证券代码：688166 证券简称：博瑞医药 公告编号：2025-102 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法律责任。 博瑞生物医药（苏州）股份有限公司 关于股份回购进展公告 重要内容提示： | 回购方案首次披露日 | 2025/9/27，由公司控股股东、实际控制人、董事 | | | | --- | --- | --- | --- | | | 长袁建栋先生提议 | | | | 回购方案实施期限 | 2025 年 月 26 日~2026 9 月 25 日 | 9 | 年 | | 预计回购金额 | 1,000万元~2,000万元 | | | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 | | | | | □用于转换公司可转债 | | | | | □为维护公司价值及股东权益 | | | | 累计已回购股数 | 5.588万股 | | | | 累计已回购股数占总股本比例 | 0.0132% | | | | 累计已回购金额 | 299.3933万元 | | | | 实际回购价格区间 | 52.96元/股~54.28元 ...

北京市竞天公诚律师事务所上海分所 关于 博瑞生物医药（苏州）股份有限公司 2025 年第二次临时股东会 之 本所根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司 股东会规则》等现行有效的法律、法规、规范性文件及《博瑞生物医药（苏州） 股份有限公司章程》（下称"《公司章程》"），按照律师行业公认的业务标准、 道德规范和勤勉尽责精神，出具本法律意见书。 为出具本法律意见书，本所律师审查了本次股东会相关的文件、资料，并对 本次股东会的召集、召开、表决程序、出席会议人员资格和有效表决权等相关事 项进行了必要的核查和验证。 本所仅就本次股东会的召集和召开程序、出席会议人员资格、表决程序和有 效表决等事项发表法律意见，不对本次股东会所审议议案的内容以及在议案中所 涉及的事实和数据的真实性和准确性等问题发表意见。 法律意见书 上海市徐汇区淮海中路 1010 号嘉华中心 45 层 邮编：200031 Suite 45/F, K.Wah Centre, 1010 Huaihai Road (M), Xuhui District, Shanghai 200031, China 电话/Tel: +86 21 5404 ...

证券代码：688166 证券简称：博瑞医药 公告编号：2025-103 博瑞生物医药（苏州）股份有限公司 2025年第二次临时股东会决议公告 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 重要内容提示： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东会召开的时间：2025 年 12 月 1 日 （二） 股东会召开的地点：江苏省苏州工业园区启月街 299 号独墅湖世尊酒店 M9 会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： 审议结果：通过 表决情况： | 股东类型 | 同意 | | 反对 | | 弃权 | | | --- | --- | --- | --- | --- | --- | --- | | | 票数 | 比例（%） | 票数 | 比例 （%） | 票数 | 比例（%） | | 普通股 | 15,133,189 | 52.9010 | 137,862 | 0.4819 | 13,335,571 | 46.6171 | | 1、出席会议的 ...

Investment Rating - The report does not explicitly state an investment rating for the GLP-1RA drug industry Core Insights - The GLP-1 receptor agonists (GLP-1RA) are a class of drugs that mimic the action of GLP-1, promoting insulin secretion and reducing appetite, leading to blood sugar control and weight loss [2][3] - The global market for GLP-1 drugs is dominated by semaglutide and tirzepatide, with semaglutide achieving sales of $16.6 billion in the first half of 2025, making it the top-selling drug globally [8] - The expiration of patents for major drugs is expected to lead to a surge in generic versions, increasing market competition and reducing treatment costs [11] Summary by Sections GLP-1 Drug Classification and Mechanism - GLP-1RA drugs are categorized into short-acting, long-acting, and ultra-long-acting formulations, each with different pharmacokinetic profiles [2][3] - These drugs are effective in treating conditions such as obesity, type 2 diabetes, and metabolic disorders [4] Market Performance and Patent Expiration - The sales of GLP-1 drugs have shown significant growth, with semaglutide's weight management product Wegovy achieving $5.441 billion in sales, a 78% increase year-over-year [8] - Key patents for drugs like liraglutide have expired, while others like semaglutide will expire in 2026, paving the way for biosimilars [9][11] R&D Progress in China - Chinese companies are advancing in the development of dual-target and multi-target GLP-1 drugs, with significant progress in clinical trials [13][14] - The focus is shifting towards expanding indications for GLP-1 drugs beyond diabetes and obesity to include conditions like Alzheimer's and cardiovascular diseases [15] Future Market Potential - The Chinese GLP-1 market is projected to grow from 9.62 billion yuan in 2020 to 71.7 billion yuan by 2029, with a compound annual growth rate (CAGR) of 22.1% [22] - The inclusion of GLP-1 drugs in national health insurance is expected to enhance market penetration and accessibility [22] Innovation Trends - The industry is witnessing a trend towards multi-target drug development and the introduction of oral formulations to improve patient compliance [28][29] - The competitive landscape is intensifying as both original and generic drug manufacturers seek to establish a foothold in the market [30][31]

