Group 1: China Petroleum & Chemical Corporation (Sinopec) - The company plans to repurchase shares worth between 500 million to 1 billion yuan using its own funds and special loans, with a maximum repurchase price of 8.72 yuan per share [1] - The estimated number of shares to be repurchased is between approximately 57.34 million to 114.68 million shares, representing 0.05% to 0.09% of the total share capital [1] - The repurchased shares will be fully canceled, reducing the registered capital, and the repurchase period will not exceed three months from the board's approval [1] Group 2: Zhenzhitong (True Vision) - The controlling shareholder plans to reduce its stake by 3%, selling 6.2928 million shares from September 15, 2025, to December 14, 2025 [3] - The company specializes in multimedia video system construction and data center system services [3] Group 3: Junya Technology - The company reported a net profit of 38.13 million yuan for the first half of 2025, recovering from a loss of 16.34 million yuan in the same period last year [4] - Revenue for the first half of 2025 reached 1.264 billion yuan, a year-on-year increase of 13.54% [4] - The basic earnings per share were 0.12 yuan [4] Group 4: Highling Information - The company reported a net loss of 33.07 million yuan for the first half of 2025, compared to a loss of 22.50 million yuan in the same period last year [5] - Revenue for the first half of 2025 was 95.20 million yuan, a year-on-year increase of 15.55% [5] - The basic loss per share was 0.26 yuan [5] Group 5: Laisentongling - The company achieved a net profit of 60.61 million yuan in the first half of 2025, turning around from a loss in the previous year [6] - Revenue increased by 37.00% year-on-year, reaching 870 million yuan [6] - The basic earnings per share were 0.18 yuan [6] Group 6: Kanglong Huacheng - The company reported a net profit of 701 million yuan for the first half of 2025, a decrease of 37% year-on-year [9] - Revenue was 6.441 billion yuan, reflecting a year-on-year growth of 14.93% [9] - The basic earnings per share were 0.3984 yuan [9] Group 7: Ganeng Co., Ltd. - The company reported a net profit of 438 million yuan for the first half of 2025, a year-on-year increase of 29.39% [10] - Revenue decreased by 1.53% to 3.031 billion yuan [10] - The basic earnings per share were 0.45 yuan [10] Group 8: Jidian Co., Ltd. - The company reported a net profit of 726 million yuan for the first half of 2025, a decrease of 33.72% year-on-year [11] - Revenue was 6.569 billion yuan, down 4.63% from the previous year [11] - The company plans to distribute a cash dividend of 0.20 yuan per 10 shares [11] Group 9: Yunmei Energy - The company reported a net loss of 163 million yuan for the first half of 2025, compared to a loss of 233 million yuan in the same period last year [13] - Revenue was 2.568 billion yuan, a year-on-year decrease of 28.14% [13] - The basic loss per share was 0.15 yuan [13] Group 10: Yiwang Co., Ltd. - The company reported a net profit of 104 million yuan for the first half of 2025, a decrease of 8.33% year-on-year [15] - Revenue was 2.972 billion yuan, down 0.87% from the previous year [15] - The company plans to distribute a cash