证券代码：300003 证券简称：乐普医疗 乐普（北京）医疗器械股份有限公司 投资者关系活动记录表 编号：2025-002 | | □特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访 ■业绩说明会 | | | □新闻发布会 □路演活动 | | 类别 | □现场参观 | | | □其他 | | 参与单位名称及 | | | | 家境内外机构共 名参会人员，详见附件明细 93 141 | | 人员姓名 | | | 时间 | 2025 年 8 月 23 日 | | 地点 | 电话会议 | | 上市公司接待人 | 董事长 蒲忠杰 | | | 财务总监 王泳 | | 员姓名 | 董事会秘书 江维娜 | | | 公司介绍： | | | 各位投资者上午好！感谢大家周末参加公司 2025 半年度业绩说明 | | | 会。乐普经过各种产品的集采大周期，过去数年业绩波动较大，在此 | | | 期间公司也进行了组织架构、管理方法和考核思路的调整，目前组织 | | | 再造已基本完成，业绩也逐步企稳。 | | | 公司半年报收入、利润端同比基本持平，经营性净现金流大幅改 | | | 善，同 ...

Core Viewpoint - Lepu Medical has received approval for its clinical trial application for recombinant type A botulinum toxin, marking a significant step in its transition towards the aesthetic medicine sector, which is expected to enhance its competitive edge in the consumer healthcare market [3][4]. Group 1: Company Background and Historical Context - Lepu Medical was founded in 1999 and has a registered capital of approximately 1.881 billion yuan [7]. - The company was initially controlled by China Shipbuilding Industry Corporation, with significant early investments from WP Medical Technologies [8][9]. - Over the years, Lepu Medical has engaged in numerous acquisitions, completing 54 investments from 2008 to 2021, which diversified its business beyond stents into a comprehensive cardiovascular health platform [12][13]. Group 2: Financial Performance and Challenges - Lepu Medical's revenue has shown a downward trend, with 2023 revenue reported at 7.98 billion yuan, a decrease of 24.78% year-on-year, and a net profit of 1.258 billion yuan, down 42.91% [20][21]. - The company faced significant pricing pressures due to centralized procurement policies affecting key products, leading to drastic price reductions, such as a 92.32% drop in the price of its cobalt-based drug-eluting stent [19][20]. - In 2024, the company reported a further decline in revenue to 6.103 billion yuan, a decrease of 23.52%, and a net profit of 247 million yuan, down 80.37% [21]. Group 3: Strategic Shift and Management Changes - Lepu Medical is increasingly focusing on the aesthetic medicine sector, with several products in the pipeline, including a facial filler and botulinum toxin, aiming to establish a comprehensive aesthetic product line [28][29]. - Recent management changes include the appointment of Pu Fei, the daughter of the chairman, as the new general manager, indicating a potential shift in leadership strategy [26][27]. - The company has faced regulatory scrutiny, receiving multiple warnings from regulatory bodies for compliance issues, which may impact its operational stability [23][24].

公告显示，重组A型肉毒毒素的适应症为暂时性改善65岁及65岁以下成年人因皱眉肌和/或降眉肌活动引 起的中度至重度皱眉纹。肉毒毒素是一种被广泛应用于面颈部除皱、轮廓塑形等领域的神经毒素，可以 引起肌肉松弛、抑制腺体分泌等化学性去神经作用。 北京商报讯（记者 王寅浩 实习记者 宋雨盈）8月1日，乐普医疗发布公告称，公司子公司乐普健糖药业 （重庆）有限公司自主研发的注射用重组A型肉毒毒素收到国家药品监督管理局核准签发的《药物临床 试验批准通知书》，同意开展临床试验。 ...

乐普医疗表示，该在研项目的顺利推进标志着公司在皮肤科领域具有优异且高效的研发实力，丰富了公 司皮肤科领域产品布局，有利于增强公司在该细分领域的核心竞争力，为公司在消费医疗市场的长期发 展提供助力。 北京商报讯(记者丁宁)8月1日晚间，乐普医疗（300003）发布公告称，公司获悉，子公司乐普健糖药业 (重庆)有限公司(以下简称"乐普健糖")自主研发的注射用重组A型肉毒毒素收到国家药品监督管理局 (NMPA)核准签发的《药物临床试验批准通知书》，由乐普健糖申报的注射用重组A型肉毒毒素(LPJT- 099/DP)临床试验申请获得批准。 ...

