①固态电池+海工装备+光刻机+芯片概念！这家公司获得半导体掩模版直写光刻机订单，与客户在固态电 池方面有相关接洽合作；②人形机器人+海工装备+核电+数据中心！这家公司有人形机器人和机器狗相关 线缆订单；③减肥药+合成生物+CRO！公司公司多肽原料药产能达到吨级。 前言 每周日至每周四推送明日股市重大公告！内容包含"停复牌、增减持、投资中标、收购、业绩、解禁、 高送转"等一系列个股利好利空公告，其中重要公告均以红色标注，帮助投资者提前寻找到投资热点， 防范各类黑天鹅事件，并且有充足的时间进行分辨和寻找合适的上市公司。 ...

债券研究 证 券 研 究 报 告 【债券分析】 2025H1 可转债复盘：一波三折，强势表现 宏观叙事下随正股波动，稳定性更胜一筹 2025年上半年，转债在多重因素驱动下呈"N"型向上波动。横向比较来看， 转债指数在 2025 上半年较主要股指均表现强势，估值较 2024 年底抬升 3.58pct。从指数走势来看，2025年上半年转债市场两起两落，可根据事件驱动 和表现划分为三个阶段，主要包括2024年底到春节前转债资金面支撑下的估 值抬升、春节后至三月底的科技板块主题热、4月初至6月关税扰动波折下转 债随权益市场回调与反弹。 转债条款："老龄化"下更多的强赎退出，下修触发次数回落。在年初主题热 点催化下转债平价结构快速修复，较多转债实现强赎条款触发，上半年共计57 只转债退市，合计 96只转债触发强赎，其中36只转债公告实施赎回，强赎概 率 37.5%，较 2024年的 42.4%小幅回落。下修触发次数回落，下修概率降低。 上半年合计 218只转债 365次触发下修条款，有42支转债公告提议下修共计 43 次，提议下修占触发下修概率 11.78%，较 2024 年降低 6.41pct。此外，回 售期的转债数 ...

①海洋经济+稀土永磁+光刻胶+核电！这家公司海洋平台外加电流系统取得市场突破；②商业航天+低空 经济+机器人+核电！这家公司紧固件产品已成功进入商业火箭领域；③创新药+减肥药+华为盘古大模 型！公司在研创新药项目共10余项。 每周日至每周四推送明日股市重大公告！内容包含"停复牌、增减持、投资中标、收购、业绩、解禁、 高送转"等一系列个股利好利空公告，其中重要公告均以红色标注，帮助投资者提前寻找到投资热点， 防范各类黑天鹅事件，并且有充足的时间进行分辨和寻找合适的上市公司。 前言 ...

文｜九州商业观察 一场仅维持58天的商业联姻戛然而止，揭开全球减肥药巨头在仿制药围攻与创新药受挫下的生存危机。 这场突如其来的"离婚"引发市场巨震。Hims股价单日暴跌近30%，市值蒸发约50亿美元，跌回与诺和诺 德合作前的水平。诺和诺德自身股价也一度重挫超9%，市值瞬间缩水90亿美元。 诺和诺德指责的核心在于Hims & Her未遵守禁止大规模销售配制药的法律，利用虚假的"个性化"定制规 避监管，且营销行为危及患者安全。公司尤其强调，对配制药中"非法外国活性药物成分"的担忧。 短命联姻：合作破裂背后的"致命分歧" 这场轰动行业的合作始于2025年4月29日。彼时，诺和诺德宣布与Hims & Hers达成协议，将直接通过后 者平台提供正版减肥药Wegovy。 双方最初的设想颇为美好：随着Wegovy在美国供应恢复正常，Hims & Hers将帮助引导患者从非正规配 制药转向正版产品。诺和诺德则借此拓展数字渠道，触及更广泛用户。 现实却迅速走向失控。"对于跨国药企来说，合规大于一切。" 多年互联网医疗从业者王成向虎嗅强 调。医药产业基于强监管形成的旧秩序，正受到远程医疗新业态的空前挑战。 诺和诺德调查发现，Hi ...

