新备案基金111支，募资认缴金额614.50亿元人民币 企查查数据显示，上周(06.23-06.29)中国证券投资基金业协会（简称"中基协"）新备案私募股权、创业投资基金共111支，累计募集认缴金额614.50亿元人民 币。从基金所属地区分布看，新备案基金数量最多是浙江省，新备案27支基金，合计占比24.32%；累计募资认缴金额最高是上海市、浙江省和北京市，占 比为上海市25.71% 、浙江省13.90%、北京市12.03%。募集认缴金额较大的基金是上海太保战新并购私募基金，规模98亿元，该基金由中国太平洋人寿保险 股份有限公司出资设立，太保私募基金管理有限公司担任私募基金管理人。重点投向集成电路、生物医药、人工智能、新一代信息技术、新能源与智能汽 车、高端装备、新材料、消费零售、商业服务等产业链的关键环节及设备更新、数字赋能、绿色转型、服务升级等传统行业转型升级的关键领域。 新备案私募基金数量表 193家LP认缴新备案私募基金532.87亿元人民币 企查查大数据研究院依据上周(06.23-06.29)新备案私募股权、创业投资基金信息，剔除GP及自然人后，涉及193家LP投资方企业（去重后），将未公开认缴 出 ...

学科建设与科研创新是"杏林红"驱动高质量发展的重要体现。该院传统优势学科骨伤科再次入选国 家级重点专科，中医心病学（心血管内科）则获批浙江省县级中医药特色优势学科建设项目。去年，医 院科研工作取得进展，共完成课题立项43项，其中包括省自然科学基金项目1项、省卫健委课题立项13 项。 在改善患者就医体验和服务社会方面，"杏林红"理念也转化为切实行动。该院着力优化院内环境， 完成了体检中心升级、康复科搬迁新址以及中医综合治疗区扩容。"舒髋健膝走康途"慈善项目在四川康 定落地实施，拓展了服务半径。同时，医院积极推进中医药文化传承，通过打造文化展示区、开展萧然 医派非遗保护工作，让中医药瑰宝焕发时代光彩。 近年来，该院擦亮"杏林红"党建品牌，深化党建与业务的融合，致力于为区域居民提供更优质的医 疗服务。在萧山区审计局的专项审计协同助力下，该院医共体总院构建起"专家下沉、师徒传承、技术 共享、资源辐射"的新型联动体系，推动优质医疗资源实现城乡共享。医院精选40名中医专家担任社区 卫生服务站"名誉站长"，让优质医疗资源下沉基层。目前，医共体内5家社区卫生服务中心已全部建成 中医阁，其中1家为旗舰中医馆。7位名中医在4家中 ...

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！ 从基本面来看，刘健认为，上市公司质量的提升为资本市场走稳走强提供坚实基础。上市公司是资本市 场之基，2024年A股上市公司合计实现营业收入72万亿元，近六成上市公司实现营收正增长，合计实现 净利润5.22万亿元，近八成上市公司实现盈利，有力支持资本市场企稳回升。分行业领域看，代表中国 经济新动能的人工智能、先进制造、生物医药等行业盈利快速提升，其中芯片设计和集成电路、消费电 子、创新药2024年分别实现净利润同比增长19%、13%、13%。与此同时，市场现金分红的稳定性、持 续性和可预期性均持续提升，2022年至2024年间，A股上市公司现金分红规模分别为2.1万亿元、2.2万 亿元、2.4万亿元，分红公司的平均股利支付率持续提升，当前沪深300指数成分股年化股息率重新回到 3%以上。另外，2024年有超过2000家上市公司实施了股份回购，累计回购金额超1500亿元。 从资金面来看，境内中长期资金成为市场稳定的 "压舱石"。近十年来，专业投资机构持股市值占比逐 年提升，特别是2022年以来，各类中长期资金持有A股市值和占比进一步上升，对 ...

Core Viewpoint - The article highlights the increasing popularity and effectiveness of "Sanfu Ties" (three-volt patches) in traditional Chinese medicine, particularly during the summer months for treating chronic conditions. Group 1: Industry Insights - The annual "Sanfu Ties" treatment is set to begin, with significant patient interest; over 5,000 patients are expected to be served this year by the Capital Medical University Affiliated Beijing Traditional Chinese Medicine Hospital alone [1][5] - The production of "Wen Yang Hua Tan" patches involves a meticulous process, combining six medicinal ingredients, each with unique therapeutic properties [3][4] - The production of these patches adheres to strict national quality management standards, ensuring high-quality medicinal products [4][5] Group 2: Traditional Medicine Practices - "Winter diseases treated in summer" is a distinctive feature of traditional Chinese medicine, leveraging the body's natural energy during summer to treat "yang deficiency cold-type" diseases [5] - The patches work by applying herbal medicine to specific body points, stimulating meridians and allowing for the absorption of medicinal components [5][7] - The integration of modern technology with traditional practices is evident, as the industry evolves to meet contemporary health needs while preserving ancient wisdom [7]

