证券研究报告 | 浙商早知道 报告日期：2025 年 12 月 30 日 浙商早知道 2025 年 12 月 30 日 ：王禾 执业证书编号：S1230512110001 ：021-80105901 ：wanghe@stocke.com.cn 市场总览 重要推荐 【浙商电子 王凌涛/沈钱/褚旭】兴森科技（002436）公司深度：风雨扩张数十载，枕戈待旦百径开 ——20251229 重要观点 http://www.stocke.com.cn 1/4 请务必阅读正文之后的免责条款部分 大势：12 月 29 日上证指数上涨 0.04%，沪深 300 下跌 0.38%，科创 50 上涨 0.04%，中证 1000 下跌 0.15%，创业 板指下跌 0.66%，恒生指数下跌 0.71%。 行业：12 月 29 日表现最好的行业分别是石油石化（+1.48%)、国防军工（+1.43%)、银行（+1.03%)、农林牧渔（+0.71%)、 汽车（+0.41%)，表现最差的行业分别是有色金属（-1.95%)、公用事业（-1.24%)、电力设备（-1.13%)、建筑材料 （-1.11%)、食品饮料（-1.06%)。 资金：12 月 ...

Core Insights - The article discusses the transformation of China's pharmaceutical industry from "importing" to "exporting," highlighting the establishment of a dual "fast track" for international trade in innovative drugs and medical devices in the Boao Lecheng International Medical Tourism Pilot Zone [1][5]. Group 1: Event Overview - The China Innovation Drug and Medical Device Export Matching Conference was held on November 21, 2023, in Boao Lecheng, gathering nearly a hundred participants from government, industry associations, overseas hospitals, industrial parks, and pharmaceutical companies to explore new paths and opportunities for Chinese innovative drug and medical device exports [2]. - The conference featured companies like Su Sheng Biotechnology Co., which showcased advanced products such as platelet-rich plasma preparation devices and 3D-printed artificial bones, attracting interest from overseas clients [2]. Group 2: Market Dynamics - There is a growing international demand for high-quality Chinese pharmaceutical products, as indicated by the interest from neighboring countries in the medical tourism sector [3]. - The conference addressed barriers faced by domestic companies in international markets, such as unfamiliarity with policies, lack of channels, and difficulties in standard recognition, by integrating policy interpretation, resource matching, and product promotion [3]. Group 3: Strategic Importance of Lecheng - Lecheng is positioned as a key support in the transition of China's pharmaceutical industry, aiming to convert gathered international resources into development momentum for innovative pharmaceutical companies [4]. - The zone has established deep cooperative relationships with over 180 pharmaceutical companies from 20 countries and regions, including all top 30 global pharmaceutical firms [4]. Group 4: Future Outlook - The shift from a one-way "import" model to a two-way "export" model signifies Boao Lecheng's role as a bridge connecting China with the global market, fostering innovation and collaboration in the pharmaceutical sector [5].