医疗板块突围进行时！7月23日早盘，CXO概念强势反弹，昭衍新药劲涨超8%，康龙化成涨超6%，凯 莱英、九洲药业、泰格医药、药明康德等均大幅跟涨。 A股最大医疗ETF（512170）盘中上探2%，盘中价再刷近4个月新高！场内交投活跃，开盘30分钟成交 额突破4亿元。 | 一度 | 证券代码 | 证券酒称 | 预告净利润下限 | 预告净利润上限 | 预告净利润同比增长下限 | 预告净利润同比增长上限 | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 【报告剧 今年中报 | [提古期] 今年中报 | 【报告期 今年中版 | 【报告则】今年中报 | | | | | | [单位] 亿元 | [单位] 亿元 | [单位] 米 | [中位] %↓ | | | | 6031275H | 脂肪新药 | 0.5032 | 0.7549 | 129,6474 | | 144,4712 | | 2 | 688351 SH | 影曲 | 0.3000 | 0.3500 | 76,3400 | | 105,7300 | | 3 | 6032595H | 药明康德 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 文/新浪财经上海站 陈秀颖 2025年上半年，中国创新药行业在政策红利与国际化突破的双重助力下迎来高光时刻。 中报预增：公司预计2025年半年度实现归属于上市公司股东的净利润约为2.17亿元，与上年同期相比将 实现扭亏为盈。 Wind数据显示，A股创新药板块80家企业中，16家已发布中报预告，其中通化东宝、昭衍新药、博腾股 份共计3家均预计将实现归属于上市公司股东的净利润扭亏为盈。 通化东宝 本期业绩预盈的主要原因： 胰岛素类似物产品销量显著增长，带动国内销售收入大幅上升。 国际化战略成效显著，出口收入明显增长。 昭衍新药 中报预增：公司预计2025年半年度归属于上市公司股东的净利润为5032.43万至7548.65万元，同比实现 扭亏为盈（上年同期亏损1.69亿元）。 业绩变动原因说明： 营业收入下降因同业竞争导致订单利润压缩，实验室业务亏损加剧。 生物资产公允价值变动收益抵消部分业务亏损，推动整体扭亏。 博腾股份 中报预增：公司预计2025年半年度归属于上市公司股东的净利润为：盈利0~3000万元（上年同期亏损 1.7亿元）。 | ...

Investment Rating - The report initiates coverage with a "Strong Buy" investment rating for the company [1]. Core Insights - The company, Zhaoyan New Drug, is positioned as a leader in the domestic CRO industry, particularly in safety evaluation, with comprehensive GLP qualifications and strategic resources in experimental monkeys. The company is expected to benefit from rising prices of experimental monkeys due to supply constraints and strong demand [1][8]. - The report highlights the mismatch between supply and demand for experimental monkeys, which is driving a price recovery trend. The aging population of breeding monkeys and the long breeding cycle are significant factors affecting supply [2][8]. - The company is expanding its offshore outsourcing business, which is anticipated to create a new growth engine, alongside the recovery of domestic demand [8][42]. Financial Data and Valuation - The projected financial performance shows total revenue decreasing from 2,377 million in 2023 to 1,977 million in 2025E, with a subsequent recovery to 2,468 million by 2027E. The net profit is expected to rebound significantly from 74 million in 2024 to 352 million in 2025E [3][4]. - The company’s PE ratio is projected to be 39.8 in 2025E, decreasing to 24.4 by 2027E, indicating an improving valuation as earnings recover [3][4]. Supply and Demand Dynamics - The supply of experimental monkeys is constrained due to an aging population and a long breeding cycle, with over 80% of breeding females being over 8 years old as of 2023. This has led to a significant decline in breeding rates [8][19]. - Demand for experimental monkeys is expected to improve, particularly for biopharmaceutical research, as over 70% of large molecule drugs require monkeys for preclinical trials [26][28]. Strategic Initiatives - The company has made strategic acquisitions, including monkey breeding facilities, to enhance its supply chain and reduce costs, thereby increasing profitability [8][60]. - The offshore outsourcing strategy is showing positive results, with higher gross margins from overseas orders, which is expected to enhance overall profitability [52][54]. Management and Governance - The management team has extensive experience in drug safety evaluation and a solid governance structure, with key figures holding significant shares in the company [36][40].

