新华财经北京1月22日电科创50指数1月22日早间高开，随后指数震荡下挫，午后指数持续整理，最终小 幅收涨。至收盘时，科创50指数报1541.64点，涨幅0.41%，指数振幅为2.91%，总成交额约1145亿元。 1月22日，科创综指全日收涨0.14%，收于1865.34点，总成交额约3103亿元。 个股表现方面，腾景科技、明微电子、青云科技、固德威等涨停，涨幅靠前；艾迪药业跌13.48%，跌 幅居首。 从盘面来看，科创板600只个股涨少跌多，高价股、低价股均表现分化。细分领域来看，元器件股、环 境保护股表现强势，生物制药股、专用机械股跌幅靠前，半导体股表现分化。 经新华财经统计，1月22日，科创板600只个股平均涨幅0.25%，平均换手率3.49%，合计成交额3103亿 元，平均振幅为4.57%。 换手率方面，胜科纳米换手率为23.65%，位居首位；三一重能换手率为0.26%，位居末位。 （文章来源：新华财经） 成交额方面，澜起科技成交额194.6亿元，位居首位；ST帕瓦成交额995.4万元，位居末位。 ...

天治新消费混合（350008）成立日期2011年8月4日，最新规模1907万。今年以来收益11.21%，同类排 名1043/8843；近一年收益8.1%，同类排名6662/8096；成立以来亏损14.07%。 天治新消费混合（350008）基金经理为梁莉。 截至发稿，梁莉累计任职时间4年284天，现任基金资产总规模8816.05万元，任职期间最佳基金回报 35.05%， 任职期间最差基金回报-61.37%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 资料显示，益方生物科技(上海)股份有限公司位于中国(上海)自由贸易试验区李冰路67弄4号210室,香港 湾仔皇后大道东183号合和中心46楼，成立日期2013年1月11日，上市日期2022年7月25日，公司主营业 务涉及创新药物的研发、生产和销售。主营业务收入构成为：技术授权和技术合作收入100.00%。 从基金十大重仓股角度 数据显示，天治基金旗下1只基金重仓益方生物。天治新消费混合（350008）三季度持有股数2.2 ...

Core Viewpoint - Zhifei Biological, a leading domestic vaccine company, has reported its worst performance forecast since its listing, with an expected net profit loss of between 10.698 billion to 13.726 billion yuan for 2025, marking a year-on-year decline of 630% to 780% [1][2]. Revenue Structure - Over 90% of Zhifei's revenue comes from agency products, with agency product revenue accounting for 98.05% and 94.61% in 2023 and 2024, respectively [6]. - The main source of agency revenue is the HPV vaccine, which is crucial for the company's performance in 2026 [6]. Market Competition - The HPV vaccine market has become increasingly competitive with the introduction of domestic vaccines, breaking the monopoly previously held by Merck [6][8]. - The price of HPV vaccines has significantly dropped, with the 2-valent HPV vaccine priced at 27.5 yuan per dose, a decrease of about 90% from over 300 yuan in 2022 [8]. Sales Decline - Zhifei's sales of the 4-valent HPV vaccine saw a dramatic decline, with a 95.49% drop in batch issuance in 2024, and a complete halt in 2025 [10]. - The company faces inventory issues, with stock levels rising to 20.246 billion yuan, a 125% increase from the previous year, leading to potential asset impairment risks [10]. New Product Development - Zhifei has four self-developed products expected to launch in 2026, including flu and rabies vaccines, but these are not classified as first-class applications [15][16]. - The competitive landscape for these products is intense, with many companies already established in the market, making it difficult for Zhifei to gain significant market share [15][19]. Financial Pressure - The company has signed a loan agreement for up to 10.2 billion yuan, indicating potential financial strain as it seeks to expand its self-developed product line [22]. - The reliance on agency products and the challenges in launching new products may continue to pressure Zhifei's financial performance in the coming years [21][22].