商保目录首次纳入调整方案，医疗保障法征求意见发布 请务必阅读正文之后的重要声明部分 报告摘要 医药板块跟随市场震荡上涨。本周沪深 300 上涨 1.95%，医药生物上涨 1.60%，处于 31 个一级子行业第 23 位，本周所有子板块均上涨，医疗服务、医疗器械、医药商业、 生物制品、中药、化学制药涨幅分别为 2.92%、2.10%、2.08%、1.97%、1.29%、 0.71%。本周医药各个子板块中，化学制药板块涨幅最小，创新药赛道在前期积累了 较大涨幅后，迎来短期阶段性调整，这也有利于产业逻辑的持续演绎。从基本面来看， 创新药仍是当前医药板块中产业趋势最为明确且具备未来成长空间的子行业，我们认 为全年维度创新药作为医药板块的投资主线不会变化，短暂调整后板块有望在分化中 持续上涨，在调整中建议坚守相对主流的优质创新药标的，以及将有 BD 或是数据催 化的公司。同时建议关注有积极变化的 AI 医疗/医药相关公司；Q2 逐步进入尾声，关 注 Q2 业绩较好，或者有望逐步走出困境的细分板块及个股。 相关报告 1、《回调不改创新药主线，政策助 2、《关注 ADA 会议催化，减重增肌 3、《创新行情持续火热，积极围绕 ...

Core Viewpoint - Chengdu Xian Dao announced the termination of its major asset restructuring deal with Nanjing Haina Pharmaceutical Technology Co., Ltd. after failing to reach consensus on key terms [1][3]. Group 1: Transaction Details - Chengdu Xian Dao intended to acquire approximately 65% of Haina Pharmaceutical through a cash equity transfer [3]. - Despite signing a letter of intent and conducting due diligence, the parties could not agree on core terms such as price, management control, and future strategic direction [3]. - The termination of this deal signifies a setback for Haina Pharmaceutical's plans for an IPO, which had been under review since June 30, 2023, and was ultimately withdrawn on June 24, 2024 [4]. Group 2: Company Performance - Chengdu Xian Dao's financial performance has shown a decline since its IPO, with net profits reported as approximately 64.02 million, 63.38 million, 25.27 million, 40.72 million, and 51.36 million from 2020 to 2024 [5]. - The company's stock has experienced a decline, with a current price of 16.57 yuan per share compared to the initial offering price of 20.52 yuan [5]. - The controlling shareholder, JIN LI, plans to increase his stake in the company by investing between 25 million and 50 million yuan within the next 12 months, indicating confidence in the company's long-term value [5].

截至2025年6月27日收盘，星湖科技（600866）报收于6.93元，较上周的7.33元下跌5.46%。本周，星湖 科技6月25日盘中最高价报7.07元。6月23日盘中最低价报6.81元。星湖科技当前最新总市值115.14亿 元，在化学制品板块市值排名25/169，在两市A股市值排名1404/5151。 本周关注点 机构调研要点 问：大盘屡创新高，而公司股价从年内最高点己下跌10%，是不是二季度经营业绩发生了？公司如何采 取措施，振二级市场的信心？答：公司目前生产经营情况正常，二季度的具体经营情况请关注公司的半 年度报告。股市的二级市场股价表现受宏观经济、市场流动性、投资者偏好等多重因素影响，具有不确 定性。公司重视投资者回报，坚持稳健经营，努力推动公司高质量发展。 问：（项目经济效益：经公司内部测算，基于当前市场销售价格和生产成本估算，预估项目达产后在满 产满销的情况下，预计可实现年销售收入约39亿元，毛利率约10%，全部动态投资回收期约5年（不含 建设期）。）请董秘按照目前味精的报价，公司味精的毛利率有10%吗？答：公司主营产品毛利率请参 见公司2024年年度报告第三节管理层讨论与分析之"五、报告期内主 ...

