Investment Rating - The report maintains a rating of "Buy" for the pharmaceutical and biotechnology sector, with a focus on specific companies such as Innovent Biologics, Efang Biologics, and Mindray Medical [4][27]. Core Insights - The report emphasizes the investment opportunities in the "One Old, One Young" sectors, particularly in reproductive assistance, pediatric drugs and vaccines, maternal and infant health monitoring, and aging-related consumer healthcare [2][24]. - It highlights the importance of clinical value in the pharmaceutical sector, suggesting that future investments should focus on innovative drug chains and high-end medical devices [3][25]. - The report notes that the domestic pharmaceutical sector is experiencing a valuation recovery, driven by supportive policies and increasing global competitiveness [26]. Summary by Sections Market Review - The A-share pharmaceutical index fell by 1.04%, underperforming the CSI 300 index by 0.96 percentage points and the ChiNext index by 2.52 percentage points, ranking 17th among 31 sub-industries [1][15]. - The Hong Kong Hang Seng Medical Health Index decreased by 2.26%, lagging behind the Hang Seng Index by 0.97 percentage points [1][15]. R&D Progress - Recent developments include IND applications from Haisimengnuo and clinical trial advancements for various drugs from companies like Hengrui Medicine and Anke Biotechnology [29][30]. Key Companies and Valuation - The report provides a detailed earnings forecast and valuation table for key companies, indicating a positive outlook for companies like WuXi AppTec and Mindray Medical, with projected PE ratios decreasing over the next few years [4][27]. Policy and Industry Resonance - The report discusses the eight key tasks for medical insurance in 2026, focusing on improving coverage for flexible employment and enhancing maternal healthcare services, which are expected to boost the birth rate and the rehabilitation medical device industry [2][20][24]. Investment Strategy - The report suggests a three-stage investment strategy based on clinical value, recommending investments in innovative drugs and high-value medical devices, with a focus on companies that are expanding internationally [3][25][26].

最新一期业绩显示，2025年三季报，公司实现营业收入6.09亿元，同比增加2.59%；净利润8738.15万 元，同比增加20.92%，销售毛利率25.58%。 序号股票简称PE(TTM)PE(静)市净率总市值(元)2普蕊斯30.1334.412.9236.63亿行业平均 49.3754.234.64188.00亿行业中值61.7864.673.0074.65亿1药明康德18.5929.493.932786.83亿3华康洁净 31.5151.091.8834.13亿4诺禾致源31.5928.132.1355.35亿5爱尔眼科31.9028.874.581026.73亿6凯莱英 32.4535.531.94337.16亿7康龙化成34.1528.803.53516.57亿8通策医疗34.9636.064.16180.79亿9华厦眼科 35.9337.002.64158.59亿10诺思格36.5039.402.8855.24亿11迈普医学42.8155.325.8143.62亿12百普赛斯 52.4673.193.4390.63亿 本文源自：市场资讯 作者：行情君 交易所数据显示，12月11日，普蕊斯收盘46.3 ...

证券日报网讯12月11日，普蕊斯（301257）在互动平台回答投资者提问时表示，截至2025年11月28日收 盘，公司股东总数为8285户。 ...

每经AI快讯，12月5日，普蕊斯（301257）公告，公司股东观由昭泰通过大宗交易和集中竞价方式合计 减持236.995万股股份，减持计划已实施完成。其中，大宗交易减持158万股，集中竞价减持78.995万 股，减持均价分别为46.01元/股和45.35元/股。本次减持后，观由昭泰持有公司股份310.409万股，占总 股本比例3.9290%。本次减持符合相关法律法规及创投基金减持特别规定，未导致公司控制权变更，亦 未违反此前披露的减持计划或相关承诺。 ...

证券代码：301257 证券简称：普蕊斯 公告编号：2025-069 一、股东减持计划实施情况 | 股东 名称 | 减持方式 | | | 减持期间 | | | 减持均价 （元/股） | 减持股数 （股） | 减持股数占总 股本比例（%） | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 大宗交易 | 2025 | 年 10 | 月 | 14 | 日至 | 46.01 | 1,580,000 | 1.9999 | | 观由 | | 2025 | 年 | 11 | 月 6 | 日 | | | | | 昭泰 | 集中竞价 | 2025 | 年 11 | 月 | 10 | 日至 | 45.35 | 789,950 | 0.9999 | | | | 2025 | 年 | 12 | 月 5 | 日 | | | | | | | | 合计 | | | | | 2,369,950 | 2.9998 | 普蕊斯（上海）医药科技开发股份有限公司 关于公司股东减持计划实施完成的公告 公司股东上海观由投资发展有限公司－观由昭泰（嘉兴）创业投资合伙企业 ...

普蕊斯（上海）医药科技开发股份有限公司 简式权益变动报告书 上市公司名称：普蕊斯（上海）医药科技开发股份有限公司 股票上市地点：深圳证券交易所 股票简称：普蕊斯 股票代码：301257 信息披露义务人（一）：上海观由投资发展有限公司－观由昭泰（嘉 兴）创业投资合伙企业（有限合伙） 住所：浙江省嘉兴市南湖区南江路 1856 号基金小镇 1 号楼 104 室-17 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》及 《公开发行证券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。 信息披露义务人（二）：新疆泰睿股权投资合伙企业（有限合伙） 住所：新疆石河子开发区北四东路 37 号 3-84 室 权益变动性质：股份减少、持股比例下降（大宗交易、集中竞价、因 公司实施 2022 年限制性股票激励计划被动稀释）、持股比例被动增 加（因公司回购注销限制性股票被动增加）。 签署日期：2025 年 11 月 24 日 1 信息披露义务人声明 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 反信息披露义务人章程或 ...

