9月1日，泽璟制药涨5.32%，截至发稿，报107.44元/股，成交2.09亿元，换手率0.74%，总市值284.40亿 元。 截至发稿，李涛累计任职时间1年251天，现任基金资产总规模2924.58万元，任职期间最佳基金回报 12.22%， 任职期间最差基金回报11.08%。 资料显示，苏州泽璟生物制药股份有限公司位于江苏省昆山市玉山镇晨丰路262号，成立日期2009年3月 18日，上市日期2020年1月23日，公司主营业务涉及化学新药及生物新药的研发、生产及销售。主营业 务收入构成为：药品99.97%，医药中间体及原辅料0.02%，资产租赁0.00%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 从基金十大重仓股角度 数据显示，中国路博迈基金旗下1只基金重仓泽璟制药。路博迈中国医疗健康股票发起A（020142）二 季度持有股数9900股，占基金净值比例为3.64%，位居第十大重仓股。根据测算，今日浮盈赚取约5.38 万元。 路博迈中国医疗健康股票发起A（02014 ...

Group 1: Company Highlights - Mindray Medical launched the world's first clinically implemented critical care AI model and established an animal healthcare subsidiary [1] - Jieshun Technology's cloud-managed SaaS service increased to 16,600 lanes, with software and cloud service revenue reaching 125 million yuan, a year-on-year growth of 26.11% [1] - State Grid Information Technology reported a revenue of 3.525 billion yuan, a decrease of 4.55% year-on-year, while its virtual power plant business is being applied in multiple cities [2] - Inke Recycling focuses on high-value applications of recycled plastics, with significant growth in non-European markets and a projected dividend of 1.00 yuan per 10 shares [3] - ZaiJing Pharmaceutical achieved a revenue of 376 million yuan, a 56% increase, driven by sales growth of its drugs [4] - Tianzhihang reported a revenue of approximately 125 million yuan, a year-on-year increase of 114.89%, with significant growth in orthopedic surgical robot sales [5] - Aibo Medical's revenue reached 787 million yuan, a 14.72% increase, with a gross margin of 65.25% [6] - Mankalon's strategy focuses on expanding its presence in core urban areas and enhancing profitability of franchise stores [7] - Oulu Tong's revenue reached 2.12 billion yuan, a 32.59% increase, with data center power business revenue growing by 94.30% [8] - Sun Paper's special paper project is operational, with plans for further production capacity expansion [9] - Taili Technology is enhancing its market penetration and focusing on customized material solutions for various industries [10] Group 2: Financial Performance - Jieshun Technology's parking asset operation revenue grew by 49.86%, with new orders totaling 677 million yuan [1] - State Grid Information Technology's net profit decreased by 11.01% due to increased corporate income tax [2] - Inke Recycling's non-U.S. market revenue grew by 31.15% year-on-year [3] - ZaiJing Pharmaceutical's new drug approvals are expected to boost future sales [4] - Tianzhihang's orthopedic robot surgeries exceeded 22,000 cases, indicating strong market demand [5] - Aibo Medical's second-quarter revenue was 430 million yuan, a 14.44% increase year-on-year [6] - Oulu Tong's R&D expenses increased by 28.26%, reflecting investment in innovation [8] - Sun Paper's projects are expected to enhance its competitive position in the market [9]

Group 1: Company Highlights - Mindray Medical has launched the world's first clinically implemented critical care large model, named Qiyuan Critical Care Model, and established a subsidiary for animal healthcare [1] - In the field of medical imaging, Mindray's "Ruiying Cloud++" has partnered with DeepSeek to officially release the "Ruiying·AI+" solution [1] - Zai Lab achieved a revenue of 376 million yuan in the first half of 2025, representing a year-on-year growth of 56%, driven by increased drug sales [1] - Zai Lab's recombinant human thrombin has been included in medical insurance, boosting sales, and the company is advancing multiple clinical trials for various tumors [1] - Zai Lab's NDA for Jikaxitini tablets for severe alopecia has been accepted, and several Phase III trials in the autoimmune field are under observation [1] - Dia Group reported a revenue of 786 million yuan in the first half of 2025, a year-on-year increase of 0.97%, with a net profit of 76 million yuan, up 131.61% [2] - The average sales of upgraded stores in the red gold theme have increased by approximately 36% year-on-year [2] - Dia Group plans to implement an equity incentive plan annually over four years and is expanding its presence in overseas markets, particularly in Paris and the U.S. [2] Group 2: Institutional Overview - Tongxin Investment, established in January 2014, is a distinctive sunshine private equity firm with a registered capital of 10 million yuan [3] - The firm is recognized for being one of the few sunshine private equity firms founded by top analysts from New Fortune and has a strong focus on consumer investment [3]

