从股票走势来看，新里程近一年上涨 24.02%。 来源：金融界 资料显示，新里程健康科技集团股份有限公司的主营业务是医疗服务及医药工业。公司的主要产品是药 品及医疗产品、医疗服务。公司专注于药品生产二十余载，形成了以"独一味"品牌为核心的系列中成 药，其中"独一味胶囊"收载于《中国药典》（2020年版），为2018年版国家基药、全国独家品种、中成 药优质优价产品、国家医保目录品种，具有独特疗效、安全性高、治疗成本低的优势。"独一味"商标为 中国驰名商标。公司董事长为许铭桂。 金融界消息，根据中登公司数据显示，截至上周最后一个交易日（8月1日），新里程股东质押比例占总 股本14.36%，位居两市第631位。 数据显示，新里程股东共质押4.87亿股，分为13笔，其中无限售股4.87亿股，质押总市值10.80亿元。 ...

Core Viewpoint - China Resources Medical (01515) anticipates a decline in profit attributable to shareholders for the six months ending June 30, 2025, by approximately 20% to 25% compared to the same period in 2024, with a more significant drop of about 55% to 60% when excluding one-time management fees and compensation related to the Yanhua IOT agreement totaling approximately RMB 210 million [1] Financial Performance - The expected profit decline is primarily due to a decrease in average medical expenses under the healthcare insurance system, leading to reduced operating profits for member medical institutions [1] - The company is gradually exiting the IOT (Investment-Operation-Transfer) business, resulting in a corresponding decrease in profit contribution from this segment [1] Future Outlook - In the second half of 2025, the company plans to actively improve its revenue structure, promote refined management, control operating costs, and enhance operational efficiency [1]

Core Viewpoint - The major shareholder, Wukuang Jintong Equity Investment Fund Management Co., Ltd., and its concerted action party plan to reduce their holdings in New Mile Health Technology Group Co., Ltd. by up to 67,747,635 shares, representing 2% of the total share capital, within a three-month period starting from May 23, 2025 [1] Group 1: Shareholding Changes - Wukuang Jintong and its concerted action party reduced their holdings by 22,387,200 shares from July 14 to July 31, 2025, which is 0.6609% of the total share capital [2] - After the reduction, Wukuang Jintong holds 174,862,123 shares and Shenzhen Tongzhikang holds 62,250,677 shares, totaling 237,112,800 shares, which is 6.9999% of the total share capital [2] - The total shares held by Wukuang Jintong decreased from 259,500,000 shares (7.6608%) to 237,112,800 shares (6.9999%) [2] Group 2: Compliance and Legal Matters - The shareholding change does not violate any laws, regulations, or rules related to securities and corporate governance [3] - There are no shares that are restricted from voting rights according to the Securities Law [3]

Group 1 - The safety assessment work for damaged houses in Beijing has commenced, focusing on the stability of the main structure, wall cracks, and foundation settlement [2] - Relevant departments will implement control management for dangerous buildings based on assessment results and develop disposal plans [2] Group 2 - Insurance claims processes have been initiated, with Beijing's financial regulatory department activating an emergency mechanism for water-damaged vehicles, including streamlined procedures [4] - As of August 3, 17:00, Beijing insurance institutions have received 5,330 claims related to the recent heavy rainfall, with estimated losses nearing 155 million yuan, and 2,100 claims have been paid [4] Group 3 - Hebei is continuing efforts to relocate and settle affected residents, with medical personnel providing services and medications at designated shelters [6] - A blue rainstorm warning has been issued in Beijing, with expectations of continued heavy rainfall from August 4 to 5, prompting enhanced monitoring and control measures [6] - A yellow warning for mountain flood disasters has been issued in Hebei, urging close attention to rainfall conditions [6]

