Core Viewpoint - 博瑞医药 announced the termination of its 2024 A-share issuance plan, which was intended to raise 500 million yuan, citing market conditions and company circumstances as reasons for the withdrawal [1][3]. Group 1: Termination of A-share Issuance - The A-share issuance plan was approved by the board and shareholders in May 2024, with the actual controller, Yuan Jiandong, set to fully subscribe at a price of 22.36 yuan per share [3]. - The plan faced delays and revisions over the course of a year, with the company ultimately retracting its application before the Shanghai Stock Exchange could issue a review inquiry [3][4]. Group 2: Stock Price Volatility - During the planning period for the issuance, the company's stock price fluctuated significantly, initially around 30 yuan and peaking at 122.59 yuan in early August 2025, before dropping to 53.25 yuan by mid-October, representing a 53.04% decline from its peak [4][5]. - Despite the stock price drop, the company's rolling P/E ratio remained high at 243.45, compared to the industry average of 30.82 [5]. Group 3: Financial Performance - From 2021 to 2024, the company's revenue increased from 1.052 billion yuan to 1.283 billion yuan, but net profit declined for four consecutive years, reaching 189 million yuan in 2024 [6]. - In the first half of 2025, revenue fell by 18.28% year-on-year to 537 million yuan, with net profit plummeting by 83.85% to 17.17 million yuan, primarily due to a 70.08% drop in antiviral raw material revenue [6][7]. Group 4: Future Financing Plans - Following the termination of the A-share issuance, the company is planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international financing capabilities [8]. - The company aims to consider shareholder interests and market conditions when determining the timing and details of the H-share issuance, although uncertainties remain regarding the approval process [8]. Group 5: Company Strategy and Market Position - 博瑞医药 is transitioning from a traditional chemical pharmaceutical company to an innovative drug enterprise, focusing on the development of innovative drugs, particularly in the weight loss sector [8]. - The termination of the A-share issuance may delay the company's progress in this area, but successful H-share issuance could provide necessary funding for innovation and commercialization efforts [8].

南方财经10月15日电，天眼查工商信息显示，近日，广生合癀（漳州）医药有限公司成立，法定代表人为黄晓航，注册资本5000万人民币，经营范围含药品 批发、食品销售、保健食品销售、食品互联网销售、特殊医学用途配方食品销售、化妆品批发、日用杂品销售、以自有资金从事投资活动等。股东信息显 示，该公司由广生堂（300436）以及片仔癀（600436）旗下福建片仔癀健康科技有限公司分别持股51%、49%。 | | 查公司 查老板 查关系 查风险 | | | --- | --- | --- | | 2 天眼查 都在用的商业直间工具 TlanYanCha.com 国家中小企业发展子基金旗下机构 | 广生合癢（漳州）医药有限公司 | (*) 天眼一下 | | 基本信息 12 | 经营风险 | 法律诉讼 | | 经营信息 公 | | --- | --- | --- | --- | --- | | 法定代表人 | | 黄 黄晓航 | 登记状态 ② | 存续 | | | | | 成立日期 | 2025-10-13 | | 统一社会信用代码 ② | | 91350603MAG18XPH9Y | 注册资本 ② | 5000万人民币 | ...

Group 1 - The core point of the news is that Hualan Co., Ltd. (华兰股份) is currently experiencing a decline in stock price, with a closing price of 37.26 yuan and a drop of 6.45%, resulting in a total market value of 6.118 billion yuan [1] - Hualan Co., Ltd. was listed on the Shenzhen Stock Exchange's ChiNext board on November 1, 2021, with an initial public offering (IPO) of 33.66667 million shares, accounting for 25% of the total share capital after issuance, at a price of 58.08 yuan per share [1] - The total amount raised by Hualan Co., Ltd. during the IPO was 1.955 billion yuan, with a net amount of 1.804 billion yuan, which exceeded the original plan by 1.254 billion yuan [1] - The company planned to use the raised funds for automation and intelligent factory renovation, research and development center construction, and to supplement working capital [1] - The issuance costs amounted to 151 million yuan, with the underwriting and sponsorship fees to Huatai United Securities Co., Ltd. being 133 million yuan [1] Group 2 - Hualan Co., Ltd. announced its 2024 annual equity distribution plan, which includes a cash dividend of 2 yuan for every 10 shares held and a capital reserve conversion of 3 shares for every 10 shares held [2] - The record date for the equity distribution is set for July 11, 2025, and the ex-dividend date is July 14, 2025 [2] - The trading date for the newly issued shares without restrictions will also begin on July 14, 2025 [2]

