2025 年10 月，诺思格发布2025 年三季报：公司2025 年前三季度实现营业收入6.07 亿元，同比增长 8.09%；实现归母净利润0.96 亿元，同比增长13.21%。其中，Q3 单季度实现营业收入2.28 亿元，同比 增长24.48%；实现归母净利润0.34 亿元，同比增长32.98%。 投资建议 事件点评 我们预计2025-2027 年公司实现营业收入7.82 亿元、8.73 亿元、9.72亿元，同比+5.1%/+11.7%/11.3%； 实现归母净利润1.51 亿元、1.74 亿元、2.00 亿元，同比+7.5%/+15.6%/+14.7%。维持"增持"评级。 临床业务已现回暖迹象，部分订单价格有所回暖得益于国内生物医药需求端的回暖，CRO 行业订单量 有所增加，同时价格压力有所缓解已企稳，部分高端客户因公司科学性优势，价格有回升趋势。价格企 稳回升叠加公司精细化管理与AI 技术应用的布局，毛利率水平有望进一步提升。 风险提示 费用端持续优化，业绩稳健改善 费用端，公司25Q1-3 销售费用率为1.66%、管理费用率为10.07%、研发费用率为7.54%。单季度看，单 三季度销售费用率1.65 ...

[Table_StockNameRptType] 诺思格（301333） 公司点评 行业需求回暖，业绩稳健向上 | 投资评级：增持（维持） [Table_Rank] | | --- | | 报告日期： 2025-11-07 | | [Table_BaseData] 收盘价（元） | 64.59 | | --- | --- | | 近 12 个月最高/最低（元） | 73.08/40.99 | | 总股本（百万股） | 97 | | 流通股本（百万股） | 57 | | 流通股比例（%） | 59.19 | | 总市值（亿元） | 62 | | 流通市值（亿元） | 37 | [公司价格与沪深 Table_Chart] 300 走势比较 -46% -28% -11% 7% 25% 11/24 2/25 5/25 8/25 诺思格 沪深300 [Table_Author] 分析师：谭国超 执业证书号：S0010521120002 邮箱：tangc@hazq.com 分析师：杨馥瑗 执业证书号：S0010524080001 邮箱：yangfuyuan@hazq.com 主要观点： ➢[Table_Summary] ...

11月7日，诺思格盘中下跌2.14%，截至10:51，报63.21元/股，成交7394.28万元，换手率2.02%，总市值 61.05亿元。 资金流向方面，主力资金净流入135.34万元，大单买入799.53万元，占比10.81%，卖出664.19万元，占 比8.98%。 诺思格所属申万行业为：医药生物-医疗服务-医疗研发外包。所属概念板块包括：小盘、社保重仓、融 资融券、CRO概念、创新药等。 截至9月30日，诺思格股东户数8734.00，较上期减少16.18%；人均流通股6545股，较上期增加19.30%。 2025年1月-9月，诺思格实现营业收入6.07亿元，同比增长8.09%；归母净利润9556.68万元，同比增长 13.21%。 分红方面，诺思格A股上市后累计派现4949.69万元。 机构持仓方面，截止2025年9月30日，诺思格十大流通股东中，诺安先锋混合A（320003）位居第六大 流通股东，持股167.96万股，为新进股东。香港中央结算有限公司位居第十大流通股东，持股69.04万 股，相比上期减少13.85万股。中庚价值灵动灵活配置混合（007497）、中庚价值领航混合（006551） 退出十 ...

格隆汇11月5日丨诺思格(301333.SZ)在互动平台表示，公司密切关注Ai技术，自主研发Ai平台，以提高 医药研发外包服务效率。 ...

Core Viewpoint - The company reported strong growth in Q3 2025, indicating a recovery in the market and improved order conditions, with a significant increase in revenue and net profit compared to the previous year [1][2]. Financial Performance - For Q3 2025, the company achieved revenue of 228 million yuan, a year-on-year increase of 24.48%, and a net profit of 34 million yuan, up 32.98% [1]. - The total revenue for the first three quarters of 2025 reached 607 million yuan, reflecting an 8.09% increase, with a net profit of 96 million yuan, up 13.21% [1]. Business Segment Analysis - The SMO (Site Management Organization) business emerged as the core growth driver, generating 129 million yuan in revenue for H1 2025, a 31.23% increase, and accounting for 34.10% of total revenue [2]. - The CO (Clinical Operations) business faced challenges, with H1 2025 revenue of 149 million yuan, down 7.6%, but there are expectations for gradual recovery in the large clinical business [2]. - The DM/ST (Data Management/Statistical) business remained stable, with H1 2025 revenue of 50 million yuan, showing no significant change, supported by stable overseas order prices [2]. Profitability and Cost Management - The company's gross margin for Q1-Q3 2025 was 35.61%, a decrease of 3.58 percentage points year-on-year, primarily due to low-priced orders signed during the industry's previous downturn [3]. - The company improved its non-GAAP net profit margin to 13.39%, up from 11.82% in the same period last year, aided by optimized management costs and operational efficiency improvements [3]. Future Outlook - The company anticipates continued revenue growth driven by a recovering industry sentiment, stabilization of order prices, and the gradual realization of overseas business opportunities [2]. - Profit forecasts for 2025-2027 are 149 million, 171 million, and 210 million yuan, with corresponding EPS of 1.55, 1.77, and 2.18 yuan, reflecting growth rates of 6.5%, 14.4%, and 23.1% respectively [3].

