武汉春天生物工程股份有限公司首次公开发行 4,500 万股 A 股网上路演公告 经中国证券监督管理委员会证监发行字 [2004]55 号文核准, 武汉春天生物工程股份有限公司 ( 以下简称 发行人 ) 将于 2004 年 5 月 21 日公开发行 4,500 万股人民币普通股 (A 股 ) 股票 本次发行全部采用向二级市场投资者定价配售方式, 发行价格 6.20 元 / 股 根据中国证监会 关于新股发行公司通过互联网进行公司推介的通知, 为便于拟申购的投资者了解发行人基本情况 发展前景和本次发行的有关情况, 发行人和保荐机构 ( 主承销商 ) 宏源证券股份有限公司定于 2004 年 5 月 20 日 ( 星期四 )14:00-18:00 在中国证券网 (http://www.cnstock.com) 举行网上路演 出席人员 : 发行人董事长 总经理 财务负责人 董事会秘书和保荐机构 ( 主承销商 ) 有关领导及项目组人员 本次发行的 招股说明书摘要 已于 2004 年 5 月 18 日在 中国证券报 上海证券报 证券时报 证券日报 上刊登 敬请广大投资者关注 武汉春天生物工程股份有限公司 2004 年 5 月 18 日
628 B 2 1-1 - 1
45,000,000 1 6.20 0.29 5.91 45,000,000 279,000,000 13,180,000 265,820,000 2004 5 21 1-1 - 2
1 2 3 4 100% 5 2003 12 31 123,692,228.50 6 1995 VA-90 186.91 180 180 3600 5% 1-1 - 3
1-1 - 4 1-1-9 1-1-10 1-1-10 1-1-10 1-1-11 1-1-11 1-1-12 1-1-13 1-1-13 1-1-13 1-1-15 1-1-17 1-1-17 1-1-19 1-1-20 1-1-22 1-1-24 1-1-26 1-1-27 1-1-28 1-1-30 1-1-30 1-1-30 1-1-37 1-1-38 1-1-40 1-1-41 1-1-43 1-1-45 1-1-49 1-1-51 1-1-54
1-1 - 5 1-1-56 1 2 3 4 5 6 7 8 9 1-1-56 1-1-56 1-1-58 1-1-59 1-1-60 1-1-61 1-1-62 1-1-63 1-1-64 1-1-69 1 2 3 4 5 6 7 8 1-1-69 1-1-69 1-1-69 1-1-69 1-1-75 1-1-76 1-1-77 1-1-77 1-1-77 1 2 3 4 1-1-78 1-1-78 1-1-83 1-1-84 1-1-86 1-1-88 1 2 3 1-1-88 1-1-88 1-1-88 1-1-88 1 2 1-1-88 1-1-88 1-1-89
1-1 - 6 3 4 5 1-1-89 1-1-92 1-1-93 1-1-94 1 2 3 4 1-1-94 1-1-94 1-1-95 1-1-95 1-1-96 1 2 1-1-96 1-1-97 1-1-97 1 2 1-1-98 1-1-98 1-1-98 1-1-98 1-1-100 1 2 3 1-1-100 1-1-100 1-1-100 1-1-102 1 2 3 1-1-102 1-1-102 1-1-102 1-1-102 1 2 1-1-104 1-1-104 1-1-104 1 2 1-1-104 1-1-104 1-1-104
1-1 - 7 1-1-105 1-1-105 1-1-106 1-1-107 1-1-108 1-1-108 1-1-108 1-1-109 1-1-112 1-1-115 1-1-120 1-1-123 1-1-125 1-1-125 1-1-126 1-1-126 1-1-126 1-1-128 1-1-131 1-1-131 1-1-132 1-1-132 1-1-134 1-1-134 1-1-134 1-1-134 1-1-135 1 2 3 1-1-135 1-1-135 1-1-135 1-1-135
4 1-1-135 5 1-1-136 1-1-136 1-11 1-1-136 2-2a 1-1-139 3 1-1-141 4 1-1-143 5 1-1-145 6 1-1-147 7 1-1-150 8 1-1-152 9 1-1-155 1-1-157 1-1-157 1-1-157 1-1-158 1-1-158 1-1-159 1-1-159 1-1-159 1-1-162 1-1-163 1-1-170 1-1 - 8
1 A 45,000,000 1 SFDA SFDA FDA CP WTO GMP GSP GLP OTC OTC 1-1 - 9
1997 343 1997 11 20 1998 1999 1999~2002 1998 ~2002 50 2001 5 2001 2001 ISO9001 2002 2003 7 2004 2 1 1999 5 19 5600 64% 2 12256 1-1 - 10
17.5% 3 800 2000 8 10% 4 1992 5 7.5% 5 1980 1% 2004 20990 1 2003 12 31 2002 12 31 2001 12 31 35,170.39 31,719.61 23,538.57 19,328.98 16,070.93 10,538.04 15,631.65 15,500.33 12,915.49 2 2003 2002 2001 15,416.50 14,086.99 11,305.45 6,711.34 7,216.46 6,135.42 3,505.17 3,233.16 2,588.55 2,861.26 2,584.84 2,513.43 1 45,000,000 1-1 - 11
33.09% 6.20 2003 20.00 27900 26582 2003 12 31 1.72 2004 6 2004 3.10 1-11 2-2a 3 4 5 6 7 8 1-1 - 12
1 A 2 1.00 3 45,000,000 33.09% 4 6.20 5 2003 20.00 6 2003 12 31 1.72 2004 6 2004 3.10 7 8 9 10 27900 26582 11 1318 837 98 210 90 80 3 1318 1 628 B 027 87654767 027 87654797 2 1-1 - 13
2 027 87257101 027 87257101 3 4 298 021 58369477 021 58369477 5 8 0510 2833321 2833551 0510 2833321 279 027 85712698 027 85712070 6 1 3 010 63288571 010 63288570 1-1 - 14
7 925 1 208 021 63606600 021 63501004 8 66 B 12 027 87824816 027 87326748 9 77 A 805 027 87250566 027 87250668 10 727 021 58708888 021 58754185 11 11 027 87310282 027 87310282 1 2004 5 18 1-1 - 15
2 2004 5 21 3 1-1 - 16
1-11 -2a 2-2a -11 1-1 - 17
1-1 - 18 3 11-2a 4
1 7 ( ) -11-2a 2 2001~2003 553.99 875.07 771.96 28.59% 36.94% 31.27% 50% 1 2 3 1-1 - 19
1 2001~2003 46.23% 43.44% 41.97% 2003 12 31 11600 2 1 2001 7 2% 2000 11 16% 98% 2001 9 80% 20% 99.6% 2 3 3 2001~2003 1.40 1.31 1.18 1.24 1.24 1.14 1-1 - 20
4 2003 3698 2229.20 1 1 1 2 3 4 5 6 2000~2002 93.96% 97.63% 96.11% 2003 1-1 - 21
12 31 3747.50 96.59% 1 2 3 4 7 1999~2001 524,467.48 327,571.74 1 2 3 1 GMP GSP GMP 2004 6 30 GMP GMP 1-1 - 22
GMP 30% 2004 GSP 2004 2 GMP 2003 7 GSP GMP GSP 2 3 4 [1999]14 1-1 - 23
1-1 - 24 5 8 1
2 3 WTO WTO WTO WTO WTO 1 2 3 1-1 - 25
1 GMP 2 64% 42.82% 3 2003 12 31 4.0 1-1 - 26
4 8 3 3 1 1-11 -2a 6 GHRP 6 1 1-1 - 27
2 3 rhgh 4 1 2 3 4 1-1 - 28
1-1 - 29
