Core Viewpoint - Huahai Pharmaceutical (600521) expects a significant decline in net profit for 2025, projecting a range of 224 million to 335 million yuan, representing a year-on-year decrease of 70% to 80% [1] Group 1: Domestic Formulation Business - The domestic formulation business is facing continuous price pressure due to the expansion and deepening of domestic centralized procurement policies, leading to intensified competition [1] - Sales revenue from domestic formulations is expected to decline year-on-year, impacting overall profit [1] Group 2: Raw Material Drug Industry - The raw material drug industry is experiencing fierce competition characterized by overcapacity and price pressure, contributing to a year-on-year decrease in sales revenue and profit [1] - New product development is hindered by long development cycles and significant impacts from changing internal and external business environments, resulting in unmet expectations for new project industrialization [1] Group 3: R&D Investment - The company is accelerating the progress of its biopharmaceutical innovation projects, leading to a substantial year-on-year increase in R&D investment [1]

Core Viewpoint - Huahai Pharmaceutical (600521.SH) expects a significant decrease in net profit for the fiscal year 2025, projecting a range between 224 million yuan and 335 million yuan, which represents a decline of approximately 70% to 80% compared to the previous year [1] Financial Performance - The company anticipates a reduction in net profit attributable to shareholders of approximately 78.398 million yuan to 89.498 million yuan compared to the same period last year [1]

Core Viewpoint - Huahai Pharmaceutical (600521) expects a significant decline in net profit attributable to shareholders for the fiscal year 2025, projecting a range between 224 million to 335 million yuan, representing a year-on-year decrease of 70% to 80% [1] Group 1: Financial Performance - The company anticipates a net profit decline due to intensified competition in the existing product market and the slow ramp-up of new products, leading to a decrease in domestic formulation sales revenue year-on-year [1] - The sales revenue of raw materials is also expected to decline year-on-year, impacted by the underperformance of new project industrialization [1] Group 2: R&D and Innovation - The company is accelerating the progress of its biopharmaceutical innovation projects, resulting in a significant year-on-year increase in R&D investment [1]

Core Viewpoint - Huahai Pharmaceutical (600521.SH) expects a significant decline in net profit for the fiscal year 2025, with projections indicating a decrease of approximately 70% to 80% compared to the previous year [1] Financial Performance - The estimated net profit attributable to shareholders for 2025 is projected to be between 224 million and 335 million yuan [1] - The estimated net profit excluding non-recurring gains and losses is expected to be between 113 million and 226 million yuan, reflecting a decline of about 80% to 90% year-on-year [1] Business Challenges - Domestic formulation business faces pressure from expanded domestic centralized procurement policies, leading to intensified price competition and a decline in sales revenue [1] - The raw material pharmaceutical industry is experiencing severe competition due to overcapacity and price pressures, with new product development facing delays, resulting in decreased sales revenue [1] - Increased investment in the research and development of innovative biological drugs has led to a significant rise in R&D expenses [1] Non-Operating Gains - Non-operating gains increased by approximately 100 million to 130 million yuan, primarily due to fair value changes in financial assets and gains from the sale of partial equity [1]

Group 1 - The core viewpoint of the article highlights Huahai Pharmaceutical's profit forecast for 2025, indicating a significant decline in net profit attributed to shareholders, estimated between 224 million to 335 million yuan, which represents a decrease of approximately 784 million to 895 million yuan compared to the previous year, translating to a year-on-year reduction of about 70% to 80% [1] Group 2 - Huahai Pharmaceutical's projected net profit for 2025 is significantly lower than the previous year's figures, indicating potential challenges ahead for the company [1] - The company is expected to face a substantial drop in profitability, which may impact investor sentiment and market performance [1] - The article also touches on broader market trends, such as international gold prices and their relationship with the US dollar, but this is less relevant to the specific analysis of Huahai Pharmaceutical [1]

