Summary of the Conference Call for Boya Bio-Pharmaceuticals Company Overview - **Company**: Boya Bio-Pharmaceuticals - **Industry**: Blood products and biopharmaceuticals Key Points and Arguments Financial Performance - For the first three quarters of 2025, Boya achieved total revenue of **1.473 billion** CNY, with a net profit attributable to shareholders of **342 million** CNY. Revenue growth rate was **18.38%**, while net profit decreased by **16.9%** compared to the previous year, primarily due to the acquisition of Green Cross in November 2024 contributing to revenue growth [3][4][21]. Market Dynamics - The blood products market is experiencing stable demand growth, but pricing pressures due to market supply-demand mismatches and healthcare cost controls are impacting profitability. The Guangdong Alliance procurement price has been established, prompting the company to optimize its marketing strategies [2][6][21]. - The industry is facing a slowdown in sales growth, influenced by post-pandemic blood donation pressures and a decrease in the number of approved collection stations in Xinjiang [9][10]. Strategic Initiatives - Boya is focusing on its blood products business by divesting non-core assets and enhancing the quality of plasma collection services. Plasma collection volume increased by **5.2%** year-on-year to **492 tons** in the first three quarters [2][5][8]. - The company plans to expand its plasma collection network across key regions in China, including East, Central, South, and Southwest China, while also enhancing existing collection stations [10][11]. R&D and Product Development - Boya aims to expand its product line and improve the yield and value of plasma collected. The company is also enhancing its marketing efforts to promote professional and academic marketing strategies, with a focus on international business development [11][21]. - A high-concentration product received approval in June 2025, with plans for market entry in 2026. Pricing strategies for this product are still under consideration [4][19][15]. Acquisition and Growth Strategy - The company is actively pursuing acquisition opportunities, particularly with Danxia, and is leveraging the support of China Resources Group to facilitate these efforts [16][17]. - Boya is also exploring international market opportunities and has made significant progress in exporting products to countries like Brazil, Pakistan, and the Dominican Republic [22][23]. Challenges and Future Outlook - The blood products industry is facing challenges such as price declines and varying degrees of profit pressure across companies. However, the recent procurement situation indicates that price reductions have been relatively moderate [26]. - Boya anticipates that the clinical usage of blood products will continue to expand due to economic growth and an aging population, despite short-term pricing pressures. The company is committed to adjusting its operational policies to navigate market changes and aims for stable growth in the future [21][26]. Production Capacity - The company is constructing a smart factory with a designed capacity of **1,200 tons**, which is expected to enhance overall production capacity. The existing capacity from Green Cross is approximately **200 tons**, which is currently sufficient [4][12]. Inventory and Sales Trends - The sales of albumin and other products have shown growth, but pricing pressures remain. The company is focusing on maintaining reasonable inventory levels while managing production to meet market demands [14][19]. This summary encapsulates the key insights from the conference call, highlighting the company's financial performance, market dynamics, strategic initiatives, and future outlook in the blood products industry.

证券代码：300294 证券简称：博雅生物 公告编号：2025-079 二、本次对外投资进展情况 华润博雅生物制药集团股份有限公司 关于参与设立华润医药产业投资基金二期暨关联交易的进展公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 一、对外投资基本情况 为落实华润博雅生物制药集团股份有限公司（以下简称公司或华润博雅生物） 发展战略，有效控制创新项目前期风险，储备优质战略项目资源，提升公司中长 期持续发展与盈利能力，公司于 2025 年 7 月 17 日召开第八届董事会第十四次会 议、第八届监事会第十一次会议，审议通过了《关于参与设立华润医药产业投资 基金二期暨关联交易的议案》，同意公司与普通合伙人华润医药科技（成都）合 伙企业（有限合伙）【原暂定名称为：华润医药(成都)企业管理合伙企业(有限合 伙)】及华润医药投资有限公司等 10 家有限合伙人共同设立华润（成都）医药产 业股权投资基金合伙企业（有限合伙）【暂定名，以工商核准名为准，原暂定名 称为：华润医药(成都）创新投资基金合伙企业（有限合伙），以下简称本基金 或该基金】。该基金规模为 10 亿元人民币，深圳 ...

Group 1 - The core point of the article is that Boya Bio (SZ 300294) held its 16th meeting of the 8th Board of Directors on October 27, 2025, to review the performance contracts for the management team for the year 2025 [1] - For the first half of 2025, Boya Bio's revenue composition is as follows: blood products account for 84.58%, biochemical drugs for 8.63%, pharmaceutical distribution for 6.12%, other industries for 0.65%, and other businesses for 0.02% [1] - As of the report date, Boya Bio has a market capitalization of 12.4 billion yuan [1]

Group 1 - The core viewpoint of the article is that Boya Bio reported significant growth in its financial performance for the third quarter of 2025, indicating a strong business trajectory [1] Group 2 - In the third quarter of 2025, the company achieved operating revenue of 466,151,253.70 yuan, representing a year-on-year increase of 33.43% [1] - The net profit attributable to shareholders of the listed company was 117,620,874.70 yuan, reflecting a year-on-year growth of 21.59% [1]

