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]

Core Viewpoint - On February 2, a total of 7 listed companies had their restricted shares unlocked, with a total market value of approximately 43.65 billion yuan [1] Group 1: Company Specifics - Yunding Technology (Stock Code: 000409) had 4.0062 million shares released from equity incentive restrictions [1] - Jinling Pharmaceutical (Stock Code: 000919) had 220,800 shares released from equity incentive restrictions [1] - Dongfang Chuangye (Stock Code: 600278) had 531,600 shares released from equity incentive restrictions [1] - Xinda Securities (Stock Code: 601059) had 2.551 billion shares released from pre-issue share restrictions [1] - Nuo Si Ge (Stock Code: 301333) had 3.9288 million shares with extended lock-up periods released [1] - Jianghan New Materials (Stock Code: 603281) had 12.2 million shares released from pre-issue share restrictions [1] - Fu Er Jia (Stock Code: 301371) had 250,000 shares with extended lock-up periods released [1]

中国国际金融股份有限公司 关于诺思格（北京）医药科技股份有限公司 首次公开发行前已发行股份解除限售并上市流通的核查意见 中国国际金融股份有限公司（以下简称"中金公司"或"保荐机构"）作为诺思格 （北京）医药科技股份有限公司（以下简称"诺思格"或"公司"）的保荐机构，根据 《证券发行上市保荐业务管理办法》《深圳证券交易所创业板股票上市规则》《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》《深圳证券交易 所上市公司自律监管指引第 13 号——保荐业务》等有关法律、行政法规、部门规章及 业务规则的要求，对诺思格本次首次公开发行前已发行股份解除限售并上市流通进行了 认真、审慎核查，具体情况如下： 一、首次公开发行股票情况 （一）首次公开发行股票情况 经中国证券监督管理委员会《关于同意诺思格（北京）医药科技股份有限公司首次 公开发行股票注册的批复》（证监许可[2022]1185 号）同意注册，公司首次公开发行人 民币普通股（A 股）股票 1,500 万股，并于 2022 年 8 月 2 日在深圳证券交易所创业板 上市交易。公司首次公开发行前总股本为 45,000,000 股，首次公开发行后总 ...

证券代码：301333 证券简称：诺思格 公告编号：2026-004 诺思格（北京）医药科技股份有限公司 关于首次公开发行前已发行股份解除限售 并上市流通的提示性公告 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。 特别提示： 1、本次上市流通的限售股为诺思格（北京）医药科技股份有限公司（以下 简称"公司"）首次公开发行前已发行股份； 2、本次解除限售股东户数为 2 户，解除限售股份数量合计 39,268,800 股， 占公司总股本的 40.66%，限售期均为自公司首次公开发行股票并上市之日起 42 个月； 3、本次解除限售的股份上市流通日期为 2026 年 2 月 2 日（星期一）。 一、公司股票发行和股本变动情况 （一）首次公开发行股票情况 经中国证券监督管理委员会《关于同意诺思格（北京）医药科技股份有限公 司首次公开发行股票注册的批复》（证监许可[2022]1185 号）同意注册，公司首 次公开发行人民币普通股（A 股）股票 15,000,000 股，并于 2022 年 8 月 2 日在 深圳证券交易所创业板上市交易。公司首次公开发行前总股本为 45,0 ...

