证券代码：600789 证券简称：鲁抗医药 公告编号：2025-058 山东鲁抗医药股份有限公司 上述签署的《募集资金专户存储三方监管协议》内容与上海证券交易所《募 集资金专户存储三方监管协议（范本）》不存在重大差异。 关于公司及全资子公司签署募集资金专户存储监管协议的公告 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、准确性和完整性承担法律责任。 一、募集资金基本情况 经中国证券监督管理委员会《关于同意山东鲁抗医药股份有限公司向特定对 象发行股票注册的批复》（证监许可〔2025〕2158号）核准，山东鲁抗医药股份 有限公司（以下简称"公司"）向特定对象发行人民币普通股（A股）146,520,146 股，发行价格8.19元/股，募集资金总额为人民币1,199,999,995.74元，扣除发 行费用计人民币13,170,857.06元（不含增值税）后，实际募集资金净额为人民 币1,186,829,138.68元。 本次募集资金已于2025年12月15日到账，经和信会计师事务所（特殊普通合 伙）审验，并于2025年12月17日出具了和信验字（2025）第00 ...

Investment Rating - The report maintains a "Recommendation" rating for the animal health industry, indicating an expectation of the industry index outperforming the benchmark index by more than 5% in the next 3-6 months [3][80]. Core Insights - In November, the majority of vaccine products saw a year-on-year decline in batch approvals, with only the diarrhea vaccine showing a positive growth of +25.8%. Other vaccines, such as foot-and-mouth disease and pseudorabies vaccines, experienced declines ranging from -4.3% to -66.7% [8][9]. - The Veterinary Product Index (VPI) for raw materials has shown a continuous decline for two consecutive months, with a current index of 67.23, down 1.1% from the end of November. However, it is still up 2.1% year-on-year [51][55]. - The report highlights a significant differentiation in company performance within the industry, with successful companies demonstrating innovation in products, marketing, and capital operations [69][71]. Summary by Sections Vaccine Batch Approvals - In November, most vaccine products saw a decline in batch approvals compared to the previous year, with notable decreases in various pig vaccines. The only exception was the diarrhea vaccine, which increased by +25.8% [8][9]. - Cumulatively from January to November, several vaccine types, including the circular virus vaccine and the diarrhea vaccine, showed positive growth, with the circular virus vaccine increasing by +14.8% [9][10]. Veterinary Raw Material Prices - The VPI index has decreased for two consecutive months, with a current value of 67.23, reflecting a 1.1% drop from November's end. The prices of various raw materials, such as tylosin and florfenicol, have also seen declines [51][55]. - The report notes that the market sentiment for veterinary raw materials is cooling due to low demand and a lack of strong market support, leading to a weak operational state expected in the short term [55][69]. Investment Recommendations - The report suggests focusing on undervalued companies with improvement logic, highlighting that companies with innovative capabilities are likely to perform better in the current market environment [69][71]. - Specific companies recommended for attention include Zhongmu Co., Ltd., Reap Bio, Kexin Bio, and others, which are expected to benefit from the ongoing market dynamics [71].

山东鲁抗医药股份有限公司 2024 年度向特定对象发行 A 股股票发行情况报告书 证券代码：600789 证券简称：鲁抗医药 山东鲁抗医药股份有限公司 （山东省济宁高新区德源路 88 号） 2024 年度向特定对象发行 A 股股票 发行情况报告书 保荐人（联席主承销商）：中国国际金融股份有限公司 联席主承销商：方正证券承销保荐有限责任公司 二〇二五年十二月 1 山东鲁抗医药股份有限公司 2024 年度向特定对象发行 A 股股票发行情况报告书 发行人全体董事、高级管理人员声明 本公司及全体董事、高级管理人员承诺本发行情况报告书不存在虚假记载、误导性 陈述或重大遗漏，并对其真实性、准确性、完整性承担相应的法律责任。 董事签字： 彭 欣 董 坤 赵 伟 张 晶 张成勇 刘承通 山东鲁抗医药股份有限公司 2 年 月 日 山东鲁抗医药股份有限公司 2024 年度向特定对象发行 A 股股票发行情况报告书 发行人全体董事、高级管理人员声明 本公司及全体董事、高级管理人员承诺本发行情况报告书不存在虚假记载、误导性 冯立亮 山东鲁抗医药股份有限公司 3 陈述或重大遗漏，并对其真实性、准确性、完整性承担相应的法律责任。 独立董事 ...

