每经AI快讯，9月30日，港股诺诚健华(09969.HK)涨超6%，截至发稿，涨6.55%，报18.87港元，成交额 1.15亿港元。 ...

诺诚健华(09969)涨超6%，截至发稿，涨6.55%，报18.87港元，成交额1.15亿港元。 消息面上，据诺诚健华官微消息，近日，公司宣布，靶向CD19单抗明诺凯(坦昔妥单抗，tafasitamab)近 日在北京、上海、广东、黑龙江、福建、山东、广西、安徽、江西、湖北、浙江等全国多个省市医院开 出首批处方，标志着这款创新药在中国正式进入临床应用阶段。据介绍，坦昔妥单抗是全球首个且唯一 获批治疗淋巴瘤的CD19单抗，也是中国首个获批治疗复发/难治性弥漫性大B细胞淋巴瘤(R/R DLBCL) 的CD19单抗，填补了国内CD19靶向治疗的空白，将为DLBCL患者带来更好的治疗选择。 ...

智通财经APP获悉，诺诚健华(09969)涨超6%，截至发稿，涨6.55%，报18.87港元，成交额1.15亿港元。 消息面上，据诺诚健华官微消息，近日，公司宣布，靶向CD19单抗明诺凯®(坦昔妥单抗，tafasitamab) 近日在北京、上海、广东、黑龙江、福建、山东、广西、安徽、江西、湖北、浙江等全国多个省市医院 开出首批处方，标志着这款创新药在中国正式进入临床应用阶段。据介绍，坦昔妥单抗是全球首个且唯 一获批治疗淋巴瘤的CD19单抗，也是中国首个获批治疗复发/难治性弥漫性大B细胞淋巴瘤(R/R DLBCL)的CD19单抗，填补了国内CD19靶向治疗的空白，将为DLBCL患者带来更好的治疗选择。 ...

2025年9月25日，中国北京——生物医药高科技公司诺诚健华(上交所代码：688428；香港联交所代码：09969)今天宣布，靶向 CD19单抗明诺凯(坦昔妥单抗，tafasitamab)近日在北京、上海、广东、黑龙江、福建、山东、广西、安徽、江西、湖北、浙江等 全国多个省市医院开出首批处方，标志着这款创新药在中国正式进入临床应用阶段。 坦昔妥单抗是全球首个且唯一获批治疗淋巴瘤的CD19单抗，也是中国首个获批治疗复发/难治性弥漫性大B细胞淋巴瘤(R/R DLBCL)的CD19单抗，填补了国内CD19靶向治疗的空白，将为DLBCL患者带来更好的治疗选择。 诺诚健华联合创始人、董事长兼首席执行官崔霁松博士："我们衷心感谢监管机构、临床专家、患者及合作伙伴对明诺凯(坦昔 妥单抗)一直以来的支持与信任，也非常感谢所有员工的辛勤付出。明诺凯是诺诚健华在血液瘤领域布局的核心药物，此次全国 首批处方的快速落地，是诺诚健华推动创新药惠及中国患者的又一重要里程碑。未来，我们将继续与各方携手，加速提升创新 药的可及性，为改善中国淋巴瘤患者的生存质量持续努力。" 填补未被满足的临床需求 DLBCL是非霍奇金淋巴瘤(NHL)中最常见 ...

Core Viewpoint - Nuo Cheng Jian Hua has seen a significant stock price increase, reflecting positive market sentiment and potential growth in the biopharmaceutical sector [1][2]. Company Overview - Nuo Cheng Jian Hua Pharmaceutical Co., Ltd. is based in Beijing and was established on November 3, 2015, with its IPO on September 21, 2022. The company focuses on the research, production, and commercialization of biopharmaceuticals, particularly in oncology and autoimmune diseases [1]. - The company's revenue composition includes 87.67% from drug sales, 12.04% from technology licensing, and 0.15% each from testing and research services [1]. Stock Performance - As of September 25, Nuo Cheng Jian Hua's stock price rose by 5.02% to 29.49 CNY per share, with a total market capitalization of 52.039 billion CNY. The stock has increased by a cumulative 6.69% over the past three days [1]. - The trading volume on the same day was 63.42 million CNY, with a turnover rate of 0.81% [1]. Fund Holdings - The Huabao Pharmaceutical Biotech Mixed A Fund (240020) has increased its holdings in Nuo Cheng Jian Hua by 92,400 shares in the second quarter, bringing its total to 1.273 million shares, which constitutes 5.97% of the fund's net value [2]. - The fund has realized a floating profit of approximately 1.7949 million CNY today and 2.2404 million CNY during the three-day stock price increase [2]. Fund Manager Performance - The fund manager, Zhang Jintao, has been in position for 9 years and 338 days, managing a total asset size of 1.202 billion CNY. The best return during his tenure is 62.24%, while the worst is -12.53% [3].

