2月2日，A股市场整体下跌。截至收盘，上证指数收报4015.75点，下跌2.48%，深证成指收报 13824.35点，下跌2.69%，创业板指收报3264.11点，下跌2.46%，北证50指数下跌2.03%。 1. A股市场全天资金净流出539.77亿元 今日A股市场主力资金开盘净流出143.2亿元，尾盘净流出157.11亿元，A股市场全天资金净流出 539.77亿元。 | | | 沪深两市近五日主力资金流向情况(亿元) | | | | --- | --- | --- | --- | --- | | 日期 | | 净流入金额 开盘净流入 | | 尾盘净流入 超大单净买入 | | 2026-2-2 | -539.77 | -143. 20 | -157. 11 | -384. 36 | | 2026-1-30 | -595. 71 | -279.84 | -50. 70 | -303.01 | | 2026-1-29 | -602. 22 | -221.16 | -98.94 | -296. 09 | | 2026-1-28 | -274.87 | -58.90 | -29.34 | -118. 55 | | ...

证券之星消息，2月2日化学制药板块较上一交易日下跌2.74%，常山药业领跌。当日上证指数报收于 4015.75，下跌2.48%。深证成指报收于13824.35，下跌2.69%。化学制药板块个股涨跌见下表： 从资金流向上来看，当日化学制药板块主力资金净流出17.84亿元，游资资金净流入4.59亿元，散户资金 净流入13.25亿元。化学制药板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入(元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 002099 海翔药业 | | 8825.41万 | 12.82% | -5616.28万 | -8.16% | -3209.13万 | -4.66% | | 300436 | 广生堂 | 7859.33万 | 6.93% | -2678.33万 | -2.36% | -5181.00万 | -4.57% | | 600513 联环药业 | | 3551.00万 | 13.02% | -876.01万 | -3. ...

Group 1 - On January 30, Changshan Pharmaceutical's stock rose by 5.28%, with a trading volume of 1.538 billion yuan [1] - The company had a financing buy amount of 104 million yuan and a financing repayment of 111 million yuan on the same day, resulting in a net financing buy of -7.81 million yuan [1] - As of January 30, the total margin balance for Changshan Pharmaceutical was 2.608 billion yuan, accounting for 5.12% of its circulating market value, which is above the 90th percentile level over the past year [1] Group 2 - As of January 20, the number of shareholders for Changshan Pharmaceutical was 41,400, an increase of 2.88% from the previous period [2] - The average circulating shares per person decreased by 2.79% to 22,148 shares [2] - For the period from January to September 2025, the company reported an operating income of 681 million yuan, a year-on-year decrease of 13.11%, and a net profit attributable to the parent company of -44.82 million yuan, a decrease of 714.77% year-on-year [2] Group 3 - Since its A-share listing, Changshan Pharmaceutical has distributed a total of 181 million yuan in dividends, with 4.5953 million yuan distributed in the last three years [3] - As of September 30, 2025, Hong Kong Central Clearing Limited was the sixth largest circulating shareholder, holding 3.8944 million shares, a decrease of 6.6577 million shares from the previous period [3]

Core Viewpoint - Changshan Pharmaceutical (300255) is expected to report a net profit loss of between 190 million to 285 million yuan for 2025, marking a year-on-year decline of 14.24% to 23.84%, continuing its trend of losses for the third consecutive year [1] Financial Performance - For the first three quarters of 2025, the company reported an operating income of 681 million yuan, a year-on-year decrease of 13.11%, and a net profit loss of 44.82 million yuan, indicating a significant increase in losses in the fourth quarter [3] - The company experienced a net profit loss of 1.24 billion yuan in 2023, followed by a loss of 249 million yuan in 2024, and is projected to incur another loss of around 200 million yuan in 2025 [3] - Revenue has been declining since 2022, with a year-on-year decrease of 21.3% in 2022, 39.6% in 2023, and 26.9% in 2024 [3] Industry Competition - The heparin industry is facing intensified competition, leading to a decline in revenue and low gross margins for the company's core heparin products [3] - The company is adjusting its sales strategy due to the nature of centralized procurement, which has resulted in a significant reduction in sales expenses [3] Product Development - The company is betting on its innovative drug, Aibennate, a GLP-1 single-target agonist, which has received acceptance for its market approval application for type 2 diabetes [4] - There is uncertainty regarding the approval timeline for Aibennate, as well as for its clinical trial application for weight loss indications [4] Regulatory Issues - The company's distributor was involved in a bribery case, which has raised concerns about its market practices [5][6] - The Shanghai market supervision authority found that the distributor engaged in commercial bribery, leading to a fine of 300,000 yuan [6]

