Group 1 - The Central Committee of the Communist Party of China has issued opinions to strengthen judicial work in the new era, emphasizing severe punishment for financial crimes such as market manipulation, insider trading, illegal fundraising, loan fraud, and money laundering [1] - To maintain ample liquidity in the banking system, the People's Bank of China will conduct a 1.4 trillion yuan reverse repurchase operation using a fixed quantity, interest rate bidding, and multiple price levels starting from July 15, 2025 [1] - The Deputy Governor of the Central Bank, Zou Lan, stated that structural monetary policy tools will focus on supporting technological innovation and boosting consumption, with an improvement in the misalignment of monetary policy cycles between China and the US expected in the second half of the year, leading to a narrowing of interest rate differentials [1] Group 2 - Ganfeng Lithium expects a net loss of 300 million to 550 million yuan for the first half of the year, while Tianqi Lithium anticipates a net profit of 0 to 155 million yuan, marking a turnaround from losses [2] - Xiangyang Bearing is projected to have a net loss of 13 million yuan for the half-year period, and Jingyuntong expects a net loss of 165 million to 225 million yuan [2] - Greenland Holdings anticipates a net loss of 3 billion to 3.5 billion yuan for the first half of the year, while Zhongyan Chemical reports an 88% year-on-year decline in net profit [2] - Tongwei Co. expects a net loss of 4.9 billion to 5.2 billion yuan, and JA Solar anticipates a net loss of 2.5 billion to 3 billion yuan for the first half of the year [2] - Longi Green Energy expects a net loss of 2.4 billion to 2.8 billion yuan, showing a reduction in losses compared to previous periods [2] - Lianhuan Pharmaceutical anticipates a net loss of 38 million to 45 million yuan for the first half of the year [2]

证券代码：600513 证券简称：联环药业 公告编号：2025—044 江苏联环药业股份有限公司 2025 年半年度业绩预告 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。 重要内容提示： 业绩预告的具体适用情形：净利润为负值。 江苏联环药业股份有限公司（以下简称"公司"）财务部门初步测算，预 计公司 2025 年半年度实现归属于上市公司股东的净利润区间为-4,500.00 万元 人民币至-3,800.00 万元人民币，与上年同期相比将减少 10,088.79 万元人民币 到 10,788.79 万元人民币，业绩由盈转亏。 本次业绩预告数据未经审计，仅为初步核算数据，具体准确的财务数据以 公司正式披露的 2025 年半年度报告为准，敬请广大投资者注意投资风险。 （一）业绩预告期间 2025 年 1 月 1 日至 2025 年 6 月 30 日 （二）业绩预告情况 1、经财务部门初步测算，预计公司 2025 年上半年度归属于上市公司股东的 净利润区间为-4,500.00 万元人民币至-3,800.00 万元人民币，与上年同期相比 ...

联环药业（600513）公告，预计2025年半年度归属于上市公司股东的净利润为-4500万元至-3800万元， 与上年同期的6288.79万元相比减少1.01亿元到1.08亿元，业绩由盈转亏。预计2025年半年度归属于上市 公司股东的扣除非经常性损益的净利润为1850万元至2200万元，与上年同期的6107.74万元相比减少 3907.74万元到4257.74万元，同比减少63.98%到69.71%。本次业绩预告数据未经审计，具体准确的财务 数据以公司正式披露的2025年半年度报告为准。 ...

Group 1: Stock Performance - Companies like Shangwei New Materials and Lianhuan Pharmaceutical have shown significant stock performance, with Shangwei New Materials achieving a 20.00% increase over four consecutive trading days [2][9][36] - Other notable performers include Greenfield Machinery and Da Yi Long, both of which have seen increases of approximately 10% over two trading days [5][7] - The stock of YN Energy has also performed well, with a 9.95% increase over six trading days, driven by performance and electricity sector dynamics [13] Group 2: Industry Trends - The A-share market has shown an overall improvement in mid-year performance, with a higher rate of positive earnings compared to the previous year, indicating structural investment opportunities [4] - The electric power sector is experiencing a surge in demand, with the national maximum power load reaching a historical high of 1.465 billion kilowatts, reflecting a year-on-year increase of nearly 150 million kilowatts [12] - The rare earth industry is expected to benefit from recovering exports and seasonal supply increases, leading to improved profitability for companies in this sector [15] Group 3: Innovation and Technology - The launch of the national basic medical insurance and commercial health insurance innovation drug directory is set to stimulate growth in the pharmaceutical sector, with companies like Lianhuan Pharmaceutical and Kangchen Pharmaceutical benefiting from this trend [8][9] - The AI industry in Shanghai has shown remarkable growth, with a 29% increase in scale and a 65% rise in profits in the first quarter, indicating a strong demand for AI-related technologies [31] Group 4: Regulatory Developments - The State Council's food safety committee has introduced measures to enhance food safety risk management, which may positively impact companies in the food safety sector [24] - Recent policies promoting the integration of large-scale charging facilities with power grid planning are expected to benefit companies involved in smart grid technologies [25]

