自主研发筑基，BD 合源，双轮驱动创新价值高效兑现 ——迈威生物深度报告 迈威生物-U（688062.SH） 化学制药 证券研究报告/公司深度报告 2026 年 02 月 25 日 | 公司盈利预测及估值 | | | | | | | --- | --- | --- | --- | --- | --- | | 指标 | 2023A | 2024A | 2025E | 2026E | 2027E | | 营业收入（百万元） | 128 | 200 | 674 | 1,163 | 1,273 | | 增长率 yoy% | 361% | 56% | 238% | 72% | 10% | | 归母净利润（百万元） | -1,053 | -1,044 | -922 | -661 | -355 | | 增长率 yoy% | -10% | 1% | 12% | 28% | 46% | | 每股收益（元） | -2.64 | -2.61 | -2.31 | -1.65 | -0.89 | | 每股现金流量 | -1.96 | -2.39 | -1.81 | -1.29 | 0.17 | | 净资产收益率 | -40% | -6 ...

自主研发筑基，BD 合源，双轮驱动创新价值高效兑现 ——迈威生物深度报告 迈威生物-U（688062.SH） 化学制药 证券研究报告/公司深度报告 2026 年 02 月 25 日 | 公司盈利预测及估值 | | | | | | | --- | --- | --- | --- | --- | --- | | 指标 | 2023A | 2024A | 2025E | 2026E | 2027E | | 营业收入（百万元） | 128 | 200 | 674 | 1,163 | 1,273 | | 增长率 yoy% | 361% | 56% | 238% | 72% | 10% | | 归母净利润（百万元） | -1,053 | -1,044 | -922 | -661 | -355 | | 增长率 yoy% | -10% | 1% | 12% | 28% | 46% | | 每股收益（元） | -2.64 | -2.61 | -2.31 | -1.65 | -0.89 | | 每股现金流量 | -1.96 | -2.39 | -1.81 | -1.29 | 0.17 | | 净资产收益率 | -40% | -6 ...

中证1000增强ETF招商（159680）业绩比较基准为中证1000指数收益率，管理人为招商基金管理有限公 司，基金经理为蔡振、文雨，成立（2022-11-18）以来回报为72.63%，近一个月回报为-0.19%。 声明：市场有风险，投资需谨慎。本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本文 出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 来源：新浪基金∞工作室 2月25日，截止午间收盘，中证1000增强ETF招商（159680）涨0.64%，报1.740元，成交额1813.30万 元。中证1000增强ETF招商（159680）重仓股方面，欧菲光截止午盘涨0.81%，移远通信涨0.11%，震裕 科技跌0.55%，聚辰股份跌2.29%，天奈科技涨3.02%，荣昌生物涨1.58%，南芯科技涨0.47%，爱柯迪涨 0.92%，华阳集团涨1.48%，迈威生物跌0.71%。 ...

Core Viewpoint - The article discusses the current funding logic in the market, highlighting the significant movements of public funds in the technology sector, particularly in the semiconductor and biopharmaceutical industries, as they adjust their portfolios based on performance and valuation metrics [3][8]. Group 1: Public Fund Movements - Public funds have shown a notable shift in their holdings, particularly in the STAR Market, with the STAR 50 Index rising by 12.1% this year [3][4]. - The total market capitalization of STAR Market companies reached 10.4 trillion yuan, with the technology sector dominating, accounting for 62.1% of the total market cap [5][6]. - The semiconductor industry remains the core focus for fund allocation, with 12 companies in the sector having a market capitalization exceeding 10 billion yuan [9][11]. Group 2: Semiconductor Sector Insights - The market's pricing anchor for the semiconductor sector has shifted from "valuation expansion" to "performance realization," emphasizing the importance of actual earnings [13][14]. - Key drivers for future growth in the semiconductor sector include strong order backlogs, profit growth through acquisitions and expansions, and sustained price increases in advanced processes [13][14]. - Public funds have significantly increased their holdings in semiconductor materials, chip design, and equipment, with companies like ShenGong Co. seeing an 11% increase in fund holdings [15][21]. Group 3: Biopharmaceutical Sector Insights - The biopharmaceutical sector is a critical area for public funds, with major holdings in companies like BeiGene and United Imaging Healthcare, although the sector has faced a reduction in holdings for several key companies [24][26]. - The article notes that innovative drug companies are currently under pressure, with significant reductions in holdings observed in companies like BaiLi TianHeng and RongChang Biopharma [26][28]. - Despite the challenges, companies with strong earnings potential and innovative drug pipelines are still attracting interest from public funds, indicating a selective investment approach [35][40].

北京植德（上海）律师事务所 北京植德（上海）律师事务所 关于迈威（上海）生物科技股份有限公司 关于迈威（上海）生物科技股份有限公司 2026 年第一次临时股东会的 法律意见书 植德沪（会）字[2026]0004 号 二〇二六年二月 上海市徐汇区虹桥路 183 号徐家汇中心三期 A 座办公楼 27 层（THREE itc） 邮编：200030 27th Floor Tower A, THREE itc, No.183 Hongqiao Road, Xuhui District, Shanghai 200030 P.R.C 电话(Tel)：021-52533500 传真(Fax)：021-52533599 www.meritsandtree.com 2026 年第一次临时股东会的 法律意见书 植德沪（会）字[2026]0004 号 致：迈威（上海）生物科技股份有限公司（贵公司） 北京植德（上海）律师事务所（以下简称"本所"）接受贵公司的委托，指 派律师出席并见证贵公司 2026 年第一次临时股东会（以下简称"本次会议"）。 本所律师参加本次会议进行见证，并根据《中华人民共和国公司法》（以下 简称"《公司法》"）、 ...

