荣昌生物(688331.SH)在业绩说明会上表示，公司2021年与美国西雅图基因公司（现被美国辉瑞公司收 购，Pfizer Inc.）达成一项全球独家许可协议，公司授权维迪西妥单抗（代号：RC48）在荣昌生物区域 （即除日本、新加坡以外的其他亚洲地区）以外地区的全球开发和商业化权益。目前，RC48在海外的 临床试验正在由Pfizer按计划推进中。在国际化进程中，面临的主要挑战包括不同国家和地区法规环境 的差异性、市场准入政策的复杂性以及竞争环境的动态变化，公司正积极与Pfizer保持密切协作，提供 必要的支持与数据，以配合在海外市场的临床开发与申报工作。 ...

每日经济新闻 每经AI快讯，9月17日，港股创新药概念股震荡下挫，中国生物制药、维亚生物、复星医药跌超4%，君 实生物、荣昌生物、信达生物多股跌超3%。 ...

◎记者 何昕怡 9月16日，科创板细分行业集体业绩说明会之创新药行业专场举行，复旦张江、艾力斯、海创药业、欧 林生物、荣昌生物等23家企业亮相，通过相对集中的时间窗口，让投资者纵向了解公司发展情况、横向 明晰行业整体生态。 上海证券报记者关注到，在此次业绩说明会上，与会企业聚焦产品创新研发进展、医药出海趋势等热门 话题，深入探讨中国生物医药行业发展的机遇与挑战。 聊创新：产品研发进展顺利 近年来，中国药企持续加码研发，创新成果加速转化落地。复旦张江、申联生物、欧林生物等与会企业 纷纷透露公司当前产品研发的可喜进展。 复旦张江董事长、总经理赵大君介绍，公司未来盈利增长的主要驱动因素包括：全球首个针对鲜红斑痣 的光动力药物海姆泊芬注射剂、治疗三阴乳腺癌的抗Trop2-SN38项目、治疗乳腺癌和胃癌等多种实体 肿瘤的抗Her2-BB05项目等，目前临床研究均顺利开展。"公司正聚焦光动力和ADC两大战略平台项目 的研究开发，同时加强学术推广、积极开拓市场以扩大公司产品的市场份额。"他表示。 欧林生物研发始终聚焦"超级细菌"疫苗与"成人疫苗"两大战略方向。公司董事长、总经理樊绍文表示， 公司对重组金葡菌疫苗、口服重组幽 ...

文｜胡香赟 受消息影响，9月11日，A股、H股创新药概念集体走低，百济神州、荣昌生物等多只个股走弱；港股多 家药企跌超10%。伴随着对消息的进一步解读，昨日午间，创新药板块局部回暖，涨幅收窄。12日上午 创新药板块震荡走强，盘中恒生生物科技指数大幅拉升。 BD交易是当下中美药企之间的核心合作形式，仅今年上半年，中国创新药License-out总金额达608亿美 元，首付款26亿美元。而特朗普之所以推出这项草案，也是因为近两年跨国药企大量购买中国的创新药 管线，"却对研发同类型药物的美国生物科技公司不屑一顾"，引起了部分美国投资者的不满。 不过，由于该草案牵涉的利益方过于复杂，行业内主流观点对该草案能否落地存疑。有披露过大额BD 交易的药企人士表示：如今中国创新药出海的"主要亮点就是BD"，若草案真的落地，"不会是好事"。 但是，限制中国药企做BD，本质也会限制美国大型药企的发展，相当于"杀敌一千自损八百"。 植德律所投资并购部合伙人郭晓兴认为，消息中提到的部分限制领域"令人意外"；但考虑各方利益博 弈，即使法案最终落地，可能也只是涉及细胞治疗、人类遗传资源利用等最敏感的领域，其他交易仍有 望正常进行。 草案拟 ...

