融券方面，当日融券卖出0.17万股，净买入0.78万股。 来源：金融界 7月31日，沪深两融数据显示，通策医疗获融资买入额1.18亿元，居两市第174位，当日融资偿还额1.15 亿元，净买入240.43万元。 最近三个交易日，29日-31日，通策医疗分别获融资买入1.42亿元、1.35亿元、1.18亿元。 ...

高盛发布研报称，某些医疗健康服务和治疗项目(如高端dental种植体、白内障手术、特定疫苗)，由于 不在国家医保范围内或目前不受药品集中采购影响，能够很好地持续吸纳"银发群体"(50岁及以上)不断 增长的自付医疗支出。高盛重点列出了覆盖范围内最有望从高端自付治疗项目增长中受益的主要股票 ——上调爱尔眼科(300015.SZ)、智飞生物(300122.SZ)至"买入"评级、予普瑞眼科(301239.SZ)、 Straumann(SAUHY.US)"买入"评级、升通策医疗(600763.SH)评级至"中性"。 高盛重点关注"银发群体"，其拥有强劲的"人民币"消费能力(净资产超过300万元人民币)，并给出了独立 的总体可寻址市场(TAM)预估，该市场在2024-2035年期间将从2210亿元人民币(310亿美元)增长至9630 亿元人民币(1350亿美元)，复合年增长率为14.3%，而更广泛的50岁以上人群/整体人群的医疗健康支出 复合年增长率分别为4.7%/5.3%。2024 年，该群体虽仅占50岁以上总人口的3%，却贡献了该群体医疗 健康支出的5%，高盛预计到2035年，这一比例将增长至13%(占50岁以上人口 ...

融券方面，当日融券卖出0.91万股，净卖出0.81万股。 来源：金融界 7月30日，沪深两融数据显示，通策医疗获融资买入额1.35亿元，居两市第141位，当日融资偿还额1.46 亿元，净卖出1066.35万元。 最近三个交易日，28日-30日，通策医疗分别获融资买入1.05亿元、1.42亿元、1.35亿元。 ...

来源：金融界 最近三个交易日，25日-29日，通策医疗分别获融资买入1.65亿元、1.05亿元、1.42亿元。 融券方面，当日融券卖出0.29万股，净卖出0.07万股。 7月29日，沪深两融数据显示，通策医疗获融资买入额1.42亿元，居两市第136位，当日融资偿还额1.64 亿元，净卖出2148.29万元。 ...

通策医疗股份有限公司的主营业务是口腔医疗服务的提供、研发。公司的主要产品是医疗服务、产品销 售、建筑工程、综合服务费。 最新一期业绩显示，2025年一季报，公司实现营业收入7.45亿元，同比5.11%；净利润1.84亿元，同比 6.22%，销售毛利率44.21%。 7月29日，通策医疗今日收盘46.64元，上涨1.50%，滚动市盈率PE（当前股价与前四季度每股收益总和 的比值）达到40.73倍，总市值208.62亿元。 从行业市盈率排名来看，公司所处的医疗服务行业市盈率平均48.95倍，行业中值60.06倍，通策医疗排 名第23位。 股东方面，截至2025年5月28日，通策医疗股东户数83145户，较上次减少1346户，户均持股市值35.28 万元，户均持股数量2.76万股。 序号股票简称PE(TTM)PE(静)市净率总市值(元)7通策医疗40.7341.604.96208.62亿行业平均 48.9562.784.33204.40亿行业中值60.0665.773.2866.76亿1药明康德20.5829.994.732834.59亿2康龙化成 31.2632.564.16583.96亿3爱尔眼科33.2934 ...

金融界7月29日消息，上证指数低开高走，上证养老产业指数 (上证养老，H50043)报7533.04点。 从指数持仓来看，上证养老产业指数十大权重分别为：博瑞医药（4.66%）、科沃斯（3.2%）、新华保 险（2.96%）、恒瑞医药（2.7%）、中国平安（2.64%）、中国太保（2.62%）、南京商旅（2.58%）、 通策医疗（2.55%）、中国中免（2.54%）、石头科技（2.54%）。 从上证养老产业指数持仓的市场板块来看，上海证券交易所占比100.00%。 从上证养老产业指数持仓样本的行业来看，可选消费占比36.84%、医药卫生占比36.08%、主要消费占 比11.40%、金融占比10.76%、通信服务占比4.92%。 资料显示，指数样本每半年调整一次，样本调整实施时间分别为每年6月和12月的第二个星期五的下一 交易日。权重因子随样本定期调整而调整，调整时间与指数样本定期调整实施时间相同。在下一个定期 调整日前，权重因子一般固定不变。特殊情况下将对指数进行临时调整。当样本退市时，将其从指数样 本中剔除。样本公司发生收购、合并、分拆等情形的处理，参照计算与维护细则处理。 数据统计显示，上证养老产业指数近一 ...

