Core Points - The Bioeconomy Index (970038) closed at 2277.51 points, down 0.16%, with a trading volume of 18.883 billion yuan and a turnover rate of 1.2% [1] - Among the index constituents, 23 stocks rose while 27 fell, with Iwubio leading the gainers at 6.71% and Meiya Optoelectronics leading the decliners at 3.02% [1] Index Constituents Summary - The top ten constituents of the Bioeconomy Index include: - Mindray Medical (sz300760) with a weight of 13.81%, latest price at 225.09 yuan, and a market cap of 272.908 billion yuan [1] - Changchun High-tech (sz000661) with a weight of 5.41%, latest price at 116.50 yuan, and a market cap of 47.525 billion yuan [1] - Kanglong Chemical (sz300759) with a weight of 4.66%, latest price at 31.97 yuan, and a market cap of 56.849 billion yuan [1] - Other notable constituents include Shishihistory (sz002252), Table Pharmaceutical (sz300347), and Muyuan Foods (sz002714) [1] Capital Flow Analysis - The Bioeconomy Index constituents experienced a net outflow of 871 million yuan from institutional investors, while retail investors saw a net inflow of 544 million yuan [3] - Key capital flows include: - Iwubio (300357) with a net inflow of 52.9277 million yuan from institutional investors [3] - Dabo Medical (002901) with a net inflow of 31.8434 million yuan from institutional investors [3] - Changchun High-tech (000661) with a net inflow of 27.6452 million yuan from institutional investors [3]

Investment Rating - The report maintains an "Overweight" rating for several pharmaceutical companies including Jiangsu Heng Rui Medicine, Hansoh Pharmaceutical Group, 3SBio, and Jiangsu Nhwa Pharmaceutical, with related targets such as CSPC Innovation Pharmaceutical [6][28]. Core Insights - The innovative drug sector is experiencing high prosperity, and the report continues to recommend innovative drugs and their industry chain. It highlights the recent global strategic collaboration between Innovent Biologics and Takeda, which is expected to catalyze the innovative drug market [6][29]. - The report notes that the A-Shares pharmaceutical sector underperformed the market in the fourth week of October 2025, with the SW Pharmaceutical and Biological index rising only 0.6% compared to a 2.9% increase in the SHCOMP [8][30]. - In the same period, the Hong Kong pharmaceutical sector also underperformed, while the U.S. pharmaceutical sector performed in line with the market [31][19]. Summary by Sections Continuous Recommendation of Innovative Drugs and Industry Chain - The report emphasizes the ongoing recommendation of innovative drugs and the industry chain, maintaining "Overweight" ratings for various companies including Heng Rui Medicine, Hansoh Pharmaceutical, 3SBio, and Nhwa Pharmaceutical. It also recommends Biopharma/Biotech companies with innovative pipelines and increasing performance, maintaining "Overweight" ratings for Innovent Biologics, Xiamen Amoytop Biotech, and others [6][28]. Performance of A-Shares Pharmaceutical Sector - In the fourth week of October 2025, the A-Shares pharmaceutical sector's performance was weaker than the overall market, with a 0.6% increase compared to the SHCOMP's 2.9% rise. The medical service, pharmaceutical commerce, and medical equipment sub-sectors showed relatively better performance [8][30]. Performance of Hong Kong and U.S. Pharmaceutical Sectors - The Hong Kong pharmaceutical sector underperformed the market with a decline of 0.8%, while the U.S. pharmaceutical sector matched the market performance with a 1.9% increase. Notable stock movements included significant gains for companies like WuXi AppTec and declines for Alphamab Oncology in Hong Kong [31][19].

Core Viewpoint - The Biotech Index (970038) closed at 2259.94 points, down 0.06%, with a trading volume of 17.182 billion yuan and a turnover rate of 1.24% on October 23 [1] Group 1: Index Performance - The Biotech Index had 26 stocks rising and 22 stocks falling on the day, with Huace Testing leading the gainers at a 3.03% increase, while Jingxin Pharmaceutical led the decliners with a 4.17% drop [1] - The top ten constituent stocks of the Biotech Index include: - Mindray Medical (13.81% weight, latest price 221.80, market cap 268.92 billion yuan) [1] - Changchun High-tech (5.41% weight, latest price 117.65, market cap 47.994 billion yuan) [1] - Kanglong Chemical (4.66% weight, latest price 31.44, market cap 55.906 billion yuan) [1] - Others include Shishi Yushang, Biao Ge Pharmaceutical, and more, all within the biotech and related sectors [1] Group 2: Capital Flow - The Biotech Index constituents experienced a net outflow of 502 million yuan from main funds, while retail investors saw a net inflow of 354 million yuan [3] - Detailed capital flow for key stocks includes: - Deep Technology: Main fund net inflow of 82.5949 million yuan, retail net inflow of 21.4 million yuan [3] - Mindray Medical: Main fund net inflow of 66.9479 million yuan, retail net outflow of 3.6088 million yuan [3] - Other stocks like Muyuan Foods and Kanglong Chemical also showed varying levels of net inflow and outflow from different investor categories [3]

