近日，公司收到股东观由昭泰出具的告知函，获悉观由昭泰于 2024 年 3 月 13 日至本公告日，通过大宗交易方式累计减持公司股份 611,600 股，占公司总股 本的 1.00%。观由昭泰与其一致行动人新疆泰睿股权投资合伙企业（有限合伙） （以下简称"新疆泰睿"）合计持有的公司股份比例变动达到 1%。现将相关情 况公告如下： | 1、基本情况 | | | | | | --- | --- | --- | --- | --- | | 信息披露义务人（一） | 上海观由投资发展有限公司－观由昭泰（嘉兴）创业投资合伙 | | | | | | 企业（有限合伙） | | | | | 住所 | 浙江省嘉兴市南湖区南江路 1856 号基金小镇 1 号楼 104 室-17 | | | | | 信息披露义务人（二） | 新疆泰睿股权投资合伙企业（有限合伙） | | | | | 住所 | 新疆石河子开发区北四东路 37 号 3-84 室 | | | | | 权益变动时间 | 年 2024 13 | 3 | 月 | 日至本公告日 | 1、基本情况 证券代码：301257 证券简称：普蕊斯 公告编号：2024-030 普蕊斯（上海） ...

证券代码：301257 证券简称：普蕊斯 公告编号：2024-029 普蕊斯（上海）医药科技开发股份有限公司 关于召开 2023 年年度股东大会提示性公告 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。 根据《中华人民共和国公司法》和《公司章程》的有关规定，经普蕊斯（上 海）医药科技开发股份有限公司（以下简称"公司"）第三届董事会第七次会议审 议通过，拟于 2024 年 5 月 20 日（星期一）召开公司 2023 年年度股东大会（以 下简称"股东大会"），现将本次股东大会有关事项提示如下： 一、召开会议的基本情况 1、股东大会届次：2023 年年度股东大会。 2、股东大会的召集人：公司董事会。 3、会议召开的合法性、合规性：本次股东大会的召开符合有关法律、行政 法规、部门规章、规范性文件、深圳证券交易所（以下简称"深交所"）业务规则 和《公司章程》等的规定。 4、会议召开的日期、时间： （1）现场会议时间：2024 年 5 月 20 日（星期一）14：00 时； （2）网络投票时间：通过深交所交易系统进行网络投票的具体时间为 2024 年 5 月 20 日 ...

[Table_TargetPrice] [Table_Title] 服务能力持续提升，在手订单仍旧充足 [Table_Summary] 事件： 普蕊斯近期发布 2023 年及 2024 年一季度报告：2023 年公司实现收入 7.6 亿（+29.7%），主要是由于外部经营环境对临床试验项目开展的干扰逐步消 除或减弱，项目业务进度恢复较大所致；实现归母净利润 1.3 亿（+86.1%）， 主要由于报告期内项目执行效率有所提升所致；实现扣非归母净利润 1.1 亿 （+70.6%）。2024Q1 公司实现收入 1.8 亿（+17.4%）；归母净利润 2273.7 万（-10.2%），主要由于报告期内收到政府补助金额同比下降较多所致，扣 非归母净利润 1957.0 万（+7.7%）。 公司 SMO 业务实现快速增长，营销能力加大建设 2023 年 SMO 业务收入 7.6 亿（+29.7%），公司自成立以来即注重内部 SOP 的制定、积累和更新，截至目前已建立了一套科学详实的涵盖 270 余份的 SOP 制度文件，用于指导和规范员工开展 SMO 业务中的各项操作。从费 用端看：2023 年销售费用较上年同期同比增长 ...

