名称：杭州百诚医药科技股份有限公司 证券代码：301096 证券简称：百诚医药 公告编号：2024-040 杭州百诚医药科技股份有限公司 关于完成工商变更登记的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 杭州百诚医药科技股份有限公司（以下简称"公司"）于 2024 年 10 月 28 日召开第三届董事会第二十四次会议，审议通过了《关于变更公司注册资本及修 订<公司章程>的议案》，具体内容详见 2024 年 10 月 29 日在巨潮资讯网披露的 《关于变更公司注册资本及修订<公司章程>的公告》（公告编号：2024-036） 近日，经浙江省市场监督管理局核准，公司完成了相关工商变更登记，并取 得换发的《营业执照》，变更后的工商登记基本信息如下： 统一社会信用代码：91330108577318224J 类型：其他股份有限公司（上市） 法定代表人：楼金芳 注册资本：109,228,284 元 成立日期：2011 年 6 月 28 日 营业期限：2011 年 6 月 28 日至长期 住所：浙江省杭州市临平区临平街道绿洲路 159 号 经营范围：一般项目：技术服 ...

证券代码：301096 证券简称：百诚医药 公告编号：2024-039 杭州百诚医药科技股份有限公司 关于公司控制的合伙企业认购私募基金份额的公告 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。 一、本次交易概述 1.为提高资金利用率，实现优质资产配置目标，杭州百诚医药科技股份有限 公司（以下简称"公司"）借助专业机构的专业力量，由公司控制的杭州觅鹏企 业管理合伙企业（有限合伙）（以下简称"杭州觅鹏"）拟参与认购杭州中君聚 诚股权投资合伙企业（有限合伙）（以下简称"中君聚诚"）份额，杭州觅鹏于 2024年11月20日签署《合伙协议》及相关文件。杭州觅鹏作为有限合伙人，拟以 自有资金3,000万元认购对应的出资额。 2、本次投资未达到《公司章程》和《对外投资管理制度》规定的审议标准， 无需提交董事会和股东大会审议。本次投资资金来源于杭州觅鹏自有资金，不构 成关联交易，不构成重大资产重组。 本次与专业机构共同投资符合《深圳证券交易所上市公司自律监管指引第7 号—交易与关联交易（2023年修订）》第四十二条相关规定，本次认购份额的私 募基金为与主营业务相关的投资基金 ...

证券代码：301096 证券简称：百诚医药 公告编号：2024-038 杭州百诚医药科技股份有限公司 2024 年第一次临时股东大会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 1、 召开时间： （1）现场会议召开时间：2024 年 11 月 13 日（星期三）14:30 （2）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具体时 间为：2024 年 11 月 13 日的交易时间，即 9:15-9:25，9:30-11:30 和 13:00-15:00； 通过深圳证券交易所互联网投票系统（http://wltp.cninfo.com.cn）投票的具体时间 为 2024 年 11 月 13 日 9:15-15:00 期间的任意时间。 2、 召开地点：浙江省杭州市临平区临平街道绿洲路 159 号 3、 召开方式：现场投票与网络投票相结合的方式 特别提示 1、 本次股东大会不存在否决议案的情形。 2、 本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 4、 召集人：董事会 5、 主持人：董事长、总经理楼金芳女士 6、 本次 ...

北京海润天睿律师事务所 关 于 杭州百诚医药科技股份有限公司 2024 年第一次临时股东大会的 法律意见书 二○二四年十一月 北京市朝阳区建外大街甲 14 号广播大厦 5/9/10/13/17 层 北京海润天睿律师事务所 关于杭州百诚医药科技股份有限公司 2024 年第一次临时股东大会的 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司股东大 会规则》和《深圳证券交易所创业板股票上市规则》等我国现行有关法律、法规、 规范性文件以及《杭州百诚医药科技股份有限公司章程》（以下简称《公司章程》） 和《杭州百诚医药科技股份有限公司股东大会议事规则》（以下简称《股东大会议 事规则》）的有关规定，北京海润天睿律师事务所（以下简称"本所"）接受杭州 百诚医药科技股份有限公司（以下简称"公司"）的委托，指派唐申秋律师、侯为 满律师出席公司于 2024 年 11 月 13 日召开的公司 2024 年第一次临时股东大会（以 下简称"本次股东大会"），就公司本次股东大会的相关事宜，按照律师行业公认 的业务标准、道德规范和勤勉尽责精神进行见证，并出具本法律意见书。 对本法律意见书的出具，本所律师特作如下声明： 1、本所 ...

