据招股书，2023年-2024年，京新药业实现收入分别为40亿元、41.59亿元；年内溢利分别为6.23亿元、 7.19亿元。 2025年前10个月，公司实现收入为33.44亿元，同比减少2.74%；期内溢利为6.29亿元，同比增长 12.69%。 | | 截至12月31日止年度 | | 截至10月31日止十個月 | | | --- | --- | --- | --- | --- | | | 2023年 | 2024年 | 2024 年 | 2025年 | | | | | (未經審核) | | | | | (人民幣千元) | | | | 收入 | 3.998.835 | 4.158.551 | 3.438.388 | 3.344.144 | | 銷售成本 | (2,032,050) | (2,143,031) | (1,757,318) | (1,730,246) | | 毛利 | 1.966.785 | 2.015.520 | 1.681.070 | 1.613.898 | | 其他收入 | 118.741 | 184.443 | 143,423 | 89.798 | | 预期信貸虧損模式項下的 | | | ...

瑞财经 吴文婷2月25日，浙江京新药业股份有限公司（以下简称"京新药业"）在港交所递交招股书，中信证券为其独家保荐人。 京新药业是一家以创新为驱动力的制药集团，策略重点专注于两大核心疾病领域：中枢神经系统疾病；及心血管及脑血管疾病。 公司的商业模式将已上市产品的商业化与产品管线的持续推进相结合。当前产品组合涵盖药物(包括彷制药、创新药物、中药及生物制剂)；原料药；及医疗 设备。在这个既有的产品组合基础上，公司继续推进在研创新药物的研发。 据招股书，2023年-2024年，京新药业实现收入分别为40亿元、41.59亿元；年内溢利分别为6.23亿元、7.19亿元。 2025年前10个月，公司实现收入为33.44亿元，同比减少2.74%；期内溢利为6.29亿元，同比增长12.69%。 | | 截至12月31日止年度 | | 截至10月31日止十個月 | | | --- | --- | --- | --- | --- | | | 2023年 | 2024年 | 2024年 | 2025年 | | | | | (未經審核) | | | | | (人民幣千元) | | | | 收入 | 3.998.835 | 4.158 ...

Group 1 - The core viewpoint of the article is that Zhejiang Jingxin Pharmaceutical Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor [1] - Jingxin Pharmaceutical is characterized as an innovation-driven pharmaceutical group focusing on two main disease areas: central nervous system diseases and cardiovascular and cerebrovascular diseases [1] - The company's business model combines the commercialization of already listed products with the continuous advancement of its product pipeline [1] Group 2 - The current product portfolio includes drugs (such as generic drugs, innovative drugs, traditional Chinese medicine, and biological agents), active pharmaceutical ingredients, and medical devices [1]

根据合作协议，双方将结合英矽智能已验证的AI平台与AI赋能创新药研发能力，以及康哲药业经验丰 富的研发团队和对疾病领域的深度认知，共同推进不少于2个研发项目的合作开发。同时，英矽智能有 望就每个项目获得最高达数千万港元的研发费用支持。此次合作将充分发挥双方在药物研发、临床开发 及商业化全周期的协同优势，通过资源整合与技术互补，加速高潜力创新药物的研发与转化。英矽智能 将依托其Pharma.AI平台以及在靶点发现、小分子设计与优化等领域的技术能力，推动候选分子的高效 筛选与验证；康哲药业则凭借其在临床开发策略制定、注册申报路径规划、临床试验组织实施以及商业 化推广方面的丰富经验和成熟网络，推动项目从临床前过渡至临床及上市阶段。 近日，英矽智能发布公告称，与康哲药业控股有限公司在中枢神经系统及自身免疫疾病领域的多个项目 上达成一系列由AI赋能的创新药物研发合作。 ...

Core Viewpoint - The stock of Insilico Medicine (03696) has risen over 7%, reaching a new high of 72.55 HKD, driven by a collaboration announcement with Kanghong Pharmaceutical in AI-enabled drug development for central nervous system and autoimmune diseases [1] Group 1: Company Developments - Insilico Medicine and Kanghong Pharmaceutical have entered into a series of collaborative projects focused on AI-driven innovative drug development [1] - The collaboration will leverage Insilico's validated AI platform and drug development capabilities alongside Kanghong's experienced research team and deep understanding of disease areas [1] - Insilico is expected to receive up to tens of millions of HKD in research funding for each project [1] Group 2: Industry Insights - Morgan Stanley's previous report highlights Insilico Medicine as a leader in the AIDD (AI-Driven Drug Development) field, noting substantial progress in both technology validation and application [1] - The execution capability of Insilico's chemical models supports a repeatable "1-to-N" innovation creation engine, indicating strong potential for scalability [1] - As biological model human validation becomes more evident, the potential upside for Insilico is expected to be further released as the industry enters a broader adoption phase of AIDD [1]

Core Viewpoint - Insilico Medicine (03696) has announced a strategic collaboration with Kanghong Pharmaceutical for drug development, focusing on AI-enabled innovative drug research in central nervous system and autoimmune disease areas [1] Group 1: Collaboration Details - The collaboration will leverage Insilico's validated AI platform and innovative drug development capabilities alongside Kanghong's experienced research team and deep understanding of disease areas [1] - The agreement stipulates that both parties will jointly advance at least two research projects [1] Group 2: Financial Aspects - Insilico is expected to receive research funding support of up to several tens of millions of Hong Kong dollars for each project [1]