根据市场公开信息及8月29日披露的机构调研信息，知名私募盘京投资近期对5家上市公司进行了调研，相关名单如下： 1）立讯精密 （上海盘京投资管理中心(有限合伙)参与公司电话会议） 个股亮点：智能眼镜类产品是公司消费电子业务重要的产品线；公司系统集成类产品包括 AI 眼镜、 AR/VR/XR 眼镜、智能手环、智能手表 等。；江苏立讯机器人有限公司是公司控股子公司。 机构简介： 盘京投资成立于2016年，是中国优秀的私募证券投资基金管理人之一，在中国证券投资基金业协会登记注册的私募证券投资基金管理人编号为 P1034296。公司由多位长期业绩卓越、并且具备相同价值观的资深投资人创办，是一家以合伙人制度为基础，平台化运营的投资管理机构。盘京 投资立足中国证券市场，聚焦中国上市公司投资机会，同时在海外市场尤其是中概股有广泛布局。xa0公司的建设以投研为导向，以深度产业和个 股研究为投资决策唯一依据，搭建领先于同行的内部研究团队。同时，公司拥有广泛的外部研究资源，与国内各大顶级券商研究所建立了良好的 投研服务关系，通过深入研究发掘并收获根植中国经济的商业和投资机会，依靠扎实的价值判断穿越不同市场周期，坚持运用产业资本思维 ...

Index Performance - The CSI A500 Index increased by 3.34% this week, marking four consecutive weeks of gains, closing at 5372.76 points on August 29 [4][5] - The average daily trading volume for the week was 10,436.75 billion yuan, with a week-on-week increase of 30.39% [4][5] Component Stock Performance - The top ten gainers this week included Tianfu Communication (61.54%), Yanshan Technology (34.86%), and Shenzhen South Circuit (32.07%) [3] - The top ten losers included Berteli (-11.09%), Giant Star Technology (-9.33%), and Weining Health (-7.78%) [3] Fund Performance - All 39 CSI A500 funds reported positive returns, with the highest increase from Guolian An at 4.72% [5] - The total scale of CSI A500 funds reached 1884.32 billion yuan, showing an increase compared to the previous week [5] - The top three funds by scale were Huatai-PB (210.84 billion yuan), E Fund (198.54 billion yuan), and Guotai Fund (195.83 billion yuan) [5] Market Outlook - Current market conditions support continued stock market growth, with reasonable valuations and emerging positive factors such as a potential interest rate cut cycle by the Federal Reserve [6] - The market is expected to experience a "rotation and rebound" characteristic, with short-term rebound opportunities being more noteworthy [7] - In September, basic factors may have a weaker impact on the market, but liquidity-driven trading is at historical highs, suggesting a potential shift in market dynamics [7]

证券代码：688266 证券简称：泽璟制药 公告编号：2025-034 一、药品基本情况 | 药品名称 | 注射用 ZG005 | | 注射用 ZGGS18 | | --- | --- | --- | --- | | 剂型 | 粉针剂 | | 粉针剂 | | 编号 | | IND 177998 | | | 适应症 | | 晚期实体瘤 | | 二、药品相关情况 （1）注射用 ZG005 苏州泽璟生物制药股份有限公司 关于自愿披露注射用 ZG005 与注射用 ZGGS18 联用 的临床试验申请获得 FDA 批准的公告 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： 近日，苏州泽璟生物制药股份有限公司（以下简称"公司"）在研产品注射 用 ZG005 与注射用 ZGGS18 联用的临床试验申请获得美国食品药品监督管理局 （以下简称"FDA"）批准，用于治疗晚期实体瘤。 本次临床试验获批事项对公司近期业绩不会产生重大影响。由于药品的研发 周期长、审批环节多、研发投入大，容易受到一些不确定性因素的影响，敬请广 大投资者 ...

