智通财经APP获悉，维亚生物(01873)再涨超5%，截至发稿，涨4.44%，报2.59港元，成交额2025.89万港 元。 国元国际此前指出，维亚生物自5年前已经布局AI制药，目前AI订单占比：AI相关订单占比达到新签订 单的12%，且呈增长趋势。华鑫证券则表示，维亚生物CRO业务主要服务于药物发现的早期，是AI应用 的重要场景，可提升药物研发的效率和成功率，因此公司为客户推出了整合了AI的药物研发平台—— AIDD，截止2025年上半年，AIDD已累计参与175个项目的开发，AI赋能的CRO业务占总收入的10%。 广发证券发布研报称，近期全球AI制药新增多单合同；大型制药公司越来越清晰地认识到AIDD的战略 价值；近期多起事件共同反映出，AI制药从概念期逐步进入实质落地与平台化应用阶段。该行预计， 明年年中AIDD行业加速发展的趋势将更加明显。 ...

Investment Rating - The report assigns a "Buy" rating for the company, marking it as the first recommendation [10]. Core Insights - The company is benefiting from a recovery in the industry and continuous empowerment from AI technologies [6][8]. - The CRO (Contract Research Organization) business has shown a revenue growth of 9.6% year-on-year in H1 2025, driven by a resurgence in global biopharmaceutical investments and active domestic innovation drug transactions [6]. - The company maintains a leading position in protein structure elucidation, with 8,023 new protein structures delivered in the first half of the year [6]. - The revenue from domestic clients increased by approximately 46.6%, indicating a strong domestic market growth potential [6]. - The report highlights the optimization of revenue structure at Langhua Pharmaceutical, with expectations for new orders to materialize in the coming years [7]. - The AI-enabled drug development platform, AIDD, has participated in 175 projects, contributing to 10% of total revenue [8]. - Revenue forecasts for 2025-2027 are projected at RMB 19.76 billion, RMB 22.14 billion, and RMB 25.08 billion respectively, with corresponding EPS of RMB 0.11, RMB 0.14, and RMB 0.17 [9][10]. Financial Projections - The report provides detailed financial projections, including a decline in revenue for 2024, followed by a recovery with growth rates of 12.03% in 2026 and 13.27% in 2027 [12]. - The net profit is expected to grow significantly, with a forecast of RMB 241 million in 2025, RMB 291 million in 2026, and RMB 352 million in 2027, reflecting a robust growth trajectory [12][18]. - The report anticipates an increase in ROE from 5.94% in 2025 to 7.44% in 2027, indicating improving profitability [18].