Group 1 - The core viewpoint of the news indicates that the Artemisinin concept sector experienced a decline of 0.81%, ranking among the top declines in the concept sector [1] - Within the Artemisinin concept sector, major companies such as Kunming Pharmaceutical Group, New Harmony, and Rundu Co., Ltd. saw significant declines, while companies like Baihua Pharmaceutical, China Resources Sanjiu, and Zhejiang Medicine recorded gains of 1.21%, 0.75%, and 0.75% respectively [1] Group 2 - The financial data shows that the Artemisinin concept sector had a net outflow of 96 million yuan, with eight stocks experiencing net outflows, led by Kunming Pharmaceutical Group with a net outflow of 62.05 million yuan [2] - Other companies with notable net outflows include Rundu Co., Ltd. with 11.84 million yuan, Fosun Pharmaceutical with 9.02 million yuan, and Zhejiang Medicine with 6.48 million yuan [2] - Conversely, the stocks with the highest net inflows included Baihua Pharmaceutical and New Harmony, with net inflows of 6.07 million yuan and 1.19 million yuan respectively [2]

Group 1 - The Shanghai Composite Index opened lower and the CSI 300 Pharmaceutical and Biotechnology Index reported 7459.13 points [1] - The CSI 300 Pharmaceutical and Biotechnology Index has decreased by 3.80% over the past month, increased by 3.37% over the past three months, and has risen by 0.20% year-to-date [1] - The CSI 300 Index categorizes its 300 sample stocks into 11 primary industries, 35 secondary industries, over 90 tertiary industries, and more than 200 quaternary industries [1] Group 2 - The top ten holdings in the CSI 300 Pharmaceutical and Biotechnology Index are: Heng Rui Medicine (24.67%), WuXi AppTec (16.06%), Pian Zai Huang (6.84%), Yunnan Baiyao (5.71%), Kelun Pharmaceutical (4.69%), New Horizon (3.81%), East China Pharmaceutical (3.6%), Shanghai Raist (3.44%), Fosun Pharma (3.37%), and Changchun High-tech (3.18%) [1] - The market share of the CSI 300 Pharmaceutical and Biotechnology Index is 63.43% from the Shanghai Stock Exchange and 36.57% from the Shenzhen Stock Exchange [2] - The industry composition of the index includes: chemical drugs (42.67%), pharmaceutical and biotechnology services (21.27%), traditional Chinese medicine (19.68%), and biological drugs (16.38%) [2] Group 3 - The index samples are adjusted every six months, with adjustments implemented on the next trading day after the second Friday of June and December each year [2] - Weight factors are adjusted along with the sample adjustments, which are generally fixed until the next scheduled adjustment [2] - Temporary adjustments occur when the CSI 300 Index samples are modified, and changes in industry classification due to special events will also lead to corresponding adjustments in the CSI 300 industry index [2]

Core Insights - Fosun Pharma reported a revenue of 41.067 billion yuan in 2024, a slight decrease of 0.80% year-on-year, while net profit attributable to shareholders increased by 16.08% to 2.770 billion yuan [1][2] - The company achieved a net cash flow from operating activities of 4.477 billion yuan, reflecting a significant increase of 31.13% compared to the previous year, indicating improved free cash flow to support strategic transformation and R&D investments [2][3] Financial Performance - Revenue: 41.067 billion yuan in 2024, down from 41.400 billion yuan in 2023, a decrease of 0.80% [2] - Net Profit: 2.770 billion yuan in 2024, up from 2.386 billion yuan in 2023, an increase of 16.08% [1][2] - Net Profit (excluding non-recurring items): 2.314 billion yuan, a rise of 15.10% from 2.011 billion yuan in 2023 [2] - Basic Earnings per Share: 1.04 yuan [1] Business Segmentation - Pharmaceutical Revenue: 28.924 billion yuan, a decline of 4.29% year-on-year; key products like Hanquyou® (trastuzumab) saw global sales of 2.810 billion yuan, an increase of 11% [3] - Medical Devices and Diagnostics Revenue: 4.323 billion yuan, down 1.53% due to decreased demand for COVID-19 products [3] - Healthcare Services Revenue: 7.647 billion yuan, an increase of 14.61% driven by specialized construction and smart healthcare initiatives [3] R&D and Innovation - R&D Investment: 5.554 billion yuan, accounting for 13.52% of revenue; seven innovative drugs/biosimilars were approved for market [3] - Notable Approvals: Slulizumab received EU approval, and HLX14 (biosimilar to dezuizumab) is under review in the US and EU [3] - Collaboration: The company is exploring new directions in nuclear medicine and gene therapy through partnerships with industry funds [3] Shareholder Returns - Proposed Dividend: The company plans to distribute a cash dividend of 3.20 yuan per 10 shares (tax included) [3]

