证券代码：002332 证券简称：仙琚制药 公告编号：2024-051 浙江仙琚制药股份有限公司 关于拟变更会计师事务所的公告 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。 特别提示： 1．拟聘任的会计师事务所名称：立信会计师事务所（特殊普通合伙）（以 下简称"立信所"）。 2．原聘任的会计师事务所名称：天健会计师事务所（特殊普通合伙）（以 下简称"天健所"）。 3．拟变更会计师事务所的原因：根据财政部、国务院国资委、证监会印发 的《国有企业、上市公司选聘会计师事务所管理办法》（财会〔2023〕4 号）（以 下简称《管理办法》）相关规定，鉴于天健所已连续多年为浙江仙琚制药股份有 限公司（以下简称"公司""仙琚制药"）提供审计服务，为保证公司审计工作 的独立性和客观性，综合考虑公司业务发展和审计工作需求等情况，公司拟对 2025 年年度审计机构进行选聘，经公开招标并根据评标结果，立信所为中标单 位，其具备为公司提供审计服务的能力与经验，能够满足公司审计工作的要求， 故拟聘任立信会计师事务所（特殊普通合伙）为公司 2025 年年度财务会计报告 和内部控制的审计机 ...

证券代码：002332 证券简称：仙琚制药 公告编号：2024-046 浙江仙琚制药股份有限公司 关于公司产品拟中选第十批全国药品集中采购的公告 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。 浙江仙琚制药股份有限公司（以下简称"公司"）于2024年12月12日参加了 国家组织药品联合采购办公室（以下简称"联采办"）组织的第十批全国药品集 中采购的投标工作。公司产品舒更葡糖纳注射液、甲硫酸新斯的明注射液拟中选 本次集中采购。现将相关情况公告如下： 药品 名称 适应症 规格 拟中选 价格 （元/支） 拟中选 数量 （万支） 拟主供 省市 舒更葡糖 纳注射液 麻醉拮抗剂，主要用于拮抗 由罗库溴铵或维库溴铵诱导 的神经肌肉阻滞。 2ml:200mg 9.47 10.14 广东 湖南 吉林 西藏 甲硫酸新 斯的明注 射液 抗胆碱酯酶药，用于手术结 束时拮抗非去极化肌肉松弛 药的残留肌松作用，用于重 症肌无力，手术后功能性肠 胀气及尿潴留等。 1ml：0.5mg 0.78 193.66 浙江 北京 安徽 吉林 宁夏 一、 拟中选产品基本情况 公司上述拟中选的舒更葡糖纳注 ...