港股创新药概念股盘初调整，百济神州跌超5%，歌礼制药、山东新华制药（000756）股份、昭衍新药 （603127）跌超4%，君实生物、诺诚健华等股跌超3%。 ...

Group 1 - The CRO concept index rose by 2.61%, ranking 10th among concept sectors, with 55 stocks increasing in value, including Chengdu Xian Dao which hit a 20% limit up [1] - Leading gainers in the CRO sector included MediWest, Haitai Biological, and Boji Pharmaceutical, with increases of 19.00%, 11.93%, and 9.50% respectively [1] - The sector saw a net inflow of 447 million yuan from main funds, with 30 stocks receiving net inflows, and 8 stocks exceeding 50 million yuan in net inflow [2] Group 2 - Major contributors to net inflow included WuXi AppTec with 203 million yuan, followed by Zhaoyan New Drug, Chengdu Xian Dao, and MediWest with net inflows of 130 million yuan, 126 million yuan, and 107 million yuan respectively [2] - The net inflow ratios for Zhaoyan New Drug, Chengdu Xian Dao, and MediWest were 13.04%, 12.33%, and 11.88% respectively [3] - The trading volume for WuXi AppTec was 20.33 million yuan with a turnover rate of 1.67% [3] Group 3 - The stock Boji Pharmaceutical had a significant increase of 9.50% with a trading volume of 21.40 million yuan [6] - The stock ST Unnamed experienced the largest decline of 5.01% with a trading volume of 96.79 million yuan [6] - The overall performance of the CRO sector indicates strong investor interest and potential growth opportunities within the industry [2][3]

Group 1 - The A-share CRO (Contract Research Organization) sector experienced a significant rally in the afternoon, with notable stocks such as Chengdu Xian Dao hitting the daily limit up [1] - MediXy and Hite Bio both surged over 14%, indicating strong investor interest and market momentum [1] - Other companies in the sector, including Zhaoyan New Drug, Yinuosi, Sunshine Nuohe, Kanglong Huacheng, and Puris, also saw positive gains, reflecting a broader trend in the CRO market [1]

据了解，中证1000指数行业指数系列从每个行业内选取流动性和市场代表性较好的证券作为指数样本， 形成10条中证1000行业指数，为投资者提供更多样化的投资标的。该指数以2004年12月31日为基日，以 1000.0点为基点。 从指数持仓来看，中证1000医药卫生指数十大权重分别为：泽璟制药（3.14%）、通化金马 （3.02%）、博瑞医药（2.67%）、佐力药业（1.69%）、荣昌生物（1.59%）、昭衍新药（1.47%）、一 品红（1.44%）、安科生物（1.42%）、众生药业（1.42%）、亿帆医药（1.38%）。 金融界7月16日消息，上证指数低开震荡，中证1000医药卫生指数 (1000医药，H30444)报12486.30点。 从中证1000医药卫生指数持仓样本的行业来看，化学药占比35.86%、医疗器械占比19.60%、中药占比 17.00%、生物药品占比14.32%、医疗商业与服务占比7.53%、制药与生物科技服务占比5.69%。 数据统计显示，中证1000医药卫生指数近一个月上涨4.34%，近三个月上涨12.39%，年至今上涨 16.26%。 资料显示，指数样本每半年调整一次，样本调整实施时间 ...

证券代码：603127 证券简称：昭衍新药 公告编号：2025-027 北京昭衍新药研究中心股份有限公司 2025年半年度业绩预告 本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个别及连带责任。 重要内容提示： 本期业绩预告适用情形：净利润实现扭亏为盈。 1. 预计2025年1-6月份实现营业收入约人民币63,514.65万元到人民币70,200.40万元，与上年同期的数据 相比，将减少约人民币14,735.25万元到人民币21,421.00万元，同比下降约17.3%到 25.2%。 2. 预计2025年1-6月份实现归属于上市公司股东的净利润约人民币5,032.43万元到人民币7,548.65万元， 与上年同期的数据相比，将实现扭亏为盈。 3. 预计2025年1-6月份实现归属于上市公司股东的扣除非经常性损益的净利润约人民币1,883.19万元到人 民币2,824.79万元。 一、本期业绩预告情况 3.3 资金管理收益贡献净利润约人民币2,598.52万元到人民币3,897.77万元。 （一）业绩预告期间 2025年1月1日至2025 ...

