（文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：请问贵公司是否有和"华与华"合作？合同续签了几年？ 可靠股份（301009.SZ）9月17日在投资者互动平台表示，目前公司与其暂无合作。 ...

第2笔成交价格为12.35元，成交20.25万股，成交金额250.09万元，溢价率为-11.66%，买方营业部为机 构专用，卖方营业部为国泰海通证券股份有限公司上海长宁区江苏路证券营业部。 进一步统计，近3个月内该股累计发生2笔大宗交易，合计成交金额为500.18万元。该股近5个交易日累 计上涨0.58%，主力资金合计净流出586.41万元。 责任编辑：小浪快报 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 9月16日，可靠股份收涨1.53%，收盘价为13.98元，发生2笔大宗交易，合计成交量40.5万股，成交金额 500.18万元。 第1笔成交价格为12.35元，成交20.25万股，成交金额250.09万元，溢价率为-11.66%，买方营业部为机 构专用，卖方营业部为国泰海通证券股份有限公司上海长宁区江苏路证券营业部。 ...

Investment Rating - The report maintains a "Recommended" investment rating for the pharmaceutical industry as of September 15, 2025 [1] Core Insights - The trend of Chinese innovative drugs going overseas continues, with a focus on selective opportunities. The report highlights that the global pharmaceutical transaction volume reached 456 deals in the first half of 2025, a 32% year-on-year increase, with upfront payments totaling $11.8 billion, a 136% surge, and total transaction value hitting $130.4 billion, up 58% year-on-year [2] - The report emphasizes the promising clinical data from Chinese innovative drugs presented at the World Lung Cancer Conference, particularly in the ADC (Antibody-Drug Conjugate) field, showcasing significant efficacy advantages [3] - The report discusses the potential of small nucleic acid drugs and innovative delivery systems, indicating new market opportunities arising from strategic collaborations between Chinese companies and multinational corporations [4] - The CXO (Contract Research Organization) sector is expected to gradually recover, with a notable increase in orders anticipated in the third quarter of 2025, driven by improved innovation environments and funding from license-out transactions [5] - The 2025 medical insurance negotiation and commercial insurance innovative drug directory work has commenced, with a focus on orphan drugs and breakthrough treatment varieties [6] Summary by Sections 1. Pharmaceutical Market Tracking - The pharmaceutical industry underperformed the CSI 300 index by 1.75% in the past week, with a recent one-month increase of 3.32%, lagging behind the CSI 300 by 5.81% [22][26] - The medical device sector showed the highest weekly increase of 2.23%, while the chemical pharmaceutical sector experienced a decline of 2.57% [31] 2. Pharmaceutical Sector Trends and Valuation - The pharmaceutical industry index's current PE (TTM) stands at 40.60, above the five-year historical average of 31.60 [46] - The report notes that the pharmaceutical sector has shown a 15.06% increase over the past three months, outperforming the CSI 300 by 16.11% [43] 3. Recent Research Achievements - The report outlines recent research achievements by the Huaxin pharmaceutical team, including various in-depth and commentary reports on innovative drug developments and market trends [50] 4. Recent Industry Policies and News - The report details recent policy updates from the National Healthcare Security Administration regarding the 2025 drug directory adjustments and the approval of new drug applications [52][55]

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 603193 | 润本股份 | 28.25 | -2.62% | 4.81万 | 1.37亿 | | 003006 | 百亚股份 | 28.20 | -1.81% | 3.50万 | 9899.47万 | | 300658 | 延江股份 | 8.41 | -1.52% | - 16.86万 | 1.42亿 | | 002511 | 中顺洁柔 | 8.34 | -1.42% | 12.55万 | 1.05亿 | | 603059 | 倍加洁 | 31.83 | -1.09% | 3.98万 | 1.26亿 | | 605009 | 豪悦护理 | 34.26 | -0.70% | 2.12万 | 7270.40万 | | 301009 | 可靠股份 | 13.77 | -0.51% | 3.31万 | 4567.41万 | | 600249 | 两面针 | 6.39 | -0.16% | 29.61万 | 1.88亿 | | 001328 | 登康口腔 ...

