Investment Rating - The report maintains an "Overweight" rating for the in vitro diagnostics (IVD) industry [6][54]. Core Viewpoints - The IVD market is expected to benefit from a recent policy initiative aimed at enhancing the adaptability of supply and demand for consumer goods, with a focus on high-end medical devices and efficient IVD equipment [5][53]. - The domestic biochemical diagnostics sector has largely overcome reliance on foreign technologies, indicating a completed process of localization [6][54]. - The report emphasizes the shift towards home health management, moving from a treatment-centered to a prevention-centered approach, which is expected to create a trillion-yuan integrated market [5][53]. Summary by Sections Industry Performance - The pharmaceutical and biological sector rose by 2.67%, with the IVD sector increasing by 2.63% during the week [2][12]. - The IVD sector's current PE ratio is 39.84X, with a PB ratio of 1.85X, reflecting a slight increase from the previous week [4][33]. Company Performance - Notable performers in the medical services sector include Haobio (+14.3%), Shuoshi Biological (+13.6%), and Innotech (+13.3%) [3][29]. - Underperformers include *ST Dongyang (-7.2%) and New Industry (-5.7%) [3][29]. Investment Recommendations - The report suggests focusing on companies in the IVD sector that cater to home consumption scenarios, such as Shengxiang Biological and Sannuo Biological [5][54]. - It highlights the importance of monitoring the growth potential in immunodiagnostics, particularly in chemiluminescence and molecular diagnostics like PCR [6][54].

Core Viewpoint - The company, as the first IVD listed enterprise on the Sci-Tech Innovation Board, is transitioning from in vitro diagnostics to biopharmaceuticals, aligning with the national bio-manufacturing strategy and focusing on long-term growth through global expansion and innovation in the biopharmaceutical sector [2][4]. Group 1: Industry Trends and Company Strategy - Biomanufacturing is recognized as a strategic emerging industry for the next decade, with biopharmaceuticals being a key battleground due to high technical barriers [4]. - The company's expansion from in vitro diagnostics to biopharmaceuticals is seen as a natural extension of its core competencies in biotechnology, emphasizing the interconnectedness of diagnostic and therapeutic technologies [4][5]. - The company has made significant investments in basic research, resulting in publications in top-tier journals and the establishment of a solid R&D framework [4]. Group 2: Innovation and Product Development - The company adheres to the "uniqueness and firstness" principle in its innovation pipeline, focusing on unmet clinical needs and developing products such as the world's first antibody drug for myocardial infarction [8][10]. - The company has developed advanced technologies in liver cancer early screening, which are widely used in high-risk populations and included in expert consensus guidelines [8]. - The company aims to achieve the goal of "Chinese scientists discovering first, Chinese enterprises transforming first, and Chinese hospitals conducting clinical trials first" in its drug development efforts [8]. Group 3: Global Market Expansion - The company has initiated overseas expansion since 2019, achieving over 600 foreign certifications and establishing a presence in Southeast Asia, South Asia, the Middle East, and Latin America [10]. - The company positions its products as high-quality and cost-effective alternatives to those from developed countries, aiming to provide better healthcare options for developing nations [10]. - The company emphasizes the importance of international certifications and understanding local market needs as key factors for successful overseas operations [10].

Market Overview - The medical device sector experienced a decline of 0.38% on November 26, with Kangwei Century leading the drop [1] - The Shanghai Composite Index closed at 3864.18, down 0.15%, while the Shenzhen Component Index closed at 12907.83, up 1.02% [1] Top Performers - Haobor (688656) saw a significant increase of 9.38%, closing at 201.80 with a trading volume of 17,200 lots [1] - Shuoshi Biology (6668889) rose by 4.04%, closing at 69.82 with a trading volume of 21,500 lots [1] - Lexin Medical (300562) increased by 3.88%, closing at 14.20 with a trading volume of 107,400 lots [1] Underperformers - Kangwei Century (688426) fell by 10.78%, closing at 27.80 with a trading volume of 33,000 lots [2] - Boxin Biology (920504) decreased by 5.98%, closing at 22.97 with a trading volume of 8,514 lots [2] - Zhengchuan Co. (603976) dropped by 5.25%, closing at 21.30 with a trading volume of 33,800 lots [2] Capital Flow - The medical device sector saw a net outflow of 371 million yuan from institutional investors, while retail investors contributed a net inflow of 43.54 million yuan [2][3] - The top net inflows from institutional investors were seen in Lexin Medical (300562) with a net outflow of 33.13 million yuan [3] - The highest net inflow from retail investors was in Yuyue Medical (002223) with a net inflow of 24.16 million yuan [3]

（文章来源：证券日报） 证券日报网讯 11月24日晚间，热景生物发布公告称，近日，北京热景生物技术股份有限公司（以下简 称"公司"）获得了由中华人民共和国工业和信息化部（以下简称"工信部"）颁发的国家级专精特新"小 巨人"企业证书，入选工信部第七批国家级专精特新"小巨人"企业。 ...

