信达证券指出，医药生物行业近期表现低迷，创新药板块因上半年BD预期大幅上涨后处于回调盘整阶 段。创新器械设备受益于国债支持医疗设备更新政策的持续推进、高端国产医疗设备加速进口替代及海 外市场拓展，有望走出2023年下半年以来的低谷，预计2025Q3开始企稳增长，2026年业绩渐入较好增 长态势。医疗器械领域，院内招采恢复驱动业务增长，消费医疗器械需求逐步修复，进口替代加速；骨 科关节耗材集采降价已触底，骨科机器人市场份额提升，出海带来新增量。CXO及生命科学上游产业 链中，具备全球影响力的龙头企业及以国内业务为主的临床CRO龙头表现突出。制药装备行业随着创 新药投融资回暖及BD交易频发驱动CMO复苏，逐步传导至制药装备领域，有望实现周期反转，海外固 定资产开支加速上行将打开成长新空间。 医疗ETF（159828）跟踪的是中证医疗指数（399989），该指数从中国A股市场中选取涉及医疗器械、 医疗服务、医疗信息化等细分领域的上市公司证券作为指数样本，以反映医疗行业相关上市公司证券的 整体表现。 风险提示：提及个股仅用于行业事件分析，不构成任何个股推荐或投资建议。指数等短期涨跌仅供参 考，不代表其未来表现，亦不构 ...

证券日报网讯 12月16日，东富龙在互动平台回答投资者提问时表示，公司严格按照重大合同的标准履 行信息披露义务。2025年半年度报告期内，公司实现国际业务收入8.05亿元，占公司报告期营业收入 33.14%，较上年同期增长63.25%。公司坚持科技创新，将持续加大研发技术投入，聚焦制药及装备产 业发展的关键技术和关键环节，持续研发新产品及改进现有产品，打造一批具有核心竞争力的产品。同 时，公司也将持续关注并积极寻求新的外延成长机会，充分考量业务布局、协同效应、创新性及独特性 的前提下，积极寻找合适的领域或者标的，力争实现内生与外延成长的协同发展。 （编辑 袁冠琳） ...

Investment Rating - The investment rating for the pharmaceutical and biotechnology industry is "Positive" [2]. Core Viewpoints - The recent performance of the pharmaceutical sector has been sluggish, with the innovative drug sector experiencing a significant rise in expectations earlier this year, now undergoing a correction. However, innovative medical devices are expected to benefit from ongoing government support for medical equipment upgrades and accelerated domestic replacement of high-end medical devices, alongside continuous expansion into overseas markets. A recovery is anticipated starting in Q3 2025, with performance gradually improving in 2026 [3][9]. - The high-end medical device sector is driven by the recovery of in-hospital procurement, suggesting a focus on companies such as United Imaging, Shandong Weigao, and Mindray Medical. The demand for consumer medical devices is gradually recovering, with a shift in market share from imported brands, indicating potential in companies like Kefu Medical and Yuyue Medical. The orthopedic consumables market has reached a price floor, with opportunities for market share growth in orthopedic robotics and overseas expansion, highlighting companies like Aikang Medical and Chuangli Medical [3][9]. - The pharmaceutical equipment sector is undergoing a cyclical recovery, with rapid overseas growth opening new avenues for growth. Domestic margins are expected to stabilize and profitability to improve, with a return to rational competition anticipated from late 2024. The recovery in innovative drug financing and frequent business development transactions are expected to drive a revival in contract manufacturing organizations (CMOs), positively impacting the pharmaceutical equipment industry. Additionally, global strategic safety backups and commitments from multinational pharmaceutical companies to invest in the U.S. market are projected to accelerate fixed asset expenditures in the pharmaceutical sector over the next three years, with a focus on companies like Senson International and Dongfulong [3][9]. - In the CXO and upstream life sciences supply chain, leading global CXO companies such as WuXi AppTec and Kanglong Huacheng are highlighted. Domestic clinical CRO leaders like Tigermed and Pruce are also recommended, along with resource-based CXOs such as Zhaoyan New Drug and Mediso. The upstream life sciences supply chain includes companies like Baipusais and Haier Biomedical [3][9]. Summary by Sections Market Performance - The pharmaceutical and biotechnology sector's return was -1.04% last week, ranking 17th among 31 sub-industry indices. The medical services sub-sector had the highest weekly return at 1.67%, while the pharmaceutical commercial sub-sector had a return of -4.26% [3][9]. Industry Trends - The report emphasizes the ongoing low performance of the pharmaceutical sector, particularly in innovative drugs, while highlighting the potential recovery in innovative medical devices and the pharmaceutical equipment sector [3][9]. Recommendations - Specific companies to watch include United Imaging, Mindray Medical, Kefu Medical, and Aikang Medical in the high-end medical device sector, as well as Senson International and WuXi AppTec in the pharmaceutical equipment and CXO sectors [3][9].

