Core Viewpoint - The company is experiencing a decline in net profit and gross margin due to macroeconomic changes and intensified industry competition, but it is focusing on expanding its domestic and international business to drive high-quality growth in core operations. Company Performance - The company's main business includes early-stage drug evaluation, non-clinical research, and clinical testing and translational research [9] - The net profit attributable to shareholders and the net profit after deducting non-recurring gains and losses decreased compared to the same period last year [9] - In 2025, the company signed new orders worth RMB 1.135 billion, a year-on-year increase of 38.62%, with overseas orders amounting to RMB 74.772 million [9] - By the end of 2025, the company's backlog of orders reached RMB 1.248 billion, an increase of 28.23% from the end of 2024 [9] Industry Context - The CRO industry is facing downward pressure on sales order prices due to changes in the macro environment and increased competition [9] - The overall sales performance in the industry is being impacted, leading to a decline in gross margins for companies within the sector [9]

证券代码：688710 证券简称：益诺思 公告编号：2026-004 上海益诺思生物技术股份有限公司 关于筹划股权收购暨关联交易的提示性公告 本公司董事会及全体董事保证本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： 一、 本次交易概述 截至本公告披露日，医工总院直接持有益诺思 29,076,360 股，占益诺思已发 行总股本的 20.62%，医工总院为益诺思控股股东。 医工总院不属于失信被执行人。 公司为一家专业提供生物医药非临床研究服务为主的综合研发服务（CRO） 企业，为全球的医药企业和科研机构提供全方位的符合国内及国际申报标准的新 药研究服务。为进一步完善上下游产业链布局，构建一体化服务解决方案，建立 上海益诺思生物技术股份有限公司（以下简称"公司""益诺思"）与公司 控股股东中国医药工业研究总院有限公司（以下简称"医工总院"）的控股 子公司上海益临思医药开发有限公司（以下简称"益临思"或"目标公司"） 及其股东已签署股权收购相关的意向协议，拟以自有资金收购益临思控股 权，具体交易方案及交易条款以最终签署正式协议为准。 医工总 ...

上海益诺思生物技术股份有限公司 关于2025年年度业绩预告的公告 本公司董事会及全体董事保证本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: 上海益诺思生物技术股份有限公司（以下简称"公司"）财务部门初步测算， 预计 2025 年度将出现亏损，净利润与上年同期相比将下降 50%以上。 公司实现归属于上市公司股东的净利润为-3,984.86 万元到-2,678.89 万元， 与上年同期（法定披露数据）相比，将减少 17,456.47 万元到 18,762.44 万元。 预计 2025 年实现归属于上市公司股东扣除非经常性损益后的净利润为 -6,873.29 万元到-4,582.20 万元，与上年同期（法定披露数据）相比，将减少 17,120.81 万元到 19,411.90 万元。 一、本期业绩预告情况 （一）业绩预告期间 2025 年 1 月 1 日至 2025 年 12 月 31 日。 （二）业绩预告情况 证券代码：688710 证券简称：益诺思 公告编号：2026-005 经财务部门初步测算如下：（1）预计 2025 年实现归属于 ...

证券之星消息，益诺思发布业绩预告，预计2025年全年归属净利润亏损2678.89万元至3984.86万元。 公告中解释本次业绩变动的原因为： 益诺思2025年三季报显示，前三季度公司主营收入5.71亿元，同比下降35.33%；归母净利润-1478.81万 元，同比下降111.14%；扣非净利润-3475.94万元，同比下降128.8%；其中2025年第三季度，公司单季 度主营收入1.95亿元，同比下降29.39%；单季度归母净利润40.15万元，同比下降98.92%；单季度扣非 净利润-220.28万元，同比下降107.06%；负债率25.17%，财务费用-587.79万元，毛利率28.34%。 受前期宏观环境变化因素影响及行业竞争加剧的叠加影响，CRO 行业整体销售订单价格承压下行，公 司的主营业务毛利率同比下降，报告期内公司归属于上市公司股东的净利润以及归属于上市公司股东扣 除非经常性损益后的净利润较上年同期出现下滑。 2025 年度，公司加大国内外业务布局力度，通过多维举措驱动核心业务高质量发展。公司全年新签订 单金额为人民币 11.35 亿元，同比上涨 38.62%，其中海外市场新签订单金额为人民币 ...

