公司实际控制人冯宇霞、周志文在2024年因未及时披露持股变动被监管警示，且近期有减持行为。2026 年1月，减持计划尚未结束，后续变动可能对股权结构产生影响。 经济观察网 昭衍新药（603127.SH、06127.HK）近期发布业绩预告，预计2025年归属净利润同比大增， 但营收预计下滑。公司实际控制人减持计划仍在进行，实验猴价格上涨持续影响公司利润。公司新设施 陆续投用，外部政策环境变化带来长期不确定性。 业绩经营情况 公司已于2026年1月20日发布业绩预告，预计2025年归属净利润为2.33亿元至3.49亿元，同比增幅214% 至371%，但营业收入预计同比下降13.9%至22.1%。业绩变动主要受生物资产（如实验猴）公允价值上 升驱动，而实验室服务业务利润贡献下降。投资者可关注后续正式年报的披露细节，以评估业务实际表 现。 高管变动 昭衍新药在广州的实验设施已进入竣工验收阶段，苏州设施于2025年7月通过CMA认证。新基地投产后 可能提升服务能力，但需关注订单转化效率。 政策监管 美国《生物安全法案》（纳入2026财年国防授权法案）设有五年缓冲期，短期对中国CXO企业影响有 限，但长期地缘政治风险仍需 ...

Group 1 - The Hong Kong pharmaceutical outsourcing sector experienced a strong rally on February 10, with several companies seeing significant stock price increases [1] - Zhaoyan New Drug (06127.HK), WuXi Biologics (02269.HK), and Via Biotechnology (01873.HK) all rose by over 3% [1] - Tigermed (03347.HK), WuXi AppTec (02359.HK), and Kelun Pharmaceutical (06821.HK) each saw their stock prices increase by more than 2.5% [1]

Group 1 - The Hong Kong pharmaceutical outsourcing sector has shown strong fluctuations, with companies such as Zhaoyan New Drug (06127.HK), WuXi Biologics (02269.HK), and Via Biotechnology (01873.HK) all rising over 3% [1] - Other companies like Tigermed (03347.HK), WuXi AppTec (02359.HK), and Kelun Pharmaceutical (06821.HK) have also experienced increases of more than 2.5% [1]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 第 1 頁 共 11 頁 v 1.2.0 致：香港交易及結算所有限公司 公司名稱: 北京昭衍新藥研究中心股份有限公司 呈交日期: 2026年2月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06127 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 118,995,206 | RMB | | 1 RMB | | 118,995,206 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 118,995,206 | RMB | | 1 RMB | | 118,995,206 | | 2. 股份 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 北京昭衍新藥研究中心股份有限公司 呈交日期: 2026年2月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06127 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 118,995,206 | RMB | | 1 RMB | | 118,995,206 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 118,995,206 | RMB | | 1 RMB | | 118,995,206 | | 2. 股份分類 | 普通股 | 股份類別 | A | ...

Group 1 - The core point of the news is that Zhaoyan New Drug's stock price increased by 5.08% to 37.68 CNY per share, with a trading volume of 424 million CNY and a turnover rate of 1.81%, resulting in a total market capitalization of 28.235 billion CNY [1] - Zhaoyan New Drug Research Center Co., Ltd. specializes in non-clinical safety evaluation services for drugs, with its main business revenue composition being 95.59% from non-clinical research services, 4.34% from clinical services, and 0.07% from experimental model supply [1] - The company was established on February 25, 1998, and went public on August 25, 2017, located in Beijing Economic and Technological Development Zone [1] Group 2 - Among the top ten circulating shareholders of Zhaoyan New Drug, Huabao Fund's Huabao CSI Medical ETF (512170) reduced its holdings by 2.1693 million shares in the third quarter, now holding 12.4838 million shares, which accounts for 1.67% of the circulating shares [2] - The estimated floating profit from Huabao CSI Medical ETF's investment in Zhaoyan New Drug is approximately 22.7206 million CNY [2] - Huabao CSI Medical ETF was established on May 20, 2019, with a current scale of 25.263 billion CNY, yielding 2.53% this year and 12.04% over the past year [2]

