Group 1 - CRO concept stocks have surged again, with WuXi AppTec (603259) hitting the daily limit, Boten Co. (300363) reaching a 20% limit up, and Medicy exceeding a 10% increase [1] - WuXi AppTec expects its adjusted net profit for the first half of 2025 to be approximately RMB 6.315 billion, representing a year-on-year growth of about 44.43% [1] - Significant dark pool capital is flowing into these stocks, indicating increased investor interest [1]

Core Viewpoint - The innovative drug concept continues to show strong performance, with significant stock price increases for companies such as Boteng Co. and Changshan Pharmaceutical, which rose over 15% [1] Group 1: Stock Performance - Boteng Co. and Changshan Pharmaceutical saw stock increases of over 15% [1] - WuXi AppTec experienced a nearly 9% rise [1] - Other companies like Kylin Pharmaceutical, Guangsheng Pharmaceutical, and Yifang Bio also saw stock increases of over 5% [1] Group 2: Policy Announcement - On July 10, the National Healthcare Security Administration announced the adjustment plan for the 2025 National Basic Medical Insurance, Maternity Insurance, and Work Injury Insurance Drug Catalogs, as well as the Commercial Health Insurance Innovative Drug Catalog [1] - The plan specifies that the adjustments to the basic medical insurance drug catalog and the establishment of the commercial health insurance innovative drug catalog will occur simultaneously in 2025 [1]

Summary of the Conference Call Records Industry Overview: CRO and CDMO Key Points on CRO Industry - The CRO (Contract Research Organization) industry is facing challenges due to intensified competition and weakened profitability after rapid capacity expansion [1][4] - Orders for CRO companies have decreased due to obstacles in innovative drug financing and changes in pharmaceutical policies, leading to a difficult destocking phase [1][4] - In 2024, the number of drug clinical trials in China is expected to grow by 16%, with Phase III trials increasing by 31%, indicating a push in innovative drug development [1][5] - The proportion of BE (Bioequivalence) trials is close to 50%, while Phase I trials have decreased, suggesting a slowdown in early clinical trials [1][5] - Major CRO companies like Zhaoyan New Drug and Tigermed are still expanding their workforce despite the pressure on profitability, indicating market share growth [1][6] Key Points on CDMO Industry - The CDMO (Contract Development and Manufacturing Organization) industry is significantly driven by large orders, particularly from COVID-19 drug commercialization [2][7] - From 2021 to 2023, major companies like WuXi AppTec, Kelun, and Boteng collectively generated $4.2 billion in revenue from large orders, with profits reaching $1.7 billion [2][7] - The development of the peptide industry is crucial for CDMO companies, with products like Semaglutide driving growth for companies like Nuotai and WuXi AppTec [3][8] - The ADC (Antibody-Drug Conjugate) industry is expected to maintain a compound annual growth rate of over 35% until 2030, reflecting strong demand for outsourcing services [3][8] Future Trends and Opportunities - The CRO industry is undergoing a transformation as companies adjust structures and optimize resource allocation to survive [4][6] - The introduction of new listing standards for unprofitable companies may alleviate financing issues for innovative drug firms, potentially boosting CRO demand [4][6] - The potential of alphablenton, a small molecule drug for chronic disease treatment, is highlighted, with a projected sales figure exceeding $29 billion by 2035 [3][11] - The market for chronic disease treatments is expected to grow significantly, with the global adult obesity population projected to rise from 760 million in 2020 to over 1 billion by 2030 [11][12] Additional Insights - The CRO industry is currently experiencing a downturn, with many small companies facing survival challenges, while leading firms are expanding their market share [4][6] - The complex synthesis routes of products like alphablenton contribute significantly to CDMO value, indicating a shift towards more specialized and high-value offerings [10][11] - The pain management market is projected to exceed $120 billion by 2027, with new drug developments addressing unmet clinical needs [13][14] This summary encapsulates the critical insights from the conference call, focusing on the current state and future outlook of the CRO and CDMO industries, along with emerging opportunities and challenges.

