盈利拐点初现 在39只创新药概念股中，百济神州的业绩情况最为令人瞩目。2025年，百济神州将首次实现全年盈利。 百济神州2025年业绩快报显示，公司2025年实现营业收入382.05亿元，同比增长40.4%；归属净利润约为14.22亿元，同比扭亏。 随着A股2025年业绩快报披露季落下帷幕，创新药板块交出了一份颇具含金量的答卷。Wind数据显示，已披露2025年业绩快报的39只创新药概念股中，29股 实现营业收入同比增长，25股实现净利增长或减亏。其中百济神州（688235）、荣昌生物、微芯生物等个股更是实现扭亏。纵观个股营收、净利增长原因， 新药放量及BD授权收入成为主要因素。从"讲故事"到"看业绩"，这份成绩单印证了创新药产业复苏的势头。在业内人士看来，随着更多创新产品进入商业 化阶段以及政策环境的不断优化，中国创新药行业有望为全球患者提供更多"中国方案"。 百济神州表示，报告期内，公司营业收入增长40.4%，主要得益于百悦泽以及安进公司授权产品和百泽安的销售增长。公司实现盈利主要得益于产品收入增 长和费用管理推动的经营效率提升。 | 序号 | 证券代码 ト | 证券简称 | レ | | 业绩快报.归属母 ...

智翔金泰2019年至2025年归母净利润分别为-1.58亿元、-3.73亿元、-3.22亿元、-5.76亿元、-8.01亿 元、-7.97亿元、-5.36亿元。 智翔金泰表示，营业收入大幅增长主要是由于公司推动首款商业化产品赛立奇单抗注射液（金立希 ） 的市场扩张，产品销售收入稳步增长；同时，GR1803注射液授权许可及商业化协议的合同履约义务所 对应的授权许可收入金额较大，对公司当期净利润产生了积极影响。 智翔金泰成立于2015年，2023年6月登陆上交所科创板。公司主营业务为抗体药物的研发、生产与销 售。 拉长时间线来看，在有据可查的时间内，智翔金泰均为亏损状态，2019年至2024年归母净利润分别 为-1.58亿元、-3.73亿元、-3.22亿元、-5.76亿元、-8.01亿元、-7.97亿元。尤其是最近几年，亏损额较此 前急剧扩大，年亏损均在5亿元以上，似乎看不到盈利的迹象。 2月26日晚间，智翔金泰发布业绩快报，2025年实现营业收入2.31亿元，同比增长666.65%；归母净利润 亏损5.36亿元，较上年同期亏损收窄32.74%。 报告期末，公司总资产为299,265.56万元，较上年同期下降4. ...

Core Viewpoint - Zhixiang Jintai (688443) forecasts a net profit loss of between 481 million to 587 million yuan for 2025, with a year-on-year reduction in losses by 26.32% to 39.71% [1] Group 1: Financial Performance - The company expects significant revenue growth compared to the previous year, primarily driven by steady sales of its first commercial product, Saliqi monoclonal antibody injection (Jinlixi) [1] - The revenue increase is also attributed to the recognition of licensing income from the GR1803 injection licensing and commercialization agreement [1] Group 2: Research and Development - The company maintains a high level of R&D investment as multiple products enter clinical research phases and core products advance to critical clinical trial stages [1] - There will be no share-based payment expenses in 2025 due to the expiration of the equity incentive plan for the core team implemented in 2022, leading to a reduction in corresponding expenses [1] Group 3: Overall Outlook - Despite the anticipated net loss for 2025, the company expects a significant narrowing of the loss compared to the previous year [1]