1 WUHAN SPRING BIOLOGICAL ENGINEERING CO. LTD. WSBE 2 3 1997 11 20 4 628 B 430070 5 027 87654767 027 87654797 http://www.spring.com.cn stocks@spring.com.cn 1997 1998 1998 2002 50 1998 9 1999 4 1999 ~2002 1998 1999 2001 5 2001 2002 1 1 1997 11 11 1997 343 1-1 - 30
1997 11 20 70,000,000 1997 10 2 1995 1995 9 30 4502.5 2500 4390.3 452.9 19184 8000 15239 1372 852 200 803 602 ---- ---- ---- ---- ---- ---- ---- ---- 110 100 101 1.2 1995 10 16 [ 95 176 ] % 1-1 - 31 1584 540 44.0 15.0 630 17.5 360 10.0 270 7.5 180 5.0 36 1.0 3600 100.0 2124 1584 540 1323.7853 1222.78 540
260.2147 [1995]101 630 737.4163 207.6012 62.619 467.1961 270 360 270 360 107.4163 [1995]102 1995 85 10317.41 1999 9 WC-1999-052 2000 12 31 2002 4 56.75 2002 10 18 VA 90 186.91 [1995]97 1995 VA-90 1993 9 19 8 2001 9 18 1-1 - 32
1997 VA-90 1 1995 [1995]97 2 1995 VA-90 3 VA-90 36 1-1 - 33
2 2001 7 16 [2001]24 5% 1% 2001 11 7.5% 3 1 1995 1997 1997 8 9 1960 98% 40 2% 1996 8 50 4,210,000 1-1 - 34
400 [1997] 42 [1997]70 97 156 1997 8 27 27189329-3 1997 10 98% 2001 7 2% 100% 1999 12 -- 20 20% 2001 7 2% 98% 1999 12 820 180 1894 1999 1012 1999 12 23 4200001000794 2000 11 16% 2001 4 98% 1-1 - 35
2001 9 800 80% 99.6% 20% 18% 20% 2 98% 99.6% 3 1-1 - 36
98% 4 2001 7 2% 98% 2001 1999 12 23 2000 11 16% 98% 2001 9 3 1000 1 1997 1-1 - 37
1997 10 31 [97]029 1999 10 3 1998 [99]016 2 1997 2001 9 [2001] 76 2001 8 31 25012.47 13352.61 15.41% 3 1997 10 31 (97)126 1999 1 1998 12 31 (99)030 2001 9 1998 1999 2000 2001 1--8 2001 21641 2002 2 1999 2000 2001 2002 20317 2002 8 1999 2000 2001 2002 1-6 2002 21454 2003 1 2000~2002 2003 20102 2004 3 2001~2003 2004 20990 1-1 - 38
1 1340290 1317701 1260249 ASEEN 1244299 1232148 1377743 1377745 1389459 1386498 1377744 1340287 1340286 1307741 1260250 1260428 1260246 1354768 1354779 ( 1340288) 1340289 Eterzem 1232140 2 7 324591.8 85 10317.41 WC (1999) 101 50 53767.2 (2001) 422 50 GMP 202983.01 (2001) 453 50 4 48939.78 (2001) 2-49 50 1 3034 (2001) 2-50 50 1 2580 (2001) 2-51 50 1 2970.4 (2001) 2-52 50 1-1 - 39
3 2 4 5 26423.28 628 1472.60 9908241 85 5743.47 9910774 1 6404.62 0170 1 6397.97 0171 1 6404.62 0172 1 1 2001~2003 296 351 372 2 2003 12 31 372 % 83 22.3 56 15.1 19 5.1 31 8.3 169 45.5 14 3.7 372 100.0 1-1 - 40
% 32 8.6 146 39.3 157 42.2 37 9.9 372 100.0 % 40 20 5.4 31-40 95 25.5 30 257 69.1 372 100.0 2 1 29% 24% 5% 3% 2% 1% 1% 2 10% 8% 2% [1998]259 1 1-1 - 41
2 O O O 2001 4 3 4 1-1 - 42
5 1 1 1997 11 1997 343 1997 11 20 4130 59.00% 1225 17.50% 700 10.00% 525 7.50% 350 5.00% 70 1.00% 7000 100.00% 2 1999 1 1998 [1999]22 1998 12 31 1-1 - 43
7000 10 3 1998 9100 1999 2 5 5369 59.00% 1592.5 17.50% 910 10.00% 682.5 7.50% 455 5.00% 91 1.00% 9100 100.00% 3 2001 7 [2001]24 5% 1% 2001 11 7.5% 2001 11 13 [2001]99 5824 64.00% 1592.5 17.50% 910 10.00% 682.5 7.50% 91 1.00% 9100 100.00% 4 2 1-1 - 44
4500 5824 42.82% 1592.5 11.71% 910 6.69% 682.5 5.02% 91 0.67% 4500 33.09% 13600 100.00% 5% 1 1 5600 5824 64% 1995 2 1999 5 1995 10 2003 12 31 421,679,154.61 120,732,746.41 2003 197,868,967.97 16,373,313.34 29% 23% 15.8% 1-1 - 45
4.6% 1000 51% 19% 15% 15% 2003 12 31 4916 4267 2003 3248 291 1000 60% 40% 2003 12 31 2003 3729 2619 2003 375 1000 85% 15% 2003 12 31 2003 3511 2587 2003 284 44.8% 2000 51.5% 30% 4% 3.5% 3% 2.5% 1.75% 1.75% 1% 2003 12 31 2003 3447.48 2902.56 2003 577.91 1300 84.62% 15.38% 2003 12 31 1829 1427 2003 72 1-1 - 46
50 80% 20% 2003 12 31 81.25 49.31 2003 2.87 2 12256 1592.5 17.5% 1991 2 21 2003 12 31 45810 28990 2002 1121 2001 3 800 910 10% 1995 1 2000 8 80% 20% 1-1 - 47
2003 12 31 2591.32 2177.69 2003 42.5 4 1959 3000 2001 11 7.5% 2 1 1980 91 1% 2003 12 31 4666 1590 2002-125 2 1992 5 50 2001 7 682.5 2001 11 [2001]99 682.5 2002 5 1025 2003 12 31 1-1 - 48
1879 1616 2003 191 3 44.8% 2 1-1 - 49
1-1 - 50 100% 100% 100% 17.5% 7.5% 64% 10% 1% 98% 80% 98% 29% 23% 23% 15.8% 4.6% 4.6% 80% 20%
1-1 - 51 1 2 1 100 HP1100
GLP 2001 8 6 11 5 5 1983 RNA 150 5 TNFSF10 2 CIS 3 1-1 - 52
2001 4 4 1997 8 98% 2001 7 2% O O O O O O 2001 7 30 3 1 1000 1 1999 12 23 82% 2000 11 16% 98% 2001 4 28 2003 7 GSP 28 3 2 1000 628 1-1 - 53