Group 1 - The core viewpoint of the news is that Borui Pharmaceutical's stock has increased by 5.03%, reaching a price of 51.33 CNY per share, with a trading volume of 355 million CNY and a turnover rate of 1.68%, resulting in a total market capitalization of 21.718 billion CNY [1] - Borui Pharmaceutical, established on October 26, 2001, and listed on November 8, 2019, is located in Suzhou Industrial Park, Jiangsu Province. The company focuses on the research and production of high-end generic drugs and original new drugs, with product sales accounting for 89.90% of its main business revenue [1] - The revenue composition of Borui Pharmaceutical includes 89.90% from product sales, 6.77% from technology rights and services, and 3.33% from other sources [1] Group 2 - From the perspective of major fund holdings, Huaxia Fund has a fund that heavily invests in Borui Pharmaceutical. The Huaxia SSE Sci-Tech Innovation Board Biomedicine ETF (588130) held 22,700 shares in the third quarter, representing 3.33% of the fund's net value, making it the ninth-largest holding [2] - The Huaxia SSE Sci-Tech Innovation Board Biomedicine ETF (588130) was established on May 14, 2025, with a latest scale of 40.771 million CNY and has achieved a return of 10.96% since its inception [2] - The fund manager of Huaxia SSE Sci-Tech Innovation Board Biomedicine ETF (588130) is Lu Yayun, who has been in the position for 3 years and 169 days, managing total assets of 22.81 billion CNY, with the best fund return during the tenure being 67.65% and the worst being -33.22% [2]

Core Viewpoint - The company, Bright Gene, is set to hold a Q3 2025 earnings presentation on December 2, 2025, to discuss its financial performance and address investor inquiries [2][3]. Group 1: Meeting Details - The earnings presentation will take place on December 2, 2025, from 13:00 to 14:00 [4]. - The meeting will be conducted via the Shanghai Stock Exchange's online roadshow center [4][6]. - Participants will include the Chairman and General Manager, Mr. Yuan Jiandong, the Chief Financial Officer, Mr. Zou Yuanlai, and other key executives [4]. Group 2: Investor Participation - Investors can participate in the meeting by logging into the Shanghai Stock Exchange's roadshow center on the scheduled date [5]. - A pre-question submission period is available from November 25 to December 1, 2025, allowing investors to submit questions via the website or email [5]. Group 3: Contact Information - The company’s securities department can be contacted for further inquiries [6][7]. - The official email for investor relations is IR@bright-gene.com [7].

博瑞生物医药（苏州）股份有限公司 2025 年第二次临时股东会会议资料 | 2025 年第二次临时股东会会议须知 | | --- | | 2025 年第二次临时股东会会议议程 . | | 2025 年第二次临时股东会议案 . | | 议案一 | | 关于对外投资暨关联交易的议案 . | 博瑞生物医药（苏州）股份有限公司 2025 年第二次临时股东会会议资料 二〇二五年十二月 第 1页/共 19页 博瑞生物医药（苏州）股份有限公司 2025 年第二次临时股东会会议资料 2025 年第二次临时股东会会议须知 为维护全体股东的合法权益，确保股东会会议秩序和议事效率，保证股东会 的顺利召开，根据《中华人民共和国公司法》（以下简称"《公司法》"）《中 华人民共和国证券法》（以下简称"《证券法》"）《上市公司股东会规则》以 及《博瑞生物医药（苏州）股份有限公司章程》（以下简称"《公司章程》"） 和博瑞生物医药（苏州）股份有限公司（以下简称"公司"、"上市公司"或"博 瑞医药"）《股东会议事规则》等有关规定，特制定 2025 年第二次临时股东会 会议须知： 一、 为保证本次会议的严肃性和正常秩序，切实维护股东及股东代理人 ...