Core Insights - The rise of the "silver economy" indicates that the high-net-worth elderly population is expected to become a significant growth engine for the market [1][5]. Group 1: Market Dynamics - Goldman Sachs reports that the medical expenditures of individuals aged 50 and above with net assets exceeding 3 million yuan will be a key driver for the growth of the high-end medical market in China [2]. - This demographic, while only representing 3% of the population over 50, currently contributes 5% of total medical expenditures, which is projected to increase to 13% by 2035 as their population share grows to 5% [3][8]. - The medical spending of this group is expected to rise from 221 billion yuan in 2024 to 963 billion yuan by 2035, reflecting a compound annual growth rate (CAGR) of 14.3%, significantly higher than the overall elderly population growth rate of 5.3% and the all-age growth rate of 4.7% [3][7]. Group 2: Self-Payment Market - As national health insurance budgets tighten, the role of out-of-pocket (OOP) medical expenses is becoming increasingly important, with the self-payment ratio expected to rise from 65% in 2024 to 86% by 2035 [4][9]. - This shift indicates that traditional models reliant on insurance reimbursements are inadequate for meeting the needs of this affluent elderly demographic, which prefers high-quality, elective medical services [9]. Group 3: Health Trends and Opportunities - The report highlights a rising incidence of diseases such as tooth loss, cataracts, and diabetes among the over-50 population, suggesting a growing demand for early screening, preventive care, and high-quality treatment options [10]. - Companies that offer high-end and self-paid medical products are expected to benefit significantly, with revenue growth projected at 13%-21% CAGR, outpacing other business segments [11]. Group 4: Emerging Technologies - The report emphasizes the potential of cutting-edge technologies such as brain-machine interfaces, gene therapies, and rehabilitation robotics to reshape the healthcare industry [4][12]. - The global market for gene medicine is estimated to reach $4.8 trillion, driven by advancements in CRISPR/Cas9 technology and decreasing gene sequencing costs [12]. - Although these technologies are still in early stages, their early applications in healthcare present significant opportunities for growth in the high-end self-pay medical market [13].

Group 1 - The Shanghai Composite Index decreased by 0.33%, while the Shanghai Elderly Industry Index reported at 7521.21 points [1] - The Shanghai Elderly Industry Index has increased by 8.07% in the past month, 11.86% in the past three months, and 12.60% year-to-date [2] - The index consists of 40 listed companies related to the elderly industry, including health management, leisure tourism, and life insurance, reflecting the overall performance of these companies in the Shanghai market [2] Group 2 - The top ten weighted companies in the Shanghai Elderly Industry Index include: BoRui Pharmaceutical (4.55%), Ecovacs (3.05%), New China Life Insurance (2.83%), China Duty Free Group (2.72%), Tongce Medical (2.64%), Ping An Insurance (2.58%), Nanjing Tourism (2.56%), Huatai Medical (2.51%), China Pacific Insurance (2.51%), and Heng Rui Pharmaceutical (2.5%) [2] - The index is fully composed of companies listed on the Shanghai Stock Exchange, with the following industry distribution: Consumer Discretionary (37.07%), Healthcare (36.05%), Consumer Staples (11.55%), Financials (10.39%), and Communication Services (4.94%) [3] - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December [3]

Investment Rating - The report maintains an "Overweight" rating for the pharmaceutical and biotechnology industry, expecting the industry index to outperform the market index by over 10% in the next six months [1][40]. Core Insights - The SW pharmaceutical and biotechnology industry outperformed the CSI 300 index, rising by 7.84% from July 11 to July 24, 2025, exceeding the CSI 300's performance by approximately 4.13 percentage points [4][14]. - Most sub-sectors within the industry recorded positive returns during the same period, with the medical research outsourcing and raw materials sectors leading with increases of 14.23% and 9.30%, respectively [4][15]. - Approximately 91% of stocks in the industry achieved positive returns, with notable performers including Borui Pharmaceutical, which saw a weekly increase of 78.98% [16]. Summary by Sections 1. Market Review - The SW pharmaceutical and biotechnology industry outperformed the CSI 300 index, with a rise of 7.84% from July 11 to July 24, 2025, surpassing the CSI 300 by about 4.13 percentage points [14]. - Most sub-sectors recorded positive returns, particularly medical research outsourcing and raw materials, which increased by 14.23% and 9.30%, respectively [15]. - About 91% of stocks in the industry had positive returns, with Borui Pharmaceutical leading at 78.98% [16]. 2. Industry News - The report highlights the ongoing progress of the 11th batch of national drug procurement, with significant updates provided during a government open day event on July 22, 2025 [4][28]. - The announcement of the 11th batch of national drug procurement included a notification for drug information submission, which was highly anticipated [4][28]. 3. Company Announcements - Yekang Pharmaceutical announced that its subsidiary received FDA approval for clinical trials of YKYY029 injection for hypertension treatment [29]. 4. Industry Outlook - The report maintains an "Overweight" rating for the industry, citing a continuous rise in the pharmaceutical and biotechnology sector driven by positive sentiment towards innovative drugs and improved financing data [30]. - The report suggests focusing on investment opportunities within the innovative drug supply chain and highlights several companies across various segments, including medical devices, pharmaceutical commerce, and innovative drugs [30][32].

Company Overview - Tongce Medical closed at 47.47 yuan, up 10.01%, with a rolling PE ratio of 41.45, marking a new low in 87 days, and a total market capitalization of 21.233 billion yuan [1] - The company's main business is providing oral medical services and research, with key products including medical services, product sales, construction engineering, and comprehensive service fees [1] Financial Performance - For Q1 2025, Tongce Medical reported operating revenue of 745 million yuan, a year-on-year increase of 5.11%, and a net profit of 184 million yuan, up 6.22% year-on-year, with a gross profit margin of 44.21% [1] Industry Comparison - The average PE ratio for the medical services industry is 46.96, with a median of 54.55, placing Tongce Medical at 26th in the industry ranking [2] - The company has 16 institutional holders, all of which are funds, holding a total of 11.4144 million shares valued at 471 million yuan [1]