Core Viewpoint - The report highlights the AH premium rates of various companies, indicating significant discrepancies between their A-shares and H-shares, with Northeast Electric (00042) leading with a premium rate of 864.29% [1] AH Premium Rate Rankings - The top three companies with the highest AH premium rates are: - Northeast Electric (00042): 864.29% - Andeli Juice (02218): 227.40% - Hongye Futures (03678): 225.67% [1] - The bottom three companies with the lowest AH premium rates are: - Ningde Times (03750): -12.07% - Heng Rui Medicine (01276): -3.97% - Zijin Mining (02899): 4.14% [1] Deviation Value Rankings - The top three companies with the highest deviation values are: - Northeast Electric (00042): 74.37% - Changfei Optical Fiber (06869): 24.77% - Zhaoyan New Drug (06127): 22.94% [1] - The bottom three companies with the lowest deviation values are: - Longpan Technology (02465): -25.07% - Qin Port Shares (03369): -19.33% - COSCO Shipping Energy (01138): -15.04% [1] Detailed AH Stock Premium and Deviation Data - The report provides detailed tables showing the premium rates and deviation values for the top and bottom AH stocks, indicating significant variations in market perception and valuation between A-shares and H-shares [1][2]

Core Insights - The article highlights the top and bottom AH premium rates for various stocks as of September 22, with Northeast Electric (00042) leading at 831.03% and CATL (03750) at -13.26% [1][2]. AH Premium Rate Rankings - The top three stocks with the highest AH premium rates are: - Northeast Electric (00042): H-share at 0.290 HKD, A-share at 2.25 CNY, premium rate of 831.03%, deviation value of 43.11% [1]. - Andeli Juice (02218): H-share at 16.540 HKD, A-share at 45.25 CNY, premium rate of 227.69%, deviation value of -1.28% [1]. - Hongye Futures (03678): H-share at 4.200 HKD, A-share at 11.38 CNY, premium rate of 224.52%, deviation value of -11.54% [1]. - The bottom three stocks with the lowest AH premium rates are: - CATL (03750): H-share at 511.000 HKD, A-share at 370.05 CNY, premium rate of -13.26%, deviation value of 1.89% [1]. - Heng Rui Medicine (01276): H-share at 90.000 HKD, A-share at 71.05 CNY, premium rate of -5.44%, deviation value of -4.32% [1]. - Zijin Mining (02899): H-share at 29.540 HKD, A-share at 25.37 CNY, premium rate of 2.88%, deviation value of -3.50% [1]. Deviation Value Rankings - The top three stocks with the highest deviation values are: - Northeast Electric (00042): premium rate of 831.03%, deviation value of 43.11% [2]. - Changfei Optical Fiber (06869): premium rate of 130.35%, deviation value of 26.09% [2]. - China Foreign Transportation (00598): premium rate of 67.13%, deviation value of 18.35% [2]. - The bottom three stocks with the lowest deviation values are: - Longpan Technology (02465): premium rate of 61.72%, deviation value of -25.04% [3]. - Qin Port Co. (03369): premium rate of 53.16%, deviation value of -21.72% [3]. - Longyuan Power (00916): premium rate of 163.85%, deviation value of -19.33% [3].

Core Viewpoint - The company, Zhaoyan New Drug (603127), has made a significant investment in financial products, which is expected to enhance its capital returns without affecting its financial stability or operational liquidity [1]. Group 1: Stock Performance - As of September 19, 2025, Zhaoyan New Drug's stock closed at 38.38 CNY, down 4.43% from the previous trading day [1]. - The stock opened at 39.5 CNY, reached a high of 40.55 CNY, and a low of 38.3 CNY, with a trading volume of 1.336 billion CNY and a turnover rate of 5.42% [1]. Group 2: Investment Announcement - The company announced that its subsidiary, Zhaoyan (Suzhou) New Drug, subscribed to two financial products from Industrial and Commercial Bank of China, totaling 40 million CNY [1]. - Including previously unredeemed products, the total investment amounts to 410 million CNY [1]. - The financial products are non-principal guaranteed, floating yield type, with no fixed term and flexible redemption arrangements [1]. Group 3: Regulatory Compliance - The investment constitutes a disclosure transaction as the combined applicable percentage rate is above 5% but below 25%, requiring compliance with notification and announcement regulations, but exempt from shareholder approval [1]. - The board believes that subscribing to these products will enhance capital returns and is in the overall interest of the company and its shareholders [1].

香港联交所最新资料显示，9月16日，富达国际减持昭衍新药（603127）(06127)161.08万股，每股均价 21.5742港元，总金额约为3475.17万港元。减持后最新持股数目为1145.48万股，最新持股比例为 9.63%。 本交易涉及其他关联方：Pandanus Associates Inc.、Pandanus Partners L.P.。 ...

本交易涉及其他关联方：Pandanus Associates Inc.、Pandanus Partners L.P.。 智通财经APP获悉，香港联交所最新资料显示，9月16日，富达国际减持昭衍新药(06127)161.08万股， 每股均价21.5742港元，总金额约为3475.17万港元。减持后最新持股数目为1145.48万股，最新持股比例 为9.63%。 ...

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Group 1 - The core point of the article is that Zhaoyan New Drug (06127.HK) has entered into an agreement with Industrial and Commercial Bank of China to subscribe to two wealth management products totaling RMB 40 million, bringing the total investment amount to RMB 410 million as of the announcement date [1] - As of September 19, 2025, Zhaoyan New Drug's stock closed at HKD 23.38, down 2.83%, with a trading volume of 6.0081 million shares and a turnover of HKD 140 million [1] - Investment banks predominantly rate Zhaoyan New Drug as a strong buy, with two firms issuing strong buy ratings in the last 90 days, including a recent report from China Merchants Securities [1] Group 2 - Zhaoyan New Drug has a market capitalization of HKD 2.863 billion, ranking 14th in the medical services sector [1] - Key performance indicators for Zhaoyan New Drug compared to the industry average are as follows: ROE at 3.74% (industry average 0.02%), revenue at RMB 1.838 billion (industry average RMB 3.832 billion), net profit margin at 9.11% (industry average -843.36%), gross margin at 15.7% (industry average 39.76%), and debt ratio at 14.44% (industry average 74.15%) [1]

Core Viewpoint - Zhaoyan New Drug (06127.HK) announced an investment in two Industrial and Commercial Bank of China wealth management products totaling RMB 40 million, bringing the total investment in such products to RMB 410 million as of the announcement date [1] Group 1 - The company has subscribed to two wealth management products from the Industrial and Commercial Bank of China [1] - The total investment amount in these wealth management products is RMB 410 million, which includes the newly subscribed amount and the amount that has not yet been redeemed [1]

Group 1 - The company, Zhaoyan New Drug (603127), announced an agreement with Industrial and Commercial Bank of China to subscribe to two wealth management products totaling RMB 40 million [1] - The total investment amount in these wealth management products, including those not yet redeemed as of the announcement date, is RMB 410 million [1]

Group 1 - The company, Zhaoyan New Drug (06127), announced an agreement with Industrial and Commercial Bank of China to subscribe to two wealth management products totaling RMB 40 million [1] - The total investment amount in these wealth management products, including those not yet redeemed as of the announcement date, is RMB 410 million [1]