Core Viewpoint - China Resources Pharmaceutical (03320) announced that its subsidiary, China Resources Boya Bio (300294), achieved a total operating revenue of 1.474 billion RMB for the nine months ending September 30, 2025, representing a year-on-year growth of 18.4%. However, the net profit was 343 million RMB, showing a year-on-year decline of 16.8% [1] Summary by Category - **Revenue Performance** - China Resources Boya Bio reported total operating revenue of 1.474 billion RMB for the nine months ending September 30, 2025, which is an increase of 18.4% compared to the previous year [1] - **Profitability** - The net profit for the same period was 343 million RMB, reflecting a decrease of 16.8% year-on-year [1]

Group 1 - The core viewpoint of the article highlights the financial performance of China Resources Pharmaceutical's subsidiary, China Resources Boya Biopharmaceutical, for the nine months ending September 30, 2025, showing a revenue increase but a decline in net profit [1] Group 2 - The company's operating revenue reached approximately RMB 1.474 billion, representing a year-on-year growth of 18.4% [1] - The net profit for the same period was approximately RMB 343 million, reflecting a year-on-year decrease of 16.8% [1]

Group 1 - The core point of the article is that China Resources Pharmaceutical announced its subsidiary, China Resources Boya Biopharmaceutical, achieved total operating revenue of 1.474 billion RMB for the nine months ending September 30, 2025, representing a year-on-year growth of 18.4% [1] - The net profit for the same period was 343 million RMB, which reflects a year-on-year decline of 16.8% [1]

Core Viewpoint - Tian Tan Biological Products Co., Ltd. reported an increase in revenue but a decrease in net profit for the first three quarters of 2025, indicating challenges in the blood products industry such as declining product prices and intensified competition [1][2]. Financial Performance - For the first three quarters of 2025, the company achieved total revenue of 4.465 billion yuan, a year-on-year increase of 9.62%, while net profit attributable to shareholders was 819 million yuan, a decline of 22.16% [2]. - In Q3 2025, revenue was 1.355 billion yuan, up 9.96% year-on-year, but net profit fell to 186 million yuan, down 42.84% [2]. - The company's gross profit margin for the first three quarters was 43.81%, down from 45.4% in the first half of the year and 54.7% in 2024 [2]. Industry Context - The blood products industry is facing pressure, with many companies reporting declining profits due to factors such as falling product prices, increased market competition, and the impact of imported products [5][7]. - Tian Tan Biological has maintained a leading position in the industry, with revenue growing from 3.282 billion yuan in 2019 to 6.032 billion yuan in 2024, and net profit increasing from 611 million yuan to 1.549 billion yuan during the same period [5][6]. Operational Insights - The company relies on sufficient plasma collection from its blood plasma stations to maintain profitability, with a total of 107 plasma stations, of which 85 are operational, collecting 1,361 tons of plasma, representing about 20% of the domestic market [7]. - The competitive landscape in the blood products sector is described as very intense, necessitating continuous innovation and enhancement of competitive advantages for companies like Tian Tan Biological [8].

证券代码：300294 证券简称：博雅生物 公告编号：2025-072 华润博雅生物制药集团股份有限公司 表决结果：3 票同意，0 票反对，0 票弃权。 2、审议通过《关于使用部分闲置自有资金进行现金管理的议案》 具体内容详见同日在巨潮资讯网（网址：http://www.cninfo.com.cn）披露的 《公司关于使用部分闲置自有资金进行现金管理的公告》。 第八届监事会第十三次会议决议公告 本公司及监事会全体成员保证公告内容真实，准确和完整，没有虚假记载， 误导性陈述或重大遗漏。 一、监事会会议召开情况 华润博雅生物制药集团股份有限公司（以下简称公司）第八届监事会第十三 次会议于 2025 年 10 月 22 日以邮件及通讯方式通知，并于 2025 年 10 月 27 日在 公司会议室以现场加通讯表决的方式召开。会议应参加表决监事 3 人，实参加表 决监事 3 人。会议由监事会主席周娇女士主持，公司部分高级管理人员列席会议。 本次会议符合《中华人民共和国公司法》、《中华人民共和国证券法》《深圳证 券交易所创业板股票上市规则》《深圳证券交易所上市公司自律监管指引第 2 号 ——创业板上市公司规范运作》及《公司 ...

证券代码：300294 证券简称：博雅生物 公告编号：2025-070 华润博雅生物制药集团股份有限公司 第八届董事会第十六次会议决议公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 一、董事会会议召开情况 华润博雅生物制药集团股份有限公司（以下简称公司）第八届董事会第十六 次会议于 2025 年 10 月 22 日以邮件及通讯方式通知，并于 2025 年 10 月 27 日在 公司会议室以现场加通讯表决的方式召开。会议应参加表决董事 9 人，实参加表 决董事 9 人。会议由董事长邱凯先生主持，公司监事及高级管理人员列席了会议。 本次会议符合《中华人民共和国公司法》（以下简称《公司法》）、《中华人民 共和国证券法》（以下简称《证券法》）、《深圳证券交易所创业板股票上市规 则》《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运 作》及《公司章程》等相关规定。经充分讨论，审议通过了以下议案。 二、董事会会议审议情况 具体内容详见同日在巨潮资讯网（网址：http://www.cninfo.com.cn）披露的 《公司 2025 年第三季度报告》。 ...