Financial Performance - The company achieved operating revenue of 5.604 billion yuan, a slight decrease of 0.63% compared to the same period last year [2] - Net profit attributable to shareholders was 1.113 billion yuan, an increase of 41.64% year-on-year [2] - Adjusted net profit under non-IFRS was 690 million yuan, a decrease of 25.93% year-on-year [2] Business Growth - New signed orders increased by over 15% year-on-year, with more than 2,200 global clients served and over 360 new clients added [3] - Revenue from clients in North America accounted for 65.45%, Europe (including the UK) 16.87%, China 15.03%, and other regions 2.65% [3] Segment Performance - Laboratory Services: Revenue of 3.371 billion yuan, a decrease of 0.27%, with a gross margin of 44.46% [3] - CMC (Small Molecule CDMO) Services: Revenue of 1.176 billion yuan, a decrease of 6.04%, with a gross margin of 28.30% [3] - Clinical Research Services: Revenue of 843 million yuan, an increase of 4.73%, with a gross margin of 12.55% [3] - Large Molecule and Cell & Gene Therapy Services: Revenue of 211 million yuan, an increase of 5.49%, with a gross margin of -31.34% [3] Strategic Insights - The company anticipates a steady increase in demand from top 20 pharmaceutical companies, with expectations of further revenue growth as CMC projects are delivered [4] - The company is actively planning for capacity expansion in Shaoxing to meet growth demands [4] - The company aims to achieve positive free cash flow with a capital expenditure of 950 million yuan in the first half of 2024, slightly lower than the previous year's 2.8 billion yuan [5]

Investment Rating - The report assigns a "Buy" rating for Kanglong Chemical (300759) based on its performance and growth potential [1]. Core Views - The company reported a slight decline in revenue for H1 2024, with total revenue at 56.04 billion yuan, a year-on-year decrease of 0.63%. However, net profit attributable to shareholders increased by 41.64% to 11.13 billion yuan [1]. - New orders have shown a positive trend, with a year-on-year growth of over 15%, indicating a potential recovery in business performance [1]. - The company is expected to see revenue growth in the second half of 2024, driven by an increase in new orders and improved operational capacity [1]. Financial Performance Summary - For H1 2024, the company achieved a gross margin of 33.39%, a decrease of 2.94 percentage points year-on-year, while the net profit margin increased by 5.93 percentage points to 19.87% [1]. - The company’s revenue from laboratory services was 33.71 billion yuan, with a gross margin of 44.46%. New orders in this segment grew by over 10% [1]. - In the CMC services segment, revenue was 11.76 billion yuan, with a gross margin of 28.30%, and new orders increased by over 25% [1]. - The clinical research services segment reported revenue of 8.43 billion yuan, with a gross margin of 12.55% [1]. - The company added over 360 new clients in H1 2024, bringing the total active clients to over 2,200 [1]. Revenue Forecast - The company is projected to achieve revenues of 127.66 billion yuan, 144.92 billion yuan, and 168.79 billion yuan for the years 2024, 2025, and 2026, respectively, representing year-on-year growth rates of 10.6%, 13.5%, and 16.5% [2]. - Net profit attributable to shareholders is expected to be 16.73 billion yuan, 20.48 billion yuan, and 25.62 billion yuan for the same years, with growth rates of 4.5%, 22.4%, and 25.1% [2].

公司快报 2024 年 08 月 28 日 康龙化成(300759.SZ) 新签订单及时回暖，公司经营稳中向好 且 2024H2 有望环比改善 事件： 2024 年 8 月 27 日公司发布 2024 年半年度报告，2024H1 公司实现营 收 56.04 亿元，同比下降 0.63%；实现归母净利润 11.13 亿元，同比 增长 41.64%。 得益于参股公司 PROTEOLOGIX 被合并收购，2024H1 利润实现强 劲增长： 收入端，2024H1 公司实现营收 56.04 亿元，同比下降 0.63%。其中， 实验室服务、CMC、临床研究服务、大分子和细胞与基因治疗服务分 别实现营收 33.71 亿元（-0.27%）、11.76 亿元（-6.04%）、8.43 亿元 （+4.73%）、2.11 亿元（+5.49%）。 利润端，2024H1 公司实现归母净利润 11.13 亿元，同比增长 41.64%。 得益于参股公司 PROTEOLOGIX 被合并收购，公司利润端实现强劲增 长。 各项业务有望持续改善，公司经营稳中向好： 得益于新签订单的及时回暖，公司各项业务有望持续改善，公司持续 实现稳健发展。其中，实 ...

