Core Viewpoint - Dongyangguang Group is entering a new development stage with the upcoming IPO of Dongyangguang Pharmaceutical, marking a significant step in China's innovative pharmaceutical sector [1][5]. Group Overview - Established 28 years ago, Dongyangguang Group has grown from scratch to a private enterprise with over 30,000 employees and assets exceeding 80 billion yuan, becoming a leader in multiple industries including electronic new materials, biomedicine, and health care [1][2]. - The company has successfully cultivated two publicly listed companies with market capitalizations in the hundred billion range [1]. Industry Development - The group is actively expanding into the artificial intelligence and robotics sectors, recognizing the potential of AI as a new engine for high-quality development [2][3]. - Dongyangguang has established a complete fluorine and chlorine chemical industry chain, positioning itself as the only company in South China with such capabilities [4]. Pharmaceutical Sector - Dongyangguang Pharmaceutical has 150 globally approved drugs and over 100 in the pipeline, aiming to become a leading pharmaceutical enterprise in China and globally [5][6]. - The company has established a robust R&D system and has been recognized for its innovation, winning multiple awards and holding over 2,500 patents [6][11]. Health and Wellness Industry - The company has pioneered the ecological breeding of Cordyceps sinensis, achieving significant production milestones and aiming for an annual output of 100 tons with sales exceeding 10 billion yuan [7][8]. - Dongyangguang is developing a product matrix around Cordyceps, targeting the burgeoning health and wellness market [8]. Innovation and Internationalization - The group emphasizes innovation and internationalization as core strategies, having built a strong R&D platform and established a global sales network covering eight countries [9][12]. - Dongyangguang has made significant investments in R&D, including collaborations with international experts and institutions to enhance its competitive edge [11][12]. Social Responsibility - Dongyangguang Group has committed over 500 million yuan to public welfare and has created over 10,000 job opportunities, reflecting its dedication to social responsibility [14].

Group 1 - The stock price of Kewang Pharmaceutical closed at 16.51 yuan on July 30, 2025, down 1.14% from the previous trading day [1] - The trading volume on that day reached 287 million yuan, with a turnover rate of 2.96% [1] - Kewang Pharmaceutical is primarily engaged in the research, development, production, and sales of traditional Chinese medicine and chemical drugs, covering pediatric, gynecological, digestive, and respiratory fields [1] Group 2 - Kewang Pharmaceutical's wholly-owned subsidiary, Guangdong Kewang Pharmaceutical Co., Ltd., has completed a capital reduction process, decreasing its registered capital from 43 million yuan to 38 million yuan [1] - The company has obtained the latest business license following the capital reduction [1] - On July 30, the net outflow of main funds was 19.81 million yuan, accounting for 0.21% of the circulating market value [2]

Group 1 - The Chinese innovative drug industry is transitioning from "follow-up innovation" to "global leadership," with a record number of innovative drugs approved in the first half of the year [1][2] - In the first half of 2023, 43 innovative drugs were approved in China, representing a 59% year-on-year increase, compared to only 48 approvals for the entire year of 2024 [2][3] - China's innovative drug R&D pipeline accounts for about one-fourth of the global total, with approximately 3,000 clinical trials conducted annually, placing China at the forefront of global innovative drug development [2][3] Group 2 - Companies like Fosun Pharma and Hengrui Medicine have successfully launched multiple innovative drugs, with Hengrui having 23 first-class innovative drugs and 4 second-class innovative drugs approved domestically [3][4] - The commercialization of innovative drugs is leading to a recovery in performance for domestic pharmaceutical companies, with companies like Luoxin Pharma and MicuRx reporting significant profit increases [3][4] - The trend of Chinese pharmaceutical companies expanding internationally is accelerating, with a shift from license-in to explosive growth in license-out transactions, contributing nearly 50% of the total transaction value globally [4][5] Group 3 - Notable license-out deals include a partnership between 3SBio and Pfizer, with an upfront payment of $1.25 billion and a potential total deal value of $6.05 billion, setting a record for Chinese innovative drugs [5][6] - The rapid growth of license-out transactions is providing substantial cash flow for domestic innovative drug companies, supporting their core pipelines overseas and creating more collaboration opportunities with multinational pharmaceutical companies [6]

7月30日，A股三大股指走势分化，交易行情数据显示，截至下午收盘，上证综指、深证成指、创业板 指分别报收3615.72点、11203.03点、2367.68点，分别涨0.17%、-0.77%、-1.62%。但从年内涨幅来看， A股三大股指均上涨，分别涨7.88%、7.57%、10.56%。 在大盘走势向上的背景下，部分权益类基金的年内表现也颇为亮眼。同花顺iFinD数据显示，截至7月29 日，年内已有23只"翻倍基"。其中，前十大重仓股中均含医药板块个股的汇添富香港优势精选混合 （QDII）C以高达139.12%的年内收益率暂时领先其余产品。汇添富香港优势精选混合（QDII）A、长 城医药产业精选混合发起式A则紧随其后，年内收益率分别为138.9%、129.35%。 包括上述产品在内，年内23只"翻倍基"中，共有17只为创新药、医药相关产品，占比超七成，同时包揽 年内"翻倍基"前15名。还有长城医药产业精选混合发起式C、中银港股通医药混合发起A/C、永赢医药 创新智选混合发起A/C、华安医药生物股票发起式A/C、汇添富国证港股通创新药ETF、万家中证港股 通创新药ETF、广发中证香港创新药ETF（QDII）、 ...

