格隆汇1月29日丨特宝生物(688278.SH)公布，公司于近日获得工业和信息化部颁发的《制造业单项冠军 企业证书》，公司凭借聚乙二醇干扰素α-2b注射液（商品名：派格宾）的产品技术优势和市场地位被认 定为工业和信息化部第九批制造业单项冠军企业。 ...

关于获得第九批国家级制造业单项冠军企业认定的 自愿性披露公告 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。 一、基本情况 证券代码：688278 证券简称：特宝生物 公告编号：2026-008 厦门特宝生物工程股份有限公司 1 股东创造更大的价值。 本次公司被认定为第九批国家级制造业单项冠军企业，不会对当期经营业 绩产生重大影响，敬请广大投资者谨慎决策，注意防范投资风险。 特此公告。 厦门特宝生物工程股份有限公司 厦门特宝生物工程股份有限公司（以下简称"公司"）于近日获得工业和 信息化部颁发的《制造业单项冠军企业证书》，公司凭借聚乙二醇干扰素α-2b 注射液（商品名：派格宾）的产品技术优势和市场地位被认定为工业和信息化 部第九批制造业单项冠军企业。 二、对公司的影响 制造业单项冠军企业是指长期专注于制造业特定细分领域，生产技术或工 艺水平国际先进，单项产品（生产性服务）市场占有率位居全球或国内前列的 企业，是制造业竞争力的重要体现，也是加快发展新质生产力的中坚力量。 公司以临床需求为导向，聚焦免疫和代谢领域拓展战略布局，持 ...

Group 1 - The biopharmaceutical sector experienced a decline of 1.98% on January 28, with Baipusais leading the drop [1] - The Shanghai Composite Index closed at 4151.24, up 0.27%, while the Shenzhen Component Index closed at 14342.9, up 0.09% [1] - Notable gainers in the biopharmaceutical sector included Kanghua Biological, which rose by 3.02% to a closing price of 74.70, and Liaoning Chengda, which increased by 2.55% to 12.86 [1] Group 2 - Baipusais saw a significant drop of 10.57%, closing at 58.18, with a trading volume of 57,400 shares and a transaction value of 342 million [2] - Other notable decliners included Kangla Weishi, down 6.16% to 10.97, and Jinchuan Protein, down 5.90% to 46.58 [2] - The biopharmaceutical sector experienced a net outflow of 1.252 billion in main funds, while retail investors saw a net inflow of 653 million [2] Group 3 - Rongchang Biological had a net inflow of 38 million from main funds, representing 6.49% of its total, while it faced a net outflow of 58.99 million from retail investors [3] - Liaoning Chengda also saw a net inflow of 14.86 million from main funds, but a net outflow of 15.01 million from retail investors [3] - The overall trend indicates a mixed sentiment in the biopharmaceutical sector, with main funds withdrawing while retail investors are actively buying [3]

Core Viewpoint - Teva Biopharma (688278.SH) plans to raise up to 1.533 billion yuan through convertible bonds to enhance its main business, focusing on new drug research and development, biotechnology innovation center construction, and innovative drug production expansion projects [1][2]. Group 1: Fundraising and Investment Plans - The total amount to be raised from the convertible bonds is capped at 1.533 billion yuan, which will be allocated to new drug R&D, biotechnology innovation center construction, and production expansion projects [2][3]. - This marks the first fundraising initiative since the company went public in January 2020, during which it raised 383 million yuan [2]. - The net proceeds from the fundraising will be used to enhance the company's R&D capabilities and expand its product pipeline, thereby strengthening its business scale and risk resilience [2][3]. Group 2: Company Performance and Growth - Teva Biopharma has shown robust performance, with revenue increasing approximately 5.3 times from 448 million yuan in 2018 to 2.817 billion yuan in 2024, and net profit rising over 50 times from 16 million yuan to 828 million yuan during the same period [6]. - In the first three quarters of 2025, the company achieved a revenue of 2.48 billion yuan, a year-on-year increase of 26.85%, and a net profit of 666 million yuan, up 20.21%, both setting historical records for the same period [6]. - The company's gross margin remains high at around 93%, indicating strong profitability [6]. Group 3: Research and Development Focus - Teva Biopharma is committed to R&D, with R&D expenses exceeding 10% of revenue in both 2023 and 2024, and a significant year-on-year increase of 44.48% in R&D expenses to 279 million yuan in the first three quarters of 2025 [1][5]. - The company has successfully developed three Class 1 new biological drugs and is actively pursuing innovative drug development in areas such as small nucleic acid drugs, antibody drugs, mRNA vaccines, and gene therapy [5][6]. - The planned investment in the new drug R&D project is 859 million yuan, focusing on expanding existing core product indications and accelerating the development of innovative drugs [3][4]. Group 4: Strategic Initiatives and Future Outlook - The biotechnology innovation center project aims to enhance the company's capabilities in product innovation, core technology R&D, and technology transfer, with a total investment of 471 million yuan [3]. - The production expansion project is expected to improve the production capacity of the drug Yipeisheng, addressing the growing market demand for treatments related to growth hormone deficiency [3][4]. - Teva Biopharma is also expanding its global footprint by acquiring assets from Skyline Therapeutics Limited, indicating a strategic move towards integrating cutting-edge technology resources [5].

