Investment Rating - The investment rating for the healthcare industry is "Positive" and maintained [14] Core Insights - The funding levels for Chinese innovative pharmaceutical companies are increasing, leading to a gradual improvement in the research and development (R&D) investment sentiment within the industry. This is expected to usher in a new cycle of prosperity for the innovative drug industry chain [5][12] - The trend of external business development (BD) is likely to benefit the domestic early-stage research industry significantly, as new business models allow early-stage projects to become tradable and monetizable assets, enhancing R&D investment returns [13] Summary by Sections Innovative Chain Development Review - Before 2020, multiple factors converged to initiate a significant rise in China's innovative drug sector, leading to the rapid development of the innovative chain, including CXO and life sciences services [10][30] - From 2020 to the first half of 2022, the global public health crisis accelerated capital inflow into the biopharmaceutical sector, resulting in high demand and a leap in the innovative chain segment, which also triggered a wave of IPOs and substantial supply-side expansion [10][39] - The second half of 2022 to 2024 saw a transition from a heated to a cooling phase, with a significant shift in supply-demand dynamics leading to industry internal competition and pressure on revenues and profit margins [10][54][57] Improvement in R&D Investment Sentiment - Starting from 2025, the R&D investment sentiment in China's innovative drug sector is expected to improve, with companies experiencing increased funding levels. The total amount raised through IPOs and additional offerings in 2025 is projected to reach 201.5 billion yuan, a 145% year-on-year increase [11][62] - The potential milestone payments from external BD are expected to reach 880.5 billion yuan in 2025, marking a 185.9% year-on-year increase, indicating a robust funding environment for innovative drug companies [11] Benefits to Early-stage Research Industry - The new external BD business model enhances the R&D investment return rates for Chinese innovative drug companies, thereby increasing their willingness to invest in R&D [11][13] - The early-stage research industry, including drug discovery CROs and clinical trial services, is expected to benefit significantly from the external BD trend, with leading companies in these segments poised for rapid growth [13]

专题：交易提示 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！ 【停牌】 002231 *ST奥维（维权） 300666 江丰电子 300344 *ST立方（维权） 【复牌】 *ST奥维：收到终止上市事先告知书股票于1月30日起停牌 无 【品大事】 美年健康：拟参与棒杰股份预重整 美年健康（002044）公告，公司拟报名参与浙江棒杰控股集团股份有限公司（简称"棒杰股份"）重整投 资人的公开招募，并指定下属全资子公司美年大健康为重整受让主体取得棒杰股份的控制权，成为棒杰 股份重整完成后的控股股东。是否具有参与资格以及最终能否成为重整投资人尚存在不确定性。 白银有色（维权）：公司黄金、白银产品的收入占总营业收入比重较低 白银有色（601212）发布股票交易异常波动及严重异常波动公告称，公司黄金、白银产品的收入占总营 业收入的比重较低。2025年上半年，公司营业收入445.59亿元，销售黄金产品收入83.18亿元，占公司营 业收入的比重18.67%，销售白银产品收入20.23亿元，占公司营业收入的比重4.54%。 天顺风能：决定对六家全资子公司实施长期停产安排 天顺风能（002531）公告 ...

证券代码：688265 证券简称：南模生物 公告编号：2026-003 上海南方模式生物科技股份有限公司 第四届董事会第五次会议决议公告 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。 一、董事会会议召开情况 上海南方模式生物科技股份有限公司（以下简称"公司"）第四届董事会第五次会议于2026年1月29日以 现场结合通讯方式召开。本次会议的通知已于2026年1月26日以电子邮件方式送达全体董事。本次会议 由董事长费俭先生召集并主持，会议应参会董事11人，实际出席董事11人，其中独立董事4人，公司高 级管理人员列席了会议。本次会议的召集、召开符合《中华人民共和国公司法》等法律法规及《上海南 方模式生物科技股份有限公司章程》的相关规定。 二、董事会会议审议情况 本次会议以记名投票方式表决，审议并通过了以下议案： 1、审议通过《关于使用自有闲置资金进行现金管理的议案》 表决结果：同意11票，反对0票，弃权0票 2、审议通过《关于补选公司第四届董事会非独立董事的议案》 鉴于公司董事杨利华女士辞去公司第四届董事会非独立董事职务，为保 ...

