Core Viewpoint - Zhenghai Biological (300653) has reported that it is actively participating in volume-based procurement for its meninges products across multiple provinces, indicating a strategic response to market changes and regulatory developments [1] Group 1: Company Developments - As of now, six provincial and two inter-provincial alliances have initiated volume-based procurement for meninges products, covering a total of 24 provinces (autonomous regions and corps) [1] - The company has successfully won bids for its meninges series in all provinces where centralized procurement has been implemented, leading to a stable market share despite price reductions [1] Group 2: Market Impact - The centralized procurement has resulted in a decrease in the selling price of the company's meninges products, which has correspondingly increased sales volume [1] - The company is preparing for upcoming volume-based procurement projects, particularly in response to a notification from Tianjin regarding the maintenance of medical consumables information for hard brain (spinal) membrane patches [1]

Core Viewpoint - Zhenghai Biological (300653) announced on September 17 that its human umbilical cord mesenchymal stem cell project is currently in the product process validation stage, which will enhance the company's product layout in the field of intrauterine soft tissue repair and enrich its reserves in regenerative medicine [1] Group 1 - The company is in the research and development phase of its human umbilical cord mesenchymal stem cell project [1] - The project aims to supplement the company's product offerings in the intrauterine soft tissue repair sector [1] - The company will strictly fulfill its information disclosure obligations as the project progresses and achieves relevant milestone advancements [1]

证券日报网讯正海生物（300653）9月17日发布公告，在公司回答调研者提问时表示，活性生物骨是国 内首个含与胶原特异结合的rhBMP-2的骨填充产品，具有很高的创新性。目前，骨形态发生蛋白(BMP) 类产品在骨修复材料领域的市场份额相对较小，仍具备较大的增长潜力。在骨形态发生蛋白类产品的细 分赛道内，公司活性生物骨将凭借该产品特性等优势，不断提升产品市占率，逐步实现产品销售收入的 增长。今年以来，活性生物骨的推广入院工作有序开展，整体入院节奏符合预期，公司将不断强化销售 团队的专业推广能力，加速市场开拓。 ...

内容概要：人工硬脑膜是用生物材料制成人体脑膜的替代物，用于因颅脑、脊髓损伤、肿瘤及其他颅脑 疾病引起的硬脑膜或脊膜缺损的修补，防止脑脊液外漏、颅内感染、脑膨出、脑粘连和疤痕等严重并发 症，以恢复其完整性。人工硬脑膜属于植介入耗材，伴随着国民可支配收入增加、老龄化程度加深，脑 血管疾病发病率上升，神经外科介入类手术需求增加，推动人工硬脑膜的需求放量增长。但2021年以来 随着集采的稳步推进，国内人工硬脑膜产品价格下降较为明显。2024年，我国人工硬脑膜需求量从2017 年的44.63万片增长至94.61万片，产品价格从2017年的1775元/片下降至800元/片，人工硬脑膜市场规模 则从2020年的10.26亿元下降至2024年的7.57亿元。 关键词：人工硬脑膜行业政策、人工硬脑膜产业链、人工硬脑膜需求量、人工硬脑膜行业均价、人工硬 脑膜市场规模、人工硬脑膜市场竞争格局、人工硬脑膜行业发展趋势 一、人工硬脑膜行业基本概况 神经外科作为医学领域最为复杂的学科之一，是以手术为主要手段，医治中枢神经系统（脑、脊髓）、 周围神经系统和植物神经系统疾病的一门临床外科专科。作为高精尖的前沿学科之一，神经外科对应用 在手术 ...

Group 1: Market Outlook and Product Development - The active biological bone product is the first domestic bone filling product containing rhBMP-2, indicating high innovation potential. The market share for BMP products in bone repair materials is currently small but has significant growth potential [3]. - The company is enhancing its sales team's professional promotion capabilities to accelerate market expansion for the active biological bone product, with promotional activities progressing as expected this year [3]. Group 2: Oral Implant Industry and Competitive Landscape - Short-term demand for oral implants is relatively flat; however, long-term growth is expected due to factors like aging population and cost reductions from centralized procurement policies, which will increase implant penetration [3]. - The company aims to solidify its position in the oral repair membrane market by deepening cooperation with key terminals and stabilizing market share despite increasing competition and price wars [4]. Group 3: Procurement Projects and Market Share - As of now, 6 provincial and 2 inter-provincial alliances have initiated bulk procurement for the company's membrane products, covering a total of 24 provinces. The company has successfully bid in all provinces where procurement has occurred [4]. - Although bulk procurement has led to a decrease in membrane prices, it has also resulted in increased sales volume, maintaining stable market share [4]. Group 4: Stem Cell Project and Future Plans - The company is in the product process verification stage for its umbilical cord mesenchymal stem cell project, which will enhance its product offerings in the field of soft tissue repair and regenerative medicine [4]. - The company is actively planning to expand some products into overseas markets, aiming to achieve overseas revenue growth [5].

