8月13日，阿里健康与信达生物在杭州签署战略合作协议。双方将在诊后疾病管理、供应链、数字化营 销等多个领域展开深度合作。在供应链系统方面，基于GLP-1类等需要2-8℃冷链配送药物，阿里健康提 供定制化供应链解决方案。 ...

此次信尔美备受追捧，离不开京东健康全渠道能力与专业服务体系的强力支撑。用户通过京东APP搜 索"信尔美"进入"京东全球找药平台"，即可就近选择线下医疗机构购买服务，极大降低了用户获取创新 药的门槛。 今年GLP-1减肥药市场火爆，为了保障能给更多用户提供安全、便捷的用药体验，在供应链方面，京东 健康全国布局的33个药品仓，可以确保90%的订单、近400个城市实现当日达或次日达。针对GLP-1类 等需2-8℃冷链配送的药物，京东健康同城冷链配送最快2小时送达，"京东买药秒送"服务可实现最快9 分钟送达，让用户能及时获取所需药品。未来，京东健康还将与信达生物继续深化合作，依托京东健康 的全链路健康减重管理体系，助力更多创新药品惠及更多有需要的人群。 本报讯(记者袁传玺)近日，京东健康股份有限公司(以下简称"京东健康")受邀参加由国家生物药技术创 新中心指导、信达生物制药集团主办的"塑造健康-2025体重管理产业会议"，并出席"共建生态减重产 业"圆桌论坛，分享了京东健康通过线上线下（300959）零售全渠道供应链、及专业的医疗健康服务优 势，为患者提供更便捷、更科学的体重管理方案。 今年，信达生物旗下新一代减重药 ...

信达生物(01801)涨超8%，截至发稿，涨8.65%，报94.65港元，成交额21.15亿港元。 摩根大通研报指出，将集团早期资产的估值上调43%，因考虑到信达生物的研发能力，且这些资产越来 越得到市场认可。通过提高玛仕度肽(Mazdutide)(GLP-1/GIP)获批后的销售成功率(PoS)、调整经营费 用，上调目标价21%，由90港元升至109港元。并维持"增持"评级。另外，考虑到信达生物对授权许可 的战略重视及其创新产品线，小摩提高对其潜在授权收入的预期，预计将占信达生物未来总收入的5- 7%。小摩表示，授权许可已成为今年中国生物制药行业最重要的推动因素之一，该行认为信达生物是 最能从这一趋势中受益的公司之一。 本文源自：智通财经网 消息面上，信达生物近日公布，2025年上半年，公司共取得总产品收入超人民币52亿元，同比保持35% 以上的强劲增长；其中2025年第二季度总产品收入超过人民币27亿元，同比增长超过 30%。该季度的 持续增长得益于肿瘤和综合管线双轮驱动共同发力。于本季度末，全球首个胰高血糖素╱胰高血糖素样 肽-1 (GCG/ GLP-1)双受体激动药物信尔美® (玛仕度肽注射液)的减重 ...

摩根大通研报指出，将集团早期资产的估值上调43%，因考虑到信达生物的研发能力，且这些资产越来 越得到市场认可。通过提高玛仕度肽(Mazdutide)(GLP-1/GIP)获批后的销售成功率(PoS)、调整经营费 用，上调目标价21%，由90港元升至109港元。并维持"增持"评级。另外，考虑到信达生物对授权许可 的战略重视及其创新产品线，小摩提高对其潜在授权收入的预期，预计将占信达生物未来总收入的5- 7%。小摩表示，授权许可已成为今年中国生物制药行业最重要的推动因素之一，该行认为信达生物是 最能从这一趋势中受益的公司之一。 消息面上，信达生物近日公布，2025年上半年，公司共取得总产品收入超人民币52亿元，同比保持35% 以上的强劲增长；其中2025年第二季度总产品收入超过人民币27亿元，同比增长超过30%。该季度的持 续增长得益于肿瘤和综合管线双轮驱动共同发力。于本季度末，全球首个胰高血糖素╱胰高血糖素样 肽-1(GCG/GLP-1)双受体激动药物信尔美(玛仕度肽注射液)的减重适应症亦获得中国国家药品监督管理 局批准上市，为公司在综合产品线领域的布局再添一款重要品种。 信达生物(01801)涨超8%，截至发 ...

