Market Performance - The recombinant protein concept increased by 2.92%, ranking 7th among concept sectors, with 43 stocks rising, including Chengdu Xian Dao and Mai Wei Bio reaching a 20% limit up [1] - Leading gainers included Shen Zhou Cell, Hai Te Bio, and Ke Xing Pharmaceutical, with increases of 15.40%, 11.93%, and 10.14% respectively [1] - Decliners included ST Wei Ming, *ST Su Wu, and Lizu Group, with decreases of 5.01%, 4.81%, and 0.49% respectively [1] Capital Flow - The recombinant protein sector saw a net inflow of 188 million yuan, with 17 stocks receiving net inflows, and 5 stocks exceeding 30 million yuan in net inflow [1] - Shen Zhou Cell led with a net inflow of 217 million yuan, followed by Chengdu Xian Dao, Mai Wei Bio, and Hui Yu Pharmaceutical with net inflows of 126 million yuan, 96.87 million yuan, and 45.41 million yuan respectively [1] Capital Inflow Ratios - Leading stocks in capital inflow ratios included Shen Zhou Cell, Chengdu Xian Dao, and Cheng Da Bio, with net inflow ratios of 16.25%, 12.33%, and 10.79% respectively [2] - The top stocks in the recombinant protein concept based on capital flow included Shen Zhou Cell, Chengdu Xian Dao, and Mai Wei Bio, with respective daily turnover rates of 3.70%, 12.33%, and 17.80% [2]

Group 1 - The recombinant protein concept sector rose by 2.85%, ranking fifth among concept sectors, with 46 stocks increasing in value [1] - Notable gainers included Shenzhou Cell and Weiming Pharmaceutical, both reaching the daily limit, while Saiseng Pharmaceutical, Hotgen Biotech, and Huiyu Pharmaceutical also saw significant increases of 10.45%, 10.38%, and 8.43% respectively [1] - The sector experienced a net inflow of 568 million yuan, with 30 stocks receiving net inflows, and five stocks attracting over 30 million yuan each [2] Group 2 - Leading the net inflow was Weiming Pharmaceutical, which saw a net inflow of 89.46 million yuan, followed by Kexing Pharmaceutical, Yipin Hong, and Huiyu Pharmaceutical with net inflows of 74.06 million yuan, 71.16 million yuan, and 60.03 million yuan respectively [2][3] - The net inflow ratios for Weiming Pharmaceutical, Kexing Pharmaceutical, and Huiyu Pharmaceutical were 24.18%, 13.33%, and 12.60% respectively [3] - The overall performance of the recombinant protein sector was supported by strong trading activity, with several stocks showing high turnover rates [3][4]

Group 1 - The concept of China-South Korea Free Trade Zone has seen a rise of 2.30%, ranking second among concept sectors, with 8 stocks increasing in value, including Lianyungang which hit the daily limit, and Huaguang Yuanhai, Qingdao Jinwang, and Rizhao Port showing notable gains of 26.88%, 3.41%, and 1.87% respectively [1][2] - The main inflow of funds into the China-South Korea Free Trade Zone concept sector amounted to 147 million yuan, with Lianyungang leading the net inflow at 180 million yuan, followed by Qingdao Jinwang, Qingdao Shuangxing, and Langzi Co., which received net inflows of 68.51 million yuan, 15.67 million yuan, and 14.28 million yuan respectively [2][3] - In terms of fund inflow ratios, Lianyungang, Chunxue Food, and Liaogang Co. had the highest net inflow rates of 11.08%, 5.63%, and 3.36% respectively [3] Group 2 - The stocks with the largest declines included Xinhua Jin, Haicheng Bangda, and Haodangjia, which fell by 9.34%, 3.27%, and 0.85% respectively [1][4] - The trading volume and turnover rates for the stocks in the China-South Korea Free Trade Zone concept varied, with Lianyungang showing a turnover rate of 18.09% and Qingdao Jinwang at 35.94% [3]

