截至2025年4月14日 11:30，上证科创板综合指数(000680)强势上涨1.13%，成分股悦康药业(688658)上涨19.99%，科兴制药(688136)上涨17.23%，智翔金泰 (688443)上涨11.27%，和元生物(688238)，路德环境(688156)等个股跟涨。科创综指ETF博时(589900)上涨1.08%， 冲击5连涨。最新价报0.93元。 科创综指ETF博时紧密跟踪上证科创板综合指数，上证科创板综合指数由上海证券交易所符合条件的科创板上市公司证券组成指数样本，并将样本分红计入 指数收益，反映上海证券交易所科创板上市公司证券在计入分红收益后的整体表现。 规模方面，科创综指ETF博时最新规模达11.89亿元，创近1月新高，位居可比基金3/11。 份额方面，科创综指ETF博时最新份额达12.89亿份，创近1月新高，位居可比基金3/11。 流动性方面，科创综指ETF博时盘中换手5.76%，成交6910.11万元。拉长时间看，截至4月11日，科创综指ETF博时近1月日均成交1.23亿元，居可比基金第 一。 消息面上，美国海关与边境保护局于11日悄然发布了更新税则，豁免了包含自动数据处理器 ...

Group 1 - The Shenwan Pharmaceutical Index declined by 5.61% this week, underperforming the CSI 300 Index which fell by 2.87%, ranking 22nd among 31 primary industry indices [1] - As of April 11, 2025, the price-to-earnings (PE) ratio for the pharmaceutical and biotechnology industry is 25.78 times, compared to 11.50 times for the CSI 300 Index, indicating a valuation premium of 124.23% for the pharmaceutical sector, which remains at a historical low [1] Group 2 - The recent changes in U.S. tariff policy, which exempt certain categories of goods from additional tariffs, are seen as a measure to ease U.S.-China trade tensions [2] - The exemption applies to all countries subject to "reciprocal tariffs," allowing products correctly classified under specified HTSUS numbers to benefit from a standard additional tariff of 10% instead of higher rates [2] Group 3 - The easing of tariff pressures is expected to benefit China's electronic and semiconductor supply chains, reflecting the strong competitiveness and cost-effectiveness of Chinese manufacturing [3] - The pharmaceutical industry in China also demonstrates similar supply chain capabilities, indicating a strong global reliance on China's pharmaceutical manufacturing, which reduces the likelihood of imposing high tariffs on drugs [3] Group 4 - The latest tariff policy significantly alleviates export chain pressures, with a focus on investment opportunities in the CXO, API, generic drugs, and medical device sectors [4] - Recommended companies include WuXi AppTec, WuXi Biologics, and others in the CXO chain, as well as Huahai Pharmaceutical and others in the API and generic drug sectors [4]

Core Viewpoint - The impact of the U.S. tariffs on China continues to affect the pharmaceutical and medical device industries, with most medical consumables and devices not included in the exemption list, leading to increased tariff burdens [1][4][3]. Tariff Impact on Pharmaceuticals - Most pharmaceutical formulations, including various chemical drugs and vaccines, are exempt from the new 34% tariffs, maintaining a current tariff level of 20% [1]. - Specific drugs, such as those containing insulin and certain anti-malarial components, are excluded from tariffs, while medical devices like syringes will see tariffs rise from 120% to 154% [1][4]. Trade Statistics - In 2024, China's pharmaceutical exports to the U.S. are projected to reach $19.047 billion, with medical devices accounting for $11.758 billion and Western medicines for $6.425 billion [4]. - The U.S. remains China's largest export market for medical devices, comprising 24.1% of total exports [4]. Affected Sectors and Companies - The medical device sector, including syringes, gloves, and diagnostic equipment, is significantly impacted by the new tariffs, with companies like Canna, Kangdelai, and Wuzhou Medical being directly affected [5]. - Companies involved in the production of raw materials and pharmaceuticals, such as Hepalink and Hanyu Pharmaceutical, are also facing challenges due to the tariff changes [7][8]. Strategic Responses from Companies - Many pharmaceutical companies are adjusting their strategies to reduce reliance on the U.S. market by expanding into other regions like Europe and Southeast Asia [9][10]. - Companies like Mindray Medical and Hepalink have established local production facilities in the U.S. to mitigate tariff impacts and enhance compliance [10][11]. Internal Optimization Strategies - Some companies are focusing on improving internal operational efficiency and cost structures to withstand the uncertainties posed by the tariffs [12][13]. - For instance, Xianju Pharmaceutical is concentrating on production efficiency and cost reduction while shifting its export focus to the EU and Southeast Asia [12].

