北京热景生物技术股份有限公司 2025 年第三季度报告 证券代码：688068 证券简称：热景生物 北京热景生物技术股份有限公司 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 / 14 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 105,795,807.88 -22.98 309,709,122.21 -19.80 利润总额 -20,917,096.86 -500.63 -112,139,044.10 196.26 归属于上市公 ...

交易概述：北京热景生物技术股份有限公司（以下简称"公司"或"热 景生物"）参股公司北京舜景生物医药技术有限公司（以下简称"舜景医药"） 拟通过新设立有限合伙企业（员工持股平台）对舜景医药进行增资并实施股权激 励，拟增资总金额为 4,000 万元，认购 400 万新增注册资本，差额部分计入资本 公积。公司拟放弃本次增资的优先认购权。 证券代码：688068 证券简称：热景生物 公告编号：2025-067 北京热景生物技术股份有限公司 关于参股公司增资扩股实施股权激励暨关联交易 的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 公司控股股东、实际控制人、董事长、总经理林长青担任舜景医药董事 长。舜景医药拟设立的员工持股平台拟由林长青担任普通合伙人。公司作为舜景 医药的股东，放弃对舜景医药本次增资的优先认购权，构成关联交易，但不构成 《上市公司重大资产重组管理办法》规定的重大资产重组。至本次关联交易为止， 过去 12 个月内上市公司与同一关联人之间进行的交易达到 3,000 万元以上，且 占上市公司最近一期 ...

格隆汇10月23日丨热景生物(688068.SH)公布，公司前三季度实现营业收入3.1亿元，同比下降19.80%； 归属于上市公司股东的净利润-1.09亿元；基本每股收益-1.23元。 ...

Core Insights - The report highlights the performance of the Changcheng Pharmaceutical Industry Selected Mixed A Fund, which has shown significant growth in equity scale, particularly in the technology sector, despite recent market adjustments [1][3]. Performance Analysis - As of October 22, 2025, the fund's unit net value is 1.7983, with a cumulative return of 79.83% since its establishment on October 22, 2024, and a year-to-date increase of 88.34% [1][3]. - The fund has experienced a notable decline of -8.81% over the past month and -14.29% over the last three months, indicating challenges faced by the pharmaceutical sector, especially in the innovative drug field during the third quarter [3][4]. Portfolio Composition - The top ten holdings of the fund have a combined market value of 1.313 billion, heavily concentrated in the innovative drug sector, which differs from the asset allocation logic of technology funds [4]. - The top three holdings include Innovent Biologics, 3SBio, and Hotgen Biotech, with a clear focus on biotechnology and innovative pharmaceutical companies [5]. Investment Strategy - The fund manager, Liang Furui, noted that the A/H market saw multiple sectors rise, primarily driven by technology and precious metals, with an average daily trading volume in the A-share market exceeding 2 trillion [5]. - Despite the strong performance of technology sectors, innovative drugs have entered a correction phase due to significant gains in the first half of the year and negative impacts from TMT-focused capital outflows [5][6]. - Liang Furui emphasized that many innovative drug stocks are now highly cost-effective, suggesting a shift towards selecting individual stocks with genuine competitive advantages as the sector moves into an "individual alpha phase" [6]. Future Outlook - The focus will be on increasing the weight of stocks with global competitiveness and scarcity in core pipelines, balancing long-term potential, drug certainty, and international market viability [6].

Group 1 - The core viewpoint of the news is that 热景生物 (Hotgen Biotech) has experienced a decline in stock price, dropping 5.11% to 163.36 CNY per share, with a total market capitalization of 15.145 billion CNY [1] - The company has seen a cumulative decline of 5.55% over the past three days, indicating a downward trend in its stock performance [1] - Hotgen Biotech specializes in the research, development, production, and sales of in vitro diagnostic reagents and instruments, with its main revenue sources being testing reagents (70.87%), testing instruments (19.79%), and others [1] Group 2 - 华富基金 (Huafu Fund) has a significant holding in Hotgen Biotech, with its fund 华富健康文娱灵活配置混合A (001563) reducing its stake by 18,000 shares in the second quarter, now holding 32,000 shares, which constitutes 6.06% of the fund's net value [2] - The fund has incurred a floating loss of approximately 281,600 CNY today and a total floating loss of 323,800 CNY during the three-day decline [2] - 华富健康文娱灵活配置混合A has shown a year-to-date return of 43.71% and a one-year return of 31.37%, ranking 1265 out of 8159 and 2142 out of 8030 respectively [2]