每周日至每周四推送明日股市重大公告！内容包含"停复牌、增减持、投资中标、收购、业绩、解禁、 高送转"等一系列个股利好利空公告，其中重要公告均以红色标注，帮助投资者提前寻找到投资热点， 防范各类黑天鹅事件，并且有充足的时间进行分辨和寻找合适的上市公司。 ①创新药+脑机接口+减肥药+人工智能！这家公司MWN101注射液已完成肥胖和II型糖尿病的二期临床试 验；②稳定币+区块链+华为+机器人+互联网金融！这家公司区块链技术积累可以应用于数字人民币的相 关业务；③AI智能体+DeepSeek+跨境电商+三胎！公司与火山引擎联合打造垂类大模型及若干智能体。 前言 ...

减肥药概念资金流入榜 | 代码 | 简称 | 今日涨跌幅 | 今日换手率 | 主力资金流量（万 | 主力资金净流入比率 | | --- | --- | --- | --- | --- | --- | | | | （%） | （%） | 元） | （%） | | 300723 | 一品红 | 14.72 | 5.65 | 16839.73 | 13.25 | | 301263 | 泰恩康 | 3.53 | 5.77 | 13097.62 | 20.64 | | 688136 | 科兴制 | 15.62 | 8.32 | 9780.36 | 14.10 | | | 药 | | | | | | 300765 | 新诺威 | 6.60 | 1.08 | 9256.95 | 12.74 | | 002294 | 信立泰 | 6.19 | 1.26 | 7948.95 | 11.50 | | 002317 | 众生药 | 4.06 | 12.39 | 7284.63 | 5.01 | | | 业 | | | | | | 603087 | 甘李药 | 3.29 | 2.65 | 5907.38 | 7.18 | | | 业 ...

浙商俞德超，带来了一款重磅减肥新品。 6月27日，他签发公告宣布，信尔美®（玛仕度肽注射液）新药上市申请获批，用于成人肥胖或超重患 者的长期体重控制。 这款药，在现有减重药物中疗效突出。 有临床数据显示，治疗20周，体重能减去超过两成，降低肝脏脂肪含量超八成，腰围减少达11cm，还 能兼顾改善血糖、血压、血脂、转氨酶水平等心血管及代谢指标。 有私立医院给出的报价，若按一周一针计算，月开销大概在1500—3000元左右。 玛仕度肽作用机制 "基于此，可通过激动GLP-1受体，达到降低血糖和减轻体重的治疗效果。" 信达临床开发副总裁钱镭解 释。 GCG则由胰岛α细胞分泌，GCG受体主要在肝脏中表达，将其激活可增强脂肪氧化、促进能量消耗，其 在改善肝脏脂肪代谢方面具有独特效果。 对俞德超来说，这是其在代谢领域的基石产品，他将有一张王牌，竞逐百亿级减肥药市场。 后来居上 俞德超的新药，可谓生逢其时。 "中国已成为全球肥胖大国，约有5亿人超重或肥胖。"复旦大学附属中山医院李小英教授告诉 《21CBR》记者，近9成肥胖患者伴有合并症，最常见的是脂肪肝。 减肥药物也空前火爆。有预测，2025年中国GLP-1减肥药规模，将突 ...

