新版医保目录已进入实质性落地阶段。1月8日，北京商报记者注意到，包括替妥尤单抗N01注射液、夫那奇珠单抗注射液在内的多款新增创新药，已在多地 医院纷纷开出医保首方。这标志着患者使用这些高价创新药的实际门槛正在快速降低，新版目录的惠民效应开始显现。 本次医保目录调整不仅新增了114种药品，更首次同步推出《商业健康保险创新药品目录（2025年）》，通过"基本医保+商保"的双重保障，为肿瘤、罕见病 等领域19种高值药品开辟了可及的支付通路，医保支付体系向多层次保障的实质性转型迈出关键一步，创新药企也迎来了加速商业化放量的重要节点。 从上市到开出医保首方不足一年 创新药迅速落地医保，是新版医保目录对具有高临床价值"真创新"支持力度加大的直接体现。本次调整中，新版医保目录与商保创新药目录共纳入独家品种 124个。 其中，备受关注的替妥尤单抗N01注射液是国内首款用于治疗甲状腺眼病的靶向药物，从2025年3月上市，到开出医保首方，用时不到一年，填补了我国该 领域近70年的治疗空白。 | | | 基本医保目录"上新"药品定点医药机构销售情况(2026年1月1日至1月6日) | | | | --- | --- | --- | ...

据交易所数据显示，12月17日，中进医疗(ZJYL)开盘上涨10.04%，截至22:30，报0.206美元/股，成交 373.0美元，总市值3224.87万美元。 2026年1月23日，中进医疗将披露2025财年年报（数据来源于纳斯达克官网，预计披露日期为美国当地 时间，实际披露日期以公司公告为准）。 资料显示，中进医疗器材国际有限公司是一家在开曼群岛注册成立的境外控股母公司,主要通过其境内 实体子公司常州中进医疗器材股份有限公司运营。其子公司成立于2006年1月,自2012年起,一直是国家认 定的高新技术企业,中进以研发、制造高端康复器材为主营业务,经过十多年的发展,已经成为世界顶级康 复器材研发、制造企业,产品涵盖助行类、呼吸类医疗器材、智能纳米洗浴设备以及老年人、病人专用 的乐浴系列产品、老年人及特殊人群的健身器材、救灾抢险产品 本文源自：市场资讯 作者：行情君 财务数据显示，截至2025年03月31日，中进医疗收入总额988.15万美元，同比减少6.4%；归母净利 润-8.9万美元，同比减少104.96%。 大事提醒： ...

Macroeconomic and Market Analysis - The central economic work conference emphasizes that expanding domestic demand is the top priority for next year [1][4] - Domestic demand has remained stable this year, contributing 71% to economic growth in the first three quarters, with effective consumption policies showing significant results [1][4] - However, there has been a recent slowdown in consumption and investment growth, indicating the need for continued efforts to boost domestic demand [1][4] Important Announcements from Listed Companies - Vanke announced a proposal to extend the principal repayment date of its fourth tranche of medium-term notes for 2022 by 12 months to December 15, 2026, with interest of 60 million yuan due on December 15, 2025, to be paid within a grace period [2][5] - During the grace period, unpaid principal will accrue interest at 3.00%, while unpaid interest will not accrue additional interest, and the coupon rate will remain unchanged at 3.00% [2][5] - After the market close on December 16, several companies disclosed shareholding changes, with some increasing their holdings and others, including Ningbo Color Masterbatch and Huashu Co., announcing reductions [2][5] Peripheral Markets and Related Assets - On Tuesday, U.S. stock indices showed mixed results, with the Dow Jones down 0.62%, the Nasdaq up 0.23%, and the S&P 500 down 0.24% [3][6] - Major tech stocks mostly rose, with Tesla gaining 3.07% and reaching a new closing high, while Qualcomm fell over 1% [3][6] - The Nasdaq Golden Dragon China Index fell 0.34%, with notable declines in companies like Zhongjin Medical and Kandi Technologies [7] - International oil prices saw WTI crude oil drop 3% to below $55 per barrel, currently at $54.97, while Brent crude fell 2.58% below $59 per barrel [7]

