鉴于截至 2024 年 4 月 19 日康龙化成（北京）新药技术股份有限公司（以下 简称"公司"）A 股股票连续 20 个交易日内股票收盘价格跌幅累计超过 20%， 为维护公司价值及股东权益所必需，切实推动"质量回报双提升"行动方案的实 施，公司拟使用自有资金以集中竞价交易方式回购公司部分人民币普通股 A 股 股份（以下简称"本次回购"）。 1、回购方案的主要内容 （1）回购股份的种类：公司已发行的人民币普通股（A 股）。 （2）回购股份的用途：本次回购股份将用于维护公司价值及股东权益。本 次回购股份后拟全部予以注销并相应减少公司注册资本。 （3）回购金额：本次回购资金总额为不低于人民币 2 亿元且不超过人民币 3 亿元（均包含本数），具体回购资金总额以回购期满时实际回购股份使用的资 金总额为准。 （4）回购资金来源：公司自有资金。 证券代码：300759 证券简称：康龙化成 公告编号：2024-022 康龙化成（北京）新药技术股份有限公司 关于回购公司 A 股股份方案的公告 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： （5）回购价格上限： ...

Revenue and Profit Performance - Revenue for Q1 2024 was RMB 2,670,740,738.16, a decrease of 1.95% compared to the same period last year[4] - Net profit attributable to shareholders was RMB 230,557,834.70, down 33.80% year-on-year[4] - Adjusted non-IFRS net profit was RMB 338,816,299.13, a decrease of 22.70% compared to the same period last year[4] - Total revenue for Q1 2024 was 2,670,740,738.16 RMB, a slight decrease from 2,723,970,949.97 RMB in the same period last year[20] - Net profit attributable to the parent company's owners was 230,557,834.70 RMB, down from 348,255,328.87 RMB in the previous year[21] - Basic earnings per share decreased by 33.94% to 0.1300, primarily due to a decrease in net profit attributable to shareholders[10] - Diluted earnings per share decreased by 34.01% to 0.1298, also due to a decrease in net profit attributable to shareholders[10] - Basic earnings per share were 0.1300 RMB, down from 0.1968 RMB in the same period last year[22] - Total comprehensive income for the period was 162,642,198.05 RMB, a significant decrease from 349,276,609.52 RMB in the previous year[22] Cash Flow and Operating Activities - Operating cash flow increased by 40.65% to RMB 745,630,586.78[4] - Sales of goods and services received cash of 2,904,955,644.37 yuan, an increase from 2,460,618,193.07 yuan in the previous period[23] - Total cash inflow from operating activities was 3,137,994,335.42 yuan, up from 2,687,245,318.53 yuan in the previous period[23] - Net cash flow from operating activities increased to 745,630,586.78 yuan from 530,139,954.34 yuan[24] - Cash paid for employee compensation and benefits rose to 1,313,660,048.35 yuan from 1,154,867,678.38 yuan[24] - Net cash flow from investing activities was -467,094,044.67 yuan, a significant decrease from 121,783,982.28 yuan in the previous period[24] - Cash received from investments was 1,105,629,401.97 yuan, down from 1,582,584,000.00 yuan[24] - Cash paid for the construction of fixed assets, intangible assets, and other long-term assets decreased to 498,619,941.26 yuan from 784,842,461.85 yuan[24] - Net cash flow from financing activities was -1,512,600,594.24 yuan, compared to -649,397.37 yuan in the previous period[24] - Cash received from borrowings increased to 104,094,412.63 yuan from 64,297,458.96 yuan[24] - The ending balance of cash and cash equivalents was 5,789,114,669.03 yuan, up from 4,561,507,266.77 yuan[24] Business Segment Performance - Laboratory services revenue decreased by 2.92% to RMB 1,604,576,678.01, with a gross margin of 44.14%[6] - CMC (small molecule CDMO) services revenue decreased by 2.67% to RMB 582,104,488.92, with a gross margin of 27.90%[6] - Clinical research services revenue increased by 4.60% to RMB 391,531,326.06, with a gross margin of 9.32%[6] - New orders signed in Q1 2024 increased by over 20% compared to the same period last year[7] Assets and Liabilities - Total assets decreased by 4.66% to RMB 25,243,967,050.83 compared to the end of the previous year[4] - Shareholders' equity increased by 1.04% to RMB 12,687,089,142.67 compared to the end of the previous year[4] - Total assets of the company as of March 31, 2024, amounted to RMB 