Group 1 - The core point of the news is that Jingxin Pharmaceutical experienced a 5.02% decline in stock price, reaching 17.99 yuan per share, with a trading volume of 168 million yuan and a turnover rate of 1.27%, resulting in a total market capitalization of 15.49 billion yuan [1] - Jingxin Pharmaceutical, established on February 13, 1999, and listed on July 15, 2004, is located in Zhejiang Province and specializes in the research, production, and sales of chemical preparations, traditional Chinese medicine, biological preparations, chemical raw materials, and medical devices [1] - The company's main business revenue composition is 82.46% from pharmaceutical manufacturing and 17.54% from medical devices [1] Group 2 - According to data from the top ten holdings of funds, Hongtu Innovation Fund has a significant position in Jingxin Pharmaceutical, with its Hongtu Innovation Steady Mixed A Fund (006700) increasing its holdings by 68,000 shares in the second quarter, totaling 395,700 shares, which accounts for 2.95% of the fund's net value, ranking as the fifth-largest holding [2] - The Hongtu Innovation Steady Mixed A Fund was established on March 13, 2019, with a current scale of 748.024 million yuan, yielding 1.95% this year, ranking 7530 out of 8159 in its category, and a one-year return of 2.6%, ranking 7326 out of 8030 [2] - The estimated floating loss for the fund today is approximately 375,900 yuan [2]

Core Insights - The Biotech Economy Index (970038) closed at 2261.4 points, down 0.81%, with a trading volume of 16.635 billion yuan and a turnover rate of 1.19% [1] - Among the index constituents, 19 stocks rose while 30 stocks fell, with Meihao Medical leading the gainers at 6.53% and Prolo Pharma leading the decliners at 5.41% [1] Index Performance - The Biotech Economy Index experienced a decline of 0.81% on the reporting day [1] - The total market capitalization of the index constituents was significant, with major players like Mindray Medical valued at 266.98 billion yuan [1] Top Constituents - The top ten constituents of the Biotech Economy Index include: - Mindray Medical (13.81% weight, 220.20 yuan, -1.51% change, 2669.80 billion yuan market cap) [1] - Changchun High-tech (5.41% weight, 119.11 yuan, -0.97% change, 485.89 billion yuan market cap) [1] - Kanglong Chemical (4.66% weight, 30.96 yuan, +0.29% change, 550.53 billion yuan market cap) [1] - Other notable constituents include Taige Pharmaceutical, Muyuans, and Aimeike, all within the biotech and healthcare sectors [1] Capital Flow - The net outflow of main funds from the Biotech Economy Index constituents totaled 0.893 billion yuan, while retail investors saw a net inflow of 0.75 billion yuan [1] - Specific stocks like Kanglong Chemical and Meihao Medical experienced varying levels of net inflow and outflow from different investor categories [2]

Investment Rating - The report maintains a positive outlook on the innovative drug and medical device industry, highlighting key targets for investment [5][24]. Core Insights - The innovative drug sector is experiencing high growth, with a focus on companies such as Jiangsu Heng Rui Medicine, Hansoh Pharmaceutical Group, and others. The report emphasizes the potential for value re-evaluation in these firms [5][24]. - Recent business development (BD) deals in the innovative drug sector are expected to catalyze market activity, with notable transactions including Jiangsu Heng Rui Medicine's agreement with Kite for a $1.20 billion upfront payment, potentially reaching $15.20 billion in total [5][24]. - The A-share pharmaceutical sector underperformed the broader market in the third week of October 2025, with the Shanghai Composite Index falling by 1.5% and the SW Biopharma index declining by 2.5% [7][18]. Summary by Sections 1. Continuous Focus on Innovative Drugs and Medical Devices - The report emphasizes the high growth potential in innovative drugs, with key investment targets including Jiangsu Heng Rui Medicine, Hansoh Pharmaceutical Group, and others. Related targets include CSPC Innovation Pharmaceutical [5][24]. 2. A-Share Pharmaceutical Sector Performance - In the third week of October 2025, the A-share pharmaceutical sector saw a decline of 2.5%, underperforming the Shanghai Composite Index, which fell by 1.5%. The report notes that the sector's premium relative to all A-shares is currently at a normal level, with a relative premium rate of 74.5% [7][14][21]. 3. Hong Kong and U.S. Pharmaceutical Sector Performance - The report indicates that the Hong Kong and U.S. pharmaceutical sectors also underperformed, with the Hang Seng Healthcare index dropping by 5.8% and the S&P 500 Healthcare index increasing by only 0.7% during the same period [18][24].