Investment Rating - The report maintains a "Buy" rating for the medical services industry [5][9][73] Core Views - The medical services sector is experiencing a positive trend, with a 2.68% increase in the sub-sector index, indicating a stable recovery despite ongoing pressures from medical insurance cost control [11][22][73] - The introduction of new pricing mechanisms by the National Medical Insurance Administration supports the clinical application of innovative technologies such as brain-computer interfaces, which are expected to enhance patient care and recovery [4][63][72] Summary by Sections Industry Performance - The pharmaceutical and biological sector rose by 2.95%, outperforming the CSI 300 index by 4.70 percentage points [11][22] - The medical services sub-sector index closed at 6473.29 points, reflecting a 2.68% increase [22][31] Company Performance - Top-performing companies in the medical services sector include Baicheng Pharmaceutical (+23.5%), Ruizhi Pharmaceutical (+15.7%), and Tigermed (+8.1%) [2][28] - Underperforming companies include Haoyuan Pharmaceutical (-6.5%) and Meidi West (-4.9%) [2][28] Valuation Metrics - The current Price-to-Earnings (PE) ratio for the medical services sector is 38.50X, with a Price-to-Book (PB) ratio of 3.61X [3][31] - The PE ratio has increased by 1.02X from the previous week, while the PB ratio has risen by 0.14X [3][31] Industry Dynamics - The National Medical Insurance Administration has introduced over 100 new pricing items related to innovative medical technologies, facilitating faster clinical application and reimbursement [4][63] - The 2025 version of the Chikungunya fever treatment plan has been released, reflecting ongoing efforts to standardize clinical practices [4][65] Investment Recommendations - The report suggests focusing on high-growth areas such as ADC CDMO and weight-loss drug supply chains, as well as companies with improving profit margins in third-party testing laboratories and consumer healthcare sectors [9][73]

Core Viewpoint - Far East Horizon's 1H25 performance met expectations with a revenue decline of 4% year-on-year to 17.34 billion yuan and a net profit increase of 4% year-on-year to 2.16 billion yuan, resulting in an annualized ROE increase of 17 percentage points to 8.66% [1] Financial Performance - The company's financial business revenue increased by 2% year-on-year to 11.09 billion yuan, accounting for 64% of total revenue, with interest income slightly down by 0.4% to 10.66 billion yuan and consulting fee income up by 167% to 430 million yuan [1] - The net interest margin expanded with net interest spread and net interest margin increasing by 11 basis points and 4 basis points to 4.06% and 4.51% respectively, while asset quality remained stable with a non-performing loan ratio of 1.05% [1] Dividend Policy - The company increased its interim dividend payout ratio by 4 percentage points year-on-year to 50%, maintaining a dividend per share (DPS) of 0.25 HKD, indicating a strong dividend yield despite slower growth in DPS compared to profit growth due to dilution from convertible bonds [1] Industry Operations - The company's industrial operations revenue decreased by 13% year-on-year to 6.33 billion yuan, with a decline in domestic business offset by rapid growth in overseas operations [1] - The healthcare segment saw a revenue decline of 15% year-on-year to 1.8 billion yuan, with net profit down by 28% to 110 million yuan, as the company focused on optimizing cost efficiency and expanding non-insurance business [1] Valuation and Forecast - The company maintains its earnings forecast for 25/26e, currently trading at 0.67x/0.63x P/B for 25/26e, with a target price adjustment of 10% to 8.8 HKD, reflecting a significant discount in valuation and attractive dividend expectations [2]

你有没有发现，美联储这次死扛着不降息，哪怕非农数据一而再、再而三被质疑造假，也还是硬撑到了七月？明明市场一再预期转向，可他们就像踩了刹车 死死不动，生怕一个松劲，中国这边就顺了口气。 非农数据本来就是就业市场的风向标，关乎货币政策、股市走向、大宗商品走势。结果它自己现在都成了假把式。这下好了，黄金应声上涨，原油直接跳 水。纳斯达克、标普500当天收盘全线下跌，跌幅都超过1%。欧洲三大股指也没能独善其身，法股CAC40和德股DAX指数分别下跌1.6%和1.2%。 这一连串的反馈太整齐了，市场不是傻子。大家终于意识到，这不是经济真的韧性十足，是数据被涂了粉。问题是，美联储明知道数据有水分，为什么还要 假装看不见？我问了三个朋友，他们的共识是：为了拖住中国。 你看人民币汇率、港股和大A的这半年走势，几乎可以画出一个反比曲线。每当美联储释放降息预期，大A就要鼓一口气。但一旦非农一强，降息一悬，大 A立刻又蔫了。这种动态博弈的意味太明显了。 我也纳闷，非农数据已经连续几个月出现公布值强劲、修正值崩塌的尴尬局面了，6月公布的5月新增就业27.2万人，结果背后修正4月和3月数据一共少了11 万人。这不是一次两次的小误差了， ...

