证券代码：000950 证券简称：重药控股 答：公司市值表现一般受到多种因素影响，市值管理作为公 司今年的一项重点任务，公司将在做好经营管理提升经营成效的 同时高度重视并综合运用包括但不限于信息披露、现金分红、股 份回购等方式，加强市值管理工作。 公司于今年 6 月制定了《市 值管理制度》，确保市值管理工作有章可循；于 7 月底经股东会 审议通过了拟以 8000 万元至 10000 万元开展股份回购注销，并 于 8 月 14 日首次通过回购专用证券账户以集中竞价方式实施了 回购；同时近年来保持较为稳定的分红政策，并逐步通过增加分 红频次、提高分红比例积极回报股东。感谢您的关注！ 重药控股股份有限公司投资者关系活动记录表 编号：2025-008 | | □特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动类 | □媒体采访 业绩说明会 | | 别 | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他（请文字说明其他活动内容） | | | 线上参与公司 年半年度业绩说明会的投资者 2025 上市公司接待人员： | | | 董事长 袁泉 | | | 董事兼总经理 刘 ...

（记者 王晓波） 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。 每日经济新闻 每经AI快讯，东吴证券8月23日发布研报称，给予东诚药业（002675.SZ，最新价：17.57元）买入评 级。评级理由主要包括：1）2025Q2核药板块核心产品增长较好，产品结构改善，带动净利率提升； 2）公司创新核药平台管线收获期，核药研发进度领先。风险提示：新药研发进展不及预期，核药政策 改革，汇率波动，肝素原料药采购及价格波动，以及折旧增加导致业绩下滑的风险。 每经头条（nbdtoutiao）——鲍威尔"认错"，释放最强降息信号，美股狂欢！37万亿美元压顶，美国"债 务死亡螺旋"如何破解？ ...

Core Viewpoint - The article highlights the rising prominence of radiopharmaceuticals, exemplified by the successful funding of Actithera, a company with a unique business model of operating with a single employee, the founder, Andreas Goutopoulos [2][3][4]. Company Summary - Actithera, founded in 2021, specializes in developing radiopharmaceuticals based on monoclonal antibodies for treating tumors and other difficult diseases. The company recently completed an oversubscribed Series A funding round of $75.5 million, equivalent to approximately 540 million RMB [3][4][6]. - The founder, Goutopoulos, has over 25 years of experience in the pharmaceutical and biotechnology sectors, previously working for Merck for 17 years. His entrepreneurial journey was inspired by breakthroughs in radiopharmaceuticals during his tenure at Merck [6][7]. - Actithera's pipeline includes four projects, with the core drug ACT017 targeting FAP, showing promising preclinical results, including an over 80% reduction in tumor volume in gastric cancer models. The company plans to initiate Phase I/II clinical trials for ACT017 in 2025 [8]. Industry Overview - The global radiopharmaceutical market was valued at approximately $7 billion in 2022 and is projected to grow at a CAGR of 18%, reaching around $18.7 billion by 2028. The capital market's interest in radiopharmaceuticals is increasing, with total financing expected to exceed $12 billion in 2024, tripling from 2020 [10][11]. - In China, 17 radiopharmaceutical companies secured over $1.3 billion in funding in 2023, indicating a growing interest from venture capitalists in this sector. Notably, Xiantong Pharmaceutical raised over 1.1 billion RMB in July 2023, setting a record for the largest single financing in the domestic radiopharmaceutical market [10][11]. - The rising demand for radiopharmaceuticals is driven by the increasing cancer incidence and the aging population, alongside supportive policies that encourage innovation in radiopharmaceutical development [12]. Entrepreneurial Trends - The article discusses the trend of "small team" entrepreneurship, exemplified by Actithera's model of operating with a single employee. This approach is seen as a response to the evolving industry landscape that emphasizes ecosystem collaboration and resource optimization [14][15]. - The success of Actithera is attributed to leveraging resources from Merck and M Ventures, suggesting that future startups may adopt similar minimalist structures while focusing on unique technological advantages and collaborative ecosystems [14][15].

