Group 1 - The company, Norsg (Beijing) Pharmaceutical Technology Co., Ltd., has attracted significant attention in the industry, as evidenced by recent investor relations activities [1] - The investor relations activity was a targeted research event held from August 28 to September 11, 2025, with participation from over 50 securities, fund, and asset management institutions [2] - Key personnel from the company included Chairman and General Manager Wu Jie, Board Secretary and Vice General Manager Li Shuq, and Chief Financial Officer Zhao Qian [2] Group 2 - Order situation in August 2025 remained stable compared to the previous year and has begun to recover, correlating with the rebound in the Hong Kong biopharmaceutical sector [3] - The company's SMO business covers major cities in China with a workforce of approximately 1,500, focusing on long-term foreign enterprise clients while ensuring profit margins [3] - Gross margin is recovering due to controlled price decline in the industry and improved personnel efficiency, with potential for further increase if prices rise [3] - The first half of 2025 saw strong momentum in innovative drugs, driven by the recovery of the Hong Kong stock market and a prosperous overseas market [3] - New order volume in the first half of 2025 was comparable to the previous year, with slight increases in contract amounts and service fees [3] - The pricing for overseas statistical orders remains stable, while domestic statistical business prices are expected to stabilize and potentially recover [3] - The clinical trial hotspots include ADC, CAR-T, PD-1, and cell therapy products, with GLP-1 being a popular area [3] - The industry is witnessing increased investment in high-quality products and projects, with the company potentially benefiting from the recognition of Chinese data by multinational corporations [3]

Group 1: Market Trends and Order Situation - The CRO industry is showing signs of recovery, with an increase in order volume and stabilization of prices, particularly in August 2025, which is consistent with the rebound in the Hong Kong biopharmaceutical market [1][2] - The SMO business has expanded to major cities in China, with a workforce of approximately 1,500, focusing on long-term foreign clients for higher order ratios and reasonable profit margins [2] - The gross profit margin is expected to improve due to controlled price declines and the application of refined management and AI technology, which enhances personnel efficiency [2] Group 2: Client and Order Characteristics - Growth in new clients is primarily seen in innovative drug companies, driven by a strong market recovery in Hong Kong and overseas, shifting from a funding-driven model to a more rational investment approach [2] - The volume and pricing of new orders in the first half of 2025 remained stable compared to the previous year, with slight growth in contract amounts and service fees [3] - The statistical business's gross profit margin decreased due to price reductions in domestic clinical and statistical services, but overseas orders remained stable [3] Group 3: Investment and Market Dynamics - The recovery in the secondary market and active BD transactions positively influence primary market financing, reflected in increased client confidence and a rise in financing activities [3] - Current hot areas in clinical trials include ADC, CAR-T, PD-1, and GLP-1 therapies, indicating a diversification in treatment methods and targets [3] - There is a noticeable increase in industry investment, with a shift from reduced investment over the past year to heightened interest in high-quality products and projects [3] Group 4: International Collaboration and Future Outlook - MNCs are increasingly recognizing the value of data generated by Chinese CROs, which may lead to continued collaboration in global projects [4] - The expansion into overseas markets is beneficial for the company, indicating a positive outlook for future growth [4]

Group 1 - Norsg's stock price increased by 5.35% on September 10, reaching 61.80 CNY per share, with a trading volume of 263 million CNY and a turnover rate of 7.73%, resulting in a total market capitalization of 5.969 billion CNY [1] - The stock has risen for eight consecutive days, with a cumulative increase of 13.95% during this period [1] - Norsg (Beijing) Pharmaceutical Technology Co., Ltd. specializes in clinical trial operation services, clinical trial site management services, biological sample testing services, data management and statistical analysis services, clinical trial consulting services, and clinical pharmacology services [1] Group 2 - The East Finance Growth Mixed Fund A (018088) holds 12,400 shares of Norsg, accounting for 4.85% of the fund's net value, making it the fifth-largest holding [2] - The fund has generated a floating profit of approximately 38,900 CNY today and 89,000 CNY during the eight-day rising period [2] - The fund was established on April 11, 2023, with a latest scale of 9.6956 million CNY and has achieved a year-to-date return of 47.97% [2]