Investment Rating - The investment rating for the company is "Outperform the Market" [5][3]. Core Views - The company experienced a significant decline in profit, with a net profit of 142 million yuan for the first three quarters of 2024, down 29.69% year-on-year, while revenue increased slightly by 1.07% to 721 million yuan. The third quarter alone saw a revenue drop of 32.26% to 196 million yuan and a staggering 90.92% decline in net profit to 7 million yuan [1][2]. - The decline in performance is attributed to intensified competition in the generic drug CRO industry, weak downstream pharmaceutical sales, and stricter MAH regulations. The increased R&D investment in innovative drugs and self-developed generic drugs has also contributed to the profit drop [1][2]. - The company is actively seeking new growth opportunities by expanding its innovative drug projects, with a total of 17 projects currently underway, including 11 small molecule drugs and 6 large molecule biologics, targeting key medical areas such as oncology, autoimmune diseases, and respiratory diseases [2][3]. Financial Summary - For 2024-2026, the company’s revenue is projected to be 909 million yuan, 1.078 billion yuan, and 1.28 billion yuan, respectively, with year-on-year growth rates of -11%, 19%, and 19%. The net profit forecasts are 178 million yuan, 216 million yuan, and 267 million yuan, reflecting a year-on-year decline of 35% in 2024, followed by growth of 22% and 23% in the subsequent years [3][4]. - The current stock price corresponds to a PE ratio of 25, 20, and 16 for the years 2024, 2025, and 2026, respectively [3][4]. - The company’s gross margin for Q3 2024 was reported at 40.90%, a decrease of 27.52 percentage points, primarily due to increased price competition in traditional generic drug CRO projects and higher depreciation and amortization costs from solidifying the commercialization production line [2][4].

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 49.80 CNY, based on a projected 20x price-to-earnings ratio for 2025 [2][4]. Core Views - The company achieved a revenue of 721 million CNY in the first three quarters of 2024, a year-on-year increase of 1.07%, but the net profit attributable to the parent company decreased by 29.69% to 142 million CNY [1]. - The company's self-research transformation business is expected to maintain long-term growth potential despite short-term performance pressure [1]. - The company has a strong integrated service capability, with stable development in entrusted services and significant growth in self-research results transformation [1]. Summary by Sections Financial Performance - In Q3 2024, the company reported a revenue of 196 million CNY, down 32.26% year-on-year, with a net profit of 7 million CNY [1]. - For H1 2024, entrusted research services generated 206 million CNY, up 5.77% year-on-year, while self-research results transformation revenue reached 290 million CNY, a 52.43% increase [1]. - The company signed new orders worth 711 million CNY in H1 2024, reflecting a 13.38% year-on-year growth [1]. Business Segments - The entrusted research services segment is supported by the policy benefits of the listed license holder system, with 59.53% of revenue coming from pharmaceutical research investment companies [1]. - The self-research results transformation business benefits from the company's R&D advantages in high-end generics, innovative drugs, and traditional Chinese medicine, with a focus on complex formulations and high technical barriers [1]. - The company has accumulated 89 projects with sales rights sharing, of which 19 have been approved, and has nearly 300 self-research projects that are yet to be transformed [1]. Profit Forecast - The forecast for earnings per share (EPS) is adjusted to 1.85 CNY for 2024, 2.49 CNY for 2025, and 2.80 CNY for 2026, reflecting a downward revision due to industry fluctuations and increased competition [2].

Investment Rating - The report maintains an "Accumulate" rating for the company [1] Core Views - The company's Q3 revenue fell short of expectations, with a significant decline in profit. For the first three quarters of 2024, the company achieved revenue of 721 million yuan, a year-on-year increase of 1.07%, while net profit attributable to shareholders decreased by 29.69% to 142 million yuan [2][6] - In Q3 2024, the company reported revenue of 196 million yuan, a year-on-year decrease of 32.26%, and a net profit of 7.45 million yuan, down 90.92% year-on-year. The decline in revenue is likely linked to underperformance in preclinical pharmaceutical research, with previously reduced-price orders impacting the financial results [2][6] - The company is increasing its R&D investment, with R&D expenses for the first three quarters of 2024 reaching 235 million yuan, a year-on-year increase of 52.66%. This is primarily due to the company's focus on innovative and generic drug development [2][6] Summary by Sections Financial Performance - For 2024, the company is projected to have revenues of 984 million yuan, 1.051 billion yuan, and 1.179 billion yuan for 2024, 2025, and 2026 respectively, with growth rates of -3.31%, 6.85%, and 12.19% [3] - The net profit forecast for the same period is 192 million yuan, 228 million yuan, and 269 million yuan, with corresponding growth rates of -29.55%, 19.08%, and 18.02% [3] Business Segments - The report anticipates stable growth in clinical services, while self-research transformation revenue growth is expected to slow down due to decreased client investment willingness. Additionally, revenue from equity sharing and CDMO is projected to decline due to delays in new product procurement [2][6] Market Position - The company is enhancing its innovative layout, with 17 ongoing innovative drug R&D projects as of H1 2024, including 11 small molecule drugs and 6 large molecule biologics [2][6]

