Investment Rating - The report does not explicitly state an investment rating for the industry [1] Core Insights - The domestic biopharmaceutical innovation is expected to accelerate, driven by the approval of the "Regulations on the Management of Clinical Research and Clinical Translation Applications of Biomedical New Technologies (Draft)" by the State Council on September 12 [2][12] - The report highlights the importance of promoting biomedical technology innovation and the need for regulatory frameworks to ensure safety and quality in clinical applications [2][12] - The report expresses optimism towards companies focusing on new biomedical technologies, particularly in areas such as gene editing, cell therapy, and stem cell research [2] Weekly Market Review - The biopharmaceutical sector experienced a decline of 0.36% from September 8 to September 12, underperforming compared to the Wind All A index (2.12%) and the CSI 300 index (1.38%) [7] - Among sub-sectors, medical devices (3.02%), in vitro diagnostics (2.0%), and pharmaceutical distribution (1.44%) showed the highest gains, while chemical preparations (-2.83%), raw materials (-1.06%), and blood products (-0.72%) faced the largest declines [7][8] - Notable stock performances included Zhend Medical (41.3%), Haooubo (28.0%), and Jimin Health (25.9%) with significant gains, while Yuekang Pharmaceutical (-18.4%), Maiwei Biotech-U (-14.4%), and Yirui Biotech (-14.0%) saw substantial losses [10] Industry News and Key Company Announcements - The report mentions significant events such as the collaboration between Shiyao Group and Kangning Jiere to develop a new drug for HER2-positive gastric cancer, which has been accepted for review by the National Medical Products Administration [12] - The report also notes the approval of a new drug by Johnson & Johnson for treating non-muscle invasive bladder cancer, marking a significant advancement in bladder cancer treatment [14] - BioNTech and Bristol Myers Squibb reported promising mid-term data for their bispecific antibody in treating extensive-stage small cell lung cancer, showing an objective response rate of 76.3% [14]

Core Viewpoint - The sudden passing of Liu Zhonghua, a core founder and key executive of Shuoshi Biotechnology, raises concerns about the company's future amidst industry challenges and operational pressures [2][5][6] Company Overview - Shuoshi Biotechnology was founded in 2010, focusing on infectious disease testing and maternal and child health [5] - The company specializes in the research, production, and sales of in vitro diagnostic reagents and related testing instruments, adopting an integrated business model of "reagents + instruments + services" [5] Leadership and Contributions - Liu Zhonghua was a molecular biology expert and had a significant role in the company's development, serving as a technical director and vice president from 2010 to 2017, and as a board member since 2017 [5][6] - He voluntarily reduced his salary by 40% recently to support the company's operational efficiency [6] - Liu held 2.57% of the company's total shares, amounting to 2.15 million shares [5] Recent Company Performance - Shuoshi Biotechnology is currently facing performance pressures due to industry adjustments [6] - The company recently implemented voluntary salary reductions among its executives to optimize operational costs and improve management efficiency [6] Board Composition - Following Liu Zhonghua's passing, the board of directors has decreased from 9 to 8 members, which is still above the legal minimum but below the number stipulated in the company's articles of association [6] - The company plans to complete the board member replacement process in accordance with legal procedures [6]

Group 1 - The company, Shuoshi Biotechnology, announced the passing of its board member and vice president, Liu Zhonghua, due to sudden illness on September 12, 2025, at the age of 56 [1][3] - Liu Zhonghua was a core founder of Shuoshi Biotechnology and had recently voluntarily reduced his salary by 40% to support the company's operations [3][9] - The company focuses on the research, production, and sales of in vitro diagnostic products, particularly in the fields of infectious disease testing and maternal and child health [7][8] Group 2 - Liu Zhonghua held a Ph.D. from Xi'an Jiaotong University and was recognized as an expert in molecular biology, contributing significantly to the company's development [7][8] - Following Liu's passing, the board of directors will decrease from 9 to 8 members, which does not affect the normal operation of the board but is below the number stipulated in the company's articles of association [9] - The company plans to complete the board member replacement process in accordance with legal procedures and will fulfill its information disclosure obligations [9]

Industry Research - The A-share market is expected to receive multi-dimensional incremental capital support, driven by improved market profitability attracting individual investors, stable participation from industrial capital and public funds, and a potential shift of bank wealth management funds towards equity markets [4] - The performance recovery of public funds is likely to boost the issuance of equity funds [4] Company Research - Haolubo (688656.SH) is a leading company in the domestic allergy testing field, with steady revenue growth in recent years, achieving revenue of 402 million yuan in 2024, a year-on-year increase of 2.01%, and a net profit attributable to shareholders of 37 million yuan [7]

