恒瑞医药今年以来股价涨40.02%，近5个交易日涨1.81%，近20日涨0.63%，近60日涨15.74%。 8月27日，恒瑞医药盘中下跌2.01%，截至13:39，报63.99元/股，成交32.17亿元，换手率0.78%，总市值 4247.14亿元。 资金流向方面，主力资金净流出4.67亿元，特大单买入4.82亿元，占比14.99%，卖出8.23亿元，占比 25.57%；大单买入7.00亿元，占比21.75%，卖出8.26亿元，占比25.68%。 机构持仓方面，截止2025年6月30日，恒瑞医药十大流通股东中，香港中央结算有限公司位居第三大流 通股东，持股5.35亿股，相比上期增加1.43亿股。华夏上证50ETF（510050）位居第九大流通股东，持 股8761.61万股，相比上期增加588.30万股。华泰柏瑞沪深300ETF（510300）位居第十大流通股东，持 股7949.95万股，相比上期增加645.85万股。易方达沪深300医药ETF（512010）退出十大流通股东之 列。 资料显示，江苏恒瑞医药股份有限公司位于江苏连云港市经济技术开发区昆仑山路7号,中国香港铜锣湾 希慎道33号利园1期19楼192 ...

8月27日，舒泰神盘中下跌2.01%，截至10:38，报55.56元/股，成交6.55亿元，换手率2.56%，总市值 265.45亿元。 截至6月30日，舒泰神股东户数3.17万，较上期增加29.20%；人均流通股14327股，较上期减少22.60%。 2025年1月-6月，舒泰神实现营业收入1.26亿元，同比减少31.14%；归母净利润-2463.56万元，同比减少 619.70%。 分红方面，舒泰神A股上市后累计派现7.71亿元。近三年，累计派现0.00元。 机构持仓方面，截止2025年6月30日，舒泰神十大流通股东中，兴全合润混合A（163406）位居第三大 流通股东，持股1572.10万股，为新进股东。兴全商业模式混合(LOF)A（163415）位居第五大流通股 东，持股880.53万股，为新进股东。兴全新视野定期开放混合型发起式（001511）位居第七大流通股 东，持股601.15万股，为新进股东。永赢医药创新智选混合发起A（015915）位居第八大流通股东，持 股597.07万股，为新进股东。兴全合宜混合A（163417）位居第九大流通股东，持股595.21万股，为新 进股东。易方达医疗保健行业混 ...

8月26日，泰格医药盘中下跌2.02%，截至10:12，报67.26元/股，成交1.99亿元，换手率0.52%，总市值 579.13亿元。 资金流向方面，主力资金净流出664.49万元，特大单买入1447.80万元，占比7.26%，卖出1047.48万元， 占比5.25%；大单买入3127.54万元，占比15.68%，卖出4192.35万元，占比21.02%。 泰格医药今年以来股价涨23.82%，近5个交易日涨0.39%，近20日跌2.14%，近60日涨35.71%。 资料显示，杭州泰格医药科技股份有限公司位于浙江省杭州市滨江区西兴街道聚工路19号盛大科技园A 座18层，成立日期2004年12月15日，上市日期2012年8月17日，公司主营业务涉及为国内外医药及健康 相关产品的研究开发提供专业临床研究服务,业务范围主要包括I至IV期临床试验技术服务、数据管理及 统计分析、注册申报、临床试验现场服务、SMO服务、医学检测服务、医学资料翻译、医学影像诊断 服务和培训服务。主营业务收入构成为：临床试验相关服务及实验室服务49.91%，临床试验技术服务 48.13%，其他业务服务1.95%。 分红方面，泰格医药A股上 ...

股票代码：300702 股票简称：天宇股份 浙江天宇药业股份有限公司 投资者关系活动记录表 编号：2025-003 | | □特定对象调研 □分析师会议 | | --- | --- | | | □媒体采访 □业绩说明会 | | 投资者关系活动类别 | □新闻发布会 □路演活动 | | | □现场参观 | | | □√其他 （电话会议） | | | 华创证券研究所、招商证券、中金证券、太平洋、国泰海通、中 信证券、西部研发、中泰证券、英大保险资产管理有限公司、杭 | | | 州萧山精富私募基金管理有限公司、富安达基金管理公司、国都 | | | 证券股份有限公司、天风国际证券集团有限公司、湘财基金管理 | | | 有限公司、青骊投资管理（上海）有限公司、金科投资、上海高 | | | 毅资产管理合伙企业（有限合伙）、浙商基金管理有限公司、博 | | | 远基金管理有限公司、康龙化成、中欧基金管理有限公司、上海 | | 参与单位名称 | 喜世润投资管理有限公司、中泰证券（上海）资产管理有限公司、 | | | 中泰证券研究所、明亚基金管理有限责任公司、凯石基金管理有 | | | 限公司、西部利得基金、上海冲积资产管理中 ...

