Core Viewpoint - Changchun High-tech's growth in the growth hormone market is facing significant challenges, leading to a notable decline in both revenue and net profit in recent reports [1][3]. Financial Performance - In 2024, the company reported operating revenue of approximately 13.47 billion yuan, a decrease of 7.55% compared to 2023 [2][3]. - The net profit attributable to shareholders was about 2.58 billion yuan, down 43.01% year-on-year [2][3]. - The net profit after deducting non-recurring gains and losses was approximately 2.83 billion yuan, a decline of 37.32% [2][3]. - For Q1 2025, the company achieved revenue of about 2.99 billion yuan, a decrease of 5.66%, and a net profit of approximately 473 million yuan, down 44.95% [3]. Key Subsidiary Performance - The main subsidiary, Jinsai Pharmaceutical, reported a revenue of 10.67 billion yuan in 2024, a decrease of 3.73%, and a net profit of 2.68 billion yuan, down 40.67% [5]. - Another subsidiary, Baike Biological, also experienced a decline, with revenue of 1.23 billion yuan, down 32.64%, and a net profit of 232 million yuan, down 53.67% [6]. R&D and Sales Expenses - R&D expenses reached 2.69 billion yuan in 2024, an increase of 11.2%, accounting for 19.97% of operating revenue [8]. - Sales expenses rose to 4.44 billion yuan, a year-on-year increase of 11.81% [8]. - Management expenses also increased to 1.20 billion yuan, up 25.59% compared to the previous year [8]. Market Competition - The growth hormone market is becoming increasingly competitive, impacting the performance of leading companies like Jinsai Pharmaceutical [5][6]. - The company is facing pressure from both short-acting and long-acting growth hormone products, with new entrants intensifying competition [5][6]. Strategic Focus - The company aims to enhance innovation and project investment, improve market development and brand building, and focus on cost control to ensure stable and sustainable growth [10].

Financial Performance - In 2024, the company achieved a revenue of CNY 13.466 billion and a net profit of CNY 2.583 billion attributable to shareholders [2] - JinSai Pharmaceutical contributed CNY 10.671 billion in revenue and CNY 2.678 billion in net profit [2] - R&D investment reached CNY 2.690 billion, an increase of 11.20% year-on-year, accounting for 19.97% of revenue [2] - Sales expenses increased to CNY 4.439 billion, a year-on-year growth of 11.81% [2] Q1 2025 Performance - In Q1 2025, the company reported a revenue of CNY 2.997 billion and a net profit of CNY 0.473 billion [3] - JinSai Pharmaceutical generated CNY 2.617 billion in revenue and CNY 0.535 billion in net profit [3] Product Sales and Market Strategy - Long-acting growth hormone revenue constituted approximately 32% of growth hormone product sales in 2024, increasing to 35% in Q1 2025 [5] - Nutritional products saw a revenue increase of nearly 60% in 2024 [5] - The company is focusing on enhancing market promotion and compliance in its sales strategy [10] R&D and Innovation - The company has 9 innovative drugs in clinical stages, including treatments for various conditions such as rheumatoid arthritis and ovarian cancer [6] - The international sales of JinSai Pharmaceutical saw a remarkable growth of 454% year-on-year, with emerging markets like Algeria becoming significant growth points [3] Management and Operational Adjustments - Management expenses rose to CNY 1.202 billion, a 25.59% increase due to structural adjustments in JinSai Pharmaceutical [3] - The company terminated its stock incentive plan, resulting in a one-time expense of CNY 0.055 billion [3] - A total of CNY 1.33 billion in capitalized development expenses was written off due to project termination [3] Future Outlook - The company aims to enhance its internationalization strategy and increase participation in major academic conferences to boost market recognition of its innovative products [9] - Plans to optimize the real estate business and explore new operational models are underway to improve financial efficiency [12]

Core Viewpoint - Changchun High-tech's 2024 annual report highlights a significant increase in R&D investment, reflecting the company's strategic shift towards diversified innovation and long-term growth [1][4]. Group 1: R&D Investment - In 2024, the company's R&D investment reached 2.69 billion yuan, an increase of 11.20% year-on-year, with R&D expenses amounting to 2.17 billion yuan, up 25.75% [1]. - R&D investment accounted for 19.97% of the company's operating revenue, indicating a strong commitment to innovation [1]. Group 2: Strategic Transformation - The company aims to break away from reliance on a single product and is focusing on a diversified innovation strategy to enhance its product pipeline [1]. - Changchun High-tech is actively seeking to enrich its innovation pipeline and accelerate the commercialization of its research outcomes [1]. Group 3: Product Development - Changchun High-tech has made significant breakthroughs in the development of innovative products, including new treatments in the reproductive health sector and long-acting growth hormones for specific conditions [3]. - The company has 24 key products with 28 indications currently in clinical stages, including 9 first-class innovative drugs, which could provide a solid foundation for high-quality growth [3]. Group 4: Subsidiary Focus - Jinsai Pharmaceutical, a core subsidiary of Changchun High-tech, is focusing on innovation and diversification to mitigate the impact of market fluctuations from single product reliance [2]. - Jinsai Pharmaceutical is expanding its strategic focus from children's growth to comprehensive management of children's health and women's health, developing a diverse product matrix across various therapeutic areas [2]. Group 5: Future Outlook - The company plans to enhance its R&D investment while ensuring stable performance, aiming for a comprehensive pipeline layout and global expansion [4]. - There is a focus on upgrading existing product technologies and optimizing processes to meet market demands with new products [4].

