值得一提的是，6月27日公司公告，全资子公司北大未名(上海)生物制药有限公司向四川固康药业有限 责任公司(下称"固康药业")增资4500万元，取得固康药业51%股权，已完成相关工商变更登记与备案手 续。由此推断，固康药业作为未名医药的控股子公司预计自2025年半年报起将被纳入合并报表范围，为 上市公司贡献收入及利润。 据了解，神经生长因子是未名医药长期深耕的药品领域，公司旗下核心产品之一的注射用鼠神经生长因 子(商品名："恩经复")在2024年为公司贡献了约1.39亿元营业收入。而山东衍渡在研的眼科新药，正是 神经生长因子系列的第二代产品——重组人神经生长因子，可用于眼科相关适应症，有修复眼表神经的 潜在作用，具有较高的临床价值。据悉，该产品研发若顺利开展，将有望成为国内首款重组人神经生长 因子滴眼液。 据固康药业官方网站，固康药业成立于2012年，是一家集中药材采购加工、中药饮片研发、生产、销售 的现代化中药行业供应链综合服务企业，研发、生产并提供超过400个高质量中药产品。公告显示， 2024年固康药业营业收入7392.75万元，实现净利润415.01万元，2025年业绩表现预计将有进一步的提 升，今年1 ...

今日，创新药行业迎来重磅利好！国家医保局、国家卫生健康委正式联合印发《支持创新药高质量发展 的若干措施》，从五大方面提出十六条具体举措，全面支持我国创新药产业发展。该政策旨在加速医药 健康产业创新，推动创新药高质量发展，更好满足人民群众多元化就医用药需求。作为医药产业链上游 的重要环节，创新药政策的出台将为整个医药产业带来新一轮增长动力，资本市场反应强烈，多只创新 药概念股今日表现活跃，掀起新一轮投资热潮。 近期，医药创新领域政策利好不断。今年1月，国家医保局曾召开支持创新药发展企业座谈会，明确表 示将着力完善"1+3+N"多层次保障体系，拓宽创新药支付渠道，探索建立丙类药品目录，引导惠民型商 业健康保险将创新药纳入保障责任。4月，北京市已率先出台《北京市支持创新医药高质量发展若干措 施（2025年）》，提出按照"提前介入、一品一策、全程指导、研审联动"原则，实施重点项目制管理， 促进医药健康产业创新发展。此次国家层面正式出台的《支持创新药高质量发展的若干措施》，将进一 步加速我国创新药发展步伐，引领医药产业高质量发展。 在支持创新药进入医保目录方面，新政策提出健全基本医保药品目录动态调整机制，在坚持"保基本 ...

Core Viewpoint - Shuyou Shen (300204) has been dubbed the "king of A-share gains" in innovative drugs, with a nearly 500% increase in stock price over two months, driven by the progress of three innovative drugs, including the acceptance of the listing application for STSP-0601 by the National Medical Products Administration [1][4][10] Stock Performance - On June 17, Shuyou Shen's stock price opened at 39.1 yuan per share, peaked at 43.15 yuan, and ultimately closed at 35.75 yuan, down 8.33% for the day, with a trading volume of 2.27 billion yuan and a turnover rate of 12.27% [3][4] - The stock has seen a cumulative increase of 470.18% from April 8 to June 17, making it the top performer in the A-share innovative drug sector [4][10] Institutional Involvement - Recent trading data indicates that institutional investors and speculative funds have been the primary drivers behind the stock's price surge, with institutions net buying approximately 211 million yuan from May 27 to June 9 [4][10] New Drug Developments - Shuyou Shen is focused on developing therapeutic drugs for unmet clinical needs, with a particular emphasis on protein drugs and chemical drugs targeting infectious diseases, respiratory and critical illnesses, autoimmune diseases, and neurological disorders [6][10] - The most notable drug in development is STSP-0601, which has received a registration application acceptance notice from the National Medical Products Administration, aimed at treating bleeding in adult patients with hemophilia A or B [6][7][8] Financial Performance - The company has reported net losses for five consecutive years, with revenues declining from 4.25 billion yuan in 2020 to 3.25 billion yuan in 2024, and corresponding net losses increasing from -1.33 billion yuan to -1.45 billion yuan [10][11] - In Q1 of this year, the company reported revenues of approximately 63.21 million yuan, a year-on-year decrease of 33.45%, while the net loss was reduced to -2.335 million yuan [10][11] Market Outlook - Analysts suggest that the future direction for innovative drug companies should focus on diversification and innovation, emphasizing the importance of R&D investment and market strategy adjustments [12] - Shuyou Shen has indicated plans to utilize various financing methods to alleviate short-term pressures while continuing its commitment to innovative drug development [12]

