证券代码：688091 证券简称：上海谊众 公告编号：2026-006 重要内容提示： 回购股份的基本情况 为维护公司价值与股东权益，上海谊众药业股份有限公司（以下简称"公 司"）于 2024 年 8 月 26 日——2024 年 12 月 25 日累计回购公司股份 1,274,307 股（详情请参阅公司于 2024 年 12 月 27 日披露的《关于股份回购实施结果暨股 份变动的公告》（2024-050））。本次回购的股份将于回购实施结果暨股份变动公 告披露十二个月后采用集中竞价的交易方式出售，并在前述公告披露后的三年内 完成出售。若公司未能在上述期限内完成出售，未实施出售部分股份将履行相关 程序予以注销。 出售计划的进展情况 截至上月末出售情况：截至 2026 年 3 月 31 日，公司尚未出售已回购股份。 1 上海谊众药业股份有限公司 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。 公司于 2025 年 12 月 29 日召开了第二届董事会第十四次会议，审 ...

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 为维护公司价值与股东权益，上海谊众药业股份有限公司（以下简称"公 司"）于 2024 年 8 月 26 日——2024 年 12 月 25 日累计回购公司股份 1,274,307 股（详情请参阅公司于 2024 年 12 月 27 日披露的《关于股份回购实施结果暨股 份变动的公告》（2024-050））。本次回购的股份将于回购实施结果暨股份变动公 告披露十二个月后采用集中竞价的交易方式出售，并在前述公告披露后的三年内 完成出售。若公司未能在上述期限内完成出售，未实施出售部分股份将履行相关 程序予以注销。 证券代码：688091 证券简称：上海谊众 公告编号：2026-005 上海谊众药业股份有限公司 关于出售已回购股份的进展公告 出售计划的进展情况 公司于 2025 年 12 月 29 日召开了第二届董事会第十四次会议，审议通过了 《关于以集中竞价交易方式出售部分已回购股份计划的议案》，同意公司自披露 出售回购股份计划之日起 1 ...

Group 1: Company Performance - 24 innovative drug companies reported their 2025 performance, with 19 achieving positive net profit, representing 79.17% [1] - BeiGene achieved its first annual profit in 2025 with a net profit of 1.422 billion yuan, and total revenue of 38.205 billion yuan, a 40.4% increase year-on-year [1] - Microbio achieved a total revenue of 910 million yuan in 2025, a 38.24% increase, and a net profit of 51.0757 million yuan, marking a turnaround [2] - Shanghai Yizhong reported a revenue of 317 million yuan, an 82.72% increase, and a net profit of 64.132 million yuan, a significant 819.42% increase [2] Group 2: Industry Trends - The overall performance of the innovative drug industry is improving, but significant differentiation exists, with many companies still in a loss-reduction phase [1] - The continuous release of policy dividends is a key driver for performance growth, with nearly 80% of innovative drugs entering the medical insurance directory within two years [2] - The global healthcare industry saw a financing amount of 63.882 billion USD in 2025, a 10.13% increase, while domestic financing in the healthcare sector reached 73.777 billion yuan, a 39.05% increase [3] - The number of new drug IND applications in China reached 2,175 in 2025, an 8.8% increase [3]

Core Insights - The company Shanghai Yizhong reported a net profit attributable to shareholders of 64.13 million yuan for the year 2025, representing a year-on-year increase of 819.42%. Total operating revenue reached 317 million yuan, up 82.72% year-on-year. The growth is primarily attributed to the inclusion of the core product, paclitaxel polymer micelles for injection, in the national medical insurance directory in 2025, which has enhanced market access and increased the number of patients using the drug [1]. Financial Performance - The company's Q3 2025 report indicated a dual growth in revenue and net profit, with a year-on-year increase in net profit attributable to shareholders exceeding 7700% [2]. Stock Performance - Over the past seven trading days (from February 6 to February 13, 2026), Shanghai Yizhong's stock exhibited significant volatility. On February 9, the stock surged by 7.63%, closing at 54.00 yuan. On February 11, the trading volume reached 240 million yuan, with financing purchases amounting to 20.38 million yuan and a financing balance of 563 million yuan. As of February 13, the latest closing price was 53.31 yuan, reflecting a cumulative increase of 6.26% over five days, although there was a 20-day decline of 11.64%. The highest turnover rate during this period was 2.95% on February 9, indicating active trading [3]. Recent Events - On February 10, 2026, the national organization for drug procurement opened bids for the first to eighth batches, involving 316 commonly used drugs across 26 treatment areas, including anti-tumor medications, which may indirectly impact the supply and demand dynamics in the pharmaceutical industry. Additionally, Shanghai Yizhong announced a shareholder reduction plan (not exceeding 3% of shares) on January 30, with no new developments disclosed in the past week, warranting attention to future implementation [4].

