炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 1月27日，新诺威收涨5.41%，收盘价为40.93元，发生4笔大宗交易，合计成交量151.15万股，成交金额 6186.57万元。 第1笔成交价格为40.93元，成交53.65万股，成交金额2,195.89万元，溢价率为0.00%，买方营业部为机 构专用，卖方营业部为机构专用。 第2笔成交价格为40.93元，成交19.50万股，成交金额798.14万元，溢价率为0.00%，买方营业部为机构 专用，卖方营业部为机构专用。 第3笔成交价格为40.93元，成交29.25万股，成交金额1,197.20万元，溢价率为0.00%，买方营业部为机 构专用，卖方营业部为机构专用。 第4笔成交价格为40.93元，成交48.75万股，成交金额1,995.34万元，溢价率为0.00%，买方营业部为机 构专用，卖方营业部为机构专用。 进一步统计，近3个月内该股累计发生4笔大宗交易，合计成交金额为6186.57万元。该股近5个交易日累 计上涨5.76%，主力资金合计净流入4181.45万元。 责任编辑：小浪快报 ...

新诺威1月27日大宗交易平台共发生4笔成交，合计成交量151.15万股，成交金额6186.57万元。成交价格 均为40.93元。从参与大宗交易营业部来看，机构专用席位共出现在4笔成交的买方或卖方营业部中，合 计成交金额为6186.57万元。 证券时报·数据宝统计显示，新诺威今日收盘价为40.93元，上涨5.41%，日换手率为0.86%，成交额为 4.83亿元，全天主力资金净流入5105.50万元，近5日该股累计上涨5.76%，近5日资金合计净流入6101.71 万元。 两融数据显示，该股最新融资余额为5.09亿元，近5日增加349.50万元，增幅为0.69%。 据天眼查APP显示，石药创新制药股份有限公司成立于2006年04月05日，注册资本140459.2944万人民 币。（数据宝） 1月27日新诺威大宗交易一览 | 成交量（万 | 成交金额（万 | 成交价格 | 相对当日收盘折溢价 | 买方营业 | 卖方营业 | | --- | --- | --- | --- | --- | --- | | 股） | 元） | （元） | （%） | 部 | 部 | | 53.65 | 2195.89 | 40.93 | ...

| 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交星 | 成交全额 | 买方营业部 | | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | (万元) | | | | | 2026-01-27 | 300765 | 新诺威 | 40.93 | 53.65 | 2,195.89 机构专用 | | | 机构专用 | | 2026-01-27 | 300765 | 新诺威 40.93 | | 19.50 | 798.14 机构专用 | | | 机构专用 | | 2026-01-27 | 300765 | 新诺威 40.93 | | 29.25 | 1,197.20 机构专用 | | | 机构专用 | | 2026-01-27 | 300765 | 新诺威 40.93 | | 48.75 | 1,995.34 机构专用 | | | 机构专用 | 1月27日，新诺威大宗交易成交151.15万股，成交额6186.57万元，占当日总成交额的11.36%，成交价40.93元，较市场收盘价 ...