资料显示，中进医疗器材国际有限公司是一家在开曼群岛注册成立的境外控股母公司,主要通过其境内 实体子公司常州中进医疗器材股份有限公司运营。其子公司成立于2006年1月,自2012年起,一直是国家认 定的高新技术企业,中进以研发、制造高端康复器材为主营业务,经过十多年的发展,已经成为世界顶级康 复器材研发、制造企业,产品涵盖助行类、呼吸类医疗器材、智能纳米洗浴设备以及老年人、病人专用 的乐浴系列产品、老年人及特殊人群的健身器材、救灾抢险产品 本文源自：市场资讯 作者：行情君 据交易所数据显示，12月15日，中进医疗(ZJYL)开盘上涨4.21%，截至22:30，报0.23美元/股，成交 1759.0美元，总市值3602.15万美元。 财务数据显示，截至2025年03月31日，中进医疗收入总额988.15万美元，同比减少6.4%；归母净利 润-8.9万美元，同比减少104.96%。 大事提醒： 2026年1月23日，中进医疗将披露2025财年年报（数据来源于纳斯达克官网，预计披露日期为美国当地 时间，实际披露日期以公司公告为准）。 ...

Core Insights - The introduction of five CAR-T cell therapies into the Commercial Health Insurance Innovative Drug Directory marks a significant breakthrough for these high-cost treatments, which previously struggled to gain access to national insurance negotiations [1][3][4] Group 1: Benefits of Inclusion - The five CAR-T therapies included are aimed at treating various blood cancers, providing hope for potential cures in conditions like large B-cell lymphoma, multiple myeloma, and acute lymphoblastic leukemia [3] - The inclusion of these therapies in the directory is seen as a milestone for improving patient accessibility to innovative drugs in China [4][5] - The pricing of these therapies varies, with the lowest being 999,000 yuan (approximately 99.9 million) for the product from 合源生物, while the highest is 1,290,000 yuan (approximately 129 million) for the product from 药明巨诺 [1] Group 2: Market Dynamics and Cost Considerations - The high production costs of CAR-T therapies, particularly due to the expensive lentiviral vectors sourced from foreign suppliers, have historically limited their pricing and accessibility [3] - Some companies have reported that their CAR-T products will see price reductions of at least 15% upon inclusion in the directory, which is expected to be more favorable than local health insurance programs [5] Group 3: Implementation Challenges - The successful inclusion of CAR-T therapies in the directory raises questions about the practical implementation and accessibility in hospitals, as the directory's effectiveness relies on its adoption at the hospital level [6][7] - Policies such as the "three exclusions" from basic medical insurance and centralized procurement monitoring are designed to alleviate concerns from hospitals and physicians regarding cost assessments, potentially facilitating the entry of these drugs into hospitals [6][7] - There are ongoing discussions about further coordination between the National Medical Insurance Administration and health authorities to ensure that the performance assessments of hospitals do not hinder the adoption of these innovative therapies [7]

Core Insights - Biotech stocks experienced significant gains in after-hours trading on September 9, 2025, driven by clinical updates, insider buying, and investor conference appearances across several small- and mid-cap companies [1] Company Summaries - **Immutep Ltd. (IMMP)**: Shares rose by 4.37% to $1.67 after-hours, following a decline of 6.98% during regular trading. The stock's rebound was fueled by the acceptance of data from its EFTISARC-NEO Phase II trial for oral presentation at CTOS 2025, focusing on a rare cancer with high unmet need [2][3] - **Nautilus Biotechnology Inc. (NAUT)**: Shares surged by 12.25% to $0.7521 after-hours, recovering from a 4.42% decline in regular trading. The increase was attributed to insider buying by CEO Sujal M. Patel, who purchased 83,500 shares, signaling confidence in the company [4][5] - **Pliant Therapeutics Inc. (PLRX)**: The stock ended regular trading at $1.75, up 1.16%, and jumped 16.00% to $2.03 after-hours. The upcoming third-quarter earnings report on November 6, 2025, is expected to provide updates on its lead candidate targeting idiopathic pulmonary fibrosis [6][7] - **Jin Medical International Ltd. (ZJYL)**: Shares closed at $0.6532, gaining 3.65% during regular trading and rising 7.15% to $0.6999 after-hours. The catalyst for this movement was the announcement of expanded production capabilities in China, aimed at enhancing global delivery of medical equipment [7][8] - **Phio Pharmaceuticals Corp. (PHIO)**: The stock rose 8.20% to $2.64 after-hours, building on a 13.49% increase during regular trading. The momentum was driven by participation in the H.C. Wainwright 27th Annual Global Investment Conference, where updates on its Phase 1b clinical trial for PH-762 will be presented [8][9] - **Kura Oncology Inc. (KURA)**: Shares increased by 6.12% to $8.50 after-hours, following a 1.60% decline in regular trading. The rally was linked to the company's presentation at the H.C. Wainwright conference, highlighting key developments and upcoming regulatory milestones for Ziftomenib [10][11][12]

