Group 1: Company Performance - The significant growth in Q1 2025 performance is attributed to enhanced service capabilities, increased R&D investment, and concentrated order deliveries [2] - Future performance may experience volatility due to macroeconomic factors, industry developments, and trade policy uncertainties [2] Group 2: Impact of U.S. Tariff Policies - U.S. tariff policies may affect the company's overseas business, particularly as the company primarily exports products [3] - The company has developed specialized CDMO services and has a mature R&D, production, and sales system, which provides some resilience against tariff risks [3] Group 3: U.S. Production Base - The U.S. production base in Wisconsin has passed FDA cGMP inspections and focuses on GMP intermediates and API products [3] - Plans for 2025 include upgrading the Wisconsin facility to expand capacity and enhance service capabilities, leveraging its strategic location for business growth [3]

金凯（辽宁）生命科技股份有限公司 2024 年度持续督导跟踪报告 | 保荐人名称：中信建投证券股份有限公司 | 上市公司简称：金凯生科 | | --- | --- | | 保荐代表人姓名：逯金才 | 联系电话：010-5605 2488 | | 保荐代表人姓名：张林 | 联系电话：010-5605 1430 | 一、保荐工作概述 中信建投证券股份有限公司关于 三、公司及股东承诺事项履行情况 | 公司及股东承诺事项 | 是否履行承诺 | 未履行承诺的原因及解决措施 | | --- | --- | --- | | 首次公开发行时所做的承诺 | 是 | 不适用 | 四、其他事项 | 报告事项 | 说明 | | --- | --- | | 1.保荐代表人变更及其理由 | 不适用 | | 2.报告期内中国证监会和本所对保荐人或者其保 | （1）2024 年 1 月，中信建投证券因 | | 荐的公司采取监管措施的事项及整改情况 | 在保荐芯天下 IPO 项目过程中，未对发 | | | 行人所处市场情况及同行业可比公司 | | | 情况予以充分关注并核查发行人对终 | | | 端客户的销售情况，对发行人业绩预计 | | | ...

截至5月13日收盘，阿尔茨海默概念上涨1.74%，位居概念板块涨幅第5，板块内，24股上涨，华大基 因、迪安诊断、美年健康等涨幅居前，分别上涨14.55%、8.27%、6.72%。跌幅居前的有*ST双成、金凯 生科、联影医疗等，分别下跌4.96%、1.15%、0.80%。 今日涨跌幅居前的概念板块 | 代码 | 简称 | 今日涨跌幅 | 今日换手率 | 主力资金流量（万 | 主力资金净流入比率 | | --- | --- | --- | --- | --- | --- | | | | （%） | （%） | 元） | （%） | | 300676 | 华大基 因 | 14.55 | 5.13 | 12606.52 | 10.91 | | 000766 | 通化金 马 | 4.09 | 4.77 | 7912.36 | 9.04 | | 600789 | 鲁抗医 药 | 2.26 | 11.15 | 6213.39 | 5.96 | | 688068 | 热景生 物 | 2.40 | 3.98 | 3651.30 | 9.40 | | 002044 | 美年健 康 | 6.72 | 5.71 | 3326.88 ...

A股出海概念延续近期强势，服装、家居方向领涨，盛泰集团、皮阿诺、华纺股份、浙江正特、迎丰股 份涨停，美之高、太湖雪双双涨超20%，恒泰照明、有棵树、致欧科技、赛维时代涨超10%。 ...

Core Viewpoint - The overseas concept continues to show strong performance, particularly in the apparel and home furnishing sectors, with several stocks reaching their daily limit up [1] Group 1: Stock Performance - Sheng Tai Group, Pi'ano, Huafang Co., Zhejiang Zhengte, and Yingfeng Co. all hit the daily limit up [1] - Meizhi Gao and Taihu Xue both surged over 20% [1] - Hengtai Lighting, Youkeshu, Zhiou Technology, and Saiwei Times all increased by more than 10% [1]

Group 1 - The A-share cross-border e-commerce sector experienced a significant rise at the beginning of trading, with stocks such as Kuaishangtong and Shengtong Co. hitting the daily limit for gains [1] - Taihu Snow saw an increase of over 9%, indicating strong market interest and performance in the sector [1] - Other companies like Zhongfangbiao and Zhongbai Group also experienced upward movement, reflecting a broader positive trend in the cross-border e-commerce industry [1]

