Core Viewpoint - The company Baicheng Pharmaceutical (301096.SZ) reported a significant decline in revenue and net profit for the year 2024 and the first quarter of 2025, indicating financial distress and operational challenges [2][3][4]. Financial Performance Summary - In 2024, the company achieved operating revenue of 802 million yuan, a decrease of 21.18% compared to 2023 [2][3]. - The net profit attributable to shareholders was -52.74 million yuan, a decline of 119.39% from the previous year's profit of 271.97 million yuan [2][3]. - The net profit after deducting non-recurring gains and losses was -72.63 million yuan, down 128.07% from 258.79 million yuan in 2023 [2][3]. - The net cash flow from operating activities was -195.86 million yuan, compared to a positive cash flow of 90.45 million yuan in the previous year, marking a 316.53% decrease [2][3]. Q1 2025 Performance Summary - For the first quarter of 2025, the company reported operating revenue of 129 million yuan, a decline of 40.32% year-on-year [4]. - The net profit attributable to shareholders was -26.20 million yuan, a decrease of 152.59% from the previous year's profit of 49.82 million yuan [4]. - The net profit after deducting non-recurring gains and losses was -36.18 million yuan, down 174.26% from 48.72 million yuan in the same period last year [4]. - The net cash flow from operating activities was -70.03 million yuan, an improvement of 42.59% compared to -121.98 million yuan in the previous year [4]. Stock Market Performance - Baicheng Pharmaceutical was listed on the Shenzhen Stock Exchange's ChiNext board on December 20, 2021, with an initial price of 79.60 yuan per share [5]. - The stock reached a high of 120 yuan on its first trading day but has since experienced a downward trend, currently trading below its initial offering price [4][5]. Fundraising and Use of Proceeds - The company issued 27.04 million shares, raising a total of 2.153 billion yuan, with a net amount of 1.863 billion yuan after deducting issuance costs [5][6]. - The final net fundraising amount exceeded the original plan by 1.213 billion yuan, with the funds intended for the headquarters and R&D center project in Hangzhou [5].

毕得医药(688073)近日召开了终止发行股份购买资产并募集配套资金事项投资者说明会，针对近期市场 关注的公司终止收购Combi-Blocks,Inc.股权事宜解答投资者提问。 今年1月，毕得医药公告，公司拟发行股份购买维梧(苏州)健康产业投资基金(有限合伙)、Vivo Cypress X,Co.Limited所持珠海维播投资有限公司的部分股权并募集配套资金，从而实现对最终目标公司Combi- Blocks,Inc.的控制。此次交易预计构成《上市公司重大资产重组管理办法》规定的重大资产重组。 毕得医药此前表示，此次交易高度契合上市公司全球化战略定位。公司将以加速全球化布局为战略目 标，致力于进一步实现市场全球化、资本全球化和人才全球化发展。 说明会上，毕得医药提到，此次收购终止不会影响既定的全球化战略布局。公司始终将全球化作为长期 发展战略，收购只是多种方式之一；同时，公司拥有快速反应的能力和多元化的实施方案，确保全球化 进程不受单一事件影响，对实现长期全球化发展目标充满信心。 就此次交易终止的影响，毕得医药从经营层面表示，该事项不会对公司的发展战略、经营规划造成重大 不利影响。未来公司将继续围绕既定的战略目 ...

Core Points - WuXi AppTec announced a plan to repurchase A-shares through centralized bidding on April 8, 2025 [2] - The company disclosed its top ten unrestricted shareholders as of April 8, 2025, with HKSCC NOMINEES LIMITED holding approximately 387 million shares, accounting for 13.4% of the total [2] - The total shares held by the top ten circulating shareholders amount to approximately 1.22 billion shares, representing 42.25% of the total shares [2] Shareholder Summary - HKSCC NOMINEES LIMITED: 387 million shares (13.4%) [2] - Hong Kong Central Clearing Limited: 240 million shares (8.31%) [2] - G&C VI Limited: 143 million shares (4.95%) [2] - G&C IV Hong Kong Limited: 105 million shares (3.62%) [2] - Beijing Zhongmin Yinxu Investment Management Co., Ltd.: 87.07 million shares (3.02%) [2] - G&C V Limited: 73.11 million shares (2.53%) [2] - Industrial and Commercial Bank of China - SSE 50 ETF: 48.91 million shares (1.69%) [2] - Industrial and Commercial Bank of China - China Europe Medical Health Mixed Fund: 46.10 million shares (1.6%) [2] - Bank of China - Huabao CSI Medical ETF: 46.01 million shares (1.59%) [2] - China Construction Bank - E Fund CSI 300 Medical and Health ETF: 44.50 million shares (1.54%) [2]

药明康德(02359.HK)：公司宣布将于2025年4月28日（星期一）召开董事会会议，以考虑及批准（其中 包括）本集团截至2025年3月31日止三个月之第一季业绩及其发布。 ...

