格隆汇8月15日丨科兴制药(688136.SH)公布，公司于2025年8月14日召开第二届董事会第二十八次会议 和第二届监事会第二十四次会议，审议通过了《关于使用部分募集资金向全资子公司提供无息借款以实 施募投项目的议案》，同意公司根据募集资金投资项目(以下简称"募投项目")的建设安排及实际资金需 求情况，在不超过募投项目"研发中心升级建设项目"总投入募集资金金额的情况下，公司本次拟使用募 集资金向全资子公司深圳科兴药业有限公司(以下简称"深圳科兴药业")提供总额不超过2,000万元的无息 借款，专项用于推进募投项目的建设和实施，并授权公司管理层负责无息借款手续办理以及后续的管理 工作。借款期限为自实际借款之日起3年，根据项目实际情况，授权到期后经总经理审批可续借或提前 偿还。 ...

Core Viewpoint - The company, Kexing Pharmaceutical (688136.SH), is responding to national policies on technological innovation by increasing its investment in R&D and optimizing its debt structure through the issuance of technology innovation bonds worth up to 800 million RMB [1] Group 1 - The company plans to apply for registration to issue technology innovation bonds in the interbank market [1] - The maximum amount of the bond issuance is set at 800 million RMB, including the principal amount [1] - This initiative aims to broaden financing channels and enhance the company's financial structure [1]

Market Overview - The recombinant protein sector experienced a decline of 1.14%, ranking among the top losers in the concept sector as of the market close on August 12 [1] - Notable stocks within this sector that saw significant declines include HaiTe Bio, Kexing Pharmaceutical, and Huiyu Pharmaceutical, while 13 stocks recorded gains, with *ST WanFang, Zhenghai Bio, and Huabei Pharmaceutical leading the increases at 3.42%, 2.66%, and 2.08% respectively [1] Capital Flow - The recombinant protein sector faced a net outflow of 484 million yuan from major funds, with 32 stocks experiencing net outflows, and 8 stocks seeing outflows exceeding 30 million yuan [1] - HaiTe Bio led the outflows with a net withdrawal of 79.69 million yuan, followed by YiPinHong, Chengdu XianDao, and BeiDa Pharmaceutical with outflows of 72.64 million yuan, 64.49 million yuan, and 52.64 million yuan respectively [1] Top Gainers and Losers - The top gainers in the recombinant protein sector included DeZhan Health, HuaXi Bio, and BoRui Pharmaceutical, with net inflows of 68.21 million yuan, 24.69 million yuan, and 17.58 million yuan respectively [3] - The detailed outflow list highlights stocks such as HaiTe Bio (-8.67%), YiPinHong (-2.70%), and Chengdu XianDao (-2.88%) as the most affected by capital withdrawal [2]

从资金流向上来看，当日生物制品板块主力资金净流出7.15亿元，游资资金净流入1.03亿元，散户资金净 流入6.12亿元。生物制品板块个股资金流向见下表： 证券之星消息，8月12日生物制品板块较上一交易日下跌0.65%，科兴制药领跌。当日上证指数报收于 3665.92，上涨0.5%。深证成指报收于11351.63，上涨0.53%。生物制品板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 600211 | 西藏药业 | 48.04 | 10.01% | 17.50万 | | 8.33亿 | | 300357 | 我武生物 | 26.60 | 2.19% | 11.16万 | | 2.91亿 | | 002007 | 华兰生物 | 17.06 | 1.73% | 36.57万 | | 6.30亿 | | 301080 | 百普赛斯 | 54.16 | 0.86% | 2.12万 | | 1.14亿 | | 002581 | ST未名 | 7.27 | 0.83% | ...

（文章来源：证券日报） 证券日报网讯 8月11日晚间，科兴制药发布公告称，公司将于2025年8月29日召开2025年第一次临时股 东大会。本次股东大会将审议《关于修订公司治理制度的议案》等多项议案。 ...

Investment Rating - The report maintains a "Recommended" rating for the healthcare industry, indicating that the industry index is expected to outperform the benchmark index by more than 10% [7]. Core Insights - The healthcare sector underperformed the CSI 300 index during the week of August 4 to August 8, 2025, with the Shenwan Pharmaceutical and Biological Index declining by 0.84%, lagging behind the CSI 300 by 2.07 percentage points [2][12]. - Year-to-date, the Shenwan Pharmaceutical and Biological Index has increased by 21.28%, outperforming the CSI 300 by 16.96 percentage points, ranking 5th among 31 Shenwan primary industry indices [2][14]. - As of August 8, 2025, the valuation of the pharmaceutical sector stands at 30.71 times (TTM overall method, excluding negative values), with a valuation premium of 158.50% compared to the CSI 300 [2][17]. Summary by Sections Weekly Market Review - The pharmaceutical sector's performance for the week showed a decline, with specific stocks like Nanmo Biology (+42.48%) and Haichen Pharmaceutical (+41.29%) performing well, while stocks like Nanxin Pharmaceutical (-18.50%) and Qizheng Tibetan Medicine (-16.11%) faced significant declines [3][18]. Important Events - On August 7, 2025, the Ministry of Industry and Information Technology and six other departments issued guidelines to promote the innovation and development of the brain-computer interface industry, aiming for breakthroughs in key technologies by 2027 and establishing a competitive industrial ecosystem by 2030 [4][21]. Industry Perspective - The brain-computer interface technology is highlighted as a frontier area where biological intelligence and machine intelligence can interact, with significant potential for disruptive breakthroughs. The report emphasizes the importance of this technology in the integration of life sciences and information sciences, and suggests focusing on companies like Mcland, Chengyitong, and Sanbo Neuroscience that are advancing in this field [5][22]. Investment Recommendations - The report suggests a continued focus on innovative drugs, overseas expansion, and sectors benefiting from procurement reforms. It highlights the potential for growth in the innovative drug sector, particularly in emerging markets, and recommends monitoring companies involved in insulin and orthopedic segments as well as certain generic drug firms [23].

