Core Viewpoint - The chemical pharmaceutical sector experienced a rise of 1.66% on November 26, with Frontier Biotech leading the gains, while the overall Shanghai Composite Index fell by 0.15% [1]. Group 1: Stock Performance - Frontier Biotech (688221) closed at 20.20, up 12.85% with a trading volume of 455,500 shares and a transaction value of 916 million yuan [1]. - Yuyuan Pharmaceutical (688658) closed at 26.88, up 12.00% with a trading volume of 218,600 shares and a transaction value of 577 million yuan [1]. - Fuyuan Pharmaceutical (6801089) closed at 24.53, up 10.00% with a trading volume of 113,800 shares and a transaction value of 274 million yuan [1]. - Other notable performers include Guangji Pharmaceutical (000952) with a 9.99% increase and Beida Pharmaceutical (000788) with a 9.94% increase [1]. Group 2: Fund Flow Analysis - The chemical pharmaceutical sector saw a net inflow of 43.08 million yuan from institutional investors, while retail investors contributed a net inflow of 23.8 million yuan [2]. - The sector experienced a net outflow of 281 million yuan from speculative funds [2]. - Key stocks with significant fund flows include Heng Rui Pharmaceutical (600276) with a net inflow of 231 million yuan from institutional investors [3]. Group 3: Individual Stock Fund Flow - New China Pharmaceutical (000756) had a net inflow of 68.2 million yuan from institutional investors, while experiencing a net outflow of 21.7 million yuan from speculative funds [3]. - Fuyuan Pharmaceutical (601089) saw a net inflow of 67.6 million yuan from institutional investors, with a net outflow of 39.4 million yuan from speculative funds [3]. - Other stocks like Beibete (688759) and Yuyuan Pharmaceutical (688658) also showed varying levels of net inflows and outflows from different investor categories [3].

Group 1 - The core viewpoint of the news is that Sai Fen Technology has shown a mixed performance in financing activities, with a net financing outflow on November 20, 2023, and a significant increase in revenue and profit year-on-year for the first nine months of 2025 [1][2]. Group 2 - On November 20, 2023, Sai Fen Technology's stock price increased by 0.70%, with a trading volume of 71.15 million yuan. The financing buy-in amount was 4.03 million yuan, while the financing repayment was 12.21 million yuan, resulting in a net financing outflow of 8.19 million yuan [1]. - As of November 20, 2023, the total balance of margin trading for Sai Fen Technology was 77.28 million yuan, accounting for 8.48% of its circulating market value [1]. - The company reported a revenue of 302 million yuan for the period from January to September 2025, representing a year-on-year growth of 38.39%. The net profit attributable to the parent company was 93.21 million yuan, reflecting a year-on-year increase of 71.07% [2]. - The main business segments of Sai Fen Technology include industrial purification (33.10%), industrial purification: fillers (32.65%), analytical chromatography (16.73%), and others [2]. - As of September 30, 2025, the number of shareholders was 7,159, a decrease of 31.51% from the previous period, while the average circulating shares per person increased by 57.01% to 5,933 shares [2].

Group 1 - The core point of the news is that Saifen Technology has seen a stock price increase of 5.51%, reaching 23.36 CNY per share, with a total market capitalization of 9.729 billion CNY [1] - Saifen Technology, established on March 16, 2009, specializes in the research and production of liquid chromatography materials for drug analysis and purification [1] - The company's main business revenue breakdown includes: Industrial Purification Segment 33.10%, Industrial Purification Fillers 32.65%, Analytical Chromatography Segment 16.73%, Analytical Chromatography Columns 13.31%, Analytical Chromatography Fillers 3.13%, and other segments contributing smaller percentages [1] Group 2 - According to data, one fund from GF Fund has Saifen Technology as its second-largest holding, with 777 shares held unchanged from the previous period [2] - The fund, GF CSI A500 ETF Link A (022424), has a total scale of 3.321 billion CNY and has achieved a year-to-date return of 23.59% [2] - The fund manager, Lu Zhimin, has a tenure of 14 years and 169 days, with the fund's total asset scale at 24.063 billion CNY [3]