尽管近几年来，国产医药出海拓展的收入规模快速提升，但对大多数医药企业而言，海外收入尚未形成 规模。 在目前已经公布年报的医药企业里，2024年年收入规模超过200亿元的六家医药企业中，只有复星医药 和药明康德的海外收入较大。白云山全年收入750亿元，但出口收入仅为2.75亿元。复星医药全年收入 410.67亿元，其中出口收入112.97亿元。云南白药全年收入400.33亿元，但出口收入仅为3.59亿元。药明 康德全年收入392.4亿元，来自海外的收入308.7亿元。恒瑞医药全年收入279.85亿元，但国外的收入仅 为7.16亿元。华润三九全年收入276.16亿元，但海外的收入仅为2.95亿元。 华夏时报（www.chinatimes.net.cn）记者 陶炜 南京报道 美国总统特朗普当地时间4月8日发表讲话称，美国将对药品征收关税。而在此前所谓的"对等关税"体系 里，绝大多数药品都在豁免清单里。这意味着，国内医药行业也将面临关税的影响。 不过，《华夏时报》记者在调查中发现，对于多数国内医药企业而言，美国业务的占比很小甚至没有。 而少数有较多美国业务的医药企业在和本报记者的交流过程中，也表示并不焦虑。"进出口影 ...

证券代码：600056 证券简称：中国医药 公告编号：临2025-015号 中国医药健康产业股份有限公司 第九届董事会第23次会议决议公告 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。 一、会议召开情况 (一)中国医药健康产业股份有限公司(以下简称"公司")第九届董事会第23次会议（以下简称"本次会 议"）于2025年4月8日以现场结合通讯方式召开，会议由董事长杨光先生主持，公司监事及相关高级管 理人员列席了本次会议。 (二)本次会议通知于2025年4月3日以邮件、短信、电话或传真的方式向全体董事发出。 (三)本次会议应当出席董事7名，实际出席会议的董事7名。 (四)本次会议的召开符合《公司法》及《公司章程》的有关规定，会议决议为有效决议。 二、会议审议情况 本次会议审议并通过如下议案： （一）审议通过了《关于提名董事候选人的议案》。 经决议，董事会同意将提名杨新先生为公司董事候选人的事项提交公司股东大会审议，杨新先生的任期 自股东大会审议通过日至第九届董事会届满。本议案已经董事会提名委员会审议通过，并同意将该议案 提交本 ...

特此公告。 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。 中国医药健康产业股份有限公司董事会 经董事会提名委员会审查合格，并经中国医药健康产业股份有限公司（以下 简称"公司"）第九届董事会第23次会议审议通过，董事会提名杨新先生为公司 第九届董事会董事候选人，任期自股东大会通过之日至本届董事会届满。该事项 尚需提交公司股东大会审议通过。 证券代码：600056 证券简称：中国医药 公告编号：临2025-016号 董事候选人简历如下： 杨新先生，57岁，博士研究生。 曾任中国航天科工集团有限公司空间工程部副部长；中国航天系统工程有限 公司(中国航天科工集团第一研究院、中国航天科工信息技术研究院)副总经理 (副院长)。 中国医药健康产业股份有限公司 关于提名董事候选人的公告 现任中国航天系统工程有限公司(中国航天科工集团第一研究院、中国航天 科工信息技术研究院)资深专务。 2025 年 4 月 9 日 ...

证券代码：600056 证券简称：中国医药 公告编号：临2025-015号 (一)中国医药健康产业股份有限公司(以下简称"公司")第九届董事会第23次 会议（以下简称"本次会议"）于2025年4月8日以现场结合通讯方式召开，会议由董 事长杨光先生主持，公司监事及相关高级管理人员列席了本次会议。 (二)本次会议通知于2025年4月3日以邮件、短信、电话或传真的方式向全体董 事发出。 (三)本次会议应当出席董事7名，实际出席会议的董事7名。 (四)本次会议的召开符合《公司法》及《公司章程》的有关规定，会议决议为 有效决议。 二、会议审议情况 本次会议审议并通过如下议案： （一）审议通过了《关于提名董事候选人的议案》。 中国医药健康产业股份有限公司 第九届董事会第 23 次会议决议公告 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。 一、会议召开情况 1 康产业有限公司（以下简称"重庆医健"）签署《托管协议》，重庆医健将其持有 的重庆和平制药有限公司（以下简称"和平制药"）100%股权委托公司管理，并由 公司根据《托管协议》的约定代 ...