Core Viewpoint - The Hong Kong innovative drug sector has rebounded significantly after a previous decline, with major companies experiencing substantial stock price increases, indicating a positive market sentiment despite concerns over potential restrictions from the U.S. on Chinese innovative drugs [1][2][3]. Group 1: Market Performance - The Hong Kong innovative drug index (HK1105) fell approximately 3.82% due to market rumors but has since rebounded, with notable stocks like Innovent Biologics (09969.HK) rising over 12% to nearly historical highs [2][3]. - The A-share innovative drug index (BK1106) also saw a rise of 1.08%, with several companies achieving significant stock price increases, including Innovent Biologics-U (688428.SH) which rose over 12% [2][3]. - Since April 9, the A-share and Hong Kong innovative drug sectors have shown strong performance, with the A-share index increasing by 62% and the Hong Kong index by over 130% [3]. Group 2: Company Developments - Companies like Innovent Biologics and BeiGene are expected to reach profitability by 2025, with many biotech firms anticipated to enter a profitable cycle due to improved industrial capabilities and product line expansions [1][3]. - Recent approvals, such as Innovent Biologics' drug for treating relapsed/refractory marginal zone lymphoma, have acted as key catalysts for stock price increases [5]. - A total of 17 innovative drug companies are projected to reach new stock price highs by 2025, with significant gains observed in both A-share and Hong Kong markets [3]. Group 3: Financial Performance - The innovative drug sector is expected to see a total revenue of 449 billion yuan in the first half of 2025, reflecting a year-on-year growth of 31.48%, with 62% of companies reporting positive revenue growth [6][9]. - Notably, companies like BeiGene and Innovent Biologics have reported over 40% year-on-year revenue growth, marking a significant turnaround in profitability for many firms [11][12]. - The overseas licensing agreements for Chinese innovative drugs have reached a total of 943 billion USD, significantly surpassing the previous year's total, indicating strong international market potential [12][14]. Group 4: Policy and Regulatory Environment - Recent regulatory changes have favored the innovative drug sector, with policies aimed at optimizing clinical trial approvals and reducing supply chain risks, which are expected to benefit innovative drug companies [6][14]. - The introduction of mechanisms to support non-winning bidders in drug procurement is anticipated to enhance the market environment for innovative drugs, moving away from a solely price-based evaluation [14].

证券之星消息，9月12日生物制品板块较上一交易日上涨0.0%，奥浦迈领涨。当日上证指数报收于 3883.69，上涨0.22%。深证成指报收于12996.38，上涨0.13%。生物制品板块个股涨跌见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 300841 | 康华生物 | 9486.14万 | 13.72% | -3213.78万 | -4.65% | -6272.36万 | -9.07% | | 600211 | 西藏药业 | 4976.40万 | 5.33% | -1473.19万 | -1.58% | -3503.21万 | -3.75% | | 301047 | 义翘神州 | 2333.63万 | 9.72% | -1551.39万 | -6.46% | -782.24万 | -3.26% | | 688331 | 荣昌生物 | 2075.05万 | 2.48% | -362.02万 | -0.4 ...

Core Viewpoint - The article discusses the significant fluctuations in stock prices of innovative pharmaceutical companies, highlighting both the successes and failures in the market, particularly focusing on the performance of companies that reached historical highs in 2025 and those that have experienced substantial declines. Group 1: Performance of Innovative Pharmaceutical Companies - As of September 11, 2025, 90% of Hong Kong and STAR Market innovative pharmaceutical companies have seen significant stock price increases since the beginning of the year [6] - A total of 17 companies reached historical highs in stock price and market capitalization in 2025, with notable companies including BeiGene (688235.SH) and Innovent Biologics (01801.HK) [7][10] - Among these 17 companies, 12 have entered or are about to enter the commercialization phase, establishing stable revenue sources [7] Group 2: Key Events and Financial Performance - BeiGene and Innovent Biologics achieved their first profits in the first half of 2025, with BeiGene reporting a net profit of approximately 450 million yuan, a significant turnaround from a loss of 2.877 billion yuan in the same period last year [10] - Innovent Biologics reported a net profit of 834 million yuan, benefiting from the growth of PD-1 and other oncology drugs in the domestic market [10] - Other companies like Kintor Pharmaceutical (06990.HK) and Rongchang Biologics (688331.SH) have also made significant progress through BD transactions and drug approvals [11] Group 3: Declining Companies and Market Challenges - Despite the successes, 50% of innovative pharmaceutical companies still have stock prices below their initial offering prices, with 31 out of 55 Hong Kong 18A innovative pharmaceutical stocks experiencing declines [14][15] - Companies like Tengsheng Bo Pharmaceutical (02137.HK) and Akeso (09939.HK) have seen significant drops in stock prices, with some losing over 90% of their value since their IPOs [20][21] - The article notes that many of these declining companies faced challenges such as failed drug trials or adverse market conditions, leading to substantial losses [20][21] Group 4: Recent Trends and Future Outlook - Three companies, including Tongyuan Kang Pharmaceutical (02410.HK), have seen stock price declines of 70% or more since the beginning of the year, indicating ongoing volatility in the sector [25] - The article emphasizes the importance of BD transactions and successful drug approvals as key factors for recovery and growth in the innovative pharmaceutical market [12][22]

