天眼查App显示，近日，江西元壤生物科技有限公司成立，法定代表人为钟雅杰，注册资本1000万人民 币，经营范围为许可项目：肥料生产（依法须经批准的项目，经相关部门批准后在许可有效期内方可开 展经营活动，具体经营项目和许可期限以相关部门批准文件或许可证件为准）一般项目：复合微生物肥 料研发，生物有机肥料研发，肥料销售，土壤与肥料的复混加工，化肥销售，货物进出口，技术服务、 技术开发、技术咨询、技术交流、技术转让、技术推广，农林废物资源化无害化利用技术研发，农林牧 渔业废弃物综合利用，畜禽粪污处理利用，农业科学研究和试验发展，农业面源和重金属污染防治技术 服务，土壤污染治理与修复服务，园林绿化工程施工，生物化工产品技术研发（除依法须经批准的项目 外，凭营业执照依法自主开展经营活动）。 ...

Core Viewpoint - Recently, a new company named Bailu Biotechnology (Jiangxi) Co., Ltd. was established, focusing on the production of sanitary products and disposable medical supplies, along with various other services and sales [1] Company Overview - The legal representative of the company is Zhang Li, with a registered capital of 100,000 RMB [1] - The company is involved in a wide range of activities including the production of sanitary and disposable medical products, retail of pharmaceuticals, and sales of disinfecting equipment [1] Business Scope - The licensed projects include the production of sanitary products and disposable medical supplies, pharmaceutical retail, and sales of disinfecting equipment, which require approval from relevant authorities [1] - General projects encompass technology services, development, consulting, and promotion, as well as internet sales of non-licensed goods [1] - The company also engages in the sale of personal hygiene products, daily necessities, and health consulting services, excluding diagnostic services [1] Product Categories - The company is involved in the manufacturing and wholesale of personal protective equipment for healthcare workers, as well as the sale of first-class medical devices and health foods [1] - Additionally, it includes the production and sale of adult products, excluding pharmaceuticals and medical devices [1]

Industry Rating - The report rates the pharmaceutical industry as "Leading" [1] Core Insights - There is a divergence between domestic and foreign capital in the pharmaceutical sector, with a focus on timing and selecting undervalued quality stocks in the innovative drug supply chain [1][4] - The report suggests that after a broad rally in innovative drugs, the importance of timing and stock selection has significantly increased, recommending gradual positioning during market corrections [4] Market Performance - The Hang Seng Index rose by 1.9% during the week of September 9-16, 2025, while the Hang Seng Healthcare Index fell by 3.0%, ranking 12th among 12 industry indices [4][8] - Sub-industry performance varied, with hospitals (+27.1%) and medical devices (+6.8%) showing gains, while biopharmaceuticals (-2.2%) and internet medicine (-3.5%) declined [4][8] Institutional Holdings - As of September 16, 2025, domestic capital's holding ratio through Hong Kong Stock Connect remained stable at 22.1%, while foreign capital's holding ratio decreased to 38.4% [33][38] - Domestic investors have been increasing their positions in leading and innovative drug companies, while foreign investors have shown a preference for CXO companies with better cost-performance ratios [4][38] Valuation Overview - The report provides a valuation summary for various companies, with target prices and ratings indicating a generally bullish outlook on innovative drug companies [3] - The average price-to-earnings ratio (P/E) for the pharmaceutical sector is noted, with specific segments like prescription drugs at 31.4 times and biopharmaceuticals at 14.2 times [17] Regulatory Developments - The National Medical Products Administration (NMPA) announced a fast-track review process for innovative drug clinical trial applications, aiming to streamline approvals for certain categories of drugs [7] - The report discusses the latest draft of the national centralized drug procurement rules, highlighting systematic optimizations in bidding mechanisms and quality assurance requirements [6][7]

