Core Viewpoint - The chairman of Kelun Pharmaceutical, Liu Gexin, has gained attention through a promotional video for the company's ergothioneine capsules, showcasing his fitness at the age of 75, which has sparked discussions about the product's efficacy and authenticity [2][4][10]. Company Response - Kelun Pharmaceutical confirmed that the video featuring Liu Gexin is authentic and not digitally altered, emphasizing the chairman's commitment to a healthy lifestyle and the product's role in promoting health [4][6]. - The company stated that Liu has been taking ergothioneine capsules for three consecutive years while maintaining a fitness and reading routine, attributing his physical condition to a combination of lifestyle choices and the supplement [6][8]. Business Strategy - Liu Gexin announced a new venture into the anti-aging sector, marking it as his "fourth entrepreneurial journey" after previous successes in intravenous solutions, antibiotics, and innovative drugs [6][8]. - The company aims to establish an ecological platform for anti-aging, focusing on ergothioneine as a key product while expanding into other active anti-aging molecules and health supplements over the next three to five years [8][9]. Product Details - The ergothioneine capsules are priced at 1499 yuan for 60 capsules, marketed as a dietary supplement with claims of superior antioxidant effects compared to traditional ingredients [11][16]. - The product is produced in collaboration with a century-old Japanese pharmaceutical company, ensuring high-quality standards and global sales rights outside Japan [15][16]. Market Context - The anti-aging market in China is rapidly growing, with the silver economy projected to reach 12.3 trillion yuan by 2028, highlighting the potential for companies like Kelun to capitalize on this trend [18]. - Kelun Pharmaceutical is recognized as a leading player in the domestic pharmaceutical industry, with a comprehensive product range and a strong market position [17]. Research and Development - The company is actively conducting research on ergothioneine, with positive preliminary results from animal studies and user feedback indicating benefits such as improved sleep and increased energy [18][19]. - Kelun plans to collaborate with medical institutions for clinical trials to further validate the efficacy of its anti-aging products [18].

Market Overview - The market experienced a volume contraction with the ChiNext index dropping nearly 2% by the end of the day. The synthetic biology concept stocks surged, with companies like Chuaning Biological, Jieya Co., and Meinong Biological hitting the daily limit. The shipping sector saw a rise and subsequent fall, with Ningbo Shipping, Ningbo Ocean, and Lianyungang achieving three consecutive limits. Consumer stocks in food, apparel, and beauty care were active, with Xiwang Food, Lafang Cosmetics, and Fengzhu Textile also hitting the daily limit. Conversely, the military industry faced adjustments, with Tianjian Technology nearing a limit down, and computing power concept stocks weakened, with Hongjing Technology dropping nearly 10%. Overall, over 3,800 stocks in the Shanghai and Shenzhen markets declined, with a total transaction volume of 1.19 trillion [1]. Hot Topics Health Products - Kolun Pharmaceutical's advertisement for ergothioneine capsules has sparked significant discussion, with Chairman Liu Gexin personally endorsing the product. Ergothioneine is a natural small molecule derived from histidine thiourea, found in microbial cells and plants. It cannot be synthesized by the human body and must be obtained through diet, with mushrooms being a key source. Sales of oral beauty products containing ergothioneine on a major e-commerce platform surged by 60 times year-on-year in the first half of 2024 [4][5]. Shipping - The shipping sector remained active, with Ningbo Ocean and Lianyungang achieving three consecutive limits. Following trade negotiations between China and the U.S., container shipping bookings from China to the U.S. surged nearly 300%, with the average booking volume for 20-foot standard containers skyrocketing to 21,530, up from 5,709 a week prior. Goldman Sachs anticipates a significant increase in Chinese exports over the next 90 days due to a tariff suspension [6][8]. Consumer Sector - The consumer sector was lively, with stocks like Marubi, Dengkang Dental, and Baiyang hitting the daily limit. The Tmall 618 promotion commenced, with the first hour's GMV for popular beauty products increasing over 10% year-on-year. Additionally, the price of tilapia has risen to 4.5 yuan per pound, with China being a major producer and exporter of tilapia, producing over 1.6 million tons annually, with about a quarter exported to the U.S. [9][10]. Stock Performance - Notable stocks in the health products sector include: - Jiaoda Aongli (600530.SS) with a price of 7.50, up 9.97%, and a market cap of 5.812 billion - Lafang Cosmetics with a price of 21.97, up 10.02%, and a market cap of 4.948 billion - Chuaning Biological with a price of 14.02, up 20.03%, and a market cap of 8.635 billion [5][10]. - In the shipping sector: - Ningbo Ocean (601022.SS) at 11.12, up 9.99%, with a market cap of 2.765 billion - Lianyungang (601008.SS) at 6.77, up 10.08%, with a market cap of 8.399 billion [7][10]. - In the consumer sector: - Zhejiang Yongqiang (002489.SZ) at 4.07, up 10.00%, with a market cap of 7.786 billion - Marubi (603983.SS) at 52.53, up 10.01%, with a market cap of 21.065 billion [10].

