Group 1 - On July 31, a block trade of 250,000 shares of Kewell was executed, with a transaction amount of 6.235 million yuan, accounting for 14.75% of the total trading volume for the day [1] - The transaction price was 24.94 yuan, which represents an 18.58% discount compared to the market closing price of 30.63 yuan [1]

Core Insights - Frontier Biopharmaceuticals (688221) reported a closing price of 22.42 yuan as of July 29, 2025, reflecting a 9.74% increase with a turnover rate of 12.58% and a trading volume of 471,400 lots, amounting to 1.023 billion yuan in transaction value [1] Financial Performance - For the first quarter of 2025, the company achieved total operating revenue of 28.3282 million yuan, representing a year-on-year growth of 14.93% - The net profit attributable to shareholders was 44.1215 million yuan, up 20.80% year-on-year - The net profit after deducting non-recurring gains and losses was 53.1457 million yuan, an increase of 15.22% year-on-year - The current ratio stood at 2.721, the quick ratio at 2.612, and the debt-to-asset ratio at 36.35% [1] Capital Flow - On the trading day, the net inflow of main funds was 63.2741 million yuan, accounting for 6.19% of the transaction value - Large orders saw a net inflow of 33.4589 million yuan, representing 3.27% of the transaction value, while small orders experienced a net outflow of 68.8571 million yuan, which is 6.73% of the transaction value [1] Company Overview - Frontier Biopharmaceuticals (Nanjing) Co., Ltd. was established in 2013 and is located in Nanjing, primarily engaged in the pharmaceutical manufacturing industry - The company has a registered capital of 3.74578653 billion yuan and a paid-in capital of 1.75 billion yuan - The legal representative of the company is Dong Xie [1][2] Investment and Intellectual Property - The company has made investments in 8 enterprises and participated in 29 bidding projects - It holds 30 trademark registrations and 20 patent registrations, along with 121 administrative licenses [2]

Core Viewpoint - The chemical pharmaceutical sector experienced a significant increase of 2.47% on July 29, with Nanjing Pharmaceutical leading the gains [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3609.71, up 0.33% [1] - The Shenzhen Component Index closed at 11289.41, up 0.64% [1] Group 2: Individual Stock Performance - Nanjing Pharmaceutical (681899) closed at 11.90, with a rise of 17.01% and a trading volume of 388,700 shares, totaling a transaction value of 417 million yuan [1] - Yuandong Biological (688513) closed at 65.92, up 15.45%, with a trading volume of 74,200 shares and a transaction value of 466 million yuan [1] - Microchip Biotech (688321) closed at 38.37, increasing by 12.85%, with a trading volume of 401,800 shares and a transaction value of 1.49 billion yuan [1] - Aoxiang Pharmaceutical (603229) closed at 10.54, up 10.02%, with a trading volume of 480,600 shares and a transaction value of 493 million yuan [1] - Asia-Pacific Pharmaceutical (002370) closed at 6.81, also up 10.02%, with a trading volume of 1,937,200 shares and a transaction value of 1.285 billion yuan [1] - Chenxin Pharmaceutical (603367) closed at 25.93, up 10.01%, with a trading volume of 160,000 shares and a transaction value of 413 million yuan [1] - Fuyuan Pharmaceutical (6801089) closed at 22.90, increasing by 9.99%, with a trading volume of 176,900 shares and a transaction value of 389 million yuan [1] - Nikan Pharmaceutical (688658) closed at 33.02, up 9.96%, with a trading volume of 118,700 shares and a transaction value of 376 million yuan [1] - Luoxin Pharmaceutical (002793) closed at 5.97, increasing by 9.94%, with a trading volume of 421,300 shares and a transaction value of 240 million yuan [1] - Frontier Biotech (688221) closed at 22.42, up 9.74%, with a trading volume of 471,400 shares and a transaction value of 1.023 billion yuan [1] Group 3: Capital Flow - The chemical pharmaceutical sector saw a net inflow of 1.295 billion yuan from main funds, while retail funds experienced a net outflow of 1.198 billion yuan [1] - Speculative funds recorded a net outflow of 97.108 million yuan [1]