dividend of 0.15 yuan per 10 shares [15] Group 11: Aerospace Power - The company reported a net loss of 731 million yuan for the first half of 2025, compared to a loss of 569 million yuan in the same period last year [17] - Revenue was 328 million yuan, a year-on-year decrease of 12.88% [17] - The basic loss per share was 0.12 yuan [17] Group 12: Dongbei Group - The company reported a net profit of 682 million yuan for the first half of 2025, a decrease of 31.60% year-on-year [18] - Revenue was 3.187 billion yuan, reflecting a year-on-year increase of 4.05% [18] - The basic earnings per share were 0.1102 yuan [18] Group 13: Artis - The company reported a net profit of 731 million yuan for the first half of 2025, a decrease of 41.01% year-on-year [19] - Revenue was 21.052 billion yuan, down 4.13% from the previous year [19] - The basic earnings per share were 0.20 yuan [19] Group 14: Taihe Intelligent - The company reported a net profit of 10.58 million yuan for the first half of 2025, a year-on-year increase of 61.24% [20] - Revenue was 249 million yuan, reflecting a year-on-year growth of 10.92% [20] - The basic earnings per share were 0.06 yuan [20] Group 15: Fusa Technology - The company reported a net profit of 63.30 million yuan for the first half of 2025, a year-on-year increase of 36.40% [21] - Revenue was 820 million yuan, reflecting a year-on-year growth of 35.41% [21] - The company plans to distribute a cash dividend of 1.20 yuan per 10 shares [21] Group 16: iFlytek - The company reported a net loss of 239 million yuan for the first half of 2025, compared to a loss of 401 million yuan in the same period last year [22] - Revenue was 10.911 billion yuan, a year-on-year increase of 17.01% [22] - The basic loss per share was 0.1034 yuan [22] Group 17: Guomai Technology - The company reported a net profit of 151 million yuan for the first half of 2025, a year-on-year increase of 94.39% [22] - Revenue was 250 million yuan, reflecting a year-on-year growth of 11.78% [22] - The company plans to distribute a cash dividend of 0.40 yuan per 10 shares [22] Group 18: EVE Energy - The company reported a net profit of 1.605 billion yuan for the first half of 2025, a year-on-year decrease of 24.90% [23] - Revenue was 28.169 billion yuan, reflecting a year-on-year growth of 30.06% [23] - The company plans to distribute a cash dividend of 2.45 yuan per 10 shares [23] Group 19: Guomai Technology (Share Buyback) - The company plans to sell all repurchased shares totaling 15.5367 million shares, representing 1.54% of the total share capital [23] - The purpose of the sale is to concentrate resources on developing the main business and promoting mergers and acquisitions [23] Group 20: EVE Energy (Equity Transfer) - The company plans to transfer 49% of its stake in Qinghai Chaidamu Xinghua Lithium Salt Co., Ltd. for 600 million yuan [23] - After the transfer, the company will no longer hold any equity in Xinghua Lithium Salt [23] Group 21: Yongtaiyun - The company has received acceptance from the Shenzhen Stock Exchange for its application to issue shares to specific objects [24] - The application is subject to review and approval by the China Securities Regulatory Commission [24]

