Group 1 - The stock price of Junshi Biosciences-U closed at 38.46 yuan on July 31, down 1.69% from the previous trading day [1] - The trading volume on that day reached 782 million yuan, with a turnover rate of 2.60% [1] - Junshi Biosciences-U is focused on the research, production, and commercialization of innovative drugs, with key products including Toripalimab, targeting oncology and autoimmune diseases [1] Group 2 - In 2025, the National Medical Products Administration has approved over 20 Class 1 innovative drugs for market launch, setting a record for the past five years [1] - There have been more than 50 licensing cooperation events for domestic innovative drugs going abroad, with a total disclosed cooperation amount exceeding 48.4 billion USD [1] - On July 31, the net outflow of main funds for Junshi Biosciences-U was 49.655 million yuan, accounting for 0.17% of the circulating market value [1]

7月31日，上证指数跌1.18%，收报3573.21点，恒生指数跌1.6%，收报24773.33点。 君实生物-UAH溢价达64.6%，位居AH股溢价率第59位。当日收盘，君实生物-UA股报38.46元，跌幅 1.69%，H股报25.5港元，下跌4.14%。 资料显示，上海君实生物医药科技股份有限公司成立于2012年12月,是一家以创新为驱动,致力于创新疗 法的发现、开发和商业化的生物制药公司。凭借卓越的创新药物发现能力、先进的生物技术研发、全产 业链大规模生产技术和极具市场潜力的在研药品组合,君实生物在肿瘤免疫疗法,以及自身免疫系统疾 病、慢性代谢类疾病、神经系统疾病、感染类疾病等治疗方面极富潜力。 *注：AH股是指同时在A股和港股上市的公司，溢价（A/H）越大，说明H股相比A股越便宜。 本文源自：金融界 作者：行情君 ...

Core Viewpoint - Junshi Biosciences aims to establish itself as a global innovative pharmaceutical company with a complete industry chain capability from drug discovery to commercialization, focusing on quality and innovation [2][3]. Group 1: Company Overview - Junshi Biosciences was founded on December 27, 2012, and listed on July 15, 2020, with its main business involving the research and commercialization of monoclonal antibody drugs and other therapeutic proteins [7]. - The company's revenue composition includes 84.18% from drug sales, 12.08% from technology licensing, and 3.73% from other sources [7]. Group 2: Product Development and Pipeline - The company has developed a significant product portfolio, including the first domestically approved PD-1 monoclonal antibody, Toripalimab, which has received approval for 11 indications in mainland China and is also approved in multiple countries [2]. - Junshi's Tifcemalimab is the first anti-tumor anti-BTLA monoclonal antibody to enter clinical development, with ongoing Phase III trials and several combination studies [2]. Group 3: Recent Collaborations and Innovations - On October 27, 2023, Junshi announced collaborations with several institutions to develop a monkeypox recombinant protein vaccine, currently in preclinical development [3]. - The company is also working on other vaccine candidates, including Zika virus vaccines, through partnerships with research institutions and universities [3]. Group 4: Financial Performance - For the first quarter of 2025, Junshi reported revenue of 5.01 billion, a year-on-year increase of 31.46%, while the net profit attributable to shareholders was -2.35 billion, reflecting a 17.01% year-on-year increase [8].

作者：智投君 融券方面，当日融券卖出0.62万股，净卖出0.48万股。 本文源自：金融界 7月30日，沪深两融数据显示，君实生物获融资买入额0.85亿元，居两市第244位，当日融资偿还额0.83 亿元，净买入199.21万元。 最近三个交易日，28日-30日，君实生物分别获融资买入0.60亿元、1.02亿元、0.85亿元。 ...

作者：A股君 根据公开信息，君实生物于2020年7月在科创板上市，通过资本市场获得80多亿元融资，有力支持了临 床项目和研发储备的推进。公司研发的创新型疗法已在中美两国获批上市，为相关疾病患者提供了新的 治疗选择。 截至2025年7月30日15时，君实生物-U股价报39.12元，较前一交易日下跌1.88元。当日开盘价为40.60 元，最高触及41.55元，最低下探至39.00元，成交量为187189手，成交金额达7.53亿元。 君实生物-U属于生物医药行业，专注于创新药物的研发与商业化。公司产品涵盖抗肿瘤、自身免疫、 抗感染等多个治疗领域，其核心产品已在全球超过35个国家和地区获批上市。目前公司拥有5项商业化 产品，在创新药领域具有重要地位。 本文源自：金融界 当日主力资金净流出7000.54万元，占流通市值的0.23%。 风险提示：股市有风险，投资需谨慎。 ...

