Investment Rating - The report maintains a "Buy" rating for the company [6] Core Insights - The company's performance exceeded market expectations, with Q3 2025 revenue reaching 201 million yuan, a year-on-year increase of 18.56%, indicating a trend of accelerating growth compared to H1 2025 [2] - The overseas business contributed significantly to the company's performance, with Q3 2025 overseas revenue of 39 million yuan, a year-on-year increase of 63.97, showcasing the company's ability to adapt and grow in international markets [2] - The report predicts continued rapid growth for the company due to ongoing capacity expansion and a focus on both domestic and international market development [2] Financial Summary - For the fiscal years 2025 to 2027, the revenue forecast has been adjusted to 795 million yuan, 939 million yuan, and 1.11 billion yuan respectively, with corresponding EPS adjusted to 0.35 yuan, 0.42 yuan, and 0.51 yuan [3] - The projected PE ratios for 2025, 2026, and 2027 are 49, 40, and 33 times respectively, based on the closing price of 17.05 yuan per share on October 23, 2025 [3] - The financial summary indicates a revenue growth rate of 15.8% for 2025, with a net profit growth rate of 29.5% [5]

分析人士指出，此次工商变更完成有助于富芮坤整合优质资源，提升管理与运营效率，并为星宸科技拓展新业务领域、实现产业链协同提供支撑。这也意味 着公司在核心业务布局上迈入新的发展阶段。 近期，星宸科技股价走势备受投资者关注。随着技术创新和市场拓展的持续推进，公司在资本市场的活跃度不断提升。富芮坤工商变更完成的消息，为市场 注入积极信号，增强了投资者对公司长期成长的信心。 星宸科技所在的半导体与智能芯片行业正处于高速发展阶段。随着国产替代加速、智能终端需求增长，行业发展空间持续扩大。业内认为，公司持续深化核 心技术创新，并强化控股子公司管理，将有望抓住新一轮产业机遇。 分析人士提醒，科技股波动性较高，投资者需关注行业周期与市场风险因素。在保持理性投资的同时，应聚焦企业基本面和长期竞争力，以科学方式参与市 场。（校对/秋贤） （文/罗叶馨梅）10月22日，星宸科技（股票代码：688046）发布公告称，其控股子公司富芮坤已完成工商变更登记及备案手续，引发市场广泛关注。变更 完成后，富芮坤将正式纳入星宸科技合并报表范围，为公司未来业绩增长和业务协同注入新的动力。 公告显示，富芮坤已取得中国（上海）自由贸易试验区市场监督管理 ...

药康生物表示，报告期内净利增长，主要系产能提高，随着国内外市场的开拓力度增大，业务增长所 致。 北京商报讯（记者 丁宁）10月22日晚间，药康生物（688046）发布2025年第三季度报告显示，公司前 三季度实现营业收入约为5.76亿元，同比增长12.92%；归属净利润1.1亿元，同比增长11.9%。 ...

（文章来源：证券日报） 证券日报网讯 10月22日晚间，药康生物发布2025年第三季度报告称，2025年第三季度公司实现营业收 入200，767，829.39元，同比增长18.56%；归属于上市公司股东的净利润为38，994，597.46元，同比 增长78.25%。 ...

江苏集萃药康生物科技股份有限公司 证券代码：688046 证券简称：药康生物 公告编号：2025-069 关于召开 2025 年半年度暨第三季度业绩说明会的 公告 一、 说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2025 年半年度及 2025 年三季度的经营成果及财务指标的具体情况与投资者进行互动交流和沟通，在信 息披露允许的范围内就投资者普遍关注的问题进行回答。 二、 说明会召开的时间、地点 （一） 会议召开时间：2025 年 10 月 31 日（星期五）16:00-17:00 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： 会议召开时间：2025 年 10 月 31 日 （星期五） 16:00-17:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 10 月 24 日 （星期五） 至 10 月 30 日 （星期四）1 ...

