证券之星消息，10月27日鹏华基金旗下苏俊杰管理的鹏华上证科创板100交易型开放式指数基金公布三季报，近1年净值增长率49.82%。与上一季 度相比，该基金前十大重仓股新增东芯股份，源杰科技，云天励飞；其中华虹公司持仓占比3.74%，为该基金第一大重仓股；泽璟制药，纳芯 微，国盾量子等退出前十大重仓股；详细数据如下： | 重合股 | 增减仓 | la s | 持有总数 | 持仓市值 | | --- | --- | --- | --- | --- | | 东芯股份 (688110) | 新进十大 | | 187.2万股 | 2.0亿元 | | 源杰科技 | | | | | | (688498) | 新进十大 | 20 | 36.25万股 | 1.56亿元 | | 云大励飞 (688343) | 新进十大 | | 150.19万股 | 1.33亿元 | | 华虹公司 | 減仓 | -1.75% | 246.35万股 | 2.82亿元 | | (688347) | | | | | | 百济神州 (688235) | 減仓 | -1.89% | 69.59万股 | 2.14亿元 | | 睿创微纳 (688002) | ...

医药生物 2025 年 10 月 26 日 投资评级：看好（维持） 行业走势图 单击或点击此处输入文字。 数据来源：聚源 相关研究报告 《MFN 定价进展超预期，关注创新药 全 球 定 价 动 态 — 行 业 周 报 》 -2025.10.19 《体内 CAR-T 交易迭起，关注国内投 资机会—行业周报》-2025.10.12 《关注基药目录调整，首推方盛制药 —行业周报》-2025.9.28 中国新药闪耀 2025ESMO 大会，推荐相关投资机会 ——行业周报 | 余汝意（分析师） | 余克清（分析师） | 聂媛媛（联系人） | | --- | --- | --- | | yuruyi@kysec.cn | yukeqing@kysec.cn | nieyuanyuan@kysec.cn | | 证书编号：S0790523070002 | 证书编号：S0790525010002 | 证书编号：S0790124050002 | 2L EGFR 突变 NSCLC：走出 TKI 耐药困境，总生存期首次明确获益 芦康沙妥珠单抗是全球首个在 2L EGFR TKI 耐药 NSCLC 中达成 OS、PFS 双 获益的药 ...

版史 行业 型及五 l笑么 == = 2025 年 10 月 26 日 相关研究 《本周申万医药生物指数下跌 2.5%，关注 2025 ESMO 会议 -- 医药行业周报 (2025/10/13-2025/10/17)》 2025/10/19 《本周申万医药生物指数下跌 1.2%，关注 三季报发布 ——医药行业周报 (2025/10/9-2025/10/10)》 2025/10/12 证券分析师 张静含 A0230522080004 zhanqjh@swsresearch.com 陈田甜 A0230524080013 chentt@swsresearch.com 联系人 陈田甜 (8621)23297818× chentt@swsresearch.com 申万宏源研究微信服务号 本期投资提示： 市场表现：本周申万医药生物指数上涨 0.6%，同期上证指数上涨 2.9%，万得全 A（除 金融石油石化）上涨 3.7%。本周医药生物指数在 31 个申万一级子行业中表现排名第 25。各三级板块涨跌幅为: 原料药（+0.3%）、化学制剂（-0.4%）、中药（- 0.8%）、血液制品（+0.9%）、疫苗（+0.8%）、其他 ...

行 业 研 究 / 行 业 点 评 行 业 及 产 业 医药生物 2025 年 10 月 26 日 本 周 申 万 医 药 生 物 指 数 上 涨 《本周申万医药生物指数下跌 2.5%，关注 2025 ESMO 会议 ——医药行业周报 （2025/10/13-2025/10/17）》 2025/10/19 《本周申万医药生物指数下跌 1.2%，关注 三季报发布 ——医药行业周报 （2025/10/9-2025/10/10）》 2025/10/12 相关研究 证券分析师 张静含 A0230522080004 zhangjh@swsresearch.com 陈田甜 A0230524080013 chentt@swsresearch.com 联系人 陈田甜 (8621)23297818× chentt@swsresearch.com 本研究报告仅通过邮件提供给 中庚基金 使用。1 本期投资提示： ⚫ 市场表现：本周申万医药生物指数上涨 0.6%，同期上证指数上涨 2.9%，万得全 A（除 金融石油石化）上涨 3.7%。本周医药生物指数在 31 个申万一级子行业中表现排名第 25。各三级板块涨跌幅为：原料药（+0.3 ...