Group 1 - The U.S. government has implemented a 10% "minimum benchmark tariff" on trade partners, with certain exemptions for pharmaceuticals and other products [1][2] - The pharmaceutical sector has reacted negatively in the market, with significant declines in various related sectors, including medical services and biopharmaceuticals, with drops ranging from 9.55% to 14.69% [1] - The exemption of pharmaceuticals from the tariff is due to the high reliance of the U.S. on imported active pharmaceutical ingredients (APIs), with 80% of APIs sourced from abroad [2][3] Group 2 - Local pharmaceutical companies have reported minimal impact from the tariff changes, as the tariffs do not apply to innovative drug licensing and trade [5][6] - Companies like Mindray Medical and others have proactively prepared for potential tariff impacts by adjusting their supply chains and inventory strategies [6][5] - The focus on high-quality innovation is emphasized as a key strategy for the Chinese pharmaceutical industry to navigate the challenges posed by tariffs and global competition [8][7] Group 3 - The number of innovative drugs developed by Chinese companies is rapidly increasing, with projections indicating that by the end of 2024, there will be 3,575 active innovative drugs, surpassing the U.S. [7] - Chinese pharmaceutical companies are actively expanding into international markets, with significant license-out transactions and collaborations with multinational corporations [7][8] - The "NewCo" model is emerging as a viable path for Chinese biopharmaceutical companies to innovate and expand internationally, despite geopolitical challenges [8]

Group 1 - The core viewpoint of the article highlights the significant changes in the rankings of traditional Chinese medicine companies, with Yangtze River Pharmaceutical Group taking the top spot in the 2024 Chinese Pharmaceutical Market Rankings, followed by Shandong Buchang Pharmaceutical and China Resources Sanjiu [1] - The rankings are based on sales data from public medical institutions, offline pharmacies, and online pharmacies, reflecting the sales strength and brand power of pharmaceutical companies [1] - The rankings have been published for two consecutive years, providing authoritative insights into the structural changes and competitive landscape of the pharmaceutical industry [1] Group 2 - The top three companies in the traditional Chinese medicine category for 2024 are Yangtze River Pharmaceutical Group, Shandong Buchang Pharmaceutical, and China Resources Sanjiu [2] - The rankings include a total of 100 companies, showcasing a competitive landscape in the traditional Chinese medicine sector [2] - The article also mentions the performance of other notable companies in the rankings, such as Shijiazhuang Yiling Pharmaceutical and Yunnan Baiyao Group [2] Group 3 - Shandong Buchang Pharmaceutical has established a strong market presence in the cardiovascular medicine sector, holding a market share of 9.88% in public medical institutions for traditional Chinese medicine treating cardiovascular diseases [4] - The company has developed proprietary products targeting common cardiovascular diseases, including brain-heart capsules and stable heart granules [4] - Buchang Pharmaceutical is expanding into high-tech pharmaceutical fields, including biopharmaceuticals and vaccines, to enhance its competitive edge [4][5] Group 4 - Since its establishment, Buchang Pharmaceutical has paid over 32 billion yuan in taxes, contributing to local economic development [8] - The company has initiated the "Together, Build China's Heart" public welfare project, providing medical assistance and training to healthcare workers in underprivileged areas [8] - The project has trained nearly 3,000 healthcare workers and provided free surgeries for over 3,000 children with congenital heart disease, enhancing the company's brand reputation and social support [8]

Q&A 美国对中国加征关税对中国出口的影响如何？ 中国医药的外需、内需、供给格局变化 20250407 摘要 美国对中国加征关税将导致中国出口减少，产品竞争力下降。为了应对这一情 况，中国需寻找供需平衡且不以美国为主要出口市场的公司。这些公司的需求 侧较为平稳，能够抵消美国需求减少带来的影响。此外，中美贸易摩擦可能长 期存在，因此在投资组合中应重点关注内需市场，并选择非重点出口美国且竞 争格局较好的公司。 • 中美贸易摩擦长期存在，医药行业受关税影响相对较小，美国豁免了绝大 部分药品相关关税。创新药领域受影响不大，推荐海瑞克、伦博泰、荣昌、 百济等创新公司。 • 血液制品领域受关税影响较大，全球血浆主要来自美国，加征关税可能导 致本土润普食品公司获得更大份额。预计国产白蛋白价格有所松动，行业 估值修复调整，关注天坛生物、派林生物和博雅生物等公司。 • 上游产业链和医疗器械领域需关注国产替代及国内市场需求增加的公司。 推荐纳微、台睿和奥普曼等上游企业，以及联影及汇泰等医疗器械公司。 贸易摩擦升级可能刺激内需，医疗服务与中药行业值得关注。 • 建议重点关注东阿阿胶、安阳眼科和艾美特等内需领域公司，这些公司在 中药 ...