证券代码：002294 证券简称：信立泰 编号：2024-053 深圳信立泰药业股份有限公司 关于参加 2024 年度 深圳辖区上市公司集体接待日活动的公告 为进一步加强与投资者的互动交流，深圳信立泰药业股份有限公司（下称"公 司"）将参加由深圳证监局和深圳证券交易所指导、深圳上市公司协会与深圳市 全景网络有限公司联合举办的"2024 年度深圳辖区上市公司集体接待日"活动， 现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （https://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP，参 与本次互动交流，活动时间为 2024 年 12 月 12 日（周四）14:30-17:00。 届时公司高管将在线就公司业绩、公司治理、发展战略、经营状况和可持续 发展等投资者关心的问题，与投资者进行沟通与交流，欢迎广大投资者踊跃参与。 特此公告 深圳信立泰药业股份有限公司 二〇二四年十二月四日 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 董事会 ...

Company and Industry Summary Company Overview - The company is involved in the pharmaceutical industry, focusing on chronic disease medications, particularly for hypertension and diabetes management. Key Points and Arguments Product Development and Market Entry - Two key products have been successfully included in the medical insurance directory, expected to generate approximately 100 million in revenue each within a year [1] - The company anticipates that the sales of these products will exceed initial expectations, with projections of reaching up to 500 million in revenue in the future [1] - The company has a robust pipeline with multiple products expected to launch, including hypertension medications and diabetes treatments, which will enhance the product line significantly [3][4] Clinical Trials and Data Expectations - The company is optimistic about upcoming clinical trial data, with a high probability of positive results expected by the end of December [2] - Safety and efficacy data from ongoing trials show promising results, with no significant differences observed between the treatment and placebo groups [12] - The company is preparing for potential FDA discussions regarding trial data and product approvals [19] Financial Projections - The company expects to achieve revenue growth of 10% next year, with new product launches contributing significantly to this growth [4] - Anticipated revenue for the current year is around 600 million, with projections for next year ranging between 200 to 300 million [25] - The company aims for a long-term growth trajectory of over 20% starting in 2026, driven by new product introductions and market expansion [28] Market Dynamics and Competitive Landscape - The company has a strong position in the hypertension market, with a significant patient population and a well-established product line [6][7] - The competitive landscape is challenging, with many companies vying for market share in chronic disease medications, but the company believes its innovative products will maintain a competitive edge [8][9] - The company is not significantly affected by competitors' failures in similar therapeutic areas, as its products are distinct and have established efficacy [10][22] Innovation and Future Outlook - The company is focusing on innovative drug development, including small molecules and gene editing technologies, to enhance its product offerings [5] - There is a strong emphasis on research and development, with plans to introduce several new products in the coming years [5][17] - The company is also exploring international markets for potential product licensing and partnerships, indicating a strategic approach to global expansion [17] Regulatory and Pricing Strategies - The company is actively engaging with regulatory bodies to ensure compliance and facilitate product approvals [15][19] - Pricing strategies are being carefully considered, with a focus on maintaining competitive pricing while ensuring profitability [13][14] Additional Important Insights - The company is aware of the complexities in the chronic disease medication market, including patient adherence and physician preferences, which will influence product uptake [24] - There is a recognition of the need for ongoing education and marketing efforts to promote new products effectively [22][24] - The company is committed to maintaining a strong cash flow to support ongoing research and development initiatives [8][27]

证券代码：002294 证券简称：信立泰 编号：2024-052 深圳信立泰药业股份有限公司 关于阿利沙坦酯氨氯地平片（复立坦®）、 苯甲酸福格列汀片（信立汀） 新纳入国家医保目录的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 根据国家医保局、人力资源社会保障部发布的《关于印发<国家基本医疗保 险、工伤保险和生育保险药品目录（2024 年）>的通知》（医保发〔2024〕33 号） （下称"《通知》"），深圳信立泰药业股份有限公司（下称"公司"）的创新 药复立坦®（通用名：阿利沙坦酯氨氯地平片）、信立汀（通用名：苯甲酸福格 列汀片），通过谈判新纳入《国家基本医疗保险、工伤保险和生育保险药品目录 （2024 年）》（下称"医保目录"）乙类范围。 具体情况如下： 一、产品情况 （一） 复立坦® 1、 基本情况 药品名称：阿利沙坦酯氨氯地平片 规格：每片含阿利沙坦酯 240mg 与苯磺酸氨氯地平（按氨氯地平计）5mg 医保类别：医保乙类 备注：限原发性高血压。 协议有效期：2025 年 1 月 1 日至 2026 年 12 月 31 日。 （二） 信立汀 1、 ...

