| | 证券代码：002826 | | | | 证券简称：易明医药 | | | | | | 公告编号：2025-047 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 西藏易明西雅医药科技股份有限公司 | | | | | | | | | | | | 关于持股 | | | 5%以上股东股份提前解除质押的公告 | | | | | | | | | | | | | | | | 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。 | | | | | | | | | | | | | | 西藏易明西雅医药科技股份有限公司（以下简称"公司"）近日接到持股 | | | | | | | | | 5% | | | | | 以上股东周战先生的通知，获悉周战先生其质押的股份提前办理了解除质押手续， | | | | | | | | | | | | | 具体事项如下： | | | | | | | | | | | | | ...

证券代码：002826 证券简称：易明医药 公告编号：2025-047 西藏易明西雅医药科技股份有限公司 关于持股 5%以上股东股份提前解除质押的公告 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。 截至公告披露日，上述股东所持质押股份情况如下： 西藏易明西雅医药科技股份有限公司（以下简称"公司"）近日接到持股 5% 以上股东周战先生的通知，获悉周战先生其质押的股份提前办理了解除质押手续， 具体事项如下： 股东 名称 是否为控股 股东或第一 大股东及其 一致行动人 本次解除质 押股份数量 （股） 占其所持 股份比例 （%） 占公司总 股本比例 （%） 质押起始 日 解除日期 质权人 周战 否 2,600,000 20.88 1.36 2023 年 6 月 14 日 2025 年 6 月 20 日 广发证券股 份有限公司 周战 否 1,400,000 11.24 0.73 2023 年 6 月 20 日 2025 年 6 月 20 日 广发证券股 份有限公司 合计 -- 4,000,000 32.12 2.10 -- -- -- 一、 股东股份本次解除质押的基本 ...

Quantitative Models and Construction 1. Model Name: Heston Model - **Model Construction Idea**: The Heston model is used to calculate the implied volatility of near-month at-the-money options, serving as a market fear index. Implied volatility reflects market participants' expectations of future volatility [8]. - **Model Construction Process**: The Heston model is a stochastic volatility model where the variance of the asset price follows a mean-reverting square-root process. The model is defined by the following equations: $ dS_t = \mu S_t dt + \sqrt{v_t} S_t dW_t^1 $ $ dv_t = \kappa (\theta - v_t) dt + \sigma \sqrt{v_t} dW_t^2 $ Here: - \( S_t \): Asset price - \( v_t \): Variance - \( \mu \): Drift rate - \( \kappa \): Mean reversion speed - \( \theta \): Long-term variance - \( \sigma \): Volatility of variance - \( W_t^1, W_t^2 \): Correlated Wiener processes [8] 2. Model Name: Multi-Sector Timing Model (Scissor Difference Strategy) - **Model Construction Idea**: This model uses the difference in the number of bullish and bearish signals among sector constituents to construct a timing strategy. If no bullish or bearish signals are present, the scissor difference is set to zero. The model aims to outperform sector indices [16]. - **Model Construction Process**: - Count the number of bullish and bearish signals for each sector's constituent stocks daily. - Compute the scissor difference as the difference between bullish and bearish signals. - If both counts are zero, the scissor difference is set to zero. - Construct a timing strategy based on the scissor difference ratio [16]. - **Model Evaluation**: The model historically outperformed all sector indices, demonstrating excellent backtesting performance [16]. --- Model Backtesting Results 1. Heston Model - **Implied Volatility Results**: - SSE 50: 11.85% (down 0.88% WoW) - SSE 500: 14.35% (down 1.59% WoW) - CSI 1000: 18.06% (down 0.42% WoW) - CSI 300: 12.64% (down 0.73% WoW) [10] 2. Multi-Sector Timing Model - **Sector Outperformance**: The model outperformed all sector indices, achieving a 100% success rate in backtesting [16]. --- Quantitative Factors and Construction 1. Factor Name: Shape-Based Timing Signals - **Factor Construction Idea**: Shape-based signals are derived from historical K-line patterns, including bullish patterns (e.g., "Golden Needle Bottom," "Rocket Launch," "Manjianghong") and bearish patterns (e.g., "Hanging Line," "Paradise Line," "Dark Cloud Cover"). These patterns indicate potential price reversals [24]. - **Factor Construction Process**: - Identify specific K-line patterns based on predefined criteria. - Evaluate the historical performance of these patterns in predicting price movements. - Use the patterns to generate timing signals for individual stocks [24]. - **Factor Evaluation**: Bullish patterns like "Golden Needle Bottom" and "Rocket Launch" demonstrated strong positive predictive power [24]. --- Factor Backtesting Results 1. Shape-Based Timing Signals - **Signal Statistics**: - Positive signals: 2,699 occurrences, with an average future high-point success rate of 28.25% - Negative signals: 3,525 occurrences, with an average future low-point success rate of 71.88% [13] 2. Sector Timing Signals - **Bullish Sectors**: Home Appliances, Comprehensive, Communication, Textile & Apparel, Consumer Services, Transportation, Petrochemicals [19] 3. Stock-Specific Signals - **Consecutive Bullish Signals**: - 5-day signals: Stocks like Kailong Co. and Shipu Testing [21] - 4-day signals: Stocks like Jiangnan Chemical, Beijing-Shanghai High-Speed Railway, and Nandu Property [22][23] - **Special Bullish Patterns**: - Stocks like Retired Longyu ("Arrow on the String") and Suotong Development ("Manjianghong") [25][26] 4. Broker Gold Stock Signals - **Highlighted Stocks**: BYD, Feilihua, Wancheng Group, Sichuan Road & Bridge, Wolong Electric Drive, Lansheng Co., PetroChina, Dongpeng Beverage [29][33]

