证券代码：688068 证券简称：热景生物 公告编号：2026-010 （www.sse.com.cn）披露的《北京热景生物技术股份有限公司关于以集中竞价交 易方式出售部分已回购股份计划公告》（公告编号：2025-090）。 北京热景生物技术股份有限公司 关于以集中竞价交易方式首次出售已回购股份的 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、准确性和完整性依法承担法律 责任。 重要内容提示： 回购股份的基本情况 为维护公司价值及股东权益，北京热景生物技术股份有限公司（以下简称"公 司"）于 2024 年 2 月 8 日至 2024 年 5 月 7 日期间累计回购公司股份 2,893,010 股，占公司当前总股本的 3.12%，具体内容详见公司于 2024 年 5 月 9 日披露的 《北京热景生物技术股份有限公司关于股份回购实施结果暨股份变动公告》（公 告编号：2024-042）。上述回购的股份将于披露回购实施结果暨股份变动公告十 二个月后采用集中竞价交易方式出售。公司如未能在股份回购完成之后 36 个月 内实施上述用途，未使用部分应予以 ...

Summary of Key Points from Conference Call Records Industry Overview - **Industry Focus**: Innovative pharmaceuticals, particularly in the context of China's biopharmaceutical sector and its international expansion - **Market Growth**: The total value of BD (Business Development) transactions for innovative drugs is projected to reach $137.7 billion by 2025, a 1.6 times increase year-on-year, significantly surpassing the electric vehicle sector's $74 billion in the same timeframe [1][2][3] Core Insights and Arguments - **International Expansion**: The innovative drug sector is experiencing explosive growth in international markets, with Q1 2026 BD transactions already reaching $60 billion, accounting for 46% of the total for 2025 [1][2] - **Policy Support**: Biopharmaceuticals have been designated as a new pillar industry by the Chinese government, shifting focus from public welfare to GDP contribution, indicating a supportive policy environment for growth [2][3] - **Performance Expectations**: Companies like Heng Rui Medicine are expected to see over 30% growth in innovative drug revenue by 2026, with significant contributions from key products [1][3] - **Clinical Developments**: Major clinical data releases are anticipated from key conferences such as AACR and ASCO, which could catalyze market movements [1][5] Notable Companies and Their Prospects - **Heng Rui Medicine**: Expected to achieve over 30% growth in innovative drug revenue, with a strong pipeline of 53 products anticipated for approval between 2022 and 2028 [15] - **Kangfang Biopharma**: Key product AK112 is set to release critical clinical data in 2026, which could significantly impact its market position [11][13] - **Baiyi Shenzhou**: Projected profits of $700-800 million in 2026, indicating a rapid profit climb [1][8] - **Xinda Biopharma**: Anticipated to benefit from new product approvals and commercial launches, with a focus on expanding its product pipeline [6][8] Investment Opportunities - **Recommended Stocks**: Key investment targets include Kangfang Biopharma, Xinda Biopharma, Baiyi Shenzhou, and Kelong Biotechnology in the H-share market, and Xintai, Haishike, and Heng Rui Medicine in the A-share market [4][8] - **Undervalued Stocks**: Companies like Hot Scene Biopharma and Yifang Biopharma, which have seen significant price declines, are suggested for bottom-fishing opportunities [4][8] Emerging Trends - **Small RNA Technology**: The small RNA sector is entering a critical phase with breakthroughs in liver-targeted delivery technologies, and several companies are expected to announce significant clinical data in 2026 [18][22] - **Clinical Data Impact**: Recent clinical data from companies like Serapta and Wave Life Sciences highlight the potential and challenges within the small RNA space, influencing market sentiment and investment strategies [20][21] Conclusion - The innovative pharmaceutical sector in China is poised for significant growth driven by international expansion, supportive policies, and strong company performances. Key clinical events and emerging technologies present substantial investment opportunities, particularly in small RNA and innovative drug development.

