Core Viewpoint - The medical services sector experienced a decline of 1.45% on January 19, with Chengdu Xian Dao leading the drop. The Shanghai Composite Index rose by 0.29%, while the Shenzhen Component Index increased by 0.09% [1]. Group 1: Market Performance - The medical services sector saw a significant outflow of 1.45%, with Chengdu Xian Dao's stock price falling by 6.82% to 32.80 [2]. - Major stocks in the medical services sector included New Mileage, which rose by 9.83% to 2.57, and ST Biological, which increased by 5.06% to 8.93 [1][2]. - The total net outflow of main funds in the medical services sector was 1.983 billion, while retail investors saw a net inflow of 1.942 billion [2][3]. Group 2: Individual Stock Performance - New Mileage had a closing price of 2.57 with a trading volume of 3.1192 million shares, resulting in a transaction amount of 778 million [1]. - Chengdu Xian Dao, despite leading the decline, had a trading volume of 292,200 shares and a transaction amount of 976 million [2]. - The stock performance varied significantly, with some stocks like ST Biological and Huazhong Medical showing positive movements, while others like Chengdu Xian Dao and Meinian Health faced notable declines [2][3].

Core Viewpoint - *ST Bio has experienced a decline in stock price and is facing significant challenges, including a warning of potential delisting due to negative net profit and insufficient revenue for 2024 [1][4]. Company Announcements - *ST Bio plans to acquire 51% of Hunan Huize Biomedical Technology Co., Ltd. in cash, which will constitute a major asset restructuring [2][4]. - The company and its subsidiaries will engage in lithium carbonate futures hedging, with a maximum margin balance of 3 million RMB and a maximum contract value of 30 million RMB on any trading day [1][2]. - Due to a negative net profit for 2024 and revenue below the required standard, *ST Bio's stock has been placed under delisting risk warning [2][4]. Governance and Compliance - The company has established a "Commodity Futures Trading Management System" to ensure trading is solely for hedging purposes, with regular audits and risk control assessments [2]. - A "Board and Senior Management Departure System" has been implemented, detailing the process for resignations and the obligations of departing personnel [3].

Group 1 - Insilico Medicine announced a collaboration with Servier valued at $888 million focused on the discovery and development of innovative anti-cancer therapies [1] - Insilico will receive up to $32 million in upfront and milestone payments, leveraging its AI-driven drug development platform [1] - Servier will lead the clinical validation and commercialization of promising drug candidates globally [1] Group 2 - Weigao Blood Products announced a major asset restructuring involving the acquisition of 100% equity in Weigao Purui for approximately $8.511 billion [2] - Post-transaction, Weigao Purui will become a wholly-owned subsidiary, expanding the company's business into pharmaceutical packaging [2] - Weigao's shareholding in Weigao Blood Products will increase to 84.36%, maintaining absolute control [2] Group 3 - Earendil Labs (HuaShen ZhiYao) entered a strategic partnership with Sanofi worth up to $2.56 billion for the development of bispecific candidates targeting autoimmune and inflammatory diseases [3] - Earendil Labs will receive up to $160 million in upfront and milestone payments linked to early project outcomes [3] - The agreement includes tiered royalties based on net sales [3] Group 4 - WuXi AppTec announced that its controlling shareholders have reduced their stake by 2%, totaling 59.68 million shares [4] - The reduction was completed as per the previously disclosed plan, with the controlling shareholders holding 18.211% of the total shares before the reduction [4] Group 5 - Nanhua Biological announced plans for a significant asset restructuring to acquire 51% of Huize Pharmaceutical for cash [5] - The transaction is expected to constitute a major asset restructuring without involving share issuance or control changes [5] - Due diligence and negotiations are ongoing, with no formal agreement signed yet [5] Group 6 - Kangchen Pharmaceutical projected a net profit of between 145 million to 175 million yuan for 2025, representing a year-on-year increase of 243% to 315% [6] - The expected net profit excluding non-recurring gains is projected to be between 140 million to 170 million yuan, reflecting a significant increase from the previous year [6] Group 7 - Yilian Biotech signed a new exclusive licensing agreement with Roche for the YL201 project, with an upfront payment of $570 million [7] - The agreement allows Roche exclusive rights to develop and commercialize the YL201 project globally, excluding mainland China and certain regions [7] - This partnership builds on a successful collaboration on the YL211 project, aiming to accelerate the development of YL201 [7]