Core Insights - The company has experienced a decline in revenue for two consecutive years, with a reported revenue of 41.067 billion yuan in 2024, down 0.8% year-on-year [4][5] - Despite the revenue decline, net profit increased by 16.08% to 2.770 billion yuan, primarily due to non-recurring gains and a reduction in R&D expenses [10][11] - The company's reliance on short-term financial maneuvers raises concerns about its long-term growth potential [2][3] Revenue Performance - In 2022, the company achieved a peak revenue of 43.952 billion yuan, but revenue fell to 41.400 billion yuan in 2023, a decrease of 5.81% [5][6] - The core pharmaceutical business saw a revenue drop of 4.29% in 2024, with significant declines in key product categories such as anti-infection and central nervous system drugs [6][8] - The only growth area was cardiovascular products, which saw a revenue increase of 14% [7] Profitability Factors - The increase in net profit was supported by non-recurring gains of 456 million yuan, including asset disposal gains of 371 million yuan and government subsidies of 614 million yuan [10][11] - R&D expenses were reduced by 16.15%, with a significant portion of R&D spending being capitalized, leading to an increase in intangible assets to 14.468 billion yuan [11][12] - The company's net profit margin improved to 8.55%, up 1.56 percentage points, due to reduced R&D expenses [15] Debt and Financial Structure - The company experienced a significant increase in short-term borrowings, reaching 18.711 billion yuan, which raised concerns about its debt structure [15] - The proportion of short-term borrowings in total interest-bearing liabilities increased from 52.2% in 2023 to 64.7% in 2024, indicating a shift towards short-term financing [15] - Financial expenses rose by 12.82% to 1.111 billion yuan, reflecting the deteriorating debt structure [15]

Core Points - The Shanghai Composite Index opened lower and the CSI 300 Pharmaceutical and Biotechnology Index reported 7479.61 points [1] - The CSI 300 Pharmaceutical and Biotechnology Index has decreased by 0.64% in the past month, increased by 3.66% over the last three months, and has risen by 0.48% year-to-date [1] Industry Composition - The CSI 300 Pharmaceutical and Biotechnology Index is composed of 11 primary industries, 35 secondary industries, over 90 tertiary industries, and more than 200 quaternary industries [1] - The index is based on the performance of all securities in the CSI 300 Index classified by industry, with a base date of December 31, 2004, and a base point of 1000.0 [1] Index Holdings - The top ten holdings in the CSI 300 Pharmaceutical and Biotechnology Index are: - Heng Rui Medicine (24.75%) - WuXi AppTec (15.82%) - Pian Zai Huang (6.85%) - Yunnan Baiyao (5.7%) - Kelun Pharmaceutical (4.68%) - New Horizon (3.79%) - East China Pharmaceutical (3.64%) - Shanghai Raist (3.44%) - Fosun Pharma (3.38%) - Changchun High-tech (3.17%) [1] Market Distribution - The market distribution of the CSI 300 Pharmaceutical and Biotechnology Index shows that the Shanghai Stock Exchange accounts for 63.33% and the Shenzhen Stock Exchange accounts for 36.67% [2] Sector Breakdown - The sector breakdown of the index holdings indicates that: - Chemical drugs account for 42.69% - Pharmaceutical and biotechnology services account for 21.06% - Traditional Chinese medicine accounts for 19.74% - Biological drugs account for 16.51% [2] Sample Adjustment - The index samples are adjusted every six months, with adjustments implemented on the next trading day after the second Friday of June and December each year [2] - Weight factors are adjusted in accordance with sample changes, and any special events affecting a sample company's industry classification will lead to corresponding adjustments in the index [2]