2001 9 25 80% 20% 7000 1.65 11.5 41 GSP 11 2003 7 GSP 3 1999 12 13 2002 4 15 2001 6 2001 9 2003 12 31 7654.63 2000 10% 1-1 - 54
1-1 - 55
1 1 GMP GMP GMP 2 1999 4 28 3 40 10% 9% 16.4% 15.9% 13.8% 2000 20 4 IMS 1-1 - 56
2001 3 2002 2 2590 12 2000 3540 2002 4000 2004 5000 2001 2778.5 18.66 808.9 20.4 10.5 2002 3% 5 2000 41.84% 51.65% 33% 16.77% 39.22% 50.51% 6 7 I II III 8 1-1 - 57
2 1 1996 6 1 2 30 3 1996 2000 3125 1996-2000 1996 1997 1998 1999 2000 59 1001 715 691 659 3125 1-1 - 58
20% 50% 4 2001 6 28 500 15 30 13 5 GMP GSP 3 1-1 - 59
1 1971 1300 200 65% 15 20% 60% 500 40 EPO G CSF TPA Frost&Sullivan EPO G CSF 1995 23.4 2002 40 2 70 DNA 200 15-2 G-CSF EPO 2000 200 25% 4 1 1-1 - 60
90 2000 300 600 Bayer Adalat Procardia Ciba-Geigy Votaren Retard HMR Diltiazem 10 1996 220 55.3% 122.7 10%-20% 2 200 1978 900 4 2000 24 1350 30 5 12807 200 761 32 1141 11.5% 6.5% 40% 40% 2% OTC 1-1 - 61
WTO 6-11 -2a TNFSF10 1-11 -2a 1999 16 1-1 - 62
-11-2a TNFSF10 2 2 WTO 7 1-1 - 63
1 2 1200 30 1999 2000 2005 1000 3 150 8 2000 7 31 1999 60 55 2002 4 60 54 1 SOD 1 2000 24% 16.5% 14% 8% 5.5% K 14% V26 3% A Vc 1-1 - 64
( ) 2 40 15.00 15000 A 200 123.00 12000 60 2 228.00 8000 0.8g 3 6 49.80 6000 Vc 0.3g 40 73.40 1000 2000 2000 100 38 59 91 2 1 300 60 - ACE ACE IMS 1-1 - 65
20% 7% 2001-2 3 4 10% 2000 2.52% 15.88% 24 1999 2001 1997 200 82 2000 1 3 100 35 / / 3 6.5% 4.6% ( 2%) 2000 28% 2001 1-1 - 66
2000 1999 6 100 59 7% 99 3 17.9% 11.6% 9% 4-2a 20 Schring Plough Roch Wellcome Science Cys N Met Roche >2.5 10 8 IU/mg 2.2 10 8 IU/mg >1.0 10 8 IU/mg >1.0 10 8 IU/mg, N,, ( 300 IU/ ) 15 g 20 g 30 g 30 g -2a 4000 50% 30% 20% 300 IU 88 / 300 / -2a 5-11 rhepo rhg-csf - rhgm-csf - rhil-11 1-1 - 67
FDA 1997 11 Genetics Institute GI rhil-11 Neumega IL-11 SCF IL-3 IL-3 SCF T B IL-11 PTH AGIF -11 rhil-11 IL-11-11 1-11 N -11 1 2 His 3 rhil-11-11 6 2010 2-1995 50mg 10 15.0 25mg 10 15.0 25mg 10 15.2 1-1 - 68
7 2001~2003 25.83% 24.60% 9.44% 9 1 GMP GMP 2 3 1 2 2001~2003 84.69% 92.90% 96.12% 3 1-1 - 69
1 2001-2003 1000 9000 28000 ( ) 200 2 90mg 120mg 180mg 240mg 20mg 40mg 60mg 1-1 - 70 H10970379 H10970380 H10970381 H10970382 H10980285 H10980286 H10980287 0.5g Z42020550 0.3g H42022787 11g Z42020549 0.105g Z42020545 0.5g (1997) 216 ASEEN 1 4 3 6- -D- -5- ISMN ISMN NO
NO cgmp 30% 70% 80 90% ISMN <5% 8.6 4 5 ISMN 37% 7% 25% 2% <1% ISMN / β ODIZEM -(+)-5- (2- ) -2-(4- )-3- -2 3- -1 5- -4(5H)- 24 21 ( 92%) 120mg 2-3 6-11 5-7 120mg 240mg AUC 2.6 240mg 360mg AUC 1.8 2-4% 1-1 - 71
70-80% 50-200ng/ml 1. 2. 1. 50% 2. P450 3. 20% 4. 5. 6. 40-72% 7. 15-48% 8. E 2003 7 18 1-1 - 72
1-1 - 73 C SOD 3
4 500 2000 GSP [2000]368,% 2003 2002 2001 1 5,977,096.08 3.88 10,008,682.25 7.10 17,315,631.70 15.32 2 7,271,709.62 4.72 7,647,766.78 5.43 12,586,645.84 11.13 3 4,084,452.56 2.65 3,560,477.61 2.53 9,719,248.98 8.60 4 17,498,941.45 11.35 18,829,114.16 13.37 15,761,561.70 13.94 5 10,990,088.74 7.13 11,273,336.59 8.00 10,844,916.17 9.59 6 7,229,911.13 4.69 7,598,404.22 5.39 8,482,051.62 7.50 7 10,983,595.82 7.12 11,580,469.94 8.22 8,590,458.65 7.60 8 5,948,730.64 3.86 5,546,738.35 3.94 9 82,408,628.52 53.45 64,824,864.73 46.02 29,753,969.43 26.32 10 1,771,839.33 1.15 154,164,993.89 100.00 140,869,854.63 100.00 113,054,484.09 100.00 1-1 - 74
2003 % 159,835 89.57 573,741 99.31 573,933 97.58 1,552,631 97.50 1,442,186 93.76 316,317 102.37 1,230,735 92.34 747,867 89.12 5 2003 18 60 24 65 40 70 40 70 18 45 30 60 18 60 4 1 2001 8 31 2534.82 2534.82 2585.87 605.52 564.12 563.82 3140.34 3098.94 3149.69 2003 12 31 2002 12 31 1-1 - 75
2003 12 31 2002 12 31 25,438,721.05 26,125,502.89 20,653,129.13 20,002,801.53 1,991,866.81 2,248,544.67 1,914,408.50 1,774,658.68 118,091.00 50,116,216.49 50,151,507.77 2 2003 12 31 2002 12 31 5335.64 5499.08 3 5 2000 8 21 [2000]368 41 2000 12 13 [2000] 3158 2001.01 2000 12 2003.06-2003.06 2004.06 2001.12 2001.11-2005.11 GMP 2004.02 2004.02-2009.02 2003.07 2003.07-2008.07 2001.02 2001.02-2005.12 2003.07 2003.07-2008.07 2001.02 2001.02-2005.12 2003.07-2003.07 2004.04 2003.09 2003.09-2004.09 2003.09 2003.09-2004.09 1-1 - 76
