1月5日，万泰生物盘中上涨2.00%，截至10:34，报45.84元/股，成交7019.30万元，换手率0.12%，总市 值579.60亿元。 资金流向方面，主力资金净流入267.99万元，特大单买入102.83万元，占比1.46%，卖出0.00元，占比 0.00%；大单买入1446.72万元，占比20.61%，卖出1281.56万元，占比18.26%。 万泰生物今年以来股价涨2.00%，近5个交易日跌2.11%，近20日跌1.46%，近60日跌21.12%。 万泰生物所属申万行业为：医药生物-生物制品-疫苗。所属概念板块包括：猴痘概念、疫苗、抗原检 测、幽门螺杆概念、体外诊断等。 截至9月30日，万泰生物股东户数4.20万，较上期增加9.41%；人均流通股30124股，较上期减少8.60%。 2025年1月-9月，万泰生物实现营业收入14.98亿元，同比减少23.09%；归母净利润-1.73亿元，同比减少 165.04%。 分红方面，万泰生物A股上市后累计派现15.41亿元。近三年，累计派现13.11亿元。 机构持仓方面，截止2025年9月30日，万泰生物十大流通股东中，香港中央结算有限公司位居第五大流 通 ...

证券代码：600161 证券简称：天坛生物 公告编号：2025-058 北京天坛生物制品股份有限公司 董事离任公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 北京天坛生物制品股份有限公司（以下简称"公司"）董事会于近日收到公司董事张洁明先生递交的书面 辞职报告。现将有关情况公告如下： 一、提前离任的基本情况 ■ 二、离任对公司的影响 根据《中华人民共和国公司法》和《公司章程》等相关规定，张洁明先生的辞职报告自送达公司董事会 之日起生效，张洁明先生的辞职未导致公司董事会成员低于法定人数，不会影响公司董事会正常运作和 公司正常经营。截至本公告披露日，张洁明先生未持有公司股份，不存在应当履行而未履行的公开承诺 事项。公司及董事会对张洁明先生任职期间为公司发展做出的贡献表示衷心感谢！ 公司已于2025年12月31日召开第九届董事会第二十八次会议，审议通过《关于增补董事的议案》，同意 提名梁红军先生为公司第九届董事会董事，任期至第九届董事会换届。本事项尚需提交将于2026年1月 16日召开的公司2026年第一次临时股东会审议。详见 ...

Group 1 - The company has established a fair and reasonable pricing policy for its related party transactions, adhering to legal regulations and internal management systems [2] - The related party transactions are executed based on principles of fairness, justice, and equity, ensuring no harm to the company or its shareholders [3] - Previous related party transactions have been executed smoothly without any defaults, indicating the capability of the involved parties to fulfill their obligations [1] Group 2 - The company will hold its first extraordinary general meeting of shareholders in 2026 on January 16, with both on-site and online voting options available [6][7] - The meeting will take place at a specified location in Beijing, and shareholders must register in advance to attend [14] - Specific voting procedures are outlined for shareholders, including the use of the Shanghai Stock Exchange's online voting system [8][9]

登录新浪财经APP 搜索【信披】查看更多考评等级 根据中国证监会《证券发行上市保荐业务管理办法》、《上海证券交易所上市公司自律监管指引第11号 ——持续督导》等有关法律法规的要求，申万宏源证券承销保荐有限责任公司（以下简称"申万宏源承 销保荐"或"保荐人"）作为润本生物技术股份有限公司（以下简称"润本股份"或"公司"）首次公开发行 股票并上市及持续督导的保荐人，于2025年12月26日至12月29日对润本股份2025年度有关情况进行了现 场检查。 一、本次现场检查的基本情况 申万宏源承销保荐针对润本股份实际情况制订了2025年度现场检查工作计划。为顺利实施本次现场工 作，提高现场工作效率，切实履行持续督导工作，保荐人以邮件方式将现场检查事宜通知润本股份，并 要求公司提前准备现场检查工作所需的相关文件和资料。2025年12月26日至12月29日，申万宏源承销保 荐保荐代表人根据事先制订的现场检查工作计划，采取与公司董事、高级管理人员及有关人员进行沟通 和询问、查看公司生产经营场所、查阅公司原始凭证及其他相关资料等形式，对包括公司治理和内部控 制情况、三会运作情况、信息披露情况、独立性以及与控股股东、实际控制人及 ...