Core Viewpoint - The sudden passing of Liu Zhonghua, a core founder and key executive of Shuoshi Biological, raises concerns about the company's future operations and governance structure [1][6][7] Company Overview - Shuoshi Biological was founded in 2010, focusing on infectious disease testing and maternal and child health [5] - The company specializes in the research, production, and sales of in vitro diagnostic reagents and related testing instruments, adopting an integrated business model of "reagents + instruments + services" [5] Leadership and Contributions - Liu Zhonghua served as a technical director and vice president from August 2010 to March 2017, and as a board member from March 2011 to March 2017 [6] - He held the position of director, technical director, and vice president of the listed company since March 2017 [6] - Liu was recognized for his dedication to the development of diagnostic products related to infectious diseases and maternal and child health, receiving multiple honors including "Outstanding Communist Party Member of Jiangsu Province" and "National Model Worker" [6] Shareholding and Governance - Liu Zhonghua directly held 2.57% of the company's total shares, amounting to 2.15 million shares [6] - Following his passing, the board of directors decreased from 9 to 8 members, which is still above the legal minimum but below the number stipulated in the company's articles of association [7] - The company plans to complete the board member replacement process in accordance with legal procedures [7] Financial Context - The company is currently facing performance pressure due to industry adjustments [7] - In response to external pressures, the company's executives, including Liu Zhonghua, voluntarily reduced their salaries, with Liu's salary cut by 40% [7] - Liu's reported compensation for the previous year was 1.5162 million yuan [7]

Core Viewpoint - The chairman of Guofang Co., Jiang Ye, has increased his shareholding by 30.0166 million yuan, raising his ownership stake to 0.92%, which may position him among the top 10 shareholders of the company [2][6][7]. Shareholding Increase - Jiang Ye's shareholding increase was based on confidence in the company's future and long-term investment value, with a planned investment of no less than 30 million yuan and no more than 60 million yuan [5]. - The initial plan faced delays due to various factors, including reporting periods and market conditions, leading to an extension of the share purchase period by two months [6]. - As of August 26, the total shares acquired by Jiang Ye amounted to 480,490 shares, with a total investment of 30.0166 million yuan [6]. Company Performance - Guofang Co. has experienced a decline in revenue and net profit for two consecutive years, with a reported revenue of 150 million yuan in the first half of 2025, down 13.02% year-on-year [7]. - The main reason for the losses was attributed to its subsidiary, Guangzhou Gaosheng Biotechnology Co., which saw a 23.15% decrease in revenue due to fewer project wins and extended accounts receivable periods [7][8]. - The subsidiary's performance has significantly deteriorated, with a revenue drop of 40.66% in 2023 and a net profit decrease of 81.14% [8]. Shareholder Control Issues - The controlling shareholders, Zhu Rongjuan and Peng Tao, have seen their shareholding decrease due to stock pledges and freezes, with 77.15% of their shares subject to judicial freezes [9]. - The company has indicated a high risk of changes in actual control due to ongoing legal issues involving the controlling shareholders [9][10]. - Recent attempts by Zhu Rongjuan to nominate board candidates have been unsuccessful, indicating potential governance challenges within the company [10].

Core Viewpoint - The chairman of Guofang Co., Jiang Ye, has increased his shareholding by 30.0166 million yuan, raising his ownership stake to 0.92%, which may position him among the top 10 shareholders of the company [1][4]. Shareholding Changes - Jiang Ye's shareholding increase was part of a plan announced in December 2024, where he intended to invest between 30 million and 60 million yuan over six months, but the plan faced delays due to various factors [3][4]. - As of June 24, 2025, Jiang Ye had acquired a total of 363,300 shares for 1.9994 million yuan, with the plan extended by two months to August 24, 2025 [3][4]. Financial Performance - Guofang Co. has experienced a decline in revenue and net profit for two consecutive years, with a reported revenue of 150 million yuan in the first half of 2025, down 13.02% year-on-year, and a net loss of 5.8417 million yuan [5][6]. - The decline in performance is attributed to reduced project wins and longer accounts receivable periods at its subsidiary, Guangzhou Gaosheng Biotechnology Co., which saw a revenue drop of 23.15% [6][7]. Subsidiary Performance - Gaosheng Biotechnology, a key subsidiary, reported a significant revenue decline of 40.66% in 2023, with net profit plummeting by 81.14% [7]. - The company has faced challenges leading to a total goodwill impairment of 115 million yuan over 2023 and 2024 due to the subsidiary's poor performance [7]. Shareholder Control Issues - The controlling shareholders, Zhu Rongjuan and Peng Tao, have seen their stake in Guofang Co. decrease significantly due to stock pledges and judicial freezes, with 77.15% of their shares being frozen [8][9]. - The company has indicated a high risk of changes in actual control due to ongoing legal issues involving the controlling shareholders [8]. Board Dynamics - Zhu Rongjuan's nominated board candidates have faced repeated rejections by the board, indicating potential governance challenges within the company [9].