6 1 2000 6 29 2.5% 2 7 GMP 1999 2000 2001 WS-211 x-166-98 1-3 WS-312 x-273-97 1-4 WS3-B-3717-98 WS3-B-0286-90 Q/WCS 01-1999 2000 8 1 2001~2003 1-1 - 77
% 2001 553.99 28.59 2002 875.07 36.94 2003 771.96 31.27 50% 2 2001~2003 % 2001 551.60 4.88 2002 1274.42 9.05 2003 2611.42 16.94 5% 1 1 1 1995 10 -- 1 1 1 2 3 1-1 - 78
4 5 1.36 a b c GHRP GHRH 0.3% SAR 6 1 D 2 3 56 1-1 - 79
1984 1994 1995 45 2010 2010 - P>0.05 98.36 18.31% -2a 260 01133662.5-2a Interferons IFNs IFN RNA 1954 1980 - - T B - 1986 -IFN IFN- -2a IFN- -2b 1990 IFN- -1b 1993 IFN- -1b -2a (300 IU/ ) 500 1 N 100% 2 1-1 - 80
99% 95% [1999] 1093 3 4 2.0-2.5 108IU/mg 1-2 108 IU/mg -11 870 01133699.4-11 -11 N -11 1 WTO -11 2001 4 2002 2 2002 4 SDA( ) 2004 2-11 99% 1.9 107IU/ 0.05% <10EU/mg 1-11 -11 GI Thioredoxin His 2 rhil-11 EK EK -11 2 1-1 - 81
2001 11 2000 2001 2000 2000 3 11-2a 5-3.1 1-1 - 82
TNFSF10 2 1995 VA-90 1999-2001 α-2a -11 1 VA-90 1995 VA-90 1993 9 19 8 2001 9 18 2 1999 991164.8 2002 4 10 6 GHRP-6 3 α-2a 2001 11 9 α-2a 01133662.5-2a 4 2001 11 9 01133663.3 1-1 - 83
5-11 2001 11 22-11 01133699.4-11 EK -11 α-2a -11-2a -11 3 1 1-1 - 84
50% 85% 70% 2 22 5.9% 2 7 3 2001~2003 568.77 447.21 527.63 5.03% 3.17 % 3.42% 4 2000 2001 1999 7 9 5-11 -11 1-1 - 85
-11-2a -2a -2a 98% 99% TNFSF10 TNFSF10 TNFSF10 TNFSF10 2000 4 2003 4 2000 6 2003 5 2000 6 2.5% 97.5% 4 1 1-1 - 86
3-5 2 11 20 2 2 1-1 - 87
1 2 3 1 2003 12 31 1-1 - 88
64% 17.5% 10% 7.5% 1% 2 3 1-1 - 89
1 2001 % 3000 46.15 90.83 100.00 130 10.97 234 26.97 1000 100.00 450 12.19 10 0.76 51.93 3.97 10.00 0.27 2.24 0.17 5% 2001 3 30 2000 2001 4 30 1000 2001 7 16 2% 1 / 2 2001 7 16 2% 2001 6 30 44,417,178.49 2001 6 30 2% 888,343.57 OO 100% 2001 7 2001 7 1-1 - 90
2001 6 30 2001 2 6 130 2001 3 5 2001 3 21 28 780 3000 /m2 234 2001 4 17 2001 4 00 1000 1 2001 2001 12 7 2001 1000 2001 11 24 450 1000 2001 12 5 450 2001 12 7 1000 1-1 - 91
450 2002 4 12 00 2002 5 23 00 1000 2002 6 28 450 450 96 2002 6 28 51.9342 2002 12 31 2 2003 12 31 7100 130 234 4.00 4 1 2 1-1 - 92
5% 2001 7 5 1-1 - 93
1 41 1986 1992 1992 1994 1994 1995 1995 2000 2000 47 1978 1988 1988 1991 1991 1994 39 1989 1993 1994 1995 1995 50 1994 1999 34 1995 35 1990 1995 1995 1998 1998 2002 51 1-1 - 94
49 1985 1990 Macquarie 1991 2000 40 1989 1992 1992 1997 1997 2000 2000 2002 2002 2 35 1996 1997 1997 51 1988 1991 1991 1993 1993 1997 1997 1999 9 1999 10 26 1998 2001 2002 5 3 33 1995 1996 2000 40 1987 2000 2001 2002 4 35 1994 2001 2002 4 49 1989 1992 1993 1996 1997 2001 2002 4 1-1 - 95
35 1996 1997 1998 2000 4 73 41 David D Ho Nature Nature Medicine N Eng Med J J Exp Med J Clin Invest Jv HIV 40 David D Ho J Exp Med Jv HIV 40 1986 41 1991 4-11 -2a 42 1984 1-1 - 96
1 1 2 6 2 20 10 0.5% 2 1 (2003 ) 13.7 11.7 11.7 8.3 8.3 3.0 3.0 3.0 2.35 1.8 5.9 9.8 4.3 8.3 8.3 1-1 - 97
7.9 2 2003 5.8 4.0 8.0 3 4 1 2 1 1-1 - 98
1999 1999 2 2001 7 ( ) ( ) 189.98 48.62 238.60 (2.62%) 29.30 267.90 (2.94%) 189.98 48.62 238.60 (2.62%) 29.30 267.90 (2.94%) 2 2001 2002 2003 267.90 2.94% 267.90 2.94% 267.90 2.94% 267.90 2.94% 267.90 2.94% 267.90 2.94% 267.90 2.94% 267.90 2.94% 3 2003 12 31 1-1 - 99
1-1 - 100 1 2 1 2
1-1 - 101
1-1 - 102 3 10% 5% 1 10% 2000 2 3
1-1 - 103 1 1 2 2
3 1/3 1 2 1 2000 2000 10% 10%( 10%) 2 1-1 - 104
1-1 - 105 5-10% 50% 8%-12% 1 2 3 4 5
6 7 7 1999 8 2000 11 2001 8 2003 8 2003 11 9 3 2000 11 2002 4 2001 2003 11 2000 11 2002 4 2000-2001 2000 11 2001 8 2001-2003 4 1-1 - 106
1-1 - 107
2004 20990 1997 11 20 1998 1 1 2001 1 1 2001 12 31 2002 12 31 2003 12 31 2001 1 1 2003 12 31 2003 1996 2 1 1,000 1012 98% 1 1,000 684.99 99.60% 2 100 98 98% 3 1 1999 12 82 2001 98 1-1 - 108
