本届展会汇集了覆盖全国等级医院、零售药店、医药电商、基层医疗终端等全渠道的专业资源与合作伙 伴，吸引了来自政府机构、行业组织、产业园区、医药工业及相关服务业等专业观众参观、洽谈。"专 区专展"的展出模式更是极大程度地凝聚目标观众，展会一大亮点即是创新设立了"高增长渠道专区"， 精准锚定基层医疗与医药新零售两大高潜力赛道，旨在为企业破解渠道拓展困局提供一个精准、高效、 系统化的解决方案。 展会同期举办超过30+场热点主题会议论坛，涵盖商业流通、市场营销、政策法规、中医药、国际化、 研发创新、零售、热点赛道等模块。贴近市场新机遇的10+场特备活动，包括高增长渠道系列活动、中 医药主题系列活动、首发经济系列活动等。在精心策划的一系列创新互动活动中，"新耀登场"新品首发 show作为展会倾力打造的年度新品首发阵地，为行业注入了创新活力。重磅会议与多彩活动成为焦 点，参与人员络绎不绝，彰显了中国医药健康产业的蓬勃活力。 11月19日至21日，第91届全国药品交易会（PHARMCHINA）、中医药博览会、中国药店采购供应博览 会携手2025中国国际健康营养博览会（NHNE）重磅亮相南京国际博览中心。 作为中国医药制剂与大 ...

Core Viewpoint - Kanghong Pharmaceutical's stock has shown significant volatility, with a year-to-date increase of 70.47%, but recent trends indicate a decline over the past 20 and 60 days [1][2]. Financial Performance - For the period from January to September 2025, Kanghong Pharmaceutical reported a revenue of 3.624 billion yuan, representing a year-on-year growth of 6.23%, and a net profit attributable to shareholders of 1.033 billion yuan, with a growth of 6.08% [2]. - The company has distributed a total of 2.038 billion yuan in dividends since its A-share listing, with 1.04 billion yuan distributed over the past three years [3]. Shareholder Information - As of October 20, 2025, the number of shareholders for Kanghong Pharmaceutical increased by 3.53% to 24,900, while the average circulating shares per person decreased by 3.41% to 27,592 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 28.007 million shares, an increase of 732,000 shares from the previous period [3]. Stock Market Activity - On November 13, Kanghong Pharmaceutical's stock price rose by 2.08% to 32.39 yuan per share, with a trading volume of 139 million yuan and a turnover rate of 0.63% [1]. - The stock has appeared on the "Dragon and Tiger List" once this year, with the most recent occurrence on July 21 [1].

Core Viewpoint - Huahai Pharmaceutical's stock has shown fluctuations in recent trading, with a year-to-date increase of 7.20% and a recent decline over the past 20 and 60 days [1][2]. Financial Performance - For the period from January to September 2025, Huahai Pharmaceutical reported a revenue of 6.409 billion yuan, a year-on-year decrease of 11.57%, and a net profit attributable to shareholders of 380 million yuan, down 63.12% year-on-year [2]. - The company has cumulatively distributed 2.989 billion yuan in dividends since its A-share listing, with 1.016 billion yuan distributed in the last three years [3]. Stock Market Activity - As of November 13, Huahai Pharmaceutical's stock price was 18.89 yuan per share, with a market capitalization of 28.283 billion yuan [1]. - The stock experienced a net inflow of 6.4475 million yuan from main funds, with significant buying and selling activity noted [1]. Shareholder Information - As of September 30, 2025, the number of shareholders increased to 68,400, with an average of 21,889 circulating shares per person [2]. - Notable changes in institutional holdings include a decrease in shares held by China Europe Medical Health Mixed A and an increase by Hong Kong Central Clearing Limited [3].

Core Viewpoint - Kanghong Pharmaceutical has shown a significant stock price increase of 69.79% year-to-date, with a recent market capitalization of 29.72 billion yuan, indicating strong investor interest and potential growth in the pharmaceutical sector [1][2]. Financial Performance - For the period from January to September 2025, Kanghong Pharmaceutical reported a revenue of 3.624 billion yuan, reflecting a year-on-year growth of 6.23%, while the net profit attributable to shareholders was 1.033 billion yuan, up by 6.08% [2]. - The company has distributed a total of 2.038 billion yuan in dividends since its A-share listing, with 1.04 billion yuan distributed over the past three years [3]. Shareholder Information - As of October 20, 2025, the number of shareholders for Kanghong Pharmaceutical increased to 24,900, a rise of 3.53%, while the average number of tradable shares per shareholder decreased by 3.41% to 27,592 shares [2]. - The top ten circulating shareholders include significant institutional investors, with Hong Kong Central Clearing Limited holding 28.007 million shares, an increase of 730,000 shares from the previous period [3].

Core Viewpoint - The company, Guilin Sanjin, confirmed that its innovative drug platform does not currently utilize CAR-T technology, focusing instead on developing biological drugs for cancer and autoimmune diseases through its subsidiary, Baoshuan Biotech [2]. Group 1: Company Overview - Guilin Sanjin's innovative drug platform is primarily operated by its subsidiary, Baoshuan Biotech [2]. - Baoshuan Biotech is dedicated to the treatment of tumors and autoimmune diseases, emphasizing the development and screening of biological drugs targeting various cancers and autoimmune conditions [2]. Group 2: Technology Focus - The company has stated that it does not have any innovative drugs that incorporate CAR-T technology at this time [2].