《瑞博生物通过港交所 IPO 聆讯，上 市在即—行业周报》-2025.12.28 《推荐 CXO+科研服务板块的估值切 换机会—行业周报》-2025.12.21 《2025 国谈结果公布，关注相关公司 投资机会—行业周报》-2025.12.14 医药生物 医药生物 2026 年 01 月 04 日 投资评级：看好（维持） 行业走势图 数据来源：聚源 -10% 0% 10% 19% 29% 38% 2025-01 2025-05 2025-09 医药生物 沪深300 创新驱动下，2025 年医药各细分赛道牛股频出 ——行业周报 相关研究报告 | 余汝意（分析师） | 聂媛媛（联系人） | | --- | --- | | yuruyi@kysec.cn | nieyuanyuan@kysec.cn | | 证书编号：S0790523070002 | 证书编号：S0790124050002 | nieyuanyuan@kysec.cn 证书编号：S0790124050002 创新驱动下，2025 年医药各细分赛道牛股频出 回顾 2025 年医药细分赛道表现情况看，各个板块均涌现了多个翻倍以上的牛股。 其中，整体表现 ...

截至2025年12月26日收盘，奥浦迈（688293）报收于52.32元，较上周的52.66元下跌0.65%。本周，奥 浦迈12月22日盘中最高价报53.2元。12月25日盘中最低价报51.2元。奥浦迈当前最新总市值55.77亿元， 在生物制品板块市值排名40/51，在两市A股市值排名3086/5181。 本周关注点 公司公告汇总 公司拟向PharmaLegacy Hong Kong Limited等31名股东发行约14,500,000股股份用于购买资产，并在12个 月内分期发行不超过7,249,516股股份。同时，计划向不超过35名特定投资者发行股份募集配套资金不超 过362,049,857元，导致总股本将相应增加。 业绩披露要点机构调研要点 公司于2026年1月1日发布报告书修订说明，更新了本次交易已履行的决策程序及上市公司注册资本信 息，删除原有关于募集配套资金需经上交所审核和证监会注册的表述，因已取得证监会同意注册批复。 交易信息汇总 奥浦迈拟以发行股份及支付现金方式收购澎立生物医药技术（上海）股份有限公司100.00%股权，交易 价格为145,050.07万元，其中股份支付74,048.70万元，现 ...

Core Viewpoint - The article discusses the performance of stocks categorized as "猛兽股" (beast stocks), focusing on those with a price increase of over 4 times within a year, and highlights the emergence of two distinct trading patterns: the traditional trend model and the volume accumulation model [1][2]. Group 1: Stock Selection Criteria - The selection formula for identifying beast stocks is based on a specific calculation involving the highest high and lowest low over a defined period [1]. - A total of 99 stocks were identified in the market, with 40 stocks filtered through an earnings pre-selection pool, although the specific list is not provided [2]. Group 2: Market Trends and Patterns - The current bull market has seen a significant increase in the volume accumulation model, with a ratio of approximately 6:4 compared to the traditional model [2]. - The volume accumulation model results in steeper price increase slopes and shorter time frames for achieving similar gains, with some stocks completing significant price movements in just days or weeks [2]. - The rise of quantitative trading is closely linked to the volume accumulation model, which emphasizes high-frequency trading and rapid turnover, previously dominated by speculative funds [2]. Group 3: Differences Between Trading Models - The traditional trend model is closely tied to earnings growth, while the volume accumulation model shows little correlation with earnings performance [2][5]. - Stocks selected under the traditional model are fundamentally different from those in the volume accumulation model, reflecting divergent views on the importance of fundamentals versus short-term market sentiment [4][5]. Group 4: Commonalities and Market Implications - Both trading models exhibit a common principle of minimal drawdowns during trends, with only a small fraction of the selected stocks experiencing significant pullbacks [5]. - The average drawdown for potential bull stocks in 2025 is lower than in previous years, theoretically making it easier to hold positions [5]. - The emergence of the volume accumulation model presents both challenges and opportunities for investors, suggesting a need for diversification in investment strategies [5].