Group 1 - The core viewpoint of the news is that Norsg (Beijing) Pharmaceutical Technology Co., Ltd. experienced a decline in stock price and significant trading activity, indicating high investor interest and potential volatility in the market [1][2]. Group 2 - On January 26, Norsg's stock price fell by 3.71%, with a trading volume of 214 million yuan. The financing buy-in amount was 23.10 million yuan, while the financing repayment was 22.31 million yuan, resulting in a net financing buy of 797,000 yuan [1]. - As of January 26, the total balance of margin trading for Norsg was 119 million yuan, accounting for 2.92% of its circulating market value, which is above the 90th percentile level over the past year [1]. - In terms of securities lending, on January 26, Norsg repaid 800 shares and sold 600 shares, with a selling amount of 42,500 yuan. The remaining securities lending balance was 3,800 shares, with a total balance of 269,300 yuan, also above the 90th percentile level over the past year [1]. Group 3 - Norsg was established on August 22, 2008, and went public on August 2, 2022. Its main business includes 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 [2]. - The revenue composition of Norsg's main business is as follows: clinical trial operation services (39.25%), clinical trial site management services (34.10%), data management and statistical analysis services (13.30%), biological sample testing services (8.45%), clinical pharmacology services (3.74%), and clinical trial consulting services (1.16%) [2]. - As of September 30, 2025, Norsg achieved an operating income of 607 million yuan, representing a year-on-year growth of 8.09%, and a net profit attributable to shareholders of 95.57 million yuan, with a year-on-year increase of 13.21% [2]. Group 4 - Since its A-share listing, Norsg has distributed a total of 49.50 million yuan in dividends [3]. - As of September 30, 2025, the number of shareholders of Norsg was 8,734, a decrease of 16.18% from the previous period, while the average circulating shares per person increased by 19.30% to 6,545 shares [2][3]. - Among the top ten circulating shareholders, Nuoan Pioneer Mixed A (320003) ranked as the sixth largest shareholder with 1.68 million shares, while Hong Kong Central Clearing Limited ranked as the tenth largest shareholder with 690,400 shares, a decrease of 138,500 shares from the previous period [3].

Core Viewpoint - The medical services sector experienced a rise of 1.19% on January 23, with notable gains from companies like Nuohua Zhiyuan, which led the sector's performance [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 4136.16, up 0.33%, while the Shenzhen Component Index closed at 14439.66, up 0.79% [1]. - The medical services sector saw significant individual stock movements, with Nuohua Zhiyuan (688315) closing at 17.00, up 13.26%, and Hai Te Biological (300683) closing at 33.31, up 7.66% [1]. Group 2: Trading Volume and Value - Nuohua Zhiyuan had a trading volume of 219,500 shares and a transaction value of 365 million yuan [1]. - Hai Te Biological recorded a trading volume of 190,900 shares with a transaction value of 632 million yuan [1]. Group 3: Capital Flow - The medical services sector saw a net inflow of 999.1 million yuan from institutional investors, while retail investors experienced a net outflow of 1.069 billion yuan [2]. - The capital flow data indicates that major stocks like Diyan Diagnosis (300244) had a net inflow of 288 million yuan from institutional investors [3].

Group 1 - The company, Norse Group (301333), stated that it cannot disclose specific information due to confidentiality agreements signed with clients [1]

Group 1 - The AI healthcare and AI pharmaceutical sectors experienced significant fluctuations, with notable declines in stock prices [1] - Hongbo Pharmaceutical saw a drop of over 18%, while Nossger fell nearly 15% [1] - Other companies such as International Medicine, Boji Pharmaceutical, Jiahe Meikang, and Berry Genomics also reported declines exceeding 5% [1]

Group 1 - The CRO index experienced a decline of 2.66% during intraday trading, with all constituent stocks showing a downward trend [1] - Hongbo Pharmaceutical led the decline with a drop of 19%, followed by Nossig at 9.65%, Yinos at 15%, Chengdu XianDao at 5%, and Boji Pharmaceutical at 4% [1]

证券代码：301333 证券简称：诺思格 公告编号：2026-003 诺思格（北京）医药科技股份有限公司 4、公司、控股股东和实际控制人不存在关于本公司的应披露而未披露的重 大事项，或处于筹划阶段的重大事项； 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。 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 2026 年 1 月 13 日、2026 年 1 月 14 日连续两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 针对公司股票交易异常波动情况，公司董事会对公司、控股股东及实际控制 人就相关事项进行了核实，现将有关情况说明如下： 1、公司前期披露的信息不存在需要更正、补充之处； 2、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； 3、近期公司经营情况及内外部经营环境未发生重大变化； 5、公司控股股东和实际控制人在股票交易异常波动期间未买卖公司股票。 三、 ...