Meeting Information - The shareholder meeting is scheduled for October 20, 2025, starting at 14:00, with online voting available from 9:15 to 15:00 on the same day [1] - The meeting will be held at the company's administrative building in Xinchang, Zhejiang Province [1] - The meeting will combine on-site and online voting methods [1] Shareholder Participation - A total of 205 participants, including shareholders and their proxies, attended the meeting, representing 336,073,660 voting shares, which is 41.2990% of the total voting shares [4] - Nine shareholders attended the meeting in person, representing 320,161,302 voting shares, or 39.3436% of the total [5] - 196 shareholders participated through online voting, representing 15,912,358 voting shares, or 1.9554% of the total [6] - Among the participants, 201 were small and medium investors, representing 18,736,326 voting shares, or 2.3024% of the total [7] Proposals Reviewed - The meeting approved the proposal regarding the "Fourth Employee Stock Ownership Plan (Draft)" with 333,752,180 votes in favor, accounting for 99.3092% of the valid votes [9] - The proposal for the "Fourth Employee Stock Ownership Plan Management Measures" was also approved with 333,752,480 votes in favor, representing 99.3093% of the valid votes [10] - The proposal to authorize the board to handle matters related to the fourth employee stock ownership plan was approved with 333,749,880 votes in favor, which is 99.3085% of the valid votes [11] Legal Compliance - The meeting was attended by a lawyer from Shanghai Jintiancheng Law Firm, who confirmed that the meeting's procedures and resolutions complied with relevant laws and regulations [12]

证券代码：002020 证券简称：京新药业 公告编号：2025057 浙江京新药业股份有限公司 2025 年第二次临时股东会决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 重要提示： 1、本次股东会无否决提案的情况； 2、本次股东会以现场投票和网络投票相结合的方式召开。 一、会议召开情况 1、本次股东会的召开时间 现场会议时间：2025 年 10 月 20 日 14:00 起。 6、本次会议的召集、召开与表决程序符合有关法律、法规、规章和公司章 1 程的规定。 二、会议出席情况 网络投票：通过深圳证券交易所交易系统进行网络投票的具体时间为 2025 年 10 月 20 日 9:15—9:25,9:30—11:30 和 13:00—15:00；通过深圳证券交易 所互联网投票系统进行网络投票的具体时间为 2025 年 10 月 20 日 9:15 至 15:00 的任意时间。 2、现场会议地点：浙江省新昌县羽林街道新昌大道东路 800 号本公司行政 楼一楼会议室。 3、会议召开方式：本次会议采取现场投票与网络投票相结合的方式。本次 股东会通过深圳证券交易所交 ...

上海市锦天城律师事务所 关于浙江京新药业股份有限公司 2025 年第二次临时股东会的 上海市锦天城律师事务所 法律意见书 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 9/11/12 层 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于浙江京新药业股份有限公司 2025 年第二次临时股东会的 法律意见书 致：浙江京新药业股份有限公司 上海市锦天城律师事务所（以下简称"本所"）接受浙江京新药业股份有限公 司（以下简称"公司"或"京新药业"）委托，就公司召开 2025 年第二次临时股东 会（以下简称"本次股东会"）的有关事宜，根据《中华人民共和国公司法》（以 下简称《公司法》）、《上市公司股东会规则》等法律、法规、规章和其他规范性 文件以及《浙江京新药业股份有限公司章程》（以下简称《公司章程》）的有关规 定，出具本法律意见书。 为出具本法律意见书，本所及本所律师依据《律师事务所从事证券法律业务 管理办法》和《律师事务所证券法律业务执业规则（试行）》等规定，严格履行 了法定职责，遵循了勤勉尽责和诚 ...

Group 1 - The company, Jingxin Pharmaceutical (002020), stated on October 17 that it will disclose the number of shareholders at the end of the reporting period in its regular reports [1] - For non-regular reports, shareholders can provide proof of shareholding to the company's secretary office, which will verify and provide the information [1]