Core Viewpoint - ZaiJing Pharmaceutical (688266.SH) announced the approval of its clinical trial application for the combination of injectable ZG005 and ZGGS18 by the U.S. Food and Drug Administration for the treatment of advanced solid tumors [1] Group 1 - Injectable ZG005 is expected to be used for the treatment of various solid tumors and is one of the first drugs globally to enter clinical research for the same target [1] - Currently, there are no similar mechanism drugs approved for marketing worldwide [1] - Injectable ZGGS18 is anticipated to become an innovative biological product for the treatment of solid tumors [1] Group 2 - The approval of this clinical trial will not have a significant impact on the company's recent performance [1]

8月28日，泽璟制药跌5.01%，截至发稿，报97.36元/股，成交4.84亿元，换手率1.83%，总市值257.72亿 元。 华西研究精选混合发起（020444）基金经理为吴文庆。 截至发稿，吴文庆累计任职时间11年249天，现任基金资产总规模1.17亿元，任职期间最佳基金回报 96.36%， 任职期间最差基金回报-21.1%。 资料显示，苏州泽璟生物制药股份有限公司位于江苏省昆山市玉山镇晨丰路262号，成立日期2009年3月 18日，上市日期2020年1月23日，公司主营业务涉及化学新药及生物新药的研发、生产及销售。主营业 务收入构成为：药品99.97%，医药中间体及原辅料0.02%，资产租赁0.00%。 从基金十大重仓股角度 数据显示，华西基金旗下1只基金重仓泽璟制药。华西研究精选混合发起（020444）二季度持有股数 6.21万股，占基金净值比例为5.72%，位居第十大重仓股。根据测算，今日浮亏损失约31.91万元。 华西研究精选混合发起（020444）成立日期2023年12月28日，最新规模1.17亿。今年以来收益22.25%， 同类排名3067/8191；近一年收益53.02%，同类排名2083/ ...

Group 1 - The core viewpoint of the article is that Huazhong Securities has given a "buy" rating to Zai Lab (688266.SH) based on its improving financial condition and ongoing commercialization efforts [1] - The financial status of Zai Lab is reported to be continuously improving, with balanced and stable expenditures [1] - Zai Lab is making steady progress in its commercialization process, particularly with the drug Gika Xiqi (吉卡昔替尼片) preparing for medical insurance negotiations [1] - The company is advancing multiple specific antibodies into clinical trials, focusing on combination therapies targeting various pathways [1]

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for future investment returns [10]. Core Insights - The company reported a revenue of 376 million yuan for the first half of 2025, representing a year-on-year increase of 56.07%. However, the net profit attributable to the parent company was a loss of 73 million yuan, a decrease of 9.42% year-on-year [5]. - The company is advancing its commercialization process, with the drug Jika Xiqi (盐酸吉卡昔替尼) preparing for negotiations to be included in the national medical insurance directory [7]. - The company has made significant progress in its innovative pipeline, with multiple bispecific antibodies entering clinical trials and showing promising results [8]. Financial Performance - The overall gross margin for the first half of the year was 89.67%, a decrease of 3.07 percentage points year-on-year. The operating cash flow was negative 17 million yuan, a decline of 115.12% year-on-year [6]. - The company expects revenues of 900 million yuan, 1.65 billion yuan, and 2.41 billion yuan for 2025, 2026, and 2027, respectively, with corresponding year-on-year growth rates of 68.7%, 83.2%, and 46.2% [10]. - The projected net profit attributable to the parent company for the same years is 73 million yuan, 530 million yuan, and 1.02 billion yuan, with year-on-year growth rates of 152.7%, 628.6%, and 93.1% [10]. Product Development - The company’s drug ZGGS15 (LAG3/TIGIT) has received IND approval in both China and the US, marking it as the first of its kind to enter clinical research [8]. - The drug Zepu Ping (盐酸吉卡昔替尼片) was approved for market entry in May 2025 and is set to participate in the national medical insurance negotiations [9]. - The company has established a commercial presence in over 1,200 hospitals and 2,200 pharmacies for its product Zepu Sheng (甲磺酸多纳非尼片) [9].