证券研究报告 医药生物 | 生物制品 非金融|公司专题报告 hyzqdatemark 2025 年 07 月 17 日 证券分析师 刘闯 SAC：S1350524030002 liuchuang@huayuanstock.com 市场表现： | 基本数据 | | | | | 2025 | 年 | 07 | | 日 | 16 | 月 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 收盘价（元） | | | | | | | | | 49.30 | | | | 一 年 内 低 | 最 | 高 | / | 最 | | | | | | | | | （元） | | | | | | | | 63.99/13.67 | | | | | 总市值（百万元） | | | | | | | | | 9,921.98 | | | | 流通市值（百万元） | | | | | | | | | 9,921.98 | | | | 总股本（百万股） | | | | | | | | | 201.26 | | | | 资产负债率（%） | | ...

【导读】医药板块狂掀涨停潮，牛股上纬新材连续7天20cm涨停 中国基金报记者 晨曦 | 最高：2252.45 | 今开:2228.52 | 成交量: 7698.06万手 | 换手:1.46% | | --- | --- | --- | --- | | 最低：2228.52 | 昨收:2230.19 | 成交额：1592.83亿 | 量比：1.82 | | 52周最高: 2576.22 | 上涨:638 | 振幅: 1.07% | 平盘:46 | | 52周最低：1512.17 | 下跌:258 | 总市值：14.20万亿 | | | | | | 分时 五日 日K 周K 月K 季K 年K 120分 60分 30分 15分 5分 1分 | | | | 区间统计 全屏显示 | | --- | --- | --- | --- | --- | --- | --- | --- | | 最新:2252.18 +21.99 +0.99% | | | | | | | | | 2252.42 | | | | | | | 1.00% | | 2246.86 | | | | | | | 0.75% | | 2241.31 | | | ...

A股今日（7月16日）维持窄幅震荡走势，市场热点较为散乱；港股尾盘跳水，两大股指双双翻绿。 具体来看，沪指盘中围绕3500点窄幅震荡整理，深证成指、创业板指早盘一度冲高，尾盘回落翻绿。截 至收盘，沪指微跌0.03%报3503.78点，深证成指跌0.22%报10720.81点，创业板指跌0.22%报2230.19点， 北证50指数涨0.27%，沪深北三市合计成交14619亿元，较此前一日减少超1700亿元。 场内近3300股飘红，金融股集体走低，钢铁、有色、煤炭板块疲弱；汽车产业链股强势拉升，嵘泰股 份、福达股份、浙江荣泰等涨停；创新药概念再度活跃，广生堂、我武生物涨约16%，丽珠集团、联环 药业等涨停；人形机器人概念热度不减，上纬新材斩获6连板。此外，今日登陆沪市主板的华电新能收 盘上涨125.8%，盘中一度涨超200%，市值一度突破3000亿元。 港股方面，今日复牌的威雅利收盘大涨288%，盘中一度暴涨超900%。资料显示，威雅利是香港老牌电 子元器件分销商，公司是A股上市公司雅创电子的控股子公司。去年10月份，雅创电子通过全资子公司 香港台信，完成对威雅利的全面要约收购。 人形机器人概念火爆 人形机器人概 ...

异常波动 | https://www.cninfo.com.cn/new/disclosure/detail?stockCode=300225&announcementId=122405 | 300225 | 金力泰 | 9008&orgId=9900019128&announcementTime=2025 | -07-02 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | https://www.cninfo.com.cn/new/disclosure/detail?stockCode=002630&announcementId=122401 | 002630 | ST华西 | 4239&orgId=9900021630&announcementTime=2025 | -06-28 | | | | | https://www.cninfo.com.cn/new/disclosure/detail?stockCode=603377&announcementId=122407 | 603377 | ST东时 | 2217&orgId=9900 ...

A股动物疫苗板块震荡拉升，生物股份涨停封板涨停，科兴制药、罗牛山、中牧股份、普莱柯等跟涨。 ...

Summary of Key Points Core Viewpoint - The financing balance of the Sci-Tech Innovation Board (STAR Market) increased by 828 million yuan compared to the previous trading day, indicating a growing interest in this market segment [1]. Financing Balance - As of July 14, the total margin financing balance on the STAR Market reached 160.08 billion yuan, with a financing balance of 159.50 billion yuan and a securities lending balance of 5.87 billion yuan [1]. - The stock with the highest financing balance is SMIC, with a latest balance of 7.15 billion yuan, followed by Cambrian and Haiguang Information with balances of 3.48 billion yuan and 3.42 billion yuan respectively [1]. - A total of 334 stocks saw an increase in financing balance, while 251 stocks experienced a decrease [1]. - Notable increases in financing balance include Borui Data (59.61%), Kexing Pharmaceutical (33.99%), and Yahon Pharmaceutical (27.88%) [1]. Securities Lending Balance - The highest securities lending balance is also held by SMIC, with a balance of 23 million yuan, followed by Haiguang Information and Chipone Technology with balances of 16 million yuan and 15 million yuan respectively [2]. - A total of 142 stocks saw an increase in securities lending balance, while 130 stocks experienced a decrease [2]. - Significant increases in securities lending balance were observed in KQ Bio (140.94%), Tiande Yu (72.90%), and Diaowei (62.20%) [2]. Performance Overview - The performance of stocks with notable financing balance increases includes Borui Data (7.23%), Kexing Pharmaceutical (1.76%), and Yahon Pharmaceutical (17.32%) [2]. - The performance of stocks with notable securities lending balance increases includes ZhiJiang Bio (20.00%) and others [3]. Additional Data - The detailed financing and securities lending balances for various stocks are provided, showing a comprehensive view of the market dynamics [4].

