证券日报网讯1月20日，众生药业（002317）在互动平台回答投资者提问时表示，公司RAY1225注射液 是具有全球自主知识产权的创新结构多肽药物，具有GLP-1受体和GIP受体双重激动活性，得益于优异 的药代动力学特性，具备每两周注射一次的超长效药物潜力，临床上拟用于2型糖尿病及肥胖/超重等患 者的治疗，目前正在积极推进III期临床试验。另外，RAY1225注射液获批开展新增适应症治疗"代谢相 关脂肪性肝炎"的药物临床试验。 ...

（文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：公司目前正在进行IND的RAY1225注射液是用于什么适 应症? 众生药业（002317.SZ）1月20日在投资者互动平台表示，公司RAY1225注射液是具有全球自主知识产权 的创新结构多肽药物，具有GLP-1受体和GIP受体双重激动活性，得益于优异的药代动力学特性，具备 每两周注射一次的超长效药物潜力，临床上拟用于2型糖尿病及肥胖/超重等患者的治疗，目前正在积极 推进III期临床试验。另外，RAY1225注射液获批开展新增适应症治疗"代谢相关脂肪性肝炎"的药物临床 试验。 ...

Group 1 - The core viewpoint of the news is that several listed companies have received target price upgrades from brokers, with notable increases for Guizhou Moutai, Zhongji Xuchuang, and Milkway, reflecting strong market confidence in these companies [1][2]. Group 2 - On January 19, the companies with the highest target price increases were Guizhou Moutai (35.17%), Zhongji Xuchuang (31.96%), and Milkway (29.95%), belonging to the liquor, communication equipment, and logistics industries respectively [1][2]. - A total of 17 listed companies received broker recommendations on January 19, with Zhongsheng Pharmaceutical receiving two recommendations, while Inner Mongolia Huadian and Foreign Service Holdings received one each [2][3]. Group 3 - Three companies received their first coverage from brokers on January 19: Foreign Service Holdings (rated "Buy" by Zhongyin International Securities), Qianli Technology (rated "Buy" by Dongwu Securities), and Zhongsheng Pharmaceutical (rated "Recommended" by Guolian Minsheng Securities) [3][4].

Group 1 - The core viewpoint of the article highlights the target price increases for several listed companies, with Guizhou Moutai, Zhongji Xuchuang, and Milkway leading the rankings with target price increases of 35.17%, 31.96%, and 29.95% respectively, across the liquor, communication equipment, and logistics industries [1][2] Group 2 - On January 19, a total of 17 listed companies received broker recommendations, with Zhongsheng Pharmaceutical receiving recommendations from 2 brokers, while Inner Mongolia Electric Power and Foreign Service Holdings received recommendations from 1 broker each [2][3] Group 3 - Three companies received their first coverage on January 19, including Foreign Service Holdings rated "Buy" by Zhongyin International Securities, Qianli Technology rated "Buy" by Dongwu Securities, and Zhongsheng Pharmaceutical rated "Recommended" by Guolian Minsheng Securities [3][4]

Core Viewpoint - On January 19, several brokerage firms provided target price recommendations for listed companies, with notable increases in target prices for Guizhou Moutai, Zhongji Xuchuang, and Milkewei, indicating strong potential in the liquor, communication equipment, and logistics industries respectively [1]. Group 1: Target Price Increases - Guizhou Moutai received a target price increase of 35.17%, with a highest target price of 1860.00 yuan [2]. - Zhongji Xuchuang's target price increased by 31.96%, with a highest target price of 799.00 yuan [2]. - Milkewei's target price rose by 29.95%, with a highest target price of 79.14 yuan [2]. Group 2: Brokerage Recommendations - A total of 17 listed companies received brokerage recommendations on January 19, with Zhongsheng Pharmaceutical receiving recommendations from 2 firms, while Inner Mongolia Huadian and Foreign Service Holdings received 1 recommendation each [3]. - Zhongsheng Pharmaceutical was the only company with multiple recommendations, indicating strong interest in the traditional Chinese medicine sector [3]. Group 3: First-Time Coverage - Three companies received first-time coverage on January 19, including Foreign Service Holdings with a "Buy" rating from Zhongyin International Securities, Qianli Technology with a "Buy" rating from Dongwu Securities, and Zhongsheng Pharmaceutical with a "Recommended" rating from Guolian Minsheng Securities [4].