2 2001 9 80 20 3 1999 12 20 80 2001 98 2 1997 8 98 1,960 2001 7 2 2000 2001 1-6 2001 7 1 1 2003 2002 2001 154,164,993.89 140,869,854.63 113,054,484.09 85,698,824.60 67,078,157.07 50,169,748.88 1,352,724.13 1,627,132.30 1,530,574.77 67,113,445.16 72,164,565.26 61,354,160.44 4,709,448.24-180,993.97-17,012.21 14,627,435.54 14,768,252.15 16,143,153.33 15,226,636.93 18,233,383.41 14,718,143.90 6,867,542.89 6,615,656.39 3,812,481.33 35,101,278.04 32,366,279.34 26,663,369.67 157,502.85 157,502.85-13,698.65 214,186.01 62,576.67 1,076,854.47 421,279.42 254,798.42 1,841,000.00 35,051,687.48 32,331,560.44 25,885,525.49 5,825,110.08 5,850,109.21 141,626.59 613,945.71 633,056.65 609,626.82 28,612,631.69 25,848,394.58 25,134,272.08 46,956,684.85 25,117,486.70 3,657,747.97 75,569,316.54 50,965,881.28 28,792,020.05 2,879,779.28 2,672,797.62 2,449,688.90 1,439,889.64 1,336,398.81 1,224,844.45 71,249,647.62 46,956,684.85 25,117,486.70 43,949,647.62 46,956,684.85 25,117,486.70 1-1 - 109
2 : 2003 12 31 2002 12 31 2001 12 31 122,738,970.97 91,080,548.52 17,510,077.14 36,980,044.82 32,451,945.80 29,631,914.84 22,291,971.11 20,809,546.27 34,720,845.66 37,157,648.52 54,251,003.64 48,647,655.00 8,762,874.13 11,664,240.95 16,844,620.31 228,210,242.10 210,257,285.18 147,355,112.95-2,677,553.92-2,835,056.77-2,992,559.62-2,677,553.92-2,835,056.77-2,992,559.62 66,062,370.10 62,042,909.91 43,886,072.06 50,116,216.49 50,151,507.77 35,297,893.02 48,616,216.49 48,651,507.77 33,797,893.02 69,712,259.56 54,783,030.99 33,797,893.02 53,356,397.43 54,990,846.75 57,225,296.07 351,703,852.18 317,196,106.15 235,385,742.42 2003 12 31 2002 12 31 2001 12 31 116,000,000.00 111,000,000.00 65,000,000.00 15,025,264.37 12,081,334.99 8,672,876.43 25,915,440.41 3,986,776.39 3,392,882.37 268,447.71 401,792.03 1,030,708.94 24,478,229.86 17,118,728.10 5,666,998.40 1,469,328.39 1,450,907.74 864,179.49 2,136,212.80 6,967,876.55 13,415,737.04 304,636.91 313,985.94 356,309.46 7,692,228.50 7,381,548.50 6,954,948.50 193,289,788.95 160,709,269.44 105,380,356.94 193,289,788.95 160,709,269.44 105,380,356.94 2,097,522.14 1,483,576.43 850,519.78 91,000,000.00 91,000,000.00 91,000,000.00 91,000,000.00 91,000,000.00 91,000,000.00 298,077.87 297,428.75 297,428.75 21,068,815.60 16,749,146.68 12,739,950.25 43,949,647.62 46,956,684.85 25,117,486.70 156,316,541.09 155,003,260.28 129,154,865.70 351,703,852.18 317,196,106.15 235,385,742.42 1-1 - 110
3 : 2003 201,527,931.03 201,527,931.03 97,875,687.31 8,935,283.55 15,261,255.03 14,546,916.02 136,619,141.91 64,908,789.12 4,401,590.65-4,401,590.65 168,000,000.00 168,000,000.00 163,000,000.00 33,848,776.02 196,848,776.02-28,848,776.02 31,658,422.45 4 2003 2002 2001 : 28,281,862.77 45,345,305.19 27,215,662.60 14,586,502.73 19,406,971.13 12,548,647.20 444,130.12 400,792.20-2,671,210.88 29,036,399.14 26,727,976.24 24,638,515.59 28,797,792.75 26,727,976.24 24,496,889.00 76,134,373.53 51,345,777.21 28,292,334.32 71,814,704.61 47,336,580.78 24,617,800.97 44,514,704.61 47,336,580.78 24,617,800.97 1-1 - 111
5 : 2003 12 31 2002 12 31 2001 12 31 100,098,272.66 97,973,166.90 108,258,134.68 76,546,254.58 97,023,377.82 70,676,072.24 69,226,990.02 54,226,659.37 33,202,556.87 24,462,845.86 25,490,075.14 27,117,304.42 270,334,363.12 274,713,279.23 239,254,068.21 66,000,000.00 81,000,000.00 65,000,000.00 7,692,228.50 7,381,548.50 6,954,948.50 113,452,765.04 119,330,123.02 110,598,888.24 113,452,765.04 119,330,123.02 110,598,888.24 156,881,598.08 155,383,156.21 128,655,179.97 270,334,363.12 274,713,279.23 239,254,068.21 6 : 2003 33,044,268.42 25,232,779.26 7,811,489.16 49,000,000.00 931,017.54 48,068,982.46 104,000,000.00 150,940,178.64-46,940,178.64 8,940,292.98 1 2001~2003 11305.45 14086.99 15416.50 1-1 - 112
2588.55 3233.16 3505.17 1 2 2000~2001 2002~2003 3 2000 691.5 2001 2002 24% 34.8% 2002 554.67 4 2 2003 2002 2001 5,977,096.08 10,008,682.25 17,315,631.70 148,187,897.81 130,861,172.38 95,738,852.39 154,164,993.89 140,869,854.63 113,054,484.09 2001~2003 5016.97 6707.82 8598.88 54.3% 51.2% 44% 1 2001 2002 69 42.39% 42.27% 11 54.58% 53.19% 15 56.84% 57.69% 64.49% 53.95% 46.02% 2 3 4 1-1 - 113
2001 ~2003 1614.32 1476.83 1462.74 2001 ~2003 1471.81 1823.34 1522.66 3 2001~2003 2721.57 4534.53 2828.19 1254.86 1940.70 1458.65-267.12 40.08 44.41 2001 1 1999 2 98% 2001 7 2002 4 15% 1998 1999 2000 2001 1-1 - 114