证券代码：603127 证券简称：昭衍新药 公告编号：2025-027 北京昭衍新药研究中心股份有限公司 （二）业绩预告情况 2025 年半年度业绩预告 本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个别及连带责任。 重要内容提示： 本期业绩预告适用情形：净利润实现扭亏为盈。 1. 预计 2025 年 1-6 月份实现营业收入约人民币 63,514.65 万元到人民币 70,200.40 万元，与上年同期的数据相比，将减少约人民币 14,735.25 万元到人民 币 21,421.00 万元，同比下降约 17.3%到 25.2%。 2. 预计 2025 年 1-6 月份实现归属于上市公司股东的净利润约人民币 5,032.43 万元到人民币 7,548.65 万元，与上年同期的数据相比，将实现扭亏为盈。 3. 预计 2025 年 1-6 月份实现归属于上市公司股东的扣除非经常性损益的净 利润约人民币 1,883.19 万元到人民币 2,824.79 万元。 一、本期业绩预告情况 （一）业绩预告期间 2025 年 1 月 1 日至 2025 ...

Summary of Conference Call Records Industry Overview - The global pharmaceutical industry is facing a significant patent cliff, with approximately $180 billion in annual revenue drugs set to lose patent protection between 2027 and 2028, representing nearly 12% of the global market share [3][4][10] - The domestic innovation industry chain is experiencing an increase in orders, particularly among upstream companies such as Baipusais, Bidai Pharmaceutical, and Bai'ao Pharmaceutical [1][5] - The CRO (Contract Research Organization) sector is seeing growth in companies like Zhaoyan New Drug, Yinuosi, and Tigermed, while the CDMO (Contract Development and Manufacturing Organization) sector is highlighted by strong performances from WuXi AppTec, Boteng Co., Tianyu Co., and Pro Pharma [1][5] Key Insights and Arguments - The recovery in the CXO (Contract Research Organization and Contract Development and Manufacturing Organization) sector is driven by increased domestic demand and a resurgence in orders, which is expected to translate into clinical research opportunities within 6 to 12 months [11][12] - The trend of innovation drug out-licensing (BD) is becoming more pronounced, as large pharmaceutical companies seek to diversify their pipelines and manage costs amid pressures from legislation such as the IRA (Inflation Reduction Act) [4][7] - Domestic listed companies have shown an increasing trend in R&D expenses as a percentage of revenue since the second half of last year, indicating a more proactive approach to R&D investment in response to market changes [8][10] Financial Performance and Trends - In the CDMO sector, WuXi AppTec reported a 47% year-on-year increase in orders by the end of last year, while Boteng Co. saw a 30% increase [11][13] - For the first half of 2025, WuXi AppTec's revenue is expected to grow by 21%, with a 44% increase in NON-IFRS net profit, while Boteng Co. is projected to achieve profitability after a turnaround [13] - The structure of R&D expenses in Biotech companies has shifted, with a notable increase in clinical trial costs, reflecting a conservative investment strategy amid market uncertainties [9] Potential Investment Opportunities - Recommended companies in the domestic innovation industry include Yinuosi, Zhaoyan New Drug, and Tigermed, as well as leading CDMO firms like WuXi AppTec and Pro Pharma [16] - The recovery in the domestic innovation industry is expected to create further investment opportunities, particularly as IPOs are being opened up and more companies are preparing to list [14] Additional Considerations - The overall recovery of the innovation industry chain is segmented into phases, with the current transition from phase 1.0 to 2.0 indicating a shift towards increased early-stage project investments by financially robust companies [10] - The competitive landscape of the domestic innovation industry chain should be assessed comprehensively, including comparisons with Indian and other overseas companies to better understand competitive advantages [17]