证券代码：688513 股票简称：苑东生物 公告编号：2025-014 成都苑东生物制药股份有限公司 关于 2025 年度公司与子公司申请综合授信额度并提 供相互担保的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： ● 担保金额：预计成都苑东生物制药股份有限公司（以下简称："公司"或"本公 司"）自第四届董事会第二次会议审议通过之日起 18 个月内，公司与下属全资子 公司及全资子公司相互之间担保额度总额不超过人民币 8.5 亿元。 ● 被担保人：本公司、公司的全资子公司四川青木制药有限公司、西藏润禾药业 有限公司、四川阳光润禾药业有限公司、成都硕德药业有限公司、成都优洛生物 科技有限公司、优洛生物（上海）有限公司、成都苑东大药房有限公司、苑东生 物投资管理（上海）有限公司。 ● 对外担保逾期的累积数量：无。 一、2025 年度申请综合授信额度并提供担保情况概述 （一）基本情况 2025 年度公司及全资子公司拟向银行等金融机构申请不超过人民币 8.5 亿 元的综合授信额度，授信额度在有效期内可循环使用。 ...

内幕信息为公开重大信息商业秘密个人隐私不得涉及可能引发不当炒作或股价异常波动的敏感信息不得涉及影响社会或资本市场稳定的言论未经华创证券事先书面许可任何机构或个人不得以任何形式复制刊载转载转发引用本次会议内容 否则由此造成的一切后果及法律责任由该机构或个人承担本公司保留追究其法律责任的权利市场有风险投资需谨慎各位投资者晚上好我是华创医药组的郑成欢迎大家参加我们本周的投资观点和研究专题汇报截止到上周医药行业在整体 A股的一级行业里面表现还是比较愉快的在31个一级行业里面排第7位也是符合我们对今年行情至少重商的判断然后最近期的赛道现在依然是创新要不仅有政策上的支持然后BD出口还有国内的这样的一个持续放量 然后反转的方向呢因为去年是医药这个整体基本面最差的一年反转的方向呢这个已经明确的包括像这个C超与KN服务包括像医疗设备然后消费医疗这块的话我们依然是在持续的观望然后这块也比较重要因为权重比较大然后呢这个周末大家关注的比较高的还是关税这个 中国的这个医药行业整体对美国的用量其实并不大尤其是跟欧洲一些国家相比反倒是这个美国对中国的这个医药产业的这个业务体量更大如果是这个关税是针锋相对的其实对整个行业来说的话整体而言的话 ...

苑东生物公告，公司全资子公司成都优洛生物科技有限公司自主研发的1类生物药EP-9001A注射液已完 成用于骨转移癌痛的Ib期临床试验并取得初步统计分析结果。EP-9001A注射液是一种人源化单克隆抗 体药物，靶点为人神经生长因子(NGF)，通过选择性靶向结合并抑制NGF，阻止疼痛信号进入脊髓和大 脑。初步统计分析结果显示，试验药物安全性良好，低、中、高剂量组均未发生剂量限制性毒性及严重 不良反应。药代动力学结果显示，随着剂量增加，药物体内暴露量增大，半衰期明显延长。初步有效性 结果显示，中、高剂量组第6~8周每日最高疼痛强度数字评分量表(NRS评分)和每日平均疼痛强度NRS 评分结果表明EP-9001A注射液镇痛效果明显且持续。 ...

Core Views - The report maintains a positive outlook on the biopharmaceutical industry, expecting it to outperform the market due to minimal impact from recent U.S. tariff policies on drug sectors [4][5] - The report emphasizes continued optimism for innovative drugs and sectors related to consumer recovery, highlighting the resilience of the pharmaceutical sector amidst tariff changes [4][5] Industry Insights - The recent U.S. tariff policy has a limited effect on the pharmaceutical sector, with most drugs, including various chemical drugs, vaccines, and biological products, exempt from tariffs. Raw materials like vitamins and amino acids are also on the exemption list [4][27] - The report suggests that the innovative drug sector has shown significant growth, providing a selection of quality stocks based on criteria such as strong fundamentals, potential in research pipelines, and favorable cash positions [4][5] Investment Strategy - The report recommends focusing on four main themes: "Innovation," "Going Global," "Equipment Upgrades," and "Consumer Recovery" [5] - **Innovation**: Invest in globally competitive innovative drugs and promising categories, with specific companies highlighted such as BeiGene and East China Pharmaceutical [5] - **Going Global**: Identify opportunities in overseas markets, with companies like Mindray Medical and Sinocare suggested for investment [5] - **Equipment Upgrades**: Expect support for medical equipment updates from government policies, with companies like Mindray Medical and United Imaging Healthcare recommended [5] - **Consumer Recovery**: Anticipate a rebound in sectors like ophthalmology and aesthetic medicine, with companies like Prue Eye Hospital and Tongce Medical highlighted [5] Key Companies to Watch - **Nocare Biopharma**: Expected to achieve revenue of 1.009 billion in 2024, with a 49% year-on-year growth in sales of its core product, Oubatinib [6] - **Sihuan Pharmaceutical**: Strong fundamentals with a stable performance, and a promising pipeline with multiple products expected to be approved between 2025 and 2027 [9] - **East China Pharmaceutical**: Anticipated growth driven by the commercialization of domestic nuclear medicine products and a robust R&D pipeline [10] - **China Biopharmaceutical**: Rapid revenue growth with an increasing proportion of innovative products, indicating potential for accelerated profit growth [11] - **Aier Eye Hospital**: Benefiting from growing demand in ophthalmology and favorable policies for private specialty hospitals, with significant expansion plans [21]