撰文丨王聪 编辑丨王多鱼 排版丨水成文 嗅觉 是由数千种 气味受体 （ Olfactory Receptor， OR） 介导的基本感觉之一。然而，疏水挥发性气味分子如何被 II 类嗅觉受体识别，目前仍不清楚。 2026 年 1 月 21 日，山东大学 孙金鹏 教授团队 、 于晓 / 杨帆 教授 团队及 上海交通大学医学院 李乾 研究员 团队 、山东第一医科大学 夏明 教授团队 合作 （ 韩翔 、 张鸣晖 、 荣乃康 、 朱孔凯 、 裴远 、 葛晓燕 为论文共同第一作者 ） ，在国际顶尖学术期刊 C ell 上发表了 题为： Mechanistic Insights into Fatty Acid Odor Detection Mediated by Class II Olfactory Receptors 的 研究论文 。 该研究筛选到了 II 类嗅觉受体 OLFR110 （ OR5V1 ） 可识别天然中药 佩兰 中的脂质分子，进一步阐明了其识别疏水的 脂肪酸类气味分子 的分子机制，并拓广 到 II 类受体 5 家族的多个受体识别气味的机制，为理解嗅觉受体进化及鼻外表达的 II 类气味受体 的生理功能提供支撑 ...

Core Viewpoint - Researchers at the University of British Columbia have developed a new technology to mass-produce important immune cells, specifically helper T cells, using stem cells, which is expected to significantly reduce the cost and simplify the process of cell therapy for diseases like cancer [1][2]. Group 1: Technology Development - The new technology allows for the efficient production of helper T cells, which are crucial for enhancing the function of other immune cells [2]. - The research focuses on the differentiation process of human pluripotent stem cells into T cells, identifying the Notch signaling pathway as essential for early T cell development [1]. - By precisely regulating the strength and duration of the Notch signaling pathway, researchers successfully produced mature helper T cells that closely resemble those found in the human body [1]. Group 2: Implications for Cell Therapy - The ability to economically and efficiently produce both helper T cells and cytotoxic T cells could greatly enhance the effectiveness and flexibility of cell therapies [2]. - This advancement addresses the challenges of current cell therapies, which are often complex, time-consuming, and costly due to the need for extracting and culturing a patient's own T cells [1].

Core Viewpoint - 科济药业-B (02171) has seen a nearly 4% increase in stock price, currently trading at 16.27 HKD, with a transaction volume of 4.9417 million HKD. The company announced a clinical collaboration with Dispatch Bio to initiate a Phase I clinical trial in China by 2026, focusing on the application of the combined therapy DISP-11 in solid tumor patients [1]. Group 1 - The collaboration with Dispatch Bio involves the use of the Flare platform to develop a universal treatment for solid tumors [1]. - The combined therapy consists of Dispatch's investigational therapy, including the novel tumor-specific virus DV-10, and 科济药业's targeted BCMA autologous CAR-T cell product,赛恺泽 (泽沃基奥仑赛注射液) [1]. - 赛恺泽 has already received approval from the National Medical Products Administration (NMPA) in China for the treatment of multiple myeloma [1].

每经AI快讯，金斯瑞生物科技(01548.HK)一度跌超7%，截至发稿，跌6.98%，报13.07港元，成交额1.3 亿港元。 ...