Investment Rating - The industry rating is neutral, indicating that the overall return is expected to be between -5% and 5% relative to the CSI 300 index over the next six months [9]. Core Insights - The pharmaceutical sector experienced a decline of 2.42% on February 2, 2025, underperforming the CSI 300 index by 0.29 percentage points, ranking 16th among 31 sub-industries [4]. - Key performers in the sector included hospitals (-0.99%), pharmaceutical distribution (-1.63%), and blood products (-1.65%), while other biopharmaceuticals (-3.69%) and offline pharmacies (-3.09%) lagged behind [4]. - Elevar has submitted a New Drug Application (NDA) to the FDA for Lirafugratinib, a selective oral FGFR2 inhibitor, showing a 46.5% objective response rate (ORR) in clinical trials for cholangiocarcinoma patients [5]. - The disease control rate for Lirafugratinib reached 96.5%, with a median progression-free survival (PFS) of 11.3 months and a median overall survival (OS) of 22.8 months [5]. - Jichuan Pharmaceutical has signed an exclusive commercialization agreement for a nasal spray in Greater China, with a payment of up to 100 million RMB [5]. - Heng Rui Pharmaceutical received FDA acceptance for its BLA submission for a combination therapy for liver cancer [6]. - Shanghai Yizhong reported a projected revenue of 317 million RMB for 2025, reflecting an 82.72% year-on-year growth [6]. Sub-industry Ratings - Chemical pharmaceuticals: No rating - Traditional Chinese medicine: No rating - Biopharmaceuticals II: Neutral - Other pharmaceuticals: Neutral [3].

Core Viewpoint - The company Shanghai Yizhong expects to achieve a revenue of 317 million yuan in 2025, representing an increase of 82.72%, and a net profit attributable to shareholders of 64.13 million yuan, reflecting a growth of 819.42% [1] Group 1: Revenue and Profit Growth - The projected revenue growth is primarily driven by the inclusion of the core product, paclitaxel micelles, in the national medical insurance catalog [1] - The expected net profit growth is significantly influenced by the company's ongoing investment in research and development, which is advancing multiple innovative drug projects [1] Group 2: Cost Management and Efficiency - The company has implemented refined management of sales and administrative expenses, achieving reasonable spending and effective control [1] - This approach has allowed the company to maintain substantial research and development investments while simultaneously reducing costs and increasing efficiency, leading to significant year-on-year growth in revenue and operating profit [1]

Group 1 - Chinese government emphasizes the implementation of policies to promote high-quality development and new growth points [2][39] - Local governments are urged to enhance service awareness and improve administrative efficiency to address business concerns [2][39] - The "14th Five-Year Plan" should focus on practical and systematic planning, avoiding overly ambitious projects [2][39] Group 2 - Recent incidents of Chinese enterprise personnel being detained in the US have raised concerns about the impact on business exchanges [3][40] - The Chinese government has expressed strong opposition to the US's actions and called for the cessation of such practices [3][40] Group 3 - The South Korean stock market experienced a significant drop, triggering temporary trading halts [5][42] - The KOSPI index fell by 5.26%, closing at 4949.67 points, after previously reaching a historic high [6][42][7] - The Indonesian stock market also faced turbulence, with the Jakarta Composite Index dropping by 4.88% [8][43] Group 4 - The domestic futures market saw a rare plunge, with 13 commodity futures hitting the limit down due to panic selling [9][44] - The decline was attributed to a combination of factors, including excessive leverage and market structure vulnerabilities [9][44] Group 5 - The National Investment Silver LOF fund announced a significant adjustment in its valuation method for silver futures contracts [10][45] - This adjustment aims to better reflect international market price fluctuations [10][45] Group 6 - The gaming industry reported record revenue per user, with several A-share companies expecting positive performance [17][52] - The humanoid robot industry is accelerating, with institutions actively researching companies with promising earnings [17][52] Group 7 - Shanghai Yizhong reported a net profit increase of 819.42% for 2025, driven by the inclusion of its core product in the national medical insurance directory [19][53] - The company plans to continue investing in R&D for innovative drugs [19][53] Group 8 - XGIMI Technology and Espressif Systems announced share buyback plans, with total amounts not less than 50 million yuan [20][54] - ST Kaiyuan may face delisting risk due to negative net assets projected for 2025 [21][55]