Group 1 - The company, Boten Co., Ltd. (300363), announced an expected net profit for the first half of 2025 to be between 0 million and 30 million yuan, compared to a loss of 170 million yuan in the same period last year [1]

[2025 Semi-Annual Performance Forecast](index=1&type=section&id=Chongqing%20BoTong%20Pharmaceutical%20Technology%20Co.%2C%20Ltd.%202025%20Semi-Annual%20Performance%20Forecast) The company anticipates a significant turnaround to profitability in the first half of 2025, with net profit attributable to shareholders projected between 0 and 30 million yuan [Key Performance Indicators Forecast](index=1&type=section&id=I.%20Current%20Period%20Performance%20Forecast) The company expects to achieve a turnaround to profitability in the first half of 2025, with net profit attributable to shareholders projected between 0 and 30 million yuan, a significant improvement from the 170.04 million yuan loss in the prior year period 2025 Semi-Annual Performance Forecast | Item | Current Reporting Period | Prior Year Period | | :--- | :--- | :--- | | **Net Profit Attributable to Shareholders** | **Profit: 0 Million Yuan ~ 30 Million Yuan** | **Loss: 170.04 Million Yuan** | | **Net Profit After Deducting Non-Recurring Gains and Losses** | **Profit: -10 Million Yuan ~ 10 Million Yuan** | **Loss: 174.11 Million Yuan** | [Communication with Accounting Firm](index=1&type=section&id=II.%20Communication%20with%20Accounting%20Firm) The financial data in this performance forecast represents the company's preliminary calculations and has not been audited by an accounting firm - The financial data related to this performance forecast has not been audited by an accounting firm[4](index=4&type=chunk) [Analysis of Performance Changes](index=1&type=section&id=III.%20Explanation%20of%20Performance%20Changes) The turnaround to profitability is primarily attributed to robust revenue growth (15%-20% year-on-year increase), stringent cost control, improved operational efficiency, and reduced losses from new businesses, leading to a significant increase in gross profit margin - Operating revenue for the first half of 2025 is projected to be **1.55 billion to 1.62 billion yuan**, representing a **15% to 20% year-on-year increase**[5](index=5&type=chunk) - Key drivers for improved profitability include: * Sustained growth in operating revenue * Strict cost and expense control * Efficiency improvements from lean operations * Reduced losses from new businesses[5](index=5&type=chunk) - Non-recurring gains and losses are approximately **18.21 million yuan**, primarily from cash management income on idle funds, significantly higher than **4.07 million yuan** in the prior year period[6](index=6&type=chunk) [Other Relevant Information](index=2&type=section&id=IV.%20Other%20Relevant%20Information) The company emphasizes that this performance forecast is a preliminary estimate by the finance department, with final data subject to the 2025 semi-annual report, and advises investors to be aware of investment risks - This performance forecast represents the preliminary calculations of the company's finance department, with specific financial data to be fully disclosed in the company's 2025 semi-annual report[7](index=7&type=chunk)

Group 1 - The Chongqing Liangjiang New Area has gathered multiple pilot test platforms represented by companies like Boji Pharmaceutical, Boteng Pharmaceutical, and Huaguan Biotechnology, providing "one-stop" services for the acceleration of scientific research results into industrialization [1][3] - Pilot test platforms are comprehensive support platforms that facilitate the transition of research results from laboratory development to large-scale industrial production, playing a key role in the commercialization of innovative outcomes [3] - The Ministry of Industry and Information Technology and the National Development and Reform Commission aim to cultivate over 20 pilot test capability construction platforms by 2027, serving more than 200 companies and incubating over 400 products [3] Group 2 - Boji Pharmaceutical's subsidiary, Chongqing Boji Pharmaceutical Co., Ltd., focuses on high-tech barrier and high R&D cost complex injection drug development and production, with a platform that includes R&D laboratories, quality testing centers, and sterile injection production workshops [4] - The company has incubated 8 pharmaceutical enterprises to date and aims to assist more clients in completing multiple major complex injection drugs for the first time in China, as well as achieving international registration and market expansion [4] - Boteng Pharmaceutical, also located in the Water and Soil New City, provides one-stop service solutions for small molecule drugs, peptides, oligonucleotide drugs, protein and conjugate drugs, and cell and gene therapy drugs, covering the entire lifecycle from preclinical research to drug commercialization [4] Group 3 - The Liangjiang New Area is recognized as a core area for the development of the life and health industry, currently hosting 25 various platforms related to technical services, administrative regulation, industrial incubation, scientific innovation, and clinical services [5] - The area is continuously optimizing its industrial ecosystem and improving its service system to inject momentum into the collaborative innovation development of the biopharmaceutical industry chain [5]

股票代码：300363 股票简称：博腾股份 公告编号：2025-034 号 重庆博腾制药科技股份有限公司 关于实际控制人部分股份质押及解除质押的公告 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。 重庆博腾制药科技股份有限公司（以下简称"公司"）于近日接到公司控股 股东、实际控制人之居年丰先生、张和兵先生（居年丰、陶荣、张和兵三人为一 致行动人）函告，居年丰先生、张和兵先生将其持有的公司部分股份分别办理质 押、解除质押等业务。具体情况如下： 一、股东股份质押及解除质押基本情况 | 股东名 | 是否为控股 | 本次质 | 占其所 | 占公司 | 是否为限 售股（如 | 是否 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 股东或第一 | 押数量 | 持股份 | 总股本 | 是，注明 | 为补 | 质押起始 | 质押到期 | 质权人 | 质押用途 | | 称 | 大股东及其 | （万 | 比例 | 比例 | 限售类 | 充质 | 日 | 日 | | | ...