证券代码：688136 证券简称：科兴制药 公告编号：2025-058 科兴生物制药股份有限公司 关于召开2025年第一次临时股东大会的通知 本公司董事会及全体董事保证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： 一、 召开会议的基本情况 （一） 股东大会类型和届次 2025年第一次临时股东大会 召开日期时间：2025 年 8 月 29 日 14 点 00 分 召开地点：深圳市南山区高新中一道与科技中一路交汇处创益科技大厦 B 栋 19 楼会议室 （五） 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 8 月 29 日 至2025 年 8 月 29 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 股东大会召开日期：2025年8月29日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 （二） 股东大会召集人：董事会 （三） 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 （四） 现场会议召开 ...

Investment Rating - The report indicates a focus on potential business development opportunities in the weight loss drug sector, suggesting a positive outlook for innovative drug companies in this area [1][2]. Core Insights - The pharmaceutical and biotechnology sector experienced a decline of 0.84% from August 4 to August 8, underperforming compared to the Wind All A index (1.94%) and the CSI 300 index (1.23%) [7][9]. - Notable sub-sectors that performed well include medical consumables (3.93%), in vitro diagnostics (2.55%), and medical devices (1.94%), while medical research outsourcing (-3.56%), chemical preparations (-2.04%), and traditional Chinese medicine (-1.88%) saw significant declines [8][10]. - The report highlights the competitive landscape in the weight loss drug pipeline, with Eli Lilly reaffirming the feasibility of oral GLP-1 drugs, while other multinational corporations (MNCs) may seek external products to enhance competitiveness [2][12]. - The report also discusses the initiative by seven government departments to promote innovation in the brain-computer interface industry, aiming for breakthroughs in key technologies by 2027 [2][12]. Summary by Sections Market Weekly Review - The pharmaceutical and biotechnology sector saw a decline of 0.84% during the week, with significant internal rotation and underperformance compared to broader indices [7][9]. - Medical consumables, in vitro diagnostics, and medical devices were the top-performing sub-sectors, while medical research outsourcing and chemical preparations faced the largest declines [8][10]. Industry News and Key Company Announcements - The report notes several key industry events, including the approval of a biosimilar drug by Boan Biotech and the joint initiative by multiple government departments to foster the brain-computer interface industry [11][12]. - Significant company announcements include the approval of new indications for existing drugs and the launch of new products, indicating ongoing innovation within the sector [15][16].

Core Insights - The animal vaccine sector saw a rise of 1.41%, ranking 8th among concept sectors, with 15 stocks increasing in value, led by Shenlian Bio, Kanghua Bio, and Tiankang Bio, which rose by 9.71%, 8.60%, and 2.02% respectively [1][2] - The sector experienced a net outflow of 6.53 million yuan in capital, with seven stocks receiving net inflows, primarily led by Guoyao Modern, which saw a net inflow of 29.79 million yuan [2][3] - The top three stocks by net inflow ratio were Guoyao Modern at 17.35%, Kexing Pharmaceutical at 9.18%, and Luoniushan at 9.02% [3] Stock Performance - Guoyao Modern had a daily increase of 1.35% with a turnover rate of 1.14% and a net capital flow of 29.79 million yuan [3] - Kexing Pharmaceutical increased by 0.54% with a turnover rate of 2.79% and a net capital flow of 24.08 million yuan [3] - Luoniushan rose by 1.11% with a turnover rate of 2.44% and a net capital flow of 16.07 million yuan [3] Declining Stocks - Xianfeng Holdings, Biotech Shares, and Yongshun Bio were among the stocks with the largest declines, falling by 3.05%, 1.04%, and 0.60% respectively [1][4] - Other notable declines included Tian Kang Bio at 2.02% and Ruipu Bio at 0.56% [4]

Group 1 - The closing price of Sinovac Biotech on August 6 was 47.75 yuan, down 1.38 yuan or 2.81% from the previous trading day [1] - The trading volume on that day was 94,500 lots, with a total transaction amount of 456 million yuan [1] - Sinovac Biotech is an innovative company focused on the biopharmaceutical field, primarily engaged in the research, development, production, and sales of recombinant protein drugs and microbiome preparations [1] Group 2 - The company's products cover areas such as antiviral, hematology, oncology and immunology, and degenerative diseases [1] - Recently, the company established a comprehensive strategic partnership with IQVIA to jointly advance the clinical design, registration, and commercialization of Sinovac's innovative drugs and biosimilars in Europe and globally [1] - On August 6, the net outflow of main funds was 9.44 million yuan, while the net inflow over the past five days was 34.86 million yuan [1]