2、公司公众号：2023年10月27日，君实生物宣布，公司与北京大学、中国科学院微生物研究所（中科 院微生物所）、山西高等创新研究院、北京航空航天大学达成合作，共同开发猴痘重组蛋白疫苗。 3、2024年3月12日互动易：公司控股子公司君拓生物通过与科研院所和高校合作开发等形式持有疫苗相 关产品管线，如猴痘疫苗、寨卡疫苗等，目前均处于临床前开发阶段。 (免责声明：分析内容来源于互联网，不构成投资建议，请投资者根据不同行情独立判断) 资金分析 今日主力净流入-1663.24万，占比0.08%，行业排名46/55，连续3日被主力资金减仓；所属行业主力净流 入-5.89亿，连续3日被主力资金减仓。 来源：新浪证券-红岸工作室 12月29日，君实生物跌1.89%，成交额2.09亿元，换手率0.79%，总市值352.46亿元。 异动分析 创新药+猴痘概念+生物疫苗 1、2024年年报，公司具备完整的从创新药物的发现和开发、 在全球范围内的临床研究、 大规模生产到 商业化的全产业链能力， 旨在成为立足中国、 布局全球的创新医药公司。 公司坚持质量为本、 求真务 实、 诚信合规、 追求卓越的企业价值观， 致力于通过源头创新以 ...

Core Viewpoint - Junshi Biosciences aims to establish itself as a global innovative pharmaceutical company with a complete industry chain capability from drug discovery to commercialization, focusing on quality and innovation [2][3]. Company Overview - Junshi Biosciences, founded on December 27, 2012, and listed on July 15, 2020, specializes in the research and commercialization of monoclonal antibody drugs and other therapeutic proteins [7]. - The company's main revenue sources include drug sales (90.67%), technology licensing (8.74%), and other services (0.59%) [7]. Product Development - The company has developed a promising drug portfolio, including its core product, Toripalimab, which is the first domestically approved PD-1 monoclonal antibody in China, with 11 approved indications and one supplemental NDA under review [2]. - Toripalimab is also the first innovative biologic drug developed and produced in China to receive FDA approval, with approvals in multiple regions including the US, EU, and Australia [2]. - Junshi's self-developed Tifcemalimab is the first anti-tumor anti-BTLA monoclonal antibody to enter clinical development, currently undergoing two Phase III trials [2]. Vaccine Development - The company's subsidiary, JunTuo Biotech, is developing vaccine-related products, including monkeypox and Zika vaccines, which are currently in the preclinical development stage [3]. - A collaboration has been established with several research institutions and universities to jointly develop a recombinant protein vaccine for monkeypox [3]. Financial Performance - For the period from January to September 2025, Junshi Biosciences reported revenue of 1.806 billion yuan, a year-on-year increase of 42.06%, while the net profit attributable to the parent company was -596 million yuan, reflecting a year-on-year growth of 35.72% [8]. Market Position - As of September 30, 2025, Junshi Biosciences had 35,900 shareholders, with an average of 21,361 circulating shares per person, a decrease of 12.96% from the previous period [8]. - The company is positioned within the pharmaceutical and biotechnology industry, focusing on innovative drugs, precision medicine, and cancer treatment [8].

来源：新浪证券-红岸工作室 12月10日，君实生物涨0.58%，成交额1.73亿元，换手率0.63%，总市值372.69亿元。 2、公司公众号：2023年10月27日，君实生物宣布，公司与北京大学、中国科学院微生物研究所（中科 院微生物所）、山西高等创新研究院、北京航空航天大学达成合作，共同开发猴痘重组蛋白疫苗。 3、2024年3月12日互动易：公司控股子公司君拓生物通过与科研院所和高校合作开发等形式持有疫苗相 关产品管线，如猴痘疫苗、寨卡疫苗等，目前均处于临床前开发阶段。 (免责声明：分析内容来源于互联网，不构成投资建议，请投资者根据不同行情独立判断) 资金分析 今日主力净流入-704.25万，占比0.04%，行业排名44/55，连续2日被主力资金减仓；所属行业主力净流 入-2.12亿，连续3日被主力资金减仓。 区间今日近3日近5日近10日近20日主力净流入-704.25万-472.11万-1174.05万-8595.94万-2.43亿 主力持仓 主力没有控盘，筹码分布非常分散，主力成交额3973.27万，占总成交额的5.03%。 异动分析 创新药+猴痘概念+生物疫苗 1、2024年年报，公司具备完整的从创 ...