Investment Rating - The report initiates coverage with a "Buy" rating for the company [5][7]. Core Views - The internet healthcare sector is entering a stable growth phase, with online pharmaceutical retail penetration expected to accelerate. Non-pharmaceutical products like nutritional supplements and home medical devices are well-suited for online retail, while the pharmaceutical market's online penetration is still low but poised for growth due to changing consumer behaviors and regulatory support [6][27][30]. Financial Data and Profit Forecast - The company is projected to achieve revenues of RMB 27,026.56 million in FY2024, increasing to RMB 39,029.33 million by FY2028, reflecting a revenue growth rate of 0.98% in FY2024 and an average of 8.33% from FY2025 to FY2028 [2]. - Adjusted net profit is expected to rise from RMB 1,438.27 million in FY2024 to RMB 3,355.45 million by FY2028, with a significant growth rate of 91.64% in FY2024 [2]. - The report anticipates a gradual improvement in gross margin from 21.81% in FY2024 to 25.85% in FY2028, alongside an increase in return on equity (ROE) from 6.07% to 13.00% over the same period [2]. Company Overview - The company operates in three main segments: 1P pharmaceutical self-operated business, 3P pharmaceutical e-commerce platform business, and innovative healthcare and digital services [17]. - The self-operated pharmaceutical business accounted for 85.4% of the company's revenue in FY2025, while the e-commerce platform business contributed 11.7% [17]. Market Trends - The report highlights a favorable regulatory environment for online healthcare, with policies gradually promoting online medical insurance coverage and the legitimacy of internet hospitals [27][28]. - The penetration rates for nutritional supplements and home medical devices are increasing, while the pharmaceutical sector is expected to see rapid growth in online retail penetration due to evolving consumer preferences and regulatory changes [30][31]. Competitive Landscape - The competition in the internet healthcare sector is expected to stabilize, with a clear distinction emerging between B2C and O2O models. The report notes that while O2O instant retail will continue to grow, its penetration in certain product categories may remain limited [45][49]. Innovation and Growth Opportunities - The company is actively exploring AI applications in healthcare, enhancing operational efficiency and developing AI-assisted diagnostic tools. This strategic focus on AI is expected to improve service delivery and patient outcomes [52][58]. - The report also mentions the company's cloud hospital and digital service initiatives, which are anticipated to provide significant growth opportunities in the future [52].

在投资领域，特定科技股的投资价值日益凸显。认识特定科技股及其属性，对于投资者把握投资机会、降低风险至关重要。特定科技股通常指的是在科技领 域具有独特技术、创新能力或市场地位的公司股票。这些公司往往处于科技发展的前沿，涉及人工智能、半导体、生物医药等新兴领域。 要认识特定科技股及其属性，首先要关注公司的核心技术。核心技术是科技公司的立身之本，决定了公司的竞争力和发展潜力。例如，拥有自主研发的人工 智能算法、先进的半导体制造工艺等核心技术的公司，往往能够在市场中占据优势地位。其次，要考察公司的创新能力。科技行业发展迅速，只有不断创新 才能保持领先。投资者可以关注公司的研发投入、专利数量以及新产品推出的频率等指标，评估公司的创新能力。此外，公司的市场地位也是重要的考量因 素。市场份额较大、品牌知名度高的公司，通常具有更强的抗风险能力和盈利能力。 总之，认识特定科技股及其属性需要综合考虑多个因素，对于像石头科技这类股票的投资，要密切关注其技术创新、市场拓展和竞争格局等方面的变化，以 便做出更明智的投资决策。 以石头科技为例，它是一家专注于智能清洁机器人及相关电器研发和生产的科技公司。对于这类股票的投资关注方向，有以下 ...

Core Viewpoint - The article highlights the journey of Christin Masseli, a German practitioner of Traditional Chinese Medicine (TCM), who has dedicated over 10 years to studying and practicing TCM in China, promoting its principles and practices to a global audience [4][5][8]. Group 1: Background and Education - Christin Masseli's interest in TCM began in childhood, influenced by her family's tradition of using herbal remedies in Germany [4]. - After obtaining a law degree in Germany, she decided to pursue her passion for TCM, moving to Beijing to study at Beijing University of Chinese Medicine in 2014 [5][6]. - Despite initial challenges, including language barriers and health issues, she persevered and developed a deep understanding of TCM principles and practices [6][7]. Group 2: Practice and Philosophy - Masseli emphasizes the importance of treating all patients equally, regardless of their background, reflecting the core TCM philosophy of compassion and care [6][7]. - She employs a personalized approach to treatment, focusing on understanding each patient's unique condition and history [6][8]. - Masseli actively communicates the principles of TCM to her patients, using relatable explanations to bridge cultural differences [8][9]. Group 3: Cultural Promotion and Training - In addition to her clinical practice, Masseli is involved in promoting TCM culture through workshops and training sessions for foreigners interested in learning about TCM [8][9]. - She has organized cultural exchange events to introduce TCM concepts to international audiences, highlighting its holistic health benefits [8][9]. - Masseli's efforts contribute to the internationalization of TCM, with data indicating its presence in approximately 200 countries and regions worldwide [9].