New Stock Issuance - New stock for Beikang Testing (920160) issued at a price of 6.70 on November 3, 2025[1] - New stock for Danna Biology (920009) issued at a price of 17.10 on November 3, 2025[1] Market Alerts - ST Zhongdi (000609) announced significant abnormal fluctuations on October 30, 2025[1] - Jiangbolong (301308) reported severe abnormal fluctuations on October 30, 2025[1] - Xiangnan Chip (300475) disclosed abnormal fluctuations on October 24, 2025[1] - Shangtai Technology (001301) announced abnormal fluctuations on November 3, 2025[1] - Hainan Development (002163) reported abnormal fluctuations on November 3, 2025[1] - Zhongrui Co., Ltd. (002374) disclosed abnormal fluctuations on November 3, 2025[1] - Fujian Jinsen (002679) announced abnormal fluctuations on November 3, 2025[1] - Yongxing Materials (002756) reported abnormal fluctuations on November 3, 2025[1] - Xinhongze (002836) disclosed abnormal fluctuations on November 3, 2025[1] - Guocheng Mining (000688) announced abnormal fluctuations on November 3, 2025[1]

证券日报网讯 10月31日晚间，诺思格发布公告称，公司股票于2025年10月29日、2025年10月30日、 2025年10月31日连续三个交易日收盘价格涨幅偏离值累计超过30%，属于股票交易异常波动的情况。经 核实，公司前期披露的信息不存在需要更正、补充之处；公司未发现近期公共传媒报道了可能或已经对 本公司股票交易价格产生较大影响的未公开重大信息；近期公司经营情况及内外部经营环境未发生重大 变化。 （编辑 任世碧） ...

Core Viewpoint - The stock of Norsg has experienced an abnormal trading fluctuation, with a cumulative closing price increase exceeding 30% over three consecutive trading days from October 29 to October 31, 2025 [1] Summary by Relevant Sections - **Stock Trading Fluctuation** - Norsg's stock price has shown a significant increase, leading to a classification of abnormal trading activity according to Shenzhen Stock Exchange regulations [1] - **Company Verification** - The company's board confirmed that there are no corrections or supplements needed for previously disclosed information, and no significant changes in the company's operational situation or external environment [1] - **Insider Trading** - During the period of abnormal trading fluctuations, the controlling shareholders and actual controllers did not engage in buying or selling the company's stock [1] - **Investor Advisory** - The company has reminded investors to be cautious and to invest rationally, emphasizing that there are no undisclosed significant matters that could impact the stock price [1]

Core Insights - The medical services sector experienced a rise of 1.67% on October 31, with Haitai Biological leading the gains [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Medical Services Sector Performance - Haitai Biological (300683) closed at 34.46, up 11.20% with a trading volume of 158,200 shares and a transaction value of 530 million [1] - Other notable performers included: - Nanmo Biological (688265) at 50.60, up 9.98% [1] - Nuo Si Ge (301333) at 68.59, up 7.00% [1] - Yangguang Nuohe (688621) at 58.75, up 5.10% [1] - *ST Biological (000504) at 9.57, up 5.05% [1] Capital Flow Analysis - The medical services sector saw a net inflow of 461 million from institutional investors, while retail investors experienced a net inflow of 918,230 [2] - Notable capital flows included: - Innovation Medical (002173) with a net inflow of 14.416 million from institutional investors [3] - Tai Ge Medical (300347) with a net inflow of 70.6534 million from institutional investors [3] - Zhaoyan New Drug (603127) with a net inflow of 53.6731 million from institutional investors [3]

一、股票交易异常波动的具体情况 诺思格（北京）医药科技股份有限公司（以下简称"公司"） 股票于 2025 年 10 月 29 日、2025 年 10 月 30 日、2025 年 10 月 31 日连续三个交易日收盘价 格涨幅偏离值累计超过 30%，根据《深圳证券交易所交易规则》的相关规定，属 于股票交易异常波动的情况。 二、说明关注、核实情况 证券代码：301333 证券简称：诺思格 公告编号：2025-049 诺思格（北京）医药科技股份有限公司 股票交易异常波动公告 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。 三、不存在应披露而未披露信息的说明 本公司董事会确认，本公司目前没有任何根据《深圳证券交易所创业板股票 上市规则》等有关规定应予以披露而未披露的事项或与该事项有关的筹划、商谈、 意向、协议等；董事会也未获悉本公司有根据《深圳证券交易所创业板股票上市 规则》等有关规定应予以披露而未披露的、对本公司股票及其衍生品种交易价格 产生较大影响的信息；公司前期披露的信息不存在需要更正、补充之处。 四、风险提示 针对公司股票交易异常波动情况，公司董事会对公司、控 ...