证券代码：301257 证券简称：普蕊斯 普蕊斯（上海）医药科技开发股份有限公司 投资者关系活动记录表 编号：2025-013 投资者关系 活动类别 特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 券商策略会 □其他 参与单位 名称及人员 姓名 诺安基金 工银瑞信基金 汇添富基金 嘉实基金 招商基金 摩根基金 建信基金 红土创新基金 长城基金 华商基金 景顺长城基金 前海开源基金 华安基金 川江投资 华泰证券 红杉资本 华创证券 中金证券 兴业证券 华福证券 浙商证券 国泰海通证券 山西证券 华安证券 东北证券 长江证券 西部证券 东方证券 平安证券 国海证券 中泰证券 等共 45 家机构 63 人 时间 2025 年 11 月 25 日、2025 年 12 月 2 日、2025 年 12 月 5 日 2025 年 12 月 9 日、2025 年 12 月 11 日—2025 年 12 月 12 日 2025 年 12 月 17 日、2025 年 12 月 19 日、2025 年 12 月 23 日— 2025 年 12 月 24 日、2025 年 12 月 26 ...

Company Overview - Prasis is a data-driven clinical research service provider focused on patient-centered approaches, creating a comprehensive project management system for clinical trials [2] - As of Q3 2025, the company achieved revenue of CNY 219 million, a year-on-year increase of 9.84% [2] - The net profit for Q3 2025 was CNY 33.22 million, a significant increase of 3,322.54% year-on-year, with a non-GAAP net profit of CNY 31.13 million, up 120.72% [2] Operational Highlights - The company has undertaken over 4,200 SMO projects, with 2,538 currently in execution, and employs 4,271 staff [2] - The service network covers over 1,300 clinical trial institutions across multiple cities in China [2] - For the first three quarters of 2025, the profit distribution plan included cash dividends totaling CNY 5.37 million [2] Quality Management - The company has established over 280 standard operating procedures (SOPs) and 40 negative lists to ensure quality control [3] - Continuous training and assessment of employees, along with an internal quality control team, enhance project oversight [3] - No major findings were reported during inspections by national and international regulatory bodies [3] Digital Transformation - The company prioritizes the development and application of digital and intelligent technologies as a key growth strategy [3] - A collaborative clinical trial management platform is being developed, integrating AI and advanced quality management systems for improved efficiency [3] Client Structure and Revenue Recognition - The client base primarily consists of multinational pharmaceutical companies, domestic innovative drug companies, and CROs, with significant collaborations with the top 10 global pharmaceutical companies [3] - Clinical trial project cycles typically last 2-3 years, with revenue recognition influenced by various factors, leading to non-linear income distribution [3] Recruitment and Talent Development - As of September 2025, the company has a workforce of 4,271, with over 4,000 specialized personnel [3] - Recruitment plans are aligned with project needs and are supported by a robust training system to ensure quality [4]

Group 1: Company Overview and Financial Performance - Prasis is a data-driven clinical research service provider focused on enhancing clinical trial execution in China, achieving a revenue of CNY 219 million in Q3 2025, a year-on-year increase of 9.84% [2] - For the first three quarters of 2025, the company reported a total revenue of CNY 1.1 billion, reflecting a growth of 6.09%, with a net profit of CNY 87.38 million, up 20.92% [2] - The company distributed cash dividends totaling CNY 5.37 million to shareholders, sharing the development results [2] Group 2: Market Trends and Order Growth - The Chinese innovative drug industry is entering a new phase of high-quality development, driven by policy support and active overseas licensing transactions, leading to a 2.59% increase in new orders [3] - The company has seen a significant increase in new orders from domestic pharmaceutical companies, particularly in oncology projects, which accounted for 39% of global oncology trials in 2024 [3][4] - The number of new projects and contract amounts is expected to grow due to the active overseas licensing collaborations, with over 100 license-out transactions and a total transaction amount exceeding USD 100 billion from January to October 2025 [5] Group 3: Operational Efficiency and Quality Management - The company has implemented a systematic quality management system, including over 280 standard operating procedures (SOPs) and 40 negative lists, ensuring no major findings during inspections by regulatory bodies [7] - Digital transformation initiatives are underway to enhance service efficiency and human resource effectiveness, integrating artificial intelligence and other new technologies [8] - Cost control measures include optimizing organizational structure and enhancing internal performance assessments to improve employee productivity [8] Group 4: Competitive Landscape and Industry Dynamics - The SMO industry is experiencing a concentration of resources towards leading firms, with smaller companies gradually exiting the market due to increased competition and regulatory demands [6] - Large pharmaceutical companies prefer stable, well-networked suppliers capable of managing complex clinical trial projects, which emphasizes the importance of quality and operational capability [6] - The regulatory environment is evolving, with stricter oversight and alignment with international standards, further highlighting the advantages of systematic and standardized operations [6]