Investment Rating - Strong Buy (Maintained) with a target price of 17 CNY, current price at 12.70 CNY [1] Core Views - The company's Q3 2024 performance met market expectations, with revenue of 3.237 billion CNY (-0.01% YoY) and net profit attributable to shareholders of 530 million CNY (+12.42% YoY) [1] - The company's slow but steady growth potential is promising, driven by its transition from generic drugs to high-end and innovative drugs [2] Business Segments Formulation Business - Formulation revenue reached 1.93 billion CNY (+8.3% YoY) in the first three quarters of 2024, with significant growth in respiratory (615 million CNY, +32% YoY) and dermatology (188 million CNY, +20% YoY) segments [2] - The company expects to file and receive approval for 4-5 new products annually over the next three years, marking a shift towards high-end and innovative drug development [2] - The first formulation product, Prednisolone Tablets, was approved by the US FDA in May 2024, opening new opportunities for international expansion [2] API Business - API revenue was 1.3 billion CNY (-10% YoY) in the first three quarters of 2024, primarily due to inventory adjustments by downstream customers and reduced trade business [2] - With the stabilization of inventory levels and the upgrade of sterile APIs, the API business is expected to achieve double-digit growth in 2025 [2] Financial Forecast - The company's net profit attributable to shareholders is forecasted to be 683 million CNY (+21.4% YoY) in 2024, 848 million CNY (+24.1% YoY) in 2025, and 1.06 billion CNY (+25.0% YoY) in 2026 [3] - EPS is projected to be 0.69 CNY in 2024, 0.86 CNY in 2025, and 1.07 CNY in 2026, with a P/E ratio of 18x, 15x, and 12x respectively [3] - The company's revenue is expected to grow by 3.3% in 2024, 15.7% in 2025, and 16.0% in 2026, driven by both formulation and API businesses [3] Valuation - The company's valuation is supported by its strong growth prospects and the high barriers to entry in the steroid hormone market [3] - A target P/E ratio of 20x for 2025 is applied, resulting in a target price of 17 CNY [3]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1][3]. Core Insights - The company's performance is in line with expectations, showing a continuous improvement trend. The revenue for Q3 2024 was 1.099 billion yuan, a year-on-year decrease of 1.80%, while the net profit attributable to the parent company was 190 million yuan, an increase of 12.17% year-on-year [2][3]. - The company is expected to maintain a positive growth trajectory into 2025, driven by the release of new products and a recovery in demand for its raw materials [2][3]. - The company is positioned as a leading integrated player in the steroid hormone sector, with risks from centralized procurement gradually alleviating and new product launches anticipated [3][12]. Financial Performance Summary - **Revenue Forecast**: The company is projected to achieve revenues of 4.304 billion yuan in 2024, 4.784 billion yuan in 2025, and 5.454 billion yuan in 2026, reflecting year-on-year growth rates of 4.38%, 11.15%, and 14.01% respectively [1][3]. - **Net Profit Forecast**: The net profit attributable to the parent company is expected to be 678 million yuan in 2024, 821 million yuan in 2025, and 1.006 billion yuan in 2026, with growth rates of 20.49%, 21.05%, and 22.47% respectively [1][3]. - **Earnings Per Share (EPS)**: The EPS is projected to be 0.69 yuan in 2024, 0.83 yuan in 2025, and 1.02 yuan in 2026 [1][3]. - **Valuation Ratios**: The price-to-earnings (P/E) ratio is expected to decrease from 19.94 in 2024 to 11.16 in 2026, while the price-to-book (P/B) ratio is projected to decline from 1.94 to 1.49 over the same period [1][3]. Business Segment Performance - **Formulations**: The core product, mometasone furoate nasal spray, is experiencing rapid growth, and new products are being launched successfully [2][3]. - **Active Pharmaceutical Ingredients (APIs)**: The company is focusing on stabilizing prices and expanding into high-end markets for its APIs, with expectations of demand recovery [2][3]. - **Research and Development**: The company is increasing its R&D investment, which is expected to enhance its product pipeline and support future growth [2][3].

Financial Performance - In the first three quarters of 2024, the company achieved operating revenue of 32.37 billion CNY, maintaining the same level as the previous year [2] - Net profit attributable to shareholders was 12.42% with a non-recurring net profit of 5.21 billion CNY, representing a year-on-year growth of 12.82% [2] - In Q3 2024, the company reported operating revenue of 10.99 billion CNY, a year-on-year increase of 12.17% [2] - Gross margin for the first three quarters was 55%, up from 51.3% in the same period last year, indicating an increase of approximately 3.7% [2] Expense Management - Selling expenses for the first three quarters were stable at 22% compared to the previous year [2] - Research and development expenses amounted to 450 million CNY, with a research expense ratio of 7%, an increase of approximately 1.4 percentage points year-on-year [2] Product Performance - The company’s formulation revenue for Q3 was approximately 19.3 billion CNY, reflecting an 8% year-on-year growth, driven by increases in anesthetic muscle relaxants and respiratory products [2] - Sales of gynecological and women's health products reached approximately 3.4 billion CNY, maintaining the same level as the previous year [3] - Anesthetic muscle relaxants generated about 1 billion CNY in sales, a year-on-year increase of approximately 20% [3] - Respiratory products achieved sales of approximately 6.15 billion CNY, with a year-on-year growth of about 32% [3] - Sales of dermatological products reached approximately 1.88 billion CNY, reflecting a year-on-year increase of about 20% [3] New Product Development - The company is actively developing new products, including the long-acting progesterone injection and inhalation formulations, with expected submissions for approval in 2025 [5][6] - The company has launched several new products, including the new formulation of progesterone, which is expected to complete clinical trials by Q4 2024 [5][6] Market Strategy - The company is focusing on international expansion and innovation as key development directions, aiming to enhance product registration capabilities and quality [6] - Collaboration with Newchem has been established for 11 products, enhancing competitiveness in the international market [6]

