证券代码：688382 证券简称：益方生物 公告编号：2025-026 益方生物科技（上海）股份有限公司 ? 本次股票上市流通日期为2025 年 7 月 25 日。 一、本次上市流通的限售股类型 根据中国证券监督管理委员会于 2022 年 4 月 1 日出具的《关于同意益方生物 科技（上海）股份有限公司首次公开发行股票注册的批复》 （证监许可〔2022〕682 号），同意益方生物科技（上海）股份有限公司（以下简称"公司"）首次公开发 行股票的注册申请。公司首次向社会公众公开发行人民币普通股（A 股）股票 后总股本为 575,000,000 股，其中有限售条件流通股 475,506,983 股，无限售条件 流通股 99,493,017 股。 首次公开发行部分限售股上市流通公告 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： ? 本次股票上市类型为 首发限售股份 ；股票认购方式为 网下 ，上市股数为 ? 本次股票上市流通总数为16,314,684股。 本次上市流通的限售股为公司首次公开发行部分限售股，限售期为自 ...

证券代码：688382 证券简称：益方生物 公告编号：2025-026 二、本次上市流通的限售股形成后至今公司股本数量变化情况 益方生物科技（上海）股份有限公司 首次公开发行部分限售股上市流通公告 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： 一、本次上市流通的限售股类型 根据中国证券监督管理委员会于 2022 年 4 月 1 日出具的《关于同意益方生物 科技（上海）股份有限公司首次公开发行股票注册的批复》（证监许可〔2022〕682 号），同意益方生物科技（上海）股份有限公司（以下简称"公司"）首次公开发 行股票的注册申请。公司首次向社会公众公开发行人民币普通股（A 股）股票 115,000,000 股，并于 2022 年 7 月 25 日在上海证券交易所科创板上市，发行完成 后总股本为 575,000,000 股，其中有限售条件流通股 475,506,983 股，无限售条件 流通股 99,493,017 股。 本次上市流通的限售股为公司首次公开发行部分限售股，限售期为自公司首 次公开发行股票并在科创板 ...

中信证券股份有限公司 关于益方生物科技（上海）股份有限公司 首次公开发行部分限售股上市流通的核查意见 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）作为益方生 物科技（上海）股份有限公司（以下简称"益方生物"或"公司"）首次公开发 行股票并上市的保荐人，根据《证券发行上市保荐业务管理办法》《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》《上海证券交易所科创 板股票上市规则》等相关法律、法规和规范性文件的规定，对益方生物本次首次 公开发行部分限售股上市流通事项进行了核查，核查意见如下： 一、本次上市流通的限售股类型 根据中国证券监督管理委员会于 2022 年 4 月 1 日出具的《关于同意益方生 物科技（上海）股份有限公司首次公开发行股票注册的批复》（证监许可〔2022〕 682 号），同意益方生物科技（上海）股份有限公司（以下简称"公司"）首次公 开发行股票的注册申请。公司首次向社会公众公开发行人民币普通股（A 股）股 票 115,000,000 股，并于 2022 年 7 月 25 日在上海证券交易所科创板上市，发行 完成后总股本为 575,000,000 股，其中有限售条件流 ...

近日，益方生物在回复上交所关于2024年年报的信披监管问询函时披露，贝达药业拖欠其肺癌1类创新 药贝福替尼的里程碑款项1.8亿元，逾期时间已近2年。益方生物表示，通过邮件、电话、线下拜访等方 式与贝达药业多次沟通，并于2024年底发出正式催款函，但款项仍未到账。截至2024年末，益方生物已 按10%的坏账率计提坏账准备1800万元。 贝达药业拖欠益方生物1.8亿元的里程碑付款纠纷，不仅揭开了双方合作背后的生存压力，也让外界得 以窥见创新药BD（授权合作）交易中不为人知的履约困境，同时引发创新药行业对BD交易信用体系的 广泛讨论。经济学家、新金融专家余丰慧在接受《华夏时报》记者采访时表示，"益方生物与贝达药业 的付款拖延纠纷虽然引起了关注，但这并不意味着类似的付款纠纷已经成为国内创新药领域授权合作中 的普遍现象。然而，这一案例确实揭示了在BD交易合作模式上存在的一些问题和风险点。" 贝达药业1.8亿元欠款拉锯战 事件的起因源自于2018年12月，益方生物与贝达药业就肺癌创新药BPI-D0316（甲磺酸贝福替尼）的合 作达成共识，双方约定在合作区域（涵盖中国内地及港、台地区）内推进该产品的研发与商业化。合作 协议 ...

