具体来说，购买定制款CGM的用户，可免费预约京东护士到家提供专业佩戴指导，服务覆盖47个核心 城市，最快1小时上门响应。依托京东互联网医院的三甲医生资源，用户还能在线获取个性化控糖方 案，结合营养师定制的饮食运动建议，形成"监测-分析-干预-跟踪"的一站式服务体系。 此外，供应链的高效协同是"双十一"保障消费体验的关键。京东健康与鱼跃医疗提前数月启动备战"双 十一"，基于历史销售数据、市场趋势与营销计划进行智能预测，将商品前置到全国核心仓储节点。借 助京东覆盖全国的物流网络与智能分仓能力，鱼跃制氧机、血压计、CGM等爆款产品实现绝大部分地 区当日或次日达。 值得一提的是，鱼跃全球产业化基地生产的产品，通过地下无人物流通道直达智能仓库，再由京东物流 快速配送至消费者手中，全链路高效流转，既保障了发货时效，也确保了产品运输安全。 "京东健康平台用户对品质和专业性的要求非常高，这与鱼跃的品牌理念高度契合。"于才皓表示，鱼跃 在京东平台推出的多款监测类产品，既是企业洞察市场后自主研发的成果，也借助平台的流量与服务能 力更快地被用户了解和接受。未来，公司希望与京东健康一起，推动数字化健康管理设备向数字疗法方 向发展。 ...

Investment Rating - The industry investment rating is "Outperform the Market" (预计6个月内，行业指数表现强于市场表现5%以上) [31] Core Insights - The acquisition of Crown Bioscience International by the report's subject company,艾迪康, for a base consideration of $204 million (approximately 1.48 billion RMB), marks a strategic shift from clinical testing services to drug development, aligning with the trend of collaborative development in precision medicine [3][13] - The report emphasizes the importance of CROs possessing translational medicine capabilities to facilitate the rapid transition from preclinical biomarkers to clinical trials and diagnostic processes [3] Summary by Sections Industry Overview -艾迪康 announced the acquisition of Crown Bioscience International, a global CRO focused on oncology and immuno-oncology drug discovery and development, with the transaction expected to complete by mid-2026 [3] Investment Strategy - The report suggests focusing on innovative pharmaceutical companies with rich pipeline layouts, such as 恒瑞医药, 百济神州, and 中国生物制药, as well as companies with significant single-product potential like 一品红 and 三生制药 [5] - It also highlights the importance of companies with leading positions in cutting-edge technology platforms, such as 东诚药业 and 远大医药, and suggests monitoring the CXO sector for stable growth in R&D investment [5] Market Performance - The pharmaceutical sector saw a 3.29% increase last week, ranking 4th among 28 industries, while the Hong Kong pharmaceutical sector rose by 6.80%, ranking 2nd among 11 industries [7][30] - The report notes that the valuation of the pharmaceutical sector is currently at 30.89 times (TTM), with a premium of 22.29% over the overall A-shares [23]

截至9月30日，春立医疗股东户数6164.00，较上期增加4.12%；人均流通股46906股，较上期减少 3.95%。2025年1月-9月，春立医疗实现营业收入7.56亿元，同比增长48.75%；归母净利润1.92亿元，同 比增长213.21%。 来源：新浪证券-红岸工作室 分红方面，春立医疗A股上市后累计派现3.59亿元。近三年，累计派现3.09亿元。 11月14日，春立医疗跌0.65%，成交额5915.60万元。两融数据显示，当日春立医疗获融资买入额603.75 万元，融资偿还917.39万元，融资净买入-313.64万元。截至11月14日，春立医疗融资融券余额合计 5655.23万元。 机构持仓方面，截止2025年9月30日，春立医疗十大流通股东中，香港中央结算有限公司位居第四大流 通股东，持股295.85万股，为新进股东。中欧景气精选混合A（020876）位居第五大流通股东，持股 283.26万股，为新进股东。平安低碳经济混合A（009878）位居第八大流通股东，持股210.00万股，相 比上期减少167.00万股。南方医药保健灵活配置混合A（000452）退出十大流通股东之列。 融资方面，春立医疗当 ...