Group 1: Company Overview - Proris is a data-driven clinical research service provider focused on patient-centered approaches, creating a comprehensive project management system for clinical trials [1] - The company specializes in Site Management Organization (SMO) services to enhance the quality and efficiency of clinical trials in China [2] Group 2: Financial Performance - In the first half of 2025, the company achieved a revenue of CNY 390.10 million and a net profit of CNY 54.16 million, with a net profit excluding non-recurring items of CNY 38.54 million [2] - The second quarter of 2025 saw a year-on-year revenue growth of 1.82% and a quarter-on-quarter growth of 21.06% [2] - The net profit for the second quarter increased by 45.17% year-on-year and 528.73% quarter-on-quarter [2] Group 3: Market Demand and Contracts - The company signed new contracts worth CNY 600 million in the first half of 2025, representing a year-on-year growth of 40.12% [2] - By the end of June 2025, the company had a backlog of contracts amounting to CNY 1.99 billion, a year-on-year increase of 9.45% [2] Group 4: Project Execution and Quality Control - The company has managed over 4,000 SMO projects, with 2,428 currently active [2] - Quality control is emphasized through the establishment of over 280 standard operating procedures and continuous training for employees [5] Group 5: Industry Trends and Opportunities - The Chinese innovative drug industry is entering a new phase of high-quality development, driven by policy support and active overseas business development (BD) transactions [2] - In the first half of 2025, the number of BD transactions in China's innovative drug sector reached 72, with a total transaction value of USD 60 billion [3]

Group 1: Company Overview and Financial Performance - Proprius achieved a revenue of CNY 390.10 million in the first half of 2025, with a net profit attributable to shareholders of CNY 54.16 million and a net profit of CNY 38.54 million after deducting non-recurring gains and losses [2] - In Q2 2025, the company experienced a year-on-year revenue growth of 1.82% and a quarter-on-quarter growth of 21.06% [2] - The net profit attributable to shareholders in Q2 2025 increased by 45.17% year-on-year and 528.73% quarter-on-quarter [2] Group 2: Market Demand and Order Growth - In the first half of 2025, the Chinese innovative drug industry entered a new stage of high-quality development, with a 40.12% year-on-year increase in new contracts signed [3] - The total amount of existing contracts as of June 2025 reached CNY 1.998 billion, reflecting a year-on-year growth of 9.45% [3] - The number of drug clinical trials registered in China reached 4,900 in 2024, a 13.9% increase year-on-year, with 2,539 new drug clinical trials, up 9.3% [7] Group 3: Strategic Initiatives and Industry Trends - The company focuses on maintaining stability with core clients while enhancing the engagement of small and medium-sized clients to ensure sustainable business growth [3] - The Chinese innovative drug industry is becoming the second-largest market globally, with 72 overseas transactions in the first half of 2025, totaling USD 60 billion [4] - The company is actively integrating AI and digital technologies to enhance service efficiency and quality in clinical trials [6] Group 4: Quality Control and Regulatory Compliance - As of June 2025, the company has undergone 281 inspections by the National Medical Products Administration, 14 by the FDA, and 5 by the EMA, with no major findings [2] - The company emphasizes high-quality service delivery and has established a robust quality management system to ensure compliance and efficiency [6] Group 5: Financial Health and Cash Flow - The net cash flow from operating activities increased by 29.88% year-on-year in the first half of 2025, indicating an improving cash flow situation [8] - The company has a low proportion of bad debts due to high credit quality among clients, which supports better cash collection [8]

Financial Performance - In 2024, the company achieved operating revenue of 803.73 million yuan, a year-on-year increase of 5.75% [1] - The net profit attributable to shareholders was 106.43 million yuan, a decrease of 21.01% year-on-year [1] - The net profit after deducting non-recurring gains and losses was 83.47 million yuan, down 26.88% year-on-year, primarily due to increased personnel costs [1] - In Q1 2025, the company reported operating revenue of 176.47 million yuan, a decline of 4.37% year-on-year [2] - The net profit attributable to shareholders in Q1 2025 was 7.43 million yuan, a significant drop of 67.32% year-on-year [2] - The net profit after deducting non-recurring gains and losses in Q1 2025 was 4.83 million yuan, down 75.34% year-on-year [2] Contractual and Operational Metrics - As of the end of 2024, the company had a total non-tax contract amount of 1.889 billion yuan, a year-on-year increase of 0.38% [2] - The company signed new contracts worth 1 billion yuan in 2024 [2] - By March 31, 2025, the company had undertaken over 3,800 clinical trial projects, serving 1,300 clients across more than 200 cities [2] Industry Trends and Developments - From 2015 to 2024, the number of innovative drugs approved for the first time in China increased from 3 to 39, a growth of 12 times, positioning China as the second globally [3] - The number of innovative drugs that initiated clinical trials in China rose from 124 in 2015 to 704 in 2024, making China the leader globally [4] - In 2024, Chinese pharmaceutical companies achieved a historic breakthrough in licensing out, with total transaction amounts reaching 51.9 billion USD, including upfront payments of 4.1 billion USD [4] - In Q1 2025, there were 33 licensing out transactions, a year-on-year increase of 32%, with total transaction amounts reaching 36.6 billion USD, an increase of over 250% [4] Clinical Trial Registration - In 2024, the total number of registered clinical trials in China reached 4,900, a year-on-year increase of 13.9% [5] - Among these, 2,539 new drug clinical trials were registered, reflecting a 9.3% increase year-on-year [5] - Class 1 drugs accounted for 68.3% of the new drug clinical trials, with anti-tumor drugs making up 39% of the total [5]