Core Viewpoint - The article highlights the growing importance of nuclear medicine and radiopharmaceuticals in the healthcare industry, emphasizing the unique advantages of nuclear drugs in precision medicine and the anticipated growth of the market in China, projected to reach 26 billion RMB by 2030 [1]. Summary by Sections Nuclear Drug Market Overview - Nuclear drugs, which are radioactive pharmaceuticals, play a crucial role in diagnosing cardiovascular diseases, neurodegenerative diseases, and treating malignant tumors [1]. - The Chinese market for radiopharmaceuticals is expected to reach 26 billion RMB by 2030, indicating significant growth potential [1]. Current Industry Challenges - The majority of radiopharmaceuticals available in China are generic versions of foreign products that have been on the market for many years, leading to severe homogenization and a lack of innovative, competitive drugs [1]. - The current state of nuclear drug research and development, along with future trends, is a key focus for the industry, with new technologies and methods emerging as critical areas for exploration and application [1]. Upcoming Event - An online seminar titled "Innovative Technologies and Methods in Nuclear Drug Development" is scheduled for July 24, 2025, organized by Instrument Information Network, featuring expert presentations on various topics related to nuclear drug innovation [2]. - The agenda includes discussions on nuclear drug innovation, radioactive isotope detection instruments, and advancements in molecular imaging equipment [2].

Core Viewpoint - The event "Cross-Integration Promotes Development" held in Zhangjiang highlights the importance of biomedicine as a key industry in Shanghai and Pudong, emphasizing the advantages of nuclear medicine over traditional therapies in targeting tumor cells and improving patient quality of life [1] Industry Insights - Biomedicine is identified as one of the three leading industries for development in Shanghai and Pudong [1] - Nuclear medicine offers more precise targeting of tumor cells, reducing damage to normal cells, thereby enhancing treatment efficacy and improving patient quality of life compared to traditional chemotherapy and targeted therapies [1] Company Developments - Zhangjiang High-Tech is creating a "tropical rainforest" industrial ecosystem aimed at breaking down industry boundaries through technological collaboration, spatial concentration, institutional breakthroughs, and capital linkage [1] - Crystal Core Biomedicine Technology (Nanjing) Co., Ltd. has chosen Zhangjiang for its unique advantages in building a nuclear medicine ecosystem, including advanced policies and regulatory frameworks [1] - Shanghai Baituo Biotech Co., Ltd. has developed an "Ai Zhangjiang" app to enhance the experience for park enterprises and talent, facilitating online communication for problem-solving [1]

Summary of Clinical CRO Industry Conference Call Industry Overview - The Clinical Research Organization (CRO) industry is experiencing a downturn in 2023-2024 due to economic conditions and a halt in innovative drug IPOs, leading to a decrease in project numbers and intensified price competition, causing profitability issues for some companies, which can only maintain cash flow [1][2][3] - Early signs of recovery are expected in 2025 with an increase in bidding projects, although price competition remains fierce, making low-priced projects unprofitable [1][2] - The industry is in a U-shaped bottoming phase, with prices expected to gradually rise over the next one to two years [1][4] Key Trends and Insights - Specific segments within clinical trials, such as cell therapy, continue to attract investment and have ample cash reserves [1][5] - Large pharmaceutical companies are forming their own clinical trial teams but face efficiency challenges, which may lead them to reconsider partnerships with CROs [1][6] - There is a significant increase in recognition of early clinical data from China by overseas pharmaceutical companies, with a surge in collaborative projects expected in the first half of 2025, indicating that China's clinical trial standards are nearing international levels [1][11] Financial Dynamics - Clinical trial contracts typically involve five payment milestones, but recent economic conditions have led to increased instances of delayed payments and debt, particularly affecting small to medium-sized CROs [1][12][13] - The cancellation rate of ongoing contracts in 2025 is showing improvement compared to 2023 and 2024 [1][14] Employment and Market Dynamics - The industry is witnessing a shift in personnel, with experienced professionals still able to find work despite a general trend of layoffs [1][15] - The recovery to pre-pandemic levels is projected to take one to two years, with large pharmaceutical companies using market turmoil to understand price floors [1][15] Competitive Landscape - The CRO industry is seeing a trend of mergers and acquisitions aimed at resource expansion and market share growth [1][32] - Small CROs are carving out niches in specific therapeutic areas, demonstrating strong expertise despite their smaller size [1][22] Pricing and Profitability - Price competition remains intense, with discounts now common in the industry, affecting profitability [1][3][25] - The pricing dynamics between large and small CROs are narrowing, with both types of companies reluctant to accept unprofitable contracts [1][21] Regulatory and Operational Challenges - Pharmaceutical companies face regulatory challenges when conducting self-assessments of key efficacy indicators, which can lead to external evaluations by third parties [1][7] - The CRO industry is adapting to the integration of AI technology, which has the potential to enhance efficiency in data management and patient services, although concerns about data security limit its full application [1][27][30][31] Conclusion - The Clinical CRO industry is navigating a complex landscape marked by economic challenges, evolving competitive dynamics, and regulatory scrutiny. While recovery is anticipated, it will require strategic adjustments and a focus on innovation to thrive in the coming years [1][2][4][15]