普瑞基准科技（北京）有限公司增资的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 一、交易概述 （一） 基本情况 根据公司战略发展规划，深圳信立泰药业股份有限公司（下称"公司"或"信 立泰"）拟以自筹资金人民币 3,000 万元增资参股公司普瑞基准科技（北京）有 限公司（下称"普瑞基准"或"标的公司"），获得普瑞基准 3.2154%股权。本 次增资完成后，公司将直接持有普瑞基准 8.5745%股权。 增资前，公司及下属控股企业宁波梅山保税港区沃生静嘉股权投资合伙企业 （有限合伙）（下称"沃生静嘉"）、下属参股企业"平潭综合实验区沃生慧嘉 股权投资合伙企业（有限合伙）"（下称"沃生慧嘉"）分别持有普瑞基准 5.5556%、 3.8332%、2.3666%股权。 （二） 董事会审议情况 证券代码：002294 证券简称：信立泰 编号：2024-051 深圳信立泰药业股份有限公司 关于向参股公司 《关于向参股公司普瑞基准科技（北京）有限公司增资的议案》已经公司第 六届董事会第六次会议以 9 人同意，0 人反对，0 人弃权审议通过。 （三） 所必需的审批程序 本 ...

深圳信立泰药业股份有限公司 第六届董事会第六次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 证券代码：002294 证券简称：信立泰 编号：2024-050 根据公司战略发展规划，同意公司以自筹资金人民币 3,000 万元增资参股公 司普瑞基准科技（北京）有限公司（下称"普瑞基准"），获得普瑞基准 3.2154% 股权。本次增资完成后，公司将直接持有普瑞基准 8.5745%股权。 董事会授权公司管理层负责签署本次交易有关协议及具体履行协议的相关 事宜，授权期限至相关事宜全部办理完毕止。 （《关于向参股公司普瑞基准科技（北京）有限公司增资的公告》详见信息 披露媒体：《中国证券报》、《证券时报》和巨潮资讯网 www.cninfo.com.cn。） 备查文件 1、 经与会董事签字并加盖董事会印章的董事会决议； 特此公告 深圳信立泰药业股份有限公司 董事会 深圳信立泰药业股份有限公司（下称"公司"）第六届董事会第六次会议于 2024 年 11 月 21 日上午 9 时 30 分，以通讯及书面方式召开，会议通知于 2024 年 11 月 18 日以电子邮 ...

证券代码：002294 证券简称：信立泰 编号：2024-049 深圳信立泰药业股份有限公司 关于使用部分闲置募集资金现金管理的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 深圳信立泰药业股份有限公司（下称"公司"或"信立泰"）于 2024 年 3 月 24 日召开第六届董事会第二次会议，审议通过《关于使用部分闲置募集资金现 金管理的议案》，同意公司使用不超过人民币 10 亿元（含本数）的闲置募集资 金进行现金管理（在上述额度内，资金可循环滚动使用），相关额度的使用期限 不超过 12 个月，期限内任一时点的交易金额不应超过现金管理额度；并授权经 营管理层负责具体实施相关事宜，授权期限为本次董事会审议通过之日起一年内 有效。 | 委托方 | 受托方 | 关联 | 产品 | 购买金额 | 起息日 | 产品期限 | 实际最晚 | 进展 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 关系 | 类型 | （万元） | | | 转让日期 | 情况 | | | | | | | | ...

Investment Rating - The report maintains a "Recommend" rating for the company with a target price of 41.3 RMB, compared to the current price of 32.4 RMB [1] Core Views - The company's Q1-3 2024 revenue reached 3.001 billion RMB, a 22.18% YoY increase, with net profit attributable to shareholders at 510 million RMB, up 6.37% YoY [1] - Q3 2024 revenue was 958 million RMB, a 24.15% YoY increase, with net profit attributable to shareholders at 166 million RMB, up 17.01% YoY [1] - The company's performance driver has shifted to innovative drugs, with Xinlitan maintaining strong growth and Enadustat entering the early stage of medical insurance-driven volume growth [1] - The company's R&D pipeline is progressing steadily, with SAL0107 and Foglitin expected to accelerate volume growth if successfully included in the medical insurance list [1] Financial Performance - The company's 2024-2026 net profit attributable to shareholders is forecasted to be 638 million RMB, 708 million RMB, and 879 million RMB, representing YoY growth of 10.0%, 10.9%, and 24.2% respectively [1] - The company's 2025 reasonable valuation is estimated at 46 billion RMB, with innovative drugs accounting for 39.6 billion RMB of the valuation [1] - The company's 2024E revenue is projected to be 4.019 billion RMB, a 19.4% YoY increase, with net profit attributable to shareholders at 638 million RMB, up 10.0% YoY [2] R&D Pipeline - SAL0108 and S086 for hypertension are expected to be approved in H2 2024-H1 2025 and participate in the 2025 medical insurance negotiation [1] - S086 for heart failure is currently in Phase III clinical enrollment, while SAL003 has completed Phase III patient enrollment and is expected to apply for production approval in H2 2025 [1] - JK07 is expected to read out Phase II data by the end of 2024, with SAL0114, SAL0112, and JK08 progressing in clinical trials [1] Valuation Metrics - The company's 2025E P/E ratio is 52x, with a P/B ratio of 5x and EV/EBITDA of 36x [2] - The company's 2025E ROE is projected to be 8.6%, with ROIC at 13.9% [5]

