Group 1: New Stock Issuances - Cash option declaration period for *ST Tianmao (000627) is from September 15 to September 19, 2025[1] - *ST Zitian (300280) has 11 trading days remaining until the last trading day during the delisting arrangement period[1] - *ST Dongtong (300379) has reported severe abnormal fluctuations in stock price[1] Group 2: Market Alerts - Jiushi Media (601929) has experienced significant abnormal fluctuations in stock price[1] - Xian Dao Intelligent (300450) has reported severe abnormal fluctuations in stock price[1] - Hangke Technology (688006) has issued a notice regarding stock performance[1] Group 3: Trading Notifications - Shanghai Construction (600170) has issued a trading notification on September 18, 2025[1] - Junsheng Electronics (600699) has issued a trading notification on September 18, 2025[1] - ST Changyuan (600525) has issued a trading notification on September 18, 2025[1]

Investment Rating - The report maintains a "Recommended" investment rating for the pharmaceutical and biotechnology industry [6] Core Viewpoints - The pharmaceutical sector has outperformed the CSI 300 index, with the Shenwan Pharmaceutical Biotechnology Index rising by 2.46% from September 1 to September 14, 2025, and by 26.80% year-to-date, surpassing the CSI 300 index by 1.16 percentage points and 11.88 percentage points respectively [1][13] - The current valuation of the pharmaceutical sector stands at 31.58 times (TTM overall method, excluding negative values), with a premium of 148.92% compared to the CSI 300 index [16] - The National Medical Products Administration (NMPA) has announced measures to optimize the review and approval process for innovative drug clinical trials, aiming to complete reviews within 30 working days for eligible applications [20] - The ongoing reforms in drug review and approval systems are expected to enhance the efficiency of clinical trials and accelerate the development of innovative drugs, benefiting companies in this sector [21] Summary by Sections 1. Biweekly Market Review - The pharmaceutical sector's performance from September 1 to September 14, 2025, shows a 2.46% increase, ranking 8th among 31 Shenwan first-level industry indices [11] - Year-to-date, the pharmaceutical sector has increased by 26.80%, also ranking 8th among the indices [13] - The top ten stocks by increase include Zhendemedical (+46.67%), Haooubo (+34.22%), and Kangwei Century (+30.28%), while the top ten stocks by decrease include Shutaishen (-24.15%) and Shanghai Yizhong (-15.39%) [17][18] 2. Important Events - On September 12, 2025, the NMPA released an announcement to support innovative drug development by optimizing the clinical trial review process [20] 3. Industry Insights - The report emphasizes the acceleration of innovative drug development in China, with significant results emerging and ongoing policy optimizations expected to further support this trend [21] - The second half of 2025 is expected to see continued focus on innovative drugs, international expansion, and the clearing of procurement processes, with specific attention to insulin and orthopedic sectors [21]

New Stock Issuance - Cash option declaration period for *ST Tianmao (000627) is from September 15 to September 19, 2025[1] - *ST Zitian (300280) has 12 trading days remaining until the last trading day during the delisting arrangement period[1] Trading Alerts - *ST Jishi Media (601929) reported severe abnormal fluctuations in stock price[1] - *ST Yushun (002289) and *ST Weier (002058) are under scrutiny due to abnormal trading activities[1] Company Announcements - *ST Gao Hong (000851) and *ST Dongtong (300379) have recent announcements regarding their financial status[1] - Shanghai Construction (600170) and Zhongke Shuguang (603019) have disclosed important updates on their operations[1] Market Trends - The report indicates a trend of increased scrutiny on companies with abnormal trading patterns, reflecting a tightening regulatory environment[2] - The number of companies under cash option declarations and delisting arrangements suggests a potential increase in market volatility[1]

New Stock Issuance - Jin Hua New Material (920015) issued at a price of 18.15[1] - Jianfa Zhixin (301584) issued at a price of 7.05[1] Market Alerts - Cash option declaration period for *ST Tianmao (000627) from September 15 to September 19, 2025[1] - 13 trading days remaining for the delisting period of Zitian Tui (300280)[1] - Severe abnormal fluctuation reported for Jishi Media (601929)[1] Other Announcements - Multiple companies including Shanghai Construction (600170) and Zhongke Shuguang (603019) have recent announcements linked[1] - Various stocks are under scrutiny for abnormal trading activities, including *ST Yu Shun (002289) and ST Huaneng (000851)[3]

Core Viewpoint - The stock of Zhend Medical Supplies Co., Ltd. experienced an abnormal trading fluctuation, with a cumulative closing price increase exceeding 20% over three consecutive trading days from September 11 to September 15, 2025 [2][4]. Group 1: Stock Trading Abnormality - The stock price deviation was identified as an abnormal trading situation according to the Shanghai Stock Exchange trading rules [2][4]. - The company confirmed that there were no undisclosed significant matters or important information as of the announcement date [2][6]. Group 2: Company Operations - The company reported that its production and operations are normal, with no significant changes in the external operating environment or industry policies [5]. Group 3: Major Transactions - On September 10, 2025, the controlling shareholder, Zhejiang Zhend Holdings Co., Ltd., and its wholly-owned subsidiary signed a share transfer agreement to transfer a total of 13,322,560 shares (5.00% of total share capital) at a price of RMB 26.74 per share [6]. - The total transaction value is approximately RMB 356.25 million [6]. Group 4: Compliance and Risk - The share transfer is subject to compliance review by the Shanghai Stock Exchange and must complete the share transfer registration process, which may involve the release of pledged shares [7]. - The company has not identified any media reports or market rumors that could significantly impact the stock price [8]. - There were no significant stock trading activities by directors, senior management, or controlling shareholders during the abnormal trading period [9].

