据交易所数据显示，12月17日，再鼎医药(ZLAB)开盘上涨2.59%，截至22:32，报17.44美元/股，成交 26.04万美元，总市值19.53亿美元。 财务数据显示，截至2025年06月30日，再鼎医药收入总额2.16亿美元，同比增长15.35%；归母净利 润-8916.5万美元，同比增长33.33%。 大事提醒： 11月11日，再鼎医药将披露2025财年三季报（数据来源于纳斯达克官网，预计披露日期为美国当地时 间，实际披露日期以公司公告为准）。 资料显示，再鼎医药有限公司是一家以患者为中心的、处于商业化阶段的创新型全球生物制药公司,立 足中国、全球运营,致力于为中国及全球的患者提供针对肿瘤、自身免疫性疾病、感染性疾病和中枢神 经系统疾病的同类最优和同类首创药物。公司的使命是成为全球领先的生物制药公司,为中国和世界各 地的患者提供变革性创新药物。再鼎医药的长期目标是成为全球领先的生物制药公司,以中国为基,为全 球患者提供创新疗法。 本文源自：市场资讯 作者：行情君 ...

来源：新浪基金∞工作室 12月16日，港股创新药ETF（159567）收盘跌1.91%，成交额10.78亿元。 港股创新药ETF（159567）现任基金经理为马君。马君自2024年1月3日管理（或拟管理）该基金，任职 期内收益64.28%。 最新定期报告显示，港股创新药ETF（159567）重仓股包括百济神州、康方生物、信达生物、中国生物 制药、中国生物制药、石药集团、三生制药、翰森制药、科伦博泰生物-B、再鼎医药，持仓占比如下。 股票代码股票名称持仓占比持仓股数（股）持仓市值（元）06160百济神州10.62%436.35万8.17亿09926 康方生物10.55%630.20万8.12亿01801信达生物10.21%893.55万7.86亿01177中国生物制药9.62%9966.80万 7.41亿08027中国生物制药9.62%9966.80万7.41亿01093石药集团7.56%6809.40万5.83亿01530三生制药 7.25%2038.75万5.58亿03692翰森制药5.39%1260.00万4.15亿06990科伦博泰生物-B3.48%57.08万2.68亿 09688再鼎医药2.73%8 ...

Core Insights - The pharmaceutical industry is experiencing a surge in innovative products, with clear domestic demand and significant potential for international expansion [4][14][25] - Investment opportunities are concentrated in innovative drugs and their supply chains, with a notable performance from CRO/CMO and chemical pharmaceuticals [9][15][17] - The report emphasizes the importance of innovation as the primary solution to industry challenges, driven by stable demand and supportive policies [26][32][41] Industry Overview - The pharmaceutical sector has faced revenue declines, with a 0.9% year-on-year decrease in revenue for the first three quarters of 2025, and net profit down by 2.2% [15][16] - The innovative drug sector has outperformed, with CRO/CMO and chemical pharmaceuticals showing net profit growth of 31.0% and 16.6% respectively [17][18] - The overall market is characterized by low fund holdings and historical valuation bottoms, indicating high investment value [20][25] Demand and Payment Dynamics - The demand for healthcare services is steadily increasing, with a projected 5% growth in total medical visits and hospital admissions in 2024 [26][28] - The aging population is expected to drive long-term demand, with 220 million people aged 65 and above by 2050 [28][30] - The medical insurance fund's income growth has outpaced expenditure growth, leading to a significant increase in fund reserves [32][36] Financing and Market Trends - The IPO market for healthcare has rebounded, with 28 IPOs in the first three quarters of 2025, a 100% increase from the previous year [42][43] - License-out transactions have surged, with transaction numbers increasing by 41% and total amounts reaching $92 billion, indicating a robust market for innovative drug licensing [48][50] - The number of IND applications and new clinical trials for innovative drugs has been steadily increasing, with a notable rise in NDA approvals [53][57] Technological Advancements - The report highlights the emergence of new technologies such as ADC and small nucleic acids, with domestic companies leading in these areas [60] - The focus on dual antibodies and GLP-1 drugs is expected to drive significant growth, with multiple development directions emerging [9][60] - The report notes that domestic companies are increasingly recognized for their innovative capabilities, particularly in the ADC space [60]

52周新高排行 | 股票名称 | 收盘价 | 最高价 | | 创高率 | | --- | --- | --- | --- | --- | | 设计都会(01545) | 0.124 | 0.138 | 40.82% | | | 鋑联控股(00459) | 0.121 | 0.126 | 35.48% | | | 中国波顿(03318) | 2.090 | 2.800 | 30.23% | | | 中新控股(08125) | 0.580 | 0.650 | 25.00% | | | 侨洋国际控股(08070) | 0.870 | 0.950 | 14.46% | | | 信能低碳(00145) | 0.335 | 0.400 | 8.11% | | | 上谕集团(01633) | 0.172 | 0.199 | 5.85% | | | LEGION CONSO(02129) | 0.171 | 0.198 | 5.32% | | | 中国鹏飞集团(03348) | 1.410 | 1.450 | 5.07% | | | 大森控股(01580) | 0.190 | 0.210 | 5.00% | | | 彼岸控股 ...

