公 司 报 告 2025年08月26日 医药 东诚药业(002675.SZ) 18F-FDG增速回升，看好核药价值兑现 强烈推荐( 维持) 股价:17.61元 行情走势图 相关研究报告 【平安证券】东诚药业（002675.SZ）*年报点评*24 年研发投入加大，25年或迎多个重要节点*强烈推荐 20250227 【平安证券】东诚药业（002675.SZ）*季报点评 *24Q3单季度收入降幅收窄，创新核药进展顺利*强烈 推荐20241029 【平安证券】东诚药业（002675.SZ）*半年报点评* 原料药拖累短期业绩，持续看好核医学中长期发展前 事项： 公司公布2025年半年报，实现收入13.84亿元，同比下降2.60%；实现归母净 利润8865万元，同比下降20.70%；实现扣非后归母净利润8047万元，同比下 降23.90%；EPS为0.11元/股。公司业绩符合预期。 平安观点： 证 券 公 司 半 年 报 点 评 研 究 报 告 景*强烈推荐20240902 证券分析师 | 叶寅 | 投资咨询资格编号 | | --- | --- | | | S1060514100001 | | | BOT335 | | ...

创新核药管线持续收获进展。根据公司公告，公司氟[18F]化钠注射液已于2025 年5 月获批上市。截至 1H25，公司阿尔茨海默病诊断药物APN-1607 正在开展补充研究，和监管积极沟通中；公司氟[18F]思 睿肽注射液、氟[18F]阿法肽注射液正在进行III 期临床试验；氟[18F]纤抑素注射液、177Lu-LNC1011 注 射液正在进行II 期临床研究；还有多个诊断、治疗核药处于I期临床试验过程中。我们认为公司核药创 新管线有望持续丰富，为公司贡献新的增长点。 盈利预测与估值 18F-FDG 上半年放量良好，收入同比增长。1H25，公司核药收入5.03 亿元，同比+0.78%，核药板块毛 利率达67.27%，持续为公司贡献主要毛利润。核心产品18F-FDG 收入2.12 亿元，同比+8.72%。根据公 司公告，各省医保落实国家医保局《放射检查类医疗服务价格项目立项指南》的要求，将检查费与药费 分开，并陆续规范PET/CT 检查价格，我们认为有利于驱动PET/CT 药物的进一步放量。截至1H25，公 司公告已投入运营7 个以单光子药物为主、22 个正电子为主的核药房，目前7 个核药生产中心正在建设 中， ...

Group 1 - Company GuoDeWei plans to repurchase shares with a total investment of between 100 million to 150 million yuan, with a maximum repurchase price of 53 yuan per share, expecting to buy back between 1.89 million to 2.83 million shares, accounting for 0.78% to 1.17% of total share capital [1] - Company Shuangliang Energy has won a bid for the Gansu Energy Chemical Qinyang 2×660MW coal power project, with a total bid amount of 237 million yuan, representing 1.82% of the company's projected revenue for 2024 [1] - Company China Pacific Insurance reported a total premium income of 227.17 billion yuan from its two subsidiaries in the first five months, with a year-on-year growth of 10.2% for its life insurance subsidiary and 0.5% for its property insurance subsidiary [1][2] Group 2 - Company LuKang Pharmaceutical has received a drug registration certificate for injectable Cefoperazone Sodium, a third-generation cephalosporin with broad-spectrum antibacterial properties [3] - Company 吉祥航空 reported a 4.97% year-on-year increase in passenger turnover in May, with a seat occupancy rate of 86.14%, up 3.70% year-on-year [4][5] - Company DuRui Pharmaceutical's subsidiary has also received a drug registration certificate for injectable Cefoperazone Sodium [6] Group 3 - Company KeLan Software announced that part of the shares held by its controlling shareholder will be auctioned, involving 5.09 million shares, accounting for 1.07% of the total share capital [7] - Company HuaCan Optoelectronics received a government subsidy of 87.84 million yuan, which is expected to positively impact the company's pre-tax profit for 2025 [8] - Company JinZhi Technology has won a bid for projects from the State Grid and China Resources New Energy, with a total bid amount of 84.41 million yuan [9] Group 4 - Company Vision China completed a capital increase for its subsidiary, raising 100 million yuan to accelerate its layout in the AI field [11] - Company Youa Co. received a profit distribution of 96.03 million yuan from its investment in Changsha Bank [13] - Company WanBangde's subsidiary obtained a patent for a deuterated compound, enhancing the chemical stability and reducing toxicity [16] Group 5 - Company DongCheng Pharmaceutical completed the enrollment of all 488 participants in the Phase III clinical trial for Fluorine-18 PSMA peptide injection, aimed at prostate cancer diagnosis [17] - Company China Merchants Expressway announced that its first phase of medium-term notes for 2024 will pay interest on July 2, 2025, with a total issuance of 2.5 billion yuan and an interest rate of 2.35% [18] - Company JinPu Titanium's subsidiary has temporarily suspended production for maintenance due to falling product prices and high production costs [20] Group 6 - Company BeiLu Pharmaceutical received a marketing authorization for Iodinated Contrast Injection in Hungary, marking another approval in the EU [22] - Company LiXing Co. obtained an overseas investment certificate for its wholly-owned subsidiary in Singapore, with a total investment of 2.16 million yuan [24] - Company LangKun Technology won a garbage collection service project with a bid amount of 21.57 million yuan [26] Group 7 - Company KeRui International plans to transfer 55% of its subsidiary Tianjin ZhiRui's equity for 41.96 million yuan [28] - Company Nanjing JuLong intends to invest 130 million yuan to build a production project for special materials with an annual output of 40,000 tons [30] - Company NanShan Intelligent plans to use up to 50 million yuan of idle funds for cash management in safe and liquid financial products [32] Group 8 - Company GuangLian Aviation completed the business change registration for its subsidiary, involving the introduction of strategic investors [34] - Company XiaoFang Pharmaceutical signed a cooperation agreement to develop a new drug for hair loss treatment [36] - Company GuiZhou SanLi plans to sign a 150 million yuan technology transfer and development contract with Guangdong Pharmaceutical University [38] Group 9 - Company ST SiLong's subsidiary received a drug registration certificate for Famotidine injection, used for treating upper gastrointestinal bleeding [52] - Company ZhongKe Information's executive plans to reduce holdings of up to 180,000 shares, accounting for 0.06% of total share capital [53] - Company KeLun Pharmaceutical's injectable Cefoperazone Sodium/Chloride Sodium injection received drug registration approval [54] Group 10 - Company LuXin Investment plans to transfer 10.06% of its stake in LuXin HuiJin for 203 million yuan, aiming to focus on its main business [56] - Company Western Gold plans to acquire 100% of Xinjiang MeiSheng for 1.655 billion yuan [58] - Company JinTou City Development intends to swap assets worth 5.862 billion yuan, changing its main business to urban centralized heating [60]

东诚药业（002675）公告，控股子公司蓝纳成组织开展的氟[18F]思睿肽注射液III期临床试验已完成全 部488例受试者入组。该药物为靶向PSMA的放射性体内诊断药物，适用于前列腺癌患者的正电子发射 断层扫描(PET)成像。目前国内未有同类产品上市，国外已有同类产品上市，根据Lantheus公司的2024 年度报告显示，其产品18F-PSMA诊断药PYLARIFY，2024年实现销售收入11亿美元。氟[18F]思睿肽注 射液项目累计已投入研发费用约1.19亿元。 ...