| 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 | | --- | --- | --- | --- | --- | --- | --- | --- | | 600276 恒瑞医药 | | 3.33 Z | 5.10% | -2.89 Z | -4.43% | -4421.19万 | -0.68% | | 000963 华东医药 | | 1.15 Z | 16.50% | -7275.41万 | -10.40% | -4271.00万 | -6.10% | | 000813 德展健康 | | 1.02亿 | 50.51% | -6009.16万 | -29.70% | -4212.39万 | -20.82% | | 300436 | 广生堂 | 1.01亿 | 5.29% | -2204.37万 | -1.16% | -7860.17万 | -4.13% | | 688382 益方生物 | | 3813.99万 | 13.10% | -337.73万 | -1.16% | -3476.26万 | -11.94% | | 600 ...

证券代码：600276 证券简称：恒瑞医药 公告编号：临 2026-015 江苏恒瑞医药股份有限公司 关于药品上市许可申请获受理的提示性公告 阿帕替尼和 TACE 组 BIRC 评估的 PFS 达到了显著有临床意义的改善，且已观察到 OS 获益趋势。该联合疗法有望成为不可切除肝细胞癌患者的临床治疗新选择。 三、药品的已获批适应症情况 注射用卡瑞利珠单抗已在国内获批多个适应症，分别为：1.本品用于既往接 受过索拉非尼和/或仑伐替尼治疗和/或含奥沙利铂系统化疗的晚期肝细胞癌患 者的治疗。2.本品联合培美曲塞和卡铂适用于表皮生长因子受体（EGFR）基因突 变阴性和间变性淋巴瘤激酶（ALK）阴性的、不可手术切除的局部晚期或转移性 非鳞状非小细胞肺癌（NSCLC）的一线治疗。3.本品用于既往接受过一线化疗后 疾病进展或不可耐受的局部晚期或转移性食管鳞癌患者的治疗。4.本品用于既往 接受过二线及以上化疗后疾病进展或不可耐受的晚期鼻咽癌患者的治疗。5.本品 联合顺铂和吉西他滨用于局部复发或转移性鼻咽癌患者的一线治疗。6.本品联合 紫杉醇和顺铂用于不可切除局部晚期/复发或转移性食管鳞癌患者的一线治疗。7. 本品联合紫杉醇和卡 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 江蘇恒瑞醫藥股份有限公司 呈交日期： 2026年1月29日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 | 否 | | | 證券代號 (如上市) | 600276 | 說明 | | A股（於上海證券交易所上市） | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括 ...

证券代码：600276 证券简称：恒瑞医药 公告编号：临 2026-016 江苏恒瑞医药股份有限公司 关于获得药物临床试验批准通知书的公告 申请事项：临床试验 受 理 号：CXHL2501214、CXHL2501215、CXHL2501216 审批结论：根据《中华人民共和国药品管理法》及有关规定，经审查，2025 年 11 月 5 日受理的 HRS-7535 片符合药品注册的有关要求，同意本品开展Ⅲ期临 床试验。申请的适应症：本品拟用于治疗慢性肾脏病。 二、药物的其他情况 HRS-7535 片是一种新型口服小分子胰高血糖素样肽-1 受体（GLP-1R）激动 剂，可以通过激活人的 GLP-1R，促进胰腺的胰岛素分泌和降低胰高血糖素分泌 并抑制胃排空，还可以通过影响中枢增强饱腹感和抑制食欲，直接减少能量的摄 入。临床前数据显示 HRS-7535 可显著改善动物慢性肾脏病（CKD）症状。全球范 围内尚无口服小分子 GLP-1R 激动剂上市。截至目前，HRS-7535 片相关项目累计 研发投入约 36,940 万元（未经审计）。 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 ...

Core Viewpoint - Heng Rui Medicine announced that it and its subsidiary Suzhou Shengdiya Biopharmaceutical Co., Ltd. received a "Acceptance Notice" from the National Medical Products Administration for the new indication application of its innovative drug, injection Karilizumab combined with Apatinib, for the treatment of unresectable hepatocellular carcinoma [1] Group 1 - The new indication involves the use of injection Karilizumab in combination with Apatinib and transarterial chemoembolization (TACE) for treating unresectable hepatocellular carcinoma [1]

恒瑞医药1月29日公告，公司子公司山东盛迪医药有限公司收到国家药品监督管理局核准签发关于HRS- 7535片的《药物临床试验批准通知书》，将于近期开展临床试验。申请的适应症：本品拟用于治疗慢性 肾脏病。 ...

智通财经APP讯，恒瑞医药(01276)发布公告，于2026年1月29日，该公司斥资人民币2107.4万元回购 37.16万股A股。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 江蘇恒瑞醫藥股份有限公司 呈交日期： 2026年1月29日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 根據《主板上市規則》第13.25C條 / 《GEM上市規則》第17.27C條，我們在此確認，據我們所知所信，第一章節所述的每項股份發行或庫存股份出售或轉讓已獲發行人董事會正式授權批准，並遵 照所有適用上市規則、法律及其他監管規定進行，並在適用的情況下： (註7) (i) 上市發行人已收取其在是次股份發行或庫存股份出售或轉讓應得的全部款項； (viii) 有關債券、借貸股份、票據或公司債券的信託契約/平邊契據經已製備及簽署，有關詳情已送呈公司註冊處處長存檔（如法律如此規定）。 | 第一章節 | | | | | | | | | --- ...