Investment Rating - The report maintains an optimistic outlook on the pharmaceutical industry, suggesting a potential for diverse investment opportunities by 2025 [11]. Core Insights - The pharmaceutical sector is currently undervalued, with public funds showing low allocation to this sector. Positive macroeconomic factors, such as the recovery of U.S. Treasury rates, are expected to drive growth in the industry [11]. - The report emphasizes a shift from quantity to quality in the domestic innovative drug sector, highlighting the importance of product differentiation and internationalization [11]. - The medical device market is experiencing a rebound in bidding volumes, particularly in imaging equipment, and there is a growing focus on home medical devices [11]. - The report identifies a recovery in the innovative chain (CXO + life sciences services) and anticipates a return to high growth for the sector by 2025 [11]. - The traditional Chinese medicine sector is expected to benefit from the introduction of new essential drug directories and state-owned enterprise reforms [13]. - The report highlights the potential for the pharmacy sector to thrive due to prescription outflow and market optimization [13]. - The blood products industry is projected to grow significantly during the 14th Five-Year Plan period, with increased approval for plasma stations [13]. Summary by Sections Market Review - The report notes that the CITIC pharmaceutical index rose by 1.15%, outperforming the CSI 300 index by 2.52 percentage points, ranking third among 30 primary industries [8]. - The top ten stocks by growth include Duorui Pharmaceutical, Oukang Pharmaceutical, and Weisi Medical, while the bottom ten include Dongfang Biological and Nengte Technology [8]. Overall View and Investment Themes - The report suggests that the pharmaceutical industry is at a low valuation, with public fund allocations also low, indicating a potential for growth driven by macroeconomic factors [11]. - It highlights the importance of focusing on differentiated products and internationalization in the innovative drug sector, recommending companies like Hengrui, BeiGene, and others [11]. - The medical device sector is seeing a recovery in bidding volumes, particularly in imaging and home medical devices, with a focus on domestic companies [11]. - The innovative chain is expected to see a rebound in investment, with CXO and life sciences services poised for growth [11]. - The report emphasizes the potential for traditional Chinese medicine and pharmacies to benefit from regulatory changes and market dynamics [13]. Company-Specific Insights - Yuan Dong Biological has maintained a high R&D investment intensity, with 22% of its revenue allocated to R&D in 2023, indicating a strong focus on innovative drug development [17]. - The company has a robust pipeline of high-end generic drugs and is exploring innovative drug candidates, particularly in the area of small molecules and monoclonal antibodies [17][20]. - Yuan Dong's internationalization strategy is focused on the U.S. opioid detoxification market, with several products expected to contribute to revenue by 2025 [23]. - The company is also developing a range of innovative drugs, including NGF monoclonal antibodies and TL1A monoclonal antibodies, which are in various stages of clinical development [32][38].

证券研究报告|医药生物|2025年4月5日 www.hczq.com 华创医药投资观点&研究专题周周谈·第120期 苑东生物研发管线更新 联系人:朱珂琛 | 华创医药团队： | | | --- | --- | | 首席分析师 郑辰 | 执业编号: S0360520110002 邮箱: zhengchen@hcyjs.com | | 联席首席分析师 刘浩 | 执业编号：S0360520120002 邮箱：liuhao@hcyjs.com | | 医疗器械组组长 李焯娟 | 执业编号：S0360520110004 邮箱：lichanjuan@hcyjs.com | | 中药和流通组组长 高初蕾 | 执业编号：S0360524070002 邮箱：gaochulei@hcyjs.com | | 分析师 万梦蝶 | 执业编号: S0360523080008 邮箱: wanmengdie@hcyjs.com | | 分析师 王宏雨 | 执业编号: S0360523080006 邮箱: wanghongyu@hcyjs.com | | 分析师 朱珂琛 | 执业编号: S0360524070007 邮箱: zhukechen ...

