| 表格序號 | 大股東/董事/最高行政人員名 作出披露的 買入 / 費出或涉及的 每股的平均價 | | | | 持有權益的股份數目 佔已發行的 有關事件的日期相關 | | --- | --- | --- | --- | --- | --- | | | 博 | 原因 | 股份數目 | | (請參閱上述 * 註 有投票權股 (日 / 月 / 年) 權 | | | | | | | 解) 份百分比 | | | | | | | ( 96 ) | | CS20250827E00351 | Norges Bank 1101(L) HKD 92.0514 | | | 235,600(L) | 4,053,000(L) 14.71(L)26/08/2025 | 追加内容 本文作者可以追加内容哦 ! 增持后，Norges Bank最新持股数目为405.3万股，持股比例由13.85%上升至14.71%。 | 股份代號: | 06821 | | --- | --- | | 上市法國名稱: | 凱萊英醫藥集團(天津)股份有限公司 - H股 | | 日期 (日 / 月 / 年): | 01/08/2025 - 01/09/2025 | ...

格隆汇9月1日丨根据联交所最新权益披露资料显示，2025年8月26日，凯莱英(06821.HK)获Norges Bank在场内以每股均价92.0514港元增持23.56万股，涉资 约2168.73万港元。 增持后，Norges Bank最新持股数目为405.3万股，持股比例由13.85%上升至14.71%。 | 股份代號: | 06821 | | --- | --- | | 上市法國名稱: | 凱萊英醫藥集團(天津)股份有限公司 - H股 | | 日期 (日 / 月 / 年): | 01/08/2025 - 01/09/2025 | | 豪格序號 | 大股東/童事/最高行政人員名 作出披露的 買入 / 費出或涉及的 每股的平均價 | | | | | 持有權益的股份數目 佔已發行的 有關事件的日期相關 | | --- | --- | --- | --- | --- | --- | --- | | | 전 | 原因 | 股份數目 | | | (請參閱上述*註 有投票權股(日/月/年) 權 | | | | | | | | 125 2 份自分比 | | | | | | | | ( % ) | | CS20250827 ...

Core Insights - The company achieved revenue of 3.188 billion yuan in H1 2025, representing an 18.2% increase, and a net profit attributable to shareholders of 617 million yuan, up 23.7% [1] - The company’s overseas revenue showed robust growth, particularly in Europe, where revenue reached 548 million yuan, growing over 200% year-on-year, accounting for 17% of total revenue [2] - The company’s emerging business segment is entering a high-growth phase, with revenue from chemical macromolecules expected to double for the full year [4] Financial Performance - In H1 2025, the company reported a gross margin of 43.5%, an increase of 1.3 percentage points, and an adjusted net profit margin of 21.4%, up 5.4 percentage points [2] - The company’s revenue for Q2 alone was 1.647 billion yuan, reflecting a 26.94% increase, with a net profit of 291 million yuan, up 33.94% [1] - The company has a strong order backlog of 1.088 billion USD, indicating high revenue certainty for the full year, with expected revenue growth of 13-15% [2] Business Segments - The small molecule CDMO business generated revenue of 2.429 billion yuan in H1 2025, showing a steady growth of 10.6% [3] - The emerging business segment reported revenue of 756 million yuan, a significant increase of 51.2%, with a backlog growth of over 40% [4] - The chemical macromolecule business saw revenue of 379 million yuan, growing over 130%, with expectations for continued strong growth in the second half of the year [4] Future Outlook - The company anticipates revenue for 2025-2027 to be 6.755 billion, 8.066 billion, and 9.488 billion yuan, with year-on-year growth rates of 16.37%, 19.40%, and 17.63% respectively [4] - Net profit projections for the same period are 1.155 billion, 1.377 billion, and 1.668 billion yuan, with growth rates of 21.70%, 19.24%, and 21.11% respectively [4]