"印度是我的一部分，无论走到哪里，我都带着它"，来自南印度泰米尔纳德邦的桑达尔·皮查伊曾动情地说。53岁的皮查 伊出身于工薪家庭，在他12岁那年，身为电气工程师的父亲在家中安装了第一部固定电话。这台旋转拨号电话机激发了 他对技术的热爱，激励他后来考入印度理工学院（IIT）。 大学毕业后，父亲用一年的积蓄，为皮查伊买下飞往美国的机票。这个在斯坦福大学攻读硕士学位的青年，如今已是科 技精英。2015年，皮查伊成为谷歌公司首席执行官（CEO），现任谷歌母公司"字母表"公司（Alphabet）CEO。 像皮查伊这样的顶尖印度人才很多选择留在海外，他的IIT校友中就至少有2万人在美国打拼。印度最需要的科技精英大 部分没能留在国内，这显然不利于"2047年发达印度"这一宏大目标的实现。 这些年来，莫迪政府为吸引人才回流制定了多项"引凤还巢"计划，虽取得了一定成效，但并未从根本上扭转人才外流的 趋势。而当下，美国重启特殊专业人员/临时工作签证（H-1B签证）限制，并出台学术干预政策，搅动了全球人才流动漩 涡，印度的"引凤还巢"计划或将迎来收获季。 顶尖的印度裔人才 从硅谷的科技丛林到巴黎的时尚殿堂，印度裔精英的身影无处不在 ...

Group 1 - Recent regulations have been implemented across multiple hospitals in various provinces to strictly manage the entry of pharmaceutical representatives [1][2] - The measures include requiring pharmaceutical representatives to register and make appointments before entering hospitals, with specific time slots designated for meetings [1][2] - Hospitals are utilizing technology such as artificial intelligence and video monitoring to prevent unauthorized access by pharmaceutical sales personnel [2] Group 2 - The Copperling City Hospital has initiated a campaign to combat corruption, focusing on issues like "red envelopes" and kickbacks that affect patient care [2] - Two former leaders of the Copperling City Hospital have been investigated for serious violations of discipline and law, highlighting ongoing efforts to enforce accountability within the healthcare sector [3] - The National Market Supervision Administration has issued guidelines to prevent commercial bribery in the pharmaceutical industry, emphasizing the prohibition of sales tasks assigned to pharmaceutical representatives [3]

齐鲁晚报.齐鲁壹点陈甜田通讯员马珍珍张光学 2025年5月22日，滨州医学院附属医院召开9S精益管理启动大会。9S精益管理即整理、整顿、清扫、清洁、素养、安全、节约、服务、 满意，将企业成熟管理理念深度融入医疗服务场景，这既是顺应国家政策要求的必然之举，也是满足患者多元需求、提升医院核心竞争 力的关键抓手。 会上，滨医附院党委书记王东强调，开展"9S"精益管理工作是医院在高质量发展征程上的关键举措，他要求，全院上下要统一思想、明 确目标，通过加强组织领导、强化宣传培训、注重细节管理、加强协同配合及严格督导考核五项举措，切实把"9S"精益管理工作做细做 实，推动医疗服务质量、患者满意度与运营效能同步提升，为医院高质量发展注入持续动力。 秦承伟介绍，部分区域因长期积累，堆放了大量利用率低的物资，医护人员虽明知其"用处不大"，却因担心"未来需用时申领麻烦"而迟 迟不愿处理，导致空间被挤占、管理成本增加。为打破这一僵局，从实际需求出发，对有使用价值的物资，主动协调至有紧急需求的科 室或部门，实现跨区域资源流转，让闲置物资"物尽其用"；对确无保留必要的物品，则集中归集、统一存放，待后续研究制定规范处置 方案，稳步推进" ...