Group 1 - The Hong Kong stock market for innovative drug concept stocks has experienced a significant upward trend, with notable gains in several companies [1] - Nocare Pharma (09969.HK) has seen an increase of over 10%, while Genscript Biotech (01672.HK) has risen by more than 7% [1] - Other companies such as Kelun-Biotech (06990.HK), Sihuan Pharmaceutical (02096.HK), and WuXi AppTec (02359.HK) have also followed suit with upward movements in their stock prices [1]

高盛 公司将 药明康德 A股评级上调至买进；目标价132.70元人民币。 ...

Core Viewpoint - The Hong Kong biotechnology sector is experiencing a significant upward trend, with notable gains in various stocks, indicating positive market sentiment in the industry [1] Group 1: Stock Performance - Nocare Biopharma (09969.HK) has seen an increase of over 4% [1] - Other companies such as Zai Lab (09688.HK), WuXi AppTec (02359.HK), WuXi Biologics (02269.HK), and Innovent Biologics (02696.HK) are also witnessing upward movement in their stock prices [1]

Core Viewpoint - The report highlights the premium rates of AH shares, with Northeast Electric, Zhejiang Shibao, and Sinopec Oilfield Services leading in premium rates, while CATL, China Merchants Bank, and WuXi AppTec are at the bottom of the list [1][2]. Premium Rate Rankings - The top three AH shares by premium rate are: - Northeast Electric (00042) with a premium rate of 815.25% - Zhejiang Shibao (01057) with a premium rate of 351.07% - Sinopec Oilfield Services (01033) with a premium rate of 303.37% [2] - The bottom three AH shares by premium rate are: - CATL (03750) with a premium rate of -12.99% - China Merchants Bank (03968) with a premium rate of -1.83% - WuXi AppTec (02359) with a premium rate of 3.29% [2] Deviation Values - The top three shares by deviation value are: - Guoen Technology (02768) with a deviation value of 64.57% - Goldwind Technology (02208) with a deviation value of 30.74% - Sinopec Oilfield Services (01033) with a deviation value of 27.72% [1][2] - The bottom three shares by deviation value are: - Junda Co., Ltd. (02865) with a deviation value of -49.44% - Zhejiang Shibao (01057) with a deviation value of -46.76% - Yangtze Optical Fibre and Cable (06869) with a deviation value of -34.58% [1][3].

Core Viewpoint - WuXi AppTec is experiencing growth due to its position as a leading Contract Research Organization (CRO) and its benefits from the depreciation of the Renminbi, with a significant portion of its revenue coming from overseas markets [2][3]. Company Overview - WuXi AppTec is an international leader in providing integrated new drug research and production services for the global biopharmaceutical industry, focusing on small molecule chemical drug discovery, development, and production [2]. - The company has a comprehensive platform service model that caters to global pharmaceutical companies, including medical device testing and precision medical research and production services abroad [2]. - As of September 30, 2025, WuXi AppTec reported a revenue of 32.857 billion yuan, representing a year-on-year growth of 18.61%, and a net profit of 12.076 billion yuan, with an impressive growth of 84.84% [7]. Financial Performance - The company’s overseas revenue accounted for 78.67% of its total revenue, benefiting from the depreciation of the Renminbi [3]. - The main business revenue composition includes chemical business (78.37%), testing business (12.93%), biological business (6.02%), and other services [7]. - WuXi AppTec has distributed a total of 14.06 billion yuan in dividends since its A-share listing, with 10.406 billion yuan distributed over the past three years [8]. Market Activity - On February 4, the stock price of WuXi AppTec increased by 1.07%, with a trading volume of 3.14 billion yuan and a turnover rate of 1.34%, leading to a total market capitalization of 285.277 billion yuan [1]. - The stock has seen a net inflow of 118 million yuan from major investors, indicating a positive sentiment in the market [4][5].