Group 1 - The core viewpoint of the article highlights a resurgence in the A-share innovative drug sector, with significant stock price increases and a potential new market rally following a period of adjustment [2][3] - As of March 21, 2026, the total amount of external licensing (BD) by Chinese innovative drug companies reached $57.1 billion, accounting for 41% of the total for 2025, indicating the global value of Chinese innovation in pharmaceuticals [2] - The 2026 National People's Congress report explicitly lists biomedicine as a "new pillar industry," elevating its strategic importance alongside sectors like integrated circuits and aerospace [2] Group 2 - The innovative drug sector's valuation has returned to a reasonable range after previous market adjustments, with policy benefits and profit cycles expected to drive high-quality companies with commercialization capabilities to the forefront [3] - The upcoming AACR conference from April 17-22, 2026, is anticipated to be a catalyst for the sector, with several Chinese innovative drug companies expected to release important clinical data [2] Group 3 - Key companies in the innovative drug sector include Meinohua, which has shown promising clinical data for its weight loss drug and is expanding collaborations in cardiovascular and diabetes treatments [6] - Wanbangde focuses on Alzheimer's disease with innovative drugs and has a strong pipeline in neurology, oncology, and cardiovascular areas [6] - Hengrui Medicine holds multiple significant ADCs and has secured large overseas licensing deals, positioning itself as a leader in the innovative drug space [7]

Market Overview - On March 27, the stock indices in both markets surged, with the Shanghai Composite Index returning above 3900 points, and the ChiNext Index and others rising over 1% [1][2] - The total trading volume in the Shanghai and Shenzhen markets was approximately 1.86 trillion yuan, a decrease of about 93 billion yuan compared to the previous day [2] Pharmaceutical Sector - The pharmaceutical sector showed strong performance, particularly in innovative drugs and weight-loss drug concepts, with companies like Shuyou Shen and Rejing Bio hitting the daily limit [2][5] - Key stocks included: - Shuyou Shen: +20.02% [6] - Rejing Bio: +20.00% [6] - Baili Tianheng: +12.46% [6] - The overall trend for innovative drugs is upward, supported by improved funding conditions and competitive advantages of domestic innovative drugs [8] Lithium Battery Sector - The lithium battery sector experienced a significant surge, with Haike New Energy hitting the daily limit and reaching a historical high [10] - Notable stock performances included: - Haike New Energy: +20.00% [11] - Rongjie Co.: +20.00% [11] - Ganfeng Lithium: +10.00% [11] - Demand for lithium batteries is expected to explode due to high oil prices, with global orders for lithium batteries increasingly directed towards China [12] Chemical Sector - The chemical sector was active, with stocks like Dinglong Co. and Shandong Haohua hitting the daily limit [14] - Key stock performances included: - Dinglong Co.: +17.33% [15] - Six Nations Chemical: +10.07% [15] - The rise in methanol prices has been noted, with a significant increase of 72% since the outbreak of the Middle East conflict [16] - Bromine prices also surged, with a 52.78% increase compared to the beginning of the month [17] - The chemical industry is currently experiencing a large-scale destocking cycle, with expectations for a recovery in profitability as demand rebounds post-conflict [17]

Market Overview - A-shares opened lower but rose throughout the day, with major indices collectively increasing and turning positive [1] - The A-share market saw a surge in the non-ferrous metals, pharmaceutical biology, and basic chemicals sectors, leading to a wave of stocks hitting the daily limit [1][4] A-share Performance - By the end of the morning session, the Shanghai Composite Index rose by 0.26%, the Shenzhen Component Index by 0.93%, the ChiNext Index by 0.83%, and the Sci-Tech Innovation Index by 1.08% [4] - The non-ferrous metals sector led the gains with an increase of 2.6%, with multiple stocks hitting the daily limit, including Shenzhen New Star, Haixing Co., Rongjie Co., Yunnan Zhiye, and others [4][5] Pharmaceutical Sector - The pharmaceutical biology sector also performed well, with stocks like Hotgen Biotech, Yinuo Si, Shutaishen, and Huana Pharmaceutical seeing increases of over 10% [6][7] - Notable stocks in this sector included Hotgen Biotech with a rise of 14.70% and Shutaishen with an increase of 11.50% [7] Basic Chemicals Sector - The basic chemicals sector experienced significant gains, with stocks such as Keta Biotech and Shandong Haihua hitting the daily limit [8][9] - Keta Biotech saw a remarkable increase of 19.99%, while other stocks in the sector also posted gains around 10% [9] New Listings - A new stock, Puan Medical, was listed today, with its price surging over 170% at one point during the session [11][12] - Puan Medical specializes in diabetes care and related medical devices, with a projected increase in global insulin pen needle sales from 8.81 billion units in 2022 to 9.97 billion units by 2024 [12] Hong Kong Market - The Hong Kong market experienced narrow fluctuations, with China Longgong's stock surging over 20% during the morning session [13][15] - China Longgong reported a total revenue of RMB 11.215 billion for the year 2025, reflecting a year-on-year growth of 9.81%, with significant contributions from electric loaders and export products [15][16]