2025年6月，为增强对科技创新的适配度和包容性，科创板正式设立"科创成长层"。对于这项意义重大 的改革，科创板首家未盈利企业泽璟制药董事长、总经理盛泽林表示，"自登陆科创板以来，泽璟制药 已经成功实现3个新药产品获批上市销售，新药研发成果多次登上国际学术舞台，进入快速发展阶段； 科创板承载着我国资本市场探索支持新质生产力发展、推动科技创新路径的重要责任，科创板成长层的 设置更为这一责任的实现提供了重要支撑。" 科创板第五套上市标准，作为境内资本市场允许无收入、未盈利的企业发行上市的首次探索，六年多 来，不仅助力众多创新药企突破资金瓶颈、加速研发创新药，更带动了创新药领域的投资热潮，为中国 创新药产业的爆发式增长注入了强大的资本助力。数据显示，2019年至今，中国创新药产业在一、二级 市场的累计融资规模已超过万亿元。在资本活水的浇灌下，创新药研发活动迎来活跃期。 此外，今年以来，这批企业积极推动多单出海交易落地，潜在交易总额合计近50亿美元，进一步反映出 国际医药市场对科创板科创成长层创新药力量的肯定。(完)【编辑:曹子健】 从经营业绩来看，这批创新药企正加速从研发投入期迈向商业化收获期，2024年合计实现营 ...

Core Insights - The article highlights the significant performance of certain funds in the third quarter, particularly the "Yongying Technology Smart Selection" fund, which achieved a remarkable 194% increase, making it the top-performing fund of the year [1][2] - The report indicates a substantial growth in fund size, with "Yongying Technology Smart Selection" increasing from 1.166 billion to 11.521 billion yuan, nearly a ninefold increase in a single quarter [2] - The article also discusses the ongoing optimism in the innovative pharmaceutical sector, with funds like "Great Wall Pharmaceutical Industry Selection" showing over 100% growth [1][4] Fund Performance - "Yongying Technology Smart Selection" fund's top holdings include leading optical module stocks such as "Yizhongtian" (Xinyi Sheng, 300502), Zhongji Xuchuang (300308), and Tianfu Communication (300394), which significantly contributed to its net value [2] - The fund's share count surged from 700 million to 3.466 billion, resulting in a profit of 4.715 billion yuan for investors in the third quarter [2] - The "Great Wall Pharmaceutical Industry Selection" fund also saw its size grow from 1.132 billion to 1.790 billion yuan, with a share increase from 678 million to 932 million [5] Sector Insights - The global cloud computing industry remains a focal point, with AI model valuations increasing and a notable 100% quarter-on-quarter growth in token numbers [3] - The innovative pharmaceutical sector continues to attract attention, with funds maintaining high stock positions despite recent market adjustments [6][8] - The article suggests that the technology and pharmaceutical sectors may still have upward potential, although careful stock selection is advised [8] Future Outlook - The article indicates that the technology sector, particularly AI and cloud computing, is expected to see increased investment, with potential for new opportunities in the industry chain [9] - The innovative pharmaceutical sector is projected to strengthen its global competitiveness, supported by upcoming industry conferences and positive data trends [8] - The article emphasizes the importance of not solely relying on past performance to predict future outcomes in the cloud computing sector, highlighting the need for caution [9]

Group 1 - The core viewpoint of the news is that Zai Lab's stock has experienced fluctuations, with a notable increase in share price this year, but recent declines in the short term [1][2] - As of October 21, Zai Lab's stock price was 100.85 CNY per share, with a market capitalization of 26.696 billion CNY [1] - The company has seen a year-to-date stock price increase of 61.85%, but a decline of 20.90% over the past 60 days [1] Group 2 - For the first half of 2025, Zai Lab reported a revenue of 376 million CNY, representing a year-on-year growth of 56.07%, while the net profit attributable to shareholders was -72.8035 million CNY, a decrease of 9.42% [2] - As of June 30, 2025, the number of shareholders increased by 16.75% to 8,795, while the average circulating shares per person decreased by 14.35% to 30,097 shares [2] - The top ten circulating shareholders include several funds, with notable changes in holdings among them, such as an increase in shares held by China Europe Medical Health Mixed A and a decrease in shares held by Guangfa Medical Care Stock A [2]

