4、本次股东大会以现场与网络投票相结合的方式召开。 一、会议召开和出席情况 华润博雅生物制药集团股份有限公司(以下简称公司)2024 年年度股东大会 通知已于 2025 年 3 月 19 日在中国证券监督管理委员会指定信息披露网站巨潮资 讯网（www.cninfo.com.cn）以公告方式发出。会议于 2025 年 4 月 10 日在江西省 抚州市高新技术产业开发区惠泉路 333 号公司会议室以现场与网络投票相结合 的方式召开。本次股东大会由公司董事会召集，董事长邱凯先生主持。公司董事、 监事出席了本次会议，高级管理人员列席了本次会议，公司聘请的律师对本次会 议进行了见证。 本次股东大会网络投票时间：通过深圳证券交易所交易系统进行网络投票的 时间为 2025 年 4 月 10 日上午 9:15-9:25，9:30-11:30，下午 13:00-15:00；通过互 联网投票系统投票的时间为 2025 年 4 月 10 日上午 9:15-下午 15:00 期间的任意 时间。 证券代码：300294 证券简称：博雅生物 公告编号：2025-023 华润博雅生物制药集团股份有限公司 2024 年年度股东大会决议公告 ...

证券代码：300294 证券简称：博雅生物 公告编号：2025-022 华润博雅生物制药集团股份有限公司 关于控股股东增持计划实施进展的公告 公司控股股东华润医药控股有限公司保证向本公司提供的信息内容真实、 准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一 致。 特别提示： 1、华润博雅生物制药集团股份有限公司（以下简称公司或博雅生物）于 2024 年 12 月 18 日在巨潮资讯网上披露了《关于控股股东增持公司股份达到 1% 暨后续增持计划的公告》，公司控股股东华润医药控股有限公司（以下简称控股 股东或华润医药控股）自 2024 年 11 月 8 日起 6 个月内拟通过证券法规允许的方 式增持公司股份，总增持股份数量不低于总股本的 1%（即 504.24 万股），且不 超过总股本的 1.2%（即 605.09 万股）。本次增持不设定价格区间，将根据市场 整体变化趋势和公司股票交易价格的波动情况，择机实施增持计划。 2、截至本公告披露日，华润医药控股通过深圳证券交易所证券交易系统集 中竞价交易方式累计增持公司股份 5,899,700 股，占公司总 ...

华润博雅生物投资者关系活动记录表 证券代码：300294 证券简称：博雅生物 华润博雅生物制药集团股份有限公司投资者关系活动记录表 编号：20250324 | | □特定对象调研 分析师会议 | | | --- | --- | --- | | | □媒体采访 □业绩说明会 | | | 投资者关系活 | □新闻发布会 □路演活动 | | | 动类别 | □现场参观  电话会议 | | | | □其他 | | | 参与单位名称 | 见附件 | | | 及人员姓名 | | | | 2025 时间 | 年 3 月 24 日（星期一）上午 10:00-11:00 | | | 地点 | 不适用 | | | 上市公司接待 | 总裁：梁小明 | | | 人员姓名 | 副总裁、财务总监、董事会秘书：梁化成 | | | | 本次互动交流的情况主要如下： | | | | 一、基本情况介绍 | | | | 公司总裁梁小明先生就 2024 年年度经营情况作基本介绍： | | | | 2024 年，公司聚焦血液制品主责主业，按照"1236"总体 | | | | 经营规划，坚持一个定位、做大两头驱动、做强三个提升，做实 | | | | ...

华润博雅生物投资者关系活动记录表 证券代码：300294 证券简称：博雅生物 华润博雅生物制药集团股份有限公司投资者关系活动记录表 编号：20250321 | | □特定对象调研 分析师会议 | | --- | --- | | 投资者关系活 | □媒体采访  业绩说明会 | | | □新闻发布会 □路演活动 | | 动类别 | □现场参观 电话会议 | | | 其他 | | 参与单位名称 | 线上参加深圳证券交易所"互动易"平台"云访谈"的投资者 | | 及人员姓名 | | | 时间 | 2025 年 3 月 21 日（星期五）下午 15:00-17:00 | | 地点 | 不适用 | | | 总裁：梁小明 | | 上市公司接待 | 副总裁、财务总监、董事会秘书：梁化成 | | 人员姓名 | 独立董事：章卫东 | | | 本次互动交流的情况主要如下： | | | 1、新百药业、博雅欣和的剥离是否已有时间表？ | | | 公司已确定聚焦血液制品的发展战略，努力成为世界级血液 | | | 制品企业，对于非血液制品业务将适时进行处置或剥离。公司将 | | | 及时履行信息披露义务。 | | 投资者关系活 | ...