8月22日，康龙化成发布2025年中报，康龙化成是医药生物行业中的代表性企业，其主营业务包含为全球制药企业、生物科技研发公司及科研院所提供跨越 药物发现、药物开发两个阶段的全流程一体化药物研究、开发及生产CRMO解决方案。截至8月21日，康龙化成股价报收于30.01元，总市值达到533.64亿 元。 在2025年上半年，康龙化成的经营业绩呈现营收增长但净利润下滑的态势，实现营业收入64.41亿元，同比增长14.93%，但归母净利润7.01亿元，同比下滑 37.0%。 从反映盈利质量的指标来看，康龙化成的净利率由2024年上半年的19.32%下滑至10.13%，下降了9.19个百分点，而毛利率从33.39%提升至33.97%，净资产 收益率为4.97%，同比下降了3.57个百分点。 从机构持股情况来看，截至2025年上半年，持有康龙化成股票的机构家数达到34家，相比2024年同期的349家减少了315家，表明机构投资者对公司的信心减 弱。 值得一提的是，康龙化成市值最高时出现在2021年8月5日，总市值达到1943.07亿元。而当前市值为533.64亿元，若要达到历史最高市值，股价需上涨 264.12%。不过， ...

Investment Rating - The investment rating for the company is "Buy" for both A and H shares [7]. Core Views - The company's performance in the first half of 2025 met expectations, with revenue of 6.441 billion yuan (up 14.9% year-on-year) and adjusted non-IFRS net profit of 756 million yuan (up 9.5% year-on-year) [1]. - The overall growth momentum remains strong, supported by a continuous increase in customer inquiries and new order amounts, which grew by over 10% year-on-year in the first half of 2025 [1]. - The report anticipates a favorable development for the company in 2025, driven by a recovering industry demand and the solid capabilities of its laboratory services [1]. Summary by Sections Financial Performance - In the first half of 2025, the company's gross margin was 34.0% (up 0.6 percentage points year-on-year), with significant contributions from core businesses such as laboratory services and CMC [2]. - The operating cash flow for the first half of 2025 was 1.408 billion yuan (up 28.1% year-on-year), indicating a positive trend in cash flow [2]. Laboratory Services - Revenue from the laboratory services segment in the first half of 2025 was 3.892 billion yuan (up 15.5% year-on-year), with biological sciences accounting for over 55% of the segment's revenue [3]. - The segment participated in 795 drug discovery projects (up 19.4% year-on-year) and saw new order amounts increase by over 10% [3]. - The company is enhancing its core business capabilities and applying AI technology, with the second Beijing park gradually coming into operation in the first half of 2025 [3]. Other Businesses - CMC business revenue in the first half of 2025 was 1.390 billion yuan (up 18.2% year-on-year), with a gross margin of 30.5% (up 2.2 percentage points) [4]. - The clinical CRO segment generated revenue of 939 million yuan (up 11.4% year-on-year), with a quarter-on-quarter increase of 10.0% in the second quarter of 2025 [4]. - The large molecule and CGT segment reported revenue of 211 million yuan (up 0.1% year-on-year), with a quarter-on-quarter increase of 14.3% in the second quarter of 2025 [4]. Profit Forecast and Valuation - The profit forecast remains unchanged, with expected net profits for 2025-2027 at 1.728 billion, 2.103 billion, and 2.507 billion yuan respectively [5]. - The company is assigned a target price of 39.83 yuan for A shares and 28.54 HKD for H shares, reflecting a PE ratio of 41x for A shares and 27x for H shares in 2025 [5].

导读：智通财经8月22日投资避雷针，近日，A股及海外市场潜在风险事件如下。国内经济信息方面包括：1）中指研究院发文称，20家出险房企化债总规模 超12000亿元；2）截至8月13日，猪粮比价为5.94，较8月6日下跌1.33%；公司方面重点关注包括：1）14天8板吉视传媒上半年净亏损2.32亿元；2）达梦数 据三天内公司两位董事先后被立案调查；海外市场重点关注包括：1）美股三大指数均小幅收跌，标普500指数连跌五天；2）美国司法部计划对美联储理事 库克展开调查。 3、据国际铜业研究小组，2025年6月全球精炼铜市场出现3.6万吨的供应过剩。 1、14天8板吉视传媒：上半年净亏损2.32亿元。 2、达梦数据：三天内公司两位董事先后被立案调查。 3、中银证券：江西铜业拟减持公司不超3%股份。 4、博济医药：控股股东王廷春及其一致行动人拟减持不超过3.00%公司股份。 5、真视通：股东计划减持不超过3%公司股份。 6、国脉科技：拟出售已回购的1.54%公司股份。 7、吉比特：副董事长陈拓琳拟减持不超过0.3470%公司股份。 8、鸿特科技：股东吴晓敏计划减持不超过1%的公司股份。 9、同飞股份：股东众和盈计划减持不 ...

格隆汇8月21日丨康龙化成(300759.SZ)公布2025年半年度报告，上半年公司实现营业收入64.41亿元，同 比增长14.93%；归属于上市公司股东的净利润7.01亿元，同比下降37.00%；归属于上市公司股东的扣除 非经常性损益的净利润6.37亿元，同比增长36.66%；基本每股收益0.3984元。 ...

