1、2024年年报，海普瑞于 1998 年成立于深圳，是拥有 A+H 双融资平台的领先跨国制药企业，主要业 务覆盖肝素产业链、生物大分子 CDMO 和创新药物的投资、开发及商业化，致力于为全球患者带去高 质量的安全有效药物和服务，护佑健康。 2、赛湾生物具备向客户提供mRNA疫苗开发及生产CDMO服务的能力。赛湾生物凭借优秀的工艺开 发、准时交付以及成功的运营能力，继续推进mRNA疫苗供应链的工作，支持全球多个已商业化的 mRNA疫苗的生产。 3、深圳市海普瑞药业集团股份有限公司的主营业务是肝素产业链，生物大分子CDMO和创新药物的投 资，开发及商业化。 4、根据2024年年报，公司海外营收占比为93.04%，受益于人民币贬值。 (免责声明：分析内容来源于互联网，不构成投资建议，请投资者根据不同行情独立判断) 来源：新浪证券-红岸工作室 2月2日，海普瑞跌4.28%，成交额8013.64万元，换手率0.53%，总市值173.73亿元。 异动分析 创新药+生物疫苗+CRO概念+人民币贬值受益 技术面：筹码平均交易成本为11.65元 该股筹码平均交易成本为11.65元，近期筹码减仓，但减仓程度减缓；目前股价靠近支 ...

Macro Dynamics - The first APEC Senior Officials' Meeting in 2026 will be held in Guangzhou from February 1 to 10, marking the first formal event of APEC China Year [2] Energy Sector - By the end of 2025, China's total installed power generation capacity is expected to reach 389 million kilowatts, a year-on-year increase of 16.1%. Solar power capacity will reach 120 million kilowatts, up 35.4%, while wind power capacity will reach 64 million kilowatts, up 22.9% [3] Financial Institutions - China Construction Bank announced the appointment of Tang Shuo as the new vice president, with the approval from the National Financial Regulatory Administration [8] - Ping An Life increased its stake in China Life H-shares to 9.14%, acquiring 11.891 million shares at an average price of HKD 32.0553 per share, totaling approximately HKD 381 million [9] Market Data - On January 28, the A-share market showed mixed results, with the Shanghai Composite Index rising by 0.27% and the Shenzhen Component Index increasing by 0.09%. The total trading volume was approximately CNY 29,654.1 billion, an increase of about CNY 704.29 billion from the previous trading day [10] - As of January 27, the financing balance on the Shanghai Stock Exchange was CNY 1,365.541 billion, a decrease of CNY 12.58 billion from the previous trading day, while the Shenzhen Stock Exchange's financing balance was CNY 1,331.408 billion, down CNY 8.96 billion [11] - The Hong Kong stock market closed with the Hang Seng Index up 2.58% and the Hang Seng Tech Index up 2.53%, with significant gains in gold and real estate stocks [12] Company Dynamics - The wholesale price of Feitian Moutai has risen to approximately CNY 1,600 per bottle, an increase of CNY 35 from the previous day, marking a 7% rise from the recent low of CNY 1,495 [14] - ASML announced a restructuring of its technology and IT departments, potentially resulting in a net reduction of 1,700 jobs, primarily in the Netherlands and some in the United States [15] - Industrial Fulian expects a net profit attributable to shareholders of CNY 35.1 billion to CNY 35.7 billion for 2025, representing a year-on-year increase of 51% to 54% [16] - Hainan Mining is planning to acquire control of Fengrui Fluorine Industry through a combination of share issuance and cash payment, with stock trading suspended starting January 29, 2026 [17]

写在文章前的声明：在本文之前的说明：本文中所列的投资信息，只是一个对基金资产净值进行排行的客观描述，并无主观倾向性，也不是投资建议，纯属 娱乐性质。 一顿操作猛如虎，基金净值已更新，谁是基金中的王者，谁又垫底，请看数据： | 基金简称 PK | | | YEINDERS FREATHER | | | --- | --- | --- | --- | --- | | 1 | 国投瑞银白... A | 2.9694 | 9.28% | | | | 161226 | 2026-1-26 | | | | 2 | 前海开源金 ... A | 3.6140 | 8.76% | 8 | | | 001302 | 2026-1-26 | | | | 3 | 前海开源金 ... C | 3.5310 | 8.75% | | | | 002207 | 2026-1-26 | | | | 4 | 西部利得新 ... A | 2.5821 | 8.26% | | | | 673071 | 2026-1-26 | | | | 5 | 西部利得新 ... C | 2.5258 | 8.26% | 7 | | | 673073 | 2026 ...

