交银医药创新股票A（004075）成立日期2017年3月23日，最新规模19亿。今年以来收益0.08%，同类排 名5014/5572；近一年收益19.93%，同类排名3002/4311；成立以来收益160.4%。 2月26日，毕得医药跌1.67%，截至发稿，报57.78元/股，成交4981.73万元，换手率1.99%，总市值52.51 亿元。毕得医药股价已经连续5天下跌，区间累计跌幅5.76%。 资料显示，上海毕得医药科技股份有限公司位于上海市杨浦区翔殷路999号3幢6层，成立日期2007年4月 27日，上市日期2022年10月11日，公司主营业务涉及聚焦于新药研发产业链前端,依托药物分子砌块的 研发设计、生产及销售等核心业务,能够为新药研发机构提供结构新颖、功能多样的药物分子砌块及科 学试剂等产品。主营业务收入构成为：分子砌块杂环化合物43.26%，分子砌块苯环化合物23.32%，分 子砌块脂肪族类化合物16.36%，催化剂和配体10.57%，生命科学试剂6.49%。 从毕得医药十大流通股东角度 数据显示，交银施罗德基金旗下1只基金位居毕得医药十大流通股东。交银医药创新股票A（004075） 三季度新进十大 ...

Group 1 - The core point of the news is that Sangfor Technologies experienced a decline of 5.04% in its stock price, reaching 64.94 CNY per share, with a trading volume of 350 million CNY and a turnover rate of 0.85%, resulting in a total market capitalization of 40.054 billion CNY [1] - Sangfor Technologies, established on January 25, 2002, and listed on July 22, 2020, is primarily engaged in the research, production, and sales of antibody drugs [1] - The company's revenue composition includes 75.24% from product sales, 15.37% from commissioned processing services, 7.94% from licensing services, and 1.44% from leasing services [1] Group 2 - According to data from the top ten holdings of funds, one fund under Jiao Yin Schroder has a significant position in Sangfor Technologies, with the Jiao Yin Medical Innovation Stock A fund increasing its holdings by 210,300 shares to a total of 1.7945 million shares, representing 3.74% of the fund's net value, making it the eighth largest holding [2] - The Jiao Yin Medical Innovation Stock A fund, established on March 23, 2017, has a current size of 2.651 billion CNY and has achieved a year-to-date return of 32.13%, ranking 1165 out of 4206 in its category [2] - The fund manager, Lou Huiyuan, has been in position for 7 years and 79 days, with the fund's total assets amounting to 4.333 billion CNY, achieving a best return of 143.65% and a worst return of -21.86% during his tenure [2]

Core Viewpoint - Sangfor Technologies experienced a 5.16% decline in stock price, closing at 53.89 CNY per share, with a trading volume of 2.27 billion CNY and a turnover rate of 0.66%, resulting in a total market capitalization of 33.239 billion CNY [1] Company Overview - Sangfor Technologies was established on January 25, 2002, and went public on July 22, 2020. The company is located in the China (Shanghai) Free Trade Zone [1] - The main business activities of Sangfor Technologies include the research, production, and sales of antibody drugs. The revenue composition is as follows: 75.24% from product sales, 15.37% from commissioned processing services, 7.94% from licensing services, and 1.44% from leasing services [1] Fund Holdings - According to data from the top ten holdings of funds, one fund under Jiao Yin Schroder has a significant position in Sangfor Technologies. The Jiao Yin Medical Innovation Stock A (004075) reduced its holdings by 786,100 shares in the second quarter, retaining 1,584,300 shares, which accounts for 3.31% of the fund's net value, ranking as the tenth largest holding [2] - The Jiao Yin Medical Innovation Stock A (004075) was established on March 23, 2017, with a current scale of 2.5 billion CNY. Year-to-date returns are 42.95%, ranking 1149 out of 4221 in its category; the one-year return is 30.68%, ranking 1720 out of 3848; and since inception, the return is 206.28% [2] - The fund manager of Jiao Yin Medical Innovation Stock A is Lou Huiyuan, who has been in the position for 7 years and 30 days. The total asset size of the fund is 4.04 billion CNY, with the best return during the tenure being 167.44% and the worst being -15.88% [2]

