1月7日，联环药业盘中下跌2.00%，截至13:42，报19.10元/股，成交1.81亿元，换手率3.27%，总市值 54.52亿元。 资金流向方面，主力资金净流出1655.95万元，特大单买入0.00元，占比0.00%，卖出646.07万元，占比 3.58%；大单买入2329.57万元，占比12.90%，卖出3339.44万元，占比18.49%。 联环药业今年以来股价涨4.31%，近5个交易日涨2.52%，近20日涨3.02%，近60日跌0.62%。 资料显示，江苏联环药业股份有限公司位于江苏省扬州生物健康产业园健康一路9号，成立日期2000年2 月22日，上市日期2003年3月19日，公司主营业务涉及化学药品的研发、生产及销售。主营业务收入构 成为：药品70.01%，医疗器械23.89%，其他6.11%。 联环药业所属申万行业为：医药生物-化学制药-化学制剂。所属概念板块包括：抗流感、创新药、生物 医药、小盘、禽流感药物等。 截至9月30日，联环药业股东户数4.66万，较上期增加54.72%；人均流通股6130股，较上期减少 35.37%。2025年1月-9月，联环药业实现营业收入20.82亿元，同比增长 ...

根据相关规定，对邢雅江给予警告并被处以350万元罚款。 金花股份是一家医药工业企业，主要业务为药品的研发、生产及销售，产品线涵盖化学药品、中成药、原料药和保健品。 三季度报显示，金花股份前三季度实现营业总收入3.84亿元，同比下降8.36%；实现净利润3448.12万元，同比增长12.06%。 上述行为涉嫌信息披露违法违规，陕西证监局于7月25日举行了听证会，听取了邢雅江及其代理人的陈述申辩意见，后经复核不予采纳。 近日，金花企业（集团）股份有限公司（以下简称"金花股份"）发布公告称，其董事长邢雅江收到了陕西监管局下发的《行政处罚决定书》。 刑雅江因涉嫌犯罪于2024年4月至7月被公安机关取保候审，但作为金花股份董事长未及时履行信息披露义务，导致金花股份直至2024年8月24日才对外披露 相关事项。 ...

12月16日，金花企业（集团）股份有限公司（600080.SH，简称"金花股份"）发布公告称，董事长邢雅江因未及时披露个人被取保候审事项，收到陕西证监 局《行政处罚决定书》，被给予警告并处以350万元罚款。 公开资料显示，邢雅江于2024年4月23日被西安市公安局鄠邑分局采取取保候审措施，后因现有证据不能证实其涉案嫌疑，于同年7月26日被解除该措施。作 为金花股份董事长，邢雅江未及时将上述事项报告金花股份并履行信息披露义务，直至2024年8月24日金花股份才对外披露相关信息。陕西证监局指出，其 行为违反规定，构成信息披露违法违规行为。邢雅江在听证中提出"无法确认自身法律状态""处罚过重"等申辩理由，但监管部门认为缺乏事实和证据支撑， 未予采纳。 值得注意的是，2024年以来邢雅江已多次涉及监管违规，曾因金花股份2023年业绩预告披露不准确，被上交所通报批评，陕西证监局出具警示函。 金花股份的主营业务为药品的研发、生产及销售，产品线涵盖化学药品、中成药、原料药和保健品，剂型包括片剂、胶囊剂、颗粒剂等百余个品种，产品分 为骨科类、免疫类、儿童类和普药类等系列。 ...

证券时报记者 曾剑 近日，"第十九届上市公司价值论坛暨2025新质生产力巡礼宜宾行"在四川宜宾举办。在中泰证券研究所联席所长 王芳主持的圆桌对话环节，燕京啤酒董事长耿超、日联科技董事长刘骏、雅本化学董事长蔡彤、深圳瑞捷董事长 范文宏、梓橦宫董事长唐铣等展开对话，分享了他们对"新质生产力重塑企业价值"话题的经验和思考。 虽然五位董事长系来自不同领域的企业掌舵者，但他们的共识是，新质生产力正以磅礴之势，深刻且彻底地改变 着企业的成长逻辑，为企业发展开辟出全新的赛道；企业应充分使用正快速成长的AI工具，提升自我认知和能 力，把新质生产力转化为企业价值。 新质生产力赋能 高质量发展是全面建设社会主义现代化国家的首要任务。《中共中央关于制定国民经济和社会发展第十五个五年 规划的建议》中有十几次提到高质量发展。而发展新质生产力是推动高质量发展的内在要求和重要着力点，对于 企业而言也是如此。 耿超表示，对于消费行业而言，新质生产力可以赋能企业，助力提升核心竞争能力。赋能路径的核心在于通过系 统性升级、效率革命与价值重构，推动企业从单点突破转向生态化竞争。 一是企业通过自我检视，审视自身在技术、产品、管理创新上与新质生产力的 ...