Core Viewpoint - Three new stocks from the Sci-Tech Innovation Board are set to be issued, with a total expected fundraising of 9.751 billion yuan [1][2]. Group 1: Company Summaries - **He Yuan Bio**: - Issuance date: October 14, 2025 - Total shares to be issued: 89.4514 million - Online issuance: 14.3120 million shares - Issuance price: 29.06 yuan - Company specializes in innovative biopharmaceuticals with a leading global plant bioreactor technology platform [1]. - Projected net profit for 2023 and 2024: -187 million yuan and -151 million yuan, respectively, with year-on-year changes of -30.22% and 19.04% [1]. - **Xi'an Yicai**: - Issuance date: October 16, 2025 - Total shares to be issued: 538 million - Online issuance: 53.78 million shares - The company focuses on the research, production, and sales of 12-inch silicon wafers in the semiconductor silicon materials sector [2]. - Projected net profit for 2023 and 2024: -578 million yuan and -738 million yuan, respectively, with year-on-year changes of -40.35% and -27.63% [2]. - **Bibet**: - Issuance date: October 17, 2025 - Total shares to be issued: 90 million - Online issuance: 14.4 million shares - The company is a biopharmaceutical firm focused on innovative drug development for major diseases such as cancer and autoimmune diseases [2]. - Projected net profit for 2023 and 2024: -173 million yuan and -55.9983 million yuan, respectively, with year-on-year changes of 8.27% and 67.59% [2].

Core Viewpoint - Wuhan Heyuan Biotechnology Co., Ltd. is set to launch an initial public offering (IPO) on the STAR Market, aiming to raise approximately 259.95 million yuan through the issuance of 8,945,135.4 shares at a price of 29.06 yuan per share [2]. Group 1: Company Overview - The company is an innovative biopharmaceutical enterprise with a globally leading plant bioreactor technology platform [2]. - The controlling shareholder and actual controller of the company is Yang Daichang, who directly holds 15.03% of the shares, making him the largest shareholder [2]. - Through various agreements, Yang Daichang controls a total of 29.25% of the voting rights in the company [2]. Group 2: IPO Details - The company plans to raise 240 million yuan for the construction of a human albumin industrialization base, new drug research and development projects, and to supplement working capital [2]. - The expected net proceeds from the IPO, after deducting approximately 16.90 million yuan in issuance costs, are estimated to be 243.04 million yuan [2]. - The IPO is scheduled for online subscription on October 14, 2025, with a maximum subscription limit of 14,000 shares for individual investors [1].

Core Viewpoint - The company is an innovative biopharmaceutical enterprise with a leading global plant bioreactor technology platform, focusing on the development of recombinant protein drugs and addressing clinical needs through its core product HY1001, which has shown promising results in clinical trials [5]. Company Overview - The company specializes in the biopharmaceutical industry, particularly in the production of recombinant proteins using rice endosperm cell bioreactors [5]. - The core product, HY1001, has completed Phase III clinical trials in China, demonstrating good safety and efficacy [5]. Financial Data - Revenue projections show an increase from 0.13 billion yuan in 2022 to 0.24 billion yuan in 2023, and slightly to 0.25 billion yuan in 2024 [6]. - Net profit is expected to worsen from -1.44 billion yuan in 2022 to -1.87 billion yuan in 2023, before improving to -1.51 billion yuan in 2024 [6]. - The cash flow from operating activities per share is projected to decline from -0.25 yuan in 2022 to -0.46 yuan in 2023, with an expected recovery to -0.20 yuan in 2024 [6]. Industry Context - The company operates within the pharmaceutical manufacturing sector, with a current market price-to-book ratio of 3.43 times, compared to the industry average of 32.08 times [2]. - The comparable companies in the sector, such as ShenZhou Cell and BaiAoTai, have experienced declines in stock prices of -9.02% and -11.87% respectively over the past month [3]. SWOT Analysis - **Strengths**: The company benefits from a unique plant bioreactor technology that allows for high-quality and safe recombinant protein production, with the potential for large-scale manufacturing [11]. - **Opportunities**: The biopharmaceutical sector is expected to grow due to increasing clinical demands, improved payment capabilities, and supportive government policies [12]. - **Weaknesses**: The company faces challenges in validating the commercialization of its core technologies and products, as well as navigating the regulatory approval processes for its plant-based drugs [12].

