12月22日，格隆汇于线上举办"科技赋能·资本破局"分享会。在格隆汇"金格奖"年度卓越公司评选中， 东曜药业(1875.HK)凭借其在生物医药领域的持续创新力与稳健成长表现，荣获"年度卓越生物医药企 业"奖项。 据悉，"年度卓越生物医药企业"奖项聚焦于企业的研发创新能力、核心产品竞争力、商业化进展及可持 续发展潜力，旨在表彰在技术突破、管线布局、临床价值及市场前景方面表现突出，并为行业与投资者 创造长期价值的优质生物科技公司。评选综合了行业专家评审、定量数据分析及市场反馈等多维度考 量。 在当前生物科技行业聚焦差异化创新与精益发展的背景下，东曜药业获此殊荣，标志着市场对其独特发 展路径与平台价值的深度认可。 一体化生态布局，稳健迈向价值兑现期 凭借前瞻的战略卡位与扎实的平台能力，东曜药业如今已将各项前瞻布局转化为切实的财务表现与成长 动能，并勾勒出一条清晰的加速增长的价值曲线。 那么，东曜药业做对了什么？ 01 打造差异化ADC技术平台，构筑核心竞争力壁垒 从战略视角来看，东曜药业的独到之处，首先在于其前瞻性地聚焦ADC这一技术壁垒高、市场前景广 阔的黄金赛道，不仅深耕ADC自主研发，更成功构建了覆盖研发、工 ...

Core Viewpoint - Dongyao Pharmaceutical (1875.HK) has been awarded the "Annual Outstanding Biopharmaceutical Company" for its continuous innovation and stable growth in the biopharmaceutical sector, reflecting market recognition of its unique development path and platform value [1][3]. Group 1: Company Achievements - The "Annual Outstanding Biopharmaceutical Company" award focuses on R&D innovation capability, core product competitiveness, commercialization progress, and sustainable development potential, recognizing companies that create long-term value for the industry and investors [3]. - Dongyao Pharmaceutical has established a differentiated ADC (Antibody-Drug Conjugate) technology platform, creating a competitive barrier and becoming one of the few global CDMO service companies with a full industry chain for ADCs [4][5]. Group 2: Strategic Positioning - The company has strategically focused on the ADC sector, which has high technical barriers and broad market prospects, successfully building an integrated platform covering R&D, process development, clinical trials, regulatory approval, and commercial production [4][5]. - Dongyao's platform ecosystem enhances its competitive advantage by collaborating with various domestic and international pharmaceutical companies, creating a virtuous cycle of internal R&D and external service empowerment [5]. Group 3: Financial Performance - Dongyao Pharmaceutical has translated its strategic positioning into tangible financial performance, with its commercialized product, Puxintin® (Bevacizumab Injection), expanding globally and providing stable cash flow [7]. - The CDMO business, particularly in the ADC field, has seen a continuous increase in orders, contributing to revenue growth and optimizing the company's overall profit model, with 16 new projects added by mid-2025, including 14 ADC projects [8]. Group 4: Future Outlook - The recognition of Dongyao Pharmaceutical as an outstanding biopharmaceutical company underscores the market's affirmation of its ADC technology platform and full industry chain capabilities [10]. - The company's development path illustrates that true excellence in the biopharmaceutical industry requires not only cutting-edge scientific insights but also the ability to convert technological advantages into sustainable commercialization and platform ecosystems [10].

随着一年即将进入尾声，回望今年港股市场，创新药板块表现最为亮眼。富途行情数据显示，截至12月 9日，生物医药B类股年内涨幅达119%，51只成分股中涨幅超过1倍的多达25只。 近期广发证券发布研报称，CDMO行业业绩已触底回升，基于新签订单及新分子的旺盛研发需求，各公 司2026年有望延续业绩优秀增长的趋势。其同时看好基本面强劲产能优势显著伴随行业复苏及新分子业 务高景气度受益的企业，以及伴随产能利用率提升带动盈利能力改善利润弹性空间大的公司。 ADC被誉为"生物导弹"，其生产工艺之复杂、技术门槛之高，对企业的商业化生产能力及质量体系提出 了相当高的要求。在乐普生物这一项目中面临着供应链整合、时间紧迫及合规上市等多重挑战，东曜药 业能够助力客户突破重围，正是得益于其构建的三大核心能力矩阵。 首先，作为国内少有的ADC一站式CDMO开发企业，东曜药业在此次项目中凭借其预先构建的一站式 ADC服务平台，提供了从单抗原料药生产、ADC 偶联原液制备到制剂生产的端到端覆盖，实现了全流 程的无缝衔接与高效协同，为项目的成功推进奠定了坚实基础。 遵循这一方向笔者留意到东曜药业近期利好不断。此前，公司成功助力合作伙伴乐普生 ...