证券之星消息，9月12日个护用品板块较上一交易日下跌1.1%，百亚股份领跌。当日上证指数报收于 3883.69，上涨0.22%。深证成指报收于12996.38，上涨0.13%。个护用品板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 301108 | 洁雅股份 | 34.18 | 5.01% | 3.63万 | | 1.23亿 | | 001206 | 依依股份 | 28.40 | 0.53% | 6.05万 | | 1.75亿 | | 603193 | 润本股份 | 28.82 | -0.41% | 1.59万 | 4601.60万 | | | 605009 | 家用护理 | 34.55 | -0.49% | 1.46万 | 5065.91万 | | | 300658 | 延江股份 | 8.56 | -0.58% | 20.82万 | | 1.77亿 | | 301009 | 可靠股份 | 13.87 | -0.64% | 2.46万 | 3413.99万 ...

Market Overview - The personal care products sector increased by 0.76% on September 11, with Yanjiang Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3875.31, up 1.65%, while the Shenzhen Component Index closed at 12979.89, up 3.36% [1] Stock Performance - Yanjiang Co., Ltd. (300658) closed at 8.61, with a rise of 6.82% and a trading volume of 412,000 shares, amounting to a transaction value of 353 million yuan [1] - Yiyi Co., Ltd. (001206) closed at 28.25, up 4.28%, with a trading volume of 77,700 shares and a transaction value of 215 million yuan [1] - Beijia Co., Ltd. (603059) closed at 32.58, up 2.45%, with a trading volume of 62,400 shares and a transaction value of 203 million yuan [1] - Other notable performances include Reliable Co., Ltd. (301009) at 13.96 (+1.82%), and Zhongshun Jiesang (002511) at 8.58 (+1.06%) [1] Capital Flow Analysis - The personal care products sector experienced a net outflow of 43.97 million yuan from institutional investors and 22.16 million yuan from speculative funds, while retail investors saw a net inflow of 66.14 million yuan [2] - The detailed capital flow for individual stocks shows that Yiyi Co., Ltd. had a net inflow of 11.10 million yuan from institutional investors, while Reliable Co., Ltd. had a net inflow of 4.75 million yuan [3] - Conversely, companies like Two-Sided Needle (600249) and Dengkang Oral Care (001328) experienced significant net outflows from institutional and speculative funds [3]

Market Overview - The personal care products sector experienced a decline of 0.39% on September 10, with Dengkang Oral Care leading the drop [1] - The Shanghai Composite Index closed at 3812.22, up 0.13%, while the Shenzhen Component Index closed at 12557.68, up 0.38% [1] Stock Performance - Notable stock performances include: - Yanjing Co. (300658) rose by 7.47% to a closing price of 8.06, with a trading volume of 506,100 shares and a turnover of 412 million [1] - Jieya Co. (301108) increased by 2.01% to 32.98, with a trading volume of 25,700 shares and a turnover of 83.7 million [1] - Liangmian Needle (600249) saw a rise of 1.21% to 6.69, with a trading volume of 1,118,000 shares and a turnover of 745 million [1] - Dengkang Oral Care (001328) fell by 2.24% to 40.62, with a trading volume of 17,500 shares and a turnover of 71.3 million [2] Capital Flow - The personal care products sector saw a net outflow of 18.51 million from institutional investors, while retail investors contributed a net inflow of 33.14 million [2] - The capital flow for key stocks includes: - Liangmian Needle had a net inflow of 22.12 million from institutional investors, but a net outflow of 16.05 million from retail investors [3] - Yanjing Co. experienced a net inflow of 3.64 million from institutional investors and a net outflow of 14.09 million from retail investors [3] - Dengkang Oral Care had a net outflow of 1.05 million from institutional investors and a net outflow of 2.16 million from retail investors [3]

