本文源自：金融界 作者：智投君 8月22日，沪深两融数据显示，港股医药(513200)获融资买入额0.33亿元，居两市第839位，当日融资偿 还额0.32亿元，净买入29.85万元。 最近三个交易日，20日-22日，港股医药(513200)分别获融资买入0.25亿元、0.28亿元、0.33亿元。 融券方面，当日融券卖出0.00万股，净卖出0.00万股。 ...

融券方面，当日融券卖出0.00万股，净卖出0.00万股。 本文源自：金融界 作者：智投君 8月22日，沪深两融数据显示，香港医药(513700)获融资买入额0.26亿元，居两市第972位，当日融资偿 还额0.23亿元，净买入217.23万元。 最近三个交易日，20日-22日，香港医药(513700)分别获融资买入0.24亿元、0.32亿元、0.26亿元。 ...

Core Viewpoint - The article emphasizes the achievements in market regulation during the "14th Five-Year Plan" period, highlighting the continuous expansion and improvement of China's large-scale market, the enhancement of market systems, and the maturation of market rules [2][3]. Market Expansion and Regulation - The national market regulation system has focused on balancing regulation and development, creating a more vibrant and fair market environment to support high-quality economic and social development [2]. - The "14th Five-Year Plan" has seen significant efforts to eliminate local protectionism and prevent market monopolies, thereby maintaining a unified national market [3]. Legal and Regulatory Framework - The enforcement of anti-monopoly laws has been strengthened, including the first major revision of the Anti-Monopoly Law in 15 years and the third revision of the Anti-Unfair Competition Law, which elevates competition policy to a legal status [3]. - A comprehensive review mechanism for fair competition has been established, reviewing 42,200 important policy measures and suggesting modifications for 11,400 of them to prevent policies detrimental to the unified national market [4]. Market Entry and Exit - The number of individual businesses has increased by 33.946 million during the "14th Five-Year Plan," with a total of 19.999 million new enterprises established [6]. - The process for business registration and exit has been streamlined, allowing businesses to complete deregistration in as little as 21 days under simplified procedures [7]. Consumer Protection and Quality Control - The national market supervision has handled 89.028 million complaints, recovering economic losses of 21.71 billion yuan for consumers [4]. - The quality of food and industrial products has been maintained at a high level, with strict regulations and monitoring in place to ensure safety and compliance [8][9]. Future Directions - The "15th Five-Year Plan" will continue to advance the construction of a unified national market, with a focus on eliminating local protection and market segmentation [5].

Group 1 - The overall A-share market has risen since the beginning of 2024, with growth style performing relatively strong while value style has been weaker [3][4] - From early 2024 to August 21, 2025, the CSI All Share Index saw a maximum increase of 56.98%, while the CSI 300 Value Index had a maximum increase of 45.13%, and the ChiNext Index reached a maximum increase of 82.16% [4] - The current market uptrend is similar to the period from 2013 to 2017 [6] Group 2 - Between 2012 and 2014, A-shares experienced a bear market with a maximum drawdown of 39.24% due to poor fundamentals and declining corporate profits [7] - In the second half of 2014, financial stocks such as securities and insurance surged significantly, with the Securities Industry Total Return Index rising by 206.91% from July 1 to the end of 2014 [9] - In the first half of 2015, small-cap and growth styles saw substantial gains, with the CSI All Share Index rising from over 2000 points to over 8000 points [10][11] Group 3 - The second half of 2015 saw a significant market decline, with valuations quickly dropping to around 4 stars [16] - From 2015 to the end of 2018, the A-share market experienced a maximum drawdown of 55.78%, with small-cap stocks and growth stocks facing even larger declines [20] - The period from 2016 to 2017 saw a recovery in value and consumer stocks, leading to a slow bull market [21] Group 4 - The current market phase resembles the 2015-2016 period, with stimulus policies beginning to take effect and corporate fundamentals starting to recover [35] - If corporate fundamentals continue to improve, there is potential for further market growth, similar to past economic recovery phases [36] - The current market is rated at around 4 stars, indicating it is relatively inexpensive and still offers opportunities for stock asset allocation [37][40] Group 5 - The current bull market differs from the 2014-2015 bull market in that there is stricter control over leveraged investments and the real estate sector remains in a bear market [32][33] - The main drivers of the recent market uptrend have been financial stocks, with the Securities Industry Total Return Index achieving a maximum increase of 80.43% from June 3, 2024, to the end of 2024 [28] - By 2025, small-cap and technology stocks are expected to take over as the main growth drivers, while value and consumer stocks may remain relatively subdued [29]

