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平安证券晨会纪要-20250710
Ping An Securities·2025-07-10 01:05

Group 1: Company Insights - The company has submitted a domestic listing application for the FGFR4 inhibitor, Pimiatin, which has entered the registration clinical trial phase for liver cancer treatment, indicating significant clinical potential [9][10][11] - The company maintains revenue guidance for 2025-2027 at 619 million, 623 million, and 664 million yuan respectively, and continues to push forward with its early-stage pipeline progress [11] - The company has demonstrated strong clinical development capabilities, with multiple innovative clinical breakthroughs announced at the 2025 AACR conference, showcasing its commitment to advancing its pipeline [11] Group 2: Industry Insights - The banking sector is experiencing a profound change in funding structure, with a shift towards reallocation rather than trading, driven by stable capital inflows from passive index expansions [12][13] - The average dividend yield for the banking sector currently stands at 3.86%, making it attractive for long-term capital, particularly from insurance funds [12][13] - In June 2025, the banking sector outperformed the CSI 300 index, with a 6.13% increase, indicating strong market performance [14]