申万宏源研究指出，受2024年9月以来市场情绪好转以及2025年2月科技、AI等题材催化，行业及个股 表现自2024年三季度起修复，2024年四季度起解禁绝对收益回暖。在此背景下，2025一季度上市的竞价 定增项目行业及个股估值升至相对高位，但上市节奏较慢，项目"稀缺性"叠加投资者参与度升温，导致 定增发行价格相较于二级市场的折扣有所收窄。目前，过会及注册节奏环比加快、存量项目数已达到近 期高位。展望2025二季度，预期定增发行将维持稳中有增的趋势，受投资者对定增项目需求增加的影 响，基准折价率预计将维持10%左右。 具体来看，在公募机构参与定增的股票中，昊华科技（600378）最受公募机构定增青睐，共有财通基 金、大成基金和诺德基金3家公募机构参与到该股定增，合计获配金额达16.28亿元。另外，国联民生 （601456）、迪哲医药(688192)、安宁股份（002978）、中钨高新（000657）、佰维存储(688525)和中 远海特（600428）等6股定增同样受到公募机构青睐，获配金额均超5亿元。 值得一提的是，在市场行情持续平稳震荡的情况下，多数公募机构参与定增实现浮盈。以5月19日收盘 价计算，年内 ...

2. 百纳千成(300291.SZ)：股东刘德宏计划在15个交易日后的3个月内通过集中竞价及大宗交易方式减持 不超过9,418,896股，占公司总股本的1%。 3. 北京君正(300223.SZ)：股东、董事张紧通过集中竞价交易方式减持600,000股，占公司总股本的 0.1246%，减持计划已实施完毕。 4. 倍杰特(300774.SZ)：控股股东、实际控制人权秋红通过集中竞价方式累计减持1,815,500股，占公司 总股本的0.44%，持股比例降至42.94%。 5. 博亚精工(300971.SZ)：董事周继红及监事会主席陈思立的减持计划时间届满，周继红减持8,400股， 陈思立减持247,200股。 6. 博众精工(688097.SH)：股东苏州众二及董事蒋健、宋怀良、马金勇提前终止减持计划，苏州众二减 持9,306,425股，蒋健减持22,443股，宋怀良减持32,750股，马金勇未减持。 1. ST路通(300555.SZ)：高级管理人员庄小正计划在15个交易日后的3个月内通过集中竞价交易方式减持 不超过671,700股，占公司总股本的0.34%。 7. 朝阳科技(002981.SZ)：控股股东一致 ...

证券代码：688192 证券简称：迪哲医药 公告编号：2025-32 迪哲（江苏）医药股份有限公司 公司于近日收到吴清漪女士、张世英（CHANG SHIH-YING）博士（以下简 称"减持主体"）相关股份减持计划的告知函，现将有关情况公告如下： | 一、减持主体的基本情况 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东名称 吴清漪 | | | | | | | | | | 控股股东、实控人及一致行动人 | | | | | | | □是 | √否 | | 直接持股 | 5%以上股东 | | | | | □是 | √否 | | | 股东身份 | | | | | | | | | | 董事、监事和高级管理人员 | | | | | | | √是 | □否 | | 其他：无 | | | | | | | | | | 持股数量 1,208,217股 | | | | | | | | | | 持股比例 0.2630% | | | | | | | | | | 股权激励取得：1,196,417股 | | | | | | | | ...

证券代码：688192 证券简称：迪哲医药 公告编号：2025-32 重要内容提示： 高级管理人员持股的基本情况 截至本公告披露日，迪哲（江苏）医药股份有限公司（以下简称"公司"）首 席商务官、副总经理吴清漪女士直接持有公司股份 1,208,217 股，占公司总股本 的 0.2630%，股份来源为股权激励计划归属及二级市场增持；副总经理张世英 （CHANG SHIH-YING）博士直接持有公司股份 65,000 股，占公司总股本的 0.0141%，股份来源为股权激励计划行权及归属。 减持计划的主要内容 因个人资金需求，吴清漪女士拟通过集中竞价方式减持不超过 302,054 股（含 本数），占公司总股本的比例不超过 0.0657%，占其本人本次减持前所持有公司 股份数量不超过 25%；张世英（CHANG SHIH-YING）博士拟通过集中竞价方式 减持不超过 16,000 股（含本数），占公司总股本的比例不超过 0.0035%，占其本 人本次减持前所持有公司股份数量不超过 25%。减持期间自 2025 年 6 月 24 日至 2025 年 9 月 23 日，减持价格将按照减持实施期间的市场价格确定。 迪哲（江苏 ...