Market Overview - The Shanghai Composite Index is at 3305.11 points, above the annual line, with an increase of 0.80% [1] - The total trading volume of A-shares is 646.819 billion yuan [1] Stocks Breaking Annual Line - A total of 233 A-shares have surpassed the annual line today [1] - Notable stocks with significant deviation rates include: - Jinkai Biological Science and Technology (10.11%) - Disen Power (9.84%) - Hanbo High-tech (8.84%) [1] Stock Performance Details - The top stocks with their respective performance metrics are as follows: - Jinkai Biological: Price increased by 10.32%, turnover rate 13.55%, latest price 33.02 yuan [1] - Disen Power: Price increased by 10.04%, turnover rate 1.77%, latest price 4.93 yuan [1] - Hanbo High-tech: Price increased by 9.42%, turnover rate 3.54%, latest price 15.33 yuan [1] - Other notable stocks include: - Jiashitang (9.97%, 3.57%, 13.13 yuan) - Sanmu Group (9.94%, 7.78%, 3.54 yuan) [1] Additional Stocks with Minor Deviations - Stocks with smaller deviation rates that have just crossed the annual line include: - Yongqing Environmental Protection - Dongjian Technology - Aishide [1]

Group 1: Financial Performance - In 2024, the company achieved a revenue of 497.01 million yuan and a net profit of 38.61 million yuan, both showing a significant decline year-on-year [6][7] - In Q1 2025, the company reported a revenue of 176.34 million yuan and a net profit of 47.42 million yuan, indicating a substantial recovery due to prior adjustments and concentrated order deliveries [7] Group 2: Strategic Adjustments - The company has made strategic adjustments in response to adverse international trade policies, enhancing service capabilities and increasing R&D investments [2][3] - To mitigate risks from U.S. tariff policies, the company plans to upgrade its production base in Wisconsin, USA, by expanding capacity and improving service capabilities [3][10] Group 3: Environmental Commitment - In 2024, the company invested 41.50 million yuan in environmental protection, purchasing 14,925,000 kWh of green electricity, resulting in a reduction of CO2 emissions by 13,013,107.50 kg [4][5] Group 4: Market Outlook and Risks - The company acknowledges uncertainties in overseas business due to tariff policies, which may affect order acquisition and delivery cycles [5][8] - The global pharmaceutical market is expected to continue growing, with increasing demand for CDMO services, presenting potential growth opportunities for the company [8][13] Group 5: Shareholder Relations - The company emphasizes its commitment to protecting shareholder interests and will disclose any significant shareholding changes in accordance with regulations [8][13] - A cash dividend of 4 yuan per 10 shares is proposed for 2024, amounting to 48.18 million yuan, which exceeds the net profit for that year [13]

Summary of Key Points Core Viewpoint - The latest financing balance of the ChiNext market is 336.92 billion yuan, showing a decrease of 0.7 billion yuan compared to the previous period, with 19 stocks experiencing a financing balance growth of over 10% and 12 stocks seeing a decline of over 10% [1]. Financing Balance Overview - As of April 24, the ChiNext index fell by 0.68%, with a total margin balance of 337.83 billion yuan, down by 0.7 billion yuan from the previous trading day. The financing balance specifically is 336.92 billion yuan, a decrease of 0.7 billion yuan, while the securities lending balance is 91.3 million yuan, down by 3.22 million yuan [1]. - A total of 417 stocks saw an increase in financing balance, with 19 stocks increasing by more than 10%. The largest increase was observed in Changhua Chemical, with a financing balance of 54.14 million yuan, up by 29.08% [1][3]. Stocks with Increased Financing Balance - The stocks with significant financing balance increases include: - Changhua Chemical: 54.14 million yuan, +29.08%, closing price 19.90 yuan, +1.38% [3]. - Zhonghuan Hailu: 71.04 million yuan, +23.90%, closing price 21.61 yuan, -5.67% [3]. - Weihai De: 92.84 million yuan, +23.53%, closing price 29.20 yuan, -4.58% [3]. - The average increase for stocks with over 10% growth was 1.85%, with notable performers including Jinkai Biotechnology, Zhaomin Technology, and Haitai Technology, with increases of 16.88%, 14.03%, and 6.96% respectively [1][3]. Stocks with Decreased Financing Balance - A total of 520 stocks experienced a decrease in financing balance, with 12 stocks declining by more than 10%. The largest decrease was seen in Pulaide, with a financing balance of 19.71 million yuan, down by 24.07% [4]. - Other notable declines include: - Jingang Photovoltaic: 33.29 million yuan, -23.39% [4]. - Tianyuan Pet: 68.45 million yuan, -19.54% [4]. Capital Flow Insights - On April 24, among the stocks with increased financing balance, 12 stocks saw net inflows of main funds, with Jinkai Biotechnology leading at 137 million yuan, followed by Jinyang Co. at 66.30 million yuan and Shengyuan Environmental Protection at 32.23 million yuan [2]. - Conversely, 7 stocks experienced net outflows, with Zhaomin Technology leading at 129 million yuan, followed by New Aluminum Era at 74.46 million yuan and Hengbo Co. at 61.49 million yuan [2].