Group 1: Product Development and Market Position - The company has established a dedicated sales team for the promotion of Ennarro, with over 700 access points through DTP pharmacies, related pharmacies, and direct procurement channels [1] - Ennarro is positioned as a second-generation HIF-PH inhibitor, offering improved safety and dosing convenience compared to existing competitors [3] - The S086 product for hypertension is currently under review, with expectations for approval in early 2025 [2] Group 2: Clinical Trials and Research Progress - JK07 is undergoing Phase II clinical trials in multiple countries, with initial patient dosing completed in the US and China [2] - The company anticipates maintaining a significant level of R&D investment as clinical projects progress into Phase II and III [4] - The SAL003 monoclonal antibody has completed Phase III enrollment and is expected to submit an NDA around July-August 2025 [4] Group 3: Future Product Pipeline - The company plans to advance 6-7 projects into preclinical research and 3-4 projects into clinical trials by early next month [4] - New products targeting chronic diseases, such as hypertension and chronic heart failure, are in development, with a focus on improving patient compliance [3] - The company is also exploring innovative drug delivery methods, including a small nucleic acid product for biannual dosing [2]

Investment Rating - The report maintains a "Buy" rating for the company [3] Core Views - The company's performance meets expectations, with sales of innovative products gradually improving. The revenue for Q1-Q3 2024 reached 3.001 billion yuan, a year-on-year increase of 22.18%, while the net profit attributable to shareholders was 510 million yuan, up 6.37% year-on-year [1] - The sales revenue for Q3 2024 was 958 million yuan, reflecting a year-on-year growth of 24.15%, and the net profit attributable to shareholders increased by 17.01% year-on-year [1] - The company plans to invest 50 million USD in Salubris Bio, indicating a strategic move to enhance its product offerings [1] Financial Performance - For Q1-Q3 2024, the sales expense ratio was 36.64%, an increase of 7.51 percentage points year-on-year, with total sales expenses amounting to 1.1 billion yuan, up 53.65% year-on-year [1] - The R&D expense ratio was 10.21%, a slight decrease of 0.22 percentage points year-on-year, with absolute R&D expenses of 306 million yuan, up 19.59% year-on-year [1] - The net cash flow from operating activities was 535 million yuan, an increase of 59.63% year-on-year [1] Product Development - The company has a well-structured pipeline for chronic disease products, with several projects in Phase III clinical trials progressing smoothly. The innovative product revenue and profit contributions are continuously increasing [1] - The company is focusing on chronic disease medications, which are expected to create a long-term growth trend as products receive approval [1] Profit Forecast and Valuation - The forecasted net profits for 2024-2026 are 631 million yuan, 734 million yuan, and 907 million yuan, with year-on-year growth rates of 8.8%, 16.2%, and 23.6% respectively. The corresponding P/E ratios are projected to be 58x, 50x, and 40x [1][2]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company reported a revenue of 3 billion CNY in Q3 2024, representing a year-on-year increase of 22.18%, and a net profit attributable to shareholders of 510 million CNY, up 6.37% year-on-year [1] - The company is expected to see significant growth in the future, particularly with the promotion of its product Enalapril within the medical insurance framework [1] - The company has made substantial progress in commercializing and gaining access for its products, with a focus on innovative drug development [1][2] Summary by Sections Financial Performance - In Q3 2024, the company achieved a revenue of 958 million CNY, a year-on-year increase of 24.15%, and a net profit of 166 million CNY, up 17.01% year-on-year [1] - The gross profit margin for the first three quarters was 72.07%, an increase of 4 percentage points year-on-year, while the expense ratio was 52.65%, up 6.55 percentage points year-on-year [1] - The operating cash flow for the period was 854 million CNY, reflecting a significant year-on-year increase of 59.63% [1] Revenue and Profit Forecast - Revenue projections for 2024, 2025, and 2026 are 4.05 billion CNY, 4.73 billion CNY, and 5.69 billion CNY, respectively, with year-on-year growth rates of 20.2%, 16.8%, and 20.5% [2] - Net profit attributable to shareholders is forecasted to be 631 million CNY, 680 million CNY, and 814 million CNY for the same years, with growth rates of 8.9%, 7.6%, and 19.8% [2] Product Development and Market Strategy - The company is actively promoting its products and investing in innovative research and development, with a focus on cardiovascular specialties [1][2] - The product pipeline includes several drugs in various stages of clinical trials, indicating a robust future growth potential [1][2]