北京舜景生物医药技术有限公司 2024 年度财务报表审计报告 目 录 | 一、审计报告 | | 页 1—3 | | --- | --- | --- | | 二、审计报告附件 | | | | 1、 | 资产负债表 | 页 1—2 | | 2、 | 利润表 | 3 页 | | 3、 | 现金流量表 | 页 4 | | 4、 | 所有者权益变动表 | 5—6 页 | | 5、 | 财务报表附注 | 页 7—42 | 审 计 报 告 [2025]京会兴审字第 00230009 号 北京舜景生物医药技术有限公司全体股东： 一、审计意见 我们审计了北京舜景生物医药技术有限公司（以下简称"舜景生物"）的财 务报表，包括 2024 年 12 月 31 日的资产负债表，2024 年度的利润表、现金流量 表、所有者权益变动表以及相关财务报表附注。 我们认为，后附的财务报表在所有重大方面按照企业会计准则的规定编制， 公允反映了舜景生物 2024 年 12 月 31 日的财务状况以及 2024 年度的经营成果和 现金流量。 舜景生物管理层（以下简称"管理层"）负责按照企业会计准则的规定编制 财务报表，使其实现公允反映，并设计、执行和 ...

Investment Rating - The report maintains an "Increase" rating for the pharmaceutical and biotechnology sector [5]. Core Insights - The pharmaceutical and biotechnology sector experienced a slight decline of 0.22% this week, ranking 13th out of 31 sectors, and a year-to-date decline of 0.13%, ranking 23rd out of 31 sectors [8]. - A significant milestone was achieved with the approval of the first invasive brain-computer interface medical device by the National Medical Products Administration, marking a transition from technical exploration to clinical application [9]. - The launch of a national major science and technology project for innovative drugs targeting Alzheimer's disease indicates a strong governmental focus on drug development for critical diseases in the central nervous system [10]. Summary by Sections 1. Market Observation - The pharmaceutical and biotechnology sector has seen a decline of 0.22% this week and 0.13% year-to-date, indicating a market correction [8]. 2. Industry Dynamics 2.1 Brain-Computer Interface Milestone - The approval of the brain-computer interface system by the National Medical Products Administration represents the first global launch of an invasive medical device, aimed at assisting patients with cervical spinal cord injuries [9]. 2.2 Alzheimer's Disease Drug Development - The initiation of a national project for innovative Alzheimer's drugs highlights the importance of addressing urgent clinical needs in the central nervous system, potentially leading to technological breakthroughs and industrial advancements [10]. 3. Company Dynamics 3.1 Kanglong Chemical - Kanglong Chemical announced a strategic partnership with Eli Lilly for the commercialization of the oral GLP-1 drug Orforglipron, receiving a $200 million investment to enhance its technical capabilities [11]. 3.2 Laika Pharmaceutical - Laika Pharmaceutical successfully completed Phase I SAD studies for LAE102 in the U.S. and is planning Phase II trials, indicating accelerated global development [12]. 3.3 Hotgen Biotech - Hotgen Biotech's innovative drug SGC001 has completed its first administration in Phase II clinical trials for heart attack treatment, marking significant progress in its development [13]. 3.4 East China Pharmaceutical - East China Pharmaceutical's HDM2024 has received FDA approval for Phase I clinical trials, targeting advanced solid tumors, enhancing its competitive position in oncology [14]. 3.5 Kelun Pharmaceutical - Kelun Pharmaceutical's SKB575 has been approved for clinical trials targeting atopic dermatitis, showcasing its potential as a best-in-class treatment with a long dosing interval [15]. 4. Areas of Focus - The report suggests focusing on the innovative drug supply chain and the brain-computer interface sector for potential investment opportunities [16].