Group 1: Profit Forecasts - Shenling Environment expects a net profit of 205 million to 246 million yuan for 2025, representing a year-on-year increase of 77.39% to 112.87% [1] - Meinuohua anticipates a net profit of 100 million to 123 million yuan for 2025, an increase of 49.69% to 84.11% compared to the previous year [2] - Suotong Development forecasts a net profit of 730 million to 850 million yuan for 2025, reflecting a year-on-year increase of 167.98% to 212.03% [3] - Aikelan projects a net profit of 75 million to 100 million yuan for 2025, indicating a growth of 50.37% to 100.49% [3] - Hengyu Environmental expects a net profit of approximately 35.56 million yuan for 2025, a year-on-year increase of about 104.14% [4] - Yixin Tang anticipates a net profit of 260 million to 330 million yuan for 2025, representing a growth of 127.79% to 189.12% [6] - Yinlong Co. expects a net profit increase of 40% to 60%, projecting 331 million to 379 million yuan for 2025 [12] - Beite Technology forecasts a net profit of 11.5 million to 12.5 million yuan for 2025, reflecting a year-on-year increase of 60.98% to 74.98% [14] - Ha Li Co. anticipates a net profit of 65 million to 78 million yuan for 2025, representing a growth of 92% to 130% [33] - Ji Xin Technology expects a net profit of 115 million to 169 million yuan for 2025, indicating an increase of 277.15% to 454.09% [48] Group 2: Loss Forecasts - Chip Source Micro anticipates a net profit decrease of 62.53% to 74.36%, projecting 52 million to 76 million yuan for 2025 [8] - Lanhua Ketech expects a net loss of 440 million to 550 million yuan for 2025, indicating a shift from profit to loss compared to the previous year [13] - *ST Tianshan forecasts a net loss of 16 million to 23 million yuan for 2025, potentially triggering financial delisting [18] - Pingao Co. anticipates a net loss of 54 million to 44 million yuan for 2025, although this represents a narrowing of losses compared to the previous year [19] - Jianglong Boat expects a net loss of 90 million to 120 million yuan for 2025, a significant decline from the previous year's profit of 11.25 million yuan [20] - Li Guo Chemical anticipates a net loss of 410 million to 480 million yuan for 2025 [21] - Weichuan Technology expects a net loss of 110 million to 140 million yuan for 2025, although this reflects a narrowing of losses compared to the previous year [42] Group 3: Other Notable Announcements - Wan Tai Bio's bivalent HPV vaccine passed the WHO PQ periodic review, aiding its international market expansion [7] - Xian Da Co. received a supplier designation from a well-known international automotive manufacturer [47] - Heng Rui Pharmaceutical received clinical trial approval for its SHR-1049 injection, an innovative anti-tumor drug [15] - Qian Jin Pharmaceutical's subsidiary obtained a drug registration certificate for aluminum magnesium carbonate chewable tablets [16] - New Nuo Wei's subsidiary SYS6090 injection received clinical trial approval, targeting advanced solid tumors [36]

Core Viewpoint - XinNuoWei (300765.SZ) announced that its subsidiary, Giant Stone Biopharmaceutical Co., Ltd., has received approval from the National Medical Products Administration for the clinical trial of SYS6090 injection, which will commence shortly [1] Group 1: Product Details - SYS6090 injection is a recombinant fully human anti-PD-1 fusion protein with IL-15, designed as an asymmetric structure dual-functional Fc, which aims to weaken Fc-mediated immune functions [1] - The left arm of SYS6090 targets PD-1 positive tumor-infiltrating immune cells to block the immunosuppressive interaction between PD-1 and PD-L1 [1] - The right arm binds to the IL-15 receptor, activating downstream signaling pathways to further promote the activation and proliferation of relevant immune cells [1] Group 2: Preclinical Research Findings - Preclinical studies have shown that SYS6090 injection significantly inhibits tumor growth and demonstrates good safety and tolerability [1] - Compared to other PD-1 monoclonal antibodies and IL-15 drugs, SYS6090 exhibits higher efficacy [1]

Core Viewpoint - The announcement indicates that the subsidiary of the company, Shiyao Group Jushi Biopharmaceutical Co., Ltd., has received approval from the National Medical Products Administration for the clinical trial of SYS6090 injection, which will commence shortly [1] Group 1 - SYS6090 injection is a recombinant fully human anti-PD-1 fusion protein that incorporates IL-15, designed as an asymmetric structural bifunctional Fc [1] - The left arm of SYS6090 targets PD-1 positive tumor-infiltrating immune cells to block the immunosuppressive interaction between PD-1 and PD-L1 [1] - The right arm of SYS6090 binds to the IL-15 receptor, activating downstream signaling pathways to further promote the activation and proliferation of relevant immune cells [1]

二、药物的基本信息 药物名称：SYS6090 注射液 证券代码：300765 证券简称：新诺威 公告编号：2026-003 石药创新制药股份有限公司 关于控股子公司 SYS6090 注射液 获得药物临床试验批准通知书的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、概述 石药创新制药股份有限公司（以下简称"公司"）的控股子公司石药集团巨石 生物制药有限公司（以下简称"巨石生物"）SYS6090 注射液于近日取得国家药 品监督管理局核准签发的《药物临床试验批准通知书》，将于近期开展临床试验。 现将相关情况公告如下： 受 理 号：CXSL2500971 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 14 日受理的 SYS6090 注射液符合药品注册的有关要求，同意 SYS6090 注射液联合化疗±贝伐珠单抗、或联合 SYS6010 在晚期 NSCLC 和广泛期 SCLC 患者中开展临床试验。 三、药物的其他相关情况 SYS6090 注射液是一种重组全人源抗 PD-1 且融合 IL-15 的非对称结构双功 能 Fc（ ...

