Core Insights - The company reported a revenue of 3.3 billion yuan for the first three quarters, representing a year-on-year growth of 19.95% [1] - The net profit attributable to shareholders decreased by 22.66% to 295 million yuan [1] - The net profit excluding non-recurring gains and losses increased by 44.49% to 311 million yuan [1] Financial Performance - Revenue for the first three quarters: 3.3 billion yuan, up 19.95% year-on-year [1] - Net profit attributable to shareholders: 295 million yuan, down 22.66% year-on-year [1] - Net profit excluding non-recurring items: 311 million yuan, up 44.49% year-on-year [1]

Core Insights - The article highlights the significant changes in the stock positions of various funds managed by the company, particularly in the healthcare sector, indicating a strategic shift towards high-performing stocks [1] Group 1: Fund Performance - The stock position of the China Europe Medical Health fund reached a record high of 94.56% [1] - The China Europe Medical Innovation fund significantly increased its holdings in Kanglong Chemical [1] Group 2: Stock Adjustments - The China Europe Medical Health fund made its first purchase of Haisco and increased its holdings in Kanglong Chemical, Baillie Gifford, Kylin Pharmaceutical, Tigermed, and Xinlitai [1] - The China Europe Medical Innovation fund reduced its positions in several stocks, including 3SBio and Kanyin Biotech [1] - The China Europe Mingrui New Starting Point fund increased its investments in Yangguang Electric, New Yisheng, Zhongji Xuchuang, Tianfu Communication, Hanwha, and Industrial Fulian [1]

Core Viewpoint - Despite strong performance with over 20% gains in two healthcare-themed funds managed by Guo Lan, the funds faced record net redemptions since inception [1][2]. Fund Performance - In Q3 2025, all three funds managed by Guo Lan significantly outperformed their respective benchmarks, with the China Europe Mingrui New Starting Fund achieving nearly 60% gains [2][9]. - The China Europe Healthcare Fund's stock allocation reached a historical high of 94.56% [2][3]. - The China Europe Healthcare Fund experienced a net redemption of 23.42 million shares in Q3, the highest since its inception, despite an increase in net asset value to 32.953 billion yuan [3][4]. Investment Strategy - The China Europe Healthcare Fund made its first investment in Haikang and increased holdings in Kanglong Chemical, Baili Tianheng, Kailai Ying, Tigermed, and Xinlitai [2][4]. - The China Europe Medical Innovation Fund significantly increased its position in Kanglong Chemical, while reducing stakes in several other companies [6][7]. - The China Europe Mingrui New Starting Fund diversified its investments, adding six new stocks, all of which saw price increases exceeding 100% during Q3 [9][10]. Market Outlook - Guo Lan remains optimistic about the investment value in innovative drugs, medical devices, and consumer healthcare, citing ongoing innovation and recovery in consumption as key drivers for the pharmaceutical industry [2][11]. - The report highlights the continued support for innovative drugs and the potential for new growth in the consumer healthcare sector due to demographic changes and policy support [12].

详见公司同日刊登于巨潮资讯网等公司指定信息披露媒体的 《2025 年第三季度报告》。 二、备查文件 海思科医药集团股份有限公司 第五届董事会第三十一次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 海思科医药集团股份有限公司（以下简称"公司"）第五届董事 会第三十一次会议（以下简称"会议"）于 2025 年 10 月 28 日以通 讯表决方式召开。会议通知于 2025 年 10 月 22 日以专人送达方式发 出。会议应出席董事 5 人，以通讯表决方式出席董事 5 人。会议由公 司董事长王俊民先生召集并主持。本次会议的通知、召开以及参与表 决董事人数均符合有关法律、法规、规则及《公司章程》的有关规定。 全体董事经过审议，以投票表决方式通过了如下决议： 一、审议通过了《2025 年第三季度报告》 表决结果：5 票同意、0 票弃权、0 票反对 本议案已经公司董事会审计委员会审议通过。 证券代码：002653 证券简称：海思科 公告编号：2025-115 经与会董事签字并加盖董事会印章的董事会决议。 特此公告。 海思科医药集团股份有限公司董事会 2025 ...

