Core Insights - The "Xiansheng Full Exploration Plan" was launched by Xiansheng Pharmaceutical, which will invest 2 billion yuan over the next five years to focus on ten major scientific challenges in the fields of neurology and oncology [1][2] - The plan aims to support disruptive innovation research from the ground up, with a scientific advisory committee composed of 11 academicians from the Chinese Academy of Sciences and the Chinese Academy of Engineering [1] Group 1: Investment and Collaboration - Xiansheng Pharmaceutical will invest 2 billion yuan, and the Nanjing Jiangbei New Area will match this with an additional 2 billion yuan, creating a total investment of 4 billion yuan for the "Xiansheng Full Exploration Plan" [2] - The collaboration aims to establish a demonstration project that integrates technological innovation and industrial innovation [2] Group 2: Research Directions - The ten research directions supported by the plan include: 1. Treatment methods to fundamentally reverse the high mortality and disability rates of strokes 2. Discovery, validation, and drug development of potential targets for precise treatment of neurodegenerative diseases 3. Discovery, validation, and drug development of targets (or combinations) that could significantly improve current cancer treatment efficacy 4. Clinical applications of new-generation gene editing technologies 5. Therapeutic applications of RNA interference/mRNA technologies in neurodegenerative diseases, tumors, and infections 6. Clinical applications of new-generation cell therapies 7. Clinical applications of new-generation delivery technologies 8. Clinical applications related to anti-aging mechanisms 9. Application of AI technologies in target discovery and validation based on clinical data 10. Application of AI technologies in predicting clinical efficacy and safety in drug development [1] Group 3: Event Highlights - The meeting attracted two Nobel Prize winners, six academicians from the Chinese Academy of Sciences and the Chinese Academy of Engineering, and nearly 700 leaders from top hospitals and research institutions across the country [2] - The theme of the meeting was "With You, We Dare to Go Far," focusing on collaborative innovation strategies for the Chinese pharmaceutical industry [2]

Group 1 - The core financial performance of the company in 2024 includes revenue of RMB 2.08 billion, adjusted operating profit of RMB 229 million (up 64.9%), net profit attributable to shareholders of RMB 133 million (up approximately 176.9 times), and adjusted net profit attributable to shareholders of RMB 170 million (up 61.1%) [1] - The company has achieved significant improvement in profitability through the application of AI technology and cost reduction strategies, demonstrating strong recovery momentum in key financial indicators [1][2] - As of December 31, 2024, the total number of verified enterprise users on the platform reached 1.428 million (up 10.4%), and the total registered personal users reached 106 million (up 11.1%), with revenue from personal users amounting to RMB 320 million (up 23.1%) [1] Group 2 - The company has implemented various measures to enhance operational efficiency and profitability, including the integration of AI technology to improve user experience and retention, as well as organizational adjustments to optimize talent allocation and resource configuration [2] - The AI interview system, "猎聘·Doris," has been iterated to version 5.0, indicating ongoing innovation in AI applications [3] - The financial health of the company has significantly improved, achieving a net operating cash inflow of RMB 93 million and total cash reserves of approximately RMB 2.8 billion, which provides ample resources for strategic initiatives [3]

为迎接新国标，公司已经做好了符合新国标的新车型、新材料、新工艺储备，根据"8+3"过渡期的设 置，提前安排好了产品切换的节奏。在产能方面，2024年，公司浙江、广西、山东三大智造基地均入选 工信部"白名单"，重庆新基地（规划产能200万台/年）已于2025年初投产，为市占率提升提供保障。 面对传统两轮电动车市场增量放缓的行业态势，公司以技术创新驱动产品迭代升级，于2024年底正式推 出高端智能出行品牌LYVA，战略进军以电助力车为代表的两轮车高端市场。依托28年深耕两轮电动车 领域的技术沉淀，公司自主研发的液冷中置电机性能达到国际一流水平，配合全碳纤维车架与符合人体 工学的时尚设计，成功打造了集智能动力、轻量化结构与美学设计于一体的标杆旗舰产品。 业内人士分析，2025年将是两轮电动车行业的分水岭，新国标和全产业链整治推动行业快步走向规范 化，以旧换新、"8+3"过渡期政策刺激需求释放，经营规范的头部厂商将享受份额扩张和需求增长的双 重红利。公司在主业份额扩张的同时，高端电助力车将开辟第二成长曲线。电动车生态进一步打开发展 空间，多轮驱动公司走上高速增长之路。 （文章来源：证券日报） 本报讯 （记者矫月） 2 ...

