Market Performance - The medical services sector increased by 2.52% on February 3, with Norsig leading the gains [1] - The Shanghai Composite Index closed at 4067.74, up by 1.29%, while the Shenzhen Component Index closed at 14127.1, up by 2.19% [1] Top Gainers in Medical Services - Norsig (301333) closed at 78.98, up by 8.76% with a trading volume of 43,200 shares and a transaction value of 332 million [1] - Yinos (688710) closed at 61.07, up by 7.52% with a trading volume of 17,400 shares and a transaction value of 10.4 million [1] - Dean Diagnostics (300244) closed at 24.73, up by 6.69% with a trading volume of 447,200 shares and a transaction value of 1.084 billion [1] Market Capital Flow - The medical services sector saw a net inflow of 506 million from institutional investors, while retail investors experienced a net outflow of 4.12 billion [2][3] - The top stocks with significant institutional inflows included Tiger Medical (300347) with 103 million and Meinian Health (002044) with 86 million [3] Stock Performance Overview - The stock performance of various companies in the medical services sector showed a mix of gains and losses, with notable declines in stocks like Haocen Medical (002622) down by 1.97% [2] - The trading volume and transaction values varied significantly across different companies, indicating diverse investor interest [2]

Group 1 - The core viewpoint of the news is that Hongbo Pharmaceutical's stock has increased by 5.14%, reaching a price of 48.85 CNY per share, with a trading volume of 503 million CNY and a turnover rate of 8.46%, resulting in a total market capitalization of 6.819 billion CNY [1] - Hongbo Pharmaceutical, established on December 14, 2007, and listed on November 1, 2022, is located in Shanghai and focuses on drug discovery, pharmaceutical process research and development, and the commercial production of active pharmaceutical ingredients. The revenue composition is as follows: drug discovery 52.67%, commercial production 35.00%, process research and development 8.10%, and others 4.23% [1] Group 2 - Longcheng Fund's Longcheng Consumption Value Mixed A Fund (200006) is among the top ten circulating shareholders of Hongbo Pharmaceutical, holding 1.6009 million shares, unchanged from the previous period, representing 2.08% of circulating shares, with an estimated floating profit of approximately 3.8262 million CNY [2] - The Longcheng Consumption Value Mixed A Fund has a total scale of 474 million CNY, with a year-to-date return of 8.38%, ranking 925 out of 8874 in its category, and a one-year return of 26.19%, ranking 4175 out of 8124 [2] Group 3 - The fund manager of Longcheng Consumption Value Mixed A Fund is Long Yufei, who has been in the position for 8 years and 111 days, managing assets totaling 704 million CNY, with the best fund return during his tenure being 61.42% and the worst being -8.9% [3] Group 4 - Longcheng Consumption Value Mixed A Fund reduced its holdings in Hongbo Pharmaceutical by 100,000 shares in the fourth quarter, now holding 1.5009 million shares, which accounts for 6.37% of the fund's net value, making it the sixth-largest holding [4]

Investment Rating - The investment rating for the healthcare industry is "Positive" and maintained [14] Core Insights - The funding levels for Chinese innovative pharmaceutical companies are increasing, leading to a gradual improvement in the research and development (R&D) investment sentiment within the industry. This is expected to usher in a new cycle of prosperity for the innovative drug industry chain [5][12] - The trend of external business development (BD) is likely to benefit the domestic early-stage research industry significantly, as new business models allow early-stage projects to become tradable and monetizable assets, enhancing R&D investment returns [13] Summary by Sections Innovative Chain Development Review - Before 2020, multiple factors converged to initiate a significant rise in China's innovative drug sector, leading to the rapid development of the innovative chain, including CXO and life sciences services [10][30] - From 2020 to the first half of 2022, the global public health crisis accelerated capital inflow into the biopharmaceutical sector, resulting in high demand and a leap in the innovative chain segment, which also triggered a wave of IPOs and substantial supply-side expansion [10][39] - The second half of 2022 to 2024 saw a transition from a heated to a cooling phase, with a significant shift in supply-demand dynamics leading to industry internal competition and pressure on revenues and profit margins [10][54][57] Improvement in R&D Investment Sentiment - Starting from 2025, the R&D investment sentiment in China's innovative drug sector is expected to improve, with companies experiencing increased funding levels. The total amount raised through IPOs and additional offerings in 2025 is projected to reach 201.5 billion yuan, a 145% year-on-year increase [11][62] - The potential milestone payments from external BD are expected to reach 880.5 billion yuan in 2025, marking a 185.9% year-on-year increase, indicating a robust funding environment for innovative drug companies [11] Benefits to Early-stage Research Industry - The new external BD business model enhances the R&D investment return rates for Chinese innovative drug companies, thereby increasing their willingness to invest in R&D [11][13] - The early-stage research industry, including drug discovery CROs and clinical trial services, is expected to benefit significantly from the external BD trend, with leading companies in these segments poised for rapid growth [13]

Investment Rating - The industry rating is neutral, indicating that the overall return is expected to be between -5% and 5% relative to the CSI 300 index over the next six months [9]. Core Insights - Sarepta's gene therapy Elevidys has shown positive results in its Phase 3 clinical trial, maintaining higher than baseline scores in the North Star Ambulatory Assessment (NSAA) after three years in patients treated at an average age of 9 [5]. - The pharmaceutical sector experienced a decline of 1.11% on January 27, 2025, underperforming the CSI 300 index by 1.08 percentage points, ranking 27th among 31 sub-industries [4]. - Among sub-industries, other biological products (+0.13%) and in vitro diagnostics (-0.07%) performed well, while vaccines (-3.55%) and offline pharmacies (-2.69%) lagged [4]. Sub-industry Summary - Chemical Pharmaceuticals: No rating [3] - Traditional Chinese Medicine: No rating [3] - Biopharmaceuticals II: Neutral [3] - Other Pharmaceutical Industries: Neutral [3]