Investment Rating - The report maintains a rating of "Add" for Jiangzhong Pharmaceutical [4] Core Views - The company demonstrates strong resilience in performance, with its health business stabilizing and recovering after restructuring [2] - Jiangzhong Pharmaceutical continues its tradition of high dividends, highlighting its long-term investment value [3] - The company is focused on expanding its product categories and enhancing channel strength, which is expected to drive revenue growth [3] Financial Summary - For 2023A, the company reported revenue of 4,553 million yuan, with a year-on-year growth rate of 17.2%. The projected revenue for 2025E is 4,287 million yuan, reflecting a decline of 3.4% [1] - The net profit attributable to the parent company for 2023A is 719 million yuan, with a year-on-year growth rate of 20.1%. The projected net profit for 2025E is 868 million yuan, indicating a growth of 10.2% [1] - The company plans to distribute a cash dividend of 0.50 yuan per share, which accounts for 60.78% of the net profit for the first half of 2025 [3] Strategic Positioning - Jiangzhong Pharmaceutical's strategy includes strengthening its OTC business, developing health consumer products, and expanding its prescription drug offerings [2] - The company aims to enhance its product matrix through brand integration and digital marketing, while also exploring high-quality resource integration and business development partnerships [2] - The company has a talent incentive mechanism in place, with over 50% of its research personnel benefiting from equity incentives, which is expected to stimulate innovation [2]

Group 1 - The report tracks stocks, industries, and sectors that are reaching new highs, serving as market indicators and highlighting the effectiveness of momentum and trend-following strategies [1][4][24] - As of August 22, 2025, the Shanghai Composite Index, Shenzhen Component Index, CSI 300, CSI 500, CSI 1000, CSI 2000, ChiNext Index, and Sci-Tech 50 Index all have a distance to their 250-day highs of 0.00%, indicating they are at their recent peaks [5][24] - Among the CITIC first-level industry indices, home appliances, defense and military, comprehensive, media, and computer industries are closest to their 250-day highs, while food and beverage, coal, real estate, banking, and consumer services are further away [8][24] Group 2 - A total of 1,606 stocks reached 250-day highs in the past 20 trading days, with the most significant numbers in the machinery, pharmaceuticals, and electronics sectors [2][13][24] - The highest proportion of new high stocks is found in the defense and military, non-ferrous metals, and pharmaceuticals industries, with respective proportions of 52.94%, 51.61%, and 44.88% [13][16] - The manufacturing and technology sectors have the most stocks reaching new highs this week, with respective counts of 512 and 403 [16][24] Group 3 - The report identifies 48 stocks that have shown stable new highs, with the technology and manufacturing sectors contributing the most, having 22 and 12 stocks respectively [3][21][25] - Within the technology sector, the electronics industry has the highest number of new high stocks, while the automotive industry leads in the manufacturing sector [21][25]

