Group 1 - A total of 29 stocks appeared on the weekly leaderboard, with 18 showing net purchases from the Shenzhen Stock Connect [1] - The top three stocks with the highest net purchases were Sifang Jingchuang (35,929.58 million), Changshan Pharmaceutical (10,596.30 million), and Xue Ren Co., Ltd. (10,102.46 million) [1] - The average increase for stocks with net purchases from Shenzhen Stock Connect was 20.97%, outperforming the Shanghai Composite Index, which fell by 0.03% [1] Group 2 - The stock with the largest increase was Yunnei Power, which saw a cumulative rise of 43.01% during the week [1] - There were 11 stocks with net sales, with Hongbo Co., Ltd. and Rongfa Nuclear Power leading in net sales amounts of 7,585.61 million and 5,520.27 million, respectively [2] - The stocks with the highest net sales included Huason Pharmaceutical (-2,740.42 million) and Guangju Energy (-3,627.83 million) [2]

证券代码：300255 证券简称：常山药业 公告编号：2025-27 河北常山生化药业股份有限公司 股票交易异常波动公告 本公司及其董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或者重大遗漏。 特别提示： 1．河北常山生化药业股份有限公司（以下简称"公司"）艾本那肽注射液尚未 上市销售。公司艾本那肽注射液用于治疗 2 型糖尿病的上市许可申请已经获得国家 药监局受理，目前处于专业审评阶段，艾本那肽最终能否获批上市及获批时间仍存 在不确定性。治疗 2 型糖尿病药物种类较多，GLP⁃1RA 为其中之一，即使未来艾本 那肽上市，也面临较高的市场竞争风险，盈利情况存在较大不确定性。 2．公司艾本那肽注射液拟用于减重适应症的临床试验申请已经获得国家药监局 受理，目前处于审评阶段，能否获得临床试验批准通知书存在不确定性。艾本那肽 即使获批开展减重适应症临床试验研究，临床试验进度及结果、未来产品市场竞争 形势均存在诸多不确定性。 3．艾本那肽是以公司控股子公司常山凯捷健生物药物研发（河北）有限公司（以 下简称"常山凯捷健"）为主体进行的研发注册，公司持有常山凯捷健51%股份，其 净利润中由上市公 ...

Market Overview - A-shares maintained a volatile consolidation trend with total trading volume shrinking again, while Hong Kong stocks surged in the afternoon, with both major indices rising [1] - The Shanghai Composite Index closed down 0.18% at 3340.69 points, the Shenzhen Component Index down 0.61% at 10029.11 points, and the ChiNext Index down 0.68% at 1991.64 points [1] New Consumption Sector - The "new consumption" concept stocks, particularly yellow wine and various beverages, saw a significant rise, with Kweichow Moutai (601579) hitting the daily limit and reaching a new high [3] - Kweichow Moutai reported over 10,000 viewers in a live broadcast on Douyin, with sales exceeding 10 million yuan in 12 hours, and over 40% of buyers aged 18-35 [3] - The company has launched a new line of sparkling yellow wine, catering to the younger demographic with diverse flavors [3] Food and Beverage Sector - Food and beverage stocks were active, with companies like Keta Bio (300858), Youyou Foods (603697), Junyao Health, and Quanyuan Spring all hitting the daily limit [4] - Keta Bio rose by 19.99% to 17.59 yuan, while Youyou Foods increased by 10.02% to 14.05 yuan [5] Innovative Drug Sector - The innovative drug concept saw a resurgence, with companies like Sanofi (688336) and Changshan Pharmaceutical (300255) both hitting new highs, with increases of over 15% [7] - Sanofi's stock rose by 15.31% to 58.90 yuan, while Changshan Pharmaceutical increased by 14.86% to 31.70 yuan [8] Pesticide Sector - The pesticide sector experienced a strong rally, with Zhongqi Co. (300575) hitting the daily limit with a 20% increase, and other companies like Yabeng Chemical (300261) and Hailier also seeing significant gains [10] - The recent explosion at a chemical plant in Shandong may lead to industry consolidation and reduced market supply, potentially driving up prices and improving the fundamentals of pesticide stocks [12]