Group 1 - The core point of the news is that Kanghong Pharmaceutical experienced a decline of 5.01% in its stock price, reaching 31.46 CNY per share, with a trading volume of 231 million CNY and a turnover rate of 1.05%, resulting in a total market capitalization of 28.985 billion CNY [1] - Kanghong Pharmaceutical, established on October 3, 1996, and listed on June 26, 2015, is based in Chengdu, Sichuan Province, and its main business involves the research, production, and sales of chemical drugs, traditional Chinese medicine, and biological products [1] - The revenue composition of Kanghong Pharmaceutical is as follows: biological drugs account for 54.83%, traditional Chinese medicine 32.49%, chemical drugs 12.50%, and other categories 0.15% [1] Group 2 - Morgan Fund has a significant holding in Kanghong Pharmaceutical, with the Morgan Healthcare Stock A fund (001766) holding 509,000 shares, representing 3.43% of the fund's net value, making it the tenth largest holding [2] - The Morgan Healthcare Stock A fund was established on October 21, 2015, with a current size of 545 million CNY, and has achieved a year-to-date return of 27.08%, ranking 2118 out of 4216 in its category [2] - The fund manager, Ye Min, has been in charge for 3 years and 102 days, with the fund's total assets amounting to 1.861 billion CNY, achieving the best return of 40.74% and the worst return of -5.8% during his tenure [2]

Core Insights - Kanghong Pharmaceutical's stock increased by 5.09% to 34.05 CNY per share, with a trading volume of 320 million CNY and a turnover rate of 1.40%, resulting in a total market capitalization of 31.371 billion CNY [1] Company Overview - Chengdu Kanghong Pharmaceutical Group Co., Ltd. was established on October 3, 1996, and went public on June 26, 2015. The company is located at 108 Shuxi Road, Jinniu District, Chengdu, Sichuan Province [1] - The main business areas include research, production, and sales of chemical drugs, traditional Chinese medicine, and biological products [1] Revenue Composition - The revenue composition of Kanghong Pharmaceutical is as follows: - Biological drugs: 54.83% - Traditional Chinese medicine: 32.49% - Chemical drugs: 12.50% - Others: 0.15% - Additional (supplementary): 0.03% [1] Shareholder Insights - Dongzheng Asset Management has a fund that ranks among the top ten circulating shareholders of Kanghong Pharmaceutical. The fund, Oriental Red Medical Upgrade Stock Initiation A (015052), entered the top ten in the third quarter, holding 6.2959 million shares, which is 0.92% of the circulating shares [2] - The fund has achieved a return of 55.78% year-to-date, ranking 484 out of 4216 in its category, and a return of 55.04% over the past year, ranking 530 out of 3889 [2] Fund Performance - The Oriental Red Medical Upgrade Stock Initiation A (015052) fund increased its holdings in Kanghong Pharmaceutical by 149.88 thousand shares in the third quarter, making it the third-largest heavy stock in the fund, with 9.16% of the fund's net value [3] - The fund manager, Jiang Qi, has been in position for 3 years and 218 days, with a total fund asset size of 2.546 billion CNY and a best return of 47.81% during the tenure [2][3]

Core Viewpoint - Fosun Pharma (02196.HK) announced a partnership agreement to establish a target fund with an investment of RMB 100 million, focusing on strategic emerging sectors such as chemical innovative drugs, biological drugs (including vaccines), high-end medical devices (including IVD), traditional Chinese medicine supplements, and synthetic biology [1]. Group 1: Company Investment and Market Performance - Fosun Pharma's subsidiary will participate as a limited partner (LP) in the target fund, which aims to invest in various strategic sectors [1]. - As of October 28, 2025, Fosun Pharma's stock closed at HKD 23.0, down 2.79%, with a trading volume of 5.34 million shares and a turnover of HKD 123 million [1]. - The stock has a market capitalization of HKD 12.799 billion, ranking 13th in the biopharmaceutical II industry [2]. Group 2: Analyst Ratings and Financial Metrics - The majority of investment banks have a "Buy" rating for Fosun Pharma, with one bank issuing a "Buy" rating in the last 90 days and a target price of HKD 23.2 [1]. - Key financial metrics for Fosun Pharma compared to the biopharmaceutical II industry average include: - ROE: 6.89% (Industry Average: 10.46%, Ranking: 15th) - Revenue: HKD 39.952 billion (Industry Average: HKD 2.54 billion, Ranking: 1st) - Net Profit Margin: 10.81% (Industry Average: -381.46%, Ranking: 14th) - Gross Margin: 47.89% (Industry Average: 59.38%, Ranking: 32nd) - Debt Ratio: 49.26% (Industry Average: 74.41%, Ranking: 33rd) [2].

Core Viewpoint - Fosun Pharma (02196.HK) announced its intention to invest RMB 100 million as a limited partner (LP) in a target fund, which will focus on strategic emerging sectors such as chemical innovative drugs, biopharmaceuticals (including vaccines), high-end medical devices (including IVD), traditional Chinese medicine supplements, and synthetic biology [1] Group 1 - The company will collaborate with 11 other investors to establish the target fund [1] - The investment is scheduled to be made on October 28, 2025 [1] - The target fund aims to invest in enterprises within specific strategic emerging sectors [1]

Core Viewpoint - Fosun Pharma (02196.HK) announced a partnership agreement to establish a target fund with an investment of RMB 100 million, focusing on strategic emerging sectors such as chemical innovative drugs, biological drugs (including vaccines), high-end medical devices (including IVD), traditional Chinese medicine supplements, and synthetic biology [1] Group 1 - The company will act as a Limited Partner (LP) in the investment, contributing RMB 100 million [1] - The target fund aims to invest in enterprises within strategic emerging sectors [1] - The investment will cover various fields including chemical innovative drugs, biological drugs, high-end medical devices, traditional Chinese medicine, and synthetic biology [1]