Core Viewpoint - The major shareholder of Xizang Yiming Xiya Pharmaceutical Technology Co., Ltd., Mr. Zhou Zhan, has reduced his shareholding by 1% through a series of transactions, which does not affect the company's control or governance structure [1][2]. Summary by Sections Shareholder Reduction Announcement - Mr. Zhou Zhan plans to reduce his shareholding by up to 3,590,000 shares, representing 1.8828% of the total share capital, within three months from the announcement date [1]. Share Reduction Progress - From June 11 to June 18, 2025, Mr. Zhou Zhan reduced his holdings by 1,906,777 shares, accounting for 1% of the total share capital and 1.02% of the total share capital excluding shares in the repurchase account [2]. - After the reduction, Mr. Zhou Zhan holds 12,454,925 shares, which is 6.53% of the total share capital and 6.66% excluding repurchased shares [2]. Impact on Company Control - The reduction in shareholding will not lead to any change in the company's control or significantly impact its governance structure and ongoing operations [2].

证券代码：002826 证券简称：易明医药 公告编号：2025-046 西藏易明西雅医药科技股份有限公司 关于公司持股 5%以上股东减持触及 1%的公告 董事、持股 5%以上股东周战先生保证向本公司提供的信息内容真实、准确、 完整，没有虚假记载、误导性陈述或重大遗漏。 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。 1 | 股票简称 | 易明医药 | 股票代码 | 002826 | | | --- | --- | --- | --- | --- | | 变动方向 上升□ 下降☑ | | 一致行动人 | 有□ 无☑ | | | 是否为第一大股东或实际控制人 | | | 是□ 否☑ | | | 2．本次权益变动情况 | | | | | | 股份种类 | | 减持股数（股） | 减持比例（%） | | | （A 股、B 股等） | | | | | | A 股 | | 1,906,777 | 1 | | | 合 计 | | 1,906,777 | 1 | | | 本次权益变动方式（可 | | 通过证券交易所的集中交易 | ☑ | | | 多选） | | 通过证券交易所的大宗交易 | □ | | | ...

证券代码：002826 证券简称：易明医药 公告编号：2025-045 西藏易明西雅医药科技股份有限公司 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： 本次利润分配以实施分配方案时股权登记日的总股本扣除公司回购专户上的股 份为基数，向全体股东每10股派发1.00元现金红利(含税)，剩余未分配利润结转 下一年度，本年度不进行红股派送和资本公积金转增股本。截至本公告披露日， 公司总股本190,677,750股，回购专户上已回购股份3,403,800股（不享有参与利 润分配的权利）。公司本次现金分配总额=实际参与分配的总股本×分配比例= （190,677,750-3,403,800）股×0.10元/股=18,727,395元； 折算每股派发现金红利，每股现金红利应以0.0982148元/股计算（每股现金红利 =现金分红总额÷公司总股本=18,727,395元÷190,677,750股=0.0982148元/股， 保留七位小数，最后一位不四舍五入）。2024年年度权益分派实施后的除权除息 参考价格按照上述原则及计算方式执行，即本次权益分派实施后的除权除息 ...

