格隆汇9月22日｜A股市场减肥药概念股走弱，其中，博瑞医药跌近10%，众生药业跌超8%，普洛药 业、普蕊斯跌超3%。 ...

Group 1 - The core viewpoint of the news is that the weight loss drug sector experienced a significant decline in stock prices after an initial rise, indicating volatility in this market segment [1] - Specifically, Borui Pharmaceutical saw a drop of over 10% after previously rising more than 9% [1] - Other companies in the sector, such as Zhongsheng Pharmaceutical, fell over 7%, while Tianenkang, Kexing Pharmaceutical, Baihua Pharmaceutical, and Jinkaishengke also experienced declines [1]

Market Overview - The Shanghai Composite Index fell by 0.30% on September 19, with 16 industries rising, led by coal and non-ferrous metals, which increased by 1.97% and 1.19% respectively [2] - The automotive and pharmaceutical industries experienced the largest declines, with drops of 1.94% and 1.41% respectively [2] Capital Flow Analysis - The main capital outflow from the two markets totaled 58.733 billion yuan, with 8 industries seeing net inflows [2] - The non-ferrous metals industry had the highest net inflow, amounting to 872 million yuan, while the media industry followed with a net inflow of 692 million yuan and a daily increase of 0.49% [2] - A total of 23 industries experienced net capital outflows, with the computer industry leading at 10.723 billion yuan, followed by the automotive industry with 7.929 billion yuan [2] Pharmaceutical Industry Performance - The pharmaceutical industry saw a decline of 1.41% with a total net capital outflow of 7.085 billion yuan [3] - Out of 474 stocks in the pharmaceutical sector, 65 stocks rose while 405 stocks fell, including one stock hitting the daily limit down [3] - The top three stocks with the highest net inflow in the pharmaceutical sector were: - Borui Pharmaceutical with a net inflow of 130 million yuan - Mindray Medical with 75.259 million yuan - Micron Technology with 73.759 million yuan [3][4] Capital Outflow in Pharmaceutical Sector - The stocks with the largest capital outflows included: - China National Pharmaceutical with a net outflow of 406 million yuan - Furuya Shares with 342 million yuan - Xingqi Eye Medicine with 188 million yuan [5] - Other notable outflows included: - Hengrui Medicine with a net outflow of 172 million yuan - Celgene Medical with 158 million yuan [5][6]

Core Viewpoint - The article discusses the clinical trial approval for BGM0504, a dual agonist of GLP-1 and GIP receptors, which is expected to have potential in treating various metabolic diseases, including obesity and non-alcoholic steatohepatitis (NASH) [4][6]. Group 1: Clinical Trial and Drug Development - On September 16, Borui Biopharmaceuticals (Suzhou) Co., Ltd. announced that its subsidiary Borui Pharmaceutical (Suzhou) Co., Ltd. received the clinical trial approval notice from the National Medical Products Administration to conduct trials of BGM0504 tablets in overweight and obese adults [4]. - BGM0504 is designed to activate two downstream signaling pathways, which can help control blood sugar levels, reduce weight, and improve conditions like NASH [6]. - Currently, the injectable form of BGM0504 is in Phase III clinical trials for two indications: type 2 diabetes and weight loss, while the tablet form is being developed for oral administration [7]. Group 2: GLP-1 Drug Class Overview - GLP-1 (glucagon-like peptide-1) is a hormone produced by intestinal L cells and is classified as an incretin. GLP-1 receptor agonists are a new class of hypoglycemic drugs that enhance insulin secretion in a glucose-dependent manner, suppress glucagon secretion, and delay gastric emptying, leading to reduced food intake and lower blood sugar levels [17].

