中国 市场策略 2025 年 7 月 1 日 中国 A 股月度报告 2025 年 6 月：得益于市场情绪和流动性改善，股市上 涨 | A股行业回报 | | | A股个股回报 | | 香港、美国上市中国公司回报 | | | --- | --- | --- | --- | --- | --- | --- | | 行业 | 1M (%) YTD (%) | | 代码 公司 | 1M (%) | 代码 公司 | 1M (%) | | 信息技术 | 9.7 | 7.5 | 002015.SZ 协鑫能科 | 76.3 | 1788.HK 国泰君安国际 | 195.7 | | 金融 | 7.3 | 8.2 | 002882.SZ 金龙羽 | 70.6 | AAPG.O 亚盛医药 | 62.3 | | 材料 | 6.9 | 10.9 | 002558.SZ 巨人网络 | 63.1 | 0917.HK 趣致集团 | 57.9 | | 通讯服务 | 5.7 | 10.9 | 002265.SZ 建设工业 | 48.8 | 2799.HK 中信金融资产 | 48.8 | | 工业 | 4.4 | 4.5 | 002463.SZ 沪 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Insights - The report highlights recent positive developments in the high-quality weight loss sector, particularly focusing on myostatin pathway clinical trial results from Regeneron and Scholar Rock, which demonstrate significant reductions in lean body mass loss when combined with GLP-1 medications [4][12] - The pharmaceutical and biotechnology sector experienced a decline of 4.35% in the third week of June 2025, underperforming the CSI 300 index by 3.9 percentage points, ranking 29th among 31 sub-industries [5][16] - The report emphasizes the potential of Activin receptor drugs, such as Eli Lilly's Bimagrumab and Lai Kai's LAE-102, to retain lean body mass and even promote muscle gain, with promising safety and pharmacokinetic data [4][12] Summary by Sections 1. Recent Developments in Weight Loss Sector - Regeneron's myostatin antibody Trevogrumab combined with semaglutide showed a 50.8% reduction in lean body mass loss over 24 weeks, compared to a 7.9 lbs loss with semaglutide alone [4][12] - Scholar Rock's myostatin antibody Apitegromab combined with Tirzepatide demonstrated a 54.9% reduction in lean body mass loss [4][12] 2. Market Performance - The pharmaceutical and biotechnology sector's decline of 4.35% in June's third week was the largest among all sectors, with the vaccine sector experiencing the smallest drop of 0.4% [5][21] - Other sub-sectors, such as blood products and medical consumables, also faced declines, with the largest drop seen in other biological products at 6.7% [5][21] 3. Recommended Stocks - Recommended stocks include major pharmaceutical and biotechnology companies such as Heng Rui Medicine, East China Medicine, and Innovent Biologics, among others [6]

Core Viewpoint - The chairman of Jiangsu Enhua Pharmaceutical Co., Ltd., Sun Pengsheng, has increased his shareholding in the company, reflecting confidence in the company's future development and performance growth [1][2][3]. Group 1: Shareholding Details - Sun Pengsheng acquired 237,900 shares on June 16, 2025, raising his total holdings to 49,738,538 shares, which represents 4.8713% of the company's total share capital [1][2]. - The actual controllers of the company, including Sun Pengsheng, collectively hold 166,890,250 shares, accounting for 16.4234% of the total share capital prior to the increase [2]. - After the increase, the total shares controlled directly and indirectly by the actual controllers amount to 486,986,571 shares, which is 47.9234% of the total share capital [2]. Group 2: Purpose and Method of Share Purchase - The purpose of the share purchase is based on Sun Pengsheng's firm confidence in the company's growth prospects and a reasonable assessment of the current stock price [3]. - The shares were acquired through the Shenzhen Stock Exchange's trading system via centralized bidding [3]. Group 3: Legal Compliance - The legal opinion from Beijing Lifang Law Firm confirms that Sun Pengsheng meets the qualifications to hold shares in a listed company and that the acquisition complies with relevant laws and regulations [3][4].

