截至月份: 2025年12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: 北京昭衍新藥研究中心股份有限公司 呈交日期: 2026年1月5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) | 06127 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 118,995,206 | RMB | | 1 RMB | | 118,995,206 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 118,995,206 | RMB | | 1 RMB | | 118,995,206 | | 2. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- ...

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: 2025年12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: 北京昭衍新藥研究中心股份有限公司 FF301 由於北京昭衍新藥研究中心股份有限公司(「本公司」)是於中華人民共和國註冊成立，因此" 法定股本"之概念不適用於本公司。第 I 部分所載資料是指本公司的"已發行股本"。 呈交日期: 2026年1月5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) | 06127 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 118,995,206 | RMB | | 1 RMB | | 118,995,206 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 ...

每经AI快讯，CRO概念股表现强势。截至发稿，昭衍新药(06127.HK)涨11.52%，报22.26港元；泰格医 药(03347.HK)涨5.98%，报44.98港元；药明康德(02359.HK)涨4.65%，报105.7港元；康龙化成 (03759.HK)涨4.59%，报20.74港元。 （文章来源：每日经济新闻） ...

Group 1 - CRO concept stocks are performing strongly, with notable increases in share prices: Zhaoyan New Drug up 11.52% to HKD 22.26, Tigermed up 5.98% to HKD 44.98, WuXi AppTec up 4.65% to HKD 105.7, and Kanglong Chemical up 4.59% to HKD 20.74 [1] - Huafu Securities reports that external demand for CXO companies has significantly improved since 2024, with a recovery in year-on-year growth expected from Q4 2024 through Q3 2025, indicating a clear trend of industry rebound [1] - Yongxing Securities notes that the domestic CXO industry is experiencing an upward trend in light of improved investment and financing conditions for innovative drugs, with strong demand for specialized CDMO services driven by the expanding market for emerging fields such as peptides, CGT, ADC, and nucleic acid drugs [1] Group 2 - The domestic CXO sector has shown relatively weaker performance compared to external demand since the beginning of 2025, but there is a strong certainty of recovery from the front-end to the back-end, suggesting potential left-side opportunities [1] - Chinese CDMO companies are expected to open growth ceilings through capacity expansion, technological layout, and model innovation, building barriers in niche markets while accommodating global orders [1]

Group 1 - The CRO sector is showing strong performance, with notable stock increases: Zhaoyan New Drug up 11.52% to HKD 22.26, Tigermed up 5.98% to HKD 44.98, WuXi AppTec up 4.65% to HKD 105.7, and Kanglong Chemical up 4.59% to HKD 20.74 [1] - Huafu Securities reports that external demand for CXO companies has significantly improved since 2024, with a recovery in year-on-year growth expected from Q4 2024 through Q3 2025, indicating a clear trend of industry rebound [1] - Yongxing Securities notes that the domestic CXO industry is experiencing an upward trend in light of improved investment and financing conditions for innovative drugs, with strong demand for specialized CDMO services driven by the expanding market for emerging fields such as peptides, CGT, ADC, and nucleic acid drugs [1] Group 2 - The domestic CXO sector has shown relatively weaker performance compared to external demand since the beginning of 2025, but there is a strong certainty of recovery from the front-end to the back-end, suggesting potential left-side opportunities [1] - Chinese CDMO companies are expected to open growth ceilings through capacity expansion, technological layout, and model innovation, building barriers in niche areas while accommodating global orders [1]

截至发稿，昭衍新药(06127.HK)涨9.72%、泰格医药(03347.HK)涨5.94%、康龙化成(03759.HK)涨 3.68%。 本文源自：金融界AI电报 ...

Group 1 - The top three companies with the highest short positions are Vanke Enterprises (02202), Dongfang Electric (01072), and COSCO Shipping Holdings (01919), with short ratios of 18.64%, 17.51%, and 16.68% respectively [1][2] - The company with the largest increase in short positions is Dongfang Electric (01072), which saw an increase of 2.20% from the previous short ratio [1][2] - The companies with the largest decrease in short positions include Sanhua Intelligent Control (02050), Tianqi Lithium (09696), and Yuejiang (02432), with decreases of -1.42%, -0.82%, and -0.71% respectively [1][3] Group 2 - The latest short position data shows that Vanke Enterprises has 411 million shares shorted, while Dongfang Electric has 71.45 million shares, and COSCO Shipping Holdings has 480 million shares shorted [2] - The companies with the largest increases in short positions also include JAKS Resources B (01167) and CSPC Pharmaceutical Group (01093), with increases of 0.77% and 0.56% respectively [2] - The companies with the largest decreases in short positions also include Ganfeng Lithium (01772) and Sunac China (01918), with decreases of -0.68% and -0.55% respectively [3][4]