证券代码：300683 证券简称：海特生物 尊敬的投资者，您好！已有相关临床前研究表明，注射用埃 普奈明可能通过影响免疫微环境的方式，对接受 CAR-T 细胞回输 的患者体内的 CAR-T 细胞扩增产生积极影响，且由于注射用埃普 奈明起效迅速、安全性良好等特点，正在越来越多的进入到国内 主流的血液病医院的 CAR-T 治疗过程中，而包括中国医学科学院 血液病医院、西部战区总医院在内的国内一线血液病医院也在积 极与我司合作开展埃普奈明用于CAR-T前桥接化疗及CAR-T后的 维持治疗等方向的临床试验研究。谢谢 4、研发管线最新的收获进展情况是怎样的？ 尊敬的投资者，您好！公司的在研产品及进展已在定期报告 中披露，请关注公司的定期报告。谢谢。 5、请问埃普奈明新产线布局在哪里？已经立项和开建了 吗？ 尊敬的投资者，您好！埃普奈明新产线布局在武汉海特生物 制药股份有限公司园区内，新扩建的产线正在建设过程中。谢谢。 6、杨总，北京沙东的剩下的股权有没有考虑收购，是不是 埃普奈明销售不及预期，可能不考虑剩下的股权收购了。 尊敬的投资者，您好！埃普奈明销售顺利，符合公司预期， 公司会按照股权收购协议的约定履行相应的义务， ...

Core Viewpoint - Shuyou Shen's subsidiary, Beijitai, has received priority review status from the National Medical Products Administration (NMPA) for its product STSP-0601, which is intended for the treatment of bleeding in adult patients with hemophilia A or B with inhibitors, marking a significant advancement in the drug's approval process [2][3]. Company Developments - Shuyou Shen's stock price surged nearly 190% over a 10-day period, reaching a peak of 34.49 yuan per share, the highest since 2016, following the announcement of the priority review [4]. - The company has 13 major R&D projects in clinical research stages, focusing on unmet therapeutic needs, including monoclonal antibodies and protein drugs [4]. - The capitalized R&D expenditure for STSP-0601 (with inhibitors) is reported at 85.16 million yuan, while for STSP-0601 (without inhibitors) it stands at 10.89 million yuan [3]. Industry Context - The NMPA has also granted priority review status to other companies, including He Yu and Ke Ji Pharmaceuticals, indicating a broader trend in the industry towards expedited drug approvals [5][6]. - He Yu's drug ABSK021 has received multiple recognitions, including breakthrough therapy designation from the NMPA and FDA, and has seen a significant revenue increase due to licensing agreements [6][7]. - Ke Ji's product, a CAR-T cell therapy candidate, has also been recognized by the NMPA and FDA, highlighting the growing focus on innovative cancer treatments within the industry [7].

Core Viewpoint - The innovative drug sector has become a focal point in the A-share market, with Shuyou Shen (300204.SZ) emerging as a standout performer, experiencing significant stock price increases despite ongoing operational challenges [1][5]. Stock Performance - On June 4, Shuyou Shen opened high but closed at 30.79 CNY per share, down 3.18% from the previous day. The stock price surged from 11.04 CNY to 31.80 CNY between May 20 and June 3, marking a 188.04% increase over 10 trading days. From a low of 5.90 CNY on April 9, the stock has risen by 438.98% [2][11]. - The company's market capitalization increased by approximately 12.4 billion CNY due to the stock price surge [15]. - Institutional investors played a significant role in the stock's rise, with substantial buying activity noted on multiple trading days [13][14]. Financial Performance - Despite the stock price increase, Shuyou Shen's operational performance remains under pressure, with a 33.45% year-on-year decline in revenue for Q1. The net profit attributable to shareholders was -2.34 million CNY, although this represented a 38.05% reduction in losses compared to the previous year [2][19]. - The company has reported cumulative losses exceeding 1 billion CNY over five consecutive years from 2020 to 2024 [3][19]. - In 2024, the company’s revenue from its main products, Shutaqing and Sutai Sheng, declined, with sales of Shutaqing at 1.79 billion CNY (down 8.20%) and Sutai Sheng at 1.34 billion CNY (down 17.30%) [19]. Research and Development - Shuyou Shen's R&D investment dropped significantly to 162 million CNY in 2024, a decrease of 63.84% year-on-year [4][20]. - The company has reduced its R&D personnel by 14.75%, with R&D staff now comprising 21.14% of the total workforce [20]. - Despite the decline in R&D spending, the company has multiple I-class innovative biological drugs in clinical trials and is focused on advancing projects in areas such as neurological diseases and infectious diseases [20].

