深圳微芯生物科技股份有限公司 关于回购股份事项前十名股东及前十名无限售条件股东持 股情况的公告 证券代码：688321 证券简称：微芯生物 公告编号：2025-069 | 7 | 天府清源控股有限公司 | 8,214,410 | 2.01 | | --- | --- | --- | --- | | 8 | 香港中央结算有限公司 | 7,989,497 | 1.96 | | 9 | Vertex Technology Fund (III) Ltd | 5,131,663 | 1.26 | | 10 | 南昌海德睿远企业管理合伙企业（有限合伙） | 3,469,646 | 0.85 | 二、 公司前十名无限售条件股东持股情况 | 序号 | 股东姓名/名称 | 持股数量 | 占总股本 | | --- | --- | --- | --- | | | | （股） | 比例（%） | | 1 | 博奥生物集团有限公司 | 30,627,198 | 7.51 | | 2 | 深圳市海粤门生物科技开发有限公司 | 22,936,008 | 5.62 | | 3 | XIANPING LU | 22,239,625 | 5.4 ...

Core Viewpoint - Microchip Biotech (SH688321) reported significant turnaround in profitability for the first three quarters of 2025, with a substantial increase in revenue and net profit compared to the previous year [1][2]. Financial Performance - The company's revenue for the first three quarters reached 674.16 million yuan, a year-on-year increase of 40.12% [1]. - The net profit attributable to shareholders was 70.77 million yuan, a remarkable turnaround from a loss of 51.08 million yuan in the same period last year, representing a growth of 238.53% [1]. - The net profit excluding non-recurring gains and losses was 58.44 million yuan, up 201.17% year-on-year [1]. - Basic earnings per share were reported at 0.1735 yuan [1]. Profitability Metrics - The gross margin for the first three quarters was 87.29%, a slight decrease of 0.29 percentage points year-on-year [2]. - The net profit margin improved to 10.50%, an increase of 21.12 percentage points compared to the previous year [2]. Expense Analysis - Total operating expenses for the first three quarters amounted to 504 million yuan, an increase of 49.91 million yuan from the previous year [2]. - The expense ratio was 74.73%, a decrease of 19.61 percentage points year-on-year [2]. - Sales expenses increased by 9.90%, management expenses rose by 18.93%, R&D expenses grew by 10.04%, and financial expenses increased by 8.20% [2]. Leadership Compensation - The chairman and general manager, Xianping Lu, received a salary of 2.996 million yuan in 2024, reflecting an 11.50% decrease from the previous year's salary of 3.385 million yuan [4].

Group 1 - Microchip Biotech (688321) conducted a roadshow on November 3, 2025, with participation from various securities and investment firms [1] - The company is advancing a Phase II clinical study of Xioroni in China for the first-line treatment of advanced pancreatic ductal adenocarcinoma, with a target enrollment of 42 patients and a 6-month progression-free survival (PFS) rate of nearly 80% [2] - The company reported significant growth in its two main products, with Xigletin sodium achieving a 136.1% year-on-year increase in the first three quarters of 2025, driven by a successful "self-operated + agency" model [3] Group 2 - Xidabening's performance in the first three quarters of 2025 also showed an 18.8% year-on-year growth, benefiting from its inclusion in the national medical insurance and positive clinical trial results [3] - The company is expanding its production capacity for Xigletin sodium, with plans to add 1.2 billion tablets by 2027 to meet growing market demand [6] - Xidabening is currently in Phase III clinical trials for colorectal cancer, with promising results showing a 64.0% PFS rate in a recent study [7][8] Group 3 - The company's financial performance for the first three quarters of 2025 includes a main revenue of 674 million yuan, a year-on-year increase of 40.12%, and a net profit of 70.77 million yuan, up 238.53% [8] - The gross profit margin stands at 87.29%, indicating strong profitability [8] - Recent institutional ratings for the stock include three buy ratings and one hold rating [8]