Financial Performance - Total revenue for the six months ended June 30, 2024, was approximately RMB 5,604.5 million, a decrease of about RMB 35.7 million or 0.6% compared to the same period in 2023[2] - Profit attributable to equity holders of the parent company was approximately RMB 1,113.4 million, an increase of about 41.6% compared to RMB 786.1 million in the same period of 2023[2] - Net cash flow from operating activities was approximately RMB 1,099.7 million, a decrease of about 14.1% compared to RMB 1,280.2 million in the same period of 2023[2] - Gross profit for the six months ended June 30, 2024, was approximately RMB 1,848.1 million, a decrease of 9.3% compared to RMB 2,037.4 million in the same period of 2023[2] - The company recorded other income and gains of RMB 776.3 million, significantly up from RMB 131.7 million in the same period of 2023[3] - The group reported a pre-tax profit of RMB 1,226,851,000, compared to RMB 908,525,000 for the same period in 2023, marking an increase of approximately 35%[16] - The company’s adjusted net profit under non-IFRS was RMB 690.3 million, down from RMB 931.9 million in the previous year[53] Revenue Breakdown - For the six months ended June 30, 2024, total revenue reached RMB 5,604,463,000, a slight decrease of 0.6% compared to RMB 5,640,118,000 for the same period in 2023[16] - The laboratory services segment generated revenue of RMB 3,371,177,000, accounting for approximately 60% of total revenue, while the CMC (small molecule CDMO) services segment contributed RMB 1,175,747,000[16] - The clinical research services segment achieved revenue of RMB 843,269,000, reflecting an increase of 4.7% from RMB 805,193,000 in the prior year[16] - Revenue from North America was RMB 3,668,223,000, a decrease of 0.2% from RMB 3,675,469,000 in the previous year[18] - Revenue from Europe increased by 10% to RMB 945,577,000 from RMB 859,776,000 in 2023[18] - Revenue from mainland China decreased by 13.2% to RMB 842,603,000 from RMB 970,977,000 in 2023[18] Expenses and Costs - The group incurred administrative expenses of RMB 841,221,000, which is consistent with the previous year's expenses of RMB 845,440,000[16] - Research and development costs amounted to RMB 207,798,000, up from RMB 182,179,000 in the same period last year, representing an increase of approximately 14.1%[16] - The company reported a total of RMB 2,137,594,000 in employee costs, an increase from RMB 2,029,553,000 in 2023[27] Assets and Liabilities - Total assets as of June 30, 2024, amounted to RMB 25,340.7 million, compared to RMB 25,186.5 million as of December 31, 2023[7] - Current assets decreased to RMB 7,071.2 million from RMB 10,874.4 million as of December 31, 2023, indicating a significant reduction in liquidity[7] - Non-current liabilities decreased to RMB 5,414.3 million from RMB 9,584.2 million as of December 31, 2023, reflecting a reduction in long-term debt obligations[8] - Trade receivables as of June 30, 2024, totaled RMB 2,179.3 million, down from RMB 2,242.2 million at the end of 2023[30] - Trade payables amounted to RMB 503.0 million, an increase from RMB 412.2 million at the end of 2023[32] Dividends and Shareholder Returns - The company decided not to declare any interim dividend for the six months ended June 30, 2024[2] - The company declared a final dividend of RMB 0.2 per share for the year ended December 31, 2023, totaling RMB 353,963,000[28] - The company plans to distribute a final dividend of RMB 0.2 per share to A-share and H-share shareholders, with the record date set for July 8, 2024[160] Employee and Workforce - The company employed a total of 20,342 staff, with 89.7% in R&D, production technology, and clinical services[38] - As of June 30, 2024, the company employed 20,342 staff, an increase from 20,295 employees on December 31, 2023, indicating a growth in workforce[149] - The company has a workforce of 18,241 R&D, production technology, and clinical service personnel across China, the UK, and the US, ensuring high-quality service delivery[121] Strategic Initiatives and Growth - The company continues to focus on expanding its integrated pharmaceutical R&D services platform globally, enhancing its capabilities in drug innovation[12] - The company has signed new contracts with a total value that increased by over 15% compared to 2023[34] - The company is collaborating with over 650 hospitals and clinical trial centers across more than 140 cities in China, with ongoing projects exceeding 1,500[47] - The company has established a leading integrated pharmaceutical R&D service platform, providing comprehensive services for drug discovery, preclinical, and clinical development[106] - The company aims to enhance its integrated drug development service platform, focusing on small molecule research and expanding into large molecule and gene therapy services[129] Risks and Challenges - The pharmaceutical research and development outsourcing industry may experience slower growth due to fluctuations in investment sentiment, which could negatively impact the company's performance[138] - The company is at risk of losing qualified research and development personnel due to competition from pharmaceutical and biotech firms, which could affect service quality[138] - The company faces risks related to intellectual property protection, as unauthorized disclosure of client information could lead to significant reputational damage[141] - Regulatory compliance is critical, as failure to meet standards could result in operational suspension or penalties[142] - The company is exposed to foreign exchange risks, particularly with the US dollar, British pound, and euro, and will continue to engage in hedging transactions to reduce this risk[144] Incentive Plans - Under the 2021 A-share incentive plan, the maximum number of restricted A-shares to be issued is 1,741,950, representing approximately 0.10% of the total issued shares as of June 30, 2024[64] - The 2022 A-share incentive plan allows for the issuance of a maximum of 3,304,800 restricted A-shares, accounting for approximately 0.18% of the total issued shares as of June 30, 2024[76] - The 2023 A-share incentive plan was approved by shareholders on June 21, 2023, aiming to enhance corporate governance and retain key personnel[85] Acquisitions and Investments - The company has completed the sale of its stake in PROTEOLOGIX, INC. to Johnson & Johnson for approximately USD 102 million, receiving a net payment of USD 86.195 million after transaction costs[102] - The company has acquired approximately 78.5% of Shanghai Jiying Intelligent Technology Co., Ltd. for a total investment of RMB 43.0 million, enhancing its capabilities in AI technology[102] - The company has signed a strategic cooperation agreement with AstraZeneca Investment (China) Co., Ltd. for a comprehensive investment in the AstraZeneca Fund, increasing its total investment in the fund to RMB 191 million, accounting for 8.46% of the total subscription[104]

