Core Insights - 26 companies listed on the ChiNext board have released their performance forecasts for the first half of the year, with 19 companies expecting profit increases, representing 73.08% of the total [1] - The overall proportion of companies reporting positive forecasts is 80.77%, with 2 companies expecting profits and 1 company forecasting losses [1] Performance Forecast Summary - Among the companies with positive forecasts, 7 are expected to see net profit growth exceeding 100%, while 4 companies anticipate growth between 50% and 100% [1] - Han Yu Pharmaceutical is projected to have the highest net profit growth, with a median increase of 1567.36% [1] - Other notable companies include Chuanjin Nuo and Longyuan Technology, with expected net profit growth of 167.27% and 137.44% respectively [1] Company Performance Highlights - The following companies are highlighted for their significant expected profit increases: - Han Yu Pharmaceutical (Code: 300199) - Expected net profit growth: 1567.36%, Latest closing price: 18.24, Year-to-date change: 41.51%, Industry: Pharmaceutical [1] - Chuanjin Nuo (Code: 300505) - Expected net profit growth: 167.27%, Latest closing price: 19.95, Year-to-date change: 40.94%, Industry: Basic Chemicals [1] - Longyuan Technology (Code: 300105) - Expected net profit growth: 137.44%, Latest closing price: 8.11, Year-to-date change: 7.79%, Industry: Environmental Protection [1] - Other companies with notable growth include Chenguang Biotech, Feirongda, Boteng Co., and Huizhong Co. [1]

交银国际研究 公司更新 | 医药 | 收盘价 | | 目标价 | | 潜在涨幅 | 2025 年 7 月 11 日 | | --- | --- | --- | --- | --- | --- | --- | | 港元 | | 108.30 | 港元 | 140.00↑ | +29.3% | | | 康方生物 (9926 HK) | | | | | | | 依沃西多项适应症全面推进，I/O + ADC 布局差异化显著；上调目标价 个股评级 买入 1 年股价表现 资料来源 : FactSet 7/24 11/24 3/25 7/25 -50% 0% 50% 100% 150% 200% 250% 9926 HK 恒生指数 股份资料 | 52周高位 (港元) | 116.10 | | --- | --- | | 52周低位 (港元) | 38.30 | | 市值 (百万港元) | 97,082.29 | | 日均成交量 (百万) | 6.63 | | 年初至今变化 (%) | 78.42 | | 200天平均价 (港元) | 76.80 | | 资料来源 : FactSet | | 丁政宁 Ethan.Ding@b ...

Core Viewpoint - The Shanghai Stock Exchange Science and Technology Innovation Board Biopharmaceutical Index has shown strong performance, with significant increases in constituent stocks, indicating a positive trend in the biopharmaceutical sector [1][3]. Market Performance - As of July 11, 2025, the Biopharmaceutical Index rose by 1.23%, with notable gains from stocks such as Yifang Biotech (+10.31%), Shouyao Holdings (+8.34%), and Te Bao Biotech (+7.18%) [1]. - The Jiashi Science and Technology Medicine ETF (588700) also increased by 1.14%, marking its third consecutive rise [1]. Liquidity and Trading Volume - The Jiashi Science and Technology Medicine ETF recorded a turnover rate of 9.54% and a trading volume of 21.11 million yuan [3]. - Over the past month, the ETF has maintained an average daily trading volume of 33.32 million yuan, ranking first among comparable funds [3]. Fund Growth and Performance - In the last two weeks, the Jiashi Science and Technology Medicine ETF's scale increased by 17.56 million yuan, leading among comparable funds [3]. - The ETF's net value has risen by 37.70% over the past year, with a maximum single-month return of 23.29% since its inception [3]. Top Holdings - As of June 30, 2025, the top ten weighted stocks in the Biopharmaceutical Index accounted for 50.3% of the index, including companies like United Imaging Healthcare, BeiGene, and Huatai Medical [3][5]. Policy Support and Market Outlook - Recent policy documents have been released to support the high-quality development of innovative drugs, highlighting government backing for the sector [6]. - The number of innovative drugs in development in China has reached over 4,000, representing approximately 30% of the global total [5][6].

撰文丨王聪 编辑丨王多鱼 排版丨水成文 神经系统由 中枢神经系统 （CNS） 和 外周神经系统 （PNS） 组成，是一个遍布全身的复杂神经 元相互连接的网络，协调着复杂的生理和心理活动。对这一复杂系统的解剖结构进行可视化和绘图对于了解其功能及相关疾病的机制至关重要。 在过去十年里，由于 3D 光学显微镜技术的进步，中枢神经系统 （CNS） 全脑亚细胞分辨率的中尺度连接组学图谱绘制取得了重大进展。 然而，对于周围神经系统 （PNS） 进行类似的分析仍然颇具挑战性。 与相对紧凑且同质化的大脑不同，哺乳动物的身体则要大得多，而且高度异质化，包含不规则的结构和多种组织类型。因此，即便采用当前最先进的成像 技术，要在全身范围内清晰分辨周围神经系统 （PNS） 那些漫长、复杂且常常相互交织的神经路径，仍然极其困难。因此，目前对周围神经系统 （PNS） 的架构理解在很大程度上仍基于粗略的解剖学观察，这些观察仅提供了其路径、分支和连接模式的总体但不精确的概览。 2025 年 7 月 10 日 ，中国科学技术大学 毕国强 教授、 徐程 特任副研究员、 刘北明 教授 和 祝清源 高级工程师作为共同通讯作者 ， 在国际顶尖学术 期 ...