Core Viewpoint - China Galaxy Securities is optimistic about the pharmaceutical industry's investment opportunities in 2026, focusing on hard technology in medicine, innovation, and overseas expansion, while seeking alpha in niche segments [1] Group 1: Investment Trends - In Q4 2025, public fund holdings in pharmaceuticals decreased, indicating an overall low allocation level [1] - The market value of pharmaceutical theme funds decreased by 9.73% to 205.9 billion yuan, which is 66.54% higher than the average since 2019 [1] - The market value of the pharmaceutical biotechnology sector fell by 18.81% to 312.5 billion yuan, with a holding ratio of 8.12%, below the historical average by 3.89 percentage points [1] Group 2: Stock Performance - The top five pharmaceutical stocks held by public funds in Q4 2025 saw significant reductions in both the number of funds and total market value, with notable declines in stocks like Heng Rui Medicine and WuXi AppTec [2] - The concentration of holdings has shifted from innovative drugs to medical devices and services, indicating a change in market investment focus [2] Group 3: Industry Data Overview - The pharmaceutical manufacturing industry's revenue has shown a slight decline, with a year-on-year decrease of 1.2% in Q4 2025 [3] - Medical service volumes remained stable, with a total of 1.86 billion outpatient visits in early 2025, reflecting a 0.1% year-on-year decrease [3] - The overall operation of the medical insurance fund has been stable, with total income of 2.632 trillion yuan and total expenditure of 2.110 trillion yuan from January to November 2025 [3] Group 4: Market Comparison - The pharmaceutical industry has underperformed compared to the CSI 300 index, with a rolling P/E ratio of 38.19 compared to 14.14 for the CSI 300, indicating a premium of 170.14% over the index [3] - The SW pharmaceutical biotechnology index increased by 1.44% from early 2024 to January 28, 2026, while the CSI 300 rose by 37.15%, showing a relative underperformance of 35.71% for the pharmaceutical sector [3]

Market Overview - In Q4 2025, market volatility increased, with A-shares and Hong Kong stocks ending the year amidst fluctuations. The Shanghai Composite Index rose by 2.22%, while the CSI 300 Index fell by 0.23%, and the ChiNext Index decreased by 1.08%. The Hang Seng Index dropped by 4.56%, and the Hang Seng China Enterprises Index fell by 6.72% [1][18]. Sector Performance - Despite the overall market performance being lackluster, there was a stark contrast within sectors. The technology growth sectors, represented by AI computing power and semiconductors, performed exceptionally well, while industries such as real estate, pharmaceuticals, and computers faced pressure [1][19]. Fund Manager Strategies - Star fund managers like Fu Pengbo and Li Xiaoxing achieved significant excess returns in Q4 2025, with Fu's Ruiyuan Growth Value Fund and Li's Yinhua Small Cap Select both rising over 60% for the year, driven by heavy investments in AI computing power and semiconductors [2][19]. - Balanced allocation funds, such as Zhu Shaoxing's Fuguo Tianhui Select Growth A, showed stable performance with over 20% annual growth, benefiting from diversified holdings across finance, consumption, and manufacturing sectors [2][19]. Technology Sector Focus - Fu Pengbo's Ruiyuan Growth Value Fund increased its allocation to data center liquid cooling and related companies, with the top ten holdings now concentrated at 70.38%. The fund's top three holdings include Xinyi Solar, Shenghong Technology, and CATL [4][22]. - Li Xiaoxing's Yinhua Small Cap Select emphasized AI hardware innovation and application investment opportunities, with seven of its top ten holdings in the semiconductor industry, reflecting a shift towards advanced process breakthroughs and domestic chip investments [23][24]. Traditional Value Sector - Fund managers like Zhang Kun, Liu Yanhun, and Ge Lan continued to focus on traditional assets such as consumption and pharmaceuticals. Zhang's E-Fund Blue Chip Select maintained a stable stock position, emphasizing confidence in the long-term prospects of the Chinese consumer market [24][25]. - Ge Lan's China Europe Medical Health A faced net value pressure in Q4 2025, with all top ten holdings experiencing negative returns, despite previous positive performance [26][27]. Policy and Market Sentiment - Fund managers noted that "anti-involution" policies are becoming key variables affecting corporate fundamentals, with expectations for improved business environments and competition dynamics [31]. - Despite market rebounds and rising valuations, many managers believe that equity assets still hold significant allocation value, particularly in light of changes in traditional high-yield channels [32]. Importance of Stock Selection - The emphasis on stock selection has intensified, with fund managers highlighting the need for deep research and careful selection of companies with core advantages, especially in a concentrated market environment [33].