来源：@证券市场周刊微博 2025年三季度，制药装备相关上市公司业绩大都出现拐点，在此背后是需求端的恢复。随着制药行业复 苏，全球产能进入扩张周期，启动了新一轮产能建设，制药装备行业因此将大为受益。 而据森松国际半年报，2025年上半年其收入26.87亿元，同比下降22.7%；归母净利润3.4亿元，同比下 降10.1%。虽然营收和净利润均同比下滑，但森松国际在手订单却创出历史新高，主要是医药带动新签 订单超预期。上半年，森松国际新签订单59.96亿元，同比增长89.5%。其中，医药新签订单43.72亿 元，同比增长642%。截至2025年6月底，公司在手订单为105.66亿元，同比增长20.4%，创历史新高。 上半年新签订单中，海外订单占比达到92.8%，同比有较大提升。 在此背后是制药装备行业的恢复。随着制药行业复苏，全球产能进入扩张周期，制药装备行业大为受 益。 薛宇/文 2025年以来，在创新药行情催化下，医药行业股价整体表现较好。 其中，年初以来，港股上市公司森松国际（02155.HK）股价由4.303港元/股上涨至最高的11.68港元/ 股，涨幅接近两倍。深挖背后的原因，一方面源自行业恢复，公司订单 ...

Group 1 - The core point of the news is that Southbound funds have reduced their holdings in Sensong International (02155.HK) by 218,000 shares on December 22, 2025, marking a trend of net reductions over recent trading days [1] - Over the past five trading days, Southbound funds have reduced their holdings for four days, with a total net reduction of 326,000 shares [1] - In the last twenty trading days, there have been fifteen days of reductions, totaling a net decrease of 9.319 million shares [1] Group 2 - As of now, Southbound funds hold 190 million shares of Sensong International, which represents 15.28% of the company's total issued ordinary shares [1] - The company specializes in the manufacturing of pressure equipment and provides comprehensive pressure equipment solutions, including traditional and modular pressure equipment [2] - Traditional pressure equipment includes heat exchangers, vessels, reactors, and towers, while modular pressure equipment consists of process modules and skids, as well as modular plants [2]

Group 1 - The core viewpoint of the article highlights that SenSong International (02155) has seen a significant stock price increase, rising over 8% and reaching HKD 9.08, with a trading volume of HKD 22.42 million [1] - According to a report from Cinda Securities, the domestic market is expected to return to rationality starting in the second half of 2024, with gross margins gradually recovering to reasonable levels. This recovery is anticipated to be driven by a rebound in innovative drug financing and frequent BD transactions, leading to a revival in the CMO sector, which will gradually impact the pharmaceutical equipment industry and potentially achieve a cyclical reversal [1] - Open Source Securities reports that SenSong International, as a global leader in high-end pressure equipment, will benefit from the recovery of CAPEX in the pharmaceutical industry and the expansion demands from overseas MNCs. The company has seen rapid growth in new orders, with the release of Phase II capacity in Malaysia shortening project cycles. Additionally, the acquisition of Pharmadue and Bioenhance has strengthened its biopharmaceutical capabilities, while the "MVP" digital solutions are driving rapid performance growth [1]

每经AI快讯，森松国际(02155.HK)一度涨超8%，截至发稿涨7.97%，报9.08港元，成交额2242.05万港 元。 每经AI快讯，森松国际(02155.HK)一度涨超8%，截至发稿涨7.97%，报9.08港元，成交额2242.05万港 元。 ...

Core Viewpoint - SenSong International (02155) has seen a significant increase in stock price, rising over 8% and currently trading at 9.08 HKD, with a trading volume of 22.42 million HKD. This surge is attributed to positive industry forecasts regarding the pharmaceutical sector and the company's strategic positioning in high-end pressure equipment [1]. Group 1: Industry Insights - According to Cinda Securities, the domestic market is expected to return to rationality starting in the second half of 2024, with gross margins gradually recovering to reasonable levels [1]. - The recovery in innovative drug financing and frequent BD transactions are driving a resurgence in Contract Manufacturing Organizations (CMOs), which is anticipated to positively impact the pharmaceutical equipment industry, suggesting a cyclical turnaround [1]. - Global strategic security backups and commitments from multinational pharmaceutical companies (MNCs) to invest domestically in the U.S. are expected to accelerate fixed asset expenditures in the pharmaceutical sector over the next three years [1]. Group 2: Company Performance - SenSong International is positioned as a leader in high-end pressure equipment, benefiting from the recovery in pharmaceutical industry capital expenditures (CAPEX) and the expansion demands from overseas MNCs [1]. - The company has experienced rapid growth in new orders, aided by the release of additional capacity in Malaysia and the acquisition of PharmaDo and BioEnhance, which strengthen its biopharmaceutical capabilities [1]. - The implementation of the "MVP" digital solution is driving significant performance growth for SenSong International [1].