Company Overview - 博瑞医药 (Borui Pharmaceutical) has seen its stock price increase by 213.08% year-to-date, with a recent 3.17% rise over the last five trading days, a 14.32% decline over the last 20 days, and a 71.83% increase over the last 60 days [2] - The company specializes in the research and production of high-end generic drugs and original new drugs, and it is located in Suzhou Industrial Park, Jiangsu Province [2] Financial Performance - For the first half of 2025, 博瑞医药 reported revenue of 537 million yuan, a year-on-year decrease of 18.28%, and a net profit attributable to shareholders of 17.17 million yuan, down 83.85% year-on-year [2] - Cumulative cash dividends since the company's A-share listing amount to 246 million yuan, with 129 million yuan distributed over the past three years [3] Shareholder Information - As of June 30, 2025, the number of shareholders for 博瑞医药 was 9,568, a decrease of 10.11% from the previous period, while the average number of circulating shares per person increased by 11.32% to 44,185 shares [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 3.25 million shares, a decrease of 1.06 million shares from the previous period, and Innovation Drug, which is a new shareholder holding 2.81 million shares [3]

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 9月16日，博瑞医药（维权）收涨1.34%，收盘价为92.40元，发生1笔大宗交易，合计成交量2.4万股， 成交金额200.4万元。 进一步统计，近3个月内该股累计发生23笔大宗交易，合计成交金额为2.28亿元。该股近5个交易日累计 上涨1.54%，主力资金合计净流入8454.08万元。 责任编辑：小浪快报 第1笔成交价格为83.50元，成交2.40万股，成交金额200.40万元，溢价率为-9.63%，买方营业部为机构 专用，卖方营业部为国投证券股份有限公司江苏分公司。 ...

Market Overview - On September 16, A-shares opened slightly higher with the Shanghai Composite Index up 0.14% at 3865.98 points, the Shenzhen Component Index up 0.09% at 13017.58 points, and the ChiNext Index up 0.2% at 3072.3 points [1] - The market focus included stocks like Shoukai Co., which opened up 1.65% after a significant price increase, and other sectors such as gold and real estate showing strong performance [1] Company News - CATL announced that its sodium-ion battery has passed the new national standard certification, making it the first globally certified sodium-ion battery for passenger vehicles [2] - Shoukai Co. experienced a significant stock price fluctuation, with a cumulative increase of 100% over a short period, indicating abnormal trading activity [2] - Shanghai Construction Group reported an increase in gold mine resources, valued at approximately 4.27 billion RMB, although this has minimal impact on the company's overall revenue [2] - New Dazheng is planning a major asset restructuring involving the acquisition of at least 51% of Jiaxin Liheng Facility Management [3] - Jiugui Liquor's collaboration with a partner has led to strong sales of a new product, with plans to accelerate the development of innovative alcoholic beverages [3] - Longpan Technology signed a procurement agreement with CATL for lithium iron phosphate cathode materials, with total sales expected to exceed 6 billion RMB [3] - Dingtong Technology plans to invest up to 15 million USD in Vietnam for the development of high-speed communication connectors and other products [3] - Borui Pharmaceutical received approval for clinical trials of a new drug targeting obesity, marking a significant milestone in its product development [3] Stock Movements - Siwu Fushi's major shareholder reduced their stake by approximately 0.94%, bringing their total holding down to 64.8% [4] - Junsheng Electronics secured projects with major automotive brands, with a total lifecycle order value estimated at around 15 billion RMB [4] Investment Opportunities - Crystal Morning plans to acquire 100% of Chip Micro Semiconductor for 316 million RMB, focusing on IoT and automotive applications [5] - Nanfeng Co. is in the early stages of a 3D printing service project, with an initial investment of 50 million RMB [5] - Zhenghai Magnetic Materials' convertible bonds will cease trading after September 16, with a forced redemption price set at 100.50 RMB per bond [5] Regulatory Updates - ST Suwu's stock price fell below 1 RMB, risking delisting if it remains below this threshold for 20 consecutive trading days [6] Industry Trends - Keli Yuan plans to accelerate the construction of energy storage projects in various regions, aiming for at least 4 GWh of new projects by the end of 2025 [7] - The electronic industry is seeing a shift towards advanced packaging and thermal management solutions, driven by the demands of AI and data centers [11] - The new policies from the National Development and Reform Commission and the National Energy Administration are expected to boost the growth of energy storage and wind power projects [19]