博瑞生物医药（苏州）股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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法律责任。 重要内容提示： 证券代码：688166 证券简称：博瑞医药 公告编号：2025-101 会议召开时间：2025 年 12 月 2 日（星期二）下午 13:00-14:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络文字互动 投资者可于 2025 年 11 月 25 日（星期二）至 12 月 1 日（星期一）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 IR@bright-gene.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行 回答。 博瑞生物医药（苏州）股份有限公司（以下简称"公司"）已于 2025 年 10 月 31 日发布公司 2025 年第三季度报告，为便于广大投资者更全面深入地了解公 司 2025 年第 ...

Core Viewpoint - 博瑞医药 plans to invest 50 million yuan in Suzhou Geek Gene Technology Co., Ltd., acquiring a 12.8015% stake in the company, which focuses on single-cell sequencing services and immune cell therapy development [1][2] Investment Details - The investment will increase 博瑞医药's stake in 极客基因 from 4.0816% to 12.8015%, with the new capital being priced at 114.3903 yuan per registered capital [3] - 极客基因 is valued at approximately 461 million yuan, reflecting a 581.35% increase in valuation [2][3] - 博瑞医药's investment decision is based on the potential of 极客基因's technology and market prospects, particularly its GK01 cell injection product, which received IND approval [3][4] Financial Performance - 极客基因 reported revenues of 4.47 million yuan and 3.58 million yuan for 2024 and the first three quarters of 2025, respectively, with net losses of 38.58 million yuan and 39.54 million yuan [4] - As of September 30, 2025, 极客基因's total assets were approximately 81.11 million yuan, with total liabilities of about 35.16 million yuan, resulting in an asset-liability ratio of 43.35% [4] 博瑞医药's Financial Situation - 博瑞医药's revenue for the first three quarters of 2025 was approximately 874 million yuan, a year-on-year decrease of 10.5%, with net profit declining by 71.64% to about 50.32 million yuan [6] - The decline in performance is attributed to changes in demand for antiviral products and fluctuations in market competition [6] Strategic Decisions - 博瑞医药 is pursuing a Hong Kong IPO to broaden its financing channels and enhance its international market presence, following the termination of a planned A-share private placement [7] - The decision to go public in Hong Kong aligns with the company's long-term strategic goals and is independent of the previous A-share fundraising efforts [7]

Core Viewpoint - The A-share market experienced fluctuations with the Sci-Tech Innovation Drug sector continuing to weaken, as evidenced by the Huatai-PineBridge Sci-Tech Innovation Drug ETF (589120) declining by 1.5% for four consecutive days, while still attracting over 13 million yuan in investments over the last two days [1][3][5]. Group 1: Market Performance - The Huatai-PineBridge Sci-Tech Innovation Drug ETF (589120) has seen a significant drop in its component stocks, with major companies like Rongchang Bio and Borui Pharma falling over 2%, while TeBao Bio and HaoYuan Pharma showed gains [3][4]. - The index for the Sci-Tech Innovation Drug ETF has had a remarkable year, with a peak increase of 98.84% as of September 5, reflecting the transformation of China's innovative drug industry over the past decade [5][6]. Group 2: Investment Trends - Despite the recent downturn, the ETF has managed to attract substantial capital, indicating ongoing investor interest in the sector [1][5]. - The market is currently in a performance vacuum following the earnings season, with rapid rotations observed, suggesting a trading-driven rather than a fundamental-driven adjustment in the innovative drug sector [5][8]. Group 3: Financial Performance - The innovative drug sector reported a revenue of 48.83 billion yuan for the first three quarters of 2025, marking a 22.1% increase, while the net profit showed a significant turnaround with a 147.1% increase in Q3 alone [8][10]. - The growth in revenue is attributed to the rapid commercialization of innovative drug products, increased sales, and milestone payments from licensing agreements [10]. Group 4: Future Outlook - The domestic innovative drug sector is witnessing a surge in overseas licensing deals, with 175 transactions amounting to over 104.2 billion USD, indicating a robust pipeline for future growth [7][8]. - The combination of policy support, innovation upgrades, and the normalization of overseas business development (BD) is expected to sustain high growth in the innovative drug sector [10].