湿疹制剂是指专门用于预防、缓解或治疗湿疹的各类药物或护理产品的统称。其核心作用是通过抗炎、止痒、修复皮肤屏障或调节免疫等机制，改善湿疹患 者的皮肤症状、减少复发并提升皮肤耐受性。 从患者年龄结构来看，皮炎湿疹的患病人群展现出覆盖全生命周期的广泛特征但核心群体高度集中。其中，18至60岁的青壮年构成了患者基数的绝对核心， 占比高达51.6%，这部分人群社会活动频繁，对生活质量和治疗效率的要求更高。同时，2至12岁的学龄前及学龄儿童是另一大主要患病群体，合计占比 20.7%。 湿疹发病率逐年上升及健康意识增强:环境恶化、精神压力增加等推动湿疹发病率持续攀升，加之消费者对皮肤健康的关注度不断提升，将促使湿疹患者主 动寻求专业治疗和优质用药。2019-2024年，中国湿疹制剂市场规模由40.3亿元增长至52.8亿元，期间复合增长率为5.5%。 湿疹制剂行业的主要企业包括外资药企和国内药企，外资药企在高端市场占据主导地位，国内药企则凭借价格优势和渠道覆盖能力在中低端市场有较强竞争 力。目前行业中主要企业为：恒瑞医药、信达生物、康诺亚、仙琚制药等。 华经产业研究院研究团队使用桌面研究与定量调查、定性分析相结合的方式，全面 ...

11月12早盘，创新药强势上攻，医疗创新ETF(516820.SH) 现涨1.06%。成分股三生国健(688336)上涨 7.75%，百利天恒(688506)上涨3.83%，新产业(300832)上涨3.09%，科伦药业(002422)，恒瑞医药 (600276)等个股跟涨。 从资金净流入方面来看，医疗创新ETF近7天获得连续资金净流入，最高单日获得4427.89万元净流入， 合计"吸金"7869.92万元，日均净流入达1124.28万元。 上周，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完成，120家内外资企业 现场参与，其中参与基本医保药品目录谈判竞价的目录外药品127个，参与商保创新药目录价格协商的 药品24个。 兴业证券指出，近期创新药BD持续落地，已BD品种海外3期临床快速推进，创新药板块情绪回升，当 前产业趋势不变，短期调整后板块弹性进一步提升。同时，可继续重点关注景气度已复苏的创新药产业 链，当前在投融资数据、订单和业绩层面均看到向好趋势。此外，左侧角度出发，考虑行业逐步复苏， 我们认为可逐步关注医疗器械及中药等领域。 美国降息预期提升，将强化全球流动性与科技股的趋势，对 ...

资金流向方面，主力资金净流入9341.89万元，特大单买入1.08亿元，占比14.36%，卖出5898.20万元， 占比7.83%；大单买入2.11亿元，占比27.97%，卖出1.66亿元，占比22.09%。 11月12日，恒瑞医药盘中上涨2.01%，截至09:50，报62.29元/股，成交7.53亿元，换手率0.19%，总市值 4134.31亿元。 截至9月30日，恒瑞医药股东户数39.73万，较上期增加8.94%；人均流通股16058股，较上期减少 8.21%。2025年1月-9月，恒瑞医药实现营业收入231.88亿元，同比增长14.85%；归母净利润57.51亿元， 同比增长24.50%。 分红方面，恒瑞医药A股上市后累计派现93.03亿元。近三年，累计派现35.68亿元。 机构持仓方面，截止2025年9月30日，恒瑞医药十大流通股东中，香港中央结算有限公司位居第三大流 通股东，持股4.87亿股，相比上期减少4817.92万股。中国证券金融股份有限公司位居第八大流通股东， 持股9539.98万股，持股数量较上期不变。华夏上证50ETF（510050）位居第九大流通股东，持股 8529.34万股，相比上期 ...

今年以来，港股市场已有87只新股IPO上市，IPO募资总额超2400亿港元，位居全球交易所首位。宁德 时代（300750）、恒瑞医药（600276）、赛力斯（601127）等一批A股市值超过千亿元的龙头企业相继 登陆港交所，成为A+H上市热潮中的主力军。 截至11月11日，今年以来共有16家A股上市公司成功登陆港股市场，超80家A股上市公司已在港交所排 队，还有中际旭创（300308）等多家A股上市公司已公告拟在港交所上市，但目前尚未递表。另外，今 年以来递表港交所的公司已超300家，创年度历史新高。 机构人士认为，今年以来港股IPO规模大幅回暖，后续更有A股各行业领军企业排队上市，有望进一步 优化港股市场结构，更能反映中国经济的结构性方向，优质企业赴港上市也将进一步提升港股市场的资 产质量及流动性水平。 港股IPO募资总额超2400亿港元 2025年以来，港股IPO市场展现出强劲的复苏势头，募资市场活跃度较去年同期大幅提升。 数据显示，截至11月11日，港股市场有87只新股成功挂牌交易，募资总额超2400亿港元，这一募资规模 居全球交易所首位。其中，A股上市公司赴港二次上市的表现尤为抢眼，今年已有16家A股 ...

