恒瑞医药最新一期业绩显示，截至2025三季报，公司营业总收入231.88亿元、同比增长14.85%，归属净 利润57.51亿元，同比增长24.50%，扣非净利润55.89亿元，同比增长21.08%，流动比率6.546、速动比率 6.197、资产负债率12.14%。 天眼查商业履历信息显示，江苏恒瑞医药股份有限公司，成立于1997年，位于连云港市，是一家以从事 医药制造业为主的企业。企业注册资本637900.2274万人民币，实缴资本6190万人民币。公司法定代表 人为孙飘扬。 通过天眼查大数据分析，江苏恒瑞医药股份有限公司共对外投资了37家企业，参与招投标项目5000次， 知识产权方面有商标信息397条，专利信息1591条，此外企业还拥有行政许可1617个。 来源：市场资讯 据交易所数据显示，截至2025年12月5日收盘，恒瑞医药（600276）报收于61.62元，上涨0.6%，换手率 0.36%，成交量23.12万手，成交金额14.19亿元。 资金流向方面，今日主力资金净流入4403.55万元，占比成交额3.1%。其中，超大单净流出1.65万元、 占成交额0.0%，大单净流入4405.20万元、占成交额3. ...

朱国新是恒瑞医药今年引入的第二位跨国药企核心高管，或将 成为这家公司的7号人物。 作者： 刘晓诺 封图：图虫创意 想出海的"医药一哥"，正不断引进有海外经验的"船长"和"大副"。 2025年12月3日，恒瑞医药（600276.SH/01276.HK）宣布提名聘任朱国新为高级副总裁。公开信 息显示，加入恒瑞之前，朱国新曾是跨国公司礼来的新药研发中心副总裁。 胡新辉任副总裁与首席技术官。据公开资料，2005—2018年，胡新辉曾在葛兰素史克、默沙东、 强生、罗氏上海研发中心等多家跨国药企任职。此后，他先后担任云顶新耀（01952.HK）首席技 术官、凯莱英（002821.SZ/06821.HK）首席技术官兼首席商务官。 孙志刚任副总裁与首席质量官。加入恒瑞医药之前，他是绿叶制药（02186.HK）集团高级副总 裁。他曾在美国FDA工作近12年，负责药品质量审评和GMP现场检查等工作。 尹航任副总裁与肿瘤事业部总经理。他曾任职于诺和诺德，2019年加入礼来中国，2021年8月起任 礼来肿瘤事业部副总裁，直至2025年9月离任。 此外，10月10日，恒瑞医药控股的互联网医疗公司医朵云也迎来新高管：前阿斯利康中国副总裁 ...

一位上市创新药企董事长对经济观察报说："朱国新应该算华人在跨国药企中位子比较高的人了。这个人口碑相当不错，年纪也正当年，应该是1968-1969年 出生。我觉得对今天的恒瑞是一个很好的选择。" 朱国新是恒瑞医药今年引入的第二位跨国药企核心高管。4月，冯佶成为恒瑞医药近年引进的首位跨国药企中国区"一把手"。 她生于1970年，曾就职于上海仁济医院、诺华和安万特。此后，冯佶在阿斯利康工作20多年，曾担任中国区总经理、亚洲区区域副总裁、全球商业洞察与卓 越业务高级副总裁等职务。 10月，恒瑞医药还官宣了三位新任副总裁，均有海外背景： 胡新辉任副总裁与首席技术官。据公开资料，2005—2018年，胡新辉曾在葛兰素史克、默沙东、强生、罗氏上海研发中心等多家跨国药企任职。此后，他先 后担任云顶新耀（01952.HK）首席技术官、凯莱英（002821.SZ/06821.HK）首席技术官兼首席商务官。 经济观察报 记者 刘晓诺 想出海的"医药一哥"，正不断引进有海外经验的"船长"和"大副"。 2025年12月3日，恒瑞医药（600276.SH/01276.HK）宣布提名聘任朱国新为高级副总裁。公开信息显示，加入恒瑞之前，朱国 ...