( ) 2003 12 31 351,703,852.18 1 2003 12 31 2002 12 31 2001 12 31 228,210,242.10 210,257,285.18 147,355,112.95 122,738,970.97 91,080,548.52 17,510,077.14 36,980,044.82 32,451,945.80 29,631,914.84 22,291,971.11 20,809,546.27 34,720,845.66 37,157,648.52 54,251,003.64 48,647,655.00 8,762,874.13 11,664,240.95 16,844,620.31 2003 12 31 122,738,970.97 2003 12 31 3747.50 49.49 96.59% 1-2 3.27% 0.14% 2~3 3,686,291.96 9.84 5% 5% 1 1 1 2 10 2 3 20 3 100 1 1% 1 2000~2002 93.96% 97.63% 96.11% 2 2001 2002 2 1 2003 12 31 2 0.14% 3 4 2001 98.65% 2002 21033 2001 2001 3591.19 1 81.34% 1-2 17.46% 5% 5% 1378.0 38.37% 1-1 - 115
450.00 2001 12 300.00 2000 4 300.00 2000 3 250.00 2001 6 78.00 2001 8 2001 13,380,953.37 59.39% 450 250 78 450 1000 450 1000 2001 12 7 2002 6 28 250 250 78 300 2000 4 2002 2001 2002 12 31 2150.42 40.12% 2458.09 1 54.53% 1-2 32.61% 2-3 9.19% 228.89 222.92 5% 5% 457.0 18.59 1-1 - 116
300.00 2002 10 78.00 2001 8 30.00 2002 8 24.00 2001 7 20.00 2002 2003 5425.10 3715.76 % 2003 12 31 2002 12 31 1 19,872,503.88 53.48 30,172,191.89 55.62 1 2 12,597,320.11 33.90 23,637,039.47 43.57 2 3 4,687,824.53 12.62 139,341.28 0.26 3 --- --- 302,431.00 0.55 37,157,648.52 100.00 54,251,003.64 100.00 5% 5% 2003 12 31 5,030,000.00 3,640,000.00 2,500,000.00 2,215,000.00 1,011,059.60 1 GMP GMP 2001 1-1 - 117
12 31 2002 12 31 2060.2 2179.4 42.4% 40.2% 2 2001 12 31 2002 12 31 710 1117.5 15% 3 2001 12 31 2002 12 31 1060 1262.1 21.8% 23.5% 4 1999 230 2001 2002 4.7% 4.6% 2003 1709.34 1800 2002 12 31 1164.42 31.7% 2.24 4.71 876.29 8.39 2 2003 12 31 2002 12 31 2001 12 31 29,067,122.11 29,067,122.11 28,863,055.11 29,078,134.05 25,949,295.62 9,958,212.62 4,375,390.13 4,001,417.13 3,298,410.33 3,423,632.81 3,025,075.05 1,766,394.00 66,062,370.10 62,042,909.91 43,886,072.06 2001 3 2002 1 6404.62 0170 1 6397.97 0171 1 6404.62 0172 1600 1-1 - 118
2003 12 31 2002 12 31 2001 12 31 3,628,401.06 2,941,619.22 2,242,181.06 8,425,004.92 5,946,494.09 4,243,743.35 2,383,523.32 1,752,872.46 1,164,052.58 1,509,224.31 1,250,416.37 938,202.05 15,946,153.61 11,891,402.14 8,588,179.04 40 5% 2.375% 10 5% 9.5% 5 5% 19% 5 5% 19% 2002 12 31 29834.75 3 2003 12 31 5335.64 310.25 2003 12 31 4,671,961.00 747,513.60 3,924,447.40 504 1-2a 2,600,000.00 1,733,333.25 866,666.75 20 2 11,243,917.00 561,238.44 10,682,678.56 570 3 9,445,590.00 456,536.85 8,989,053.15 571 4 ( ) 4,000,000.00 4,000,000.00 ---- ---- 5 30,361,000.00 1,467,448.43 28,893,551.57 571 6 62,322,468.00 4,966,070.57 53,356,397.43 ---- --- 1 1995 10 85 50 10,317.41 1999 56.75 1-1 - 119
WC-1999-052 2002 4 56.75 2 2000 11 a-2a 3 2001 6 50 57,524.18 4 2001 8 50 53,767.20 5 1997 421 400 [1997] 42 [1997]70 4210000 6 2001 8 50 202,983.01 2001 5105.05 a-2a 4 2003 12 31-3,150,061.47 20 157,502.85-2,677,553.92 17 3,150,061.47 20 ( ) 1 2003 12 31 2002 12 31 2003 12 31 2002 12 31 116,000,000.00 111,000,000.00 116,000,000.00 111,000,000.00 2003 12 31 1-1 - 120
20,000,000 03.9.9-04.3.5 5.04% 16,000,000 03.11.10-04.11.9 6.372% 5,000,000 03.6.30-04.6.30 6.372% 20,000,000 03.8.05-04.8.5 5.841% 15,000,000 03.3.21-04.3.21 5.841% 14,000,000 03.12.12-04.12.11 6.372% 10,000,000 03.5.8-04.01.8 6.372% 10,000,000 03.3.19-04.3.19 6.372% 6,000,000 03.02.09-04.2.09 6.372% 2 2003 12 31 2002 12 31 2003 12 31 2002 12 31 1 13,681,685.22 11,690,587.65 1 2 1,086,479.90 338,196.25 2 3 204,548.16 52,551.09 3 52,551.09 --- 15,025,264.37 12,081,334.99 5 5 3 2002 12 31 2001 12 31 2003 12 31 2002 12 31 1 25,322,898.46 3,645,983.80 1 2 357,307.69 340,792.59 2 3 235,234.26 --- 25,915,440.41 3,986,776.39 1-1 - 121
5% 5% 4 1999-2001 0 359,450.63 141,626.59 1999-2001 0 1,600,628.63 3,355,839.29 4,455,390.70 1 1999 1,041,087.20 2 2000-2001 3,256,240.81 2000 01 2002 02 3 2000-2001 9,771.12 2001 07 2002 01 4 148,291.57 1999-2001 4,455,390.70 2001 12 31 2003 12 31 19,929,664.19 17% 499,104.40 5% 2,221,515.57 7% 1,827,945.70 15% 2002 2003 2001 2002 5 2001 1341.57 1 97.82% 1-2 2.16% 2-3 0.02% 5 5 51.93 51.93 2001 12 31 2000 12 31 752.61 127.79% 2003 12 31 213.62 1 194.70 1-2 11.72 2 7.20 5 5 6 2003 12 31 769.22 1998 1-1 - 122