格隆汇1月30日丨常山药业(300255.SZ)发布2025年度业绩预告，报告期内，归属于上市公司股东的净利 润为亏损1.90亿元～2.85亿元，上年同期亏损2.49亿元；扣除非经常性损益后的净利润为亏损1.91亿元～ 2.86亿元，上年同期亏损2.86亿元。2025年，肝素药品行业竞争加剧，公司核心产品肝素制剂系列产品 收入下降，同时受集采及原材料价格波动等因素综合影响，毛利率维持较低水平，这是公司亏损的主要 原因。 ...

证券日报网讯1月29日，常山药业（300255）发布公告称，公司预计2025年度归属于上市公司股东的净 利润为-28，500万元至-19，000万元，上年同期为-24，947.77万元。 ...

Core Viewpoint - Changshan Pharmaceutical (300255) forecasts a net profit attributable to shareholders of between -190 million to -285 million yuan for 2025, representing a year-on-year decline of 14.24% to 23.84% [1] Group 1: Financial Performance - The expected net profit for 2025 is projected to be between -190 million to -285 million yuan, indicating a significant decline compared to the previous year [1] - The decline in profit is attributed to intensified competition in the heparin drug industry and a decrease in revenue from core heparin product series [1] Group 2: Market and Operational Factors - The company cites the impact of centralized procurement policies and fluctuations in raw material prices as contributing factors to maintaining a low gross margin [1] - In response to the centralized procurement policy for its main products, the company is adjusting its sales strategy, optimizing sales team configurations, and reducing distributor levels and terminal maintenance costs [1] - Sales expenses for 2025 are expected to decrease significantly compared to the previous year due to refined management of market expenses [1]

Group 1 - The company Changshan Pharmaceutical (300255.SZ) has disclosed its performance forecast for the year 2025, expecting a net loss attributable to shareholders of between 190 million to 285 million yuan [1] - The net loss after deducting non-recurring gains and losses is projected to be between 191 million to 286 million yuan [1]

Core Viewpoint - The company expects a negative net profit for the fiscal year 2025, with a projected range for net profit attributable to shareholders between -285 million yuan and -190 million yuan, compared to -249 million yuan in the same period last year [1] Financial Performance - The expected net profit range for 2025 is between -286 million yuan and -191 million yuan, with the previous year's figure being -286 million yuan [1] - The company reported a net profit of -249 million yuan in the same period last year [1] Industry Context - The heparin drug industry is experiencing intensified competition, leading to a decline in revenue from the company's core heparin preparation products [1] - Factors such as centralized procurement and fluctuations in raw material prices are contributing to a low gross margin, which is a primary reason for the company's anticipated losses [1]

Financial Projections - The company expects a net profit in the range of -28,500 to -19,000 thousand CNY for 2025, representing a year-on-year decline of 14.24% to 23.84%[4] - The net profit after deducting non-recurring gains and losses is projected to be between -28,600 and -19,100 thousand CNY, with a slight increase of 0.12% to 33.30% compared to the previous year[4] - The financial data in the earnings forecast is preliminary and has not been audited by the accounting firm, with final figures to be disclosed in the 2025 annual report[8] Market Conditions - The main reason for the loss is the intensified competition in the heparin drug industry, leading to a decline in revenue from core heparin products and low gross margins due to centralized procurement and raw material price fluctuations[6] Sales and Expenses - Sales expenses are expected to decrease significantly in 2025 due to adjustments in sales strategies and optimization of sales team configurations following the implementation of centralized procurement policies[7] - The company has made provisions for credit and asset impairment based on preliminary assessments of the recoverability of accounts receivable and other receivables[7]