Group 1 - The stock price of Zhendemedical (603301) closed at 67.93 yuan on October 17, 2025, with an increase of 0.59% and a turnover rate of 5.59% [1] - On October 17, 2025, the net inflow of main funds was 94.27 million yuan, accounting for 9.43% of the total transaction amount [1][3] - The company announced the release of a total of 13,322,560 shares from pledge by its controlling shareholder and its concerted parties [1][3] Group 2 - Zhendemedical's controlling shareholder, Zhejiang Zhendemedical Holdings Co., Ltd., and its wholly-owned subsidiary, Xuchang Zhendemedical Landscaping Engineering Co., Ltd., completed the transfer of 13,322,560 shares to Sun Jimu at a price of 26.74 yuan per share, totaling 356,245,254.40 yuan [2] - After the transfer, Sun Jimu holds 5.00% of the company's shares, and Zhejiang Zhendemedical's shareholding ratio decreased from 49.82% to 49.24% [2] - The transfer does not trigger a mandatory bid and does not constitute a related party transaction, nor does it lead to a change in the company's controlling shareholder and actual controller [2]

Core Viewpoint - The announcement details the partial release of share pledges by the controlling shareholder of Zhend Medical Supplies Co., Ltd., Zhejiang Zhend Holdings Co., Ltd., and its wholly-owned subsidiary, Xuchang Zhend Landscaping Engineering Co., Ltd., involving a total of 13,322,560 shares [2][3][4]. Group 1: Share Pledge Release Details - Before the release of the pledges, Zhejiang Zhend held 132,739,480 shares, accounting for 49.82% of the total share capital, while Xuchang Landscaping held 11,773,940 shares, accounting for 4.42% [2]. - The shares released from pledge include 1,548,620 shares from Zhejiang Zhend and 11,773,940 shares from Xuchang Landscaping, totaling 13,322,560 shares [2][4]. - As of the announcement date, Zhejiang Zhend had a cumulative pledge of 21,999,260 shares, representing 16.77% of its total holdings and 8.26% of the company's total share capital [3][4]. Group 2: Share Transfer Agreement - On September 10, 2025, Zhejiang Zhend and Xuchang Landscaping signed a share transfer agreement with Sun Jimu and the Industrial and Commercial Bank of China Shaoxing Branch, involving the transfer of 13,322,560 unrestricted circulating shares at a price of RMB 26.74 per share, totaling RMB 356,245,254.40 [8][11]. - The share transfer was confirmed by the Shanghai Stock Exchange and completed on October 16, 2025, with the shares being transferred to Sun Jimu [8][12]. - Following the transfer, Sun Jimu holds 13,322,560 shares, representing 5.00% of the total share capital, and has committed not to reduce his holdings within 12 months [9][12].

证券代码：603301 证券简称：振德医疗 公告编号：2025-037 振德医疗用品股份有限公司 关于控股股东及一致行动人协议转让股份过户完成 的公告 本公司董事会、全体董事及相关股东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： 振德医疗用品股份有限公司（以下简称"公司"）控股股东浙 江振德控股有限公司（以下简称"浙江振德"）及其全资子公司许昌 振德园林绿化工程有限公司（以下简称"许昌园林"）于 2025 年 9 月 10 日与孙纪木（以下简称"受让方"）、中国工商银行股份有限公司 绍兴分行（以下简称"工行绍兴分行"、"质权人"）签署了《关于振 德医疗用品股份有限公司股份转让协议》（以下简称"《股份转让协 议》"），浙江振德、许昌园林拟将其持有的合计 13,322,560 股无限售 条件流通股（占公司总股本 5.00%）通过协议转让的方式以人民币 26.74 元/股的价格转让给孙纪木（其中浙江振德拟转让 1,548,620 股，占公司总股本的 0.58%；许昌园林拟转让 11,773,940 股，占公 司总股本的 4.42%），转 ...

