Investment Rating - The report indicates a positive outlook for the pharmaceutical and biotechnology sector, with a weekly increase of 1.4%, outperforming the Wind All A index (-1.37%) and the CSI 300 index (-0.81%) [3][8]. Core Insights - The report highlights the acceleration of business development (BD) in small nucleic acid drugs, with significant deals announced by Arrowhead Pharmaceuticals and Novartis, indicating a strong interest in this area from multinational corporations [3][12]. - The report emphasizes the importance of the World Conference on Lung Cancer (WCLC) held from September 6-9, where several key research advancements in lung cancer were presented, suggesting potential investment opportunities in innovative drug companies participating in the conference [3][11]. - The report notes the strong performance of specific stocks within the sector, such as Haichen Pharmaceutical (28.7%), Changchun High-tech (24.2%), and Baihua Pharmaceutical (21.3%), while also identifying underperformers like Shuyou Shen (24%) and Guangsheng Tang (15.8%) [3][11]. Market Weekly Review - The pharmaceutical and biotechnology sector saw a weekly increase of 1.4%, with the best-performing sub-sectors being other biological products (4.86%), chemical products (4.52%), and medical research outsourcing (3.78%) [3][8]. - Conversely, sectors such as hospitals (-2.31%), vaccines (-2.08%), and medical devices (-1.97%) experienced declines [3][8]. - Notable individual stock performances included significant gains for Haichen Pharmaceutical, Changchun High-tech, and Baihua Pharmaceutical, while Shuyou Shen and Guangsheng Tang faced substantial losses [3][11]. Industry News and Key Company Announcements - Arrowhead Pharmaceuticals announced a global licensing and collaboration agreement with Novartis for a siRNA therapy targeting Parkinson's disease, with an upfront payment of $200 million and potential milestone payments totaling up to $2 billion [3][15]. - A strategic collaboration was established between Novartis and Wobang Pharmaceuticals for cardiovascular products, with an upfront payment of $160 million and potential total milestone payments of $5.2 billion [3][13]. - The report also mentions various clinical trial advancements and approvals for several companies, including the approval of new indications for existing drugs and the initiation of new clinical trials [3][16].

晨会纪要（R3） 晨会纪要 2025 年 09 月 05 日 | 市场数据 | | | | --- | --- | --- | | 指数名称 | 收盘 | 涨跌% | | 上证指数 | 3765.88 | -1.25 | | 深证成指 | 12118.70 | -2.83 | | 创业板指 | 2776.25 | -4.25 | | 科创 50 | 1226.98 | -6.08 | | 北证 50 | 1538.98 | -0.80 | | 沪深 300 | 4365.21 | -2.12 | 上证指数-沪深 300 走势图 -3% 17% 37% 57% 2024-09 2024-12 2025-03 2025-06 上证指数 沪深300 | 袁闯 | 分析师 | | --- | --- | | 执业证书编号:S0530520010002 | | | yuanchuang@hnchasing.com | | | 周舒鹏 | 研究助理 | zhoushupeng@hnchasing.com 晨会聚焦 一、财信研究观点 【债券研究】债券市场综述 二、重要财经资讯 【宏观经济】央行：9 月 5 日将开展 100 ...

Group 1: Legislative Developments - Shenzhen has passed the "Regulations on Promoting the Innovative Development of the Synthetic Biology Industry" aimed at addressing challenges in the synthetic biology sector, effective from October 1 [1] Group 2: Healthcare Financing - Quanzhou has initiated a monthly settlement model for medical insurance funds based on Disease Related Groups (DRG), aimed at alleviating financial pressure on medical institutions and enhancing their development [2] Group 3: Drug Approvals - Haisco has received approval for clinical trials of its innovative drug HSK47388 for treating autoimmune diseases, marking a new indication for the drug [3] - Sanofi's drug Trelagliptin has been approved for use in delaying the progression of Type 1 diabetes in patients aged 8 and above [4] Group 4: Capital Market Activities - WuXi AppTec plans to raise over HKD 1.31 billion through a share placement at HKD 58.85 per share, with a maximum of 22,277,000 shares to be placed [5] - Qiyuan Bio has completed nearly RMB 200 million in Series B financing to accelerate pipeline development and commercialization [6] Group 5: Executive Appointments - Haisen Bio has appointed Leo Liu as the new CEO to oversee the company's strategic planning and operational management [7]

