Group 1: Company Performance Forecasts - Zhongshe Co., Ltd. expects a net loss of 6 to 8 million yuan for the first half of 2025, compared to a profit of 18.83 million yuan in the same period last year [1] - Jiangfeng Electronics anticipates a net profit of 247 to 267 million yuan for the first half of 2025, representing a growth of 53.29% to 65.70% year-on-year [1] - Naipu Mining forecasts a net profit of 15 to 22.5 million yuan for the first half of 2025, a decline of 73.32% to 82.21% compared to the previous year [7] - Runjian Co., Ltd. expects a net profit of 35 to 52.5 million yuan for the first half of 2025, a decrease of 78% to 85% year-on-year [13] - Kanglong Chemical predicts a net profit of 679 to 713 million yuan for the first half of 2025, down 36% to 39% from the previous year [14] Group 2: Shareholder Actions - Tianyuan Co., Ltd. plans to reduce its shareholding by up to 0.76% through a concentrated bidding process [2] - Sanwei Tiandi intends to reduce its shareholding by up to 4.07% through concentrated bidding or block trading [3] - Zhongfu Shenying plans to reduce its shareholding by up to 1% due to personal funding needs [4] - Hengfeng Information intends to reduce its shareholding by up to 3% through concentrated bidding or block trading [6] - *ST Yanzhen's stock will be suspended for inspection due to abnormal trading fluctuations [9] Group 3: Corporate Transactions - *ST Weir plans to acquire 51% of Shanghai Zijiang New Materials Technology Co., Ltd. for 546 million yuan [10] - Greenland plans to introduce overseas strategic investors for its subsidiary QINGMEI to enhance global competitiveness [12] - Taihe Co., Ltd. intends to acquire the remaining 51% stake in Guangdong Haode Crop Technology Co., Ltd. for 22.083 million yuan [13] - Weichai Heavy Machinery is planning to acquire 100% of Changzhou Fiberglass Shipyard Co., Ltd. [15] - Guolian Aquatic plans to introduce a new shareholder through capital increase for its subsidiary [16]

Group 1 - HSK47388, a self-developed oral drug by the company, has received FDA approval to initiate clinical trials for the treatment of autoimmune diseases, showing significant dose-dependent anti-inflammatory effects and good safety profile in preclinical studies [1] - The drug's large safety window provides a favorable foundation for subsequent clinical research, potentially filling existing treatment gaps for autoimmune disease patients [1] Group 2 - Kanglong Chemical's net profit for the first half of 2025 is expected to decline by 36% to 39%, reflecting short-term pressures in the CRO industry due to global biopharmaceutical investment slowdown, order delays, and rising costs [2] - Dezheng Health anticipates a net loss of approximately 25 million to 50 million yuan for the first half of the year, a significant decline from a profit of 10.15 million yuan in the same period last year, attributed to the impact of centralized procurement and high sales expenses [3] - China National Pharmaceutical's acquisition of 95.09% of Lixin Pharmaceutical is expected to enhance its innovative drug revenue share, reflecting a trend of domestic pharmaceutical companies strengthening their competitive edge through mergers and acquisitions [4] - Baicheng Pharmaceutical forecasts a net profit decline of over 95% for the first half of 2025, with government subsidies contributing significantly to its profits, indicating challenges in its core business capabilities during its strategic transformation [5]

Group 1 - The core viewpoint of the news is the performance and holdings of the China Europe Medical Health Mixed Fund C, which has shown positive growth in recent months and has a significant allocation in leading healthcare companies [1][3]. - As of July 15, 2025, the latest net value of the fund is 1.7462 yuan, reflecting a growth of 1.28%. The fund's one-month return is 2.18%, six-month return is 18.43%, and year-to-date return is 14.30% [1]. - The fund's top ten stock holdings account for a total of 55.30%, with significant investments in companies such as Heng Rui Pharmaceutical (10.60%), WuXi AppTec (9.95%), and Mindray Medical (5.21%) [1]. Group 2 - The China Europe Medical Health Mixed Fund C was established on September 29, 2016, and as of March 31, 2025, it has a total scale of 15.566 billion yuan. The fund is managed by Guo Lan and Zhao Lei [1]. - Guo Lan, the fund manager, has a background in biomedical engineering and has held various positions in research and fund management since joining China Europe Fund Management in 2014 [2]. - Zhao Lei, also a fund manager, has experience in the pharmaceutical and biotechnology sectors, having worked as a researcher and analyst before joining China Europe Fund Management in 2021 [2].

| 证券代码：300759 证券简称：康龙化成 | 公告编号：2025-038 | | --- | --- | | 康龙化成（北京）新药技术股份有限公司 | | | 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。 | | | 以下为本公司的 2025 年半年度业绩预告。本业绩预告所载之财务数据未经 | | | 审计，除经调整的非《国际财务报告准则》下归属于上市公司股东的净利润或另 | | | 有注释外，本业绩预告所载之财务数据根据中国企业会计准则编制。 | | | 一、本期业绩预计情况 | | | 预计营业收入、归属于上市公司股东的扣除非经常性损益后的净利润以及经 | | | 调整的非《国际财务报告准则》下归属于上市公司股东的净利润同向上升，预计 | | | 归属于上市公司股东的净利润同向下降。 | | | 项 目 本报告期 上年同期 | | | 营收：633,304.36 万元–650,117.75 万元 | | | 营业收入 营收：560,446.34 万元 | | | 比上年同期增长：13%–16% | | | 归属于上市公司股东 盈利：67 ...

