证券代码：688687 证券简称：凯因科技 公告编号：2025-030 北京凯因科技股份有限公司 第六届董事会第九次会议决议公告 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。 一、董事会会议召开情况 北京凯因科技股份有限公司（以下简称"公司"）第六届董事会第九次会议 于2025年10月23日在公司会议室以现场结合通讯表决方式召开，会议通知于2025 年10月16日以电子邮件、电话方式送达。会议应出席董事7名，实际出席董事7名。 会议由董事长周德胜先生主持。公司监事、高级管理人员列席了本次会议。会议 的召集、召开程序符合《公司法》《公司章程》和《董事会议事规则》的相关规 定。 二、董事会会议审议情况 会议以投票表决方式审议并通过了如下决议： （一）审议通过了《关于公司 2025 年第三季度报告的议案》 根据《公司法》《上市公司章程指引》等相关法律法规、规范性文件的规定， 结合公司实际情况，公司不再设置监事会，由公司董事会审计委员会承接《公司 法》规定的监事会职权，《监事会议事规则》等监事会相关制度相应废止，公司 各项规章制 ...

北京凯因科技股份有限公司 2025 年第三季度报告 证券代码：688687 证券简称：凯因科技 北京凯因科技股份有限公司 2025 年第三季度报告 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比上 年同期增减变 | 年初至报告期末 | 年初至报告期 末比上年同期 | | --- | --- | --- | --- | --- | | | | | | 增减变动幅度 | | | | 动幅度(%) | | | | | | | | (%) | | 营业收入 | 360,401,807.57 | -12.95 | 926,858,237.47 | -8.29 | | 利润总额 | 60,365,706.41 | -21.89 | 130,821,492.44 | -9.92 | | 归属于上市公司股东的 | 55,124,914.93 | -16.05 | 102,508,092.87 | -5.14 | | 净利润 | | | | | | 归属于上市公司股东的 扣除非经常性损益的净 | 53,847,946.05 | -17.89 | 100,257,771.20 | -9.05 | | 利润 | | ...

Market Overview - The biopharmaceutical sector experienced a decline of 1.58% on October 14, with Aopumai leading the drop [1] - The Shanghai Composite Index closed at 3865.23, down 0.62%, while the Shenzhen Component Index closed at 12895.11, down 2.54% [1] Stock Performance - Notable gainers in the biopharmaceutical sector included: - Iwo Biotech (300357) with a closing price of 30.21, up 4.79% on a trading volume of 149,900 shares and a turnover of 448 million yuan [1] - Kain Technology (688687) closed at 28.91, up 4.14% with a trading volume of 127,000 shares and a turnover of 369 million yuan [1] - Major decliners included: - Aopumai (688293) which closed at 56.09, down 7.20% with a trading volume of 18,200 shares and a turnover of 106 million yuan [2] - Olin Biotech (688319) closed at 23.95, down 7.06% with a trading volume of 65,500 shares and a turnover of 162 million yuan [2] Capital Flow - The biopharmaceutical sector saw a net outflow of 503 million yuan from institutional investors, while retail investors contributed a net inflow of 329 million yuan [2] - The capital flow for specific stocks showed: - Iwo Biotech (300357) had a net outflow of 43.35 million yuan from institutional investors [3] - Kain Technology (688687) experienced a net inflow of 8.78 million yuan from institutional investors [3]

Core Insights - Kain Technology's stock increased by 5.19% to 29.20 CNY per share, with a total market capitalization of 4.992 billion CNY as of October 14 [1] Company Overview - Kain Technology, established on August 20, 2008, is located in Beijing Economic and Technological Development Zone and was listed on February 8, 2021 [1] - The company focuses on the research, production, and sales of pharmaceuticals related to viral diseases [1] - Revenue composition: Chemical drugs 62.13%, Biological drugs 37.44%, Technical services 0.32%, CMO/CDMO 0.09%, Others 0.01% [1] Shareholder Insights - Zhonggeng Fund's Zhonggeng Value Leading Mixed Fund (006551) is among the top ten circulating shareholders of Kain Technology, having increased its holdings by 7,434 shares to a total of 4.5007 million shares, representing 2.63% of circulating shares [2] - The fund has realized an estimated floating profit of approximately 6.481 million CNY from this investment [2] Fund Performance - The Zhonggeng Value Leading Mixed Fund (006551) was established on December 19, 2018, with a current asset size of 2.374 billion CNY [3] - Year-to-date return is 52.97%, ranking 847 out of 8,162 in its category; the one-year return is 44.3%, ranking 1,694 out of 8,015; and since inception, the return is 238.18% [2] Fund Holdings - Kain Technology is the third-largest holding in the Zhonggeng Value Leading Mixed Fund, accounting for 5.04% of the fund's net value [4]