Core Viewpoint - The A-share market experienced fluctuations with significant movements in various sectors, particularly in precious metals and biotechnology, while the commercial aerospace sector faced a sharp decline [1][12]. Group 1: A-share Market Overview - The Shanghai Composite Index closed at 4132.61 points, down 0.09%, while the Shenzhen Component and ChiNext Index fell by 0.85% and 0.91%, respectively [1]. - A total trading volume of approximately 3.28 trillion yuan was recorded, an increase of over 160 billion yuan from the previous day [1]. - Over 3700 stocks in the A-share market closed in the red, with notable declines in the commercial aerospace and semiconductor sectors [1]. Group 2: Precious Metals Sector - The precious metals sector showed strong performance, with silver and gold stocks gaining significantly. Silver Youse rose to a 5-day limit, while companies like Hunan Gold and Zhaojin Gold also hit the limit [3][4]. - Spot gold prices reached a historic high of $5100 per ounce, driven by factors such as moderate U.S. inflation data and geopolitical uncertainties [5]. - Institutional analysis indicates that the ongoing rise in gold prices is supported by increased investment demand and central bank purchases, suggesting a robust long-term outlook for gold and silver [5]. Group 3: Biotechnology Sector - The biotechnology sector saw a surge, with companies like Hualan Biological and Jindike hitting the 20% limit, and others like Zhifei Biological rising nearly 15% [7][8]. - The rise in the sector is partly attributed to the emergence of the Nipah virus in India, prompting increased demand for related testing products [9][10]. Group 4: Commercial Aerospace Sector - The commercial aerospace sector experienced a significant drop, with companies like Shaoyang Hydraulic and Haoshi Electromechanical falling by approximately 14% [12]. - China Satellite issued a risk warning, indicating that its stock price had risen significantly without fundamental changes, highlighting the risks of market speculation [12][14].

Group 1 - The animal vaccine concept sector rose by 4.89%, ranking fifth among concept sectors, with 18 stocks increasing in value, including Yongshun Biological, Dongfang Biological, and Haili Biological, which saw increases of 27.18%, 12.36%, and 7.18% respectively [1] - The animal vaccine sector attracted a net inflow of 229 million yuan from main funds, with 14 stocks receiving net inflows, and 5 stocks exceeding 30 million yuan in net inflow. The leading stock in net inflow was Biological Shares, with a net inflow of 100 million yuan [2] - The top three stocks by net inflow ratio were KQ Biological, Tiankang Biological, and Biological Shares, with net inflow ratios of 14.32%, 12.76%, and 9.87% respectively [3] Group 2 - The animal vaccine sector's inflow ranking included Biological Shares with a 4.50% increase and a turnover rate of 5.08%, followed by Dabeinong with a 2.70% increase and a turnover rate of 6.49% [4] - Other notable stocks included Jinhai Biological with a 5.95% increase and a turnover rate of 9.28%, and Tiankang Biological with a 1.99% increase and a turnover rate of 2.95% [5] - Stocks that experienced declines included Hengtong Holdings with a decrease of 2.59% and a turnover rate of 5.31%, and Luoniushan with a decrease of 1.86% and a turnover rate of 3.43% [5]

截至收盘，沪指微跌0.09%报4132.61点，深证成指跌0.85%，创业板指跌0.91%，上证50指数涨0.57%； 沪深北三市合计成交约3.28万亿元。 1月26日，沪指盘中窄幅震荡，创业板指弱势下探，一度跌超1%；A股市场超3700股飘绿。 （文章来源：证券时报网） 盘面上看，半导体、汽车、地产、军工、零售等板块走低，有色、石油、保险、农业、医药等板块拉 升，黄金概念、生物疫苗、创新药概念等活跃。 银河证券表示，短期来看，春季行情延续，后续板块轮动上涨概率较大，业绩基本面重要性提升。一方 面，1月下旬正值上市公司年报业绩预告集中披露期，关注业绩线索对结构性行情的指引，高景气赛道 与盈利改善细分板块或迎来行情修复。另一方面，美联储议息会议即将召开，市场普遍预计美联储将维 持基准利率不变，政策声明以及新闻发布会表态或阶段性影响市场风险偏好。板块轮动中关注结构性投 资机会。主线一，科技创新板块。短期来看，关注细分板块之间的轮动补涨机会。前期强势的商业航 天、AI应用等主题受到产业趋势催化，但后续内部分化或有所加大。主线二，制造业、资源板块盈利 修复路径清晰。重点关注涨价逻辑下业绩支撑的有色金属、基础化工等行业 ...

报道称，当地政府正采取措施遏制病毒传播，目前已有近百人被要求居家隔离。由于该病毒通常由蝙蝠 传染给人类，西孟加拉邦已要求该邦多个动物园对圈养的蝙蝠进行采样检测。 世卫组织公布的信息显示，自1998年以来，孟加拉国、印度、马来西亚、菲律宾和新加坡均报告过尼帕 病毒疫情。印度自2001年以来多次出现尼帕病毒疫情。2025年5月17日至7月12日期间，印度喀拉拉邦报 告了4例尼帕病毒感染病例，其中包括2例死亡病例。 生物疫苗概念26日盘中走势强劲，截至发稿，华兰疫苗、金迪克20%涨停，智飞生物涨超15%，沃森生 物、康希诺等涨超10%。 消息面上，据印度媒体报道，印度东部的西孟加拉邦近期出现尼帕病毒疫情，确诊病例已升至5例。感 染者正在该邦首府加尔各答及周边医院接受治疗，其中一名患者病情危重。 （文章来源：证券时报网） ...