NO.1 复宏汉霖ADC 药物HLX43获FDA孤儿药资格认定 10月20日，复宏汉霖宣布，公司创新型程序性死亡-配体1（PD-L1）抗体偶联药物（ADC）注射用 HLX43已获得美国食品药品监督管理局（FDA）授予的孤儿药资格认定，用于胸腺上皮肿瘤（TETs） 的治疗。 获得FDA孤儿药资格认定的药物将享有包括但不限于：临床试验费用的税收抵免；免除新药申请费；获 批后七年的市场独占权等一系列政策支持，以加速其开发进程，早日惠及患者。 点评：此次获FDA授予孤儿药资格认定是HLX43全球开发进程中的又一重要里程碑，意味着该产品在 胸腺上皮肿瘤领域的突破性治疗潜力获得国际权威机构认可，有望进一步缩短HLX43的全球开发周 期，加速填补该疾病ADC治疗的空白。 NO.2 泽璟制药：盐酸吉卡昔替尼片治疗强直性脊柱炎III期临床试验达主要疗效终点 10月20日，英科医疗公告称，公司全资子公司英科医疗国际拟与Warburg PincusGlobal Growth 15 GP, L.P.（以下简称华平投资）签署认购协议以自有资金参与投资Warburg Pincus Global Growth15, L.P.（以 下简称合 ...

Core Viewpoint - Suzhou Zejing Biopharmaceutical Co., Ltd. announced that its self-developed drug, JAK inhibitor Jikaxitinib (previously known as JAK inhibitor Jackitinib), has achieved the primary efficacy endpoint in a Phase III clinical trial for treating active ankylosing spondylitis, demonstrating statistical significance (p < 0.0001) [2][3] Group 1: Drug and Clinical Trial Information - The Phase III clinical trial, titled "Efficacy and Safety of Jikaxitinib in Patients with Active Ankylosing Spondylitis," was conducted at 31 hospitals, enrolling 265 patients who were randomly assigned to either the Jikaxitinib 100mg BID group or the placebo group [3] - The primary efficacy endpoint was the percentage of patients achieving the ASAS 40 response criteria after 16 weeks of treatment, with the Jikaxitinib group significantly outperforming the placebo group [3] - The safety and tolerability of Jikaxitinib in treating active ankylosing spondylitis were reported to be good, with detailed data to be presented at upcoming academic conferences [3] Group 2: Future Development and Regulatory Process - The company plans to expedite the market application process for Jikaxitinib for the treatment of active ankylosing spondylitis following the successful trial [2][3] - The company is also conducting an extended Phase III trial (protocol number ZGJAK030) for Jikaxitinib in this indication [4] - Previous Phase II trial results for Jikaxitinib were published in the international journal "RMD Open" on January 2, 2025 [4] Group 3: Drug Background and Market Context - Jikaxitinib is a novel dual inhibitor of JAK and ACVR1, classified as a first-class new drug, with the company holding independent intellectual property rights [5] - The NDA application for Jikaxitinib to treat myelofibrosis has been approved, making it the first domestic JAK inhibitor approved for this indication [5] - The drug is also under investigation for other indications, including moderate to severe atopic dermatitis and non-segmental vitiligo in adolescents and adults [6] Group 4: Disease Context - Ankylosing spondylitis (AS) is a chronic inflammatory disease primarily affecting the sacroiliac joints and spine, with a prevalence rate in China estimated at 0.3%, affecting approximately 4 million people [7] - Current treatment options for AS include NSAIDs, biological DMARDs, and JAK inhibitors, with JAK inhibitors providing a new oral treatment option for patients who do not respond to or cannot tolerate biological DMARDs [7] - Currently, only three JAK inhibitors have been approved in China for treating active ankylosing spondylitis: Tofacitinib, Upadacitinib, and Ivarmacitinib [7]

证券代码：688266 证券简称：泽璟制药 公告编号：2025-041 苏州泽璟生物制药股份有限公司 关于自愿披露盐酸吉卡昔替尼片治疗活动性强直性 脊柱炎的 III 期临床试验达到主要疗效终点的公告 《盐酸杰克替尼片治疗活动性强直性脊柱炎患者的有效性和安全性的多中 心、随机、双盲、安慰剂平行对照 III 期临床试验》（方案编号：ZGJAK029）在 上海交通大学医学院附属仁济医院等 31 家医院开展，符合方案要求的 265 例活 动性强直性脊柱炎患者随机入组，分配到盐酸吉卡昔替尼片 100mg Bid 组或安慰 剂片组，经过对该项试验中完成 16 周治疗的受试者数据进行分析后，结果显示 主要疗效终点，即治疗 16 周时达到国际脊柱关节炎评估协会（ASAS）40（ASAS 40）应答标准的受试者百分率，盐酸吉卡昔替尼片 100mg Bid 组显著优于安慰剂 组，达到统计显著性（p<0.0001）。安全性方面，盐酸吉卡昔替尼片治疗活动性 强直性脊柱炎患者的安全性与耐受性良好。有关该项临床试验的详细数据，将在 后续相关学术会议上公布。公司将加快推进盐酸吉卡昔替尼片治疗活动性强直性 脊柱炎患者适应症的上市进程。 目前 ...