Core Viewpoint - The pharmaceutical sector is experiencing a mixed performance in 2025, with a significant number of companies forecasting profit increases, while others are facing substantial losses. Group 1: Profit Forecasts - A total of 283 pharmaceutical stocks have disclosed their 2025 earnings forecasts, with 160 companies expecting year-on-year profit growth. Among these, Sino Medical has the highest projected increase, with an expected profit growth of over 32 times [1][4]. - WuXi AppTec is anticipated to achieve a record net profit of 19.15 billion yuan, marking the highest since its listing. This includes nearly 5.6 billion yuan in non-recurring gains from the sale of equity interests [6]. - Sino Medical's projected net profit for 2025 is between 43 million and 50 million yuan, reflecting a year-on-year increase of 2,767% to 3,233%. The growth is attributed to stable revenue from its neuro-interventional business and a 22% increase in its coronary intervention business due to the implementation of a national procurement policy [4][5]. Group 2: Loss Forecasts - Over 120 companies are forecasting profit declines for 2025, with 39 facing their first losses since going public, including companies like Zhifei Biological and Zhenbao Island. Zhifei is expected to report a loss of between 10.698 billion and 13.726 billion yuan, a decline of 630% to 780% compared to the previous year [2][8]. - Zhenbao Island anticipates a net loss of between 1.012 billion and 1.173 billion yuan, attributed to delays in the procurement process and increased cost control measures [8]. - Huiyu Pharmaceutical's losses are primarily due to non-core investment losses, with a fair value loss of 173 million yuan from its investment in Zhejiang Tongyuan Kang Pharmaceutical [9]. Group 3: Innovative Drug Companies - The innovative drug sector is showing signs of recovery, with companies like Nocera and Rongchang Biopharma expected to turn losses into profits. Nocera forecasts a net profit of approximately 633 million yuan, a significant increase from the previous year [3][11]. - Rongchang Biopharma is also expected to achieve profitability with projected revenues of around 3.25 billion yuan, a year-on-year increase of about 89% [11]. - Companies like Junshi Biosciences are reducing their losses significantly, with an expected net loss of around 873 million yuan, a reduction of 408 million yuan compared to the previous year [11][12].

截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 無錫藥明康德新藥開發股份有限公司 呈交日期: 2026年2月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02359 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 510,476,909 | RMB | | 1 | RMB | | 510,476,909 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 510,476,909 | RMB | | 1 | RMB | | 510,476,909 | | 2. 股份分類 | 普通股 | A 股份類別 | | | 於香港聯交所上市 (註1) | | 否 ...

| 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02359 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 510,476,909 | RMB | | 1 | RMB | | 510,476,909 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 510,476,909 | RMB | | 1 | RMB | | 510,476,909 | 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 無錫藥明康德新藥開發股份有限公司 呈交日期: 2026年2月3日 I. 法定/註冊股本變動 | 2. 股份分類 ...

Core Insights - The global CXO industry is entering a new phase, with leading companies adopting a strategy to build a "diversified yet centralized" global network [1] - Due to geopolitical tensions and fluctuating tariff policies, global pharmaceutical outsourcing companies need to implement cross-regional diversification strategies to balance local and overseas production capacities [1] - WuXi AppTec's (药明康德) strategic deployment over the past few years aligns with this industry consensus, demonstrating its effectiveness through consistently exceeding performance expectations [1] Financial Performance - WuXi AppTec expects total revenue to reach 45.46 billion yuan in 2025, representing a year-on-year increase of 15.84%, with a 21.40% increase in revenue from continuing operations [1] - The adjusted Non-IFRS net profit attributable to the parent company is projected to be 14.96 billion yuan, reflecting a year-on-year growth of 41.3% [1] - The company is set to achieve record-high free cash flow in 2025, supported by capital expenditures of 5.5 to 6 billion yuan [3] Global Operations - WuXi AppTec has established a global operational system with over 20 R&D and production bases across Asia, Europe, and North America, serving approximately 6,000 clients [5] - The company is accelerating global capacity expansion to create a flexible and reliable global supply chain network, which will be crucial for capturing global market opportunities [5] Strategic Partnerships - In addition to consolidating traditional markets, WuXi AppTec has made strategic moves into emerging regions, signing memorandums of understanding with NEOM and the Saudi Ministry of Health [7] - These partnerships lay the groundwork for establishing a world-class CRDMO R&D and production base in NEOM and other areas in Saudi Arabia, marking a significant step in expanding its global network into the Middle East [7]

2月2日，药明康德跌2.10%，成交额34.25亿元。两融数据显示，当日药明康德获融资买入额2.07亿元， 融资偿还3.14亿元，融资净买入-1.07亿元。截至2月2日，药明康德融资融券余额合计63.64亿元。 分红方面，药明康德A股上市后累计派现140.60亿元。近三年，累计派现104.06亿元。 机构持仓方面，截止2025年9月30日，药明康德十大流通股东中，香港中央结算有限公司位居第二大流 通股东，持股2.49亿股，相比上期减少5260.71万股。华夏上证50ETF（510050）位居第七大流通股东， 持股4778.07万股，相比上期减少121.71万股。华泰柏瑞沪深300ETF（510300）位居第八大流通股东， 持股4268.15万股，相比上期减少188.65万股。中欧医疗健康混合A（003095）、易方达沪深300医药ETF （512010）退出十大流通股东之列。 声明：市场有风险，投资需谨慎。本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本文 出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 责任编辑： ...