[WuXi AppTec 2025 Half-Year Performance Forecast](index=1&type=section&id=WuXi%20AppTec%20(Beijing)%20Co.%2C%20Ltd.%202025%20Half-Year%20Performance%20Forecast) WuXi AppTec provides its preliminary financial outlook for the first half of 2025, detailing expected changes in key performance indicators [Current Period Performance Forecast](index=1&type=section&id=I.%20Current%20Period%20Performance%20Forecast) The company anticipates year-over-year growth in H1 2025 operating revenue, net profit excluding non-recurring gains/losses, and adjusted non-IFRS net profit, while net profit attributable to shareholders is expected to decline by 36%-39% due to significant non-recurring gains in the prior year Key Financial Indicators for H1 2025 Performance Forecast | Item | Current Period (2025H1) | Prior Period (2024H1) | Change | | :--- | :--- | :--- | :--- | | **Operating Revenue** | RMB 6,333.0436 million - RMB 6,501.1775 million | RMB 5,604.4634 million | Growth 13%–16% | | **Net Profit Attributable to Shareholders** | RMB 679.1758 million - RMB 712.5779 million | RMB 1,113.4030 million | Decline 36%–39% | | **Net Profit Excluding Non-Recurring Gains/Losses** | RMB 624.2831 million - RMB 647.5772 million | RMB 465.8829 million | Growth 34%–39% | | **Adjusted Non-IFRS Net Profit** | RMB 731.6822 million - RMB 766.1955 million | RMB 690.2662 million | Growth 6%–11% | | **Basic Earnings Per Share** | RMB 0.3858 - RMB 0.4048/share | RMB 0.6282/share | - | - The company estimates H1 2025 non-recurring gains/losses attributable to shareholders to be approximately **RMB 60 million to RMB 70 million**, primarily comprising government subsidies, fair value changes in financial assets, and wealth management product gains/losses[7](index=7&type=chunk) - The company uses **adjusted non-IFRS net profit** as a supplementary financial metric, excluding the impact of share-based payments, exchange gains/losses, equity investment gains/losses, convertible bond-related gains/losses, and other incidental or non-operating items, to better assess core business performance[8](index=8&type=chunk) [Communication with Accounting Firm](index=3&type=section&id=II.%20Communication%20with%20Accounting%20Firm) This performance forecast has not been audited or pre-audited by an accounting firm - This performance forecast has not been audited or pre-audited by an accounting firm[10](index=10&type=chunk) [Explanation of Performance Changes](index=3&type=section&id=III.%20Explanation%20of%20Performance%20Changes) Performance changes are primarily driven by robust core business growth and a significant year-over-year decrease in non-recurring gains/losses, impacting net profit attributable to shareholders - The company steadfastly implements its core strategy of **'full-process, integrated, internationalized, multi-therapy'**, driven by customer needs, deepening global presence, and strengthening technology platforms to achieve sustained core business growth[11](index=11&type=chunk) - Non-recurring gains/losses for the reporting period are estimated at **RMB 60 million to RMB 70 million**, a significant year-over-year decrease of approximately **RMB 580 million** compared to **RMB 647.5201 million** in the prior period (primarily from the disposal of PROTEOLOGIX, INC. equity), which is the main reason for the decline in net profit attributable to shareholders[11](index=11&type=chunk) - Despite the decline in net profit attributable to shareholders, core operating indicators show strong performance, with Q2 2025 operating revenue growing by **13.11%**, net profit excluding non-recurring gains/losses by **23.33%**, and adjusted non-IFRS net profit by **13.67%** based on the forecast median[11](index=11&type=chunk) [Other Relevant Information](index=3&type=section&id=IV.%20Other%20Relevant%20Information) The company advises investors that this performance forecast is a preliminary, unaudited estimate by the finance department, with detailed financial data to be disclosed in the 2025 half-year report on the Shenzhen and Hong Kong stock exchanges, urging caution regarding investment risks - This performance forecast data represents a preliminary, unaudited estimate by the company's finance department[13](index=13&type=chunk) - Detailed H1 2025 performance data will be disclosed in the official reports published by the company on the Shenzhen Stock Exchange and Hong Kong Stock Exchange[14](index=14&type=chunk) [Reference Documents](index=4&type=section&id=V.%20Reference%20Documents) Reference documents for this announcement include the Board of Directors' explanation regarding the performance forecast and other documents required by the Shenzhen Stock Exchange - Reference documents include: - Board of Directors' explanation regarding the current period's performance forecast - Other documents required by the Shenzhen Stock Exchange[15](index=15&type=chunk)