证券代码：002262 证券简称：恩华药业 公告编号：2025-041 江苏恩华药业股份有限公司 关于董事长增持本公司股票的公告 本公司及董事会全体人员保证公告内容真实、准确和完整，并对公告中的虚假记载、误 导性陈述或者重大遗漏承担责任。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 江苏恩华药业股份有限公司（以下简称"公司"或"本公司"）董事会于2025年6月17日 收到公司董事长孙彭生先生出具的《关于在二级市场增持公司股票的告知函》，董事长孙彭生 先生于2025年6月16日以自有资金通过深圳证券交易所股票交易系统以集中竞价交易方式增持 公司A股股票237,900股。现将公司董事长孙彭生先生本次增持公司股票的情况公告如下： 一、本次增持主体的基本情况 1、增持主体：孙彭生先生，男，1958年8月出生，中国国籍，无境外居留权，现任本公司 第七届董事会董事长。孙彭生先生本次增持前持有公司股份的数量为49,500,638股，占公司总 股本的比例为4.8713%。 2、相关一致行动关系持股情况 孙彭生先生与付卿先生、陈增良先生及杨自亮先生为一致行动人，对公司实行共同控制， 为本公司的实际控制人 ...

北京市立方律师事务所 关于江苏恩华药业股份有限公司 董事长增持本公司股票的 法律意见书 2025 年 6 月 北京市立方律师事务所 关于 江苏恩华药业股份有限公司董事长增持本公司股票的 法律意见书 致：江苏恩华药业股份有限公司 北京市立方律师事务所（以下简称"本所"）接受江苏恩华药业股份有限公司 （以下简称"恩华药业"或"公司"）的委托，根据《中华人民共和国证券法》（以 下简称"《证券法》"）、《上市公司收购管理办法》（以下简称"《收购办法》"）、 《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（2025 年修订）》等有关法律、法规和规范性文件的规定，以及本法律意见书出具日以前已 发生或存在的事实发表法律意见，按照律师行业公认的业务标准、道德规范和勤勉 尽责精神，就公司董事长孙彭生先生（以下简称"增持人"）于 2025 年 6 月 16 日 以自有资金通过深圳证券交易所股票交易系统以集中竞价交易方式增持公司 A 股股 票的相关事宜（以下简称"本次增持"）进行专项核查，并出具本法律意见书。 对本法律意见书，本所律师特作如下声明：本所律师依据《证券法》《律师事务 所从事证券法律业务管理办法 ...

Group 1 - The company held its seventh board meeting and supervisory board meeting on May 27, 2025, where it approved the proposal to repurchase and cancel part of the restricted stock [1] - The company will repurchase 390,209 shares of restricted stock at a price of 11.15 yuan per share, totaling 4,350,830.35 yuan [1] - After the repurchase and cancellation, the company's registered capital will decrease from 1,016,176,792 yuan to 1,015,786,583 yuan [1] Group 2 - The company notified creditors that they have 45 days from the announcement date to request debt repayment or guarantees [2] - Creditors must submit written requests along with relevant proof documents to the company [2] - The announcement provides contact details for the finance department for creditors to submit their claims [2]

Core Viewpoint - The legal opinion issued by Beijing Lifang Law Firm confirms the legality and validity of the procedures and results of Jiangsu Enhua Pharmaceutical Co., Ltd.'s 2025 first extraordinary general meeting of shareholders [1][6]. Group 1: Meeting Procedures - The extraordinary general meeting was convened by the second meeting of the seventh board of directors on May 27, 2025, and the notice was published on May 28, 2025 [2][3]. - The notice included details about the meeting's time, location, voting rights, and registration methods for shareholders [3][4]. - The meeting was held on June 13, 2025, combining on-site voting and online voting through the Shenzhen Stock Exchange trading system [3][4]. Group 2: Participant Qualifications - A total of 353 participants attended the meeting, representing 487,253,371 shares, which is 5.1838% of the total voting shares [4][5]. - The qualifications of the shareholders and their representatives were verified and deemed valid [5][6]. Group 3: Voting Procedures and Results - The voting was conducted through a combination of on-site and online methods, with the results aligning with the previously announced agenda [5][6]. - The meeting's resolutions required a two-thirds majority approval from the attending shareholders for special resolutions [6].

