证券代码：688710 证券简称：益诺思 公告编号：2025-033 上海益诺思生物技术股份有限公司 关于变更公司网址及投资者邮箱的公告 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。 上海益诺思生物技术股份有限公司董事会 2025年9月13日 上海益诺思生物技术股份有限公司（以下简称"公司"）为进一步提升公司 品牌形象，经公司研究决定，对公司官方网址及企业邮箱域名进行变更。现将具 体相关情况公告如下： | 变更内容 | 变更前 | 变更后 | | --- | --- | --- | | 公司官方网址 | www.innostar.cn | www.innostarbio.com | | 投资者邮箱 | bo@innostar.cn | bo@innostarbio.com | 变更后的公司官方网址及投资者邮箱将于2025年9月15日起正式启用，为保 障访问与沟通顺畅，过渡期为2025年9月15日至2026年3月15日，过渡期内访问原 官方网址将自动跳转至新网址，原投资者邮箱信件将同步至新投资者邮箱，确保 信息传递不受影响 ...

Company Overview - Yinos Bio is located in the China (Shanghai) Pilot Free Trade Zone and was established on May 12, 2010. The company went public on September 3, 2024. Its main business involves providing non-clinical research services in the biopharmaceutical sector, primarily as a Contract Research Organization (CRO) [1] - The revenue composition of Yinos Bio is as follows: non-clinical services account for 96.31%, clinical services for 3.42%, and other services for 0.27% [1] Financial Performance - As of June 30, 2025, Yinos Bio reported a revenue of 375 million yuan, a year-on-year decrease of 38.04%. The net profit attributable to shareholders was -15.19 million yuan, representing a year-on-year decrease of 115.88% [2] - Since its A-share listing, Yinos Bio has distributed a total of 45.11 million yuan in dividends [3] Stock Performance - On September 12, Yinos Bio's stock price increased by 2.02%, reaching 39.98 yuan per share, with a trading volume of 46.57 million yuan and a turnover rate of 1.31%. The total market capitalization is 5.636 billion yuan [1] - Year-to-date, Yinos Bio's stock price has risen by 13.61%. However, it has seen a decline of 0.10% over the last five trading days and an 8.89% decrease over the last 20 days, while it has increased by 27.94% over the last 60 days [1] Shareholder Structure - As of June 30, 2025, the number of shareholders for Yinos Bio was 5,386, a decrease of 0.90% from the previous period. The average number of circulating shares per person increased by 0.91% to 5,235 shares [2] - Among the top ten circulating shareholders, ICBC Medical Health Stock (000831) is the seventh largest with 439,400 shares, an increase of 72,300 shares from the previous period. New entrants include ICBC Strategic Transformation Stock A (000991) and Harvest Medical Health Stock A (005303) [3]

Core Viewpoint - The company reported a revenue of 380 million yuan in 25H1, a year-on-year decrease of 38.0%, and a net profit attributable to shareholders of -15.19 million yuan, down 115.9% year-on-year, indicating a significant decline in performance due to a slowdown in domestic investment and financing, as well as increased market competition leading to lower sales order prices. The company is expected to benefit from improvements in domestic financing and increased investment in innovative drug development, potentially entering a new growth cycle with the ramp-up of capacity in Nantong Phase II [1] Group 1: New Orders and International Expansion - The company signed new orders worth 530 million yuan in 25H1, representing a year-on-year increase of 7.4%. The number of new projects in core businesses IND and NDA grew by 6.9% year-on-year. Notably, the number of new projects for small nucleic acid drugs and radioactive drugs showed significant growth, becoming new growth points. The company accelerated its overseas business development by expanding its international marketing network and participating in six major conferences, which helped to rapidly expand its global customer base [2] Group 2: Capacity Construction and R&D Innovation - The company is steadily advancing its capacity construction, with the Nantong Phase II facility of 24,000 square meters obtaining the experimental animal use license and entering the GLP simulation operation phase, expected to ramp up production in early 26. The expansion of the 1,800 square meter isotope facility and the construction of a new comprehensive laboratory in Huangshan are also underway. Additionally, the company increased its R&D investment, with R&D expenses accounting for 5.9% of revenue in 25H1, up 2.3 percentage points year-on-year, and has made progress in various innovative projects [3] Group 3: Profit Forecast and Investment Recommendations - Based on the mid-year report for 25, the company has adjusted its revenue and gross margin forecasts downward while raising expense forecasts. The earnings per share estimates for 2025-2027 have been revised to 0.14/0.94/1.41 yuan, compared to previous estimates of 0.99/1.16/1.42 yuan. The target price is set at 43.24 yuan based on a 46 times PE ratio for comparable companies in 26, maintaining a "buy" rating [4]