2024年中国医药流通行业在政策深化与数智化双轮驱动下实现高质量发展。老龄化与健康需求升级推动 服务多元化，医改加速处方外流，院外市场持续扩容，零售终端规模逐渐主导行业增量。报告期内，创 美药业依托扎实的零售终端网络与供应链协同能力，紧抓行业机遇，深化供应链效率与提升精准服务能 力，在高质量发展新周期中实现规模与效益双升。2024年，集团收入录得人民币44.35亿元，净利润达 人民币5328万元，均同比2023年有所增长，集团基本及稀释每股收益亦增长至人民币0.4934元。董事会 建议就截至2024年12月31日止年度派发末期股息每股人民币0.45元(含税)，派息比例高达91%。 2024年，创美药业依托立体化营销网络，携手华润三九（000999）、赫力昂、广药白云山等知名药企构 建完整的产业链和商业生态体系。集团通过品种资源整合、购销渠道优化、数智化物流等核心优势，助 力药企降低渠道拓展难度，促进品牌价值与市场效益提升。同时，集团积极推进千万级厂牌政策，结合 创新的多维度营销策略，实现产品快速流通与高效转化。截至2024年12月31日，集团分销产品12810 种，供应商1206家，分销网络覆盖14429名客 ...

重点业态市占率稳步提升 具体来看，2024年，卓越商企服务保持商务物业领域领先地位，超八成的基础物业服务收入来自商务、 工业及公共物业板块。在规模方面，合约面积首次突破八千万平方米，同比增长8.6%，其中，在一 线、新一线城市，在管面积持续保持在75%以上的高位水平，长三角地区增长势头较好，在整体结构上 占比首次达到30%。 从增长的动因来看，公司非住物业第三方的在管面积占比保持在60%以上，第三方业务仍然是核心引 擎。 在业绩会上，卓越商企服务执行董事、首席执行官杨志东表示，2024年公司全年新签的第三方合同总额 首次突破18.8亿元，创下历史新高。在高端制造、算力和数据中心等重点业态的市场占有率稳步提升， 与战略客户的合作持续深化。 "2024年是卓越商企服务的交付大年，我们不仅实现存量战略业务100%合同保有，全年还有超过700万 平方米的战略客户新拓园区实现高标准交付，涵盖超大型互联网总部园区、研发办公园区、高端制造园 区等核心业态，"杨志东表示，这些成绩进一步印证"以服务促续约、以品质拓增量"的长期发展策略正 在取得实际效果。 本报记者陈潇 "未来房地产行业会从高周转的增量发展模式转向精细化的存量运 ...

Core Viewpoint - In 2024, Haidilao is launching the "Pomegranate Plan" to incubate independent brands internally, aiming to address market saturation and consumer segmentation challenges while fostering employee entrepreneurship [1][2][3]. Group 1: Financial Performance - By the end of 2024, Haidilao's other restaurant revenues reached 483 million yuan, marking a year-on-year increase of 39.6% [2]. - The company has already established 11 sub-brands, including "Yanjing BBQ," "Fire Flame Official," and "Little Hi Hot Pot," with a total of 74 stores [7]. Group 2: Strategic Initiatives - The "Pomegranate Plan" encourages employees to manage multiple stores, allowing store managers to oversee both the main brand and incubated brands, thus promoting talent sharing [2][3]. - The plan symbolizes internal innovation and entrepreneurship, with a focus on project replicability and alignment with economic trends [3][5]. Group 3: Internal Structure and Evaluation - The internal "Entrepreneurship Committee" acts similarly to a venture capital entity, evaluating new projects based on their replicability, market trends, and integration of automation and digital operations [8][9]. - Projects may be voluntarily shut down by founders or based on data assessments by the company, with a structured review mechanism in place [9]. Group 4: Employee Engagement and Incentives - The incentive mechanism for the entrepreneurial teams includes equity incentives, profit sharing, and salary guarantees, aligning the interests of founders with the company's performance [9]. - Employees are excited about the potential for career advancement, seeing opportunities to manage new brands beyond just Haidilao [4].

注：2024年权益新增货值top9数据来自中指 | 公司 | 证券代码 | 2024年权益新增货值 | 市值(亿元) | 比值 | | --- | --- | --- | --- | --- | | | | (亿元) | (2025. 3. 28) | | | 中国海外发展 | 00688. hk | 1577 | 1424 | 1.11 | | 华润雷地 | 01109. hk | 1175 | 1681 | 0. 70 | | 保利发展 | 600048. sh | 1188 | 1012 | 1.17 | | 绿城中国 | 03900. hk | 935 | 251 | 3.73 | | 建发国际 | 01908. hk | 742 | 303 | 2. 45 | | 滨江集团 | 002244. sz | 343 | 327 | 1.05 | | 摺商蛇口 | 001979. sz | 511 | 863 | 0.59 | | 中国余茂 | 00817. hk | 392 | 153 | 2. 56 | | 越营地产 | 00123. hk | 336 | | | 2024年还在拿地的房企，也大部分聚 ...

