格隆汇1月16日丨阳光诺和(688621.SH)公布，预计2025年年度实现归属于母公司所有者的净利润为 19,105.21万元至22,926.25万元，同比增长7.69%到29.23%。预计2025年年度实现归属于母公司所有者扣 除非经常性损益后的净利润为17,969.94万元至21,563.93万元，同比增长8.84%到30.61%。 授权合作与权益分成成为推动利润增长的关键动力。公司通过知识产权授权交易直接获取收益， STC007、STC008等管线的授权合作已贡献了相当可观的收入，形成了高毛利的收益来源，促使业务结 构持续优化。此外，"研发服务+管线培育+新质产业链"战略的实施，为业务增长提供了坚实的保障， 推动公司盈利水平稳步提升。 在创新药管线布局方面，公司聚焦于具备全球自主知识产权的创新药研发工作，构建了涵盖多肽、小核 酸、细胞和基因治疗等前沿领域的管线矩阵，其中包含20余种1类新药，涉及肿瘤、疼痛等重大疾病范 畴。依托"临床前+临床"一体化服务模式，结合完善的质量管理体系以及与300余家医院的临床合作网 络，公司高效推动研发项目的开展。其中，STC007、STC008等核心管线顺利步入关键临床 ...

Core Viewpoint - The company, XinNuoWei, is expected to report a significant loss of between 170 million to 255 million yuan for the year 2025, marking a year-on-year decline of 416% to 575% due to increased R&D investments and challenges in transitioning from traditional raw materials to innovative pharmaceuticals [1] Group 1: Financial Performance - In 2022, XinNuoWei achieved peak performance with revenue and net profit attributable to shareholders of 2.626 billion yuan and 726 million yuan, respectively [4] - Revenue for 2023 and 2024 is projected to decline to 2.539 billion yuan and 1.981 billion yuan, with net profit dropping to 434 million yuan and 53.73 million yuan [4] - The company anticipates a significant loss in 2025 primarily due to a drop in vitamin B12 prices and increased competition in the caffeine business [5] Group 2: Business Transition and R&D - XinNuoWei is in a critical transition phase from traditional raw material business to innovative pharmaceuticals, having acquired an 80% stake in Giant Stone Bio, a subsidiary focused on ADC, mRNA vaccines, and antibody therapies [3] - The company has increased its R&D expenditure to approximately 1 billion yuan in 2025, reflecting a substantial year-on-year growth, which is a key factor affecting current profits [1] - Several products have made significant progress, with four antibody drugs, six ADC products, and one mRNA vaccine receiving clinical trial approvals in 2025 [1] Group 3: Market Position and Challenges - XinNuoWei remains a leading global producer of synthetic caffeine, maintaining a strong market share and serving major clients like Coca-Cola, Pepsi, and Red Bull [2] - The profitability of the traditional core business has declined due to market factors, impacting the overall profit from functional raw materials [2] - The company faced challenges in its vitamin business, with a lack of growth in traditional health products and new business lines not yet achieving scale [5]

证券代码：301257 证券简称：普蕊斯 普蕊斯（上海）医药科技开发股份有限公司 投资者关系活动记录表 编号：2026-001 投资者关系 活动类别 特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他 参与单位 名称及人员 姓名 汇添富基金 华夏基金 万家基金 信达澳亚基金 慎知资产 人保养老 建投基金 华泰保兴基金 太平洋保险 财通资管 农银汇理 中邮证券 华泰证券 华创证券 东方证券 国联民生证券 招商证券共 17 家机构 20 人 时间 2026 年 1 月 6 日、2026 年 1 月 9 日、2026 年 1 月 12 日—2026 年 1 月 13 日、2026 年 1 月 16 日 地点 上海公司会议室 上市公司接 待人员姓名 董事会秘书 赖小龙 投资者关系 活动主要 内容介绍 一、介绍公司基本情况 普蕊斯是一家大数据驱动型临床研究服务商，始终秉持"以 患者为中心"的理念，通过将临床试验和医院实际场景进行解 构，创建出一套临床试验全流程项目管理体系，公司深耕临床试 验现场管理组织（SMO）业务，致力于为中国临床试验执行提 质增效，助力新药更快惠及患 ...

