Core Viewpoint - The Chinese innovative drug market is entering a rapid development phase, with local leading companies like Heng Rui benefiting from policy support and industry expansion opportunities [1] Company Performance - Heng Rui Pharmaceutical reported a revenue of 23.188 billion yuan for the first three quarters of 2025, a year-on-year increase of 14.85%, and a net profit of 5.751 billion yuan, up 24.50% [2] - The company has received a total cash dividend of over 9.3 billion yuan, enhancing investor returns [1] - The company has established a differentiated competitive advantage through over 50 billion yuan in R&D investment and has 24 innovative drugs approved for sale in China [1] Industry Trends - The innovative drug sector is experiencing accelerated commercialization and increased business development (BD) transactions, leading to a sustained trend of rapid growth in performance [1] - Other innovative drug companies, such as Zai Lab and DiZhe Pharmaceutical, are also reporting significant revenue growth, with Zai Lab achieving a 54.49% increase in revenue to 593 million yuan [3] - The industry is expected to continue its growth trajectory, supported by favorable national policies and increasing international collaboration [4][5] R&D Focus - Heng Rui's innovative drugs, including Rivoceranib and Darsylis, are addressing unmet clinical needs, contributing to their revenue growth [2] - Zai Lab emphasizes its differentiated product pipeline focusing on oncology and autoimmune diseases, aiming to fill domestic gaps in treatment options [3] - The industry is witnessing a rise in R&D investments, with companies like Yi Fang Bio reporting a total R&D investment of 190 million yuan for the first three quarters of 2025 [4] Future Outlook - Analysts predict a new round of growth for the pharmaceutical sector, particularly in innovative drugs, as the international standing of Chinese innovative drug companies rises [5] - The innovative drug sector is expected to remain a key investment theme in the pharmaceutical industry through 2026, driven by increased BD transactions and international collaborations [5]

Core Viewpoint - Dize Pharmaceutical's stock performance and financial metrics indicate a mixed outlook, with significant revenue growth but ongoing net losses, reflecting challenges in profitability despite strong sales growth [1][2]. Group 1: Stock Performance - On November 5, Dize Pharmaceutical's stock price remained unchanged at 0.00%, with a trading volume of 234 million yuan [1]. - The financing buy-in amount for Dize Pharmaceutical on the same day was 9.97 million yuan, while the financing repayment was 12.63 million yuan, resulting in a net financing outflow of 2.66 million yuan [1]. - As of November 5, the total balance of margin trading for Dize Pharmaceutical was 166 million yuan, which accounts for 0.58% of its market capitalization [1]. Group 2: Financial Performance - For the period from January to September 2025, Dize Pharmaceutical reported a revenue of 586 million yuan, representing a year-on-year growth of 73.23% [2]. - The company's net profit attributable to shareholders was -580 million yuan, showing a year-on-year decrease of 3.85% [2]. - As of September 30, 2025, the number of shareholders increased to 8,806, up by 5.01%, with an average of 46,528 circulating shares per person, an increase of 108.97% [2]. Group 3: Shareholder Composition - As of September 30, 2025, the fourth largest circulating shareholder was Yongying Pharmaceutical Innovation Mixed Fund A, holding 5.91 million shares, an increase of 2.30 million shares from the previous period [2]. - Hong Kong Central Clearing Limited entered as a new sixth largest shareholder with 4.51 million shares [2]. - Other notable changes include an increase in holdings by Dongfanghong Medical Upgrade Fund A and a decrease by Penghua Pharmaceutical Technology Fund A among the top ten circulating shareholders [2].

Core Insights - A total of 77 stocks in the Shanghai and Shenzhen markets have experienced net inflows of main funds for five consecutive days or more as of November 5, with Cambricon Technologies (寒武纪-U) leading with 50 days of continuous inflow [1] - The total net inflow of main funds for Cambricon Technologies reached 6.325 billion yuan, followed by Shanghai Pudong Development Bank with a net inflow of 777 million yuan over five days [1] - In terms of the proportion of net inflow to trading volume, *ST Baoying ranks first, with a 47.72% increase over the past eight days [1] Summary by Category Stocks with Continuous Net Inflows - Cambricon Technologies (688256) has seen net inflows for 50 days totaling 6.325 billion yuan, with a price increase of 44.33% [1] - Shanghai Pudong Development Bank (600000) recorded net inflows of 777 million yuan over five days, with a price increase of 0.42% [1] - CITIC Bank (601998) had net inflows of 439 million yuan over six days, with a price increase of 3.85% [1] Notable Performers - *ST Baoying had the highest net inflow ratio, with a significant price increase of 47.72% over the last eight days [1] - Other notable stocks include Jiangsu Bank (600919) with a net inflow of 342 million yuan and a price increase of 5.70%, and Yaxing Anchor Chain (601890) with a net inflow of 331 million yuan and a price increase of 10.16% [1] Additional Stocks with Inflows - Other stocks with notable net inflows include: - China Shenhua (601088) with 314 million yuan and a 3.42% increase [1] - Haotian Co., Ltd. (603759) with 166 million yuan and a 64.35% increase over 11 days [1] - Microelectronic Physiology (688351) with 140 million yuan and a 12.94% increase [1]