Group 1: Investor Relations Activity - The investor relations activity involved a meeting with representatives from Taikang Asset and China Post Securities, held on July 30, 2025 [2] - The meeting was led by the Deputy General Manager and Board Secretary, Zeng Lei, along with the Securities Affairs Representative, Gan Rong [2] Group 2: Product Development and Market Strategy - The company is currently in the information reporting stage for the collection of the eleventh batch of the drug Loxoprofen Sodium Gel Patch, with no specific price reduction estimates available yet [2] - The company has six external preparations already on the market and expects to gain approval for additional products, including Indomethacin Gel Patch and Flurbiprofen Gel Patch in 2025, and Ketoprofen Patch and others in 2026 [2][3] - The company has made progress in export development, with 46 clients engaged, including successful exports of Nitazoxanide Tablets to Ecuador and preparations for the registration of Ketoprofen Gel in Costa Rica [4] Group 3: Sales Expectations and Brand Strategy - The Ketoprofen Gel Patch was approved for market entry in 2023 and is included in the national medical insurance directory, with optimistic market prospects and a new sales strategy focusing on outpatient markets [5] - The company aims to strengthen its internal sales team assessments to enhance the "Jiu Yue" brand of patches [5] Group 4: Innovation and R&D Investment - The company is developing a Class 1 innovative drug, Pepper Seven Pain Relief Gel Patch, and has entered into a technology transfer agreement for antibacterial and anti-inflammatory peptides [6] - In 2024, the company plans to invest CNY 261 million in R&D, representing 8.91% of its revenue, with a commitment to maintain this investment ratio for sustained innovation and market competitiveness [7]

在年内大盘整体上涨的背景下，部分权益类基金也交出了亮眼的成绩单。公开数据显示，截至7月29日，共有23只基金（份额分开计算，下同） 的年内收益率实现翻倍，其中有七成为医药相关基金。若拉长时间至近一年来看，则有多达134只"翻倍基"，其中，医药相关基金占比超四成，收 益率最高超160%。展望后市，业内人士仍看好创新药等细分方向，但也有观点提醒需注意短期回调可能带来的风险。 15只医药基金年内收益翻倍 业内仍看好创新药领域 从主动型医药主题基金的最新重仓情况来看，部分涨幅较高的产品重仓股大致相同。例如，截至2025年二季度末，前述提及的长城医药产业精选 混合发起式的前十大重仓股包括三生制药、信达生物、热景生物、一品红、石药集团、泽璟制药、益方生物、诺诚健华、科伦博泰生物-B、康弘 药业。 同期，永赢医药创新智选混合发起式、中欧医疗创新股票的前十大重仓股中也均持有三生制药、科伦博泰生物-B。交易行情数据显示，截至7月 30日收盘，三生制药、科伦博泰生物-B在年内累计上涨428.9%、138%。 对于当前医药板块的投资机遇，前海开源基金首席经济学家杨德龙表示，"上半年创新药板块带动相关医药基金上涨或是中长期趋势，下半 ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report No explicit core viewpoints are presented in the given text. The report mainly focuses on analyzing the performance, scale,持仓 characteristics, and fund companies of Hong Kong stock funds. 3. Summaries Based on Related Catalogs 3.1 Hong Kong Stock Fund Performance and Scale Development - **Risk - Return Indicators**: Different types of Hong Kong stock funds, including Hong Kong Stock Connect - ETF & Passive Index, Hong Kong QDII - ETF & Passive Index, Hong Kong Stock Connect - Active, and Hong Kong QDII - Active, have varying returns, maximum drawdowns, and annualized Sharpe ratios over different time periods (1 quarter, 1 year, 3 years, and 5 years). For example, the Hong Kong QDII - Active fund had a 10.22% return in the recent quarter [13]. - **Scale and Share Changes**: There are data on the scale development and share changes of different types of Hong Kong stock funds, as well as the new issuance situation of Hong Kong stock funds in each quarter [17][22]. 3.2 Hong Kong Stock Fund Holding Characteristics - **Stock and Hong Kong Stock Positions**: Information on the stock positions and Hong Kong stock positions of different types of Hong Kong stock funds over the past five years is provided, along with the distribution of stock and Hong Kong stock positions [24][27]. - **Sector Allocation**: The sector allocation of Hong Kong stock funds shows that industries such as media, commerce and retail, and electronics are among the top - allocated sectors. There are also changes in the proportion of different sectors over time [31][35]. - **Heavy - Holding Stocks**: The heavy - holding stocks of Hong Kong stock funds include companies like Tencent Holdings, Xiaomi Group - W, and Alibaba - W. There are also data on the top 10 stocks by market value ratio, the top 10 stocks with increased or decreased allocation, and the top 10 stocks by the number of heavy - holding funds [37][39]. 3.3 Hong Kong Stock Fund Company Analysis - **Fund Company Scale**: The top 20 fund companies in terms of Hong Kong stock fund scale in 2025Q2 are listed, along with their scale in 2025Q1, scale changes, and ranking changes. For example, China Asset Management had a scale of 1009.3 billion yuan in 2025Q2, with a 9.61% increase from 2025Q1 [47]. - **Heavy - Holding Industries and Stocks**: The heavy - holding industries (at the Shenwan primary level) and heavy - holding stocks of the top 20 fund companies in terms of Hong Kong stock fund scale are presented, along with the proportion of heavy - holding stocks and their changes [50][51]. 3.4 Performance - Outstanding Hong Kong Stock Fund Holding Display and Quarterly Report Views - **Funds Holding "Top 50 Rising Stocks"**: Some actively managed Hong Kong stock funds that held "top 50 rising stocks" in 2025Q2 are listed, including their fund codes, names, types, 2025Q2 returns, fund managers, total scale, and the stocks they held, along with the stocks' 2025Q2 rising percentages and the proportion of the stocks' market value in the fund's net value [54][55]. - **Quarterly Report Excerpts**: Excerpts from the 2025 second - quarter reports of some performance - outstanding actively managed Hong Kong stock funds are provided, including their performance, fund managers, total scale, and investment strategies. For example, the Huatai - PineBridge Hong Kong Stock Connect Advantage Select A fund plans to invest in innovative drug companies and excellent equipment and consumable leading companies with high barriers [57][58].

