一品红：AR882目前尚未实现上市销售 未产生销售收入 智通财经4月14日电，一品红(300723.SZ)发布异动，公司合作在研创新药AR882尚需在国内外开展Ⅲ期 临床研究并经药品审评部门审批通过后，方可上市销售，能否通过监管部门的最终批准、获批上市及上 市时间具有不确定性。AR882目前尚未实现上市销售，未产生销售收入，对公司近期业绩不会产生重大 影响。敬请广大投资者理性投资，注意风险。 ...

证券代码：300723 证券简称：一品红 公告编号：2025-016 一品红药业集团股份有限公司 关于 2025 年股票期权激励计划授予登记完成的公告 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。 重要内容提示： 根据中国证券监督管理委员会《上市公司股权激励管理办法》、深圳证券 交易所、中国证券登记结算有限责任公司深圳分公司等有关规则的规定，经深 圳证券交易所、中国证券登记结算有限责任公司深圳分公司审核确认，一品红 药业集团股份有限公司（以下简称"公司"）完成了2025年股票期权激励计划 （以下简称"本激励计划"）授予股票期权的登记工作，具体内容如下： 一、本激励计划已履行的相关审批程序 1、2025年2月7日，公司召开第四届董事会第六次会议，会议审议通过《关 于〈公司2025年股票期权激励计划（草案）〉及其摘要的议案》《关于〈公司 2025年股票期权激励计划实施考核管理办法〉的议案》以及《关于提请公司股 东大会授权董事会办理2025年股票期权激励计划有关事宜的议案》。 同日，公司召开第四届监事会第六次会议，会议审议通过了《关于〈公司 2025年股票期权激励 ...

Investment Rating - The industry investment rating is "Outperform the Market" [52] Core Views - The report emphasizes the ongoing disruptions caused by the US-China tariff policies and suggests focusing on opportunities in non-US markets and import substitution [4][9] - The report highlights that the adjustment of tariffs is expected to impact the trade of pharmaceutical products between China and the US, while companies primarily exporting to markets outside the US will be less affected [4][9] Summary by Sections Tariff Policy Overview - Since April 2, 2025, the US government has imposed a 34% "reciprocal tariff" on Chinese goods, with frequent adjustments to tariff rates and exemptions for certain pharmaceutical products [4][5] - As of April 11, 2025, the tariff rates for bilateral trade between China and the US have been adjusted to 125%, with China indicating it will not respond to further tariff increases from the US [5] Opportunities in the Biopharmaceutical Sector - The report identifies potential for domestic products to increase market share in the blood products sector due to tariff impacts, particularly for albumin, where US imports are significant [9] - It suggests monitoring companies such as Palin Bio, Tiantan Bio, and Huashan Bio for potential growth in market share as import costs rise [9] Medical Devices - The report notes that the tariff policies and anti-dumping investigations are likely to accelerate the domestic substitution process in medical devices, particularly in electrophysiology and imaging fields [10] - Companies like Yirui Technology and United Imaging are highlighted as making progress in domestic production capabilities [10] Investment Strategies - The report recommends focusing on "innovation," "overseas expansion," "equipment upgrades," and "consumption recovery" as key investment themes [12] - Specific companies to watch include BeiGene, Mindray, and Xiamen Innovax for their innovative products and overseas market potential [12] Key Companies to Watch - Notable companies include: - **Nocera Biopharma**: Expected to achieve significant revenue growth with its core product, demonstrating strong cash flow and reduced losses [13][14] - **Sino Biopharmaceutical**: Rapid revenue growth with a focus on innovative products and a strong pipeline [18] - **Kexing Biopharma**: Stable domestic business with promising overseas expansion [18] - **Wuxi Biologics**: Recognized for its strong technical capabilities and expanding overseas operations [22] Market Performance - The report notes a decline in the pharmaceutical sector, with a 5.61% drop in the past week, while the overall market saw a smaller decline [31][42] - The biopharmaceutical sector is highlighted as having the smallest decline among sub-sectors, indicating relative resilience [44]

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Investment Rating - The report maintains a "Hold" rating for the healthcare sector [8] Core Viewpoints - The pharmaceutical sector slightly underperformed the CSI 300 index, with a decline of 5.61% from April 7 to April 11, 2025, ranking 22nd among 31 sectors [3][13] - Year-to-date, the pharmaceutical index has decreased by 1.10%, outperforming the CSI 300 index by 3.59 percentage points, ranking 13th among 31 sectors [15] - As of April 11, 2025, the valuation of the pharmaceutical sector stands at 25.91 times (TTM overall method, excluding negative values), with a premium of 141.73% compared to the CSI 300 index [18] Summary by Sections 1. Market Performance Review - The pharmaceutical sector's performance from April 7 to April 11, 2025, shows a decline of 5.61%, underperforming the CSI 300 index by 2.74 percentage points [3][13] - The valuation level of the pharmaceutical sector is reported at 25.91 times, with a significant premium over the CSI 300 index [18] - Top-performing stocks include Yirui Technology (+20.54%), Yipinhong (+17.03%), and Yong'an Pharmaceutical (+13.93%) [19][20] 2. Important Policies and Events - On April 7, 2025, the Ministry of Commerce and the National Health Commission, along with 12 other departments, issued the "Special Action Plan for Promoting Healthy Consumption" to enhance the quality of health goods and services [5][22] 3. Important Company Announcements - Haizike reported a revenue of 3.721 billion yuan for 2024, a year-on-year increase of 10.92%, with a net profit of 395 million yuan, up 34.00% [23] - Kexing Pharmaceutical announced a revenue of 1.407 billion yuan for 2024, with a net profit of 31 million yuan, marking a return to profitability [23] 4. Industry Perspectives - The report discusses the impact of the ongoing trade war, noting that while pharmaceuticals were initially included in tariff discussions, they were later excluded from the "reciprocal tariffs" announced by the U.S. government [6][25] - The report highlights that increased tariffs on imports from the U.S. could benefit domestic substitutes in the blood products, high-end medical devices, and innovative drug sectors [6][26]

