7月10日，迪哲医药(688192.SH)舒沃哲(ZEGFROVY，通用名：舒沃替尼片)被纳入美国国立综合癌症网 络(NCCN)非小细胞肺癌指南推荐，用于治疗经治表皮生长因子受体(EGFR)20号外显子插入突变 (exon20ins)非小细胞肺癌(NSCLC)。舒沃哲成为全球唯一纳入国际权威肺癌指南的EGFR exon20ins NSCLC小分子靶向药。 早前，舒沃哲已于7月3日通过优先审评获美国食品药品监督管理局(FDA)批准上市，成为全球首个且唯 一在美国获批的EGFR exon20ins NSCLC国创新药，也是中国首个独立研发在美获批的全球首创新药。 在7月12日于北京举办的舒沃哲美国获批新闻发布会上，"悟空1B"(WU-KONG1B)一位主要研究者、台 湾大学癌医中心分院杨志新教授表示："舒沃替尼'强效缩瘤、安全可控'的特性，让我们看到了其全球 同类最佳的潜力。从研究者的角度来看，舒沃替尼的创新意义远超过这一个药品的本身，它打破了长期 以来EGFR exon20ins缺乏兼具'疗效、安全性、便利性'小分子口服靶向药物治疗的僵局，为患者带来更 优治疗选择。" 舒沃哲中国注册临床研究(悟空6，WU-KO ...

新京报贝壳财经讯（记者丁爽）7月11日，以"中国经济：开放与韧性共生长"为主题的2025贝壳财经年会在北京召开。在当天下午的圆桌论坛环节，诺诚健 华首席财务官傅欣表示，好的创新药只有通过国际化才能体现其全球竞争力，对于具备扎实的临床数据和快速研发能力的创新药企来说，出海是必然选择。 国内企业可借鉴国际成功经验，先通过与当地伙伴合作进入海外市场，熟悉各个国家法规监管要求，积累运营经验，再结合自身优势和发展战略，逐步完善 和加强海外市场的职能和人才储备，实现全球化布局。 2019年—2021年，很多公司在黄金周期登陆资本市场，2021年至今，又经历了泡沫调整周期。在这过程中，国家对于创新药产业的支持政策不断出台，中国 生物医药企业的基本面在整体提升。从2024年下半年至今，资本市场对创新药关注度不断提高，中国生物创新药走过了第一个完整的周期，经历了高点和低 点。回顾中国创新药过去十年的蓬勃发展，傅欣表示，在资金、技术、人才、政策的支持下，我国创新药产业培育了一批有潜力在全球开展竞争的高科技技 术企业。 诺诚健华首席财务官傅欣。 "创新药的特点是投资时间长、风险高、投资眼光决定投资回报。作为创新药企，我们特别需要耐 ...

数字原生代掀起科技风暴 全球极客盛宴再启新章 在代码与创意碰撞的数字时代，Z世代正以颠覆性的创造力重新定义技术边界。2023年，由两位00后极客领衔发起的AdventureX 全球黑客马拉松，以其独特的青春视角点燃了全球技术社群的热情。这场被誉为 "开发者世界杯"的顶级赛事， 不仅云集了六大洲的 新锐程序员，更凭借其开放共享的极客文化与突破性的项目孵化机制，持续刷新着人们对年轻一代技术能力的认知。 从硅谷到中关 村， 这场持续72小时的数字狂欢正在书写属于新一代技术领袖的传奇。 从校园到世界： AdventureX的成长之路 AdventureX的故事始于两位00后高中生—— 朱浩宇和徐晨 的大胆构想。在高二那年，他们萌发了一个为国内年轻人打造黑客松的 创意，并立即付诸行动，组建起一支充满活力的年轻团队。 经过九个月的艰苦奋斗，这个年轻的团队创造了令人瞩目的成绩：从零起步筹集到百万元赞助资金，成功邀约百余位来自科技和创 投领域的顶尖嘉宾。首届活动便吸引了全球182个国家和地区的近4500名参赛者，参赛群体涵盖中学生、大学生及年轻开发者等多 元背景。 今年，AdventureX实现全新突破：规模持续扩大，场地全 ...

