证券代码：300294 证券简称：博雅生物 公告编号：2026-003 华润博雅生物制药集团股份有限公司 2025 年度业绩预告 报告期内，公司坚定践行华润"1246"模式，以"四个重塑"（价值重塑、 业务重塑、组织重塑、精神重塑）为抓手，在复杂多变的市场环境中攻坚克难， 学术引领，消化历史风险，预计实现营业收入同比增长10.00%～25.00%，主要 系新增合并绿十字香港控股有限公司所致。 1、公司归属于上市公司股东的净利润与上年同期相比下降主要原因是： 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 一、本期业绩预计情况 1、业绩预告期间：2025年1月1日—2025年12月31日 2、业绩预告情况：预计净利润为正值且属于同向下降50%以上情形 以区间数进行业绩预告的情况表： 单位：万元 | 项 目 | | 本报告期 | | | 上年同期 | | --- | --- | --- | --- | --- | --- | | 归属于上市公司 | | 10,500.00 | ～ | 13,650.00 | 39,699.16 | | 股东的净利润 | 比上年同期下降 ...

华润博雅生物制药集团股份有限公司 关于全资子公司获得《药品补充申请批准通知书》的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 近日，华润博雅生物制药集团股份有限公司（以下简称"公司"）之全资子 公司绿十字香港控股有限公司的全资子公司绿十字（中国）生物制品有限公司（以 下简称"绿十字（中国）"）收到国家药品监督管理局核准签发的 3 个规格静注 人免疫球蛋白（pH4）《药品补充申请批准通知书》（通知书编号：2026B00463、 2026B00465、2026B00466）。现将有关情况公告如下： 证券代码：300294 证券简称：博雅生物 公告编号：2026-004 审批结论：根据《中华人民共和国药品管理法》及有关规定，经审查，本品 此次申请事项符合药品注册的有关要求，批准本品补充申请。 一、药品的基本情况 （一）《药品补充申请批准通知书》（通知书编号：2026B00463） 药品名称：静注人免疫球蛋白（pH4） 剂型：注射剂 规格：1.25g/瓶（5%，25ml） 受理号：CYSB2400097 药品注册标准编号：YBS00372009 上市许可持有人名称： ...

Market Overview - The biopharmaceutical sector experienced a decline of 1.3% on January 29, with Hualan Vaccine leading the drop [1] - The Shanghai Composite Index closed at 4157.98, up 0.16%, while the Shenzhen Component Index closed at 14300.08, down 0.3% [1] Individual Stock Performance - Weigao Bio (002880) saw a closing price of 30.07, with an increase of 4.59% and a trading volume of 88,100 shares, totaling a transaction value of 266 million yuan [1] - Changchun High-tech (000661) closed at 98.30, up 0.92%, with a trading volume of 64,700 shares and a transaction value of 629 million yuan [1] - Other notable performers include Boya Bio (300294) and Zhifei Biological (300122), both with a closing price increase of 0.92% and 0.73% respectively [1] Declining Stocks - Hualan Bio (301207) reported a significant decline of 9.05%, closing at 22.62, with a trading volume of 300,600 shares and a transaction value of 689 million yuan [2] - Junshi Biosciences (688180) fell by 6.02%, closing at 36.82, with a trading volume of 266,100 shares and a transaction value of 1 billion yuan [2] - Other stocks such as Jinkang (688670) and Bohui Innovation (300318) also experienced declines of 5.81% and 4.95% respectively [2] Capital Flow Analysis - The biopharmaceutical sector saw a net outflow of 866 million yuan from institutional investors, while retail investors contributed a net inflow of 682 million yuan [2] - Notable net inflows from retail investors were observed in stocks like Shanghai Laishi (002252) and Weigao Bio (002880) [3] - Conversely, stocks such as Zhixiang Quantai (688443) and Weigao Bio (002880) experienced significant net outflows from institutional and speculative investors [3]

证券日报网讯1月23日，博雅生物（300294）在互动平台回答投资者提问时表示，公司2026年1月20日含 信用账户合并名册的股东人数为30593户。 ...

证券日报网讯1月23日，博雅生物（300294）在互动平台回答投资者提问时表示，公司二级市场股票价 格受宏观环境、市场政策、投资者风险偏好等因素影响。公司经营情况请参考公司定期报告。 ...

