当行业聚焦于管线竞赛与市场扩张时，以岭药业以其"理论-临床-科研-产业-教学"五位一体的独特模 式，生动诠释了"健康新潮，价值共生"的深刻内涵。 在财经网2025年度新消费·新经济评选中，以岭药业荣获"年度医药行业领军企业"称号。 这不仅是对其市场地位与科研实力的肯定，更是对其将企业发展融入"健康中国"宏大叙事、以切实行动 履行社会责任的全面认可。 2025年前三季度，研发投入达5.44亿元，占营收比重9.27%，持续领跑行业。更为关键的是，这种投入 是长期且系统的——2019至2024年间累计研发投入已突破50亿元，形成了"投入-转化-再投入"的良性循 环。 这种高强度、长周期的投入，目标明确：研发符合中国人生命基因与体质特点的"中国药"。 其成果直接体现在覆盖心脑血管、呼吸、肿瘤等重大疾病领域的17个专利中药上。2025年，中药1.1类 新药芪防鼻通片获批上市并成功进入中国澳门市场，成为中国澳门首个注册上市的中成药创新药。 它将企业的科技创新，通过国家公共医疗保障体系，转化为千千万万普通患者实实在在的获得感，极大 减轻了疾病带来的经济负担。这背后，是企业与国家医疗保障政策同向而行的主动作为，是将商业成功 ...

12月16日，由上海报业集团指导、智通财经主办的2025第八届界面财经年会在上海举行。在颁奖典礼中 发布了系列荣誉榜单，以岭药业荣获2025【常春奖】年度中医药创新杰出企业。 据悉，本次评选聚焦大健康行业的升级和变化，围绕业务标准、市场占比、模式创新、品牌美誉等维 度，综合社会各界的意见与建议，涵盖制药、医疗器械、互联网医疗、医疗机构、消费保健等领域，旨 在通过榜单致敬那些心怀悲悯之心，秉持向上之力，为改变人类身心痛苦而埋头进取的公司与个人。 企业的核心竞争力源于对研发创新的长期坚守。数据显示，2025年前三季度，以岭药业研发费用达5.44 亿元，占营业收入比重9.27%。近年来，公司研发投入持续处于行业领先水平，2019至2024年间累计研 发投入已超过50亿元。高强度的研发投入直接转化为丰硕的创新成果。2025年，以岭药业中药1.1类新 药芪防鼻通片获国家药监局批准上市，后成功在澳门注册上市，成为澳门首个注册上市的中成药创新 药，日前被纳入国家新版医保目录。目前，公司已研发上市17个专利中药，覆盖心脑血管、呼吸系统、 内分泌系统等重大疾病领域。此外，包括芪桂络痹通片、小儿连花清感颗粒在内的多款中药新药已进 ...

Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - The Federal Reserve's interest rate cut has been implemented as expected, and Alibaba has established the Qianwen C-end business group [2] - The education sector is experiencing slight pressure with increased competition among small domestic institutions, while leading companies like Alpha are stabilizing [4] - The coffee industry maintains high growth, with a significant increase in coffee bean imports, although short-term volatility risks are present due to seasonal factors [4] - The e-commerce sector is under slight pressure due to the domestic consumption environment, with fierce competition and AI efficiency improvements being a focus for leading platforms [4] - Music streaming platforms are seen as high-quality internet assets driven by domestic demand, with a recommendation to continue monitoring music subscription platforms [4] - The virtual assets and trading platforms are experiencing price fluctuations following the interest rate cut, with a focus on predictive markets empowering exchanges [4] - The automotive service sector is expanding, with JD Auto surpassing 3,500 stores nationwide, indicating a need for a balanced ecosystem in the after-sales market for new energy vehicles [4] - The internet medical sector is advancing with Alibaba Health's exclusive launch of a new drug, suggesting continued interest in this area [4] - The AI and cloud sectors are facing concerns over potential overvaluation, but the long-term trend remains positive, with a focus on cash flow-positive tech leaders [4] - The gaming industry is entering a new product cycle driven by evergreen games, with expectations for increased performance and valuation [4] Summary by Sections 1.1 Consumer & Internet - The non-essential consumption index has seen a cumulative decline of 0.76%, with notable stock performances from companies like Haidilao (+5.56%) and Luckin Coffee (-1.39%) [9][10] 1.2 Platform & Technology 1.2.1 Streaming Platforms - The media index has decreased by 0.63%, with Spotify (+5.82%) and NetEase Cloud Music (+3.39%) showing positive performance, while iQIYI (-6.70%) and Netflix (-5.04%) faced declines [18] 1.2.2 Virtual Assets & Internet Brokers - The global cryptocurrency market cap reached $323.21 billion, with Bitcoin and Ethereum prices at $90,307 and $3,085.32, respectively, reflecting slight increases [23] 1.2.3 Automotive Aftermarket - The comprehensive index has declined by 0.45%, with significant declines in stocks like AutoZone (-9.86%) and Advance Auto Parts (-11.63%) [30] 1.2.4 O2O - The internet technology index increased by 0.44%, with stocks like Beike (+0.58%) performing well, while Didi Global (-4.80%) and Cao Cao Mobility (-20.00%) faced challenges [37] 1.2.5 AI & Cloud - The Nasdaq internet index decreased by 0.97%, with notable declines in stocks like Oracle (-12.96%) and Nvidia (-4.05%), while Tesla (+0.87%) showed resilience [43][45]