智通财经APP讯，药康生物(688046.SH)披露2025年第三季度报告，公司前三季度实现营收5.76亿元，同 比增长12.92%;归属于上市公司股东的净利润1.1亿元，同比增长11.9%;扣非净利润9279万元，同比增长 29.21%;基本每股收益0.27元。 ...

江苏集萃药康生物科技股份有限公司 2025 年第三季度报告 证券代码：688046 证券简称：药康生物 江苏集萃药康生物科技股份有限公司 2025 年第三季度报告 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、准确性和完整性依法承担法律责任。 重要内容提示： 公司董事会及董事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假记载、误 导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 （一） 主要会计数据和财务指标 1 / 13 单位：元 币种：人民币 项目 本报告期 本报告期 比上年同 期增减变 动幅度(%) 年初至报告期 末 年初至报告期 末比上年同期 增减变动幅度 (%) 营业收入 200,767,829.39 18.56 575,576,818.48 12.92 利润总额 42,718,585.10 96.06 120,160,805.79 21.13 归属于上市公司股东的 ...

药康生物公告，第三季度营收为2.01亿元，同比增长18.56%；净利润为3899.46万元，同比增长 78.25%。前三季度营收为5.76亿元，同比增长12.92%；净利润为1.1亿元，同比增长11.90%。 ...

Core Insights - The medical services sector experienced a rise of 1.53% on October 21, with He Yuan Biological leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Medical Services Sector Performance - He Yuan Biological (688238) closed at 7.78, with an increase of 8.21% and a trading volume of 282,000 shares, amounting to 217 million yuan [1] - Other notable performers included Bei Rui Gene (000710) with a closing price of 13.22, up 3.77%, and Yao Kang Biological (688046) at 16.71, up 3.66% [1] - The sector saw a total net inflow of 250 million yuan from main funds, while retail investors experienced a net outflow of approximately 74 million yuan [2] Fund Flow Analysis - Major net inflows were observed in companies like Yao Ming Kang De (603259) with 353 million yuan, while retail investors showed significant outflows [3] - The top three companies by main fund inflow were Yao Ming Kang De (603259), Kang Long Hua Cheng (300759), and Hao Yuan Medical (688131) [3] - Retail investors showed a negative trend in several companies, indicating a cautious sentiment in the market [3]

Core Insights - The "5th Summit Forum on the Development and Cooperation of the Experimental Animal Industry" was successfully held in Nanjing, gathering hundreds of industry experts, scholars, and representatives to discuss the current status, challenges, and future directions of the experimental animal industry [1] Group 1: Industry Development - The forum highlighted the need for efficient collaboration among enterprises, research, and management to promote healthy industry development, emphasizing that growth should not solely focus on scale but also on internal growth and new experiences [2] - The industry faces significant challenges such as resource distribution and standard systems, necessitating breaking down barriers and deepening cooperation to enhance overall technical competitiveness [2] - The experimental animal industry is at a crossroads, transitioning from resource-oriented to technology-driven, with a call for open collaboration and collective innovation to avoid internal competition [2] Group 2: Regional Initiatives - The Nanjing Jiangbei New Area has made strides in building a biopharmaceutical innovation ecosystem and aims to create a trillion-level industrial cluster, recognizing the foundational role of experimental animals in biopharmaceutical research [3] - The area has significantly reduced the approval time for experimental animals through institutional innovation and established a leading global mouse model resource library [3] - Future efforts will focus on policy supply, platform construction, and safety assurance, inviting experts to collaborate in this innovative environment [3] Group 3: Market Outlook - The Chinese experimental animal market is experiencing rapid growth, with animal resources gaining international recognition and the standardization process accelerating [3] - There is a consensus among participants that companies should enhance innovation capabilities, pursue differentiated strategies, and actively explore international markets while deepening industry-academia-research cooperation for efficient result transformation [3] - The forum concluded with a site visit to the facilities of Yaokang Bio, fostering exchanges on facility management, animal welfare, and standardized operations, laying a solid foundation for future collaboration [3]