益诺思公告，预计2025年年度将出现亏损，净利润与上年同期相比将下降50%以上。预计2025年实现归 属于上市公司股东的净利润为-3984.86万元到-2678.89万元，与上年同期相比，将减少1.75亿元到1.88亿 元。预计2025年实现归属于上市公司股东扣除非经常性损益后的净利润为-6873.29万元到-4582.2万元， 与上年同期相比，将减少1.71亿元到1.94亿元。 ...

Group 1 - The global biotech and pharmaceutical investment and financing activities are expected to rebound significantly in 2025, driven by the robust development of innovative drug technology platforms, leading to a comprehensive recovery in the CXO industry and sustained industry prosperity into 2026 [1] - The Chinese CRO market is projected to return to a growth trajectory in 2025, with a notable 19% year-on-year increase in IND numbers and a substantial rise in BD transaction amounts, indicating a vibrant domestic innovative drug market [1] - The demand side globally is showing a strong rebound, establishing a solid foundation for growth, with biotech financing reaching a historical high in Q4 2025 and multinational pharmaceutical companies experiencing a recovery in demand [1] Group 2 - WuXi AppTec (药明康德) is expected to report impressive performance in 2025, with adjusted net profit increasing by 41.3%, driven by the TIDES business, which has seen revenue growth exceeding 90% [2] - WuXi Biologics has reached a record high of 945 projects, with a 30% growth in dual monoclonal and ADC projects, indicating a strong pipeline for future commercialization [2] - WuXi AppTec's subsidiary, WuXi STA, is focusing on the ADC/XDC sector, with revenue growth exceeding 40% in 2025 and an increase in global market share to over 24% [2] Group 3 - The Chinese clinical CRO market is at a clear turning point, with Tigermed (泰格医药) benefiting from the industry recovery, as order prices stabilize and the domestic clinical pipeline grows alongside improved financing conditions [3] Group 4 - Global CDMO giants are accelerating expansion, with optimistic performance guidance; Fujifilm is expected to secure $8 billion in new orders in 2025, reflecting strong demand for large molecule CDMO services [4] - Charles River anticipates an improvement in order trends starting in H2 2025, with a forecast for revenue growth in its safety assessment business by H2 2026, serving as an early indicator of recovery in the CXO industry [4] Group 5 - Investment recommendations include focusing on leading clinical CRO platforms like Tigermed and niche leaders such as Pruis, as well as front-end CRO companies with shorter order fulfillment cycles and greater marginal elasticity [5] - In the CDMO sector, attention is advised on leading companies in the peptide supply chain, ADC beneficiaries, and those with forward-looking layouts in small nucleic acids, as well as companies with significant potential for marginal traction from large products [5]

A股三大股指1月28日集体高开。早盘两市窄幅整理，深成指午前拉升后转涨。午后三大股指窄幅震 荡，个股呈现普跌。 从盘面上看，黄金、有色金属板块掀涨停潮，油气、煤炭、化工、稀土行业走强。 至收盘，上证综指涨0.27%，报4151.24点；科创50指数跌0.08%，报1554.8点；深证成指涨0.09%，报 14342.89点；创业板指跌0.57%，报3323.56点。 Wind统计显示，两市及北交所共1736家上涨，3637家下跌，平盘有96家。 两市成交29654亿元，较前一交易日的28949亿元增加705亿元。其中，沪市成交13655亿元，比上一交易 日12894亿元增加761亿元，深市成交15999亿元。 据大智慧VIP，两市及北交所共有122只股票涨幅在9%以上，22只股票跌幅在9%以上。 有色金属再掀涨停潮，医药生物低开低走 在板块方面，黄金股的走强，带动有色金属板块再掀涨停潮，晓程科技（300139）、浩通科技 （301026）、常铝股份（002160）、锌业股份（000751）、白银有色（601212）、罗平锌电（002114） 等超30股涨停或涨超10%。 医药生物板块低开低走，必贝特（6887 ...