德国财长访华强调"要对话"：世界上许多问题只有与中国合作才能解决。 德媒预计，克林拜尔也会按照惯例与中方讨论俄乌冲突等国际议题。 克林拜尔在上海的行程则侧重于参观西门子医疗的生产基地和研发中心。"此次访问意义重大，因为西门子几 天前刚刚宣布将出售其医疗技术部门的多数股权，以便将更多精力集中在其他业务领域。"《商报》称，"到目 前为止，中国市场对西门子医疗来说一直至关重要，这既因为其庞大的规模，也因为其非凡的创新速度。" 由于德国外交部长约翰·瓦德富尔在10月底推迟了对中国的访问，因此克林拜尔的行程备受关注。克林拜尔在 出访前向德新社重申访华的理由称："我们不应该只是谈论中国，而是要与中国对话。中国是重要的国际参与 者，世界上许多问题只有与中国合作才能解决。" 据德国广播电台16日报道，德国副总理兼财政部长拉尔斯·克林拜尔当天率领一个金融和商务代表团，从柏林 启程前往中国，在北京参加第四次中德高级别财金对话，随后访问上海。他也成为目前德国联邦政府中首位访 华的部长。德国《商报》指出，此次访问的意义重大，远不止于金融方面。 据悉，第四次中德高级别财金对话将于17日在北京举行，中共中央政治局委员、国务院副总理、中德 ...

核心观点 全球一次性手套价格已从2024 年探底回升，预计2026 年公司在国内生产的丁腈手套出厂价稳中有升。 此外，公司已启动全球供应链优化计划，通过建设海外生产基地覆盖主要市场，降低贸易摩擦风险、增 强风险抵御能力，公司海外产能逐步投放，带来新的业绩增长动力，并进一步巩固全球优势地位。若美 对中进一步加征关税，对公司的边际影响不大。中长期来看，全球一次性手套供需已达到新平衡，公司 一次性手套的成本、自动化程度、制作工艺都显著领先行业，未来公司的全球市占率有望进一步提升。 事件 公司发布2025 年三季报 公司2025年前三季度实现营收/归母净利润/扣非归母净利润74.25/9.24/4.84 亿元，同比+4.60%/+34.47%/ -19.32%。 25Q3 单季度，公司实现营收/归母净利润/扣非归母净利润25.11/2.14/0.84 亿元， 同 比-2.90%/+113.04%/-25.87% ， 环比+3.79%/-40.18%/-45.13%。 简评 25Q3 收入符合预期，扣非归母净利润低于预期2025 年三季度，公司实现营收/归母净利润/扣非归母净 利润25.11/2.14/0.84 亿元， ...

Group 1 - The Chinese innovative pharmaceutical industry has developed global competitiveness over the past decade, with collaborations from overseas MNCs validating the R&D capabilities of domestic companies, indicating a positive long-term industry trend [1] - There is a significant supply-demand mismatch in the self-medication drug sector, with only 9% market share for oral drugs for psoriasis in 2023, while 75% of patients have a demand for transitioning to oral therapies; it is expected that the share of oral drugs will increase to 33% by 2034 [1] - New molecular entities (NME) such as Tyk2 inhibitors are noteworthy due to their superior efficacy and safety [1] Group 2 - The medical device sector is showing signs of a turning point due to improved anti-corruption measures, optimized centralized procurement policies, and the availability of funding for equipment purchases, presenting opportunities for high-growth segments and companies in distress [1] - The CXO industry is benefiting from the overseas interest rate reduction cycle and the recovery of domestic innovative drugs, establishing a trend of bottom recovery with impressive profit performance [1] Group 3 - The Guotai Healthcare ETF (159377) tracks the innovative pharmaceutical index (399275), which saw a daily fluctuation of 20%; this index selects listed companies involved in biomedicine, medical devices, and related services from the ChiNext market to reflect the overall performance of the healthcare industry [1] - The innovative pharmaceutical index covers areas such as innovative drug R&D, biotechnology, and medical device manufacturing, highlighting the high growth potential and innovation capability of the healthcare industry in China [1]