Core Viewpoint - Lijun Group's research indicates significant advancements in its biopharmaceutical platform, focusing on autoimmune, reproductive, and vaccine sectors, with key products nearing approval and promising clinical results [1][4][5] Group 1: Autoimmune Sector - Lijun Biopharmaceutical's core product, Lakanqita monoclonal antibody, shows a PASI100 response rate of 49.5% in severe psoriasis, outperforming the control group at 40.2%, and is expected to receive approval by the end of this year [1][6][7] - The company has completed Phase III clinical trials for ankylosing spondylitis, with approval anticipated next year, and significant sales growth for another product, tocilizumab, is expected in 2025 [1][4] Group 2: Reproductive Sector - The recombinant human follicle-stimulating hormone injection is expected to be approved within this year, reinforcing the company's leading position in the assisted reproductive field [1][4] Group 3: Vaccine Sector - The quadrivalent influenza recombinant protein vaccine, the first of its kind with an adjuvant, has completed Phase I safety trials and is expected to enter Phase II clinical trials in March [5] Group 4: Overseas Expansion Strategy - The company adopts a "dual-track" strategy for international expansion, focusing on licensing its innovative pipeline to mature markets and exporting formulations to emerging markets [2][9] - In Southeast Asia, the company is building a localized platform through the acquisition of IMP in Vietnam, while in South America, it is prioritizing registration and channel development in Brazil [9] Group 5: Cardiovascular Pipeline - H001, an oral direct thrombin inhibitor, is the fastest progressing project in its category in China, showing comparable efficacy to enoxaparin with a lower bleeding risk, and is preparing for Phase III trials [3][10] Group 6: GnRH Pipeline - The GnRH pipeline covers all indications and various formulations, with key products like the three-month formulation of leuprolide expected to be approved this year [11][12] Group 7: Chemical Preparation Sector - The chemical preparation sector generated 47.2 billion yuan in revenue from January to September 2025, accounting for 51.8% of the company's total revenue, serving as a core revenue support [13][14] - Future growth will be driven by product upgrades, innovative product launches, and deepening market penetration in core therapeutic areas [14][15][16]

Group 1 - Kingsray Biotechnology (01548) experienced a decline of over 7%, currently trading at 13.07 HKD with a transaction volume of 130 million HKD [1] - The stock price drop is attributed to the significant decline of over 11% in the share price of its affiliate Legend Biotech [1] - Legend Biotech reported a net trade sales figure of approximately 555 million USD for CARVYKTI for the fourth quarter ending December 31, based on information provided by Janssen, which has not been independently verified by either Legend or Kingsray [1] Group 2 - CARVYKTI achieved total sales of 1.332 billion USD in the first three quarters, with the third quarter sales amounting to 524 million USD [1]

Market Overview - A-shares experienced a slight increase, with the semiconductor sector leading the gains, while the Hang Seng Index rose by 0.37% to close at 26,585.06 points[3][10] - U.S. stock markets saw significant gains, with the Dow Jones up 1.21% to 49,077 points, and the S&P 500 rising 1.16% to 6,875 points, driven by improved market sentiment following Trump's announcement regarding Greenland[8][10] Economic Indicators - The U.S. dollar index recovered, closing at 98.76, while the Swiss franc fell sharply as risk aversion eased[4][23] - International oil prices increased, with WTI crude oil rising 0.46% to $60.62 per barrel, and Brent crude up 0.5% to $65.24 per barrel[4][23] Fixed Income Market - U.S. Treasury yields declined by 1-6 basis points, with the 10-year yield at 4.24% and the 30-year yield at 4.86%[4][27] - The auction of 20-year U.S. Treasuries showed strong demand, with a bid-to-cover ratio of 2.86, indicating robust investor interest[4][27] Sector Performance - In the U.S., the energy sector led the market with a 2.38% increase, supported by the International Energy Agency's upward revision of global oil demand forecasts[8] - In Hong Kong, the semiconductor sector surged, with stocks like兆易创新 (Zhaoyi Innovation) rising over 6%[10] Corporate Developments - Full-year shareholder returns for 满帮集团 (Manbang Group) are projected to be at least $400 million, with a focus on expanding into new business areas like smart driving[8] - 乐舒适 (Leshushi) is positioned to capture significant market share in Africa's personal care sector, with a projected CAGR of 6.8% from 2020 to 2024[12] Global Trade and Policy - Trump's announcement of a framework agreement regarding Greenland has eased trade tensions, contributing to positive market sentiment[4][8] - The European Parliament has postponed voting on the U.S.-EU trade agreement, reflecting ongoing trade negotiations[5]