证券代码：300937 证券简称：药易购 2025 年 8 月 21 日投资者关系活动记录表 编号：2025-003 | | 特定对象调研 □分析师会议 ☑ | | --- | --- | | 投资者关系活动 | □媒体采访 □业绩说明会 | | 类别 | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 | | 参与单位名称及 | 国信证券分析师：彭思宇、张超 | | 人员姓名 | | | 时间 | 2025 年 8 月 21 日 10:00-12:00 | | 地点 | 成都市温江区金府路中段 51 号 | | 上市公司接待人 | 公司副总经理兼董事会秘书：王明怡（线上参加） | | 员姓名 | 公司证券事务代表：梁椿季 | | | 公司投资者关系助理：温嘉欣 | | | 四川合纵药易购医药股份有限公司（简称"公司"或"药 | | | 易购"）于 2025 年 8 月 21 日接受特定对象实地调研交流，调 | | | 研的主要问题及回复情况如下： | | 投资者关系活动 | 1、公司后续战略规划情况 | | 主要内容介绍 | 回复：公司始终坚定院外市场与医药产业互联网发展道路， | | ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 窦茜茜自今年6月出任公司代董事会秘书后，此次正式担任董事会秘书，标志着其履职获得高层肯定。 根据2024年年报披露，窦茜茜就任副总经理的岗位薪酬2024薪酬为48万元，居管理层并列第一，体现了 董事会对其履职价值的认可。 窦茜茜历任山东福瑞达医药集团有限公司科技发展部副部长、项目拓展部部长、总经理助理，2023年10 月开始就任鲁商福瑞达医药股份有限公司副总经理。 值得注意的是，与董秘薪酬大幅增长形成鲜明对比的是，公司董事长却选择主动大幅降低年薪。根据年 报披露，其年薪从2023年的约110万元降至仅约4.96万元，显现出管理层在面对公司业绩承压或战略调 整时的责任担当，意在向市场和投资者传递管理层与股东利益同向的信号。 从公司整体概况来看，福瑞达作为"鲁商福瑞达医药股份有限公司"主导，大健康产业为发展核心，旗下 化妆品、医药及原料衍生板块构筑多元业务布局。 文/新浪财经上海站 陈秀颖 今日，福瑞达（代码：600223）迎来人事变动新进展：窦茜茜从"代董秘"晋升为正式董事会秘书。 2024年，福瑞达营业收入约39.83亿元，同比下降约1 ...

"十四五"以来，全国市场监管部门完善涉企收费监管制度，持续降低经营主体成本。加强知识产权和商业秘密保护，有效增强了经营主体的创新动力。数据显 示，"十四五"以来，我国企业净增1999.9万户，个体工商户净增3394.6万户。 市场监管总局局长罗文表示，"十四五"时期，推动出台《公平竞争审查条例》，对规制招商引资"恶性竞争"、违规财政奖补和限制企业迁移等问题形成了刚性制度 约束。持续开展制止滥用行政权力排除、限制竞争专项执法，发现和废除了阻碍要素流动的政策措施4218件，查处行政性垄断案件239件，及时纠治了地方保护、 市场分割等突出问题。 推动修订《公司法》《反垄断法》《反不正当竞争法》《广告法》以及计量、标准、认证认可、消费者权益保护等领域一批行政法规。"整个'十四五'期间，全国市 场监管部门共处理投诉举报8902.8万件，为消费者挽回经济损失217.1亿元；全国消协组织共受理消费者投诉574.9万件，挽回经济损失57.8亿元。"市场监管总局副 局长柳军表示。 服务企业办事更加高效。推动开办餐饮店、企业信息变更、企业迁移登记、"个转企"等"高效办成一件事"。罗文介绍，开办餐饮店时间由过去的37天减少至现在的 ...

人民财讯8月22日电，开开实业（600272）8月22日晚间披露2025年半年度报告，上半年实现营业收入 5.43亿元，同比增长10.95%；归母净利润1180.1万元，同比下降61.94%；基本每股收益0.049元。报告期 内，公司"大健康"战略转型的逐步深入，医药板块营业收入稳步增长，其中SPD项目实现营业收入约2.9 亿元，同比增长52%。归属于上市公司股东的净利润较上年同期减少，主要系公司上年同期确认房屋征 收补偿收益2843.93万元，影响归属于上市公司所有者的净利润2132.93万元，本期无同类补偿款项。 ...