1、报告期内，公司围绕"以药物设计为核心驱动、以一站式服务为战略主导"的发展定位持续深化主营 业务布局，积极落实年度经营计划，2025 年整体经营态势良好。药物发现、工艺研究与开发、商业化 生产各业务板块营业收入均实现同比增长。两家全资子公司上海泓博尚奕药物技术有限公司和成都泓博 智源医药技术有限公司产能利用率较上年有不同程度提升，通过加强精细化管理和优化资源配置，经营 效率持续改善。公司同步加强平台建设，不断完善产业链服务体系，显著提升了从新药发现到商业化生 产的一站式综合服务能力，进一步巩固了公司的战略竞争优势；2、计入当期损益的非经常性损益对净 利润影响金额约为1,200 万元，主要系项目补助及理财收益。 格隆汇1月27日丨泓博医药(301230.SZ)公布，预计2025年归属于上市公司股东的净利润3,120万元～ 3,810万元，比上年同期增长82.64%～123.03%，扣除非经常性损益后的净利润2,090万元～2,560万元， 比上年同期增长321.59%～416.40%。 ...

Core Viewpoint - Hongbo Pharmaceutical (301230) forecasts a net profit attributable to shareholders of 31.2 million to 38.1 million yuan for 2025, representing a year-on-year growth of 82.64% to 123.03% [1] Group 1: Business Performance - The company has continuously deepened its main business layout and actively implemented its annual operating plan, resulting in a favorable overall business situation for 2025 [1] - Revenue from drug discovery, process research and development, and commercial production has all achieved year-on-year growth [1] Group 2: Operational Efficiency - The capacity utilization rates of its wholly-owned subsidiaries, Shanghai Hongbo Shangyi Pharmaceutical Technology Co., Ltd. and Chengdu Hongbo Zhiyuan Pharmaceutical Technology Co., Ltd., have improved to varying degrees compared to the previous year [1] - The company has enhanced operational efficiency through refined management and optimized resource allocation [1] Group 3: Strategic Development - Hongbo Pharmaceutical has strengthened platform construction and continuously improved its industrial chain service system [1] - The company has significantly enhanced its one-stop comprehensive service capability from new drug discovery to commercial production, further consolidating its strategic competitive advantage [1]

（编辑 王雪儿） 证券日报网讯 1月27日，泓博医药发布公告称，公司预计2025年度归属于上市公司股东的净利润为3， 120万元至3，810万元，比上年同期1，708.32万元增长82.64%至123.03%。 ...

新京报贝壳财经讯 1月27日，泓博医药公告，预计2025年度归属于上市公司股东的净利润为3120万元～ 3810万元，同比增长82.64%～123.03%。扣除非经常性损益后的净利润为2090万元～2560万元，同比增 长321.59%～416.40%。报告期内，公司围绕"以药物设计为核心驱动、以一站式服务为战略主导"的发 展定位持续深化主营业务布局，积极落实年度经营计划，2025年整体经营态势良好。 ...

证券时报·数据宝统计显示，泓博医药今日收于48.90元，下跌2.59%，日换手率为11.21%，成交额为6.97 亿元，近5日上涨3.49%。通过对2025年业绩预增50%以上的个股走势进行统计发现，预告发布后当日股 价上涨的占比60.26%，股价发布当日股价涨停的有12家。预告发布后5日股价上涨的占比60.26%。 泓博医药（301230）1月27日发布2025年业绩预增公告，预计实现净利润为3120.00万元~3810.00万元， 净利润同比增长82.64%~123.03%。 资金面上，该股今日主力资金净流出6333.75万元，近5日资金净流出8390.50万元。最新（1月26日）两 融余额3.88亿元，其中，融资余额3.87亿元，环比前一交易日增长2.22%，近5日融资余额累计下降 20.44%。（数据宝） （文章来源：证券时报网） ...

证券代码：301230 证券简称：泓博医药 公告编号：2026-004 上海泓博智源医药股份有限公司 2025年度业绩预告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 一、本期业绩预告情况 1、业绩预告期间：2025 年 1 月 1 日至 2025 年 12 月 31 日。 2、业绩预告情况：预计净利润为正值且属于同向上升 50%以上情形 （1）以区间数进行业绩预告的 二、与会计师事务所沟通情况 单位：万元 项 目 本报告期 上年同期 归属于上市公司股 东的净利润 3,120 ～ 3,810 比上年同期 1,708.32 增长 82.64% ～ 123.03% 扣除非经常性损益 后的净利润 2,090 ～ 2,560 比上年同期 495.74 增长 321.59% ～ 416.40% 三、业绩变动原因说明 1、报告期内，公司围绕"以药物设计为核心驱动、以一站式服务为战略主导"的发 展定位持续深化主营业务布局，积极落实年度经营计划，2025 年整体经营态势良好。药物 发现、工艺研究与开发、商业化生产各业务板块营业收入均实现同比增长。两家全资子公 司上海泓博尚 ...