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： 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：688687 证券简称：凯因科技公告编号：2025-029 北京凯因科技股份有限公司关于召开2025年半年度业绩说明会的公告 ● 投资者可于2025年10月13日（星期一）至10月17日（星期五）16:00前登录上证路演中心网站首页点 击"提问预征集"栏目或通过公司邮箱ir@kawin.com.cn进行提问。公司将在说明会上对投资者普遍关注 的问题进行回答。 北京凯因科技股份有限公司（以下简称"公司"）已于2025年8月15日发布公司2025年半年度报告，为便 于广大投资者更全面深入地了解公司2025年半年度经营成果、财务状况，公司计划于2025年10月20日下 午16:00-17:00举行2025年半年度业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 本次投资者说明会以网络互动形式召开，公司将针对2025年半年度的经营成果及财务指标的具体情况与 投资者进行互动交流和沟通，在信息披露允许的范 ...

证券代码：688687 证券简称：凯因科技 公告编号：2025-029 北京凯因科技股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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： 北京凯因科技股份有限公司（以下简称"公司"）已于 2025 年 8 月 15 日发 布公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 2025 年半 年度经营成果、财务状况，公司计划于 2025 年 10 月 20 日下午 16:00-17:00 举 行 2025 年半年度业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 本次投资者说明会以网络互动形式召开，公司将针对2025年半年度的经营成 果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的范围 内就投资者普遍关注的问题进行回答。 二、说明会召开的时间、地点 会议召开时间：2025 年 10 月 20 日（星期一）下午 16:00-17:00。 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 ...

Market Overview - The biopharmaceutical sector experienced a decline of 0.21% on September 25, with Nossland leading the drop [1] - The Shanghai Composite Index closed at 3853.3, down 0.01%, while the Shenzhen Component Index closed at 13445.9, up 0.67% [1] Stock Performance - Notable gainers in the biopharmaceutical sector included: - Aopu Mai (688293) with a closing price of 62.85, up 7.42% and a trading volume of 30,600 [1] - Rongchang Biotech (688331) closed at 108.50, up 3.43% with a trading volume of 89,200 [1] - Baipusais (301080) closed at 62.16, up 3.43% with a trading volume of 43,500 [1] - Major decliners included: - Nossland (430047) closed at 22.99, down 3.69% with a trading volume of 57,000 [2] - Wufan Biotech (301393) closed at 53.12, down 3.42% with a trading volume of 24,600 [2] - Kexing Pharmaceutical (688136) closed at 38.75, down 3.34% with a trading volume of 53,500 [2] Capital Flow - The biopharmaceutical sector saw a net outflow of 207 million yuan from institutional investors, while retail investors contributed a net inflow of 45.07 million yuan [2] - Notable capital flows included: - Rongchang Biotech (688331) with a net inflow of 1.021 billion yuan from institutional investors [3] - Junshi Biosciences (688180) with a net inflow of 35.36 million yuan from institutional investors [3] - Aopu Mai (688293) with a net inflow of 9.41 million yuan from institutional investors [3]

