中邮证券表示，受益于海外投融资市场的率先复苏，需求端逐步恢复，CXO&上游公司订单增速提升， 行业拐点已过。CXO板块收入端恢复良好增长态势，盈利能力持续修复，利润端改善趋势更为显著， 基本面已呈现向上趋势。优质、高效、低成本的产品及服务为核心壁垒，我国制药业优势持续巩固，有 望在全球市场占据更高市场份额。中国创新药经过数十年发展，正在进入收获期，叠加政策友好性和市 场流动性提升，国内创新药市场前景光明。建议重点关注肿瘤、自免、减重、阿尔兹海默症、NASH、 脱发、乙肝等领域。 甬兴证券表示，百济神州凭借泽布替尼在欧美市场份额的提升保持收入规模的增长、恒瑞医药也多次实 现创新药的对外授权，我们认为国产创新药的竞争力正在持续提升，看好国产创新药的出海前景。 （本文机构观点来自持牌证券机构，不构成任何投资建议，亦不代表平台观点，请投资人独立判断和决 策。） 5月14日港股低开低走，医药生物板块逆市走强。热门ETF方面，港股创新药ETF（159567）盘中震荡 走高，截至发稿涨1.01%。换手率超7%，成交额快速突破1亿元，交投活跃。 成分股方面，三生制药涨超4%，康希诺生物、凯莱英涨超3%，晶泰控股、再鼎医药、科 ...

Group 1 - Feilong Co., Ltd. received a project designation notification letter from a well-known domestic automobile brand, becoming a supplier for a water-side thermal management module, with expected sales revenue during the lifecycle meeting disclosure standards [1] - Hanchuan Intelligent's controlling shareholder received a warning letter from Jiangsu Securities Regulatory Bureau for failing to timely disclose a share pledge contract, which may affect the company's control and stock price [2] - Vanke A completed the redemption of the "20 Vanke 04" corporate bonds, with a redemption amount of 1.5 billion yuan and interest payment of 51.75 million yuan [3][4] Group 2 - China Shenhua reported a 4% year-on-year decline in coal sales volume for April, totaling 35.6 million tons, and a 3.9% decrease in commodity coal production [5] - Shaanxi Black Cat plans to increase capital by 600 million yuan for its wholly-owned subsidiary Xinjiang Black Cat Coal Industry to enhance its capital strength [6][7] - China National Aviation reported an 8.6% year-on-year increase in passenger turnover for April, with a 5.3% increase in passenger capacity [8][9] Group 3 - Huabei Pharmaceutical's subsidiary received approval for clinical trials of a recombinant tetanus vaccine, which is a new generation vaccine with better safety and immunogenicity [10] - China Chemical's subsidiary received a lawsuit notice related to a securities false statement liability dispute [11] - China Metallurgical Group reported a 24.9% year-on-year decline in new contract value for January to April, totaling 308.4 billion yuan [13] Group 4 - Zhongmei Energy reported a 5.8% year-on-year decline in commodity coal sales for April, totaling 21.1 million tons [14] - Huangma Technology announced a plan to reduce holdings of up to 6.26 million shares due to personal funding needs [15] - Aiyingshi proposed a cash dividend of 2.53 yuan per 10 shares for the fiscal year 2024 [16] Group 5 - Shengyi Technology's executives plan to reduce their holdings by a total of 1.49 million shares [17] - CanSino's inhaled tuberculosis vaccine received clinical trial approval in Indonesia [18] - Beidouxingtong completed the acquisition of 51% of Shenzhen Tianli Automotive Electronics Technology Co., Ltd. [19] Group 6 - Spring Airlines reported a 12.29% year-on-year increase in available capacity for April, with a total of 4.73 billion ton-kilometers [20] - Dongya Pharmaceutical's raw material drug received registration certification in South Korea [21] - Shandong Steel plans to establish a sales subsidiary with a registered capital of 20 million yuan [22] Group 7 - Caida Securities appointed Hu Hengsong as the executive vice president [23] - Aibulu's vice president resigned due to personal career planning [24] - *ST Jinguang's stock price surged amid a warning of delisting risk [25] Group 8 - Yunnan Energy Investment plans to implement a 600,000 tons/year salt production energy-saving and carbon reduction project with a total investment of 448 million yuan [27] - Hanyu Group's executives plan to reduce their holdings due to personal funding needs [28] - Jiangsu Boyun's shareholders plan to reduce their holdings by up to 971,300 shares [29] Group 9 - Hainan Airport signed a cooperation agreement with Harbin Institute of Technology (Shenzhen) to establish a joint laboratory [32] - Xiamen Tungsten New Energy plans to acquire 47% of Ganzhou Haopeng Technology Co., Ltd. [33] - Dongfang Materials announced a change in controlling shareholder due to judicial auction of shares [34] Group 10 - Jingyuan Environmental Protection's executives plan to reduce their holdings by a total of 1.176% of the company's shares [35] - China Pacific Insurance reported a 10.4% year-on-year increase in original insurance premium income for the first four months [36] - ST United is planning a major asset restructuring and has suspended trading [37] Group 11 - *ST Suwu's chairman received a notice of investigation for suspected information disclosure violations [39] - Huagong Technology's subsidiary plans to establish a joint venture [40] - Qibin Group terminated the purchase of 28.78% equity in its subsidiary [41] Group 12 - Huakang Clean signed a construction contract worth 143 million yuan with Dengfeng City General Hospital [42] - Kanghong Pharmaceutical received approval for clinical trials of a drug for postpartum depression [43] - Shengjing Micro plans to repurchase shares worth between 30 million and 50 million yuan [44] Group 13 - Shenghe Resources' subsidiary plans to acquire 100% of Peak Rare Earths Limited for 158 million Australian dollars [45] - Sinopec's controlling shareholder increased its stake by 302 million H-shares, amounting to HKD 1.232 billion [46] - Mingyang Circuit plans to repurchase shares worth between 15 million and 25 million yuan [47] Group 14 - China Oil Engineering's subsidiary won a project in Iraq worth approximately 11.538 billion yuan [48] - Chaojie Co., Ltd. announced the termination of a share transfer agreement [49]

