证券代码：300759 证券简称：康龙化成 康龙化成（北京）新药技术股份有限公司投资者关系活动记录表 编号：2025-03 问：请问目前中美关税情况对公司是否有影响？ 答：截至目前，美国加征关税对公司业务产生的影响有限。公司主要 是为客户提供研发服务，CMC 涉及的商业化货物出口的业务占比较 小，目前公司并未收到客户或其他合作伙伴向公司反馈关税问题对业 务合作造成影响。对于宏观的不确定性风险，公司会密切关注相关政 策动向。地缘政治背景下，也敬请投资者注意投资风险。 问：小分子 CDMO 产能利用率和毛利率趋势？ 答：从目前公司管线看，预计公司交付项目和收入规模会进一步提 高，产能利用率和毛利率也会同比提升。 | | □特定对象调研 □分析师会议 | | --- | --- | | | □媒体采访 □业绩说明会 | | 投资者关系 活动类别 | □新闻发布会 √路演活动 | | | □现场参观 | | | □其他 | | 参与单位名称及 | | | 人员姓名 | Manulife、TruMed、SinoPac、Library Group、华凯资产管理 | | 时 间 | 年 月 日 2025 4 24 | | ...

消息面上，相关机构近期表示，创新药仍处于产业加速向上的周期，今年也有强基本面的兑现支撑。在 既往ADC、PD1/VEGF等技术爆发之后，TCE、ProTac等新技术已经看到萌芽开花；同时，创新药从可 预期的BD潮走向盈利潮，以往大家对创新药的疑虑是研究壁垒高、企业没盈利，因此不敢投，但随着 未来企业的收入高增速带动利润的快速提升，就进入了投资者可理解的范畴内。 港股创新药板块高盈利持续消化估值。港股创新药指数2月21日市盈率为64倍，4月24日最新市盈率仅为 27倍，不足两个月前的一半，当前布局性价比突出。 4月24日，港股市场低开震荡，港股创新药板块全面爆发。港股创新药指数成分股中，凯莱英涨超 17%，荣昌生物、亚盛医药-B、康方生物涨超7%，信达生物、联邦制药涨超6%，康龙化成、三生制药 涨超4%。港股创新药ETF（159567）连续2个交易日成交额超9亿元，市场关注度较高。 西南证券表示，创新药板块的投资价值在于其背后的新质生产力和高质量发展的大背景。随着各地政府 不断出台支持创新药的政策，如北京、深圳等地发布的支持创新药政策，这些政策不仅加强了对创新药 械研发、生产、审批、使用的全链条支持，还促进了健 ...

港股创新药板块盘初拉升，凯莱英（002821）涨超9%，荣昌生物涨超7%，信达生物、君实生物、康龙 化成（300759）纷纷上扬。 无需港股通，A股账户就能T+0买港股>> ...

Core Viewpoint - The report from China Europe Fund highlights the performance and strategic outlook of three funds managed by renowned fund manager Ge Lan, focusing on the healthcare and innovation sectors, indicating a positive trend in the Chinese pharmaceutical and medical device markets [1][3]. Fund Performance - The largest fund, China Europe Healthcare Mixed Fund, reported a net value growth rate of 2.37% for Class A shares and 2.17% for Class C shares, outperforming the benchmark return of 0.46% during the same period [3]. - The top ten holdings of the fund include major companies such as Heng Rui Medicine, WuXi AppTec, and Mindray Medical, with notable changes in the portfolio compared to the end of 2024 [3]. Market Environment - The overall policy environment continues to support innovation while reinforcing compliance, with the National Medical Insurance Administration exploring a new category for Class B drugs, which expands payment options for innovative drugs [3]. - The normalization of anti-corruption and price governance in the pharmaceutical sector is leading companies to enhance their academic promotion systems, fostering a healthier and more sustainable domestic medical market [3]. Innovation and Collaboration - The report emphasizes the acceleration of research and development in innovative drugs, particularly in areas like multi-antibody and ADC technologies, with increasing collaboration between domestic companies and international firms [4]. - Key clinical data disclosures and ongoing global partnerships are expected to enhance the competitiveness of Chinese companies in the ADC, multi-antibody, and peptide sectors [4]. Consumer Healthcare and Medical Devices - The consumer healthcare sector is anticipated to see structural opportunities, particularly in aesthetic medicine and ophthalmology, driven by rising health management awareness among residents [4]. - The demand for home medical devices is projected to grow steadily due to the aging population, while the medical device sector is recovering, with significant growth in domestic bidding data observed in the first quarter [4].

金融界2025年4月21日消息，中欧医疗健康混合A(003095) 最新净值1.5603元，增长1.85%。该基金近1个 月收益率-1.41%，同类排名1379|4672；近3个月收益率2.56%，同类排名1469|4599；今年来收益 率-0.54%，同类排名2715|4590。 公开资料显示，中欧医疗健康混合A基金成立于2016年9月29日，截至2024年12月31日，中欧医疗健康 混合A规模159.10亿元，基金经理为葛兰。 简历显示：葛兰女士:中国籍。美国西北大学生物医学工程专业博士。历任国金证券股份有限公司研究 所研究员,民生加银基金管理有限公司研究员。2014年10月加入中欧基金管理有限公司,曾任研究员、中 欧明睿新起点灵活配置混合型证券投资基金基金经理(2015年1月29日起至2016年4月22日)、中欧瑾泉灵 活配置混合型证券投资基金基金经理(2015年3月16日起至2016年4月22日)、中欧瑾源灵活配置混合型证 券投资基金基金经理(2015年3月31日起至2016年4月22日)、中欧瑾和灵活配置混合型证券投资基金基金 经理(2015年4月13日起至2016年4月22日)。现任中欧医疗健康混 ...

