中国经济网北京7月28日讯康泰生物（300601）(300601.SZ)近日披露《关于控股股东、实际控制人的一 致行动人权益变动触及1%刻度的公告》。 本次减持不会导致公司控制权发生变更，也不会对公司治理结构及持续经营产生重大影响。 根据康泰生物披露的2024年年度报告，袁莉萍为加拿大籍。2020年5月底，康泰生物发布公告，杜伟民 与YUAN LIPING(袁莉萍)解除婚姻关系。 康泰生物于2020年非公开发行股票募集资金。经中国证券监督管理委员会《关于核准深圳康泰生物制品 股份有限公司创业板非公开发行股票的批复》(证监许可[2019]2705号)核准，康泰生物于2020年4月14日 非公开发行人民币普通股(A股)27,272,727股，发行价格为每股110元，募集资金总额为人民币300,000.00 万元，扣除承销费、保荐费及其他发行费用人民币1,469.03万元后，募集资金净额为人民币298,530.97万 元。上述募集资金到位情况业经信永中和会计师事务所(特殊普通合伙)审验并出具了 XYZH/2020BJA20593《验资报告》。康泰生物当前股价低于本次非公开发行股票的发行价格。 2021年康泰生物向不 ...

| 证券代码：300601 | 证券简称：康泰生物 公告编号：2025-058 | | --- | --- | | 债券代码：123119 | 债券简称：康泰转 2 | 深圳康泰生物制品股份有限公司 关于控股股东、实际控制人的一致行动人权益变动触及 1% 刻度的公告 公司股东袁莉萍女士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。 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。 深圳康泰生物制品股份有限公司（以下简称"公司"）于 2025 年 7 月 1 日披 露了《关于控股股东、实际控制人的一致行动人减持计划预披露的公告》（公告 编号：2025-055），袁莉萍女士计划自公告披露之日起十五个交易日后的三个月 内（法律法规、规范性文件规定不得进行减持的时间除外），以集中竞价或大宗 交易方式减持公司股份不超过 11,160,000 股（即不超过公司总股本比例 1.00%）。 本次减持计划的实施不会影响公司的治理结构和持续经营，不会导致公司控制权 发生变化。 公司于近日收到袁莉萍女士出具的《关于股份减持计划实施进展情况的告知 函》，其权益变动触及 1%刻度，现将有关情 ...

Summary of Key Points from the Conference Call Industry Overview - **Industry Focus**: The conference call primarily discusses the healthcare sector in China, particularly the medical technology (Medtech), in vitro diagnostics (IVD), retail pharmacies, hospitals, vaccines, and insulin markets [1][2]. Core Insights and Arguments Medtech - **Key Areas of Focus**: 1. Progress of capital equipment value-based procurement (VBP) and the trade-in policy [1] 2. Channel destocking trends [1] 3. Import substitution trends post-VBP, including intraocular lenses (IOLs) and IVD [1] - **VBP Impact**: The June bidding value data showed a year-on-year growth rate of 49%, but a month-on-month decline of 3%, indicating lower unit prices due to VBP [10]. IVD Market - **Weak Demand**: The IVD sector continues to face challenges, with a projected 20% year-on-year decline in the CLIA reagent market size for 2025 [19]. - **AmoyDx Performance**: AmoyDx is expected to grow against the trend due to its strong presence in compliant in-hospital sales channels, benefiting from the anti-corruption campaign [21]. Insulin Market - **Domestic Substitution**: The insulin industry has seen significant growth, particularly for insulin analogs from companies like Gan & Lee and THDB, which reported rapid revenue growth in 1Q25 [22]. Retail Pharmacies - **Market Pressure**: Retail pharmacies are under pressure due to strict reimbursement policies and weak consumer spending. However, there is a potential market-clearing trend expected by year-end [31]. Hospitals - **New Product Feedback**: Hospitals are seeing new product introductions, such as the new version of SMILE surgery and new PIOL products, which are expected to drive consumption recovery [1]. Vaccine Market - **Anti-Corruption Campaign**: The ongoing anti-corruption campaign within the CDC system is impacting vaccine demand and distribution channels [1]. Financial Performance and Estimates Earnings Revisions - **Mindray**: Annual earnings estimates revised down by 2.1% to 5.0% for 2025E-27E due to industry headwinds in medical equipment and IVD [2][37]. - **United Imaging**: Revenue and earnings forecasts adjusted down to reflect lower-than-expected bidding data [39]. - **SNIBE**: Earnings estimates revised down by 1.4% to 7.1% for 2025E-27E due to policy headwinds in the IVD sector [40]. Revenue Growth Expectations - **High Growth Companies**: THDB and Gan & Lee are expected to achieve the highest revenue growth due to a low base from VBP renewal in 2Q24 [6]. - **Mindray's Decline**: Mindray's China business is expected to decline by 26% year-on-year in 2Q25 due to IVD weakness [9]. Other Important Insights - **Trade-in Policy Concerns**: The trade-in stimulus fund is expected to run out, leading to a decline in applications and a reduced stimulus effect in the second half of 2025 [10]. - **Market Dynamics**: The healthcare market is experiencing a shift with increasing government support for procurement and a focus on innovative products [47][48]. Conclusion - The healthcare sector in China is facing various challenges, including policy headwinds, weak demand in certain segments, and the impact of ongoing reforms. However, there are also opportunities for growth, particularly in innovative products and domestic substitution trends. Companies like AmoyDx, Gan & Lee, and THDB are positioned to benefit from these trends, while others like Mindray and SNIBE are facing headwinds that may impact their performance in the near term.

