风险提示：本文基于公开数据整理，不构成任何投资建议。证券市场存在波动风险，投资者需审慎决 策。 来源:金融界 7月14日盘后数据显示，塞力医疗因单日换手率超20%登上龙虎榜。值得关注的是，多家知名证券营业 部同时现身买卖双方榜单，呈现出明显的多空博弈特征。 在买方阵营中，广发证券武汉纺织路营业部以4244.62万元居首，该营业部近期在医疗板块操作频繁。 国泰海通证券总部以3960万元紧随其后，其近三个月上榜次数达559次，显示出极强的市场活跃度。瑞 银证券上海花园石桥路第二营业部与中信证券上海分公司同时上榜，这两家营业部在成长股交易中具有 较高辨识度。值得注意的是，机构专用席位以3205.40万元位列买方第四，显示出专业投资机构对该股 的关注。 卖方榜单呈现明显分化，国泰海通证券总部与瑞银证券上海花园石桥路第二营业部在卖出端分别以 8057.35万元和6109.61万元占据前两位，与其在买方榜单的操作形成鲜明对比。摩根大通证券上海银城 中路营业部以2678.74万元位列卖方第三，该席位在跨境资本流动中具有风向标意义。华创证券北京西 直门营业部与中信证券上海漕溪北路营业部则作为新生力量首次现身该股卖方榜单。 从 ...

创新药概念股集体调整， 塞力医疗、 联环药业跌停， 常山药业、 哈三联、 润都股份、 泓博医药、 北 陆药业、 昂利康、 舒泰神等跌超5%。 ...

Trading Information Summary - On July 14, 2025, Saily Medical (603716) closed at 24.89 yuan, down 3.26%, with a turnover rate of 27.08% and a trading volume of 517,300 lots, amounting to 1.329 billion yuan [1] - The fund flow on July 14 showed a net outflow of 58.49 million yuan from main funds, accounting for 4.4% of the total trading volume, while retail investors had a net inflow of 60.85 million yuan, representing 4.58% of the total trading volume [1][4] - Saily Medical appeared on the "Dragon and Tiger List" for the fifth time in the last five trading days due to a daily turnover rate reaching 20% [1][4] Earnings Disclosure Highlights - Saily Medical announced an earnings forecast for the first half of 2025, expecting a net loss of 70 million to 81 million yuan after deducting non-recurring gains and losses, and a net loss attributable to shareholders of the parent company between 55 million and 66 million yuan [2][4] Company Announcement Summary - Saily Medical issued a notice regarding the potential redemption conditions for "Saily Convertible Bonds," which were publicly issued on August 21, 2020, with a total amount of 543.31 million yuan and a term of six years [3] - The current conversion price is 12.00 yuan per share, and if the stock price remains above 15.60 yuan per share for five out of the next twenty trading days, it is expected to trigger the redemption conditions for the convertible bonds [3][4]

Core Viewpoint - On July 14, the Shanghai Composite Index rose by 0.27%, with institutional investors appearing on the trading lists of 35 stocks, net buying 19 and net selling 16 [1] Institutional Trading Summary - Institutional special seats net bought the most in Xiangyang Bearing, which closed at the daily limit with a turnover rate of 27.67% and a transaction amount of 2.076 billion yuan, net buying 110.74 million yuan [2] - San Chuan Wisdom closed up 15.27% with a turnover rate of 32.50%, net buying 75.27 million yuan, but had a net outflow of 35.2 million yuan [2] - Zhongke Magnetic Industry closed down 5.10% with a turnover rate of 45.77%, net buying 53.99 million yuan, but had a net outflow of 49.77 million yuan [2] Market Performance - The average increase of stocks with institutional net purchases was 2.36%, outperforming the Shanghai Composite Index [3] - Stocks like Changrong Co. and Xinling Electric showed strong performance, closing at the daily limit [3] - Historical data indicates a 52.06% probability of stocks with institutional net purchases rising the next day, and a 39.70% probability of rising in the following three days [3] Earnings Forecasts - Among the stocks with institutional net purchases, four have released half-year earnings forecasts, with Yuhua Development expected to have a net profit of 200 million yuan, a year-on-year increase of 708% [3] Net Selling Summary - The stock with the highest net selling by institutions was Siyuan Electric, with a net selling amount of 162.84 million yuan, while also seeing a net inflow of 98.77 million yuan [3] - Dazhihui was noted for a net selling of 120.24 million yuan, with a significant net outflow of 433 million yuan [4] Deep and Shanghai Stock Connect - On July 14, 15 stocks on the trading list had appearances from the Deep and Shanghai Stock Connect, with Siyuan Electric and Zhongke Jincai seeing net purchases of 139 million yuan and 113 million yuan respectively [7][8] - Stocks like Hengbao Co. and Greenland Holdings experienced significant net selling amounts of 193 million yuan and 79.38 million yuan respectively [8]