Investment Rating - The report maintains an "Overweight" rating for the pharmaceutical and biotechnology industry, expecting it to outperform the CSI 300 index by more than 10% in the next six months [4][26]. Core Insights - The SW pharmaceutical and biotechnology industry underperformed the CSI 300 index, declining by 1.25% from November 21 to December 4, 2025, which is approximately 0.85 percentage points lower than the index [4][11]. - Most sub-sectors within the industry recorded negative returns during the same period, with the pharmaceutical distribution and offline pharmacy sectors showing positive growth of 4.18% and 0.37%, respectively. In contrast, the medical research outsourcing and vaccine sectors experienced declines of 4.57% and 4.45% [4][12]. - Approximately 35% of stocks in the industry recorded positive returns, while about 65% saw negative returns during the reporting period [4][13]. - The overall price-to-earnings (PE) ratio for the SW pharmaceutical and biotechnology industry was approximately 51.20 times as of December 4, 2025, indicating a decline in industry valuation [4][17]. Summary by Sections 1. Market Review - The SW pharmaceutical and biotechnology industry underperformed the CSI 300 index, with a decline of 1.25% from November 21 to December 4, 2025 [11]. - Most sub-sectors recorded negative returns, with pharmaceutical distribution and offline pharmacies performing relatively well [12]. - About 35% of stocks in the industry had positive returns, while 65% had negative returns [13]. - The industry valuation has decreased, with a PE ratio of 51.20 times [17]. 2. Industry News - The report highlights significant industry news, including the announcement of centralized procurement results for medical consumables in Liaoning Province, which included 799 products [24]. - The report also mentions the release of the "Clinical Blood Use Technical Specifications (2025 Edition)" by the National Health Commission [20]. 3. Company Announcements - Dongcheng Pharmaceutical announced that its subsidiary received a production license for radioactive pharmaceuticals, which is not expected to significantly impact current performance [25]. 4. Weekly Industry Outlook - The report maintains an "Overweight" rating for the industry, suggesting a focus on investment opportunities in the flu-related sector due to increased flu cases compared to the previous year [26][29]. - Recommended stocks include leading companies in medical devices, pharmaceutical retail, aesthetic medicine, scientific services, and traditional Chinese medicine [26][29].

证券之星消息，12月4日，医疗健康（980016）指数报收于6253.16点，涨0.38%，成交141.17亿元，换手 率0.51%。当日该指数成份股中，上涨的有22家，泽璟制药以3.73%的涨幅领涨，下跌的有27家，华大智 造以3.25%的跌幅领跌。 医疗健康（980016）指数十大成份股详情如下： | 医疗健康指数 十大成份股 | | --- | | 证券代码 | 股票简称 | 权重 | 最新价 | 涨跌幅 | 总市值(亿元) | | 所属行业 | | --- | --- | --- | --- | --- | --- | --- | --- | | sh603259 | 药明康德 | 13.66% | 89.59 | 2.25% | | 2673.15 | 医药生物 | | sh600276 | 恒瑞医药 | 11.00% | 61.25 | 0.46% | | 4065.28 | 医药生物 | | sz300760 | 迈瑞医疗 | 7.57% | 200.00 | 0.25% | | 2424.88 | 医药生物 | | sh688271 | 联影医疗 | 4.27% | 128.87 | -0.0 ...

Market Overview - The Investment Clock Index (399391) closed at 3348.4 points, down 0.13%, with a trading volume of 67.987 billion yuan and a turnover rate of 0.74% [1] - Among the index constituents, 28 stocks rose while 71 stocks fell, with China High-Tech leading the gainers at an 8.25% increase and Xi'an Catering leading the decliners with a 5.74% drop [1] Top Constituents - The top ten constituents of the Investment Clock Index include: - Kweichow Moutai (16.68% weight) at 1423.98 yuan, down 0.36% [1] - China Merchants Bank (15.74% weight) at 43.22 yuan, up 0.49% [1] - Zijin Mining (7.34% weight) at 30.69 yuan, up 2.40% [1] - Wuliangye (5.26% weight) at 114.45 yuan, down 0.99% [1] - Hengrui Medicine (4.84% weight) at 61.25 yuan, up 0.46% [1] - Gree Electric Appliances (4.03% weight) at 40.94 yuan, up 0.32% [1] - Yili Industrial (3.04% weight) at 28.99 yuan, down 0.96% [1] - Northern Rare Earth (2.49% weight) at 46.66 yuan, down 1.19% [1] - Fuyao Glass (2.35% weight) at 63.82 yuan, down 1.25% [1] - Luzhou Laojiao (2.31% weight) at 127.71 yuan, down 3.76% [1] Capital Flow - The net outflow of main funds from the Investment Clock Index constituents totaled 3.827 billion yuan, while speculative funds saw a net inflow of 1.326 billion yuan and retail investors had a net inflow of 2.502 billion yuan [1] - Detailed capital flow for specific stocks includes: - China High-Tech with a net inflow of 1.30 billion yuan from main funds [2] - Yunnan Copper with a net inflow of 85.73 million yuan from main funds [2] - Weichai Power with a net inflow of 82.78 million yuan from main funds [2]