公告显示，许可产品RAY1225注射液是众生睿创研发的、具有全球自主知识产权的创新结构多肽药 物，具有GLP-1受体和GIP受体双重激动活性，得益于优异的药代动力学特性，具备每两周注射一次的 超长效药物潜力。 目前，RAY1225注射液用于治疗中国肥胖/超重患者的安全性和有效性III期临床试验(REBUILDING-2研 究)，RAY1225注射液与口服降糖药物联合治疗2型糖尿病患者的安全性和有效性、司美格鲁肽注射液对 照的III期临床试验(SHINING-3)和RAY1225注射液单药治疗2型糖尿病患者的安全性和有效性、安慰剂 对照III期临床试验(SHINING-2)已顺利完成全部参与者入组工作。众生睿创将继续秉承严谨态度，以高 质量、高效率且科学规范的方式推进RAY1225注射液的III期临床试验。 在满足许可协议约定的条款下，众生睿创将获得首付款及里程碑付款总金额为人民币10亿元，包括首付 款人民币2亿元、开发和销售里程碑付款最高合计人民币8亿元，后续产品上市后有权获得许可产品净销 售额双位数的销售提成。 众生药业（002317）(002317.SZ)发布公告，公司控股子公司广东众生睿创生物科技有限公 ...

在满足许可协议约定的条款下，众生睿创将获得首付款及里程碑付款总金额为人民币100,000万元，包 括首付款人民币20,000万元、开发和销售里程碑付款最高合计人民币80,000万元，后续产品上市后有权 获得许可产品净销售额双位数的销售提成。 许可产品RAY1225注射液是众生睿创研发的、具有全球自主知识产权的创新结构多肽药物，具有GLP-1 受体和GIP受体双重激动活性，得益于优异的药代动力学特性，具备每两周注射一次的超长效药物潜 力。目前，RAY1225注射液用于治疗中国肥胖/超重患者的安全性和有效性III期临床试验 格隆汇1月16日丨众生药业(002317.SZ)公布，控股子公司广东众生睿创生物科技有限公司（简称"众生 睿创"）与齐鲁制药有限公司（简称"齐鲁制药"）于2026年1月16日签署《许可协议》，众生睿创授权齐 鲁制药在中国地区（包括中国大陆、香港、澳门、台湾，统称"许可地区"）内对RAY1225注射液（简 称"许可产品"）进行生产与商业化销售，众生睿创保留许可知识产权的全部权利、权属和权益，在许可 产品获得药品监管部门上市注册批准后，众生睿创为药品上市许可持有人（MAH）。同时，众生睿创 仍然拥 ...

格隆汇1月16日丨众生药业(002317.SZ)公布，控股子公司广东众生睿创生物科技有限公司（简称"众生 睿创"）与齐鲁制药有限公司（简称"齐鲁制药"）于2026年1月16日签署《许可协议》，众生睿创授权齐 鲁制药在中国地区（包括中国大陆、香港、澳门、台湾，统称"许可地区"）内对RAY1225注射液（简 称"许可产品"）进行生产与商业化销售，众生睿创保留许可知识产权的全部权利、权属和权益，在许可 产品获得药品监管部门上市注册批准后，众生睿创为药品上市许可持有人（MAH）。同时，众生睿创 仍然拥有RAY1225注射液国外的全部权利、权属和权益，包括但不限于临床开发、生产及新药注册、 销售和市场推广。 在满足许可协议约定的条款下，众生睿创将获得首付款及里程碑付款总金额为人民币100,000万元，包 括首付款人民币20,000万元、开发和销售里程碑付款最高合计人民币80,000万元，后续产品上市后有权 获得许可产品净销售额双位数的销售提成。 许可产品RAY1225注射液是众生睿创研发的、具有全球自主知识产权的创新结构多肽药物，具有GLP-1 受体和GIP受体双重激动活性，得益于优异的药代动力学特性，具备每两周注射一 ...

Core Insights - The article highlights the participation of Gensci Pharmaceutical at the 44th JPMorgan Healthcare Conference, showcasing its innovative drug development and research capabilities, which attracted significant investor interest [1][2]. Group 1: Innovative Drug Pipeline - Gensci Pharmaceutical presented seven innovative drug pipelines targeting major disease areas such as oncology, respiratory, immunology, endocrinology, and women's health, with potential First-in-Class (FIC) or Best-in-Class (BIC) profiles [2][3]. - The company emphasized its advanced technology platforms, including long-acting release, conjugation technology, targeted delivery, and AI-assisted drug design, which are crucial for developing competitive drug candidates [2][3]. Group 2: Clinical Development Highlights - Gensci's GenSci134, a long-acting growth hormone analog, is in Phase I clinical trials, aimed at improving patient compliance in growth hormone deficiency [3]. - The NK3R antagonist GenSci074 for menopausal vasomotor symptoms has met all primary endpoints in Phase II trials, showing significant improvement over placebo, with plans for a global Phase III trial in Q2 2026 [3]. - The PD-1 agonist GenSci120 has received clinical approval in China and the U.S., demonstrating potential for chronic immune inflammatory diseases [4]. Group 3: Oncology Advancements - Gensci's GenSci128, targeting TP53 Y220C mutations, has entered clinical trials, addressing a significant unmet need in solid tumors [5]. - The new PI3Kα inhibitor GenSci145, recently accepted for IND, shows selective inhibition of PIK3CA mutations and potential for treating advanced solid tumors with brain metastases [5]. Group 4: Strategic Development and Global Expansion - Gensci is advancing over 40 clinical research projects and has achieved a milestone with the overseas licensing of GenSci098, totaling $1.365 billion, marking international recognition of its innovation [9]. - The company aims to develop a robust pipeline through a strategy that combines growth hormone, innovative drugs, and overseas business development, positioning itself for high-quality growth [9]. - The JPM conference serves as a platform for Gensci to showcase its innovations and foster global partnerships, reflecting a shift in the industry towards quality and global outreach [9].