Group 1 - The Hong Kong IPO market has seen 87 new listings this year, raising over 240 billion HKD, making it the leading exchange globally for IPO fundraising [1][2] - A total of 16 A-share companies have successfully listed on the Hong Kong Stock Exchange this year, with over 80 more in the pipeline, indicating a significant trend of A+H listings [1][2][6] - Leading companies such as CATL, Heng Rui Medicine, and Sai Li Si have been pivotal in this A+H listing wave, with most of them having market capitalizations exceeding 200 billion [2][3] Group 2 - The fundraising performance of leading companies has shown a "siphoning effect," with CATL alone raising 41.006 billion HKD, accounting for over 30% of the total fundraising by A+H companies [3] - The majority of the 16 A+H listed companies are concentrated in the technology and consumer sectors, reflecting a structural shift in the Hong Kong market [3][8] - The first-day performance of newly listed companies has been robust, with 12 out of 16 stocks either rising or closing flat on their debut [3] Group 3 - There is a notable trend of H-shares trading at higher valuations than A-shares for some leading companies, indicating strong international capital interest in these core assets [4] - A record 302 companies have submitted IPO applications to the Hong Kong Stock Exchange this year, marking a historical high [4][6] - The technology sector has seen the highest number of IPO applications, with 121 companies, followed by healthcare and industrial sectors [5] Group 4 - The surge in A-share companies applying for listings in Hong Kong has exceeded the total from the past decade, with 95 companies submitting applications since 2025 [6] - The current IPO boom is driven by several factors, including tightened financing channels in A-shares and favorable policies in Hong Kong [7] - Analysts predict that the trend of high IPO activity will continue into 2026, although a potential stabilization may occur later in the year [7][8]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 江蘇恒瑞醫藥股份有限公司 呈交日期： 2025年11月11日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | A | 於香港聯交所上市 | 否 | | | 證券代號 (如上市) | 600276 | 說明 | A股（於上海證券交易所上市） | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | 事件 | | | 已發行股份（不包括庫存股份）變動 佔有關事件前的現有已發 | 庫存股份變動 | 每股發行/出售價 (註4) | 已發行股份總 ...

格隆汇11月11日丨恒瑞医药(01276.HK)发布公告，2025年11月11日耗资人民币915.26万元回购15万股A 股，回购价格每股61.01-61.07元。 ...

智通财经APP讯，恒瑞医药(01276)发布公告，于2025年11月11日斥资915.26万元回购15万股A股股份。 ...

恒瑞医药（600276）(01276)发布公告，于2025年11月11日斥资915.26万元回购15万股A股股份。 ...

Core Insights - The core viewpoint of the report is that Heng Rui Pharmaceutical has demonstrated significant profit growth in the first three quarters of 2025, driven by innovative drug development and accelerated external collaborations [1] Financial Performance - In the first three quarters of 2025, Heng Rui Pharmaceutical achieved a net profit attributable to shareholders of 5.751 billion yuan, representing a year-on-year increase of 24.50% [1] - In Q3 alone, the net profit attributable to shareholders was 1.301 billion yuan, showing a year-on-year growth of 9.53% [1] Growth Drivers - The rapid growth in performance is attributed to two main factors: 1. Continuous realization of results from innovative drug research and development, leading to increased market penetration of core products [1] 2. Accelerated external licensing collaborations, contributing to incremental revenue from upfront payments and milestone achievements [1] Innovation and R&D - The company has an efficient innovative pipeline, with a continuous expansion of its core product matrix [1] - Multiple new technology platforms, including a new molecular model platform and an AI drug development platform, are being iterated to support ongoing source innovation [1] - The strong independent R&D capabilities of the company position it well for future innovative drug results to enter international markets, potentially leading the wave of domestic innovative drugs going abroad [1] Valuation - Based on the PE valuation method and comparable company valuation levels, the company is given a target price of 78.52 yuan, corresponding to a 52 times price-to-earnings ratio for 2026 [1] - The report maintains a "Buy" rating for the company [1]