Group 1 - The weight loss drug concept sector increased by 1.80%, ranking 6th among concept sectors, with 33 stocks rising, including Puris with a 20% limit up, and Haoyuan Pharmaceutical, Medisi, and Xinnowei with increases of 13.70%, 8.96%, and 7.30% respectively [1][2] - The leading stocks in terms of net inflow of main funds in the weight loss drug sector included Heng Rui Pharmaceutical with a net inflow of 5.35 billion yuan, followed by Hanyu Pharmaceutical, Fosun Pharmaceutical, and Kailai Ying with net inflows of 819.35 million yuan, 618.34 million yuan, and 589.18 million yuan respectively [2][3] Group 2 - The main fund inflow ratios for stocks in the weight loss drug sector were led by Puris at 21.03%, followed by Nawei Technology at 11.85% and Sunshine Nuohe at 8.90% [3][4] - The stocks with significant daily trading volume and net inflow ratios included Heng Rui Pharmaceutical with a daily increase of 5.08% and a turnover rate of 1.60%, and Hanyu Pharmaceutical with a daily increase of 3.34% and a turnover rate of 13.37% [3][4] Group 3 - The weight loss drug sector saw a total net inflow of 5.52 billion yuan, with 27 stocks experiencing net inflows, and 6 stocks receiving over 500 million yuan in net inflows [2][3] - The stocks that experienced the largest declines included Dezhan Health, *ST Sansheng, and Borui Pharmaceutical, with decreases of 1.81%, 1.74%, and 1.60% respectively [1][6]

Group 1 - The A-share market saw a significant rise in CRO concept stocks, with notable increases in share prices for several companies [1] - Haoyuan Pharmaceutical experienced a rise of over 15%, while Chengdu XianDao and MeidiXi saw increases of over 11% and 10% respectively [1] - Other companies such as Bid Pharma, Boteng Co., and WuXi AppTec also reported gains exceeding 7% [1] Group 2 - The following table summarizes the performance of key CRO stocks, including their percentage increase, total market capitalization, and year-to-date performance [2] - Haoyuan Pharmaceutical: +15.19%, Market Cap: 14.7 billion, YTD: +95.07% - Chengdu XianDao: +11.02%, Market Cap: 10.7 billion, YTD: +116.70% - MeidiXi: +10.54%, Market Cap: 8.75 billion, YTD: +115.91% - Bid Pharma: +8.39%, Market Cap: 5.99 billion, YTD: +36.61% - Boteng Co.: +7.51%, Market Cap: 13.6 billion, YTD: +58.02% - WuXi AppTec: +7.43%, Market Cap: 303.4 billion, YTD: +90.82% - Sunshine Nuohe: +6.32%, Market Cap: 8.46 billion, YTD: +100.86% - Baicheng Pharmaceutical: +4.97%, Market Cap: 6.29 billion, YTD: +51.90% - Kailai Ying: +4.49%, Market Cap: 39 billion, YTD: +43.98% - NuoSiGe: +4.35%, Market Cap: 5.19 billion, YTD: +7.82% [2]

Core Viewpoint - Kailaiying's stock price has shown significant fluctuations, with a year-to-date increase of 40.92% and a recent decline over the past 20 days, indicating potential volatility in the market [1][2]. Financial Performance - For the first half of 2025, Kailaiying achieved a revenue of 3.188 billion yuan, representing a year-on-year growth of 18.20%, while the net profit attributable to shareholders was 617 million yuan, up 23.71% [2]. - The company has distributed a total of 2.405 billion yuan in dividends since its A-share listing, with 1.701 billion yuan distributed over the past three years [3]. Stock Market Activity - As of August 29, Kailaiying's stock price was 105.68 yuan per share, with a market capitalization of 38.108 billion yuan and a trading volume of 391 million yuan [1]. - The stock has seen a net inflow of 9.1262 million yuan from main funds, with significant buying and selling activity noted in large orders [1]. Shareholder Structure - As of June 30, 2025, Kailaiying had 41,300 shareholders, a decrease of 5.16% from the previous period, with no circulating shares per shareholder [2][3]. - Major shareholders include China Europe Medical Health Mixed A and Hong Kong Central Clearing Limited, with varying changes in their holdings [3].