Group 1 - The biopharmaceutical sector increased by 0.19% on January 21, with Nearshore Protein leading the gains [1] - The Shanghai Composite Index closed at 4116.94, up 0.08%, while the Shenzhen Component Index closed at 14255.12, up 0.7% [1] - Key stocks in the biopharmaceutical sector showed significant price increases, with Nearshore Protein rising by 6.37% to a closing price of 48.76 [1] Group 2 - The biopharmaceutical sector experienced a net inflow of 77.04 million yuan from institutional investors, while retail investors saw a net outflow of 284 million yuan [2] - Major stocks like Watson Bio and Ganli Pharmaceutical attracted significant institutional investment, with net inflows of 64.45 million yuan and 55.25 million yuan, respectively [3] - Retail investors showed a negative trend in several stocks, with Watson Bio and Ganli Pharmaceutical experiencing net outflows of 33.30 million yuan and 39.14 million yuan, respectively [3]

Investment Rating - The report initiates coverage with a "Buy" rating for the company [1] Core Views - The company is the largest OTC manufacturer in China, with a strong brand presence and a projected revenue compound annual growth rate (CAGR) of 7.5% from 2019 to 2024 [6][26] - The pharmaceutical manufacturing segment ranks second in the industry, while the pharmaceutical distribution segment ranks third [6][65] - The company has a robust pipeline of acquisitions to expand its business scope, particularly in traditional Chinese medicine and healthcare products [7][38] Summary by Sections Company Overview - China Resources Pharmaceutical Group Limited is a leading integrated pharmaceutical company, covering manufacturing and distribution of pharmaceuticals, healthcare products, and medical devices [20] - The company has a significant market presence, with a market capitalization of HKD 285.23 billion and a closing price of HKD 4.54 as of January 16, 2026 [1] Financial Performance - The company’s revenue for the first half of 2025 reached CNY 1,319 billion, with a year-on-year growth of 3% [26] - The distribution business accounted for approximately 80% of total revenue, with distribution revenue of CNY 1,045 billion, growing by 2% [26] - The pharmaceutical business generated CNY 218 billion in revenue, increasing its share from 15% in 2019 to 17% in the first half of 2025 [26] Pharmaceutical Manufacturing - The company produces 944 products, including traditional Chinese medicine, chemical drugs, biological products, and medical devices, covering a wide range of therapeutic areas [32] - The pharmaceutical business is expected to grow at a CAGR of 10.4% from 2022 to 2024 [36] Pharmaceutical Distribution - The company’s distribution revenue for the first half of 2025 was CNY 1,100 billion, ranking third in the industry, behind China National Pharmaceutical Group and Shanghai Pharmaceuticals [8][65] - The distribution model is evolving from traditional distribution to a dual approach of distribution and deep marketing [8] Profit Forecast and Valuation - The projected net profit attributable to ordinary shareholders for 2025-2027 is CNY 34.9 billion, CNY 37.6 billion, and CNY 40.5 billion, respectively, with growth rates of 4.0%, 7.9%, and 7.7% [9] - The report assigns a price-to-earnings (PE) ratio of 8.7x for 2026, suggesting a market value of HKD 353 billion, indicating a 24% upside potential from the current market value [8] Key Assumptions - The pharmaceutical business is expected to grow at rates of 4.1%, 6.0%, and 6.5% from 2025 to 2027 [12] - The distribution business is projected to grow at rates of 2.6%, 5.0%, and 5.3% during the same period [12] - The retail business is anticipated to grow at rates of 11.8%, 12.0%, and 12.0% from 2025 to 2027 [12]

Core Viewpoint - Boya Bio (300294) confirmed that according to the "Blood Product Management Regulations," a single plasma collection station can only supply raw plasma to one blood product manufacturer with which it has signed a quality responsibility agreement, prohibiting supply to any other entities [1] Group 1 - The regulation mandates that the plasma collected by the Green Cross (China) subsidiary must be processed and produced by Green Cross (China) [1]

Core Viewpoint - The company has made significant progress in building its marketing team, commercial channels, and academic promotion system, enhancing its market presence and product delivery capabilities [1] Group 1: Marketing Team Development - The company has established a professional and market-oriented marketing team, which is crucial for its growth strategy [1] Group 2: Academic Promotion - The academic promotion efforts have achieved near-complete coverage of major hospitals nationwide, providing strong support for direct product delivery to end-users [1] Group 3: Commercial Channel Development - The company has formed strong alliances with mainstream commercial entities, creating complementary advantages that enhance its market position [1]

Group 1 - The company is focused on industry development trends and strategic opportunities that enhance its core competitiveness and create long-term value [1] - The company acknowledges that external mergers and acquisitions carry significant uncertainty [1] - Currently, the company has no plans for related mergers and acquisitions [1]