摩根大通研报指出，将集团早期资产的估值上调43%，因考虑到信达生物的研发能力，且这些资产越来 越得到市场认可。通过提高玛仕度肽(Mazdutide)(GLP-1/GIP)获批后的销售成功率(PoS)、调整经营费 用，上调目标价21%，由90港元升至109港元。并维持"增持"评级。另外，考虑到信达生物对授权许可 的战略重视及其创新产品线，小摩提高对其潜在授权收入的预期，预计将占信达生物未来总收入的5- 7%。小摩表示，授权许可已成为今年中国生物制药行业最重要的推动因素之一，该行认为信达生物是 最能从这一趋势中受益的公司之一。 消息面上，信达生物近日公布，2025年上半年，公司共取得总产品收入超人民币52亿元，同比保持35% 以上的强劲增长；其中2025年第二季度总产品收入超过人民币27亿元，同比增长超过 30%。该季度的 持续增长得益于肿瘤和综合管线双轮驱动共同发力。于本季度末，全球首个胰高血糖素╱胰高血糖素样 肽-1 (GCG/ GLP-1)双受体激动药物信尔美® (玛仕度肽注射液)的减重适应症亦获得中国国家药品监督管 理局批准上市，为公司在综合产品线领域的布局再添一款重要品种。 智通财经APP获悉，信达生物 ...

Group 1 - JD Health participated in the "Weight Management Industry Conference 2025" and shared its advantages in providing convenient and scientific weight management solutions through an integrated online and offline retail supply chain and professional healthcare services [1] - The new generation weight loss drug "Masitide" (brand name: Xin Er Mei®) from Innovent Biologics was launched on JD Health's platform shortly after its approval, highlighting the collaboration to promote health knowledge related to weight loss and diabetes [3] - From July 4 to August 4, the search volume for "Xin Er Mei" on JD's platform exceeded one million, with over 30,000 users served in the first month, indicating a strong demand for scientific weight loss medications [3] Group 2 - JD Health's nationwide layout of 33 pharmaceutical warehouses ensures that 90% of orders can be delivered on the same or next day, with cold chain delivery for GLP-1 drugs available within 2 hours [3] - The "JD Buy Medicine Fast Delivery" service can deliver medications in as little as 9 minutes, allowing users to access necessary drugs promptly [3] - JD Health plans to deepen its collaboration with Innovent Biologics to enhance its comprehensive health weight management system, aiming to benefit more individuals in need of innovative medications [4]

Group 1 - The Hong Kong stock market showed strong performance on August 13, with the Hang Seng Index rising by 1.88% and the Hang Seng Tech Index increasing by 2.35%, particularly driven by the healthcare sector [1] - The Hong Kong Innovative Drug 50 ETF (513780) closed up by 3.38% with a turnover rate exceeding 18% and a transaction volume of over 400 million yuan, indicating strong investor interest [1] - Notably, the Hong Kong Innovative Drug 50 ETF (513780) experienced a net inflow of 1.07 billion yuan over the past 15 trading days, and it has gained over 92% year-to-date as of August 12 [1] Group 2 - The National Healthcare Security Administration announced the preliminary review results for the 2025 medical insurance directory and commercial insurance innovative drug directory, with 534 drugs passing the basic medical insurance directory review and 121 drugs passing the commercial insurance innovative drug directory review [2] - High-priced innovative drugs, including CAR-T therapies, are seeking inclusion in the commercial insurance innovative drug directory, indicating a push for diversified payment methods for innovative drugs [2] - Analysts suggest that the rise of innovative drugs is sustainable, recommending attention to companies with rich pipeline layouts, high-potential single innovative drugs, and leading technology platforms in the sector [2]