Investment Rating - The report maintains a "Strong Buy" rating for the pharmaceutical sector, indicating a positive outlook for investment opportunities in this industry [2]. Core Insights - The pharmaceutical sector has shown resilience with a weekly increase of 1.27%, outperforming the CSI 300 index by 0.16 percentage points, ranking 11th among 31 sectors [7][26]. - The report highlights the potential recovery of the industry due to favorable policies and the gradual rebound of the hospital market, which was previously impacted by anti-corruption measures and centralized procurement [4][26]. - The focus on innovative therapies is expected to drive significant growth, with an emphasis on domestic BIC/FIC innovative drugs showing steady improvement in both quantity and quality [4][26]. Summary by Sections 1. Pharmaceutical Sector Performance - The pharmaceutical sector's weekly performance was +1.27%, with sub-sectors such as Traditional Chinese Medicine II (+1.73%), Medical Services (+1.45%), and Chemical Pharmaceuticals (+1.44%) showing notable gains [7][26]. 2. Key Company Ratings - Companies such as Aosaikang (002755.SZ) and Cloudtop New Medicine (01952.HK) received "Buy" ratings, while Renfu Pharmaceutical (600079.SH) and Dize Pharmaceutical (688192.SH) were rated as "Hold" [1][4]. 3. Notable Industry News - BeiGene initiated a head-to-head Phase III clinical trial for BGB-16673, a targeted BTK PROTAC drug, which has shown promising results in earlier trials [26][27]. - AbbVie received FDA approval for its c-Met targeted ADC drug, marking a significant milestone in the ADC product line [29][30]. 4. Investment Recommendations - The report recommends focusing on high-quality targets within the formulation sector, particularly companies with efficient management and strong product pipelines, such as Aosaikang and Dize Pharmaceutical [4][26].

金融界5月19日消息，A股三大指数收盘涨跌不一，上证科创板创新药指数 (科创新药，950161)平盘报 收，报0.0点，成交额0.0亿元。 数据统计显示，上证科创板创新药指数近一个月上涨0.15%，近三个月上涨15.81%，年至今上涨 24.30%。 据了解，上证科创板创新药指数从科创板中选取不超过30家创新药领域的上市公司证券作为指数样本， 以反映科创板中创新药上市公司证券的整体表现。该指数以2022年12月30日为基日，以1000.0点为基 点。 从指数持仓来看，上证科创板创新药指数十大权重分别为：百利天恒（10.7%）、百济神州 （10.04%）、艾力斯（9.31%）、泽璟制药（8.4%）、君实生物（7.59%）、特宝生物（5.83%）、荣昌 生物（4.39%）、迪哲医药（3.81%）、诺泰生物（3.52%）、益方生物（3.45%）。 从上证科创板创新药指数持仓的市场板块来看，上海证券交易所占比100.00%。 从上证科创板创新药指数持仓样本的行业来看，其他生物药品占比49.12%、药品制剂占比35.60%、制 药与生物科技服务占比11.83%、疫苗占比3.46%。 资料显示，指数样本每季度调整一次，样 ...

证券代码：688192 证券简称：迪哲医药 公告编号：2025-31 迪哲（江苏）医药股份有限公司 自愿披露关于多项血液瘤最新研究进展入选 2025 欧洲血液学协会（EHA）年会以及第 18 届国际恶性淋 巴瘤会议（ICML）报告的公告 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。 迪哲（江苏）医药股份有限公司（以下简称"公司"）将于今年 6 月举行的 血液学领域两大国际顶尖学术会议——2025 欧洲血液学协会（EHA）年会以及 第 18 届国际恶性淋巴瘤会议（ICML），公布其血液肿瘤管线中 8 项研究的最新 临床数据。公司核心产品高瑞哲®（通用名：戈利昔替尼胶囊）和 DZD8586 在淋 巴瘤领域的研究进展，自今年美国临床肿瘤学会（ASCO）年会以来，连续获得 三项口头报告。 一、关于高瑞哲®相关研究 高瑞哲®一项 II 期前瞻性多中心临床研究 JACKPOT26 的最新 2 年随访数据 入选本次 EHA 大会，并同时获 ICML 大会口头报告。该研究旨在评估高瑞哲® 用于经一线系统性治疗后缓解的外周 T 细胞淋巴瘤（ ...