Core Viewpoint - The market experienced a significant upward trend on July 24, with all three major indices reaching new highs for the year, indicating strong investor sentiment and market recovery [1]. Market Performance - The Shanghai and Shenzhen markets recorded a total trading volume of 1.84 trillion yuan, a decrease of 19.9 billion yuan compared to the previous trading day, with over 4,300 stocks rising across the market [2]. Sector Highlights - The Hainan Free Trade Zone concept stocks saw a collective surge, with over 20 stocks, including Hainan Airport, hitting the daily limit [3]. - Rare earth permanent magnet stocks also experienced substantial gains, with Guangsheng Nonferrous Metals reaching the daily limit [3]. - The super hydropower sector rebounded, with multiple stocks, including China Power Construction, hitting the daily limit [3]. Lithium Market Dynamics - The lithium carbonate sector saw a significant increase, with the main futures contract reaching a limit up at 77,240 yuan per ton, marking an 8% rise [4]. - Lithium mining stocks surged, with Tibet Mining and Yongshan Lithium Industry hitting the daily limit, and Tianqi Lithium A shares also achieving a rare limit up, marking its first limit up this year [4]. - A notice from the Yichun Natural Resources Bureau required local lithium mining companies to prepare resource verification reports by September 30, which some industry insiders view as a move to combat excessive competition in the lithium sector [5]. Vaccine Sector Movement - The biopharmaceutical vaccine sector saw a midday rally, with Zhifei Biological hitting the daily limit and Watson Bio rising over 14%, alongside other stocks like Kangtai Biological and Sanofi Health also experiencing gains [5]. Securities Sector Performance - The securities sector, often referred to as the "bull market flag bearer," performed well, with stocks like Guosen Securities and Bank of China Securities leading the gains [6].

Group 1 - The National Medical Insurance Administration announced that the basic medical insurance coverage rate will remain stable at around 95% during the 14th Five-Year Plan, with the number of insured individuals reaching 1.327 billion by 2024 [2] - The 11th batch of centralized procurement for drugs has been initiated, with new principles established to protect innovative drugs from price pressure, thereby encouraging R&D in the pharmaceutical industry [2] - Recent statistics show a significant increase in the number of new drug approvals globally, with 106 new drugs approved in June 2025, indicating a vibrant pharmaceutical research and development environment [3] Group 2 - The Biopharmaceutical ETF (159839) has seen a strong performance, with a 3.82% increase in the National Biopharmaceutical Index and notable gains in constituent stocks such as Zhifei Biological Products and Watson Bio [1] - The Biopharmaceutical ETF has experienced a substantial growth in scale, increasing by 13.76 million in the past six months, ranking in the top third among comparable funds [1] - Leveraged funds have been actively investing in the Biopharmaceutical ETF, with net purchases reaching 1.2935 million in recent days, indicating strong market interest [1]

格隆汇7月24日｜病毒防治股午后进一步拉升，其中，智飞生物涨超16%，沃森生物涨超13%，振东制 药、万孚生物涨超10%，达安基因10CM涨停，康泰生物、康希诺、百克生物、泰林生物、博拓生物等 跟涨。 | 代码 | 名称 | | 涨幅% ↓ | 总市值 | 年初至今涨幅%。 | | --- | --- | --- | --- | --- | --- | | 300122 | 智飞生物 | 1 | 16.86 | 577亿 | -8.29 | | 300142 | 沃森生物 | や | 13.39 | 210亿 | 8.80 | | 300158 | 振东制药 | 1 | 10.70 | 65.55亿 | 50.93 | | 300482 | 万孚生物 | 1 | 10.37 | 120亿 | 13.25 | | 002030 | 达安基因 | -06- | 9.95 | 101亿 | 26.41 | | 000955 | 欣龙控股 | → | 9.92 | 30.42 Z | 36.47 | | 300601 | 康泰生物 | | 8.67 | 197亿 | 3.73 | | 688185 | 康希诺 | + ...

