Core Viewpoint - The stock of Kexing Pharmaceutical has experienced fluctuations, with a recent decline of 2.06%, while the company shows a year-to-date increase of 11.34% in stock price, indicating mixed market sentiment towards its performance and potential [1]. Financial Performance - For the period from January to September 2025, Kexing Pharmaceutical achieved a revenue of 1.148 billion yuan, representing a year-on-year growth of 10.54% [2]. - The net profit attributable to shareholders for the same period was 111 million yuan, showing a significant year-on-year increase of 547.70% [2]. Shareholder and Market Activity - As of September 30, 2025, the number of shareholders for Kexing Pharmaceutical increased by 25.03% to 11,800, while the average circulating shares per person decreased by 19.37% to 17,102 shares [2]. - The stock has seen a net outflow of 8.37 million yuan from major funds, with significant buying and selling activity from large orders [1]. Dividend Distribution - Kexing Pharmaceutical has distributed a total of 51.54 million yuan in dividends since its A-share listing, with 15.78 million yuan distributed over the past three years [3]. Institutional Holdings - As of September 30, 2025, notable institutional shareholders include E Fund Medical Healthcare Industry Mixed A, which is the second-largest shareholder with 2.0621 million shares, a decrease of 1.6069 million shares from the previous period [3]. - Other significant changes in institutional holdings include an increase in shares held by Fortune Tianhui Growth Mixed A/B and a decrease in shares held by Fortune Precision Medical Flexible Allocation Mixed A [3].

港股开盘，恒生科技指数涨1.93%，恒生指数涨1.32%。个股方面，兆易创新涨45.06%，达力普控股涨 13.35%，荣昌生物涨8.84%，MINIMAX-WP涨6.78%，金山云涨5.86%；时代天使跌4.96%，康师傅控股 跌4.18%，中集安瑞科跌3.72%，康方生物跌3.41%。 本文源自：金融界AI电报 ...

内容概况：促红细胞生成素（简称EPO），又被称作为促红素，是一种由165个氨基酸组成的糖蛋白激 素，主要由肾脏（成人）或肝脏（婴幼儿）分泌，其核心功能是促进红细胞的生成、分化和成熟，从而 调节机体的氧供需平衡。促红素药物主要用于治疗以下疾病：1）肾性贫血：慢性肾病患者因肾脏EPO 分泌不足导致贫血，外源性补充重组人EPO（rHuEPO）是标准疗法。2）肿瘤或化疗相关贫血：放化疗 抑制骨髓造血功能，EPO可改善贫血症状。3）早产儿贫血：早产儿EPO生成不足，可通过EPO治疗减 少输血需求。4）围手术期红细胞动员：用于择期手术患者，以减少异体输血风险。促红素为治疗肾性 贫血的常用药物。慢性肾脏病（CKD）患者的肾脏功能减退，会让促红素生成不足、铁代谢障碍，同 时还有营养不良、急慢性失血等其他多重因素，都会导致患者贫血。慢性肾脏病被誉为"沉默的杀手"， CKD已成为全球性的公共卫生挑战。2023年中国CKD患病人数达到1.56亿，较1990年的7542万大幅增 长。数据显示，2022-2024年期间，中国促红素药物市场规模呈下滑态势，2024年市场规模为30亿元， 2025年行业恢复增长态势，市场规模为31亿元。我 ...

Group 1 - The animal vaccine sector experienced a decline of 0.04%, ranking among the top losers in the concept sector, with notable declines from companies such as Hengtong Co., BioShares, and Kanghua Bio [1] - Among the animal vaccine stocks, 9 companies saw price increases, with Dongfang Bio, KQ Bio, and Haili Bio leading the gains at 2.23%, 0.87%, and 0.77% respectively [1] - The sector faced a net outflow of 212 million yuan from main funds, with 14 stocks experiencing outflows, and 7 stocks seeing outflows exceeding 10 million yuan, led by Roniu Mountain with a net outflow of 82.38 million yuan [2] Group 2 - The top stocks with net outflows included BioShares, Hengtong Co., and Kanghua Bio, with net outflows of 41.91 million yuan, 41.77 million yuan, and 24.74 million yuan respectively [2] - Conversely, the stocks with the highest net inflows were Dabeinong, Haili Bio, and Guoyao Modern, with net inflows of 32.76 million yuan, 6.20 million yuan, and 3.24 million yuan respectively [2] - The trading data indicated that Roniu Mountain had a trading rate of 8.05% and a price drop of 1.05%, while Dongfang Bio had a trading rate of 1.46% and a price increase of 2.23% [3]