证券代码：688185 证券简称：康希诺 公告编号：2025-015 康希诺生物股份公司 自愿披露关于吸入用肺结核疫苗（5型腺病毒载体） 于印度尼西亚获得临床试验批准的公告 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。 康希诺生物股份公司（以下简称"公司"）开发的吸入用肺结核疫苗（5型 腺病毒载体）（以下简称"吸入用结核病加强疫苗"）于近日获得印度尼西亚食 品药品监督管理局（Badan Pengawas Obat dan Makanan, Republik Indonesia, "BPOM"）签发的临床试验批准。 一、产品基本情况 二、临床试验相关情况 该 I 期临床试验目的是在 18-49 岁的成年人中探究接种一剂吸入用肺结核疫 苗（5 型腺病毒载体）的安全性和免疫原性。 三、风险提示 疫苗研发是一项复杂严谨的科学活动，难度大、周期长，在上市销售前需要 申请临床试验、进行临床试验、申请药品注册上市许可等，临床试验进程和结果 及产品上市进度具有不确定性，公司信息以公司指定披露媒体以及上海证券交易 所网站刊登的公告为准。敬 ...

康希诺生物股份公司 2024 年年度股东大会 证券代码：688185 证券简称：康希诺 康希诺生物股份公司 2024 年年度股东大会会议资料 2025 年 6 月 康希诺生物股份公司 2024 年年度股东大会 | 目录 | | --- | | 年年度股东大会会议须知 | 2024 | 1 | | --- | --- | --- | | 年年度股东大会会议议程 | 2024 | 4 | | 年年度股东大会会议议案 | 2024 | 7 | | 议案一：关于 年度董事会工作报告的议案 | 2024 | 7 | | 议案二：关于 年度监事会工作报告的议案 | 2024 | 14 | | 议案三：关于 年年度报告及摘要的议案 | 2024 | 18 | | 议案四：关于 年度财务决算报告与财务审计报告的议案 | 2024 | 19 | | 议案五：关于 年度利润分配方案的议案 | 2024 | 20 | | 议案六：关于聘请 年度境内外审计机构及内部控制审计机构的议案 2025 | | 21 | | 议案七：关于增发公司 A 股及/或 H 股股份的一般性授权的议案 | | 22 | | 议案八：关于提请股东大会授权董 ...