关于2024 年度向特定对象发行A 股股票发行情况的提示性公告 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、准确性和完整性承担法律责任。 山东鲁抗医药股份有限公司（以下简称"公司"）本次向特定对象发行A股 股票（以下简称"本次发行"）的发行承销总结及相关文件已经上海证券交易所 备案通过，公司将依据相关规定尽快办理本次发行新增股份的登记托管事宜。 证券代码：600789 证券简称：鲁抗医药 公告编号：2025-057 山东鲁抗医药股份有限公司 特此公告。 山东鲁抗医药股份有限公司董事会 2025 年 12 月 23 日 本次发行的具体情况详见公司同日在上海证券交易所网站披露的《山东鲁抗 医药股份有限公司2024年度向特定对象发行A股股票发行情况报告书》及相关发 行文件。 ...

山东昌抗医药股份有限公司 验资报告 和信验字 (2025) 第 000041 号 目 录 页 码 一、验资报告 1-3 二、附件 1、新增注册资本实收情况明细表 2、注册资本及实收资本(股本)变更前后对照表 3、验资事项说明 4、银行询证函 和信会计师事务所(特殊普通合伙) 二〇二五年十二月十七日 山东鲁抗医药股份有限公司 验资报告正文 验 资 报 告 和信验字(2025)第 000041 号 山东鲁抗医药股份有限公司: 我们接受委托,审验了山东鲁抗医药股份有限公司(以下简称"贵公司")截至 2025 年 12月 15 日止新增注册资本及股本情况。按照法律法规以及协议、章程的要求出资, 提供真实、合法、完整的验资资料,保护资产的安全、完整是全体股东及贵公司的责任。 我们的责任是对贵公司新增注册资本及股本情况发表审验意见。我们的审验是依据《中 国注册会计师审计准则第1602号—验资》进行的。在审验过程中,我们结合贵公司的实 际情况,实施了检查等必要的审验程序。 贵公司本次变更前注册资本为人民币 898, 669, 632. 00 元, 股本 898, 669, 632. 00 元。 根据《鲁抗医药 2024年第 ...

北京市通商律师事务所 关于山东鲁抗医药股份有限公司 2024年度向特定对象发行A股股票 发行过程和认购对象合规性的 法律意见书 二〇二五年十二月 中国北京市建国门外大街 1 号国贸写字楼 2 座 12-15 层 100004 12-15th Floor, China World Office 2, No. 1 Jianguomenwai Avenue, Beijing 100004, China 电话 Tel: +86 10 6563 7181 传真 Fax: +86 10 6569 3838 电邮 Email: beijing@tongshang.com 网址 Web: www.tongshang.com 北京市通商律师事务所 关于山东鲁抗医药股份有限公司 2024年度向特定对象发行A股股票发行过程 和认购对象合规性的法律意见书 致：山东鲁抗医药股份有限公司 北京市通商律师事务所（以下简称"本所"）是具有中华人民共和国（为本法 律意见书之目的，不包括香港特别行政区、澳门特别行政区和台湾地区，以下简 称"中国"）法律执业资格的律师事务所。本所接受鲁抗医药的委托，作为山东鲁 抗医药股份有限公司 2024 年度向 ...

中国国际金融股份有限公司、 方正证券承销保荐有限责任公司 关于 山东鲁抗医药股份有限公司 发行过程和认购对象合规性的报告 保荐人（联席主承销商）：中国国际金融股份有限公司 向特定对象发行股票 联席主承销商：方正证券承销保荐有限责任公司 二〇二五年十二月 上海证券交易所： 山东鲁抗医药股份有限公司（以下简称"鲁抗医药""发行人"或"公司"） 2024 年度向特定对象发行 A 股股票（以下简称"本次发行"）已获得中国证券 监督管理委员会（以下简称"中国证监会"）证监许可〔2025〕2158 号文同意 注册批复。 中国国际金融股份有限公司（以下简称"中金公司"或"保荐人（联席主承 销商）"）及方正证券承销保荐有限责任公司（以下简称"方正承销保荐"）（中 金公司、方正承销保荐统称"联席主承销商"）作为鲁抗医药本次发行的联席主 承销商，根据《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》"）《证券发行与承销管理办法》（以 下简称"《承销管理办法》"）《上市公司证券发行注册管理办法》（以下简称 "《注册管理办法》"）《上海证券交易所上市公司证券发行与承销业务实施细 则》（ ...

