Group 1 - The company Kanglong Chemical announced that its actual controller, Lou Xiaoqiang, pledged 5,220,000 shares, accounting for 8.62% of his holdings [1] - The company's concerted action parties, Longtai Kang and Beihai Duotai, collectively released the pledge of 6,930,000 shares and extended the pledge of 15,970,000 shares until December 25, 2026 [1]

香港交易及結算所有限公司、香港聯合交易所有限公司（「聯交所」）及香港中央結算有限公司 （「香港結算」）對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表 示概不就因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。 Pharmaron Beijing Co., Ltd. 康 龍 化 成（ 北 京 ）新 藥 技 術 股 份 有 限 公 司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：3759） 海外監管公告 本公告乃康龍化成（北京）新藥技術股份有限公司（「本公司」）根據香港聯合交易所 有限公司證券上市規則第13.10B條作出。 茲載列本公司於深圳證券交易所網站刊登公告如下，僅供參閱。 承董事會命 康龍化成（北京）新藥技術股份有限公司 主席 樓柏良博士 中華人民共和國，北京 2025年12月24日 於本公告日期，董事會包括執行董事樓柏良博士、樓小強先生及鄭北女士；職工 代表董事李承宗先生；非執行董事李家慶先生及萬璇女士；獨立非執行董事李麗 華女士、曾勁峰教授及余堅先生。 证券代码：300759 证券简称：康龙化成 公告编号：2025-071 关于公司实际控 ...

Group 1 - The core point of the news is that Kanglong Chemical conducted a block trade on December 24, with a transaction volume of 1.38 million shares and a transaction amount of 39.5363 million yuan, at a price of 28.65 yuan, which is a 0.90% discount compared to the closing price of the day [2][3] - In the last three months, Kanglong Chemical has recorded a total of 9 block trades, with a cumulative transaction amount of 266 million yuan [2] - The closing price of Kanglong Chemical on the day of the report was 28.91 yuan, reflecting a 0.35% increase, with a daily turnover rate of 0.95% and a total transaction amount of 391 million yuan, alongside a net inflow of main funds amounting to 6.1722 million yuan [2][3] Group 2 - The latest margin financing balance for Kanglong Chemical is 1.111 billion yuan, which has increased by 14.5693 million yuan over the past five days, representing a growth rate of 1.33% [3] - Kanglong Chemical (Beijing) New Drug Technology Co., Ltd. was established on July 1, 2004, with a registered capital of 1.778195525 billion yuan [3]

证券代码：300759 证券简称：康龙化成 公告编号：2025-072 2、股东减持股份情况 股东名称 减持方式 减持期间 减持均价（元 /股） 减持价格区 间（元/股） 减持股数 （股） 减持比例 （%） 康龙化成（北京）新药技术股份有限公司 关于持股 5%以上股东减持计划实施完成的公告 公司持股 5%以上股东深圳市信中康成投资合伙企业（有限合伙）及其一致行 动人深圳市信中龙成投资合伙企业（有限合伙）保证向本公司提供的信息内容真 实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本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。 康龙化成（北京）新药技术股份有限公司（以下简称"公司"）于 2025 年 11 月 14 日在巨潮资讯网（www.cninfo.com.cn）披露了《关于持股 5%以上股东 减持股份的预披露公告》（公告编号：2025-064）。公司持股 5%以上股东深圳 市信中康成投资合伙企业（有限合伙）（以下简称"信中康成"）计划自该公告 披露之日起 15 个交易日后（2025 年 12 月 8 日）的 3 个月内以集中竞价、大宗 交易等深圳证券交易所认可的合法方式减持公司股 ...

证券代码：300759 证券简称：康龙化成 公告编号：2025-071 康龙化成（北京）新药技术股份有限公司 2、本次股份解除质押基本情况 | 股 东 | 是否为控 股股东或 | 质押数量 | 占其所 | 占公司 | 是否 | 是否 为补 | 质押起 | 原质押 | 延期购 | 质权 | 质押用 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名 称 | 第一大股 东及其一 | （股） | 持股份 比例 | 总股本 比例 | 为限 售股 | 充质 押 | 始日 | 到期日 | 回后质 押到期 日 | 人 | 途 | | | 致行动人 | | | | | | | | | | | | 龙 泰 | 实际控制 人的一致 | 4,580,000 | 11.41% | 0.26% | 否 | 否 | 年 2024 月 12 25 日 | 年 2025 月 12 25 日 | 2026 年 12 月 25 日 | 中信 证券 股份 | 置换存 量金融 机构融 | | 康 | 行动人 | 8,200,000 | 20. ...