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。 重庆博腾制药科技股份有限公司（以下简称"公司"）全资三级子公司上海 博腾智汇生物制药有限公司（以下简称"博腾智汇"）于近日获得欧盟质量受权 人（Qualified Person, QP）签发的符合性声明，顺利通过欧盟 QP 审计。 股票代码：300363 股票简称：博腾股份 公告编号：2025-033 号 重庆博腾制药科技股份有限公司 关于全资三级子公司通过欧盟 QP 审计的公告 本次审计依据 EU GMP Guidelines EudraLex Volume 4、EU Clinical Trial Regulation、GMP for IMP 及 ICH Q7/Q9/Q10 等指导原则，审计范围涵盖了质量 管理、生产管理、厂房设备设施、物料系统、包装与标签系统等方面。本次顺利 通过 QP 审计，标志着博腾智汇质量管理体系已达到欧盟 GMP 标准，能够为全 球客户提供符合国际标准的抗体与抗体偶联药物的定制研发生产服务。 本次通过欧盟 QP 审计不会对公司当前业绩产生较大影响，敬请广大投资者 谨慎决策，注意防范投资风 ...

本次审计依据 EU GMP Guidelines EudraLex Volume 4、EU Clinical Trial Regulation、GMP for IMP 及 ICH Q7 等指导原则，审计范围涵盖了小分子及新分 子 API 业务的质量管理、生产管理、厂房设备设施、物料系统、包装与标签系统 等方面。本次顺利通过 QP 审计，标志着博腾智拓质量管理体系已达到欧盟 GMP 标准，能够为全球客户提供符合国际标准的小分子、多肽与寡核苷酸、蛋白与偶 联药物的定制研发生产服务。 本次通过欧盟 QP 审计不会对公司当前业绩产生较大影响，敬请广大投资者 谨慎决策，注意防范投资风险。 重庆博腾制药科技股份有限公司 关于全资子公司通过欧盟 QP 审计的公告 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。 重庆博腾制药科技股份有限公司（以下简称"公司"）全资子公司上海博腾 智拓医药科技有限公司（以下简称"博腾智拓"）于近日获得欧盟质量受权人 （Qualified Person, QP）签发的符合性声明，顺利通过欧盟 QP 审计。 股票代码：300363 股票简称：博腾股份 ...

Market Overview - The Shanghai Composite Index closed at 3393.26 points, above the six-month moving average, with a change of 0.23% [1] - The total trading volume of A-shares reached 838.618 billion yuan [1] Stocks Breaking Six-Month Moving Average - A total of 184 A-shares have surpassed the six-month moving average today [1] - Notable stocks with significant deviation rates include: - Qitian Technology: 11.69% deviation, closing price 14.38 yuan, with a daily increase of 20.03% and turnover rate of 15.50% [1] - Haochen Medical: 8.62% deviation, closing price 3.12 yuan, with a daily increase of 9.86% and turnover rate of 6.44% [1] - Jinyinhai: 7.58% deviation, closing price 21.00 yuan, with a daily increase of 9.66% and turnover rate of 6.43% [1] Additional Stocks with Deviation Rates - Other stocks with notable performance include: - Guangyun Technology: 7.45% deviation, closing price 14.13 yuan, with a daily increase of 9.20% and turnover rate of 4.78% [1] - Yaowang Technology: 5.93% deviation, closing price 7.12 yuan, with a daily increase of 7.88% and turnover rate of 13.64% [1] - Nuotai Biotech: 5.91% deviation, closing price 55.37 yuan, with a daily increase of 10.36% and turnover rate of 5.58% [1] Summary of Other Stocks - Additional stocks with lower deviation rates that have just crossed the six-month moving average include: - Guangdong Hongtu: just above the six-month line [1] - Xinhe Shares: just above the six-month line [1] - Songjing Shares: just above the six-month line [1]