01 罗欣药业创始人之子卸任 子公司法人、总经理职务 国家企业信用信息公示系统显示，近日罗欣药业集团股份有限公司（以下简称"罗欣药业"）子公司山东罗欣药业集团股份有限公司（以下简称"山东罗 欣"）法定代表人及总经理一职，已由刘振腾变更为陈雨。 作者 | 晓琳 编辑 | 郑瑶 罗欣药业（维权）按下人事"重置键"。 刘振腾是罗欣药业创始人刘保起之子，出生于1986年。他于2013年10月加入山东罗欣，长期分管财务、人力资源及策略规划，直至此次卸任法人、总经 理，仅保留董事长一职。 接替者陈雨是罗欣药业的"技术老将"。陈雨出生于1968年，自2003年5月起便加入罗欣药业，历任董事、执行董事及生产部副总经理。2021年4月，他辞去 上述职务后，继续深耕山东罗欣等子公司。 从行业视角看，此次山东罗欣的重要人事变动，可让其内部"分工进一步明确"。 对于刘振腾而言，他目前还任罗欣药业董事长兼总经理，卸任子公司日常管理职务，或许能够更加聚焦母公司层面的战略规划与资本运作。 刘振腾本科毕业于澳洲麦格理大学会计专业，后获澳洲新南威尔士大学工商管理硕士学位。加入山东罗欣前，他曾在中国香港某证券公司担任分析师，并 在上海某私募股权 ...

公司创新药研发团队覆盖CMC、临床前开发、临床开发及药政事务全流程；仿制药团队聚焦工艺开 发、制剂研究与质量控制。持续推进人才年轻化、专业化建设。 销售费用率下降主要受益于泰欣赞销售收入规模化增长带来的规模效应。公司加强预算管控、优化人员 配置与工作流程，推动销售及管理费用率持续降低。 本周关注点 机构调研要点 公司在2025年以来战略性聚焦医药工业板块，核心创新药替戈拉生片（商品名泰欣赞）销售量同比增长 近140%，进院数量接近2500家。三大适应症"反流性食管炎""十二指肠溃疡""根除幽门螺杆菌"已全面纳 入医保目录，实现医保全覆盖。 P-CAB类药物相较PPI具有起效快、抑酸持久、不受进食和基因型影响、可有效控制夜间酸突破等优 势。泰欣赞30分钟达峰，首剂全效，主要经CYP3A4代谢，药物相互作用少，与阿托伐他汀可安全联 用。含替戈拉生的四联疗法Hp根除率为93.5%，优于艾司奥美拉唑组的86.4%。 公司研发管线中，注射用LX22001已进入Ⅱ期临床试验阶段，普卡那肽片Ⅲ期临床研究报告已完成定 稿，正推进地产化落地。未来将持续深耕消化系统等领域，关注未满足临床需求。 截至2025年12月31日收盘，罗 ...

Core Viewpoint - 罗欣药业 plans to raise up to 842 million yuan through a private placement of shares to fund innovative drug research, raw material drug expansion, and working capital supplementation, without changing its control [1] Fundraising and Project Allocation - The company intends to issue no more than 326,276,545 A-shares, raising a total of up to 842 million yuan for various projects [1] - Among the fundraising projects, 226 million yuan is allocated for innovative drug research, with 207 million yuan sourced from the raised funds [2] - The innovative drug research includes clinical studies for LX22001 and Tegoprazan, aimed at expanding treatment indications and enhancing market competitiveness [2] Raw Material Drug Expansion and Technological Upgrades - The raw material drug expansion and freeze-drying workshop technological upgrade project has a total investment of 476 million yuan, with 383 million yuan planned to be funded from the raised capital [3] - This project aims to upgrade production standards and respond to regulatory trends, while also supporting the company's international development strategy [3] Financial Performance and Historical Context - Since its A-share listing in 2020, the company has faced significant financial instability, with cumulative losses exceeding 2.8 billion yuan over the past three years [4] - Revenue figures from 2020 to 2024 show a decline from 60.96 billion yuan to 26.47 billion yuan, with a notable drop of 44.62% in 2022 [5] - The company reported a net profit of 3.21 billion yuan in 2020, which fell to a loss of 12.25 billion yuan in 2022, reflecting a 401.63% decline [5] Market Position and Product Development - The company has been actively developing innovative drugs, with Tegoprazan being a significant contributor to revenue growth, particularly in the digestive system category [6] - Sales of Tegoprazan increased by 163.63% and 43.11% in 2023 and 2024, respectively, with a nearly 140% increase in the first half of 2025 compared to the previous year [6] Research and Development Expenditure - R&D expenses have been declining from 361 million yuan in 2020 to 87 million yuan in 2024, while sales expenses have remained significantly higher [7] - The company reported a revenue of 1.077 billion yuan in the first half of 2025, a 14.45% decrease year-on-year, but a net profit of 17.69 million yuan, marking a 119.95% increase [7] Management Changes - The company has experienced frequent changes in its management team, with several key resignations occurring in 2024 and 2025 [7]

Group 1: Financial Performance - The company experienced a significant revenue decline in Q1 2025 due to reduced demand for respiratory and antibiotic products caused by a warm winter [2][3] - In Q4 2024, the company reported substantial losses primarily due to asset impairment provisions and fair value changes of financial instruments, which are non-operational impacts [3][5] - The company achieved profitability in Q1 2025, driven by increased sales of the innovative drug, Tegoprazan, and effective collection of receivables, improving cash flow and reducing bad debt losses [3][4] Group 2: Product Development and Pipeline - The innovative drug LX22001 is currently in Phase II clinical trials, while the clinical research report for Pucanatide tablets has been finalized and is moving towards commercialization [2][3] - The company has over 10 generic drugs in development or submitted for approval, which are expected to contribute to future revenue growth [3][4] Group 3: Market Strategy and Growth Plans - The company plans to significantly increase hospital access for its innovative drugs, with a target of a 130% increase in hospital entries by the end of 2024 [3][4] - The company is focusing on optimizing its supply chain and reducing fixed costs through various measures, including organizational restructuring and talent assessment [4][5] Group 4: Shareholder Information - As of May 9, 2025, the total number of shareholders is 31,442 [5]