Core Insights - The global chromatography column market is projected to reach USD 3.169 billion in 2024, an increase of USD 228 million from 2023, and is expected to grow to USD 3.396 billion by 2025 [1][6][8] - The Chinese chromatography column market is also expanding, with a production forecast of 265,000 units in 2024, an increase of 52,600 units from 2023, and a demand forecast of 679,800 units, up by 102,500 units [1][8] - The industry is characterized by a growing reliance on domestic chromatography columns due to their cost-effectiveness, particularly in sensitive sectors like environmental monitoring and food testing [1][8] Industry Definition and Classification - Chromatography columns are essential devices for separating and purifying different components in mixtures, classified into various types such as gas, liquid, ion exchange, size exclusion, and chiral chromatography [2][4] Current Industry Status - The chromatography column industry is experiencing significant growth driven by increasing demand in sectors such as biomedicine, food safety, environmental monitoring, and fine chemicals [6][8] Industry Development Environment - Related Policies - Recent government policies aim to promote technological innovation and product enhancement in the domestic scientific instrument sector, including chromatography columns [12] Industry Competition Landscape - The market is currently dominated by foreign companies, but domestic firms like Nanwei Technology and Saifen Technology are emerging with competitive advantages [15][18] - Domestic companies are expected to improve their product quality and production capabilities, narrowing the gap with international competitors [15] Industry Development Trends - Future trends in the chromatography column industry include the development of low-loss and high-inert technologies to meet the increasing demand for trace analysis in complex matrices [23]

Core Viewpoint - Nanwei Technology (688690) is focusing on strategic customer relationships to enhance revenue and market presence, with significant growth in sales from biopharmaceutical clients, which accounted for approximately 50% of sales in 2024 [2][3]. Group 1: Strategic Customer Engagement - The company implements a customer-centric marketing strategy, fostering partnerships with strategic clients through high-level interactions, which enhances mutual recognition of value and resource sharing [2]. - The establishment of strategic relationships allows the company to integrate into clients' R&D pipelines, facilitating the introduction of products into early-stage projects and advancing them towards commercialization [2]. - Revenue from strategic clients is increasing, reflecting the effectiveness of the company's efforts in deepening these partnerships [2]. Group 2: Market Dynamics and Opportunities - The domestic demand for local fillers in new drug projects is rising, driven by cost sensitivity due to national procurement policies and the need for supply chain security amid international trade tensions [3]. - Recent policies aimed at enhancing the self-sufficiency of the industry have created more opportunities for the application of domestic fillers [3]. Group 3: Financial Performance - In Q1 2025, the company reported a main revenue of 189 million yuan, a year-on-year increase of 22.39%, and a net profit of approximately 29.22 million yuan, up 72.98% year-on-year [4]. - The company's gross margin stands at 72.77%, indicating strong profitability [4]. Group 4: Analyst Ratings and Predictions - Over the past 90 days, three institutions have provided ratings for the stock, with two buy ratings and one hold rating [5]. - Profit forecasts for 2025 predict net profits of approximately 141 million yuan, with projections increasing to 221 million yuan in 2026 and 285 million yuan in 2027 [7].

Core Viewpoint - The chromatography market is experiencing significant growth driven by demand from downstream sectors such as biopharmaceuticals, food safety, environmental monitoring, and petrochemicals, with a notable increase in market size projected for the coming years [1][5][8]. Chromatography Industry Definition and Technology Classification - Chromatography, also known as layer chromatography, is a physical and chemical analysis method that separates different solutes based on their interactions with stationary and mobile phases [2]. Current Development Status of the Chromatography Industry - The global chromatography column market is expected to reach USD 3.169 billion in 2024, with North America accounting for 37.27% of the market share [5]. - In China, the chromatography industry is projected to grow to CNY 25.968 billion in 2024, with specific market sizes for chromatography columns, instruments, and media being CNY 2.053 billion, CNY 11.029 billion, and CNY 12.886 billion respectively [1][8]. Regional Demand Characteristics - In China, the demand for chromatography products is regionally concentrated, with East China accounting for 38.50% of the market in 2024, followed by Central South and Western regions [10]. Industry Chain of Chromatography - The chromatography industry operates upstream in the pharmaceutical industry chain, primarily sourcing chemical reagents and instrument components, which are widely available and competitively priced [12]. Development History of the Chromatography Industry - The development of chromatography technology in China began in the 1950s, with significant milestones including the first commercial gas chromatography instrument produced in 1963 [14]. Competitive Landscape of the Chromatography Industry - The domestic chromatography market is becoming increasingly competitive as local pharmaceutical companies seek to replace imported products with high-quality domestic alternatives due to cost control measures [17]. Development Trends in the Chromatography Industry - The demand for chromatography analysis is growing across various sectors, including biopharmaceuticals and food safety, leading to an expanding market size and a clear trend towards domestic production capabilities that can compete with international leaders [20].

