Q&A 昂立康在创新转型战略上采取了哪些具体措施？ 昂利康 20250915 摘要 昂立康通过合作模式弥补创新药经验不足，核心新药包括亲和力 1,618（一类新药，预计 2026 年中有一期数据）和靶向 CD47 的周兆 型抗体药物（预计年内申报澳洲及国内 IND）。 与上海亲和力合作的亲和力 108 来古比星三期数据治疗软组织肉瘤预计 近期公布，肺癌二期临床进展顺利，显示出良好的市场前景。 一类新药亲和力 1,618 一旦成药，参考主流化疗单款销售额，预计销售 额有望达到 30 亿元以上级别，市值弹性巨大，具有显著的投资潜力。 昂立康制剂业务存量风险已出清，多个特色仿制药品种陆续上市并通过 集采中标放量，有望接力公司中长期快速增长。 原料及特色中间体业务方面，以头孢类为主的原料业务受国内抗生素行 业需求疲软影响，但预计从 2026 年开始企稳回升。 高纯度植物源胆固醇及衍生物盈利能力良好，为昂立康提供稳定丰厚现 金流，增强了公司的财务稳健性。 昂立康主业利润约 1.2 亿元，每年增速预计 30-50%，叠加创新药弹性 以及持续引进新的创新管线，公司未来业绩增长预期强劲。 昂立康未来业绩增长预期如何？ 公司主 ...

9月15日，昂利康跌5.02%，截至发稿，报43.17元/股，成交6.56亿元，换手率8.04%，总市值87.09亿 元。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 资料显示，浙江昂利康制药股份有限公司位于浙江省嵊州市嵊州大道北1000号，成立日期2001年12月30 日，上市日期2018年10月23日，公司主营业务涉及从事化学原料药及制剂的研发、生产和销售。主营业 务收入构成为：制剂43.46%，原料药39.82%，特色中间体12.44%，其他3.72%，药用辅料0.56%。 责任编辑：小浪快报 从昂利康十大流通股东角度 工银前沿医疗股票A（001717）基金经理为赵蓓。 截至发稿，赵蓓累计任职时间10年305天，现任基金资产总规模164.25亿元，任职期间最佳基金回报 263.6%， 任职期间最差基金回报-25.29%。 数据显示，工银瑞信基金旗下1只基金位居昂利康十大流通股东。工银前沿医疗股票A（001717）二季 度新进十大流通股东，持有股数380.22万股 ...

华富健康文娱灵活配置混合A（001563）基金经理为廖庆阳。 截至发稿，廖庆阳累计任职时间3年308天，现任基金资产总规模7402.7万元，任职期间最佳基金回报 42.84%， 任职期间最差基金回报-0.06%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 9月12日，昂利康涨5.01%，截至发稿，报43.39元/股，成交4.48亿元，换手率5.72%，总市值87.53亿 元。 资料显示，浙江昂利康制药股份有限公司位于浙江省嵊州市嵊州大道北1000号，成立日期2001年12月30 日，上市日期2018年10月23日，公司主营业务涉及从事化学原料药及制剂的研发、生产和销售。主营业 务收入构成为：制剂43.46%，原料药39.82%，特色中间体12.44%，其他3.72%，药用辅料0.56%。 从基金十大重仓股角度 数据显示，华富基金旗下1只基金重仓昂利康。华富健康文娱灵活配置混合A（001563）二季度持有股 数15万股，占基金净值比例为7.52%，位居第二大重仓股。根 ...

Group 1 - The chemical pharmaceutical sector increased by 0.78% on September 12, with Yuan Dong Biological leading the gains [1] - The Shanghai Composite Index closed at 3883.69, up 0.22%, while the Shenzhen Component Index closed at 12996.38, up 0.13% [1] - Notable gainers in the chemical pharmaceutical sector included Yuan Dong Biological, which rose by 11.33% to a closing price of 58.88, and Nuo Cheng Jian Hua, which increased by 11.14% to 29.62 [1] Group 2 - The chemical pharmaceutical sector saw a net inflow of 628 million yuan from institutional investors, while retail investors experienced a net outflow of 776 million yuan [2][3] - Major stocks with significant net inflows included Guang Sheng Tang with 264 million yuan and An Li Kang with 130 million yuan [3] - Conversely, stocks like Tai En Kang and Xin Ju Wei faced declines of 3.89% and 2.41%, respectively, indicating mixed performance within the sector [2]