Group 1 - The core viewpoint of the news is that Nuo Cheng Jian Hua's stock has increased by 5.02%, reaching a price of 28.88 yuan per share, with a total market capitalization of 50.963 billion yuan [1] - Nuo Cheng Jian Hua is a Chinese biopharmaceutical company established on November 3, 2015, focusing on the research, production, and commercialization of drugs, particularly in oncology and autoimmune diseases [1] - The company's revenue composition includes 87.67% from drug sales, 12.04% from technology licensing, and 0.15% each from testing and research services [1] Group 2 - According to data, Zhongyin Fund has a significant holding in Nuo Cheng Jian Hua, with its Zhongyin Healthcare Mixed A Fund reducing its stake by 1.0453 million shares in the second quarter, now holding 1.2264 million shares, which represents 4.19% of the fund's net value [2] - The Zhongyin Healthcare Mixed A Fund has achieved a return of 80.44% year-to-date, ranking 216 out of 8173 in its category, and a one-year return of 110.4%, ranking 433 out of 7996 [2] Group 3 - The fund manager of Zhongyin Healthcare Mixed A is Zheng Ning, who has been in the position for 3 years and 87 days, with the fund's total asset size at 5.838 billion yuan [3] - During Zheng Ning's tenure, the best fund return was 99.6%, while the worst return was 62.14% [3]

Investment Rating - The report assigns an "Outperform" rating to the company [4][15]. Core Insights - The company has shown strong revenue growth, with a 74.26% year-on-year increase in revenue for H1 2025, reaching 731 million RMB, and a significant narrowing of net losses by 88.51% [16][17]. - The leadership position in hematologic tumors is being solidified, with strong sales growth of Orelabrutinib and imminent commercialization of Tafasitamab [17][18]. - The company is advancing multiple pipelines in autoimmune diseases, with several products entering Phase III trials [18]. Financial Summary - Revenue projections for 2025-2027 are 1.44 billion RMB, 1.86 billion RMB, and 2.69 billion RMB, with year-on-year growth rates of 43%, 29%, and 45% respectively [4][15]. - The company is expected to achieve a gross profit of 1.31 billion RMB by 2025, with a net profit forecasted to narrow to -308 million RMB [2][4]. - The price-to-sales (PS) ratio is set at 30x for 2025, leading to a target price of 26.70 HKD [4][15].

Core Viewpoint - The report from Guotai Junan maintains a "Buy" rating for Nuo Cheng Jian Hua (09969), projecting revenue growth from 2025 to 2027 at 14.43 billion, 18.59 billion, and 26.91 billion yuan, representing year-on-year growth of 43%, 29%, and 45% respectively. A target price of 24.53 to 26.70 HKD is set for 2025 based on a 30x PS ratio [1]. Group 1: Performance - In the first half of 2025, the company achieved revenue of 7.31 billion yuan, a year-on-year increase of 74.26%, with a net profit attributable to shareholders of -0.30 billion yuan, narrowing losses by 88.51% [2]. - In Q2 2025, revenue reached 3.50 billion yuan, up 37.91% year-on-year, while the net profit attributable to shareholders was -0.48 billion yuan, with losses narrowing by 59.76%. The revenue growth was primarily driven by increased sales of Obinutuzumab and recognition of licensing income, with pharmaceutical sales rising by 53.47% [2]. Group 2: Blood Cancer Leadership - The company continues to solidify its leadership in the blood cancer sector, with strong sales growth of Obinutuzumab, which generated 6.37 billion yuan in sales in the first half of 2025, a 52.84% increase year-on-year. The NDA application for 1LCLL/SLL was approved in April 2025 [3]. - The commercialization of Tanshizumab is set to begin, with approval for the indication of unsuitable ASCT r/r DLBCL received in April 2025, and sales expected to start between Q3 and Q4 of 2025 [3]. - ICP-248 is advancing in multiple registrations in both domestic and U.S. markets, with ongoing patient recruitment for 1LCLL/SLL and BTKi-treated MCL indications in China, and steady progress in AML and MDS studies in the U.S. The addition of new indications is expected to further boost Obinutuzumab's sales [3]. Group 3: Autoimmune Pipeline - The company has multiple pipelines in autoimmune diseases entering Phase III trials, with two Phase III clinical trials for Obinutuzumab (PPMS and SPMS) expected to start patient recruitment in the second half of 2025. The Phase III registration trial for ITP in China has successfully completed patient enrollment, with NDA submission anticipated in the first half of 2026. Data readout for SLE is expected in Q4 2025 [4]. - For ICP-332, patient recruitment for the AD Phase III trial is accelerating, and the Phase II/III trial for vitiligo began patient recruitment in May 2025. The global Phase II trial for PN is expected to start in the second half of 2025 [4]. - The Phase III registration trial for plaque psoriasis with ICP-488 is currently recruiting patients [4].