Company Overview - Rongchang Biopharmaceuticals is an innovative biopharmaceutical company based in Yantai, Shandong, China, established on July 4, 2008, and listed on March 31, 2022 [2] - The company focuses on the development and commercialization of therapeutic antibody drugs, including antibody-drug conjugates (ADC), fusion proteins, and monoclonal antibodies, targeting significant diseases such as autoimmune diseases, tumors, and ocular diseases [2] - The main revenue sources are from product sales (99.46%), with minor contributions from material sales (0.38%) and leasing services (0.16%) [2] Financial Performance - For the first half of 2025, Rongchang Biopharmaceuticals reported a revenue of 1.098 billion yuan, representing a year-on-year growth of 48.02% [3] - The net profit attributable to the parent company was -450 million yuan, showing a year-on-year increase of 42.40% [3] Stock Performance - As of September 12, the stock price of Rongchang Biopharmaceuticals was 107.95 yuan per share, with a year-to-date increase of 258.52% [1] - The stock has seen a 17.12% increase over the last five trading days, a 40.21% increase over the last 20 days, and a 71.84% increase over the last 60 days [1] - The company has appeared on the "Dragon and Tiger List" four times this year, with the most recent appearance on June 26, where it recorded a net buy of -137 million yuan [1] Shareholder Structure - As of June 30, 2025, the number of shareholders increased to 12,900, a rise of 90.69% [3] - The average number of circulating shares per shareholder decreased by 47.56% to 12,595 shares [3] - Notable new institutional shareholders include Hong Kong Central Clearing Limited and several mutual funds, indicating growing institutional interest [4]

经济观察报 见习记者 刘晓诺 9月11日，A股和港股多家创新药企股价大幅下跌。 9月10日晚，《纽约时报》报道，特朗普政府正考虑一项拟限制美国公司购买中国在研药物的行政命令草案。不过白宫发言人随后称，政府并未积极考虑该 草案。 自2025年年初起，由创新药BD交易（狭义：药物对外授权）点燃的股市热情已延续了大半年。据经济观察报统计，已有17家创新药企的股价在2025年创下 历史新高，包括百济神州（688235.SH）、信达生物（01801.HK）、百利天恒（688506.SH）、康方生物（09926.HK）等头部创新药企。 不少在2021年—2024年经历股价"腰斩""脚踝斩"的创新药个股，股价自年初以来实现翻倍。 这轮大涨之下个股亦有分化，目前仍有5成创新药企的股价低于上市时的发行价，其中不乏当年资本市场的明星企业。 17家企业达市值巅峰 据经济观察报统计，截至9月11日，有9成港股18A和科创板创新药企的股价较2025年年初大幅上涨。 其中，有17家企业的股价和市值在2025年创下历史新高，股价创纪录的时间集中在7月—9月。 总体而言，这些企业都已进入或即将进入创新药收获期：其中12家企业已迈入商业化阶段 ...

华泰柏瑞上证科创板综合ETF联接A（023741）成立日期2025年4月18日，最新规模6142.92万。成立以 来收益27.55%。 华泰柏瑞上证科创板综合ETF联接A（023741）基金经理为谭弘翔。 截至发稿，谭弘翔累计任职时间4年187天，现任基金资产总规模273.42亿元，任职期间最佳基金回报 78.18%， 任职期间最差基金回报-37.2%。 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。 责任编辑：小浪快报 9月11日，荣昌生物涨5.06%，截至发稿，报108.37元/股，成交10.22亿元，换手率6.32%，总市值610.78 亿元。 资料显示，荣昌生物制药(烟台)股份有限公司位于中国(山东)自由贸易试验区烟台片区烟台开发区北京 中路58号，成立日期2008年7月4日，上市日期2022年3月31日，公司主营业务涉及公司是一家具有全球 化视野的创新型生物制药企业,自成立以来一直专注于抗体药物偶联物(ADC)、抗体融合蛋白、单抗及 双抗等治疗性抗体药物领域。公 ...