证券代码：300759 证券简称：康龙化成 公告编号：2026-008 康龙化成(北京)新药技术股份有限公司 关于 2021 年 A 股限制性股票激励计划 第四个归属期归属结果暨股份上市的公告 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。 重要内容提示： 1、本次归属股票数量及归属人数：本次归属限制性股票的激励对象共计 44 名，归属限制性股票数量合计 81,643 股，占公司目前总股本的 0.0044%； 一、本次激励计划实施情况概要 （一）本次激励计划简述 1、授予限制性股票的股票来源及授予数量 本次激励计划的标的股票来源为公司向激励对象定向发行的本公司人民币 A 股普通股股票。 2、本次限制性股票归属上市流通时间为 2026 年 1 月 29 日。 康龙化成（北京）新药技术股份有限公司（以下简称"公司"或"本公司"） 于 2025 年 8 月 21 日召开的第三届董事会第十五次会议、第三届监事会第十三次 会议，审议通过了《关于 2021 年 A 股限制性股票激励计划第四个归属期归属条 件成就但股票暂不上市的议案》。近日公司办理了 2021 年 A 股限 ...

格隆汇1月27日丨根据联交所最新权益披露资料显示，2026年1月22日，康龙化成(03759.HK)获Norges Bank在场内以每股均价22.82港元增持1025万股，涉资 约2339.05万港元。 | 表格序號 | 大股東/董事/最高行政人員名稱作出披露的 買入 / 賣出或涉及的 每般的平均價 | | | | 持有權益的股份數目 佔已發行的 有關事件的日期 | | | --- | --- | --- | --- | --- | --- | --- | | | | 原因 | 股份數目 | | (請參閱上述 * 註 | 有投票權股 (日 / 月 / 年) | | | | | | | | 份自分比 | | CS20260123E00561 | Norges Bank 10.250.000(L | 1001(L) | | HKD 22.8200 | 21.474.224(L) | 6.09(L)22/01/2026 | 增持后，Norges Bank最新持股数目为2147.422万股，持股比例由3.81%上升至6.09%。 ...

智通财经APP获悉，香港联交所最新资料显示，1月22日，Norges Bank增持康龙化成(03759)1025万股， 每股作价22.82港元，总金额约为2.34亿港元。增持后最新持股数目约为2147.42万股，最新持股比例为 6.09%。 ...

香港联交所最新资料显示，1月22日，Norges Bank增持康龙化成（300759）(03759)1025万股，每股作价 22.82港元，总金额约为2.34亿港元。增持后最新持股数目约为2147.42万股，最新持股比例为6.09%。 ...

Core Viewpoint - Kanglong Chemical has established itself as a leading CXO enterprise in China, providing comprehensive drug development services and is well-positioned to benefit from the growing global demand for pharmaceutical R&D outsourcing. The company is rated "Buy" with a target price of 38.08 RMB [1][3]. Group 1: Business Model and Competitive Advantage - Kanglong Chemical is one of the top two companies in China's drug discovery and preclinical CRO services, having strategically expanded into small molecule CDMO, clinical development, and large molecule and cell and gene therapy (CGT) fields, creating a one-stop CXO platform that reduces operational risks, time delays, and cost losses for clients [1]. - The one-stop CXO platform is expected to maintain a significant competitive advantage in the global market as biopharmaceutical companies increasingly prioritize R&D efficiency, speed, and reliability [1]. Group 2: Business Segment Performance - Laboratory services are the foundation of the company's long-term growth, with new orders expected to grow over 15% year-on-year in 2024, continuing a similar growth trend in the first three quarters of 2025 [2]. - The small molecule CDMO segment is highly synergistic with laboratory services, with new orders projected to grow over 35% year-on-year in 2024 and approximately 20% in the first three quarters of 2025, making it the fastest-growing business segment [2]. - Clinical research services have been integrating global clinical teams since 2021, with significant room for improvement in operational efficiency as current revenue per employee and gross margin are below industry levels [2]. - The large molecule and CGT segments are expected to provide business diversification and high-value growth in the medium to long term, driven by the rising demand for complex molecular therapies [2]. Group 3: Industry Trends and Financial Outlook - Kanglong Chemical's business performance is closely tied to macro trends in the global life sciences industry, with a notable recovery in global innovative drug R&D demand observed in the second half of 2025, including a 22.5% year-on-year increase in global innovative drug financing and a staggering 215.4% increase in China [3]. - The top 10 global pharmaceutical companies reported a 5.3% year-on-year increase in R&D spending in the first half of 2025, indicating a return to positive growth and stabilizing R&D expenditures among leading biotech companies, which strengthens the demand foundation for the CXO industry [3]. - Revenue projections for Kanglong Chemical are expected to grow by 14.2%, 14.8%, and 16.3% year-on-year for 2025, 2026, and 2027 respectively, with non-IFRS net profit growth of 12.3%, 17.8%, and 18.7% [3].