Market Overview - A-shares experienced a trading volume of 11,524 billion, with all three major indices declining, indicating a potential end to the recent upward trend [1][2] - The market is currently facing a significant selling pressure as it approaches the 3,400-point level, which coincides with previous high points, leading to increased hesitation among investors [1] Sector Performance - The synthetic biology and beauty care sectors showed resilience, with notable gains, while the port and shipping sector remained active despite some internal differentiation [1][2] - The food and beverage sector rebounded, supported by government initiatives aimed at boosting consumer spending [2] Economic Influences - The cautious sentiment in the market is influenced by upcoming speeches from Federal Reserve officials, particularly Jerome Powell, and recent comments from Jefferson regarding potential economic slowdowns and inflation concerns in the U.S. [1] - The financial and technology sectors collectively adjusted, contributing to a bearish market atmosphere, as the indices lacked support [2] Future Outlook - The current market adjustment is viewed as a normal part of an upward trend, with expectations of a potential rebound as the market has not yet breached the 5-day moving average [2] - The market is anticipated to experience a pullback, but the overall sentiment remains optimistic for the future [2]

Market Overview - The market experienced a day of volatility on May 15, with the ChiNext Index leading the decline. The Shanghai Composite Index fell by 0.68%, the Shenzhen Component Index by 1.62%, and the ChiNext Index by 1.91% [1] - In terms of sector performance, synthetic biology, food, ST stocks, and ports saw gains, while software development, cross-border payments, computing power, and Hongmeng concept stocks faced declines [1] - Overall, more than 3,800 stocks declined across the market, with total trading volume in the Shanghai and Shenzhen markets at 1.15 trillion yuan, a decrease of 164.3 billion yuan from the previous trading day [1] Financial Sector Dynamics - The recent surge in large financial stocks led to a breakthrough of the Shanghai Composite Index above 3,400 points, prompting discussions about a potential mismatch in public fund allocations [3][5] - Analysts suggest that the current market lacks a clear mainline logic, with non-bank financials, coal, and public utilities showing signs of a rebound [5] Investment Strategy Insights - According to research from Xinda Securities, after May, with the earnings report disclosure period concluded and progress in China-US tariff negotiations, market risk appetite may increase, leading investors to refocus on growth stocks [5] - The report recommends focusing on sectors with positive fundamental changes driven by policy catalysts, such as military industry, metals benefiting from price increases, and financial real estate benefiting from stable growth [6] Sector Highlights - The beauty care sector surged by 6.46%, driven by a recent advertisement from Kelun Group promoting its anti-aging product, which has sparked interest in the anti-aging industry [15][17] - The anti-aging industry is categorized into medical and non-medical tracks, with the former focusing on foundational medical research and the latter encompassing various fields including sociology and artificial intelligence [17] ETF Market Activity - A new economy ETF (159822) experienced significant volatility, initially rising by approximately 9% before closing down by 1.22%. The trading volume increased to about 5.2 billion yuan, with a turnover rate of 1084.22% [8][10] - This ETF has shown similar short-term fluctuations earlier this year, indicating a pattern of rapid gains followed by declines [10]