Market Overview - The Hong Kong stock market experienced a strong rebound, with the Hang Seng Index closing at 27,027.16 points, up 1.76% or 467.21 points, and a total trading volume of 255.14 billion HKD [1] - The Hang Seng Tech Index rose 1.34% to 5,417.6 points, while the Hang Seng China Enterprises Index increased by 1.52% to 9,168.33 points [1] - Analysts from Galaxy Securities noted a significant "Spring Festival effect" in the market, driven by optimistic sentiment and early capital allocation [1] Blue-Chip Stocks Performance - Innovent Biologics (01801) led the blue-chip stocks, surging 7.42% to 85.4 HKD, contributing 15.57 points to the Hang Seng Index [2] - The company announced a strategic partnership with Eli Lilly to advance global R&D in oncology and immunology, receiving an upfront payment of 350 million USD and potential milestone payments up to 8.5 billion USD [2] - Other notable blue-chip movements included Pop Mart (09992) up 5.76%, Zijin Mining (02899) up 5.58%, while China Telecom (00728) and China Mobile (00941) saw declines of 2.96% and 2.12%, respectively [2] Sector Highlights - Major technology stocks showed positive performance, with Baidu rising over 3%, Tencent up over 2%, and Alibaba increasing by 1.87% [3] - AI application stocks were particularly strong, with Zhipu AI soaring over 36% to a new high [3] - The gold sector rebounded significantly, with spot gold returning to 5,000 USD per ounce, leading to gains in gold stocks [3][6] AI and Technology Developments - Recent financial reports from Meta, Amazon, Google, and Microsoft indicated a potential capital expenditure of 660 billion USD in AI infrastructure this year [4] - Zhipu AI's stock rose 36.22% to 276.8 HKD, reflecting strong market interest in AI applications [4] - The Chinese government is focusing on building a national computing power interconnection node system, which may further stimulate the AI sector [4] New Market Entrants - Lanqi Technology (06809) debuted with a remarkable 63.72% increase, closing at 175 HKD, following its IPO pricing at 106.89 HKD per share [9] - The company specializes in integrated circuit design for cloud computing and AI infrastructure [9] - Additionally,兆易创新 (03986) saw an 11.43% rise to 314 HKD, supported by its inclusion in the Hong Kong Stock Connect program and positive earnings forecasts [10]

根据合作协议，双方将发挥互补优势，加快推进创新药物的全球研发工作。信达生物依托自身成熟的抗 体技术平台及高效的临床能力，将主导相关项目从药物发现至中国临床概念验证（二期临床试验完成） 的研发工作。根据协议，礼来获得相关项目在大中华区以外的全球独家开发与商业化许可，信达生物保 留相关项目在大中华区的全部权利。 根据协议条款，信达生物将获得3.5亿美元首付款；在达成后续特定里程碑事件后，信达生物还有资格 获得总额最高约85亿美元的研发、监管及商业化里程碑付款。此外，信达生物有权就各产品在大中华区 以外的净销售额获得梯度的销售分成。 近日，信达生物制药集团宣布与礼来制药达成战略合作，携手推进肿瘤及免疫领域创新药物的全球研 发。本次协议为双方第七次合作，进一步深化了双方长期且富有成效的合作伙伴关系，携手为全球患者 带来创新药物。 ...

根据合作协议，双方将发挥互补优势，加快推进创新药物的全球研发工作。信达生物依托自身成熟的抗 体技术平台及高效的临床能力，将主导相关项目从药物发现至中国临床概念验证（二期临床试验完成） 的研发工作；礼来获得相关项目在大中华区以外的全球独家开发与商业化许可，信达生物保留相关项目 在大中华区的全部权利。 消息面上，信达生物公告，与礼来制药达成战略合作，携手推进肿瘤及免疫领域创新药物的全球研发进 程。根据协议条款，信达生物将获得3.5亿美元首付款；在达成后续特定里程碑事件后，信达生物还有 资格获得总额最高约85亿美元的研发、监管及商业化里程碑付款。此外，信达生物有权就各产品在大中 华区以外的净销售额获得梯度的销售分成。本次协议为双方第七次合作，进一步深化了双方长期且富有 成效的合作伙伴关系。 智通财经APP获悉，信达生物(01801)高开逾4%，截至发稿，涨4.65%，报83.2港元，成交额1364.48万港 元。 ...

Core Viewpoint - The strategic collaboration between Innovent Biologics and Eli Lilly aims to advance global research and development of innovative drugs in oncology and immunology, marking the seventh partnership between the two companies [1][2] Group 1: Partnership Details - The collaboration involves Innovent Biologics and its subsidiaries, including Fortvita Biologics, and Eli Lilly, focusing on the global development of innovative drugs [1] - Innovent will lead the projects from drug discovery to clinical concept verification in China, while Eli Lilly will have exclusive development and commercialization rights outside Greater China [1] Group 2: Financial Aspects - Innovent will receive an upfront payment of $350 million, with potential milestone payments totaling up to approximately $8.5 billion based on specific future achievements [2] - The company will also earn a tiered sales share from net sales of each product outside Greater China [2] Group 3: Innovation Ecosystem - This partnership breaks traditional licensing models, creating a seamless end-to-end innovation ecosystem that integrates Innovent's drug discovery and early development capabilities with Eli Lilly's extensive global presence [2] - The collaboration reinforces Innovent's core R&D capabilities and aims to accelerate the translation of scientific discoveries into impactful medical solutions for global patients [2]