振德医疗用品股份有限公司 关于控股股东及其一致行动人 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法律责任。 部分股份解除质押的公告 证券代码：603301 证券简称：振德医疗 公告编号：2025-036 重要内容提示： 本次解除质押前，振德医疗用品股份有限公司（以下简称"公 司、本公司"）的控股股东浙江振德控股有限公司（以下简称"浙江 振德"）持有本公司股份 132,739,480 股，占本公司总股本 49.82%； 浙江振德的全资子公司许昌振德园林绿化工程有限公司（以下简称 "许昌园林"）持有本公司股份 11,773,940 股，占本公司总股本 4.42%。 浙江振德本次解除质押股份 1,548,620 股，许昌园林本次解除质押股 份 11,773,940 股，合计解除质押 13,322,560 股。 截至本公告披露日，浙江振德累计质押公司股份 21,999,260 股，占其持股总数的 16.77%，占公司总股本 8.26%；许昌园林累计质 押公司股份数量为 0 股，占公司总股本 0%。 本次解除质押前，本公司控股股东浙江振德及其 ...

Core Insights - Zhendermedical's stock increased by 6.25% to 68.90 CNY per share, with a trading volume of 297 million CNY and a turnover rate of 1.68%, resulting in a total market capitalization of 18.358 billion CNY [1] Company Overview - Zhendermedical, established on August 18, 1994, and listed on April 12, 2018, is located in Shaoxing City, Zhejiang Province. The company specializes in the production, research, and sales of medical dressings [1] - The main revenue composition includes: - Surgical infection control: 43.04% - Basic care: 20.46% - Stoma and modern wound care: 18.59% - Pressure treatment and fixation: 10.75% - Infection control protection: 6.58% - Others: 0.58% [1] Shareholder Insights - Zhendermedical's top circulating shareholder is a fund under China Merchants Fund, specifically the China Merchants Core Competitiveness Mixed A (014412), which increased its holdings by 581,000 shares to a total of 3.4286 million shares, representing 1.29% of circulating shares. The estimated floating profit today is approximately 13.886 million CNY [2] - The fund was established on April 13, 2022, with a latest scale of 2.993 billion CNY. Year-to-date returns are 20.14%, ranking 4429 out of 8161 in its category, while the one-year return is 23.01%, ranking 4129 out of 8021. Since inception, the return is 56.25% [2] Fund Manager Profile - The fund manager for China Merchants Core Competitiveness Mixed A (014412) is Zhu Hongyu, who has a cumulative tenure of 14 years and 154 days. The total asset scale of the fund is 4.964 billion CNY, with the best fund return during his tenure being 54.07% and the worst being -12.86% [3] Fund Holdings - Another fund under China Merchants Fund, the China Merchants Social Responsibility Mixed A (018309), holds 1.367 million shares of Zhendermedical, accounting for 2.96% of the fund's net value, ranking as the tenth largest holding. The estimated floating profit today is approximately 5.5364 million CNY [4] - This fund was established on April 26, 2023, with a latest scale of 974 million CNY. Year-to-date returns are 27.67%, ranking 3282 out of 8161, while the one-year return is 29.91%, ranking 3182 out of 8021. Since inception, the return is 8.49% [4]