证券之星消息，9月11日医疗服务板块较上一交易日下跌0.77%，诺思格领跌。当日上证指数报收于 3875.31，上涨1.65%。深证成指报收于12979.89，上涨3.36%。医疗服务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) | | --- | --- | --- | --- | --- | --- | | 301267 | 生庫服科 | 21.98 | 6.29% | 23.40万 | 5.10亿 | | 301239 | 音瑞眼科 | 39.36 | 3.31% | 5.20万 | 2.05亿 | | 300015 | 爰尔眼科 | 13.12 | 2.90% | 160.44万 | 20.81亿 | | 688265 | 南模生物 | 56.06 | 2.60% | 1.42万 | 7885.85万 | | 301096 | 百诚医药 | 62.92 | 2.38% | 5.18万 | 3.20 Z | | 688238 | 和元生物 | 7.94 | 2.06% | 22.34万 | 1.74亿 | | 600568 | ST中珠 | 2.0 ...

Core Viewpoint - A proposed executive order from the Trump administration is causing significant turmoil in the biopharmaceutical market, with major declines in stock prices for several companies [1][6]. Market Reaction - In the A-share market, companies such as Nossger, Huyou Pharmaceutical, and Tigermed saw declines exceeding 5%, with others like Yaoshi Technology and WuXi AppTec also following suit [1][2]. - The Hong Kong market's innovative drug concept index initially dropped over 7%, later narrowing to a 4.39% decline by midday [2]. Proposed Policy Impact - The New York Times reported that the proposed policy would require the FDA to conduct stricter reviews of clinical trial data from China, with companies submitting such data facing higher regulatory fees [3]. - If implemented, these restrictions could disrupt the U.S. pharmaceutical industry and affect the supply of all types of drugs, from generics to advanced therapies [6]. Industry Concerns - Analysts express that this "black swan" event could lead to a global supply chain restructuring, similar to the trade war during Trump's first term [7]. - The potential for drug shortages and rising prices in the U.S. market is a significant concern, particularly for generic drugs [7]. Investment Sentiment - Investor sentiment is divided, with some viewing the situation as a short-term emotional shock, while others worry that the end of the U.S. market could signal the end of the Chinese innovative drug bull market [9]. - Historical data suggests that after similar events, the pharmaceutical sector typically experiences a rebound within 2-4 weeks, with potential gains of 15%-20% [9].

9月10日，诺思格盘中上涨2.05%，截至11:14，报59.86元/股，成交1.46亿元，换手率4.35%，总市值 57.81亿元。 资金流向方面，主力资金净流入394.35万元，特大单买入386.55万元，占比2.64%，卖出307.31万元，占 比2.10%；大单买入3423.82万元，占比23.41%，卖出3108.72万元，占比21.26%。 截至6月30日，诺思格股东户数1.04万，较上期增加2.06%；人均流通股5486股，较上期减少1.97%。 2025年1月-6月，诺思格实现营业收入3.80亿元，同比增长0.18%；归母净利润6111.61万元，同比增长 4.45%。 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6月30日，诺思格十大流通股东中，香港中央结算有限公司位居第七大流通 股东，持股82.89万股，为新进股东。中庚价值灵动灵活配置混合（007497）位居第九大流通股东，持 股67.88万股，为新进股东。中庚价值领航混合（006551）位居第十大流通股东，持股60.40万股，为新 进股东。易方达医疗保健行业混合A（110023）、易方达医药生物股 ...