Group 1 - The A-share market saw a new hotspot in the morning with the emergence of the ergotamine concept, leading to multiple stocks such as Chuaning Biological (301301), Ruoyuchen (003010), Jindawei (002626), and Liren Lizhuang (605136) hitting the daily limit [1][3] - Chuaning Biological experienced a "20CM" limit up, indicating strong investor interest in the ergotamine concept [1][4] - The beauty care sector surged, driven by the ergotamine concept, while the synthetic biology sector also saw gains [1][4] Group 2 - High-dividend assets like coal and banks performed well in the morning, while technology stocks experienced a pullback, suggesting possible institutional reallocation [7][8] - According to statistics from Caitong Securities, as of the first quarter, funds benchmarked against indices like CSI 300, CSI 800, and CSI 500 accounted for 71% of all actively managed public funds, indicating a low allocation to financial and public utility sectors [7][8] - The market's current dynamics may reflect expectations of public fund reallocation, with a potential rebound in allocations to banks, non-bank financials, and coal sectors in the medium to long term [8]

5月8日，科伦药业（002422.SZ）董事长刘革新以一则"赤膊上阵"代言产品的视频冲上热搜。5月14日， 刘革新通过公开信正式回应，宣布将抗衰老赛道作为继大输液、抗生素、创新药之后的"第四次创业"， 称其目标是"共建抗衰老事业的生态平台"。 政策层面看，我国积极应对人口老龄化国家战略深入推进，"健康中国2030"规划纲要明确将"提高人民 健康水平"作为核心。业内人士指出，这一政策导向为大健康产业注入强劲动力，抗衰老领域成为政策 红利的直接受益者。 为此，科伦药业在2024年11月投资设立科伦永年，负责麦角硫因等大健康产品的销售。 健身与产品的协同效应 公开资料显示，刘革新代言的产品"麦角硫因"于2022年11月1日首次出现在科伦药业的公告中。根据公 司公告，该产品由上海川宁药物研究院独立研发，工艺包成熟后，交付给科伦药业子公司川宁生物实现 商业化。 来源：科伦集团微信视频号 银发经济崛起叠加政策红利 当前，随着大众健康需求的不断增长和银发经济规模的不断扩大，抗衰老研究已成为国际生物医学领域 的前沿热点。国家统计局数据显示，截至2024年末，我国60岁及以上人口达到3.1亿人，首次突破3亿 人。老龄化加剧叠加 ...

暗盘资金正涌入这些股票，点击速看>>> 创新药板块拉升，哈三联（002900）涨停，万邦医药（301520）涨超10%，九芝堂（000989）、科伦药 业（002422）、凯莱英（002821）纷纷拉升。 ...

Core Viewpoint - Kelong Pharmaceutical is officially entering the anti-aging sector, marking its fourth entrepreneurial journey after previous successes with Kelong Pharmaceutical, Kelong Botai, and Chuaning Biological. This move comes in response to declining profits and prospects in its traditional intravenous product line [1][4]. Company Overview - Kelong Pharmaceutical, founded by Liu Gexin in 1996, has evolved from a manufacturer of intravenous solutions to a diversified pharmaceutical company. The company went public in 2010 and has since expanded its product offerings, including antibiotics and innovative drugs [3]. - In the first quarter of this year, Kelong reported a revenue of 4.4 billion yuan, a year-on-year decline of 29.42%, with a net profit of 584 million yuan, down 43% [4]. Industry Insights - The anti-aging industry is distinct from the traditional perception of aesthetic medicine, focusing on comprehensive life science applications aimed at systemic interventions to delay aging. The industry is still in its infancy, facing challenges such as a lack of skilled professionals and fragmented knowledge [5][7]. - By the end of 2024, China's anti-aging market is projected to reach approximately 600 billion yuan, accounting for 9% of the silver economy market. This figure is expected to grow to 4.6 trillion yuan by 2035, representing 15% of the silver economy [8]. Market Dynamics - The anti-aging market is characterized by a dual focus on medical and non-medical sectors, with the former relying on foundational medical research and the latter encompassing various fields such as sociology and artificial intelligence [8][9]. - China ranks second globally in the number of clinical trials related to anti-aging, with 37 trials registered from 2019 to the present, indicating a growing interest and investment in this sector [9]. Challenges and Opportunities - The anti-aging industry faces regulatory hurdles, particularly concerning the sale of products like NMN, which have not received the necessary approvals for domestic sales [10]. - There is a growing trend of hospitals establishing anti-aging clinics, although many public hospitals still lack dedicated anti-aging centers, highlighting a gap in service provision [11][12].