Core Insights - The top three companies by stockholding ratio in the Hong Kong Stock Connect are China Telecom (71.90%), GCL-Poly Energy (69.96%), and Da Zhong Public Utilities (68.75%) [1][2] - The companies with the largest increase in stockholding over the last five trading days include SMIC (+1.092 billion), China Merchants Bank (+1.052 billion), and Hong Kong Exchanges and Clearing (+790 million) [1][2] - The companies with the largest decrease in stockholding over the last five trading days include China Mobile (-3.216 billion), Tencent Holdings (-1.107 billion), and the Tracker Fund of Hong Kong (-465 million) [1][2] Stockholding Ratios - China Telecom (00728) holds 99.79 million shares with a stockholding ratio of 71.90% [2] - GCL-Poly Energy (01330) holds 28.3 million shares with a stockholding ratio of 69.96% [2] - Da Zhong Public Utilities (01635) holds 36.7 million shares with a stockholding ratio of 68.75% [2] - Other notable companies in the top 20 include China Shenhua (66.39%) and China Merchants Energy (64.43%) [2] Recent Trading Activity - The top three companies with increased holdings in the last five trading days are: - SMIC (00981): +1.092 billion, +15.28 million shares [2][3] - China Merchants Bank (03968): +1.052 billion, +19.92 million shares [2][3] - Hong Kong Exchanges and Clearing (00388): +790 million, +1.93 million shares [2][3] - The top three companies with decreased holdings in the last five trading days are: - China Mobile (00941): -3.216 billion, -39.36 million shares [2][3] - Tencent Holdings (00700): -1.107 billion, -1.84 million shares [2][3] - Tracker Fund of Hong Kong (02800): -465 million, -18.01 million shares [2][3]

Group 1: Core Insights - The report maintains a strong market rating for the pharmaceutical industry, indicating a clear upward trend driven by recovering demand and improved performance in the CXO sector [1][2] - The CXO sector has shown significant stock price increases, with some companies experiencing nearly 100% growth since the beginning of 2025, driven by the innovative drug market and a recovery in orders [3][6] Group 2: CXO Sector Analysis - The CXO sector's overall revenue increased by 11.8% year-on-year in the first three quarters of 2025, with a notable profit increase of 58.1% [13] - External demand for CXO services has rebounded, with significant order growth from leading CDMO companies, indicating a clear recovery trend [22][31] - Internal demand for CXO services has lagged behind external demand, but there are signs of strong growth in domestic innovative drug projects and increased investment in the domestic market [3][22] Group 3: Life Sciences Upstream - The life sciences upstream sector has seen a 37.7% increase in stock prices year-to-date, outperforming the pharmaceutical and biotechnology index by 18% [3] - Revenue for the upstream sector increased by 8.8% year-on-year in the first three quarters of 2025, with net profit rising by 27.7% [3] Group 4: Investment Recommendations - The report suggests a strategic investment focus on companies such as WuXi AppTec, WuXi Biologics, and Tigermed, while also highlighting more flexible investment options like Zhaoyan New Drug and Nossan [3]

Company Dynamics - Zhou Zhiwen, a major shareholder and actual controller of Zhaoyan New Drug (603127.SH), has announced a significant share reduction plan, potentially cashing out over 500 million yuan based on the current stock price [2] - Before the reduction, Zhou held 74,725,981 shares, accounting for 9.9704% of the total share capital, with a combined holding of 32.274% with his spouse, Feng Yuxia [2] - Following the announcement of the share reduction, Zhaoyan New Drug's stock dropped by 6.20% on December 30, closing at 34.80 yuan, indicating a potential cash-out of over 500 million yuan from the sale of 14.98 million shares [2] Industry Insights - Zhaoyan New Drug specializes in non-clinical research services, clinical services, and the supply of experimental models, gaining prominence in the capital market due to its assets in experimental monkeys [2] - The average market price of experimental monkeys has seen significant fluctuations, with prices rising from 13,800 yuan per monkey in 2017 to nearly 190,000 yuan in 2022, before experiencing a decline in 2023 [2][3] - In November 2023, the price of experimental monkeys dropped to approximately 113,000 yuan each, reflecting a decrease of over 30% from the peak [3] - Despite a decline in revenue by 26.23% year-on-year to 985 million yuan in the first three quarters of 2025, Zhaoyan New Drug managed to achieve a net profit of 80.71 million yuan, indicating a recovery in performance [3] - As of December 29, 2025, Zhaoyan New Drug's stock price has increased by over 120% within the year [3] Shareholder Activity - Zhou Zhiwen has a history of share reductions, having sold a total of 14.11 million shares since November 2020, resulting in approximately 915 million yuan in cash [4]