Core Viewpoint - Changchun High-tech announced a cash distribution plan for 2024, proposing a dividend of 26 yuan per 10 shares (including tax), totaling approximately 1.047 billion yuan, which represents 40.55% of the net profit and a dividend yield of 2.40% based on the average trading price for 2024 [1][2]. Financial Performance - The company reported a revenue of 13.466 billion yuan for the year, a year-on-year decrease of 7.55% - Net profit was 2.583 billion yuan, down 43.01% year-on-year - Basic earnings per share were 6.42 yuan, with a weighted average return on equity of 11.66% [2]. Historical Dividend Distribution - The company has distributed dividends 15 times since its listing, with the latest proposal being 10 shares for 26 yuan, compared to previous distributions of 10 shares for 45 yuan in 2023 and 10 shares for 10 yuan in 2022 [1][2]. Market Activity - Over the past five days, there has been a net outflow of 213 million yuan in principal funds [3]. - The latest margin financing balance for the stock is 1.755 billion yuan, with an increase of 89.45 million yuan over the past five days, reflecting a growth rate of 5.37% [4]. Industry Comparison - In the pharmaceutical and biotechnology sector, 153 companies have announced their 2024 distribution plans, with WuXi AppTec leading with a total cash distribution of 7.692 billion yuan, followed by Yunnan Baiyao and Hengrui Medicine with distributions of 2.114 billion yuan and 1.275 billion yuan, respectively [4][5].

Market Overview - On April 18, 2025, A-shares showed mixed performance with the Shanghai Composite Index closing at 3276.73 points, down 0.11%, and a trading volume of 380.31 billion yuan [2] - The Shenzhen Component Index closed at 9781.65 points, up 0.23%, with a trading volume of 534.34 billion yuan [2] - Hong Kong stocks rebounded strongly on April 17, 2025, with the Hang Seng Index rising 1.61% to 21395.14 points and a total trading volume of 192.41 billion HKD [2] - The Dow Jones Industrial Average fell 1.33% to 39142.23 points, while the S&P 500 Index rose 0.13% to 5282.70 points on the same day [2] Regulatory News - The Shanghai Stock Exchange issued a regulatory letter urging Shandong Xinchao Energy Co., Ltd. to comply with information disclosure obligations related to competitive tender offers [2] - The letter highlights that Yitai B shares have made a partial offer to the company's shareholders, constituting a competitive offer, and emphasizes the need for proper disclosure to protect investors [2] Industry Developments - The 2025 China Internet Entrepreneurs Forum was held in Beijing, emphasizing the need for the internet industry to take on higher historical missions and enhance corporate responsibility [3][4] - The forum called for breakthroughs in original, frontier, and disruptive technologies, urging companies to focus on quality, efficiency, and core competitiveness [4] Government Initiatives - A State Council meeting on April 18, 2025, discussed measures to stabilize employment and promote high-quality economic development amid a challenging external environment [5] - The meeting emphasized the importance of supporting foreign trade and investment, enhancing public services for employment, and stabilizing the stock market and real estate sector [5]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：000661 证券简称：长春高新 公告编号：2025-045 长春高新技术产业（集团）股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 重要内容提示： □是 √否 一、主要财务数据 （一）主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 √否 ■ （二）非经常性损益项目和金额 √适用 □不适用 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、 误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）声明：保证季度报告中财务信 息的真实、准确、完整。 3.第一季度报告是否经审计 ■ 其他符合非经常性损益定义的损益项目的具体情况 □适用 √不适用 公司不存在其他符合非经常性损益定义的损益项目的具体情况。 将《公开发行证券的公司信息披露解释性公告第1号一一非经常性损益》中列举的非经常性损益项目界 定为经常性损益项目的情况说明 □适用 √不适用 公司不存在将《公开发行证券 ...