证券研究报告 医药生物 | 生物制品 非金融|公司点评报告 hyzqdatemark 2025 年 03 月 24 日 证券分析师 刘闯 SAC：S1350524030002 liuchuang@huayuanstock.com 李强 SAC：S1350524040001 liqiang01@huayuanstock.com 市场表现： | 基本数据 | 21 | | 2025 | 年 | 03 | 月 | 日 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 收盘价（元） | | | | | | 27.52 | | | | | 一 年 内 高 / 低 | | 最 | | | | 41.98/26.68 | | | 最 | | （元） | | | | | | | | | | | 总市值（百万元） | | | | | | 13,876.93 | | | | | 流通市值（百万元） | | | | | | 13,876.93 | | | | | 总股本（百万股） | | | | | | 504.25 | | | | | 资产 ...

博雅生物在 2024 年的总体经营情况如何？ 2024 年，博雅生物聚焦血液制品主业，按照"1,236"的总体经营规划，坚持 一个定位，做大两头驱动，做强三个提升，实现 16 项多维驱动。公司合并报表 收入为 17.35 亿元，同比有所下降，这主要是由于剥离天安药业和复旦药业的 影响。然而，血液制品业务依然稳健，实现收入 15.14 亿元，同比增长 4.32%。 凝血酶原复合物和八因子的销售额增长显著。整体经营利润达到 3.97 亿元，同 比增长 67.18%，主要得益于去年同期计提商业减值导致的基数较小，公司经营 质量持续提升。平均净资产收益率增加 2.08 个百分点至 5.36%，总资产 84 亿 博雅生物 20250324 摘要 Q&A • 博雅生物 2024 年营收同比下降，主要受剥离业务影响，但血液制品业务稳 健增长 4.32%，凝血酶原复合物和八因子销售额显著提升，经营利润大幅 增长 67.18%，净资产收益率增至 5.36%。 • 公司通过收购劳氏至香港股权，新增生产许可证和四个浆站，浆站总数增 至 21 个，覆盖七省，全年采浆 630.6 吨，同比增长 10.4%，华润博雅生物 本部采浆增长 ...

Investment Rating - The report maintains a "Buy" rating for the company [5]. Core Insights - The company achieved a revenue of 1.735 billion yuan in 2024, a decrease of 34.58% year-on-year, while the net profit attributable to shareholders was 397 million yuan, an increase of 67.18% year-on-year [1]. - The blood products business generated a revenue of 1.514 billion yuan, accounting for 87.29% of total revenue, with a year-on-year increase of 4.32% [1]. - The company has 20 plasma collection stations and one under construction, with a total plasma collection volume of 630.6 tons in 2024, representing a year-on-year growth of 10.4% [1]. - Several research projects are progressing well, with expectations for new product approvals in 2025 and 2027, enhancing the product pipeline and core competitiveness in the blood products sector [2]. - The company is solidifying its market position in China, particularly in the fibrinogen market, and has achieved significant sales targets in various product categories [2]. Financial Summary - The projected net profits for 2025, 2026, and 2027 are 547 million yuan, 606 million yuan, and 675 million yuan, respectively, with year-on-year growth rates of 37.81%, 10.80%, and 11.33% [3]. - The earnings per share (EPS) are estimated to be 1.08 yuan, 1.20 yuan, and 1.34 yuan for 2025, 2026, and 2027, respectively, with corresponding price-to-earnings (P/E) ratios of 26, 23, and 21 [3][4]. - The company’s revenue is expected to recover to 1.958 billion yuan in 2025, with a growth rate of 12.87% [4]. Market Position and Brand Development - The company has successfully enhanced its brand influence and market coverage through academic conferences and marketing strategies [2]. - The company continues to lead in the fibrinogen market and has achieved a third-place market share in the PCC category [2].