12月12日，港股三大指数集体大涨。其中，恒生指数收涨1.75%，报25976.79点，恒生科技指数涨1.87%，恒生中国企业指数涨1.62%。全日大市成交额为 2427亿港元，南向资金净卖出52.87亿港元。 【导读】重磅合作，阿里健康大涨！国际机构唱多，网易大涨 | 序号 | 代码 | 名称 | 现价 | 涨跌 | 涨跌幅 | 成交额 | 年初至今 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | HSI | 恒生指数 | 25976.79c | 446.28 | 1.75% | 2427亿 | 29.50% | | 2 | HSTECH | 恒生科技 | 5638.05c | 103.46 | 1.87% | 765亿 | 26.18% | | 3 | HSBIO | 恒生生物科技 | 15267.73c | 217.74 | 1.45% | 129亿 | 77.09% | | ব | HSCEI | 恒生中国企业指数 | 9079.35c | 145.07 | 1.62% | 951亿 | 24.55% | | 5 | HSCI | 恒 ...

【导读】 重磅合作，阿里健康大涨！国际机构唱多，网易大涨 中国基金报记者 格林 12 月 12 日，港股三大指数集体大涨。其中，恒生指数收涨 1.75% ，报 25976.79 点，恒生科技指数涨 1.87% ，恒生中国企业指数涨 1.62% 。全日大市成交额为 2427 亿港元，南向资金净卖出 52.87 亿港元。 | 序号 | 代码 | 名称 | 现价 | 涨跌 | 涨跌幅 | 成交额 | 年初至今 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | HSI | 恒生指数 | 25976.79c | 446.28 | 1.75% | 2427亿 | 29.50% | | 2 | HSTECH | 恒生科技 | 5638.05c | 103.46 | 1.87% | 765亿 | 26.18% | | 3 | HSBIO | 恒生生物科技 | 15267.73c | 217.74 | 1.45% | 129亿 | 77.09% | | 4 | HSCEI | 恒生中国企业指数 | 9079.35c | 145.07 | 1.62% | 951亿 ...

Core Viewpoint - Alibaba Health and Yiling Pharmaceutical have signed a strategic cooperation agreement to launch a new innovative traditional Chinese medicine product for allergic rhinitis and to collaborate on patient education and chronic disease management [1][2]. Group 1: Product Launch and Clinical Data - Yiling Pharmaceutical's new drug, Qifang Nasal Tablets, for the treatment of persistent allergic rhinitis, will be launched on Alibaba Health's platform in December 2025 and has been included in the national medical insurance directory [1]. - Clinical trials published in the international journal "Ethnopharmacology" show that after four weeks of treatment, the total nasal symptom score improved by 21.8% and eye symptom improvement was 31% compared to the control group [1]. Group 2: Research and Development Investment - Yiling Pharmaceutical has invested over 5 billion yuan in R&D over the past six years, with R&D expenses accounting for nearly 10% of revenue in the first half of 2025 [2]. - The company has conducted over 40 evidence-based medical studies, with results published in prestigious journals such as the "Journal of the American Medical Association" and "Nature" [2]. Group 3: Health Management and Accessibility - Alibaba Health aims to transform allergic rhinitis management from "passive treatment" to "active health management" by utilizing tools such as pollen season alerts and symptom self-assessment [3]. - The company's pharmaceutical supply chain network spans hundreds of cities, ensuring accessibility to quality medical resources, and has integrated over 250,000 contracted healthcare professionals into its service system [2].

