杭州泰格医药科技股份有限公司 2025 年半年度报告全文 杭州泰格医药科技股份有限公司 2025 年半年度报告 2025 年 8 月 29 日 1 杭州泰格医药科技股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人曹晓春、主管会计工作负责人杨成成及会计机构负责人(会计 主管人员)夏江梅声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 无 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | 第二节 | 公司简介和主要财务指标 10 | | | --- | --- | --- | | 第三节 | 管理层讨论与分析 13 | | | 第四节 | 公司治理、环境和社会 | 32 | | 第五节 | 重要事项 | 34 | | 第六节 | 股份变动及股东情况 40 | | | 第七节 | 债券相关情况 47 | | | 第八节 | 财务报告 | 48 | 杭州泰格医药科技 ...

Core Insights - The company reported a revenue of 3.25 billion yuan for the six months ending June 30, 2025, representing a year-on-year decrease of 3.21% [1] - Net profit attributable to shareholders was 383 million yuan, down 22.22% year-on-year, with basic earnings per share at 0.45 yuan [1] Revenue Breakdown - Revenue from the domestic business in mainland China decreased by 9.2% compared to the same period in 2024, primarily due to a decline in the clinical trial technical services segment [1] - Conversely, revenue from overseas operations increased by 4.4% year-on-year, driven by the company's ongoing global expansion, enhanced service capabilities, and rapid growth in overseas clinical trial services [1]

Core Viewpoint - The company reported a decline in revenue and net profit for the first half of 2025, indicating challenges in the domestic market while showing growth in international operations [1]. Financial Performance - The company achieved operating revenue of 3.25 billion yuan, a year-on-year decrease of 3.21% [1]. - Net profit attributable to shareholders was 383 million yuan, reflecting a year-on-year decrease of 22.22% [1]. - Basic earnings per share were 0.45 yuan [1]. Regional Performance - Revenue from the domestic market decreased by 9.2% compared to the same period in 2024, primarily due to a decline in the clinical trial services segment [1]. - Conversely, revenue from overseas operations increased by 4.4% year-on-year, driven by the company's efforts to enhance global presence, improve service capabilities, and expand international clinical trial services [1].

Core Viewpoint - The company reported a decline in revenue and profit for the six months ending June 30, 2025, while continuing to expand its clinical research projects both domestically and internationally [1][2] Financial Performance - The company achieved revenue of RMB 3.25 billion, a year-on-year decrease of 3.2% [1] - Profit attributable to shareholders decreased by 22.2% to RMB 383 million during the reporting period [1] - Earnings per share were RMB 0.45 [1] - The board decided not to declare any interim dividend for the six months ending June 30, 2025 [1] Clinical Research Projects - As of June 30, 2025, the company had 409 clinical research projects underway domestically and 237 projects internationally [1] - Among the international projects, 194 were conducting single-region clinical trials primarily in South Korea, Australia, Southeast Asia, Europe, and the United States [1] - The company also had 43 projects conducting multi-region clinical trials across Asia-Pacific, North America, Europe, and Africa, covering various therapeutic areas including oncology, respiratory, cardiovascular, endocrine, rheumatology, infectious diseases, rare diseases, and vaccines [1] Future Strategy - The company aims to embrace regulatory changes, technological innovations, and global expansion to enhance its integrated clinical research service platform [2] - Plans include establishing specialized business teams in specific therapeutic areas to expand client relationships with multinational and large domestic pharmaceutical companies [2] - The company seeks sustainable growth and potential acquisitions to enhance its business and operational capabilities in the U.S. and Europe [2] - Strengthening collaborative relationships within the industry is a priority to consolidate its domestic market position and increase global market share [2] - The goal is to achieve sustainable business development and performance growth, continuously creating returns for shareholders [2]

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 不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 截 至2025年6月30日止六個月之 中期業績公告 財務摘要 HANGZHOU TIGERMED CONSULTING CO., LTD. 杭州泰格醫藥科技股份有限公司 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：3347） | | | | | 截 | | | 至6月30日止六個月 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 2025年 | | | | | | 2024年 | | | | 變 動（2） | | 人民幣百萬元 | | | | | | | 人民幣百萬元 | | | | | | | | （未 | （未 經 ...