Core Insights - DiZhe Pharmaceutical (688192) will present multiple latest research findings on its key lymphoma treatment products, Golixty (generic name: Golixty capsules) and Birelentinib (DZD8586), at the 67th American Society of Hematology (ASH) conference from December 6 to 9 [1] Group 1: Product Developments - The ASH conference will showcase Golixty's exploration and progress in monotherapy and combination therapy strategies for r/r PTCL, first-line treatment, and rare subtypes, highlighting its broad application potential in T-cell lymphoma treatment [1] - Birelentinib is a globally innovative non-covalent dual-target inhibitor of LYN/BTK that can fully penetrate the blood-brain barrier, with the latest data from I/II clinical studies in CLL/SLL patients previously treated with covalent or non-covalent BTK inhibitors and BTK degraders to be presented [1]

证券代码：688192 证券简称：迪哲医药 公告编号：2025-57 迪哲（江苏）医药股份有限公司 自愿披露关于高瑞哲®和 Birelentinib 多项研究 入选第 67 届美国临床血液学会（ASH）大会的公告 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。 (1) 国际多中心注册临床研究 JACKPOT8 Part B 最新 2 年随访数据：美国单 中心分析显示，接受高瑞哲®治疗获持续缓解，疗效与耐受性与整体研究人群一 致 1 (2) 高瑞哲®作用机制研究提示，高瑞哲®单药可调节 PTCL 免疫微环境，联 合西达本胺可产生抗 PTCL 的协同增效作用 (3) 高瑞哲®回顾性研究显示，其单药或联合治疗方案针对 r/r PTCL 伴噬血 细胞性淋巴组织细胞增多症（HLH）表现出抗 HLH 和抗肿瘤双重活性，且安全 性良好 2. PTCL 一线治疗领域： 迪哲（江苏）医药股份有限公司（以下简称"公司"）将于 12 月 6 日至 9 日在第 67 届美国临床血液学会（American Society of Hematology， ...

Core Viewpoint - The company, DIZHE Pharmaceutical (688192.SH), will present significant research findings on its core lymphoma treatment products at the upcoming 67th American Society of Hematology (ASH) conference from December 6 to 9 [1] Group 1 - The company will showcase two major products: Golixtin (generic name: Golitinib capsules) and birelentinib (DZD8586) [1] - A total of 15 abstracts from the company have been accepted for presentation at the conference, highlighting its extensive pipeline and research potential in the field of hematologic oncology [1]

Core Viewpoint - The company, DIZHE Pharmaceutical (688192), will present multiple research findings on its key lymphoma treatment products, Golitinib (generic name: Golitinib capsules) and Birelentinib (DZD8586), at the 67th American Society of Hematology Annual Meeting from December 6 to 9 [1] Group 1 - The company has 15 abstracts accepted for presentation at the conference, highlighting its extensive pipeline and research potential in the field of hematologic oncology [1]

Core Viewpoint - The company, DIZHE Pharmaceutical (688192.SH), will present multiple research findings on its key lymphoma treatment products at the upcoming 67th American Society of Hematology (ASH) conference from December 6 to 9, showcasing its robust pipeline and research potential in the field of hematologic oncology [1] Group 1 - The company will unveil research results for two core products: Golitiximab (highly regarded as 高瑞哲®) and birelentinib (DZD8586) [1] - A total of 15 abstracts from the company have been accepted for presentation at the ASH conference, highlighting its extensive pipeline in blood cancer treatment [1] - The participation in this prestigious conference reflects the company's commitment to advancing research in hematologic malignancies [1]

Core Viewpoint - The company, DIZHE Pharmaceutical (688192.SH), will present significant research findings on its core lymphoma treatment products, Golixty (generic name: Golitinib capsules) and birelentinib (DZD8586), at the 67th American Society of Hematology (ASH) conference from December 6 to 9 [1] Group 1 - The company has 15 abstracts accepted for presentation at the ASH conference, highlighting its extensive pipeline and research potential in the field of hematologic oncology [1]

Core Insights - The company, DIZHE Pharmaceutical (688192.SH), will present multiple research findings on its core lymphoma treatment products, Golitinib (高瑞哲®) and birelentinib (DZD8586), at the 67th American Society of Hematology (ASH) conference from December 6 to 9 [1] - A total of 15 abstracts from the company have been accepted for the conference, highlighting its extensive pipeline and research potential in the field of hematologic oncology [1]