Investment Rating - The investment rating for the company is "Accumulate" with a target price of 16.84 CNY [6][13]. Core Viewpoints - The company is experiencing significant improvement in operations, particularly in the adult incontinence products segment, driven by population aging and product innovation [2][13]. - The company has adjusted its profit expectations for 2025-2027, forecasting EPS of 0.14 CNY for 2025, 0.14 CNY for 2026, and 0.15 CNY for 2027, reflecting a robust growth trajectory in its proprietary brand business [13][14]. - The company has actively participated in the formulation of industry standards, completing 20 research projects and contributing to four national and group standards [13]. Financial Summary - Total revenue for 2025 is projected at 1.136 billion CNY, with a year-on-year growth of 5.3% [4]. - The net profit attributable to the parent company is expected to reach 38 million CNY in 2025, reflecting a growth of 20.5% [4]. - The gross profit margin for Q2 2025 is reported at 23.62%, with a net profit margin of 3.60% [13]. Product Performance - In the first half of 2025, revenue from adult incontinence products was 287 million CNY, up 4.62% year-on-year, while revenue from baby care products was 209 million CNY, up 5.60% [13]. - The company has seen a significant increase in net profit for Q2 2025, with a year-on-year growth of 98.42% [13]. Market Position - The company has a total market capitalization of 3.763 billion CNY and a current price range of 6.91 to 16.98 CNY over the past 52 weeks [7][8]. - The company maintains a strong balance sheet with a net asset return rate of 2.7% projected for 2025 [4][14].

Core Viewpoint - The company is experiencing growth in adult incontinence products driven by population aging and policy demand, while also participating in standard-setting to promote industry development [1]. Investment Highlights - The company has adjusted its profit expectations but maintains a "Buy" rating, forecasting EPS of 0.14/0.14/0.15 yuan for 2025-2027, with a target price of 16.84 yuan based on a 3.3x PB for 2025 [2]. - In the first half of 2025, the company's revenue reached 549 million yuan, a year-on-year increase of 5.39%, with net profit attributable to shareholders at 28 million yuan, up 21.81% [2]. - The revenue from adult incontinence products in the first half of 2025 was 287 million yuan, a year-on-year increase of 4.62% [2]. Industry Development - The company completed 20 research projects and participated in drafting four national and group standards, including the "Guidelines for Aging-Friendly Design of Household Products" [3]. - As of the first half of 2025, the company holds 207 valid patents, including 65 invention patents, 101 utility model patents, and 41 design patents [3]. - The company's net profit margin in Q2 2025 was 3.60%, an increase of 1.55 percentage points year-on-year, while the gross profit margin was 23.62%, a slight decrease of 0.15 percentage points [3].

Market Overview - The personal care products sector rose by 2.89% on September 4, with Jieya Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3765.88, down 1.25%, while the Shenzhen Component Index closed at 12118.7, down 2.83% [1] Stock Performance - Jieya Co., Ltd. (301108) closed at 34.40, up 13.16% with a trading volume of 72,700 shares and a turnover of 243 million yuan [1] - Yiyi Co., Ltd. (001206) closed at 26.72, up 10.00% with a trading volume of 131,800 shares and a turnover of 342 million yuan [1] - Dengkang Oral Care (001328) closed at 43.55, up 7.40% with a trading volume of 53,000 shares and a turnover of 226 million yuan [1] - Other notable performers include Ziya Co., Ltd. (003006) up 5.13%, and Liangmian Needle (600249) up 3.29% [1] Capital Flow - The personal care products sector saw a net inflow of 56.24 million yuan from institutional investors, while retail investors experienced a net outflow of 6.89 million yuan [2] - The main capital inflow was observed in Yiyi Co., Ltd. with 64.76 million yuan, while the largest outflow was from Jieya Co., Ltd. with 22.08 million yuan [3] Individual Stock Analysis - Jieya Co., Ltd. had a main capital inflow of 3.69 million yuan, but retail investors showed a net outflow of 22.07 million yuan [3] - Dengkang Oral Care experienced a net outflow of 4.13 million yuan from main capital, while retail investors had a net inflow of 14.52 million yuan [3] - Ziya Co., Ltd. had a net inflow of 3.36 million yuan from main capital, with a slight outflow from retail investors [3]