证券研究报告·公司点评报告·专业服务 广电计量（002967） 2025 年半年报业绩预告点评：归母净利同比 +20%，战略转型与政策拉动共振增长 增持（维持） | [Table_EPS] 盈利预测与估值 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 2,889 | 3,207 | 3,541 | 3,916 | 4,330 | | 同比（%） | 10.94 | 11.01 | 10.41 | 10.59 | 10.58 | | 归母净利润（百万元） | 199.39 | 352.11 | 399.85 | 453.84 | 515.44 | | 同比（%） | 8.39 | 76.59 | 13.56 | 13.50 | 13.57 | | EPS-最新摊薄（元/股） | 0.34 | 0.60 | 0.69 | 0.78 | 0.88 | | P/E（现价&最新摊薄） | 52.48 | 29.72 | 26.17 | 23.06 | 20.30 | ◼ 业绩稳 ...

Group 1 - The core viewpoint is that China has become the world's leading technology superpower, as evidenced by its top ranking in the "Nature Index" for research strength and a significant number of patents [1][2] - China has surpassed the United States in various applied technology fields such as 5G/6G, quantum technology, high-speed rail, aerospace, AI, autonomous driving, and renewable energy [2] - The article emphasizes that while basic research is important, China's focus on applied technology aligns better with its modernization needs [2] Group 2 - China's technology investment in 2023 was approximately $468 billion, compared to the United States' $607 billion, indicating a 77.1% investment level relative to the U.S. [3] - Despite lower investment, China's technology output is significantly higher than that of the U.S., with an efficiency ratio of 4 times in general and up to 10 times in specific fields like aerospace [3] - The article discusses the impact of currency valuation, suggesting that China's GDP, when adjusted for actual exchange rates, exceeds that of the U.S. [3] Group 3 - The article outlines several factors contributing to China's technological advancement, including efficiency, favorable policies for R&D, and a strong collaborative system among various sectors [4][5] - The Chinese government provides substantial support for technology enterprises through tax incentives and financial subsidies, fostering innovation [4] - The article highlights the importance of problem-driven innovation, stating that as the world's largest manufacturing country, China faces numerous challenges that drive technological solutions [5] Group 4 - The conclusion drawn is that China's status as a technology superpower is not coincidental but a result of deliberate strategies and policies [6] - The article advocates for China to confidently assert its position as a leading technology nation in the face of Western challenges [6][7]

Group 1 - Nvidia has become the first company in history to surpass a market value of $4 trillion, significantly increasing the wealth of its CEO Jensen Huang, who has gained nearly $30 billion this year alone [2] - Huang's net worth has reached approximately $144 billion, making him the 10th richest person globally, and his wealth is about twice that of China's latest richest person, Zhang Yiming [2] - Huang's rise to wealth marks a historical moment as he becomes the first Chinese billionaire to reach a net worth of over 1 trillion RMB, highlighting the shift of the Chinese billionaire status to the U.S. [2] Group 2 - The article reflects on the historical context of Chinese billionaires, noting that the first Chinese billionaire, Wang An, emerged in the U.S. over 40 years ago, achieving significant wealth through technological innovation [3] - Wang An founded Wang An Computer after feeling slighted by IBM, and his company achieved remarkable success with the Word Processing System, securing a $480 million contract with the U.S. Air Force [3] - Despite his initial success, Wang An's company declined due to misjudgments about the personal computer trend and subsequent management errors, illustrating the challenges faced by tech entrepreneurs [3] Group 3 - The article emphasizes the importance of innovation and technology in achieving wealth, suggesting that competition should focus on technological advancements rather than price wars or labor exploitation [4] - It raises questions about societal attitudes towards billionaires in China, pondering whether a trillionaire emerging from China would be accepted and respected [4] - The narrative suggests that while there is a perception of intense competition in China, there may still be room for improvement in terms of innovation and technological advancement [4]

Group 1 - The core viewpoint highlights China's continuous innovation breakthroughs, marked by significant achievements such as the launch of the first domestically produced aircraft carrier Fujian, the operational commencement of the world's first fourth-generation nuclear power plant, and the commercial flight of the C919 aircraft [1][3]. - The innovation breakthroughs are attributed to a systematic strategic framework that enhances the efficiency of basic research transfer and transformation, with R&D investment intensity reaching 2.68% and the proportion of basic research increasing to 12.3% by 2024 [3][4]. - The collaborative effort across society is emphasized, where government, enterprises, research institutions, and markets work in sync to drive innovation, exemplified by the continuous advancements in the electric vehicle industry, which has led to China maintaining the world's largest production and sales of new energy vehicles for ten consecutive years [4][6]. Group 2 - The sustainable supply of talent is identified as a key driver of innovation, with China having the largest total human resources and R&D personnel globally, producing over 5 million graduates annually in science, technology, engineering, and mathematics [6][7]. - Looking ahead to the 15th Five-Year Plan, innovation is positioned as the core driving force for high-quality development, with a focus on strengthening basic research, enhancing collaborative innovation, and building a robust talent pipeline to ensure continuous innovation momentum [7].