Group 1 - The U.S. sanctions target key sectors such as semiconductors, biotechnology, and aerospace, claiming national security concerns while aiming to curb China's technological rise [1] - The sanctions disrupt normal operations of Chinese companies and significantly disturb global supply chain stability [1] - The timing of the sanctions coincides with upcoming U.S.-China negotiations, indicating a strategy to pressure China into concessions during talks [1] Group 2 - The upcoming negotiations in Madrid appear to focus on tariffs, technology restrictions, and cross-border data flow, but the underlying dynamics are more complex [1] - The U.S. aims not only to reduce trade deficits but also to comprehensively hinder the development of China's high-tech industries through tariff policies [1]

Market Performance - The three major A-share indices collectively rose on Wednesday, with the Shanghai Composite Index up 0.37% closing at 3876.34 points, the Shenzhen Component Index up 1.16% closing at 13215.46 points, and the ChiNext Index up 1.95% closing at 3147.35 points [1] - The total trading volume in the Shanghai and Shenzhen markets reached 23,767 billion yuan, a slight increase of 353 billion yuan compared to Tuesday [1] - Over 2,500 stocks rose, with 80 stocks hitting the daily limit [1] Hong Kong Market Dynamics - The Hong Kong stock market has shown signs of significant upward momentum, particularly following the increasing expectations of a Federal Reserve interest rate cut [1] - Despite lagging behind other major global capital markets this year, the Hong Kong market is now exhibiting a trend of catching up with A-shares [1] - The anticipated Federal Reserve rate cut is expected to lead to a return of overseas liquidity, presenting new opportunities for Chinese assets [1] Capital Flow and Investment Opportunities - Southbound capital has consistently net flowed into the Hong Kong market this year, providing strong financial support [1] - The enhanced expectations of a Federal Reserve rate cut are prompting global capital to reallocate assets, with the undervaluation of Hong Kong stocks attracting international capital [1] - The combined force of domestic and foreign capital is a significant driver of the recent rise in the Hong Kong market [1] Investment Focus Areas - Investors should closely monitor two core variables: the specific progress of the Federal Reserve's interest rate cuts and the subsequent domestic policy responses [2] - Growth sectors such as biotechnology and technology hardware may offer higher elasticity due to liquidity easing and increased risk appetite [2] - Local dividend sectors benefiting from Hong Kong's interest rate cuts, along with sectors closely tied to China's economic recovery, such as consumption and infrastructure, are also expected to present investment opportunities [2] Market Trends and Future Outlook - The market still has potential for further upward movement as long as the 5-day moving average remains intact [2] - Trading volume is crucial for the strength of future market performance; recent trading volumes have not yet reached the 24 trillion yuan level needed to support continuous index rises [2] - The market is maintaining a healthy rotation of hot sectors, with robotics, semiconductors, AI computing power, and batteries showing repeated activity [2]

（文章来源：央视新闻） 据中国科学院深圳先进技术研究院消息，该研究院联合东华大学科研团队，历经5年多协同攻关，成功 研发出如头发丝般纤细、柔软可拉伸、可自由驱动的神经纤维电极"神经蠕虫"（NeuroWorm）。这项技 术标志着生物电子接口（脑机接口、人机接口）从静态走向动态、从被动记录走向主动智能探测的范式 转变。该研究成果北京时间9月17日在国际学术期刊《自然》发表。 ...