Investment Rating - The report maintains an "Increase" rating for the pharmaceutical and biotechnology sector [5]. Core Insights - The pharmaceutical and biotechnology sector experienced a slight decline of 0.22% this week, ranking 13th out of 31 sectors, and a year-to-date decline of 0.13%, ranking 23rd out of 31 sectors [8]. - A significant milestone was achieved with the approval of the first invasive brain-computer interface medical device by the National Medical Products Administration, marking a transition from technical exploration to clinical application, which opens commercial opportunities in the field of neuroregulation and implantable medical devices [9]. - The launch of a national major scientific research project for innovative drugs targeting Alzheimer's disease indicates the government's commitment to addressing urgent clinical needs in the central nervous system, potentially accelerating technological breakthroughs and industrialization in this area [10]. Company Dynamics - Kanglong Chemical announced a strategic partnership with Eli Lilly for the commercialization of the oral GLP-1 drug Orforglipron, receiving a $200 million investment to enhance its technical capabilities [11]. - Laika Pharmaceuticals successfully completed Phase I SAD studies for LAE102 in the U.S. and is planning Phase II trials, indicating progress in global development [12]. - Hotgen Biotech's innovative drug SGC001 has completed its first administration in Phase II clinical trials for treating acute myocardial infarction, marking a significant advancement in this therapeutic area [13]. - East China Pharmaceutical's self-developed dual-target ADC drug HDM2024 has received FDA approval for Phase I clinical trials in the U.S., enhancing its competitiveness in the oncology field [14]. - Kelun Biotech's SKB575 has been approved for clinical trials targeting atopic dermatitis, showcasing its potential as a best-in-class treatment with a long dosing interval [15]. Suggested Focus Areas - The report suggests focusing on the innovative drug supply chain and the brain-computer interface sector for potential investment opportunities [16].

证券代码：688068 证券简称：热景生物 公告编号：2026-009 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。 北京热景生物技术股份有限公司 关于自愿披露子公司 SGC001 创新药Ⅱ期临床研究完 成首例受试者入组给药的公告 北京热景生物技术股份有限公司董事会 1 批准，2025 年 3 月获得美国食品药品监督管理局（FDA）授予的快速通道认证 （Fast Track Designation）；并于 2025 年 10 月 23 日完成了 Ib 期临床试验并取 得初步的统计分析。另外，舜景医药 SGC001 项目也荣获北京市科技计划项目支 持，被北京市科委列为医药创新品种及平台培育项目。 三、风险提示 根据普遍的行业特点，创新药具有高科技、高风险的特点，从临床前研究到 获批上市期间周期长，过程中易受到技术、审批、政策等多方面因素的影响，药 品的上市存在不确定性，短期内对公司业绩不会造成重大影响。公司将持续关注 子公司的相关研发进度，并根据研发进展情况履行信息披露义务。敬请广大投资 者谨慎决策，注意防范投资风险。 特 ...

重要内容提示： | 回购方案首次披露日 | 2025/11/12 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 年 2025 11 | 11 | 月 | 12 | 日~2026 | 年 | 月 | 11 | 日 | | 预计回购金额 | 10,000万元~20,000万元 | | | | | | | | | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 □用于转换公司可转债 | | | | | | | | | | 累计已回购股数 | □为维护公司价值及股东权益 904,054股 | | | | | | | | | | 累计已回购股数占总股本比例 | 0.98% | | | | | | | | | | 累计已回购金额 | 149,955,134.73元 | | | | | | | | | | 实际回购价格区间 | 145.59元/股~176.79元/股 | | | | | | | | | 证券代码：688068 证券简称：热景生物 公告编号：2026-00 ...