公告显示，2025年8月12日至11月11日百洋医药控股股东百洋医药集团有限公司（以下简称"百洋集团"）通过大宗交易及集中竞价交易合计减持公司 15,767,690股股份，占公司总股本比例为3%。 其中，通过大宗交易减持10,512,390股，减持均价为20.78元/股；通过集中竞价交易减持5,255,300股，减持均价为26.11元/股。由上述数据计算，本轮减持 百洋集团套现约3.56亿元。 | 股东名称 | 減持方式 | 减持期间 | 减持均价 (元/股) | 减持股数(股) | 占公司总 股本比例 | | --- | --- | --- | --- | --- | --- | | | | | | | (%) | | 百洋医药 集团有限 | 大宗交易 | 2025年8月12日至8月13日 | 20.78 | 10,512,390 | 2.00 | | | 集中竞价交易 | 2025年9月11日至11月11日 | 26.11 | 5,255,300 | 1.00 | | 公司 | | 合计 | | 15,767,690 | 3.00 | 11月13日晚间，百洋医药（301015）披露关于控股股东减持计划期限 ...

（编辑 姚尧） 证券日报网讯 11月13日晚间，百洋医药发布公告称，青岛百洋医药股份有限公司（以下简称"公司"） 于2025年7月21日披露了《关于控股股东减持股份预披露公告》，公司控股股东百洋医药集团有限公司 （以下简称"百洋集团"）计划通过集中竞价和（或）大宗交易方式减持本公司股份不超过15，768，585 股（占公司总股本3.00%），减持期间为自预披露公告披露之日起15个交易日后的三个月内（即2025年 8月12日-2025年11月11日）。近日，公司收到百洋集团出具的《关于减持计划期限届满暨实施情况的告 知函》，截至2025年11月11日，本次减持计划的实施期限已届满。 ...

（文章来源：证券日报） 证券日报网讯 11月13日晚间，百洋医药发布公告称，青岛百洋医药股份有限公司（以下简称"公司"） 近日接到公司控股股东百洋医药集团有限公司函告，获悉其所持有本公司的部分股份完成了解除质押， 本次解除质押股份数量为10，000，000股。 ...

Group 1 - Baiyang Pharmaceutical has pledged approximately 164 million shares, accounting for 46.33% of its total holdings [1] - Beijing Baiyang Chengchuang Pharmaceutical Investment Co., Ltd. has pledged 9.98 million shares, representing 49.9% of its holdings [1] - Tianjin Huitong Asset Management Partnership has pledged 2.8 million shares, which is 48.86% of its holdings [1] Group 2 - Baiyang Pharmaceutical's revenue composition for 2024 is as follows: 92.5% from sales of pharmaceuticals and medical devices, 7.18% from brand services, and 0.32% from other businesses [1] - As of the report date, Baiyang Pharmaceutical's market capitalization is 12.7 billion yuan [1]

| 证券代码：301015 | 证券简称：百洋医药 | 公告编号：2025-096 | | --- | --- | --- | | 债券代码：123194 | 债券简称：百洋转债 | | 青岛百洋医药股份有限公司 关于控股股东部分股份解除质押的公告 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、股东股份解除质押的基本情况 | | | | | | | 已质押股份情况 | | 未质押股份情况 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东名称 | 持股 数量 | 持股比 | 累计质押股 | 占其所 持股份 | 占公司 总股本 | 已质押股份 | 占已质 | 未质押股份 | 占未质 | | | （股） | 例 | 份数量（股） | 比例 | 比例 | 限售和冻 结、标记数 | 押股份 | 限售和冻结 | 押股份 | | | | | | | | 量（股） | 比例 | 数量（股） | 比例 | | 百洋医药 集团有限 公司 | 353,30 9,710 | 67.22% ...

（记者 曾健辉） 百洋医药（301015.SZ）11月13日在投资者互动平台表示，投资者您好，2025年10月，公司与北京大学 国际医院正式签署《放射外科治疗中心合作协议》，目前双方正按照协议约定全力推进合作实施落地， 诊疗服务尚未正式启动，感谢您的关注与支持。 每经AI快讯，有投资者在投资者互动平台提问：董秘您好，请问公司和北大国际医院合作的zap放疗中 心目前是合作框架协议还是已落地开启诊疗服务了？ ...

