证券日报网讯12月15日，皓元医药在互动平台回答投资者提问时表示，公司始终坚持"产业化、全球 化、品牌化"的发展战略，持续推动三大业务引擎稳健增长。ADC业务的收入目前占后端创新药CDMO 的收入比重较大，公司积极推动ADC业务的发展。目前公司在ADC小分子领域已经形成了较强竞争优 势，随着今年3月份重庆抗体偶联CDMO基地顺利投入运营，标志着上海、马鞍山、重庆"三位一体"的 XDC全方位服务体系已经形成，公司已发展为国内稀缺的一站式ADCCDMO企业，构建了覆盖Payload- Linker开发、抗体发现、偶联工艺优化至商业化生产的全链条闭环服务能力。公司正积极有序推进重庆 皓元的市场推广和项目推进进度，加快新建产能快速爬坡，目前新签订单快速增长中。公司已成立了战 略投资部，不排除会通过收并购和合作的方式加大公司在国际市场的开拓。公司暂无应披露而未披露的 信息，重大投资与并购计划请以相关公告为准。 ...

（编辑 丛可心） 证券日报网讯 12月15日，皓元医药在互动平台回答投资者提问时表示，公司工具化合物业务处于优势 地位并具备较强的国际影响力。在此基础之上，公司重组蛋白等生物试剂业务目前共享工具化合物的成 熟销售平台与渠道资源，以实现高效的资源整合与市场协同。在财务披露层面，该部分业务与工具化合 物业务合并，作为"工具化合物和生化试剂"板块进行业绩呈现。公司持续加大在生物试剂领域的研发与 布局，截至2025年第三季度末，已累计开发包括重组蛋白、抗体、酶等在内的各类生物大分子产品超过 23000种，产品矩阵不断丰富。 ...

| 证券代码：688131 | 证券简称：皓元医药 | 公告编号：2025-129 | | --- | --- | --- | | 转债代码：118051 | 转债简称：皓元转债 | | 上海皓元医药股份有限公司关于不调整可转换公司 债券"皓元转债"转股价格的公告 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： 经中国证券监督管理委员会《关于同意上海皓元医药股份有限公司向不特定 对象发行可转换公司债券注册的批复》（证监许可[2024]1289 号）同意，上海皓 元医药股份有限公司（以下简称"公司"）向不特定对象发行 82,235.00 万元的 可转换公司债券，期限 6 年，每张面值为人民币 100 元，发行数量为 822,350 手 （8,223,500 张），于 2024 年 12 月 19 日在上海证券交易所挂牌交易，债券简称 "皓元转债"，债券代码"118051"，初始转股价格为人民币 40.73 元/股，经历 次调整，截至本次转股价格调整前，"皓元转债"的转股价格为 40.47 元/股。转 股期间为 ...

关于 2023 年限制性股票激励计划第二类限制性股票 第二个归属期第二次归属结果暨股份上市公告 | 证券代码：688131 | 证券简称：皓元医药 | 公告编号：2025-128 | | --- | --- | --- | | 转债代码：118051 | 转债简称：皓元转债 | | 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。 上海皓元医药股份有限公司 重要内容提示： 本次股票上市类型为股权激励股份；股票认购方式为网下，上市股数为 3,290股，占归属前公司股本总额的 0.0016%。 本次股票上市流通总数为3,290股。 本次股票上市流通日期为2025 年 12 月 19 日。 根据中国证监会、上海证券交易所、中国证券登记结算有限责任公司上海分 公司有关业务规则的规定，上海皓元医药股份有限公司（以下简称"公司"）2023 年限制性股票激励计划第二类限制性股票第二个归属期第二次归属的股份于 2025 年 12 月 12 日完成归属登记手续，已收到中国证券登记结算有限责任公司上海分 公司出具的《证券变更登记证明》。现将有关 ...

Investment Rating - The report maintains an "Outperform" rating for several companies in the innovative drug and medical device industry, including Jiangsu Heng Rui Medicine, Hansoh Pharmaceutical Group, 3SBio, Sichuan Kelun Pharmaceutical, and Jiangsu Nhwa Pharmaceutical [5][6][25]. Core Insights - The report emphasizes the high prosperity in innovative drugs and continues to recommend companies with innovative pipelines that are entering a volume increase phase, maintaining "Outperform" ratings for various Biopharma/Biotech companies [5][25]. - The National Healthcare Security Administration announced the 2025 insurance drug list, which added 114 drugs, including 50 innovative drugs, further validating insurance support for innovation and indicating promising domestic demand [26][27]. Summary by Sections 1. Continuous Recommendation of Innovative Drugs and Industry Chain - The report highlights the ongoing recommendation of innovative drugs and the industry chain, with a focus on companies expected to see a revaluation due to their innovative pipelines [5][25]. - Specific companies mentioned include WuXi AppTec, WuXi XDC Cayman, Hangzhou Tigermed Consulting, and leading medical equipment companies like Beijing Chunlizhengda Medical Instruments and Lepu Medical, all rated "Outperform" [5][25]. 2. Performance of A-Shares Pharmaceutical Sector - In the second week of December 2025, the A-Shares pharmaceutical sector underperformed the market, with the SW Pharma and Biotech index falling by 1.0% compared to a 0.3% decline in the SHCOMP [8][27]. - The report notes that the premium level of the pharmaceutical sector relative to all A-Shares is at a normal level, with a current relative premium rate of 69.8% [16][27]. 3. Performance of Hong Kong and U.S. Pharmaceutical Sectors - The Hong Kong stock pharmaceutical sector underperformed the market, with the Hang Seng Healthcare index falling by 2.3%, while the U.S. stock pharmaceutical sector outperformed, with the S&P 500 Healthcare Select Sector Index rising by 0.4% [28][27].