Core Viewpoint - Shanghai Yizhong reported a significant increase in net profit for 2025, driven by the inclusion of its core product in the national medical insurance directory and increased R&D investments [2]. Group 1: Company Performance - Shanghai Yizhong's total revenue for 2025 reached approximately 317.08 million yuan, a year-on-year increase of 82.72%, with net profit soaring by 819.42% to about 64.13 million yuan [2]. - Chipway Technology achieved a revenue of 394 million yuan in 2025, reflecting an 11.52% increase, while net profit decreased by 4.91% to 10.6 million yuan [5]. Group 2: Share Buybacks - XGIMI Technology plans to repurchase shares with a total fund of no less than 50 million yuan and no more than 100 million yuan, at a price not exceeding 159.51 yuan per share [3]. - Lexin Technology also intends to repurchase shares with a similar financial commitment, with a maximum price of 170.29 yuan per share [3]. Group 3: Risk Warnings - ST Kaiyuan anticipates a potential delisting risk warning due to expected negative net assets for 2025 [4]. Group 4: Important Investments - Aorui Technology's subsidiary plans to invest approximately 145 million yuan in computing power equipment [7]. - ZTE Corporation intends to invest 117 million yuan in a fund focused on new generation information technology and advanced manufacturing [10]. - Dawn Holdings is set to acquire a plastic and engineering plastic compound business in Vietnam for approximately 15.74 million USD [11]. Group 5: New Projects and Developments - Guangdong Electric Power A announced the successful commissioning of its Maoming Bohua Power Plant, with a total investment of 7.48 billion yuan and an expected annual power generation of 8.6 billion kWh [12]. - Ugreen Technology has submitted an application for H-share listing on the Hong Kong Stock Exchange [12].

Buyback Announcements - GoerTek has repurchased 1.14% of its shares, spending 1.108 billion yuan, with a total of 40.5481 million shares repurchased at prices ranging from 20.35 to 34.09 yuan per share [18] - Midea Group has repurchased 0.35% of its shares, spending 1.998 billion yuan, with a total of 26.9437 million shares repurchased at prices ranging from 69.50 to 80.44 yuan per share [17] - SF Holding has repurchased approximately 48.2887 million A-shares, with a total amount of about 1.899 billion yuan [1] Stock Trading Anomalies - Maoye Commercial has experienced a significant stock price increase, with a cumulative deviation of 20% over two trading days, indicating potential market overheating and high speculation risk [2] - Jinhui Liquor reported a cumulative stock price deviation of over 20% over three trading days, confirming normal production and no undisclosed major information [3] - Yangtze Optical Fiber has noted that the global optical fiber and cable market environment is normal, with new products related to data centers representing a small proportion of total demand [4] Profit Distribution Plans - Ningbo Fuda plans to distribute a cash dividend of 0.7 yuan per 10 shares, totaling 101 million yuan, which accounts for 59.85% of the net profit attributable to shareholders for the first three quarters of 2025 [5] Corporate Investments - Southwest Securities has received approval from the China Securities Regulatory Commission to issue bonds totaling up to 14 billion yuan [6] - Guoneng Rixin plans to increase its stake in Sanas Zhihui to 31% through an investment of 17.625 million yuan, enhancing its capabilities in new energy asset operation services [7] Production Updates - Weiyuan Co. has successfully launched a 250,000 tons/year electrolyte solvent project, enhancing its production capacity for various chemical products [8] Financial Performance - Lianyun Technology reported a net profit of 142 million yuan for 2025, a year-on-year increase of 20.36%, driven by growth in storage product demand [12] - Shanghai Yizhong reported a net profit of 64.132 million yuan for 2025, a significant increase of 819.42%, attributed to the inclusion of its core product in the national medical insurance directory [13]

Core Insights - Shanghai Yizhong (688091) reported a significant increase in revenue and profit for 2025, with total revenue reaching 317 million yuan, representing a year-on-year growth of 82.72% [1] - The net profit attributable to shareholders was 64.132 million yuan, showing an impressive year-on-year increase of 819.42% [1] - The company's core product, injectable paclitaxel polymer micelles, was officially included in the national medical insurance directory in 2025, which greatly enhanced market access and the number of patients using the product, driving revenue and profit growth for the year [1]