Group 1 - The Ministry of Finance and the People's Bank of China held a second meeting to enhance coordination between fiscal and monetary policies [2][4] - The China Securities Index Co., Ltd. will officially launch the CSI A500 Growth Index and CSI A500 Value Index on September 10, 2025, with each index comprising 100 sample stocks [2][4] - The Shanghai Stock Exchange hosted a salon themed "Brain-Computer Interface: Exploring the Digital Intelligence Era," with participation from multiple listed companies and financial institutions [10] Group 2 - The International Data Corporation (IDC) reported that the global smart home cleaning robot market shipped 15.352 million units in the first half of the year, a year-on-year increase of 33%, indicating strong market demand [6] - The shipment of lawn mowers reached 2.343 million units, up 327.2% year-on-year, while window cleaning robots saw shipments of 809,000 units, a 52.1% increase [6] - IDC forecasts that the global smart home cleaning robot market will ship 32.1 million units by 2025, representing a year-on-year growth of 28.2% [6] Group 3 - The Zhejiang Provincial Development and Reform Commission is seeking public opinion on the implementation plan for market-oriented pricing of renewable energy, with a fixed price of 0.4153 yuan per kilowatt-hour for existing projects [8][9] - The plan aims to ensure that all renewable energy projects enter the electricity market, emphasizing the importance of forecasting and optimization capabilities for market participants [9] Group 4 - Shanghai Stock Exchange's salon on brain-computer interfaces highlighted the technology's potential market space exceeding $100 billion, with applications in healthcare, education, and smart driving [10] - Companies like Xiangyu Medical and Yuke Technology are actively developing brain-computer interface products, with Xiangyu establishing a brain science laboratory for research collaboration [10] Group 5 - Iron Flow Co. announced a framework agreement with the Yangtze River Delta Hart Robot Industry Technology Research Institute to collaborate on key components and design for robots [12] - Hason Co. plans to establish a joint venture for robot parts procurement and sales, with a registered capital of 100 million yuan [12] Group 6 - Haikou Science and Technology Co. received approval for clinical trials of its self-developed drug HSK47388 for autoimmune diseases, providing new treatment options [13] - Robotech's subsidiary signed a significant contract worth approximately 78.67 million yuan for an automated silicon photonic packaging line, expected to have a positive impact on the company [14] Group 7 - Gansu Energy plans to invest 4.089 billion yuan in a 1 million kilowatt wind-solar integrated project, with 20% of the funding sourced from equity [15] Group 8 - Three institutional seats purchased a total of 72.55 million yuan in Airo Energy, indicating a recovery in the company's distributed energy storage business [17] - Recent data shows that hundreds of billions of yuan have flowed into sector-specific ETFs, with significant net subscriptions for various industry theme ETFs [19] Group 9 - Huqin Technology reported a 113% year-on-year increase in revenue for the first half of 2025, with data services becoming a core supplier for major CSPs [21] - Longi Green Energy capitalized on domestic market opportunities, with a steady increase in the shipment of its high-efficiency HPBC2.0 components [21]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002653 证券简称：海思科 公告编号：2025-097 海思科医药集团股份有限公司关于获得创新药HSK47388片新适应症《药物临床试验批准通知书》的公 告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 海思科医药集团股份有限公司（以下简称"公司"）于近日收到国家药品监督管理局下发的《药物临床试 验批准通知书》，相关情况如下： ■ 一、研发项目简介 HSK47388片是公司自主研发的口服、强效、高选择性的药物，拟用于自身免疫疾病的治疗。临床前研 究结果显示，HSK47388在大鼠肠炎模型中剂量依赖地呈现出显著的药效，同时也表现出了良好的耐受 性和较大的安全窗，是一款极具开发潜力的药物，本次申请为HSK47388片在自身免疫疾病领域中又一 新适应症的临床试验申请，有望为自身免疫疾病患者提供一种新的治疗选择。 二、风险提示 创新药研发周期长、环节多、风险高，容易受到一些不确定性因素的影响，敬请广大投资者谨慎决策， 注意防范投资风险。公司将根据该项目的后续进展及时履行信息披露义务。 特此公告。 海思科 ...

Key Points - Tianpu Co., Ltd. announced a suspension of trading for stock verification due to multiple instances of abnormal trading fluctuations from August 22 to September 3, with a reminder for investors about market risks [1] - China Shipbuilding Industry Corporation announced a share exchange ratio of 1:0.1339 for the merger with China Shipbuilding, with the stock ceasing to be listed from September 5, 2025 [2] - Chengdu Huamei reported that its 40G high-precision RF ADC chip is still in the trial production stage and has not achieved mass sales, indicating market demand uncertainty [2] - Taihe Technology's sulfide solid electrolyte project is currently in the trial production phase and has not generated sales revenue [3] - Robotech signed a contract worth approximately €946.50 million for fully automated silicon photonic packaging equipment, expected to positively impact the company's future performance [4] - Wento Holdings reported that its cinema and gaming businesses are still in the recovery phase post-restructuring, with potential uncertainties in future operations [5] - Xibu Muye's fresh milk production increased by 4.8% month-on-month in August [6] - China Shipbuilding announced the implementation of a share exchange merger with China Heavy Industry [6] - Gansu Energy plans to invest CNY 40.89 billion in a wind-solar integrated project [6] - Xinhua Medical's endoscope cleaning workstation received a Class II medical device registration certificate [6]

