【光大研究每日速递】20250702

Group 1 - The article discusses the new policy issued by the National Healthcare Security Administration and the National Health Commission on July 1, 2025, aimed at supporting the high-quality development of innovative drugs in China, which is expected to transform China from a "generic drug powerhouse" to an "innovative drug stronghold" [4] - The policy includes a comprehensive support system covering research and development, market access, payment, and clinical application, which is anticipated to benefit leading innovative drug companies, specialized biotech firms, and the CXO industry chain [4] Group 2 - Akole's COC project has passed safety facility acceptance review and has officially entered the stable production phase, with successful product output, indicating resolution of previous batch stability issues [5] - Xingsen Technology reported a revenue of 5.817 billion yuan for 2024, a year-on-year increase of 8.53%, but faced a net loss of 198 million yuan [6] - Kuaishou's general merchandise sales maintained high growth during the 618 shopping festival, with the launch of a new recommendation system, OneRec, expected to accelerate advertising growth in the second half of 2025 [7] - Bosideng achieved a revenue of 25.9 billion yuan for the fiscal year ending March 2025, a year-on-year increase of 11.6%, with a net profit of 3.51 billion yuan, reflecting a solid performance despite weak demand [7] - New Dairy's strategy focuses on leveraging raw milk cost advantages and improving product structure to enhance profitability, with expectations of continued raw milk benefits and increased revenue from low-temperature products [8] - Health元's respiratory product sales declined to 1.097 billion yuan in 2024, a decrease of 36.98%, but is expected to recover in 2025 as negative factors dissipate and key products gradually ramp up [9]