Investment Rating - The investment rating for the company is maintained as "Buy" [4][16]. Core Views - The company is one of the early developers of SMO (Site Management Organization) services in China, with rapid order growth and recovering profit margins. The projected net profits for 2024 and 2025 are 169 million and 212 million yuan respectively, with a new forecast for 2026 at 253 million yuan, corresponding to PE ratios of 17, 13, and 11 times [4][16]. - The company reported a total revenue of 760 million yuan for 2023, representing a year-on-year growth of 29.6%, and a net profit of 135 million yuan, which is an 86.1% increase year-on-year. For Q1 2024, the revenue was 185 million yuan, showing a growth of 17.4%, while the net profit was 23 million yuan, reflecting a decline of 10.2% due to reduced government subsidies [16][17]. - The company has seen a significant increase in new orders, with a total contract amount of 1.292 billion yuan in 2023, up 23.89% year-on-year. The total contract amount at the end of 2023 was 1.881 billion yuan, a 24.97% increase year-on-year [17][28]. Financial Summary - The total revenue forecast for 2024 is 950 million yuan, with a year-on-year growth rate of 25%. The projected net profit for 2024 is 169 million yuan, with a growth rate of 25.7% [5][6]. - The company’s gross margin is expected to stabilize at 30.4% from 2024 to 2026, with a return on equity (ROE) projected to increase from 13.5% in 2024 to 14.8% in 2026 [5][6]. - The company has maintained a stable growth in employee numbers, reaching 4,407 by Q1 2024, with over 4,200 specialized personnel, indicating strong business demand [28].

[Table_Title] 23 年新签订单保持强劲增长，展望 24 年将延 请仔细阅读在本报告尾部的重要法律声明 | --- | --- | --- | --- | --- | --- | |----------------------------|-------|-------|-------|-------|-------| | [ 财务摘要 Table_profit] | 2022A | 2023A | 2024E | 2025E | 2026E | | 营业收入(百万元 ) | 586 | 760 | 943 | 1,176 | 1,454 | | YoY（%） | 16.6% | 29.6% | 24.1% | 24.7% | 23.6% | | 归母净利润(百万元 ) | 72 | 135 | 168 | 207 | 257 | | YoY （%） | 25.3% | 86.1% | 24.6% | 23.1% | 24.4% | | 毛利率（%） | 27.3% | 30.4% | 30.5% | 30.5% | 30.5% | | 每股收益（元） | 1.35 | 2.24 | 2.74 | ...

2024 年 5 月 3 日 公司研究 创新药承接能力增强，毛利率不断改善 事件：公司发布 2023 年年报及 2024 年一季报业绩公告，其中：1）2023 年公 司实现营业收入 7.60 亿元（YOY+29.65%）；实现归母净利润 1.35 亿元 （YOY+86.06%）；实现扣非归母净利润 1.14 亿元（YOY+70.58%）；2)2024Q1， 公司实现营业收入 1.85 亿元（YOY+17.42%）；实现归母净利润 0.23 亿元 （YOY-10.22%）；实现扣非归母净利润 0.2 亿元（YOY+7.74%），符合市场预 期。 人员规模持续扩大，新签订单进一步提升。截至 23 年底，公司员工人数较 22 年底新增 548 人至 4186 人，同比增加 15%，反映公司业务发展态势良好。2023 年公司新签不含税合同金额为 12.92 亿元，同比增长 23.89%；存量不含税合同 金额为 18.81 亿元，同比增长 24.97%。人员规模的扩张与在手订单持续提升， 支持公司后续业务稳定发展。 创新药项目多样化，医院覆盖度广。截至 23 年底，公司在执行项目数量为 1832 个，累计参与 SMO ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [34] Core Views - The company has shown impressive performance in 2023, with a robust growth in new orders providing a solid foundation for future revenue growth [6][20] - The company achieved a revenue of 760 million yuan in 2023, representing a year-on-year growth of 29.65%, and a net profit attributable to shareholders of 135 million yuan, up 86.06% year-on-year [20][22] - The company has a strong order backlog, with a new signed contract amount of 1.292 billion yuan in 2023, an increase of 23.89% year-on-year, and a total backlog of 1.881 billion yuan at the end of 2023, up 24.97% year-on-year [20][21] Financial Performance Summary - In Q1 2024, the company reported a revenue of 185 million yuan, a year-on-year increase of 17.42%, while the net profit attributable to shareholders decreased by 10.22% to 22.74 million yuan due to reduced government subsidies [20] - The company forecasts net profits for 2024-2026 to be 155 million yuan, 200 million yuan, and 259 million yuan respectively, with corresponding EPS of 2.54, 3.27, and 4.23 yuan [20][22] - The company's gross margin improved to 30.41% in 2023, up 3.12% year-on-year, indicating enhanced operational efficiency [20][22] Employee and Market Position - As of the end of 2023, the company employed 4,186 people, a 15.06% increase year-on-year, with over 4,000 professionals covering more than 1,300 clinical trial institutions across over 190 cities in China [21] - The company has established partnerships with major global pharmaceutical companies, contributing to the successful launch of 140 products domestically and internationally [21]