Core Viewpoint - The report highlights the financial performance and operational developments of Pharmaron Beijing Co., Ltd. for the first half of 2025, showcasing growth in revenue and net profit while emphasizing the company's commitment to integrated drug research and development services across multiple therapeutic areas [1][4][21]. Financial Performance - The company reported a revenue of approximately 6.44 billion yuan, representing a 14.93% increase compared to the same period last year [3]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, was approximately 636.66 million yuan, a 36.66% increase year-on-year [3]. - The basic earnings per share decreased by 36.58% to 0.3984 yuan, reflecting the impact of previous year's investment gains [3]. Business Operations - Pharmaron operates a comprehensive drug R&D service platform with 21 R&D centers and production bases globally, focusing on accelerating drug innovation [4]. - The company has strengthened its service capabilities in small molecule drugs, large molecule drugs, and cell and gene therapies, aiming to become a leading global player in multi-therapy drug development services [4][24]. - The laboratory services segment achieved revenue of approximately 389.25 million yuan, a 15.46% increase year-on-year, with a gross margin of 45.20% [7]. Client Engagement - The company served over 2,600 global clients, with 98.01% of revenue coming from existing clients [6]. - Revenue from the top 20 pharmaceutical clients increased by 47.98% year-on-year, accounting for 18.13% of total revenue [6]. - North American clients contributed 63.23% of total revenue, with a year-on-year growth of 11.02% [6]. Strategic Initiatives - The company is enhancing its digital and intelligent service capabilities, integrating AI technologies into various business areas to improve efficiency [17]. - A strategic partnership was established with Zhejiang University to create an AI Life Sciences Joint R&D Center, focusing on innovation in life sciences [6]. - Pharmaron is committed to sustainability, achieving 100% renewable electricity usage in some facilities and actively pursuing various international quality management certifications [6]. Industry Outlook - The global and Chinese pharmaceutical R&D and production markets are expected to maintain strong growth due to increasing healthcare investments and an aging population [21]. - The drug R&D outsourcing market is projected to grow rapidly, with integrated service platforms gaining market share as they help clients reduce costs and improve efficiency [22]. - The company is well-positioned to capitalize on these trends, leveraging its comprehensive service offerings to meet diverse client needs in drug development [24].

Core Viewpoint - 康龙化成 (Pharmaron) reported a decline in net profit for the first half of 2025, primarily due to the absence of significant investment gains seen in the previous year, despite an increase in revenue and cash flow from operations [2][6]. Financial Performance - The company's operating revenue for the reporting period was approximately 6.44 billion yuan, representing a year-on-year increase of 14.93% compared to 5.60 billion yuan in the same period last year [2]. - The net profit attributable to shareholders was approximately 701.40 million yuan, a decrease of 37.00% from 1.11 billion yuan in the previous year [2]. - The net cash flow from operating activities was approximately 1.41 billion yuan, an increase of 28.06% from 1.10 billion yuan in the previous year [2]. - Basic earnings per share were 0.3984 yuan, down 36.58% from 0.6282 yuan in the same period last year [2]. Company Overview - 康龙化成 is a leading integrated pharmaceutical R&D service platform with a global presence, focusing on accelerating drug innovation [5]. - The company operates 21 R&D centers and production bases across China, the UK, and the US, providing comprehensive drug research, development, and production services [5]. - The strategic focus is on a "full-process, integrated, international, and multi-therapy" approach to meet customer needs and enhance global operations [5]. Client and Revenue Breakdown - The company served over 2,600 global clients during the reporting period, with 98.01% of revenue coming from existing clients [6][7]. - Revenue from the top 20 pharmaceutical clients amounted to approximately 116.79 million yuan, a year-on-year increase of 47.98%, accounting for 18.13% of total revenue [7]. - Revenue from North American clients was approximately 407.26 million yuan, representing an 11.02% increase, while European clients contributed approximately 123.42 million yuan, a 30.52% increase [7]. Strategic Initiatives - The company is enhancing its digital and intelligent capabilities within its R&D service platform and has completed a controlling transaction with Zhejiang Haixin Zhihui Technology Co., Ltd. [6][7]. - A strategic cooperation agreement was signed with Zhejiang University to establish an AI Life Sciences Joint R&D Center, aimed at accelerating AI technology applications in life sciences [7]. - 康龙化成 is committed to sustainability, actively pursuing energy-saving initiatives and achieving 100% renewable electricity usage in some domestic parks [8]. ESG and Certifications - The company is expanding its ISO certification scope and has applied to join the United Nations Global Compact, committing to social responsibility in human rights, labor standards, and environmental practices [8]. - 康龙化成 received the "Industry Mover" title from S&P Global, reflecting recognition of its sustainable development efforts [8].