Summary of Key Points from the Conference Call Industry Overview - The focus is on the non-pharmaceutical sector within the healthcare industry for the investment strategy in 2026, emphasizing overseas expansion and innovation as key growth drivers [2][12]. Key Companies and Sectors Insulin Sector - Core companies include Ganli Pharmaceutical, Federal Pharmaceutical, and Tonghua Dongbao, with Ganli's insulin products expected to receive European regulatory approval in 2026 [1][4]. - Ganli is expanding into European, American, and Asian markets, while Tonghua Dongbao is advancing its U.S. market strategy through Jiangyang [1][4]. Biopharmaceuticals - Blood products companies like Jinbao and Renbai are anticipated to see performance inflection points in the second half of 2026, with a focus on plasma station planning and state-owned enterprise reform opportunities [5]. - Vaccine companies such as Olin Bio, Kanghua Bio, and CanSino are highlighted, with Olin focusing on superbug vaccines and Kanghua developing RSV vaccines [5]. Traditional Chinese Medicine (TCM) - Investment opportunities in TCM include transformation and innovation (companies like Jiuzhitang, Yiling Pharmaceutical), essential drug catalog considerations, and OTC (over-the-counter) products [6][8]. - Key strategies involve dividend safety margins, valuation speculation post-policy implementation, and monitoring performance impacts from policy changes [8]. Medical Devices - The medical device sector is seeing significant overseas revenue contributions, with companies like Blueway, Mindray, and Kaili reporting 45%-60% of their income from international markets [9]. - Innovations in surgical robotics and brain-computer interfaces are critical areas of focus, with the latter having established a commercial closed loop [9]. Market Dynamics and Trends - The non-pharmaceutical sector is expected to benefit from changes in consumer behavior, particularly in internet healthcare, which has shown substantial growth potential compared to traditional retail [10][11]. - The shift in consumption patterns is creating new incremental opportunities across various segments, including pharmacies, medical services, and consumer healthcare [11]. Investment Strategy - The overarching strategy for 2026 emphasizes overseas expansion and innovation across insulin, medical devices, and TCM to achieve dual enhancements in valuation and performance [2][12]. - Investors are advised to closely monitor policy developments and market changes to identify quality investment opportunities in these sub-sectors [7][12].

Macro Dynamics - The Ministry of Commerce announced safeguard measures for imported beef, stating that an investigation was initiated on December 27, 2024, due to domestic industry requests. The measures include country-specific quotas and additional tariffs for three years, with annual quota increases to support the domestic industry [2] Financial Institutions - Major state-owned banks, including ICBC, ABC, CCB, BOC, and Postal Savings Bank, announced that starting January 1, 2026, interest will be paid on the balances of real-name digital RMB wallets at the same rate as current deposits. The announcement emphasizes the distinction between real-name and anonymous wallets, with specific interest rules applying only to real-name wallets [9] Market Data - The A-share market closed on December 31, 2025, with the Shanghai Composite Index rising 0.09% for a total annual increase of 18.41%, marking a ten-year high. The Shenzhen Component Index increased by 29.87% over the year, while the ChiNext Index saw a significant rise of 49.57% [11] - The Hong Kong stock market also reported strong performance, with the Hang Seng Index increasing by 27.77% for the year, the best annual performance since 2017. The Hang Seng Tech Index rose by 23.45%, marking its best annual performance since 2020 [12] Company Dynamics - The first domestically produced quadrivalent HPV vaccine has been launched, developed by China National Pharmaceutical Group. The vaccine covers four HPV types and has shown 100% efficacy in preventing certain precancerous lesions in clinical trials, providing a cost-effective option for women aged 18 to 45 [14] - Tianqi Materials announced an expected net profit increase of 127.31% to 230.63% for 2025, driven by rising demand in the new energy vehicle and energy storage markets, along with improved production efficiency [15] - Platinum Technology is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws, but the company stated that its operations remain normal [16] - Changan Ford announced a recall of 38,473 units of the Ford Focus due to compliance with regulations regarding defective automotive products [17]

Core Viewpoint - The article discusses the legal actions taken against Ningke Biological (600165) for false statements in its financial reporting, highlighting the ongoing investor compensation efforts and the company's regulatory violations. Group 1: Legal Actions and Compensation - The Shanghai Jiucheng Law Firm, represented by lawyer Xu Feng, has submitted a new case for investor compensation related to Ningke Biological's false statements, with some investors already receiving compensation [1][5] - The law firm continues to accept claims from other investors affected by the company's actions [1][5] Group 2: Regulatory Violations - Ningke Biological's 2022 annual report contained false records, inflating revenue by 76.5941 million yuan and profit by 77.222 million yuan, which accounted for 11.25% and 46.59% of the total revenue and profit, respectively [5] - The company failed to timely disclose significant events, including major debts and the freezing of key bank accounts [2][6] - Additionally, the company did not disclose that a subsidiary's main business had come to a halt [3][5]