10月27日晚间，华东医药（000963）发布2025年三季报。报告显示，2025年1-9月公司合计实现营业收 入326.64亿元，同比增长3.77%；实现归母净利润27.48亿元，同比增长7.24%；实现扣非归母净利润 26.94亿元，同比增长8.53%。 值得注意的是，华东医药持续研发投入，公司今年前三季度医药工业研发投入加码至21.86亿元(不含股 权投资)，同比增长35.99%，其中直接研发支出17.67亿元，同比增长53.76%，占医药工业营收比例达 16.21%。 创新药价值加速兑现 2025年1-9月，华东医药医药工业板块整体经营继续保持稳健增长趋势，实现营业收入110.45亿元(含 CSO业务)，同比增长11.10%，实现归母净利润24.75亿元，同比增长15.62%。其中，第三季度实现营业 收入37.28亿元(含CSO业务)，同比增长14.95%，实现归母净利润8.94亿元，同比增长18.43%。 2025年1-9月，华东医药工业微生物板块整体收入继续保持较快增长，同比增长28.48%。 华东医药工业微生物领域重点推进xRNA原料、特色原料药&中间体、大健康&生物材料、动物保健四 大核心业务 ...

Core Insights - The company reported steady revenue and profit growth for the first three quarters of 2025, with total revenue reaching 32.664 billion yuan, a year-on-year increase of 3.77%, and net profit attributable to shareholders of 2.748 billion yuan, up 7.24% [1] - Significant investment in R&D was noted, with expenditures rising to 2.186 billion yuan, a 35.99% increase, indicating a strong commitment to innovation [1] - The company’s innovative products are increasingly contributing to revenue, with sales from innovative products reaching 1.675 billion yuan, a substantial growth of 62% year-on-year [2] Financial Performance - For the first nine months of 2025, the pharmaceutical industrial segment achieved revenue of 11.045 billion yuan, a growth of 11.10%, and net profit of 2.475 billion yuan, up 15.62% [2] - In Q3 2025, the segment reported revenue of 3.728 billion yuan, a 14.95% increase, and net profit of 894 million yuan, an 18.43% rise [2] - The company maintained a resilient operational performance despite increased R&D investments, with quarterly revenue and profit showing a consistent upward trend [1] Product Development and Innovation - The company has made significant advancements in its core therapeutic areas, including endocrine, oncology, and autoimmune diseases, with over 90 innovative drug pipeline projects underway [4] - The ADC drug pipeline has shown promising progress, with several candidates receiving IND approvals in both China and the U.S. [5] - The company is preparing for negotiations regarding national medical insurance and commercial insurance for three innovative products, aiming to enhance drug accessibility and drive sales growth [3] Market Position and Strategy - The company has established a strong market presence with its CAR-T product, achieving significant order volumes that exceed previous year's totals [2] - The company’s innovative drug candidates are positioned to address various conditions, including diabetes and cancer, with several products nearing market entry [6][7] - The industrial microbiology segment has also shown robust growth, with a 28.48% increase in revenue, indicating a diversified growth strategy [9] Future Outlook - The company aims to continue its focus on research-driven, patient-centered approaches to foster sustainable high-quality growth [11] - The medical aesthetics business is expected to enhance its brand effect and core competitiveness through a global product matrix [10] - The ongoing development of innovative products and the expansion of market access are anticipated to provide solid momentum for future performance [11]

Core Viewpoint - The company Huadong Medicine (000963) announced that its wholly-owned subsidiary, Xinkelimeixue (Hangzhou) Medical Technology Co., Ltd., has received an acceptance notice from the National Medical Products Administration (NMPA) for its application to register a Class III medical device, the lidocaine injection cross-linked hyaluronic acid gel MaiLi Precise [1] Group 1 - The acceptance notice indicates progress in the regulatory approval process for the medical device [1] - The registered product, MaiLi Precise, is a cross-linked hyaluronic acid gel that includes lidocaine, suggesting a focus on aesthetic and medical applications [1] - This development may enhance the company's product portfolio and market competitiveness in the medical aesthetics sector [1]

Core Viewpoint - The company Huadong Medicine (000963.SZ) announced that its wholly-owned subsidiary, Xinkelimeixue (Hangzhou) Medical Technology Co., Ltd., has received an acceptance notice from the National Medical Products Administration (NMPA) for its Class III medical device registration application for the lidocaine injection cross-linked transparent hyaluronic acid gel MaiLi Precise [1] Group 1 - Huadong Medicine's subsidiary has successfully submitted a registration application for a new medical device [1] - The acceptance of the application indicates progress in the company's product development pipeline [1] - The product in question is a Class III medical device, which typically requires rigorous regulatory scrutiny [1]

格隆汇10月16日丨华东医药(000963.SZ)公布，全资子公司欣可丽美学（杭州）医疗科技有限公司收到 国家药品监督管理局（NMPA）签发的《受理通知书》，其申报的三类医疗器械含利多卡因注射用交联 透明质酸钠凝胶MaiLiPrecise注册申请获得受理。MaiLi系列是公司英国全资子公司 SinclairPharmaceuticalsLimited（以下简称"Sinclair"）旗下的高端透明质酸钠凝胶（玻尿酸）产品，来自 于Sinclair参股的瑞士专业医美研发公司KylaneLaboratoiresSA，Sinclair拥有该系列产品的全球独家许 可。 ...

Core Viewpoint - The announcement indicates that East China Pharmaceutical's subsidiary, Xinkeli Medical Technology Co., Ltd., has received an acceptance notice from the National Medical Products Administration for the registration application of the Class III medical device "MaiLi Precise," which is a cross-linked hyaluronic acid gel containing lidocaine. This marks a significant milestone in the product's development process in the Chinese market [1] Group 1 - The registration application for MaiLi Precise has been accepted, which is a crucial step for its market entry in China [1] - The MaiLi series products are globally licensed exclusively to East China Pharmaceutical's wholly-owned subsidiary, Sinclair Pharmaceuticals Limited [1] - The recent progress is not expected to have a significant impact on the company's short-term operating performance, but the company will continue to advance the registration and sales process domestically [1]