1月9日，九洲药业涨3.18%，成交额4.65亿元。两融数据显示，当日九洲药业获融资买入额5484.35万 元，融资偿还4945.99万元，融资净买入538.35万元。截至1月9日，九洲药业融资融券余额合计4.89亿 元。 融资方面，九洲药业当日融资买入5484.35万元。当前融资余额4.88亿元，占流通市值的2.82%，融资余 额超过近一年60%分位水平，处于较高位。 融券方面，九洲药业1月9日融券偿还0.00股，融券卖出2000.00股，按当日收盘价计算，卖出金额3.89万 元；融券余量4.50万股，融券余额87.48万元，低于近一年30%分位水平，处于低位。 分红方面，九洲药业A股上市后累计派现21.83亿元。近三年，累计派现12.45亿元。 机构持仓方面，截止2025年9月30日，九洲药业十大流通股东中，香港中央结算有限公司位居第四大流 通股东，持股2036.80万股，相比上期增加781.25万股。中欧医疗健康混合A（003095）位居第六大流通 股东，持股1740.30万股，相比上期增加397.67万股。华宝中证医疗ETF（512170）位居第七大流通股 东，持股1522.25万股，相比上期减少25 ...

Core Insights - On November 20, Jiuzhou Pharmaceutical experienced a decline of 2.09% with a trading volume of 487 million yuan, indicating market volatility [1] - The company reported a financing buy-in of 65.75 million yuan and a net financing buy of 6.15 million yuan on the same day, reflecting investor interest despite the stock price drop [1] - As of September 30, Jiuzhou Pharmaceutical achieved a revenue of 4.16 billion yuan, marking a year-on-year growth of 4.92%, and a net profit of 748 million yuan, which is an 18.51% increase compared to the previous year [2] Financing and Trading Activity - Jiuzhou Pharmaceutical's financing balance reached 620 million yuan, accounting for 3.52% of its market capitalization, indicating a high level of leverage [1] - The company’s margin trading showed a low short-selling balance of 2.68 million yuan, suggesting limited bearish sentiment among investors [1] - The stock's financing balance is above the 90th percentile of the past year, indicating a high level of investor engagement [1] Shareholder and Dividend Information - As of September 30, the number of Jiuzhou Pharmaceutical shareholders increased by 10.22% to 59,200, while the average number of circulating shares per shareholder decreased by 9.27% [2] - The company has distributed a total of 2.183 billion yuan in dividends since its A-share listing, with 1.245 billion yuan distributed over the last three years [3] - Major institutional shareholders include Hong Kong Central Clearing Limited and China Europe Medical Health Mixed A, with both increasing their holdings [3]

Core Viewpoint - Jiuzhou Pharmaceutical has seen a significant stock price increase, with a 5.31% rise on November 14, reaching 21.42 yuan per share, and a total market capitalization of 19.052 billion yuan, indicating strong investor interest and performance in the market [1]. Company Overview - Jiuzhou Pharmaceutical, established on July 13, 1998, and listed on October 10, 2014, is located in Taizhou, Zhejiang Province. The company specializes in the research, production, and sales of chemical raw materials and pharmaceutical intermediates [1]. - The revenue composition of Jiuzhou Pharmaceutical includes 79.81% from new drug custom development and manufacturing services (CDMO), 18.22% from specialty raw materials and intermediates, and 1.96% from other sources [1]. Shareholder Insights - Among the top circulating shareholders of Jiuzhou Pharmaceutical, a fund under China Europe Fund has increased its holdings. The China Europe Medical Health Mixed A Fund (003095) added 3.9767 million shares in the third quarter, bringing its total to 17.403 million shares, which represents 1.96% of the circulating shares [2]. - The fund has realized a floating profit of approximately 18.7952 million yuan today, with a total floating profit of 15.8367 million yuan during the four-day stock price increase [2]. Fund Manager Performance - The fund manager of China Europe Medical Health Mixed A, Ge Lan, has a tenure of 10 years and 293 days, with a total fund size of 43.544 billion yuan. The best return during her tenure is 109.26%, while the worst is -35.13% [3]. - Co-manager Zhao Lei has been in position for 134 days, managing a fund size of 32.954 billion yuan, with a best return of 8.82% and a worst return of 8.51% during his tenure [3].