Core Viewpoint - The stock price of Pulaike has experienced fluctuations, with a recent decline of 2.03% and a year-to-date increase of 11.28% [1][2]. Company Overview - Pulaike Bioengineering Co., Ltd. is located in Luoyang, Henan Province, established on June 22, 2002, and listed on May 18, 2015. The company primarily engages in the research, production, and sales of veterinary biological products, chemical drugs, and traditional Chinese veterinary medicine [2]. - The revenue composition includes: poultry vaccines and antibodies (41.19%), pig vaccines (32.25%), chemical drugs (21.37%), functional health products (1.79%), pet vaccines (1.38%), and other income sources [2]. Financial Performance - For the period from January to September 2025, Pulaike achieved operating revenue of 823 million yuan, representing a year-on-year growth of 8.04%. The net profit attributable to the parent company was 157 million yuan, reflecting a significant increase of 47.86% [2]. - Cumulative cash dividends since the A-share listing amount to 1.125 billion yuan, with 568 million yuan distributed over the past three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders is 16,700, a decrease of 7.26% from the previous period. The average circulating shares per person increased by 7.83% to 20,739 shares [2]. - Among the top ten circulating shareholders, Guotai Zhongzheng Livestock Breeding ETF ranks sixth with 5.4716 million shares, an increase of 2.0217 million shares from the previous period. Hong Kong Central Clearing Limited is the eighth largest shareholder with 3.832 million shares, marking a new entry [3].

Core Viewpoint - On November 20, 2023, the stock of Pulaike experienced a decline of 0.58%, with a trading volume of 43.79 million yuan, indicating a negative trend in market performance [1] Financing Summary - On the same day, Pulaike had a financing buy-in amount of 4.09 million yuan and a financing repayment of 12.67 million yuan, resulting in a net financing outflow of 8.58 million yuan [1] - As of November 20, the total financing and securities lending balance for Pulaike was 135 million yuan, which is 2.82% of its circulating market value, indicating a low financing balance compared to the past year [1] - The company repaid 100 shares of securities lending and sold 700 shares, with a selling amount of 9,674 yuan, while the remaining securities lending volume was 25,700 shares, with a balance of 355,200 yuan, which is above the 50th percentile of the past year [1] Company Overview - Pulaike Bioengineering Co., Ltd. was established on June 22, 2002, and listed on May 18, 2015, primarily engaged in the research, production, and sales of veterinary biological products, chemical drugs, and traditional Chinese veterinary medicine [2] - The revenue composition includes poultry vaccines and antibodies (41.19%), pig vaccines (32.25%), chemical drugs (21.37%), functional health products (1.79%), pet vaccines (1.38%), and other income sources [2] - As of September 30, 2023, the number of shareholders was 16,700, a decrease of 7.26%, while the average circulating shares per person increased by 7.83% to 20,739 shares [2] Financial Performance - For the period from January to September 2023, Pulaike achieved an operating income of 823 million yuan, representing a year-on-year growth of 8.04%, and a net profit attributable to shareholders of 157 million yuan, reflecting a significant increase of 47.86% [2] Dividend Information - Since its A-share listing, Pulaike has distributed a total of 1.125 billion yuan in dividends, with 568 million yuan distributed over the past three years [3] Institutional Holdings - As of September 30, 2023, the sixth largest circulating shareholder was the Guotai Zhongzheng Livestock Breeding ETF, holding 5.4716 million shares, an increase of 2.0217 million shares from the previous period [3] - The Hong Kong Central Clearing Limited was the eighth largest circulating shareholder, holding 3.832 million shares as a new shareholder [3]