Core Viewpoint - Tiger Med's stock price has shown fluctuations, with a year-to-date increase of 23.82% and a recent decline over the past 20 days, indicating mixed market sentiment towards the company [1][2]. Company Overview - Tiger Med, established on December 15, 2004, and listed on August 17, 2012, is based in Hangzhou, Zhejiang Province. The company specializes in providing professional clinical research services for domestic and international pharmaceutical and health-related products [1]. - The main business segments include clinical trial services (49.91% of revenue), clinical trial technical services (48.13%), and other services (1.95%) [1]. Financial Performance - For the first quarter of 2025, Tiger Med reported a revenue of 1.564 billion yuan, a year-on-year decrease of 5.79%, and a net profit attributable to shareholders of 165 million yuan, down 29.61% year-on-year [2]. - The company has distributed a total of 2.458 billion yuan in dividends since its A-share listing, with 1.154 billion yuan distributed over the past three years [3]. Shareholder Structure - As of March 31, 2025, Tiger Med had 53,800 shareholders, an increase of 1.95% from the previous period. The top shareholders include various mutual funds and ETFs, with notable changes in holdings among major institutional investors [3].

Core Viewpoint - Tiger Medical (3347.HK) experienced a significant intraday drop of 6.43% to HKD 49.5, following a reduction in shareholding by a major shareholder, Xingsheng Global Fund Management Co., Ltd. [1] Group 1 - Xingsheng Global Fund Management Co., Ltd. sold 345,400 shares at an average price of HKD 58.4519 per share, amounting to approximately HKD 20.19 million [1] - After the sale, Xingsheng's shareholding decreased from 7.02% to 6.73% [1]

Group 1 - The core point of the news is that Xingsheng Global Fund Management Co., Ltd. has reduced its stake in Tiger Medical (03347.HK) by selling 345,400 shares at an average price of HKD 58.4519 per share, amounting to approximately HKD 20.1893 million [1] - After the reduction, Xingsheng's total shareholding is now 8,292,315 shares, which represents a decrease in ownership percentage from 7.02% to 6.73% [1]

Group 1 - Hong Kong Stock Exchange data shows that on August 15, Xingsheng Global Fund Management Co., Ltd. reduced its holdings in Tiger Medical (03347.HK) by 345,400 shares at a price of HKD 58.4519 per share, totaling approximately HKD 20.1893 million [1] - After the reduction, the latest number of shares held is approximately 8.2923 million, representing a holding ratio of 6.73% [1] - As of August 19, 2025, Tiger Medical closed at HKD 52.9, down 8.08%, with a trading volume of 3.8003 million shares and a turnover of HKD 209 million [1] Group 2 - Tiger Medical has a market capitalization of HKD 7.086 billion, ranking 11th in the medical services II industry [1] - Key performance indicators for Tiger Medical compared to the industry average are as follows: - ROE: 1.92% vs. industry average -0.76%, ranking 28th [1] - Market capitalization: HKD 7.086 billion vs. industry average HKD 8.298 billion, ranking 11th [1] - Revenue: HKD 6.603 billion vs. industry average HKD 3.819 billion, ranking 7th [1] - Net profit margin: 6.78% vs. industry average -851.29%, ranking 23rd [1] - Gross margin: 33.95% vs. industry average 36.91%, ranking 25th [1] - Debt ratio: 16.07% vs. industry average 73.63%, ranking 8th [1]

Group 1 - Hong Kong Stock Exchange data shows that on August 15, Xingsheng Global Fund Management Co., Ltd. reduced its holdings in Tiger Medical (300347)(03347) by 34,540 shares at a price of HKD 58.4519 per share, totaling approximately HKD 20.1893 million [1] - After the reduction, the latest number of shares held is approximately 8.2923 million, with a new holding percentage of 6.73% [1]