8 22 600 ( ) 2003 12 31 2002 12 31 2001 12 31 91,000,000.00 91,000,000.00 91,000,000.00 91,000,000.00 91,000,000.00 91,000,000.00 298,077.87 297,428.75 297,428.75 21,068,815.60 16,749,146.68 12,739,950.25 43,949,647.62 46,956,684.85 25,117,486.70 156,316,541.09 155,003,260.28 129,154,865.70 1 2003 12 31 2002 12 31 2001 12 31 58,240,000.00 58,240,000.00 53,690,000.00 64.0 15,925,000.00 15,925,000.00 15,925,000.00 17.5 9,100,000.00 9,100,000.00 9,100,000.00 10.0 6,825,000,00 6,825,000.00 6,825,000.00 7.5 910,000.00 910,000.00 910,000.00 1.0 91,000,000.00 91,000,000.00 91,000,000.00 100.0 % 1997 7000 97 029 1999 9100 99 016 2 1-1 - 123
2003 12 31 2002 12 31 2001 12 31 297,428.75 297,428.75 1 297,428.75 297,428.75 297,428.75 1 2000 2001 7-3 2000 12 31 6,043,611.26 3,021,805.64 9,065,416.90 2001 2,449,688.90 1,224,844.45 3,674,533.35 2001 12 31 8,493,300.16 4,246,650.09 12,739,950.25 2002 2,672,797.62 1,336,398.81 4,009,196.43 2002 12 31 11,166,097.78 5,583,048.90 16,749,146.68 2003 2,879,779.28 1,439,889.64 4,319,668.92 2003 12 31 14,045,877.06 7,022,938.54 21,068,815.60 4 2000 12 31 3,657,747.97 2001 25,134,272.08 2,449,688.90 1,224,844.45 2001 12 31 25,117,486.70 2002 25,848,394.58 2,672,797.62 1,336,398.81 --- 2002 12 31 46,956,684.85 2003 28,612,631.69 2,879,779.28 1,439,889.64 27,300,000.00 2003 12 31 43,949,647.62 1-1 - 124
2003 2002 1 64,908,789.12 58,594,345.99 201,527,931.03 165,349,854.63 136,619,141.91 106,755,508.64 2-4,401,590.65-24,692,296.80 --- --- 4,401,590.65 24,692,296.80 3-28,848,776.02 39,638,422.19 168,000,000.00 91,000,000.00 196,848,776.02 51,361,577.81 4 31,658,422.45 73,540,471.38 2002 2003 1 5% 1 2003 12 31 7,100 1 2 2001 7 16 2% 1 / 2 2001 7 16 2001 6 30 2% 888,343.57 100% 2001 7 2001 7 3 2001 2 6 130 4 2001 3 21 1-1 - 125
28 780m 2 2001 4 17 234 5 2001 5 1000 1 2001 12 7 6 2001 12 8 450 2002 6 28 2 2003 12 31 2003 12 31 3 2000~2001 359.98 465.81 2002 1997 2001 9 [2001] 76 2001 8 31 25012.47 13352.61 15.41% 1 1997 10 26 1997 10 31 7000 1 1 7000 97 029 2 1998 10 3 9100 99 016 1 1-1 - 126
2003 2002 2001 2003 12 31 2002 12 31 2001 12 31 1.18 1.31 1.40 1.14 1.24 1.24 8.39 4.71 2.24 4.44 4.54 4.36 41.97% 43.44% 46.23% 18.30% 16.68% 19.46% 0.31 0.28 0.28 1.72 1.70 1.42 0.71 0.64 0.22 / / / / / 100 / 100 / / / 2 9 2001~2003 1 / 2003 2002 2001 2003 2002 2001 0.74 0.79 0.67 0.74 0.79 0.67 0.39 0.36 0.29 0.39 0.36 0.29 0.31 0.28 0.28 0.31 0.28 0.28 0.32 0.28 0.27 0.32 0.28 0.27 / P (SO SI Si Mi MO Sj Mj MO) P SO SI Si Sj 1-1 - 127
MO Mi Mj 2 % 2003 2002 2001 2003 2002 2001 42.93 46.56 47.50 41.89 50.79 52.62 22.46 20.88 20.64 21.91 22.78 22.87 18.30 16.68 19.46 17.86 18.19 21.56 18.43 16.68 19.71 18.20 18.19 21.93 / P EO NP 2 Ei Mi MO Ej Mj MO P NP EO Ei Ej MO Mi Mj 1 2001~2003 26.0% 24.6% 9.4% 58% 54.3% 43.5% 2001~2003 27.7% 36.68% 13.24% 84.69% 92.90% 96.12% 11-2a 1-1 - 128
1-1 - 129 2 1 2001~2003 2003 8.39 96.59% 1-2 3.27% 2-3 0.14% 3 2 2000 2003 12 31 876.29 8.39 3 2001 12 31 3591.2 1 81.34% 1-2 17.46% 1378.0 38.37% 2002 450 300 2003 12 31 2229.2 457.0 18.59% 3.67% 3 2001~2003 1.40 1.31 1.18 1.24 1.24 1.14 1751 9108.05 12273.90
1-1 - 130 4 46.23% 43.44% 41.97% 5 2001 12334 10368 1966-7182 2002 7354.05 5859.43 2469.23 2003 6490.88 440.16 500
1 3 5 10 m 2 GMP 1000 3 3 10 2 100% 3 1 Internet 2 3 1-1 - 131
1-1 - 132 4 5 1 2 1000 3 2 3 5 5000 1-2a -11 2
1-1 - 133 15% 40% 10% 3 700 3-11 -2a TNFSF10 4 http:// www.spring.com.cn 3 1000 1000 5 6 10 3-5 1000 7 WTO 8 WTO GMP
30% 9 1 2 3 4 5 6 7 1 2 1-1 - 134
1 4500 26582 2 2001 11 20 3 11 [2001]929-2a [2001]422 [2001]192 [2001]270 [2001]269 [2001]1193 [2001]063 [2001]271 1994 10 [1990]126 3000 4 1-1 - 135