注3:基金有风险,投资须谨慎,详阅基金法律文件及交易所、结算公司等相关业务规则, | 人类ARE MA | -0.3% | 58.4倍 | 90.1% | | --- | --- | --- | --- | | 生物科技ETF(No3) | | | 159837 | | 跟踪中证生物科技主题指数 | | | | | | | | ··· | | 该指数聚焦A股生物科技龙 | 令日 | 该指数 | 该指数自2015年 | | 头,由不超过50只业务涉 | 该指数涨跌 | 突动市常率 | 发布以来估值分位 | | 及基因诊断、生物制药、血 | | | | | 液制品及其它人体生物科技 | -0.3% | 61.2倍 | 79.7% | | 的公司股票组成。 | | | | | 矢约日 ONLY | | | 512010 | | 跟踪沪深300医药卫生指数 | | | | | | | | ··· ////////// | | 该指数聚焦A股医药卫生行 | | | | | 业龙头,由沪深300指数样 | �日 | 该指数 | 该指数自2007年 | | 本中属于医药卫生行业的公 | 该指数涨跌 | 发动市常奖 | 发布 ...

| 该指数完整覆盖人工智能 | | | | --- | --- | --- | | 产业链,涵盖上游基建、 | 令日 | 该指数 该指数自201 | | 中游模型、下游应用等环 | 该指数涨跌 | 滚动市盈率 发布以来估值 | | 节，是人工智能产业的代 | | | | 表性指数,全面捕捉人工 | -1.2% | 3.9倍 56.8% | | 智能产业未来发展机遇。 | | | 截至收盘，中证人工智能主题指数、中证云计算与大数据主题指数均下跌1.2%，国证机器人产业指数、中证新能源指数均下跌1.7%，恒生港股通创新药指 数下跌1.9%。 近期，国药集团与华为将进一步深化合作，聚焦医药与人工智能融合。双方高层会谈明确将在数字化顶层规划、医药大模型研发及应用等领域协同发力。自 2020年起，双方已在数字化转型、医药流通等多领域联手，借助AI提升药物研发效率、优化临床诊断等。 | 该指数聚焦云计算产业, | | | | | --- | --- | --- | --- | | 覆盖各类计算设备和计算 | マ日 | 该指数 | 该指数自20 | | 服务相关领域,由业务涉 | 该指数涨跌 | 滚动市销率 | 发布以来估 ...

作者 | 第一财经 邹婷、赵怡闻、沈赐韵、孔凡天 爆款、上市、融资、出海，这是今年中国创新药产业的四大关键词。这些动作绝非一朝一夕的博弈，而 是历经过去数年的资本"寒潮"、行业波动和周期冷暖后，自我倒逼、奋力突围、穿越周期的结果。 把镜头拉回上海。去年上海三大先导产业规模达1.8万亿元，其中生物医药产业规模超9800亿元。今 年，这一数字有望突破万亿大关。行业迎来拐点，企业何尝不是。"上海药圈新拐点"系列报道，将独家 专访三家扎根上海的上市药企掌舵人，共同讲述当全球创新药行业进入"中国时间"，作为上海打造生物 医药产业高地的侧影，他们如何腾挪和突破，迎接属于自己的新拐点。 节目第一集，将走进一家从上海浦东走出来的"超级IPO"——映恩生物。这家ADC药物的明星企业，于 今年4月上市，创下了2022年以来港股18A最大融资规模。其创始人曾是一位资深投资人，孵化过多家 上市公司。现在他亲自下场，结果会有什么不同？他又为何选择上海？第一财经记者将与之深度对话。 2025.07.30 本 文字数：2393，阅读时长大约4分钟 ...