Core Viewpoint - Heng Rui Medicine reported strong financial performance for the first half of 2025, with significant growth in revenue and net profit, driven by innovative drug sales and licensing income [1][7]. Financial Performance - The company achieved operating revenue of 15.76 billion yuan, a year-on-year increase of 15.88% [2]. - Net profit attributable to shareholders reached 4.45 billion yuan, up 29.67% compared to the same period last year [3]. - Total profit amounted to 5.05 billion yuan, reflecting a growth of 34.63% [3]. - The net cash flow from operating activities was 4.30 billion yuan, an increase of 41.80% [3]. - The company's net assets at the end of the reporting period were 58.46 billion yuan, up 28.44% from the previous year [3]. Innovation and R&D - The company invested 3.87 billion yuan in R&D during the first half of 2025, with 3.23 billion yuan classified as expensed R&D [3]. - Six Class 1 innovative drugs were approved for market launch during the reporting period [8]. - The company has over 100 self-innovated products in clinical development and more than 400 clinical trials ongoing domestically and internationally [8]. Sales and Market Expansion - Innovative drug sales and licensing income totaled 9.56 billion yuan, accounting for 60.66% of total revenue, with innovative drug sales alone reaching 7.57 billion yuan [7]. - The company received significant licensing payments, including 200 million USD from Merck and 75 million USD from IDEAYA, contributing to revenue growth [7]. - The company has accelerated its internationalization efforts, with over 20 overseas clinical trials initiated in various countries [9]. Shareholder Activity - Despite the recent increase in stock price, three of the top ten shareholders reduced their holdings in the second quarter [4][6].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容所產生或因依賴 該等內容而引致的任何損失承擔任何責任。 Jiangsu Hengrui Pharmaceuticals Co., Ltd. 江蘇恒瑞醫藥股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1276） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條刊發。 根據中華人民共和國的有關法例規定，江蘇恒瑞醫藥股份有限公司（「本公司」）在 上海證券交易所網站( www.sse.com.cn )刊發了以下公告。茲載列如下，僅供參閱。 承董事會命 江蘇恒瑞醫藥股份有限公司 董事長 孫飄揚先生 中國上海 2025年8月20日 於本公告日期，董事會成員包括(i)執行董事孫飄揚先生、戴洪斌先生、馮佶女 士、張連山先生、江寧軍先生及孫杰平先生；(ii)非執行董事郭叢照女士；及(iii) 獨立非執行董事董家鴻先生、曾慶生先生、孫金雲先生及周紀恩先生。 江苏恒瑞医药股份有限公司 2025 年半年度报告 公司代码：600276 ...

控股股东的长期看好不仅源于宣泰医药核心战略业务的蓬勃发展和广阔的行业前景，同时亦来自公司高 端制剂技术的核心竞争力壁垒。在仿制药领域，宣泰医药依托"难溶药物增溶技术平台"、"缓控释药物 制剂研发平台"和"固定剂量药物复方制剂研发平台"三大技术平台，持续投入研发高技术壁垒的产品。 截至2024年底，宣泰医药已获批上市产品达到16款，其中多款国内外首仿产品。除中国市场外，公司产 品已远销美国、澳大利亚、新加坡、以色列、海湾国家和加拿大等多个国家或地区。今年以来，公司产 品恩杂鲁胺片、达格列净二甲双胍缓释片先后获得美国FDA暂时批准，为未来进入美国市场打下坚实基 础。 在CRO/CMO领域，宣泰医药表现同样亮眼。今年7月，宣泰医药助力亚盛医药利生妥 （利沙托克拉 片）、征祥医药济可舒（玛硒洛沙韦）获NMPA批准上市，并由宣泰医药全资子公司江苏宣泰药业有限 公司提供后续CMO服务。截至目前，宣泰医药顺利推进了累计超过100个创新药的制剂开发，其中8款 新药产品已获批上市并由宣泰药业承接后续商业化生产CMO服务。客户涵盖歌礼制药、亚盛医药、再 鼎医药、艾力斯、益方生物等多家上市公司，以及辉瑞普强、海和药物、璎黎药业等国 ...

Core Viewpoint - The business cooperation between Beijing Beiyi Pharmaceutical and Peking University International Hospital is nearing completion, leading to potential risks of business cessation, personnel layoffs, and corporate transformation for Beiyi Pharmaceutical [1][2]. Group 1: Business Overview - Beijing Beiyi Pharmaceutical, a wholly-owned subsidiary of Beida Pharmaceutical, is primarily engaged in the distribution, retail, hospital procurement, and pharmacy management of third-party drugs, medical devices, and consumables [1]. - The contract between Beiyi Pharmaceutical and Peking University International Hospital, which was effective from May 2022 to May 2023, has expired, and both parties will not continue their cooperation, significantly impacting the revenue of both companies [2][4]. Group 2: Financial Impact - The loss of Peking University International Hospital as a client could lead to a significant revenue decline for Beiyi Pharmaceutical, with an estimated sales revenue reduction of approximately 600 million yuan, accounting for about 29.13% of the company's latest audited revenue [5]. - Beiyi Pharmaceutical's total revenue for 2024 is projected to be 2.06 billion yuan, with around 50% of this revenue dependent on the contract with the hospital [4][5]. - If the cooperation is completely terminated, Beiyi Pharmaceutical's profitability could shrink by nearly half, with a potential revenue decrease of about 1.027 billion yuan starting in 2026 [5]. Group 3: Market Reaction - On August 12, the stock price of Beida Pharmaceutical fell by over 9%, closing at 6.42 yuan per share, a decline of 7.36%, with a total market capitalization of 3.826 billion yuan [1]. Group 4: Industry Context - The situation reflects a typical case of over-reliance on a single major client, which can lead to severe financial consequences when the partnership ends [6]. - The healthcare industry is experiencing rapid changes, including accelerated medical reforms and centralized procurement, which may further compress traditional distribution margins [6].