Core Viewpoint - The announcement details the second dividend distribution for the year 2025 by the China Merchants Jinling Fund Management Co., Ltd. for its medical innovation equity fund, highlighting the distribution plan and relevant dates [1] Summary by Relevant Sections Dividend Distribution Details - The dividend distribution is based on the record date of September 9, 2025, with specific amounts allocated for different fund classes: - For the "交银医药创新股票A" fund (code: 004075), the net asset value is 2.85 yuan, and the dividend per 10 shares is 1.14 yuan - For the "交银医药创新股票C" fund (code: 014046), the net asset value is 2.93 yuan, with no specific dividend amount mentioned [1] Key Dates - The record date for shareholders to be eligible for the dividend is September 24, 2025 - The cash dividend payment date is set for September 26, 2025 - Shareholders opting for reinvestment will have their dividends converted into fund shares based on the net asset value after the ex-dividend date, with the reinvested shares available for inquiry and redemption starting September 26, 2025 [1] Tax and Fees - According to regulations from the Ministry of Finance and the State Administration of Taxation, the fund's income distributed to shareholders is temporarily exempt from income tax - There are no fees for the dividend distribution, and shareholders choosing reinvestment will also be exempt from subscription fees for the reinvested shares [1]

Core Insights - Sangfor Technologies saw a 5.25% increase in stock price, reaching 57.99 CNY per share, with a trading volume of 444 million CNY and a turnover rate of 1.30%, resulting in a total market capitalization of 35.767 billion CNY [1] Company Overview - Sangfor Technologies was established on January 25, 2002, and went public on July 22, 2020. The company is located in the China (Shanghai) Free Trade Zone [1] - The main business activities of Sangfor Technologies include research, production, and sales of antibody drugs. The revenue composition is as follows: 75.24% from product sales, 15.37% from commissioned processing services, 7.94% from licensing services, and 1.44% from leasing services [1] Fund Holdings - According to data from the top ten holdings of funds, one fund under Jiao Yin Schroder has a significant position in Sangfor Technologies. The Jiao Yin Medical Innovation Stock A (004075) reduced its holdings by 786,100 shares, retaining 1,584,300 shares, which accounts for 3.31% of the fund's net value, ranking it as the tenth largest holding [2] - The Jiao Yin Medical Innovation Stock A (004075) was established on March 23, 2017, with a latest scale of 2.5 billion CNY. Year-to-date returns are 40.18%, ranking 359 out of 4222 in its category; over the past year, returns are 46.72%, ranking 1679 out of 3795; since inception, returns have reached 200.36% [2] - The fund manager, Lou Huiyuan, has been in the position for 6 years and 361 days, with total assets under management of 4.04 billion CNY. The best fund return during this period is 160.35%, while the worst is -21.93% [2]

Core Viewpoint - The article emphasizes that the current valuation of the China Medical Index (中证医疗) is at historically low levels, making it an opportune time for regular investment by ordinary investors [1]. Group 1: Market Analysis - The China Medical Index has experienced a significant adjustment period, with a peak in June 2015 and a low point at the end of 2018, followed by a recovery until the end of 2021, and has now been in a correction phase for approximately two years [5]. - The current adjustment has reached about 60% of its potential, indicating that the market may be nearing a bottom, although the duration of the adjustment is uncertain [5]. - A longer adjustment period is seen as beneficial for regular investors, as it allows for the accumulation of shares at lower prices, potentially leading to greater future gains [5]. Group 2: Investment Strategy - Ordinary investors are advised to focus on the Price-to-Book (PB) ratio for the China Medical Index, with a recommendation to start regular investments when the PB is below 20% [9]. - For more aggressive investors, a threshold of 25% to 30% is suggested for initiating investments [9]. - The article lists several actively managed medical-related funds that have been established for over six years and have a scale of over 500 million, highlighting their respective returns, with the top performer achieving a return of 178.62% since May 2017 [11]. Group 3: Fund Selection - The article provides a table of selected funds, showing their total returns and annualized returns over a period of approximately 6.2 years, with the best-performing fund yielding an annualized return of 18.00% [11]. - It emphasizes that despite current low valuations, all listed funds have positive long-term returns, suggesting that the issue lies more with the timing of investments rather than the funds themselves [12]. - The article advises investors to consider funds that have survived through market cycles and have demonstrated resilience [12].