Core Viewpoint - New Nuo Wei (300765.SZ) announced the termination of its application for the acquisition of Shiyao Chuangxin Pharmaceutical Co., Ltd. and the associated fundraising, ending a 15-month effort for a significant restructuring deal worth 7.6 billion yuan [2][3]. Group 1: Termination of Acquisition - The termination was due to changes in the pharmaceutical industry and capital market environment since the initial planning of the restructuring, leading to a decision made in the interest of long-term shareholder benefits [2][3]. - The market reacted rationally to the termination, influenced by factors such as stock price fluctuations, increasing performance burdens, and declining acquisition targets [2][3]. Group 2: Financial Performance and Challenges - New Nuo Wei's revenue and profit have been declining, with a 21.98% year-on-year decrease in revenue to 1.981 billion yuan and an 87.63% drop in net profit to 54 million yuan in 2024 [8]. - The company's core revenue from functional foods and raw materials fell by 24.90% to 1.84 billion yuan, while the biopharmaceutical sector contributed only 87.8 million yuan, despite a 153.0% increase [10]. Group 3: Acquisition Details and Valuation - The acquisition target, Shiyao Baike, has a core product, Jinyouli, which is facing growth challenges, with a significant reliance on a single product and limited growth potential [4][7]. - The valuation for Shiyao Baike was set at 7.622 billion yuan, representing a 78.25% premium over its book value of 4.276 billion yuan, raising concerns about the high price for low-growth assets [6][7]. Group 4: R&D and Future Prospects - New Nuo Wei's R&D expenses increased by 25.44% to 842 million yuan in 2024, primarily due to the inclusion of Shiji Biological's R&D costs, indicating a significant financial burden [10][11]. - The company is under pressure from negative cash flows, with net cash flow from operating activities at -1.235 billion yuan in 2024 and -87 million yuan in the first quarter of 2025 [12][13].

Core Viewpoint - New Nuo Wei (300765.SZ) has terminated its acquisition of Shiyao Baike, with the Shenzhen Stock Exchange halting the review of the asset purchase and fundraising application due to changes in the pharmaceutical industry and capital market conditions since the initial planning of the restructuring [1][3]. Group 1: Acquisition Details - The acquisition was initially approved by New Nuo Wei's board in January 2024, intending to purchase 100% of Shiyao Baike for a total consideration of 7.6 billion yuan, with 90% paid in shares and 10% in cash [2][3]. - The transaction was expected to enhance New Nuo Wei's biopharmaceutical portfolio, particularly in long-acting proteins and innovative drug pipelines [2][3]. Group 2: Financial Performance - New Nuo Wei has experienced a decline in revenue and net profit for two consecutive years, with revenues of 25.39 billion yuan in 2023 and 19.81 billion yuan in 2024, representing year-on-year decreases of 4.75% and 21.98%, respectively [6]. - The net profit for 2023 and 2024 was reported at 4.34 billion yuan and 537.26 million yuan, showing declines of 40.18% and 87.63% year-on-year [6]. - In Q1 2025, New Nuo Wei reported revenues of 472 million yuan, a 9.94% decrease year-on-year, and a net loss of 26.90 million yuan compared to a profit of 79.06 million yuan in the same period the previous year [8]. Group 3: R&D and Market Conditions - The company has significantly increased its R&D expenditures, reaching 840 million yuan in 2024, a 25.44% increase from the previous year, with Q1 2025 R&D expenses at 240 million yuan, up 117.68% year-on-year [6][9]. - New Nuo Wei's strategic focus includes ADCs, mRNA vaccines, and antibody drugs, with over 20 products in the pipeline and several achieving important milestones in 2024 [7].

Core Insights - The latest net value of ICBC Frontier Medical Stock A (001717) is 2.8300 yuan, reflecting a decrease of 1.77% [1] - The fund has shown a one-month return of 5.28%, ranking 400 out of 471 in its category; a three-month return of 8.06%, ranking 71 out of 471; and a year-to-date return of 7.56%, ranking 113 out of 469 [1] Fund Holdings - The top ten holdings of ICBC Frontier Medical Stock A account for a total of 59.05%, with the largest positions being: - Heng Rui Medicine (10.11%) - Kelun Pharmaceutical (8.01%) - WuXi AppTec (7.72%) - BeiGene (6.85%) - Xinlitai (4.90%) - Zai Lab (4.77%) - Yuyue Medical (4.60%) - New Horizon Health (4.36%) - East China Pharmaceutical (4.20%) - Haizhi Pharmaceutical (3.53%) [1] Fund Overview - ICBC Frontier Medical Stock A was established on February 3, 2016, and as of March 31, 2025, it has a total scale of 9.081 billion yuan [1] - The fund manager is Zhao Bei, who has extensive experience in the healthcare sector [2]