证券代码：002826 证券简称：易明医药 公告编号：2025-045 西藏易明西雅医药科技股份有限公司 2024 年年度权益分派实施公告 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。 特别提示： 1、西藏易明西雅医药科技股份有限公司（以下简称"公司"或"本公司"）， 本次利润分配以实施分配方案时股权登记日的总股本扣除公司回购专户上的股 份为基数，向全体股东每10股派发1.00元现金红利(含税)，剩余未分配利润结转 下一年度，本年度不进行红股派送和资本公积金转增股本。截至本公告披露日， 公司总股本190,677,750股，回购专户上已回购股份3,403,800股（不享有参与利 润分配的权利）。公司本次现金分配总额=实际参与分配的总股本×分配比例= （190,677,750-3,403,800）股×0.10元/股=18,727,395元； 2、本次权益分派实施后，计算除权除息价格时，将按总股本（含回购股份） 折算每股派发现金红利，每股现金红利应以0.0982148元/股计算（每股现金红利 =现金分红总额÷公司总股本=18,727,395元÷190,677,75 ...

Investment Rating - The report maintains a "Recommended" rating for the healthcare industry, indicating that the industry index is expected to outperform the benchmark index by more than 10% [7][24]. Core Insights - The pharmaceutical sector has shown a slight outperformance against the CSI 300 index, with the Shenwan Pharmaceutical Bio Index rising by 1.40% from June 9 to June 13, 2025, outperforming the CSI 300 by 1.65 percentage points [2][12]. - Year-to-date, the Shenwan Pharmaceutical Bio Index has increased by 9.33%, surpassing the CSI 300 by 11.13 percentage points, ranking 4th among 31 Shenwan primary industry indices [2][14]. - As of June 13, 2025, the valuation of the pharmaceutical sector stands at 28.29 times (TTM overall method, excluding negative values), with a valuation premium of 153.19% compared to the CSI 300 [2][17]. Summary by Sections 1. Market Performance - The pharmaceutical sector has outperformed the CSI 300 index, ranking 5th among 31 primary industry indices during the specified period [2][12]. - The sector's valuation reflects a significant premium over the broader market, indicating strong investor interest [2][17]. 2. Important Events - On June 13, 2025, a State Council meeting emphasized the need for enhanced evaluation of drug and consumable procurement policies, aiming for a more standardized and institutionalized approach to procurement [4][21]. - The meeting also highlighted the importance of improving public hospital compensation mechanisms and supporting pharmaceutical companies in enhancing innovation capabilities [4][21]. 3. Industry Perspective - The report notes that the procurement process in China's pharmaceutical sector has been ongoing for nearly a decade, expanding from solid oral formulations to include various drug categories and medical devices [5][22]. - There is a positive outlook for innovative drugs, overseas expansion, and sectors where procurement impacts have been cleared, suggesting potential growth opportunities [5][22]. - The report encourages attention to specific segments such as insulin and orthopedics, as well as certain generic drug companies, due to the ongoing acceleration of procurement processes [5][22].

证券代码：002826 证券简称：易明医药 公告编号：2025-044 西藏易明西雅医药科技股份有限公司 关于 5%以上股东部分股份质押展期的公告 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。 西藏易明西雅医药科技股份有限公司（以下简称"公司"）近日接到 5%以 上股东周战先生的通知，获悉周战先生将其持有的公司部分股票办理了质押展期 业务，具体事项如下： | | 是否为 控股股 | | | | 是否 为限 售股 | 是 否 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东 | 东或第 | 本次质押 展期股份 | 占其所 持股份 | 占公司 总股本 | （如 | 为 | 质押起 | | 原质押 | | 质押展 | | 质权 | 质押 | | 名称 | 一大股 | 数量 | 比例 | 比例 | 是， | 补 | 始日 | | 到期日 | | 期后到 | | 人 | 用途 | | | 东 ...

Group 1 - The central bank and the State Administration of Foreign Exchange jointly issued measures to support the construction of a multi-level financial market across the Taiwan Strait, encouraging more Taiwanese enterprises to participate in the development of the mainland financial market [1] - Ant International responded that it will apply for a stablecoin license in Hong Kong as soon as possible after the "Stablecoin Regulation Draft" comes into effect on August 1 [2] - A passenger plane of Air India crashed at Ahmedabad Airport, with 242 people on board [4] Group 2 - Qingmu Technology, which has seen two consecutive trading limit increases, currently only provides e-commerce operation services for the Pop Mart Tmall flagship store [5] - Flingel has completed its verification work, and its stock will resume trading from tomorrow [5] - North Mining Technology, which has seen four consecutive trading limit increases, faces risks related to a small external circulation [5] - New China Life Insurance plans to subscribe for no more than 15 billion yuan in private equity fund shares [5] - Yiming Pharmaceutical, which has seen seven consecutive trading limit increases, has uncertainties regarding the implementation and results of its share transfer agreement [5] - Yuanlong Yatu, which has seen six trading limit increases in ten days, states that there are no significant matters that should have been disclosed but were not [5]