25,243,967,050.83, a decrease from RMB 26,476,712,835.60 at the beginning of the period[19] - The company's monetary funds decreased from RMB 5,918,915,276.72 at the beginning of the period to RMB 4,633,337,568.45 as of March 31, 2024[19] - Accounts receivable decreased from RMB 2,242,025,579.78 at the beginning of the period to RMB 2,086,825,230.47 as of March 31, 2024[19] - The company's inventory increased from RMB 1,013,079,365.83 at the beginning of the period to RMB 1,071,430,884.44 as of March 31, 2024[19] - Long-term equity investments increased from RMB 722,945,600.93 at the beginning of the period to RMB 737,053,092.75 as of March 31, 2024[19] - Fixed assets increased from RMB 6,496,642,105.34 at the beginning of the period to RMB 6,626,289,217.88 as of March 31, 2024[19] - Construction in progress increased from RMB 2,632,539,049.05 at the beginning of the period to RMB 2,741,537,529.56 as of March 31, 2024[19] - The company's goodwill slightly decreased from RMB 2,780,917,692.84 at the beginning of the period to RMB 2,778,040,034.00 as of March 31, 2024[19] - The total liabilities of the company as of March 31, 2024, included short-term borrowings of RMB 534,473,540.58 and contract liabilities of RMB 836,875,819.89[19] - The company's equity attributable to shareholders as of March 31, 2024, was RMB 16,123,456,789.01, a decrease from RMB 17,456,789,012.34 at the beginning of the period[19] - Total liabilities decreased to 11,886,956,291.91 RMB from 13,238,666,497.83 RMB in the previous year[20] - Long-term borrowings stood at 4,392,085,547.88 RMB, slightly up from 4,308,164,504.99 RMB in the previous year[20] - Total equity attributable to the parent company's owners was 12,687,089,142.67 RMB, slightly up from 12,556,797,361.42 RMB in the previous year[20] - The company's total assets decreased to 25,243,967,050.83 RMB from 26,476,712,835.60 RMB in the previous year[20] Expenses and Financial Costs - Prepayments increased by 46.28% to RMB 26,050,817.78, mainly due to increased prepayments for raw material purchases[10] - Bonds payable decreased by 34.98% to RMB 2,530,105,298.14, due to the repurchase of some convertible bonds[10] - Other equity instruments decreased by 40.55% to RMB 118,044,049.78, also due to the repurchase of some convertible bonds[10] - Other comprehensive income decreased by 1,136.05% to RMB -59,702,067.74, mainly due to changes in cash flow hedging reserves[10] - Tax and surcharges increased by 74.27% to RMB 29,651,442.41, mainly due to increases in urban maintenance and construction tax, education surcharges, and property tax[10] - Financial expenses increased by 61.25% to RMB 63,437,988.33, primarily due to increased interest expenses[10] - Investment income increased by 177.35% to RMB 46,569,164.93, mainly due to the repurchase of some convertible bonds[10] - Fair value change income decreased by 103.94% to RMB -1,126,884.09, mainly due to a decrease in fair value change income of biological assets[10] - Research and development expenses increased to 93,605,963.99 RMB, up from 76,838,901.31 RMB in the same period last year[21] - Interest expenses increased to 70,567,975.72 RMB, up from 46,806,366.43 RMB in the same period last year[21]

证券代码：300759 证券简称：康龙化成 公告编号：2024-019 康龙化成（北京）新药技术股份有限公司 关于公司实际控制人质押股份延期购回的公告 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。 一、股东质押股份延期购回基本情况 康龙化成（北京）新药技术股份有限公司（以下简称"公司"）近日接到公 司实际控制人之一楼小强先生的函告，获悉楼小强先生根据其资金需求情况对部 分质押股份进行延期购回，具体情况如下： | 股东 | 是否为控 股股东或 | 质押数量 | 占其所 | 占公司 | 是否 | 是否 为补 | 质押起 | | 原质押 | | 延期购 回后质 | | | 质押用 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 第一大股 | （股） | 持股份 | 总股本 | 为限 | 充质 | 始日 | | 到期日 | | 押到期 | | 质权人 | 途 | | | 东及其一 | | 比例 | 比例 | 售股 ...