北京市中伦律师事务所 关于康龙化成（北京）新药技术股份有限公司 2021 年 A 股限制性股票激励计划第三个归属期归属 条件成就但股票暂不上市、2022 年 A 股限制性股票激 励计划第二个归属期归属条件成就但股票暂不上市 及 2021 年、2022 年、2023 年 A 股限制性股票激励计 划相关授予事项调整及部分限制性股票作废事项的 致：康龙化成（北京）新药技术股份有限公司 根据康龙化成（北京）新药技术股份有限公司（以下简称"康龙化成"、"公 司"）与北京市中伦律师事务所（以下简称"本所"）签订的《法律服务合同》的 约定及受本所指派，本所律师作为公司 2021 年 A 股限制性股票激励计划（以下 简称"2021 年激励计划"）、2022 年 A 股限制性股票激励计划（以下简称"2022 年激励计划"）、2023 年 A 股限制性股票激励计划（以下简称"2023 年激励计 划"）相关事宜的法律顾问，出具本法律意见书。 为出具本法律意见书，本所律师审阅了《康龙化成（北京）新药技术股份有 限公司 2021 年 A 股限制性股票激励计划》（以下简称"《2021 年激励计划》"）、 1 法律意见书 $$\Xi\,{ ...

证券代码：300759 证券简称：康龙化成 公告编号：2024-053 1、股东大会届次：2024 年第一次临时股东大会 2、股东大会的召集人：公司董事会。 康龙化成（北京）新药技术股份有限公司 关于召开 2024 年第一次临时股东大会的通知 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。 3、会议召开的合法、合规性：本次临时股东大会的召集、召开程序符合有 关法律、行政法规、部门规章、规范性文件和公司章程的规定。 4、会议召开的时间： （1）现场会议召开时间：2024 年 9 月 13 日（星期五）14:30； 经康龙化成（北京）新药技术股份有限公司（以下简称"公司"）于 2024 年 8 月 27 日召开的第三届董事会第九次会议审议通过，决定召开公司 2024 年第一 次临时股东大会（以下简称"临时股东大会"）。现将 A 股股东参与本次股东大 会相关事项通知如下： 一、召开会议的基本情况 （2）网络投票：公司通过深圳证券交易所交易系统和互联网投票系统 （http://wltp.cninfo.com.cn）向公司股东提供网络形式的投票平台，公司股东可以 在上述 ...