| 证券代码：603716 | 证券简称：塞力医疗 | 公告编号：2025-063 | | --- | --- | --- | | 债券代码：113601 | 债券简称：塞力转债 | | 塞力斯医疗科技集团股份有限公司 关于"塞力转债"预计满足赎回条件的提示性公告 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。 一、可转换公司债券发行上市概况 （一）可转换公司债券发行情况 经中国证券监督管理委员会（证监许可【2020】1033号）核准，公司于2020 年8月21日公开发行了543.31万张可转换公司债券，每张面值100元，发行总额 54,331万元，期限6年。本次发行的可转换公司债券的票面利率为：第一年0.50%， 第二年0.80%，第三年1.00%，第四年1.50%，第五年2.50%，第六年3.00%。 （二）可转换公司债券上市情况 经上海证券交易所自律监管决定书【2020】306号文同意，公司发行总额为 54,331万元的可转换公司债券于2020年9月15日起在上海证券交易所挂牌交易， 债券简称"塞力转债"，债券代码"11 ...

| 证券代码：603716 | 证券简称：塞力医疗 | 公告编号：2025-064 | | --- | --- | --- | | 债券代码：113601 | 债券简称：塞力转债 | | 塞力斯医疗科技集团股份有限公司（以下简称"公司"）预计2025年半 年度实现归属于上市公司股东的净利润为-5,500万元人民币到-6,600万元人民 币；预计2025年半年度归属于上市公司股东的扣除非经常性损益的净利润为 -7,000万元人民币到-8,100万元人民币。 上述财务数据未经注册会计师审计，系财务部门根据自身专业初步核算 数据。 一、本期业绩预告情况 （一）业绩预告期间 2025 年 1 月 1 日至 2025 年 6 月 30 日。 塞力斯医疗科技集团股份有限公司 2025 年半年度业绩预亏公告 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： 本次业绩预告适用情形：净利润为负值。 2、公司预计 2025 年半年度归属于上市公司股东的扣除非经常性损益的净利 润为-7,000 万元人民币到-8,100 万元人民币，与 ...

Core Viewpoint - The company, Sely Medical (603716.SH), anticipates a net loss attributable to shareholders of between -55 million to -66 million yuan for the first half of 2025, indicating an increase in losses compared to the same period last year [1] Group 1: Financial Performance - The expected net profit loss for the first half of 2025 is projected to be between -55 million to -66 million yuan, which represents a worsening of losses compared to the previous year [1] - The company has undergone strategic transfers of certain subsidiaries, which has had a short-term negative impact on overall revenue scale and gross profit levels [1] Group 2: Strategic Transition - The company is currently in a strategic transition phase, focusing on upgrading from traditional medical supply chain services to medical intelligence [1] - Industry policies have influenced the company's operations, leading to extended collection periods for accounts receivable from some clients [1] Group 3: Revenue and Profitability Challenges - The company has experienced a decline in operating revenue and gross profit due to the lack of renewal arrangements for certain businesses after their expiration [1]

Core Viewpoint - The stock of Saily Medical (603716) has experienced significant trading volatility, with a cumulative price deviation exceeding 20% over three consecutive trading days, indicating abnormal trading activity [3]. Trading Information Summary - On July 11, Saily Medical's stock closed at 25.73 yuan, up 0.47%, with a turnover rate of 33.42%, a trading volume of 638,400 lots, and a total transaction value of 1.595 billion yuan [1]. - The fund flow on the same day showed a net outflow of 70.5244 million yuan from main funds, accounting for 4.42% of the total transaction value, while retail investors had a net inflow of 20.0158 million yuan, representing 1.25% of the total [2][5]. Company Announcement Summary - Saily Medical reported that its stock has been subject to abnormal trading conditions due to a cumulative price deviation exceeding 20% over three trading days. The company confirmed that there are no undisclosed significant matters affecting the stock price, and its operations remain normal [3]. - The company reported a net loss of approximately 209.24 million yuan for 2024, a decrease of 31.95% year-on-year, and an unaudited net loss of about 14.32 million yuan for the first quarter of 2025, a significant decrease of 553.66% year-on-year [3]. - The company’s major shareholder has a high pledge ratio, and the clinical trial application for its joint venture project has been accepted, although the success of the trials remains uncertain [3]. Investor Relations - In response to investor concerns about continuous losses over five years, the company stated that it is implementing various measures to improve operations and performance, including leveraging technology and optimizing financial structures [4].