证券代码：300759 证券简称：康龙化成 公告编号：2025-041 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。 一、董事会会议召开情况 康龙化成（北京）新药技术股份有限公司（以下简称"公司"或"本公司"） 第三届董事会第十五次会议于 2025 年 8 月 21 日在公司办公室以现场会议和通讯 相结合的方式召开，其中，万璇女士和李家庆先生以通讯方式参会。本次会议通 知及会议材料于 2025 年 8 月 7 日以邮件形式向全体董事发出。会议应出席董事 部分高级管理人员列席了本次会议。本次会议的召集和召开符合《中华人民共和 国公司法》等有关法律、行政法规、部门规章、规范性文件和《康龙化成（北京） 新药技术股份有限公司章程》的规定。 二、董事会会议审议情况 与会董事审议并以记名投票方式通过了以下议案： （一）审议通过《关于 2025 年半年度报告全文、报告摘要及中期业绩公告 的议案》 董事会认为：公司编制的《2025 年半年度报告》《2025 年半年度报告摘要》 及《截至 2025 年 6 月 30 日止六个月中期业绩公告 ...

证券代码：300759 证券简称：康龙化成 公告编号：2025-042 康龙化成（北京）新药技术股份有限公司 本公司及监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。 一、监事会会议召开情况 康龙化成（北京）新药技术股份有限公司（以下简称"公司"）第三届监事 会第十三次会议于 2025 年 8 月 21 日以通讯方式召开，本次会议通知于 2025 年 名。本次会议由监事会主席 Kexin Yang 博士主持，公司董事会秘书列席了本次 会议。本次会议的召集和召开符合《中华人民共和国公司法》等有关法律、行政 法规、部门规章、规范性文件和《康龙化成（北京）新药技术股份有限公司章程》 的规定。 二、监事会会议审议情况 与会监事审议并以记名投票方式通过了以下议案： （一）审议通过《关于 2025 年半年度报告全文、报告摘要及中期业绩公 告的议案》 具体内容详见公司于同日披露在巨潮资讯网（http://www.cninfo.com.cn）的 《关于追加投资境外参股公司暨关联交易的公告》。 表决结果：3 票同意，0 票反对，0 票弃权。 监事会认为：公司编制的《2025 年半年度报告 ...

| 元 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 占用方与上 | | 2025 年期初 | | 2025 年半年 | 2025 年半年 | 2025 年半年 | | | | | | 上市公司核算 | | 占用累计发生 | | | | 占用形成 | | | 非经营性资金占用 期末占用 | 资金占用方名称 | | 市公司的关 占用性质 | 占用资金余 | | | 度占用资金的 | 度偿还累计 | 度 | | | | 的会计科目 | | 金额（不含利 | | | | 原因 | | | | 联关系 | | 额 | | 利息（如有） | 发生金额 | 资金余额 | | | | | | | | 息） | | | | | | | 控股股东、实际控制人 | | | | | | | | | | | 及 | | | | | | | | 非经营性占用 | | | 其附属企业 | | | | | | | | | | | 非经营性占用 | | | | | | | | | | | - 小计 | - | - | ...