香港联交所最新数据显示，8月26日，Norges Bank增持凯莱英（002821）(06821)23.56万股，每股作价 92.0514港元，总金额约为2168.73万港元。增持后最新持股数目为405.3万股，持股比例为14.71%。 ...

智通财经APP获悉，香港联交所最新数据显示，8月26日，Norges Bank增持凯莱英(06821)23.56万股，每 股作价92.0514港元，总金额约为2168.73万港元。增持后最新持股数目为405.3万股，持股比例为 14.71%。 ...

Investment Rating - The report maintains a "Buy" rating for the company [10] Core Views - In the first half of 2025, the company achieved operating revenue of 3.188 billion yuan, a year-on-year increase of 18.20%, and a net profit attributable to shareholders of 617 million yuan, up 23.71% year-on-year, indicating a significant profit growth rate surpassing revenue growth [5][6] - The small molecule CDMO business generated revenue of 2.429 billion yuan, growing by 10.6%, with a gross margin of 47.8%, benefiting from improved operational efficiency and cost control [6] - Emerging businesses continued to grow rapidly, with revenue of 756 million yuan, an increase of 51.22%, and a gross margin of 29.79%, with a backlog of orders increasing by over 40% year-on-year [7] - The company is accelerating global market expansion, with revenue from the US market at 1.789 billion yuan (up 0.45%), Europe at 548 million yuan (up 200%), and domestic market at 713 million yuan (up 3.44%) [8] Summary by Sections Financial Performance - The company reported a significant increase in both revenue and net profit in the first half of 2025, with revenue of 3.188 billion yuan and net profit of 617 million yuan, reflecting strong operational performance [5][6] - The projected revenue for 2025-2027 is 6.683 billion yuan, 7.623 billion yuan, and 8.758 billion yuan, with year-on-year growth rates of 15.1%, 14.1%, and 14.9% respectively [9] Business Segments - The small molecule CDMO segment is expected to maintain steady growth with 11 PPQ projects anticipated in the second half of 2025 [6] - The emerging business segment, particularly the chemical macromolecule business, is projected to continue its rapid growth, with expected revenue growth exceeding 130% year-on-year [7] Market Expansion - The company is making strides in global market expansion, with significant revenue growth in Europe and stable performance in the US and domestic markets [8]

Investment Rating - The investment rating for the company is "Buy" [3] Core Views - The company has maintained steady growth in its small molecule business, with new businesses expected to sustain rapid growth in the second half of 2025 [2] - In the first half of 2025, the company achieved revenue of 3.188 billion yuan, a year-on-year increase of 18.2%, and a net profit attributable to shareholders of 617 million yuan, up 23.7% year-on-year [1][2] Financial Performance - In the first half of 2025, the small molecule API business generated revenue of 2.43 billion yuan, a year-on-year increase of 10.6%, indicating stable growth [2] - The emerging business segment achieved revenue of 756 million yuan in the first half of 2025, a significant year-on-year increase of 51.2% [2] - The company has a total order backlog of 1.088 billion USD, with emerging business orders growing over 40% year-on-year, laying a solid foundation for future performance [2] - The chemical macromolecule CDMO segment saw revenue of 379 million yuan in the first half of 2025, a year-on-year increase of over 130% [7] - The biopharmaceutical CDMO segment generated revenue of 90 million yuan in the first half of 2025, a year-on-year increase of 70.74% [8] Future Outlook - The company is expected to continue strengthening its capabilities in small molecule "intermediates + APIs + formulations" integrated services, while also enhancing its presence in synthetic and biological macromolecule sectors [9] - Revenue forecasts for 2025-2027 have been adjusted slightly upward, with expected revenues of 6.659 billion yuan, 7.753 billion yuan, and 8.888 billion yuan respectively [9] - The earnings per share (EPS) estimates for 2025-2027 have been revised to 3.36 yuan, 3.82 yuan, and 4.27 yuan respectively [9]