Market Review - The CITIC Pharmaceutical Index increased by 1.80%, outperforming the CSI 300 Index by 0.98 percentage points, ranking 16th among 30 CITIC first-level industry indices [5] - The top ten stocks by increase this week include Frontier Biologics-U, Medici, Lianhuan Pharmaceutical, Kangchen Pharmaceutical, and others, with Frontier Biologics-U leading at 41.43% [4][5] - The bottom ten stocks by decrease include ST Weiming, Shenzhou Cell, and Shuotai Shen, with ST Weiming dropping by 18.51% [4][5] Overall Viewpoint and Investment Themes - The current valuation of the pharmaceutical sector is at a low point, with public funds (excluding pharmaceutical funds) having low allocation to the sector. The company remains optimistic about the growth of the pharmaceutical industry by 2025, driven by macroeconomic factors and the demand from major categories [9] - In the innovative drug sector, there is a shift from quantity logic to quality logic, focusing on differentiated domestic and international pipelines. The company suggests paying more attention to products and companies that can ultimately realize profits [9] - In the medical device sector, there is a noticeable recovery in bidding volumes for imaging equipment, and the home medical device market is expected to benefit from subsidy policies. The company highlights the potential for import substitution and growth in the orthopedic sector post-collection [9] - The innovation chain (CXO + life sciences services) is expected to see a rebound in overseas investment and a bottoming out in domestic investment, with a potential return to high growth by 2025 [9] - The pharmaceutical industry is anticipated to enter a new growth cycle, with a focus on specialty raw materials and the expiration of patents leading to new growth opportunities [9] Industry and Company Events - The company highlights the innovative layout of traditional Chinese medicine enterprises, with several products in clinical II and III phases, including those targeting chronic insomnia and primary acute gouty arthritis [29][30] - Yunnan Baiyao has several drugs in various clinical stages, including those for prostate cancer and other conditions, indicating a robust pipeline [16][19] - The company emphasizes the importance of the blood products sector, which is expected to see significant growth due to relaxed approval processes and increased production capacity [14] - The innovative drug pipeline of Yiling Pharmaceutical focuses on cardiovascular, respiratory, and endocrine diseases, with multiple drugs in clinical trials [20][21]

Investment Rating - The investment rating for the computer industry is optimistic (maintained) [1] Core Insights - The brain-computer interface (BCI) market has significant potential, with global medical applications expected to reach $40 billion by 2030 and $145 billion by 2040 [5][36] - The technology is maturing, with companies like Neuralink receiving FDA approval for human trials, indicating a shift from concept to practical application [6][8] - Policy support is increasing, with various regions in China implementing plans to accelerate the commercialization of BCI technologies [7][45] Summary by Sections 1. Brain-Computer Interface: Continuous Breakthrough - BCI creates a communication channel between the brain and external devices, enabling direct information exchange [17] - The global BCI market was valued at $2.35 billion in 2023, with a projected CAGR of 16.55% from 2023 to 2033 [35] 2. Policy and Technology Resonance: Bright Commercial Prospects for BCI 2.1 Policy: BCI Medical Pricing Implementation Accelerates Commercialization - Major countries are investing in BCI research, with the U.S. and EU leading in funding and project initiatives [41][44] - China's government has issued multiple directives to guide BCI development, including the establishment of independent pricing for BCI services [45][46] 2.2 Technology: Positive Progress in Clinical Trials, Approaching Industrialization - The BCI system faces numerous technical barriers, particularly in balancing performance and commercial viability [48] - China's BCI sector is rapidly advancing, with increasing publications and patents in the field [51][52] 3. Beneficiary Companies 3.1 Neuralink: Pioneer in Invasive BCI Technology - Neuralink is leading in invasive BCI technology, having initiated human trials and planning further patient implants [55][66] 3.2 Strong Brain Technology: Leader in Non-Invasive BCI - Strong Brain Technology focuses on non-invasive BCI solutions, having developed multiple products and secured significant funding [67][69] 3.3 Rock Mountain Technology: Forward-Looking Layout of Brainwave Large Models - Rock Mountain Technology is developing brainwave large models to enhance human-computer interaction systems [80]