10月1日，新势力车企陆续公布9月销量。其中L跑售超6万辆，位列榜首，智J销量为1.1万台，为公布销量的末尾，差 距明显。 第二：百城房价出炉，二手房环比连跌41个月 数据显示，9月全国100个城市新建住宅均价为16926元/平方米，环比微涨0.09%，同比上涨2.68%；二手住宅均价为 13381元/平方米，环比下跌0.74%，同比下跌7.38%。 新房价格坚挺，我认为有改善性质在里面，二手房，尤其是一些3无二手房，接下来的流通价值会大大降低。 第三：新势力车企9月成绩单，销量分化明显 第一：美股继续创新高 隔夜外围，美股3大指数再度集体收涨，道指涨幅0.09%，继续创收盘新高，标普500涨幅为0.34%，纳指涨幅为 0.42%。 大型科技股多数上涨，英特尔涨超7%，特斯拉涨超3%，微软、苹果、谷歌、亚马逊涨幅不足1%，Meta跌超2%。减 肥药、药品制造商、半导体设备概念涨幅居前。 纳斯达克中国金龙指数收涨1.44%，热门中概股普遍上涨。B度涨幅超4%，东子涨幅超3%，阿里涨幅超2%。 接下来补贴暂缓、购置税开征，市场格局可能会再度发生变化。整车暂时没考虑多参与。 第四：假期第二天 昨天读书，说到"懂得取 ...

纳斯达克中国金龙指数收涨1.44%，热门中概股普遍上涨，百度、世纪互联涨超4%，京东涨超3%，阿 里巴巴涨超2%，哔哩哔哩、小鹏汽车涨超1%。 格隆汇10月2日｜美股三大指数集体收涨，道指涨0.09%，纳指涨0.42%，标普500指数涨0.34%，英特尔 涨超7%，特斯拉涨超3%，微软、苹果、谷歌、亚马逊涨幅不足1%，Meta跌超2%。减肥药、药品制造 商、半导体设备概念涨幅居前，阿斯利康涨近10%，美光科技、礼来涨超8%，默沙东、罗氏涨超7%， 辉瑞、诺和诺德涨超6%，阿斯麦涨超3%。邮轮、社交媒体、航空服务跌幅居前，捷蓝航空跌超4%，联 合大陆航空跌超3%。 ...

近日，辉瑞宣布，拟斥资73亿美元收购减肥药物开发商Metsera。这一大手笔收购被普遍视为辉瑞重返 减肥药赛道的重要信号，但也引发了国内资本市场的连锁反应。A股市场上，多家减肥药概念股的股价 因此承压。 当辉瑞选择了Metsera而非中国企业时，外界不免追问：资本市场如今热炒的BD预期，能否真正兑现？ BD预期推动创新药行情 今年以来，国内不少A股、港股创新药企凭借潜在BD（商务拓展）预期被投资者追捧，股价节节攀 升。特别是一些被视作与跨国药企合作或被收购潜在标的的企业，其股价涨幅位居板块前列。 事实上，在此前辉瑞与三生制药的合作中，康方生物也曾受到过波及，成为BD预期落空的一大受害 者。在辉瑞最终选择三生制药之前，曾有投资者对辉瑞与康方生物海外合作方Summit更深入的合作甚 至收购抱有期待。资本市场上，三生制药与康方生物股价的此消彼长也印证了这一点。5月20日开盘， 港股康方生物的股价就震荡走低，盘中一度跌超5%，最终收报82.4港元/股，下跌1.38%。 据医药魔方披露的数据，全球医药交易数量从2015年的358笔增至2024年的743笔，年复合增长率为 8%，总交易金额从569亿美元跃升至1874亿美 ...