1月23日，新诺威涨5.02%，截至发稿，报39.77元/股，成交3.50亿元，换手率0.65%，总市值558.61亿 元。 截至发稿，成曦累计任职时间9年264天，现任基金资产总规模2369.54亿元，任职期间最佳基金回报 131.04%， 任职期间最差基金回报-67.89%。 刘树荣累计任职时间8年192天，现任基金资产总规模1276.84亿元，任职期间最佳基金回报194.12%， 任职期间最差基金回报-48.01%。 资料显示，石药创新制药股份有限公司位于河北省石家庄市栾城区张举路62号,香港湾仔港湾道18号中 环广场32楼3206室，成立日期2006年4月5日，上市日期2019年3月22日，公司主营业务涉及功能食品的 研发、生产与销售。主营业务收入构成为：功能食品及原料88.93%，生物制药8.91%，其他2.16%。 从新诺威十大流通股东角度 数据显示，易方达基金旗下1只基金位居新诺威十大流通股东。易方达创业板ETF（159915）三季度减 持132.53万股，持有股数786.8万股，占流通股的比例为0.63%。根据测算，今日浮盈赚取约1494.92万 元。 易方达创业板ETF（159915）成立日 ...

Core Viewpoint - The food and beverage sector is experiencing a mixed performance, with liquor continuing to incur losses but at a reduced rate compared to the previous year, while beer, soft drinks, and seasoning sectors show resilient growth in earnings [1]. Group 1: Company Performance - Yanjing Beer (000729) is expected to see a net profit growth of 50% to 65% year-on-year [2]. - Lianhua Holdings (600186) anticipates a net profit increase of 43% to 62% year-on-year [2]. - Dongpeng Beverage (605499) projects a net profit growth of 30% to 37% year-on-year [2]. - The liquor sector, represented by Jinzhizijiu (600199), is expected to see a reduction in loss margins compared to the previous year [2]. Group 2: Market Valuation - The food and beverage ETF (515170.SH), which tracks the sub-index, has over 60% weight in leading first and second-tier liquor stocks, with the latest valuation of the sub-index (PE-TTM, excluding negative values) at 18.95 times, indicating it is cheaper than 99% of the past decade [2]. - The sector is characterized by low expectations, low valuations, low allocations, and high dividend advantages, suggesting potential for left-side positioning as it may be nearing a rebound [3].

Core Viewpoint - The company, XinNuoWei, is undergoing a significant transformation from a traditional caffeine producer to an innovative pharmaceutical platform, resulting in substantial financial losses for 2025, with projected losses between 170 million to 255 million yuan, marking a drastic decline compared to the previous year's profit of 53.73 million yuan [6]. Financial Performance - The net profit attributable to shareholders is expected to be a loss of 170 million to 255 million yuan, a decline of 416% to 575% compared to the same period last year [6]. - The net profit after deducting non-recurring gains and losses is projected to be a loss of 210 million to 315 million yuan, a decrease of 596% to 844% year-on-year [6]. R&D Investment - The company plans to invest approximately 1 billion yuan in R&D for the year 2025, an increase of 18.76% year-on-year, which is the primary reason for the financial losses [4]. - The R&D spending has led to significant milestones, including the approval of four antibody drugs, six ADC products, and one mRNA vaccine for clinical trials [4]. - High R&D expenditure is common during the transformation phase of pharmaceutical companies, with leading international firms often exceeding 30% in R&D expense ratios [4]. Traditional Business Challenges - The traditional functional raw materials business, primarily caffeine products, has seen increased sales but a significant decline in gross margins due to market conditions, leading to reduced profit contributions [5]. - The company is experiencing a "transition phase" where the old business model is losing momentum while the new innovative pipeline is still developing [8]. Strategic Moves - XinNuoWei has initiated a dual strategy by applying for a listing on the Hong Kong Stock Exchange and establishing a joint venture focused on GLP-1 drugs, aiming to alleviate financial pressures and enhance its market position [10]. - The joint venture will focus on the GLP-1 market, which is expected to face intense competition and pricing pressures as multiple companies are preparing to launch similar products [12]. Future Outlook - The success of the innovative drug segment in reversing the current financial situation remains uncertain and will require time to validate [10]. - The company’s ability to leverage its GLP-1 assets and maintain R&D funding while navigating a competitive landscape will be critical for its future profitability [12].