Investment Rating - The report indicates a positive outlook for the pharmaceutical and biotechnology sector, with a focus on innovative drug companies [2][3]. Core Insights - The pharmaceutical and biotechnology sector saw a weekly increase of 1.82%, outperforming the CSI 300 index (0.82%) and the Wind All A index (1.71%). The market is currently focused on the expectations surrounding semi-annual reports and business development (BD) activities [8][9]. - The launch of the 2025 National Basic Medical Insurance and Commercial Health Insurance innovative drug directory is a significant development. This directory will include high-innovation drugs that provide substantial clinical value and patient benefits, which are not covered by basic medical insurance but recommended for commercial health insurance [3][13]. - The report highlights the importance of the commercial health insurance sector in the payment for innovative drugs, suggesting that the accessibility of high-priced innovative drugs is expected to improve, particularly in the areas of cell and gene therapy [3][13]. Market Weekly Review - The medical research outsourcing sector led the gains with a 9.29% increase, primarily driven by WuXi AppTec's positive semi-annual report announcement. Conversely, offline pharmacies and other biological products experienced declines of -1.29% and -1.55%, respectively [8][9]. - Notable stock performances included Frontier Biotech-U (41.4%), Mediso (38.9%), and Lianhuan Pharmaceutical (38.6%) leading the gains, while ST Unimed (-18.5%), Shenzhou Cell-U (-13.4%), and Shutai Shen (-11.6%) faced significant losses [11][12]. Industry News and Key Company Announcements - The report outlines several key industry events, including the approval of innovative drugs and strategic partnerships among major pharmaceutical companies, which are expected to enhance their market positions and product offerings [13][16][17]. - The report also mentions significant financial forecasts from various companies, indicating strong growth potential in the sector, with some companies projecting net profit increases of over 100% year-on-year [17][18].

Market Review - The CITIC Pharmaceutical Index increased by 1.80%, outperforming the CSI 300 Index by 0.98 percentage points, ranking 16th among 30 CITIC first-level industry indices [5] - The top ten stocks by increase this week include Frontier Biologics-U, Medici, Lianhuan Pharmaceutical, Kangchen Pharmaceutical, and others, with Frontier Biologics-U leading at 41.43% [4][5] - The bottom ten stocks by decrease include ST Weiming, Shenzhou Cell, and Shuotai Shen, with ST Weiming dropping by 18.51% [4][5] Overall Viewpoint and Investment Themes - The current valuation of the pharmaceutical sector is at a low point, with public funds (excluding pharmaceutical funds) having low allocation to the sector. The company remains optimistic about the growth of the pharmaceutical industry by 2025, driven by macroeconomic factors and the demand from major categories [9] - In the innovative drug sector, there is a shift from quantity logic to quality logic, focusing on differentiated domestic and international pipelines. The company suggests paying more attention to products and companies that can ultimately realize profits [9] - In the medical device sector, there is a noticeable recovery in bidding volumes for imaging equipment, and the home medical device market is expected to benefit from subsidy policies. The company highlights the potential for import substitution and growth in the orthopedic sector post-collection [9] - The innovation chain (CXO + life sciences services) is expected to see a rebound in overseas investment and a bottoming out in domestic investment, with a potential return to high growth by 2025 [9] - The pharmaceutical industry is anticipated to enter a new growth cycle, with a focus on specialty raw materials and the expiration of patents leading to new growth opportunities [9] Industry and Company Events - The company highlights the innovative layout of traditional Chinese medicine enterprises, with several products in clinical II and III phases, including those targeting chronic insomnia and primary acute gouty arthritis [29][30] - Yunnan Baiyao has several drugs in various clinical stages, including those for prostate cancer and other conditions, indicating a robust pipeline [16][19] - The company emphasizes the importance of the blood products sector, which is expected to see significant growth due to relaxed approval processes and increased production capacity [14] - The innovative drug pipeline of Yiling Pharmaceutical focuses on cardiovascular, respiratory, and endocrine diseases, with multiple drugs in clinical trials [20][21]