Core Viewpoint - Luantang Pharmaceutical is implementing a capital increase plan totaling 1.2 billion yuan to seek new balance amid slowing industry growth, with funds allocated for high-end formulation workshops, biopesticide bases, and new drug research and development [1][2] Group 1: Capital Increase Plan - The company plans to issue up to approximately 270 million A-shares, with a maximum fundraising target of 1.2 billion yuan [1] - The controlling shareholder, Hualu Group, has committed to subscribe for no less than 23.81% of the shares, amounting to about 64.2 million shares, which is seen as a stabilizing factor for market expectations [2] - Approximately 400 million yuan will be allocated to the construction of high-end formulation intelligent manufacturing workshops to enhance production capacity for chronic disease medications [2] Group 2: Financial Performance - In the first three quarters of 2025, the company's net profit attributable to shareholders fell to 141 million yuan, a year-on-year decline of 59.32%, primarily due to the absence of one-time land reserve income [1][7] - The company's revenue for the same period was 4.624 billion yuan, a slight decrease of 0.91% year-on-year, indicating challenges in maintaining revenue growth [7] - Cash flow from operating activities decreased by 24.4% year-on-year to 306 million yuan, suggesting potential issues with cash collection despite reported profits [7] Group 3: Industry Challenges - The pharmaceutical manufacturing industry is transitioning from rapid growth to high-quality development, facing pressure from cost control and research innovation [5] - The core infection business is under pressure from both "antibiotic restrictions" and volume-based procurement, leading to a continuous compression of profit margins in the existing market [5] - In the chronic disease medication sector, intense price competition is evident, with mature generic drugs entering a "micro-profit era" [5] Group 4: Strategic Focus - The company aims to reduce unit production costs through intelligent upgrades in its high-end formulation workshop [6] - Luantang Pharmaceutical is also exploring growth in the non-human medication sector, with veterinary medicine sales projected at 2.476 billion yuan in 2024, accounting for about 40% of total revenue [6] - The company plans to invest 400 million yuan in a biopesticide production base, aiming to leverage synergies across human, veterinary, and agricultural medications [6] Group 5: R&D and Financial Strategy - The company adopts an aggressive capitalization strategy for R&D expenditures, with approximately 154 million yuan allocated to three new drug projects, representing about 77% of the planned R&D investment [3] - A total of 200 million yuan from the fundraising will be used to supplement working capital, which is about 16.7% of the total funds raised [3] - The company faces challenges in managing fixed costs and ensuring that investment projects generate timely returns to avoid further pressure on profits [4][8]