Group 1: Termination of Asset Restructuring - The termination of the asset restructuring will not have a significant adverse impact on the company's existing operations and strategic planning [1][2][4] - The decision to terminate the restructuring was made after careful consideration of the pharmaceutical industry and capital market conditions [2][4] - The company will not plan any major asset restructuring for at least one month following the announcement of the termination [2][4] Group 2: Business Operations and Future Plans - The company will continue to focus on research and development, enhancing drug development efficiency [2][3][4] - Ongoing projects, including the construction of production lines for monoclonal antibodies and ADC new products, are progressing normally [3][4] - As of April 30, 2025, the number of shareholders was 12,217 [2][5] Group 3: Innovation and Market Strategy - The company aims to establish a comprehensive research pipeline by continuously exploring new molecules and maintaining a high-efficiency research progress [2][3] - Future product lines will focus on cutting-edge areas such as ADC, mRNA vaccines, and antibody drugs [2][5] - The company is committed to creating greater value for investors through sustained innovation and improved management [2][4]

证券代码：300765 证券简称：新诺威 公告编号：2025-045 石药创新制药股份有限公司 关于收到深圳证券交易所《关于终止对石药创新制药股份有 限公司发行股份购买资产并募集配套资金申请审核的决定》 的公告 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。 石药创新制药股份有限公司（以下简称"公司"）于 2025 年 4 月 28 日召开 第六届董事会第二十四次会议、第六届监事会第十九次会议，审议通过了《关于 终止发行股份及支付现金购买资产并募集配套资金暨关联交易事项并撤回申请 文件的议案》，同意公司终止发行股份及支付现金购买资产并募集配套资金暨关 联交易事项并撤回申请文件 。具体内容详见公司同日在巨潮资讯网 （http://www.cninfo.com.cn）披露的《关于终止发行股份及支付现金购买资产并 募集配套资金暨关联交易事项并撤回申请文件的公告》（公告编号：2025-042）。 公司于 2025 年 4 月 29 日向深圳证券交易所（以下简称"深交所"）提交了 《石药创新制药股份有限公司关于撤回发行股份购买资产并募集配套资金申请 文件的申请》，向深交 ...

Group 1 - The core viewpoint of the news is the performance and holdings of the Industrial and Commercial Bank of China Medical Healthcare Stock Fund, which has shown positive growth in recent months and has a diversified portfolio in the healthcare sector [1][3]. - As of April 30, 2025, the latest net value of the fund is 2.5180 yuan, reflecting a growth of 1.82%. The fund's return over the past month is 2.07%, ranking 41 out of 469 in its category. Over the past three months, the return is 11.71%, ranking 45 out of 467, and since the beginning of the year, the return is 10.49%, ranking 44 out of 465 [1]. - The fund's total assets amount to 2.724 billion yuan as of March 31, 2025, and it was established on November 18, 2014. The fund managers are Zhao Bei and Ding Yang [1]. Group 2 - The top ten holdings of the fund account for a total of 39.79%, with significant investments in companies such as Heng Rui Pharmaceutical (8.90%), WuXi AppTec (5.12%), and Aier Eye Hospital (4.94%) [1]. - Zhao Bei, the fund manager, has extensive experience in the healthcare sector, having been with ICBC Credit Suisse Asset Management since 2010 and managing the healthcare fund since its inception in 2014. Ding Yang, the co-manager, has a strong academic background and joined the firm in 2017 [2].

证券代码：300765 证券简称：新诺威 公告编号：2025-044 石药创新制药股份有限公司 关于使用部分闲置募集资金进行现金管理的进展公告 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。 石药创新制药股份有限公司（以下简称"公司"）于 2025 年 3 月 19 日召开第 六届董事会第二十二次会议、第六届监事会第十七次会议，于 2025 年 4 月 15 日 召开 2024 年年度股东大会，会议审议并通过了《关于使用部分闲置募集资金及 自有资金进行现金管理的议案》。在不影响募集资金投资项目建设和公司正常经 营的情况下，公司及子公司使用不超过人民币 8.00 亿元（含本数）额度的闲置募 集资金及不超过人民币 8.00 亿元（含本数）的自有资金进行现金管理，投资安全 性高、流动性好的保本型产品（包括结构性存款、大额存单等），使用期限自股 东大会审议通过之日起 12 个月内有效。在上述额度及决议有效期内，业务可循 环滚动开展。具体内容详见巨潮资讯网（http://www.cninfo.com.cn）披露的《关 于使用部分闲置募集资金及自有资金进行现金管理的公告》 ...