Investment Rating - The report maintains an "Overweight" rating for the innovative pharmaceutical and medical device industry chain [3][5][6]. Core Insights - The report emphasizes the continuous recommendation of innovative drugs and medical devices, highlighting the high growth potential in the innovative pharmaceutical sector. It maintains "Overweight" ratings for companies such as Heng Rui Medicine, Hansoh Pharmaceutical, and others, indicating a potential for value re-evaluation [3][5]. - The report notes that the National Medical Insurance Administration has officially announced the 2025 medical insurance drug catalog, which includes 114 new drugs, 50 of which are first-class innovative drugs. This adjustment is seen as a validation of the support for innovation in the healthcare sector [3][5]. - The A-share pharmaceutical sector underperformed the broader market in the second week of December 2025, with the SW Pharmaceutical Biotechnology index declining by 1.0% compared to a 0.3% drop in the Shanghai Composite Index [7][18]. Summary by Sections Section 1: Continuous Recommendation of Innovative Drugs and Medical Devices - The report highlights the sustained recommendation of innovative drugs and medical devices, with a focus on companies that are expected to see performance growth and value re-evaluation [5][6]. Section 2: A-share Pharmaceutical Sector Performance - In the second week of December 2025, the A-share pharmaceutical sector's performance was weaker than the overall market, ranking 16th among the primary industries [7][18]. Section 3: Hong Kong and US Market Performance - The report indicates that the Hong Kong pharmaceutical sector also underperformed, while the US pharmaceutical sector showed stronger performance compared to the broader market [18].

Core Insights - The pharmaceutical industry is experiencing a surge in innovative products, with clear domestic demand and significant potential for international expansion [4][14][25] - Investment opportunities are concentrated in innovative drugs and their supply chains, with a notable performance from CRO/CMO and chemical pharmaceuticals [9][15][17] - The report emphasizes the importance of innovation as the primary solution to industry challenges, driven by stable demand and supportive policies [26][32][41] Industry Overview - The pharmaceutical sector has faced revenue declines, with a 0.9% year-on-year decrease in revenue for the first three quarters of 2025, and net profit down by 2.2% [15][16] - The innovative drug sector has outperformed, with CRO/CMO and chemical pharmaceuticals showing net profit growth of 31.0% and 16.6% respectively [17][18] - The overall market is characterized by low fund holdings and historical valuation bottoms, indicating high investment value [20][25] Demand and Payment Dynamics - The demand for healthcare services is steadily increasing, with a projected 5% growth in total medical visits and hospital admissions in 2024 [26][28] - The aging population is expected to drive long-term demand, with 220 million people aged 65 and above by 2050 [28][30] - The medical insurance fund's income growth has outpaced expenditure growth, leading to a significant increase in fund reserves [32][36] Financing and Market Trends - The IPO market for healthcare has rebounded, with 28 IPOs in the first three quarters of 2025, a 100% increase from the previous year [42][43] - License-out transactions have surged, with transaction numbers increasing by 41% and total amounts reaching $92 billion, indicating a robust market for innovative drug licensing [48][50] - The number of IND applications and new clinical trials for innovative drugs has been steadily increasing, with a notable rise in NDA approvals [53][57] Technological Advancements - The report highlights the emergence of new technologies such as ADC and small nucleic acids, with domestic companies leading in these areas [60] - The focus on dual antibodies and GLP-1 drugs is expected to drive significant growth, with multiple development directions emerging [9][60] - The report notes that domestic companies are increasingly recognized for their innovative capabilities, particularly in the ADC space [60]

两融数据显示，该股最新融资余额为6.44亿元，近5日增加2870.90万元，增幅为4.66%。（数据宝） 12月12日皓元医药大宗交易一览 | 成交量 | 成交金额 | 成交价格 | 相对当日收盘折溢 | 买方营 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | | （万股） | （万元） | （元） | 价（%） | 业部 | | | 5.04 | 370.44 | 73.50 | 0.00 | 机构专 | 瑞银证券有限责任公司上海花园石 | | | | | | 用 | 桥路证券营业部 | （文章来源：证券时报网） 皓元医药12月12日大宗交易平台出现一笔成交，成交量5.04万股，成交金额370.44万元，大宗交易成交 价为73.50元。该笔交易的买方营业部为机构专用，卖方营业部为瑞银证券有限责任公司上海花园石桥 路证券营业部。 进一步统计，近3个月内该股累计发生2笔大宗交易，合计成交金额为2.79亿元。 证券时报·数据宝统计显示，皓元医药今日收盘价为73.50元，下跌0.46%，日换手率为2.88%，成交额为 4.52亿元，全天主力资金净流出146.44万元， ...

证券日报网讯 12月12日晚间，皓元医药发布公告称，截至2025年12月11日，公司及子公司对外担保总 额为人民币73，242.19万元（含本次担保），全部为公司对全资或控股子公司提供的担保总额，占公司 2024年度经审计净资产及总资产的比例分别为25.45%、13.30%。此外，公司及子公司不存在逾期担保 和涉及诉讼担保的情形。 （文章来源：证券日报） ...

格隆汇12月12日丨皓元医药(688131.SH)公布，公司拟使用不超过人民币50,000.00万元（包含本数）的 闲置募集资金进行现金管理。使用期限自董事会审议通过之日起12个月内有效。在前述额度及期限范围 内，资金可以循环滚动使用。 ...