证券代码：688276 证券简称：百克生物 长春百克生物科技股份公司 2024 年年度股东会会议资料 二零二五年五月 四、股东及股东代理人要求在股东会现场会议上发言的，应于股东会召开前 一天向会议会务组进行登记。会议主持人根据会务组提供的名单和顺序安排发 言。现场要求提问的股东及股东代理人，应当按照会议的议程举手示意，经会议 主持人许可后方可提问。有多名股东及股东代理人同时要求提问时，先举手者先 提问；不能确定先后时，由主持人指定提问者。 会议进行中只接受股东及股东代理人发言或提问。发言或提问应围绕本次会 议议题进行，简明扼要，时间不超过 5 分钟。发言或提问时需说明股东名称及所 持股份总数。每位股东及股东代理人发言或提问次数不超过 2 次。 五、股东及股东代理人要求发言时，不得打断会议报告人的报告或其他股东 及股东代理人的发言。在股东会进行表决时，股东及股东代理人不再进行发言。 股东及股东代理人违反上述规定，会议主持人有权加以拒绝或制止。 百克生物 2024 年年度股东会会议资料 2024 年年度股东会会议须知 为了维护全体股东的合法权益，确保股东会的正常秩序和议事效率，保证会 议的顺利进行，根据《中华人民 ...

中信证券股份有限公司关于 长春百克生物科技股份公司 2024年持续督导工作现场检查报告 根据《证券发行上市保荐业务管理办法》《上海证券交易所科创板股票上市 规则》和《上海证券交易所上市公司持续督导工作指引》等有关法律、法规的规 定,中信证券股份有限公司(以下简称"中信证券"、"保荐人")作为正在对长春 百克生物科技股份公司(以下简称"百克生物"、"上市公司"、"公司")进行持续 督导工作的保荐人,对公司2024年度持续督导期间(以下简称"本持续督导期") 的规范运行情况进行了现场检查,现就现场检查的有关情况报告如下: 一、本次现场检查的基本情况 (一)保荐人 中信证券股份有限公司 (二) 保荐代表人 王晨晨、朱绍辉 (三)现场检查时间 2025年4月9日至2025年4月28日 (四) 现场检查人员 王晨晨、朱绍辉、杜博闻 现场检查人员查阅了上市公司最新章程、三会议事规则及会议材料,财务管 理、内部审计、募集资金管理、对外担保管理制度、关联交易制度等相关内控制 度,查阅了公司 2024年度内部控制自我评价报告、2024年度内部控制审计报告 等文件,对高级管理人员进行访谈。 经查阅前述文件,保荐人认为: 本持续督 ...

中信证券股份有限公司 关于长春百克生物科技股份公司 2024 年度持续督导跟踪报告 中信证券股份有限公司（以下简称"中信证券"或"保荐机构"）作为长 春百克生物科技股份公司（以下简称"百克生物"或"公司"）首次公开发行 并在科创板上市的持续督导保荐机构，根据《证券发行上市保荐业务管理办法》 《上海证券交易所上市公司自律监管指引第11号——持续督导》及《上市公司 监管指引第2号——上市公司募集资金管理和使用的监管要求》等相关规定，负 责百克生物上市后的持续督导工作，并出具本持续督导年度跟踪报告。 | 序 | 工作内容 | 实施情况 | | --- | --- | --- | | 号 | | | | 1 | 建立健全并有效执行持续督导工作制度，并针对具体的 | 保荐机构已建立健全并有效 | | | 持续督导工作制定相应的工作计划 | 执行了持续督导制度，并制 | | | | 定了相应的工作计划 | | | 根据中国证监会相关规定，在持续督导工作开始前，与 | 保荐机构已与百克生物签订 保荐协议，该协议明确了双 | | 2 | 上市公司签署持续督导协议，明确双方在持续督导期间 | 方在持续督导期间的权利和 | | ...

费用方面，销售/管理/研发/财务费率分别为38.6%/9.2%/12.7%/-0.3%，同比变化 +3.2pp/+0.5pp/+1.8pp/+0.4pp。 研发管线持续推进，多项产品取得关键进展。公司坚持创新驱动，2024 年研发投入1.6 亿元，占营收比 重12.7%。依托五大核心技术平台，多个在研项目取得里程碑进展：液体鼻喷流感疫苗上市申请已获受 理，现场检查完毕；狂犬单抗完成I期临床，正在进行II期；破伤风单抗启动I/II 期临床；HSV-2 mRNA 疫苗和Hib 疫苗均获得临床试验批准；重组带状疱疹疫苗和佐剂流感疫苗已提交IND 申请并获受理。公 司通过投资传信生物持续加码mRNA 技术平台建设。 盈利预测：预计公司2025-2027 年EPS 分别为0.6 元、0.68 元、0.75 元。 风险提示：产品销售下滑风险，产品研发进度不及预期风险。 事件：公司发布2024年报和 2025年一季报，2024年实现营业收入12.3亿元，（-32.6%），实现归母净利 润2.3 亿元（-53.7%），业绩下滑主要因带状疱疹疫苗销量减少。2025Q1 实现营业收入1.6 亿元， （-40.0%），实现归母净利 ...

