2025 - 12月 PHARMACEUTICAL INTERMEDIATE EXPORTS 破解政策难题 深挖全球红利 中国医药中间体出口全景分析 IFE 上海特易信息科技有限公司 SHANGHAI TOPEASE INFO-TECH CO.,LTD. 企 业 数 字 化 营 销 综 合 解 决 方 案 服 务 提 供 商 VX:FCCNN88 VX:FCCNN88 特易资讯 | WWW.TOPEASE.N 中国医药中间体出口整体情况概述 医药中间体作为药品合成工艺中不可或缺的关键组成部分，其产业技术与贸易流动直接关系到全球药品 供应链的稳定与安全。中国凭借数十年来在化学合成领域的持续积累与规模化生产优势，已发展成为全球最 重要的医药中间体生产与供应基地。本部分旨在从宏观层面概述中国医药中间体的出口全貌，为后续深入的 产品与市场分析奠定基础。 (一) 行业发展背景与全球定位 中国医药中间体行业的崛起，深度嵌合于全球制药产业链的梯度转移与国内化工产业升级的历史进程。 早期，行业依托国内基础化工原料优势和相对成本竞争力，承接了来自发达国家的大宗原料药及其中间体产 能。随着技术经验与资本投入的不断积累，中国产业逐 ...

建信灵活配置混合A（000270）基金经理为叶乐天、郭志腾。 截至发稿，叶乐天累计任职时间13年289天，现任基金资产总规模74.64亿元，任职期间最佳基金回报 328.03%， 任职期间最差基金回报-18.94%。 郭志腾累计任职时间2年26天，现任基金资产总规模10.71亿元，任职期间最佳基金回报170.17%， 任职 期间最差基金回报20.95%。 12月31日，醋化股份跌1.08%，截至发稿，报11.01元/股，成交265.72万元，换手率0.12%，总市值22.51 亿元。 资料显示，南通醋酸化工股份有限公司位于江苏省南通经济技术开发区江山路968号，成立日期，上市 日期2015年5月18日，公司主营业务涉及从事以醋酸衍生物、吡啶衍生物为主体的高端专用精细化学品 的研发、生产和销售。主营业务收入构成为：食品饲料添加剂28.53%，医药农药中间体20.29%，农化 类17.09%，其他商品12.51%，颜(染)料中间体11.97%，其他有机化合物7.19%，其他(补充)2.41%。 从基金十大重仓股角度 数据显示，建信基金旗下1只基金重仓醋化股份。建信灵活配置混合A（000270）三季度持有股数68. ...

Core Viewpoint - The stock of Vine Chemical Co., Ltd. has experienced fluctuations, with a current market value of 2.511 billion yuan and a year-to-date increase of 32.47% despite recent declines in share price [1][2]. Company Overview - Vine Chemical Co., Ltd. is located in Jiangshan Road, Nantong Economic and Technological Development Zone, Jiangsu Province, and was established on May 18, 2015. The company specializes in the research, production, and sales of high-end specialty fine chemicals, primarily focusing on acetic acid derivatives and pyridine derivatives [1]. - The company's main business revenue composition includes: food and feed additives (28.53%), pharmaceutical and pesticide intermediates (20.29%), agricultural chemicals (17.09%), other products (12.51%), dye intermediates (11.97%), other organic compounds (7.19%), and others (2.41%) [1]. Financial Performance - As of September 30, the number of shareholders for Vine Chemical was 11,600, a decrease of 13.79% from the previous period, while the average circulating shares per person increased by 15.99% to 17,697 shares [2]. - For the period from January to September 2025, Vine Chemical reported operating revenue of 1.991 billion yuan, a year-on-year decrease of 9.44%, and a net profit attributable to shareholders of -24.23 million yuan, reflecting a year-on-year increase of 74.19% [2]. - Since its A-share listing, Vine Chemical has distributed a total of 828 million yuan in dividends, with 226 million yuan distributed over the past three years [2].

Group 1 - The core viewpoint of the articles highlights that CuHua Co., Ltd. (醋化股份) is expected to turn a profit in the first half of 2025, with a projected net profit attributable to shareholders ranging from 0 to 5 million yuan, compared to a loss in the same period last year [1] - The company has actively responded to market changes by enhancing marketing efforts, adjusting product and customer structures, and optimizing production processes to improve profitability and alleviate competitive pressure [1] - The reduction in asset impairment losses and share-based payment expenses compared to the previous year has contributed to the company's improved financial outlook [1] Group 2 - The fine chemical industry is currently facing multiple challenges, including a slowdown in global economic growth and a complex international trade environment, which negatively impacts chemical product exports [2] - Domestic environmental policies are tightening, leading to restrictions on high-pollution and high-energy-consuming traditional production processes, prompting companies to accelerate their transformation towards greener and more efficient production methods [2] - CuHua Co., Ltd. has a diverse product structure covering over 40 products across various sectors, including food, feed additives, pharmaceuticals, and dyes, providing a competitive advantage over typical fine chemical companies [2]