长春高新的核心子公司金赛药业，作为公司生长激素业务的主要贡献者，2024年实现收入106.71亿元， 同比下降3.73%；归属于母公司所有者的净利润为26.78亿元，同比下降40.67%。2025年一季度，金赛药 业实现收入26.17亿元，同比增长5.94%，但归属于母公司所有者的净利润为5.35亿元，同比下降 38.31%。业绩下滑的主要原因是销售费用和研发投入的持续增加。公司为强化销售端竞争力，增加了 销售人员数量，同时加快了新产品的研发进程，导致相关费用大幅上升。 2024年，长春高新（000661）交出了一份令人瞩目的业绩报告，但其业绩表现却并不乐观。年报显示， 公司2024年实现营业收入134.66亿元，同比下降7.55%；归属于上市公司股东的净利润为25.83亿元，同 比下降43.01%。这是长春高新近20年来首次出现年度收入同比下滑的情况。更令人担忧的是，2025年 一季度，公司业绩颓势依旧，实现营业收入29.97亿元，同比下降5.66%；归属于上市公司股东的净利润 为4.73亿元，同比下降44.95%。 长春高新的业绩下滑与LPR的稳定形成了鲜明对比。公司业绩的疲软不仅反映了其主营业务面临的挑 ...

4月20日，长春高新（000661）(000661.SZ)披露2024年年度报告及2025年一季报。在公司持续加大研发 投入，叠加集采扩面、竞争加剧等外部因素影响下，2024年长春高新营收利润数据表现并不亮眼，营业 收入小幅下滑，但仍达到了134.66亿元，归母净利润25.83亿元。值得注意的是，2025年一季度，核心子 公司金赛药业单季度收入26.17亿元，同比重回增长。 践行"投资者为本"，多措并举开展市值管理 短期业绩数据虽并不亮眼，但以长期主义视角来看，长春高新对于自身发展仍保持着一贯的信心。这不 仅从公司产品及研发布局中体现，在2024年公司股价低迷之时，从企业多措并举践行"质量回报双提 升"中也有所体现。 以分红及回购为例，此次公司同步披露2024年度利润分配方案，拟每10股派发现金红利26元，现金分红 总额10.47亿元，叠加此前以现金为对价集中竞价回购注销的4.20亿元共14.67亿元，分红及回购金额占 全年净利润的56.81%。而此前，据统计，自公司上市至2024年底，公司累计现金分红37.47亿元，集中 竞价回购12.20亿元，合计49.67亿元，已达公司除并购增发外各类募集现金总额31. ...

国内生长激素龙头交出了近20年来首份年度收入同比下滑的成绩单。 4月20日，长春高新（000661）(000661.SZ，股价91.95元，市值375.1亿元)同时发布了2024年年报和 2025年一季报，2024年公司实现营业收入134.66亿元，同比降低7.55%；实现归母净利润25.83亿元，同 比降低43.01%。今年一季度，公司实现收入29.97亿元，同比减少5.66%；实现归母净利润4.73亿元，同 比减少44.95%。 手持流感疫苗、水痘疫苗和带状疱疹疫苗的百克生物(688276.SH，股价21.83元，市值90.3亿元)，2024 年实现收入12.29亿元，同比降低32.64%；实现归母净利润2.32亿元，同比降低53.67%，这是其分拆上 市四年期间，第三次出现收入利润双降的情况。 此外，高新地产实现收入7.56亿元，同比降低17.32%；实现归母净利润0.15亿元，同比降低80.09%。 唯一保持业绩正增长的重要子公司华康药业，营收在长春高新总收入中占比仅为个位数，难以扭转整体 业绩走势。 为了应对下滑，长春高新继续加大了对研发和销售的投入，主要是加快推进金赛药业新产品研发。长春 高新研发 ...

长春高新（000661）4月20日披露2024年年度报告，报告期内，公司实现营业收入134.66亿元，净利润 25.83亿元，基本每股收益6.42元。每10股派发现金红利26元(含税)。 在研发进度方面，重组人促卵泡激素注射液、黄体酮注射液(II)等获得《药品注册证书》，长效生长激 素新增用于性腺发育不全(特纳综合征)所致女孩的生长障碍、用于特发性身材矮小(ISS)两项适应症，伏 欣奇拜单抗(粉剂、水剂)、重组人促卵泡激素-CTP融合蛋白注射液、鼻喷流感减毒活疫苗(液体制剂)等 产品上市申请相继获得受理。截至目前，长春高新已有24款重点产品进入临床阶段。 2024年，长春高新加快推进国际市场生长激素等产品销售工作，成功在阿尔及利亚等国家实现市场突 破，子公司金赛药业国外地区实现销售收入0.99亿元，同比增长454%。 长春高新表示，将不断强化新药研发进化能力，聚焦行业创新发展趋势，探索产业前沿技术升级方向， 集中资源保证重点项目进度，推出更多满足市场需求的新产品；针对老龄化趋势，专注高增长、高附加 值领域，推动创新突破；将持续完善项目管理体系，以市场检验为标准，制定完善项目准入与中止机 制，确保项目如期推进并 ...