Core Viewpoint - The approval of "Longpei Growth Hormone," a long-acting growth hormone injection, marks a significant development in the market for growth hormone treatments in China, aiming to address the needs of children with growth hormone deficiency [2][3]. Group 1: Product Overview - "Longpei Growth Hormone" is the fourth long-acting growth hormone approved for sale in China, following its approval in the US and EU four years ago [2]. - The product requires only one injection per week, contrasting with short-acting versions that require daily injections [2]. - The product is positioned in the mid-to-high-end market, with the company emphasizing a focus on quality rather than engaging in price wars [2][3]. Group 2: Market Dynamics - The introduction of long-acting growth hormones into the National Medical Insurance Directory is expected to enhance accessibility, with prices potentially dropping by about 50% after insurance coverage [3]. - The market is evolving into two segments: "insurance-inclusive" and "high-end quality," with the company targeting the unmet demand in the mid-to-high-end segment [3][4]. - The company has established partnerships with major distributors and healthcare providers to ensure effective market penetration and reach [3]. Group 3: Clinical and Storage Advantages - "Longpei Growth Hormone" has demonstrated superior efficacy in clinical trials, showing a statistically significant increase in annual growth rate compared to traditional daily injections, potentially offering an additional height gain of approximately 1 cm per year [4]. - The product can be stored at room temperature for up to six months without preservatives, providing a logistical advantage over other long-acting growth hormones that require refrigeration [5].

Core Viewpoint - The approval of Weisheng Pharmaceutical's core product, Longpei Growth Hormone Injection, marks the company's first commercialized innovative product, but it faces significant competition in the long-acting growth hormone market [3][4]. Market Overview - The Chinese growth hormone market has seen explosive growth, increasing from 4 billion yuan in 2018 to 11.6 billion yuan in 2023, with a compound annual growth rate (CAGR) of 23.9%, and is expected to reach 28.6 billion yuan by 2030 [3]. - The market is characterized by a shift in dosage forms, with long-acting growth hormones gaining traction due to better patient compliance compared to short-acting formulations [3][4]. Competitive Landscape - The competition in the long-acting growth hormone market is intensifying, with existing players including Changchun High-tech, Teva Biopharma, and Novo Nordisk, all of which have products already included in the national medical insurance directory [4][5]. - The entry of long-acting growth hormones into the insurance directory has led to significant price reductions, with some products seeing price drops of over 50%, thereby reducing the financial burden on patients and expanding market share [5]. Company Strategy - As a new entrant, Weisheng Pharmaceutical aims to differentiate itself by emphasizing that Longpei Growth Hormone is the only long-acting growth hormone proven to be superior to daily injections in Phase III studies, providing clear prescription guidance for doctors [6]. - The company recognizes that most growth hormone users are still self-paying, and it plans to collaborate with high-end private clinics to better reach target customers [6]. - The current penetration rate of growth hormones among children in China remains low, indicating a need for increased product awareness and education among potential users [6].