经初步测算，此次交易预计构成重大资产重组，不构成关联交易，不涉及发行股份，也不会导致控制权 变更。 近日，南华生物发布公告称，其于2025年8月12日披露拟现金收购程泽能等合计持有的慧泽医药51%股 权，交易完成后慧泽医药将成为其控股子公司。 不过，截至公告披露日，针对慧泽医药的审计、评估等工作仍在进行，相关方就核心条款谈判，尚未签 署正式收购协议，交易能否实施存在不确定性。 ...

新京报贝壳财经讯1月6日，南华生物发布公告称，公司于2025年8月12日披露拟现金收购程泽能等合计 持有的慧泽医药51%股权，交易完成后慧泽医药将成控股子公司。根据初步测算，本次交易预计构成重 大资产重组，不构成关联交易，不涉及发行股份，也不会导致控制权变更。截至公告披露日，针对慧泽 医药的审计、评估等工作仍在进行，相关方就核心条款谈判，尚未签署正式收购协议，交易实施存在不 确定性。 ...

南华生物公告称，公司于2025年8月12日披露拟现金收购程泽能等合计持有的慧泽医药51%股权，交易 完成后慧泽医药将成控股子公司。根据初步测算，本次交易预计构成重大资产重组，不构成关联交易， 不涉及发行股份，也不会导致控制权变更。截至公告披露日，针对慧泽医药的审计、评估等工作仍在进 行，相关方就核心条款谈判，尚未签署正式收购协议，交易实施存在不确定性。 ...

根据初步测算，本次交易预计构成《上市公司重大资产重组管理办法》规定 的重大资产重组情形。本次交易不构成关联交易，不涉及公司发行股份，亦不会 导致公司控制权发生变更。 二、交易进展情况 截至本公告披露日，公司正与交易各方积极推进本次重大资产重组各项工作。 目前，针对慧泽医药的审计、评估等工作仍在持续进行中；交易相关方就本次收 购的核心条款持续开展商务谈判，尚未签署正式收购协议。 三、风险提示 截至本公告披露日，本次重大资产重组尚处于筹划阶段，审计、评估等工作 尚未最终完成，交易方案仍需进一步论证完善，正式收购协议的签署及本次交易 证券代码：000504 证券简称：*ST 生物 公告编号：2026-001 南华生物医药股份有限公司 关于筹划重大资产重组的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或者重大遗漏。 一、本次交易概述 南华生物医药股份有限公司（以下简称"公司"）于2025年8月12日披露了 《关于筹划重大资产重组暨签署股权收购意向协议的提示性公告》，拟以现金方 式收购程泽能、易木林、长沙君合致远企业管理咨询合伙企业（有限合伙）、长 沙市履方医药信息咨询 ...

