浙江华海药业股份有限公司 第九届董事会第七次临时会议决议公告

Core Viewpoint - Zhejiang Huahai Pharmaceutical Co., Ltd. announced a significant decrease in its 2025 annual net profit, projecting a range of 224 million to 335 million yuan, which represents a decline of approximately 70% to 80% compared to the previous year [4][7]. Group 1: Financial Performance - The company expects its net profit attributable to shareholders for 2025 to be between 224 million and 335 million yuan, a decrease of approximately 78.4 million to 89.5 million yuan from the previous year [4][7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses is projected to be between 113 million and 226 million yuan, reflecting a decline of about 90.3 million to 101.6 million yuan year-on-year [4][7]. - The previous year's net profit was reported at 1.119 billion yuan, with a per-share earnings of 0.77 yuan [8]. Group 2: Reasons for Performance Change - The decline in profit is attributed to intensified competition and price pressure in the domestic formulation business, leading to a decrease in sales revenue [8]. - The raw material pharmaceutical industry is facing overcapacity and price pressures, with new product development not meeting expectations, further impacting sales revenue [8]. - Increased investment in the research and development of innovative biological drugs has also contributed to the rise in expenses [8]. Group 3: Convertible Bond Price Adjustment - The company’s board decided not to adjust the conversion price of the "Huahai Convertible Bonds" downwards, despite the stock price falling below 80% of the conversion price for at least 15 trading days within a 30-day period [14][24]. - The current conversion price is set at 33.06 yuan per share, with the initial conversion price being 34.66 yuan per share [15][24]. - The board will reassess the situation after March 27, 2026, should the conditions for a downward adjustment be met again [14][24].