Core Viewpoint - Lepu Medical (300003.SZ) has received approval from the National Medical Products Administration (NMPA) for its subsidiary Lepu Jiantang Pharmaceutical (Chongqing) Co., Ltd. to conduct clinical trials for its self-developed injectable recombinant type A botulinum toxin [1] Group 1 - The clinical trial application for the injectable recombinant type A botulinum toxin (LPJT-099/DP) has been approved, indicating progress in the company's research and development efforts [1] - The amino acid sequence of the company's injectable recombinant type A botulinum toxin is identical to that of Botox® and Xeomin®, suggesting a competitive edge in the market [1] - The product is developed using recombinant protein technology, which offers advantages such as low biological risk, high purity, low immunogenic risk, high production efficiency, and controllable capacity [1] Group 2 - The advancement of this project signifies the company's strong and efficient R&D capabilities in the dermatology field, enhancing its product portfolio in this sector [1] - This development is expected to strengthen the company's core competitiveness in the dermatology niche and support its long-term growth in the consumer healthcare market [1]

每经AI快讯，8月1日，乐普医疗(300003.SZ)公告称，公司子公司乐普健糖药业（重庆）有限公司自主 研发的注射用重组A型肉毒毒素收到国家药品监督管理局核准签发的《药物临床试验批准通知书》，同 意开展临床试验。该产品具有生物风险低、高纯度等优势，标志着公司在皮肤科领域具有优异且高效的 研发实力，丰富了公司皮肤科领域产品布局，有利于增强公司在该细分领域的核心竞争力。但该在研项 目尚处于研发早期阶段，后续临床试验存在结果不确定性高、研发投入大、临床试验周期长等特点，药 品存在临床试验失败的风险。 （文章来源：每日经济新闻） ...

乐普医疗（300003）公告，子公司乐普健糖药业(重庆)有限公司自主研发的注射用重组A型肉毒毒素获 得国家药品监督管理局核准签发的《药物临床试验批准通知书》。该产品用于暂时性改善65岁及65岁以 下成年人因皱眉肌和/或降眉肌活动引起的中度至重度皱眉纹。乐普医疗表示，该在研项目的顺利推进 标志着公司在皮肤科领域具有优异且高效的研发实力，丰富了公司皮肤科领域产品布局，有利于增强公 司在该细分领域的核心竞争力，为公司在消费医疗市场的长期发展提供助力。 ...

Core Viewpoint - Lepu Medical's self-developed polylactic acid facial filler has received approval from the National Medical Products Administration (NMPA), marking its entry into the regenerative aesthetic market, despite ongoing performance declines [1][2][4] Product Approval and Market Position - The approved product is the seventh domestic and fifth local "youthful needle" filler, indicating a significant step into the aesthetic medicine sector [1] - The product is classified as a Class III medical device, which has a high approval threshold, positioning the company in the second tier among domestic products [2] - The regenerative aesthetic filler market in China is projected to reach 11.52 billion yuan by 2027, with a compound annual growth rate of 31.2% [2] Product Pipeline and Strategy - Lepu Medical's aesthetic pipeline includes botulinum toxin type A and various hyaluronic acid formulations, creating a comprehensive product chain covering "regenerative filling - wrinkle repair - facial shaping" [1][2] - The company is expanding its aesthetic product line, with multiple hyaluronic acid products in the registration phase and a focus on maintaining core technology autonomy to control costs and build brand barriers [4][5] Financial Performance and Challenges - Lepu Medical's financial performance has been under pressure, with a 23.52% decline in revenue to 6.103 billion yuan in 2024 and an 80.37% drop in net profit to 247 million yuan, marking the worst performance since its listing in 2009 [6] - The core business segments, including medical devices and pharmaceuticals, have faced significant revenue declines, with the medical device segment down 9.47% and pharmaceuticals down 42.25% [6] Management Changes and Strategic Shift - The company has undergone management changes, with a new general manager implementing marketing reforms and workforce reductions to enhance operational efficiency [7] - The shift towards aesthetic medicine is seen as a strategic response to pressures from traditional pharmaceutical operations, with the potential for financial recovery hinging on successful product commercialization and market adaptation [7]

Group 1 - The core viewpoint is that Lepu Medical has officially entered the aesthetic medicine market with the approval of its self-developed polylactic acid facial filler, marking a significant strategic move into consumer healthcare [1][2] - The newly approved product is expected to fill a gap in the dermatology field and is seen as a milestone for the company, with anticipated positive contributions to its performance [2][3] - The company is facing declining growth in its main business, with a reported revenue of 1.736 billion yuan in Q1 2024, down 9.67% year-on-year, and a net profit of 379 million yuan, down 21.44% year-on-year, indicating a need for new growth avenues [3] Group 2 - Lepu Medical's ambitions in the aesthetic field extend beyond the facial filler, as its subsidiary has submitted an application for a botulinum toxin product, targeting a domestic market worth over 6 billion yuan [4] - The aesthetic medicine market is becoming increasingly competitive, with several existing products already in the market, including those from competitors like Aimeike and Sihuan Pharmaceutical [2][5] - The entry of major pharmaceutical companies into the aesthetic market indicates a shift towards a more robust and competitive landscape, where Lepu Medical's experience in medical device development may provide a commercial advantage [5]