Investment Rating - The report does not explicitly state an investment rating for the industry [2]. Core Insights - The pathology business is entering a fast track with the National Healthcare Security Administration issuing guidelines for pricing projects in pathology services, focusing on biopsy sampling, sample processing, and digitalization of pathology data, which is expected to enhance the application of AI in the field [3][11]. - The influenza activity has peaked across the board, with reported cases in southern provinces at 9.7%, down from 11.2% the previous week, but higher than the same period in previous years [3][11]. Market Weekly Review - The pharmaceutical and biotechnology sector fell by 0.14% from December 15 to December 19, outperforming the Wind All A index (-0.15%) and the CSI 300 index (-0.28%). The rebound was weak, with segments like pharmaceutical distribution (5.59%), offline pharmacies (4.69%), and hospitals (4.15%) leading gains, while chemical preparations (-2.1%), vaccines (-0.87%), and medical R&D outsourcing (-0.87%) lagged [3][8]. - Notable stock performances included Huaren Health (55.9%), Luyuan Pharmaceutical (36.8%), and Shuyupingmin (35.7%) with significant gains, while *ST Changyao (-24%), Yipinhong (-23.7%), and Rejing Biology (-16.5%) faced substantial declines [3][11]. Industry News and Key Company Announcements - The National Healthcare Security Administration's guidelines for pathology services are expected to drive high-quality development in the sector and create new scenarios for AI-assisted technology applications [11]. - Significant collaborations and approvals were reported, including Shanghai Jinmante's partnership with Jiangsu Kangning Jerey for a breakthrough therapy designation from the FDA for JSKN003, and Novo Nordisk's submission of a marketing application for CagriSema, which showed a weight loss of 22.7% over 68 weeks in clinical trials [12][13]. - Fosun Pharma's subsidiary received FDA approval to initiate a Phase I clinical trial for HLX18, a biosimilar to Nivolumab, targeting various cancers [13][14].

山东章鼓：收到山东证监局行政监管措施决定书 百奥泰：BAT5906上市许可申请获得受理 12月18日晚，百奥泰(688177)发布公告称，公司于近日收到国家药监局核准签发的关于公司在研药品维 拉西塔单抗注射液（简称"BAT5906"）药品上市许可申请的《受理通知书》。申请适应症为：新生血管 性（湿性）年龄相关性黄斑变性（nAMD）。 南华期货：H股公开发行价格为每股12港元 12月18日晚，山东章鼓(002598)发布公告称，公司及方树鹏、高玉新、赵晓芬、陈超因关联交易审议及 信息披露违规、募集资金使用违规、公司治理不规范等问题，被山东证监局采取责令改正的行政监管措 施。 南京医药：拟1.2亿元参设南药医疗器械投资公司 12月18日晚，南京医药(600713)发布公告称，公司拟与南京新工新兴产业投资管理有限公司、南京新工 医疗健康强链并购股权投资基金合伙企业（有限合伙）共同投资设立南京新工南药医疗器械强链并购股 权投资有限责任公司（暂定名，简称"南药医疗器械投资公司"），其中公司拟出资1.2亿元，占南药医 疗器械投资公司认缴出资总额的59.9%。南药医疗器械投资公司成立后，专项用于投资宁波江丰生物信 息技术有 ...