Market Overview - The major stock indices in Shanghai and Shenzhen experienced a downward trend, with the Shenzhen Component Index and ChiNext Index dropping approximately 1% at one point. The Shanghai Composite Index closed down 0.18% at 3340.69 points, the Shenzhen Component Index down 0.61% at 10029.11 points, and the ChiNext Index down 0.68% at 1991.64 points. The total trading volume in the Shanghai and Shenzhen markets was 102.43 billion yuan, a slight decrease from the previous day [1]. New Consumption Sector - The "new consumption" concept stocks, particularly in yellow wine and various beverages, saw a significant rise. Kweichow Moutai hit the daily limit, reaching a new high, while companies like Junyao Health and Quanyuan Spring also hit the daily limit. Kweichow Moutai's online sales exceeded 10 million yuan within 12 hours during a live broadcast, with over 40% of buyers aged 18-35 [4][5]. - Kweichow Moutai launched a new product line targeting younger consumers, including various flavors and alcohol content, and partnered with Keep to promote health and fitness [4]. Innovative Pharmaceutical Sector - The innovative pharmaceutical sector showed strong performance, with companies like Sanofi and Changshan Pharmaceutical seeing significant gains, with Sanofi rising over 15% and Changshan Pharmaceutical nearly 15% [8][10]. - The upcoming ASCO annual meeting in 2025 is expected to showcase the progress of Chinese pharmaceutical companies in innovative drug development, with over 70 original research projects from Chinese scholars being presented [11]. Agricultural Chemicals Sector - The agricultural chemicals sector experienced a strong rally, with Zhongqi Co. hitting the daily limit and other companies like Yabeng Chemical and Hailier also seeing significant gains [13][14]. - An explosion at a chemical company in Shandong may lead to industry consolidation and reduced market supply, potentially driving up prices and improving the fundamentals of agricultural chemical companies [15][16].

Market Overview - The A-share market experienced a decline today, with the Shanghai Composite Index down 0.18%, the Shenzhen Component Index down 0.61%, and the ChiNext Index down 0.68% [1][2]. Sector Performance Consumer Sector - The consumer sector showed strength, particularly in the new consumption direction, with new beverage concepts seeing significant gains. Stocks such as Kweichow Moutai, Junyao Health, and Quanyangquan reached their daily limit [2]. - Within the new beverage concept, subcategories like functional drinks, probiotic drinks, yellow wine, and coconut juice are highlighted. The yellow wine concept performed strongly, with stocks like Jin Feng Jiu Ye, Gu Yue Long Shan, and Qing Fang Cheng experiencing substantial increases [2]. Pharmaceutical Sector - The pharmaceutical sector saw gains in innovative drugs and biological products, with companies like Changshan Pharmaceutical and Sanofi Genzyme experiencing significant stock price increases. Recent catalysts in the innovative drug sector are noted, with a focus on oncology, GLP-1, stem cells, and gene therapy as key areas of interest [4]. Chemical Sector - The chemical sector rallied in the afternoon, particularly in the glyphosate segment, with stocks like Zhongqi Co. and Zhongnong United reaching their daily limit. Other segments such as agricultural chemicals and chemical fibers also saw substantial increases [4]. Investment Insights - Huatai Securities indicates that the yellow wine industry has a rich heritage, with an optimized competitive landscape and upward supply-driven dynamics. The future of the yellow wine industry is expected to see a reconstruction of volume and price logic, with steady upgrades in consumption scenarios and a focus on brand cultivation by leading companies [2]. - Caitong Securities suggests focusing on three main lines in new consumption: emotional resources (pet economy, IP toys, temple economy), emotional resolution (beauty and personal care, gold and jewelry, new food and drink), and reasonable emotional release (outdoor economy, mild intoxication economy, tobacco) [3].

Group 1 - The core viewpoint is that the innovative drug sector is experiencing a significant recovery in stock prices, attracting attention from brokers for research and investment opportunities [2] - The Tianhong Innovative Drug ETF (517380) has seen a net inflow of 3.6 million yuan, with a current scale of 389 million yuan as of May 26 [1] - The Tianhong ETF is the only product that comprehensively covers the innovative drug sector across A-shares and Hong Kong stocks, with a focus on the "Hengsheng Huasheng Hong Kong Innovative Drug Selected 50" index [1] Group 2 - The innovative drug industry is entering a new cycle of value reassessment due to a combination of policy, industry, and performance factors [2] - Longjiang Securities suggests that the previous valuation methods used during the bear market may no longer be applicable, indicating a need for a re-evaluation of the valuation system for innovative drug companies [2] - There has been significant interest from brokers, with nearly 60 companies in the pharmaceutical and biotechnology sector being researched this month, highlighting the sector's attractiveness [2]