Group 1: Market Overview - The Hang Seng Index rose by 1.88%, gaining 470 points to close at 25,439 points, while the Hang Seng Tech Index increased by 2.35% [1] - The early trading volume in the Hong Kong stock market reached HKD 143.8 billion [1] Group 2: Biotechnology Sector - The Hang Seng Biotechnology Index surged by 3.77%, driven by a collective rise in pharmaceutical stocks following the debut of the "dual directory" for drug applications [1] - Zhonghui Biotech-B (02627) saw a significant increase of 24%, while Jiuyuan Gene (02566) rose by 8.99%, and Kintor Pharmaceutical (09939) increased by 5.7% [1] - Innovent Biologics (01801) experienced a rise of 7.27%, and He Yu-B (02256) reached a new high with a 7.38% increase, reporting a 59% year-on-year growth in net profit for the first half of the year [1] Group 3: Pharmaceutical Developments - Daqi Pharmaceutical-B (06996) rose over 15% as Claudin 18.2 ADC was proposed for inclusion as a breakthrough therapy [2] Group 4: Technology Sector - Tencent's subsidiaries reported generally better-than-expected earnings, with Tencent Music-SW (01698) rising by 15%, and Reading Group (00772) also increasing by over 15% [2] - Weimeng Group (02013) saw an increase of over 7% [2] Group 5: Industrial and Manufacturing Sector - Chongqing Machinery (02722) rose by 8.9%, with an expected 50% year-on-year growth in net profit due to rapid growth in AIDC engine demand [3] - Zhongyan Hong Kong (06055) increased by over 7%, maintaining its position in the domestic cigarette export tax-free business, with earnings to be announced next Friday [3] Group 6: Technology and Electronics - Qiu Tai Technology (01478) rose by over 8%, reporting a 167% year-on-year increase in net profit for the first half of the year, leading to target price upgrades from multiple institutions [4] - Hong Teng Precision (06088) increased by over 9% post-earnings, with a cumulative rise of over 60% in the month, reporting an 11% revenue growth but a 3% decline in net profit [5] - Minmetals Resources (01208) rose by over 9% after reporting a 15-fold increase in net profit for the first half of the year and lowering cost guidance for its mines [6] Group 7: Performance Review - 361 Degrees (01361) fell by over 10% post-earnings, with institutions stating that the first half performance met expectations, but net profit growth was slightly lower than revenue growth [7]

8月13日早盘，创新药ETF沪港深（159622）场内价格涨超1.6%，成份股海思科、迪哲医药涨超5%，信 达生物、药明合联、晶泰控股涨超4%，百利天恒、康弘药业、药明康德、和黄医药涨超3%，百济神 州、金斯瑞生物科技、翰森制药、科伦博泰生物、泽璟制药涨超2%。 消息面上，8月12日，国家医保局正式公示2025年国家基本医疗保险、生育保险和工伤保险药品目录及 商业健康保险创新药品目录调整的初步形式审查结果，合计有超过650个药品进入基本医保目录与商保 创新药目录。 敲黑板，医保、商保目录是下半年创新药投资最重要的事。 本次目录调整首次实施"双轨制"，即基本医保目录聚焦基础保障，商保创新药目录则针对符合"独家新 药"或"罕见病用药"条件的药品提供补充保障通道。 在718份基本医保目录申报信息中，共有534个药品通用名通过基本医保目录初审，其中目录外药品310 个，较2024年249个显著增加。目录外西药占比超八成，包括肿瘤靶向药、罕见病用药及新型制剂（如 口崩片、吸入剂等）。每年的医保目录调整让当年获批的创新药即可有机会进入医保目录，多款创新药 进入初审名单，包括加科思/艾力斯合作的肺癌新药戈来雷塞片；恒瑞医药 ...

Group 1 - Pharmaceutical stocks collectively surged, with notable increases in companies such as Deqi Pharmaceutical-B (up 13.53% to HKD 6.04), Jiuyuan Gene (up 7.89% to HKD 11.76), and others [1] - The National Healthcare Security Administration announced the preliminary review results for the 2025 National Basic Medical Insurance, Maternity Insurance, and Work Injury Insurance Drug Catalogs, revealing that 534 drugs passed the basic insurance catalog review and 121 drug generic names passed the commercial insurance innovative drug catalog review [1] - High-priced innovative drugs, including CAR-T therapies, are seeking inclusion in the commercial insurance innovative drug catalog, aiming for diversified payment methods for innovative drugs [1] Group 2 - The core breakthrough of the 2025 plan is the establishment of a "Basic Insurance + Commercial Insurance Innovative Drug" dual-track system, which aims to alleviate pressure on basic insurance funds while meeting multi-tiered demands [2] - The plan includes a new price negotiation mechanism and a team of commercial insurance experts, reflecting policy coordination for innovative drug development, although it also increases process complexity [2] - Overall, this represents a strategic shift in healthcare policy from "basic coverage" to "multi-tiered + innovative support," balancing accessibility and sustainability [2]