Core Viewpoint - Zhejiang Jianfeng Group Co., Ltd. announced that its subsidiary, Jianfeng Pharmaceutical, has voluntarily withdrawn the clinical trial application for the drug "C2235 and C2235 tablets" to the National Medical Products Administration, pending further research and will resubmit the application at a later date [2][3]. Group 1: Drug Registration and Withdrawal - Jianfeng Pharmaceutical received a termination notice for the drug registration application for "C2235 and C2235 tablets" from the National Medical Products Administration, indicating that the withdrawal was a proactive decision by the company [2]. - The withdrawal was due to the need for further improvement of the application materials during the registration process [2]. Group 2: Impact on Company Performance - The withdrawal of the clinical trial application for "C2235 and C2235 tablets" is not expected to have a significant impact on the company's current performance [3]. - The company acknowledges that the research and development of innovative drugs involve high technology and risks, with long and complex cycles from development to production, which are susceptible to unpredictable factors [3].

Group 1 - The core viewpoint of the article indicates that Shiyao Group's subsidiary, Shiyao Innovation, is expected to report a net loss attributable to shareholders of 170 million to 255 million yuan for the fiscal year 2025, compared to a profit of 53.7263 million yuan in the previous year [1] - The expected net loss after deducting non-recurring gains and losses is projected to be between 210 million and 315 million yuan, with the previous year's profit being 42.3419 million yuan [1] - The increase in research and development (R&D) expenses to approximately 1 billion yuan, a significant year-on-year increase, is a major factor affecting the current period's profit [1] Group 2 - In early November 2025, Shiyao Innovation completed the acquisition of an additional 29% minority stake in its subsidiary, Jushi Biotech, raising its ownership to 80% [2] - Due to significant investments in the research pipeline, Jushi Biotech is currently not profitable, and the increased ownership will amplify its impact on the consolidated financial statements of the company [2] - The company is actively consolidating its advantage in the functional raw materials business, particularly in caffeine products, although the gross margin and profitability of these products have slightly declined compared to the same period last year due to market factors [2]

Core Viewpoint - The company, Shiyao Group, is expected to report a significant net loss for its subsidiary, Shiyao Innovation, in 2025, contrasting with a profit in the previous year, primarily due to increased R&D investments and operational challenges [1][2]. Group 1: Financial Performance - Shiyao Innovation anticipates a net loss attributable to shareholders of 170 million to 255 million yuan for 2025, compared to a profit of 53.7263 million yuan in the previous year [1]. - The expected net loss, excluding non-recurring items, is projected to be between 210 million and 315 million yuan, down from a profit of 42.3419 million yuan in the prior year [1]. Group 2: R&D Investments - The company is significantly increasing its R&D expenditures, with total R&D costs expected to rise to approximately 1 billion yuan, marking a substantial year-on-year increase [1]. - Several products in the pipeline have made important progress, including four antibody drugs, six ADC products, and one mRNA vaccine receiving clinical trial approvals for the first time in 2025 [1]. Group 3: Subsidiary Developments - In early November 2025, Shiyao Innovation completed the acquisition of an additional 29% minority stake in its subsidiary, Jushi Biotech, raising its ownership to 80% [2]. - The increased stake in Jushi Biotech, which is currently not profitable due to high R&D investments, will have a more pronounced impact on the consolidated financial statements of Shiyao Innovation [2]. Group 4: Functional Raw Materials Business - Shiyao Innovation is working to strengthen its position in the functional raw materials sector, particularly in caffeine products, although the gross margin and profitability of these products have slightly declined compared to the previous year due to market factors [2].