经济观察报记者张晓晖2025年4月10日上午10点至11点，无锡药明康德（603259）新药开发股份有限公 司(603259.SH，下称"药明康德")在上证路演中心召开2024年业绩说明会。出席业绩说明会的公司高管 有执行董事、联席首席执行官陈民章，副董事长、全球首席投资官胡正国，执行董事、联席首席执行官 杨青，独立董事卢韶华，首席财务官施明和董事会秘书张远舟。 2024年，药明康德作为中国新药研发的巨头，一共取得392.41亿元(人民币，下同)的营业收入，同比下 滑2.73%；归属于上市公司股东的净利润为94.50亿元，同比下滑1.63%。 这是2018年上市以来，药明康德首次出现营收和业绩双双下滑。 业绩会焦点 近期，美国所谓"对等关税"令全球资本市场动荡。药明康德的A股股价从65元/股跌至最低的48.48元/ 股。4月11日，药明康德的股价收盘于52.10元，总市值1505亿元。 针对投资者关心的药明康德在美国、欧洲、新加坡的产能情况，陈民章称，公司加速推进全球多地产能 建设。公司持续投入瑞士库威基地，2024年口服制剂产能翻倍；持续推进美国米德尔顿基地建设，计划 于2026年底投入运营；2024年5月 ...

Group 1 - The core point of the news is that WuXi AppTec has announced a second share repurchase plan for 2025, intending to buy back A-shares worth a total of 1 billion yuan, which will be fully canceled after repurchase [1] - The repurchase will be conducted through centralized bidding on the Shanghai Stock Exchange, with a maximum price of 97.24 yuan per share, and the implementation period is from April 9, 2025, to July 8, 2025 [1] - This repurchase plan does not affect the first repurchase plan for 2025, which is still pending approval from the shareholders' meeting [1] Group 2 - WuXi AppTec's management recognizes the company's value and actively protects shareholder interests through share repurchase and cancellation, which reduces the number of circulating shares and potentially increases earnings per share and stock price [2] - In 2024, WuXi AppTec achieved operating revenue of 39.241 billion yuan, with a net profit attributable to shareholders of 9.450 billion yuan, successfully meeting its operational goals for the year [2] - The company plans to distribute a cash dividend of 10.03 yuan per 10 shares, amounting to a total of 2.835 billion yuan [2] Group 3 - Over the past three years, WuXi AppTec has returned more than 11.3 billion yuan to shareholders through cash dividends and share repurchases, with free cash flow during the same period amounting to approximately 15.3 billion yuan [2] - The stable cash dividend policy and share repurchase signal the company's profitability and ample cash flow, attracting long-term investors who prefer stable returns [3]

Core Viewpoint - WuXi AppTec has sold 50.8 million shares of its associate WuXi Biologics through block trading, raising approximately HKD 21.78 billion, which is expected to significantly enhance its financial performance in 2025 [1][2]. Group 1: Share Sale Details - The share sale represents 4.23% of WuXi Biologics' total share capital and is part of a series of three sales within six months, totaling a 11.4% reduction in holdings and over HKD 46 billion raised [1]. - WuXi AppTec's subsidiary, WuXi Biologics, remains the second-largest shareholder with a 33.94% stake after the sale [1]. Group 2: Financial Performance - WuXi Biologics reported a revenue of RMB 4.052 billion for 2024, a year-on-year increase of 90.77%, and a net profit of RMB 1.07 billion, up 276.76% [2]. - In contrast, WuXi AppTec's revenue for 2024 was RMB 39.241 billion, a decline of 2.73%, with a net profit of RMB 9.450 billion, down 1.63%, marking the first decline in recent years [2]. Group 3: Strategic Initiatives - The funds from the share sale will be used to accelerate global capacity and capability building, as well as to attract and retain key talent [2]. - WuXi AppTec is expanding its global production capacity, with new facilities in Taixing and Switzerland, and plans for a Singapore R&D and production base to be operational by 2027 [2]. Group 4: Geopolitical Risks - WuXi AppTec faces geopolitical risks, particularly from uncertainties in the U.S. market, where 64% of its revenue (approximately RMB 25.02 billion) is derived [3]. - To mitigate potential risks from U.S. tariffs, the company is accelerating the construction of its Middleton facility, expected to be operational by the end of 2026 [3].

