Core Viewpoint - The company, Zhaoyan New Drug (06127), has approved an investment of up to 8 million RMB in a private equity fund focused on brain science and related medical technologies [1] Investment Details - The investment will be made through the company's wholly-owned subsidiary, Beijing Zhaoyan Management Technology Co., Ltd., in collaboration with Beijing Chongde Yingsheng Investment Management Co., Ltd. and other partners [1] - The fund will primarily invest in new-generation medical devices, consumables, and drugs for the diagnosis and treatment of brain diseases [1] - The fund aims to prioritize investments in early-stage small and medium-sized enterprises located in the Changping area, with at least 50% of the total investment amount allocated to these enterprises [1]

本报讯 （记者李乔宇）8月27日，北京昭衍新药研究中心股份有限公司（以下简称"昭衍新药"）披露 2025年半年度报告。公告显示，今年上半年，昭衍新药实现营业收入6.69亿元，同比减少21.28%；实现 归属于上市公司股东的净利润6093.24万元，扭亏为盈。 2025年上半年，昭衍新药一如既往稳抓业务质量，强化业务操作规范性，保证数据真实性、准确性。同 时，昭衍新药持续开展人员的专业培训与能力提升工作，严格把关从方案设计、实验过程到报告交付的 质量，充分保证各项目的科学性和统一性。此外，昭衍新药进一步优化项目管理流程和质量管理体系， 从管理和技术创新等多个方面入手，合理有序地开展业务，提升客户满意度，为业务进一步增长提供有 力支撑。 （编辑 丛可心 张昕） 2025年上半年，昭衍新药始终坚持强化技术和业务创新，持续深耕。上半年，昭衍新药整体在手订单金 额约为23亿元，签署订单金额约为10.2亿元。 ...

Core Insights - The top three companies with the highest AH premium rates are Northeast Electric (00042) at 770.97%, Hongye Futures (03678) at 252.57%, and Andeli Juice (02218) at 238.08% [1][2] - The bottom three companies with the lowest AH premium rates are CATL (03750) at -18.73%, Midea Group (00300) at 6.86%, and Heng Rui Medicine (01276) at 7.43% [1][2] - The companies with the highest deviation values are Beijing Machinery (00187) at 32.43%, Andeli Juice (02218) at 29.55%, and Fudan Zhangjiang (01349) at 29.44% [1][3] - The companies with the lowest deviation values are BYD (01211) at -84.97%, Longpan Technology (02465) at -62.46%, and GAC Group (02238) at -26.17% [1][3] AH Premium Rate Rankings - The top AH stocks by premium rate include: - Northeast Electric (00042): H-share at 0.310 HKD, A-share at 2.25 CNY, premium rate 770.97%, deviation -23.02% [2] - Hongye Futures (03678): H-share at 4.280 HKD, A-share at 12.6 CNY, premium rate 252.57%, deviation 25.11% [2] - Andeli Juice (02218): H-share at 17.780 HKD, A-share at 50.18 CNY, premium rate 238.08%, deviation 29.55% [2] - The bottom AH stocks by premium rate include: - CATL (03750): H-share at 410.200 HKD, A-share at 278.3 CNY, premium rate -18.73%, deviation 1.21% [2] - Midea Group (00300): H-share at 81.500 HKD, A-share at 72.71 CNY, premium rate 6.86%, deviation -1.78% [2] - Heng Rui Medicine (01276): H-share at 72.500 HKD, A-share at 65.03 CNY, premium rate 7.43%, deviation 11.64% [2] Deviation Value Rankings - The top AH stocks by deviation value include: - Beijing Machinery (00187): H-share at 4.950 HKD, A-share at 13.24 CNY, premium rate 220.40%, deviation 32.43% [3] - Andeli Juice (02218): H-share at 17.780 HKD, A-share at 50.18 CNY, premium rate 238.08%, deviation 29.55% [3] - Fudan Zhangjiang (01349): H-share at 3.590 HKD, A-share at 10.06 CNY, premium rate 235.65%, deviation 29.44% [3] - The bottom AH stocks by deviation value include: - BYD (01211): H-share at 115.100 HKD, A-share at 110.68 CNY, premium rate 15.18%, deviation -84.97% [3] - Longpan Technology (02465): H-share at 10.320 HKD, A-share at 14.37 CNY, premium rate 66.76%, deviation -62.46% [3] - GAC Group (02238): H-share at 3.690 HKD, A-share at 7.88 CNY, premium rate 155.83%, deviation -26.17% [3]