Market Overview - The market experienced a significant decline, with the Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index falling by 0.62%, 2.54%, and 3.99% respectively, resulting in over 3,550 stocks declining and more than 1,700 stocks rising [1][3]. - The trading volume exceeded 2.5 trillion yuan, indicating high market activity despite the downturn [1]. Sector Performance - The photovoltaic sector saw a strong opening with stocks like Yao Pi Glass, Yijing Photovoltaic, and Longi Green Energy hitting the daily limit, although many stocks later experienced a pullback [1][14]. - The semiconductor sector faced a sharp decline, with companies like Yandong Micro and Huahai Qingke dropping over 10%, and several others hitting the daily limit down [1][3]. - Traditional sectors such as yellow wine, insurance, and banking experienced a rebound, while sectors like non-ferrous metals, CPO, PCB, and AI supply chains faced significant losses [1]. New Kai Lai Concept - The New Kai Lai concept stocks remained active, with companies like Zhichun Technology and Wenkai Co. seeing notable gains [6][7]. - There is speculation regarding the connection between New Kai Lai and semiconductor stocks, although official announcements have not confirmed any direct business ties [8][10]. Photovoltaic Sector Insights - The photovoltaic sector's sudden strength is often attributed to internal news, with expectations of important policy announcements regarding capacity regulation [15][17]. - Despite an initial rise of over 3%, the sector ultimately closed down by 0.36% for the day [17]. AI Hardware Sector - There were discussions about potential AI hardware tenders linked to ByteDance, with stocks like Shifeng Culture and Botong Integration seeing increased activity [20]. - However, the authenticity of the tender news is questioned, as it appears to be exaggerated from a more mundane announcement regarding supplier recruitment [20]. Zhend Medical - Zhend Medical saw a significant increase of 9% after a strong performance in the previous trading days, accumulating over 40% gains since the National Day holiday [21][22]. - The stock has shown a remarkable rise of over 170% in the past month and is being driven by large capital inflows [22][24].

每经AI快讯，截至10月14日收盘，79只个股连续上涨5个交易日及以上。东方材料（603110）、振德医 疗（603301）连续上涨9个交易日，金马游乐（300756）等连续上涨8个交易日。从累计涨幅来看，新莱 应材（300260）连涨期间累计涨幅达64.21%，振德医疗连涨期间累计涨幅达62.17%。 ...

Core Insights - On October 13, 2023, the Shanghai-Hong Kong Stock Connect saw its dedicated seats appear in 12 stocks on the Dragon and Tiger List, indicating significant trading activity in these stocks [1][2] Group 1: Net Buying Stocks - Yongding Co., Ltd. (600105) had a net buying amount of 192.85 million yuan, with a daily increase of 9.99% and a turnover rate of 21.97% [2] - Yuguang Gold Lead Co., Ltd. (600531) recorded a net buying of 110.17 million yuan, with a daily increase of 10.04% and a turnover rate of 10.14% [2] - CanSemi Technology Co., Ltd. (688691) saw a net buying of 22.59 million yuan, with a daily increase of 19.80% and a turnover rate of 25.89% [2] - Lu Wei Optoelectronics (688401) had a net buying of 20.60 million yuan, with a daily increase of 20.00% and a turnover rate of 10.53% [2] - Huahong Semiconductor (688347) experienced a net buying of 17.72 million yuan, with a daily increase of 20.00% and a turnover rate of 15.00% [2] - Hainan Huatie (603300) had a net buying of 8.43 million yuan, with a daily increase of 3.95% and a turnover rate of 23.09% [2] - Meiyan Qixiang (600868) recorded a net buying of 5.24 million yuan, with a daily increase of 10.18% and a turnover rate of 15.08% [2] Group 2: Net Selling Stocks - Baiyin Nonferrous Metals Co., Ltd. (601212) had a net selling amount of 114.10 million yuan, with a daily increase of 10.04% and a turnover rate of 8.36% [2] - Zhend Medical (603301) recorded a net selling of 32.68 million yuan, with a daily increase of 7.05% and a turnover rate of 6.24% [2] - Dazhong Public Utilities (600635) had a net selling of 32.53 million yuan, with no change in daily price and a turnover rate of 22.74% [2] - Yangyuan Beverage (603156) experienced a net selling of 22.42 million yuan, with a daily decrease of 9.21% and a turnover rate of 2.44% [2] - Baotailong (601011) recorded a net selling of 3.50 million yuan, with a daily increase of 10.09% and a turnover rate of 2.35% [2]