Summary of Baicheng Pharmaceutical's Q3 2024 Earnings Call Company Overview - **Company**: Baicheng Pharmaceutical - **Industry**: Pharmaceutical and Biotechnology Key Points Financial Performance - The company reported a slowdown in revenue growth for Q3 2024 due to external market competition and regulatory challenges, particularly from the tightening of the MH system [2][3] - R&D expenditure increased by nearly 40% year-on-year, amounting to 235 million yuan, indicating a strong commitment to innovation despite revenue pressures [4][5] Strategic Focus - Baicheng Pharmaceutical is enhancing its focus on innovative drug development and improving its integrated service capabilities in drug research and clinical trials [2][3] - The company is actively expanding its CDMO (Contract Development and Manufacturing Organization) business to create a seamless integration of services from raw materials to drug development [2] Market Dynamics - The tightening of the MH system is seen as a potential opportunity for Baicheng, as it may lead to increased scrutiny of partners' management capabilities, which aligns with Baicheng's strengths [4][5] - The company is adapting its development strategy in response to regulatory changes and is optimistic about overcoming current challenges through internal management improvements and cost optimization [3] R&D and Product Pipeline - Baicheng is not only focusing on generic drugs but is also investing in the development of innovative and improved drugs, with multiple projects in the pipeline [5][6] - The company has several products in various stages of clinical trials, with expectations for significant contributions to revenue starting from 2025 [21][32] Customer and Market Engagement - Customer engagement remains cautious, with a focus on maintaining existing relationships rather than experiencing significant client turnover [7][8] - The company is exploring international markets, having received CEP approvals for three products, and is targeting Europe and Southeast Asia for expansion [12][13] Challenges and Outlook - The company faces challenges related to profit margins, which have been under pressure due to increased competition and regulatory changes [8][30] - Baicheng anticipates that the upcoming tenth batch of centralized procurement will provide opportunities for improved profitability and market positioning [30][31] Conclusion - Baicheng Pharmaceutical is committed to leveraging its R&D capabilities and market strategies to navigate current challenges and capitalize on future growth opportunities. The company aims to enhance its operational efficiency and maintain strong relationships with stakeholders while focusing on innovative drug development and market expansion [34][35]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company is experiencing temporary pressure on Q3 performance, but the self-research technology transformation is driving business transformation [3] - The company has achieved stable growth in new orders, with a total of approximately 7.11 billion yuan in new orders signed in H1 2024, representing a year-on-year increase of 13.38% [3] - Despite the competitive industry environment, the company maintains a positive outlook due to the steady development of its self-research transformation business [3] Financial Performance Summary - For the first three quarters of 2024, the company achieved revenue of 721 million yuan, a year-on-year increase of 1.07%, while net profit attributable to shareholders decreased by 29.69% to 142 million yuan [3] - In Q3 alone, revenue was 196 million yuan, down 32.26% year-on-year and 36.51% quarter-on-quarter, with net profit attributable to shareholders at 7.45 million yuan, down 90.92% year-on-year [3] - The gross margin for the first three quarters was 61.17%, down 6.15 percentage points year-on-year, and the net margin was 19.62%, down 8.61 percentage points year-on-year [3] Business Development Summary - The self-research transformation business is rapidly developing, with revenue of 206 million yuan and 290 million yuan in H1 2024, representing year-on-year growth of 5.77% and 52.43%, respectively [4] - The company is increasing its R&D efforts, currently working on multiple new drug development projects, including 11 small molecule drugs and 6 large molecule biologics [4] - The CDMO business and clinical business are growing rapidly, with the clinical business achieving revenue of 92.59 million yuan in H1 2024, a year-on-year increase of 32.22% [5] Financial Forecast Summary - The company has adjusted its profit forecast for 2024-2026, now expecting net profits attributable to shareholders of 169 million yuan, 213 million yuan, and 282 million yuan, respectively [3] - The expected EPS for 2024-2026 is 1.55 yuan, 1.95 yuan, and 2.58 yuan, with the current stock price corresponding to P/E ratios of 25.4, 20.1, and 15.2 times [3][6]

杭州百诚医药科技股份有限公司 章 程 二〇二四年 十月 | 第一章 | 总 | 则 | 3 | | --- | --- | --- | --- | | 第二章 | | 经营宗旨和范围 | 4 | | 第三章 | 股 | 份 | 5 | | 第一节 | | 股份发行 | 5 | | 第二节 | | 股份增减和回购 | 6 | | 第三节 | | 股份转让 | 7 | | 第四章 | | 股东和股东大会 | 8 | | 第一节 | | 股 东 | 8 | | 第二节 | | 股东大会的一般规定 10 | | | 第三节 | | 股东大会的召集 12 | | | 第四节 | | 股东大会的提案与通知 13 | | | 第五节 | | 股东大会的召开 15 | | | 第六节 | | 股东大会的表决和决议 18 | | | 第五章 | | 董事会 22 | | | 第一节 | | 董 事 22 | | | 第二节 | | 董事会 25 | | | 第六章 | | 总经理及其他高级管理人员 31 | | | 第七章 | | 监事会 34 | | | 第一节 | | 监 事 34 | | | 第二节 | | 监事会 35 ...