5月20日，港股创新药企业三生制药（1530.HK）宣布与辉瑞达成合作协议，授权其自主研发的PD-1/VEGF双特异性抗体SSGJ-707的海外商业化权益，首付 款达12.5亿美元，创国产创新药出海首付款记录。 这一事件直接带动了A股创新药板块的上涨。其中，舒泰神（300204.SZ）股价表现尤为亮眼，其在5月18日至5月23日期间股价累计涨幅达49.2%，区间振幅 61.3%，近5日成交额31.8亿元，换手率47.6%，并且连续多日登上龙虎榜。 在众多创新药企业中，为何市场资金偏爱舒泰神？公司撑得起目前的市值吗？ 多重原因催化股价拉升 上述几个利好均成为舒泰神近期股价井喷的重要依据。不过，预期层面的利好并未直接体现在当下业绩中。 0 核心产品收入持续收缩 舒泰神业绩表现并不尽如人意。公司2024年营业收入为3.25亿元，同比下降10.81%；归母净利润为-1.45亿元，同比增长 63.69%。具体到核心产品业务条线 看，头牌产品舒泰清（复方聚乙二醇电解质散）收入1.79亿元，同比下降8.20%，占全年营收的55.1%。该产品作为肠道清洁剂，面临同类竞品（如福静清） 价格竞争加剧和政策调整压力（如医保控费）， ...

未名医药已连续三年亏损 作为未名医药控股子公司，天津未名主要从事人干扰素药品的生产与销售。对整个未名医药来说，天津 未名分量不轻，天津未名2024年实现营收2.17亿元，占未名医药同期营收的60.09%，天津未名2024年亏 损1400.37万元，正如未名医药在公告中披露，"天津未名为公司重要子公司，本次暂停生产、销售事项 对公司生产经营产生重要影响。" 这已经不是天津未名首次出现药品质量问题。今年3月，江西省联采办发布公告，药监部门对天津未名 生产的α2b喷雾剂进行抽检，检验结果为"生物学活性不符合规定"。按照《干扰素省际联盟集中带量采 购文件（文件编号：JX-YP2023-01）》等相关要求，各地（市）医疗保障局应通知辖区内医疗机构暂 停采购天津未名生产的人干扰素α2b喷雾剂，中选企业封存召回，恢复采购时间另行通知。西藏、内蒙 古随后暂停了天津未名人干扰素α2b喷雾剂的交易资格。 未名医药在2024年年报中也披露，上海市药品监督管理局对天津未名生产的1批"人干扰素α2b喷雾剂"进 行抽检，检验结果为"生物学活性不符合规定"。天津未名针对该批次检验结果向原药品承检单位申请复 验，复验结果尚未出具。未名医药决 ...

Core Viewpoint - Unimed Pharmaceutical's subsidiary, Tianjin Unimed, has been suspended from production and sales due to regulatory measures, significantly impacting the company's operations and revenue potential [2][3]. Group 1: Company Operations - Tianjin Unimed, primarily engaged in the production and sales of interferon drugs, generated revenue of 217 million yuan in 2024, accounting for 60.09% of Unimed Pharmaceutical's total revenue [2]. - The company's interferon business achieved revenue of 303 million yuan in 2023, representing 70.47% of total revenue, an increase from approximately 229 million yuan in 2022, which was 64.27% of total revenue [3]. - The main products contributing to Unimed's revenue are nerve growth factor and interferon products, which together account for over 90% of total revenue, with both categories having a gross margin close to 80% [2]. Group 2: Regulatory Issues - The suspension of Tianjin Unimed's production and sales is due to the interferon α2b spray being found non-compliant with biological activity standards, leading to procurement suspensions in multiple regions [2]. - The company must complete rectification and inspection to resume production, and products must meet national standards before being sold again [3]. - If the suspension lasts longer than three months, it may trigger additional risk warnings for the company [2].

证券代码： 300683 证券简称：海特生物 武汉海特生物制药股份有限公司投资者关系活动记录表 编号：2025-001 | 投资者 | □特定对象调研 □分析师会议 | | --- | --- | | 关系活 动类别 | □媒体采访 √业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 （请文字说明其他活动内容） | | 参与单 | | | 位名称 | 通过全景网"投资者关系互动平台"（https://ir.p5w.net ）参与 | | 及人员 | 公司 2024 年度网上业绩说明会的投资者 | | 姓名 | | | 时间 | 年 月 日 (周四) 下午 2025 4 24 15:00~17:00 | | 地点 | 公司通过全景网"投资者关系互动平台"（https://ir.p5w.net）采 | | | 用网络远程的方式召开业绩说明会 | | 上市公 | | | 司接待 | 董事长兼总经理陈亚先生、董事会秘书杨坤先生、财务总监兼董事 | | 人员姓 | 羡雯女士、保荐代表人孙素淑女士、独立董事冉明东先生 | | 名 | | | | 公司于 2025 年 4 月 2 ...