9月17日，陈茂波出席中信建投证券2025全球投资者大会并发表演讲。 陈茂波表示，当前全球经济正经历一场由数字技术驱动的深度转型。人工智能、生物科技等颠覆性创新，正在重塑产业 格局和价值创造模式。无论是发达经济体还是新兴市场，都正在全力探索如何更深入运用人工智能，提升效能、开发新 产品、开拓新市场。它已成为不同经济体与企业核心竞争力的关键所在。 陈茂波表示，在这一历史性进程中，香港国际金融中心展现出强劲的发展韧性和创新活力。我们不仅积极参与科技变 革，更致力于推动它的高效商业转化和产业群聚。可以说，今天的香港，正通过科技与金融的深度结合，展现出更丰富 的经济内涵、更强大的发展动能。 他从以下三个维度做了进一步阐述： "新经济公司数目占在港上市公司约15%，但它们占港股总市值约28%，贡献了30%的交投额；与五年前相比，交投额 的占比上升了八个百分点"。 今日，香港财政司司长陈茂波在中信建投2025全球投资者大会上演讲称，香港市场结构转型，新经济已成为发展的核心 动力。事实上，科技与金融已成为香港经济增长的两大驱动力，这一点已清晰反映在港股的结构上。 中信建投证券董事长刘成表示，香港金融市场大有可为，中资券商依 ...

香港财政司司长陈茂波：科技与金融已成香港经济增长两大驱动力 中新网香港9月17日电 香港特区政府财政司司长陈茂波17日在香港出席中信建投证券2025年全球投资者 大会并致辞。他表示，科技与金融已成为香港经济增长的两大驱动力。 陈茂波称，目前新经济公司数目占在港上市公司约15%，占港股总市值约28%，贡献30%交投额；与五 年前相比，交投额的占比上升8%，这些数据显示新经济板块已成为市场流动性的重要支撑。 来源：中国新闻网 编辑：付健青 广告等商务合作，请点击这里 本文为转载内容，授权事宜请联系原著作权人 9月17日，香港特区政府财政司司长陈茂波在香港出席中信建投证券2025年全球投资者大会并致 辞。(香港特区政府新闻处供图) 他说，新经济板块以生物科技领域发展尤其活跃。自2018年上市制度改革以来，生物科技企业在香港融 资超过2300亿港元，香港成为亚洲第一、全球第二的生物科技融资中心。今年以来，恒生生物科技指数 也累计上升超过80%，反映香港股票市场的内涵正紧密对接全球价值链的最前沿。 陈茂波称，香港特区政府近年已投入超过2500亿港元推动创科发展，重点布局人工智能、生物科技、金 融科技、新材料、新能源等领 ...

格隆汇9月17日｜ST宁科（维权）公告，因宁夏中科生物科技股份有限公司收到石嘴山市中级人民法院 送达的《民事裁定书》及《决定书》，裁定受理公司重整，并指定公司临时管理人担任管理人。根据 《上海证券交易所股票上市规则》第9.4.1条第(九)项的规定，公司股票将被实施退市风险警示。公司股 票自2025年9月18日开市起停牌一天，将于2025年9月19日开市起复牌，公司股票简称将变更为"*ST宁 科"。 ...

Core Viewpoint - The article discusses investment opportunities in ETFs focusing on new economy sectors and national defense, highlighting the potential for growth driven by government policies and increased defense spending [3][5][6]. Group 1: New Economy ETF - The New Economy ETF (159822.SZ) aims to capitalize on China's focus on developing new productive forces and promoting technological innovation, as outlined in the 2025 government work report [3]. - This ETF indirectly tracks the S&P China New Economy Industry Index through full holdings in the ICBC South China S&P New Economy Industry ETF (3167.HK), covering leading companies in AI, internet, biotechnology, and innovative pharmaceuticals [3][4]. - The ETF is positioned to benefit from the ongoing industrial upgrade in China, which is characterized by the emergence of new growth drivers and the rejuvenation of traditional sectors [3]. Group 2: National Defense ETF - The National Defense ETF (512670.SH) is linked to China's increasing defense budget, which reached 1.81 trillion yuan in 2025, marking a 7.2% year-on-year increase, although still below 1.3% of GDP [5][6]. - The ETF tracks the CSI National Defense Index, focusing on core areas such as aviation equipment, missiles, and new materials, which are expected to benefit from improvements in the national defense sector [6]. - The article notes that the defense budget is anticipated to rise further as China approaches its 2027 military centenary goal, suggesting a positive outlook for the defense technology industry [5][6].