出席本次论坛活动的重磅嘉宾包括工业富联、中际旭创、胜宏科技、蓝思科技、东山精密、领益智造、 协创数据、万国数据、长春高新、晶泰控股、晶晨股份、北京君正、大族数控、源杰科技、剑桥科技、 峰岹科技、杰华特、广和通、博瑞医药、聚辰股份、芯碁微装、劲方医药-B、秦淮数据、天辰生物医 药、先通国际医药、捷利交易宝等公司的高层领导。 在11月6日上午的主论坛上，工业富联董事长郑弘孟、蓝思科技董事长周群飞、源杰科技董事长张欣 刚、秦淮数据总裁汪冬宁、晶泰控股联合创始人兼董事局主席温书豪、长春高新总经理金磊等六位知名 上市公司领导发表了精彩演讲。他们围绕AI+、创新药等年内市场热点话题，分享了对产业趋势的真知 灼见及公司经营发展的最新情况，向海内外投资者展示了投资中国优势资产的确定性价值。 郑弘孟以"先进AI算力解决方案"为主题，阐述了AI服务器市场的超高速增长态势及生成式AI对数据中 心基建的推动作用。他强调，公司正依托AI服务器系统组装的核心优势，打通AI算力供应链多环节， 以智能制造与ESG为双轮驱动，赋能产业高质量发展。 投资快报记者池伟嘉 广州报道 11月6日至7日，"智见中国・扬帆未来"广发证券2025年全球投资 ...

Core Insights - The "Intelligent China: Setting Sail for the Future" forum hosted by GF Securities focused on key sectors such as AI, robotics, new energy, innovative pharmaceuticals, and new consumption, attracting around 80 renowned listed companies and numerous global institutional investors [1][3] - Key speakers included leaders from major companies who shared insights on industry trends and the latest developments in their businesses, emphasizing the value of investing in Chinese assets [1][2] Group 1: AI and Technology - Industrial Fulian's chairman highlighted the rapid growth of the AI server market and the role of generative AI in driving data center infrastructure, focusing on the company's core advantages in AI server system assembly [1][2] - Blue Glass Technology's chairman discussed the challenges and opportunities brought by AI hardware transformation, aiming to become a leader in the trillion-yuan AI hardware market by upgrading from component supplier to solution provider [2] - Qinhuai Data's president emphasized the need for deeper integration of energy and computing, aiming to create a new generation of AI intelligent computing data centers powered by green energy [2] Group 2: Pharmaceuticals and Innovation - The co-founder of Jingtai Holdings discussed how AI and robotics can significantly enhance the speed and efficiency of drug and material discovery, addressing traditional challenges in pharmaceutical development [2] - Changchun High-tech's general manager provided an overview of the company's innovative drug pipeline, reaffirming its commitment to innovation and efficiency in the pharmaceutical sector [2][3] Group 3: Future Directions - GF Securities plans to strengthen its research team in response to global industrial changes, focusing on AI, new energy, and innovative pharmaceuticals, while promoting Chinese listed companies to overseas investors [3]

证券日报网讯长春高新（000661）11月6日在互动平台回答投资者提问时表示，为持续提升公司核心竞 争力，公司聚焦内分泌代谢、女性健康等传统优势领域与肿瘤、呼吸、免疫相关创新方向，并稳步推进 有差异化和全球市场潜力的产品研发相关工作，目前有逾40种处于临床阶段或已提交新药临床试验申请 (IND)的候选药物。 ...

证券日报网讯长春高新（000661）11月6日在互动平台回答投资者提问时表示，目前公司重点推进相关 具备较高市场潜力的重点新产品的研发及销售工作，努力推动相关新业务成为公司新的业绩增长点，进 一步推进公司多元化转型升级，进而相关费用支出有所增加。同时，基于药品行业特点，新产品销售放 量需要一定的市场培育期。 ...

长春高新（000661.SZ）11月6日在投资者互动平台表示，为持续提升公司核心竞争力，公司聚焦内分泌 代谢、女性健康等传统优势领域与肿瘤、呼吸、免疫相关创新方向，并稳步推进有差异化和全球市场潜 力的产品研发相关工作，目前有逾40种处于临床阶段或已提交新药临床试验申请（IND）的候选药物。 （记者 张明双） 每经AI快讯，有投资者在投资者互动平台提问：公司的研发费用是三生制药的三倍以上，但是研发成 果不到其百分之一，请问这其中是否存在利益输送问题？公司没有研发能力为什么还要投入这么多资金 打水漂？ ...