Group 1 - The core viewpoint of the news highlights the positive market reaction to the National Healthcare Security Administration's initiation of the 11th batch of drug procurement, which protects the profit margins of innovative drug companies by excluding them from the procurement scope [1] - The Sci-Tech Innovation Biomedicine ETF (588250.SH) rose by 0.26%, while its associated index, Sci-Tech Biomedicine (000683.SH), increased by 0.28% [1] - Key constituent stocks such as Yifang Biotech-U, Borui Pharmaceutical, and Nanwei Medical saw significant gains, with increases of 4.49%, 3.08%, and 3.84% respectively, indicating a strong performance in the innovative drug sector [1] Group 2 - According to West Securities, the Sci-Tech Biomedicine index has a distinct industry distribution, with chemical pharmaceuticals accounting for 38.75% and medical devices for 39.10%, which is significantly higher than other indices [2] - The index has shown a return rate exceeding 10% since 2025, although it exhibits relatively high volatility [2] - The index's constituent stock structure has a low overlap with other mainstream pharmaceutical indices, reflecting its unique sci-tech attributes [2]

Core Viewpoint - The innovative drug market is experiencing a surge in interest and investment, with significant inflows of capital and strong performance in related stocks [1][5]. Group 1: Market Performance - On July 15, the pharmaceutical ETF (562050) experienced a sharp increase during the opening auction, indicating heightened investor enthusiasm for innovative drugs [2][3]. - The ETF closed up 0.59% at 1.017 yuan per share, with a total trading volume of approximately 26.34 million yuan and a turnover rate of 22.94% [4]. - A-shares in innovative drugs have shown notable gains, with companies like ShenZhou Cell rising nearly 50% in the past month, and others like BoRui Medicine and Jilin AoDong increasing over 10% [5]. Group 2: Fund Performance and Strategy - The latest public fund reports reveal a significant shift towards innovative drugs, with the Changcheng Pharmaceutical Industry Selected Fund achieving over 90% returns, increasing its scale nearly 30 times in the second quarter [6][9]. - The fund manager of Yongying Medical Health Fund indicated a complete portfolio overhaul towards innovative drugs, with top holdings including ShuTaiShen and Rejing Biology, the latter seeing a staggering 443.59% increase this year [6][7]. - The Changcheng fund plans to continue focusing on innovative drugs in the third quarter, emphasizing clinical data, overseas licensing, and domestic sales growth [8]. Group 3: Policy and Market Trends - The innovative drug sector is benefiting from favorable policy developments, with the National Medical Insurance Bureau initiating adjustments to the drug catalog for 2025 [10]. - Data shows that the total amount for Chinese innovative drug licenses reached nearly 66 billion USD in the first half of 2025, surpassing the total for 2024, indicating a rapid rise in global competitiveness [11]. - The current market rally is primarily driven by clinical results and expectations for overseas licensing, with a focus on companies that have the potential for international expansion and those that have successfully transformed [11].

Group 1 - The core viewpoint of the article highlights the performance of public funds in the second quarter of 2025, with a focus on the innovative drug sector and the significant increase in short-term bond fund shares [1][4] - The first report from the outstanding fund manager Liang Furui shows a cumulative net value growth rate of 75.18% for the Changcheng Pharmaceutical Industry Select Fund, making it the second-best performing equity fund in the first half of the year [2] - Liang Furui's report indicates that the innovative drug development will focus on overseas licensing and domestic sales expansion in the third quarter, with a continued emphasis on clinical data, pipeline licensing, and sales growth [3] Group 2 - Several short-term bond funds have seen a significant increase in shares during the second quarter, with the Debang Short Bond Fund's total shares rising to 5.482 billion, an increase of over 30 billion shares, representing a growth of over 125% [4] - The fund managers of Dongfanghong Yixin Pure Bond and Dongfanghong Short Bond report that the next phase will focus on benefiting from internal liquidity easing, with a core strategy of investment-grade leverage and duration trading [4][5] - The Debang Short Bond Fund managers express concerns about external demand pressures and the potential slowdown of the "old-for-new" subsidy policy, while maintaining a positive outlook for the bond market in the third quarter [5]