Group 1 - The core transaction on December 23 involved a block trade of 1.5 million shares of Kanglong Chemical, with a transaction value of 42.825 million yuan, at a price of 28.55 yuan, reflecting a discount of 0.90% compared to the closing price of the day [1][3] - In the last three months, Kanglong Chemical has recorded a total of 8 block trades, amounting to 226 million yuan [2] - The closing price of Kanglong Chemical on the day of the transaction was 28.81 yuan, with a daily turnover rate of 0.96% and a total trading volume of 394 million yuan, indicating a net outflow of 28.5335 million yuan in main funds for the day [2] Group 2 - The latest margin financing balance for Kanglong Chemical is 1.118 billion yuan, with an increase of 16.7614 million yuan over the past five days, representing a growth rate of 1.52% [3] - Kanglong Chemical (Beijing) New Drug Technology Co., Ltd. was established on July 1, 2004, with a registered capital of 1.778 billion yuan [3]

两融数据显示，该股最新融资余额为10.93亿元，近5日增加2938.29万元，增幅为2.76%。 据天眼查APP显示，康龙化成(北京)新药技术股份有限公司成立于2004年07月01日，注册资本 177819.5525万人民币。（数据宝） 康龙化成12月22日大宗交易平台出现一笔成交，成交量150.00万股，成交金额4312.50万元，大宗交易成 交价为28.75元，相对今日收盘价折价0.90%。该笔交易的买方营业部为机构专用，卖方营业部为中信证 券华南股份有限公司广州万博证券营业部。 进一步统计，近3个月内该股累计发生7笔大宗交易，合计成交金额为1.83亿元。 证券时报·数据宝统计显示，康龙化成今日收盘价为29.01元，下跌1.46%，日换手率为1.43%，成交额为 5.92亿元，全天主力资金净流入975.79万元，近5日该股累计上涨0.55%，近5日资金合计净流入95.00万 元。 12月22日康龙化成大宗交易一览 | 成交量 | 成交金额 | 成交价格 | 相对当日收盘折溢 | 买方营 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | | （万股） | （万元 ...

| 权益类证券大宗交易(协议交易) | | | | | | | 团 下载 | | --- | --- | --- | --- | --- | --- | --- | --- | | 交易日期 | 证券代码 | 证券简称 | 成交价格 (元) | 成交量 (万股/万份) | 成交金额 (万元) | 买方营业部 | 卖方营业部 | | 2025-12-22 | 300759 | 康龙化成 | 28.75 | 150.00 | 4,312.凯构专用 | | 中信证券华南股份 | | | | | | | | | 有限公司广州万博 | | | | | | | | | 证券营业部 | 12月22日，康龙化成大宗交易成交150万股，成交额4312.5万元，占当日总成交额的6.79%，成交价 28.75元，较市场收盘价29.01元折价0.9%。 ...

Group 1 - CRO concept stocks are under pressure, with notable declines in share prices: Kanglong Chemical down 4.32% to HKD 21.24, Zhaoyan New Drug down 3.29% to HKD 21.16, Kelaiying down 2.31% to HKD 78.15, and Weiya Bio down 1.98% to HKD 1.98 [1] - The revised U.S. Biodefense Law was passed in the Senate with a vote of 77 in favor and 20 against, completing the main legislative process and is set to be signed by the President [1] - According to Xinda Securities, the Biodefense Law has been a significant factor suppressing the valuation of the CXO sector over the past two years, but the final version is relatively mild compared to the initial draft, as it does not name specific companies [1] Group 2 - With the Federal Reserve entering a rate-cutting phase, global biopharmaceutical investment and financing are expected to improve marginally [1] - The implementation of the Biodefense Law is anticipated to lead to a dual recovery in performance and valuation for the CXO sector [1]

Investment Rating - The industry investment rating is "Overweight" [1] Core Views - The biopharmaceutical investment and financing environment has shown significant recovery since the second half of 2025, with a total financing amount of USD 30.32 billion from July to November 2025, representing a year-on-year increase of 30.90% [4] - The number of new drug IND applications stabilized in 2025, with approximately 1,897 applications from January to November, reflecting a year-on-year growth of about 7.91% [4] - The demand for CRO services has shown a clear turning point, and the report continues to recommend opportunities in the innovative drug industry chain (CXO + research services) for 2026 [4] Summary by Sections Industry Performance - The biopharmaceutical sector experienced a decline of 0.14% in the third week of December 2025, outperforming the CSI 300 index by 0.14 percentage points, ranking 22nd among 31 sub-industries [7][14] - The offline pharmacy sector saw the highest increase, rising by 5.59%, while the chemical preparation sector had the largest decline at 2.1% [18][22] Investment Opportunities - The report highlights the strong performance of leading CXO and research service companies, with many exceeding earnings expectations. Companies like WuXi AppTec and Tigermed have raised their earnings guidance for 2025 [5] - The report recommends a valuation switch opportunity for leading CXO and research service companies, given the continuous improvement in demand [5] Clinical Research Organizations (CRO) - There has been a notable improvement in orders for preclinical and clinical CROs, with expectations for significant improvements in financial statements for 2026 [6] - The report anticipates that the market demand will continue to focus on leading companies as the capacity of clinical CROs is expected to be streamlined [6] Monthly and Weekly Recommendations - The report recommends a monthly investment portfolio including companies such as Sanofi, Innovent Biologics, and others, focusing on innovative drug opportunities and valuation switch [8]