Core Points - Junshi Bioscience's stock closed at 39.12 yuan, down 4.59% [1] - The company was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on July 15, 2020, with an initial offering price of 55.50 yuan per share [1] - The stock reached a peak of 220.40 yuan on its first trading day but has since experienced a significant decline, currently trading below its initial offering price [1] Fundraising and Financials - Junshi Bioscience raised a total of 4.836 billion yuan in its initial public offering (IPO), with a net amount of 4.497 billion yuan after deducting issuance costs, exceeding the planned amount by 1.797 billion yuan [1] - The company planned to use the raised funds for innovative drug research and development, a technology industrialization project, repaying bank loans, and supplementing working capital [1] - In 2022, the company issued 70 million A-shares at a price of 53.95 yuan per share, raising approximately 3.776 billion yuan, with a net amount of about 3.745 billion yuan after expenses [2] - The total amount raised by Junshi Bioscience from both IPOs is approximately 8.612 billion yuan [2] Profitability - From 2016 to 2024, the company's net profit attributable to shareholders has shown consistent losses, with figures ranging from -1.35 billion yuan in 2016 to -12.81 billion yuan in 2024 [3] - The net profit excluding non-recurring gains and losses also reflects significant losses, with values from -1.60 billion yuan in 2016 to -12.90 billion yuan in 2024 [3]

港股生物医药板块午后走弱，荣昌生物(09995.HK)跌超7%，君实生物(01877.HK)跌超6%，再鼎医药 (09688.HK)、复宏汉霖(02696.HK)等跟跌。 ...

6年前，肩负着支持科技创新"前沿阵地"与改革"试验田"的重任，科创板掀开了中国资本市场注册制改 革的新篇，重塑资本服务实体经济的底层逻辑。 6年来，汇聚起589家"硬科技"企业的科创板从未停止探索与创新的步伐。一个月前，《关于在科创板设 置科创成长层 增强制度包容性适应性的意见》（以下简称《科创板意见》）发布，为服务科技创新和 新质生产力发展再度加码。 当前，新一轮科技革命和产业变革深入发展，面对科技型企业对资本市场提出的更加多样化需求，"以 在科创板设置专门层次为抓手，重启未盈利企业适用科创板第五套标准上市"，正是科创板给出的最新 答卷。 以集成电路为例，科创板集成电路上市公司达120家，涵盖芯片设计、制造、封测、设备、材料、软件 等产业链各环节，汇聚了中芯国际、中微公司、沪硅产业等主要行业龙头，逐步形成链条完整、协同创 新的发展格局，推动提升了我国集成电路产业的自主化水平。 与此同时，一批科创板公司持续推动前沿技术发展和产业变革，面向人工智能、基因技术、量子信息等 未来产业正加快布局。当前，我国科技领域，特别是在人工智能、商业航天、低空经济等领域取得较大 突破，更大力度支持这些行业企业发展、为投资者提供分 ...

Investment Rating - The investment rating for the industry is "Positive" and the rating has been maintained [2] Core Insights - The pharmaceutical and biotechnology industry index increased by 5.89%, ranking third among 31 primary industries, outperforming the CSI 300 index which rose by 1.92% [5][17] - The sub-industries of medical research outsourcing and chemical preparations saw significant gains of 13.94% and 8.43% respectively, while offline pharmacies experienced a decline of 3.91% [5][17] - As of July 18, 2025, the overall PE (TTM) for the pharmaceutical and biotechnology industry is 30.09x, up from 28.52x in the previous period, indicating an upward trend in valuation but still below the average [6][22] - The top three sub-industries by PE (TTM) are vaccines (57.37x), hospitals (37.75x), and other biological products (36.95x), while pharmaceutical circulation has the lowest valuation at 15.84x [6][22] Industry Review - The report highlights that 37 listed companies in the pharmaceutical and biotechnology sector experienced a net reduction in shareholder holdings amounting to 2.182 billion yuan, with 4 companies increasing their holdings by 145 million yuan and 33 companies reducing theirs by 2.328 billion yuan [6] Important Industry News - The National Medical Products Administration (NMPA) approved the BCL-2 inhibitor "Lisatinib" for market entry, marking it as the first domestic product of its kind [8] - The NMPA also approved "Recombinant Human Albumin Injection (Rice)" as the first of its kind in China [8] - The eleventh batch of national procurement rules has been optimized, significantly reducing policy uncertainty for innovative drugs [9] Investment Recommendations - The report suggests continued attention to pharmaceutical companies with innovative capabilities and those with high-end and cost advantages in generic drugs, especially in light of the optimized procurement rules that favor high-quality production and cost-effective generics [9]

来源：新浪证券-红岸工作室 资料显示，上海君实生物医药科技股份有限公司位于上海市浦东新区平家桥路100弄6号7幢16层,香港铜 锣湾希慎道33号利园1期19楼1918室，成立日期2012年12月27日，上市日期2020年7月15日，公司主营业 务涉及单克隆抗体药物和其他治疗型蛋白药物的研发与产业化,单克隆抗体药物研发的技术服务与技术 转让等。主营业务收入构成为：药品销售84.18%，技术许可及特许权使用收入12.08%，其他(补 充)3.73%。 截至3月31日，君实生物股东户数2.94万，较上期增加0.24%；人均流通股25987股，较上期减少0.23%。 2025年1月-3月，君实生物实现营业收入5.01亿元，同比增长31.46%；归母净利润-2.35亿元，同比增长 17.01%。 机构持仓方面，截止2025年3月31日，君实生物十大流通股东中，华夏上证科创板50成份ETF （588000）位居第六大流通股东，持股3025.34万股，相比上期减少505.06万股。易方达上证科创板 50ETF（588080）位居第八大流通股东，持股2158.33万股，相比上期减少86.92万股。香港中央结算有 限公司位居第 ...