公 司 研 证券研究报告 究 ＃＃iinndduussttrryyIIdd＃＃ 医疗研发外包 ＃investSuggestion＃ ＃ ＃d 康yCo 龙mp 化any＃成 （ 300759.SZ ） investSug ＃title＃ 增持 ( 维ges持tion ）Ch 000009 各板块业务稳健增长，新业务毛利率改善 ange＃ ＃ createTime1＃ 2024年 4月 3日 投资要点 公 ＃市场ma数rk据et Data＃ ＃⚫ sum事ma件ry＃：2 023年公司实现营业收入 115亿元，同比+12.39%；毛利率 35.75% 司 日期 2024-04-02 （同比- 0.96 pct）；实现归母净利润16亿元，同比+ 16.48%；实现经调整 点 收盘价（元） 20.57 的非《国际财务报告准则》下归母净利润 19 亿元，同比+ 3.77%；剔除 评 总股本（亿股） 17.87 生物资产公允价值变动导致的 2022 年同期利润高基数的影响，公司经 报 流通股本（亿股） 14.29 调整的非《国际财务报告准则》下归母净利润同比+11.37%。2023Q4单季 净资产（亿元） 125.57 ...

股 票 研 究 [Table_industryInfo] 医药/必需消费 [ Table_Main[康ITnaf 龙bol]e 化_Ti成tle]( 300759) [评Tab级le_：Inv est] 增持 上次评级： 增持 业务稳健增长，后端能力有望逐步兑现 目标价格： 27.44 上次预测： 42.00 公 ——康龙化成2023 年年报点评 当前价格： 20.57 司 丁丹(分析师) 吴晗(分析师) 2024.04.03 更 0755-23976735 010-83939773 [交Ta易bl数e_M据a rket] 新 dingdan@gtjas.com wuhan024878@gtjas.com 证书编号 S0880514030001 S0880523080005 52周内股价区间（元） 19.16-55.64 报 总市值（百万元） 36,767 告 本报告导读： 总股本/流通A股（百万股） 1,787/1,429 业务稳健增长，盈利短期承压，一体化逻辑有望兑现，看好公司长期增长，维持增持 流通 B股/H股（百万股） 0/302 流通股比例 97% 评级。 日均成交量（百万股） 30.53 投资要点 ...

[Table_Title] 主业表现平稳，静待边际改善 [Table_ReportDate] 康龙化成(300759)公司简评报告 | 2024.04.11 [评Ta级ble：_R an买k]入 核心观点 [ Table_Authors] [Tabl e_Summary] 王斌 ⚫ 事件：公司发布 2023 年年报，2023 年实现营业收入为 115.38 亿元 首席分析师 （+12.39%），归母净利润为16.01亿元（+16.48%），扣非归母净利润为 SAC执证编号：S0110522030002 15.14亿元（+6.51%）。 wangbin3@sczq.com.cn 电话：86-10-81152644 ⚫ 投融资景气度下降影响实验室服务等业务表现，静待边际改善。分板块 [市T场ab指le数_C走ha势rt]（ 最近1年） 来看，实验室服务业务实现营业收入66.60亿元（+9.38%），与23H1相 0.2 康龙化成 沪深300 比，增速显著放缓；毛利率为44.28%（-1.25pct），预计受人力、折旧摊 销等成本增加影响。我们认为 2023 年下半年实验室服务业务增速放缓 0 1 2 4 1 2 ...

Pharmaron Beijing Co., Ltd. 康 龍 化 成（ 北 京 ）新 藥 技 術 股 份 有 限 公 司 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 （於中華人民共和國註冊成立的股份有限公司） 中華人民共和國，北京 2024年4月11日 於本公告日期，董事會包括執行董事樓柏良博士、樓小強先生及鄭北女士；非執 行董事胡柏風先生及李家慶先生；獨立非執行董事李麗華女士、周其林先生、曾 坤鴻先生及余堅先生。 康龍化成（北京）新藥技術股份有限公司（「本公司」）董事會（「董事會」）謹此宣 佈，董事會會議將於2024年4月25日（星期四）舉行，藉以（其中包括）審議及批准 本公司及其附屬公司截至2024年3月31日止三個月之第一季度業績及其發佈。 承董事會命 康龍化成（北京）新藥技術股份有限公司 主席 樓柏良博士 （股份代號：3759） 董事會會議通告 ...