| | 证券代码：300255 证券简称：常山药业 | | | 公告编号：2025-25 | | | --- | --- | --- | --- | --- | --- | | | 河北常山生化药业股份有限公司 | | | | | | | 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 | | | | | | | 假记载、误导性陈述或重大遗漏。 | | | | | | | 河北常山生化药业股份有限公司（以下简称"公司"）近日接到控股股东高 | | | | | | | 树华先生函告，获悉高树华先生将其所持有本公司的部分股票解除质押，具体事 | | | | | | | 项如下： | | | | | | | 一、本次累计解除质押基本情况 | | | | | | | 是否为控股股东 | | | | | | | 本次解除质押 占其所持 占公司总 | | | | | | 股东名称 | 或第一大股东及 起始日 | | | 解除日 | | | 期 | 质权人 | | | | | | | 股份数量（股） 股份比例 股本比例 | | | | | | | 其一致行动人 | | | | | | | | | | 华润 ...

证券代码：300255 证券简称：常山药业 公告编号：2025-26 河北常山生化药业股份有限公司 关于为公司提供担保的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、担保情况概述 河北常山生化药业股份有限公司（以下简称"公司"、"母公司"）于 2025 年 5 月 19 日召开的 2024 年度股东大会审议并通过《关于提供担保额度预计的议 案》，同意全资子公司河北常山凯库得生物技术有限公司（以下简称"凯库得"） 为母公司借款融资提供不超过 6.4 亿元的担保额度，上述额度期限自股东大会审 议通过之日起至 2025 年度股东大会之日。具体内容详见公司刊登于巨潮资讯网 的《关于提供担保额度预计的公告》（公告编号：2025-14）。 二、担保进展 2025 年 5 月 26 日，凯库得与中国民生银行股份有限公司石家庄分行（以下 简称"民生银行"）签订了《最高额抵押合同》，为在约定期限和最高额度内公 司与民生银行签订的综合授信合同项下发生的全部/部分债务提供最高额 4.5 亿 元（其中最高债权本金额 3 亿元）抵押担保。 本次担保事项在已经审议的担保额 ...

河北常山生化药业股份有限公司 关于控股股东部分股票解除质押的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 证券代码：300255 证券简称：常山药业 公告编号：2025-25 截至公告披露日，上述股东及其一致行动人所持质押股份情况如下： | 股东名称 | 持股数量 | 持股比例 | 累计质押 股份数量 | 占其所 持股份 | 占公司 总股本 | 已质押股份情况 已质押股 | | 未质押股份情况 | 占未质 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | 份限售和 | 占已质 | 未质押股 | | | | （股） | | （股） | 比例 | 比例 | 冻结、标 | 押股份 | 份限售和 | 押股份 | | | | | | | | 记数量 | 比例 | 冻结数量 | 比例 | | 高树华 | 280,644,728 | 30.54% | 149,342,900 | 53.21% | 16.25% | 0 | 0% | 0 | 0% | 注：上表"已 ...

Group 1: Product Development and Clinical Trials - The company has completed the production capacity for Aibennate, with an annual production capability of over 20 million units [2] - The clinical trial for CSCJC3456 is progressing normally, with ongoing Phase I trials [2][5] - Aibennate is currently in the CDE's professional review stage for market approval [4][6] Group 2: Financial Projections and Revenue - The company aims to achieve over 10 billion in sales during the 14th Five-Year Plan period, having completed approximately 7 billion in sales so far [6] - The revenue for the second quarter is uncertain, and the company has not disclosed specific revenue projections [5][6] - The pricing for Aibennate will be determined post-approval based on market competition and production costs [4][8] Group 3: Market Strategy and Competition - Aibennate is positioned as a new GLP-1 drug, facing competition from multiple existing products in the market [8] - The company has not planned to introduce strategic investors at this time [7] - The company is focusing on expanding its heparin export business, particularly in formulation exports [8] Group 4: Internal Control and Management - The company is continuously optimizing its internal control system to mitigate management risks [3] - There are no plans to divest the heparin business despite its recent lack of profitability [7]