Market Overview - On May 27, A-shares experienced a collective adjustment, with the Shanghai Composite Index down 0.18% to 3340.69 points, the Shenzhen Component Index down 0.61% to 10029.11 points, and the ChiNext Index down 0.68% to 1991.64 points [1] Sector Performance - The best-performing sectors included recombinant proteins, glycyrrhizin, and weight loss drugs, while sectors such as Chiplet concept, AI chips, and gold concepts saw declines [1] - Specific net inflows and performance for sectors included: - Recombinant proteins: net inflow of 150 million with a rise of 4.79% - Chiplet concept: net outflow of 770 million with a decline of 2.93% - AI chips: net outflow of 1.124 billion with a decline of 2.25% [2] Fund Manager Changes - In the past 30 days (April 27 to May 27), 473 fund managers changed positions, with 10 announcements made on May 27 alone. Five of these changes were due to job transitions [3] - Notable fund managers include: - Tong Li from Huashang Fund, managing assets of 9.313 billion, with a top-performing fund returning 142.98% over nearly three years [3] - Ai Chong from CITIC Construction Investment Fund, managing assets of 145 million, with a top-performing fund returning 53.51% over just over a year [3] Fund Research Activity - In the last month, the most active fund in terms of company research was Bosera Fund, which conducted 107 company surveys, followed by Huaxia Fund with 95 and Harvest Fund with 91 [5] - The most researched industry was specialized equipment, with 525 surveys, followed by medical devices with 415 [5] Individual Stock Focus - The most researched stock in the past month was Zhaowei Electromechanical, with 88 fund management companies participating in the survey, followed by Anji Technology and Weir Shares with 82 and 73, respectively [5][6] - In the last week (May 20 to May 27), the most researched company was Anjisi, with 32 fund institutions conducting surveys [6]

Core Viewpoint - The stock price of Giant Bio (HK02367) experienced a significant decline following allegations of product fraud related to its brand, Kefu Mei, which led to a public statement denying the accusations and asserting compliance with regulatory standards [9][10]. Group 1: Company Performance - As of May 26, Giant Bio's stock opened with a drop exceeding 8%, later narrowing to a decline of 3.52% [1]. - The company's market capitalization is approximately 80 billion HKD [11]. - Kefu Mei, a brand under Giant Bio, reported sales revenue exceeding 4.5 billion CNY in 2024, reflecting a year-on-year growth of 62.9% [10]. Group 2: Industry Context - The A-share market saw a collective decline in stocks related to recombinant protein, with notable drops in companies such as Ruizhi Pharmaceutical and Sanofi Guojian, each falling nearly 6% [2]. - The market reaction indicates a broader concern regarding the credibility of companies in the recombinant protein sector following the allegations against Giant Bio [2].

Market Performance - On May 22, the three major A-share indices collectively adjusted, with the Shanghai Composite Index falling by 0.22% to 3380.19 points, the Shenzhen Component Index dropping by 0.72% to 10219.62 points, and the ChiNext Index decreasing by 0.96% to 2045.57 points [1] Fund Manager Changes - In the past 30 days (April 22 to May 22), a total of 480 fund products experienced changes in fund managers, with 22 fund products announcing manager departures on May 22 alone [3] - The reasons for the changes included two managers leaving due to job changes, one due to personal reasons, and one due to product expiration [3] Fund Manager Performance - The current total asset scale of the fund manager Lou Huafeng from Industrial Bank is 2.079 billion yuan, with the highest return product being Silver River Quantitative Preferred Mixed A, which achieved an 88.18% return over 4 years and 42 days [4] - New fund manager Yan Peixian from China Europe Fund has a total asset scale of 12.365 billion yuan, with the highest return product being China Plus Pure Bond One Year A, which achieved an 87.82% return over 10 years and 49 days [5] Fund Research Activity - In the past month (April 22 to May 22), Bosera Fund conducted the most company research, engaging with 145 listed companies, followed by Jiashi Fund, Huaxia Fund, and Fortune Fund, which researched 133, 132, and 125 companies respectively [6] - The most researched industry was specialized equipment, with 658 instances, followed by medical devices with 637 instances [6] Recent Company Focus - In the last week (May 15 to May 22), the company receiving the most attention from funds was Bozhong Precision Engineering, with 48 fund institutions conducting research [8] - Other companies with significant research interest included Huagong Technology, Keli Co., and Huadong Pharmaceutical, receiving 37, 35, and 30 fund institution inquiries respectively [8]