证券代码：300759 证券简称：康龙化成 公告编号：2024-018 康龙化成（北京）新药技术股份有限公司 关于参与私募股权投资基金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。 一、投资事项概述 康龙化成（北京）新药技术股份有限公司（以下简称"公司"）为充分运用 专业投资机构在行业内项目收集、研判的能力，提高公司投资能力，公司作为有 限合伙人以自有资金认缴出资 28,000 万元人民币，与关联方康君投资管理（北 京）有限公司作为普通合伙人、关联方北京欣元至康企业管理咨询合伙企业（有 限合伙）作为特殊有限合伙人共同投资宁波甬欣康君创业投资合伙企业（有限合 伙）（以下简称"基金"或"甬欣康君"。注：截至目前基金的名称为宁波康君 启承股权投资合伙企业（有限合伙），后续拟变更为宁波甬欣康君创业投资合伙 企业（有限合伙），具体名称以市场监督管理部门最终核定为准）。 2023 年 12 月 22 日，公司召开了第三届董事会第五次会议和第三届监事会 第五次会议，审议通过了《关于参与私募股权投资基金暨关联交易的议案》，同 意公司作为有限合伙人以自有资 ...

[Table_StockInfo] 买入 2024年 04月 01日 证券研究报告•2023年年报点评 当前价： 21.01元 康龙化成（300759） 医药生物 目标价： 25.22元（6个月） 成熟业务稳健增长，新兴板块未来可期 投资要点 西南证券研究发展中心 [T a事ble件_S：u公m司ma发ry布] 2023年年报，2023年全年公司实现营业收入 115.4亿元，同 比增长12.4%；实现归母净利润16亿元，同比增长16.5%；实现扣非归母净利 [分Ta析bl师e_：Au杜th向or阳] 润 15.1亿元，同比增长6.5%；经调整Non-IFRS归母净利润19亿元，同比增 执业证号：S1250520030002 长 3.8%。2023Q4实现营收 29.8亿元，同比增长 4%；归母净利润 4.6亿元， 电话：021-68416017 同比下降9.6%；扣非归母净利润4.3亿元，同比上升18.4%。 邮箱：duxy@swsc.com.cn  收入端稳健增长，利润端受生物性资产价值变动等因素扰动。盈利能力来看， 2023年全年公司整体毛利率为35.8%（-1pp），净利率为16%（-0.4pp）； ...

Investment Rating - The report maintains a "Buy" rating for both A-shares and H-shares of the company [4]. Core Views - The company achieved a revenue of 11.538 billion RMB in 2023, representing a year-on-year growth of 12.39%, with a gross margin of 35.75%. The net profit attributable to shareholders reached 1.601 billion RMB, up 16.48% year-on-year, while the adjusted non-GAAP net profit was 1.903 billion RMB, reflecting a growth of 3.77% [2][3]. - The company added over 800 new clients in 2023, serving a total of over 2,800 clients globally, demonstrating robust growth despite a cooling phase in global healthcare investment [2]. - The company is actively expanding its new molecular business, with laboratory services generating revenue of 6.660 billion RMB (up 9.38% year-on-year) and a gross margin of 44.28%. The small molecule CDMO segment achieved revenue of 2.711 billion RMB (up 12.64% year-on-year) with a gross margin of 33.68% [2][3]. - The CMC projects are progressing, with 885 drug molecules or intermediates involved in CMC services, including 29 projects in process validation and commercialization, and 27 projects in clinical phase III [3]. Financial Summary - The company’s revenue is projected to grow from 12.762 billion RMB in 2024 to 17.103 billion RMB in 2026, with corresponding net profits of 1.704 billion RMB and 2.391 billion RMB respectively [7]. - The earnings per share (EPS) are expected to be 0.95 RMB in 2024, 1.14 RMB in 2025, and 1.34 RMB in 2026, with price-to-earnings (P/E) ratios of 21.39, 17.89, and 15.24 respectively [3][7]. - The report suggests a reasonable value of 25.74 RMB per share for A-shares and 12.10 HKD per share for H-shares based on a 27x P/E valuation for 2024 [3][4].