Market Performance - The A-share market indices collectively rose during the week of September 22 to September 26, with the Shanghai Composite Index closing at 3828.11 points, up 0.21% for the week [1] - The Shenzhen Component Index closed at 13209.00 points, up 1.06%, while the ChiNext Index closed at 3151.53 points, up 1.96% [1] - Over 30% of stocks experienced gains, with 126 stocks rising over 15% and 50 stocks declining over 15% [1] Top Gainers - Bluefeng Biochemical (002513.SZ) led the gainers with a weekly increase of 61.16%, followed by Sunflower (300111.SZ) with a 57.86% rise [2] - Other notable gainers included Jucheng Technology (688123.SH), Changchuan Technology (300604.SZ), and Fuke Environmental Protection (688335.SH), all with gains exceeding 44% [2] - Bluefeng Biochemical is a major domestic producer of pesticides, and it recently established a subsidiary focused on high-efficiency N-type crystalline silicon photovoltaic products [2][3] Top Losers - Borui Pharmaceutical (688166.SH) was the biggest loser, with a decline of 38.36% [5] - Other significant decliners included Xiangjiang Holdings (600162.SH) and Haotaitai (603848.SH), both with declines over 22% [5] - Borui Pharmaceutical's stock price fell to 58.06 yuan per share, with a 12.57% drop on September 26 alone [6] Company Developments - Borui Pharmaceutical announced a stock repurchase plan, proposing to buy back shares worth between 10 million and 20 million yuan [9] - The company is progressing with its overseas market expansion, with several clinical trials ongoing for its weight loss products in the U.S. [8][9] - Pfizer's acquisition of Metsera for $7.3 billion has impacted Borui Pharmaceutical's stock, signaling a shift in market expectations for weight loss drug development [10]

Core Viewpoint - The company, Jinkai (Liaoning) Life Science Technology Co., Ltd., is engaged in providing custom R&D and production services for small molecule drug intermediates and a small amount of raw materials for global innovative pharmaceutical companies, with a focus on fluorinated and non-fluorinated CDMO businesses [2][8]. Business Overview - The main products of the company include fluorinated CDMO services and non-fluorinated CDMO services [2]. - As of the 2024 annual report, overseas revenue accounts for 61.18% of total revenue, benefiting from the depreciation of the RMB [4]. - The company has a project for producing high-end pharmaceutical products, including intermediates for Semaglutide oral formulations [2][3]. Financial Performance - For the first half of 2025, the company achieved operating revenue of 348 million yuan, representing a year-on-year growth of 32.98%, and a net profit attributable to shareholders of 71.76 million yuan, up 123.61% year-on-year [8]. - The company has distributed a total of 117 million yuan in dividends since its A-share listing [9]. Market Activity - On September 26, the company's stock price fell by 2.02%, with a trading volume of 64.12 million yuan and a turnover rate of 3.17%, bringing the total market capitalization to 4.272 billion yuan [1]. - The stock has shown no significant trend in major capital inflows, with a net outflow of 8.2 million yuan on the day [5][6]. Technical Analysis - The average trading cost of the stock is 39.14 yuan, with recent accumulation activity noted, although the strength of this accumulation is weak [7]. - The stock price is approaching a resistance level of 36.40 yuan, indicating potential for a pullback unless this level is broken [7].

截至2025年9月23日 13:13，恒生医疗保健指数下跌2.62%。成分股方面涨跌互现，药捷安康-B领涨9.82%，同源康医药-B上涨1.39%，康方生物上涨1.37%； 映恩生物-B领跌8.42%，方舟健客下跌5.41%，和黄医药下跌4.92%。恒生医疗ETF(513060)下跌2.31%，最新报价0.72元。拉长时间看，截至2025年9月22 日，恒生医疗ETF近1月累计上涨1.94%，涨幅排名可比基金1/3。 流动性方面，恒生医疗ETF盘中换手15.25%，成交11.19亿元，市场交投活跃。拉长时间看，截至9月22日，恒生医疗ETF近1月日均成交24.32亿元，居可比 基金第一。 截至2025年9月23日 13:13，中证医药50指数下跌2.86%。成分股方面，西藏药业领跌8.39%，药明康德下跌5.03%，康龙化成下跌4.82%，兴齐眼药下跌 4.59%，大博医疗下跌4.24%。医药50ETF(159838)下跌2.60%，最新报价0.64元。拉长时间看，截至2025年9月22日，医药50ETF近1月累计上涨2.51%，涨幅 排名可比基金1/2。 流动性方面，医药50ETF盘中换手1.32%，成交2 ...