以下文章来源于每日经济新闻 ，作者每经记者 每日经济新闻 . 中国主流财经全媒体。互联网新闻信息服务许可证编号：51120190017 。 作 者 | 陈星 来源 | 每日经济新闻 导 语：此举被视为争夺股东支持的策略，也可能意在掏空现金以削弱对手未来控制权。 北京时间7月9日上午8时，科兴生物特别股东大会召开。股东投票通过了赛富基金（SAIF）提出的 两项提案：罢免现任董事会成员，并选举SAIF提名的十位资深董事候选人进入董事会，尹卫东阵营 占据绝大多数席位。 这场持续近十年的内斗，因创始人尹卫东与潘爱华的资本博弈而屡次升级，从私有化僵局、抢公 章、断电事件，到"毒丸计划"稀释股权，最终导致公司自2019年起被纳斯达克以"治理失效"强制停 牌。 此次董事会洗牌前，科兴生物抛出总额最高75亿美元的"清仓式"分红方案，被市场视为争夺股东支 持的策略，也可能意在掏空现金以削弱对手未来控制权。新董事会承诺推动复牌并落实分红，但维 梧资本等股东仍以诉讼质疑其合法性，科兴生物未来仍充满不确定性。 科兴生物董事会洗牌 这意味着，尹卫东阵营占据了科兴生物董事会的绝大多数席位。 据界面新闻报道，新董事会具体成员包括西蒙·安德 ...

疫苗ETF跟踪的是疫苗生科指数，该指数由中证指数有限公司编制，从沪深市场中选取涉及疫苗研发、 生产、销售及生物科技领域的上市公司证券作为指数样本，覆盖疫苗产业链各环节。该指数旨在反映中 国疫苗及生物科技行业上市公司证券的整体表现，具有突出的专业性和成长性特征。 （文章来源：每日经济新闻） 消息面上，7月8日国家医保局联合卫健委发布《支持创新药高质量发展的若干措施》（以下简称《措 施》），提出16条全链条支持政策，同步推进商保目录制定以完善多元支付体系。 上海证券指出，高层高度重视医药创新发展，2025年政府工作报告提出建立商业健康保险创新药目录， 支持创新药发展。《措施》明确医保数据可用于创新药研发，探索为研发提供医保数据服务，推动真创 新和差异化创新。医保准入综合考虑基金承受能力、临床需求等因素，形成符合药品临床价值的支付标 准。商业健康保险与基本医保错位发展，探索同步结算。创新药进医保时间显著缩短，从获批到纳入医 保已降至1年左右，约80%的创新药可在上市2年内纳入医保。2024年简易续约药品平均降幅仅为1.2%， 近80%以原价续约。商业健康保险市场快速增长，2024年原保险保费收入达9773亿元，同比 ...

"今天，微元合成阿洛酮糖（无花果糖）正式获得国家卫生健康委员会新食品原料公告行政许可，成为 全国首家获得批准上市的阿洛酮糖生产企业，也是唯一一家通过生物发酵工艺获批的企业。此次批准的 AS10菌株直接发酵法生产阿洛酮糖技术，是国内首个采用合成生物技术生产的新食品原料获批的案 例。"7月2日上午，在微元合成创始人、CEO刘波的微信朋友圈，记者看到这条令人振奋的消息。此次 国家卫生健康委员会批准使用的生产工艺绑定了申报企业的专利技术，这意味着，未获得国家行政许可 的企业将无法申请食品生产许可证，其阿洛酮糖产品也无法在国内合法上市销售。 6月19日，在"活力中国调研行"采访团来到微元合成生物技术（北京）有限公司时，微元合成阿洛酮糖 还在审批中。 据介绍，目前中国拥有全球最大的生物制造产能，约3000万吨产能中有近一半产能是淀粉糖产业。然 而，其中约有500万吨是果葡糖浆，如此大量的果葡糖浆消费补充了部分国内食糖需求缺口，但同时 也"催肥"了国民的身体。此外，由于生产过程消耗了大量的玉米、电和蒸汽，企业之间的竞争聚焦到了 原料和能源等生产要素，因此果葡糖浆产业常年处于微利或亏损状态，造成大量产能闲置，2024年中国 ...