Core Points - The Sci-Tech Innovation Board (STAR Market) index rose by 1.44%, closing at 1399.29 points, with a total trading volume of 4.357 billion shares and a turnover of 189.525 billion yuan [1] - Among the tradable stocks on the STAR Market, 419 stocks closed higher, with 11 stocks experiencing a rise of over 10%, including Kangpeng Technology, Haibo Sichuang, and Huasheng Lithium, which hit the daily limit [1] - The turnover rate for STAR Market stocks showed that 3 stocks had a turnover rate exceeding 20%, while 21 stocks had a turnover rate between 10% and 20% [1] Trading Performance - The highest turnover rate was recorded by Haibo Sichuang at 22.07%, with a closing price increase of 20.00% and a trading volume of 2.869 billion yuan [1][3] - Other notable stocks with high turnover rates included Saifen Technology (21.43% turnover rate, 10.92% increase) and Kangpeng Technology (20.48% turnover rate, 20.02% increase) [3][4] - The stocks with the largest net inflow of funds included Haibo Sichuang (281.31 million yuan), Changguang Huaxin (166.1 million yuan), and Huasheng Lithium (88.835 million yuan) [2] Sector Analysis - In terms of industry distribution, the electronics sector had the most stocks with a turnover rate exceeding 5%, totaling 20 stocks, followed by power equipment and pharmaceutical biotechnology with 18 and 9 stocks, respectively [2] - The stocks with significant net outflows included Artis (454 million yuan), Yuanjie Technology (185 million yuan), and Baiwei Storage (168 million yuan) [2] Recent Trends - As of November 12, the stocks with the largest increase in financing balance over the past five days included Purun Co. (271 million yuan), Yuanjie Technology (252 million yuan), and Shenkong Co. (223 million yuan) [2] - Conversely, the stocks with the largest decrease in financing balance included Foxit Software (192 million yuan), New Xiangwei (184 million yuan), and Jucheng Co. (117 million yuan) [2]

Group 1 - The core viewpoint of the news is that Sai Fen Technology's stock performance and financial metrics indicate a mixed outlook, with a slight decline in stock price and notable financing activities [1][2]. Group 2 - On November 12, Sai Fen Technology's stock price decreased by 0.30%, with a trading volume of 58.96 million yuan. The financing buy-in amount was 4.28 million yuan, while the financing repayment was 6.13 million yuan, resulting in a net financing buy-in of -1.85 million yuan [1]. - As of November 12, the total financing and securities lending balance for Sai Fen Technology was 74.42 million yuan, accounting for 8.78% of its circulating market value [1]. - The company has not engaged in any securities lending activities on November 12, with no shares sold or repaid [1]. Group 3 - Sai Fen Technology, established on March 16, 2009, is located in the Suzhou Industrial Park and specializes in the research and production of liquid chromatography materials for drug analysis and purification [2]. - The company's revenue composition includes: Industrial Purification Segment (33.10%), Fillers (32.65%), Analytical Chromatography Segment (16.73%), Chromatography Columns (13.31%), and other minor segments [2]. - For the period from January to September 2025, Sai Fen Technology achieved a revenue of 302 million yuan, representing a year-on-year growth of 38.39%, and a net profit attributable to shareholders of 93.21 million yuan, with a year-on-year increase of 71.07% [2]. Group 4 - Since its A-share listing, Sai Fen Technology has distributed a total of 27.90 million yuan in dividends [3]. - As of September 30, 2025, the number of shareholders decreased by 31.51% to 7,159, while the average circulating shares per person increased by 57.01% to 5,933 shares [2][3].

Group 1 - The core viewpoint of the news highlights the performance and financial metrics of Sai Fen Technology, including stock price increase and trading volume [1] - On November 11, Sai Fen Technology's stock rose by 4.60%, with a trading volume of 102 million yuan and a net financing purchase of 1.7166 million yuan [1] - As of November 11, the total margin balance for Sai Fen Technology was 76.2679 million yuan, accounting for 8.97% of its market capitalization [1] Group 2 - Sai Fen Technology, established on March 16, 2009, is located in the Suzhou Industrial Park and specializes in the research and production of liquid chromatography materials for drug analysis and purification [2] - The company's revenue composition includes 33.10% from industrial purification, 32.65% from fillers, and 16.73% from analytical chromatography, among other segments [2] - For the period from January to September 2025, Sai Fen Technology achieved a revenue of 302 million yuan, representing a year-on-year growth of 38.39%, and a net profit of 93.2118 million yuan, with a growth of 71.07% [2] Group 3 - Since its A-share listing, Sai Fen Technology has distributed a total of 27.9031 million yuan in dividends [3] - As of September 30, 2025, the number of shareholders decreased by 31.51% to 7,159, while the average circulating shares per person increased by 57.01% to 5,933 shares [2][3] - Notably, the Southern Science and Technology Innovation Board 3-Year Open Mixed Fund has exited the top ten circulating shareholders list [3]