Market Overview - The market sentiment has improved, with all three major indices rising. The Shanghai Composite Index increased by 1.09%, stabilizing above 3500 points, while the Shenzhen Component Index rose by 1.78% and the ChiNext Index by 2.36% [1] Industry Performance - Among the 31 primary industries, 27 experienced gains, with real estate, steel, and non-bank financials leading the way. Concept sectors such as rare earths, real estate developers, innovative drugs, photovoltaic glass, brokerages, and stablecoins saw significant surges [1] Institutional Research Activities - A total of 160 listed companies disclosed institutional research minutes, with around 100 stocks achieving positive returns. Notably, Lianhuan Pharmaceutical's stock surged by 38.58% during the week, and several other companies also saw gains exceeding 10% [1] Company Highlights - Lianhuan Pharmaceutical has conducted four institutional research activities in July, with a cumulative increase of 49% in stock price. The company is collaborating on the development of an SGLT2 inhibitor for diabetes treatment, expecting key data in Q1 2024 and plans to submit for market approval in 2026 [1][2] - Wantai Biological Pharmacy recently hosted 19 institutional research sessions and announced the pricing of its domestically produced nine-valent HPV vaccine at 499 yuan per dose. The company aims to enhance market penetration through a differentiated sales strategy [2] - Zhongyi Technology, while not currently involved in stablecoin business, confirmed its participation in IT infrastructure for digital currency systems, ensuring stability and security [2] - Zhenghai Magnetic Materials responded to export control measures by actively pursuing export declarations and maintaining normal production operations. The company anticipates growth in demand for neodymium-iron-boron in emerging sectors like energy-saving and new energy vehicles [3] Financial Sector Insights - Several banks, including Ningbo Bank and Suzhou Bank, received institutional attention. Suzhou Bank reported a narrower net interest margin decline compared to the industry average and plans to enhance margin management throughout the year [3]

Core Viewpoint - Lianhuan Pharmaceutical (600513) has experienced significant stock price increases, with four trading halts in five days, prompting the company to clarify that there are no undisclosed major events affecting its operations or financials [1][2]. Financial Performance - For Q1 2025, the company reported revenue of 628 million yuan, an increase of 18.78% year-on-year, while net profit attributable to shareholders was 23.06 million yuan, a decrease of 29.15% year-on-year [1]. Investment Activities - The company approved an investment of 183 million yuan to acquire 49% of Changle Pharmaceutical, which had an audited revenue and net profit ratio of 17.75% and 24.44% respectively for 2023 [1]. - On May 28, 2025, the company approved its wholly-owned subsidiary to invest 70.38 million yuan to acquire 51% of Sichuan Longyi Pharmaceutical, although the transaction agreement has not yet become effective [2]. Strategic Goals - The acquisition of Changle Pharmaceutical aims for strategic synergy, optimization of layout, production line complementarity, and cost advantages to enhance overall competitiveness [2]. - The acquisition of Longyi Pharmaceutical is intended to expand the CSO business and improve the pharmaceutical distribution sector, leveraging its market foundation and sales network in the Sichuan-Chongqing region [2]. Operational Updates - The company emphasized the importance of integrating research and development, resource allocation, and sales networks post-acquisition to improve efficiency and reduce costs [2]. - On June 10, the company received an administrative penalty of 61.04 million yuan from the Tianjin Market Supervision Administration for violating the Anti-Monopoly Law, which represents over 72% of the previous year's net profit [2].

1、江苏联环药业股份有限公司（以下简称"公司"）股票于 2025 年 7 月 10 日、7 月 11 日连续两个交易日内收盘价格涨幅偏离值累计超过 20%，根据《上 海证券交易所交易规则》的有关规定，属于股票交易异常波动。 2、经公司自查并书面征询公司控股股东和实际控制人，截至本公告披露日， 控股股东及实际控制人不存在应披露而未披露的重大信息，包括但不限于重大资 产重组、股份发行、重大交易类事项、业务重组、股份回购、破产重整、重大业 务合作、引进战略投资者等重大事项。 一、股票交易异常波动的具体情况 公司股票于 2025 年 7 月 10 日、7 月 11 日连续两个交易日内收盘价格涨幅 偏离值累计超过 20%，根据《上海证券交易所交易规则》的有关规定，属于股票 交易异常波动。 二、公司关注并核实的相关情况 证券代码：600513 证券简称：联环药业 公告编号：2025—043 江苏联环药业股份有限公司 股票交易异常波动公告 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。 重要内容提示： （三）媒体报道、市场传闻、热点概念情况 ...

江苏联环药业股份有限公司: 《江苏联环药业股份有限公司关于公司股票交易异常 波动的询证函》收悉,经自查确认,现回复如下:一一 我公司作为江苏联环药业股份有限公司（以下简称"联 环药业")的控股股东,截至目前,除联环药业在指定媒体 已披露信息之外,我公司不存在影响联环药业股票价格异常 波动的重大事项;不存在应披露而未披露的重大信息,包括 但不限于重大资产重组、股份发行、上市公司收购、债务重 组、业务重组、资产剥离、资产注入、股份回购、股权激励、 引进战略投资者等重大事项。 江苏联环药业集团有限公司 关于江苏联环药业股份有限公司股票交易 异常波动询证函的回复 我公司在本次股票异常波动期间未买卖联环药业股票。 我公司亦将严格遵守《上海证券交易所交易规则》等相 关规定,依法履行信息披露义务。 特此回函。 江苏联网药业 限公司 t 2035年7 月~1 同时,经与扬州市国有资产监督管理委员会(以下简称 "扬州市国资委"）确认,截至目前,扬州市国资委作为联 环药业的实际控制人,除联环药业在指定媒体已披露信息之 外,扬州市国资委不存在影响联环药业股票价格异常波动的 重大事项:不存在应披露而未披露的重大信息,包括但不限 于重 ...