2025 年 12 月 09 日 星期二 汽车板块：市场预期 12 月锂电排产环比增加，行业景气度向好，产业链产能利用率提升，并带动涨价。周一锂电池板块 拉升上涨，宁德时代（3750 HK）涨 3.3%；赣锋锂业（1772 HK）涨 7.0%。 ➢ 每日大市点评 12 月 8 日，恒生指数再次跌穿 26,000 点大关。周一港股震荡走低，恒生指数下跌 319 点（1.2%），收报 25,765 点；恒 生科技指数收盘与上周五持平；全天大市成交额 2,062 亿元。市场在观望美联储本周议息的同时，缺乏强力催化，市场 预期美联储将降息 0.25%。港股通净流入 15.4 亿元。盘面上，中证监称对优质券商适当松绑，进一步优化风控指标，市 场预期券商行业经历严监管后有望进入"政策宽松期"。中资券商股普遍上扬，华泰证券（6886 HK）涨 5.2%；招商证 劵（6099 HK）升 2.8%；中信证劵（6030 HK）涨 1.7%。周一内银股普遍下跌，建设银行（939 HK）跌 4.0%；招商银行 （3968 HK）跌 3.5%；工商银行（1398 HK）跌 3.5%。另一方面，市场担忧 Labubu 热度消退，明年销售 ...

医保"双目录" 自2026年1月1日起实施 ① 首版商保创新药目录：19个药品 14个肿瘤治疗药、2个阿尔茨海默 ② 纳入商保创新药目录 需价格协商，预计降20%-40% 百万元的抗癌药，5款CAR-T在内 ③不受DRG/DIP限制 有望推进"医保+商保"一站式结算 1 医保"双目录"：自2026年实施 基本医保目录+商保创新药目录 | 分类 | | 2024年 | 2025年 | 变化 | | --- | --- | --- | --- | --- | | 3. 基本 | 田茶 | 639~脂 | ୧3d | 0 | | 医保自录 | 乙类 | 2520 | 2614 | dd (新增114种) | | 商保创新药品目录 | | | 19 | 19 | 一直以来，基本医疗保险（医保），可以报销50%至8 0%的医疗费用，一定程度上，解 决了大众 "看病贵" 的问题，也减轻了大家的医疗费用支出压力。 不过，只有纳入医保目录的药品，医保基金才能按规定予以支付。因此，哪些药品能够 纳入医保进行报销，就成为大家关注的焦点。 2 0 25 年 1 2 月 7 日 ， 医 保 局 正 式 印 发 《 国 家 基 本 医 ...

Core Viewpoint - WuXi AppTec's subsidiary, WuXi Biologics, has submitted a supplementary application for the domestic production of a viral vector for its CAR-T cell therapy product, Rikeolunai Injection, which targets blood cancers. This move aims to enhance the stability of supply and reduce production costs, thereby improving the product's market competitiveness and potential for insurance negotiations [3][6][7]. Group 1: Product Development and Approval - WuXi Biologics' Rikeolunai Injection has received approval for three indications in the domestic market, focusing on hematological malignancies [3]. - The number of CAR-T cell therapy products approved in China has reached seven, but high prices, such as Rikeolunai Injection's price of 1.29 million yuan per dose, limit accessibility [6]. Group 2: Cost and Supply Chain Challenges - The high cost of viral vectors, which are crucial for CAR-T cell therapy production, has been a significant barrier to market entry and insurance negotiations. The industry has faced multiple failures in price negotiations with national insurance [6][7]. - The company has developed a domestically produced viral vector (JWLV011) to mitigate supply chain issues and reduce costs associated with foreign suppliers [6][8]. Group 3: Clinical Research and Efficacy - A Phase II study has shown that the Rikeolunai Injection produced with the new domestic viral vector has comparable clinical efficacy to that produced with existing foreign vectors, with an overall response rate (ORR) of 66.67% and a complete response (CR) rate of 41.67% observed after three months [8].