Investment Rating - The report upgrades Tigermed-A to Buy from Sell, with target prices increased to Rmb67/HK$73 from Rmb34/HK$37 [3][10] - WuXi AppTec and WuXi Bio are identified as top picks in the CDMO sector, expected to report beats in 1H25 [10][11] Core Insights - The CXO sector in China's healthcare is gaining attention due to improving fundamentals, attractive valuations, and growth in orders backlog [1] - WuXi AppTec is projected to beat its FY25 guidance, supported by strong growth in orders backlog and strategic disposals [2][11] - Tigermed is expected to benefit from innovative drug development and increasing out-licensing activities, leading to stronger revenue growth [3][10] Summary by Sections Top Picks in CDMO Sector - WuXi AppTec and WuXi Bio are favored for their potential to outperform in 1H25, with Tigermed-A also upgraded due to increased clinical trial activities [10] 1H25 Results Preview - WuXi AppTec's 1H25 results are expected to exceed consensus, driven by strong TIDES business and asset disposals [11] - WuXi Biologics and WuXi XDC are also anticipated to report revenue beats [11] Backlog vs. Revenue Growth - WuXi AppTec's backlog growth accelerated to 47% year-on-year in 1Q25, indicating potential revenue growth acceleration [5][48] - Tigermed's backlog grew 12% year-on-year in 2025, suggesting a positive revenue outlook [34] Global Biotech Funding - Overseas innovative drugs' primary market financing rose 28% year-on-year in 2024, with expectations for recovery in 2H25 [44] Company-Specific Insights - WuXi AppTec's management projects revenue to reach Rmb41.5-43.0 billion in 2025, with a focus on profitability improvements [47] - Tigermed is positioned as a key beneficiary of China's drug innovation, with expected revenue growth driven by clinical trial activities [3][10]

Group 1 - CRO concept stocks have surged again, with WuXi AppTec (603259) hitting the daily limit, Boten Co. (300363) reaching a 20% limit up, and Medicy exceeding a 10% increase [1] - WuXi AppTec expects its adjusted net profit for the first half of 2025 to be approximately RMB 6.315 billion, representing a year-on-year growth of about 44.43% [1] - Significant dark pool capital is flowing into these stocks, indicating increased investor interest [1]

康龙化成（300759）公告，信息披露义务人信中康成及其一致行动人信中龙成合计减持公司股份5521.3 万股，占公司总股本的3.36%。此次减持包括集中竞价交易和大宗交易两种方式，减持期间为2023年1 月10日至2025年7月9日。此次减持是由于信息披露义务人自身资金需求以及公司历次激励计划归属的限 制性股票上市、回购注销股份、权益分派等原因导致股份比例被动变动。未来12个月内，信息披露义务 人将继续减持股份并计划在未来12个月内无增持计划。 ...

证券代码：300759 证券简称：康龙化成 公告编号：2025-037 康龙化成（北京）新药技术股份有限公司 关于持股 5%以上股东权益变动 触及 1%和 5%整数倍的提示性公告 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"）于近日收到 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"）及其一致行动人深圳市信中龙成投资合伙企业（有限合伙）（以下简称 "信中龙成"）出具的《股份减持进展告知函》，获悉信中康成和信中龙成因减持、 公司总股本变动等原因导致权益变动触及 1%和 5%的整数倍。现将有关情况公 告如下： 1.基本情况 信息披露义务人 （一） 深圳市信中康成投资合伙企业（有限合伙） 住所 深圳市前海深港合作区南山街道兴海大道 3046 号香江金 融大厦 1314-B8 信息披露义务人 （二） 深圳市信 ...

康龙化成（北京）新药技术股份有限公司 简式权益变动报告书 上市公司名称：康龙化成（北京）新药技术股份有限公司 股票上市地点：深圳证券交易所（A股）、香港联合交易所（H股） 股票简称：康龙化成（A股、H股） 股票代码：300759.SZ/03759.HK 信息披露义务人（一）：深圳市信中康成投资合伙企业（有限合伙） 住所：深圳市前海深港合作区南山街道兴海大道3046号香江金融大厦1314-B8 通讯地址：北京市朝阳区京城大厦16层 信息披露义务人（二）：深圳市信中龙成投资合伙企业（有限合伙） 住所：深圳市前海深港合作区前湾一路1号A栋201室（入驻深圳市前海商务秘 书有限公司） 通讯地址：北京市朝阳区京城大厦16层 签署日期：2025年7月9日 2 1 信息披露义务人声明 一、本报告书依据《中华人民共和国证券法》《上市公司收购管理办法》 《公开发行证券的公司信息披露内容与格式准则第15号—权益变动报告书》 （以下简称"《准则15号》"）及相关的法律、法规和规范性文件编写。 二、信息披露义务人签署本报告书已获得必要的授权和批准，其履行亦不 违反信息披露义务人合伙协议或内部规则中的任何条款，或与之相冲突。 三、依据 ...