Core Viewpoint - The report from Guotai Junan maintains a "Buy" rating for Nuo Cheng Jian Hua (09969), projecting revenue growth from 14.43 billion to 26.91 billion CNY from 2025 to 2027, with year-on-year growth rates of 43%, 29%, and 45% respectively. The target price is set at 24.53 CNY/26.70 HKD based on a 30x PS for 2025 [1][2]. Financial Performance - In the first half of 2025, the company achieved revenue of 7.31 billion CNY, a year-on-year increase of 74.26%, and a net profit attributable to shareholders of -0.30 billion CNY, with losses narrowing by 88.51%. In Q2 alone, revenue reached 3.50 billion CNY, up 37.91%, with net profit of -0.48 billion CNY, a 59.76% reduction in losses. The revenue growth is primarily driven by increased sales of Aobutini and revenue from licensing agreements, with pharmaceutical sales rising by 53.47% [1][2]. Market Position and Pipeline Development - The company continues to solidify its leadership in the hematology sector, with strong sales growth of Aobutini, which reached 6.37 billion CNY in the first half of 2025, a 52.84% increase. The NDA application for 1LCLL/SLL was approved in April 2025. Additionally, the commercialization of Tansizhuo monoclonal antibody is expected to begin in Q3 to Q4 of 2025. The ICP-248 clinical trials are progressing in both domestic and U.S. markets, with new indications anticipated to further boost Aobutini's sales [2][3]. Immunology Pipeline Advancements - The company has multiple immunology pipelines entering Phase III trials. Aobutini's Phase III trials for PPMS and SPMS are expected to start patient recruitment in the second half of 2025. The ITP Phase III trial in China has successfully completed patient enrollment, with NDA submission anticipated in the first half of 2026. Data for SLE is expected to be read out in Q4 2025. ICP-332 is accelerating patient recruitment for AD Phase III trials, while the Phase II/III trial for vitiligo began in May 2025. The global Phase II trial for PN is set to start in the second half of 2025 [3].

Group 1 - The core point of the article highlights the recent stock performance of Nuo Cheng Jian Hua, which saw a decline of 2.00% on September 23, with a trading price of 26.92 CNY per share and a total market capitalization of 475.04 billion CNY [1] - Nuo Cheng Jian Hua has experienced a significant stock price increase of 119.22% year-to-date, but has seen a slight decline of 1.43% over the past five trading days and 6.85% over the past 20 days [1] - The company primarily engages in the research, production, and commercialization of biopharmaceuticals, focusing on unmet clinical needs in oncology and autoimmune diseases, with a product pipeline that includes several investigational drugs [1] Group 2 - As of June 30, 2025, Nuo Cheng Jian Hua reported a revenue of 731 million CNY, representing a year-on-year growth of 74.26%, while the net profit attributable to shareholders was -30.09 million CNY, showing an increase of 88.51% compared to the previous period [2] - The company operates within the pharmaceutical and biotechnology sector, specifically in chemical pharmaceuticals and formulations, and is involved in various concept sectors including biopharmaceuticals and innovative drugs [2] - The number of shareholders increased by 13.80% to 15,200 as of June 30, 2025, indicating growing interest in the company's stock [2] Group 3 - Institutional holdings show that as of June 30, 2025, the top ten circulating shareholders include several funds, with notable increases in holdings from certain funds, while others have decreased their positions [3] - The sixth largest shareholder, China Europe Medical Health Mixed A, increased its holdings by 3.98 million shares, while new shareholders have entered the top ten list [3] - The changes in institutional holdings reflect a dynamic investment landscape for Nuo Cheng Jian Hua, with some funds increasing their stakes while others have exited [3]