Core Insights - The report maintains a positive outlook on small molecule drug conjugates (SMDCs) and related companies, highlighting their potential in cancer treatment due to their ability to enhance efficacy while reducing toxicity [1][5][17] - The report emphasizes the clinical advantages of SMDCs, including better tumor penetration, reduced toxicity to normal cells, and easier control over synthesis and costs compared to antibody-drug conjugates (ADCs) [5][11][12] - The report identifies domestic biopharmaceutical companies, particularly Affinivax, as leaders in the SMDC space, showcasing significant advancements in innovative cancer drug development [5][12][17] Industry Overview - The pharmaceutical and biotechnology sector has shown a relative price-to-earnings (P/E) ratio of 51.14 as of July 25, 2025, which is significantly higher than its historical low of 24.38, indicating a premium valuation compared to the broader market [19] - The report notes that the healthcare sector's valuation is 279% higher than the Shanghai Composite Index, reflecting strong investor interest and confidence in the industry [19] - Recent market performance indicates a 1.90% increase in the pharmaceutical and biotechnology sector from July 21 to July 25, 2025, ranking it 16th among 27 sub-industries [26][29] Company Focus - The report suggests monitoring companies involved in the SMDC space, including Affinivax, and those collaborating with them, such as Innovent Biologics and others, which are expected to benefit from the growing interest in innovative cancer therapies [5][17][18] - Specific companies highlighted for their innovative drug development capabilities include Innovent Biologics, Shunyi Pharmaceutical, and others, which are positioned to capitalize on the advancements in SMDC technology [5][18]

Group 1: Cotton and Astaxanthin Production - Cotton is not only an important raw material for textiles but also has potential in producing valuable astaxanthin, a natural antioxidant [1] - The Chinese Academy of Agricultural Sciences has developed engineered cotton that can synthesize astaxanthin using plant synthetic biology techniques [1] - Astaxanthin has applications in food, feed, pharmaceuticals, and cosmetics, enhancing the value of cotton from a single output to multifunctional high-value products [1] Group 2: Citrus and Diabetes Treatment - Citrus peels are being explored for their added value, with recent research indicating that components extracted from citrus can significantly enhance wound healing for diabetes patients, improving healing speed by 2.7 times [2] - The development of a natural hydrogel with antibacterial and anti-inflammatory properties addresses slow healing in diabetic wounds [2] Group 3: Peach Sweetness and Softening Genes - Researchers have identified the genetic basis for the sweetness of peaches and the genes responsible for fruit softening during ripening [3] - The discovery of the "slow-softening peach" gene could lead to the development of varieties that are longer-lasting, flavorful, and better suited for transport [3] Group 4: Advances in Livestock Genetics - The first single-cell transcriptome atlas of water buffalo has been constructed, providing valuable resources for functional genomics and molecular breeding in agricultural animals [3] - A new 50K breeding chip for Chinese Yellow Cattle has been developed, offering low-cost and high-accuracy selection for efficient breeding and conservation of local cattle breeds [3] Group 5: Agricultural Biotechnology Innovations - Recent agricultural research achievements include the release of a comprehensive soybean protein quantitative atlas and the establishment of a genotype database for tea tree varieties [4] - The integration of cutting-edge biotechnology in agriculture is expected to drive modernization and innovation in the sector [4]

Market Performance - The Sci-Tech Innovation Board (STAR Market) index rose by 1.17%, closing at 1032.84 points, with a total trading volume of 4.548 billion shares and a turnover of 141.659 billion yuan, resulting in a weighted average turnover rate of 2.53% [1] - Among the tradable stocks on the STAR Market, 470 stocks closed higher, with 3 stocks increasing by over 10% and 36 stocks rising between 5% and 10%. Conversely, 111 stocks closed lower [1] - The highest turnover rate was recorded by Xinyuren at 20.25%, closing up by 1.89%, with a transaction amount of 340 million yuan. Other notable stocks included Qingyun Technology, which closed down by 2.81% with a turnover rate of 18.72% [1][3] Sector Analysis - In terms of sector performance, the pharmaceutical and biotechnology sector had the highest number of stocks with a turnover rate exceeding 5%, totaling 29 stocks. The electronics and machinery equipment sectors followed with 21 and 12 stocks, respectively [2] - Among high turnover stocks, 48 experienced net inflows of main funds, with the highest net inflows recorded for Aibo Medical (99.31 million yuan), Maolai Optical (78.81 million yuan), and ST Nuotai (67.05 million yuan) [2] Leverage Fund Movements - A total of 76 stocks with high turnover rates saw net purchases from leveraged funds, with significant increases in financing balances for Shangwei New Materials (247 million yuan), Dingtong Technology (203 million yuan), and Shijia Photon (174 million yuan) [2]

