Group 1 - The core viewpoint of the news highlights the stock performance and financial metrics of Zhaoyan New Drug, indicating a 99.22% increase in stock price year-to-date, with a recent slight decline in the last five and twenty trading days [1][2] - As of September 30, 2025, Zhaoyan New Drug reported a revenue of 985 million yuan, a year-on-year decrease of 26.23%, while the net profit attributable to shareholders increased by 214.79% to 80.71 million yuan [2] - The company has a market capitalization of 24.785 billion yuan and has seen significant trading activity, with a net inflow of 1.4684 million yuan from major funds [1] Group 2 - Zhaoyan New Drug's main business involves non-clinical safety evaluation services for drugs, accounting for 95.59% of its revenue, with clinical services and experimental model supply making up the remainder [1] - The company has distributed a total of 703 million yuan in dividends since its A-share listing, with 356 million yuan distributed in the last three years [3] - The number of shareholders increased by 57.61% to 96,500 as of September 30, 2025, indicating growing interest in the stock [2]

Investment Rating - The investment rating for the company is "Accumulate" with a target price of 39.59 CNY [5][10]. Core Insights - The company's performance is under short-term pressure, but new orders are improving, indicating potential for recovery in profitability [2][10]. - The overall order backlog as of Q1-Q3 2025 is 2.5 billion CNY, with new orders amounting to 1.64 billion CNY, reflecting a year-on-year increase of 17.1% [10]. - The company is focusing on expanding its client base, particularly large clients, with significant increases in project signings in various therapeutic areas [10]. Financial Summary - Total revenue for 2023 is projected at 2,376 million CNY, with a decline to 1,525 million CNY in 2025, representing a 24.4% decrease [3][11]. - Net profit attributable to shareholders is expected to drop significantly from 397 million CNY in 2023 to 121 million CNY in 2025, a decrease of 63.0% [3][11]. - Earnings per share (EPS) is forecasted to be 0.16 CNY in 2025, down from 0.53 CNY in 2023 [3][11]. Order Trends - The company has seen a positive trend in new orders, with Q3 2025 alone contributing approximately 620 million CNY in new contracts, a 24.0% increase year-on-year [10]. - The signing of antibody projects has increased by 20%, and projects in small nucleic acids and ADCs have seen over a 50% increase in signings [10]. Capacity and Quality Improvements - The company is steadily advancing its capacity, with new facilities in Suzhou and Guangzhou nearing completion [10]. - The company has successfully passed FDA GLP inspections, enhancing its competitive position in the industry [10].

| 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 | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 603127 | 說明 | | ...

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: 2025年10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: 2025年11月5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 ...

Core Viewpoint - Zhaoyan New Drug (603127) experienced a stock price increase of over 4%, reaching HKD 21.66 with a trading volume of HKD 209 million, following the announcement of its financial results for the first three quarters of 2025 [1] Financial Performance - The company reported a revenue of RMB 985 million for the first three quarters of 2025, representing a year-on-year decrease of 26.23% [1] - The net profit attributable to the parent company was RMB 80.71 million, a significant improvement compared to a loss of RMB 70.31 million in the same period last year [1] Order Status - The total new signed orders amounted to approximately RMB 1.64 billion for the first three quarters [1] - As of the end of the reporting period, the total backlog of orders stood at around RMB 2.5 billion [1]

Core Viewpoint - Zhaoyan New Drug (06127) experienced a stock price increase of over 4%, reaching HKD 21.66 with a trading volume of HKD 209 million [1] Financial Performance - For the first three quarters of 2025, the company reported operating revenue of RMB 985 million, a year-on-year decrease of 26.23% [1] - The net profit attributable to the parent company was RMB 80.71 million, compared to a loss of RMB 70.31 million in the same period last year [1] Order Status - The total new signed orders amounted to approximately RMB 1.64 billion for the first three quarters [1] - As of the end of the reporting period, the total backlog of orders stood at approximately RMB 2.5 billion [1]

Core Insights - Zhaoyan New Drug's stock increased by 5.12% to 37.18 CNY per share, with a trading volume of 999 million CNY and a turnover rate of 4.41%, resulting in a total market capitalization of 27.866 billion CNY [1] Company Overview - Beijing Zhaoyan New Drug Research Center Co., Ltd. was established on February 25, 1998, and listed on August 25, 2017. The company primarily focuses on non-clinical safety evaluation services for drugs and sales of preclinical research services and laboratory animals [1] - The main revenue composition includes: 95.59% from non-clinical research services, 4.34% from clinical services, and 0.07% from laboratory model supply [1] Fund Holdings - According to data, one fund under Rongtong Fund has a significant holding in Zhaoyan New Drug. The Rongtong Healthcare Industry Mixed A/B Fund (161616) reduced its holdings by 318,500 shares in the third quarter, now holding 938,300 shares, which accounts for 3.95% of the fund's net value, ranking as the sixth-largest holding [2] - The Rongtong Healthcare Industry Mixed A/B Fund was established on July 26, 2012, with a latest scale of 708 million CNY. Year-to-date returns are 12.74%, ranking 5494 out of 8154 in its category; the one-year return is 8.38%, ranking 6220 out of 8046; and since inception, the return is 136.09% [2] Fund Manager Information - The fund managers of Rongtong Healthcare Industry Mixed A/B Fund are Wan Minyuan and Liu Xiyang. Wan Minyuan has a tenure of 9 years and 69 days, managing assets totaling 5.957 billion CNY, with the best fund return of 144.04% and the worst return of -20.09% during his tenure [3] - Liu Xiyang has a tenure of 1 year and 231 days, managing assets totaling 839 million CNY, with the best fund return of -1.31% and the worst return of -2.08% during his tenure [3]

Core Viewpoint - Zhaoyan New Drug (06127) reported a significant decrease in revenue for the first three quarters of 2025, while achieving a positive net profit compared to a loss in the same period last year [1] Financial Performance - The company achieved an operating revenue of 985 million yuan, representing a year-on-year decrease of 26.23% [1] - The net profit attributable to the parent company was 80.7061 million yuan, a turnaround from a loss of 70.3071 million yuan in the same period last year [1] - Basic earnings per share were reported at 0.11 yuan [1]

Core Viewpoint - Zhaoyan New Drug (06127.HK) reported its Q3 2025 financial results, showing a revenue of 316 million yuan and a net profit of 19.77 million yuan, with basic earnings per share of 0.03 yuan [1] Financial Performance - For the first three quarters, the company achieved a total revenue of 985 million yuan and a net profit of 80.71 million yuan [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 北京昭衍新藥研究中心股份有限公司 （1）第四屆董事會第十六次會議決議公告 （2）2025年第三季度報告 （3）關於取消監事會並修訂《公 司 章 程》的公告 （4）2025年三季度計提資產減值損失公告 （5）2025年第三季度業績說明會 JOINN LABORATORIES (CHINA) CO., LTD. 北京昭衍新藥研究中心股份有限公司 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：6127） 海外監管公告 本公告乃北京昭衍新藥研究中心股份有限公司（「本公司」）根據香港聯合交易 所有限公司證券上市規則第13.10B條 而 作 出。 附件為本公司於上海證券交易所網站刊登之 （17）防止控股股東及關聯方佔用公司資金管理制度 （18）募集資金管理制度 （19）董事會薪酬與考核委員會工作細則 （20） ...