Core Insights - The company reported strong financial performance for Q3 2025, with revenue reaching 674 million yuan (+40.12%) and a net profit of 70.77 million yuan, marking a turnaround from a loss of 51.08 million yuan in the same period last year [1] - The sales of key products, including Sidabenan and Siglecatin, significantly contributed to growth, with Sidabenan maintaining a steady growth rate of 18.76% and Siglecatin's revenue surging by 136.13% [1] - The company is advancing its innovative drug pipeline, with promising data presented at the 2025 ESMO conference, including the selection of Sidabenan's "HDACi+IO" treatment for NK/T cell lymphoma for an "oral presentation" [1] - The company has a diverse portfolio of next-generation innovative drugs, including breakthrough data for the pancreatic cancer treatment, with FDA IND approval for the selective Aurora B inhibitor CS231295 [1] Financial Projections - The company anticipates rapid revenue growth, projecting revenues of 936 million yuan, 1.402 billion yuan, and 2.192 billion yuan for 2025-2027, with growth rates of 42.20%, 49.86%, and 56.35% respectively [2] - Net profit forecasts for the same period are 123 million yuan, 248 million yuan, and 464 million yuan, with growth rates of 207.35%, 101.46%, and 87.09% respectively [2] Product Development and Business Strategy - The company has a strong pipeline of early-stage products with differentiated potential, including candidates like CS08399, CS1011, CDCS04, and CDCS28, which are expected to form the core value of the company [2] - The company is actively pursuing business development opportunities both domestically and internationally, particularly for the expansion of Sidabenan and early-stage innovative molecules [2]

Group 1 - The core point of the article is that Microchip Biotech (688321) has changed the status of its application for a specific stock issuance to "submitted for registration" [2] - The company plans to raise approximately 950 million yuan through this stock issuance [2] - The underwriting institution for this issuance is Guotou Securities Co., Ltd. [2]

Summary of Microchip Biotech Conference Call Company Overview - **Company**: Microchip Biotech - **Industry**: Biotechnology, specifically focusing on pharmaceuticals for diabetes, oncology, and autoimmune diseases Key Financial Performance - **Q3 2025 Performance**: Revenue reached 270 million yuan, a 50% year-over-year increase and a 10% quarter-over-quarter increase [3] - **Cumulative Profit**: 70.77 million yuan for the first three quarters of 2025 [3] - **Product Revenue Growth**: - **SGLT2 Inhibitor (西格列他钠)**: Revenue increased by 136% year-over-year [2][3] - **Dexamethasone (西达本胺)**: Revenue grew by 19% year-over-year, driven by new indications for diffuse large B-cell lymphoma [2][3] Product Insights - **SGLT2 Inhibitor**: - Unique oral diabetes medication with potential for blood sugar control and improvement of complications [2] - Expected to increase market share as it replaces less safe products [4] - Plans for high growth in 2026 and construction of a new production base to meet demand [2][5] - **Dexamethasone**: - Entered insurance coverage with a 15% price reduction, but growth was below expectations due to reimbursement issues in some regions [4][10] - Ongoing clinical trials for new indications, including colorectal cancer and melanoma, with promising data [11][12] Research and Development Progress - **Early R&D Projects**: - Focus on autoimmune, oncology, neurological, and metabolic diseases [6] - CS32,582 for psoriasis expected to yield initial data in early 2026 [6] - CS231,295 has been approved for clinical trials in the U.S. [6][13] - **Dexamethasone ADC**: - Currently in IND enabling evaluation, targeting immune tolerance issues in solid tumors and hematological malignancies [7] - **Clinical Trials**: - Ongoing phase II trials for the first-line pancreatic cancer drug, with robust data expected to support future IND applications [8][10] Future Outlook - **Revenue and Profit Guidance**: - Anticipated growth driven by SGLT2 Inhibitor and new indications for Dexamethasone [12][13] - R&D investment planned at 30%-35% of revenue to support ongoing projects [15] - **Business Development**: - Active engagement with international partners for product launches both domestically and abroad [17] - **Market Position**: - Despite challenges, Dexamethasone is expected to maintain growth due to its unique positioning and ongoing clinical trials [18] - Plans to expand into overseas markets, particularly in Europe and the U.S. [18] Additional Insights - **Weight Loss Drug Development**: Two projects in the high-quality weight loss drug sector are progressing well, with potential clinical trial submissions in 2026 [16] - **Long-term Growth Strategy**: The company aims to balance cost reduction and efficiency while maintaining a strong pipeline of innovative products [18]