Core Viewpoint - Yinosh experienced a slight increase in stock price on September 11, with a trading volume of 63.42 million yuan, indicating ongoing market activity despite financial challenges [1] Group 1: Financial Performance - For the first half of 2025, Yinosh reported a revenue of 375 million yuan, representing a year-on-year decrease of 38.04% [2] - The company recorded a net profit attributable to shareholders of -15.19 million yuan, a significant decline of 115.88% compared to the previous period [2] Group 2: Shareholder and Market Activity - As of June 30, 2025, Yinosh had 5,386 shareholders, a decrease of 0.90% from the previous period, while the average number of circulating shares per shareholder increased by 0.91% to 5,235 shares [2] - On September 11, Yinosh's financing buy-in amounted to 4.74 million yuan, with a net financing buy of -1.48 million yuan, indicating more repayments than new purchases [1] - The total balance of margin trading for Yinosh reached 87.06 million yuan, accounting for 2.45% of its market capitalization [1] Group 3: Shareholder Composition - As of June 30, 2025, the top ten circulating shareholders included ICBC Medical Health Stock, which increased its holdings by 72,300 shares to 439,400 shares [3] - New entrants among the top ten shareholders included ICBC Strategic Transformation Stock and Harvest Medical Health Stock, holding 354,100 shares and 344,300 shares respectively [3] - Notably, several funds such as Agricultural Bank Medical Health Stock and others exited the top ten circulating shareholders list [3]

Group 1 - On September 10, Yinos achieved a stock price increase of 3.57% with a trading volume of 79.4568 million yuan, and the net financing purchase amounted to 3.0738 million yuan [1] - As of September 10, the total balance of margin trading for Yinos was 88.5422 million yuan, which represents 2.51% of its circulating market value [1] - Yinos primarily operates in the field of biopharmaceutical non-clinical research services, with 96.31% of its revenue coming from non-clinical services [1] Group 2 - As of June 30, Yinos had 5,386 shareholders, a decrease of 0.90% from the previous period, while the average circulating shares per person increased by 0.91% to 5,235 shares [2] - For the first half of 2025, Yinos reported a revenue of 375 million yuan, a year-on-year decrease of 38.04%, and a net profit attributable to shareholders of -15.1895 million yuan, a decline of 115.88% [2] - After its A-share listing, Yinos has distributed a total of 45.1135 million yuan in dividends [2]

Group 1 - The core viewpoint of the news is that Yinosh has experienced a decline in stock price and financial performance, with significant changes in financing and shareholder structure [1][2][3] - As of September 2, Yinosh's stock price fell by 2.24%, with a trading volume of 58.6354 million yuan. The net financing buy was -3.902 million yuan, indicating a higher repayment than new purchases [1] - Yinosh's financing balance reached 86.1492 million yuan, accounting for 7.59% of its market capitalization, with no short selling activity reported on the same day [1] Group 2 - For the first half of 2025, Yinosh reported a revenue of 375 million yuan, a year-on-year decrease of 38.04%, and a net profit attributable to shareholders of -15.1895 million yuan, a decline of 115.88% [2] - As of June 30, 2025, the number of Yinosh shareholders was 5,386, a decrease of 0.90%, while the average circulating shares per person increased by 0.91% to 5,235 shares [2] - Yinosh has distributed a total of 45.1135 million yuan in dividends since its A-share listing, with changes in institutional holdings noted among its top shareholders [3]

Company Overview - Yinos Biotech Co., Ltd. is located in the China (Shanghai) Pilot Free Trade Zone and was established on May 12, 2010. The company is set to be listed on September 3, 2024. Its main business involves providing comprehensive research and development services (CRO) focused on non-clinical research services in the biopharmaceutical sector [1] - The revenue composition of Yinos is as follows: non-clinical services account for 95.42%, clinical services for 4.11%, and other services for 0.47% [1] Stock Performance - On September 1, Yinos shares increased by 5.1%, reaching a price of 40.98 CNY per share, with a trading volume of 30.95 million CNY and a turnover rate of 2.75%. The total market capitalization is 5.777 billion CNY [1] Shareholder Information - Among the top ten circulating shareholders of Yinos, one fund from Harvest Fund Management, the Harvest Medical Health Stock A (005303), entered the top ten in the second quarter, holding 344,300 shares, which represents 1.22% of the circulating shares. The estimated floating profit for today is approximately 685,200 CNY [2] - The Harvest Medical Health Stock A fund was established on December 4, 2017, with a current size of 786 million CNY. Year-to-date returns are 42.3%, ranking 534 out of 4222 in its category. Over the past year, returns are 50.75%, ranking 1765 out of 3779, and since inception, the fund has achieved a return of 93.9% [2] Fund Management - The fund manager for Harvest Medical Health Stock A is Sun Xiaohui, who has been in position for 144 days, with a total fund size of 985 million CNY. The best return during his tenure is 37.64%, while the worst is 37.22% [3] - The other fund manager, Hao Miao, has been in position for 6 years and 230 days, managing a total fund size of 3.652 billion CNY. His best return during his tenure is 183.83%, while the worst is -30.4% [3]