Investment Rating - Maintains "Overweight" rating with a target price of 15.18 RMB [3][4] Core Views - Revenue for Q1-Q3 2024 was 3.237 billion RMB, a slight decrease of 0.01% YoY, while net profit attributable to shareholders increased by 12.42% to 530 million RMB [3] - Q3 2024 revenue was 1.099 billion RMB, down 1.80% YoY, with net profit attributable to shareholders rising 12.17% to 190 million RMB, meeting expectations [3] - EPS forecasts for 2024-2026 remain at 0.69/0.85/1.04 RMB [3] - Profitability improved with Q1-Q3 2024 gross margin rising to 54.63%, up 3.38 percentage points YoY, and Q3 gross margin at 54.22%, up 3.79 percentage points YoY [3] - The impact of centralized procurement on the formulation sector is gradually diminishing, with the sector growing 10.6% YoY in H1 2024 [3] - New products are expected to drive growth, with gynecological and family planning products expected to turn positive in Q3, and anesthesia and muscle relaxant products maintaining growth [3] Financial Performance - 2024E revenue is projected at 4.345 billion RMB, a 5.4% increase YoY, with net profit attributable to shareholders expected to rise 21.0% to 681 million RMB [8] - 2025E revenue is forecasted at 5.008 billion RMB, a 15.2% increase YoY, with net profit attributable to shareholders expected to grow 22.8% to 837 million RMB [8] - 2026E revenue is projected at 5.799 billion RMB, a 15.8% increase YoY, with net profit attributable to shareholders expected to rise 23.5% to 1.033 billion RMB [8] - ROE is expected to improve from 9.7% in 2023A to 14.8% in 2026E [8] Market and Valuation - Current stock price is 12.70 RMB, with a 52-week range of 8.87-13.78 RMB [5] - Market capitalization stands at 12.563 billion RMB [5] - P/E ratio for 2024E is 18.43, decreasing to 12.16 by 2026E [8] - P/B ratio is currently 2.1, with a net debt ratio of -19.73% [6] Product and Market Developments - Overseas API subsidiary Newchem faced revenue pressure due to customer destocking and exchange rate impacts, but growth is expected to resume as destocking nears completion [3] - The company has made progress in regulatory markets, with approvals from FDA, ANVISA, and PMDA, and WHO PQ certification for certain products [3] - A new innovative drug, Omecamtiv Mecarbil Sodium, was submitted to NMPA for approval in August 2024, expected to enhance the anesthesia and muscle relaxant product line [3] Industry and Growth Catalysts - The pharmaceutical industry is expected to benefit from faster drug approval processes and stronger-than-expected product sales [3] - Long-term growth is supported by the gradual resolution of centralized procurement impacts and the introduction of new products [3]

浙江仙琚制药股份有限公司（以下简称"公司"）第八届监事会第七次会议 通知已于 2024 年 10 月 18 日以电子邮件方式向公司全体监事发出，会议于 2024 年 10 月 25 日上午以通讯方式召开。本次会议应参加监事 7 名，实际参加监事 7 名，会议由公司监事会主席吴天飞先生召集并主持。本次会议的召集、召开符合 《中华人民共和国公司法》和《公司章程》的有关规定。全体与会监事以记名投 票方式通过以下决议： 会议以 7 票同意，0 票弃权，0 票反对，审议通过了《公司 2024 年第三季度 报告》。 经审核，监事会认为：公司董事会编制和审核的《公司 2024 年第三季度报 告》程序符合法律、行政法规和中国证监会的规定；报告内容真实、准确、完整 地反映了上市公司的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 特此公告。 浙江仙琚制药股份有限公司 监事会 证券代码：002332 证券简称：仙琚制药 公告编号：2024-044 浙江仙琚制药股份有限公司 第八届监事会第七次会议决议公告 本公司及监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。 2024 年 10 ...

浙江仙琚制药股份有限公司 证券代码：002332 证券简称：仙琚制药 公告编号：2024-043 特此公告。 浙江仙琚制药股份有限公司 董事会 2024 年 10 月 26 日 第八届董事会第十一次会议决议公告 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。 浙江仙琚制药股份有限公司（以下简称"公司"）第八届董事会第十一次会 议通知已于2024年10月18日以电子邮件方式向公司全体董事发出，会议于2024 年 10 月 25 日上午以通讯方式召开。本次会议应参加董事 9 名，实际参加董事 9 名，会议由公司董事长张宇松先生召集并主持。本次会议的召集、召开符合《中 华人民共和国公司法》和《公司章程》的有关规定。全体与会董事以记名投票方 式通过以下决议： 会议以 9 票同意，0 票弃权，0 票反对，审议通过了《公司 2024 年第三季度 报告》。 ...