每经AI快讯，有投资者在投资者互动平台提问：最近长春甲流严重，公司作为当地龙头企业，有没有 产品能配合当地应对？ 长春高新（000661.SZ）11月6日在投资者互动平台表示，公司子公司百克生物目前拥有鼻喷流感疫苗 （粉剂），同时近期液体鼻喷流感疫苗已获得生产批件，公司将积极推进相关产品的生产销售工作。 （文章来源：每日经济新闻） ...

长春高新在投资者互动平台回答称，为持续提升公司核心竞争力，公司聚焦内分泌代谢、女性健康等传 统优势领域与肿瘤、呼吸、免疫相关创新方向，并稳步推进有差异化和全球市场潜力的产品研发相关工 作，目前有逾40种处于临床阶段或已提交新药临床试验申请（IND）的候选药物。 ...

Investment Rating - The report maintains an "Overweight" rating for the pharmaceutical sector, specifically recommending the innovative drug and medical device industry chain [5][10]. Core Insights - The pharmaceutical sector shows a positive recovery trend in Q3 2025, with overall revenue growth of 0.6% year-on-year and a net profit increase of 0.3% year-on-year. This indicates a return to growth after previous declines [6][13]. - Specific segments such as medical devices and medical research outsourcing are experiencing significant growth, with revenue and net profit growth rates of 10.6% and 0.6% for medical devices, and 10.9% and 47.9% for medical research outsourcing, respectively [13][14]. - The report highlights a continued recommendation for specific A-share and H-share stocks, including 恒瑞医药 (Hengrui Medicine), 科伦药业 (Kelun Pharmaceutical), and others, indicating strong potential for investment [7][10]. Summary by Sections 1. Continued Recommendation for Innovative Drug and Medical Device Industry Chain - The report continues to recommend the innovative drug and medical device industry chain, maintaining "Overweight" ratings for several A-share stocks including 恒瑞医药, 科伦药业, and others, and H-share stocks like 翰森制药 and 三生制药 [7][10]. 2. Recovery Trend in Pharmaceutical Sector Q3 2025 - The pharmaceutical sector's overall revenue increased by 0.6% year-on-year in Q3 2025, with net profit rising by 0.3%. Medical devices and medical research outsourcing are leading this recovery with notable growth rates [13][14]. 3. Performance of Pharmaceutical Sector in October 2025 - In October 2025, the pharmaceutical sector underperformed compared to the broader market, with the SW pharmaceutical index declining by 1.8% while the Shanghai Composite Index rose by 1.9% [15][26]. 4. Performance of Hong Kong and US Pharmaceutical Sectors - The Hong Kong pharmaceutical sector also underperformed, with the Hang Seng Healthcare index down by 11.1%, while the US pharmaceutical sector showed strength with a 3.5% increase in the S&P healthcare index [26][27]. 5. Valuation and Premium Levels - As of October 31, 2025, the pharmaceutical sector's premium level relative to all A-shares is at a normal level, with a current relative premium rate of 76.7% [25][28].

Investment Rating - The report maintains a focus on innovative pharmaceuticals and medical devices, highlighting key A-share and H-share targets for investment [6][32]. Core Insights - The pharmaceutical sector showed a good recovery in Q3 2025, with overall revenue increasing by 0.6% year-on-year and net profit attributable to shareholders rising by 0.3% year-on-year [11][32]. - Medical equipment benefited from procurement recovery, with Q3 revenue and net profit growth of 10.6% and 0.6% year-on-year, respectively [11][32]. - Medical R&D outsourcing continued to achieve high growth, with Q3 revenue and net profit growth of 10.9% and 47.9% year-on-year [11][32]. - The offline pharmacy sector improved, with Q3 revenue and net profit growth of 2.1% and 37.8% year-on-year [11][32]. Summary by Sections 1. Focus on Innovative Pharmaceuticals and Medical Devices - Key A-share targets include Jiangsu Heng Rui Medicine, Sichuan Kelun Pharmaceutical, Huadong Medicine, Changchun High-tech Industry, Jiangsu Nhwa Pharmaceutical, WuXi AppTec, Hangzhou Tigermed Consulting, Lepu Medical, APT Medical, and related target Guangdong Zhongsheng Pharmaceutical [6][32]. - Key H-share targets include Hansoh Pharmaceutical Group, 3SBio, Akeso, and related target Innovent Biologics, WuXi AppTec [6][32]. 2. Q3 2025 Pharmaceutical Sector Recovery - The pharmaceutical sector's overall revenue increased by 0.6% year-on-year, with net profit attributable to shareholders up by 0.3% year-on-year [11][32]. - Specific segments such as medical devices and medical R&D outsourcing showed significant growth [11][32]. 3. October 2025 Market Performance - In October 2025, the pharmaceutical sector underperformed the market, with the SW Pharmaceutical and Biological index falling by 1.8% while the SHCOMP rose by 1.9% [14][32]. - The relative premium of the pharmaceutical sector compared to all A-shares was at a normal level, with a current relative premium rate of 76.7% [23][32]. 4. Hong Kong and U.S. Market Performance - The Hong Kong pharmaceutical sector underperformed, with the Hang Seng Healthcare index falling by 11.1% [24][32]. - In contrast, the U.S. S&P 500 healthcare sector rose by 3.5% [24][32].

