证券日报网讯1月5日，药石科技（300725）在互动平台回答投资者提问时表示，公司是全球医药研发和 制造领域创新化学产品和服务的专业供应商，核心业务聚焦于为医药企业提供涵盖药物发现至商业化生 产阶段的化学产品及技术服务。公司所提供的分子砌块具备结构多样性与功能可设计性的特点，产品的 具体应用场景由客户基于自身业务需求自主选择和确定。现阶段，公司的研发资源、业务发展规划高度 聚焦于医药行业客户的需求。 ...

证券日报网讯 12月29日，皓元医药在互动平台回答投资者提问时表示，公司始终坚持产业化、全球化 发展战略，已在国内外建设多个仓储中心，在美国设立仓储和商务团队，运用国际化运营及管理方式有 效整合公司资源，建立覆盖全球的网络销售平台，提供直观便捷的购买渠道，快速响应和满足客户需 求。公司前端业务包含分子砌块、工具化合物等生命科学试剂产品，该类产品具有标准化、小批量、高 频次的交付特点，适配快速配送需求。同时通过数字化管理系统建立智能备货机制，优化订单处理流 程，实现工作日下单快速响应，为次日送达提供技术保障。 ...

Core Viewpoint - The stock of Haoyuan Pharmaceutical has experienced a decline of 2.05% on December 18, 2023, despite a year-to-date increase of 100.54% [1] Group 1: Company Overview - Haoyuan Pharmaceutical, established on September 30, 2006, and listed on June 8, 2021, is located in Shanghai and specializes in the research and development of small molecule drug discovery, including molecular building blocks and tool compounds [2] - The company's main business revenue composition includes molecular building blocks and tool compounds (68.97%), with product sales contributing 63.42%, raw materials and intermediates 30.46%, and technical services 5.55% [2] - As of September 30, 2023, the number of shareholders is 12,000, a decrease of 6.34% from the previous period, with an average of 17,647 circulating shares per person, an increase of 6.77% [2] Group 2: Financial Performance - For the period from January to September 2023, Haoyuan Pharmaceutical achieved a revenue of 2.059 billion yuan, representing a year-on-year growth of 27.18%, and a net profit attributable to shareholders of 237 million yuan, up 65.09% year-on-year [2] - The company has distributed a total of 160 million yuan in dividends since its A-share listing, with 120 million yuan distributed over the past three years [3] Group 3: Stock Market Activity - On December 18, 2023, Haoyuan Pharmaceutical's stock price was reported at 71.13 yuan per share, with a trading volume of 111 million yuan and a turnover rate of 0.73%, resulting in a total market capitalization of 15.087 billion yuan [1] - The stock has seen a net outflow of 2.4429 million yuan from major funds, with significant buying and selling activities recorded [1] - The stock has appeared on the "Dragon and Tiger List" once this year, with the last occurrence on May 30, 2023, where it recorded a net purchase of 10.336 million yuan [1]

Core Viewpoint - Haoyuan Pharmaceutical's stock has shown significant growth this year, with a year-to-date increase of 116.75%, indicating strong market performance and investor interest [1][2]. Company Overview - Haoyuan Pharmaceutical, established on September 30, 2006, and listed on June 8, 2021, is located in Shanghai and specializes in the discovery of small molecule drugs, including the development of molecular building blocks and tool compounds [2]. - The company's main business revenue composition includes molecular building blocks and tool compounds (68.97%), with product sales contributing 63.42%, raw materials and intermediates at 30.46%, and technical services at 5.55% [2]. Financial Performance - For the period from January to September 2025, Haoyuan Pharmaceutical achieved a revenue of 2.059 billion yuan, representing a year-on-year growth of 27.18%, while the net profit attributable to shareholders was 237 million yuan, up 65.09% year-on-year [2]. - The company has distributed a total of 160 million yuan in dividends since its A-share listing, with 120 million yuan distributed over the past three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders for Haoyuan Pharmaceutical was 12,000, a decrease of 6.34% from the previous period, with an average of 17,647 circulating shares per shareholder, an increase of 6.77% [2]. - Notable institutional shareholders include Hong Kong Central Clearing Limited, which holds 8.6068 million shares, and several funds that have increased their holdings [3].

（文章来源：证券日报） 证券日报网讯昊帆生物11月18日在互动平台回答投资者提问时表示，公司服务众多医药研发与生产企 业，为下游客户提供以多肽合成试剂和分子砌块为主的各类特色化学试剂。 ...