Core Viewpoint - Jiuzhou Pharmaceutical's stock has shown significant performance, with a year-to-date increase of 53.80%, indicating strong market interest and potential growth in the pharmaceutical sector [1][2]. Financial Performance - For the period from January to September 2025, Jiuzhou Pharmaceutical achieved a revenue of 4.16 billion yuan, representing a year-on-year growth of 4.92%. The net profit attributable to shareholders was 748 million yuan, reflecting an 18.51% increase compared to the previous year [2]. - The company has distributed a total of 2.183 billion yuan in dividends since its A-share listing, with 1.245 billion yuan distributed over the last three years [3]. Stock Market Activity - As of November 12, Jiuzhou Pharmaceutical's stock price was 20.28 yuan per share, with a trading volume of 283 million yuan and a turnover rate of 1.59%. The total market capitalization stood at 18.038 billion yuan [1]. - The stock has seen a net inflow of 10.22 million yuan from major funds, with significant buying activity noted in large orders [1]. Shareholder Information - As of September 30, 2025, the number of shareholders increased to 59,200, a rise of 10.22%. The average number of circulating shares per shareholder decreased by 9.27% to 15,035 shares [2][3]. - Notable institutional shareholders include Hong Kong Central Clearing Limited and China Europe Medical Health Mixed A, both of which increased their holdings [3].

Core Viewpoint - Fujilai (301258) announced a delay in the implementation of its "Annual Production of 289 Tons of Specialty Raw Materials Expansion Project" to December 31, 2026, due to extended project review processes and the need for compliance with current standards [1] Group 1: Project Delay - The delay in the project is attributed to the need for identifying and proposing modifications to existing facilities and production lines to meet current standards [1] - The company aims to ensure the technological advancement, operational stability, and long-term benefits of the project by investing additional time in technical validation and optimization [1] Group 2: Investment Adjustment - Fujilai plans to increase the total investment for the "Fujilai (Shandong) Specialty Raw Materials and Intermediates CMO/CDMO Construction Project" from 250 million yuan to 310 million yuan, utilizing excess fundraising for the additional investment [1] - The internal investment structure of the project will also be adjusted accordingly [1]

Core Points - Fujilai announced an increase in the total investment for the "Fujilai (Shandong) Specialty API and Intermediate CMO/CDMO Construction Project" from 250 million to 310 million yuan, utilizing excess raised funds for the additional investment [2] Group 1 - The fifth meeting of the fourth board of directors is scheduled for November 10, 2025, to review the proposal regarding the increase in construction content and additional investment amount for certain fundraising projects [2] - The internal investment structure of the Shandong project will also be adjusted as part of this proposal [2] - The proposal is subject to approval by the shareholders' meeting [2]

Core Viewpoint - Jiuzhou Pharmaceutical's stock has experienced fluctuations, with a year-to-date increase of 46.67% but a recent decline in the last five trading days by 3.30% [1] Financial Performance - For the period from January to September 2025, Jiuzhou Pharmaceutical achieved a revenue of 4.16 billion yuan, representing a year-on-year growth of 4.92% [2] - The net profit attributable to the parent company for the same period was 748 million yuan, showing an increase of 18.51% year-on-year [2] Stock Market Activity - As of November 5, Jiuzhou Pharmaceutical's stock price was 19.34 yuan per share, with a market capitalization of 17.202 billion yuan [1] - The stock has seen a net outflow of main funds amounting to 21.4868 million yuan, with significant selling pressure observed [1] Shareholder Information - As of September 30, 2025, the number of Jiuzhou Pharmaceutical's shareholders increased to 59,200, up by 10.22% from the previous period [2] - The top ten circulating shareholders include significant institutional investors, with Hong Kong Central Clearing Limited holding 20.368 million shares, an increase of 7.8125 million shares [3] Dividend Distribution - Jiuzhou Pharmaceutical has distributed a total of 2.183 billion yuan in dividends since its A-share listing, with 1.245 billion yuan distributed over the last three years [3]