Group 1 - Lu Kang Pharmaceutical plans to increase capital by 109 million yuan to its wholly-owned subsidiary Bio-Pesticide Company and 27 million yuan to Ze Run Company, aiming to expand its pesticide and sales sectors [1] - Hui Green Ecology intends to sell two properties in Ningbo for 12.52 million yuan, expecting a net profit impact of approximately 6.23 million yuan from the transaction [2] - Tianyuan Co., Ltd. plans to invest 185 million yuan in an intelligent upgrade project for its titanium dioxide production facilities [3] Group 2 - Metro Design has received approval from the Shenzhen Stock Exchange for its share issuance to acquire 100% equity of Guangzhou Metro Engineering Consulting Co., Ltd. for 511 million yuan [4] - South Network Energy announced a mid-term profit distribution plan for 2025, proposing a cash dividend of 0.07 yuan per 10 shares [5] - Qibin Group plans to establish two wholly-owned subsidiaries in Shenzhen with a registered capital of 100 million yuan each [6] Group 3 - All New Good received an administrative regulatory decision from the Shenzhen Securities Regulatory Bureau due to issues in financial accounting and information disclosure [7] - Luokai Co., Ltd. announced that its shareholders plan to reduce their holdings by up to 3% of the company's shares [8][9] - Jincheng Pharmaceutical's actual controller received an administrative penalty from the CSRC for stock manipulation, leading to the resignation of the chairman [10] Group 4 - Yicheng New Energy intends to acquire a 7.69% stake in Kaifeng Times for 10 million yuan, enhancing its strategic development [11] - Yujing Co., Ltd. signed a sales contract worth approximately 28.6 million USD with an overseas photovoltaic company [12] - Nuocheng Jianhua's TRK inhibitor, Zoltracitinib, has been approved for market entry in China [13] Group 5 - Nandu Power announced that its controlling shareholder is planning a change in control, leading to a temporary suspension of its stock [14] - Xinxing Casting plans to acquire 100% equity of China Resources Steel for 1.244 billion yuan to focus on special steel development [15] - Xinlitai is planning to issue H-shares and list on the Hong Kong Stock Exchange [16] Group 6 - Blue Fan Medical's subsidiary received approval for a new medical device, the coronary artery scoring balloon dilation catheter [18] - China Iron & Steel plans to establish a joint venture with several companies to provide new energy transportation solutions with a registered capital of 500 million yuan [19] - Jifeng Technology intends to sign a cooperation framework agreement with Dongtai Lianfei for a total transaction amount not exceeding 100 million yuan [20] Group 7 - Zhongwei Electronics announced a change in its actual controller, with stock resuming trading [21] - Weihong Co., Ltd. plans to reduce its holdings by up to 1.15% of the company's shares [22] - Te Fa Information received a criminal judgment related to a fraud case involving the acquisition of Shenzhen Te Fa Dongzhi Technology Co., Ltd. [23] Group 8 - Sunshine Dairy's controlling shareholder's concerted action plans to reduce holdings by up to 3% of the company's shares [24] - Meikailong reported that Taobao Holdings and New Retail Fund collectively reduced their H-shares by 30.616 million shares [25] - Xinjubang plans to issue H-shares and apply for listing on the Hong Kong Stock Exchange [26] Group 9 - Beite Technology's application for issuing A-shares to specific objects has been approved by the Shanghai Stock Exchange [28] - Victory Energy's controlling shareholder is planning a change in control, with stock resuming trading [29] - Jiutian Pharmaceutical signed a patent and technology transfer agreement for a small molecule analgesic drug project, with a total transfer fee not exceeding 400 million yuan [29]

Group 1: Moer Thread - Moer Thread's new products and architecture are currently in the research phase, and mass production and revenue generation will take time [1][2] - The company issued a stock trading risk warning due to significant recent stock price increases, which may lead to potential short-term declines [1] Group 2: Nandu Power - Nandu Power's controlling shareholder is planning a change in company control, leading to a suspension of trading starting December 12, 2025 [3] - No agreements have been signed yet, and specific transaction details are still under discussion [3] Group 3: Victory Energy - Victory Energy's controlling shareholder is set to change to Qiteng Robotics, with trading resuming on December 12, 2025 [4][6] - A share transfer agreement has been signed, with 84.64 million shares (29.99% of total shares) being transferred [5] Group 4: Capital Increases and Restructuring - Springlight Technology plans to raise up to 776.33 million yuan through a private placement for various projects [7] - New Zhuobang intends to issue H-shares and list on the Hong Kong Stock Exchange, with details still being finalized [8] Group 5: Acquisitions - Zhaoxin Co. signed an agreement to acquire 70% of Youde New Energy, enhancing its capabilities in the renewable energy sector [9] - Yicheng New Energy plans to acquire a 7.6923% stake in Kaifeng Times New Energy for 10 million yuan, increasing its stake to 46.1538% [9] Group 6: Financial Performance - Huadong Pharmaceutical reported a 23.09% year-on-year increase in pig sales volume, with sales revenue of 344 million yuan [13] - The company also noted a 16.27% year-on-year decline in sales revenue despite a slight increase in average selling price [13]