从资金流向上来看，当日动物保健板块主力资金净流出1512.58万元，游资资金净流出0.88万元，散户资 金净流入1513.46万元。动物保健板块个股资金流向见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 证券之星消息，12月16日动物保健板块较上一交易日上涨1.06%，生物股份领涨。当日上证指数报收于 3824.81，下跌1.11%。深证成指报收于12914.67，下跌1.51%。动物保健板块个股涨跌见下表： ...

Group 1 - The core viewpoint of the article is that the company, BioShares (600201.SH), has confirmed that both its rabies vaccine and cat trivalent vaccine are currently on sale [1] - The cat trivalent vaccine has seen significant sales growth in the first three quarters, facilitated by a combination of online and offline sales strategies [1]

Group 1 - The core viewpoint of the article is that the company, Shengwu Co., Ltd. (600201.SH), has confirmed that both its rabies vaccine and cat trivalent vaccine are currently on sale [1] - The cat trivalent vaccine has seen significant sales growth in the first three quarters, attributed to the integration of online and offline sales channels [1]

Core Viewpoint - Junshi Biosciences has submitted its listing application to the Hong Kong Stock Exchange, focusing on innovative cell therapies and drug development for solid tumors, with its core product GC101 expected to be the first approved tumor-infiltrating lymphocyte (TIL) therapy [1][2]. Financial Performance - The company is projected to incur net losses of approximately RMB 94 million, RMB 164 million, and RMB 98 million for the years 2023, 2024, and the first half of 2025, respectively [3][4]. - Research and development costs are expected to be RMB 57.62 million, RMB 90.99 million, and RMB 52.80 million for the years 2023, 2024, and the first half of 2025, respectively [5]. Product Development - GC101 is currently undergoing a key Phase II clinical trial for melanoma and is expected to submit a Biologics License Application (BLA) by 2026. Additionally, it is in Phase Ib for non-small cell lung cancer [2]. - The company has established a TIL production base in China, utilizing high-standard production equipment and a digital management platform to ensure scalable preparation and reliable delivery of TIL cell products [2]. Fundraising Purpose - The funds raised from the listing are intended to advance the clinical development of TIL product pipelines, upgrade the company's technology platform, enhance production management and manufacturing capabilities, and support working capital and other general corporate purposes [2].

Core Viewpoint - Luye Pharma Group Limited has completed the issuance of 1.5 million exchangeable preferred shares, which can be exchanged for existing shares of Boan Biotechnology, representing approximately 16.15% of Boan's total issued shares [1] Group 1 - The issuer, Luye Geneora Holding Limited, a wholly-owned subsidiary of the company, has allocated and issued 1.5 million exchangeable preferred shares to the subscribers [1] - The exchangeable preferred shares can be converted into shares of Boan Biotechnology without the issuance of any new shares by Boan [1] - Based on the initial exchange price of HKD 11.718, the total number of Boan shares deliverable upon the exchange of all preferred shares is up to 100,486,431 shares [1]

从资金流向上来看，当日动物保健板块主力资金净流出7682.64万元，游资资金净流出3965.3万元，散户 资金净流入1.16亿元。动物保健板块个股资金流向见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 证券之星消息，12月12日动物保健板块较上一交易日上涨1.82%，生物股份领涨。当日上证指数报收于 3889.35，上涨0.41%。深证成指报收于13258.33，上涨0.84%。动物保健板块个股涨跌见下表： ...

农林牧渔行业 超配（维持） 农林牧渔行业双周报（2025/11/28-2025/12/11） 行 业 生猪价格有所回升 2025 年 12 月 12 日 投资要点： 风险提示：疫病大规模爆发，价格下行，自然灾害，市场竞争加剧等。 证 | | | 本报告的风险等级为中高风险。 本报告的信息均来自已公开信息，关于信息的准确性与完整性，建议投资者谨慎判断，据此入市，风险自担。 请务必阅读末页声明。 分析师：魏红梅 SAC 执业证书编号： S0340513040002 电话：0769-22119462 邮箱：whm2@dgzq.com.cn SW农林牧渔行业跑输沪深300指数。2025年11月28日—2025年12月11日， SW农林牧渔行业下跌0.92%，跑输同期沪深300指数约1.73个百分点；细分 板块中，仅动物保健和种植业录得正收益，分别上涨1.96%和1.18%；农产 品加工、饲料、养殖业和渔业均录得负收益，分别下跌1.01%、1.5%、3.03% 和3.76%。估值方面，截至2025年12月11日，SW农林牧渔行业指数整体PB （整体法，最新报告期，剔除负值）约2.75倍，近两周估值有所回落。目 前行业估 ...