8月26日，昂利康跌5.02%，截至发稿，报52.83元/股，成交8.97亿元，换手率8.70%，总市值106.57亿 元。 资料显示，浙江昂利康制药股份有限公司位于浙江省嵊州市嵊州大道北1000号，成立日期2001年12月30 日，上市日期2018年10月23日，公司主营业务涉及从事化学原料药及制剂的研发、生产和销售。主营业 务收入构成为：原料药48.60%，制剂35.57%，特色中间体13.01%，其他1.61%，药用辅料1.21%。 从基金十大重仓股角度 责任编辑：小浪快报 数据显示，建信基金旗下1只基金重仓昂利康。建信兴衡优选一年持有混合A（014781）二季度持有股 数4.28万股，占基金净值比例为2.82%，位居第五大重仓股。根据测算，今日浮亏损失约11.94万元。 建信兴衡优选一年持有混合A（014781）成立日期2022年6月21日，最新规模4364.84万。今年以来收益 48.06%，同类排名602/8194；近一年收益59.06%，同类排名1726/7962；成立以来收益14.97%。 建信兴衡优选一年持有混合A（014781）基金经理为马牧青。 截至发稿，马牧青累计任职时间3年243天， ...

Core Viewpoint - The company, Anglikang, reported a slight decline in revenue and net profit for the first half of 2025, but the market remains optimistic about its strategic focus on innovative drug development [1] Financial Performance - In the first half of 2025, Anglikang achieved revenue of 724 million yuan and a net profit of 65.93 million yuan, both showing a slight year-on-year decrease [1] - The company announced a cash dividend plan, proposing a distribution of 1 yuan per 10 shares, totaling approximately 19.61 million yuan, reflecting confidence in cash flow [1] Strategic Partnerships - Anglikang signed a strategic cooperation agreement with Afei Biopharmaceutical Technology Co., Ltd. and Qinhuali Biopharmaceutical Technology Co., Ltd., involving an upfront payment of 150 million yuan and milestone payments up to 620 million yuan for exclusive rights to develop and commercialize the innovative cancer drug ALK-N002 (IMD-1005) in mainland China and Hong Kong, Macau, and Taiwan [2] - The drug ALK-N002 is a novel IgG1 subtype antibody targeting CD47, which is expected to provide new immunotherapy options for cancer patients [2] Drug Development - Preclinical studies of ALK-N002 showed significant tumor growth inhibition in models of small cell lung cancer and lymphoma, with promising safety profiles [3] - The drug is set to enter the clinical application phase, supported by favorable efficacy and safety data [3] Production Expansion - Anglikang plans to invest 389 million yuan to establish a new production facility in Zhejiang, aiming to produce 8,000 tons of amoxicillin and 2,000 tons of ampicillin annually [4] - The project is expected to generate approximately 1.348 billion yuan in annual revenue and contribute 119 million yuan in profit, with a post-tax internal rate of return of 22.51% [4] Industry Positioning - The new production line will enhance Anglikang's competitive edge in the antibiotic raw material sector and improve integration within the penicillin supply chain [5] - The investment in raw material production is aligned with the company's strategy to strengthen its market position while promoting sustainable development through reduced energy consumption and waste emissions [5]

Group 1 - The stock price of Anglikon Pharmaceuticals dropped by 5.06% to 43.49 CNY per share, with a trading volume of 363 million CNY and a turnover rate of 4.37%, resulting in a total market capitalization of 8.773 billion CNY [1] - Anglikon Pharmaceuticals, established on December 30, 2001, and listed on October 23, 2018, is primarily engaged in the research, production, and sales of chemical raw materials and formulations [1] - The revenue composition of Anglikon Pharmaceuticals includes formulations at 43.46%, raw materials at 39.82%, specialty intermediates at 12.44%, other products at 3.72%, and pharmaceutical excipients at 0.56% [1] Group 2 - In the second quarter, Invesco Great Wall Fund held 48,000 shares of Anglikon, representing 4.95% of the fund's net value, making it the eighth largest holding [2] - The Invesco Great Wall Medical Industry Stock A fund, established on January 24, 2025, has a latest scale of 15.9413 million CNY and has achieved a return of 72.54% since inception [2] - The fund manager, Qiao Haiying, has a tenure of 10 years and 361 days, with total assets under management of 327 million CNY, achieving a best return of 147.43% and a worst return of -11.7% during the tenure [2]