% 2004 2005 1 4278 2995 1900 1095 46.72 2005 3.77 11 2 3884 2984 1900 1084 43.63 2005 3.75-2a 3 4156 2970 1900 1070 32.27 2005 4.74 4 3016 2496 1800 696 26.93 2005 4.9 5 2760 2187 1600 587 27.63 2005 3.77 6 2901 2210 1600 610 29.02 2005 4.97 7 1100 750 500 250 --- 2005 4.93 8 2981 2981 2981 --- 39.50 2004 3.13 25076 19573 14181 5392 --- --- --- 5 45000 64000 30% 1-11 1 G-CSF GM-CSF -11 IL-11 rhil-11 1-1 - 136
-11-11 2001 2002 2 2002 4 SDA( ) 2003 9 01133699.4 2-11 1972 DNA 1000 120 90 4.2% 10% 12.5% 1992 58 1994 83 1997 114 1999 20-11 10-21 15 20 1.3 1% -11-11 rhg-csf rhg-csf EPO 1999 9.6 2000 12.8-11 2.5 2005 6-11 3 rhil-11 25% -11 1-1 - 137
-11 GI Thioredoxin His rhil-11 EK -11-11 99% rhil-11 rhil-11 rhil-11 GI 10 2001 11 4 11 20 GMP 1280 5 [1996]35 4278 2995 1283 1 80% 2 100% 6 3.8 2290 7 1-1 - 138
8 2001 422 2-2a 1-2a 2000-2a 2 EPO 28% IFN 15% GM-CSF G-CSF 15% HGH 11% TPA 4% 9% 10 1.2 2000 1000 1% 1% - -2a 300 IU 1-1 - 139
99% 2.0-2.5 108IU/mg 300 IU 20 3000 30-50 32.00 1000-1600 3000 480 3-2a -2a 2001 11-2a Cys -2a 01133662.5-2a 99% 2.0-2.5 108IU/mg -2a N N 5% 30% 10%-20% 99%( 95% ) 1-1 - 140
4 500-2a (300 IU/ ) GMP 3270 5 [1996]35 3884.23 2984.23 900 1 80% 2 100% 6 3.8 2085 7 8 2001 422 3 1 1.6 1% 5 5 94.9% 1-1 - 141
66.7% 93.1% 89.2% 88.6% 2 1000 WTO 2.0 3 94.9% 66.7% 01133663.3 94.9% 2001 11 4 2 GMP 3978 5 4156 [1996]35 2970 1186 1 80% 2 100% 1-1 - 142
6 4.7 1702 7 99% SBR 5 6 8 2001 422 4 1 24 2 100 1-1 - 143
93 100 86 100 50-70 90 32% 36% 1998 300 - ACE ACE 2001 2 3 4 10% 2000 2.52% 15.88% 3 2000 2001 2000 4 0.5 90mg/ 1-1 - 144
96 80 5.6 7680 54 40 2160 5 3016 [1996]35 2496 520 1 80% 2 100% 6 4.9 923 7 8 2001 422 5 1 1999 1697 30.3% 44.7% 1990 6.89% 1996 9.57% 6.5% 1-1 - 145
2 1999 1697 30.3% 44.7% IMS 20% 7% 2000 1-3 100 35 21 10 5 13 19 25-74 10 776 10 256 10 180 10 100 2015 70%-80% 3 1999 2001 1-1 - 146
4 0.5 40mg/ 96 80 5.6 7680 44.3 40 1770 5 2760 [1996]35 2187 573 1 80% 2 100% 6 5 858 7 8 2001 422 6 1 2010 1-1 - 147
50% 2 1984 1994 1995 15-30 1 NSAIDS 18 53%-62% 15%-19% 5% 18 90% 95% NSAIDS 92 96 10 13.2 3 GMP 1-1 - 148
4 1.8 50mg/ 96 80 5.6 7680 1440 5 2901 [1996]35 2210 691 1 80% 2 100% 6 4.9 1016 7 8 2001 422 1-1 - 149
7 1 60% SAR 6 GHRP-6 2 hgh 5 6.8 1998 60 55 1997 1.5 1-1 - 150
1997 6.60 1996 30 3 SAR 6 GHRP-6 99116414.8 CAD CAD 520 D Boc- - I Boc- I - - II Boc- - - - Septadex G10 IDA 4 0.1 1-1 - 151
50 20 25.2 3000 5 1100 [1996]35 750 350 6 0.1kg 50-100L 7 1# 2001 2-51 8 1 WTO 17000 1999 12.69% 12.59% 0.63% 15 70 10 96% 4.5% 2.9% 1.55% 50000 32000 140 40% 60% WTO 1-1 - 152
41 50 200 5000 12 4% 20 OTC 2 2010 6800 7200 7% 1997 517.6 3 1552.8 OTC 28.54% 65.74% 27.54% 73.9 3 OTC 220 OTC OTC 220 5% 10% 15% 30% OTC 1990 19.1 1994 77.16 4 30.5% 1996 825.12 OTC 99.32 2005 13.88 80 2005 1110 2020 OTC 3 21 1-1 - 153
99.6% 95 Internet Internet BTC www.spring.com.cn 2500 5000 50 / 3 4 / 3 14 GSP GSP 99% 24 1-1 - 154
GSP 2 4 100 200 25 25 205 87 28 35 24 143 93 21 29 5 2981 [1996]35 2981 1 2 6 2.51 1373 3.13 7 8 98% 2981 9 1 1-1 - 155
-11-2a -11 2001 2002 2 2002 4 SDA 2003 9-2a 2000-2a 2 1-1 - 156
1 1 2 3 4 5 2 1 2 EBITDA 3 3 2003 20.00 4 13600 2004 6.20 / 3.10 1 2 3 4 5 1-1 - 157
1997 11 12 1998 1751.3 2115.3 10 3 1999 1471.1 1265.5 2000 2156 3095.7 10 3 2001 2513.4 2511.8 2002 2584.8 4695.7 2003 10 3 2003 2861.3 4395.0 2003 2003 2004 2003 2004 1 1 2005 6 30 1-1 - 158
027-87654767 027-87654797 www.sse.com.cn www.spring.com.cn E-mail stocks@spring.com.cn 7 27 B 22 1 1 11 11 12 2/3 11 2001 12 31-11 2002 5 31 2002 7 1-1 - 159
31 2001 8 15 30% 261-11 45% 391.5 3 25% 217.5 30% 30% 50% 50% GMP 3 30% 2-2a -2a -2a 7-2a -2a 1-1 - 160
-2a -2a 260 10 10% 3 2000 4 25 828 4 2000 6 297 5 2001 8 6 1-1 - 161
1000 ( 50%) 85% 70% 2 20,000,000 03.9.9-04.3.5 5.04% 16,000,000 03.11.10-04.11.9 6.372% 5,000,000 03.6.30-04.6.30 6.372% 20,000,000 03.8.05-04.8.5 5.841% 15,000,000 03.3.21-04.3.21 5.841% 14,000,000 03.12.12-04.12.11 6.372% 10,000,000 03.5.8-04.01.8 6.372% 10,000,000 03.3.19-04.3.19 6.372% 6,000,000 03.02.09-04.2.09 6.372% 3 5 1-1 - 162
1-1 - 163
1-1 - 164
1-1 - 165
1-1 - 166
1-1 - 167
1 1-1 - 168
2 1-1 - 169
1-1 - 170
1 2 3 4 1 628 B 027 87654767 2 B 5 (027)87711132 87257101 1-1 - 171