流感季来袭: 问诊量飙升50% 未成年人受流感影响较大。从线上问诊咨询来 看,进入11月以来,儿童气管炎、支气管炎、 呼吸道感染及流行性感冒的线上咨询量持续攀 升。 11月以来,线上问诊量大增 菲 呼吸道感染问诊量 +49% 儿科相关问诊咨询量 +50% 数据来源:央广网,统计区间(2025.11.01-2025.11.20) 机构看好:流感催化行情 流感病毒通常每年呈季节性暴发，在温带国家 主要集中于冬季。近期流感患病者数量上升, 相关药物销量也同样大增,药企有望受益。 机构观点 光大证券 近期流感疫情上升态势明显,或带动 防治和检测流感产品的需求增长。 中泰证券 秋冬季流感高峰到来,有望带动疫苗 、抗病毒药物等相关标的持续上涨。 德邦证券 本轮流感上升趋势快,有望催生就医 和治疗需求。中成药是流感和普通感 冒治疗中的常用药,尤其是在儿童治 疗上。 资料来源:券商中国 借道ETF: 一指覆盖医药行业 港股通创新药指数聚焦创新药方向,同时涵盖 中药、西药、生物科技等方向。相关成分股有 望受益于新增的药物订单。 来源：中信建投证券 来源：券商研报精选 ...

1、事关促消费，六部门重磅发布!推动人工智能在消费品全行业全领域全过程应用 重要程度：★★★★★ 工业和信息化部、国家发展改革委、商务部、文化和旅游部、中国人民银行、市场监管总局印发《关于增 强消费品供需适配性进一步促进消费的实施方案》。 方案指出，到2027年，消费品供给结构明显优化，形成3个万亿级消费领域和10个千亿级消费热点，打造 一批富有文化内涵、享誉全球的高品质消费品。到2030年，供给与消费良性互动、相互促进的高质量发展 格局基本形成，消费对经济增长的贡献率稳步提升。 方案提到，有序发展直播电商、即时零售、策展零售、循环电商等新业态。鼓励平台企业依法合规利用人 工智能技术挖掘用户需求，匹配推送产品和服务。 点评：六部门联手点燃消费新引擎!3个万亿级赛道+10个千亿级热点的蓝图，让直播电商、AI推送站上风 口。这份政策大礼包把消费升级安排得明明白白——从智能推送到即时零售，未来五年消费板块的星辰大 海已然启航。 2、供货谷歌?中际旭创股价创历史新高，公司回应 重要程度：★★★★ 11月26日，中际旭创涨超13%创历史新高，成交额达329.8亿元居A股第一，总市值破6000亿元大关，年内 涨幅超342 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Views - The flu virus is a highly pathogenic pathogen, emphasizing the importance of flu prevention and treatment [14] - The flu activity is on the rise, with northern regions reporting the highest number of cases in nearly four years [16] - The strategic significance of flu prevention and treatment is highlighted, with opportunities expected in the vaccine, diagnostic, and antiviral drug sectors [19] Summary by Sections Flu Virus and Its Impact - Influenza is a common respiratory infectious disease with a high transmission rate and seasonal patterns, affecting approximately 1 billion people globally each year, with 300,000 to 500,000 severe cases and 290,000 to 650,000 deaths related to respiratory diseases caused by influenza [15] - The flu activity has shown an upward trend, with the ILI% reported at 5.1% in northern provinces, exceeding levels from previous years [16] Market Performance - In the first week of November 2025, the pharmaceutical and biological sector declined by 2.4%, underperforming the CSI 300 index by 3.22 percentage points, ranking 29th among 31 sub-industries [6][26] - The pharmaceutical circulation sector saw the highest increase, up by 1.59%, while the medical research outsourcing sector experienced the largest decline, down by 4.93% [26] Investment Opportunities - The flu prevention and treatment strategy is gaining importance, with structural opportunities expected in the vaccine, diagnostic, and antiviral drug industries due to low vaccination rates and ongoing virus mutations [19] - Specific companies benefiting from the flu season include Innotest and Ansun Biologics in the in vitro diagnostics sector, Huazhong Biological in the biological products sector, and Zhongsheng Pharmaceutical in the traditional Chinese medicine sector [5] Recommended Stocks - Monthly stock recommendations include: Sanofi, Innovent Biologics, Baillie Gifford, Frontier Biologics, Haofan Biologics, Aopumai, Shanghai Yizhong, WuXi Biologics, Zai Lab, and Fangsheng Pharmaceutical [7] - Weekly stock recommendations include: Yaokang Biologics, Bidu Pharmaceuticals, Haoyuan Pharmaceuticals, China Resources Sanjiu, Huadong Medicine, Sunshine Nuohuo, Yuekang Pharmaceuticals, Zhongsheng Pharmaceuticals, and Jichuan Pharmaceuticals [7]

