证券日报网讯 1月20日，兴齐眼药在互动平台回答投资者提问时表示，公司当前主营业务聚焦于国内市 场，相关海外合作事宜尚处于沟通洽谈阶段，达到信息披露节点时，公司将依规公告。未来，公司将继 续通过加大研发投入、优化产品结构、提高生产效率、加强市场开拓力度等方式持续提升市场份额，为 投资者创造长期价值。 （编辑 丛可心） ...

Market Overview - The chemical pharmaceutical sector experienced a decline of 0.77% on January 20, with Kangzhi Pharmaceutical leading the drop [1] - The Shanghai Composite Index closed at 4113.65, down 0.01%, while the Shenzhen Component Index closed at 14155.63, down 0.97% [1] Stock Performance - Notable gainers in the chemical pharmaceutical sector included: - Hanshang Group (Code: 600774) with a closing price of 11.64, up 10.02% and a trading volume of 438,600 shares, totaling 489 million yuan [1] - Tainkang (Code: 301263) with a closing price of 32.71, up 7.04% and a trading volume of 138,300 shares, totaling 437 million yuan [1] - Sitaili (Code: 603520) with a closing price of 10.58, up 2.52% and a trading volume of 210,900 shares, totaling 225 million yuan [1] - Conversely, significant decliners included: - Kangyi Pharmaceutical (Code: 300086) with a closing price of 10.44, down 5.86% and a trading volume of 447,100 shares [2] - Dizhe Pharmaceutical (Code: 688192) with a closing price of 62.72, down 5.10% and a trading volume of 42,700 shares [2] - Guangji Pharmaceutical (Code: 000952) with a closing price of 7.52, down 4.93% and a trading volume of 292,200 shares [2] Capital Flow - The chemical pharmaceutical sector saw a net outflow of 1.348 billion yuan from institutional investors, while retail investors contributed a net inflow of 1.109 billion yuan [2] - The capital flow for specific stocks indicated: - Huabang Health (Code: 002004) had a net inflow of 88.38 million yuan from institutional investors, but a net outflow of 73.07 million yuan from retail investors [3] - Fuxiang Pharmaceutical (Code: 300497) recorded a net inflow of 57.88 million yuan from institutional investors, with a net outflow of 102 million yuan from retail investors [3] - Xinqiao Pharmaceutical (Code: 000756) had a net inflow of 25.08 million yuan from institutional investors, but also saw a net outflow of 15.54 million yuan from retail investors [3]

Investment Rating - The industry rating is neutral, indicating that the overall return is expected to be between -5% and 5% relative to the CSI 300 index over the next six months [9]. Core Insights - The pharmaceutical sector experienced a decline of 0.52% on January 19, 2025, underperforming the CSI 300 index by 0.57 percentage points, ranking 28th among 31 sub-industries [4]. - Notable performers within the pharmaceutical sub-industries included offline pharmacies (+2.39%) and blood products (+0.11%), while sectors such as medical R&D outsourcing (-1.77%) and vaccines (-1.10%) lagged behind [4]. - Takeda's new drug Oveporexton has received acceptance for its market application in China, targeting narcolepsy type 1 (NT1) and showing promising results in clinical trials [5]. Sub-industry Summary - Chemical Pharmaceuticals: No rating [3] - Traditional Chinese Medicine: No rating [3] - Biopharmaceuticals II: Neutral [3] - Other Pharmaceuticals: Neutral [3]

Summary of Key Points from the Conference Call Industry Overview - The report covers the pharmaceutical industry in China, with specific focus on stock performance and company announcements within the sector. Market Performance - The Shanghai Composite Index closed at 4114.00 points, with an increase of 0.29% [1] - The Shenzhen Component Index closed at 14294.05 points, with an increase of 0.09% [1] - The ChiNext Index closed at 3337.61 points, showing a decrease of 0.70% [1] - The Shenwan Pharmaceutical Industry Index closed at 8732.25 points, reflecting a decrease of 0.80% [1] - The Hang Seng Healthcare Index in Hong Kong closed at 4094.97 points, with a decline of 2.81% [1] Top Gainers and Losers in A-Shares - Top three gainers: - Sunflower (19.90%) [1] - Wanzhe Co. (10.02%) [1] - Tianmu Pharmaceutical (9.99%) [1] - Top three losers: - Luyuan Pharmaceutical (-10.01%) [1] - Zhifei Biological (-7.19%) [1] - Shanghai Yizhong (-6.88%) [1] Company Announcements - **Tianjin Pharmaceutical**: Vice General Manager Chen Hong has resigned [1] - **Eddie Pharmaceutical**: ADC205 tablets have received clinical trial approval [2] - **Mingde Biological**: Plans to increase capital and acquire 51% stake in Hunan Lanyi, aiming to build a collaborative ecosystem for critical and chronic disease management [1] - **Lanfang Medical**: Subsidiary Lithonic's intravascular shockwave treatment system has obtained CE certification [1] - **Ruimaite**: The company forecasts a net profit attributable to shareholders for 2025 between 190 million to 235 million yuan, representing a year-on-year growth of 22.28% to 51.24%. The net profit after deducting non-recurring gains and losses is expected to be between 128.5 million to 164 million yuan, with a growth of 38.97% to 77.37%. Revenue is projected to reach between 1.08 billion to 1.2 billion yuan, compared to 843.48 million yuan in the previous year [1]