Core Insights - The core viewpoint of the articles highlights the significant decline in performance of Baike Biotech, with a sharp drop in revenue and net profit due to the poor sales of its key product, the shingles vaccine [1][2]. Financial Performance - Baike Biotech reported a 32.64% decrease in revenue and a 53.67% drop in net profit for 2024, with a staggering 98.24% decline in net profit for Q1 2025 compared to the previous year [1]. - The shingles vaccine sales plummeted by 69.8% in 2024, leading to an 80% increase in inventory and a revenue contribution of only 251 million yuan, down from its previous strong performance [1]. Market Dynamics - The shingles vaccine, priced at 1,369 yuan per dose, was expected to disrupt the market dominated by GSK's two-dose vaccine priced at 3,200 yuan, but the anticipated market response has not materialized [2]. - The pediatric vaccine segment, which constitutes 68% of Baike's revenue, is facing structural challenges due to a decline in newborn numbers and intense competition from 11 other manufacturers [3]. Competitive Landscape - The adult vaccine market is experiencing fierce price competition, particularly in categories like HPV and influenza, which is putting pressure on Baike's growth prospects [3]. - The domestic shingles vaccine market is becoming increasingly competitive, with over ten companies, including Watson Bio and Wantai Bio, developing products, indicating a potential repeat of the intense competition seen in the HPV vaccine market [4]. Strategic Initiatives - In response to these challenges, Baike Biotech is accelerating its investment in innovative pipelines, including Alzheimer's therapeutic vaccines and mRNA technology, with R&D expenditure expected to rise to 12.7% of revenue in 2024 [3]. - The company is also advancing the development of a recombinant protein vaccine to address diverse population needs, which is critical for its recovery strategy [3].

Investment Rating - The investment rating for the company is "Buy-A" with a 6-month target price of 23.53 CNY, compared to the current stock price of 20.83 CNY [5][8]. Core Views - The company's performance is under pressure due to a decline in sales of the shingles vaccine, a decrease in gross margin, and an increase in expense ratios. In 2024, total revenue was 1.229 billion CNY, down 32.64% year-on-year, and net profit was 232 million CNY, down 53.67% year-on-year [1][2]. - The sales revenue for the chickenpox vaccine and nasal spray flu vaccine showed stable growth, with revenues of 837 million CNY (up 2.16% year-on-year) and 141 million CNY (up 15.37% year-on-year), respectively. However, the shingles vaccine sales dropped significantly to 251 million CNY, down 71.54% year-on-year [2]. - The company is advancing its vaccine pipeline, with several projects expected to enhance performance, including the approval of a liquid nasal spray flu vaccine, which is anticipated to contribute positively to future earnings [3][8]. Summary by Sections Financial Performance - In 2024, the overall gross margin was 85.42%, down 4.81 percentage points, and the expense ratio was 60.23%, up 5.84 percentage points. For Q1 2025, the gross margin was 85.27%, down 4.45 percentage points, while the expense ratio surged to 87.12%, up 20.28 percentage points [1]. - The company forecasts revenue growth rates of 10.2%, 13.3%, and 11.7% for 2025 to 2027, with net profit growth rates of 4.9%, 16.7%, and 14.4% for the same period [8][10]. Vaccine Sales - The company has successfully expanded its international market presence, exporting the shingles vaccine to Colombia and the chickenpox vaccine to Afghanistan, with products now available in over 10 countries [2]. - The company is focusing on multiple vaccine development projects, including the whooping cough vaccine and rabies monoclonal antibody, which are expected to enter clinical trials in 2025 [3]. Market Position - The company's total market capitalization is approximately 8.616 billion CNY, with a circulating market capitalization of the same amount. The total share capital is 413.66 million shares [5].