Summary of the Conference Call for Sifang Technology Company Overview - **Company**: Sifang Technology - **Industry**: Industrial Purification and Chromatography Key Financial Metrics - **Revenue**: - Q3 2025 revenue reached 3.02 billion CNY, a year-on-year increase of 38.39% [3] - Industrial purification segment revenue was 1.208 billion CNY, up 68.08% year-on-year, accounting for 69% of total revenue [2][3] - Net profit attributable to shareholders was 93.21 million CNY, a 71.07% increase year-on-year [2][3] - **Gross Margin**: - Overall gross margin for Q3 2025 was 72.73% [3] Segment Performance - **Industrial Purification Segment**: - Antibody drugs accounted for 60.62% of revenue, with a total of 1.26 billion CNY [5] - GLP-1 insulin peptide segment revenue grew by 161.44%, contributing 35.41% of the segment [5] - Revenue from recombinant proteins decreased significantly [5] - **Commercialization Stage**: - Revenue from commercialized products was approximately 122.3 million CNY, contributing nearly 60% of purification business revenue [9] - Late-stage clinical and commercialization revenue accounted for about 77% of total industrial purification revenue [9] Project Pipeline and Development - **Project Count**: - As of September 30, 2025, the company had 1,126 projects, with 893 in R&D, 170 in clinical stages, and 60 in commercialization [2][6] - In Q3 2025, 75 new projects were added, with 57 in R&D, 14 in clinical, and 4 in commercialization [6] - **Future Expectations**: - Anticipation of significant orders from clinical phase III projects entering commercialization in 2026, including recombinant proteins and antibodies [4][11] Market Dynamics - **Pricing Trends**: - Domestic chromatography media prices are 40%-50% of imported prices, with expectations of further price reductions in 2026 [7] - The company maintains a gross margin of around 70% for chromatography media [7] - **Customer Demand**: - Increasing number of phase I and II clinical projects, with 137 projects cumulatively [10] - The company has established strong relationships with major clients in the blood products sector, including significant projects in clinical phases [21] International Expansion - **Overseas Market Growth**: - Revenue from overseas markets grew over 300% year-on-year [14] - Plans to establish a factory in Delaware, USA, to support expansion into the North American market [12][13][15] - **Market Strategy**: - Differentiated strategies for the US and "Belt and Road" countries, focusing on technology in the US and competitive pricing in other regions [14] Future Capacity and Revenue Potential - **Capacity Expansion**: - Plans for a 200,000-liter production capacity in Yangzhou and a 50,000-liter facility in the US, with potential annual revenue of approximately 30 billion CNY if fully utilized [23] - **Market Size**: - The global market for related products is estimated to be in the hundreds of billions of CNY, indicating significant growth potential [17] Conclusion - **Overall Outlook**: - The company is positioned for substantial growth with a robust project pipeline, strong market demand, and strategic international expansion plans. The focus on maintaining stable pricing and high-quality products will support long-term profitability and market leadership.

Group 1 - The company will hold a performance briefing on November 17, 2025, from 15:00 to 16:00 [2][3] - The briefing will be conducted online via the "Value Online" platform [4][5] - Key personnel attending the meeting include the Chairman, General Manager, Secretary of the Board, Chief Financial Officer, and an Independent Director [4] Group 2 - Investors can submit questions before the meeting through a specified URL or by scanning a QR code [5] - After the briefing, investors can access the meeting's details and main content through the "Value Online" platform or the Yidong app [6]

证券代码：688758 证券简称：赛分科技 公告编号：2025-039 苏州赛分科技股份有限公司 关于召开2025年第三季度业绩说明会的公 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： 一、说明会类型 苏州赛分科技股份有限公司（以下简称"公司"）已于 2025 年 10 月 28 日 在上海证券交易所网站（www.sse.com.cn）披露了《苏州赛分科技股份有限公司 2025 年第三季度报告》。为便于广大投资者更加全面深入地了解公司经营业绩、 会议召开时间：2025 年 11 月 17 日（星期一）15:00-16:00 会议召开地点：价值在线（www.ir-online.cn） 会议召开方式：网络互动方式 会议问题征集：投资者可于 2025 年 11 月 17 日 15:00 前访问网址 https://eseb.cn/1t07bRb4WVq 或使用微信扫描下方小程序码进行会前提 问，公司将通过本次业绩说明会，在信息披露允许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、地点和方式 ...

Core Viewpoint - The company has reported a total asset impairment provision of 11.54 million yuan for the first three quarters of 2025, which will reduce the total profit for the same period by the same amount [8][11]. Financial Data - The financial statements for the third quarter of 2025 have not been audited [3][4]. - The company has confirmed that the financial information in the quarterly report is true, accurate, and complete [2]. Asset Impairment Provision - The company conducted impairment testing on its assets as of September 30, 2025, and recognized a total asset impairment provision of 11.54 million yuan [8]. - The breakdown of the impairment includes: - Credit impairment losses amounting to 5.67 million yuan [9]. - Asset impairment losses related to inventory amounting to 5.88 million yuan [10]. Impact on Financial Performance - The total asset impairment and credit impairment losses will decrease the company's total profit for the first three quarters of 2025 by 11.54 million yuan, not accounting for income tax effects [11].