Market Overview - The medical device sector experienced a decline of 1.35% on October 13, with Nanwei Medical leading the drop [1] - The Shanghai Composite Index closed at 3889.5, down 0.19%, while the Shenzhen Component Index closed at 13231.47, down 0.93% [1] Top Performers - Zhendemedical (603301) saw a closing price of 60.44, with a rise of 7.05% and a trading volume of 166,300 shares [1] - Wuzhou Medical (301234) closed at 46.22, up 6.13%, with a trading volume of 32,400 shares [1] - BGI Genomics (688114) closed at 72.35, increasing by 4.99% with a trading volume of 89,300 shares [1] Underperformers - Nanwei Medical (688029) closed at 91.15, down 6.78% with a trading volume of 42,800 shares [2] - Kangzhong Medical (688607) closed at 26.57, down 4.60%, with a trading volume of 25,700 shares [2] - Mindray Medical (300760) closed at 235.20, down 2.81%, with a trading volume of 108,600 shares [2] Capital Flow - The medical device sector saw a net outflow of 412 million yuan from institutional investors, while retail investors contributed a net inflow of 325 million yuan [2][3] - The top net inflow from retail investors was observed in Mindray Medical, with 2.63 million yuan, while Zhendemedical experienced a net outflow of 55.19 million yuan from retail investors [3]

Investment Rating - The report assigns an "Overweight" rating to the pharmaceutical and biotechnology industry, indicating that the industry index is expected to outperform the CSI 300 index by 10% or more over the next six months [1][33]. Core Insights - The pharmaceutical and biotechnology sector experienced an overall decline of 1.20% from October 6 to October 10, 2025, ranking 25th among 31 industries in the Shenwan index, underperforming the CSI 300 index by 0.69 percentage points. Year-to-date, the sector has risen by 21.87%, ranking 12th among the 31 industries and outperforming the CSI 300 index by 4.54 percentage points [3][14]. - The current PE valuation for the pharmaceutical and biotechnology sector stands at 30.87 times, which is at the historical median level, with a valuation premium of 129% compared to the CSI 300 index [22][14]. - Notable stock movements include a 21.00% increase in Zhendemedical, a 12.01% rise in Wanbangde, and a 1.51% increase in the Traditional Chinese Medicine II sub-sector [27][3]. Market Performance - The pharmaceutical and biotechnology sector's performance for the week of October 6 to October 10, 2025, showed a decline of 1.20%, with Traditional Chinese Medicine II and pharmaceutical commerce sub-sectors increasing by 1.51% and 0.64%, respectively [13][3]. - Year-to-date, the sector has increased by 21.87%, with the top-performing sub-sectors being medical services (41.37%), chemical pharmaceuticals (36.28%), and biological products (16.22%) [14][3]. Industry News - On October 10, 2025, the State Council released regulations for the management of clinical research and application of new biomedical technologies, effective from May 1, 2026, establishing a clear framework for the sector's development [4][29]. - The National Medical Products Administration announced on October 9, 2025, that companies with Traditional Chinese Medicine injections approved before 2019 must accelerate post-marketing research and evaluation [4][30]. - Novo Nordisk announced on October 9, 2025, a $47 billion acquisition of Akero Therapeutics, gaining access to a potential best-in-class therapy for metabolic dysfunction-related fatty liver disease [5][30]. Investment Recommendations - The report suggests that the pharmaceutical and biotechnology sector has been underperforming recently, but the acquisition by Novo Nordisk indicates a long-term trend of multinational corporations enriching their R&D pipelines through mergers and acquisitions. The upcoming ESMO conference is anticipated to provide new data on domestic innovative drugs and potential business development opportunities [6][31]. - The report emphasizes that domestic innovative drug companies are rapidly gaining global competitiveness, and innovative drugs remain a key investment theme in the medium to long term. The innovative drug sector is expected to continue showing high revenue growth and reducing losses [6][31]. - Recommended stocks include Teabo Bio, Betta Pharmaceuticals, Kelun Pharmaceutical, KAILI Medical, Pumen Technology, and Huaxia Eye Hospital, with a watchlist including Zhongsheng Pharmaceutical, Rongchang Bio, Qianhong Pharmaceutical, Yifeng Pharmacy, Baipusais, and Lingrui Pharmaceutical [6][31].