Core Insights - The event on December 8, organized by People's Daily Health Client and supported by Yiling Pharmaceutical, marked the strategic partnership between Yiling Pharmaceutical and Alibaba Health to create a digital disease center for allergic rhinitis, integrating traditional Chinese medicine with modern digital health services [1][4] - The launch of the new product, Qifang Bitong Pian, was announced, which will be exclusively available on Alibaba Health [1][7] Group 1: Strategic Collaboration - Yiling Pharmaceutical and Alibaba Health signed a strategic cooperation agreement to develop a digital disease center for allergic rhinitis, aiming to provide authoritative education and precise services for patients [1][4] - The partnership seeks to bridge traditional Chinese medicine with modern digital health ecosystems, enhancing patient access to treatment [1][4] Group 2: Clinical Insights and Treatment Approaches - Allergic rhinitis incidence is rising, significantly affecting daily life, with environmental factors like vegetation changes and climate fluctuations contributing to its prevalence [2] - Traditional Chinese medicine (TCM) offers distinct advantages in treating allergic rhinitis, focusing on immune function regulation and long-term symptom relief through methods like Qi tonification and spleen strengthening [5][6] Group 3: Product Innovation - Qifang Bitong Pian, a class 1 innovative traditional Chinese medicine developed by Yiling Pharmaceutical, is set to be launched in January 2025 and has been included in the national medical insurance directory [6] - The product combines classic formulas and new ingredients, demonstrating efficacy in alleviating symptoms of allergic rhinitis and improving overall patient safety [6] Group 4: Policy and Market Dynamics - The integration of TCM into the medical insurance system is evolving, with recent policies supporting the inclusion of TCM innovations and emphasizing the need for evidence-based practices [8] - Yiling Pharmaceutical is committed to technological innovation and market transformation, having established over 60 compliant traditional Chinese medicine cultivation bases across the country [9]

Group 1 - The Second China Respiratory Health Conference was held in Guangzhou, gathering over 1,200 experts and scholars in the field of respiratory diseases for academic exchanges [2] - Yiling Pharmaceutical showcased its innovative drug research results in the respiratory field and was granted membership in the "Traditional Chinese Medicine Respiratory Health Development Community" [2][9] - The conference marked the official launch of the "Traditional Chinese Medicine Respiratory Health Development Community" for 2026 [4] Group 2 - Academicians Zhang Boli and Zhong Nanshan visited Yiling Pharmaceutical's booth, where the company presented key respiratory products such as Lianhua Qingwen Capsules and Lianhua Qingke Tablets [3][6] - Lianhua Qingwen Capsules, an innovative drug for treating colds and influenza, has been included in the traditional Chinese medicine prevention and treatment plans in provinces like Shandong and Sichuan [3] - Yiling Pharmaceutical has established a unique development model based on the theory of network diseases, integrating theory, clinical practice, new drug development, industry, and education [6] Group 3 - The company is focusing on evidence-based medicine to validate the efficacy of traditional Chinese medicine, with over 120 SCI papers published on Lianhua Qingwen since its launch [6] - Yiling Pharmaceutical has built a comprehensive industrial capability, achieving standardized control from raw material planting to drug production and market circulation [6] - The company aims to actively participate in the community's initiatives, integrating internal and external resources for collaborative research and academic promotion in the respiratory health field [9][7]

Group 1 - Alibaba Health and Yiling Pharmaceutical signed a strategic cooperation agreement on December 8 [1] - The collaboration focuses on the launch of Yiling's innovative traditional Chinese medicine, Qifang Nasal Tablets, and aims to enhance patient education and chronic disease management [1] - Both companies will jointly establish and operate a "Digital Disease Center for Allergic Rhinitis," creating a comprehensive health management loop covering disease awareness, medical science popularization, treatment recommendations, standardized medication guidance, and long-term follow-up [1]

Core Viewpoint - Yiling Pharmaceutical's innovative traditional Chinese medicine, Qifang Nasal Tablets, has been included in the national medical insurance catalog for the first time, providing a new treatment option for patients with allergic rhinitis [1][2]. Group 1: Product and Innovation - Qifang Nasal Tablets is a Class 1 innovative drug aimed at treating persistent allergic rhinitis, which affects over 200 million patients in China, with a prevalence rate of 17% [3]. - The inclusion of Qifang Nasal Tablets in the national medical insurance directory is a recognition of its innovation, clinical efficacy, and safety [2]. - The formulation of Qifang Nasal Tablets is based on traditional Chinese medicine theories, integrating classic prescriptions and innovative ingredients to address both symptoms and underlying causes of allergic rhinitis [3][4]. Group 2: Clinical Efficacy and Research - The efficacy and safety of Qifang Nasal Tablets have been validated through rigorous clinical trials, including randomized, double-blind, placebo-controlled studies published in an international SCI journal [4]. - The clinical trials demonstrated a total effective rate of 74.71% in symptom improvement, with a patient satisfaction improvement rate of 89% [4]. - The drug exhibits multiple pharmacological effects, including anti-allergic, anti-inflammatory, and immune regulation, supporting its comprehensive treatment approach [4]. Group 3: Market Position and Competitors - Qifang Nasal Tablets offers a holistic regulatory advantage over other treatments for allergic rhinitis, addressing nasal, ocular, and systemic symptoms effectively [5]. - In addition to Qifang Nasal Tablets, Yiling Pharmaceutical has 11 other proprietary products included in the new medical insurance directory, enhancing its market presence [5].