Group 1: Market Trends and Projections - The global and Chinese pharmaceutical industry demand is expected to continue increasing, driven by the pursuit of health and longevity [2] - By 2030, the scale of drug research and production outsourcing services in China is projected to reach 482.3 billion RMB, with a market share of approximately 19.5% [3] Group 2: Impact of Tariffs and Geopolitical Factors - The impact of U.S. tariffs on the company's business has been limited, as the export of commercialized goods related to CMC constitutes a small portion of operations [3] - The company will closely monitor policy developments and geopolitical risks, advising investors to remain aware of investment risks [2][3] Group 3: Domestic Market Dynamics - The Chinese healthcare system has significantly increased its payment support for innovative drugs, with the proportion of innovative drug payments in overall healthcare spending showing notable improvement in recent years [2] - Chinese companies are increasingly demonstrating global competitiveness through various strategies such as licensing, NewCo formations, and mergers and acquisitions to access global markets [2]

Investment Rating - The investment rating for the company is "Buy" [7] Core Views - The company has shown a strong performance in its CDMO (Contract Development and Manufacturing Organization) business, with new orders for small molecule CDMO services increasing by over 35% [1] - The company's revenue for 2024 reached 12.276 billion yuan, representing a year-over-year increase of 6.39%, while the adjusted Non-GAAP net profit was 1.607 billion yuan, down 15.58% year-over-year [1] - The company expects new orders to grow by over 20% year-over-year in 2024, with laboratory services and CMC/CDMO services contributing significantly to this growth [1] Summary by Sections Business Performance - The company reported a strong revenue growth in Q4 2024, with laboratory services generating 7.047 billion yuan (up 5.81% year-over-year) and CMC/CDMO services achieving 2.989 billion yuan (up 10.24% year-over-year) [2] - The CMC/CDMO segment saw a significant increase in new orders, with 1,066 drug molecules or intermediates involved, including 19 projects in the process validation and commercialization stage [2] Clinical Research Services - The company generated 1.826 billion yuan from clinical research services in 2024, reflecting a year-over-year increase of 5.12% [3] - The number of ongoing clinical trial projects reached 1,062, including 94 Phase III trials, indicating a growing market share [3] Profitability - The overall gross margin for the company was 34.24%, a decrease of 1.51 percentage points year-over-year, with laboratory services and CMC/CDMO margins showing improvements in Q4 2024 [4] - The adjusted net profit margin for Q4 2024 was 14.43%, indicating a continued upward trend in profitability [4] Earnings Forecast and Valuation - The company forecasts EPS of 1.13, 1.31, and 1.52 yuan for 2025, 2026, and 2027 respectively, with a PE ratio of 20 times based on the closing price on April 15, 2025 [5]

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2025年4月25日（星期五）舉行，藉以（其中包括）審議及批准 本公司及其附屬公司截至2025年3月31日止三個月之第一季度業績。 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 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。 Pharmaron Beijing Co., Ltd. 康 龍 化 成（ 北 京 ）新 藥 技 術 股 份 有 限 公 司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：3759） 董事會會議通告 中華人民共和國，北京 2025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、曾坤鴻先生及 余堅先生。 ...

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 证券代码：300759 证券简称：康龙化成 公告编号：2025-023 （6）成立日期：2025 年 3 月 25 日 （1）统一社会信用代码：91330201MAEEWL4Y0R （2）名称：宁波甬康股权投资合伙企业（有限合伙） （7）出资额：11,401 万元人民币 为充分运用专业投资机构在行业内投资、研判的能力，提高康龙化成（北京） 新药技术股份有限公司（以下简称"公司"）投资能力，同时促进宁波医药行业 的高质量发展，公司作为有限合伙人参与投资宁波甬康股权投资合伙企业（有限 合伙）（以下简称"基金"）。2025 年 3 月 19 日，公司签署了《关于宁波甬康 股权投资合伙企业（有限合伙）（拟）之有限合伙协议》。具体内容详见公司于 2025 年 3 月 20 日在巨潮资讯网（http://www.cninfo.com.cn）披露的《关于参与 私募股权投资基金的公告》（公告编号：2025-010）。 二、基金进展情况 近 ...

Group 1 - The core viewpoint of the news is that the CSI Medical Index has shown fluctuations, with a recent increase of 1.73% despite a decline of 11.00% over the past month [1] - The CSI Medical Index reflects the overall performance of listed companies in the medical and healthcare sector, including medical devices, services, and information technology [1] - The index has a base date of December 31, 2004, with a base point of 1000.0 [1] Group 2 - The top ten weighted companies in the CSI Medical Index include WuXi AppTec (9.9%), Mindray Medical (9.27%), and Aier Eye Hospital (8.27%) [1] - The market share of the CSI Medical Index holdings is 57.98% from the Shenzhen Stock Exchange and 42.02% from the Shanghai Stock Exchange [1] - The industry composition of the CSI Medical Index holdings shows that 97.49% is in healthcare, 2.25% in information technology, and 0.26% in consumer goods [1] Group 3 - The index sample is adjusted every six months, with adjustments occurring on the next trading day after the second Friday of June and December [2] - Weight factors are generally fixed until the next scheduled adjustment, with special circumstances allowing for temporary adjustments [2] - Companies that are delisted or undergo mergers, acquisitions, or splits are handled according to specific calculation and maintenance guidelines [2]