Investment Rating - The report initiates coverage on 康龙化成 with a "Buy" rating and a target price of 38.08 RMB, indicating a potential upside of 21.7% from the current price of 31.30 RMB [1][3]. Core Insights - 康龙化成 is recognized as a leading integrated CXO company in China, established in 2004, providing comprehensive services throughout the drug development lifecycle. The company is expected to benefit from the growing global demand for pharmaceutical R&D outsourcing [1][7]. - The report highlights the company's strategic expansion into various sectors, including small molecule CDMO, clinical development, and large molecule & cell and gene therapy (CGT), which positions 康龙化成 as a competitive player in the global market [7]. - The company is projected to achieve revenue growth rates of 14.2%, 14.8%, and 16.3% for FY25E, FY26E, and FY27E, respectively, with adjusted net profit growth rates of 12.3%, 17.8%, and 18.7% for the same periods [7][11]. Financial Summary - For FY23A, 康龙化成 reported sales revenue of 11,538 million RMB, with a year-on-year growth of 12.4%. The adjusted net profit for the same period was 1,903 million RMB, reflecting a growth of 3.8% [2][11]. - The company’s sales revenue is expected to reach 14,022 million RMB in FY25E, with a projected growth of 14.2% year-on-year [2][11]. - The adjusted net profit is forecasted to be 1,804 million RMB in FY25E, with a year-on-year increase of 12.3% [2][11]. Shareholder Structure - The shareholder structure indicates that 19.3% of the shares are held by Hong Kong investors, while the actual controller holds 17.7% [4]. Stock Performance - The stock has shown a 1-month absolute return of 8.6% and a 6-month return of 15.1%, indicating positive market sentiment [5].

Investment Rating - The report initiates coverage on 康龙化成 (300759 CH) with a "Buy" rating and a target price of 38.08 RMB, indicating a potential upside of 21.7% from the current price of 31.30 RMB [1][3]. Core Insights - 康龙化成 is recognized as a leading integrated CXO service provider in China, benefiting from the growing global demand for pharmaceutical R&D outsourcing. The company offers end-to-end services across the entire drug development lifecycle, positioning itself to capitalize on the increasing outsourcing needs in the pharmaceutical industry [1][7]. - The report highlights the company's strategic expansion into small molecule CDMO, clinical development, and large molecule & cell and gene therapy (CGT) sectors, creating a comprehensive one-stop CXO platform that reduces operational risks and costs for clients [7]. - The company is expected to see revenue growth of 14.2% in 2025, 14.8% in 2026, and 16.3% in 2027, with adjusted net profit growth projected at 12.3%, 17.8%, and 18.7% for the same years [7][8]. Financial Summary - For FY23A, 康龙化成 reported sales revenue of 11,538 million RMB, with a year-on-year growth of 12.4%. The adjusted net profit for the same period was 1,903 million RMB, reflecting a growth of 3.8% [2][11]. - The company’s sales revenue is projected to reach 14,022 million RMB in FY25E, with a corresponding adjusted net profit of 1,804 million RMB, indicating a year-on-year increase of 12.3% [2][11]. - The adjusted earnings per share (EPS) for FY25E is estimated at 1.01 RMB, with a forward P/E ratio of 30.8 times [2][11]. Shareholder Structure - The shareholder structure indicates that 19.3% of the shares are held by Hong Kong investors, while the actual controller holds 17.7% [4]. Stock Performance - The stock has shown a 1-month absolute return of 8.6% and a 6-month return of 15.1%, outperforming the market in these periods [5].

智通财经APP获悉，香港联交所最新资料显示，1月22日，康龙化成(03759)股东将股票存入摩根士丹利 香港证券，存仓市值12.83亿港元，占比19.38%。 同日，康龙化成发布公告，已达成所有条件并于2026年1月22日完成配售。配售代理已根据配售协议的 条款及条件，按每股配售股份配售价22.82港元，成功向不少于6名独立承配人配售合共5844.08万股配售 股份。 配售的募集资金净额为13.19亿港元，将按以下方式投入使用：约70%将用于公司的项目建设，以加强 公司实验室服务设施、药物工艺开发及生产设施的能力及产能；约10%将用于偿还银行贷款及其他借 款，以优化公司的资本结构；及约20%将用于补充营运资金及作其他一般公司用途。 ...

同日，康龙化成发布公告，已达成所有条件并于2026年1月22日完成配售。配售代理已根据配售协议的 条款及条件，按每股配售股份配售价22.82港元，成功向不少于6名独立承配人配售合共5844.08万股配售 股份。 配售的募集资金净额为13.19亿港元，将按以下方式投入使用：约70%将用于公司的项目建设，以加强 公司实验室服务设施、药物工艺开发及生产设施的能力及产能；约10%将用于偿还银行贷款及其他借 款，以优化公司的资本结构；及约20%将用于补充营运资金及作其他一般公司用途。 香港联交所最新资料显示，1月22日，康龙化成（300759）(03759)股东将股票存入摩根士丹利香港证 券，存仓市值12.83亿港元，占比19.38%。 ...

香港交易及結算所有限公司、香港聯合交易所有限公司（「聯交所」）及香港中央結算有限公司 （「香港結算」）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） 海外監管公告 本公告乃康龍化成（北京）新藥技術股份有限公司（「本公司」）根據香港聯合交易所 有限公司證券上市規則第13.10B條作出。 茲載列本公司於深圳證券交易所網站刊登公告如下，僅供參閱。 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 证券代码：300759 证券简称：康龙化成 公告编号：2026-007 康龙化成（北京）新药技术股份有限公司 关于实际控制人及其一致行动人持股比例被动稀释 权益变动触及 1%的公告 本公司实际控制人及其一致行动人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。 中華人民共和 ...