Core Insights - On November 14, Haoyuan Pharmaceutical experienced a decline of 3.54% with a trading volume of 242 million yuan [1] - The company reported a financing buy-in of 32.97 million yuan and a net financing buy of 6.87 million yuan on the same day [1] Financing Overview - As of November 14, the total financing and securities balance for Haoyuan Pharmaceutical was 592 million yuan [1] - The financing balance of 591 million yuan accounts for 3.61% of the circulating market value, indicating a high level compared to the past year [1] - The company had a low securities lending balance of 96.21 million yuan, below the 50th percentile of the past year [1] Company Profile - Haoyuan Pharmaceutical, established on September 30, 2006, is located in Shanghai and specializes in the discovery of small molecule drugs, including the development of molecular building blocks and tool compounds [2] - The company's main revenue sources include molecular building blocks and tool compounds (68.97%), with product sales contributing 63.42% and raw materials and intermediates accounting for 30.46% [2] - For the period from January to September 2025, Haoyuan Pharmaceutical achieved a revenue of 2.059 billion yuan, representing a year-on-year growth of 27.18%, and a net profit of 237 million yuan, up 65.09% year-on-year [2] Shareholder Information - As of September 30, 2025, the number of shareholders for Haoyuan Pharmaceutical was 12,000, a decrease of 6.34% from the previous period [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited and several mutual funds, with notable increases in holdings [3]

Core Viewpoint - Haoyuan Pharmaceutical's stock rose by 5.01% to 80.35 CNY per share, with a trading volume of 259 million CNY and a market capitalization of 17.042 billion CNY as of November 13 [1] Company Overview - Shanghai Haoyuan Pharmaceutical Co., Ltd. was established on September 30, 2006, and went public on June 8, 2021 [1] - The company specializes in the discovery of small molecule drugs, focusing on molecular building blocks and tool compounds, as well as the development and production of active pharmaceutical ingredients (APIs) and intermediates [1] - The main revenue composition includes: molecular building blocks, tool compounds, and biochemical reagents (68.97%); product sales (63.42%); APIs and intermediates, formulations (30.46%); technical services (5.55%); and other (0.57%) [1] Fund Holdings - Hongta Hongtu Fund has a significant holding in Haoyuan Pharmaceutical, with its Hongta Hongtu Medical Selected Stock Fund A (020331) reducing its stake by 4,000 shares to hold 9,000 shares, representing 5.58% of the fund's net value [2] - The fund has achieved a year-to-date return of 33.15%, ranking 1506 out of 4216 in its category, and a one-year return of 18.94%, ranking 2064 out of 3951 [2] Fund Manager Information - The fund manager of Hongta Hongtu Medical Selected Stock Fund A is Cao Yang, who has been in the position for 2 years and 63 days [3] - The total asset size of the fund is 13.3331 million CNY, with the best return during his tenure being 30.03% and the worst being -33.52% [3]

Summary of the Earnings Call for Yaoshi Technology Q3 2022 Company Overview - **Company**: Yaoshi Technology - **Industry**: Pharmaceutical and Biotechnology - **Earnings Report**: Q3 2022 Key Financial Highlights - **Total Revenue**: 419 million, a year-on-year increase of 25.81% [2] - **Revenue from Drug Development and Commercialization**: 1.179 billion, a year-on-year increase of 34.9% [2] - **Net Cash Flow from Operating Activities**: 543 million, a year-on-year increase of 187.74% [3] - **Total Expenses**: 283 million, a year-on-year decrease of 9.88% [20] - **Gross Margin**: Stable around 30% [43] Strategic Focus and Growth Drivers - **Customer Base**: Revenue from large multinational pharmaceutical companies (MNCs) increased by 68.1%, now accounting for 36% of total revenue [8] - **New Orders**: CDMO new orders increased by over 15%, with orders for new businesses like peptides and ADCs growing over 100% [3] - **Investment in Technology**: The company is focusing on enhancing its technical services and CMC (Chemistry, Manufacturing, and Controls) capabilities to deepen ties with core customers [3][45] - **Production Capacity**: The new 503 workshop started in February 2025, with a current capacity utilization rate of 60%-70% expected to reach 70% by 2026 [12][13] Market Trends and Future Outlook - **Demand Improvement**: Domestic and international demand is improving, driven by policy changes and increased investment in innovative drugs [18] - **Project Pipeline**: Over 1,100 early clinical projects completed, with 53 projects in Phase III and commercialization, showing significant growth compared to the previous year [16] - **New Molecule Business**: Focus on XDC, TBD, peptides, and oligonucleotides, with a projected increase in orders exceeding 100% [50] - **Long-term Strategy**: The company has a three-year strategic plan aimed at consistent annual growth, with confidence in achieving industry-standard performance [59] Risks and Challenges - **Short-term Margin Pressure**: The company is currently in a strategic investment phase, which may pressure short-term margins but is expected to stabilize and improve in the long run [3][45] - **Capacity and Order Matching**: While current capacity is adequate for existing orders, the company is actively working to expand capacity to meet future demand [12][13] Additional Insights - **Brand Promotion**: The company is enhancing its brand presence through participation in industry forums and direct engagement with clients [11] - **Collaboration with MNCs**: The company is expanding its collaboration with MNCs, moving from early-stage projects to more comprehensive partnerships [10][39] - **Focus on Green Chemistry**: The company is committed to green chemistry initiatives, which are becoming increasingly important for collaboration with MNCs [41] This summary encapsulates the key points from the earnings call, highlighting the financial performance, strategic initiatives, market trends, and future outlook for Yaoshi Technology in the pharmaceutical industry.