证券日报网讯12月15日，迦南科技（300412）在互动平台回答投资者提问时表示，截至2025年12月10 日，公司股东人数为28217户。 ...

攻坚智能制造，长沙3 家企业拟"揭榜挂帅" 楚天科技的"生物医药智慧工厂整体解决方案"也榜上有名。企业在具备制药装备全产业链解决方案能力 的基础上，正持续向海外输出其在创新药领域的技术实力，目前已全面完成了从中国设备制造商向世界 级制药装备解决方案提供商的战略升级。 为"智造"厚植沃土 (资料图 片仅供参考) 3家企业的上榜绝非偶然。其背后是长沙瞄准智能制造核心战略，系统构筑产业生态，为"揭榜挂帅"厚 植坚实沃土。 工信部公示2025 年度智能制造系统解决方案"揭榜挂帅"项目名单 天恒测控、长泰机器人、楚天科技上 榜 日前，工信部公示2025年度智能制造系统解决方案"揭榜挂帅"项目名单，来自长沙的3家企业——长沙 天恒测控股份有限公司、长沙长泰机器人有限公司、楚天科技股份有限公司拟入选。记者注意到，从高 端装备的硬核实力到生物医药的领先技术，智能制造正为长沙企业全面赋能，推动其转型升级、加速发 展。 以技术创新实力"揭榜" 本次拟上榜的3家企业虽所处领域各异，却共同体现了长沙智能制造企业瞄准行业痛点、突破技术瓶 颈、赋能产业升级的清晰路径与硬核实力。 天恒测控的"电工钢生产磁性能自动检测解决方案"拟入选本次名 ...

制药装备行业专家交流 20251211 Q&A 今年以来制药装备行业的下游需求情况如何？主要影响因素有哪些？ 今年以来，制药装备行业的下游需求主要集中在产线和研发设备上，包括政府 项目及相关上下游设备采购。与去年相比，今年市场热度明显提升，特别是从 第三季度开始，项目数量显著增加，各家设备厂商的投标项目和相关信息也越 来越多。这种需求增长主要源于大企业的转型，例如一些企业从利润较薄的仿 制药转向创新药，并且经过一段时间后，这些创新药已经进入临床阶段并逐步 投入市场。此外，中药市场近年来也受到国内重视，许多中药企业如华润、济 川、贵州百灵、新疆云朵兰等都在扩展规模和新建设。 摘要 制药装备行业受益于创新药和中药市场扩张，企业转型和新建需求增加， 推动设备需求增长，但下游客户对价格敏感度提升，利好国产替代。 行业竞争格局调整，企业放弃低利润项目，专注于优势领域，下游客户 提高预算，推动上市公司毛利率和净利润在第三季度得到改善。 行业集中度提高，同时涌现专注单一产品的小型精细化企业，类似国外 市场趋势，成为新的增长点，但中药企业对高效制粒技术需求增加。 国内制药装备在固体制剂智能化方面取得进展，连续包衣、制粒和混合 ...

（文章来源：证券日报） 证券日报网讯 12月10日，迦南科技在互动平台回答投资者提问时表示，截至2025年11月28日，公司股 东人数为28586户。 ...