New Stock Issuance - Shanda Electric (Stock Code: 301609) issued at a price of 14.66[1] - Jiyuan Group (Stock Code: 732262) issued at a price of 10.88[1] Market Alerts - Jichuan Pharmaceutical (Stock Code: 600566) has a tender offer period from June 18, 2025, to July 17, 2025[1] - The last trading day for Tuisan Jinguang (Stock Code: 600190) is July 14, 2025, with 4 trading days remaining[1] - The last trading day for Tuisan Jinjing (Stock Code: 900952) is also July 14, 2025, with 4 trading days remaining[1] Abnormal Fluctuations - *ST Zitian (Stock Code: 300280) reported severe abnormal fluctuations on July 10, 2025[1] - *ST Yushun (Stock Code: 002289) reported abnormal fluctuations on July 11, 2025[1] Other Notable Announcements - Longyuan Green Energy (Stock Code: 603185) announced on July 11, 2025[1] - Kedi Pharmaceutical (Stock Code: 000590) announced on July 14, 2025[1]

近日，科兴制药(688136)发表了自主研发的I类创新药项目GB08(一款Fc融合蛋白长效生长激素， LAGH)I期临床试验成果。研究结果显示GB08安全性、耐受性良好，与中国已批准上市的长效、短效生 长激素比较，药效动力学(PD)指标可比，且该临床结果也为后续GB08的儿科剂量选择提供了科学依 据。 生长激素作为儿童生长激素缺乏症针对性的疗法，其疗效和安全性已得到了市场多年验证。目前已上市 的生长激素主要有三大类别，分别是需每日注射的短效粉针和短效水针，以及目前已获上市的仅一款长 效生长激素(聚乙二醇重组人生长激素注射液)。中国生长激素领域主要以本土企业为主，因此，在长效 生长激素市场，竞争格局较为良好，市场空间广阔。根据Frost&Sullivan的数据，中国儿童生长激素缺 乏症在2018-2030年的市场规模预计按照15.7%递增，到2030年国内相关市场规模将增长至48亿美元。据 米内网统计，2022年中国公立医疗机构终端重组人生长激素(rhGH)销售规模约为67亿元。 围绕在内分泌领域，科兴制药不仅布局了创新药管线，在引进产品方面，科兴制药根据海外市场需求及 商业化前景，已陆续引进了利拉鲁肽、司美格 ...

| 新股发行及今日交易提示 | 2025/7/11 | 星期五 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 2025/7/11 | 内地市场权益提示 | 类别 | 证券代码 | 证券简称 | 权益日期 | 最新公告链接 | | | https://www.cninfo.com.cn/new/disclosure/detail?stockCode=600566&announcementId=122408 | 要约收购 | 600566 | 济川药业 | 要约申报期：2025年6月18日至2025年7月17日 | 3581&orgId=gssh0600566&announcementTime=2025 | -07-05 | | | https://www.cninfo.com.cn/new/disclosure/detail?stockCode=300208&announcementId=122413 | 300208 | 中程退 | 距最后交易日剩余 | 5个交易日 | 0674&orgId=9900018895&announc ...

Core Points - The announcement details the results of the first vesting period of the 2024 restricted stock incentive plan for the company, with 1,615,000 shares set to be listed on July 16, 2025 [1][8] - The stock is part of an equity incentive program aimed at motivating employees and aligning their interests with those of shareholders [1][2] Summary by Sections Decision Process and Disclosure - The company’s board and supervisory committee have approved the relevant proposals regarding the 2024 restricted stock incentive plan, ensuring compliance with regulatory requirements [2][3] - The supervisory committee verified the list of incentive recipients and issued related opinions [2] Basic Information on Stock Vesting - A total of 127 individuals are eligible for the stock vesting, with 1,615,000 shares being made available for trading [5][8] - The stock originates from a directed issuance of A-share common stock to the incentive recipients [5] Listing and Capital Changes - The total number of shares outstanding will increase from 199,642,250 to 201,257,250 shares following the vesting [7] - The company has received a total of RMB 19,250,800 in subscription payments from the incentive recipients, with the capital increase properly registered [8] Financial Impact - The vesting of 1,615,000 shares represents approximately 0.81% of the total shares before the vesting, and it is expected to dilute earnings per share without significantly impacting the company's financial condition [8]