消息称辉瑞接近以73亿美元收购公司，Metsera盘前飙涨50%，辉瑞则涨约2%。据英国金融时报，辉瑞 接近以73亿美元收购减肥药公司Metsera。辉瑞将向Metsera支付每股47.50美元的现金，如果达到某些业 绩里程碑，将再支付每股22.50美元，对公司的估值最高可达73亿美元。这一报价较Metsera上周五33.32 美元的收盘价溢价约110%。 作为新一代减肥药物领域的潜力企业之一，Metsera正参与争夺规模达数十亿美元的减肥药市场。收购 完成后，辉瑞将获得Metsera的减肥针剂MET-233i——在早期小型试验中，该药物帮助患者在36天内减 重最多达8.4%。值得关注的是，与诺和诺德、 礼来等市场龙头的现有产品相比，MET-233i可能实现更 低频次给药，使患者从每周注射一次减少至每月一次，可能与现有疗法形成差异。(格隆汇) | MTSR Metsera | | | | --- | --- | --- | | 33.320 4 -2.580 -7.19% | | 收盘价 09/19 16:00 美东 | | 49.960 1 16.640 +49.94% | | 盘前价 09/22 05:3 ...

Core Viewpoint - Roche plans to advance its experimental weight loss drug CT-388 to late-stage trials next year, aiming to compete with leading companies like Eli Lilly and Novo Nordisk in the weight loss market [1] Company Summary - Roche's CT-388 faced a significant stock price drop last year due to early research revealing side effects such as nausea and vomiting, but the company emphasized that the incidence of these side effects is comparable to competitors [1] - Roche has entered a $5.3 billion collaboration with a New Zealand pharmaceutical company to co-develop Zealand's weight loss drug, while also having another weight loss drug in its own pipeline [1] - CT-388 has a similar mechanism of action to Eli Lilly's flagship product Zepbound, promoting satiety and reducing food intake by activating GLP-1 and GIP receptors [1] - Roche disclosed that combining CT-388 with Zealand Pharma's pipeline drug could potentially create a "best-in-class" treatment option with better tolerability [1] - As of last Friday, Roche's stock price increased by 1.46%, with a year-to-date gain of approximately 5.4% [1] Industry Summary - The obesity market is currently dominated by Eli Lilly and Novo Nordisk, with sales expected to exceed $100 billion by 2030 [1]

格隆汇9月18日丨摩根士丹利研报表示，礼来口服GLP-1受体激动剂Orfor在减肥效果、心血管代谢指标 改善及安全性方面均表现出色，新公布的数据未改变其对Orfor前景的积极看法，维持"增持"评级，未 来12个月目标价为1028美元。 ...

Jonsson周三还表示，现在就断言该公司将利用FDA的新快速审查程序来审查其实验性减肥药 Orforglipron还为时过早。 Jonsson表示："目前对这种项国家优先审批券的了解还非常有限。我认为我们不会使用这种程序，因为 我们并不完全了解它的内容。" 礼来(LLY.US)国际业务总裁Patrik Jonsson周三表示，该公司已成为欧洲、亚洲和中东地区减肥药物市场 的领导者，并有望在全球复制其在美国市场的主导地位。他还表示，礼来对利用美国食品药品监督管理 局(FDA)的新快速审批程序来审查其实验性口服减肥药Orforglipron持谨慎态度。 Jonsson表示，这家制药公司正在推行一种以消费者为导向的商业策略，这与其在美国的做法类似，包 括与远程医疗和数字平台建立合作关系，以覆盖从英国到中国再到阿联酋的自掏腰包购买减肥药的患 者。 Jonsson表示："我们很快从美国学到了高度重视消费者的重要性。" 礼来公司正在澳大利亚和中国等市 场采用这种模式，并与电商巨头阿里巴巴以及京东建立了合作关系。 礼来今年在墨西哥、巴西、印度和中国推出了减肥药Mounjaro。Jonsson 表示，礼来推迟在部分地区上 ...