Investment Rating - The report does not explicitly state an investment rating for the industry, but it suggests a long-term focus on domestic innovative drugs in the oncology field and AI medical investment opportunities [3][4]. Core Insights - The pharmaceutical and biotechnology sector saw a weekly increase of 1.16%, outperforming the Wind All A index (1.15%) and the CSI 300 index (0.38%) [3][8]. - The upcoming ASCO conference is highlighted as a significant event for domestic innovative drug companies, with over 70 oral presentations and more than 10 major studies expected [3][4]. - The Ministry of Industry and Information Technology and six other departments issued a plan for the digital transformation of the pharmaceutical industry, aiming for significant advancements by 2027 and full coverage by 2030 [3][4]. Market Weekly Review - The pharmaceutical and biotechnology sector increased by 1.16% from April 21 to April 25, outperforming the Wind All A index and the CSI 300 index [3][8]. - Notable performers included medical research outsourcing (6.34%) and raw materials (4.72%), while blood products (-3.26%) and vaccines (-6.38%) continued to decline [3][9]. - Individual stock performances showed significant gains for Yong'an Pharmaceutical (31.4%), Shuyou Shen (28.4%), and Erkang Pharmaceutical (27.7%), while *ST Jiyuan (-43.2%), Nanhua Biological (-35.3%), and Shuangcheng Pharmaceutical (-27.7%) faced substantial losses [3][11]. Industry News and Key Company Announcements - On April 25, Kangfang Bio announced FDA approval for its drug Anike for the treatment of recurrent or metastatic nasopharyngeal carcinoma [12]. - The same day, Kangfang Bio also reported the approval of its PD-1/VEGF bispecific antibody for first-line treatment of specific lung cancer types [13]. - The digital transformation plan for the pharmaceutical industry aims to enhance competitiveness and quality management through AI and data integration by 2030 [3][4].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 上 海 復 星 醫 藥（ 集 團 ）股 份 有 限 公 司 Shanghai Fosun Pharmaceutical (Group) Co., Ltd.* （ 於中華人民共和國註冊成立的股份有限公司） （股份代號：02196） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 於本公告日期，本公司之執行董事為吳以芳先生、王可心先生、關曉暉女士及文德鏞先生；本公司之非執行 董事為陳啟宇先生、徐曉亮先生、潘東輝先生及陳玉卿先生；以及本公司之獨立非執行董事為李玲女士、湯 谷良先生、王全弟先生及余梓山先生。 * 僅供識別 证券代码：600196 股票简称：复星医药 编号：临 2025-076 茲載列上海復星醫藥（ 集團 ）股份有限公司（「本公司」）在上海證券交易所網站刊登的《關於 2025年度第一期中期票據（ 科創票據）發行完成的公告》，僅供參閱。 承董事會命 上海復星醫藥 ...

自願公告 關於完成2025年度第一期中期票據發行 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 上 海 復 星 醫 藥（ 集 團 ）股 份 有 限 公 司 Shanghai Fosun Pharmaceutical (Group) Co., Ltd. * 於中華人民共和國註冊成立的股份有限公司） （股份代號：02196） 本公司近日於通知書項下註冊額度內完成2025年度第一期中期票據（ 科創票據（）「本期中期 票據」）的發行，現將本期中期票據發行結果公告如下： 中期票據名稱 上 海 復 星 醫 藥（ 集 團 ）股 份 有 限 公 司 2025 年 度 第 一 期 中 期 票 據 （ 科創票據） 中期票據簡稱 25復星醫藥MTN 001 （ 科創票據） 中期票據代碼 102581875 實際發行總額 人民幣5億元 期限 2年 計息方式 固定利率，每年付息一次，到期一次還本付息 單位面值 人民幣100元 發行利率 3.10% 起息日期 2025年4月2 ...

证券代码：600196 股票简称：复星医药 编号：临 2025-076 上海复星医药（集团）股份有限公司 关于 2025 年度第一期中期票据（科创票据）发行完成的 公告 本公司关联方复星联合健康保险股份有限公司参与本期中期票据的认购，最终 获配金额为人民币0.5亿元。 本次发行详情及有关文件请见中国货币网（http://www.chinamoney.com.cn） 和上海清算所网站（http://www.shclearing.com.cn）。 1 特此公告。 上海复星医药（集团）股份有限公司 董事会 二零二五年四月二十七日 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。 中国银行间交易商协会于 2025 年 3 月 20 日出具《接受注册通知书》（中市协 注[2025]MTN272 号）（以下简称"通知书"），接受上海复星医药（集团）股份有 限公司（以下简称"本公司"）中期票据注册，注册金额为人民币 40 亿元，注册额 度自 2025 年 3 月 20 日起 2 年内（以下简称"注册有效期"）有效，并可分期发行。 近日，本公司 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 上 海 復 星 醫 藥（ 集 團 ）股 份 有 限 公 司 Shanghai Fosun Pharmaceutical (Group) Co., Ltd. * 於中華人民共和國註冊成立的股份有限公司） （股份代號：02196） 由於合夥協議相關交易方與過往關連交易相關交易方均與復星高科技及╱或其聯繫人相 關，因此根據香港上市規則第14A.81條的規定，合夥協議項下擬進行的交易及過往關連 交易應予以合併計算。由於經合併計算後的最高適用百分比率超過0.1%但低於5 %，根據 香 港 上 市 規 則 ， 合 夥 協 議 項 下 擬 進 行 的 交 易 須 遵 守 香 港 上 市 規 則 第 14A 章 有 關 申 報 及 公 告的規定，而豁免遵守獨立股東批准的規定。 – 1 – （ A . 成立合夥企業 董事會欣然宣佈，於2025年4月25日，本公司附屬公司復星平耀與上海復健、復星高科 技及復 曜智港 簽訂合 ...