Core Viewpoint - The white liquor industry is experiencing a downturn, with first-tier brands showing relative resilience while second and third-tier brands face significant declines in stock prices [1][2][6]. Group 1: Market Performance - First-tier liquor stocks, including Jinshiyuan, Luzhou Laojiao, Guizhou Moutai, Shui Jing Fang, and Shanxi Fenjiu, have shown slight increases, with none exceeding a 2% weekly rise [2][5]. - The WINE index saw a weekly decline of 0.97%, with second and third-tier brands like Yingjia Gongjiu, Zhenjiu Lidu, and Huangtai Liquor experiencing larger drops, particularly Zhenjiu Lidu and Huangtai Liquor, which fell over 4% [2][5]. - Guizhou Moutai led the market capitalization growth, adding 14.4 billion yuan, the only brand to exceed a 10 billion yuan increase [2]. Group 2: Company-Specific Issues - Zhenjiu Lidu's stock has declined by 11% since its annual report release, with modest revenue growth and slightly below-market expectations for net profit due to a reduction in low-margin products from its e-commerce strategy [6][7]. - Zhenjiu Lidu's revenue share for the second half of 2024 is expected to decline compared to last year, raising questions about the effectiveness of its inventory control strategy in restoring rapid growth [7]. - Huangtai Liquor has faced a continuous downward trend in stock price, attributed to poor governance, including the replacement of three secretaries in three years and a lack of cash dividends, which is rare in the liquor industry [7].

作为房地产行业颇具影响力的标杆企业，绿城中国交出了一份亮眼的2024年答卷。 面对行业内部日益加剧的分化趋势，绿城中国不断强化自身的核心竞争力。截至2024年报告期末，绿城 中国货币资金达约730亿元，维持高位；经营性现金流288亿元，达到历史新高；净资产负债率56.6%， 同比下降7.2个百分点；总合同销售额2768亿元，保持行业第三；不断精进产品交付满意度达到行业领 先水平。 从2024年财报中可以发现，绿城中国凭借精准的市场策略和品质实力，实现了核心指标持续向好，客户 满意度不断提升，夯实了公司在行业中的领先地位。 绿城中国在销售端的比较优势更为明显。2024年，绿城集团（包括绿城中国控股有限公司及其附属公司 连同其合营企业及联营公司）累计取得总合同销售面积约1409万平方米，总合同销售金额约2768亿元， 合同销售保持行业第三。自投项目累计取得合同销售面积约591万平方米，合同销售金额约1718亿元； 其中归属于绿城集团的权益金额约1206亿元，权益比提升至70%，保持较高水平。代建项目累计取得销 售面积约818万平方米，销售金额约1050亿元。自投及权益销售均提升至行业第六。 在行业深度调整的过程中 ...

公司预计将在2025年第四季度实现TY9591的商业化，面对中国非小细胞肺癌及肺癌脑转移治疗中亟待 满足的临床需求，TY9591的商业化潜力有望得到快速释放，预计2027年公司将实现收支平衡。 公司于2025年3月9日发布自愿性公告，宣布其自主研发的核心产品TY-9591(商品名：卡达沙®)在治疗 EGFR 突变肺癌脑转移等方面取得了积极进展，计划近期向国家药品监督管理局药品审评中心提交 NDA 上市申请。在对比奥希替尼(商品名：泰瑞沙®)作为一线治疗EGFR突变肺癌脑转移的关键II期临 床试验中，根据研究者数据显示，TY-9591(商品名：卡达沙®)具有统计学显著意义和重大临床获益，已 达到研究预期。由于出色的关键II期临床试验结果，TY-9591有望成为全球第一个获批脑转移适应症的 三代EGFR抑制剂，也有望成为全球第一个单药头对头击败奥希替尼的产品。 智通财经APP了解到，浙江同源康医药股份有限公司(02410)于2025年3月27日发布2024年业绩。集团总 收入10.7万元人民币，主要得益于研发服务收入的增加。报告期内亏损 3.87 亿元，研发成本约 2.35 亿 元，同比收窄 5.5%，这显示出公 ...