Group 1 - The China Livestock Breeding Index (930707) increased by 0.44% as of December 12, 2025, with notable gains in constituent stocks such as Luo Niu Shan (000735) up 6.21%, and BioShares (600201) up 2.99% [1] - The Central Reserve Frozen Pork Rotation Storage Auction will take place on December 18, 2025, with 3,100 tons available for bidding, as announced by the China Storage Network [1] - Recent analysis indicates that traditional peak season for pork consumption is leading to a steady recovery in demand, driven by colder weather and increased demand for cured meats in southern regions, although supply remains high due to previous production capacity [1] Group 2 - As of November 28, 2025, the top ten weighted stocks in the China Livestock Breeding Index account for 65.6% of the index, including Muyuan Foods (002714) and Wens Foodstuff Group (300498) [2] - The index reflects the overall performance of listed companies involved in livestock feed, veterinary drugs, and livestock farming [1]

Company Overview - Junshi Biosciences Co., Ltd. (君赛生物) has submitted a listing application to the Hong Kong Stock Exchange, with CITIC Securities acting as the sole sponsor [1] - The company focuses on innovative cell therapies and drug development for solid tumors, aiming to provide safer, more effective, and affordable immunotherapy options [3][4] Product Information - The core product, GC101, is the world's first tumor-infiltrating lymphocyte (TIL) therapy that does not require high-intensity lymphodepletion or IL-2 administration, potentially becoming the first TIL therapy approved in China [3][4] - Clinical trials have shown that GC101 can provide objective response rates of 30% for metastatic melanoma and 41.7% for non-small cell lung cancer, with a median progression-free survival of 5.5 months for melanoma patients [4] Financial Performance - The company reported revenues of RMB 6.812 million, RMB 3.372 million, and RMB 6.830 million for the fiscal years ending June 30, 2023, 2024, and 2025, respectively [5] - Losses for the same periods were RMB 94.391 million, RMB 163.652 million, and RMB 97.580 million, indicating significant financial challenges [6][7] Market Overview - The global oncology drug market is projected to grow to USD 253.3 billion by 2024, with a compound annual growth rate (CAGR) of 13.9% from 2020 to 2024 [8] - The Chinese oncology drug market is expected to reach RMB 258.2 billion by 2024, with a CAGR of 6.9% during the same period [11] TIL Therapy Market - The global TIL therapy market is anticipated to grow from USD 10.4 million in 2024 to USD 1.692 billion by 2030, with a CAGR of 59.3% from 2024 to 2028 [14] - In China, the TIL therapy market is expected to reach USD 200 million by 2030, with a CAGR of 40.0% from 2030 to 2035, outpacing global growth rates [14][17] Board of Directors - The board consists of 9 members, including 4 executive directors, 2 non-executive directors, and 3 independent non-executive directors, with a term of 3 years [18] Shareholding Structure - As of December 5, 2025, Dr. Jin holds a 34.5% stake in the company, with other significant shareholders including Kai Tai Capital and Yuan He Yuan Dian [21][23]

Core Viewpoint - Junshi Biosciences has submitted an application for listing on the Hong Kong Stock Exchange, aiming to advance its innovative cell therapy and drug development for solid tumors [1] Company Overview - Junshi Biosciences is a biotechnology company focused on developing safer, more effective, accessible, and affordable immune cell therapies for solid tumors, without being restricted by fixed molecular targets [1] - The company’s core product, GC101, is the world's first tumor-infiltrating lymphocyte (TIL) therapy that does not require high-intensity lymphodepletion chemotherapy or IL-2 administration, positioning it to potentially be the first TIL therapy approved for market in China [1] Market Position - The application for listing is supported by CICC as the exclusive sponsor, indicating a strategic move to enhance its market presence and funding capabilities [1] - According to Frost & Sullivan, the innovative approach of Junshi Biosciences could address some of the most common and difficult-to-treat solid tumors, highlighting its potential impact in the oncology market [1]