Core Viewpoint - The company is closely monitoring AI technology and has developed its own AI platform to enhance the efficiency of pharmaceutical research outsourcing services [1] Group 1 - The company is actively engaged in the development of AI technology [1] - The AI platform aims to improve the efficiency of its services in the pharmaceutical research outsourcing sector [1]

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]

Core Viewpoint - The company announced that its stock experienced an abnormal fluctuation, with a cumulative closing price increase of over 30% over three consecutive trading days from October 29 to October 31, 2025 [1] Summary by Relevant Sections - **Stock Performance** The stock price of the company showed a significant increase, with a cumulative rise exceeding 30% over three consecutive trading days [1] - **Company Disclosure** The company confirmed that there were no corrections or supplements needed for previously disclosed information, and no undisclosed significant information that could impact stock trading prices was found in recent media reports [1] - **Operational Status** The company stated that there have been no significant changes in its operational situation or external business environment recently [1]

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 ...

证券代码：301333 证券简称：诺思格 公告编号：2025-048 诺思格（北京）医药科技股份有限公司 2025 年员工持股计划第一次持有人会议决议公告 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 整，没有虚假记载、误导性陈述或重大遗漏。 一、持有人会议召开情况 诺思格（北京）医药科技股份有限公司（以下简称"公司"）2025年员工持 股计划第一次持有人会议（以下简称"本次会议"）于2025年10月31日在公司会 议室以现场结合通讯方式召开。本次会议由董事会秘书李树奇先生主持。出席本 次会议的持有人共35人，代表2025年员工持股计划份额1,499.9904万份，占公司 2025年员工持股计划已认购总份额的100%。会议的召集、召开和表决程序符合 相关法律法规、规范性文件及公司《2025年员工持股计划（草案）》《2025年员工 持股计划管理办法》的规定。 二、持有人会议审议情况 表决结果：同意 1,499.9904 万份，占出席持有人会议的持有人所持份额总数 的 100%，反对 0 份，弃权 0 份。 为保证员工持股计划的顺利进行，保障持有人的合法权益，根据公司《2025 年员工持股计划管理办法》 ...

Core Viewpoint - The company reported steady revenue growth and exceeded profit expectations in Q3 2025, driven by a low base from the previous year and a higher number of project settlements [1][2][3]. Financial Performance - For the first three quarters of 2025, the company achieved revenue of 607 million, a year-on-year increase of 8.09%, and a net profit attributable to shareholders of 96 million, up 13.21%. The net profit after deducting non-recurring items was 81 million, reflecting a growth of 22.47% [1]. - In Q3 2025 alone, the company recorded revenue of 228 million, representing a year-on-year growth of 24.48%. The net profit attributable to shareholders was 34 million, up 32.98%, while the net profit after deducting non-recurring items reached 30 million, marking a significant increase of 52.69% [2]. - The gross profit margin for the first three quarters was 35.61%, down 3.58 percentage points year-on-year, while the net profit margin increased by 0.65 percentage points to 15.94%. Management and sales expense ratios improved, with management expenses at 10.07% (down 5.11 percentage points) and sales expenses at 1.66% (down 0.24 percentage points) [2]. Industry Outlook - The onset of a rate-cutting cycle by the Federal Reserve, with a 25 basis point cut in September 2025 and expectations for further cuts, is anticipated to gradually revive investment and financing, benefiting the clinical CRO sector [3]. - The introduction of domestic innovative drug support policies is expected to favor local clinical CROs, positioning the company for rapid growth opportunities [3]. Profit Forecast and Investment Recommendation - Revenue projections for 2025-2027 are estimated at 776 million, 852 million, and 969 million, with year-on-year growth rates of 4.33%, 9.75%, and 13.79%, respectively. Net profit attributable to shareholders is forecasted at 150 million, 163 million, and 181 million, with growth rates of 6.85%, 8.83%, and 11.26% [3]. - The company is assigned a "buy" rating with corresponding price-to-earnings ratios of 33, 31, and 28 for the years 2025, 2026, and 2027 [3].

Core Viewpoint - Norsg achieved a daily limit increase of 20.00%, with a turnover rate of 16.62% and a transaction volume of 558 million yuan, indicating strong market interest and activity in the stock [2] Trading Activity - Institutional investors net bought 66.92 million yuan, while brokerage seats collectively net sold 28.46 million yuan on the same day [2] - The top five trading departments accounted for a total transaction volume of 147 million yuan, with a net buying amount of 38.46 million yuan [2] - Specific institutional buying included amounts of 27.01 million yuan, 20.58 million yuan, 19.03 million yuan, and 12.40 million yuan from various specialized seats [2] Fund Flow - The stock saw a net inflow of 66.37 million yuan from major funds, with a significant inflow of 74.26 million yuan from large orders, while smaller orders experienced a net outflow of 7.89 million yuan [2] - Over the past five days, the net inflow of major funds totaled 74.31 million yuan, indicating a positive trend in investor sentiment [2]