Core Viewpoint - Huahai Pharmaceutical (600521.SH) expects a significant decline in net profit for the fiscal year 2025, projecting a range of 224 million to 335 million yuan, representing a year-on-year decrease of approximately 70% to 80% [1]. Financial Performance - The company's net profit attributable to shareholders is expected to drop sharply, with a forecasted range of 113 million to 226 million yuan for net profit excluding non-recurring gains and losses, indicating a year-on-year decline of about 80% to 90% [1]. - The report highlights a substantial decrease in both net profit and net profit excluding non-recurring gains and losses compared to the same period last year [1]. Business Challenges - Domestic formulation business is facing pressure due to the expansion and deepening of domestic centralized procurement policies, leading to continuous price pressure and intensified competition. Additionally, the sales revenue from existing products is declining, while new products are taking time to ramp up, negatively impacting profits [1]. - The raw material pharmaceutical industry is experiencing fierce competition characterized by overcapacity and price pressure. New product development is hindered by long development cycles and significant impacts from changing internal and external business environments, resulting in decreased sales revenue and profits [1]. - The company is accelerating the progress of its biopharmaceutical innovation projects, leading to a substantial year-on-year increase in R&D expenditures [1]. Non-Operating Gains - Non-operating gains have increased by approximately 100 million to 130 million yuan year-on-year, primarily due to increased fair value changes of financial assets measured at fair value and gains from the sale of certain equity interests [1].

| 股票简称：华海药业 | 股票代码：600521 | 公告编号：临 | 号 2026-007 | | --- | --- | --- | --- | | 债券简称：华海转债 | 债券代码：110076 | | | 浙江华海药业股份有限公司 关于不向下修正"华海转债"转股价格的公告 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个别及连带责任。 重要内容提示： 截至 2026 年 1 月 26 日，浙江华海药业股份有限公司（以下简称"公司"） 股价已出现任意三十个连续交易日中至少十五个交易日收盘价格低于当期转股 价格 80%的情形，触及"华海转债"转股价格向下修正条款。 经公司第九届董事会第七次临时会议审议通过，公司董事会决议本次不行使 "华海转债"转股价格向下修正的权利，且在未来 2 个月内（2026 年 1 月 27 日 至 2026 年 3 月 26 日），如再次触及可转债的转股价格向下修正条款，亦不提出 向下修正方案。从 2026 年 3 月 27 日开始重新起算，若再次触发"华海转债"转 股价格向下修正条款，届时公司董事会将再 ...

浙江华海药业股份有限公司 第九届董事会第七次临时会议决议公告 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个别及连带责任。 债券简称：华海转债 债券代码：110076 股票简称：华海药业 股票代码：600521 公告编号：临 2026-006 号 一、审议通过了《关于不向下修正"华海转债"转股价格的议案》 表决情况：同意：9 票；反对：0 票；弃权：0 票。 具体内容详见公司于 2026 年 1 月 27 日刊登在中国证券报、上海证券报、证券 时报、证券日报及上海证券交易所网站（www.sse.com.cn）上的《浙江华海药业股 份有限公司关于不向下修正"华海转债"转股价格的公告》。 特此公告。 浙江华海药业股份有限公司 董事会 二零二六年一月二十六日 1 / 1 浙江华海药业股份有限公司（以下称"公司"）第九届董事会第七次临时会议于 二零二六年一月二十六日下午十五点以通讯方式在公司四楼会议室召开。会议应到 会董事九人，实际到会董事九名，符合召开董事会会议的法定人数。会议由公司董 事长李宏先生主持。会议程序符合《公司法》及《公司章程》 ...

证券代码：600521 证券简称：华海药业 公告编号：临 2026-005 号 债券代码：110076 债券简称：华海转债 浙江华海药业股份有限公司 2025 年度业绩预减公告 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个别及连带责任。 重要内容提示： 经财务部门初步测算，浙江华海药业股份有限公司（以下简称"公司"）2025 年度实现归属于上市公司股东的净利润预计在 22,400 万元至 33,500 万元之间，与 上年同期（法定披露数据）相比，将减少约 78,398 万元到 89,498 万元，同比降低 约 70%到 80%。 一、本期业绩预告情况 （一）业绩预告期间 2025 年 1 月 1 日至 2025 年 12 月 31 日。 （二）业绩预告情况 经财务部门初步测算，公司 2025 年度实现归属于上市公司股东的净利润预计在 22,400 万元至 33,500 万元之间，与上年同期（法定披露数据）相比，将减少约 78,398 万元到 89,498 万元，同比降低约 70%到 80%。 公司 2025 年度归属于上市公司股东的 ...

南财智讯1月26日电，华海药业公告，公司2025年度预计归属于上市公司股东的净利润为22400万元— 33500万元，同比下降70.00%—80.00%；业绩预减的主要原因包括：国内制剂业务受集采政策深化影 响，价格承压、竞争加剧，销售收入同比下降；原料药行业产能过剩、价格持续承压，新产品产业化未 达预期，销售收入同比下降；生物创新药研发项目推进加快，研发投入同比大幅增加。 ...