Important Events - Yidian Tianxia has resumed trading after the suspension for verification [1] - Jianghuai Microelectronics will have its actual controller changed to Shanghai State-owned Assets Supervision and Administration Commission, and its stock has resumed trading [1] - Huas Technology's actual controller has changed to Zheng Jianbo, and its stock has resumed trading [1] - Yingfang Microelectronics plans to acquire 100% shares of Shanghai Xiaokeli and Fujide China, which is expected to constitute a major asset restructuring, and its stock has resumed trading [1] - Hualing Cable has terminated the acquisition of Xingxin Aerospace's controlling stake, which provides supporting products for Shenzhou series spacecraft, Chang'e series detectors, and various launch vehicles [1] - Rongsheng Development's subsidiary plans to acquire 100% equity of Yingde Jihong and Yingde Jiyue for 40 million yuan [1] - Donghua Software plans to establish a wholly-owned subsidiary, Donghua Zhizhi, with an investment of 300 million yuan [1] - Zhongwei Semiconductor is about to launch its first non-volatile memory chip [1] - Xingqi Eye Medicine's SQ-24071 eye drops have received clinical trial approval [1] Contracts & Project Bids - Pingzhi Information has pre-qualified for an intelligent computing service project worth approximately 489 million yuan [1] - Nanshan Aluminum plans to invest 437 million USD to build a 250,000-ton annual electrolytic aluminum project in Indonesia [1] - Yian Technology's controlling company has signed a project entry contract to create a benchmark project for high-quality amorphous alloy (liquid metal) [1] - Jiangxi Copper has signed a three-year cooperation framework agreement with the Ordnance Material Department, expecting to sell 9.7 billion yuan worth of copper rods and other products annually [1] - Wutong Holdings' wholly-owned subsidiary did not win the bid for the Agricultural Bank of China mobile SMS long number agency service project, which is expected to have a significant adverse impact on the company's future operating performance [1] Operations & Performance - Hunan Yuneng expects a net profit increase of 94%-136% year-on-year in 2025, driven by a rebound in lithium carbonate prices enhancing overall profitability [1] - Jilin Carbon Valley anticipates a net profit increase of 92.81%-135.66% year-on-year in 2025 [1] - Fulai Anticipates a net profit increase of 81.67%-127.08% year-on-year in 2025 [1] - Dingtong Technology expects a net profit increase of 120% year-on-year in 2025, with significant growth in high-speed communication product business [1] - Chengdu Huamei anticipates a net profit increase of 74%-109% year-on-year in 2025, with Q4 net profit expected to grow by 458%-614% quarter-on-quarter [1] - Anfu Technology expects a net profit increase of 28.55%-50.91% year-on-year in 2025 [1] - Dinglong Co. anticipates a net profit increase of 34.44%-40.20% year-on-year in 2025 [1] - Mingtai Aluminum expects a net profit increase of 12%-14% year-on-year in 2025 [1] - Huace Testing anticipates a net profit increase of 10%-11% year-on-year in 2025 [1] - Xianglu Tungsten Industry expects a net profit of 125 million to 180 million yuan in 2025, with tungsten metal raw material prices continuing to rise throughout the year [1] Financing & Capital Increase - Jiangxi Copper plans to register and issue debt financing instruments not exceeding 25 billion yuan [2] - Goldwind Technology has terminated the public REITs application and issuance work [2] - Huichuan Technology is planning to issue H-shares and list on the Hong Kong Stock Exchange [2]

