.54 million from $731,403.95, driven by higher profits from associated companies[13] - The company reported a significant increase in non-operating income, which rose by 28,951.33% to $50.35 million from $173,297.87, mainly from government subsidies[13] - The company reported a significant increase in investment income to ¥26,544,308.36, compared to ¥731,403.95 in the previous period[29] Operational Metrics - The sales expense ratio for the reporting period was 34.06%, indicating a focus on optimizing the marketing system[9] - Sales expenses decreased by 40.59% to $128.40 million from $216.11 million, mainly due to reduced promotional activities[13] - The company reported a decrease in cash received from sales of goods and services to ¥251,950,744.34, down 65.1% from ¥721,960,355.96 in the previous period[32] Shareholder Information - The total equity attributable to shareholders of the parent company is ¥1,935,043,360.79, an increase of 3.0% from ¥1,878,454,901.15 in the previous period[27] - The company completed the registration of its 2025 stock option incentive plan, which was approved by the board and shareholders[22] - The company has a total of 34,042,876.0 shares under lock-up agreements, with 20,000 shares released during the current period[20] Government Support - The company received a government subsidy of 50 million yuan for its wholly-owned subsidiary, Guangdong Zerui Pharmaceutical Co., Ltd.[23]

证券研究报告|公司动态点评 2025 年 04 月 21 日 一品红（300723.SZ） AR882 全球 III 期临床稳步推进，BIC 药物潜力凸显 | 财务指标 | 2022A | 2023A | 2024E | 2025E | 2026E | 2027E 增持（首次评级） | | | --- | --- | --- | --- | --- | --- | --- | --- | | 营业收入（百万元） | 2,280 | 2,503 | 1,618 | 1,973 | 2,251 | 股票信息 | | | 增长率 yoy（%） | 3.7 | 9.8 | -35.4 | 21.9 | 14.1 | | | | 归母净利润（百万元） | 291 | 185 | -575 | 262 | 360 | 行业 | 医药 | | 增长率 yoy（%） | -5.3 | -36.5 | - | 145.6 | 37.4 | 2025 年 4 月 18 日收盘价（元） | 36.95 | | ROE（%） | 12.1 | 5.8 | -27.1 | 10.9 | 13.1 | 总市值（百万元） | 16,690 ...

记者4月19日从一品红（300723）获悉，公司痛风创新药AR882全球Ⅲ期临床试验REDUCE2试验近期已 完成全部患者入组，意味着AR882国内及国外临床试验全面进入关键性Ⅲ期阶段。AR882项目研发相关 负责人向记者介绍称，目前AR882已完成的全球多中心Ⅱ期临床试验数据显示，与现有疗法相比， AR882治疗痛风患者的疗效更显著，安全性更高。AR882除了能降低痛风患者的sUA水平，还能显著减 少痛风石、减轻尿酸结晶负担及降低痛风急性发作率。这一成果不仅填补了全球痛风石溶解疗法的空 白，也被国家药监局大湾区分中心列为重点品种。(上海证券报) ...

在下会议那一条的话是我们在去年的这个年底啊我们就挖掘出来在创效这个新闻里面非常具有特色的一个啊公司啊因为当时体量还不大不到一百亿啊然后呢呃我们觉得他的这个啊传统的业务啊经过了二零二四年各种数位的因素的这个影响啊啊确实已经到底部了啊然后呃在创效又这个层面上呢我觉得市场对他的认知和理解还有比较大的这个呃偏差 然后另外呢今年的话其实是从他的这个一二八八二是这个最核心的评论来看呢我认为是一个啊临床实验数据啊持续兑现的这样一个时间节点啊对于大家去理解这个评论的价值那也会有更为啊这个切身的这个感受啊可能之前大家觉得太远了他尽量的对数据的读书啊会让大家对这个评论有更深的理解啊他当然公司本身的啊缺乏解放是比较多啊就尽量的话我们也是请我们团队的这个 同事张雪在就一品红给大家做一个深入的汇报那我们在上周的话上周五也是发布了这个一品红的深度报告最近呢现在公司的股价表现非常亮眼所以呢接下来我们请张雪给大家对于一品红这个系统的这个介绍和推荐张雪您先可以开始 各位投资者晚上好,今天我们来汇报一下我们这一期重点推荐的疫情红的深度报告。其实这个报告主要还是从公司在创新研发聚焦在通风领域,并且AI882这个产品已经在全球和国内已经开展了3D银 ...