Group 1 - The core viewpoint of the news is that Dizhihua's drug, Shuwotini (舒沃替尼片), has been included in the National Comprehensive Cancer Network (NCCN) guidelines for the treatment of non-small cell lung cancer (NSCLC) with EGFR exon 20 insertion mutations, marking it as the only small molecule targeted therapy recognized globally for this specific mutation [1] - Shuwotini is an oral, irreversible, highly selective EGFR tyrosine kinase inhibitor designed for patients with locally advanced or metastatic NSCLC who have progressed after platinum-based chemotherapy or are intolerant to it, and have confirmed EGFR exon 20 insertion mutations [1] - The successful approval of Shuwotini by the FDA was highlighted during a press conference, where a leading researcher emphasized its potential to reshape treatment paradigms in the field of lung cancer [1] Group 2 - The founder and CEO of Dizhihua, Dr. Zhang Xiaolin, articulated the company's commitment to "source innovation" and "global competition," emphasizing the successful development and approval of a globally innovative drug from inception to market [2] - Dr. Zhang outlined the "Dizhihua Path," which includes a solid scientific foundation, early collaboration with top international research centers, and a strategic focus on product investment [2] - The company aims to integrate Chinese cultural elements into its projects to facilitate global recognition of Chinese innovation, with Shuwotini's approval in the U.S. exemplifying the "Wukong Spirit" of breaking boundaries through scientific strength [2]

www.hczq.com 证券研究报告 | 医药生物 | 2025年7月12日 华创医药投资观点&研究专题周周谈 · 第134期 中药企业的创新布局 联系人：高初蕾 赵建韬 华创医药团队： 首席分析师 郑辰 联席首席分析师 刘浩 医疗器械组组长 李婵娟 中药和流通组组长 高初蕾 分析师 王宏雨 分析师 朱珂琛 执业编号：S0360520110002 邮箱：zhengchen@hcyjs.com 执业编号：S0360520120002 邮箱：liuhao@hcyjs.com 执业编号：S0360520110004 邮箱：lichanjuan@hcyjs.com 执业编号：S0360524070002 邮箱：gaochulei@hcyjs.com 执业编号：S0360523080006 邮箱：wanghongyu@hcyjs.com 执业编号：S0360524070007 邮箱：zhukechen@hcyjs.com 本报告由华创证券有限责任公司编制 卖的出价或询价。本报告所载信息均为个人观点，并不构成对所涉及证券的个人投资建议。 请仔细阅读PPT后部分的分析师声明及免责声明。 @2021 华创 版权所有 第一部 ...

投资建议：公司在泡卤工艺方面具有深厚积累，作为泡椒凤爪龙头持续开拓新品类，积极拥抱新兴渠 道，会员店、零食量贩实现快速放量，看好公司长期发展。我们预计公司2025-2027 年营业收入分别为 16.75/20.21/24.26 亿元，分别同比增长41.66%/20.67%/20.02%，预计公司2025-2027 年实现归母净利润 2.19/2.61/3.17 亿元，分别同比增长39.36%/19.24%/21.32%，对应25-27 年PE 为24.2/20.3/16.8X，维持"推 荐"评级。 风险提示：需求不及预期风险；行业竞争加剧风险；食品安全风险 会员店持续拓品验证强大产品创新能力，关注渠道定制化产品机会。今年以来公司持续在会员店渠道拓 品（素食礼包和酸汤双脆），下半年有望贡献较大收入增量。公司的产品能力已经得到充分验证，随着 下游渠道定制化需求不断提升，公司有望不断加深与零食量贩系统、大型商超等渠道合作，开发出更多 定制化差异产品。除会员店渠道外，公司积极拥抱零食量贩、抖音等渠道，保持快速增长。 产品推新加速，关注新品铺货进展。近几年公司加快产品研发推新步伐，在泡椒凤爪大单品基础上补充 了鸡脚筋、 ...