医药生物/化学制药 2025 年 04 月 12 日 投资评级：买入（首次） | 日期 | 2025/4/11 | | --- | --- | | 当前股价(元) | 35.18 | | 一年最高最低(元) | 35.18/12.74 | | 总市值(亿元) | 158.91 | | 流通市值(亿元) | 148.75 | | 总股本(亿股) | 4.52 | | 流通股本(亿股) | 4.23 | | 近 3 个月换手率(%) | 132.3 | 股价走势图 数据来源：聚源 -60% -30% 0% 30% 60% 90% 2024-04 2024-08 2024-12 一品红 沪深300 儿童药、慢病药多点开花，痛风新药贡献新增量 ——公司首次覆盖报告 | 余汝意（分析师） | 刘艺（联系人） | | --- | --- | | yuruyi@kysec.cn | liuyi1@kysec.cn | | 证书编号：S0790523070002 | 证书编号：S0790124070022 | 特色儿童药、慢病药主导，痛风创新药有望贡献新增量 公司创建于 2002 年，主要聚焦于儿童药、慢病药领域，目前已是集 ...

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [6]. Core Viewpoints - The company's main business is expected to stabilize and recover, with significant potential for the gout drug AR882, which is currently leading in global development and may become a market leader due to its clinical efficacy [4][8]. - The company has faced performance pressures since 2022 due to industry procurement disruptions and changes in the market environment, but these impacts are expected to diminish, leading to a recovery in its core business [8][10]. - The global gout market remains largely untapped, with a significant patient base and existing treatment gaps, indicating a promising market potential for AR882 [39][40]. Summary by Sections 1. Core Business Recovery and Innovation - The company focuses on pediatric and chronic disease sectors, demonstrating stable long-term operations [13]. - Short-term operations have been affected by external factors, but the introduction of stock incentives is expected to bolster confidence in the core business [21][26]. - Continuous increases in R&D investment are aimed at bringing the innovative gout drug AR882 to market [34][38]. 2. Gout Market Potential - There is a large patient base for gout, with clinical treatment gaps that innovative drugs can address [39]. - The existing treatments for gout have notable clinical deficiencies, creating opportunities for new entrants like AR882 [40][41]. - The company’s U.S. subsidiary, Arthrosi, has a strong management team with extensive experience in gout drug development, enhancing the prospects for AR882 [56][60]. 3. Financial Forecast and Valuation - The company is projected to have a net profit of -561 million RMB in 2024, followed by recoveries to 199 million RMB in 2025 and 261 million RMB in 2026 [5][6]. - The estimated price-to-earnings ratios for 2025 and 2026 are 80 and 61, respectively, based on the expected net profits [6].

暗盘资金正涌入这些股票，点击速看>>> 一品红（300723）今日涨停，成交额7.76亿元，换手率5.69%，盘后龙虎榜数据显示，深股通专用席位 买入5036.64万元并卖出3967.19万元，三机构专用席位净买入1.13亿元，三机构专用席位净卖出3747.69 万元。 ...

公司报告 | 首次覆盖报告 一品红（300723） 证券研究报告 创新研发聚焦痛风领域，有望迎来收获期 一品红：专注儿童药与慢病药物，研发驱动不断丰富产品矩阵 一品红是一家聚焦于儿童药、慢病药领域的创新型生物医药企业。公司着 力打造儿童药制剂创新研发平台，并建有慢病创新药技术中心、口服缓控 释制剂研究实验室和生产技术转化中心，具备创新药全流程及多种技术类 型高端口服缓控释制剂的自主研发及生产能力。公司现有 26 个儿童药注册 批件和 66 个慢病药注册批件，产品结构丰富，涵盖多个疾病治疗领域。目 前具有在研儿童专用药 25 项，在研慢病药包括全球创新药 AR882 等项目 13 个。 痛风：现有药物存在一定局限性，广阔市场需要更优药物 痛风是一种单钠尿酸盐沉积在关节所致的晶体相关性关节病，其与嘌呤代 谢紊乱和/或尿酸排泄减少所致的高尿酸血症直接相关。预计 2025 年全球 高尿酸血症患者将达到 11.8 亿，并将于 2030 年达到 14.2 亿；预计 2025 年中国高尿酸血症患者将达到 2.1 亿，并将于 2030 年达到 2.4 亿。痛风患 者基数庞大，但现有痛风治疗药物存在一定的局限性。例如传统的降尿 ...

创新药概念震荡拉升，海南海药（000566）涨停，一品红（300723）、泓博医药（301230）、科兴制 药、海正药业（600267）、中源协和（600645）等跟涨。 暗盘资金正涌入这些股票，点击速看>>> ...