药品分类：白介素抑制剂 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 根据国家医保局、人力资源社会保障部《关于印发〈国家基本医疗保险、生育保险和工伤保险药品目 录〉以及〈商业健康保险创新药品目录〉(2025年)的通知》，重庆智翔金泰生物制药股份有限公司（以 下简称"公司"）自主研发的赛立奇单抗注射液（金立希）成功纳入《国家基本医疗保险、生育保险和工 伤保险药品目录》（以下简称"国家医保目录"）。新版国家医保目录将自2026年1月1日起正式实施。现 将相关信息公告如下： 一、产品纳入国家医保目录的情况 药品名称：赛立奇单抗注射液 商品名：金立希 注册类别：治疗用生物制品Ⅰ类 本次赛立奇单抗注射液被纳入国家医保目录，体现了国家医疗保障局对临床价值高、患者获益大的创新 药品的支持和认可，也将有利于进一步推动赛立奇单抗注射液的市场推广及未来销售，对公司长期经营 业绩产生积极影响。 新版国家医保目录将于2026年1月1日起正式执行，医保支付标准、医保报销细则等相关信息，需以国家 医保局等相关政府部门公示信息为准。此外，公司产品销售将受 ...

Core Viewpoint - The inclusion of the monoclonal antibody, Saliqi, in the National Medical Insurance Directory marks a significant milestone for Zhixiang Jintai, enhancing patient access to innovative domestic treatments and reducing out-of-pocket expenses for patients starting January 1, 2026 [1][2]. Group 1: Product Development and Approval - Saliqi is a recombinant fully human anti-IL-17A monoclonal antibody developed using a unique dual-carrier phage display technology platform, designed to inhibit inflammation by blocking the interaction between IL-17A and IL-17RA [1]. - Since its approval for market launch in August 2024, Saliqi has been authorized for the treatment of moderate to severe plaque psoriasis and ankylosing spondylitis, breaking the monopoly of foreign pharmaceutical companies in this treatment area [1]. Group 2: Clinical Research and Efficacy - In clinical trials, Saliqi demonstrated a 74.0% ASAS20 response rate at 16 weeks for patients receiving a 200mg dose for ankylosing spondylitis, significantly outperforming the placebo group [2]. - For moderate to severe plaque psoriasis, the drug showed a PASI75 response rate of 90.7% at 12 weeks and a PASI75 response rate of 96.5% at 52 weeks, with a relapse rate of only 0.4% [2]. Group 3: Market Impact and Accessibility - Saliqi has achieved market coverage across 30 provinces in China within its first year, benefiting over 10,000 patients, and its inclusion in the national insurance directory is expected to further enhance drug accessibility and affordability for patients [2]. - The company has committed to continuing its focus on patient needs and advancing the development of more internationally competitive innovative drugs, aiming to transition from "catching up" to "leading" in the domestic pharmaceutical market [3].

Corporate Announcements - China Pacific Insurance announced that Vice President Yu Ze is under investigation for serious violations of discipline and law, but this will not affect the company's management [2] - Guanglian Aviation reported that its controlling shareholder and chairman Wang Zengduo has had his detention lifted, allowing him to resume his duties, with normal operations continuing [3] - China Communications Construction Company clarified that it bears no repayment or guarantee obligations related to overdue financial products linked to its controlling shareholder, and its operations remain normal [4] - Annie Co. is planning a change in control, with stock trading resuming on December 8, 2025, after a share transfer agreement is signed [5] - Guoao Technology announced that its actual controller is planning a change in control, leading to a temporary suspension of its stock [6] - ST Tianrui terminated its planned change in control due to a lack of consensus, with stock resuming trading on December 8, 2025 [7] Industry Developments - Double Star New Materials noted that leading companies in the BOPET industry have reached a consensus on production cuts to balance supply and demand, although the sustainability of long-term price increases remains uncertain [8] - First Venture received a notice of administrative penalty for failing to diligently supervise a bond project, resulting in fines and warnings, but this will not significantly impact its operations [12] - China Chemical announced that its nylon new materials project has reached full production capacity, enhancing efficiency and market competitiveness [14] Pharmaceutical Sector Updates - Hengrui Medicine reported that nine of its drugs have been included in the national medical insurance directory, with a total expected sales of approximately 8.66 billion yuan for 2024 [15] - Junshi Biosciences announced that its products have received new indications and have been included in the national medical insurance directory, enhancing market accessibility [16] - Huadong Medicine's subsidiary has had its products included in the national medical insurance and commercial insurance innovation drug directories, aiding market promotion [17] - Aidi Pharmaceutical's two innovative HIV drugs have been renewed for inclusion in the national medical insurance directory, with specific pricing established [18] - ZhiXiang JinTai's monoclonal antibody has been included in the national medical insurance directory, which is expected to positively impact future sales [19] - Fosun Pharma announced multiple products have been newly included in the national medical insurance directory, which is anticipated to positively influence future performance [20] - Zejing Pharmaceutical's drug has been included in the national medical insurance directory, which will enhance affordability and market promotion [21] - Micron Biologics' product has been included in the national medical insurance directory, with no significant impact on current performance expected [22] Shareholder Commitments - Tianci Materials' controlling shareholder has committed not to reduce his shareholding in the company for six months, reflecting confidence in the company's future [23] Major Contracts - Guangqi Technology's subsidiary signed contracts worth 696 million yuan for the mass production of metamaterials, expected to impact the company's performance in 2026 [24]

