Group 1 - The cell immunotherapy concept index rose by 1.25%, ranking 6th among concept sectors, with 29 stocks increasing in value [1][2] - Notable gainers included Ruizhi Pharmaceutical with a 20% limit up, Hainan Haiyao at limit up, and Shutaishen, Guanhao Biological, and Fosun Pharma with increases of 15.02%, 8.88%, and 5.23% respectively [1][6] - The sector experienced a net outflow of 266 million yuan, with 20 stocks seeing net inflows, and 8 stocks receiving over 10 million yuan in net inflows, led by Hainan Haiyao with a net inflow of 144 million yuan [2][3] Group 2 - Hainan Haiyao, Anke Bio, and Dongcheng Pharmaceutical had the highest net inflow ratios at 35.56%, 5.52%, and 5.27% respectively [3][4] - The top stocks by net inflow included Hainan Haiyao, Fosun Pharma, Ruizhi Pharmaceutical, and Zhaoyan New Drug, with net inflows of 144 million yuan, 54.52 million yuan, 34.78 million yuan, and 31.86 million yuan respectively [2][3] - Stocks with significant declines included Xue Rong Biological, Saifutian, and Jinchang Protein, with decreases of 4.23%, 2.74%, and 2.61% respectively [1][5]

Company Overview - Beijing Zhaoyan New Drug Research Center Co., Ltd. (stock code: 603127.SH/6127.HK) is a specialized drug research and development service outsourcing company (CRO) established in 1995, headquartered in Beijing [4] - The company has subsidiaries in multiple locations including Suzhou, Chongqing, Guangzhou, Wuxi, Wuzhou, Nanning, Yunnan, Shanghai, California, and Boston, and has established a quality management system compliant with international standards [4] - Zhaoyan New Drug provides a one-stop service for non-clinical pharmacology and toxicology research, clinical trials, and drug safety monitoring, as well as evaluations for veterinary drugs, pesticides, and medical devices [4] Financial Performance - As of March 31, 2025, Zhaoyan New Drug reported total operating revenue of 287 million yuan, a year-on-year decrease of 11.54%, while net profit attributable to shareholders was 41.12 million yuan, a year-on-year increase of 115.11% [2] - The company's gross profit margin stands at 28.61%, and its asset-liability ratio is 13.96% [2] Stock Performance - Over the past month, Zhaoyan New Drug has seen a cumulative increase of 30.66%, and a year-to-date increase of 35.83%, outperforming the Hang Seng Index by 17.51% [2] - The stock closed at 14.18 HKD per share on May 30, with a trading volume of 36.01 million shares and a turnover of 507 million HKD, reflecting a volatility of 22.52% [1] Industry Valuation - The average price-to-earnings (P/E) ratio for the pharmaceutical and biotechnology industry is 5.64 times, with a median of 5.97 times, while Zhaoyan New Drug's P/E ratio is 22.4 times, ranking 52nd in the industry [3] - Comparatively, other companies in the industry have significantly lower P/E ratios, such as Qingdao Haier Biomedical (0.68 times) and King’s Ray Biotechnology (1.22 times) [3] Upcoming Events - The company plans to distribute a dividend of 0.03 RMB per share (approximately 0.032512 HKD) for the fiscal year ending in 2024, with the ex-dividend date set for June 26, 2025, and the payment date on August 31, 2025 [5]

Market Overview - The Shanghai Composite Index closed at 3364.94 points, above the annual line, with a gain of 0.75% [1] - The total trading volume of A-shares reached 967.73 billion yuan [1] Stocks Breaking Annual Line - A total of 207 A-shares have surpassed the annual line today [1] - Notable stocks with significant deviation rates include: - Tian Sheng New Materials (18.00%) - Guang Li Wei (14.33%) - Wan Ma Technology (12.38%) [1] Stock Performance Data - The following stocks showed notable performance: - Tian Sheng New Materials: +20.06% with a turnover rate of 32.15% [1] - Guang Li Wei: +20.01% with a turnover rate of 16.24% [1] - Wan Ma Technology: +19.99% with a turnover rate of 18.57% [1] - Other stocks with lower deviation rates include: - Xin Bao Co., Tianjin Port, and Ju Fei Optoelectronics, which just crossed the annual line [1]

Group 1 - The National Vaccine and Biotechnology Index (980015) has seen a strong increase of 2.39% as of May 29, 2025, with notable gains in constituent stocks such as Zhaoyan New Drug (603127) up 9.99%, Yifan Pharmaceutical (002019) up 9.17%, and Dizhe Pharmaceutical (688192) up 8.73% [1] - The Biovaccine ETF (159657) rose by 2.28%, with the latest price reported at 0.63 yuan [2] - The 2025 American Society of Clinical Oncology (ASCO) Annual Meeting will take place from May 30 to June 3, 2025, in Chicago, showcasing the development of oncology research in China, with over 70 studies from Chinese scholars selected for presentation [2] Group 2 - The top ten weighted stocks in the National Vaccine and Biotechnology Index (980015) as of April 30, 2025, include Fosun Pharma (600196), Changchun High-tech (000661), and others, collectively accounting for 63.18% of the index [3] - The Biovaccine ETF closely tracks the National Vaccine and Biotechnology Index, which consists of 50 companies involved in the biotechnology industry, reflecting the overall performance of quality listed companies in the sector [2]

A股CRO概念股午后走强，昭衍新药涨停，睿智医药、联化科技此前封板，美迪西涨超10%，凯莱英、 康龙化成、诺思格、药明康德等跟涨。 ...