Meeting Details - The shareholders' meeting of Jiangsu Enhua Pharmaceutical Co., Ltd. was held on June 13, 2025, at 9:00 AM [1] - The meeting combined on-site voting and online voting, with specific voting times outlined for both methods [1] - The meeting was convened by the board of directors and presided over by Chairman Sun Pengsheng [1] Attendance and Voting - A total of 353 participants attended the meeting, representing 539,930,290 shares, which is 53.1335% of the total voting shares [2] - Among the attendees, 6 participated on-site, representing 487,253,371 shares (47.9497% of total voting shares), while 347 participated via online voting [2] - Small and medium investors accounted for 52,943,719 shares, or 5.2101% of the total voting shares [2] Proposal Voting Results - The meeting approved a proposal regarding the repurchase and cancellation of restricted stock, with all involved parties abstaining from voting [3] - The proposal required a two-thirds majority of the valid voting rights present at the meeting to pass, which was achieved [4] Legal Opinion - The meeting was witnessed by lawyers from Beijing Lifang Law Firm, who confirmed that the convening and voting procedures complied with relevant laws and regulations [4]

证券代码：002262 证券简称：恩华药业 公告编号：2025-040 关于回购注销部分限制性股票减资暨通知债权人的公告 本公司及董事会全体成员保证公告内容真实、准确、完整，对公告的虚假记载、误导性 陈述或重大遗漏负连带责任。 江苏恩华药业股份有限公司(以下简称"公司")于2025年5月27日召开了第七届董事会第 二次会议、第七届监事会第二次会议，审议通过了《关于回购注销部分限制性股票的议案》。 根据《上市公司股权激励管理办法》及公司《2024年限制性股票激励计划（草案）》等相关规 定，公司需回购注销激励对象已获授但尚未满足解除限售条件的限制性股票39.0209万股，回 购价格为11.15元/股，公司应支付的回购价款总额为4,350,830.35元。公司完成此次回购注销 后注册资本将由101,617.6792万元减少至101,578.6583万元。具体内容详见公司于2025年5月 28日在《证券时报》及巨潮资讯网（http://www.cninfo.com.cn）上披露的《关于回购注销部 分限制性股票的公告》（公告编号：2025-034），上述事项已于2025年6月13日经公司2025年 第一次临时股东大会审 ...

2025年第一次临时股东大会决议公告 证券代码：002262 证券简称：恩华药业 公告编号：2025-039 江苏恩华药业股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 特别提示： 2、本次股东大会不涉及变更以往股东大会已通过的决议。 3、为了尊重中小投资者权益（中小投资者是指以下股东以外的其他股东：①上市公司的 董事、监事、高管；②单独或者合计持有上市公司5%以上股份的股东），提高中小投资者对股 东大会重大决议事项的参与度，本次股东大会对中小投资者表决单独计票。 一、会议召开情况 （一）召开时间 现场会议召开时间：2025年6月13日（星期五）上午9：00。 网络投票时间：通过深圳证券交易所（以下简称"深交所"）交易系统进行网络投票的具 体时间为2025年6月13日的交易时间，即9:15—9:25，9:30—11:30和13:00—15:00；通过深交 所互联网投票系统投票的具体时间为2025年6月13日9:15至15:00的任意时间。 （二）现场会议召开地点：徐州市经济技术开发区龙湖西路31号恩华科技大厦3楼301会议 室。 1、本次股东大会 ...