Core Insights - The company will present the latest clinical data from eight studies in its hematologic oncology pipeline at the upcoming 2025 European Hematology Association (EHA) annual meeting and the 18th International Conference on Malignant Lymphoma (ICML) [1] - The core product, Goresir (generic name: Golixanib capsules), and DZD8586 have made significant research progress in the lymphoma field, receiving three oral presentations since the American Society of Clinical Oncology (ASCO) annual meeting this year [1] - The latest two-year follow-up data from the Phase II prospective multicenter clinical study JACKPOT26, evaluating Goresir for maintenance therapy in peripheral T-cell lymphoma (PTCL) after first-line systemic treatment, has been selected for presentation at the EHA conference and will also be presented orally at the ICML conference [1] - Two studies of DZD8586 have been consecutively selected for presentation at top international academic conferences including ASCO, EHA, and ICML [1]

Investment Rating - The investment rating for the company is maintained as "Buy" [5] Core Insights - The company's performance is driven by the expansion of medical insurance coverage for its key products, Shuwotini and Golixitini, leading to significant revenue growth [1][2] - The company is expected to see accelerated commercialization of its pipeline, with strong differentiation advantages [4] - The revenue forecast for 2025 to 2027 is projected at 7.53 billion, 12.59 billion, and 21.74 billion respectively, reflecting robust growth [4][9] Summary by Sections Performance Overview - In 2024, the company achieved sales revenue of 360 million, a year-on-year increase of 294.24%, with a significant impact from medical insurance price compensation affecting approximately 52 million of the revenue [1] - For Q1 2025, the company reported revenue of 160 million, a year-on-year increase of 96.32%, attributed to the implementation of the new national medical insurance catalog for its core products [1] Product Pipeline and Catalysts - Shuwotini received priority review from the FDA for its new drug application in January 2025, with expectations for approval [2] - Golixitini is set to be launched in June 2024, being the first selective JAK1 inhibitor for treating peripheral T-cell lymphoma, showing promising efficacy and safety [2] - DZD8586 and DZD6008 are innovative products in clinical trials, with data expected to be presented at the 2025 ASCO conference, indicating potential for further advancements [3] Financial Projections - The company forecasts significant revenue growth from 2025 to 2027, with expected revenues of 7.53 billion, 12.59 billion, and 21.74 billion respectively, driven by the commercialization of its key products [4][9] - The projected net profit for 2024 is 846 million, with a decline in subsequent years due to increased costs associated with product launches and development [9]

Core Viewpoint - The company is experiencing significant revenue growth driven by the inclusion of its key products, Shuwotini and Golixitini, in the new national medical insurance catalog starting January 1, 2025, which is expected to accelerate commercialization and data readouts [1][2][5]. Performance Summary - In 2024, the company achieved sales revenue of 360 million yuan, a year-on-year increase of 294.24%, with approximately 52 million yuan of this revenue impacted by price compensation to distributors [2]. - For Q1 2025, the company reported revenue of 160 million yuan, reflecting a year-on-year growth of 96.32%, primarily due to the official implementation of the new national medical insurance catalog for its core products [2]. Catalysts Summary - Shuwotini received priority review from the FDA for its new drug application in January 2025, targeting advanced NSCLC with EGFR Exon20ins mutations, and is expected to be approved as planned [3]. - Golixitini was approved in June 2024 for the treatment of relapsed or refractory peripheral T-cell lymphoma (PTCL) in adults, showing promising overall response rates and safety [3]. - DZD8586, a dual-target inhibitor for B-NHL, is expected to present clinical data at the 2025 ASCO conference, showcasing its efficacy and safety [4]. - DZD6008, a new selective EGFR TKI, is in clinical research and aims to address unmet clinical needs in NSCLC, with preliminary data also set to be reported at the 2025 ASCO conference [4]. Profit Forecast and Valuation - The company forecasts revenues of 753 million yuan, 1.259 billion yuan, and 2.174 billion yuan for 2025, 2026, and 2027 respectively, driven by the commercialization of Shuwotini and Golixitini [5].