Group 1 - Jinguang Electric won a bid for a State Grid procurement project with a total amount of 21.7976 million yuan, accounting for approximately 2.93% of the company's expected revenue for 2024 [1] - Shen Gong Co. plans to reduce its shareholding by up to 2%, equating to 340.61 million shares [2] - Guomai Culture received a government subsidy of 3.78 million yuan, representing 24.90% of its audited net profit for 2024 [2] Group 2 - Guomai Culture focuses on the development and provision of digital content operation platforms [3] - Shentong Technology's two directors plan to collectively reduce their shareholding by no more than 0.0473% [4] - Ruihua Tai intends to reduce its shareholding by up to 1%, amounting to 1.8 million shares [5] Group 3 - Guoji Automobile's wholly-owned subsidiary won a total contract project worth 809 million yuan [7] - Changcheng Technology's stock is expected to remain suspended due to potential changes in control [9] - Huabei Pharmaceutical's subsidiary received approval for a chemical raw material drug listing application [11] Group 4 - Fuyao Glass has changed its legal representative to Cao Hui [13] - Huaxi Biological plans to reduce its shareholding by up to 2%, totaling 9.6336 million shares [14] - Hopu Co. signed a procurement contract for a storage system worth 500 million yuan [15] Group 5 - ST Songfa's subsidiary plans to invest 458 million yuan in a mooring dock project [18] - Zhonghong Medical's subsidiary is expected to be selected for several centralized procurement projects [19] - Huakai Yibai's vice chairman plans to increase his shareholding by no less than 30 million yuan [20] Group 6 - Haichuang Pharmaceutical completed the first participant enrollment for a clinical trial of a drug for metabolic-associated fatty liver disease [21] - Dongfang Biological's subsidiary obtained medical device product registration certificates for multiple products [22] - Lepu Medical's rechargeable implantable deep brain stimulation system received NMPA registration approval [23] Group 7 - Changyuan Power's power generation in October decreased by 32.25% year-on-year [24] - Jinshi Yaya's diclofenac sodium sustained-release tablets passed the consistency evaluation for generic drugs [26] - Yutong Bus sold 3,040 buses in October, a decrease of 5.62% year-on-year [27] Group 8 - Far East Co. signed contracts worth 1.062 billion yuan in October [28] - Tianya Pharmaceutical's subsidiary passed the consistency evaluation for a drug [29] - Yuheng Pharmaceutical plans to resolve a debt dispute through a share transfer agreement [30] Group 9 - Hailanxin's subsidiary won a bid for a marine observation network project worth 1.097 billion yuan [31] - Huasheng Lithium plans to reduce its shareholding by up to 0.37% [33] - Maike Biological obtained product registration certificates for five new in vitro diagnostic products [34] Group 10 - Huayuan New Materials signed a strategic cooperation agreement with Taiblue New Energy [37] - Greebo's actual controller and some directors plan to collectively increase their shareholding by no less than 11.5 million yuan [39] - Yian Technology received a government subsidy of 1.1643 million yuan [41] Group 11 - Kangtai Biological's quadrivalent influenza virus vaccine has commenced Phase I clinical trials [43] - Spring Airlines received a commitment letter for a stock repurchase loan of up to 450 million yuan [45] - Foton Motor sold 8,006 new energy vehicles in October, a year-on-year increase of 98.83% [46] Group 12 - Greebo plans to transfer 100% equity of its subsidiary for 280 million yuan [48] - Siwei Liekong's director is under investigation [49] - Dingyang Technology launched a new generation of multi-channel microwave signal generator products [50] Group 13 - Jiangling Motors reported a year-on-year increase of 8.06% in vehicle sales for October [51] - Shengyi Technology plans to reduce its shareholding by up to 1.03% [52] - Dongshan Precision completed the acquisition of 100% equity of France's GMD Group for approximately 814 million yuan [53] Group 14 - Tianyang Technology plans to acquire 7.5% of Baoland's shares for 155 million yuan [54] - Alter plans to establish a joint venture company with a total investment of 672 million yuan [54] - Changchun High-tech's clinical trial application for a drug was approved [55] Group 15 - Beibu Gulf Port's cargo throughput in October increased by 22.73% year-on-year [56] - ST Zhangjiajie was ruled by the court to undergo reorganization [57] - Teda Co.'s subsidiary was selected as a supplier for an energy project in Indonesia [58]