Core Viewpoint - The planned acquisition of Shiyao Group Baike by XinNuoWei has been terminated after over a year of planning due to changes in the pharmaceutical industry and capital market environment, which affected the long-term interests of shareholders [1][4]. Group 1: Acquisition Details - XinNuoWei intended to acquire 100% equity of Shiyao Baike for a transaction price of 7.6 billion yuan and planned to raise supporting funds by issuing shares to no more than 35 specific investors [4]. - The decision to terminate the acquisition was made after thorough discussions and considerations regarding the prolonged planning period and the associated risks due to market changes [4][5]. Group 2: Market Reaction - Following the announcement of the termination, XinNuoWei's stock opened down 13.21% at 35.66 yuan per share, with a drop exceeding 15% during trading, ultimately closing at 39.6 yuan, down 3.63%, resulting in a total market capitalization of 55.62 billion yuan [4][5]. Group 3: Company Performance - XinNuoWei's performance has been under pressure, with a reported revenue of 472 million yuan in Q1 2025, a year-on-year decline of 9.94%, and a net profit loss of 26.9 million yuan, marking a shift from profit to loss compared to the previous year [5][6]. - The decline in net profit is attributed to a significant increase in R&D expenses at Jushi Bio and a decrease in revenue from functional raw materials due to fluctuations in caffeine prices [6].

金融界4月29日消息，上证指数低开震荡，中证食品主题指数 (食品主题，931728)报1013.94点。 从中证食品主题指数持仓样本的行业来看，调味品与食用油占比41.76%、其他食品占比31.62%、休闲 食品占比16.80%、肉制品占比9.82%。 资料显示，指数样本每半年调整一次，样本调整实施时间分别为每年6月和12月的第二个星期五的下一 交易日。权重因子随样本定期调整而调整，调整时间与指数样本定期调整实施时间相同。在下一个定期 调整日前，权重因子一般固定不变。特殊情况下将对指数进行临时调整。当样本退市时，将其从指数样 本中剔除。样本公司发生收购、合并、分拆等情形的处理，参照计算与维护细则处理。 从指数持仓来看，中证食品主题指数十大权重分别为：海天味业（14.08%）、双汇发展（9.82%）、安 琪酵母（7.63%）、金龙鱼（6.52%）、新诺威（5.88%）、安井食品（5.57%）、中炬高新（4.36%）、 莲花控股（4.29%）、汤臣倍健（3.95%）、涪陵榨菜（3.77%）。 从中证食品主题指数持仓的市场板块来看，上海证券交易所占比51.83%、深圳证券交易所占比 48.17%。 数据统计显示，中 ...

星标 ★ IPO日报 精彩文章第一时间推送 4月28日晚间，石药创新制药股份有限公司（下称"新诺威"，300765.SZ）发布公告称，公司于4月28日召开第六届董事会第二十四次会议、第六 届监事会第十九次会议，审议通过了《关于终止发行股份及支付现金购买资产并募集配套资金暨关联交易事项并撤回申请文件的议案》，同意公司 终止发行股份及支付现金购买资产并募集配套资金暨关联交易事项并撤回申请文件。 新诺威表示，鉴于本次重组事项自筹划以来已历时较长，医药行业及资本市场整体环境等情况较本次重组筹划之初发生了一定变化，为维护公司全体股东 长期利益，经公司与交易各相关方友好协商、认真研究和充分论证，基于审慎性考虑，决定终止本次重组事项。 受此消息影响，4月29日，新诺威低开13.21%，开盘价为35.66元/股。截至今日收盘，新诺威报39.6元/股，跌幅为3.63%。 来源：张力 筹划一年多 回顾本次收购，公司最早在2024年1月宣布了并购消息。2024年12月，深交所受理了公司的并购重组申请，并在同月下发了问询函。2025年1月，公司回复 了问询函。2025年3月，因相关财务资料已过有效期需要补充提交，深交所对本次交易中止 ...