（编辑 王雪儿） 证券日报网讯 1月29日，南模生物发布公告称，公司董事会于2026年1月29日收到非独立董事杨利华女 士的书面辞职报告，杨利华女士因工作调整原因申请辞去公司非独立董事职务。辞任后，杨利华女士不 再担任公司任何职务；同日，公司召开第四届董事会第五次会议，审议通过了《关于补选公司第四届董 事会非独立董事的议案》，同意提名张书林先生为公司第四届董事会非独立董事候选人，任期自公司 2026 年第二次临时股东会审议通过之日起至第四届董事会任期届满之日止。 ...

证券日报网讯1月29日，南模生物发布公告称，公司预计2025年年度实现营业收入为40，000.00万元至 43，000.00万元；归属于母公司所有者的净利润为2，400.00万元至3，400.00万元。 ...

Group 1 - Meinian Health plans to participate in the restructuring of Zhejiang Bangjie Holdings, aiming to become the controlling shareholder after the completion of the restructuring [3] - Baiyin Nonferrous Metals reported that the revenue from gold and silver products accounted for a low proportion of total operating income, with gold sales contributing 18.67% and silver sales 4.54% in the first half of 2025 [4] - Tiens Wind Power decided to implement a long-term production suspension for six wholly-owned subsidiaries to optimize resource allocation and focus on core businesses [5] Group 2 - Tongling Nonferrous Metals indicated significant uncertainty in the price fluctuations of its main products, with a low self-sufficiency rate for copper concentrate posing supply stability risks [6] - *ST Aowei received a notice of termination of listing due to its market capitalization falling below 500 million yuan for twenty consecutive trading days [7] - Foton Motor expects a net profit increase of approximately 1551% year-on-year for 2025, driven by sales growth in new energy vehicles and overseas markets [9] Group 3 - Beimo High-tech anticipates a net profit increase of 1076.16% to 1261.87% for 2025, supported by cost control and reduced credit impairment losses [10] - Zhongke Sanhuan forecasts a net profit growth of 566.23% to 899.35% for 2025, attributed to technological innovation and improved operational efficiency [12] - Wancheng Group expects a net profit increase of 222.38% to 266.94% for 2025, driven by growth in its retail business and improved sales margins [13] Group 4 - Huayi Technology anticipates a net profit increase of 191.52% to 330.34% for 2025, benefiting from product optimization and cost reduction measures [14] - Nanmo Biology expects a net profit growth of 269.49% to 423.44% for 2025, supported by increased revenue in the biopharmaceutical sector and improved cost control [15] - Baiao Saitu forecasts a net profit increase of 384.26% to 443.88% for 2025, driven by expansion in overseas markets and recovery in the domestic biopharmaceutical industry [16] Group 5 - Hailanxin expects a net profit increase of 387.47% to 631.2% for 2025, supported by advancements in technology and increased market share in marine observation [17] - Panjiang Co. anticipates a net profit growth of 205.3% to 264.83% for 2025, driven by increased coal production and reduced costs [18] - Huaguang New Materials expects a net profit increase of 104.67% to 141.88% for 2025, with significant growth in the electronic sector [20] Group 6 - Guo Sheng Securities forecasts a net profit increase of 25.44% to 67.25% for 2025, supported by active capital market participation and growth in various business segments [25] - Shengyi Technology expects a net profit growth of 87% to 98% for 2025, driven by increased sales of copper-clad laminates [26] - Sifutian anticipates a net loss of 30 million to 45 million yuan for 2025, although this represents a significant reduction in losses compared to the previous year [27] Group 7 - Maanshan Steel expects a net loss of 1.9 billion to 2.5 billion yuan for 2025, with a substantial reduction in losses compared to the previous year [28] - Shennong Seed Industry forecasts a net profit of 90 million to 120 million yuan for 2025, marking a turnaround from previous losses [30] - Jifeng Co. anticipates a net profit of 410 million to 495 million yuan for 2025, achieving a turnaround from losses [31]