Group 1 - The A-share biopharmaceutical sector experienced a significant afternoon rally, with notable increases in stock prices [1] - Zhifei Biological surged over 14%, while Watson Bio rose more than 12% [1] - Other companies such as Kangtai Biological, Sanyuan Gene, Bohui Innovation, Baike Biological, and Zhixiang Jintai also saw gains [1]

Core Viewpoint - The company’s PCV13 vaccine recently received GMP certification from the Turkish drug regulatory authority, indicating that the product meets the necessary conditions for entry into the Turkish market, which is expected to further open up the Turkish market and lay a solid foundation for expansion into surrounding markets in the Middle East and Africa [1][2][3] Event - On July 1, the company announced that its wholly-owned subsidiary, Minhai Biotech, received GMP certification for its 13-valent pneumococcal conjugate vaccine (PCV13) from the Turkish drug regulatory authority, confirming that the production facilities, processes, quality control, and quality management systems comply with Turkey's stringent drug production quality management standards [2] Company Expansion - The company has been continuously advancing its overseas business expansion, having reached cooperation agreements with over ten countries regarding the registration, promotion, commercialization, and technology transfer of products such as PCV13, PPSV23, varicella live attenuated vaccine, and quadrivalent vaccine [3] - The first batch of PCV13 finished products is expected to be successfully exported to Indonesia by August 2024. The recent GMP certification from Turkey signifies that the product is now eligible for entry into the Turkish market, which may further open up the international market for PCV13 and contribute to the company's overseas revenue growth [3] Sales Performance - In Q1 2025, the company achieved operating revenue of 645 million yuan, a year-on-year increase of 42.85%. The net profit attributable to the parent company was 22 million yuan, a year-on-year decrease of 58.51%. The net profit excluding non-recurring gains and losses was 17 million yuan, a year-on-year increase of 17.56%. The revenue and net profit excluding non-recurring items increased mainly due to steady sales of PCV13 and hepatitis B vaccines, along with contributions from new products such as human diploid rabies vaccine and varicella vaccine [4] - The decline in net profit attributable to the parent company was primarily due to a decrease in non-recurring gains such as government subsidies [4] Future Outlook - The company is optimistic about maintaining steady growth in performance driven by the sales of conventional vaccine products in the second half of the year, as it actively strengthens terminal sales and optimizes channel inventory while promoting the market entry of new products [4] - The company forecasts operating revenues of 2.963 billion yuan, 3.446 billion yuan, and 3.816 billion yuan for 2025 to 2027, representing year-on-year growth rates of 11.8%, 16.3%, and 10.8%, respectively. The net profit attributable to the parent company is expected to be 209 million yuan, 381 million yuan, and 526 million yuan, with corresponding year-on-year growth rates of 3.4%, 82.6%, and 38.3% [5]

Group 1 - The market showed positive performance last week, with the China Securities Xinhua National Brand Index rising by 1.78% to 1679.33 points [1] - Key stocks such as Sungrow Power, Tigermed, and Kangtai Biological performed strongly, with Sungrow Power leading with a 12.50% increase [1] - Year-to-date, notable performers include Xinlitai with a 47.42% increase, WuXi AppTec with a 43.21% rise, and Anji Technology up by 38.52% [2] Group 2 - The market sentiment is shifting towards a bullish outlook, with institutions optimistic about future performance due to a lack of systemic risks and positive reactions to favorable information [2] - Key sectors of interest include computing power chains, new consumption, and innovative pharmaceuticals, with high-dividend assets expected to attract institutional investment [2] - The ongoing revaluation of Chinese assets is supported by continuous breakthroughs in domestic technology innovation and favorable policies, which are expected to enhance supply-demand dynamics in the domestic market [3]

Group 1: ETF Performance and Liquidity - The biopharmaceutical vaccine ETF has a turnover rate of 1.9% during trading, with a transaction volume of 4.8922 million yuan [3] - Over the past two weeks, the biopharmaceutical vaccine ETF has seen a scale increase of 8.7844 million yuan, ranking first among comparable funds [3] - As of July 10, the biopharmaceutical vaccine ETF has achieved a net value increase of 22.89% over the past year [3] - The ETF's highest monthly return since inception is 26.27%, with the longest consecutive monthly gain being 3 months and the longest gain percentage being 14.87% [3] - The average return during the months of increase is 6.41% [3] Group 2: Index Valuation and Composition - The index tracked by the ETF, the CSI Vaccine and Biotechnology Index, is currently valued at a historical low, with a price-to-book ratio (PB) of 2.6 times, which is lower than 88.03% of the time over the past three years, indicating strong valuation attractiveness [3] - The CSI Vaccine and Biotechnology Index includes no more than 50 companies involved in vaccine research, production, and related biotechnology sectors, reflecting the overall performance of listed companies in this theme [3] Group 3: Major Stocks and Market Trends - As of June 30, 2025, the top ten weighted stocks in the CSI Vaccine and Biotechnology Index include Zhifei Biological Products, Wantai Biological Pharmacy, Watson Bio, and others, collectively accounting for 48.14% of the index [4] - The top weighted stocks and their respective weights are: Zhifei Biological (10.06%), Wantai Biological (8.43%), Watson Bio (6.19%), and others [6] - On July 8, the National Healthcare Security Administration and the National Health Commission released measures to support the high-quality development of innovative drugs, proposing 16 supportive policies [6] Group 4: International Market Opportunities - Institutions are focusing on the opportunities for Chinese vaccines in international markets under the "World Shared Market" concept, particularly in Belt and Road countries [7] - Chinese vaccines are expected to leverage cost advantages to expand into the pharmaceutical markets of Belt and Road countries, especially in light of supply chain risks faced by non-U.S. countries [7] - The vaccine market is sensitive to population variables, and Chinese companies have established production capacity and distribution channels in Belt and Road countries, laying a solid foundation for international expansion [7]