据介绍，该模块化生物制剂生产厂将配备先进的生产线、支持全面放行和稳定性测试的质量控制(QC) 中心实验室，以及生产科技与技术(MSAT)实验室，显著提升公司端到端的制剂服务能力。该制剂厂配 备3条预充针(PFS)生产线和2条西林瓶液体和冻干粉针生产线，将提供覆盖临床和商业化阶段的一体化 制剂生产服务，支持多种剂型生产。药明生物践行可持续发展承诺，该厂将采用太阳能等绿色技术，并 配备先进的能源监测与分析系统等，预计于2027年正式投入运营。 此外，药明生物新加坡CRDMO中心的模块化原液(DS)生产厂已处于设计阶段。 消息面上，据药明生物官微消息，7月29日，公司宣布新加坡CRDMO中心的模块化生物制剂生产厂启 动建设。在药明生物与森松法玛度(Pharmadule Morimatsu)的战略合作下，470个主体模块正在森松法玛 度常熟工厂内制造，后续将运抵新加坡大士生物医药园进行安装。该项目建成后总建筑面积约30000平 方米，将成为全球规模最大的模块化生物制剂生产设施之一。 智通财经APP获悉，药明生物(02269)再涨超3%，截至发稿，涨2.83%，报34.55港元，成交额13.87亿港 元。 ...

消息面上，据药明生物官微消息，7月29日，公司宣布新加坡CRDMO中心的模块化生物制剂生产厂启 动建设。在药明生物与森松法玛度(Pharmadule Morimatsu)的战略合作下，470个主体模块正在森松法玛 度常熟工厂内制造，后续将运抵新加坡大士生物医药园进行安装。该项目建成后总建筑面积约30000平 方米，将成为全球规模最大的模块化生物制剂生产设施之一。 据介绍，该模块化生物制剂生产厂将配备先进的生产线、支持全面放行和稳定性测试的质量控制(QC) 中心实验室，以及生产科技与技术(MSAT)实验室，显著提升公司端到端的制剂服务能力。该制剂厂配 备3条预充针(PFS)生产线和2条西林瓶液体和冻干粉针生产线，将提供覆盖临床和商业化阶段的一体化 制剂生产服务，支持多种剂型生产。药明生物践行可持续发展承诺，该厂将采用太阳能等绿色技术，并 配备先进的能源监测与分析系统等，预计于2027年正式投入运营。 药明生物(02269)再涨超3%，截至发稿，涨2.83%，报34.55港元，成交额13.87亿港元。 此外，药明生物新加坡CRDMO中心的模块化原液(DS)生产厂已处于设计阶段。 ...

| 公司名称 | 持股数量 | 最新持股比例 | | --- | --- | --- | | 中国电信(00728) | 103.66亿股 | 74.69% | | 绿色动力环保(01330) | 2.83亿股 | 69.97% | | 中国神华(01088) | 22.60亿股 | 66.91% | | 天津创业环保股份(01065) | 2.20亿股 | 64.57% | | 弘业期货(03678) | 1.59亿股 | 63.78% | | 新天绿色能源(00956) | 11.68亿股 | 63.49% | | 凯盛新能(01108) | 1.58亿股 | 63.22% | | 南方恆生科技(03033) | 55.92亿股 | 62.77% | | 白云山(00874) | 1.38亿股 | 62.70% | | 復星医药(02196) | 3.43亿股 | 62.21% | | 浙江世宝(01057) | 1.31亿股 | 60.36% | | 昊天国际建投(01341) | 46.54亿股 | 60.07% | | 京基金融国际(01468) | 10.42亿股 | 59.98% | | 东方证 ...