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [1]. Core Insights - The company is focusing on innovative treatments in the cardiovascular field, particularly the potential of SGC001 as a first-in-class (FIC) drug for acute myocardial infarction (AMI) [7][31]. - The company has a diversified pipeline with multiple subsidiaries engaged in innovative drug development, including SGC001, which has received IND approvals in both China and the U.S. [7][12]. - The in vitro diagnostics (IVD) business provides a stable revenue base, with a comprehensive product layout and leading-edge technology platforms [7][12]. Summary by Sections 1. Company Overview - The company, established in 2005 and listed on the Shanghai Stock Exchange in 2019, has been actively developing innovative diagnostic technologies and drug pipelines through its subsidiaries [12][15]. 2. Innovative Drug Development - SGC001 is highlighted as a significant product for AMI treatment, with promising clinical results and a strong market need for new therapies [7][31]. - The company is expanding its drug pipeline to include various therapeutic areas, including oncology and neurodegenerative diseases, leveraging its subsidiaries for differentiated drug development [7][31]. 3. IVD Business - The IVD segment is crucial for the company's revenue, with ongoing development in various diagnostic technologies and health initiatives aimed at improving public health [7][12]. - The company has established several core technology platforms that support its IVD product offerings, enhancing its competitive position in the market [7][12]. 4. Financial Projections - The company is projected to achieve revenues of 5.42 billion, 5.97 billion, and 6.67 billion yuan from 2025 to 2027, with a gradual return to profitability expected by 2027 [1][7]. - The report anticipates that the combined value of the IVD business and innovative drug pipeline could reach approximately 48 billion yuan [7][12].

Core Viewpoint - Beijing Hotgen Biotech Co., Ltd. announced that its affiliate, ShunJing Biopharmaceutical Technology Co., Ltd., has achieved positive preliminary results in the Phase Ib clinical trial of the innovative drug SGC001, which is aimed at treating acute myocardial infarction [1][2]. Clinical Progress - The Phase Ib clinical trial of SGC001 has been completed, showing good safety and tolerability in patients with anterior ST-segment elevation myocardial infarction (STEMI) [1]. - No grade 3 or higher adverse events were reported across low (300 mg), medium (600 mg), and high (900 mg) dosage groups, indicating a strong safety profile [1][2]. - Pharmacokinetic analysis revealed that the median Tmax for SGC001 ranged from 1.30 to 4.07 hours, with a half-life (t1/2) of approximately 8 to 11 days [2]. Preliminary Efficacy Results - Initial efficacy results indicated that SGC001 at 600 mg and 900 mg doses showed a trend towards myocardial protection compared to the placebo group, with median reductions in myocardial infarction area percentages of 20.5% and 38.1%, respectively [2]. - The time required for high-sensitivity cardiac troponin I (hsTnI) and high-sensitivity C-reactive protein (hs-CRP) to return to normal levels was shorter in the treatment groups compared to the placebo [2]. Drug Overview - SGC001 is a monoclonal antibody developed for emergency treatment of acute myocardial infarction, specifically targeting anterior STEMI [3]. - The drug has received clinical trial approvals from both the U.S. FDA and China's National Medical Products Administration (NMPA), and it was granted Fast Track Designation by the FDA in March 2025 [3]. - The project has also received support from Beijing's Science and Technology Program and is recognized as an innovative pharmaceutical product [3].

Core Insights - The article highlights the significant performance of certain funds in the third quarter, particularly the "Yongying Technology Smart Selection" fund, which achieved a remarkable 194% increase, making it the top-performing fund of the year [1][2] - The report indicates a substantial growth in fund size, with "Yongying Technology Smart Selection" increasing from 1.166 billion to 11.521 billion yuan, nearly a ninefold increase in a single quarter [2] - The article also discusses the ongoing optimism in the innovative pharmaceutical sector, with funds like "Great Wall Pharmaceutical Industry Selection" showing over 100% growth [1][4] Fund Performance - "Yongying Technology Smart Selection" fund's top holdings include leading optical module stocks such as "Yizhongtian" (Xinyi Sheng, 300502), Zhongji Xuchuang (300308), and Tianfu Communication (300394), which significantly contributed to its net value [2] - The fund's share count surged from 700 million to 3.466 billion, resulting in a profit of 4.715 billion yuan for investors in the third quarter [2] - The "Great Wall Pharmaceutical Industry Selection" fund also saw its size grow from 1.132 billion to 1.790 billion yuan, with a share increase from 678 million to 932 million [5] Sector Insights - The global cloud computing industry remains a focal point, with AI model valuations increasing and a notable 100% quarter-on-quarter growth in token numbers [3] - The innovative pharmaceutical sector continues to attract attention, with funds maintaining high stock positions despite recent market adjustments [6][8] - The article suggests that the technology and pharmaceutical sectors may still have upward potential, although careful stock selection is advised [8] Future Outlook - The article indicates that the technology sector, particularly AI and cloud computing, is expected to see increased investment, with potential for new opportunities in the industry chain [9] - The innovative pharmaceutical sector is projected to strengthen its global competitiveness, supported by upcoming industry conferences and positive data trends [8] - The article emphasizes the importance of not solely relying on past performance to predict future outcomes in the cloud computing sector, highlighting the need for caution [9]