2025.04. 15 【今日推荐】 外交部回应美豁免部分商品"对等关税"：敦促美方放弃极限施压 4月14日，外交部发言人林剑主持例行记者会。有记者提问，美国加征关税政策中有部分免税有部分 加税，中方如何评论？林剑表示，事实已经并将继续证明，关税战、贸易战没有赢家，保护主义没有 出路，美国滥施关税损人害己。我们敦促美方放弃极限施压的错误做法，在平等、尊重、互惠的基础 上，通过对话解决问题。 美股三大指数冲高跳水后集体收涨，中概股普涨 美东时间周一，美股市场高开低走，盘中波动较大，三大指数盘中一度冲高后跳水转跌，但最终集体 收涨。截至收盘，道指涨0.78%，标普500指数涨0.79%，纳指涨0.64%。大型科技股涨跌不一，苹 果涨超2%，Meta跌逾2%。热门中概股多数表现强势，纳斯达克中国金龙指数涨超3%。异动个股方 面，微牛（WEBULL）大涨，盘中多次触及熔断，收盘涨幅达374.72%，报62.9美元/股。 日本大米价格连涨14周 5公斤约200元人民币 日本农林水产省14日公布的数据显示，今年3月31日至4月6日的一周，日本全国超市销售的5公斤大 米平均价格为4214日元（约合200元人民币），创下了有 ...

证券代码：300723 证券简称：一品红 公告编号：2025-017 一品红药业集团股份有限公司 2、公司《2024 年年度报告》和《2025 年第一季度报告》预计将于 2025 年 4 月 25 日披露，请投资者注意投资风险。公司已于 2025 年 1 月 23 日披露了《2024 年度业绩预告》，预计净利润为负值，出现亏损。公司 2024 年度归属于上市公司 股东的净利润预计亏损 47,226.04 万元–67,959.42 万元，归属于上市公司股东 的扣除非经常性损益后的净利润预计亏损 24,086.05 万元–34,660.41 万元（上 述数据未经审计）。截止目前，公司不存在应修正情况，也不存在应披露而未披 露的重大信息。 3、公司合作在研创新药 AR882 尚需在国内外开展Ⅲ期临床研究并经药品审 评部门审批通过后，方可上市销售,能否通过监管部门的最终批准、获批上市及 上市时间具有不确定性。AR882 目前尚未实现上市销售，未产生销售收入，对公 司近期业绩不会产生重大影响。敬请广大投资者理性投资，注意风险。 4、经公司自查，并向公司控股股东、实际控制人核实，截至本公告披露日， 确认不存在应披露而未披 ...

一品红：AR882目前尚未实现上市销售 未产生销售收入 智通财经4月14日电，一品红(300723.SZ)发布异动，公司合作在研创新药AR882尚需在国内外开展Ⅲ期 临床研究并经药品审评部门审批通过后，方可上市销售，能否通过监管部门的最终批准、获批上市及上 市时间具有不确定性。AR882目前尚未实现上市销售，未产生销售收入，对公司近期业绩不会产生重大 影响。敬请广大投资者理性投资，注意风险。 ...

证券代码：300723 证券简称：一品红 公告编号：2025-016 一品红药业集团股份有限公司 关于 2025 年股票期权激励计划授予登记完成的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 重要内容提示： 根据中国证券监督管理委员会《上市公司股权激励管理办法》、深圳证券 交易所、中国证券登记结算有限责任公司深圳分公司等有关规则的规定，经深 圳证券交易所、中国证券登记结算有限责任公司深圳分公司审核确认，一品红 药业集团股份有限公司（以下简称"公司"）完成了2025年股票期权激励计划 （以下简称"本激励计划"）授予股票期权的登记工作，具体内容如下： 一、本激励计划已履行的相关审批程序 1、2025年2月7日，公司召开第四届董事会第六次会议，会议审议通过《关 于〈公司2025年股票期权激励计划（草案）〉及其摘要的议案》《关于〈公司 2025年股票期权激励计划实施考核管理办法〉的议案》以及《关于提请公司股 东大会授权董事会办理2025年股票期权激励计划有关事宜的议案》。 同日，公司召开第四届监事会第六次会议，会议审议通过了《关于〈公司 2025年股票期权激励 ...

医药生物/化学制药 2025 年 04 月 12 日 投资评级：买入（首次） | 日期 | 2025/4/11 | | --- | --- | | 当前股价(元) | 35.18 | | 一年最高最低(元) | 35.18/12.74 | | 总市值(亿元) | 158.91 | | 流通市值(亿元) | 148.75 | | 总股本(亿股) | 4.52 | | 流通股本(亿股) | 4.23 | | 近 3 个月换手率(%) | 132.3 | 股价走势图 数据来源：聚源 -60% -30% 0% 30% 60% 90% 2024-04 2024-08 2024-12 一品红 沪深300 儿童药、慢病药多点开花，痛风新药贡献新增量 ——公司首次覆盖报告 | 余汝意（分析师） | 刘艺（联系人） | | --- | --- | | yuruyi@kysec.cn | liuyi1@kysec.cn | | 证书编号：S0790523070002 | 证书编号：S0790124070022 | 特色儿童药、慢病药主导，痛风创新药有望贡献新增量 公司创建于 2002 年，主要聚焦于儿童药、慢病药领域，目前已是集 ...