Key Points - The top three stocks with net inflow of southbound funds are BYD Company (01211) with 14.916 billion, Yinhua Fund (02800) with 7.287 billion, and Hang Seng China Enterprises (02828) with 2.288 billion [1][2] - The top three stocks with net outflow of southbound funds are Kuaishou-W (01024) with -0.667 billion, China Mobile (00941) with -0.519 billion, and WuXi Biologics (02269) with -0.322 billion [1][2] - In terms of net inflow ratio, BYD Company (01211) leads with 439.44%, followed by Bank of China Aviation Leasing (02588) with 61.50%, and Shenzhen Expressway Company (00548) with 58.69% [1][2] - The top three stocks with the highest net outflow ratio are Chongqing Rural Commercial Bank (03618) at -59.13%, Swire Properties (01972) at -49.77%, and Standard Chartered Group (02888) at -46.27% [1][2] Net Inflow Rankings - The top ten stocks by net inflow include: - BYD Company (01211): 14.916 billion, 439.44%, closing price 129.600 (-1.89%) [2] - Yinhua Fund (02800): 7.287 billion, 32.42%, closing price 25.880 (-1.07%) [2] - Hang Seng China Enterprises (02828): 2.288 billion, 13.81%, closing price 93.620 (-1.10%) [2] Net Outflow Rankings - The top ten stocks by net outflow include: - Kuaishou-W (01024): -0.667 billion, -13.47%, closing price 72.500 (-4.86%) [2] - China Mobile (00941): -0.519 billion, -28.60%, closing price 86.550 (-0.86%) [2] - WuXi Biologics (02269): -0.322 billion, -11.41%, closing price 31.500 (+5.53%) [2] Net Inflow Ratio Rankings - The top stocks by net inflow ratio include: - BYD Company (01211): 439.44%, 14.916 billion, closing price 129.600 (-1.89%) [2] - Bank of China Aviation Leasing (02588): 61.50%, 24.3857 million, closing price 74.700 (0.00%) [3] - Shenzhen Expressway Company (00548): 58.69%, 10.1284 million, closing price 6.900 (-0.43%) [3] Net Outflow Ratio Rankings - The top stocks by net outflow ratio include: - Chongqing Rural Commercial Bank: -59.13%, -1.08 billion, closing price 6.430 (-3.89%) [3] - Swire Properties (01972): -49.77%, -23.1478 million, closing price 20.550 (-0.48%) [3] - Standard Chartered Group (02888): -46.27%, -76.9779 million, closing price 142.500 (-0.70%) [3]

Core Viewpoint - The CXO sector in China is showing signs of recovery, with several companies, including WuXi AppTec, announcing a return to growth in their mid-term performance forecasts [1] Company Performance - WuXi AppTec has raised its full-year sales forecast, expecting a return to double-digit growth in revenue for its continuing operations by 2025, with the growth rate adjusted from 10%-15% to 13%-17% [1] - In the first half of the year, WuXi AppTec reported revenue of 20.799 billion yuan, a year-on-year increase of 20.64%, and a net profit attributable to shareholders of 8.561 billion yuan, up 101.92% [1] - In the second quarter, WuXi AppTec achieved a record revenue of 11.145 billion yuan and a net profit of 4.889 billion yuan [1] Industry Insights - According to CICC, the expected increase in business development funds and secondary market activity will boost domestic new drug research and development demand, as well as enhance the financing activity of primary innovative drug projects, benefiting domestic companies [1] - The cost and efficiency advantages of Chinese companies are attracting overseas clients, leading to a positive trend in external demand orders [1]

Core Viewpoint - On July 25, the Hang Seng Index fell by 1.09%, closing at 25,388.35 points, while southbound funds through the Stock Connect recorded a net purchase of HKD 20.184 billion [1][2]. Group 1: Market Activity - The total trading volume for the Stock Connect on July 25 was HKD 148.55 billion, with a net purchase of HKD 20.184 billion [1]. - The Shanghai Stock Connect accounted for HKD 92.243 billion in trading volume, with a net purchase of HKD 11.474 billion, while the Shenzhen Stock Connect had a trading volume of HKD 56.308 billion and a net purchase of HKD 8.710 billion [1]. Group 2: Active Stocks - The most actively traded stock in the Shanghai Stock Connect was the Tracker Fund of Hong Kong (盈富基金), with a trading volume of HKD 49.37 billion and a net purchase of HKD 49.02 billion, despite a closing price drop of 1.07% [1][2]. - Other notable stocks included SMIC (中芯国际) and Alibaba (阿里巴巴-W), with trading volumes of HKD 40.80 billion and HKD 26.25 billion, respectively [1]. - In the Shenzhen Stock Connect, the Tracker Fund of Hong Kong also led with a trading volume of HKD 24.22 billion and a net purchase of HKD 23.78 billion, while the stock closed down by 1.07% [2].

Core Insights - The Hang Seng Index fell by 1.09% on July 25, with southbound trading totaling HKD 148.55 billion, including HKD 84.37 billion in buying and HKD 64.18 billion in selling, resulting in a net buying amount of HKD 20.18 billion [1] Trading Activity - The most active stock in southbound trading was the Tracker Fund of Hong Kong (盈富基金), with a total trading amount of HKD 73.58 billion and a net buying amount of HKD 72.80 billion, despite a closing price drop of 1.07% [1][2] - Other notable stocks included SMIC (中芯国际) with a trading amount of HKD 64.69 billion and a net buying of HKD 7.82 billion, and Alibaba (阿里巴巴-W) with a trading amount of HKD 45.97 billion and a net buying of HKD 8.24 million [2] Net Buying and Selling - A total of 9 stocks experienced net buying, with the Tracker Fund of Hong Kong leading at HKD 72.80 billion, followed by the Hang Seng China Enterprises Index (恒生中国企业) with HKD 14.35 billion and China Life (中国人寿) with HKD 9.55 billion [1] - The stock with the highest net selling was Kuaishou (快手-W), with a net selling amount of HKD 6.67 billion and a closing price drop of 4.86% [1][2]