核心观点 2024 年全年剔除新冠商业化项目后收入增长5.2%，经调整Non-IFRS净利率达27.0%创历史新高分板块 拆分来看，2024 年WuXi Chemistry 业务实现收入290.5 亿元、剔除新冠商业化项目后同比增长11.2%， 全年经调整Non-IFRS 毛利率提升至46.4%（+1.2pts）。进一步拆分2024 年小分子D&M 业务收入178.7 亿元（剔除新冠商业化项目同比增长6.4%）；TIDES 业务收入58.0 亿元（+70.1%），2024 年底多肽固 相合成反应釜总体积增加至41,000L，预计2025 年底将进一步提升至>100,000L。 2024 年WuXi Testing 业务实现收入56.7 亿元（-4.8%）、经调整Non-IFRS 毛利率为33.3%（-5.9pts）。 其中2024 年实验室分析与测试业务收入38.6 亿元（-8.0%），主要是受市场影响价格因素随着订单转化 逐渐反映到收入上；2024 年临床CRO&SMO 业务收入18.1亿元（+2.8%），其中SMO 收入同比增长 15.4%，保持中国行业领先地位。 2024 年WuXi Biology 业 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：603259 证券简称：药明康德 公告编号：临2025-022 无锡药明康德新药开发股份有限公司 （一）投资者可于2025年4月10日（星期四）上午10:00-11:00，通过互联网登陆上证路演中心 （http://roadshow.sseinfo.com/），在线参与本次业绩说明会，公司将及时回答投资者的提问。 （二）投资者可于2025年4月2日（星期三）至2025年4月9日（星期三）16:00前登录上证路演中心网站 首页，点击"提问预征集"栏目（https://roadshow.sseinfo.com/preCallQa），根据活动时间，选中本次活动 ● 会议召开时间：2025年4月10日（星期四）上午10:00-11:00 ● 会议召开地点：上海证券交易所上证路演中心（http://roadshow.sseinfo.com/） ● 会议召开方式：上证路演中心视频直播和网络互动 关于召开2024年度业绩说明会的公告 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。 ...

Core Insights - The company reported a total revenue of 12.28 billion yuan for 2024, representing a year-on-year growth of 6.4% [1] - The net profit attributable to shareholders reached 1.79 billion yuan, up 12.0% year-on-year, while the adjusted Non-IFRS net profit was 1.61 billion yuan, down 15.6% year-on-year [1] Revenue and Profit Trends - Quarterly revenue showed a recovery trend, with Q1 to Q4 revenues of 2.67 billion, 2.93 billion, 3.21 billion, and 3.46 billion yuan respectively, indicating a year-on-year change of -2.0%, +0.6%, +10.0%, and +16.1% [1] - The adjusted Non-IFRS net profit for Q1 to Q4 was 340 million, 350 million, 420 million, and 500 million yuan respectively, with year-on-year changes of -22.7%, -28.8%, -13.2%, and +1.7% [1] Segment Performance - Laboratory services generated 7.05 billion yuan in revenue, accounting for 57.4% of total revenue, with a gross margin of 44.9% [2] - CMC services achieved 2.99 billion yuan in revenue, representing 24.4% of total revenue, with a gross margin of 33.6% [2] - Clinical research services reported 1.83 billion yuan in revenue, making up 14.9% of total revenue, with a gross margin of 12.8% [2] Market Dynamics - The company experienced a significant increase in new CMC orders, with a year-on-year growth of over 35% [2] - The company successfully commercialized two innovative drug formulations in China and received FDA pre-approval inspection for its Ningbo API production facility [2] Future Outlook - The company is expected to achieve net profits of 1.73 billion, 2.04 billion, and 2.40 billion yuan for 2025, 2026, and 2027 respectively, with corresponding PE ratios of 28, 24, and 20 [3]