Core Insights - XQ Eye Pharmaceutical (300573.SZ) reported its Q3 2025 results, revealing that as of October 28, 2025, nine institutional investors held a total of 10.4442 million shares, representing 4.26% of the company's total share capital. This marks a decrease of 3.08 percentage points in institutional ownership compared to the previous quarter [1] Group 1: Institutional Investors - A total of nine institutional investors disclosed their holdings in XQ Eye Pharmaceutical, with a combined shareholding of 10.4442 million shares, accounting for 4.26% of the total share capital [1] - The institutional ownership decreased by 3.08 percentage points compared to the previous quarter [1] Group 2: Public Funds - One public fund, Invesco Great Wall National Index 2000 Enhanced A, increased its holdings, while two public funds, Nord Quality Consumption and Southern CSI 500 ETF, reduced their holdings [2] - A total of 412 public funds did not disclose their holdings in the current period, including notable funds such as Guofu Deep Value Mixed A and E Fund Value Growth Mixed [2] Group 3: Social Security and Insurance Funds - One social security fund, the National Social Security Fund 502 Portfolio, did not disclose its holdings in the current period [2] - One insurance fund, China Life Insurance Co., Ltd. - Traditional - Ordinary Insurance Product - 005L-CT001, reduced its holdings slightly [2] Group 4: Foreign Investment - One foreign fund, Hong Kong Central Clearing Limited, increased its holdings by 1.48% compared to the previous period [2] - The Kuwait Government Investment Authority did not disclose its holdings in the current period [2]

Investment Rating - The report assigns a "Buy-A" investment rating to the company, with a target price of 98.10 CNY for the next six months [5][7]. Core Insights - The company reported a significant increase in revenue and net profit for the first three quarters of 2025, achieving 1.904 billion CNY in revenue and 599 million CNY in net profit, representing year-on-year growth of 32.27% and 105.98%, respectively [2][5]. - The overall gross margin for the company in Q1-Q3 2025 was 81.33%, an increase of 2.94 percentage points compared to the previous year, driven by the strong sales of its core product, low-concentration atropine eye drops [2][4]. - The low-concentration atropine eye drops are recognized in multiple guidelines as a foundational medication for long-term management of myopia in children and adolescents, indicating a large market potential and favorable competitive landscape [3][4]. Financial Performance - The company is expected to achieve net profits of 803 million CNY, 1.021 billion CNY, and 1.241 billion CNY for the years 2025, 2026, and 2027, reflecting year-on-year growth rates of 137.6%, 27.1%, and 21.5%, respectively [5][11]. - The projected earnings per share (EPS) for 2025 is 3.27 CNY, with a price-to-earnings (PE) ratio of 30 times [5][11]. - The company’s revenue is forecasted to grow from 2.565 billion CNY in 2025 to 3.848 billion CNY in 2027, with a compound annual growth rate (CAGR) of 20% [11][12]. Research and Development - The company is actively expanding its research and development pipeline, covering various common ophthalmic diseases, with several products making progress in clinical trials [4][5]. - Notable advancements include the initiation of phase III clinical trials for lidocaine eye gel and the completion of phase II trials for voriconazole eye drops [4].

Core Insights - The company reported a significant increase in revenue and net profit for Q3 2025, with revenue reaching 741 million yuan, a year-on-year growth of 35.34%, and net profit at 264 million yuan, up 117.45% [1] - For the first three quarters of 2025, total revenue was 1.904 billion yuan, reflecting a 32.27% increase, while net profit was 599 million yuan, marking a 105.98% rise [1] Group 1: Product Development and Market Expansion - The company has a comprehensive product line in ophthalmology, including treatments for myopia, dry eye, infections, and glaucoma, covering ten categories of ophthalmic drugs [1] - The sales growth in the first three quarters was primarily driven by increased sales of eye drop products, with the company expanding its presence in public hospitals and major private eye care groups [2] - The company has established a wide distribution network, including retail pharmacies and e-commerce platforms, to enhance drug accessibility for patients [2] Group 2: Innovation and Clinical Trials - The company is committed to innovation in the ophthalmic sector, with ongoing clinical trials for its SQ22031 eye drops and plans for further development of competitive ophthalmic products [3] - The company has received approval for its 0.01% atropine sulfate eye drops, with additional concentrations undergoing clinical trials for myopia control [2] - Future plans include increasing investment in innovative ophthalmic drugs and optimizing production processes to improve operational efficiency [3]

本报讯(记者李勇)沈阳兴齐眼药（300573）股份有限公司(以下简称"兴齐眼药")收入、利润继续保持逐 季增长的快速发展态势。据兴齐眼药10月28日晚间披露的2025年第三季度报告显示，今年前三季度，该 公司实现营业收入19.04亿元，同比增长32.27%；实现归属于上市公司股东的净利润5.99亿元，同比增 长105.98%。其中，第三季度单季，兴齐眼药实现营业收入7.41亿元，同比增长35.34%；实现归属于上 市公司股东的净利润2.64亿元，同比增长117.45%。 自创立以来，兴齐眼药始终高度重视新产品的研发，并将开发具有自主知识产权的新产品作为持续进步 和创新的目标。近年来，随着环孢素滴眼液、硫酸阿托品滴眼液等新产品陆续获批上市，兴齐眼药收 入、利润快速增长。今年以来，兴齐眼药的他氟前列素滴眼液获得药品注册证书，SQ-22031滴眼液治 疗神经营养性角膜炎、于伏立康唑滴眼液等相继进入Ⅱ期临床试验，SQ-129玻璃体缓释注射液获得临 床试验批准通知书。 兴齐眼药一直专注于眼科药物领域，是国内研发技术水平领先、产品线覆盖较广的专业眼科药物研发、 生产、销售企业。兴齐眼药坚持专业化发展道路，以不断提升公司的 ...