Core Viewpoint - The company, Junshi Biosciences, is focused on becoming a leading innovative pharmaceutical company with a complete industry chain capability, from drug discovery to commercialization, aiming for global reach [2]. Group 1: Company Overview - Junshi Biosciences has developed a strong portfolio of innovative drugs, including the first domestically approved PD-1 monoclonal antibody, Toripalimab, which has received approval for 11 indications in mainland China and is also approved in multiple countries [2]. - The company is actively involved in the development of vaccines, including monkeypox and Zika vaccines, in collaboration with research institutions and universities [3]. - As of September 30, 2025, Junshi Biosciences reported a revenue of 1.806 billion yuan, a year-on-year increase of 42.06%, while the net profit attributable to shareholders was -596 million yuan, reflecting a growth of 35.72% [8]. Group 2: Market Performance - On November 18, the stock price of Junshi Biosciences fell by 1.76%, with a trading volume of 274 million yuan and a turnover rate of 0.95%, resulting in a total market capitalization of 38.398 billion yuan [1]. - The stock has seen a net outflow of 46.6163 million yuan from major investors, indicating a trend of reduced holdings over the past three days [4][5]. - The average trading cost of the stock is 41.16 yuan, with the current price approaching a resistance level of 37.50 yuan, suggesting potential for a price correction if this level is not surpassed [6].

Core Viewpoint - Junshi Biosciences has demonstrated significant growth potential in the innovative drug and biopharmaceutical sectors, with a focus on developing first-in-class and best-in-class therapies, particularly in oncology and vaccine development [2][3]. Group 1: Company Overview - Junshi Biosciences is a Shanghai-based biopharmaceutical company established on December 27, 2012, and listed on July 15, 2020, specializing in monoclonal antibody drugs and therapeutic protein drug development [7]. - The company's main revenue sources include drug sales (90.67%), technology licensing (8.74%), and technical services (0.59%) [7]. - As of September 30, 2023, Junshi Biosciences reported a revenue of 1.806 billion yuan, a year-on-year increase of 42.06%, while the net profit attributable to shareholders was -596 million yuan, reflecting a year-on-year growth of 35.72% [8]. Group 2: Product Development and Pipeline - The company has a comprehensive capability in the entire industry chain from drug discovery to commercialization, aiming to establish a global presence [2]. - Core product Toripalimab is the first domestically approved PD-1 monoclonal antibody in China, with 11 approved indications and additional applications under review [2]. - The company is also developing Tifcemalimab, the first anti-BTLA monoclonal antibody to enter clinical development, with ongoing Phase III trials and multiple combination studies [2]. Group 3: Collaborations and Vaccine Development - Junshi Biosciences is collaborating with institutions such as Peking University and the Chinese Academy of Sciences to develop vaccines, including a monkeypox recombinant protein vaccine, currently in preclinical development [3]. - The company holds a pipeline of vaccine-related products, including those for monkeypox and Zika virus, through partnerships with research institutions and universities [3].

Core Viewpoint - Junshi Biosciences is positioned as a comprehensive innovative pharmaceutical company with capabilities spanning drug discovery, clinical research, large-scale production, and commercialization, aiming for a global footprint while being rooted in China [2] Group 1: Company Overview - Junshi Biosciences was established on December 27, 2012, and went public on July 15, 2020, focusing on the research and commercialization of monoclonal antibodies and therapeutic proteins [7] - The company's main revenue sources include 90.67% from drug sales, 8.74% from technology licensing, and 0.59% from technical services [7] - As of June 30, 2025, Junshi Biosciences reported a revenue of 1.168 billion yuan, a year-on-year increase of 48.64%, while the net profit attributable to shareholders was -413 million yuan, a year-on-year increase of 36.01% [8] Group 2: Product Pipeline and Innovations - The company has developed a significant product portfolio, including the first domestically approved PD-1 monoclonal antibody, Toripalimab, which has received approval for 11 indications in mainland China and is also approved in multiple countries including the US and EU [2] - Junshi Biosciences is advancing its pipeline with Tifcemalimab, the first anti-BTLA monoclonal antibody entering clinical development, currently undergoing two Phase III trials [2] - The company is also collaborating with various research institutions to develop vaccines, including monkeypox and Zika vaccines, which are currently in preclinical development [3] Group 3: Market Performance and Investor Sentiment - On September 23, Junshi Biosciences' stock fell by 4.26%, with a trading volume of 755 million yuan and a market capitalization of 42.69 billion yuan [1] - The stock has seen a net outflow of 48.4 million yuan from major investors, indicating a trend of reduced holdings over the past three days [4][5] - The average trading cost of the stock is 41.93 yuan, with the stock price approaching a resistance level of 42.00 yuan, suggesting potential volatility [6]