Core Viewpoint - The trend of pharmaceutical companies seeking to list on the Hong Kong Stock Exchange continues, with HaiXi New Drug being a notable example, having submitted its application again after an initial attempt earlier in the year [1][2]. Company Overview - HaiXi New Drug is a commercial-stage pharmaceutical company with a diversified product portfolio and pipeline, having achieved significant growth compared to many peers still in clinical stages [1][2]. - The company has received approval for 14 generic drugs from the National Medical Products Administration and has four innovative drugs in its pipeline, positioning it as a major player in China's pharmaceutical industry [2][4]. Financial Performance - The company reported revenues of approximately 2.5 billion RMB over five months, with a significant portion of revenue coming from a major client [2][5]. - Revenue figures for the reporting period show a growth trend: 212 million RMB in 2022, 317 million RMB in 2023, and projected 467 million RMB in 2024, with profits also increasing correspondingly [5][6]. - The company heavily relies on a few major clients, with the top five clients contributing 71.7% to 85.1% of total revenue during the reporting periods [7]. Business Model - HaiXi New Drug operates a light-asset model, utilizing the Marketing Authorization Holder (MAH) system, which separates drug marketing and production licenses, allowing for outsourcing of production [5][10]. - The company has established a sales and distribution network with over 18,000 hospitals and medical institutions across China, covering all provinces and municipalities [4]. Market Strategy - The company is focusing on both generic and innovative drugs, with a particular emphasis on developing small-molecule innovative drugs that meet clear clinical needs [4][12]. - HaiXi New Drug's innovative pipeline includes a potential first-in-class oncology drug and other drugs targeting significant market needs, indicating a strategic shift towards innovation [12][14]. Industry Context - The Chinese pharmaceutical market is predominantly composed of generic drugs, with over 90% of the 4,000 pharmaceutical companies being generic drug manufacturers [11]. - The global market for breast cancer drugs is projected to grow significantly, providing a substantial opportunity for HaiXi New Drug's innovative products [12]. Future Outlook - The company is transitioning towards a heavier asset model with the construction of its own manufacturing facility, which may lead to increased operational volatility [14]. - Balancing stable income from generics with the long-term investment required for innovative drug development will be crucial for the company's future valuation [14].

Core Viewpoint - Fujian Haixi New Drug Creation Co., Ltd. has submitted its IPO application to the Hong Kong Stock Exchange, marking its second attempt after the first application lapsed in January 2025. The updated application includes financial data for 2024 and the first five months of 2025, with plans to raise funds for drug pipeline development and commercialization efforts [1][2]. Group 1: Company Overview - Established on March 27, 2012, Haixi New Drug is a commercial-stage pharmaceutical company based in Fuzhou, Fujian, focusing on R&D, production, and sales [2]. - The company has a product portfolio that includes generic drugs for various diseases, with 14 generic drugs approved by the National Medical Products Administration [2]. - Haixi New Drug has a research team of 112 members, with approximately 27% holding doctoral or master's degrees, and an average industry experience of about 19 years [2]. Group 2: Product Pipeline and Market Position - Among the approved generic drugs, four have been selected for national centralized procurement, including Anbili, Haihuitong, Ruian Tuo, and Saixifu [3]. - The company has five additional generic drugs in the ANDA stage, expected to receive market approval by 2025 or 2026 [3]. - Revenue during the reporting period primarily came from pharmaceutical product sales, with a significant portion sold to distributors for hospital distribution [3]. Group 3: Financial Performance - Revenue figures for the reporting period were approximately CNY 212 million, CNY 317 million, CNY 467 million, and CNY 249 million, with net profits of approximately CNY 69 million, CNY 117 million, CNY 136 million, and CNY 90 million [5]. - The company's gross margin during the reporting period was high, ranging from 81% to 84%, ranking second among 20 generic drug companies in the A-share market [6]. - Cash and cash equivalents as of May 31, 2025, were approximately CNY 46.26 million, a decrease of over CNY 200 million from the end of 2023 [6]. Group 4: Leadership and Management - The company is co-controlled by founders Dr. Kang Xinshan and his spouse Feng Yan, who together hold 41.17% of the shares [6]. - Dr. Kang Xinshan has over 26 years of experience in the pharmaceutical industry and has held various significant positions prior to founding Haixi New Drug [6][7]. - Feng Yan has also held prominent roles in research management and joined Haixi New Drug in 2012, later becoming the deputy general manager [7].