Core Insights - Company Haikang obtained the IND application acceptance notice for its innovative drug HSK44459, targeting inflammatory bowel disease [1] - The company reported a net profit attributable to shareholders of 166 million yuan for Q3 2025, representing a year-on-year decline of 23.32% [1] Company Summary - Haikang's new drug HSK44459 has received approval for a new indication, which is inflammatory bowel disease [1] - The financial performance for Q3 2025 shows a significant decrease in net profit compared to the same period last year [1]

Core Viewpoint - The company has received a notice from the National Medical Products Administration regarding the acceptance of the clinical trial application for HSK44459 tablets, aimed at treating inflammatory bowel disease [1] Group 1: Product Development - HSK44459 tablets are independently developed by the company for the treatment of inflammatory bowel disease [1] - Preclinical research results indicate that HSK44459 has independent intellectual property rights, confirmed efficacy, and good safety [1] Group 2: Clinical Trials - HSK44459 tablets have already received clinical trial approval notices for other indications, including interstitial lung disease, Behçet's disease, psoriasis, and atopic dermatitis, all of which are currently undergoing Phase II clinical studies [1]

Core Insights - The company reported third-quarter revenue of 1.299 billion yuan, representing a year-on-year increase of 22.05% [1] - Net profit for the third quarter was 166 million yuan, showing a decline of 23.32% [1] - For the first three quarters, total revenue reached 3.3 billion yuan, up 19.95% year-on-year [1] - Net profit for the first three quarters was 295 million yuan, down 22.66% compared to the previous year [1]

海思科医药集团股份有限公司 2025 年第三季度报告 证券代码：002653 证券简称：海思科 公告编号：2025-116 海思科医药集团股份有限公司 2025 年第三季度报告 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。 重要内容提示： 1.董事会及董事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个 别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、完 整。 3.第三季度财务会计报告是否经过审计 □是 否 1 海思科医药集团股份有限公司 2025 年第三季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增减 | | 年同期增减 | | 营业收入（元） | 1,299,291,566.83 | 22.05% | ...

证券代码：002653 证券简称：海思科 公告编号：2025-117 海思科医药集团股份有限公司 炎症性肠病（IBD）是一组慢性胃肠道非特异性炎性疾病，包括 溃疡性结肠炎（UC）和克罗恩病（CD），主要临床表现包括腹痛、腹 泻、黏液脓血便、瘘管以及肛周病变，病情缓解与复发交替，可伴随 患者终生。 IBD常用的治疗药物有氨基水杨酸、激素、硫唑嘌呤、环孢素、 沙利度胺等传统制剂，以及英夫利昔单抗、阿达木单抗、维得利珠单 抗等生物制剂，但这些治疗对很大一部分患者疗效不佳，或因不良反 应太大导致患者无法耐受。对于难治性IBD，患者亟需有效的替代方 1 案。 关于获得创新药 HSK44459 片新适应症 IND 申请 《受理通知书》的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 海思科医药集团股份有限公司（以下简称"公司"）于近日收到 国家药品监督管理局下发的《受理通知书》，基本情况如下： | 药品名称 | | 剂型 | 申请事项 | 适应症 | 受理号 | | --- | --- | --- | --- | --- | --- | | HSK44459 | 片 ...

Core Viewpoint - Tibet Zhihui Mining Co., Ltd. has submitted its application for listing on the Hong Kong Stock Exchange for the second time, focusing on the exploration, mining, and production of zinc, lead, and copper in Tibet. The company has shown signs of recovery in its financial performance for the first seven months of 2025 after a decline in 2024 [1][3]. Financial Performance - The company's revenue and net profit from 2022 to 2024 were 482 million, 546 million, and 301 million yuan respectively, with net profit dropping significantly from over 100 million to 55.85 million yuan in 2024 [3]. - The decline in performance was attributed to production line upgrades and weather-related delays, which reduced the annual selection volume to 321,800 tons, leading to a near halving of concentrate sales revenue [3]. - Following the completion of the processing plant upgrade in October 2024, the company has seen an increase in concentrate production due to improved ore grades, indicating a recovery in revenue for the first seven months of 2025 [3]. Market Outlook - The company anticipates a compound annual growth rate of 2.2% in domestic zinc concentrate demand from 2025 to 2028, driven by downstream industry development [4]. - The resource reserves at the company's Mongya Mine, which began production in 2007, are expected to be a key asset for its IPO, with the mine capable of supplying 400,000 tons of ore to the processing plant annually [3]. Customer Concentration Risk - The company faces significant customer concentration risk, with the top five customers accounting for approximately 93.9%, 90.1%, 88.1%, and 81.7% of total revenue from 2022 to 2025 [4][5]. - This heavy reliance on a few customers poses a risk to financial stability, as any reduction in orders from these concentrated clients could lead to substantial revenue losses [5].