Group 1: Earnings Forecasts - Chuangjiang New Material expects a net profit of 350 million to 380 million yuan for the first three quarters of 2025, representing a year-on-year increase of 2057.62% to 2242.56% [2] - Chenguang Biological anticipates a net profit of 278 million to 314 million yuan for the first three quarters of 2025, reflecting a year-on-year growth of 344.05% to 401.55% [2] - Sanmei Co. forecasts a net profit of 1.524 billion to 1.646 billion yuan for the first three quarters of 2025, indicating a year-on-year increase of 171.73% to 193.46% [3] - Juchip Technology expects a revenue of 721 million yuan for the first three quarters of 2025, a year-on-year increase of 54.50% [3] - Feirongda anticipates a net profit of 275 million to 300 million yuan for the first three quarters of 2025, representing a year-on-year growth of 110.80% to 129.96% [4] Group 2: Share Buybacks - Jiuan Medical plans to repurchase shares with a total amount between 300 million and 600 million yuan, with a maximum repurchase price of 53.5 yuan per share [5] - COSCO Shipping Holdings intends to repurchase between 50 million and 100 million shares, with an estimated repurchase amount of 749 million to 1.498 billion yuan [5] - Zhonggong International plans to repurchase shares with a total amount not exceeding 100 million yuan, with a maximum repurchase price of 12.85 yuan per share [5] - Fujilai intends to repurchase shares with a total amount between 20 million and 40 million yuan, with a maximum repurchase price of 40 yuan per share [6] Group 3: Significant Shareholding Changes - Shanghai Pudong Development Bank received notification that China Mobile increased its shareholding in the bank to 18.18% after converting 563.1 million yuan of convertible bonds into 450 million shares [7] Group 4: Other Earnings Forecasts - Yuegui Co. expects a net profit of 420 million to 470 million yuan for the first three quarters of 2025, reflecting a year-on-year increase of 86.87% to 109.11% [9] - Zhongshi Technology anticipates a net profit of 230 million to 270 million yuan for the first three quarters of 2025, indicating a year-on-year growth of 74.16% to 104.45% [9] - Longxin General expects a net profit of 1.52 billion to 1.62 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 69.13% to 80.26% [10] - Dongfang Iron Tower forecasts a net profit of 750 million to 900 million yuan for the first three quarters of 2025, reflecting a year-on-year growth of 60.83% to 93% [10]

每经AI快讯，多瑞医药（SZ 301075，收盘价：40.08元）10月13日晚间发布公告称，经公司向深圳证券 交易所申请，公司股票自2025年10月14日（星期二）上午开市起复牌。 截至发稿，多瑞医药市值为32亿元。 每经头条（nbdtoutiao）——中科院博导带队，中国固态电池技术又有重大突破！ （记者 曾健辉） 2024年1至12月份，多瑞医药的营业收入构成为：医药制造业占比57.85%，其他占比42.15%。 ...

截至发稿，圣诺生物市值为65亿元。 每经AI快讯，圣诺生物（SH 688117，收盘价：41.58元）10月13日晚间发布业绩预告，成都圣诺生物科 技股份有限公司预计2025年前三季度实现归属于母公司所有者的净利润约1.14亿元~1.4亿元，与上年同 期相比，增加5724.99万元~8262.7万元，同比增加100.53%~145.1%。业绩变动主要原因是，报告期内， 公司主营业务稳定发展，随着投建产能不断落地，公司多肽原料药业务订单需求持续增长，带动公司整 体业绩稳步提升，与同期相比业绩实现较大增长，使得公司保持较强的市场竞争力与持续盈利能力。 2024年1至12月份，圣诺生物的营业收入构成为：医药制造业占比98.91%，其他业务占比1.09%。 （记者 胡玲） 每经头条（nbdtoutiao）——AI技术滥用调查：明星可被"一键换装"，"擦边"内容成流量密码，技术防 线为何形同虚设？ ...

证券研究报告 2025 年 10 月 13 日 星期一 【新股发行跟踪（20251013）】 一、上周新股表现情况 上周（10 月 6 日-10 月 10 日）共有 1 只新股上市，上市首日涨跌幅为 349.82%。 表 1：上周新股表现 新股发行跟踪 图 2：周度新股上市首日涨跌幅均值及破发率 | 股票代码 | 股票简称 | 上市日期 | 上市 | 发行价 | 发行市 | 证监会行业 | 首日收盘 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 板块 | 格（元） | 盈率 | | 涨跌幅(%) | | 920080.BJ | 奥美森 | 2025-10-10 | 北证 | 8.25 | 12.52 | 专用设备制造业 | 349.82 | 资料来源：东莞证券研究所，iFinD 二、周度新股上市情况走势 从周度新股上市规模来看，上周（10 月 6 日-10 月 10 日，下同）较上 上周（9 月 29 日-10 月 3 日，下同）相比，上市新股数量少 1 只，首发募 资金额少 21.79 亿元。 从周度上市新股表现来看，上周与上上周均无 ...