Group 1 - The core viewpoint of the article highlights that SenSong International (02155) has seen a significant stock price increase, rising over 8% and reaching HKD 9.08, with a trading volume of HKD 22.42 million [1] - According to a report from Cinda Securities, the domestic market is expected to return to rationality starting in the second half of 2024, with gross margins gradually recovering to reasonable levels. This recovery is anticipated to be driven by a rebound in innovative drug financing and frequent BD transactions, leading to a revival in the CMO sector, which will gradually impact the pharmaceutical equipment industry and potentially achieve a cyclical reversal [1] - Open Source Securities reports that SenSong International, as a global leader in high-end pressure equipment, will benefit from the recovery of CAPEX in the pharmaceutical industry and the expansion demands from overseas MNCs. The company has seen rapid growth in new orders, with the release of Phase II capacity in Malaysia shortening project timelines. Additionally, the acquisition of Pharmadue and Bioenhance has strengthened its biopharmaceutical capabilities, while the "MVP" digital solutions are driving significant performance growth [1]

Group 1 - The core point of the news is that Southbound funds have reduced their holdings in Sensong International (02155.HK) by 162,000 shares on December 18, 2025, marking a total net reduction of 268,000 shares over the last five trading days and 8.692 million shares over the last 20 trading days [1][2] - As of now, Southbound funds hold 191 million shares of Sensong International, which represents 15.3% of the company's total issued ordinary shares [1][2] Group 2 - Sensong International Holdings Limited primarily engages in the manufacturing of pressure equipment and provides comprehensive pressure equipment solutions [2] - The company's main products include traditional pressure equipment such as heat exchangers, vessels, reactors, and towers, as well as modular pressure equipment including process modules and modular plants [2] - The company also offers value-added services such as design, validation, and maintenance of pressure equipment, operating in both domestic and overseas markets [2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 Morimatsu International Holdings Company Limited 森松國際控股有限公司 （ 於 香 港 註 冊 成 立 的 有 限 公 司 ） （股 份 代 號：2155） 有關租賃協議的 關連交易 根據上市規則第14.07條，本公司根據租賃協議確認的使用權資產估計價值的 最高適用百分比率超過0.1%但全部適用百分比率均低於5%，故訂立租賃協 議須遵守上市規則第14A章項下的申報及公告規定，惟獲豁免遵守通函（包括 獨立財務意見）及股東批准規定。 – 1 – 租賃協議 於2025年12月12日，本公司的附屬公司森松重工（作為承租人）與森松化工（作 為出租人）訂立租賃協議，據此，森松化工同意在租期內向森松重工租賃物業。 租賃協議的主要條款概述如下： 租賃協議 於2025年12月12日，本公司的附屬公司森松重工（作為承租人）與森松化工（作 為出租人）訂立租賃協議，據此，森松化工 ...

Group 1 - The core point of the news is that Southbound funds have reduced their holdings in Sensong International (02155.HK) by 2.607 million shares on December 11, 2025, marking a total net reduction of 5.538 million shares over the last five trading days and 8.062 million shares over the last twenty trading days [1][2] - As of now, Southbound funds hold 191 million shares of Sensong International, which accounts for 15.32% of the company's total issued ordinary shares [1][2] - The trading data indicates fluctuations in shareholding, with a decrease of 1.35% on December 11, 2025, following a slight increase of 0.32% on December 10, 2025, and a decrease of 1.10% on December 8, 2025 [2] Group 2 - Sensong International Holdings Limited primarily engages in the manufacturing of pressure equipment and provides comprehensive pressure equipment solutions [2] - The company's main products include traditional pressure equipment such as heat exchangers, vessels, reactors, and towers, as well as modular pressure equipment including process modules and modular plants [2] - Sensong International also offers value-added services such as design, validation, and maintenance of pressure equipment, operating in both domestic and overseas markets [2]

Group 1 - The core viewpoint of the article highlights the recent trading activity of Southbound funds in relation to Sensong International (02155.HK), indicating a net reduction in holdings over the past trading days [1] - Over the last 5 trading days, Southbound funds have reduced their holdings for 4 days, resulting in a total net reduction of 4.178 million shares [1] - In the last 20 trading days, there have been 12 days of net reductions, totaling 3.822 million shares [1] Group 2 - As of now, Southbound funds hold 193 million shares of Sensong International, which represents 15.48% of the company's total issued ordinary shares [1] - Sensong International Holdings Limited primarily engages in the manufacturing of pressure equipment and provides comprehensive pressure equipment solutions [1] - The company's main products include traditional pressure equipment such as heat exchangers, vessels, reactors, and towers, as well as modular pressure equipment like process modules and modular plants [1]