Core Viewpoint - The video featuring Liu Gexin, the controlling shareholder of Sichuan Kelun Pharmaceutical Co., Ltd., promoting the company's product, Ergothioneine capsules, has garnered significant attention, especially as the company faces a notable decline in profits due to the impact of centralized procurement on its infusion business [2][3]. Group 1: Company Performance - In the first quarter of this year, Kelun Pharmaceutical experienced a rare decline in both revenue and net profit, with net profit dropping over 43% year-on-year [2][11]. - The company reported a revenue of 4.39 billion yuan, a year-on-year decrease of 29.42%, and a net profit of 584 million yuan, reflecting a decline of 43.07% [11]. - Analysts attribute the decline to a high base from the previous year and the adverse effects of centralized procurement on the infusion business [11]. Group 2: Product Promotion and Market Strategy - Liu Gexin, aged 75, actively promotes the Ergothioneine capsules, showcasing his fitness and personal use of the product, which has gained over 5,100 likes on social media [3][4]. - The Ergothioneine capsules are priced at 1,499 yuan for a bottle of 60 capsules and are marketed as a cutting-edge anti-aging ingredient with superior antioxidant properties [5][6][8]. - The product is currently sold through a mini-program and is expected to expand to platforms like JD Overseas and Tmall International by late May or June [9]. Group 3: Market Potential and Industry Trends - The anti-aging market in China reached 64.6 billion yuan in 2020 and exceeded 80 billion yuan in 2021, with a growth rate of approximately 20% [12]. - Sales of Ergothioneine oral beauty products surged by 60 times on a specific e-commerce platform in the first half of 2024 [12]. - The market for health products containing Ergothioneine is rapidly growing, with numerous brands already incorporating it into their offerings [13]. Group 4: Regulatory Challenges - Currently, there are no registered or filed health products containing Ergothioneine in China, which poses a challenge for Kelun Pharmaceutical in marketing the product as a health supplement [10]. - Without proper registration or filing, the product cannot claim health benefits, as per China's Food Safety Law [10].

Core Viewpoint - The recent policy announced by Trump to align U.S. drug prices with the lowest global prices could lead to a significant decrease in prescription drug prices in the U.S., potentially by 30% to 80%, raising concerns among pharmaceutical companies, especially those exporting to the U.S. [1][2] Group 1: Market Performance - As of May 13, 2025, the CSI Hong Kong Stock Connect Pharmaceutical and Healthcare Composite Index (930965) rose by 2.42%, with notable increases in stocks such as BeiGene (06160) up 4.15% and Innovent Biologics (01801) up 3.14% [1] - The Hong Kong Pharmaceutical ETF (159718) opened high and increased by 2.04%, with a latest price of 0.70 yuan, and a one-month cumulative increase of 3.32% [1] - The CSI Pharmaceutical and Medical Device Innovation Index (931484) increased by 0.87%, with stocks like East China Pharmaceutical (000963) rising by 2.23% [4] Group 2: Trading Volume and Liquidity - The Hong Kong Pharmaceutical ETF had a turnover of 1.72% during the trading session, with a transaction volume of 4.0999 million yuan, and an average daily transaction volume of 95.7602 million yuan over the past month [1] - The latest scale of the Medical Innovation ETF (516820) reached 1.588 billion yuan [4] Group 3: Index Composition - The top ten weighted stocks in the CSI Hong Kong Stock Connect Pharmaceutical and Healthcare Composite Index accounted for 60.54% of the index, including BeiGene (06160) and WuXi Biologics (02269) [5] - The top ten weighted stocks in the CSI Pharmaceutical and Medical Device Innovation Index represented 66.51% of the index, featuring companies like Hengrui Medicine (600276) and WuXi AppTec (603259) [8]