Company Highlights - Hanyu Pharmaceutical expects a net profit of 142 million to 162 million yuan for the first half of 2025, benefiting from increased global market demand and successful product approvals [1] - Taotao Automotive anticipates a net profit growth of 70% to 98% year-on-year for the first half of 2025, driven by enhanced brand influence and improved operational efficiency [2] - Xiaogoods City projects a net profit increase of 13% to 17% for the first half of 2025, attributed to growth in main business revenue and trade fulfillment services [2] - Hongxin Electronics signed contracts totaling 373 million yuan for computing power services through its subsidiaries [3] - Alloy Investment's controlling shareholder will change to Jiuzhou Hengchang, leading to the resumption of trading [3] - Hangzhou High-tech is planning a change in control, with a suspension of trading expected for no more than two trading days [4] - Junpu Intelligent signed a sales framework contract for humanoid robots worth 28.25 million yuan [7] - Lens Technology plans to issue 262 million H-shares globally, with an initial price range set between 17.38 and 18.18 HKD [8] - Saintno Biopharmaceuticals received a drug registration certificate for its product, further enhancing its market competitiveness [12] Investment & Contracts - Shenzhen Energy plans to invest 6.332 billion yuan in upgrading the Mawan Power Plant, aligning with national energy policies [17] - China Railway Construction won a contract worth 3.781 billion yuan for the China-Kyrgyzstan-Uzbekistan railway project [27] - China Railway secured contracts totaling approximately 5.343 billion yuan for the same railway project [28] - Zhongtian Technology's subsidiary won multiple marine energy project contracts totaling about 1.722 billion yuan [29] - Lande Group intends to acquire a 20.1667% stake in Jujia Technology for up to 121 million yuan, enhancing its capabilities in high-performance materials [21][22] Financing & Capital Increase - Yiwei Lithium Energy submitted an application for H-share issuance and listing in Hong Kong [30] - Jiadou Technology plans to issue H-shares and list on the Hong Kong Stock Exchange [30] - Helin Micro-Nano is preparing to issue H-shares for listing in Hong Kong [30] Other Developments - Renfu Pharmaceutical received approval for its midazolam injection in France, with expected annual sales of approximately 33 million USD [31] - Kanghong Pharmaceutical obtained a drug registration certificate for its eye drop product, enhancing its product pipeline in the ophthalmology sector [32]

Investment Rating - The investment rating for the pharmaceutical and biotechnology industry is "Positive" (maintained) [2] Core Insights - The report highlights the emergence of multiple promising weight loss drugs showcased at the 2025 ADA conference, focusing on AMYR and ActRII target drugs, which exhibit excellent clinical data and are expected to become core targets for future weight loss drug development [6][15] - The report emphasizes the potential of oral and ultra-long-acting drugs in the weight loss and glycemic control market, which are anticipated to open new incremental market opportunities [8][31] - The report recommends several pharmaceutical and biotechnology companies as investment targets, including Heng Rui Medicine, East China Medicine, and others across various segments such as CXO, research services, traditional Chinese medicine, raw materials, medical devices, and retail pharmacies [9] Summary by Sections 1. Weight Loss Drug Developments - The 2025 ADA conference showcased several potential pipeline drugs for weight loss, with a focus on AMYR and ActRII target drugs, which are expected to lead future developments in this area [15] - AMYR-targeted drugs, such as eloralintide from Eli Lilly, demonstrated superior efficacy and safety compared to GLP-1 drugs, indicating a promising future for this class of drugs [16][18] - ActRII-targeted drugs, particularly Bimagrumab, showed significant weight loss results, with 100% of weight loss coming from fat, suggesting a new standard for high-quality weight loss therapies [28][29] 2. Oral and Ultra-Long-Acting Drugs - The report identifies oral GLP-1RA drugs as a new trend in the weight loss and glycemic control market, with several companies presenting promising clinical data at the 2025 ADA conference [31][32] - The ultra-long-acting drug Maridebart cafraglutide demonstrated effective weight loss results with extended dosing intervals, enhancing patient compliance and treatment simplicity [33][34] 3. Recommended Investment Targets - The report lists various companies across different segments as recommended investment targets, including pharmaceutical and biotechnology firms, CXO companies, research service providers, traditional Chinese medicine manufacturers, raw material suppliers, medical device companies, and retail pharmacies [9]

Shares in biopharmaceutical company Viking Therapeutics (VKTX 5.35%) were up by 6.3% at 12:30 a.m. ET today. The move likely stems from the market digesting the previous day's news that Viking had initiated a phase 3 trial of its most promising program in its pipeline, namely VK2375, a treatment for metabolic disorders, including obesity.Why VK2375 is exciting investorsThere are probably two key reasons why the market likes the initiation of a phase 3 trial:VK2375 is a dual GLP-1/GIP receptor agonist simila ...