Core Viewpoint - The company announced a profit distribution plan for the first three quarters of 2025, proposing a cash dividend of 0.68 RMB per 10 shares to all shareholders [1] Summary by Relevant Sections - **Profit Distribution Plan** - The company will distribute a cash dividend of 0.68 RMB for every 10 shares held by shareholders [1] - **Key Dates** - The record date for the dividend is set for November 27, 2025 - The ex-dividend date is scheduled for November 28, 2025 [1]

证券代码：301257 证券简称：普蕊斯 公告编号：2025-067 普蕊斯（上海）医药科技开发股份有限公司 2025 年前三季度权益分派实施公告 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。 普蕊斯（上海）医药科技开发股份有限公司（以下简称"公司"、"本公司"） 于 2025 年 10 月 28 日召开了第三届董事会第十六次会议审议通过《关于 2025 年前三季度利润分配方案的议案》，此议案在 2025 年 5 月 20 日召开的 2024 年 年度股东大会授权范围内，无需再次提交公司股东会审议。现将权益分派事宜公 告如下： 一、股东会授权及董事会审议通过的利润分配方案情况 1、为践行常态化现金分红机制，提高投资者回报水平，简化现金分红决策 程序，公司于 2025 年 5 月 20 日召开 2024 年年度股东大会，审议通过了《关于 提请股东大会授权董事会进行中期分红方案的议案》，批准授权董事会在符合利 润分配的条件下制定具体的中期利润分配方案。 2、公司于 2025 年 10 月 28 日召开第三届董事会第十六次会议，在 2024 年 年度股东大会授权范 ...

Core Viewpoint - The domestic R&D demand is showing marginal improvement, driven by the overseas expansion of innovative drugs, leading to a recovery in R&D orders and stabilization of industry prices after a decline in 2023. The CRO sector is expected to see better performance growth by 2026, while the CDMO industry has also reached a bottom and is poised for continued strong growth due to robust demand for new molecules and new orders [1][2][3]. CRO Sector - The domestic R&D demand is recovering, with an increase in orders and stabilization of prices, indicating a clear upward trend for CRO companies. Clinical CROs like Tigermed, Nossan, and Prasis are expected to see revenue growth turning positive by 2025, with significant contributions from overseas business [2][3]. - The recognition of domestic CRO clinical data is improving, which is beneficial for companies like Tigermed [2]. CDMO Sector - The CDMO sector has seen a recovery in performance, with new orders continuing to improve quarterly. The global demand for innovative drug R&D is driving growth in new orders and backlog [3]. - The industry is benefiting from increased capacity utilization and profitability, with a strong certainty of performance and profit growth expected to continue into 2026 [3]. Life Sciences Sector - The life sciences upstream sector is experiencing a dual drive from domestic substitution and overseas expansion, with urgent demand for domestic alternatives in areas like cell culture media and biological reagents. Companies are expected to capture market share through new product categories and cost-effective offerings [4]. - The demand for specific segments such as drug efficacy, antibodies, and proteins is increasing, indicating a clear long-term growth logic for the industry [4]. API Sector - The raw material pharmaceutical industry is currently in a phase of price bottoming and supply surplus, with traditional product performance under pressure. However, companies are extending their business into generics, innovative drugs, and specialty APIs, which may lead to value reconstruction through business structure optimization [5]. - The valuation of raw material pharmaceutical companies is at a low point, presenting opportunities based on changes in new business layouts [5]. Investment Recommendations - For clinical and preclinical CROs, companies like Tigermed, Nossan, and Yinos are recommended due to the gradual recovery of the industry and expected improvement in order structure [6]. - In the CDMO sector, companies such as WuXi AppTec, WuXi Biologics, and others with strong fundamentals and capacity advantages are highlighted for their potential benefits from industry recovery and high demand for new molecules [6]. - In the life sciences upstream sector, companies like Baitai Biotechnology and others are recommended due to accelerated domestic substitution and strong overseas growth [6]. - Companies like Pro Pharma and Huahai Pharmaceutical are noted for their new business layouts that are expected to contribute significant value increments [6].