Core Viewpoint - Recently, Baiyang Pharmaceutical (301015) Co., Ltd. has been established in Guangdong with a registered capital of 50 million yuan, indicating a strategic expansion in the medical device sector [1] Company Summary - Baiyang Pharmaceutical is the sole shareholder of the newly established company, which suggests a focus on consolidating its operations and enhancing its market presence [1] - The legal representative of the new company is Wang Tingwei, indicating a potential leadership continuity within the organization [1] Industry Summary - The new company will engage in the leasing of Class II medical devices, marketing planning, specialized equipment repair, sales of household appliances, and operation of Class III medical devices, reflecting a diversified approach to the medical and consumer goods market [1]

Core Insights - Qingdao Baiyang Pharmaceutical Co., Ltd. has signed a deepened cooperation agreement with CSL, a global biotechnology leader, to exclusively promote and sell CSL's human albumin product, AmbuMab, in specific markets in China [1][2] - The human albumin market in China is the largest therapeutic drug market, exceeding 30 billion yuan, with a projected growth to 57 billion yuan by 2030, reflecting a compound annual growth rate of 6.0% from 2025 to 2030 [2] - The collaboration aims to leverage CSL's high-quality blood products and Baiyang's commercial platform to meet the increasing demand for high-quality blood products in China [1][3] Company Overview - Baiyang Pharmaceutical has established a strong commercial capability and market network in the liver disease treatment sector, which is a strategic area for the collaboration [3][5] - Baiyang's innovation pipeline covers multiple core therapeutic areas, including oncology, critical care, fibrosis, and bone health, aiming to enhance the clinical application of high-quality pharmaceutical products [5] - CSL has been a key supplier in the Chinese market for nearly 40 years, with its human albumin products accounting for nearly 24% of the market share [2] Market Dynamics - The human albumin product, AmbuMab, is designed for the Chinese market and has a unique advantage of being stored at temperatures not exceeding 30°C, reducing reliance on complex cold chain logistics [2] - The collaboration is expected to improve the accessibility of human albumin for critical illness patients in China, contributing to the "Healthy China 2030" initiative [3][5] - The partnership will also focus on enhancing the standardization, specialization, and high-quality development of the blood products market in China [5]

Investment Rating - The investment rating for the company is "Accumulate" with a downward adjustment [4][7]. Core Views - The company's brand operation business remains stable, but increased expenses have put pressure on profits [1][3]. - The core brand operation business achieved revenue of 4.101 billion yuan, remaining flat year-on-year, while the wholesale distribution business saw a significant decline of 28.85% [2]. - The company has adjusted its revenue and profit forecasts for 2025-2026 due to the ongoing compression of the wholesale business and increased marketing expenses [4]. Financial Performance Summary - For the first three quarters of 2025, the company reported revenue of 5.627 billion yuan, a decrease of 8.41% year-on-year, and a net profit attributable to the parent company of 476 million yuan, down 25.67% [1]. - In Q3 2025, the company achieved revenue of 1.876 billion yuan, a decline of 12.85% year-on-year, but net profit increased by 31.43% to 313 million yuan [1]. - The company’s core brand operation revenue was 4.101 billion yuan, showing a year-on-year growth of 11.08% after adjusting for the two-invoice system [2]. Expense and Profitability Analysis - Increased sales expenses for brand product marketing have contributed to profit pressure, despite a quick growth in net profit in Q3 2025 due to fair value changes in stocks held by the company [3]. - The company has fully recognized inventory impairment for its brand product, paclitaxel polymer micelles, which has impacted profitability [3]. Revenue and Profit Forecast Adjustments - The revenue forecast for 2025-2026 has been revised down from 10.125 billion yuan and 11.625 billion yuan to 7.449 billion yuan and 7.343 billion yuan, respectively [4]. - The net profit forecast for 2025-2026 has been adjusted from 1.066 billion yuan and 1.294 billion yuan to 612 million yuan and 802 million yuan, respectively [4].

Core Insights - The pharmaceutical commercial sector experienced a decline of 0.52% on November 6, with Renmin Tongtai leading the drop [1] - The Shanghai Composite Index closed at 4007.76, up 0.97%, while the Shenzhen Component Index closed at 13452.42, up 1.73% [1] Stock Performance - The top-performing stock was HeFu China (603122), which closed at 14.34, up 9.97% with a trading volume of 1.2541 million shares and a transaction value of 1.757 billion [1] - Other notable gainers included Yinghe Shiyao (002788) at 9.33, up 5.19%, and Yingche Dong (002462) at 14.68, up 1.45% [1] - Conversely, Renmin Tongtai (600829) saw a significant drop of 9.98%, closing at 65.6 with a trading volume of 521,700 shares and a transaction value of 500 million [2] Capital Flow - The pharmaceutical commercial sector experienced a net outflow of 467 million from institutional investors, while retail investors saw a net inflow of 408 million [2] - The overall capital flow indicates that while institutional investors withdrew funds, retail investors were actively buying into the sector [2] Individual Stock Capital Flow - Notable net inflows from retail investors were observed in stocks like Yifeng Pharmacy (603939) with a retail net inflow of 412.67 million, while institutional investors had a net inflow of 287.47 million in Nanjing Pharmaceutical (600713) [3] - Conversely, stocks like Luyuan Pharmaceutical (002788) and Jia Shitang (002462) experienced net outflows from both institutional and retail investors [3]