Core Viewpoint - The article highlights a significant increase in respiratory infections among children during the autumn and winter seasons, with various pathogens circulating, particularly influenza and rhinovirus, leading to a rise in outpatient visits at children's hospitals [1][2]. Group 1: Respiratory Infection Trends - There has been a notable rise in the number of outpatient visits for respiratory infections in children's hospitals, with symptoms such as persistent cough, runny nose, and fever being common among affected children [1]. - According to the China CDC, influenza has become the leading pathogen in outpatient settings, with a positive detection rate of 17.5% for influenza-like cases [1]. - The infection rates for rhinovirus are also high, particularly among children aged 14 and below, while respiratory syncytial virus (RSV) is showing an upward trend in northern provinces [1]. Group 2: Symptoms and Treatment - Common symptoms of respiratory viral infections include fever, cough, phlegm, sore throat, sneezing, and runny nose, but different viruses exhibit distinct characteristics [2]. - RSV primarily affects infants under 2 years old, presenting with symptoms like runny nose, low fever, and cough, while severe cases may lead to respiratory distress [2]. - Influenza typically presents with more severe systemic symptoms, whereas rhinovirus infections are generally milder, resembling common colds [2]. Group 3: Treatment Guidelines - There are significant differences in treatment approaches for various viral infections; both rhinovirus and RSV lack specific antiviral medications, and treatment focuses on supportive care [2]. - For confirmed influenza cases, prompt administration of antiviral medications can effectively alleviate symptoms, but these medications are not beneficial for other viral infections [2]. - The use of antibiotics is discouraged for any viral infections, as they do not provide any benefit [2]. Group 4: Influenza Virus Characteristics - Current circulating influenza strains are predominantly the H3N2 subtype, which accounts for over 98% of detected cases [3]. - The H3N2 subtype is a common seasonal flu strain, and vaccination is emphasized as the most effective and economical method to prevent severe illness from influenza [3]. - Available influenza vaccines are effective against the currently circulating H3N2 strain [3].

Core Viewpoint - The article emphasizes the importance of recognizing and addressing pain as a critical health signal, particularly for the elderly, who often tend to endure pain rather than seek medical attention [1][2][4]. Pain Recognition and Urgency - Pain is not merely a sensation but a vital protective mechanism of the body, indicating potential health issues that require timely medical intervention [2][4]. - Certain types of pain, especially those related to cardiovascular diseases, can be urgent and dangerous, necessitating immediate medical attention [4][6]. Specific Conditions and Treatments - Shingles, known as "缠腰龙," is highlighted as a condition that requires prompt treatment within the first 72 hours to prevent long-term pain and nerve damage [7][11]. - The nature of shingles pain is described as severe and unique, often resembling burning or electric shock sensations, which necessitates early intervention [11][13]. Osteoarthritis in the Elderly - Osteoarthritis is a common issue among the elderly, with over 100 million patients in China, and a high prevalence of 80% in individuals over 75 years old [16][18]. - Early intervention and management can significantly improve joint function and quality of life, countering the misconception that joint pain is a normal part of aging [16][20]. Recommendations for Joint Health - Experts recommend a comprehensive approach to managing joint pain, including lifestyle changes, weight control, and appropriate exercise [20][22]. - It is crucial for patients to seek medical attention if joint pain persists or worsens, as timely diagnosis can prevent further complications [24].