兴齐眼药(300573.SZ)发布2025年三季度报告，该公司前三季度营业收入为19.04亿元，同比增长 32.27%。归属于上市公司股东的净利润为5.99亿元，同比增长105.98%。归属于上市公司股东的扣除非 经常性损益的净利润为5.96亿元，同比增长105.76%。基本每股收益为2.44元。 ...

Core Viewpoint - Xingqi Eye Pharmaceutical (300573) reported strong financial performance for Q3 2025, with significant growth in both revenue and net profit driven by increased sales of eye drop products [1] Financial Performance - Q3 2025 revenue reached 741 million yuan, representing a year-on-year increase of 35.34% [1] - Q3 2025 net profit was 264 million yuan, showing a year-on-year growth of 117.45% [1] - For the first three quarters of 2025, total revenue was 1.904 billion yuan, up 32.27% compared to the same period last year [1] - Net profit for the first three quarters of 2025 amounted to 599 million yuan, reflecting a year-on-year increase of 105.98% [1] - Basic earnings per share for the first three quarters were 2.44 yuan [1] Product Performance - The growth in revenue for the first three quarters was primarily attributed to the increase in sales revenue from eye drop products [1]

Core Insights - The company reported a third-quarter revenue of 741 million yuan, representing a year-on-year increase of 35.34% [1] - The net profit for the third quarter was 264 million yuan, showing a significant year-on-year growth of 117.45% [1] - For the first three quarters, the total revenue reached 1.904 billion yuan, which is a year-on-year increase of 32.27% [1] - The net profit for the first three quarters amounted to 599 million yuan, reflecting a year-on-year growth of 105.98% [1]

沈阳兴齐眼药股份有限公司 2025 年第三季度报告 证券代码：300573 证券简称：兴齐眼药 公告编号：2025-054 沈阳兴齐眼药股份有限公司 2025 年第三季度报告 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。 重要内容提示： 1.董事会及董事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担 个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第三季度财务会计报告是否经过审计 □是 否 公司是否需追溯调整或重述以前年度会计数据 是 □否 追溯调整或重述原因：因公积金转增股本对基本每股收益与稀释每股收益进行重新计算。 | | | | | 本报告期 | | | | 年初至 报告期 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 上年同期 | | 比上年同 | 年初至报 | 上年同期 | | 末比上 | | | 本报告期 | | | 期增减 | ...

Core Insights - The internet healthcare sector experienced a slight increase of 0.43% on October 27, with Haixia Innovation leading the gains [1] - The Shanghai Composite Index closed at 3996.94, up 1.18%, while the Shenzhen Component Index closed at 13489.4, up 1.51% [1] Stock Performance Summary - Haixia Innovation (300300) saw a significant rise of 20.06%, closing at 7.66 with a trading volume of 1.7959 million shares and a transaction value of 1.292 billion [1] - Other notable gainers included: - Furuide (300049) up 5.05% to 70.77 with a transaction value of 766 million [1] - Xingqi Eye Medicine (300573) up 4.78% to 77.83 with a transaction value of 1.493 billion [1] - Conversely, several stocks in the sector experienced declines, such as: - Wandong Medical (600055) down 3.66% to 16.33 with a transaction value of 232 million [2] - Yuyue Medical (002223) down 3.53% to 35.80 with a transaction value of 1.218 billion [2] Capital Flow Analysis - The internet healthcare sector saw a net outflow of 47.5781 million from institutional investors, while retail investors contributed a net inflow of 252 million [2][3] - Specific stock capital flows included: - Haixia Innovation had a net inflow of 16.6 million from institutional investors but a net outflow of 10.3 million from speculative funds [3] - Furuide experienced a net inflow of 14.7 million from institutional investors but a significant outflow from retail investors totaling 108 million [3]

10月27日，兴齐眼药涨5.01%，截至发稿，报78.00元/股，成交12.49亿元，换手率8.64%，总市值191.37 亿元。 诺德品质消费（011078）基金经理为谢屹。 截至发稿，谢屹累计任职时间10年114天，现任基金资产总规模2.72亿元，任职期间最佳基金回报 125.72%， 任职期间最差基金回报-24.32%。 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。 责任编辑：小浪快报 从基金十大重仓股角度 数据显示，诺德基金旗下1只基金重仓兴齐眼药。诺德品质消费（011078）二季度增持3.14万股，持有 股数13.36万股，占基金净值比例为2.75%，位居第七大重仓股。根据测算，今日浮盈赚取约49.71万 元。 诺德品质消费（011078）成立日期2021年2月10日，最新规模2.51亿。今年以来收益19.76%，同类排名 4494/8226；近一年收益17.79%，同类排名4502/8099；成立以来亏损25.46%。 资料显示，沈阳兴齐眼药股份有限公司位于 ...