要点 事件：公司发布 2024 年年报，实现营收 17.35 亿元（同比-34.58%），归母净 利润 3.97 亿元（同比+67.18%），扣非归母净利润 3.02 亿元（同比+110.77%）。 点评： 聚焦血液制品主业，业务表现稳健。2024 年，公司血液制品业务实现营收 15.14 亿元，占总营收 87.29%，同比增加 4.32%，公司聚焦血制品主业，整体实现稳 健发展。静注人免疫球蛋白、人血白蛋白、人纤维蛋白原分别实现营收 3.91 亿 元（-12%）、4.03 亿元（-7.94%）、4.08 亿元(-2.65%)。公司深化业务精细化 管理，拓展市场，不断夯实并增强在血液制品领域的市场竞争力。截至 2024 年 年报，公司在营浆站 20 个，在建浆站 1 个，合计 21 个。2024 年公司采浆量为 630.6 吨，同比增长 10.4%，其中华润博雅生物采浆量 522.04 吨，同比增长 11.7%，超行业平均增速，筑牢业绩增长根基。 2025 年 3 月 20 日 公司研究 采浆量保持较快增长，血制品主业稳健发展 ——博雅生物（300294.SZ）2024 年年报点评 在研项目进展顺利，产品不断 ...

Investment Rating - The report maintains a "Buy" rating for the company [4] Core Views - The company reported a revenue of 1.735 billion RMB in 2024, a decrease of 34.58% year-on-year, while achieving a net profit attributable to shareholders of 397 million RMB, an increase of 67.18% year-on-year [1] - The blood products business showed resilience, with a revenue of 1.514 billion RMB, a year-on-year growth of 4.32%, and other blood products revenue grew significantly by 108.20% [2] - The company has made significant progress in plasma collection, achieving 630.6 tons in 2024, a 10.4% increase year-on-year, and expanded its plasma collection stations to 21 [2] - The company is increasing its R&D investment, with several products in various stages of development, including IVIG and C1 esterase inhibitor [3] - Profit forecasts for 2025-2027 are adjusted to 560 million RMB (+41%), 636 million RMB (+14%), and 703 million RMB (+11%) respectively, with corresponding EPS of 1.11, 1.26, and 1.39 RMB [4] Summary by Sections Performance Review - In 2024, the company achieved a revenue of 1.735 billion RMB, down 34.58% year-on-year, and a net profit of 397 million RMB, up 67.18% year-on-year [1] Operational Analysis - The blood products business remained stable despite market competition, with a revenue of 1.514 billion RMB, a 4.32% increase year-on-year [2] - The company successfully expanded its plasma collection capabilities, achieving 630.6 tons collected in 2024, a 10.4% increase year-on-year [2] Research and Development - The company is focusing on product innovation and has several products in clinical stages, including IVIG and C1 esterase inhibitor [3] Profit Forecast and Valuation - The profit forecast for 2025-2027 is set at 560 million RMB, 636 million RMB, and 703 million RMB, with corresponding EPS of 1.11, 1.26, and 1.39 RMB [4]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company is experiencing rapid growth in plasma collection, with high-concentration immunoglobulin and tetanus immunoglobulin expected to be approved for market launch [6] - In 2024, the company achieved revenue of 1.735 billion yuan, a year-on-year decrease of 34.58%, while net profit attributable to shareholders increased by 67.18% to 397 million yuan [4] - The company maintains its profit forecast for 2025-2026 and has added a forecast for 2027, expecting net profits of 551 million, 653 million, and 755 million yuan for 2025, 2026, and 2027 respectively [4] Financial Performance - In 2024, the company's revenue was 1.735 billion yuan, with a net profit of 397 million yuan, and a non-recurring net profit of 302 million yuan [4] - The gross profit margin for 2024 was 64.7%, an increase of 11.98 percentage points year-on-year [4] - The company’s plasma collection volume reached 630.6 tons in 2024, a year-on-year increase of 10.4%, with the parent company contributing 522.04 tons, growing by 11.7% [6] Product Performance - The revenue from immunoglobulin was 391 million yuan in 2024, down 12%, with a gross margin of 64.27% [5] - The revenue from human albumin was 403 million yuan, down 7.94%, with a gross margin of 59.88% [5] - The company’s blood product sales volume increased by 9.14% in 2024, while inventory levels decreased by 24.21% [5] Research and Development - The company invested 97 million yuan in R&D in 2024, accounting for 5.59% of its revenue [6] - The company has completed the listing application for high-concentration immunoglobulin and tetanus immunoglobulin, with several other products in development [6] Valuation Metrics - The current stock price is 28.08 yuan, with a market capitalization of 14.159 billion yuan [1] - The projected P/E ratios for 2025, 2026, and 2027 are 26.4, 22.3, and 19.2 respectively [4]