证券代码：603127 证券简称：昭衍新药 公告编号：2025-031 北京昭衍新药研究中心股份有限公司 第四届董事会第十五次会议决议公告 表决结果：董事会以 9 票赞成、0 票反对、0 票弃权的表决结果通过该议案。 上述议案已经公司董事会审计委员会审议通过，同意相关内容并同意提交公 司董事会审议。 具体内容详见公司于同日在上海证券交易所网站（www.sse.com.cn）及公司 指定信息披露媒体《上海证券报》披露的《北京昭衍新药研究中心股份有限公司 公司董事会同意公司或其指定子公司与专业投资机构合作参与投资设立基 金，公司或其指定子公司作为有限合伙人认缴出资不超过 1,000 万元人民币。 表决结果：董事会以 9 票赞成、0 票反对、0 票弃权的表决结果通过该议案。 上述议案已经公司董事会战略委员会审议通过，同意相关内容并同意提交公 司董事会审议。 具体内容详见公司于同日在上海证券交易所网站（www.sse.com.cn）及公司 指定信息披露媒体《上海证券报》披露的《昭衍新药关于与专业投资机构合作参 与投资设立基金的公告》。 特此公告。 北京昭衍新药研究中心股份有限公司董事会 本公司董事会及全体董事保证本公 ...

证券简称：昭衍新药 证券代码：603127 公告编号：2025-032 北京昭衍新药研究中心股份有限公司 关于与专业投资机构合作参与投资设立基金的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性 陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： ? 基金名称：深圳市倚锋光明科学城种子基金（有限合伙） （暂定名，具体 名称以工商行政管理机构核定名称为准） ? 投资金额：北京昭衍新药研究中心股份有限公司（以下简称"公司"）或 其指定子公司拟作为深圳市倚锋光明科学城种子基金（有限合伙）有限合伙人， 认缴出资额不超过 1,000 万元人民币。 ? 相关风险提示：截至本公告日，公司或其指定子公司尚未与相关各方签 署合伙协议（以下简称"《合伙协议》"），《合伙协议》尚需履行内部流程。该基 金尚处于筹备阶段，能否顺利完成备案以及完成时间尚存在不确定性；由于股权 投资基金具有较长的投资周期，公司本次投资可能面临较长的投资回收期，且收 益具有一定的不确定性；本次投资基金在投资过程中将受宏观经济、产业政策、 行业周期、投资标的经营管理等多种因素影响，存在投资效益不达预期的风险 ...

Group 1 - The company will hold a half-year performance briefing on September 5, 2025, from 16:00 to 17:00 [1][2] - The meeting will take place at the Shanghai Stock Exchange Roadshow Center and will be conducted in an interactive online format [1][2] - Investors can submit questions from August 29, 2025, to September 4, 2025, before 16:00, either through the Roadshow Center website or via the company's email [1][2] Group 2 - Key personnel attending the meeting include the General Manager, Secretary of the Board, and the Chief Financial Officer [2] - After the briefing, investors can access the meeting's details and main content through the Shanghai Stock Exchange Roadshow Center [2]

Group 1 - The company has received a total of government subsidies amounting to RMB 28.85 million, which includes RMB 14.48 million related to income and RMB 14.37 million related to assets [1] - The income-related subsidies represent 19.55% of the company's audited net profit attributable to shareholders for the most recent fiscal year, while the asset-related subsidies account for 0.18% of the audited net assets [1] - The income-related government subsidies will be recognized as other income, with an expected impact of RMB 12.43 million on the 2025 profit and loss statement [1] Group 2 - The asset-related government subsidies will be recognized as deferred income, which will be amortized into the profit and loss statement over the estimated useful life of the related assets [1] - The specific accounting treatment and its impact on the company's annual profit will be confirmed after the annual audit by the accountant [1]

Summary of Key Points Core Viewpoint - The company has announced the provision for asset impairment for the first half of 2025, reflecting a need to accurately represent its financial status and operational results as of June 30, 2025 [1][2]. Group 1: Asset Impairment Provision Overview - The company conducted impairment testing on various assets as of June 30, 2025, resulting in a total asset impairment provision of 60.6191 million RMB [1]. - The breakdown of the impairment losses includes a credit impairment loss of 5.3914 million RMB and an asset impairment loss of 66.0105 million RMB [1]. Group 2: Specifics of the Impairment Provision - The company recognized impairment losses based on expected credit losses for accounts receivable, contract assets, and other receivables, leading to a total provision for bad debt [1]. - The impairment loss for long-term deferred expenses amounted to 10.4693 million RMB, indicating signs of impairment as of the balance sheet date [1]. - The provision will reduce the equity attributable to shareholders by 54.1420 million RMB as of June 30, 2025, and is in compliance with relevant accounting standards and company policies [2].

（文章来源：证券日报） 证券日报网讯 8月26日晚间，昭衍新药发布公告称，2025年1月1日至本公告披露日，公司及公司下属子 公司累计收到各类政府补助共计人民币2，885.28万元（数据未经审计）。 ...

格隆汇8月26日丨昭衍新药(603127.SH)公布，2025年1月1日至本公告披露日，及公司下属子公司累计收 到各类政府补助共计人民币2,885.28万元（数据未经审计）。其中，与收益相关的政府补助1,448.08万 元，占公司最近一个会计年度经审计的归属于上市公司股东净利润的比例为19.55%；与资产相关的政 府补助1,437.20万元，占公司最近一个会计年度经审计的归属于上市公司股东净资产的比例为0.18%。 ...