Core Viewpoint - The company, Shenzhen Hepalink Pharmaceutical Group Co., Ltd., is a leading multinational pharmaceutical enterprise with a focus on the heparin industry chain, biopharmaceutical CDMO, and innovative drug development, benefiting from the depreciation of the RMB and a significant overseas revenue share [2][3]. Company Overview - Shenzhen Hepalink was established in 1998 and has dual financing platforms (A+H shares) [2]. - The main business segments include heparin sodium raw materials, low molecular weight heparin products, and CDMO services, with revenue contributions of 63.06% from formulations, 18.59% from CDMO, and 16.05% from heparin products [7]. - As of September 30, 2025, the company reported a revenue of 4.194 billion yuan, a year-on-year increase of 3.09%, while net profit decreased by 29.04% to 554 million yuan [7]. Financial Performance - The company’s overseas revenue accounted for 93.04% of total revenue, benefiting from the depreciation of the RMB [3]. - The total market capitalization is 18.048 billion yuan, with a trading volume of 87.8751 million yuan and a turnover rate of 0.57% [1]. Shareholder Information - As of September 30, 2025, the number of shareholders increased to 27,000, with an average of 0 circulating shares per person [7]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 12.0093 million shares, an increase of 691,700 shares from the previous period [9]. Technical Analysis - The average trading cost of the stock is 11.62 yuan, with the current price approaching a resistance level of 12.37 yuan, indicating potential for upward movement if the resistance is broken [6].

来源：新浪证券-红岸工作室 1月13日，海普瑞涨0.73%，成交额7838.59万元，换手率0.50%，总市值182.38亿元。 异动分析 创新药+生物疫苗+CRO概念+人民币贬值受益 1、2024年年报，海普瑞于 1998 年成立于深圳，是拥有 A+H 双融资平台的领先跨国制药企业，主要业 务覆盖肝素产业链、生物大分子 CDMO 和创新药物的投资、开发及商业化，致力于为全球患者带去高 质量的安全有效药物和服务，护佑健康。 2、赛湾生物具备向客户提供mRNA疫苗开发及生产CDMO服务的能力。赛湾生物凭借优秀的工艺开 发、准时交付以及成功的运营能力，继续推进mRNA疫苗供应链的工作，支持全球多个已商业化的 mRNA疫苗的生产。 3、深圳市海普瑞药业集团股份有限公司的主营业务是肝素产业链，生物大分子CDMO和创新药物的投 资，开发及商业化。 4、根据2024年年报，公司海外营收占比为93.04%，受益于人民币贬值。 区间今日近3日近5日近10日近20日主力净流入264.46万-158.62万-28.93万-587.36万-643.10万 主力持仓 主力没有控盘，筹码分布非常分散，主力成交额1698.58万，占总成 ...

Core Viewpoint - Junshi Biosciences aims to establish itself as a global innovative pharmaceutical company with a complete industry chain capability from drug discovery to commercialization, focusing on quality and innovation [2] Group 1: Company Overview - Junshi Biosciences was founded on December 27, 2012, and went public on July 15, 2020, specializing in the research and commercialization of monoclonal antibody drugs and other therapeutic proteins [7] - The company's main revenue sources include 90.67% from drug sales, 8.74% from technology licensing, and 0.59% from technical services [7] - As of September 30, 2023, Junshi Biosciences reported a revenue of 1.806 billion yuan, a year-on-year increase of 42.06%, while the net profit attributable to shareholders was -596 million yuan, a year-on-year increase of 35.72% [8] Group 2: Product Development and Pipeline - The company has developed a strong product pipeline, including its core product, Toripalimab, which is the first domestically approved PD-1 monoclonal antibody in China, with 11 approved indications and one supplemental NDA under review [2] - Toripalimab is also the first innovative biologic drug developed and produced in China to receive FDA approval, with approvals in multiple countries including the US, EU, and Australia [2] - Junshi Biosciences is also developing Tifcemalimab, the world's first anti-BTLA monoclonal antibody entering clinical development, with ongoing Phase III clinical trials and several Phase Ib/II studies in progress [2] Group 3: Collaborations and Innovations - On October 27, 2023, Junshi Biosciences announced collaborations with several institutions, including Peking University and the Chinese Academy of Sciences, to develop a monkeypox recombinant protein vaccine [3] - The company’s subsidiary, JunTuo Biotech, is involved in the preclinical development of vaccines for monkeypox and Zika virus [3] Group 4: Market Performance - On December 24, 2023, Junshi Biosciences' stock fell by 0.83%, with a trading volume of 277 million yuan and a market capitalization of 35.534 billion yuan [1] - The stock has experienced a net outflow of 32.026 million yuan from major investors, indicating a trend of reduced holdings over the past three days [4][5]