证券代码：301257 证券简称：普蕊斯 普蕊斯（上海）医药科技开发股份有限公司 投资者关系活动记录表 编号：2024-006 特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 投资者关系 □现场参观 券商策略会 活动类别 其他 （东方证券、兴业证券、海通证券、长江证券、东北证券、信达 证券、太平洋证券、中金证券、招商证券、开源证券、民生证 券、华安证券、中泰证券、国海证券、华创证券 15 家证券联合 主持的2023年年度和 2024年第一季度业绩交流电话会） 工银瑞信 融通基金 南方基金 中欧基金 华安基金 招商基金 华宝基金 诺安基金 中金基金 银华基金 前海开源基金 信达澳亚基金 东兴基金 长盛基金 圆信永丰基金 创金合信基金 南华基金 格林基金 北信瑞丰基金 富安达基金 富荣基金 博道基金 国新国证基金 粤民投私募基金 招商资本 建信资本 新华养老保险 勤远私募基金 参与单位 碧云资本 康曼德资本 幸福人寿保险 运舟私募基金 ...

Investment Rating - The investment rating for the company is upgraded from "Overweight" to "Buy" [2][14]. Core Insights - The company is a leading player in the SMO industry, benefiting from a wide coverage of clinical institutions and continuous revenue expansion. The new order amount is growing rapidly, and the penetration rate of SMO in pharmaceutical clinical research is expected to increase further [2][5][15]. Financial Performance - In 2023, the company achieved a revenue of 760.04 million yuan, representing a year-on-year growth of 29.65%. The net profit attributable to shareholders was 134.73 million yuan, up 86.06% year-on-year. The net profit margin reached 17.73%, an increase of 5.38 percentage points, primarily due to a significant reduction in management expense ratio [7][27]. - The company forecasts revenues of 942.45 million yuan in 2024, 1,140.37 million yuan in 2025, and 1,311.42 million yuan in 2026, with growth rates of 24.00%, 21.00%, and 15.00% respectively [7][8]. - The projected net profit for 2024 is 162.35 million yuan, with a growth rate of 20.50%, and for 2025, it is 194.69 million yuan, with a growth rate of 19.92% [7][8]. Operational Highlights - As of December 31, 2023, the company has participated in over 3,000 SMO projects, with 1,832 ongoing projects. The number of employees increased from 3,638 at the end of 2022 to 4,186, with over 4,000 in business roles [5][15]. - The company has signed new contracts worth 12.92 billion yuan in 2023, a year-on-year increase of 23.89%, driven by the continuous investment in R&D by global pharmaceutical companies and the growing demand for outsourced services for new drug clinical trials [15].

| --- | --- | |-------|-------| | | | | | | ◼ 走势比较 (60%) (46%) (32%) (18%) (4%) 10% 23/5/4 23/7/1523/9/2523/12/624/2/1624/4/28 普蕊斯 沪深300 ◼ 股票数据 普蕊斯(301257) 目标价: 72.02 昨收盘:45.68 全年业绩符合预期，短期利润有所波动 总股本/流通(亿股) 总市值/流通(亿元) 12 个月内最高/最低价 (元) | --- | --- | --- | --- | --- | --- | --- | |-------|--------------|------------------------|--------|--------|--------|--------| | | | ◼ 盈利预测和财务指标 | 2023A | 2024E | 2025E | 2026E | | | | 营业收入（百万元） | 760 | 884 | 1,030 | 1,226 | | | | 营业收入增长率 (%) | 29.65% | 16.32% | 16.51% | 18. ...