Group 1 - The shareholder Hongrun Yinke plans to reduce its holdings in the company by up to 6,500 shares, representing 0.0082% of the total share capital, within three months after the announcement [1] - The shareholder Shihezi Ruixin, an employee stock ownership platform, intends to reduce its holdings by up to 73,100 shares, which is 0.0925% of the total share capital, within three months after the announcement [2] - The company's financial director, Song Weihong, plans to reduce her indirect holdings by up to 73,100 shares and direct holdings by up to 800 shares, totaling a maximum reduction of 73,900 shares, which is 0.0935% of the total share capital [2] Group 2 - Hongrun Yinke has been established for over 10 years and is not controlled by the actual controller of the company [1] - Shihezi Ruixin holds 6,397,560 shares, accounting for 8.0977% of the total share capital [2] - Song Weihong's planned reduction does not exceed 25% of her total direct and indirect holdings [2]

Group 1 - The core point of the news is that shareholders of Priss (SZ 301257) plan to reduce their holdings in the company through centralized bidding transactions within three months after the announcement [1][2] - The shareholder Zibo Hongrun Yingke Venture Capital Partnership holds 6,500 shares, accounting for 0.0082% of the total share capital, and plans to reduce its holdings by the same amount [1] - The shareholder Shihezi Ruixin Equity Investment Partnership holds approximately 6.4 million shares, accounting for 8.0977% of the total share capital, and plans to reduce its holdings by up to 73,100 shares, which is 0.0925% of the total share capital [1] Group 2 - The company's financial director, Song Weihong, holds approximately 292,500 shares indirectly through Shihezi Ruixin and 3,250 shares directly, planning to reduce her total holdings by up to 73,900 shares, which is 0.0935% of the total share capital [2] - The planned reduction by Song Weihong does not exceed 25% of her total direct and indirect holdings [2] Group 3 - For the first half of 2025, Priss's revenue composition is entirely from the service industry, accounting for 100% [3] - As of the report, Priss has a market capitalization of 3.5 billion yuan [4]

Core Viewpoint - The company announced a share reduction plan by its shareholders, which will not affect the company's control or ongoing operations [1] Shareholder Reduction Plans - Shareholder Zibo Hongrun Yingke Venture Capital Partnership plans to reduce its holdings by up to 6,500 shares, representing 0.0082% of the total share capital [1] - Shareholder Shihezi Ruixin Equity Investment Partnership plans to reduce its holdings by up to 73,100 shares, representing 0.0925% of the total share capital [1] - The company's CFO, Ms. Song Weihong, plans to reduce her direct holdings by up to 800 shares, totaling a reduction of 73,900 shares, which is 0.0935% of the total share capital [1] Compliance and Impact - The reduction plan complies with relevant laws and regulations, with uncertainties regarding the timing, quantity, and price of the reductions [1] - The planned reductions will not lead to a change in company control and will not impact the company's ongoing operations [1]

证券代码：301257 证券简称：普蕊斯 公告编号：2025-066 普蕊斯（上海）医药科技开发股份有限公司 关于公司股东减持股份预披露公告 公司股东淄博弘润盈科创业投资合伙企业（有限合伙）、股东石河子市睿 新股权投资合伙企业（有限合伙）和财务总监宋卫红女士保证向本公司提供的 信息内容真实、准确、完整、没有虚假记载、误导性陈述或重大遗漏。 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。 特别提示： 1、普蕊斯（上海）医药科技开发股份有限公司（以下简称"公司"）股东淄 博弘润盈科创业投资合伙企业（有限合伙）（曾用名：平潭弘润盈科新材料创业 投资合伙企业（有限合伙）、福州弘润盈科新材料创业投资中心（有限合伙）， 以下简称"弘润盈科"）持有公司股份 6,500 股，占本公司总股本比例 0.0082% （其中 5,431.4 股系由公司实际控制人赖春宝先生通过持有弘润盈科的上层权益 对应间接持有的公司股份，占本公司总股本比例 0.0069%，弘润盈科不是公司实 际控制人控制的企业）。鉴于弘润盈科自 2014 年 6 月 20 日成立至今已存续超过 10 年，近期因投资 ...