Summary of Key Points Core Viewpoint - Next week, 29 stocks in the A-share market will face a lock-up expiration, with a total of 2.013 billion shares being unlocked, amounting to a market value of approximately 18.877 billion yuan, representing a week-on-week decrease of 73.51% [1][2]. Company-Specific Summaries - **Foton Motor**: The largest stock by market value to be unlocked next week, with an unlock value of 3.957 billion yuan and 1.429 billion shares set to be released on September 3, 2025. The shares are from a targeted placement to institutional investors at an issue price of 2.10 yuan per share [2][4]. - **Futian Technology**: The second-largest unlock value at 2.887 billion yuan, with 0.079 billion shares to be released on September 4, 2025. The shares include original shareholders' restricted shares and strategic placement shares [2][4]. - **Yinose**: The third-largest unlock value at 2.437 billion yuan, with 0.062 billion shares to be released on September 3, 2025, also consisting of original shareholders' restricted shares and strategic placement shares [2][4]. Market Performance - As of August 29, 2023, the stock price of Foton Motor was 2.77 yuan per share, with a market capitalization of approximately 21.9 billion yuan. The stock has seen a return of over 30% since the targeted placement, resulting in a floating profit of over 900 million yuan for the major shareholder, Beijing Automotive Group [4]. - Futian Technology's stock price was 36.63 yuan per share, with a market capitalization of about 5.7 billion yuan. Since its listing, the stock has appreciated over 260% compared to its issue price, indicating significant gains for strategic placement shareholders [4]. Unlocking Impact - Six stocks will see their unlock quantities exceed 30% of their total share capital, including Futian Technology (50.71%), Yinose (44.33%), Wufangzhai (37.61%), Sudar (36.76%), Liren Technology (34.81%), and Aopumai (31.83%). The unlocking will lead to a substantial increase in their circulating shares, with four stocks experiencing an increase of over 100% in their circulating market [7][8].

Core Viewpoint - Next week, 29 stocks in the A-share market will face a lock-up expiration, with a total of 2.013 billion shares being unlocked, amounting to a market value of 18.877 billion yuan, which represents a week-on-week decrease of 73.51% [1][3]. Summary by Category Unlocking Stocks - The stocks with the highest unlocking market value include Foton Motor at approximately 4 billion yuan, Fute Technology at 2.887 billion yuan, and Yinos at 2.437 billion yuan [2][3]. - Foton Motor will unlock 1.429 billion shares on September 3, 2025, all from a targeted placement to institutional investors [3][5]. - Fute Technology will unlock 0.079 billion shares on September 4, 2025, consisting of original shareholders' restricted shares and strategic placement shares [3][5]. - Yinos will unlock 0.062 billion shares on September 3, 2025, also from original shareholders' restricted shares and strategic placement shares [3][5]. Market Performance - As of August 29, the stock price of Foton Motor was 2.77 yuan per share, with a market capitalization of approximately 21.9 billion yuan [6]. - The stock price of Fute Technology was 36.63 yuan per share, with a market capitalization of about 5.7 billion yuan [6]. - The stock performance for the month of August shows Foton Motor with a gain of 2.97%, Fute Technology with a gain of 7.04%, and Yinos with a decline of 13.12% [3]. Increase in Circulation - Among the 29 stocks facing unlocking, six stocks will see their circulation increase by more than 30%, including Fute Technology (50.71%), Yinos (44.33%), Wufangzhai (37.61%), Suda Shares (36.76%), Liren Technology (34.81%), and Aopumai (31.83%) [10][11]. - Four of these stocks will experience a circulation increase of over 100% after the unlocking [10].

Group 1 - The core viewpoint of the report indicates a significant decline in the company's financial performance for the first half of 2025 compared to the same period in 2024, with a notable drop in revenue and net profit [2][3]. - Total assets at the end of the reporting period amounted to approximately 3.21 billion RMB, showing a slight decrease of 0.20% from the previous year [2]. - The company's operating income was reported at approximately 375.23 million RMB, reflecting a decrease of 38.04% year-on-year [2]. Group 2 - The total profit for the period was approximately 536.15 thousand RMB, which represents a drastic decline of 99.49% compared to the previous year [2]. - The net profit attributable to shareholders was reported as a loss of approximately 15.19 million RMB, marking a decrease of 115.88% from the same period last year [2]. - The company’s research and development expenditure as a percentage of operating income increased to 5.94%, up by 2.27 percentage points from the previous year [2]. Group 3 - The weighted average return on equity decreased to -0.64%, down by 6.37 percentage points compared to the previous year [2]. - The basic and diluted earnings per share were both reported at -0.11 RMB, a decline of 112.22% from the previous year [2]. - The total number of shareholders at the end of the reporting period was 5,386 [2].