Group 1 - The Shanghai Stock Exchange has released the "Self-Regulatory Supervision Guidelines for Companies Listed on the Sci-Tech Innovation Board No. 5 - Sci-Tech Growth Tier" [1] - The reform does not impose additional listing thresholds for unprofitable companies entering the Sci-Tech Growth Tier, allowing 32 existing unprofitable companies to enter immediately upon the guideline's implementation [1] - Newly registered unprofitable companies will enter the Sci-Tech Growth Tier from the date of their listing [1] Group 2 - Investors participating in the subscription and trading of newly registered stocks in the Sci-Tech Growth Tier must sign a "Risk Disclosure Statement for the Sci-Tech Growth Tier" [2] - The 32 existing companies that have not yet removed the "U" designation include: Zejing Pharmaceutical, Junshi Biosciences, Frontier Biotech, Qingyun Technology, Hehui Optoelectronics, Jingjin Electric, BeiGene, Dize Pharmaceutical, Maiwei Biotech, Aojie Technology, Yuhong Pharmaceutical, Shouyao Holdings, Haichuang Pharmaceutical, CloudWalk Technology, Yifang Biotech, Obsidian Optics, Mengke Pharmaceutical, Nuo Cheng Jianhua, Xinke Mobile, Xinghuan Technology, Yutai Micro, Yuntian Lifa, Tianzhihang, Qi Anxin, Hanwujin, Yihua Tong, Aifute, Huizhiwei, Xinlian Integrated, Zhixiang Jintai, Shengke Communication, and Zhongjuxin [2]

Summary of Key Points Core Viewpoint - On July 11, 13 stocks from the Sci-Tech Innovation Board experienced block trading, with a total transaction amount of 256 million yuan, indicating active trading in this sector [1]. Group 1: Trading Activity - A total of 13 Sci-Tech Innovation Board stocks had block trades, with 26 transactions and a cumulative trading volume of 13.93 million shares [1]. - The stock with the highest transaction amount was Weiteng Electric, with a trading volume of 2.34 million shares and a transaction amount of 63.52 million yuan [1]. - Other notable stocks in terms of transaction amounts included Huicheng Co. and Yunzhu Technology, with transaction amounts of 57.27 million yuan and 23.83 million yuan, respectively [1]. Group 2: Price Performance - The average price of the stocks involved in block trading showed a discount compared to the closing price, with the highest discount rates for Weimais, Dameng Data, and Fuje Environmental Protection at 25.02%, 21.16%, and 19.12% respectively [1]. - In contrast, Huicheng Co. had a premium rate of 0.93% [1]. - The Sci-Tech 50 Index rose by 1.48%, with 402 stocks (68.25%) increasing in value, while the average increase for stocks involved in block trading was 3.58% [1]. Group 3: Institutional Participation - Among the block trades, 12 transactions involved institutional buyers or sellers, focusing on four stocks, with the highest buying amounts in Fuje Environmental Protection, Aopumai, and Yifang Bio at 14.08 million yuan, 10.49 million yuan, and 10.01 million yuan, respectively [2]. - Net inflows of funds were observed in six stocks, with Yifang Bio, Huazhu High-Tech, and Kaiweite leading in net inflow amounts of 16.69 million yuan, 5.53 million yuan, and 5.47 million yuan, respectively [2]. - Conversely, Yunzhu Technology, Haimeixing, and Fuchuang Precision experienced the highest net outflows of 8.99 million yuan, 7.35 million yuan, and 3.13 million yuan, respectively [2].

Core Viewpoint - The innovation drug sector is experiencing positive developments with the official launch of the 2025 National Basic Medical Insurance, Maternity Insurance, and Work Injury Insurance Drug Directory and the Commercial Health Insurance Innovation Drug Directory adjustment [1][4]. Group 1: Policy Changes - The National Healthcare Security Administration (NHSA) has initiated the adjustment of the drug directories, allowing eligible applicants to submit online applications from July 11 to July 20 [4]. - The newly added commercial health insurance innovation drug directory focuses on high innovation, significant clinical value, and substantial patient benefits, which cannot be included in the basic directory due to exceeding the "basic protection" scope [4][5]. - The NHSA has released a series of documents outlining the adjustment work plan, including guidelines for the new commercial health insurance innovation drug directory [2][4]. Group 2: Market Reactions - The innovation drug sector has shown strong performance in the secondary market, with the Wind Innovation Drug Index rising over 2% on July 11, and several companies like Yifang Bio and Changshan Pharmaceutical seeing significant stock price increases [3][4]. - Multiple brokerages express optimism about the innovation drug sector and its related industrial chain, indicating a positive outlook for future investments [3][6]. Group 3: Institutional Support - The NHSA and the National Health Commission have issued measures to support high-quality development of innovation drugs, encouraging the use of healthcare data for drug research and promoting investment in innovation drugs by commercial health insurance [6][7]. - The measures also propose the establishment of a commercial health insurance innovation drug directory, which will include drugs that exceed basic insurance coverage but have high innovation and clinical value [6][7]. Group 4: Industry Growth Potential - Analysts highlight that the innovation drug sector has maintained rapid growth in product revenue and external licensing over the past three years, with significant business development (BD) transactions occurring this year [7][8]. - The increasing international competitiveness of Chinese innovation drug assets is noted, with clinical data gaining prominence at academic conferences and BD transactions on the rise [8][9].