Core Viewpoint - Oriental Bio has faced significant operational challenges, including two consecutive years of losses and recent management changes, which have raised concerns about its future performance and strategic direction [1][2][3]. Financial Performance - Oriental Bio reported a dramatic decline in revenue, with 2023 revenue plummeting by 90.65% to 820 million yuan, and a net loss of 398 million yuan, marking a 119.23% year-over-year decrease [3][4]. - In 2021, the company achieved record revenues of 10.169 billion yuan, a 211.43% increase from the previous year, and a net profit of 4.92 billion yuan, reflecting a 193.33% growth [3]. - The company’s performance was heavily influenced by its COVID-19 testing products, which contributed significantly to its revenue during the pandemic [4]. Management Changes - The company has experienced a shift in its management team, with two board members resigning within a month, raising questions about leadership stability [1]. Business Expansion and Strategy - Oriental Bio is actively expanding its business, particularly in the U.S. market, through acquisitions and the establishment of production bases for chronic disease monitoring and animal diagnostics [5][6]. - The company has diversified its portfolio by adding an animal vaccine business, aiming to create a dual-track business model that includes both human and animal health [5]. Legal Challenges - The company is currently facing a significant lawsuit in the U.S., with claims exceeding 1 billion USD related to alleged contract violations, which could impact its financial stability [6]. Shareholder Actions - In response to ongoing losses and to bolster market confidence, Oriental Bio initiated a share buyback program, committing to repurchase shares worth between 25 million and 50 million yuan [7].

9月12日，浩欧博涨5.46%，截至发稿，报154.50元/股，成交2.06亿元，换手率2.23%，总市值98.08亿 元。浩欧博股价已经连续4天上涨，区间累计涨幅12.93%。 资料显示，江苏浩欧博生物医药股份有限公司位于苏州工业园区东堰里路9号，成立日期2009年6月8 日，上市日期2021年1月13日，公司主营业务涉及从事体外诊断试剂的研发、生产和销售。主营业务收 入构成为：试剂销售89.46%，其他销售5.86%，仪器销售3.84%，租赁销售0.85%。 从基金十大重仓股角度 截至发稿，李玉良累计任职时间10年193天，现任基金资产总规模3940.75万元，任职期间最佳基金回报 178.86%， 任职期间最差基金回报-86.55%。 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。 责任编辑：小浪快报 数据显示，诺安基金旗下1只基金重仓浩欧博。诺安景鑫混合（002145）二季度持有股数1.71万股，占 基金净值比例为5.9%，位居第三大重仓股。根据测算，今日浮盈赚取 ...

Company Overview - Shanghai TuoJing Life Technology Co., Ltd. is located at 412 Huiqing Road, Pudong New District, Shanghai, established on November 6, 2003, and listed on April 21, 2017. The company specializes in the research, production, and sales of in vitro diagnostic products under its own brand [1]. Business Performance - The main revenue composition of the company includes: 92.50% from reagent sales, 6.20% from instrument sales, 1.26% from services, and 0.04% from materials [1]. - As of September 12, the stock price increased by 5.03%, reaching 26.08 CNY per share, with a trading volume of 221 million CNY and a turnover rate of 6.43%, resulting in a total market capitalization of 4.239 billion CNY [1]. Shareholder Information - CITIC Prudential Fund has a fund that entered the top ten circulating shareholders of TuoJing Life, specifically the CITIC Prudential Multi-Strategy Mixed (LOF) A (165531), which acquired 1.2039 million shares, accounting for 0.87% of circulating shares. The estimated floating profit today is approximately 1.5049 million CNY [2]. - The fund was established on June 16, 2017, with a latest scale of 1.245 billion CNY. Year-to-date returns are 40.07%, ranking 1467 out of 8174 in its category; the one-year return is 77.36%, ranking 1081 out of 7981; and since inception, the return is 137.18% [2]. Fund Management - The fund managers of CITIC Prudential Multi-Strategy Mixed (LOF) A are Jiang Feng and Wang Ying. Jiang Feng has a cumulative tenure of 5 years and 153 days, with a total fund asset size of 5.782 billion CNY, achieving a best fund return of 125.39% and a worst return of 2.45% during his tenure [3]. - Wang Ying has a cumulative tenure of 8 years and 211 days, managing a total fund asset size of 3.835 billion CNY, with a best fund return of 49.08% and a worst return of -8.42% during her tenure [3].