Core Viewpoint - The company, Nanhua Biological, is planning to engage in lithium carbonate futures hedging to mitigate raw material price volatility risks, with a maximum margin balance of 3 million yuan and a maximum contract value of 30 million yuan, using its own funds until September 30, 2026 [1][2][4]. Trading Information Summary - As of January 5, 2026, Nanhua Biological's stock closed at 8.82 yuan, down 1.45%, with a turnover rate of 0.76% and a trading volume of 25,000 hands, amounting to a transaction value of 22.0662 million yuan [1]. - On the same day, the net outflow of main funds was 6.0909 million yuan, while retail investors showed a net inflow of 3.8144 million yuan [1][3]. Company Announcement Summary - The 12th Board of Directors of Nanhua Biological held its 7th meeting on December 30, 2025, approving several resolutions, including the selection of an accounting firm, management of director and senior management departures, and the establishment of a commodity futures trading management system [1][2][3]. - The company has established a system for selecting accounting firms, detailing the conditions, procedures, and supervision requirements for hiring, renewing, or changing accounting firms, emphasizing quality management in the selection process [2]. - A departure management system for directors and senior management has been implemented, outlining procedures for resignation, work handover, and post-departure obligations [3][4]. - The commodity futures trading management system has been set up to regulate trading activities, ensuring that transactions are solely for hedging purposes and not speculative [4]. Feasibility Analysis of Hedging Business - Nanhua Biological aims to conduct lithium carbonate futures hedging to stabilize its main business operations against price fluctuations, with a maximum margin of 3 million yuan and a maximum contract value of 30 million yuan, funded by its own resources [1][4]. - The business is set to be implemented by the company and its subsidiaries, with the approval of the board of directors, and does not require shareholder meeting approval [4]. Regulatory Compliance and Risk Management - The company has established risk control measures and management systems to ensure that the hedging activities are conducted within the authorized limits set by the board of directors [1][4]. - West Securities, as the sponsor, has reviewed the hedging business and found no objections, confirming that it does not involve raised funds [4].

关于南华生物医药股份有限公司 开展商品期货套期保值业务的核查意见 西部证券股份有限公司（以下简称"西部证券"或"保荐人"）作为南华生 物医药股份有限公司（以下简称"南华生物"或"公司"）2023 年度向特定对象 发行 A 股股票的保荐人，根据《证券发行上市保荐业务管理办法》《深圳证券交 易所上市公司自律监管指引第 13 号——保荐业务》《深圳证券交易所股票上市规 则》《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》 等有关规定，对公司开展商品期货套期保值业务的事项进行了审慎核查，具体情 况如下： 西部证券股份有限公司 一、商品期货套期保值业务开展的基本情况 （一）交易目的 公司生产经营过程中需采购碳酸锂作为大宗原材料，其价格受宏观经济、行 业周期等多重因素影响，波动幅度较大，对公司及采购成本及经营业绩稳定性构 成潜在影响。为降低碳酸锂价格波动带来的不利影响，有效管控成本，公司以正 常生产经营为基础，以套期保值为核心目标，开展碳酸锂期货套期保值业务，通 过期货市场的风险对冲功能，锁定原材料采购成本，保障公司经营业绩的平稳运 行。公司开展本次业务严格遵循"套期保值、风险对冲"原则，不以投机 ...

关于南华生物医药股份有限公司 2025 年度持续督导培训情况的报告 西部证券股份有限公司（以下简称"西部证券"或"保荐人"）作为南华生 物医药股份有限公司（以下简称"南华生物"或"公司"）2023 年度向特定对象 发行 A 股股票的保荐人，根据《证券发行上市保荐业务管理办法》《深圳证券交 易所股票上市规则》《深圳证券交易所上市公司自律监管指引第 1 号——主板上 市公司规范运作》及《深圳证券交易所上市公司自律监管指引第 13 号——保荐 业务》等相关法律、法规和规范性文件的规定，南华生物持续督导项目组对南华 生物董事及高级管理人员进行了一次培训，现将相关情况报告如下： 一、培训基本情况 （一）培训时间：2025 年 12 月 24 日 （二）培训地点：湖南省长沙市高新区岳麓西大道 1698 号麓谷科技创新创 业园 B1 栋 3 楼会议室 西部证券股份有限公司 南华生物根据深圳证券交易所的有关要求，按照本次培训工作的安排，积极 安排和落实各项具体工作，为保荐人和培训人员提供了必要的条件和场地保证， 为培训对象参与培训工作提供了便利条件。接受培训的人员均认真配合培训人员 的培训工作，保证了本次培训的顺利开展。通过 ...