Investment Rating - The report maintains an "Outperform" rating for the biopharmaceutical industry [1] Core Viewpoints - The growth of healthcare expenses, which reached 9.06 trillion yuan in 2023, is outpacing GDP growth, indicating that commercial health insurance may provide a solution to the pressures faced by the medical insurance system [3][15] - The commercial health insurance sector is expected to grow significantly, with premiums projected to reach 97.74 billion yuan by 2024, driven by low penetration rates and the need for additional funding sources [20][24] - Policies are increasingly supportive of commercial health insurance, particularly in relation to innovative drugs, which are now being included in the commercial health insurance directory [71][76] Summary by Sections Part 1: Healthcare Financing System - The healthcare financing system in China consists of government, social, and personal contributions, with social contributions being the main driver for future growth [10][15] Part 2: Growth of Health Insurance - The commercial health insurance market is expected to fill a significant funding gap, with an estimated shortfall of over 1.7 trillion yuan by 2030 [21][22] - Medical insurance is the primary source of compensation within commercial health insurance, with a compensation rate of approximately 68.79% in 2022 [27][31] Part 3: Core Products of Medical Insurance - The report highlights the importance of medical insurance as a key focus area, noting that it directly compensates for medical expenses, unlike critical illness insurance [31][35] Part 4: Policy Support for Health Insurance Development - A series of policies since 2009 have aimed to promote the development of commercial health insurance, with specific targets for market size and coverage [71][72] Part 5: Investment Recommendations - The report suggests focusing on innovative drug companies with rich pipelines, DTP pharmacies, and companies in the TPA industry, as well as innovative medical devices and high-end medical service providers [77]

Group 1 - The stock price of Kain Technology has dropped by 5.04% on August 28, reaching 32.40 CNY per share, with a trading volume of 263 million CNY and a turnover rate of 4.64%, resulting in a total market capitalization of 5.539 billion CNY [1] - Kain Technology's stock has experienced a continuous decline for three days, with a cumulative drop of 7.73% during this period [1] - The company, established on August 20, 2008, and listed on February 8, 2021, focuses on the research, production, and sales of drugs for viral diseases, with revenue composition of 62.13% from chemical drugs, 37.44% from biological drugs, 0.32% from technical services, 0.09% from CMO/CDMO, and 0.01% from other sources [1] Group 2 - Among the top ten circulating shareholders of Kain Technology, a fund under Zhonggeng Fund has increased its holdings by 7,434 shares in the second quarter, now holding 4.5007 million shares, which accounts for 2.63% of the circulating shares [2] - The estimated floating loss for the fund today is approximately 7.7412 million CNY, with a total floating loss of 12.872 million CNY during the three-day decline [2] - Zhonggeng Value Leading Mixed Fund (006551), established on December 19, 2018, has a current scale of 2.374 billion CNY, with a year-to-date return of 36.4% and a one-year return of 52.52% [2] Group 3 - The Zhonggeng Value Leading Mixed Fund (006551) has Kain Technology as its third-largest heavy stock, with 4.5007 million shares accounting for 5.04% of the fund's net value [3] - The estimated floating loss for the fund today is approximately 7.7412 million CNY, with a total floating loss of 12.872 million CNY during the three-day decline [3]

Market Overview - The biopharmaceutical sector experienced a decline of 2.85% on August 27, with Kanghua Biotech leading the drop [1] - The Shanghai Composite Index closed at 3800.35, down 1.76%, while the Shenzhen Component Index closed at 12295.07, down 1.43% [1] Individual Stock Performance - Wuwei Biotech (300357) saw a significant increase of 5.38%, closing at 30.95 with a trading volume of 299,000 shares and a transaction value of 915 million yuan [1] - Kanghua Biotech (300841) reported a notable decline of 8.89%, closing at 76.60 with a trading volume of 125,200 shares and a transaction value of 993 million yuan [2] - Anke Biotech (300009) also faced a drop of 5.59%, closing at 11.14 with a trading volume of 862,300 shares and a transaction value of 990 million yuan [2] Capital Flow Analysis - The biopharmaceutical sector experienced a net outflow of 1.853 billion yuan from institutional investors, while retail investors saw a net inflow of 1.543 billion yuan [2] - The capital flow for individual stocks indicates that Hualan Biotech (002007) had a net inflow of 32.28 million yuan from institutional investors, while it faced a net outflow of 40.67 million yuan from speculative funds [3] - The overall trend shows that retail investors are actively investing in the sector despite the institutional outflows [2][3]