Group 1 - Shengtun Mining plans to repurchase shares worth between 500 million and 600 million yuan, with a maximum repurchase price of 11.82 yuan per share, aimed at employee stock ownership plans or equity incentives [1] - Kangnbei received a drug registration certificate for Linggui Shugan Granules, which is derived from traditional Chinese medicine and is used for treating phlegm and dampness due to Yang deficiency [2] - Zhangjiang Hi-Tech intends to publicly transfer 100% equity and related debts of Shanghai Jixin Rui Construction Technology Co., Ltd. with a total price not less than 151 million yuan [3] Group 2 - Shankai Intelligent won a bid for a metering device procurement project worth 13.318 million yuan from Hohhot Water Supply Company [4] - Hason Co. plans to jointly establish a supply chain company with a registered capital of 10 million yuan, in which Hason will hold a 10% stake [5] - Pudong Construction's subsidiaries won multiple major projects with a total amount of 1.271 billion yuan [6] Group 3 - Jinling Pharmaceutical received approval for the Phase III clinical trial of Olaratogrel tablets, which are used for treating moderate to severe pain associated with endometriosis [8] - Menohua's subsidiary obtained a drug registration certificate for Mosapride Citrate Tablets, aimed at improving gastrointestinal symptoms [10] - Shapuaisi's major shareholder plans to reduce holdings by up to 2% of the company's shares due to personal financial needs [11] Group 4 - Changyuan Power reported an August electricity generation of 3.771 billion kWh, a year-on-year decrease of 6.03% [15][16] - Xibu Livestock's August fresh milk production increased by 4.8% month-on-month but decreased by 7.27% year-on-year [19] - Yong'an Pharmaceutical's actual controller and chairman had their detention lifted, allowing them to resume normal duties [20] Group 5 - Jinkai Intelligent's director resigned due to work adjustments [22] - Xinhua Medical received a Class II medical device registration for an endoscope cleaning workstation [23] - Haishi Science and Technology's innovative drug HSK47388 received approval for a new indication clinical trial [25] Group 6 - Baotai Co. plans to participate in a land use rights auction in Baoji City with a starting price of 57.34 million yuan [26] - Minfeng Special Paper received a government subsidy totaling 11.2 million yuan [27] - Jiuchang Bio obtained a medical device registration for a heparin-binding protein assay kit [29] Group 7 - Jingao Technology plans to repurchase shares worth between 200 million and 400 million yuan, with a maximum price of 17.36 yuan per share [31] - Youxunda won a bid for a metering equipment project from China Southern Power Grid worth approximately 161 million yuan [32] - Qianli Technology reported an August vehicle sales increase of 168.55% year-on-year [32] Group 8 - Guangzhou Port expects an August container throughput increase of 1.2% year-on-year [32] - Kexing Pharmaceutical's GB08 injection completed the first subject enrollment for Phase II clinical trials [33] - Wu Ming Pharmaceutical plans to transfer 98.9% of its subsidiary's shares to a newly established wholly-owned subsidiary [34] Group 9 - Shanghai Electric's acquisition of K-Electric Limited shares has not yet completed the transfer [35] - Fulai New Materials plans to raise no more than 710 million yuan through a private placement [36] - Huaren Health's drug registration application for a new type of potassium ion competitive acid blocker has been accepted [37]

HSK47388片是公司自主研发的口服、强效、高选择性的药物，拟用于自身免疫疾病的治疗。临床前研 究结果显示，HSK47388在大鼠肠炎模型中剂量依赖地呈现出显著的药效，同时也表现出了良好的耐受 性和较大的安全窗，是一款极具开发潜力的药物，本次申请为HSK47388片在自身免疫疾病领域中又一 新适应症的临床试验申请，有望为自身免疫疾病患者提供一种新的治疗选择。 格隆汇9月3日丨海思科(002653.SZ)公布，公司于近日收到国家药品监督管理局下发的HSK47388的《药 物临床试验批准通知书》。 ...

Group 1 - Company has received the "Drug Clinical Trial Approval Notice" from the National Medical Products Administration for the innovative drug HSK47388, which is intended for the treatment of autoimmune diseases [1] - HSK47388 is an orally administered, potent, and highly selective drug that has shown significant efficacy in preclinical studies, particularly in rat models of enteritis, demonstrating dose-dependent effects and good tolerability [1] - The application for HSK47388 represents a new clinical trial for an additional indication in the field of autoimmune diseases, potentially providing a new treatment option for patients [1] Group 2 - The clinical trial application for HSK47388 was accepted in June 2025, indicating compliance with the relevant drug registration requirements [1] - The drug is classified as a tablet form and is aimed at treating autoimmune diseases, with the registration number CXHL2500600 for domestic production [1]

Core Viewpoint - The company received approval from the National Medical Products Administration for clinical trials of HSK47388 tablets, which are intended for the treatment of autoimmune diseases [1] Group 1 - The clinical trial approval was granted for HSK47388 tablets, which are a self-developed oral medication with high selectivity and potency [1] - The application represents a new indication for HSK47388 in the field of autoimmune diseases, potentially providing a new treatment option for patients [1] - The approval was based on the compliance of HSK47388 with drug registration requirements as of June 2025 [1]