Market Overview - The Shanghai Composite Index closed at 3870.60 points, slightly above the six-month moving average, with a change of -0.12% [1] - The total trading volume of A-shares reached 25,483.12 billion yuan [1] Stocks Breaking the Six-Month Line - A total of 50 A-shares have surpassed the six-month moving average today, with notable stocks including Shanghai Construction, Yihualu, and Runjian Shares, showing divergence rates of 9.89%, 9.08%, and 9.07% respectively [1] - Stocks with smaller divergence rates that just crossed the six-month line include Zhuhai Port, Zhongzhou Special Materials, and Nanjing Chemical Fiber [1] Top Performers - Shanghai Construction (600170) saw a price increase of 9.96% with a turnover rate of 6.20% and a divergence rate of 9.89% [1] - Yihualu (300212) increased by 10.90% with a turnover rate of 12.71% and a divergence rate of 9.08% [1] - Runjian Shares (002929) rose by 9.99% with a turnover rate of 10.76% and a divergence rate of 9.07% [1] Additional Notable Stocks - Other significant gainers include Huafu Times (600169) with a 10.08% increase and a divergence rate of 7.82%, and Shang (002042) with a 10.06% increase and a divergence rate of 7.70% [1] - The stock of Fule New Materials (605488) rose by 10.01% with a divergence rate of 6.93% [1] Stocks with Lower Divergence Rates - Stocks like Zhonghuan Hailu (301040) and Baitong Energy (001376) showed increases of 1.91% and 1.55% respectively, with divergence rates of 1.09% and 1.00% [2] - Longyuan Construction (600491) increased by 1.91% with a divergence rate of 0.97% [2]

Core Viewpoint - Zhenghai Biological experienced a stock price increase of 2.18% on September 12, reaching 21.10 CNY per share, with a total market capitalization of 3.798 billion CNY [1] Financial Performance - For the first half of 2025, Zhenghai Biological reported operating revenue of 188 million CNY, a year-on-year decrease of 5.14%, and a net profit attributable to shareholders of 46.49 million CNY, down 45.97% year-on-year [2] - Cumulative cash dividends since the A-share listing amount to 617 million CNY, with 334 million CNY distributed over the past three years [3] Shareholder Information - As of June 30, 2025, the number of shareholders for Zhenghai Biological was 16,800, a decrease of 0.89% from the previous period, with an average of 10,704 circulating shares per shareholder, an increase of 0.90% [2] - The top ten circulating shareholders include notable funds such as Dongfanghong New Power Mixed A and Dongfanghong JD Big Data Mixed A, with changes in their holdings noted [3] Stock Performance - Year-to-date, Zhenghai Biological's stock price has increased by 1.22%, with a 3.58% rise over the last five trading days, a 4.70% decline over the last 20 days, and an 8.59% increase over the last 60 days [1]

（文章来源：每日经济新闻） 正海生物（300653.SZ）9月10日在投资者互动平台表示，活性生物骨用于填充由于创伤或手术造成的、 不影响骨结构稳定性的骨缺损。 每经AI快讯，有投资者在投资者互动平台提问：公司的产品海昱®活性生物骨对股骨头坏死有没有作 用？ ...

Core Viewpoint - The company is actively promoting its active biological bone products, with a focus on expanding market coverage and enhancing sales team capabilities [1] Group 1: Company Developments - The promotion and hospital entry of active biological bones are progressing smoothly and in line with expectations [1] - The company is strengthening the professional promotion capabilities of its sales team to further expand the hospital entry range and increase stable supply [1] - Current sales entry of active biological bones has not been affected by centralized procurement policies, although future impacts remain uncertain [1] Group 2: Market Outlook - The company will closely monitor centralized procurement policies and industry dynamics to adapt to potential market changes [1]

证券日报网讯 正海生物9月9日发布公告，在公司回答调研者提问时表示，宫腔修复膜产品临床主要用 于子宫内膜修复领域，产品目前已开展注册相关工作，未来将拓展公司软组织修复材料系列产品的临床 适用领域，丰富了公司再生修复系列产品梯队，为公司寻求新的业务增长点提供了重要支撑。 （编辑 袁冠琳） ...