Core Viewpoint - Junshi Biosciences aims to establish itself as a global innovative pharmaceutical company with a complete industry chain capability from drug discovery to commercialization, focusing on quality and innovation [2][3]. Company Overview - Junshi Biosciences, founded on December 27, 2012, and listed on July 15, 2020, specializes in the research and commercialization of monoclonal antibody drugs and other therapeutic proteins [7]. - The company's main revenue sources include drug sales (90.67%), technology licensing (8.74%), and other services (0.59%) [7]. Product Development - The company has developed a promising drug portfolio, including its core product, Toripalimab, which is the first domestically approved PD-1 monoclonal antibody in China, with 11 approved indications and one supplemental NDA under review [2]. - Toripalimab is also the first innovative biologic drug developed and produced in China to receive FDA approval, with approvals in multiple regions including the U.S., EU, and Australia [2]. - Junshi is advancing its pipeline with Tifcemalimab, the first anti-BTLA monoclonal antibody entering clinical development, currently undergoing two Phase III trials [2]. Vaccine Development - The company is collaborating with various research institutions to develop vaccines, including monkeypox and Zika vaccines, which are currently in preclinical development [3]. - A partnership with Peking University and other institutions has been established to jointly develop a recombinant protein vaccine for monkeypox [3]. Financial Performance - For the first half of 2025, Junshi Biosciences reported revenue of 1.168 billion yuan, a year-on-year increase of 48.64%, while the net profit attributable to shareholders was -413 million yuan, reflecting a 36.01% increase [8]. - As of June 30, 2025, the number of shareholders increased by 5.88% to 31,200, with a decrease in average circulating shares per person by 5.56% [8]. Market Activity - On September 18, the stock price of Junshi Biosciences increased by 0.20%, with a trading volume of 909 million yuan and a turnover rate of 2.57%, resulting in a total market capitalization of 46.951 billion yuan [1]. - Recent trading activity indicates a net outflow of 31.6178 million yuan from main funds, with a lack of clear trends in main fund movements [4][5].

Core Viewpoint - Junshi Biosciences aims to establish itself as a global innovative pharmaceutical company with a complete industry chain capability from drug discovery to commercialization, focusing on quality and innovation [2][3]. Group 1: Company Overview - Junshi Biosciences was founded on December 27, 2012, and went public on July 15, 2020. Its main business involves the research and commercialization of monoclonal antibody drugs and other therapeutic proteins [7]. - The company's revenue composition includes 90.67% from drug sales, 8.74% from technology licensing, and 0.59% from technical services [7]. - As of June 30, 2025, Junshi Biosciences reported a revenue of 1.168 billion yuan, a year-on-year increase of 48.64%, and a net profit attributable to shareholders of -413 million yuan, a year-on-year increase of 36.01% [8]. Group 2: Product Development and Pipeline - The company has developed a strong product pipeline, including the first domestically approved PD-1 monoclonal antibody, Toripalimab, which has received approval for 11 indications in mainland China and is also approved in multiple countries including the US and EU [2]. - Junshi Biosciences is also developing Tifcemalimab, the world's first anti-BTLA monoclonal antibody, currently in two Phase III clinical trials [2]. - The company is collaborating with various research institutions to develop vaccines, including a monkeypox vaccine, which is currently in the preclinical development stage [3]. Group 3: Market Performance and Investor Sentiment - On September 11, Junshi Biosciences' stock fell by 1.59%, with a trading volume of 1.292 billion yuan and a market capitalization of 49.004 billion yuan [1]. - The stock has seen a net outflow of 92.6686 million yuan from major investors, indicating a lack of clear trend in investor sentiment [4][5]. - The average trading cost of the stock is 40.95 yuan, with the current price approaching a resistance level of 48.59 yuan, suggesting potential volatility [6].