Group 1 - The Guangzhou Research Hospital Alliance held its second hospital-enterprise cooperation event, where a new action plan to enhance clinical trial capabilities was announced, aiming to reduce the clinical trial initiation time to within 18 weeks [1] - The alliance celebrated its first anniversary, reporting a total of 151 technology transfer projects with a value exceeding 1.51 billion yuan in the first quarter of 2025 [1] - In 2024, the alliance hospitals significantly improved their clinical trial capabilities, with a total of 1,789 new clinical trial projects, reflecting an average growth rate of 27%, and 339 leading trial projects, with a growth rate of 26% [1] Group 2 - In terms of intellectual property transfer, the alliance hospitals transferred 191 items in 2024, achieving a contract value of over 2.34 billion yuan, with total revenue from technological innovation reaching 35.29 billion yuan [1] - The average project initiation time for clinical trials was reduced to 36.5 days, and the number of ethical mutual recognition projects increased by 17.2% [1] - The director of the Guangzhou Medical University Affiliated Women and Children's Medical Center highlighted that the regional research alliance is an innovative exploration that enhances the traditional patient-centered service model by integrating research service scenarios [1] Group 3 - The First Affiliated Hospital of Jinan University is leading the establishment of a nuclear medicine innovation and transformation consortium, focusing on strategic cooperation projects related to the nuclear medicine industry [2] - The consortium aims to promote joint research and develop a comprehensive system for the entire process of domestic nuclear medicine from research and development to application [2]

Group 1 - The company Zhongfa Tianxin (Sichuan) Aviation Technology Co., Ltd. reported a nearly 10-fold year-on-year increase in order volume in Q1, boosting confidence in its new project, a light aircraft engine R&D and production base with an investment of 2.25 billion yuan [1] - Chengdu's private investment growth rate reached 14.6% in Q1, surpassing national and provincial averages, indicating a vibrant private investment environment [1][3] - The private economy contributes approximately 50% of Chengdu's economic output, over 60% of tax revenue, and 90% of technological innovation and urban employment, highlighting its role in high-quality development [3] Group 2 - Chengdu is actively broadening private investment channels to enhance economic stability and growth, with a focus on major projects and effective investments [3][5] - A total of 617 major projects with a total investment scale of 363.08 billion yuan have been compiled in Chengdu's infrastructure and industrial project opportunity lists [3] - Industrial investment's contribution to private investment is increasing, with a 33.5% year-on-year growth in private industrial investment in Q1, and significant growth in sectors like electronics and automotive [5] Group 3 - The rise in private investment in Chengdu is attributed to the coupling of institutional innovation and industrial evolution, as well as the resonance between policy precision and market sensitivity [7] - The low-altitude economy is seen as a strategic emerging industry, with significant investments such as the 3 billion yuan project by Wofei Chang Kong, which aims to establish a new benchmark in Chengdu [8][9] - Chengdu's low-altitude airspace management reforms have created a favorable environment for low-altitude economy enterprises, enhancing testing capabilities and operational efficiency [9][11] Group 4 - The local government has initiated measures to optimize the business environment, helping over 100,000 enterprises, which has led to increased confidence among private enterprises [12] - Notable investments include a 3.3 billion yuan rocket production base by a private company and a zero-radiation nuclear medicine R&D base, reflecting the growing confidence in Chengdu's investment climate [14] - The increase in private investment is seen as a validation of the effectiveness of institutional innovation in activating production factors, emphasizing the need for a clear regulatory framework to foster sustainable growth [14]