Market Overview - The main board saw significant gains with stocks like Tongding Interconnection (+10.09%), Guangxun Technology (+10.01%), and Zhongci Electronics (+10.00%) leading the charge [1] - The ChiNext board also performed well, with Yidong Electronics (+20.01%), Gu'ao Technology (+20.00%), and Liant Technology (+20.00%) showing strong increases [1] - The Sci-Tech Innovation board was led by Kaipu Cloud (+20.00%), Juguang Technology (+17.34%), and Shengyi Electronics (+13.56%) [1] - Active sub-industries included SW Communication Network Equipment and Devices (+7.11%) and SW Communication Cables and Accessories (+6.90%) [1] Domestic News - Aibang ARAI announced the launch of the industry's first ultra-low power silicon-based LCD micro-display panel, model OP03021, featuring a resolution of 1632×1536 and a refresh rate of 90Hz [1] - The semiconductor sector observed a strategic acquisition by the Greater Bay Area Fund and Huada Jiutian of Sierxin, enhancing Huada Jiutian's capabilities in digital chip design and verification [1] - Texas Instruments and UBTECH Robotics entered a strategic partnership, with Texas Instruments procuring UBTECH's Walker S2 humanoid robots for deployment in production lines [1] - Xiaomi raised prices on several tablet models, with the entry-level Redmi Pad 2 seeing a price increase of approximately 20%, from 999 yuan to 1199 yuan [1] Company Announcements - Nanchip Technology plans to issue 1.933 billion yuan in convertible bonds to fund projects in smart power management chips, automotive chips, and industrial sensor and control chips [3] - Geke Micro announced a government subsidy of 60 million yuan received by its subsidiary Geke Microelectronics (Zhejiang) [3] - Mingyang Circuit projected a maximum of 5.09 million yuan in related transactions with Bai Rou New Materials for 2026, primarily for raw material procurement [3] - Pingzhi Information's subsidiary signed a 5-year contract with Inner Mongolia Unicom for computing power services, valued at 38.25 million yuan [3] Overseas News - TOPPAN plans to install an advanced semiconductor packaging R&D line at its Ishikawa factory, set to be operational by July 2026 [2] - SK Hynix's advanced semiconductor packaging factory in Indiana is set to break ground in Q1 2026, with an investment of approximately 3.87 billion USD [2] - SEM forecasts a 13.7% year-on-year increase in global semiconductor equipment sales in 2025, reaching a historical high of 133 billion USD [2] - Samsung Electronics aims to finalize the product development specifications for LPDDR6-PIM memory solutions by the end of this year, enhancing AI capabilities in edge computing devices [2]

Core Insights - The report emphasizes the continuous improvement of the global competitiveness of Chinese innovative pharmaceutical companies, focusing on innovation from both "therapeutic areas" and "technology platforms" [5][6] - The growth of commercial health insurance premiums is expected to provide new payment sources for medical expenses, as the scale of commercial health insurance is projected to reach 977.4 billion yuan by 2024 [29][30] - The report identifies potential therapeutic areas such as metabolic diseases (e.g., weight loss), chronic diseases (e.g., hypertension, hyperlipidemia), and central nervous system diseases (e.g., Alzheimer's, Parkinson's) as key focus areas for innovation [5][38] - Emerging technology platforms like small nucleic acid drugs, radioactive drugs (RDC), and CAR-T therapies are highlighted as significant areas for investment [5][38] Market Review - As of November 15, 2025, the pharmaceutical sector has outperformed the market, with the pharmaceutical index rising by 22.09% compared to a 17.62% increase in the CSI 300 index, resulting in a 4.47 percentage point outperformance [11] - The chemical preparation sector showed the best performance, increasing by 40.52%, followed by medical services (+36.98%) and chemical raw materials (+25.34%) [20] - The overall PE valuation of the pharmaceutical sector is at 30.89 times, which is relatively low compared to historical averages, indicating potential for future growth [22][23] Innovative Drugs - The report notes that the growth of health expenditures in China, which reached 9.06 trillion yuan in 2023, is outpacing GDP growth, indicating a robust market for innovative drugs [26][27] - The analysis of multinational corporations (MNCs) reveals that innovation is a core competitive advantage, with companies like Eli Lilly and Novartis showing significant growth driven by innovative products in advanced technology fields such as GLP-1 and ADC [31][32] - The report highlights the strong sales performance of GLP-1 drugs, with Eli Lilly's Mounjaro generating $6.515 billion in revenue in Q3 2025, reflecting a 109% year-on-year increase [44] CXO and Upstream - The report indicates a slight increase in pharmaceutical financing, with a recovery in business development transactions and H-share IPOs, which is expected to stimulate innovation [5] - The demand for external CXO services is growing, particularly in emerging fields such as peptides and small nucleic acids, while internal CXO orders are also showing signs of recovery [5][39] Medical Devices - The domestic medical device market is currently under pressure due to policy impacts, but improvements are anticipated as companies continue to innovate and expand internationally [5] - The report suggests that the industry fundamentals are expected to improve, with a focus on companies like Mindray Medical and Microelectrophysiology [5][39]