-凯铃 管 行情回顾 01 02 板块观点和投资组合 03 行业和个股事件 本周行情回顾 =半创研究 本周中信一级行业指数涨跌幅 本周涨幅排名前/后十名的股票 东方生物 多瑞医药 能特科技 欧康医药 48.62% 双成药业 伟思医疗 31.80% 百普塞斯 哈三联 31.15% 1% 迪瑞圆疗 润都股份 27.01% 0% 昭衍新药 圣诺生物 21.54% -1% 海创药业-U 20.74% 未名医药 -29 药明康德 赛开药业 19.00% 海泰新光 金河生物 18.80% 留非经非 海昇药业 18.39% 30% 10% 20% 40% 609 证监会审核华创证券投资咨询业务资格批文号：证监许可（2009）1210 号 未经许可, 禁止转载 资料来源：Wind，华创证券 w · 本周，中信医药指数上涨1.15%，跑赢沪深300指数2.52个百分点，在中信30个一级行业中排名第3位。 · 本周涨幅前十名股票为多瑞医药、欧康医药、伟思医疗、哈三联、润都股份、圣诺生物、海创药业-U、赛开药业、金河生物、海昇药业, 本周跌幅前十名股票为东方生物、能特科技、双成药业、百普赛斯、迪瑞医疗、昭衍新药、未名医药、药明康德 ...

Investment Rating - The report maintains an "Accumulate" rating for the company [6] Core Views - The company has shown a recovery in performance and is actively expanding into new business areas [1] - The vitamin product segment is expected to recover, while the pharmaceutical segment remains under pressure [9] - The company is implementing a "vertical and horizontal" strategy to expand its business and new product offerings [9] Financial Performance Summary - The company's revenue for 2023 was 1,095 million, with a projected increase to 1,243 million in 2024, representing a year-on-year growth of 13.6% [5] - Operating profit is expected to rise from 207 million in 2023 to 355 million in 2024, reflecting a significant growth of 71.6% [5] - Net profit attributable to the parent company is forecasted to increase from 192 million in 2023 to 309 million in 2024, a growth of 60.8% [5] - Earnings per share are projected to grow from 0.35 in 2023 to 0.57 in 2024 [5] - The gross margin is expected to be 58.4% in 2024, with a net margin of 24.9% [5] Earnings Forecast and Investment Recommendations - The report adjusts revenue forecasts for vitamin products and pharmaceuticals while increasing the gross margin for vitamin products [3] - The projected earnings per share for 2025-2027 are 0.88, 1.05, and 1.36 respectively [3] - Based on comparable companies, a target price of 14.96 is set for 2025, corresponding to a 17 times price-to-earnings ratio [3]

（一）《中华人民共和国公司法》等关于董事任职资格的规定； （二）《中华人民共和国公务员法》关于公务员兼任职务的规定（如适用）； （三）中国证监会《上市公司独立董事管理办法》和上海证券交易所自律监 管规则有关独立董事任职资格和条件的相关规定； 成都苑东生物制药股份有限公司 独立董事候选人声明与承诺 本人方芳，已充分了解并同意由提名人成都苑东生物制药股份有限公司董事 会提名为成都苑东生物制药股份有限公司第四届董事会独立董事候选人。本人公 开声明，本人具备独立董事任职资格，保证不存在任何影响本人担任成都苑东生 物制药股份有限公司独立董事独立性的关系，具体声明并承诺如下： 一、本人具备上市公司运作的基本知识，熟悉相关法律、行政法规、部门规 章及其他规范性文件，具有五年以上法律、经济会计、财务、管理等履行独立董 事职责所必需的工作经验。 二、本人任职资格符合下列法律、行政法规和部门规章以及公司规章的要求： （一）在上市公司或者其附属企业任职的人员及其直系亲属和主要社会关系 （直系亲属是指配偶、父母、子女等；主要社会关系是指兄弟姐妹、兄弟姐妹的 配偶、配偶的父母、配偶的兄弟姐妹、子女的配偶、子女配偶的父母等）； 三、本人 ...

成都苑东生物制药股份有限公司 重大信息内部报告制度 第一章 总则 第一条 为保证成都苑东生物制药股份有限公司（以下简称"公司"） 信息 披露及时、准确、真实、完整，明确公司重大信息的收集和管理办法，完善信息 报告联络渠道，确保公司规范运作，根据《中华人民共和国公司法》、《中华人 民共和国证券法》、《上海证券交易所科创板股票上市规则》（以下简称"《上 市规则》"）、《上市公司信息披露管理办法》、《成都苑东生物制药股份有限 公司章程》（以下简称"公司章程"）、《成都苑东生物制药股份有限公司信息披 露管理制度》（以下简称"信息披露管理制度"）等有关规定，结合公司实际，特 制定本制度。 第二条 公司重大信息内部报告制度是指当出现、发生或即将发生可能对本 公司股票及其衍生品种交易价格产生较大影响的情形或事件时，按照本制度规定 负有报告义务的有关人员、部门和单位，应及时将重大信息通过董事会秘书向公 司董事会报告。 第三条 本制度所称"信息报告义务人"主要包括： （一）公司控股股东、实际控制人、持有公司 5%以上股份的其他股东； （二）公司董事、监事、高级管理人员； （六）公司派驻参股公司的董事、监事和高级管理人员； （六 ...