Core Insights - The competition in the long-acting growth hormone market is intensifying, with Weisheng Pharmaceutical's (02561.HK) core product, Longpei growth hormone injection, recently approved for treating children's growth hormone deficiency, marking it as the fourth long-acting growth hormone approved in China [1][2] Industry Overview - The Chinese growth hormone market has seen significant growth, expanding from 4 billion yuan in 2018 to 11.6 billion yuan in 2023, with a compound annual growth rate (CAGR) of 23.9%, and is projected to reach 28.6 billion yuan by 2030 [3] - The market is experiencing a shift in dosage forms, with increasing attention from parents due to "height anxiety" regarding their children's growth, leading to heightened demand for growth hormone treatments [3] Competitive Landscape - Existing competitors in the long-acting growth hormone market include Changchun High-tech (000661.SZ) with Jinsai Pharmaceutical, Teva Biologicals (688278.SH), and Novo Nordisk, with some products already included in the national medical insurance directory, resulting in significant price reductions [3] - The entry of long-acting growth hormones into the insurance directory has led to price drops of over 50%, alleviating the financial burden on patients and potentially expanding market share [3] Company Strategy - As a new market entrant, Weisheng Pharmaceutical aims to differentiate itself by promoting Longpei growth hormone as the only long-acting option proven superior to daily injections in Phase III studies, providing clear prescription guidance for doctors [4] - The majority of growth hormone users are still self-paying, and despite some long-acting products being covered by insurance, this trend is expected to continue, with a focus on partnerships with private clinics to reach target customers [4] - The current penetration rate of growth hormones among children in China remains low, indicating a need for increased product awareness and education among potential users [4]

1月27日，特宝生物大宗交易成交11万股，成交额836万元，占当日总成交额的4.75%，成交价76元，较 市场收盘价76元持平。 | 交易日期 | 证券简称 | 证券代码 | 成交价(元) 成交金额(万元) 成交量( *) 买入营业部 | | | 卖出营业部 | 是否为专场 | | --- | --- | --- | --- | --- | --- | --- | --- | | 026-01-27 | 特宝生物 | 688278 | 836 76 | | 合肥管家材料 | 公費是黎麗學契 | ка | ...

本报（chinatimes.net.cn）记者于娜 北京报道 亿元研发血本无归，凯因科技（维权）乙肝药闯关失败引发连锁危机。 近日，凯因科技（688687.SH）一纸公告引发资本市场震动。公司宣布主动撤回培集成干扰素α-2注射液 （商品名：派益生）新增乙肝适应症的上市申请，并对该项目相关开发支出全额计提1.11亿元资产减值 准备。这一计提金额直接吞噬了公司2025年前三季度全部净利润，当日公司股价应声暴跌超13%，投资 者用脚投票表达了对公司研发能力及战略决策的担忧。 公告显示，此次撤回申请并非放弃该适应症，凯因科技将进一步补充临床病例研究，待条件成熟后重新 提交注册申请。但巨额减值计提仍引发市场广泛疑问声音：若项目前景可期，为何急于全额计提？公司 对该项目前景的信心如何？对此，《华夏时报》记者联系采访凯因科技，截至发稿尚未收到回复。 中国作为乙肝大国，慢性HBV感染人群高达7500万，其中慢性乙型肝炎患者约2800万人，市场潜力巨 大。但这片蓝海背后，是极高的研发壁垒与激烈的竞争格局。派益生作为一款"老药"，试图通过拓展适 应症分食市场，最终却因临床数据不达标铩羽而归，更折射出乙肝药物研发赛道的残酷竞争与监 ...

[Table_Reportdate] 2026年01月27日 [证券分析师： Table_Authors] 张季恺 S0630521110001 zjk@longone.com.cn 证券分析师： 王洋 S0630513040002 wangyang@longone.com.cn 联系人： 陈伟业 cwy@longone.com.cn 联系人： 邓尧天 dytian@longone.com.cn [晨会纪要 Table_NewTitle] 20260127 重点推荐 财经要闻 晨 会 纪 要 证券研究报告 HTTP://WWW.LONGONE.COM.CN 请务必仔细阅读正文后的所有说明和声明 [table_summary] ➢ 1.药品零售新政出台，赋能行业高质量发展——医药生物行业周报（2026/01/19- 2026/01/25） ➢ 2.2026年全球AI服务器出货同比有望增超28%，AI相关芯片涨价持续——电子行业周报 2026/1/19-2025/1/25 ➢ 1.商务部：将优化实施消费品以旧换新，促进家电等大宗耐用商品消费 ➢ 2.上期所调整白银、锡期货相关合约交易限额 ➢ 3.香港特别行政区行 ...