Group 1 - The core viewpoint is that the pharmaceutical industry is expected to experience stable growth driven by innovation, policy optimization, and increasing clinical demand due to aging demographics [3] - The National Biopharmaceutical Index (399441) has shown a strong increase of 1.83%, with key stocks like Kylin Pharmaceutical (002821) rising by 5.51% and Zhaoyan New Drug (603127) by 4.66% [1] - The Biopharmaceutical ETF (159839) has seen a cumulative increase of 1.54% over the past two weeks, indicating positive market sentiment [1] Group 2 - Open Source Securities emphasizes that the pharmaceutical sector will benefit from improved drug procurement policies and a favorable external environment, leading to a recovery in the healthcare industry [3] - Citic Securities notes that the pharmaceutical sector achieved its best market returns in the first half of 2025, driven by policy trends and the maturation of pharmaceutical innovation [3] - The current PEG levels for most growth-oriented pharmaceutical companies are below 1, suggesting potential for performance and valuation recovery [3]

Core Insights - The CRO (Contract Research Organization) and CDMO (Contract Development and Manufacturing Organization) sectors are crucial in advancing innovative drugs from laboratory to clinical application and large-scale production, with Chinese companies gaining significant market share due to enhanced technical capabilities and cost advantages [1][2]. Group 1: Strategic Opportunities in CXO - The CXO sector in China has experienced rapid growth over the past decade, evolving through four development stages, with a significant acceleration post-2015 due to increased demand for innovative drug development and the transfer of overseas industrial chains [2][3]. - The COVID-19 pandemic in 2020 catalyzed the upgrade of China's CXO industry, leading to a surge in participation in the global innovative drug supply chain [3]. Group 2: Growing Demand for Outsourcing in the Pharmaceutical Industry - The number of new drug registration clinical trials in China has been increasing annually, with a compound annual growth rate (CAGR) of 15% from 2019 to 2024, rising from 2,385 trials in 2019 to 4,884 in 2024 [4]. - The number of first-class new drugs listed in China has grown from 18 in 2020 to 49 in 2024, reflecting a CAGR of 28.4%, indicating a sustained upward trend in innovation capabilities [6]. Group 3: MAH System and Business Opportunities - The implementation of the MAH (Marketing Authorization Holder) system has separated drug production and marketing licenses, significantly boosting the CDMO market, with the number of B certificate enterprises increasing from 140 in 2021 to 1,349 by the end of 2024, a growth rate of 23% [10]. Group 4: Market Growth Rates - China's CRO market is projected to grow at a CAGR of 20.4%, increasing from 388 billion RMB in 2018 to 1,183 billion RMB in 2024, with expectations to reach 1,923 billion RMB by 2027 [12][14]. - The CDMO market in China is expected to grow at a CAGR of 37.8%, from 132 billion RMB in 2017 to 1,246 billion RMB in 2024, with projections to reach 3,559 billion RMB by 2030 [16][18]. Group 5: Rankings of CRO and CDMO Companies - The 2024 rankings of Chinese CRO companies include top-tier firms such as WuXi Biologics, Kanglong Chemical, and Tigermed, while the second tier features companies like Yino Science and Kingsray Biotech [22]. - The leading CDMO companies in 2024 include WuXi AppTec, Kelun Pharmaceutical, and WuXi Biologics, with a second tier comprising companies like Notch Biotech and Haier Pharmaceutical [24]. Group 6: Conclusion - Chinese CRO and CDMO companies have established comprehensive service capabilities across the pharmaceutical industry chain, transitioning from "Chinese service providers" to "global innovation partners," with a focus on technological innovation and compliance [26][27].

JOINN Laboratories (China) Co., Ltd. 北京昭衍新藥研究中心股份有限公司 Should you have any queries relating to this notification, please call the H Share Registrar's telephone hotline at (852) 2980 1333 during business hours from 9:00 a.m. to 6:00 p.m., Monday to Friday (excluding public holidays). (A joint stock company incorporated in the People's Republic of China with limited liability) （於中華人民共和國註冊成立的股份有限公司） （Stock Code 股份代號：6127） NOTIFICATION LETTER 通知信函 Dear Non-Registered Shareholders, JOINN Laboratories (China) Co., ...

（Stock Code 股份代號：6127） NOTIFICATION LETTER 通知信函 JOINN Laboratories (China) Co., Ltd. 北京昭衍新藥研究中心股份有限公司 (A joint stock company incorporated in the People's Republic of China with limited liability) （於中華人民共和國註冊成立的股份有限公司） Should you have any queries relating to this notification, please call the H Share Registrar's telephone hotline at (852) 2980 1333 from 9:00 a.m. to 6:00 p.m., Monday to Friday (excluding public holidays). By the order of the Board JOINN Laboratories (China) Co., Ltd. Feng Yuxia Chairperson N ...

JOINN LABORATORIES (CHINA) CO., LTD. 北京昭衍新藥研究中心股份有限公司 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 北京昭衍新藥研究中心股份有限公司 馮宇霞 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：6127） 海外監管公告 本公告乃北京昭衍新藥研究中心股份有限公司（「本公司」）根據香港聯合交易 所有限公司證券上市規則第13.10B條 而 作 出。 茲 載 列 本 公 司 於 上 海 證 券 交 易 所 網 站 刊 登 公 告 如 下，僅 供 參 閱。 承董事會命 公司按照规定回购注销2021年A股限制性股票411,365股，回购价格为42.37 元/股。 公司于2025年1月23日召开的2025年第一次临时股东大会审议通过了《关于 公司变更注册资本的议案》，根据决议，上述回购注销完成后，公司总股本将 ...