Core Viewpoint - Recently, JianShi Technology (09877) has been awarded the "2025 Excellent Domestic Medical Device Consumables Selection" for its transcatheter aortic valve replacement system, highlighting its recognition in the medical device industry [1] Group 1: Product Features - The Ken-Valve transcatheter intervention replacement system is designed for severe aortic regurgitation (or combined stenosis), featuring an original design that adapts to a wide range of complex anatomical structures [1] - The device enhances operational safety and flexibility during procedures, significantly reducing instrument operation time, which has gained broad recognition from practitioners and the market [1] - The availability of large sizes (29mm, 31mm, and 33mm) addresses the treatment needs of patients with large annuli that are currently unmet in the market [1] Group 2: Market Position and Strategy - The device is also applicable for patients with complex anatomical challenges, such as those with extreme angulation [1] - The company is actively promoting the commercialization of this product, aiming to meet the urgent clinical needs of a wide range of underserved patients [1]

Core Viewpoint - Recently, JianShi Technology (09877) has received recognition for its transcatheter aortic valve replacement system, Ken-Valve, as a recommended product in the "2025 Yangtze River Delta Excellent Domestic Medical Equipment and Consumables Selection" for medical consumables [1] Group 1: Product Features - The Ken-Valve system is designed for severe aortic regurgitation (or combined stenosis) and features an original design that adapts to a wide range of complex anatomical structures [1] - The device enhances operational safety and flexibility during procedures, significantly reducing instrument operation time, which has gained broad recognition from practitioners and the market [1] - The availability of large sizes (29mm, 31mm, and 33mm) addresses the treatment needs of patients with large annuli that are currently unmet in the market [1] Group 2: Market Position and Strategy - The device is also applicable for patients with complex anatomical challenges, such as those with extreme angulation [1] - The company is actively promoting the commercialization of this product, aiming to meet the urgent clinical needs of a wide range of underserved patients [1]

周一（11月17日）早盘，A股医疗板块延续调整，龙头股普跌，药明康德、联影医疗、爱美客等齐跌超 1%，泰格医药、福瑞股份跌逾4%。 A股最大医疗ETF（512170）一度跌近2%创3个月新低，盘中失守半年线！与此同时，场内溢价持续走 阔，实时成交额逾4.9亿元超上日全天，综合来看，或有巨量资金逢跌进场。值得一提的是，此前 512170每每靠近半年线附近，往往吸引资金逆市"抄底"。 掘金医疗估值洼地，配置认准医疗ETF（512170）——最新规模超258亿元，是全市场规模最大的医药 医疗类ETF，极具行业代表性与风向标意义。聚焦"医疗器械+医疗服务"，CXO权重超26%，兼顾医 美、民营医院、医疗信息化等领域龙头。场外联接基金（A类 162412 / C类 012323）。 注：根据沪深交易所数据，截至 2025.11.10 ，医疗 ETF 规模 258 亿元，在全市场医药类 ETF 中规模最大 （ 1/50 ）。风险提示：医疗 ETF 及其联接基金被动跟踪中证医疗指数，该指数基日为 2004.12.31 ，发布 于 2014.10.31 。指数成份股构成根据该指数编制规则适时调整，其回测历史业绩不预示指数未来 ...

11月17日，英科医疗跌5.05%，截至发稿，报37.42元/股，成交3.21亿元，换手率1.81%，总市值245.02 亿元。 资料显示，英科医疗科技股份有限公司位于山东省淄博市临淄区齐鲁化学工业园清田路18号,香港湾仔 皇后大道东248号阳光中心40楼，成立日期2009年7月20日，上市日期2017年7月21日，公司主营业务涉 及涵盖个人防护、康复护理、其他产品三大板块。主营业务收入构成为：个人防护类91.47%，康复护 理类4.75%，其他产品3.77%。 财通医药健康混合A（018937）成立日期2024年3月27日，最新规模5047.05万。今年以来收益14.86%， 同类排名5206/8213；近一年收益13.41%，同类排名5016/8130；成立以来收益14.15%。 财通医药健康混合A（018937）基金经理为骆莹。 截至发稿，骆莹累计任职时间4年130天，现任基金资产总规模5857.42万元，任职期间最佳基金回报 13.92%， 任职期间最差基金回报-34.32%。 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 ...