浦江蜿蜒，润泽上海多个产业园区；浪涛汹涌，击打出创新的节拍；货轮远航，驶向广阔的国际市 场……"十五五"规划建议擘画出未来五年的战略蓝图，一批上海科创公司为国担当、勇为尖兵，瞄准创 新与国际化"双线突围"，谋篇布局高质量发展。 硬核创新是扎根本土的底气。上海完善的科创生态，为企业攻坚"卡脖子"技术提供了肥沃土壤。乘着上 海支持创新创业的东风，80后的大学生创业者谢应波带领泰坦科技，在科学服务行业闯出一条国产化之 路；从生物材料到生物制造，凯赛生物手握颠覆性创新技术，大胆挺进合成生物产业蓝海；面对"数据 危机"带来的挑战，英方软件接连翻越研发、市场与信任"三座山"，以硬实力打造数据"保险栓"；20年 精耕细作，从3G到6G，创远信科不断夯实通信测试技术底座，用"工业之尺"刻画着产业新高度。 开放布局是链接全球的桥梁。依托上海国际科创中心的优势，科创企业家不约而同将未来五年的发展目 光投向国际市场。凯赛生物董事长刘修才说，公司要成为世界生物制造产业的开拓者，并培养中国生物 制造的同路人。在泰坦科技的"征途墙"上，董事长谢应波为"十五五"之路贴上了一个新的关键词 ——"出海"。面对海外客户对中国基础软件的偏见，英方 ...

Core Insights - The article discusses significant developments in the pharmaceutical and healthcare industry, including leadership changes, regulatory approvals, and strategic collaborations aimed at enhancing treatment options for patients with complex conditions like brain metastases [14][4][12]. Policy Developments - The National Medical Products Administration (NMPA) is focusing on balancing safety and development, emphasizing the importance of legal administration and scientific regulation to protect the legitimate rights of enterprises and promote high-quality industry development [2]. Drug Approvals - Yuandong Biotech received a drug registration certificate for Brivaracetam tablets, marking it as the first generic drug approved under the new registration classification in China. The expected sales for the original drug are approximately 160,000 yuan in the first half of 2025 [4]. - Jiutian Pharmaceutical has received approval for clinical trials of JMHT06 for treating acute gouty arthritis [5]. Capital Market Activities - L'Oréal plans to increase its stake in Galderma by acquiring an additional 10% of shares, which will raise its total ownership to 20% by early 2026. This move includes the nomination of two non-independent directors from L'Oréal to Galderma's board [7]. Industry Collaborations - Baiyang Pharmaceutical is collaborating with multiple medical institutions to enhance treatment for brain metastases, including launching real-world studies with ZAP-X technology and establishing a precision radiotherapy center [12][9].