Core Viewpoint - Haofan Bio, a leading company in the peptide synthesis reagent sector, was established in December 2003 and went public on July 12, 2023, in Shenzhen, with its headquarters in Suzhou, Jiangsu Province [1] Group 1: Business Overview - Haofan Bio specializes in the research and sales of peptide synthesis reagents, protein crosslinkers, and molecular building blocks, with a focus on peptide drugs, innovative drugs, and biopharmaceuticals [1] - The company has a differentiated advantage in technology and customer resources [1] Group 2: Financial Performance - In Q3 2025, Haofan Bio reported revenue of 435 million yuan, ranking 24th among 34 companies in the industry, while the industry leader, Changchun High-tech, had revenue of 9.807 billion yuan [2] - The net profit for the same period was approximately 99.24 million yuan, placing the company 16th in the industry, with the top performer, Tonghua Dongbao, reporting a net profit of 1.188 billion yuan [2] Group 3: Financial Ratios - As of Q3 2025, Haofan Bio's debt-to-asset ratio was 7.86%, significantly lower than the industry average of 26.88%, indicating strong solvency [3] - The company's gross profit margin was 38.75%, which is below the industry average of 70.17%, suggesting room for improvement in profitability [3] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 12.14% to 10,000, while the average number of circulating A-shares held per shareholder increased by 19.09% to 4,200.4 [5] - The fifth largest circulating shareholder, Huatai-PB Health Mixed Fund, increased its holdings by 26,430 shares [5] Group 5: Future Outlook - The company is expected to maintain steady growth, with projected net profits of 166 million, 208 million, and 268 million yuan for 2025 to 2027, respectively, and corresponding EPS of 1.54, 1.93, and 2.48 yuan [5] - Haofan Bio has established a presence in over 1,900 pharmaceutical-related enterprises globally and is actively expanding into the European market [5] - The company is enhancing its production capacity through self-built facilities and acquisitions, with ongoing projects in Anhui and Huai'an expected to resolve capacity issues by mid-2026 [5]

Core Insights - The company plans to enhance its core competitiveness in molecular building blocks and support the collaborative development of its CDMO business by investing in a new R&D facility set to be operational by 2026 [1] - The new facility is expected to accommodate over 100 R&D personnel, focusing on two main areas: establishing a rapid supply capability for high-demand building blocks and developing new chemical entity building blocks [1] - The molecular building block business serves as an entry point, providing novel and functionally unique building block products to early-stage client R&D pipelines, thereby driving demand for the CDMO business [1] Summary by Categories R&D Facility - The company will invest in a new R&D facility scheduled for use in 2026, which will house more than 100 R&D personnel [1] Focus Areas - The new R&D personnel will concentrate on two key directions: 1. Creating a rapid supply capability for high-demand building blocks 2. Developing new chemical entity building blocks, particularly focusing on cutting-edge structures like CRBN ligands and non-natural amino acids [1] Business Strategy - The molecular building block business acts as a front-end entry point, providing innovative and unique building block products that facilitate early engagement with clients' R&D pipelines, thus generating leads for the CDMO business [1]