Investment Rating - The investment rating for the pharmaceutical and biotechnology industry is "Positive" and the rating has been maintained [1] Core Views - The report emphasizes three core investment directions: 1) Breakthroughs in cutting-edge technologies (e.g., First-in-class drugs in oncology, weight loss, autoimmune fields, and innovative devices like brain-machine interfaces); 2) Clinical validation and commercialization potential (focus on the progress of domestic innovative drugs going abroad and the clinical development progress post-BD transactions); 3) Efficiency advantages in the industry chain (CXO leaders and high-value consumables' global layout) [8] Industry Review - The pharmaceutical and biotechnology industry index increased by 0.81%, ranking 21st among 31 primary industries, outperforming the CSI 300 index which decreased by 0.27% [5][16] - The sub-industries of pharmaceutical circulation and in vitro diagnostics saw significant gains of 7.61% and 5.32% respectively, while medical research outsourcing and medical devices experienced declines of 3.49% and 1.76% [5][16] - As of November 14, 2025, the industry PE (TTM overall method, excluding negative values) was 30.89x, up from 30.67x in the previous period, indicating an upward valuation trend that remains below the average [21] - The top three PE ratios among the sub-industries were for vaccines (50.42x), hospitals (43.67x), and medical devices (37.84x), while pharmaceutical circulation had the lowest valuation at 15.46x [21] Important Industry News - The National Health Commission and others issued implementation opinions to promote and regulate the application of "AI + healthcare" [7] - The NMPA released a new version of the "Medical Device Production Quality Management Specifications" [7] - Novartis received NMPA approval for its first radioligand therapy drug "Pluvicto®" for dual indications [7] - Sanofi's innovative targeted nano-antibody "Cablivi®" was approved by NMPA for treating immune-mediated thrombotic thrombocytopenic purpura [7] - The U.S. government reached a drug price control agreement with Eli Lilly and Novo Nordisk, leading to significant price reductions for GLP-1 drugs [7]

Group 1 - The core point of the news is that Proprius (Shanghai) Pharmaceutical Technology Development Co., Ltd. experienced a stock decline of 5.07%, with a current share price of 45.51 yuan and a total market capitalization of 3.596 billion yuan [1] - Proprius was established on February 22, 2013, and went public on May 17, 2022, focusing on technology development, transfer, consulting, and services in the pharmaceutical sector, with 100% of its revenue coming from services [1] Group 2 - Morgan Stanley's fund holds a significant position in Proprius, with the "Morgan Stanley Youyue Anhe Mixed A" fund owning 80,300 shares, representing 6.23% of the fund's net value, making it the fourth-largest holding [2] - The fund has reported a floating loss of approximately 195,100 yuan as of the latest update [2] - The fund manager, Zhao Weijie, has been in charge for 4 years and 260 days, with the fund's total asset size at 339 million yuan, achieving a best return of 30.95% and a worst return of -32.57% during his tenure [2]

Market Overview - The medical services sector declined by 0.47% on November 14, with the digital human sector leading the drop [1] - The Shanghai Composite Index closed at 3990.49, down 0.97%, while the Shenzhen Component Index closed at 13216.03, down 1.93% [1] Stock Performance - Notable declines in individual stocks include: - Digital Human: closed at 17.28, down 4.85% with a trading volume of 80,400 shares and a turnover of 1.411 million [1] - Haoyuan Pharmaceutical: closed at 77.20, down 3.54% with a trading volume of 30,800 shares and a turnover of 2.4212 million [1] - Yinos: closed at 48.69, down 2.62% with a trading volume of 14,300 shares and a turnover of 7132.217 [1] - Other notable declines include Taige Pharmaceutical, MediX, and WuXi AppTec, all showing declines between 1.28% and 2.08% [1] Capital Flow - The medical services sector experienced a net outflow of 238 million yuan from institutional investors, while retail investors saw a net inflow of 181 million yuan [3] - Notable capital flows for specific stocks include: - Ruizhi Pharmaceutical: net inflow of 38.93 million yuan from institutional investors, but net outflows from retail and speculative investors [3] - Chengda Pharmaceutical: net inflow of 37.96 million yuan from institutional investors, with significant outflows from speculative investors [3] - Other stocks like Sanbo Brain Science and Jinyu Medical also showed varying net inflows and outflows among different investor types [3]