日前，由数字化智库型财经媒体领跑者《21世纪经济报道》与21世纪新健康研究院发起2025年第九届21 世纪大健康产业竞争力研究「阳光」案例正式揭晓。作为大健康产业领域极具权威性的年度评选成果， 本次公布的案例集中展现了当下产业内的创新活力、技术突破与实践典范，为行业高质量发展树立了鲜 明标杆。 管线深耕进入收获期 作为一家专注于创新药及疫苗开发、制造及商业化的生物制药企业，云顶新耀自2017年起通过license-in 筑牢发展根基，历经多年布局，云顶新耀在肾科、感染性疾病及自身免疫性疾病等核心领域的产品管线 已正式迈入关键收获期，多款核心产品表现亮眼，成为业绩增长的核心引擎。 肾科治疗领域大单品耐赋康®的市场表现尤为突出。2025年上半年，该产品实现销售收入3.03亿元，同 比大幅增长81%；1-9月累计销售收入已近10亿元。云顶新耀预估耐赋康®2025年全年销售额将达12-14 亿元，并有望在2026年持续高速增长，冲击24-26亿元的销售目标。 产能与全球布局的协同发力为增长保驾护航。今年8月，耐赋康®扩产补充申请获中国国家药品监督管 理局正式批准。作为全球首个且目前唯一在中、美、欧三地均获得完全批准的 ...

12月15日，港股创新药企云顶新耀(1952.HK)正式发布2030年发展战略，勾勒出未来五年成为全球领先 综合性生物制药公司的发展蓝图。与此同时，公司董事及主要股东增持股份，以实际行动传递对公司未 来发展的坚定信心。 云顶新耀2030战略以"BD合作+自研"双轮驱动为核心，明确通过引进创新资产与自主研发并行推进，实 现商业化创造确定性价值、自研创造成长性价值。 规划显示，到2030年公司计划实现收入规模超过150亿元人民币，其中现有管线销售收入约90亿元，新 引进管线销售收入约60亿元，并探索潜在对外授权(License-out)收入，预计2025至2030年年复合增长率 超过50%。 产品管线方面，公司将聚焦肾科、自身免疫、急重症、心血管及眼科等核心方向。通过引进创新资产与 自主研发并行推进，到2030年形成高价值产品组合，并拓展其他蓝海领域的大单品。到2030年，公司计 划将商业化产品数量提升至20款以上，包括耐赋康®、维适平®、依嘉®、头孢吡肟-他尼硼巴坦及乐瑞 泊®(莱达西贝普)等。 研发平台建设上，公司将以全球权益的mRNA平台为基础，到2030年，在mRNA in vivo CAR-T和mRNA ...

Core Viewpoint - The company, CloudTop New Medicine (1952.HK), reported strong mid-year performance for the period ending June 30, 2025, showcasing significant growth in both commercialization and R&D efforts, laying a solid foundation for becoming a leading global Biopharma company [1] Financial Performance - Total revenue for the first half of 2025 reached RMB 446 million, a substantial increase of 48% year-on-year [1] - Operating expenses as a percentage of revenue decreased by 40.1 percentage points, indicating improved operational efficiency [1] - Non-IFRS total loss narrowed significantly by 31%, with a gross margin of 76.4% after excluding non-cash items [1] - The company has a strong cash reserve of RMB 1.6 billion, bolstered by a recent fundraising of HKD 1.553 billion [1] Product Performance - The kidney disease treatment product, Nefukang®, saw impressive sales of RMB 303 million in the first half, an increase of 81% year-on-year [2] - Cumulative sales from January to August reached RMB 825 million, with August alone generating RMB 520 million [2] - The global first fluoroquinolone antibiotic, Yijia®, also showed steady growth with revenue of RMB 143 million, a 6% increase year-on-year [2] Strategic Initiatives - The company is advancing its "dual-wheel drive" strategy, focusing on high-potential products and enhancing its R&D capabilities [3] - The personalized tumor therapeutic vaccine EVM16 has initiated its first human clinical trial in China, with positive preliminary data [3] - The CAR-T project EVM18 is expected to start clinical trials by the end of 2025, with significant progress in its global R&D pipeline [4] Future Outlook - The company aims to achieve annual sales of RMB 1.6 to 1.8 billion and expects to reach operational profitability in the second half of 2025 [1][2] - The strategic focus will remain on the commercialization of Nefukang® and Weishiping®, alongside leveraging AI and mRNA technology platforms for early-stage R&D [5] - The company is targeting a peak sales potential exceeding RMB 25 billion in the future [5]

Core Viewpoint - The company, Cloudtop New Horizon (01952.HK), reported a significant revenue increase of RMB 144.6 million or 48.0% to RMB 446.1 million for the six months ending June 30, 2025, primarily driven by the growth of its commercialized products, NAI Fukan® and Yijia® [1] Revenue Growth - Revenue growth is attributed to the inclusion of NAI Fukan® in the national medical insurance drug list, which has become a major growth driver [1] - Yijia® continues to deepen its market penetration, contributing to sustained revenue growth [1] - NAI Fukan® successfully launched in Taiwan, marking a significant milestone for the company [1] - The introduction of Weishiping® into the Singapore market in the first half of 2025 highlights the company's progress in expanding international markets and improving drug accessibility [1] Research and Development - R&D expenditure decreased from RMB 253.2 million for the six months ending June 30, 2024, to RMB 195.2 million for the same period in 2025, reflecting strategic resource optimization and a focus on core pipeline breakthroughs [1] - The company achieved multiple R&D milestones in the first half of the year while actively optimizing its R&D strategy [1] - The company is accelerating the development of autologous CAR-T and mRNA platforms to prepare for the next phase of research and clinical trials, while continuing to develop the value of EVER001 (Civorebrutinib) [1]

Core Insights - The company reported a revenue of 446 million yuan for the six months ending June 30, 2025, representing a year-on-year increase of 47.96% [1] - Gross profit reached 299 million yuan, up 29.56% compared to the previous year [1] - The loss attributable to shareholders narrowed to 250 million yuan, a reduction of 60.5% year-on-year [1] Revenue Growth Drivers - Revenue growth was primarily driven by the continued market expansion of Naisukan® and Yijia® in commercialized markets [1] - In the Chinese market, Naisukan® was included in the national medical insurance drug list, significantly boosting its revenue for the six months ending June 30, 2025 [1] - Yijia®'s market penetration continued to deepen, contributing to sustained revenue growth [1] International Market Expansion - Naisukan® successfully launched in Taiwan, marking a significant milestone for the company [1] - In the international market, Weishiping® was successfully introduced to the Singapore market in the first half of 2025 [1] - These achievements highlight the company's progress in expanding international markets and improving drug accessibility [1]