Core Insights - Zai Lab Limited announced the renewal of several medicines in the 2025 National Reimbursement Drug List (NRDL) by China's National Healthcare Security Administration (NHSA) [1] Group 1: Medicines and Indications - VYVGART® (efgartigimod alfa injection) is renewed for the treatment of adult patients with generalized myasthenia gravis (gMG) who are anti-acetylcholine receptor (AChR) antibody positive [1] - NUZYRA® (omadacycline) has also been included in the renewed list, indicating continued support for its use in specific indications [1]

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11月30日 | | 狀態: | | 新提交 | 致：香港交易及結算所有限公司 公司名稱: 再鼎醫藥有限公司 呈交日期: 2025年12月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 09688 | 說明 | 普通股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | USD | 0.000006 | USD | | 30,000 | | 增加 / 減少 (-) | | | | | | USD | | | | 本月底結存 | | | 5,000,000,000 | USD | 0.000006 | USD | | 30,000 | ...

Core Viewpoint - The innovative drug concept stocks have shown a rebound, with notable increases in share prices for several companies, driven by recent developments in the healthcare policy landscape in China [1]. Group 1: Stock Performance - Gilead Sciences-B (01672) increased by 10.26%, reaching HKD 13.11 [1] - Kangfang Biotech (09926) rose by 4.15%, reaching HKD 123.1 [1] - Zai Lab (09688) saw a 3.36% increase, reaching HKD 15.69 [1] - Xiansheng Pharmaceutical (02096) grew by 2.9%, reaching HKD 13.48 [1] Group 2: Policy Developments - In November, the National Healthcare Security Administration initiated negotiations for the 2025 National Basic Medical Insurance Drug List and the pricing consultation for the commercial insurance innovative drug list [1] - The fourth batch of traditional Chinese medicine centralized procurement was launched nationwide [1] - Beijing introduced policies related to medical devices, and the State Council meeting outlined the promotion of provincial-level coordination for basic medical insurance [1] Group 3: Market Insights - Bohai Securities highlighted the importance of the upcoming release of the new basic medical insurance drug list and the first commercial insurance innovative drug list in early December, indicating potential investment opportunities for related pharmaceutical companies [1] - Zhongyou Securities noted that despite a temporary vacuum in domestic BD (business development) transactions, there have been multiple collaborations with multinational corporations (MNCs) since Q4, reflecting recognition of the innovative research capabilities of domestic companies [1] - The strong competitive advantages of China's innovative drug industry, including the capacity of the industry chain, pipeline quantity and quality, and research efficiency, are expected to foster long-term positive trends [1]

Core Viewpoint - The innovative pharmaceutical stocks have shown a rebound, with notable increases in share prices for several companies, driven by recent policy developments and market dynamics [1] Group 1: Stock Performance - Gilead Sciences-B (01672) increased by 10.26%, reaching HKD 13.11 [1] - Kangfang Biotech (09926) rose by 4.15%, reaching HKD 123.1 [1] - Zai Lab (09688) saw a 3.36% increase, reaching HKD 15.69 [1] - Xiansheng Pharmaceutical (02096) grew by 2.9%, reaching HKD 13.48 [1] Group 2: Policy Developments - In November, the National Healthcare Security Administration initiated negotiations for the 2025 National Basic Medical Insurance Drug List and the pricing consultation for the commercial insurance innovative drug list [1] - The fourth batch of traditional Chinese medicine centralized procurement was launched, and new policies regarding medical devices were introduced in Beijing [1] - The State Council meeting outlined plans to promote provincial-level coordination of basic medical insurance [1] Group 3: Market Insights - Bohai Securities highlighted the importance of the upcoming release of the new basic medical insurance drug list and the first commercial insurance innovative drug list in early December, indicating potential investment opportunities in related pharmaceutical companies [1] - Zhongyou Securities noted that despite a temporary vacuum in domestic BD outbound transactions, several collaborations with multinational corporations (MNCs) have emerged since Q4, reflecting the recognition of domestic innovative drug companies' R&D capabilities [1] - The strong competitive advantages of China's innovative drug industry, including the capacity of the industry chain, pipeline quantity and quality, and R&D efficiency, are expected to drive long-term industry trends [1]

Core Viewpoint - The Hong Kong innovative drug concept stocks have shown a rebound today, indicating a positive market sentiment towards this sector [1] Company Performance - Gilead Sciences-B (01672.HK) increased by 10.26%, reaching HKD 13.11 [1] - CanSino Biologics (09926.HK) rose by 4.15%, trading at HKD 123.1 [1] - Zai Lab (09688.HK) saw a gain of 3.36%, with a price of HKD 15.69 [1] - Ascletis Pharma (02096.HK) grew by 2.9%, priced at HKD 13.48 [1]

智通财经APP获悉，创新药概念股今日回暖，截至发稿，歌礼制药-B(01672)涨10.26%，报13.11港元； 康方生物(09926)涨4.15%，报123.1港元；再鼎医药(09688)涨3.36%，报15.69港元；先声药业(02096)涨 2.9%，报13.48港元。 中邮证券发布研报称，下半年以来，国内的BD出海交易虽有短暂真空，但仍在持续，Q4以来亦诞生了 多个MNC为合作方的交易。我们认为，海外MNC的购买行为系对国内创新药公司创新研发的实力的背 书认可。进一步看，我们认为系中国创新药产业链能力、管线数量和质量、研发效率在全球的强大竞争 优势催生出的结果，坚定看好长期的产业趋势。 消息面上，11月，国家医保局组织开展2025年国家基本医保药品目录谈判竞价和商保创新药目录价格协 商工作，同时全国第四批中成药集采启动，北京市出台医疗器械相关政策，国常会部署推进基本医疗保 险省级统筹等。渤海证券发布研报称，关注12月初新版基本医保药品目录及首版商保创新药目录的发 布，关注相关制药企业的投资机遇，及创新药企业支付端结构优化的发展机会。 ...