人民财讯12月7日电，智翔金泰(688443)12月7日公告，公司自主研发的赛立奇单抗注射液（金立希）成 功纳入《国家基本医疗保险、生育保险和工伤保险药品目录（2025年）》。新版国家医保目录将自2026 年1月1日起正式实施。 （原标题：智翔金泰：赛立奇单抗注射液被纳入2025年国家医保目录） ...

Core Viewpoint - The company announced that its self-developed monoclonal antibody injection, Sairiqi (Jinlixi), has been successfully included in the National Basic Medical Insurance, Maternity Insurance, and Work Injury Insurance Drug List, effective from January 1, 2026, with an agreement valid until December 31, 2027 [1] Group 1 - The drug is classified as a Class I biological product and a Class B prescription drug, intended for the treatment of moderate to severe plaque psoriasis and ankylosing spondylitis [1] - The corresponding indications for the drug are expected to receive market approval in August 2024 and January 2025, respectively [1] - Inclusion in the medical insurance list may facilitate the market promotion and sales of the product, although sales are subject to various influencing factors, leading to uncertainty [1]

Core Viewpoint - The company Zhixiang Jintai (688443.SH) announced that its self-developed monoclonal antibody injection, Saliqi, has been successfully included in the National Medical Insurance Directory, effective from January 1, 2026 [1] Group 1: Product Information - Saliqi is a recombinant fully human anti-IL-17A monoclonal antibody classified as a Class I therapeutic biological product [1] - The product specifically binds to IL-17A protein in serum, blocking its interaction with IL-17RA, thereby inhibiting the occurrence and development of inflammation [1] - Saliqi is aimed at treating autoimmune diseases characterized by overexpression of IL-17A, such as plaque psoriasis and radiographic axial spondyloarthritis [1]

Core Viewpoint - The announcement by Zhixiang Jintai (688443.SH) regarding the inclusion of its self-developed drug, Saliqi monoclonal antibody injection (Jinlixi), in the National Basic Medical Insurance, Maternity Insurance, and Work Injury Insurance Drug List is a significant development that is expected to positively impact the company's long-term operational performance [1] Group 1: Drug Development and Market Impact - The drug is classified as a Class I biological product and is intended for adult patients with moderate to severe plaque psoriasis and adult patients with ankylosing spondylitis who have inadequate response to conventional treatments [1] - The new drug list will officially take effect on January 1, 2026, which is anticipated to facilitate market promotion and future sales of the drug [1] Group 2: Financial Implications - Inclusion in the medical insurance directory is expected to have a positive effect on the company's long-term operating performance [1] - However, the actual sales will be influenced by various factors, including the medical insurance payment standards and reimbursement details as per the information published by the National Healthcare Security Administration, indicating some level of uncertainty [1]