Core Points - Zhendé Medical (603301) experienced a significant stock price increase, closing at 38.1 yuan on September 15, 2025, which is a 6.9% rise from the previous trading day, with a total market capitalization of 10.152 billion yuan [1] - The stock exhibited abnormal trading fluctuations, with a cumulative price increase deviation exceeding 20% over three consecutive trading days [1] - The company confirmed that there are no undisclosed significant matters apart from the disclosed share transfer [1] Summary by Sections Stock Performance - On September 15, 2025, Zhendé Medical's stock opened at 35.79 yuan, reached a high of 39.19 yuan, and a low of 33.77 yuan, with a trading volume of 1.109 billion yuan and a turnover rate of 11.48% [1] Share Transfer - The controlling shareholder, Zhejiang Zhendé, and its wholly-owned subsidiary, Xuchang Garden, plan to transfer a total of 13,322,560 shares (5.00% of total share capital) at a price of 26.74 yuan per share, totaling approximately 356.25 million yuan [1] - This share transfer is subject to compliance review by the Shanghai Stock Exchange and the completion of share transfer registration, indicating some uncertainty [1] Company Operations - The company stated that its production and operations are normal, with no significant changes in the external business environment or industry policies [1] - There were no major media reports or market rumors identified that could have significantly impacted the company's stock price during the fluctuation period [1] - The board of directors confirmed that there are no undisclosed matters that should have been disclosed [1]

Core Viewpoint - Zhend Medical announced that its stock price experienced an abnormal fluctuation, with a cumulative increase of over 20% in closing prices over three consecutive trading days from September 11 to September 15, 2025 [2]. Summary by Sections - **Stock Performance** - The stock price of Zhend Medical showed a cumulative increase of over 20% during the trading days of September 11, 12, and 15, 2025, indicating significant market activity [2]. - **Company Response** - Following the abnormal stock price movement, the company conducted a self-examination and inquired with its controlling shareholder and actual controller, confirming that there are no undisclosed significant matters or important information as of the date of the announcement [2].

Core Viewpoint - Zhendermedical (603301) experienced a significant increase of 6.90% in stock price, with a trading volume of 1.109 billion yuan and a volatility of 16.05% on the day of reporting [2] Group 1: Stock Performance - The stock had a turnover rate of 11.48% and a trading amplitude of 16.05% [2] - Institutional investors net sold 102 million yuan, while the Shanghai-Hong Kong Stock Connect recorded a net sell of 2.59 million yuan [2] - The top five trading departments had a combined transaction volume of 505 million yuan, with a net sell of 20.28 million yuan [2] Group 2: Fund Flow - The stock saw a net outflow of 27.96 million yuan from main funds, with a net inflow of 3.75 million yuan from large orders [2] - Over the past five days, the main funds had a net inflow of 171 million yuan [2] Group 3: Financing and Earnings - As of September 12, the margin trading balance was 242 million yuan, with a financing balance of 242 million yuan and a securities lending balance of 531,000 yuan [3] - The financing balance increased by 55.34 million yuan over the past five days, representing a growth of 29.70% [3] - The company reported a revenue of 2.1 billion yuan for the first half of the year, a year-on-year increase of 2.83%, while net profit decreased by 20.70% to 128 million yuan [3]

二、公司关注并核实的相关情况 证券代码：603301 证券简称：振德医疗 公告编号：2025-034 振德医疗用品股份有限公司 股票交易异常波动公告 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法律责任。 重要内容提示： 1、振德医疗用品股份有限公司(以下简称:"公司"、"本公司") 股票于 2025 年 9 月 11 日、9 月 12 日、9 月 15 日连续 3 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情形。 2、经公司自查,并书面发函询问控股股东及实际控制人,截至本 公告披露日,确认不存在应披露而未披露的重大事项或重要信息。 3、敬请广大投资者注意投资风险。 一、股票交易异常波动的具体情况 公司股票于 2025 年 9 月 11 日、9 月 12 日、9 月 15 日连续 3 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情形。 根据上海证券交易所相关规定,公司对相关问题进行了必要核实。 现说 ...

关于《振德医疗用品股份有限公司股票交易异常波动 问询函》的回函 振德医疗用品股份有限公司: 本人于 2025 年 9 月 15 日收到贵公司发来的《振德医疗用品股份 有限公司股票交易异常波动问询函》,经自查核实,回复如下: 本人控制的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、中国工商银行股份有限公司绍兴分 行签署了《关于振德医疗用品股份有限公司股份转让协议》,浙江振 德、许昌园林拟将其持有的合计 13,322,560 股贵公司无限售条件流通 股(占贵公司总股本 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,占贵公 司总股本的 0.58%;许昌园林拟转让 11,773,940 股,占贵公司总股本 的 4.42%),转让价款共计人民币 356,245,254.40 元。振德医疗已于 2025年9月 11日在上海证券交易所网站披露该事项详细内容。 本次协议转让事项尚需履行上海证券交易所合规性审核,并在中 国证券登记结算有限责 ...