Investment Rating - The report does not explicitly state an investment rating for the vaccine industry Core Insights - The overall trend in the vaccine industry shows a decline in batch approvals for most vaccine types in Q1 2025, with some exceptions showing recovery or growth in demand [7][29][46] Summary by Category Multi-Component Vaccines - In Q1 2025, multi-component vaccines saw a total of 17 batch approvals, a decrease of 26% compared to the previous year [11][15] - The five-component vaccine maintained its batch approval at 17, while the four-component vaccine had no approvals [15][12] Pneumonia Vaccines - Total batch approvals for pneumonia vaccines in Q1 2025 were 23, down 30% year-on-year [19][21] - The 13-valent pneumonia vaccine had 19 approvals, remaining stable, while the 23-valent vaccine saw a significant drop to 4 approvals, down 71% [24][19] HPV Vaccines - HPV vaccine approvals increased to 57 batches in Q1 2025, a growth of 63% [29][27] - The two-valent HPV vaccine saw a remarkable increase of 367%, with all approvals coming from Wantai Biological Pharmacy [29][32] Influenza Vaccines - Influenza vaccine approvals totaled 29 batches, a significant increase of 263% year-on-year [34][38] - The three-valent influenza vaccine had 28 approvals, while the four-valent vaccine had only 1 approval, down 67% [38][41] Rabies Vaccines - Batch approvals for rabies vaccines increased to 223 in Q1 2025, a growth of 37% [46][48] - The freeze-dried rabies vaccine accounted for the majority of approvals, with Chengda Biological achieving 105 approvals, a 110% increase [48][46] Varicella Vaccines - Varicella vaccine approvals slightly decreased to 83 batches, down 2% [53][54] - The largest contributor was Baike Biological, with 33 approvals, marking a 38% increase [54][53] Hib Vaccines - Hib vaccine approvals fell to 7 batches, a decrease of 50% [59][58] EV71 Vaccines - EV71 vaccine approvals continued to decline, with only 4 batches approved, down 69% [64][63] Rotavirus Vaccines - Rotavirus vaccine approvals totaled 21 batches, a decrease of 46% [68][67] DTP Vaccines - DTP vaccine approvals increased to 18 batches, a growth of 167% [72][73] Meningitis Vaccines - Meningitis vaccine approvals totaled 85 batches, down 34% [78][79] - The AC polysaccharide vaccine accounted for 55 approvals, a decrease of 47% [84][79] Hepatitis B Vaccines - Hepatitis B vaccine approvals increased to 87 batches, a growth of 28% [91][90] IPV Vaccines - IPV vaccine approvals totaled 22 batches, a decrease of 33% [93][92]

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 2025年4月30日 狀態: 新提交 | | --- | | 截至月份: | 致：香港交易及結算所有限公司 公司名稱: 康希諾生物股份公司 呈交日期: 2025年5月8日 I. 法定/註冊股本變動 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | H | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06185 | 說明 | H 股 | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | 已發行股份總數 | | | 上月底結存 | | | 132,670,900 | 0 | | 132,670,900 | | 增加 / 減少 (-) | | | 0 | 0 | | | | 本月底結存 | | | 132,670,900 | 0 | | 132,670,900 | | 1. 股份分類 | 普通股 | 股份類別 | H | ...

Core Viewpoint - The impact of the U.S. "reciprocal tariffs" on Chinese pharmaceutical companies is limited, with many companies reporting normal operations and minimal effects on their business [1][2][4][7][12]. Group 1: Company Responses - Heng Rui Pharmaceutical reported that overseas sales account for only 2.56% of its revenue, indicating that U.S. tariffs have a minimal impact on its business [1]. - Han Yu Pharmaceutical stated that it has a diversified market presence across North America, Asia, Europe, and South America, which mitigates risks from single market policy changes [2]. - Bai Yang Pharmaceutical noted that its supply chain is globally diversified, and the impact of tariffs is minimal [3]. - WuXi AppTec acknowledged that tariffs will have some impact but emphasized their optimized supply chain and management practices to minimize effects [4]. - Kangtai Biological confirmed that it has no products exported to the U.S. and is focusing on markets along the Belt and Road [5]. Group 2: Industry Trends - The medical device industry in China is rapidly developing, with companies like Mindray Medical actively seeking alternatives for U.S. imported raw materials [5]. - Companies are increasingly focusing on domestic production and local supply chains to counteract potential tariff impacts [6][8]. - The vaccine industry in China is evolving, with companies like CanSino Biologics transitioning from followers to leaders in vaccine technology [8][9]. - The overall sentiment among Chinese pharmaceutical companies is that the current tariff situation presents an opportunity for domestic substitution and innovation [10][12].

Core Viewpoint - 康希诺 has shown significant improvement in its financial performance, with a notable reduction in losses and a positive revenue growth trajectory, indicating a potential recovery from the impacts of the COVID-19 pandemic [2][3][4]. Financial Performance - In Q1 2025, 康希诺 reported revenue of 1.074 billion yuan, a year-on-year increase of 20.02%, while the net loss attributable to shareholders was 11.55 million yuan, down from a loss of 170 million yuan in the same period last year [2]. - The company achieved a substantial reduction in losses due to several factors, including the absence of one-time special losses from the previous year, increased market share of its meningococcal products, and additional government subsidies [2][4]. - For the full year 2024, 康希诺's revenue grew by 137.01% to 846 million yuan, with a narrowed net loss of 379 million yuan [3]. Market Position and Competitiveness - 康希诺's performance stands out in a challenging vaccine market, where most domestic vaccine manufacturers reported declines in revenue [4][3]. - The company’s meningococcal vaccine, 曼海欣, has become a key revenue driver, contributing significantly to its Q1 2025 revenue [7][10]. - Despite the overall decline in the meningococcal vaccine market, 康希诺's products have shown growth, with 曼海欣's approval and sales expected to continue expanding [9][10]. Product Pipeline and Future Prospects - 康希诺 has two approved meningococcal vaccines, with 曼海欣 being the primary revenue contributor, and is actively pursuing market expansion both domestically and internationally [6][10]. - The company is also awaiting approval for its 13-valent pneumococcal conjugate vaccine, which could further enhance its product portfolio, although competition in this segment is strong [11]. - The future growth potential of 康希诺 remains uncertain, as its current and upcoming products may not provide significant long-term growth opportunities [11].