Core Viewpoint - Jiuzhou Pharmaceutical is a well-established manufacturer of chemical raw materials and pharmaceutical intermediates in China, with strong technical capabilities and scale advantages in the custom drug development and production service sector [1] Financial Performance - In Q3 2025, Jiuzhou Pharmaceutical reported a revenue of 4.16 billion yuan, ranking 5th in the industry out of 29 companies, surpassing the industry average of 2.547 billion yuan and the median of 607 million yuan, but still lagging behind the top competitors WuXi AppTec at 32.857 billion yuan and Kanglong Chemical at 10.086 billion yuan [2] - The company's net profit for the same period was 749 million yuan, also ranking 5th in the industry, above the average of 585 million yuan but below the median of 80.706 million yuan, with WuXi AppTec leading at 12.206 billion yuan and Tigermed at 1.092 billion yuan [2] Financial Ratios - As of Q3 2025, Jiuzhou Pharmaceutical's debt-to-asset ratio was 17.67%, down from 21.67% year-on-year and below the industry average of 22.79%, indicating lower debt pressure [3] - The gross profit margin for Q3 2025 was 37.55%, an increase from 34.75% year-on-year, and close to the industry average of 37.70%, reflecting improved profitability [3] Executive Compensation - The chairman, Hua Lirong, received a salary of 1.985 million yuan in 2024, a decrease of 528,000 yuan from 2023 [4] - The president, Mei Yijiang, earned 3.276 million yuan in 2024, down 339,000 yuan from the previous year [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 10.22% to 59,200, while the average number of shares held per shareholder decreased by 9.27% to 15,000 [5] - Major shareholders include Hong Kong Central Clearing Limited and various mutual funds, with notable increases in holdings from some shareholders [5] Business Highlights - The CDMO business continues to grow rapidly, driven by strong overseas demand and an increase in key clinical batches and NDA projects [5][6] - The TIDES business is progressing well, with the second phase of peptide production capacity set to launch [5][6] - The company is expanding its global footprint, with significant growth in the Japanese, Korean, and U.S. markets [5] Future Projections - Revenue forecasts for Jiuzhou Pharmaceutical are 5.57 billion yuan, 5.83 billion yuan, and 6.29 billion yuan for 2025, 2026, and 2027 respectively, with net profits projected at 949 million yuan, 1.052 billion yuan, and 1.207 billion yuan for the same years [5][6]

Core Viewpoint - Jiuzhou Pharmaceutical's stock has experienced fluctuations, with a year-to-date increase of 41.44% but a recent decline of 5.71% over the past five trading days [1] Financial Performance - For the period of January to September 2025, Jiuzhou Pharmaceutical achieved a revenue of 4.16 billion yuan, representing a year-on-year growth of 4.92%. The net profit attributable to shareholders was 748 million yuan, reflecting an 18.51% increase compared to the previous year [2] Stock Market Activity - As of October 23, Jiuzhou Pharmaceutical's stock price was 18.65 yuan per share, with a market capitalization of 16.588 billion yuan. The stock saw a net outflow of 10.89 million yuan in principal funds, with significant selling pressure from large orders [1] - The company has appeared on the "Dragon and Tiger List" once this year, with a net purchase of 51.1 million yuan on April 15 [1] Shareholder Information - As of September 30, 2025, Jiuzhou Pharmaceutical had 59,200 shareholders, an increase of 10.22% from the previous period. The average number of circulating shares per shareholder decreased by 9.27% to 15,035 shares [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited and several mutual funds, with notable increases in holdings for some [3] Dividend Distribution - Since its A-share listing, Jiuzhou Pharmaceutical has distributed a total of 2.183 billion yuan in dividends, with 1.245 billion yuan distributed over the past three years [3]

Core Viewpoint - Jiuzhou Pharmaceutical's stock has experienced fluctuations, with a year-to-date increase of 43.64% but a recent decline of 8.63% over the past five trading days [1] Financial Performance - For the period from January to September 2025, Jiuzhou Pharmaceutical achieved a revenue of 4.16 billion yuan, representing a year-on-year growth of 4.92% [2] - The net profit attributable to shareholders for the same period was 748 million yuan, reflecting an 18.51% increase year-on-year [2] Stock Market Activity - As of October 22, Jiuzhou Pharmaceutical's stock price was 18.94 yuan per share, with a market capitalization of 16.846 billion yuan [1] - The stock has seen a net outflow of 33.85 million yuan in principal funds, with significant selling pressure observed [1] Shareholder Information - As of September 30, 2025, the number of Jiuzhou Pharmaceutical's shareholders increased by 10.22% to 59,200 [2] - The average number of circulating shares per shareholder decreased by 9.27% to 15,035 shares [2] Dividend Distribution - Jiuzhou Pharmaceutical has distributed a total of 2.183 billion yuan in dividends since its A-share listing, with 1.245 billion yuan distributed over the past three years [3] Institutional Holdings - As of September 30, 2025, Hong Kong Central Clearing Limited is the fourth-largest circulating shareholder, holding 20.368 million shares, an increase of 7.8125 million shares from the previous period [3] - The top ten circulating shareholders include various funds, indicating a diverse institutional interest in the company [3]