截止公告披露日，股东苏州纳卓持有纳微科技股份11,506,572股，占纳微科技总股本的2.85%；股东苏 州纳研持有纳微科技股份25,756,713股，占纳微科技总股本的6.38%。股东苏州纳卓、苏州纳研及其一 致行动人深圳纳微科技有限公司、江必旺所持纳微科技股份比例由43.98%减少至42.94%，触及1%的整 数倍。截至目前，减持计划尚未实施完毕。 纳微科技的实际控制人为江必旺、陈荣姬。江必旺，美国国籍。陈荣姬，美国国籍。 中国经济网北京8月1日讯纳微科技(688690.SH)昨日晚间发布公告称，2025年7月31日，公司收到股东苏 州纳卓管理咨询合伙企业(有限合伙)(以下简称"苏州纳卓")、苏州纳研管理咨询合伙企业(有限合伙)(以 下简称"苏州纳研")发来的《关于减持股份暨权益变动触及1%刻度的告知函》。 股东苏州纳卓、苏州纳研于2025年7月23日至2025年7月31日期间通过集中竞价及大宗交易方式累计减持 所持有的纳微科技股份4,211,715股。 2025年7月23日至2025年7月31日期间，纳微科技的加权均价为27.434元/股，以此计算，苏州纳卓、苏 州纳研本次减持纳微科技的金额合计约为1. ...

Summary of Key Points Core Viewpoint - As of July 31, significant shareholder activities were observed, with six stocks experiencing increases in holdings and eight companies facing reductions in shareholder stakes [1] Group 1: Shareholder Increases - Six stocks had important shareholders increase their holdings, indicating potential confidence in these companies [1] - Specifically, Nanshan Energy Storage saw an increase of 13.859 million shares, with a total investment amounting to 138 million yuan [1] Group 2: Shareholder Reductions - Eight listed companies experienced significant shareholder reductions, which may signal concerns or strategic shifts [1] - Nawei Technology faced a reduction of 4.2117 million shares, with a decrease in investment totaling 11.6 million yuan [1]

本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息一致。 一、 信息披露义务人及其一致行动人的基本信息 1.身份类别 证券代码：688690 证券简称：纳微科技 公告编号：2025-026 苏州纳微科技股份有限公司 关于持股5%以上股东权益变动 触及1%刻度的提示性公告 股东苏州纳卓管理咨询合伙企业（有限合伙）、苏州纳研管理咨询合伙企业（有限 合伙）及一致行动人江必旺、深圳市纳微科技有限公司保证向本公司提供的信息真实、 准确、完整，没有虚假记载、误导性陈述或重大遗漏。 | 深圳市纳微 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 科技有限公 | 7,140.6992 | 17.68 | 7,140.6992 | 17.68 | / | / | | 司 | | | | | | | | 合计 | 17,759.8227 | 43.98 | 17,338.6512 | 42.94 | -- | -- | 注：以上数据如有差异，系按照四舍五入保留两位小数所致。 三、 其他说明 | | 控股股东/实际控制人及其一致行动人 □其他 5% ...

Overview - Magnetic Solid-Phase Extraction (MSPE) technology has significant advantages over traditional solid-phase extraction in terms of processing efficiency, automation, operational costs, and experimental data stability [1][12] - The market for MSPE in China is projected to reach 2.45 billion yuan in 2024, with a year-on-year growth of 11.46% [1][12] Technology Background - MSPE utilizes magnetic or magnetizable materials as adsorbents, allowing for easy separation and large mass transfer area [2][4] - The number of patent applications related to MSPE in China is expected to exceed 25 in 2024, marking a peak in the last decade [6] Industry Chain - The upstream of the MSPE industry includes suppliers of magnetic nanomaterials, surface modifiers, and chemical reagents, while the downstream applications cover food safety testing, soil pollutant detection, drug analysis, clinical in vitro diagnostics (IVD), and forensic toxicology [8] - In food safety, MSPE is used to detect various contaminants in samples such as oils, milk, honey, beverages, and meat products [8] Competitive Landscape - The MSPE market in China features both domestic and international companies, with domestic firms rapidly emerging to replace imports [14] - Key international players include Thermo Fisher Scientific, PerkinElmer Inc., and Agilent Technologies Inc., while domestic companies like Suzhou Aijie Boya Technology Co., Ltd. and Nanjing Aidi Mai Technology Co., Ltd. are gaining market share [14] Development Trends - Future research will focus on the functionalization of magnetic materials, leading to the development of new magnetic nanomaterials with high adsorption capacity and selectivity [16] - The integration of MSPE with automated sampling systems and microfluidic chips is expected to enhance automation and efficiency in sample processing [16]