证券代码：688062 证券简称：迈威生物 公告编号：2026-006 迈威（上海）生物科技股份有限公司 2026年第一次临时股东会决议公告 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 129 | | --- | --- | | 普通股股东人数 | 129 | | 2、出席会议的股东所持有的表决权数量 | 205,575,336 | | 普通股股东所持有表决权数量 | 205,575,336 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 51.4452 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 51.4452 | （四） 表决方式是否符合《公司法》及公司章程的规定，股东会主持情况等。 会议采取现场投票和网络投票相结合的表决方式，表决程序符合《中华人民 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 本次会议是否有被否决议案：无 一、 会议召开和出席 ...

Group 1 - The core viewpoint of the article highlights the performance of the CSI 1000 Enhanced ETF (159680), which rose by 0.76% to 1.732 yuan with a trading volume of 28.7856 million yuan as of the midday close [1] - The fund's performance benchmark is the CSI 1000 Index return, and it has achieved a return of 71.34% since its establishment on November 18, 2022, with a one-month return of 4.69% [1] - The major holdings of the CSI 1000 Enhanced ETF include companies such as O-film Technology, which fell by 0.50%, and Huayang Group, which increased by 2.54% [1] Group 2 - The fund is managed by China Merchants Fund Management Co., with fund managers Cai Zhen and Wen Yu overseeing its operations [1] - The article provides a detailed breakdown of the performance of individual stocks within the ETF, indicating mixed results among its top holdings [1]

Group 1: Core Insights - The article highlights the absence of significant announcements from a company named "Shengyan Bio" as of February 11, 2026 [1] - It points out notable developments in the biopharmaceutical sector involving companies with similar names [1] Group 2: Stock Performance - Maiwei Bio-U announced a global strategic cooperation agreement with Sentonix on January 7, 2026, to jointly develop innovative drugs for neurodegenerative diseases [2] Group 3: Business Performance - Rongchang Bio's 2025 earnings forecast indicates a revenue increase of approximately 89% year-on-year, achieving profitability. The company has multiple new drug indication applications accepted, with expected market attention in 2026 [3] Group 4: Strategic Initiatives - Liankang Biotechnology Group signed a tripartite strategic cooperation agreement with Wenzhou Medical University National Engineering Research Center and the People's Government of Ouhai District, Wenzhou, on December 30, 2025, to enhance its R&D pipeline in skin, ophthalmology, and metabolic diseases [4]

Investment Rating - The report assigns an "Outperform" rating for the pharmaceutical sector, indicating a positive outlook compared to the broader market [2][4]. Core Insights - The collaboration between Innovent Biologics and Eli Lilly has been upgraded, aiming to create a global innovative ecosystem for drug development in oncology and immunology. This partnership marks their seventh collaboration, enhancing their strategic relationship over more than a decade [2]. - The Chinese government has introduced a high-quality development plan for traditional Chinese medicine (TCM), focusing on improving raw material supply, innovation, and manufacturing capabilities. The plan aims to establish a collaborative development system by 2030, with significant investments in TCM innovation [2]. Summary by Sections Market Performance - The SW Pharmaceutical Biotechnology Index increased by 0.14% during the week of February 2 to February 8, outperforming the CSI 300 Index, which decreased by 1.33%. The Chinese medicine sector saw a notable rise of 2.56% due to new policies, while vaccines and other bioproducts experienced declines [2]. Strategic Collaborations - Innovent Biologics and Eli Lilly's new agreement includes a $350 million upfront payment and potential milestone payments of up to $8.5 billion, along with a tiered sales revenue sharing model for products outside Greater China. This partnership signifies a shift from traditional licensing to deeper integration of technology platforms and R&D systems [2]. Investment Opportunities - The report highlights continued optimism for Chinese innovative drugs entering international markets, particularly in areas such as antibody-drug conjugates (ADCs), dual antibodies, small nucleic acids, and weight-loss medications. Key companies to watch include Innovent Biologics, 3SBio, WuXi AppTec, and others [2].

同泰大健康主题混合基金共经历4位基金经理的陆续管理，其现任基金经理为马毅和麦健沛，但可惜的 是，至今还没有一位在管理任期内实现正回报。 基金经理变动一览 中国经济网北京2月9日讯 2月4日，智通财经发布《2021年成立的基金还拿不回本？五成亏损 问题究竟 出在哪？》一文。文中称，2021年大量主动权益基金密集成立，但2021年那一批在牛市尾声发车的基金却 并没有集体扬眉吐气。智通财经记者以2021年成立并仍存续的667只主动权益基金为样本统计发现，截至最 新净值，仍有约362只成立以来收益为负，占比超过五成。其中86只基金自成立以来跌幅在30%以上，34只 的回撤更是超过40%。 根据天天基金网最新数据显示，成立于2021年4月8日的同泰大健康主题混合基金A/C，在截至2026年2 月6日的最新累计收益率为-56.45%和-57.28%，累计单位净值仅有0.4355元、0.4272元。 | 同泰大健康主题混合A(011002) | | | | --- | --- | --- | | 单位净值(2026-02-06) | 累计净值 | | | 0.4355 -1.34% | 0.4355 | | | 沂1月: ...