Financial Performance - The company's revenue for Q3 2024 was ¥1,099,159,748.99, a decrease of 1.80% compared to the same period last year[2] - Net profit attributable to shareholders for Q3 2024 was ¥190,458,380.68, an increase of 12.17% year-over-year[2] - The net profit after deducting non-recurring gains and losses was ¥189,686,609.85, reflecting a 14.68% increase compared to the previous year[2] - Basic earnings per share for Q3 2024 was ¥0.1925, up 12.20% from the same period last year[2] - Total operating revenue for the third quarter was CNY 3,237,007,358.82, slightly down from CNY 3,237,459,693.20 in the previous year, representing a decrease of 0.01%[12] - The net profit for the third quarter of 2024 was CNY 542,697,542.20, an increase of 14.9% compared to CNY 471,952,130.64 in the same period last year[13] - The total profit for the quarter was CNY 627,710,393.41, an increase of 15.6% from CNY 543,288,658.99 in the same period last year[13] Assets and Liabilities - Total assets at the end of the reporting period were ¥6,907,740,160.80, a decrease of 1.22% from the end of the previous year[2] - The company's equity attributable to shareholders increased by 3.94% to ¥6,014,143,118.38 compared to the end of the previous year[2] - The company's total assets amounted to CNY 6,907,740,160.80, compared to CNY 6,992,835,052.50 in the previous period, indicating a decrease of approximately 1.22%[11] - Total liabilities decreased to CNY 839,155,775.33 from CNY 1,162,789,279.07, a significant reduction of about 27.8%[11] Cash Flow - Cash flow from operating activities decreased by 55.55% to ¥217,426,077.84, mainly due to reduced cash received from sales[5] - The net cash flow from operating activities decreased to CNY 217,426,077.84, compared to CNY 489,132,192.50 in the same period last year, reflecting a decline of 55.6%[15] - The company experienced a net cash outflow from investing activities of CNY 141,975,100.62, compared to a net outflow of CNY 110,738,559.67 in the same period last year[16] - The net cash outflow from financing activities was CNY 415,007,804.20, compared to CNY 396,759,794.01 in the previous year, indicating an increase in cash outflow[16] Shareholder Information - The total number of common shareholders at the end of the reporting period is 23,944[6] - The largest shareholder, Xianju County Industrial Investment Development Group Co., Ltd., holds 21.55% of the shares, totaling 213,221,808 shares[7] Research and Development - Research and development expenses increased by 32.46% to ¥45,272,700, primarily due to increased R&D investment[5] - Research and development expenses increased to CNY 184,732,549.63, up from CNY 139,459,816.96, reflecting a growth of about 32.4%[12] Inventory and Receivables - Accounts receivable increased from 551,695,395.67 RMB to 674,710,064.93 RMB, representing a growth of about 22.3%[9] - Inventory decreased from 922,877,229.59 RMB to 894,870,127.93 RMB, a reduction of approximately 3%[9] Future Outlook - Future outlook includes plans for market expansion and potential new product launches, aiming to enhance competitive positioning in the pharmaceutical sector[12] - The company is focusing on strategic acquisitions to bolster its market presence and diversify its product offerings[12] Other Information - The company has ongoing construction projects with a value of 717,993,266.13 RMB, up from 522,168,092.07 RMB, indicating an increase of approximately 37.5%[9] - The company has not reported any new product launches or technological developments in this quarter[8] - There are no significant mergers or acquisitions reported during this period[8] - The company reported a decrease in other comprehensive income, with a net amount of CNY -5,397,470.36 compared to CNY 25,335,128.82 in the previous year[13] - The company reported a total comprehensive income of CNY 537,300,071.84 for the quarter, compared to CNY 497,287,259.46 in the previous year, representing an increase of 8.1%[13]

证券代码：002332 证券简称：仙琚制药 公告编号：2024-042 浙江仙琚制药股份有限公司 关于甲磺酸倍他司汀片药品注册申请获得受理的公告 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。 浙江仙琚制药股份有限公司（以下简称"公司"）于近日收到国家药品监督 管理局下发的甲磺酸倍他司汀片境内生产药品注册受理通知书，现将相关情况公 告如下： 二、甲磺酸倍他司汀片的相关情况 甲磺酸倍他司汀片，规格为 6mg，参比制剂为原研的上市药品，其持证商为 卫材（中国）药业有限公司，其英文名/商品名为 Betahistine Mesilate Tablets/ 敏使朗。甲磺酸倍他司汀片最早由日本 Eisai Co., Ltd.研发，商品名为 Merislon®。 适应症为用于下列疾病伴发的眩晕、头晕感：梅尼埃病、梅尼埃综合征、眩晕症。 本次公司申报的甲磺酸倍他司汀片规格与参比制剂上市的规格一致，按化学 药品 4 类进行申报。 三、对公司的影响及风险提示 甲磺酸倍他司汀片被国家药品监督管理局受理，标志着该品种境内生产药品 注册工作进入了审评阶段，公司将积极推进后续相关工作，如 ...