Group 1 - The recombinant protein concept sector rose by 2.52%, ranking second among concept sectors, with 30 stocks increasing in value [1][2] - Notable gainers included Sangon Biotech, which hit the daily limit with a 20% increase, and other significant performers such as Sai Sheng Pharmaceutical, Jie Ya Co., and Jinbo Bio, which rose by 16.37%, 9.31%, and 9.17% respectively [1][2] - The sector experienced a net inflow of 221 million yuan from main funds, with 23 stocks receiving net inflows, and 8 stocks exceeding 10 million yuan in net inflow [2][3] Group 2 - Leading the net inflow was Xilong Scientific, which saw a net inflow of 242 million yuan, followed by Rejuve Pharmaceutical and Zexin Pharmaceutical with net inflows of 37.78 million yuan and 32.48 million yuan respectively [2][3] - The top three stocks by net inflow ratio were Xilong Scientific at 20.85%, Zexin Pharmaceutical at 8.53%, and Chengdu Xian Dao at 7.96% [3][4] - Stocks with notable declines included Furuida, Zhongyuan Xiehe, and Wanmei Biological, which fell by 2.25%, 1.92%, and 1.80% respectively [1][5]

Industry Overview - The recombinant protein sector has shown active performance, with a nearly 4% increase in the market as of May 20, highlighted by stocks such as Yipinhong (300723) and Weiming Pharmaceutical (002581) reaching their daily limit [1] - Recombinant proteins are produced using recombinant DNA or RNA technology, allowing host cells to express proteins that are either identical to or modified versions of natural proteins, enhancing properties like solubility or yield [1] - Key applications of recombinant proteins include biopharmaceuticals, cell immunotherapy, and diagnostic reagent development, playing a crucial role in vaccine production, monoclonal antibodies, and innovative drugs for cancer treatment, autoimmune diseases, and rare diseases [1] Market Growth - The global recombinant protein market grew from $7 billion in 2015 to $10.8 billion in 2020, with a compound annual growth rate (CAGR) of 9.0%, and is projected to reach $20.8 billion by 2025, with a CAGR of approximately 14.1% from 2020 to 2025 [2] - Historically, the global recombinant protein market has been dominated by international brands, but domestic companies are increasingly investing in R&D to enhance their technology and product quality, leading to a significant trend of import substitution [2] Company Highlights - Yipinhong has established a recombinant protein R&D and pilot production facility, enabling capabilities in biopharmaceutical development [3] - Weiming Pharmaceutical's subsidiary, Shandong Yandu, has developed a high-expression recombinant protein platform, creating multiple biopharmaceutical R&D systems [3] - Sangfor Biopharma focuses on innovative therapeutic antibody drugs, specializing in monoclonal antibodies, bispecific antibodies, and multifunctional recombinant proteins [3] - Kexing Pharmaceutical is a leading company in China's recombinant protein drug sector, with a comprehensive biopharmaceutical R&D innovation system [4] - Furuida has been deeply involved in the recombinant collagen field, utilizing synthetic biology techniques to select high-bioactive segments from human type III collagen [4] - Saiseng Pharmaceutical has formed a technical system centered on proteomics, antibody platforms, drug R&D, and fine recombinant protein production [4] - Jieya Co., Ltd. has partnered with Chuangjian Medical to establish Anhui Jiechuang Medical Equipment Co., Ltd., focusing on recombinant collagen protein business [4] - Shenzhou Cell has developed a high-efficiency, high-throughput technology platform covering the entire biopharmaceutical R&D and production chain, with a diverse pipeline of monoclonal antibodies, recombinant proteins, and vaccines [4]