Core Insights - The company, 热景生物, announced that its affiliate, 北京舜景生物医药技术有限公司, reported positive preliminary results from the Phase Ib clinical trial of its innovative drug SGC001 injection [2] Group 1 - The innovative drug SGC001 is being developed by 北京舜景生物医药技术有限公司, which is a subsidiary of 热景生物 [2] - The Phase Ib clinical trial has yielded encouraging initial results, indicating potential for further development [2]

Group 1 - Sanwang Communication plans to repurchase shares worth 20-40 million yuan for employee stock incentive plans [1] - Ankrui reported a net profit of 192 million yuan for the first three quarters, a year-on-year increase of 21.31% [1] - Taishan Petroleum's net profit for the first three quarters reached 113 million yuan, up 112.32% year-on-year [1] - Zhejiang Xiantong achieved a net profit of 152 million yuan for the first three quarters, a 17.4% increase year-on-year [1] Group 2 - Xuanji Information reported a net loss of 173 million yuan for the first three quarters [1] - Mailande's net profit slightly decreased by 0.07% to 96 million yuan for the first three quarters [1] - Tengjing Technology's subsidiary received a sales order worth 87.61 million yuan [1] Group 3 - Hotgen Biotech's affiliate achieved positive results in Phase Ib clinical trials for the innovative drug SGC001 [1] - Zhongyan Dadi won a bid for a sports project in Beijing worth 74.04 million yuan [1] - Henghui Security's net profit decreased by 12.85% to 81.98 million yuan for the first three quarters [1] Group 4 - Xiongdi Technology's net profit increased by 71.16% to 18.38 million yuan for the first three quarters [1] - Meilixin reported a net loss of 215 million yuan for the first three quarters [1] - Haichen Pharmaceutical's net profit grew by 16.22% to 32.68 million yuan for the first three quarters [1] Group 5 - Qiaoyuan Co. reported a net profit of 181 million yuan for the first three quarters, a 40.54% increase year-on-year [1] - Fuda Co. achieved a net profit of 221 million yuan for the first three quarters, up 83.27% year-on-year [1] - Xianggang Technology's net profit surged by 186.19% to 95.47 million yuan for the first three quarters [1] Group 6 - ST Nanchuan received a restriction order from the court due to a financial dispute [1] - Changyou Technology announced the dismissal of two vice presidents [1] - Haoyuan Automotive received a project confirmation for an automatic parking system worth 576 million yuan [1] Group 7 - Jiuzhou Biotech obtained a medical device registration certificate for a diagnostic kit [1] - Shihua Machinery signed an investment intention letter for a subsidiary's capital increase [1] - Zhuhai Mian Group plans to transfer 100% equity of Gree Real Estate [1] Group 8 - Dalian Heavy Industry reported a net profit of 490 million yuan for the first three quarters, a 23.97% increase year-on-year [1] - Haimeng Data reported a net loss of 75.43 million yuan for the first three quarters [1] - Feilong Co. achieved a net profit of 287 million yuan for the first three quarters, a 7.54% increase year-on-year [1] Group 9 - Kaipu Testing reported a net profit of 57.84 million yuan for the first three quarters, a 3.34% increase year-on-year [1] - Ganyue Express signed a strategic cooperation agreement with a major energy company [1] - Tuoshan Heavy Industry's controlling shareholder plans to reduce its stake by 2.82% [1] Group 10 - Yiatong's shareholder plans to reduce its stake by 1% [1] - Weishi Electronics reported a net profit of 24.29 million yuan for the first three quarters, a 22.59% decrease year-on-year [1] - Shensi Electronics won a bid for a data space construction project worth 161 million yuan [1] Group 11 - Xiechuang Data plans to purchase server assets worth up to 4 billion yuan [1] - Shandong Express's controlling shareholder plans to transfer 7% of its shares [1] - ST Huapeng's subsidiary received a government subsidy of 4.65 million yuan [1] Group 12 - Jieqiang Equipment's shareholder plans to reduce its stake by 1% [1] - China Jushi reported a net profit of 2.568 billion yuan for the first three quarters, a 67.51% increase year-on-year [1] - ST Fanli reported a net loss of 44.78 million yuan for the first three quarters [1] Group 13 - Xiyu Tourism reported a net profit of 98.58 million yuan for the first three quarters, a 14.51% decrease year-on-year [1] - Abison reported a net profit of 185 million yuan for the first three quarters, a 57.33% increase year-on-year [1] - Huayan Precision reported a net profit of 70.76 million yuan for the first three quarters, a 31.07% increase year-on-year [1] Group 14 - Jiangling Motors reported a net profit of 74.9 million yuan for the first three quarters, a 35.76% decrease year-on-year [1]