Group 1 - The company plans to conduct foreign exchange derivative trading in 2026 to mitigate risks associated with foreign exchange rate and interest rate fluctuations, with a total trading limit not exceeding 75 million RMB or equivalent foreign currency [4][10]. - The trading will primarily utilize the company's own funds and will not involve raised funds [5][6]. - The company will employ simple and transparent foreign exchange derivative instruments, such as forward contracts and options, with a maximum duration of 12 months [6][8]. Group 2 - The company has approved the use of up to 150 million RMB of temporarily idle raised funds for cash management, focusing on safe and liquid investment products with a maturity of no more than 12 months [21][24]. - The investment aims to enhance the efficiency of raised fund usage while ensuring that it does not affect the ongoing projects funded by these raised funds [23][38]. - The company will strictly control risks associated with these investments and will not use the funds for speculative purposes [35][50]. Group 3 - The company plans to provide a maximum guarantee of 320 million RMB for its subsidiaries' bank loans in 2026, which will enhance financing efficiency [53][60]. - The guarantee is based on the current business situation and is expected to be within a controllable risk range [54][61]. - The company has no overdue guarantees or litigation-related guarantees, ensuring a stable financial position [62]. Group 4 - The company anticipates daily related transactions with specific affiliated companies, with a total expected amount not exceeding 18.5 million RMB for 2026 [67][70]. - These transactions are necessary for the company's normal business operations and are conducted at market prices to ensure fairness [75][76]. - The company has established contracts with related parties to ensure compliance and protect shareholder interests [73][74]. Group 5 - The company intends to apply for a financing limit of up to 300 million RMB from banks and financial institutions in 2026, using its own assets as collateral [78][79]. - This financing is aimed at meeting the operational funding needs of the company and its subsidiaries without adversely affecting business operations [80].

格隆汇1月4日丨科兴制药(688136.SH)公布，截至2025年12月31日，公司通过上海证券交易所交易系统 以集中竞价交易方式已累计回购公司股份131.93万股，占公司目前总股本比例为0.66%，回购成交的最 高价为43.50元/股，最低价为23.14元/股，支付的资金总额为人民币4,924.18万元(不含交易佣金等费 用)。 ...

Policy Developments - The State Council approved the revised draft of the Drug Administration Law Implementation Regulations, emphasizing the importance of timely revisions to drug management laws for ensuring public safety and promoting the healthy development of the pharmaceutical industry [1] Industry Initiatives - Hainan Province aims to develop over six distinctive traditional Chinese medicine health tourism routes by the end of 2028, with a target of cultivating over 1 million mu of medicinal herb planting and breeding areas, and achieving a 15% growth in the overall output value of traditional Chinese medicine [2] Drug and Medical Device Approvals - Xingqi Eye Medicine announced the approval of its atropine sulfate eye drops for children aged 6 to 12, with new product specifications added [1] Capital Market Activities - Sinovac Biotech has repurchased approximately 1.32 million shares, accounting for 0.66% of its total share capital, with a total expenditure of approximately RMB 49.24 million [3] - Dongcheng Pharmaceutical plans to repurchase shares worth between RMB 100 million and RMB 200 million for employee stock ownership plans, with a maximum repurchase price of RMB 18.00 per share [4] - Haizheng Pharmaceutical's major shareholder intends to transfer 6.06% of the company's shares through a public solicitation, pending approval from relevant authorities [5] Strategic Collaborations - Sinopharm Holdings and Betta Pharmaceuticals have signed a strategic cooperation agreement to enhance collaboration and create a new efficient pharmaceutical supply chain ecosystem [6] Personnel Changes - The independent director of Nanxin Pharmaceutical, Shen Yunqiao, has resigned for personal reasons, and will continue to fulfill his duties until a new independent director is elected [7]

证券日报网讯 1月4日，科兴制药发布公告称，截至2025年12月31日，公司通过上海证券交易所交易系 统以集中竞价交易方式已累计回购公司股份1，319，333股，占公司目前总股本比例为0.66%，回购成 交的最高价为43.50元/股，最低价为23.14元/股，支付的资金总额为人民币4，924.18万元（不含交易佣 金等费用）。 （编辑 王江浩） ...

证券代码：688136 证券简称：科兴制药 公告编号：2026-008 重要内容提示： 科兴生物制药股份有限公司 关于以集中竞价交易方式回购公司股份的进展公告 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、准确性和完整性承担法律责任。 公司 2025 年 5 月 8 日召开第二届董事会第二十四次会议审议通过了《关于调 整回购股份价格上限的议案》，将回购股份价格上限调整为人民币 46.83 元/股（含）。 具体内容详见公司于2025年5月9日披露在上海证券交易所网站（www.sse.com.cn） 的《关于调整回购股份价格上限的公告》（公告编号：2025-024）。 鉴于公司 2024 年年度权益分派已实施完毕，公司以集中竞价交易方式回购股 份价格上限由不超过人民币46.83元/股（含）调整为不超过人民币46.75元/股（含）。 具 体 内 容 详 见 公 司 于 2025 年 6 月 21 日 披 露 在 上 海 证 券 交 易 所 网 站 （www.sse.com.cn）的《关于 2024 年年度权益分派实施后调整回购价格上限的公 告》（公告编号：20 ...

1月4日，科兴制药公众号发文称，智利政府2026年度流感疫苗全球招标结果近日揭晓，科兴再度成为独 家供应商，签约订单超800万剂。 首批疫苗将于2026年1月底前运抵智利，以满足智利即将到来的流感季防护需求。科兴连续两年独家承 担该国流感疫苗供应任务，标志着科兴产品质量与国际履约能力持续获得智利公共卫生系统的认可。 （科兴制药公众号） (编辑：杨燕 林辰)关键字： 医疗 公众号提到，2025年，由科兴独家供应的流感疫苗在智利累计接种超过830万剂，成功助力该国实现了 约80%的目标人群接种率，为本次续约奠定了扎实基础。 ...