生益电子：2025年净利润同比预增331%-356% 1月29日晚，生益电子(688183)发布业绩预告，预计2025年归属于上市公司股东的净利润为14.31亿元至 15.13亿元，同比增加331.03%至355.88%。 泰格医药：2025年净利润同比预增105%-204% 1月29日晚，泰格医药(300347)发布业绩预告，预计2025年归属于上市公司股东的净利润为8.30亿-12.30 亿元，比上年同期增长105%-204%。 顺博合金：2025年净利润同比预增222.96%-315.23% 1月29日晚，顺博合金(002996)发布业绩预告，预计2025年归属于上市公司股东的净利润为2.10亿-2.70亿 元，比上年同期增长222.96%-315.23%。 恒瑞医药：注射用卡瑞利珠单抗联合甲磺酸阿帕替尼片新适应症上市许可申请获受理 1月29日晚，恒瑞医药(600276)发布公告称，公司及子公司苏州盛迪亚生物医药有限公司收到国家药监 局下发的《受理通知书》，公司创新药注射用卡瑞利珠单抗联合甲磺酸阿帕替尼片新适应症的上市许可 申请获受理。该适应症为注射用卡瑞利珠单抗联合甲磺酸阿帕替尼和经动脉化疗栓塞术（T ...

智通财经APP讯，南模生物(688265.SH)发布公告，公司预计2025年年度实现归属于母公司所有者的净 利润为2400万元至3400万元，与上年同期(法定披露数据)相比，将增加1,750.45万元至2,750.45万元，同 比变动比率为269.49%至423.44%。 ...

（记者 曾健辉） 每经AI快讯，南模生物1月29日晚间发布业绩预告，预计2025年年度实现归属于母公司所有者的净利润 为2400万元~3400万元，与上年同期相比，将增加1750.45万元~2750.45万元，同比变动比率为 269.49%~423.44%。业绩变动主要原因是，主营业务影响。报告期内国内生物医药行业出现回暖迹象， 公司工业端营业收入较上年同期增加；通过调整笼位布局、控制采购价格、优化业务流程等措施持续加 强成本管控和提高运营效率。毛利率同比上升，成为公司净利润增长的核心支撑。非经营性损益的影 响。报告期内政府补助等非经常性损益同比有所上升。 每经头条（nbdtoutiao）——水贝黄金平台"杰我睿"兑付危机调查：40倍杠杆对赌，金价越涨平台越 亏！老板自称"还在深圳"，投资者：兑付方案本金打两折，无法接受 ...

证券代码：688265 证券简称：南模生物 公告编号：2026-004 上海南方模式生物科技股份有限公司 关于非独立董事离任暨补选非独立董事的公告 为保证公司董事会的规范运作，公司于 2026 年 1 月 29 日召开第四届董 事会第五次会议，审议通过了《关于补选公司第四届董事会非独立董事的议案》， 同意提名张书林先生（简历详见附件）为公司第四届董事会非独立董事候选人， 任期自公司 2026 年第二次临时股东会审议通过之日起至第四届董事会任期届满 之日止。 一、董事离任情况 (一) 提前离任的基本情况 | | 离任职 | | | 原定任期 | | 离任 | 是否继续在上 | 具体职 | 是否存在未 履行完毕的 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 姓名 | 务 | 离任时间 | | 到期日 | | 原因 | 市公司及其控 | 务（如 | | | | | | | | | | 股子公司任职 | 适用） | 公开承诺 | | 杨利华 | 非独立 | 2026 年 | 1 | 2028 年 | 9 | 工作 | 否 | 不适 ...