Group 1 - The report outlines the sponsorship work conducted by China International Capital Corporation (CICC) for Norska (Beijing) Pharmaceutical Technology Co., Ltd, confirming timely review of company disclosure documents and adherence to regulations [1] - CICC has conducted monthly checks on the company's fundraising special account and confirmed that the progress of fundraising projects aligns with disclosed information [1] - The report indicates that there was one instance of litigation involving an amount of 179,898,176.00 yuan, with the case now concluded without significant adverse effects on the company's operations or financial status [1][3] Group 2 - CICC has identified issues related to internal controls over R&D investments, revenue recognition, and procurement management, leading to a written warning from the Shenzhen Stock Exchange [3] - The company has actively pursued corrective measures in response to the regulatory actions taken against it [3]

整，没有虚假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 证券代码：301333 证券简称：诺思格 公告编号：2025-038 诺思格（北京）医药科技股份有限公司 本公司及董事会全体成员保证信息披露内容的真实、准确、完 诺思格（北京）医药科技股份有限公司（以下简称"公司"）第五届董事会 第十三次会议（以下简称"本次会议"）于2025年9月5日在公司会议室以现场结 合通讯方式召开。会议通知已于2025年8月29日以电子邮件及专人送达等方式送 达全体董事。本次会议应出席董事9人，实际出席董事9人。会议由董事长WU JIE （武杰）先生主持，会议的召开符合有关法律、法规、规章和《诺思格（北京） 医药科技股份有限公司章程》（以下简称《公司章程》）的规定。 二、董事会会议审议情况 （一）审议通过《关于 <公司2025年员工持股计划 草案="草案"> 及其摘要的议 案》 表决情况：9票同意；0票弃权；0票反对。 为建立和完善员工、股东的利益共享机制，改善公司治理水平，提高核心团 队的凝聚力和公司竞争力，调动员工的积极性和创造性，促进公司长期、持续、 健康发展，公司依据《中华人民共和国公司法》 （以下简称" 《公司 ...

《公 司 2025 年员工持股计划（草案） 诺思格（北京）医药科技股份有限公司（以下简称"公司"）于 2025 年 9 月 5 日召开第四届监事会第十次会议。根据《关于上市公司实施员工持股计划试 点的指导意见》（以下简称"《指导意见》"）、《深圳证券交易所上市公司自律 监管指引第 2 号——创业板上市公司规范运作》 （以下简称"《自律监管指引》"） 等相关法律、法规及规范性文件的规定，经认真审阅相关会议资料及全体监事充 分讨论，现就公司 2025 年员工持股计划（以下简称"本员工持股计划"）相关事 项发表审核意见如下： 《自律监管指引》等法律、法规及规范性文件规 定的禁止实施员工持股计划的情形。 诺思格（北京）医药科技股份有限公司监事会 关于公司 2025 年员工持股计划相关事项的审核意见 》内容符合《指导意见》《自律监管指引》等法 律、法规及规范性文件的规定。 公司及全体股东利益的情形，亦不存在摊派、强行分配等方式强制员工参与本员 工持股计划的情形，不存在公司向员工持股计划持有人提供贷款、贷款担保或任 何其他财务资助的计划或安排。 机制，有利于进一步完善公司治理水平，提高员工的凝聚力和公司竞争力，充分 调动 ...

Group 1 - The company held its 10th meeting of the 4th Supervisory Board on September 5, 2025, with all three supervisors present, complying with relevant laws and regulations [1] - The Supervisory Board approved the proposal for the 2025 Employee Stock Ownership Plan (ESOP), with a unanimous vote of 3 in favor [2] - The 2025 ESOP aims to enhance the company's governance structure, attract and retain talent, and align the interests of the core team with the company's long-term development goals [2][3] Group 2 - The management measures for the 2025 ESOP were also approved, ensuring the plan's smooth implementation and compliance with regulations [3] - The management measures are designed to create a balanced value distribution system, contributing to the company's sustainable development [3] - Both proposals will be submitted for approval at the company's upcoming shareholders' meeting [2][3]