Investment Rating - The investment rating for the company is maintained at "Buy-A" with a 12-month target price of 26.68 CNY per share [5]. Core Insights - The company has entered into a licensing agreement with Qilu Pharmaceutical to commercialize the GLP-1/GIP dual-target drug RAY1225 in China, which is expected to lead to significant sales growth [2][3]. - The company retains all rights to RAY1225 outside of China, including clinical development and marketing [2]. - Qilu Pharmaceutical's strong commercialization capabilities position RAY1225 for successful market entry and sales expansion in China [3]. Financial Projections - Projected revenues for the company from 2025 to 2027 are 28.53 billion CNY, 32.81 billion CNY, and 37.41 billion CNY, respectively [3]. - Expected net profits for the same period are 3.02 billion CNY, 3.78 billion CNY, and 4.46 billion CNY [3]. - The company is anticipated to enter a phase of realization of its innovative transformation, justifying a PE valuation of 60 times for 2026 [3]. Market Performance - As of January 16, 2026, the company's stock price was 22.10 CNY, with a total market capitalization of approximately 18.78 billion CNY [5]. - The stock has shown significant performance with a 12-month absolute return of 94.0% [6].

证券日报网讯 1月19日，众生药业在互动平台回答投资者提问时表示，公司正按会计准则对全年财务数 据进行积极核算，公司将严格依据信息披露规则及时履行信息披露义务。 （文章来源：证券日报） ...

2026年开年，国内创新药领域再添重磅合作。近日，广东众生药业股份有限公司（简称"众生药业"）发 布公告，控股子公司众生睿创与齐鲁制药签署许可协议，前者将RAY1225注射液在中国地区的生产与 商业化销售权授予后者。此次合作中，最高10亿元首付款及里程碑付款与双位数销售提成，能否帮助众 生药业摆脱传统业务困境，加速创新药突围？ 首付款2亿元 此次合作的核心标的RAY1225注射液，是众生睿创研发的、具有全球自主知识产权的创新结构多肽药 物，具有GLP-1受体和GIP受体双重激动活性，每两周注射一次。 目前，RAY1225注射液用于治疗中国肥胖/超重患者的安全性和有效性Ⅲ期临床试验（REBUILDING-2 研究），RAY1225注射液与口服降糖药物联合治疗2型糖尿病患者的安全性和有效性、司美格鲁肽注射 液对照的Ⅲ期临床试验（SHINING-3）和RAY1225注射液单药治疗2型糖尿病患者的安全性和有效性、 安慰剂对照Ⅲ期临床试验（SHINING-2）已完成全部参与者入组工作。 根据协议，众生睿创保留该许可知识产权的全部权利、权属和权益，在该许可产品获得药品监管部门上 市注册批准后，众生睿创为药品上市许可持有人 ...

【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 华安证券研报指出，众生药业RAY1225国内商业化合作落地，创新转型进入收获期。后续产品上 市后有权获得许可产品净销售额双位数的销售提成，国内商业化合作落地，持续关注产品后续开发。持 续关注流感创新药昂拉地韦片获批上市后逐步放量，同时，在研产品长效GLP-1RAY1225注射液在临床 Ⅱ期试验的结果，展现出了较好的疗效和安全性，国内商业化落地后，持续关注其海外权益授权，维持 此前盈利预测，维持"买入"投资评级。 （责任编辑：刘畅 ） ...

Investment Rating - The report assigns a "Buy" rating for the stock of Zhongsheng Pharmaceutical (002317) based on its potential for strong performance relative to the benchmark index [11]. Core Insights - The successful licensing agreement for RAY1225 injection with Qilu Pharmaceutical is expected to enhance domestic commercialization prospects [1][3]. - RAY1225 is a GLP-1/GIP dual-target peptide drug with promising pharmacokinetic properties, allowing for bi-weekly administration, and has completed participant enrollment in three Phase III clinical trials [2]. - The partnership with Qilu Pharmaceutical, a major player in the Chinese pharmaceutical market, is anticipated to maximize future commercialization benefits for Zhongsheng [3]. Financial Projections - Revenue forecasts for Zhongsheng Pharmaceutical are projected at RMB 2.601 billion, RMB 2.978 billion, and RMB 3.449 billion for the years 2025, 2026, and 2027 respectively, with corresponding net profits of RMB 301 million, RMB 395 million, and RMB 508 million [4]. - The expected EPS (diluted) for the same years is projected to be RMB 0.35, RMB 0.47, and RMB 0.60, with P/E ratios of 61.17, 46.58, and 36.29 respectively [4].