康希诺生物股份公司 关于召开2024年年度股东大会的通知 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 2024年年度股东大会 证券代码：688185 证券简称：康希诺 公告编号：2025-014 （四） 现场会议召开的日期、时间和地点 召开日期时间：2025 年 6 月 4 日 13 点 30 分 召开地点：天津市河东区卫国道 126 号天津东凯悦酒店二层悦宾厅 1 （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 6 月 4 日 至2025 年 6 月 4 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 东大会召开当日的交易时间段，即 9:15-9:25，9:30-11:30，13:00-15:00；通过互 联网投票平台的投票时间为股东大会召开当日的 9:15-15:00。 （六） 融资融券、转融通、约定购回业务账户和沪股通投资者的投票程序 股东大 ...

Financial Performance - The company's revenue for Q1 2025 was CNY 137,160,578.06, representing a year-over-year increase of 20.02% compared to CNY 114,282,281.78 in the same period last year[4]. - The net loss attributable to shareholders for the period was CNY 11,545,431.51, a significant improvement from a loss of CNY 170,095,866.61 in the previous year[4]. - Total operating revenue for Q1 2025 was ¥137,160,578.06, an increase of 20.00% compared to ¥114,282,281.78 in Q1 2024[18]. - Net profit for Q1 2025 was a loss of ¥11,545,431.51, an improvement from a loss of ¥174,882,984.28 in Q1 2024[19]. - The total comprehensive loss for Q1 2025 was ¥11,549,283.95, an improvement from a loss of ¥174,560,182.55 in Q1 2024[19]. Cash Flow - The net cash flow from operating activities was a net outflow of CNY 13,801,882.53, which is an improvement of CNY 94,393,791.82 compared to the previous year's outflow[7]. - Cash flow from operating activities showed a net outflow of ¥13,801,882.53 in Q1 2025, compared to a net outflow of ¥108,195,674.35 in Q1 2024[21]. - Cash flow from investing activities resulted in a net outflow of ¥437,359,085.65 in Q1 2025, contrasting with a net inflow of ¥275,011,228.44 in Q1 2024[22]. - Cash and cash equivalents at the end of Q1 2025 were ¥1,055,668,836.98, down from ¥2,374,907,374.57 at the end of Q1 2024[22]. Research and Development - Research and development (R&D) expenses totaled CNY 88,924,234.66, a decrease of 28.48% from CNY 124,328,450.39 in the same period last year, with R&D expenses accounting for 64.83% of revenue, down 43.96 percentage points[4][7]. - Research and development expenses were ¥72,712,590.56 in Q1 2025, down 25.00% from ¥96,745,611.33 in Q1 2024[18]. - The company continues to focus on enhancing R&D efficiency and integrating resources across different pipelines to drive future growth[7]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 7,820,387,409.65, a decrease of 1.73% from CNY 7,958,132,235.38 at the end of the previous year[5]. - The company's current assets totaled CNY 4,134,286,329.53, down from CNY 4,282,490,715.65, indicating a decrease of about 3.45%[13]. - The company's total liabilities were CNY 2,921,615,159.54, down from CNY 3,048,260,581.65, showing a reduction of around 4.17%[15]. - The total equity attributable to the owners of the parent company was CNY 4,898,772,250.11, slightly decreasing from CNY 4,909,871,653.73, a change of about 0.23%[15]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 17,828[9]. - The company has not reported any significant changes in its major shareholders or their participation in margin trading activities[11]. Profitability Metrics - The weighted average return on equity improved by 3.04 percentage points to -0.24% from -3.28% in the previous year[4]. - The company's gross profit margin improved by 23.14 percentage points due to optimized production capacity and cost control measures[7]. - The company's inventory increased to CNY 322,559,055.80 from CNY 283,414,610.09, marking an increase of approximately 13.80%[13]. - The company's short-term borrowings decreased to CNY 213,622,195.45 from CNY 377,348,417.32, a reduction of about 43.45%[15]. - The company's long-term borrowings increased to CNY 1,114,926,712.74 from CNY 1,098,538,320.81, reflecting an increase of approximately 1.49%[15].