Core Viewpoint - On July 25, WuXi Biologics made its first appearance on the Hong Kong Stock Connect active trading list in a month, indicating increased investor interest in the stock [2]. Group 1: Trading Activity - On July 25, the total trading volume of active stocks on the Hong Kong Stock Connect reached HKD 420.49 billion, accounting for 28.31% of the day's total trading amount [2]. - The net buying amount for the day was HKD 110.89 billion [2]. - The top three stocks by trading volume were: - Tracker Fund of Hong Kong (HKD 73.58 billion) - SMIC (HKD 64.69 billion) - Alibaba-W (HKD 45.97 billion) [2]. Group 2: Stock Performance - WuXi Biologics had a trading volume of HKD 10.13 billion on the same day, with a net sell amount of HKD 1.98 billion, and its stock price increased by 5.53% [2]. - The stocks with the highest number of appearances on the active trading list over the past month were Alibaba-W and Guotai Junan International, each appearing 21 times, indicating strong interest from Hong Kong Stock Connect funds [2].

Core Insights - On July 25, 2025, the top three companies by trading volume in the southbound Shanghai-Hong Kong Stock Connect were Yingfu Fund (02800), SMIC (00981), and Alibaba-W (09988) with trading volumes of 4.937 billion, 4.080 billion, and 2.625 billion respectively [1] - The same companies also led the trading volume in the southbound Shenzhen-Hong Kong Stock Connect, with volumes of 2.422 billion, 2.389 billion, and 1.971 billion respectively [1] Southbound Shanghai-Hong Kong Stock Connect - The top active trading companies included: - Yingfu Fund (02800) with a trading amount of 4.937 billion and a net buying amount of 4.902 billion [2] - SMIC (00981) with a trading amount of 4.080 billion and a net buying amount of 0.444 billion [2] - Alibaba-W (09988) with a trading amount of 2.625 billion and a net buying amount of 0.139 billion [2] - Other notable companies included Tencent Holdings (00700) with 2.247 billion and a net buying amount of 0.248 billion, and Xiaomi Group-W (01810) with 2.200 billion and a net buying amount of 0.547 billion [2] Southbound Shenzhen-Hong Kong Stock Connect - The top active trading companies included: - Yingfu Fund (02800) with a trading amount of 2.422 billion and a net buying amount of 2.378 billion [2] - SMIC (00981) with a trading amount of 2.389 billion and a net buying amount of 0.338 billion [2] - Alibaba-W (09988) with a trading amount of 1.971 billion and a net selling amount of 0.568 billion [2] - Other notable companies included Tencent Holdings (00700) with 1.830 billion and a net selling amount of 0.128 billion, and Meituan-W (03690) with 1.631 billion and a net buying amount of 0.206 billion [2]

Group 1 - The Hong Kong stock market saw a net inflow of 201.84 billion HKD from Northbound trading on July 25, with 114.74 billion HKD from Shanghai and 87.1 billion HKD from Shenzhen [1] - The most bought stocks included the Tracker Fund of Hong Kong (02800), Hang Seng China Enterprises (02828), and China Life (02628), while Guotai Junan International (01788) was the most sold stock [1][9] Group 2 - The Tracker Fund of Hong Kong (02800) received a net inflow of 49.19 billion HKD, while China Life (02628) saw a net inflow of 9.54 billion HKD, attributed to its perceived value as a substitute for Chinese interest rates [6][7] - Semiconductor company SMIC (00981) had a net inflow of 7.81 billion HKD, driven by optimistic growth projections in the global semiconductor market [7] - Meituan (03690), Tencent (00700), and Alibaba (09988) also experienced net inflows of 3.3 billion HKD, 1.19 billion HKD, and 823.6 million HKD respectively, as market expectations for their upcoming earnings reports remain high [7] Group 3 - Three-Six Bio (01530) received a net inflow of 3.15 billion HKD following the establishment of a licensing agreement with Pfizer for a dual-specific antibody [8] - Xiaomi Group (01810) attracted a net inflow of 7.7 billion HKD, while Guotai Junan International (01788) faced a net outflow of 1.16 billion HKD [9]