Group 1 - The company has received the drug registration certificate for Brexpiprazole tablets from the National Medical Products Administration, marking a significant milestone for the product [1][2] - Brexpiprazole tablets are indicated for the treatment of adult schizophrenia and are classified as a Class 4 chemical drug with a shelf life of 12 months [1][2] - The product is the first domestically approved generic drug under the new registration classification, equivalent to passing the consistency evaluation [2][4] Group 2 - Brexpiprazole was originally developed by Otsuka Pharmaceutical Co., Ltd. and was approved for sale in the U.S. in July 2015, with the product expected to be imported into China by June 2024 [2] - Currently, only the original Otsuka product is available in the domestic market, with sales amounting to approximately 160,000 yuan in the first half of 2025 [2] - The approval of Brexpiprazole tablets is not expected to have a significant impact on the company's recent performance, although uncertainties may arise during the production and sales phase [4]

证券日报网讯 12月9日晚间，苑东生物发布公告称，公司于近日收到国家药品监督管理局核准签发的 《药品注册证书》，药品名称：布瑞哌唑片。 （文章来源：证券日报） ...

关于自愿披露布瑞哌唑片获得药品注册证书的公告 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。 成都苑东生物制药股份有限公司（以下简称"公司"）于近日收到国家药品监 督管理局（以下简称"国家药监局"）核准签发的《药品注册证书》，现将相关情 况公告如下： 证券代码：688513 证券简称：苑东生物 公告编号：2025-081 成都苑东生物制药股份有限公司 一、药品基本情况 药品名称：布瑞哌唑片 剂型：片剂 规格：1mg、2mg、4mg 注册分类：化学药品 4 类 药品有效期：12 个月 上市许可持有人：成都苑东生物制药股份有限公司 生产企业：成都苑东生物制药股份有限公司 药品注册标准编号：YBH29902025 受理号：CYHS2402228、CYHS2402229、CYHS2402230 证书编号：2025S03610、2025S03611、2025S03612 药品批准文号：国药准字 H20256114、国药准字 H20256115、国药准字 H20256116 审批结论：根据《中华人民共和国药品管理法》及有关规定，经审查 ...

人民财讯12月9日电，苑东生物(688513)12月9日公告，公司近日收到国家药监局核准签发的药品注册证 书，获证药品为布瑞哌唑片，该药品活性成份为布瑞哌唑，适应症为用于治疗成人精神分裂症。 ...

Core Viewpoint - Yuan Dong Biotechnology (688513.SH) has received the drug registration certificate from the National Medical Products Administration (NMPA) for its drug, Brexpiprazole tablets, which are indicated for the treatment of adult schizophrenia [1] Group 1: Product Development - Brexpiprazole tablets contain the active ingredient Brexpiprazole and were originally developed by Otsuka Pharmaceutical Co., Ltd. [1] - The drug was approved for marketing in the United States in July 2015 under the brand name Rexulti® and is expected to be imported into China by June 2024 [1] Group 2: Market Position - Currently, the only available product in the domestic market is the imported original drug, and Yuan Dong's product is the first domestically approved generic drug under the new registration classification, which is considered to have passed the consistency evaluation [1]

Core Viewpoint - The approval of the drug Brupiprazole tablets by the National Medical Products Administration signifies compliance with drug registration requirements, although it is not expected to have a significant impact on the company's recent performance [1] Group 1: Drug Approval Details - The drug name is Brupiprazole tablets, available in dosages of 1mg, 2mg, and 4mg [1] - It is classified as a Class 4 chemical drug with a validity period of 12 months [1] - The active ingredient is Brupiprazole, indicated for the treatment of adult schizophrenia [1] Group 2: Impact on Company Performance - The approval of Brupiprazole tablets is not anticipated to have a major impact on the company's recent financial performance [1]