来源：中信建投证券 摘要：昨日A股呈现"指数微涨、板块分化"的格局，两市成交额2.73万亿元，虽较前两交易日3万亿高位 略有缩量，但仍处于历史活跃区间，显示政策红利下市场流动性充裕。今日市场大概率延续震荡上行态 势，4100点关口支撑力度将持续接受考验，具体内容详见全文。 昨日三大指数涨跌不一，沪指走势较强，创业板指冲高回落。沪深两市成交额2.71万亿，较上一个交易 日缩量3179亿。盘面上，全市场超3500只个股上涨。从板块来看，电网设备概念爆发，十余只成分股涨 停，机器人概念震荡拉升，贵金属板块涨幅居前，旅游酒店概念走强，商业航天概念局部活跃。下跌方 面，CPO概念震荡下挫。截至收盘，沪指涨0.29%，深成指涨0.09%，创业板指跌0.7%。 长征十二号运载火箭发射成功 卫星互联网组网加速行业步入快速发展期； AI需求向好叠加成本上涨 覆铜板价格上调。 昨日A股呈现"指数微涨、板块分化"的格局，两市成交额2.73万亿元，虽较前两交易日3万亿高位略有缩 量，但仍处于历史活跃区间，显示政策红利下市场流动性充裕。盘面核心看点在于结构性机会的集中爆 发。电气设备板块掀涨停潮，背后是国家电网"十五五"4万亿元投资计 ...

Core Viewpoint - The competition among domestic pharmaceutical companies in the field of myopia prevention drugs is intensifying, with Xingqi Eye Medicine leading the market by obtaining multiple approvals for atropine eye drops and advancing new drug trials [2][3][4]. Group 1: Product Approvals and Market Position - Xingqi Eye Medicine was the first in China to receive approval for 0.01% atropine eye drops in March 2024, establishing a competitive edge in the myopia prevention market [2][4]. - The company has also received approvals for 0.02% and 0.04% concentrations of atropine eye drops, enhancing its market position through a gradient concentration strategy [2][4]. - The newly approved SQ-24071 eye drops for clinical trials represent a significant milestone in the drug development process, indicating the transition from laboratory research to human testing [2][3]. Group 2: Financial Performance - Since the launch of its atropine eye drops, Xingqi Eye Medicine has experienced substantial revenue growth, with a 32.42% increase in revenue and a 40.84% increase in net profit for 2024 compared to 2023 [4]. - In the first three quarters of 2025, the company reported a 32.27% year-on-year increase in revenue and a remarkable 105.98% increase in net profit [5]. Group 3: Industry Trends and Future Outlook - The rising incidence of myopia in China, driven by excessive use of electronic devices and poor eye care habits, has created a significant public health issue, prompting increased competition among pharmaceutical companies [3]. - The approval of SQ-24071 eye drops signifies a shift in the myopia prevention market from single-product competition to a comprehensive strategy involving product matrices and service ecosystems [5].

Core Viewpoint - The company, Xingqi Eye Medicine, has received approval from the National Medical Products Administration for the clinical trial of its eye drop product SQ-24071, aimed at delaying myopia progression in children and adolescents [1]. Group 1 - The announcement was made on January 19, indicating the company's ongoing commitment to developing innovative treatments for eye health [1]. - SQ-24071 is classified as a modified new drug of chemical drugs category 2.2 and 2.4, highlighting its potential significance in the pharmaceutical market [1]. - The clinical trial approval marks a critical step in the product's development, which could address a growing concern regarding myopia in younger populations [1].

Core Viewpoint - The company has received approval from the National Medical Products Administration for the clinical trial of SQ-24071 eye drops, which are intended to delay the progression of myopia in children and adolescents [1] Group 1 - SQ-24071 eye drops are classified as a modified new drug of chemical drug category 2.2; 2.4 [1] - The company has completed various studies, including pharmaceutical and non-clinical pharmacology and toxicology, demonstrating good safety and clinical development value for SQ-24071 eye drops [1]

智通财经APP讯，兴齐眼药(300573.SZ)公告，公司收到国家药品监督管理局签发的关于SQ-24071滴眼 液的《药物临床试验批准通知书》。SQ-24071滴眼液为公司研发的化学药品2.2;2.4类改良型新药。临床 拟用于延缓儿童及青少年的近视进展。根据改良型新药的有关要求,公司已经完成SQ-24071滴眼液药学 及非临床药理毒理学等多方面的研究，研究结果表明SQ-24071滴眼液具有良好的安全性及临床开发价 值。 ...