Group 1 - Huafeng Co., Ltd. announced a stock suspension due to a potential change in control after signing a share transfer intention agreement [1] - Keshida plans to reduce its shareholding by up to 424,000 shares, representing 0.07% of its total share capital [1] - Jinqilin intends to distribute a cash dividend of 0.10 yuan per share, totaling 19.61 million yuan [1] Group 2 - Rejingshi Biotech has repurchased 904,100 shares, accounting for 0.98% of its total share capital, with a total expenditure of 150 million yuan [2] - Yishitong has repurchased 1,236,500 shares, representing 0.619% of its total share capital, with a total expenditure of approximately 33.49 million yuan [2] Group 3 - Hanjia Design announced the release of a detention on its subsidiary's chairman, allowing him to resume duties [4] - Qingmu Technology plans to acquire 65.83% of Vitalis Pharma AS for 300 million Norwegian Krone (approximately 212 million yuan) [4] - Anda Intelligent's shareholder plans to reduce its stake by up to 2.74% [4] Group 4 - Wansheng Intelligent is a candidate for a project with a pre-bid amount of approximately 42.99 million yuan, representing 4.56% of its audited revenue for 2024 [4] - Yipin Hong received a drug registration certificate for a medication used to treat Alzheimer's symptoms [4] Group 5 - *ST Sansheng received a total of 254 million yuan from restructuring investors [4] - Haichuang Pharmaceutical received approval for clinical trials of HP518 tablets for advanced prostate cancer treatment [4] Group 6 - Ningbo Huaxiang's subsidiary plans to invest 5 million yuan in a venture capital fund focusing on intelligent industries [4] - Petty Co. plans to repurchase shares worth 50 to 70 million yuan [4] Group 7 - Tongji Technology's subsidiary won a construction project with a bid price of 866 million yuan [4] - Prolo Pharmaceutical received a drug registration certificate for a generic drug [4] Group 8 - Jingyan Technology plans to use up to 1.6 billion yuan of idle funds for financial management [4] - Furan De received government subsidies totaling 34.65 million yuan [4] Group 9 - David Medical's subsidiary's medical device registration has been accepted [4] - Jusaylong plans to increase its subsidiary's capital by 170 million yuan through debt-to-equity conversion [4] Group 10 - Heng Rui Pharmaceutical's application for a drug license has been accepted by the National Medical Products Administration [4] - Lege Co. plans to increase its stake in the company by 40 to 80 million yuan [4] Group 11 - New Beiyang's subsidiary won a project with the Bank of Communications [4] - Jiangxi Changyun plans to publicly transfer land use rights and buildings with a starting price of 7.79 million yuan [4] Group 12 - Shenqi Pharmaceutical's subsidiary has paid approximately 16.67 million yuan in tax and penalties [4] - Panjiang Co. plans to invest 1.334 billion yuan in a power plant project [4] Group 13 - Fashilong's vice president resigned for personal reasons [4] - Chunxue Food received government subsidies of 3.79 million yuan [4] Group 14 - China Galaxy completed the repayment of a short-term financing bond totaling 3.025 billion yuan [4] - Jiuzhou Pharmaceutical received approval for a chemical raw material drug [4] Group 15 - Longqi Technology's subsidiary plans to invest 30 million yuan in a venture capital fund [4]

关于公司被认定为国家级专精特新"小巨人"企业的 自愿披露公告 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。 一、基本情况 近日，北京热景生物技术股份有限公司（以下简称"公司"）获得了由中华 人民共和国工业和信息化部（以下简称"工信部"）颁发的国家级专精特新"小 巨人"企业证书，入选工信部第七批国家级专精特新"小巨人"企业。 证券代码：688068 证券简称：热景生物 公告编号：2025-083 北京热景生物技术股份有限公司 2025 年 11 月 25 日 2 二、对公司的影响 国家级专精特新"小巨人"企业是工信部为贯彻落实中共中央办公厅、国务 院办公厅《关于促进中小企业健康发展的指导意见》等有关要求，经各省级主管 部门通过组织报送、专家评审、社会公示等流程而评选产生。专精特新"小巨人" 企业通常位于产业基础核心领域、产业链关键环节，创新能力突出、掌握核心技 术、细分市场占有率高、质量效益优，是优质中小企业的核心力量。 公司此次被认定为国家级专精特新"小巨人"企业，是对公司科研技术、创 新能力、发展前景、产品质量、行业地 ...

热景生物公告称，公司获工信部颁发的国家级专精特新"小巨人"企业证书，入选第七批该类企业。专精 特新"小巨人"企业经多流程评选产生，是优质中小企业核心力量。此次认定是对公司综合实力的认可， 利于提升品牌知名度与核心竞争力，对整体业务发展有积极影响。不过，该认定不会对当期经营业绩产 生重大影响。 ...

智通财经APP讯，热景生物(688068.SH)发布公告，近日，公司获得了由中华人民共和国工业和信息化 部(简称"工信部")颁发的国家级专精特新"小巨人"企业证书，入选工信部第七批国家级专精特新"小巨 人"企业。 公司此次被认定为国家级专精特新"小巨人"企业，是对公司科研技术、创新能力、发展前景、产品质 量、行业地位等综合实力的充分认可，有利于提升公司的品牌知名度与核心竞争力，对公司整体业务发 展产生积极影响。 ...

公司此次被认定为国家级专精特新"小巨人"企业，是对公司科研技术、创新能力、发展前景、产品质 量、行业地位等综合实力的充分认可，有利于提升公司的品牌知名度与核心竞争力，对公司整体业务发 展产生积极影响。 热景生物(688068.SH)发布公告，近日，公司获得了由中华人民共和国工业和信息化部(简称"工信部")颁 发的国家级专精特新"小巨人"企业证书，入选工信部第七批国家级专精特新"小巨人"企业。 ...

Group 1 - The company has approved a share repurchase plan using its own funds, with a total repurchase amount between RMB 100 million and RMB 200 million, and a maximum repurchase price of RMB 244 per share [1] - As of the announcement date, the company has repurchased a total of 904,054 shares, accounting for 0.98% of the total share capital, with the highest transaction price at RMB 176.79 per share and the lowest at RMB 145.59 per share, totaling RMB 149,955,134.73 spent [2] - The share repurchase progress complies with legal regulations and the company's repurchase plan [3] Group 2 - The company will strictly follow relevant regulations and guidelines during the repurchase period and will make repurchase decisions based on market conditions, ensuring timely information disclosure regarding the progress of the share repurchase [4]