Core Viewpoint - Junshi Biosciences aims to establish itself as a global innovative pharmaceutical company with a complete industry chain capability from drug discovery to commercialization, focusing on quality and innovation [2][3]. Company Overview - Junshi Biosciences, founded on December 27, 2012, and listed on July 15, 2020, specializes in the research and commercialization of monoclonal antibody drugs and other therapeutic proteins [7]. - The company's main revenue sources include drug sales (84.18%), technology licensing (12.08%), and other income (3.73%) [7]. Product Development - The company has developed a promising drug portfolio, including its core product, Toripalimab, which is the first domestically approved PD-1 monoclonal antibody in China, with 11 approved indications and one supplemental NDA under review [2]. - Toripalimab is also the first innovative biologic drug developed and produced in China to receive FDA approval, with approvals in multiple regions including the U.S., EU, and Australia [2]. - Junshi's self-developed Tifcemalimab is the first anti-tumor anti-BTLA monoclonal antibody to enter clinical development, currently undergoing two Phase III registration clinical trials [2]. Vaccine Development - The company is collaborating with various research institutions and universities to develop vaccine-related products, including monkeypox and Zika vaccines, which are currently in preclinical development [3]. - On October 27, 2023, Junshi announced a partnership with Peking University and other institutions to jointly develop a recombinant protein vaccine for monkeypox [3]. Financial Performance - For the period from January to March 2025, Junshi Biosciences reported revenue of 5.01 billion yuan, a year-on-year increase of 31.46%, while the net profit attributable to shareholders was -2.35 billion yuan, reflecting a year-on-year increase of 17.01% [8]. Market Position - As of March 31, 2025, Junshi Biosciences had 29,400 shareholders, with an average of 25,987 circulating shares per person, indicating a slight decrease in share distribution [8]. - The company operates within the pharmaceutical and biotechnology sector, specifically in the biopharmaceuticals category, and is involved in various concepts including monkeypox, precision medicine, and mid-cap stocks [8].

Core Viewpoint - Zhonghui Biotech-B (02627.HK) has made a significant debut on the Hong Kong Stock Exchange, with its stock price rising by 158% on the first day, marking the highest first-day gain for a new stock since 2025. The company's market capitalization reached HKD 20.5 billion, ranking fifth among 18 domestic vaccine companies [2][3]. Company Overview - Zhonghui Biotech is a relatively new player in the vaccine industry, having been established only 10 years ago and currently offering just one vaccine on the market, which has been available for less than two years [2]. - The founder, An Youcai, transitioned into the vaccine sector from a non-biological background, emphasizing a commitment to maintaining pricing integrity for its flu vaccine amidst market competition [2][4]. IPO and Financials - The company raised approximately HKD 383 million from its IPO, which will help alleviate its financial pressures, especially considering it had only HKD 115 million in cash at the end of Q1 2025 and needed to repay around HKD 400 million in bank loans within a year [3]. Product and Market Position - Zhonghui Biotech's flu vaccine is the only quadrivalent subunit flu vaccine available in the domestic market, priced at HKD 319 per dose, making it the most expensive flu vaccine in China [8]. - The company has chosen not to participate in the recent price cuts initiated by competitors, focusing instead on a market segment that prioritizes safety and high-quality vaccines [8]. - The flu vaccine generated sales of approximately HKD 259 million in 2024, and the company plans to expand its production capacity from 2 million doses to between 10 million and 15 million doses as it enters international markets [8][9]. Research and Development - Zhonghui Biotech has a pipeline of 11 vaccines, with 10 currently in development. The company is also working on a human diploid rabies vaccine, which is expected to have fewer adverse reactions compared to traditional vaccines [9]. - The company aims to differentiate its products through unique positioning and targeting specific consumer groups, with plans to develop vaccines that can compete with imported products and lead in global technology [10].