Group 1 - The core point of the news is that Zhaoyan New Drug's stock price dropped by 5.05% to 36.09 CNY per share, with a trading volume of 569 million CNY and a turnover rate of 2.45%, resulting in a total market capitalization of 27.044 billion CNY [1] - Zhaoyan New Drug Research Center Co., Ltd. specializes in non-clinical safety evaluation services for drugs, with its main business revenue composition being 95.59% from non-clinical research services, 4.34% from clinical services, and 0.07% from experimental model supply [1] - The company was established on February 25, 1998, and was listed on August 25, 2017, located in Beijing Economic and Technological Development Zone [1] Group 2 - Among the top ten circulating shareholders of Zhaoyan New Drug, Huabao Fund's Huabao CSI Medical ETF (512170) reduced its holdings by 2.1693 million shares in the third quarter, now holding 12.4838 million shares, which accounts for 1.67% of the circulating shares [2] - The estimated floating loss for Huabao CSI Medical ETF today is approximately 23.9689 million CNY [2] - The fund was established on May 20, 2019, with a current scale of 25.263 billion CNY, and has achieved a year-to-date return of 4.77% and a one-year return of 14.49% [2]

Core Viewpoint - The actual controller of Zhaoyan New Drug, Zhou Zhiwen, has terminated his plan to reduce shareholdings in the company, having sold a total of 14,979,000 shares within a specified period, resulting in significant cash proceeds. Group 1: Shareholding and Reduction Plan - Zhou Zhiwen held 74,725,981 shares before the reduction plan, representing 9.9704% of the total share capital [1] - The reduction plan was first disclosed on December 30, 2025, allowing for a maximum reduction of 14,980,000 shares, which is 20.0466% of his holdings and 1.99873% of the total share capital [1] - The actual reduction occurred from January 22 to January 28, 2026, with a total of 14,979,000 shares sold [2] Group 2: Financial Details of the Reduction - The shares were sold at a price range of 34.78 to 42.19 yuan per share, resulting in total proceeds of 567,606,657.9 yuan [1][2] - The reduction was completed with only 1,000 shares remaining unsold, achieving a reduction ratio of 1.99894% [2] - Following the reduction, Zhou Zhiwen's remaining shareholding is 59,746,981 shares, which is 7.9732% of the total share capital [2] Group 3: Historical Context - Since November 5, 2020, Zhou Zhiwen has cumulatively reduced his holdings by 14,113,200 shares, realizing approximately 915 million yuan in cash [2] - The actual controllers of Zhaoyan New Drug are identified as Feng Yuxia and Zhou Zhiwen, a couple [3]

智通财经APP讯，昭衍新药(06127)公布，公司实际控制人之一周志文于 2025 年 12 月 30 日披露了减持 计划，自减持计划公告之日起 15 个交易日后的 3 个月内通过上海证券交易所以集中竞价或大宗交易的 方式减持不超过1498万股,不超过其持有股份的 20.0466%，不超过公司当时总股本的 1.99873%。截至 2026 年 1 月 29 日，周志文以大宗交易及集中竞价交易的方式减持公司 A 股股份1497.9万股，并决定提 前终止减持计划。 ...

Core Viewpoint - The company, Zhaoyan New Drug (603127), announced a share reduction plan by its actual controller, Zhou Zhiwen, which involves selling up to 14.98 million shares, representing 20.0466% of his holdings and 1.99873% of the company's total share capital [1] Summary by Relevant Sections - **Share Reduction Plan**: Zhou Zhiwen disclosed a plan to reduce his holdings starting from December 30, 2025, allowing for a period of three months post-announcement to sell shares through the Shanghai Stock Exchange [1] - **Execution of the Plan**: As of January 29, 2026, Zhou Zhiwen successfully reduced his holdings by 14.979 million shares through block trades and competitive bidding, and subsequently decided to terminate the reduction plan ahead of schedule [1]