Meeting Details - The third meeting of the fourth Supervisory Board of Frontier Biopharmaceuticals (Nanjing) Co., Ltd. was held on July 18, 2025, via telecommunication voting, with all three supervisors present [1] - The meeting was chaired by Mr. Jiang Zhizhong, and the notice was sent to all supervisors on July 14, 2025, via email [1] Resolution Summary - The Supervisory Board approved the proposal to temporarily use up to RMB 200 million (including RMB 200 million) of idle funds raised from the initial public offering to supplement working capital, with a usage period not exceeding 12 months from the date of board approval [1] - The company will ensure that the use of these funds does not affect the progress of the investment projects funded by the raised capital and will return the funds to the dedicated account if the usage progresses faster [1] - The funds will only be used for business expansion and daily operations related to the main business and will not be used for stock issuance, trading, or any activities that change the intended use of the raised funds [1][2] Voting Results - The voting results for the proposal were 3 votes in favor, 0 votes against, and 0 abstentions [2]

中信证券股份有限公司（以下简称"中信证券"或"保荐机构"）作为正在 履行前沿生物药业（南京）股份有限公司（以下简称"前沿生物"或"公司"） 持续督导工作的保荐机构，根据《证券发行上市保荐业务管理办法》《上市公司 募集资金监管规则》《上海证券交易所科创板上市公司自律监管指引第 1 号—— 规范运作》等有关规定，对前沿生物使用部分闲置募集资金暂时补充流动资金 的事项进行了审慎核查，核查情况如下： 一、募集资金基本情况 中信证券股份有限公司 关于前沿生物药业（南京）股份有限公司 使用部分闲置募集资金暂时补充流动资金的核查意见 根据中国证券监督管理委员会出具的《关于同意前沿生物药业（南京）股份 有限公司向特定对象发行股票注册的批复》（证监许可〔2022〕1823 号），同意公 司向特定对象发行股票的注册申请。公司本次向特定对象发行人民币普通股 14,818,653 股，每股发行价格为人民币 13.51 元，募集资金总额为人民币 20,020.00 万元；扣除不含税发行费用人民币 453.32 万元，募集资金净额为人民币 19,566.68 万元。上述募集资金到位情况已经毕马威华振会计师事务所（特殊普通合伙）审 验并出 ...

证券代码：688221 证券简称：前沿生物 公告编号：2025-020 前沿生物药业（南京）股份有限公司 关于使用部分闲置募集资金暂时补充流动资金的公告 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。 重要内容提示： 前沿生物药业（南京）股份有限公司（以下简称"前沿生物"或"公司"） 于 2025 年 7 月 18 日召开第四届董事会第三次会议及第四届监事会第三次会议审 议通过了《关于使用部分闲置募集资金暂时补充流动资金的议案》，同意公司在 确保不影响募集资金投资项目建设进度的前提下，使用不超过人民币 2 亿元（含 2 亿元）的闲置首次公开发行股票募集资金暂时补充流动资金，使用期限为公司 董事会批准该议案之日起不超过 12 个月。现将相关情况公告如下： 一、 募集资金基本情况 根据中国证券监督管理委员会《关于同意前沿生物药业（南京）股份有限公 司首次公开发行股票注册的批复》（证监许可[2020]2232 号文），公司获准向社 会公开发行人民币普通股 8,996 万股，每股发行价格为人民币 20.50 元，共募集 资金 18 ...

关于第四届监事会第三次会议决议的公告 监事会认为：公司在确保不影响募集资金投资项目建设进度的前提下，使用 不超过人民币 2 亿元（含 2 亿元）的闲置首次公开发行股票募集资金暂时补充流 动资金，使用期限为公司董事会批准该议案之日起不超过 12 个月，到期前归还 募集资金专用账户；如果募集资金使用进度加快时，公司将及时、足额地将该部 分资金归还至募集资金专用账户，不会影响募集资金投资项目的正常实施；本次 使用部分闲置募集资金暂时补充流动资金仅限用于公司的业务拓展、日常经营等 与主营业务相关的生产经营使用，不得通过直接或间接的安排用于新股配售、申 购，或者用于股票及其衍生品种、可转换公司债券等交易，不存在改变或变相改 变募集资金使用用途的情形。 证券代码：688221 证券简称：前沿生物 公告编号：2025-019 本公司监事会及全体监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。 前沿生物药业（南京）股份有限公司 一、监事会会议召开情况 前沿生物药业（南京）股份有限公司（以下简称"公司"）第四届监事会第 三次会议通知于2025年7月14日以电子 ...