Core Insights - China National Pharmaceutical Group reported a revenue of 8.819 billion yuan for Q3 2025, marking a 3.67% year-on-year increase, with a net profit of 161 million yuan, up 27.51% [1] - For the first three quarters of 2025, the total revenue reached 25.894 billion yuan, with a net profit of 455 million yuan [1] Group 1: Green Manufacturing and Low-Carbon Transition - Multiple subsidiaries of China National Pharmaceutical have achieved significant results in low-carbon production and resource recycling, creating a "green factory cluster" effect [2] - Tianshan Pharmaceutical emphasizes "green development" by promoting sustainable use of local medicinal materials and establishing GAP bases to protect regional ecosystems [2] - The company has successfully established and certified four management systems: environmental, quality, occupational health and safety, and energy, laying a solid foundation for sustainable development [2] Group 2: Rural Revitalization and Medical Services - China National Pharmaceutical has been supporting Wuchuan County in Inner Mongolia for 23 years, focusing on the revitalization of local industries, particularly the production of traditional medicinal materials [3] - The company has integrated resources with local government to enhance agricultural productivity and income for farmers through various initiatives [3] - Sanyou Pharmaceutical has been recognized as one of the top 50 manufacturing enterprises in Hainan Province for 2025, responding to national drug quality improvement policies [3] Group 3: Digital Transformation and Governance - The company is optimizing its governance system through digital transformation, enhancing core competitiveness and ensuring sustainable development [4] - A digital platform has been established for comprehensive business management, recognized as a benchmark case for digital transformation in the pharmaceutical distribution industry [4] - Key subsidiaries are focusing on technological breakthroughs in antiviral drug development and leveraging policy advantages to accelerate market penetration [4]

Group 1 - The White Dew solar term marks the arrival of autumn and is characterized by increased temperature fluctuations and a greater difference between day and night temperatures [2][3] - It is essential to pay attention to body warmth, especially for the abdomen and feet, to prevent gastrointestinal discomfort [2][3] - Recommendations include layering clothing for temperature regulation and ensuring adequate sleep to enhance immune function [4][5] Group 2 - Dietary adjustments are crucial during the White Dew period, with an emphasis on consuming fresh fruits and vegetables rich in vitamin C, as well as foods high in zinc [6][7] - Women experiencing "blood deficiency" should focus on iron-rich foods and avoid cold and spicy items to maintain health [8][9][10] - Moderate exercise is encouraged to improve blood circulation, with specific recommendations for activities like brisk walking and yoga [12][13] Group 3 - The onset of the White Dew period coincides with a rise in respiratory diseases, necessitating awareness and preventive measures [15] - It is advised not to use antibiotics indiscriminately for common colds and to seek symptomatic treatment instead [16] - Post-infection coughs should not be treated with prolonged use of antiviral medications, and patients should monitor symptoms closely [17]

Market Overview - On August 1, the Shanghai Composite Index fell by 0.37% to 3559 points, while the Shenzhen Component Index decreased by 0.17%, and the ChiNext Index dropped by 0.24%. Despite this, over 3300 stocks in the market rose [1] - The traditional Chinese medicine sector experienced a surge, while the shipbuilding, aircraft carrier concepts, and civil explosives sectors weakened [1] Notable Stocks - *ST Asia Pacific saw a significant increase of 45.04%, closing at 6.67, attributed to restructuring and fine chemicals [2] - Asia Pacific Pharmaceutical rose by 9.96% to 7.40, driven by a mid-year profit forecast increase and antiviral drugs [2][13] - Dafu Cultural Tourism gained 10.00% to 7.37, benefiting from the sports industry and ice and snow tourism [2] - Honghe Technology increased by 9.98% to 25.89, linked to high-performance fiberglass cloth and PCB concepts [2] - Qizheng Zang Medicine surged by 49.99% to 34.69, supported by semi-annual growth and innovative Tibetan medicine [2] - Lide Man rose by 20.03% to 8.45, attributed to significant restructuring and in vitro diagnostics [2][19] Trading Activity - The top three net buying stocks on the day were Jiejia Weichuang, Shen Sanda A, and Asia Pacific Pharmaceutical, with net purchases of 233 million, 193 million, and 192 million respectively [3] - The top three net selling stocks were Yidian Tianxia, Changcheng Military Industry, and Beifang Longchang, with net sales of 309 million, 161 million, and 128 million respectively [6] Sector Performance - High-level stocks such as Tibet Tourism faced a limit down, while Sunshine Dairy and Zhonghua Equipment fell over 9%. The market's consecutive board height has decreased to 3 boards [4] - Jiejia Weichuang's stock performance was bolstered by earnings forecasts and its involvement in photovoltaic equipment and semiconductor cleaning, achieving a 20% limit up with a turnover rate of 16.84% [9] Company Updates - The Ministry of Industry and Information Technology issued a notice regarding energy-saving inspections in the polysilicon industry, requiring results to be reported by September 30, 2025 [12] - Asia Pacific Pharmaceutical expects a net profit of 1.00 to 1.10 billion for the mid-year report, a year-on-year increase of 1726.42% to 1909.06%, mainly due to the sale of a subsidiary [17]

