今日聚焦 1、广深铁路：签订广州东站改造项目合作协议 总投资约166.6亿元 广深铁路公告称，公司于2025年7月25日与广州市人民政府、中国铁路广州局集团有限公司就广州东站 改造工程签订了《广州东站改造项目合作协议》。本项目总投资约166.6亿元，其中还建补偿投资约 22.28亿元，项目公司投资约144.32亿元。公司将以改造后仍需保留功能的既有资产规模对应的工程投资 约52.09亿元计算其在项目公司中的股份。本项目不会导致公司主营业务、经营范围发生变化，不会影 响公司业务独立性。 2、抚顺特钢：锦程沙洲拟5.6元/股要约收购5%公司股份 抚顺特钢公告称，宁波梅山保税港区锦程沙洲股权投资有限公司(简称"锦程沙洲")拟以5.6元/股的价 格，向除其及其一致行动人以外的抚顺特钢全体股东发出部分要约，收购数量为9860.5万股，占公司总 股本的5%。本次要约收购完成后，锦程沙洲及其一致行动人最多合计持有公司6.9亿股股份，占公司已 发行股份总数的34.99%。本次要约收购不以终止公司上市地位为目的，收购资金将来源于其自有资金 及自筹资金。 3、中国中免：上半年净利润26亿元 同比下降20.81% 中国中免公告称， ...

智通财经7月25日电，生物股份(600201.SH)公告称，公司全资子公司金宇保灵收到农业农村部颁发的猫 传染性腹膜炎mRNA疫苗临床试验批件。该疫苗由金宇保灵与北京合生基因科技有限公司联合开发，旨 在解决目前尚无商品化疫苗可用的问题。项目累计研发投入约620万元。公司成为全国首家获得猫传染 性腹膜炎兽用核酸疫苗临床批件的公司，由于兽用疫苗产品研发周期长，存在不确定性。 生物股份：子公司获得猫传染性腹膜炎mRNA疫苗临床试验批件 ...

生物股份（600201）公告，近日，全资子公司金宇保灵生物药品有限公司(简称"金宇保灵")收到了农业 农村部颁发的猫传染性腹膜炎mRNA疫苗临床试验批件(批件号：2025062)。猫传染性腹膜炎mRNA疫苗 属于新型创新疫苗，公司率先攻克抗原设计及核酸疫苗产业化难点，成为全国首家获得猫传染性腹膜炎 兽用核酸疫苗临床批件的公司，为公司后续兽用核酸疫苗发展奠定基础。 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Insights - The company's Q1 2025 performance showed strong growth, with operating revenue reaching 822 million yuan, a year-on-year increase of 20.00%, and net profit attributable to shareholders of 116 million yuan, up 28.45% year-on-year [4][6] - The company is actively building a pet ecosystem, enhancing its second growth curve through a strategic restructuring of its industrial chain [6] - The company has achieved a gross margin of 41.23% and a net profit margin of 14.62% in Q1 2025, indicating improved profitability [6] Summary by Sections Financial Performance - In Q1 2025, the company reported operating revenue of 822 million yuan, a 20.00% increase year-on-year, and a net profit of 116 million yuan, up 28.45% year-on-year [4][6] - The gross margin improved to 41.23%, an increase of 0.47 percentage points year-on-year, while the net profit margin rose to 14.62%, up 0.13 percentage points year-on-year [6] Business Strategy - The company is implementing a "Three-Rui Synergy" strategy to reconstruct its industrial chain, focusing on deep collaboration among its three core segments: RuiPu Bio, RuiPai Pet Hospital, and ZhongRui Supply Chain [6] - The pet segment achieved sales revenue of 689 million yuan in 2024, accounting for 22.47% of total revenue, an increase of 4.35 percentage points year-on-year [6] Future Outlook - Revenue forecasts for 2025-2027 have been adjusted to 3.658 billion, 4.203 billion, and 4.709 billion yuan, representing year-on-year growth rates of 19.14%, 14.92%, and 12.04% respectively [6][7] - Net profit forecasts for the same period are 498 million, 561 million, and 637 million yuan, with year-on-year growth rates of 65.64%, 12.70%, and 13.49% respectively [6][7]