Company Overview - Zhejiang Angli Kang Pharmaceutical Co., Ltd. is located at 1000 North Shengzhou Avenue, Shengzhou City, Zhejiang Province, established on December 30, 2001, and listed on October 23, 2018 [1] - The company's main business involves the research, production, and sales of chemical raw materials and formulations [1] Revenue Composition - The revenue composition of the company is as follows: formulations account for 43.46%, raw materials 39.82%, specialty intermediates 12.44%, others 3.72%, and pharmaceutical excipients 0.56% [1] Stock Performance - On September 4, the stock price of Angli Kang fell by 5.06%, closing at 43.49 CNY per share, with a trading volume of 363 million CNY and a turnover rate of 4.37%, resulting in a total market capitalization of 8.773 billion CNY [1] Fund Holdings - According to data, one fund under Lobo Mai holds a significant position in Angli Kang, specifically the Lobo Mai China Healthcare Equity Fund A (020142), which held 35,500 shares, representing 4.5% of the fund's net value, making it the eighth largest holding [2] - The fund has a current size of 14.5216 million CNY and has achieved a year-to-date return of 46.7%, ranking 327 out of 4222 in its category [2] Fund Manager Performance - The fund manager of Lobo Mai China Healthcare Equity Fund A is Li Tao, who has been in the position for 1 year and 254 days, with total assets under management of 29.2458 million CNY [3] - During Li Tao's tenure, the best fund return was 17.87%, while the worst return was 16.66% [3]

Overview - The market for Doxofylline tablets in China is steadily growing, driven by a large population of asthma patients, with sales expected to reach 125 million yuan in 2024, representing a year-on-year growth of 4.17% [1][8] - Public medical institutions account for over 90% of the sales, and the aging population is expected to further increase demand for Doxofylline tablets [1][8] Industry Chain - The upstream of the Doxofylline tablet industry includes raw materials, excipients, packaging materials, and pharmaceutical equipment; the midstream consists of production enterprises; and the downstream includes public medical institutions, physical pharmacies, e-commerce channels, and end consumers [4][5] Market Demand - The demand for Doxofylline tablets is significantly influenced by the procurement needs of public medical institutions, which are the primary sales channel due to the prescription nature of the drug [6] - As of the end of 2024, the number of medical institutions in China is projected to reach 1.092 million, a year-on-year increase of 2.0%, which will further expand the demand for Doxofylline tablets [6] Patient Demographics - The number of asthma patients in China is expected to reach 72.4 million in 2024, with a year-on-year growth of 4.32%, contributing to the increasing clinical demand for Doxofylline tablets [8] Competitive Landscape - The Doxofylline tablet market in China features both international companies and domestic firms, with local companies dominating the market. The competitive landscape is expected to evolve due to regulatory policies and procurement reforms [9][10] - Key domestic players include Fuan Pharmaceutical and Zhejiang Anglikang Pharmaceutical, with Fuan Pharmaceutical reporting a total revenue of 2.391 billion yuan and a gross profit margin of 52.96% in 2024 [10][11] Future Trends - The demand for Doxofylline tablets is anticipated to grow significantly in grassroots medical institutions as healthcare policies advance, leading to a downward trend in treatment accessibility [11] - Continuous implementation of volume-based procurement policies will encourage companies to enhance production efficiency and cost control, potentially increasing market concentration and optimizing the competitive landscape [11]

Group 1 - The core point of the article is that Anglikon (SZ 002940) announced a share buyback plan, repurchasing approximately 3.6 million shares, which accounts for about 1.78% of the total share capital, with a total transaction amount of around 50 million yuan [1][1][1] - The share buyback was conducted through a special securities account via centralized bidding, with the highest transaction price being 17 yuan per share and the lowest at 12.17 yuan per share [1][1][1] - As of the report date, Anglikon's market capitalization stands at 9.9 billion yuan [1][1][1] Group 2 - For the first half of 2025, Anglikon's revenue composition is entirely from the pharmaceutical manufacturing industry, with a 100% contribution [1][1][1]