| 变动前股数 | | 变动前比例 | | 变动后股数 | 变动后 | | | 权 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 益变动的 | | | | | | | | | | 投资者名称 | | | | | 权益变动方式 | | | | | （万股） | （万股） | （%） | | | 比例（%） | | | 时间 | | 区间 | | | | | | | | | | | 发生直接持股变动的主体： | | | | | | | | | 苏州纳卓管 | | | | | 集中竞价 ? | | | | | 理咨询合伙 | | | | | ? 大宗交易 | | | 2025/6/4- | | 企业（有限合 | | | | | 其他：____（请 | | | 2025/7/22 | | 伙） | | | | | 注明） | | | | | 苏州纳研管 | | | | | 集中竞价 ? | | | | | 理咨询合伙 | | | | | 大宗交易 ? | | | 2025/6/4- | | 企业（有限合 | | | | | 其他：____（请 ...

证券代码：688690 证券简称：纳微科技 公告编号：2025-025 2025 年 7 月 22 日，公司收到股东苏州纳卓管理咨询合伙企业（有限合伙） （以下简称"苏州纳卓"）、苏州纳研管理咨询合伙企业（有限合伙）（以下简称 "苏州纳研"）发来的《关于减持股份暨权益变动触及 1%刻度的告知函》，股东 苏州纳卓、苏州纳研于 2025 年 6 月 4 日至 2025 年 7 月 22 日期间通过集中竞价 及大宗交易方式累计减持所持有的公司股份 1,275,000 股。截止本公告披露日， 股东苏州纳卓持有公司股份 13,612,500 股，占公司总股本的 3.37%；股东苏州 纳研持有公司股份 27,862,500 股，占公司总股本的 6.90%。股东苏州纳卓、苏 州纳研及其一致行动人深圳纳微科技有限公司、江必旺所持公司股份比例由 44.30%减少至 43.98%，触及 1%的整数倍。截至目前，减持计划尚未实施完毕。 具体情况如下： | 投资者名称 | 变动前股数 | 变动前比例 | 变动后股数 | 变动后 | 权益变动方式 | | 权益变动的 | | --- | --- | --- | --- | --- | ...

Core Viewpoint - The report highlights a positive performance in the pharmaceutical sector, particularly in the innovative drug industry, driven by ongoing licensing agreements and supportive domestic policies [3]. Fund Performance - The fund reported a profit of 26.97 million yuan in Q2 2025, with a weighted average profit per fund share of 0.0627 yuan [2]. - The fund's net asset value (NAV) growth rate for Q2 was 7.62%, and the fund size reached 375 million yuan by the end of Q2 [2][16]. - As of July 18, the fund's unit NAV was 0.96 yuan [2]. - The fund's performance over the past three months showed a NAV growth rate of 14.74%, ranking 112 out of 138 comparable funds [4]. - Over the past six months, the fund's NAV growth rate was 25.40%, ranking 100 out of 138 [4]. - The one-year NAV growth rate was 24.99%, also ranking 100 out of 133 [4]. - The three-year NAV growth rate was 4.99%, ranking 46 out of 107 [4]. Investment Strategy - The fund manager expressed optimism about the innovative drug sector, indicating a shift from a general revaluation phase to a stage where actual performance and partnerships will be tested [3]. - The strategy includes a "barbell" approach, focusing on high-probability or high-return innovative drug companies [3]. - The fund is also looking at sectors with strong performance, such as orthopedics and upstream innovative drugs, while making early allocations in improving sectors like medical devices [3]. - New technologies like AI and brain-computer interfaces are expected to transform the healthcare system, although short-term financial impacts on related companies may be limited [3]. Risk and Return Metrics - The fund's three-year Sharpe ratio was 0.1406, ranking 41 out of 105 comparable funds [9]. - The maximum drawdown over the past three years was 29.8%, ranking 97 out of 106 [11]. - The fund's average stock position over the past three years was 85.43%, slightly below the comparable average of 86.95% [14].