编号：2025-011 | | 特定对象调研 □分析师会议 | | --- | --- | | | 媒体采访 □业绩说明会 | | 调研活动类别 | □新闻发布会 □路演活动 | | | 现场参观 其他 | | 参与单位名称 | 康曼德资本、中泰证券、人保资产、国信证券 | | 时 间 | 2025 年 11 月 20 日下午 14:00-16:00 | | 地 点 | 公司会议室 | | 上市公司接待 | 董事会秘书：黄玉婷 | | 人员姓名 | 证券事务代表：周德伟 | | | 一、内容提要： | | | 1、厂区参观 | | | 2、会议室座谈 | | | 二、主要关注的问题与回复如下： | | | 1、公司的海外市场拓展方向和策略介绍。 | | | 国际市场拓展，公司目前主要聚焦东南亚、中东非、欧洲、 | | | 美洲、印度新澳五大区域，推动高质量销售与服务落地，依托行 | | | 业稀缺的整体解决方案能力、高性价比服务及渠道优势拓展客户。 | | 交流内容 | 后续欧洲、美洲区域订单与业绩有望实现逐步突破，中东非、 | | | 东南亚区域已取得阶段性突破性成果，整体海外业务已进入快速 | | ...

Core Insights - On November 20, Chutian Technology experienced a decline of 1.44% with a trading volume of 209 million yuan [1] - The company reported a financing buy-in of 9.3967 million yuan and a financing repayment of 14.8762 million yuan, resulting in a net financing outflow of 5.4795 million yuan on the same day [1] - As of November 20, the total margin balance for Chutian Technology was 240 million yuan, with a financing balance of 239 million yuan, accounting for 4.01% of the circulating market value, indicating a high level compared to the past year [1] Financing and Margin Data - On November 20, Chutian Technology had a financing buy-in of 9.3967 million yuan, with a current financing balance of 239 million yuan, which is above the 90th percentile of the past year [1] - The company had no shares repaid or sold in the margin trading on the same day, with a margin balance of 431,500 yuan and a margin volume of 44,900 shares, also above the 80th percentile of the past year [1] Company Overview - Chutian Technology, established on November 8, 2002, and listed on January 21, 2014, is based in Ningxiang, Hunan Province, and specializes in pharmaceutical equipment and comprehensive technical solutions [2] - The company's revenue composition includes: detection packaging solutions (24.88%), parts and after-sales services (16.44%), biological engineering solutions (14.84%), sterile preparation solutions (14.61%), pharmaceutical water equipment (13.81%), solid preparation solutions (10.85%), EPC engineering design services (3.57%), and other products (1.01%) [2] - As of September 30, the number of shareholders increased by 4.10% to 28,900, with an average of 19,913 circulating shares per person, a decrease of 3.94% [2] Financial Performance - For the period from January to September 2025, Chutian Technology reported a revenue of 3.896 billion yuan, a year-on-year decrease of 6.60%, while the net profit attributable to shareholders increased by 145.11% to 84.4635 million yuan [2] Dividend and Shareholding - Chutian Technology has distributed a total of 361 million yuan in dividends since its A-share listing, with 117 million yuan distributed over the past three years [3] - As of September 30, 2025, the third-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 9.3865 million shares, a decrease of 800,600 shares from the previous period [3] - Anxin Medical Health Stock A is a new entrant among the top ten circulating shareholders, holding 1.7338 million shares [3]

Core Points - Hanbang Technology's stock price decreased by 1.76% on November 17, with a trading volume of 42.3962 million yuan [1] - The company recorded a net financing purchase of 1.1831 million yuan on the same day, with a total financing balance of 80.224 million yuan, accounting for 10.58% of its market capitalization [1] - As of September 30, the company achieved a revenue of 506 million yuan, representing a year-on-year growth of 4.61%, while the net profit attributable to shareholders decreased by 17.27% to 37.0172 million yuan [2] Financing and Trading Data - On November 17, Hanbang Technology had a financing buy amount of 2.7984 million yuan and a financing repayment of 1.6154 million yuan [1] - The company had no short selling activity on November 17, with a short selling balance of 0 [1] - The total number of shareholders as of September 30 was 8,687, a decrease of 7.31% from the previous period [2] Business Overview - Hanbang Technology, established on October 28, 1998, specializes in providing separation and purification equipment, consumables, application technology services, and related technical solutions for the pharmaceutical and life sciences sectors [1] - The revenue composition of the company includes 70.99% from small molecule drug separation and purification equipment, 22.94% from large molecule drug separation and purification equipment, and 6.07% from other sources [1] - The company has distributed a total of 8.8 million yuan in dividends since its A-share listing [3]