证券代码：301257 证券简称：普蕊斯 公告编号：2025-068 普蕊斯（上海）医药科技开发股份有限公司 关于公司持股 5%以上股东及其一致行动人减持至 5% 暨权益变动的提示性公告 股东上海观由投资发展有限公司－观由昭泰（嘉兴）创业投资合伙企业（有 限合伙）及其一致行动人新疆泰睿股权投资合伙企业（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。 特别提示： 1、本次权益变动为股东减持，不触及要约收购； 2、本次权益变动后，股东上海观由投资发展有限公司－观由昭泰（嘉兴） 创业投资合伙企业（有限合伙）及其一致行动人新疆泰睿股权投资合伙企业（有 限合伙）合计持有公司股份 3,950,257 股，占公司总股本比例 5.0000%，不再是 公司持股 5%以上的股东； 3、本次权益变动不会导致公司控股股东、实际控制人发生变化。 普蕊斯（上海）医药科技开发股份有限公司（以下简称"公司"）于近日收到 公司合计持股 5%以上股东上海观由投资发展有限公司－观由昭泰（嘉兴）创业 投资合伙企业（有限合伙）（以下简称" ...

Group 1 - The company, Puris (SZ 301257), announced that it will conduct investor research from October 31, 2025, to November 21, 2025, with the participation of the board secretary, Lai Xiaolong [1] - As of the latest report, Puris has a market capitalization of 3.4 billion yuan [2] - For the first half of 2025, Puris reported that its revenue composition is entirely from the service industry, accounting for 100% [1]

Company Overview - Prasis is a data-driven clinical research service provider focused on patient-centered approaches, creating a comprehensive project management system for clinical trials [2] - As of Q3 2025, the company achieved revenue of CNY 219 million, a year-on-year increase of 9.84% [2] - The net profit for Q3 2025 was CNY 33.22 million, a significant increase of 3,322.54% year-on-year, with a non-GAAP net profit of CNY 31.13 million, up 120.72% [2] Operational Highlights - The company has undertaken over 4,200 SMO projects, with 2,538 currently in execution, and employs 4,271 staff [2] - The service network covers over 1,300 clinical trial institutions across multiple cities in China [2] - For the first three quarters of 2025, the profit distribution plan included cash dividends totaling CNY 5.37 million [2] Quality Management - The company has established over 280 standard operating procedures (SOPs) and 40 negative lists to ensure quality control [3] - Continuous training and assessment of employees, along with an internal quality control team, enhance project oversight [3] - No major findings were reported during inspections by national and international regulatory bodies [3] Digital Transformation - The company prioritizes the development and application of digital and intelligent technologies as a key growth strategy [3] - A collaborative clinical trial management platform is being developed, integrating AI and advanced quality management systems for improved efficiency [3] Client Structure and Revenue Recognition - The client base primarily consists of multinational pharmaceutical companies, domestic innovative drug companies, and CROs, with significant collaborations with the top 10 global pharmaceutical companies [3] - Clinical trial project cycles typically last 2-3 years, with revenue recognition influenced by various factors, leading to non-linear income distribution [3] Recruitment and Talent Development - As of September 2025, the company has a workforce of 4,271, with over 4,000 specialized personnel [3] - Recruitment plans are aligned with project needs and are supported by a robust training system to ensure quality [4]

Dividend Announcements - Jinlu Electronics announced a cash dividend of 0.1483572 CNY per share (tax included), with the record date on November 27, 2025, and the ex-dividend date on November 28, 2025 [1] - Deshi Co. declared a cash dividend of 1.40 CNY for every 10 shares (tax included), with the record date on November 27, 2025, and the ex-dividend date on November 28, 2025 [1] - Shanghai Kaibao will distribute a cash dividend of 0.30 CNY for every 10 shares (tax included), with the record date on November 26, 2025, and the ex-dividend date on November 27, 2025 [1] Additional Dividend Announcements - Shichang Co. announced a cash dividend of 5.80 CNY for every 10 shares (tax included), with the record date on November 27, 2025, and the ex-dividend date on November 28, 2025 [2] - Mylande declared a cash dividend of 0.30 CNY per share (tax included), with the record date on November 26, 2025, and the ex-dividend date on November 27, 2025 [2] - Zhiyang Innovation announced a cash dividend of 0.10 CNY per share (tax included), with the record date on November 26, 2025, and the ex-dividend date on November 27, 2025 [2] Further Dividend Announcements - Shentong Technology declared a cash dividend of 0.027 CNY per share (tax included), with the record date on November 26, 2025, and the ex-dividend date on November 27, 2025 [3] - Jinshi Resources announced a cash dividend of 0.07 CNY per share (tax included), with the record date on November 27, 2025, and the ex-dividend date on November 28, 2025 [3] - Gibit declared a cash dividend of 6.00 CNY per share (tax included), with the record date on November 27, 2025, and the ex-dividend date on November 28, 2025 [3] Final Dividend Announcements - Puris announced a cash dividend of 0.68 CNY for every 10 shares (tax included), with the record date on November 27, 2025, and the ex-dividend date on November 28, 2025 [4] - Kaipu Testing declared a cash dividend of 2.00 CNY for every 10 shares (tax included), with the record date on November 27, 2025, and the ex-dividend date on November 28, 2025 [4]