Core Insights - On November 20, 2023, Kewah Pharmaceutical's stock price remained unchanged at 0.00%, with a trading volume of 30.31 million yuan [1] - The company reported a financing buy-in of 3.57 million yuan and a net financing buy of 1.38 million yuan on the same day [1] - As of November 20, the total margin balance for Kewah Pharmaceutical was 140 million yuan, indicating a low financing balance compared to the past year [1] Financing and Margin Data - Kewah Pharmaceutical's financing buy-in on November 20 was 3.57 million yuan, with a current financing balance of 138 million yuan, accounting for 1.60% of the circulating market value [1] - The company’s margin trading showed a repayment of 1,200 shares with no shares sold, resulting in a margin balance of 1.49 million yuan, which is also low compared to the past year [1] Company Overview - Kewah Pharmaceutical Group Co., Ltd. was established on September 7, 2005, and listed on December 30, 2014 [1] - The company specializes in the research, production, and sales of various traditional Chinese medicines and chemical drugs, with revenue composition as follows: traditional Chinese medicine 64.83%, chemical drugs 26.56%, nutritional health products 8.22%, and others 0.39% [1] Financial Performance - For the period from January to September 2025, Kewah Pharmaceutical reported a revenue of 1.684 billion yuan, a year-on-year decrease of 43.24%, and a net profit attributable to shareholders of -33.54 million yuan, a year-on-year decrease of 105.72% [2] Dividend Information - Since its A-share listing, Kewah Pharmaceutical has distributed a total of 4.045 billion yuan in dividends, with 1.752 billion yuan distributed over the past three years [3] Shareholder Structure - As of September 30, 2025, Kewah Pharmaceutical had 53,000 shareholders, with an average of 11,018 circulating shares per person [2] - The top ten circulating shareholders include various ETFs, with notable changes in holdings among them [3]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has published supplementary material requirements for overseas listing applications, specifically addressing the case of Changchun High-tech (000661) and its fundraising and AI-related business details [1][2]. Group 1: Regulatory Requirements - CSRC has requested Changchun High-tech to clarify the use of raised funds and the specifics of its AI large model business [1][2] - The company must provide a legal opinion regarding the ownership structure of its controlling shareholder, Jilin Province Xinzhen Fund Partnership, and whether any legal restrictions on shareholding exist [1][2] - The company is required to explain the potential impact of its controlling shareholder's equity pledge on the control of the issuer and compliance with relevant regulations [1][2] Group 2: Business Operations - Changchun High-tech is described as an innovation-driven pharmaceutical group with a comprehensive product portfolio covering therapeutic biological agents, chemical drugs, vaccines, and traditional Chinese medicine [2] - The company is one of the few domestic pharmaceutical enterprises capable of achieving full industry chain capabilities in research and development, production, and commercialization across all major drug registration types in China [2] - The company has established a strong and diversified product portfolio in various therapeutic areas, including endocrine and metabolic diseases, women's health, immune and respiratory diseases, tumors, vaccines, and traditional Chinese medicine [2]

二、请结合股票质押原因、合同履行情况、相关主体偿债能力等情况，补充说明本次发行上市前后，你 公司控股股东股权质押情况是否可能导致发行人控制权发生变化，是否导致发行人存在《境内企业境外 发行证券和上市管理试行办法》第八条规定的禁止性情形。 三、请补充说明你公司业务涉及AI大模型的具体情况，大模型的应用场景、具体功能等。 中国证监会请长春高新补充说明以下事项，请律师核查并出具明确的法律意见： 一、请按照《监管规则适用指引——境外发行上市类第2号》补充说明你公司控股股东上层投资人吉林 省信政基金合伙企业(有限合伙)的穿透情况，是否存在法律法规规定禁止持股的主体。 （原标题：新股消息 | 长春高新(000661.SZ)拟港股上市 中国证监会要求补充说明募集资金用途等） 智通财经APP获悉，11月14日，中国证监会公布《境外发行上市备案补充材料要求(2025年11月10日— 2025年11月14日)》。中国证监会国际司公示10家企业补充材料要求，其中，公示提到要求长春高新 (000661.SZ)补充说明公司募集资金用途、以及业务涉及AI大模型的具体情况等。据港交所9月29日披 露，长春高新技术产业(集团)股份有限公司( ...

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has published supplementary material requirements for 10 companies, including Changchun High-tech (000661.SZ), which is seeking to list on the Hong Kong Stock Exchange. The CSRC has requested additional information regarding the company's fundraising purposes and its involvement in AI large models [1][2]. Group 1: Regulatory Requirements - The CSRC has requested Changchun High-tech to clarify the ownership structure of its controlling shareholder, Jilin Province Xinzhen Fund Partnership, and whether there are any legal restrictions on shareholding [1]. - The company must provide details on the potential impact of share pledges by its controlling shareholder on the control of the issuer, including the reasons for stock pledges and the repayment capabilities of relevant parties [1]. - The CSRC has asked for a detailed explanation of the company's business related to AI large models, including application scenarios and specific functionalities [1]. Group 2: Fundraising and Business Operations - Changchun High-tech is required to provide a detailed account of the intended use of the funds raised from the listing [2]. - The company must confirm the legality and compliance of its establishment and any changes in shareholding, focusing on significant aspects [3]. - The company needs to elaborate on its subsidiaries' business operations, including internet information services, clinical trial services, and whether they have obtained necessary qualifications and licenses [3]. Group 3: Company Overview - Changchun High-tech is an innovation-driven pharmaceutical group with a comprehensive portfolio covering therapeutic biological agents, chemical drugs, vaccines, and traditional Chinese medicine [3]. - The company is one of the few domestic pharmaceutical enterprises capable of achieving full industry chain capabilities in research and development, production, and commercialization across all major drug registration types in China [3]. - It has established a strong and diversified product portfolio in areas such as endocrine and metabolic diseases, women's health, immune and respiratory diseases, tumors, vaccines, and traditional Chinese medicine [3].