21点评：全球高端医疗器械市场长期由欧美日企业主导，但近几年，我国创新医疗器械企业不断实现突 破，从原来更多的仿制欧美国家的产品，到现在不断出现一些自主研发的高端医疗器械，且在部分领域 已经出现领先产品。此前国家药监局已出台十项举措推动高端医疗发展，此次上海行动方案的出台，将 进一步促进医疗器械行业尤其是新技术的发展。 这里是《21健讯Daily》，欢迎与21世纪经济报道新健康团队共同关注医药健康行业最新事件！ 政策动向 《上海市促进高端医疗器械产业全链条发展行动方案》印发 9月15日，上海市人民政府办公厅印发《上海市促进高端医疗器械产业全链条发展行动方案》，到2027 年，新增首次获批境内第三类医疗器械注册证超500件，新增在海外市场获批医疗器械产品超100件，培 育年产值超100亿元、具备较强国际竞争力的龙头企业2家，建设高端医疗器械产业集聚区3个。 河南：加强中医药大模型构建和训练 攻克中药产品一致性难题 9月15日，河南省人民政府办公厅印发《河南省加快人工智能赋能新型工业化行动方案（2025—2027 年）》，其中提出，现代医药产业方面，加快大模型在药物智能筛选、临床试验设计与分析、药物合成 工艺优化 ...

Core Viewpoint - The announcement from Borui Pharmaceutical indicates the approval of clinical trials for BGM0504 tablets, a dual agonist of GLP-1 and GIP receptors, aimed at treating overweight/obese adults [1] Group 1: Product Development - Borui Pharmaceutical's subsidiary, Borui Medicine, has received the clinical trial approval notice from the National Medical Products Administration for BGM0504 tablets [1] - BGM0504 is designed to have multiple biological effects, including blood sugar control, weight loss, and treatment of NASH [1] - The injectable form of BGM0504 has already entered Phase III clinical trials for type 2 diabetes and weight loss indications [1] Group 2: Market Position - Currently, there are no approved oral formulations targeting the same mechanism as BGM0504 globally [1] - The approval of BGM0504 tablets positions the company uniquely in the market for oral GLP-1 and GIP receptor agonists [1] Group 3: Investor Advisory - The company has advised investors to be aware of the long-term nature and uncertainties associated with drug development [1] - It is noted that the short-term impact on the company's operating performance will not be significant [1]

Group 1: Company Developments - Purun Co. plans to acquire controlling stake in high-performance 2D NAND storage chip company SHM [4] - Longxin Zhongke's first GPGPU chip, 9A1000, is expected to deliver tape-out within the third quarter [5] - Jingwei Hengrun's major shareholder and director, Cao Xuming, intends to reduce holdings by up to 1 million shares [6] - Hangke Technology's actual controller, Cao Ji, plans to transfer 3% of total share capital through inquiry pricing [7] - Jincheng Co. announces a cash acquisition of 100% equity in Chip Micro Semiconductor for 316 million yuan [3] Group 2: Industry Trends - Shanghai government promotes the development of high-end medical imaging products and AI medical devices [1] - Henan province accelerates the construction of national supercomputing internet core nodes and AI-enabled industrialization [1] - Dongguan city supports the construction of low-altitude economic infrastructure, including general airports and eVTOL facilities [2] Group 3: Financing and Investments - Chip Vision Microelectronics completes several hundred million C+ round financing led by Guoxin Fund [16] - Huakan Biotechnology secures several hundred million B+ round financing for 3D cell manufacturing solutions [16] - Haide Hydrogen Energy announces a new round of strategic financing for global market expansion and product development [17]