2024 年半年度非经营性资金占用及其他关联资金往来情况汇总表 上市公司名称：康龙化成（北京）新药技术股份有限公司 单位：万元 | | 康龙化成（成都）临床 | 子公司 | 其他应收款 | 10,700.00 | 6,000.00 | 217.48 | | 16,917.48 资金拆借 | 非经营性往来 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 研究服务有限公司 | | | | | | | | | | | 康龙化成（西安）科技 发展有限公司 | 子公司 | 其他应收款 | 3,050.00 | 7,500.00 | | | 10,550.00 资金拆借 | 非经营性往来 | | | 康龙化成（青岛）新药 技术有限公司 | 子公司 | 其他应收款 | 9,090.00 | 4,400.00 | | 4,900.00 | 8,590.00 资金拆借 | 非经营性往来 | | | 康龙化成（北京）科技 发展有限公司 | 子公司 | 其他应收款 | 13,200.33 | 19,800.00 | | 22,400.00 | ...

上海信公轶禾企业管理咨询有限公司 关于 康龙化成（北京）新药技术股份有限公司 2022 年 A 股限制性股票激励计划 第二个归属期归属条件成就相关事项 之 独立财务顾问报告 独立财务顾问： 二〇二四年八月 上海信公轶禾企业管理咨询有限公司 独立财务顾问报告 目 录 | 第一章 | 声 明 3 | | | --- | --- | --- | | 第二章 | 释 义 5 | | | 第三章 | 基本假设 7 | | | 第四章 | 本激励计划履行的审批程序 8 | | | 第五章 | 本激励计划第二个归属期归属条件成就情况 10 | | | | 一、董事会就本次激励计划设定的限制性股票归属条件是否成就的审议情况 | 10 | | 二、第二个归属期情况 | | 10 | | | 三、第二个归属期归属条件成就的说明 | 10 | | | 四、本次实施的激励计划与已披露的激励计划相关情况的差异 | 11 | | 第六章 | 本次限制性股票可归属的具体情况 13 | | | | 一、本次可归属的激励对象及归属数量 | 13 | | | 二、本次归属条件成就之日和第二个归属期限制性股票继续禁售的说明 | 13 | | 第七 ...

证券代码：300759 证券简称：康龙化成 公告编号：2024-056 康龙化成（北京）新药技术股份有限公司 第三届监事会第八次会议决议公告 本公司及监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。 一、监事会会议召开情况 康龙化成（北京）新药技术股份有限公司（以下简称"公司"）第三届监事 会第八次会议于 2024 年 8 月 27 日以通讯方式召开，本次会议通知于 2024 年 8 月 23 日以邮件形式向全体监事发出。会议应出席监事 3 名，实际出席监事 3 名。 本次会议由监事会主席 Kexin Yang 博士主持，公司董事会秘书列席了本次会议。 本次会议的召集和召开符合《中华人民共和国公司法》等有关法律、行政法规、 部门规章、规范性文件和《康龙化成（北京）新药技术股份有限公司章程》的规 定。 二、监事会会议审议情况 1 表决结果：3 票同意，0 票反对，0 票弃权。 （二）审议通过《关于拟续聘 2024 年度境内财务及内控审计机构的议案》 公司监事会同意续聘安永华明会计师事务所（特殊普通合伙）为公司 2024 年度境内财务及内控审计机构。 具体内容详见公司于同日 ...

证券代码：300759 证券简称：康龙化成 公告编号：2024-060 康龙化成（北京）新药技术股份有限公司 关于作废失效 2021 年、2022 年、2023 年 A 股限制性股票激励 计划部分已授予但尚未归属的限制性股票的公告 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、误导性陈述或者重大遗漏。 康龙化成（北京）新药技术股份有限公司（以下简称"公司"或"康龙化 成"）于 2024 年 8 月 27 日召开第三届董事会第九次会议、第三届监事会第八次 会议，审议通过了《关于作废失效 2021 年、2022 年、2023 年 A 股限制性股票 激励计划部分已授予但尚未归属的限制性股票的议案》，现将有关事项说明如 下： 一、本次作废失效限制性股票的具体情况 根据公司《2021 年 A 股限制性股票激励计划》《2022 年 A 股限制性股票激 励计划》《2023年 A 股限制性股票激励计划》的有关规定及公司 2021年第一次 临时股东大会、2021 年第二次 A 股类别股东大会及 2021 年第二次 H 股类别股 东大会，2021 年年度股东大会、2022 年第二次 A 股类别股东大会 ...