Group 1: Company Overview and Financial Performance - Prasis is a data-driven clinical research service provider focused on patient-centered approaches, enhancing the quality and efficiency of clinical trials in China [2] - In 2024, the company achieved operating revenue of CNY 803.73 million, a year-on-year increase of 5.75%, while net profit attributable to shareholders decreased by 21.01% to CNY 106.43 million [2] - For Q1 2025, operating revenue was CNY 176.47 million, down 4.37%, with net profit of CNY 7.43 million, a significant decline of 67.32% [2] - The company’s non-taxable contract amount at the end of 2024 was CNY 1.88 billion, reflecting a year-on-year increase [2] Group 2: Business Operations and Market Position - As of March 31, 2025, Prasis has undertaken over 3,800 SMO projects, serving more than 960 clinical trial institutions across over 200 cities in China [2] - The company has a strong focus on innovative and high-clinical-value new drug projects, collaborating with major global pharmaceutical companies [3] - The company’s client base primarily consists of multinational pharmaceutical companies, domestic innovative drug companies, and CROs, with a significant emphasis on high-quality service delivery [3] Group 3: Industry Trends and Competitive Landscape - The SMO industry in China is entering a new development phase, with increasing concentration among leading firms due to enhanced client resources and regulatory support [3] - Smaller SMO companies are gradually exiting the market, leading to a higher industry concentration [3] - The company has competitive advantages in various disease areas, including oncology and cardiovascular diseases, with a strong track record in launching innovative drugs [4] Group 4: Future Outlook and Strategic Initiatives - Prasis plans to continue organizational management innovation and explore the application of AI and new technologies in clinical trial execution [3] - The company aims to optimize its recruitment structure and enhance training programs to build a robust talent pipeline for long-term development [4] - In 2024, the company signed new contracts worth CNY 1 billion, with a 33% increase in new orders in the second half of the year compared to the first half [3]

Group 1: Company Overview and Financial Performance - Proris is a data-driven clinical research service provider focused on patient-centered approaches, enhancing the quality and efficiency of clinical trials in China [2] - In 2024, the company achieved operating revenue of CNY 803.73 million, a year-on-year increase of 5.75%, while net profit attributable to shareholders decreased by 21.01% to CNY 106.43 million [2] - For Q1 2025, operating revenue was CNY 176.47 million, a decline of 4.37%, with net profit dropping 67.32% to CNY 7.43 million [2] Group 2: Contract and Project Management - The company signed new contracts worth CNY 1 billion in 2024, with a total contract amount of CNY 1.889 billion by the end of the year, reflecting a 0.38% increase year-on-year [2] - As of March 31, 2025, Proris has undertaken over 3,800 SMO projects, with 2,250 currently in execution, and a total workforce of 4,277 employees [2] Group 3: Shareholder Value and Dividends - In 2024, the total cash dividend amounted to CNY 19.88 million, accounting for 18.68% of the annual net profit [3] - Cumulative cash dividends from 2022 to 2024 reached CNY 40.77 million [3] Group 4: Industry Trends and Challenges - The SMO industry is entering a new development phase, with increasing concentration among leading firms due to enhanced client resources and regulatory support [3] - In 2024, the number of drug clinical trials registered in China reached 4,861, a 15.60% increase from 4,205 in 2023, indicating a robust growth trend in biopharmaceutical R&D [3] Group 5: Cost Management and Operational Efficiency - The decline in Q1 2025 gross margin was attributed to seasonal impacts, increased operational costs from hiring, and regulatory changes [4] - The company is implementing measures to stabilize gross margins, including enhancing internal controls, optimizing organizational structure, and investing in technological innovations [4][5] Group 6: Future Outlook and Strategic Initiatives - The company plans to continue exploring AI and new technologies in clinical trial execution to improve service quality and efficiency [3][4] - Proris is actively engaging in mergers and acquisitions, considering strategic alignment and valuation in its decision-making process [6][7]