Group 1 - The stock of Zhongjin Medical (ZJYL) opened up by 10.51% on August 25, reaching $0.8 per share, with a total transaction volume of $47,700 and a market capitalization of $125 million [1] - As of March 31, 2025, Zhongjin Medical reported total revenue of $9.8815 million, a year-on-year decrease of 6.4%, and a net profit attributable to the parent company of -$89,000, representing a year-on-year decrease of 104.96% [1] - Zhongjin Medical Equipment International Co., Ltd. is a Cayman Islands-registered holding company that primarily operates through its domestic subsidiary, Changzhou Zhongjin Medical Equipment Co., Ltd., which was established in January 2006 and has been recognized as a national high-tech enterprise since 2012 [1] Group 2 - The company specializes in the research and manufacturing of high-end rehabilitation equipment, having developed into a top-tier global manufacturer over more than a decade [1] - Its product range includes walking aids, respiratory medical devices, smart nano bathing equipment, and fitness equipment specifically designed for the elderly and special populations, as well as disaster relief products [1]

Core Viewpoint - Zhongjin Medical (ZJYL) experienced a significant stock price increase of 22.4% on August 23, reaching $0.699 per share, with a trading volume of $309,400 and a total market capitalization of $109 million [1] Financial Performance - As of September 30, 2024, Zhongjin Medical reported total revenue of $23.502 million, representing a year-on-year growth of 18.57% [1] - The net profit attributable to the parent company was $3.6759 million, showing a year-on-year increase of 27.71% [1] Company Overview - Zhongjin Medical Equipment International Co., Ltd. is a Cayman Islands-registered holding company that primarily operates through its domestic subsidiary, Changzhou Zhongjin Medical Equipment Co., Ltd. [1] - The subsidiary was established in January 2006 and has been recognized as a national high-tech enterprise since 2012 [1] - The company specializes in the research and manufacturing of high-end rehabilitation equipment and has developed into a leading global manufacturer in this sector over more than a decade [1] - Its product range includes walking aids, respiratory medical devices, smart nano bathing equipment, specialized bathing products for the elderly and patients, fitness equipment for the elderly and special populations, and disaster relief products [1]

Group 1 - The stock of Zhongjin Medical (ZJYL) opened up by 6.79% on August 22, reaching $0.61 per share, with a total market capitalization of $95.4781 million [1] - As of September 30, 2024, Zhongjin Medical reported total revenue of $23.502 million, representing a year-on-year growth of 18.57%, and a net profit attributable to the parent company of $3.6759 million, reflecting a year-on-year increase of 27.71% [1] - Zhongjin Medical Equipment International Co., Ltd. is a Cayman Islands-registered holding company that primarily operates through its domestic subsidiary, Changzhou Zhongjin Medical Equipment Co., Ltd., which has been recognized as a national high-tech enterprise since 2012 [1] Group 2 - The company specializes in the research and manufacturing of high-end rehabilitation equipment, having developed into a top-tier global manufacturer over more than a decade [1] - Its product range includes walking aids, respiratory medical devices, smart nano bathing equipment, and fitness equipment specifically designed for the elderly and special populations, as well as disaster relief products [1]

Group 1 - The stock price of Zhongjin Medical (ZJYL) increased by 3.57% on August 22, reaching $0.592 per share, with a trading volume of $23,100 and a total market capitalization of $92.5976 million [1] - As of September 30, 2024, Zhongjin Medical reported total revenue of $23.502 million, representing a year-on-year growth of 18.57%, and a net profit attributable to the parent company of $3.6759 million, reflecting a year-on-year increase of 27.71% [1] - Zhongjin Medical Equipment International Co., Ltd. is a Cayman Islands-registered holding company that primarily operates through its domestic subsidiary, Changzhou Zhongjin Medical Equipment Co., Ltd., which has been recognized as a high-tech enterprise since 2012 [1] Group 2 - The company specializes in the research and manufacturing of high-end rehabilitation equipment, having developed into a top-tier global manufacturer over more than a decade [1] - Its product range includes walking aids, respiratory medical devices, smart nano bathing equipment, and fitness equipment for the elderly and special populations, as well as disaster relief products [1]