Company Overview - Jiangsu Ruipai Life Science Technology Co., Ltd. (Ruipai Bio) has developed the PrimCell autologous cell collector, which has received medical device registration approval, making it the first autologous skin cell instant collection product approved for clinical use in China [1] - Established in 2021, Ruipai Bio focuses on skin regeneration technology and related clinical product research and industrialization [1] Product Innovation - The PrimCell autologous cell collector is an innovative artificial skin treatment system designed for skin injury repair management, applicable for burn wounds, vitiligo, superficial scars, and chronic wounds [1] - The product utilizes a proprietary two-step method to quickly isolate skin cells from healthy tissue, allowing immediate application of the harvested autologous skin cells to the wound, effectively using the patient's own wound as an incubator for skin regeneration [1] Market Context - The development of engineered skin represents a significant milestone in wound repair over the past 30 years, moving beyond traditional skin grafting methods and offering new hope for patients [1] - Despite advancements in engineered skin, the complexity and high costs of in vitro skin tissue construction have limited the clinical application and promotion of classic artificial skin products [1] Supporting Technology - Ruipai Bio has also developed a real-time cell detection and analysis system, a fully automated high-throughput counting machine that analyzes epidermal cell concentration, viability, diameter, and aggregation rate during surgery [2] - This system ensures the stable acquisition of viable skin cells with over 90% viability, supporting the treatment efficacy of the PrimCell technology [2] Industry Development - The biotechnology and new medical device cluster in Changzhou has been rapidly developing, with nearly 590 companies projected in 2024 and a production value exceeding 50 billion yuan [2] - The Changzhou Life and Health Industry Park is a key development hub for this cluster, ranking 21st in the national biopharmaceutical industrial park comprehensive competitiveness ranking [2]

Global Market Overview - The Federal Reserve's monetary policy adjustments have been a core variable affecting global markets, with a pause in tightening announced in Q1 2025 after three rate hikes in 2024, leading to significant capital flow restructuring [3] - Emerging markets attracted over $80 billion in foreign capital inflows in the first four months of the year, a 65% increase compared to the same period last year, with Southeast Asian and Latin American markets being the focal points [3] - In contrast, developed economies in Europe and the US are still in an adjustment phase, with the Eurozone facing energy price volatility and weak manufacturing recovery, resulting in a 3.2% decline in the Euro against the Dollar [3] China Economic Performance - China's economy demonstrated strong resilience with a Q1 GDP growth of 5.2%, driven by high-end manufacturing and the digital economy [4] - The production of new energy vehicles increased by 35%, industrial robots by 28%, and the core AI industry scale surpassed 5 trillion yuan, indicating a shift towards an innovation-driven model [4] - The A-share market exhibited structural characteristics, with the Sci-Tech Innovation Board rising by 12.6% this year, outperforming the broader market, particularly in strategic emerging industries like semiconductors and biomedicine [4] Investment Strategies - Investors are encouraged to establish a diversified asset allocation framework in response to the complex market environment [5] - The commodity market is undergoing structural changes, with rising demand for lithium and cobalt due to the increasing share of renewable energy, and global battery demand expected to exceed 2 TWh in 2025 [5] - Green bonds are emerging as a growth point, with global issuance expected to surpass $500 billion this year, and China accounting for 25% of this market [5] - Three main investment themes are suggested: globally competitive high-end manufacturing firms, service companies benefiting from consumption upgrades, and tech companies positioned to capitalize on the digital economy [5] Conclusion on Global Financial Landscape - The global financial landscape is undergoing profound changes, presenting both challenges and opportunities for investors [6] - A scientific investment framework and a long-term perspective are essential for navigating the complexities of the financial waves in this uncertain era [6]

"我们不再依赖间接证据，而是真正直接'看见'了全身神经网络如何精密连接，信号传导的'生命物联网'如何布局。"毕国强教授 表示。这项突破性技术有望解答神经生物学、发育生物学、解剖学及生物医学等领域众多悬而未决的根本问题，并应用于生物 医学研究及疾病机制解析，为未来精准神经调控疗法的开发奠定坚实的结构基础。例如，通过全面且精准定位神经退行性疾病 （如阿尔茨海默症）的早期结构变异来明确疾病的致病机理；以可视化方式评估药物（包括基因编辑疗法）对全身组织和器官 的靶向效果，加速药物研发进程。 据介绍，该团队将持续公开研究成果图像数据集，实现资源全球共享，以推动生物医药交叉合作。 记者从中国科学技术大学获悉，该校毕国强教授、刘北明教授联合合肥综合性国家科学中心人工智能研究院和中国科学院深圳 先进技术研究院团队，突破性研发出全球最快的小动物全身亚细胞分辨率三维成像技术，首次实现小鼠全身神经网络精细三维 图谱高清绘制。相关成果于北京时间7月10日发表于国际学术期刊《细胞》（Cell），为解析周围神经调控网络及疾病机理研究 提供了全新工具。 在生物体内，一张由亿万周围神经纤维编织成的精密"生命物联网"无处不在，承载着大脑与全身 ...