Core Viewpoint - The company, Baike Biotech, reported its financial results for 2024 and Q1 2025, highlighting its strong position in the vaccine market and ongoing product development efforts [1][3]. Financial Performance - In 2024, the company achieved a revenue of 1.229 billion yuan and a net profit of 232 million yuan, with a basic earnings per share of 0.56 yuan. A cash dividend of 1.69 yuan per 10 shares (tax included) is proposed [1]. - For Q1 2025, the company reported a revenue of 162 million yuan and a net profit of 1.0643 million yuan [1]. Product Development - The company focuses on vaccines for the 40 years and older demographic, particularly the shingles vaccine, which has expanded its target age group to include 40-50 years old. The vaccine is noted for its strong safety profile and lower side effects [2]. - The company is advancing several clinical trials, including the liquid nasal flu vaccine, rabies monoclonal antibody, and various other vaccines, with multiple projects in different stages of clinical research [2][5]. Market Strategy - In 2025, the company plans to upgrade its marketing strategy, emphasizing the shingles and flu vaccines while maintaining its leading position in the chickenpox vaccine market through various promotional activities [3]. - The company aims to enhance brand recognition and product coverage through scientific outreach, academic exchanges, and brand marketing [3]. Industry Outlook - The vaccine industry in China is rapidly developing, with increasing vaccination rates and a shift towards a mature market. However, challenges such as declining birth rates and intensified competition are present [3][4]. - The government is investing in the pharmaceutical industry, promoting high-quality and innovative developments, which is expected to lead to more domestic innovative vaccines being approved [4]. - The company is adapting to external changes by focusing on adult vaccines, multi-valent vaccines, and therapeutic vaccines, while also enhancing public awareness of disease prevention [4].

Policy Developments - The head of the National Medical Products Administration, Li Li, conducted research in Jiangsu to support the development of the pharmaceutical industry, emphasizing the need for tailored strategies and full guidance for key products [2] Drug and Device Approvals - Kangfang Biotech's Ilumya (依若奇) monoclonal antibody has been approved for the treatment of moderate to severe plaque psoriasis in adults, marking it as China's first domestically approved dual-target monoclonal antibody [3] - Hengrui Medicine's subsidiary received approval for clinical trials of HRS-9813 capsules, a class 1 innovative drug for treating progressive pulmonary fibrosis, with a total R&D investment of approximately 98.27 million yuan [4] - Jiukang Biotech announced the receipt of multiple medical device registration certificates, enhancing its product range without significant immediate impact on operations [5] - Renfu Pharmaceutical's subsidiary received approval for HWS116 injection, a new biological product for treating advanced solid tumors, with a cumulative R&D investment of about 38 million yuan [6] Financial Reports - Baike Biotech reported a 39.96% decline in revenue to 162 million yuan and a 98.24% drop in net profit to 1.0643 million yuan, primarily due to decreased sales of shingles vaccines [7] - Haichen Pharmaceutical achieved a 36.43% increase in revenue to 143 million yuan and a 12.57% rise in net profit to 15.037 million yuan [9] - Meikang Biotech's annual report indicated a revenue of 1.742 billion yuan, a 7.61% decrease, while net profit rose by 0.56% to 258 million yuan [10] Capital Market Activities - Xiamen Junde Pharmaceutical completed nearly 100 million yuan in Series A financing, aimed at registering and producing a weight-loss oral device and accelerating R&D for innovative drug-device combinations [11] - Qise Lian Biotech announced the completion of its first round of financing, which will be used to accelerate platform development and product innovation in iPSC therapies [12] Industry Developments - Hainan University announced the release of self-developed brain-computer interface (BCI) core technologies and products, achieving full-chain technological autonomy in the BCI field, with performance on par with international top products [13] - The global brain-computer interface market is projected to grow from approximately 2.62 billion USD in 2024 to 12.4 billion USD by 2034, with a compound annual growth rate of 17.4% from 2025 to 2034 [14] Regulatory and Market Alerts - Changyao Holdings announced a one-day suspension of its stock due to negative net assets and continuous losses, with its stock name changing to "*ST Changyao" [15] - Zhongyao Holdings received a regulatory letter from the Shenzhen Stock Exchange regarding inaccuracies in its 2023 financial disclosures, leading to potential accountability for its executives [16][17] - Huaren Health announced plans by shareholders to reduce their holdings by up to 1.5% due to funding arrangements [18]

一、本次限制性股票激励计划已履行的决策程序及相关信息披露 证券代码：688276 证券简称：百克生物 公告编号：2025-016 长春百克生物科技股份公司 关于 2022 年限制性股票激励计划首次授予部分第二个归属期及 预留授予部分第一个归属期归属条件未成就 并作废部分已授予但尚未归属的限制性股票的公告 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、准确性和完整性依法承担法律责任。 长春百克生物科技股份公司（以下简称"公司"）于 2025 年 4 月 17 日召开 第六届董事会第五次会议、第六届监事会第二次会议，审议通过《关于 2022 年 限制性股票激励计划首次授予部分第二个归属期及预留授予部分第一个归属期 归属条件未成就并作废部分已授予但尚未归属的限制性股票的议案》，现将相关 事项说明如下： （一）2022 年 9 月 22 日，公司召开第五届董事会第九次会议，会议审议通 过了《关于<长春百克生物科技股份公司 2022 年限制性股票激励计划（草案）> 及其摘要的议案》《关于<长春百克生物科技股份公司 2022 年限制性股票激励计 划实施考核管理办法> ...