Core Viewpoint - Microchip Biotech's stock has shown significant growth this year, with a notable increase in revenue and net profit, indicating strong business performance and investor interest [1][2]. Group 1: Stock Performance - On November 3, Microchip Biotech's stock rose by 2.01%, reaching 31.49 CNY per share, with a trading volume of 4.65 billion CNY and a turnover rate of 3.70%, resulting in a total market capitalization of 128.42 billion CNY [1]. - Year-to-date, Microchip Biotech's stock price has increased by 69.48%, with a 7.55% rise over the last five trading days, a 2.71% increase over the last 20 days, and a 15.91% decline over the last 60 days [1]. - The company has appeared on the "Dragon and Tiger List" twice this year, with the most recent occurrence on July 3 [1]. Group 2: Financial Performance - For the period from January to September 2025, Microchip Biotech reported a revenue of 674 million CNY, reflecting a year-on-year growth of 40.12%, and a net profit attributable to shareholders of 70.77 million CNY, which is a remarkable increase of 238.53% [2]. - As of September 30, 2025, the number of shareholders increased to 24,400, a rise of 25.25%, while the average circulating shares per person decreased by 20.16% to 16,681 shares [2]. Group 3: Company Overview - Microchip Biotech, established on March 21, 2001, and listed on August 12, 2019, is located in the Zhigu Industrial Park, Nanshan District, Shenzhen, Guangdong Province [1]. - The company's main business involves providing affordable, clinically needed original new molecular entity drugs, with 97.80% of its revenue coming from product sales, 1.81% from other sources, 0.27% from technology licensing, and 0.13% from other income [1]. - Microchip Biotech operates within the pharmaceutical and biotechnology sector, specifically in chemical pharmaceuticals and formulations, and is involved in concepts such as anti-cancer drugs, biopharmaceuticals, AI medicine, and innovative drugs [1].

Core Insights - Micron Biomedical, established in March 2001 and listed on the Shanghai Stock Exchange in August 2019, is a leading company in the domestic innovative drug sector, focusing on the research and development of original new molecular entity drugs [1] Group 1: Business Performance - For Q3 2025, Micron Biomedical reported revenue of 674 million yuan, ranking 66th among 110 companies in the industry, significantly lower than the top company, East China Pharmaceutical, which had revenue of 32.664 billion yuan [2] - The net profit for the same period was 70.77 million yuan, ranking 57th in the industry, with a substantial gap compared to the leading company, Hengrui Medicine, which reported a net profit of 5.76 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 54.42%, an increase from 50.77% in the previous year and above the industry average of 35.26% [3] - The gross profit margin for the same period was 87.29%, slightly down from 87.58% year-on-year but still significantly higher than the industry average of 57.17% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 25.25% to 24,400, while the average number of circulating A-shares held per account decreased by 20.16% to 16,700 [5] - In the first half of 2025, the total revenue was 407 million yuan, a year-on-year increase of 34.56%, and the net profit was 30 million yuan, marking a year-on-year increase of 172.16% [5] Group 4: Future Projections - Pacific Securities forecasts that the company's revenue for 2025, 2026, and 2027 will be 881 million yuan, 1.204 billion yuan, and 1.694 billion yuan, respectively, with year-on-year growth rates of 33.87%, 36.73%, and 40.67% [6] - The projected net profit for the same years is expected to be 83 million yuan, 106 million yuan, and 147 million yuan, with growth rates of 172.65%, 27.49%, and 38.54% respectively [6]

Core Viewpoint - Microchip Biotech announced a share buyback plan to utilize its own funds and a special loan for stock repurchase, aimed at employee stock ownership plans or equity incentives [2] Summary by Categories Buyback Plan - The company plans to repurchase a portion of its issued A-shares through the Shanghai Stock Exchange via centralized bidding [2] - The total amount for the buyback will be no less than RMB 10 million and no more than RMB 15 million [2] - The repurchase price will not exceed RMB 47.46 per share, which is capped at 150% of the average trading price of the company's stock over the 30 trading days prior to the board's resolution [2] Funding Sources - The funds for the buyback will come from the company's own resources and a special loan designated for stock repurchase [2]

Core Points - Microchip Biotech announced the cancellation of stock appreciation rights due to unmet performance targets [2] - The company failed to meet the revenue growth rate required for the 2021 stock appreciation rights incentive plan [2] - A total of 12,500 stock appreciation rights will be rendered void, affecting one incentive recipient [2]