格隆汇9月15日丨海思科(002653.SZ)公布，近日收到国家药品监督管理局下发的1类创新药安瑞克芬注 射液（商品名称：思舒静，研发代号：HSK21542）《药品注册证书》，HSK21542是我司自主研发的高 选择性外周kappa阿片受体（κOpioidReceptor，KOR）激动剂。临床研究结果表明，HSK21542注射液能 显著缓解瘙痒，主要疗效指标和次要疗效指标均显著优于安慰剂组，且HSK21542注射液安全性良好可 控。该新获批适应症于2024年7月被纳入优先审评审批程序，现获批上市，有望为患者提供更好的止痒 选择。 ...

Group 1: Utility Industry - The report maintains an "Overweight" rating for the utility sector, particularly focusing on city gas companies transitioning from growth to dividend phases, with expected improvements in free cash flow and dividend payouts [2][24]. - The natural gas consumption volume is projected to grow significantly, with a 5-year CAGR of 12.4%, driven by urbanization and environmental policies [3][24]. - The report highlights the challenges faced by the city gas industry, including slowing gas consumption growth and rising costs, which have led to a decline in return on equity (ROE) and net profit growth [3][25]. Group 2: Kid's King Company - The report maintains an "Overweight" rating for Kid's King, projecting EPS growth of 76%, 65%, and 37% for 2024-2026, with a target price of 19.14 yuan [6][7]. - The establishment of a subsidiary, Smart Future, aims to provide AI-driven solutions for children and new families, enhancing the company's position in the mother and child retail sector [6][7]. - Kid's King is expanding its store network and enhancing its digital capabilities, which are expected to accelerate its AI product deployment and improve customer engagement [6][7]. Group 3: Market Performance - The report notes that the equity market has performed well, with a year-to-date return of 0.59% for risk parity strategies, indicating a positive outlook for equity investments [8][10]. - The report emphasizes the strong historical performance of H-share gas companies, which have benefited from early market entry and the establishment of exclusive operating rights [3][24]. - The report suggests that the overall market sentiment remains optimistic, with expectations for continued growth in the equity market driven by favorable economic conditions [8][10].