Core Viewpoint - Dongguan City aims to build a "global advanced manufacturing innovation leading city" by developing a modern industrial system characterized by "8+8+4," which includes traditional industries, strategic emerging industries, and future industries to support high-quality development [1][14]. Group 1: Industrial Structure - Dongguan has established a modern industrial system consisting of eight traditional advantageous industries, eight strategic emerging industries, and four future industries, creating a comprehensive industrial ecosystem [1][14]. - The eight traditional industries include food and beverage, paper and paper products, textiles and clothing, chemical manufacturing, furniture manufacturing, packaging and printing, toys and sporting goods, and molds and precision manufacturing [1][14]. - The eight strategic emerging industries focus on new-generation electronic information, high-end equipment manufacturing, semiconductors and integrated circuits, advanced materials, new energy, biomedicine and health, artificial intelligence, and low-altitude economy [1][14]. - The four future industries are next-generation mobile communication, frontier new materials, embodied intelligent robots, and future life health [1][14]. Group 2: Economic Performance - In 2024, Dongguan's GDP reached 1,228.215 billion yuan, with a year-on-year growth of 4.6%, indicating steady economic growth [5]. - The secondary industry added value was 6,800.80 billion yuan, growing by 6.6%, showcasing strong industrial growth momentum [5]. - The advanced manufacturing and high-tech manufacturing sectors saw significant growth, with advanced manufacturing value-added increasing by 11.1% and high-tech manufacturing value-added growing by 12.7% [7]. Group 3: Policy Framework - The "new quality productive forces" concept was introduced as a national strategy in 2024, emphasizing innovation-driven development and high-quality economic growth [11]. - Dongguan's government has implemented various policies to support the development of new quality productive forces, including plans for low-altitude economy, strategic emerging industries, and artificial intelligence integration into manufacturing [11][12]. - The city aims to cultivate over seven industrial clusters with a scale exceeding 100 billion yuan by 2027, with a focus on high-tech manufacturing and industrial investment growth [17]. Group 4: Future Development Trends - Dongguan is focusing on the integration of innovation chains and industrial chains, aiming to break through key technologies in semiconductors and industrial mother machines [29]. - The city plans to enhance the digital economy and advanced manufacturing integration, targeting a digital economy core industry scale of over 500 billion yuan by 2027 [30]. - Efforts are being made to accelerate green and low-carbon transformation, particularly in new energy and circular economy sectors [31]. - Dongguan aims to strengthen industrial collaboration with Shenzhen and Guangzhou, attracting global high-end innovation resources [32].

本文约 2 5 0 0 字，推荐阅读时长 1 5 分钟，欢迎关注新财富公众号。 1 引言 4月14日，美国商务部宣布启动对进口药品的国家安全调查。这一调查覆盖了所有进口药品，包括成 品仿制药、原研药以及用于生产这些药品的关键药用成分。此举属于特朗普政府根据1962年《贸易扩 展法》第232条对多个行业进行的关税调查的一部分。虽然调查尚未结束，预计结果将在270天内公 布，但业内普遍认为，这将赋予特朗普政府对进口药品和原料药征收关税的权力。特别是对中国等主 要药品出口国的影响，可能会带来严重的供应链中断及成本上升。 事实上，美国每年从中国进口药品总额约60亿美元，其中大量为抗生素、抗病毒及心血管药物等基础 药物。一旦关税进一步扩大实施，这些进口药品的成本预计将明显上升，对美国本土药品生产商带来 直接冲击。为应对这种风险，特朗普政府提出多项措施推动产业本土化。 分析师预计，如果对来自中国的API征收10%的关税，仿制药企业的利润将下跌2%-3%，创新药利润 下跌可能更严重。 2 美国关税筑墙， 中概股 跌宕 自2025年特朗普重新执政以来，美国政府出台了一系列针对生物医药产业的重要政策，核心目标是强 化美国医药产 ...