Core Viewpoint - The pharmaceutical sector is experiencing significant capital inflow, driven by the emergence of Nipah virus cases in India, which has heightened interest in vaccines and innovative drugs, alongside the continuous expansion of Chinese pharmaceutical companies in overseas markets [1] Group 1: Market Dynamics - On January 26, the pharmaceutical sector saw a notable increase in capital inflow, with market sentiment becoming more active due to multiple factors, including marginal improvements in industry fundamentals and supportive policies [1] - The emergence of overseas pandemic events, such as Nipah virus infections, has reignited market focus on vaccines, antiviral drugs, and public health defense systems, reinforcing long-term investment confidence in the pharmaceutical sector, particularly in innovative drugs, vaccines, and diagnostics [1] Group 2: Structural Opportunities - Recent institutional insights indicate that structural opportunities within the pharmaceutical sector are becoming clearer, with the strong momentum of innovative drugs continuing to be a core driver of the sector [1] - By January 2026, several companies, including Yilian Biotech and Rongchang Biotech, have achieved licensing agreements, validating the global competitiveness of Chinese innovative drugs, especially in cutting-edge technology areas like ADC, bispecific antibodies, and small nucleic acids [1] Group 3: Sector Developments - Progress in specific subfields is enhancing confidence in the sector, with small nucleic acid drugs showing positive clinical data in chronic hepatitis B and metabolic diseases, attracting accelerated investments from leading domestic and international companies [2] - Breakthroughs in oral immunomodulatory drugs targeting new pathways provide new treatment options for difficult diseases such as psoriasis and ulcerative colitis, warranting ongoing monitoring of related domestic companies' clinical advancements [2] - The GLP-1 class products maintain high demand in the weight loss and diabetes markets, with a gradually forming domestic pricing system and rapid overseas market expansion opening up further growth opportunities [2] Group 4: Investment Strategies - Institutions suggest investors focus on the following main lines for pharmaceutical sector investments: - Concentrate on cutting-edge areas of innovative drugs, particularly in the accelerating overseas expansion of bispecific antibodies, ADC, and small nucleic acids, such as YK Pharma and Sunlight Novo [3] - Capitalize on innovative breakthroughs in tumor therapeutic vaccines [3] - Invest in the CXO and research service industry chain that supports innovative research and development, such as Yinos and Zhaoyan New Drug [3] - Pay attention to traditional Chinese medicine and pharmacy sectors with overseas potential or high dividend defensive attributes, such as Zoli Pharmaceutical, Dong'e Ejiao, and Yifeng Pharmacy [3]

Market Overview - The medical services sector experienced a decline of 0.25% on January 22, with Chengda Pharmaceutical leading the drop [1] - The Shanghai Composite Index closed at 4122.58, up 0.14%, while the Shenzhen Component Index closed at 14327.05, up 0.5% [1] Stock Performance - Notable gainers in the medical services sector included: - Yinos (688710) with a closing price of 66.35, up 5.96% [1] - Hite Bio (300683) at 30.94, up 4.28% [1] - Puri Eye (301239) at 34.79, up 3.73% [1] - Conversely, significant decliners included: - Chengda Pharmaceutical (301201) at 39.67, down 4.16% [2] - Nanmo Bio (688265) at 48.21, down 3.17% [2] - Pruis (301257) at 66.99, down 2.63% [2] Capital Flow - The medical services sector saw a net outflow of 313 million yuan from institutional investors, while retail investors experienced a net inflow of 89.45 million yuan [2] - The capital flow for specific stocks showed: - Innovation Medical (002173) had a net inflow of 89.74 million yuan from institutional investors [3] - Kanglong Chemical (300759) saw a net inflow of 44.95 million yuan from institutional investors [3] - Chengda Pharmaceutical (301201) had a net outflow of 20.46 million yuan from retail investors [3]

1月20日，益诺思跌5.01%，截至发稿，报61.00元/股，成交6270.98万元，换手率1.11%，总市值86.00亿 元。 资料显示，上海益诺思生物技术股份有限公司位于中国(上海)自由贸易试验区郭守敬路199号106室，成 立日期2010年5月12日，上市日期2024年9月3日，公司主营业务涉及专业提供生物医药非临床研究服务 为主的综合研发服务(CRO)。主营业务收入构成为：非临床96.31%，临床3.42%，其他0.27%。 数据显示，汇添富基金旗下1只基金位居益诺思十大流通股东。汇添富医药保健混合（470006）三季度 新进十大流通股东，持有股数112.15万股，占流通股的比例为1.24%。根据测算，今日浮亏损失约 361.13万元。 汇添富医药保健混合（470006）成立日期2010年9月21日，最新规模24.86亿。今年以来收益8.21%，同 类排名2070/8848；近一年收益35.1%，同类排名3677/8093；成立以来收益166.1%。 汇添富医药保健混合（470006）基金经理为郑磊。 截至发稿，郑磊累计任职时间11年38天，现任基金资产总规模80.93亿元，任职期间最佳基金回报 58 ...