近日，富时罗素宣布对旗下中国股票指数系列进行季度审核调整，涉及富时中国50指数、富时中国A50指数、富时中国A150指数等，所有变动将 于12月22日起生效。 公告显示，富时中国50指数将纳入三家公司，分别是中国宏桥、宁德时代、恒瑞医药。同时，三家公司将被剔除，分别是中信建投证券、长城汽 车、理想汽车。 富时中国50指数的储备名单包括中国铝业、翰森制药、华泰证券、京东健康、新华保险。 据悉，富时罗素是伦敦证券交易所集团旗下公司，为全球机构投资者提供指数和数据解决方案。此次季度调整反映了中国股票市场市值和流动性 的变化。这些指数被国际投资者广泛追踪，是投资中国市场的重要基准。 富时中国A50指数将纳入洛阳钼业、阳光电源，删除江苏银行、顺丰控股。 富时中国A50指数的备选股名单包括江苏银行、顺丰控股、赛力斯、胜宏科技和万华化学。若在下次季度审核前有成分股被删除，这些公司将被 纳入指数。 孟磊预计，由于名义GDP增速提升和PPI跌幅收窄推升企业营收增速，且支持政策的推出以及"反内卷"的推进带动利润率复苏，2026年全部A股盈 利增速有望从今年的6%进一步升至8%。 11月27日，摩根大通发布2026年展望，预计20 ...

Core Viewpoint - FTSE Russell announced changes to several indices, including the FTSE China 50 Index, FTSE China A50 Index, FTSE China A150 Index, FTSE China A200 Index, and FTSE China A400 Index, effective after the market close on December 19, 2025 [1]. Group 1: Index Adjustments - The FTSE China A50 Index will include Luoyang Molybdenum (603993) and Sungrow Power Supply (300274), while removing Jiangsu Bank (600919) and SF Holding (002352) [4][6]. - The FTSE China 50 Index will add China Hongqiao, CATL (300750), and Hengrui Medicine (600276), while excluding CITIC Securities (601066), Great Wall Motors (601633), and Li Auto [6][8]. - The FTSE China A150 Index will incorporate Ying Shi Innovation, Jiangsu Bank, Huadian New Energy, SF Holding, Jiangbolong, and Huayou Cobalt (603799), while removing Luoyang Molybdenum, Desay SV (002920), Changdian Technology (600584), Baoxin Software (600845), Shanghai Pharmaceuticals (601607), and Sungrow Power Supply [10][12]. - The FTSE China A200 Index will add Ying Shi Innovation, Huadian New Energy, Jiangbolong, and Huayou Cobalt, while excluding Desay SV, Changdian Technology, Baoxin Software, and Shanghai Pharmaceuticals [12]. - The FTSE China A400 Index will see a broader adjustment, adding Anji Technology (688019), Baiyin Nonferrous (601212), Yitang Co., and Bluefocus Communication Group (300058), while removing Chipbond Technology, Yipin Hong (300723), Guanghui Network (300383), and Huaxi Biological [13][14]. Group 2: Market Impact - The adjustments by FTSE Russell are expected to attract passive fund allocations to the newly included stocks and increase overseas interest in Chinese assets [17]. - In the first ten months of 2025, foreign capital inflow into the Chinese stock market reached $50.6 billion, significantly surpassing the total of $11.4 billion for the entire year of 2024, marking an increase of over three times [17]. - UBS forecasts that A-share market earnings growth will rise from 6% this year to 8% next year, driven by improved nominal GDP growth and a narrowing of PPI declines [17]. - JPMorgan upgraded its rating on Chinese stocks to "overweight," citing a higher likelihood of significant gains next year compared to potential downside risks [18]. - Morgan Stanley set a target for the CSI 300 Index at 4840 points by December 2026, indicating a stable outlook for Chinese stocks amid moderate earnings growth and higher valuation levels [18].

Core Viewpoint - FTSE Russell announced the quarterly review results for the FTSE China Index Series, effective from December 22, 2025, with changes in constituent stocks for various indices [1] Group 1: FTSE China A50 Index Changes - Two new constituents added: Luoyang Molybdenum (603993) and Sunshine Energy [1] - Two constituents removed: SF Express (002352) and Jiangsu Bank (600919) [1] Group 2: FTSE China 50 Index Changes - Three new constituents added: China Hongqiao, CATL (300750), and Hengrui Medicine (600276) [1] - Three constituents removed: CITIC Securities (601066), Great Wall Motors (601633), and Li Auto [1] Group 3: Future Review Schedule - The next quarterly review for the FTSE China Index will be announced in March [1]

Group 1 - FTSE Russell announced the quarterly review results for the FTSE China Index Series, effective from December 22, 2025 [1] - The FTSE China A50 Index added two constituents: Luoyang Molybdenum and Sunshine Energy, while removing SF Express and Jiangsu Bank [1] - The FTSE China 50 Index added three constituents: China Hongqiao, CATL, and Heng Rui Medicine, while removing CITIC Securities, Great Wall Motors, and Li Auto [1] - The next quarterly review for the FTSE China Index will be announced in March [1]