证券代码：688136 证券简称：科兴制药 公告编号：2026-004 科兴生物制药股份有限公司 重要内容提示： 担保对象及基本情况 | | | 被担保人名称 | 深圳科兴药业有限公司（以下简称"深圳科 兴"）、深圳科兴医药有限公司（以下简称"科 兴医药"）、青岛拓益科技有限公司（以下简 称"青岛拓益"）以及合并报表范围内的其 | | | | --- | --- | --- | --- | --- | --- | | | | | 他控股子公司（含现有、新设立或通过收购 | | | | 担 | 保 | | 等方式取得的控股子公司） | | | | 对象 | | 本次担保金额 | 最高额度不超过 万元 32,000 | | | | | | 实际为其提供的担保余额 | 万元 21,434.13 | | | | | | 是否在前期预计额度内 | ☑是 | □否 | □不适用： | | | | 本次担保是否有反担保 | □是 □不适用： | ☑否 | | 累计担保情况 | 对外担保逾期的累计金额（万元） | 0 | | --- | --- | | 截至本公告日上市公司及其控股 子公司对外担保总额（万元） | 21,43 ...

2025年第三次临时股东会决议公告 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 重要内容提示： 证券代码：688136 证券简称：科兴制药 公告编号：2026-007 科兴生物制药股份有限公司 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东会召开的时间：2025 年 12 月 31 日 （二） 股东会召开的地点：深圳市南山区高新中一道与科技中一路交汇处创益 科技大厦 B 栋 19 楼会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 99 | | --- | --- | | 普通股股东人数 | 99 | | 2、出席会议的股东所持有的表决权数量 | 106,716,177 | | 普通股股东所持有表决权数量 | 106,716,177 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比例（%） | 53.8815 | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 53.8815 ...

北京市嘉源律师事务所 关于科兴生物制药股份有限公司 2025 年第三次临时股东会的 法律意见书 西城区复兴门内大街 158 号远洋大厦 4 楼 中国·北京 E SR TELL STEFF A YUAN LAW OFFICES 北京 BEIJING · 上海 SHANGHAI · 深圳 SHENZHEN · 香港 HONG KONG · 广州 GUANGZHOU · 西安 XI'AN 致:科兴生物制药股份有限公司 北京市嘉源律师事务所 关于科兴生物制药股份有限公司 2025年第三次临时股东会的 法律意见书 嘉源(2025)-04-987 北京市嘉源律师事务所(以下简称"本所")接受科兴生物制药股份有限公 司(以下简称"公司")的委托,根据《中华人民共和国公司法》(以下简称"《公 司法》")、《上市公司股东会规则》(以下简称"《股东会规则》")等现行 有效的法律、行政法规、部门规章、规范性文件(以下简称"法律法规")以及 《科兴生物制药股份有限公司章程》(以下简称"《公司章程》")的有关规定, 指派本所律师对公司2025年第三次临时股东会(以下简称"本次股东会")进行 见证,并依法出具本法律意见书。 为出具本法律 ...

Core Insights - The report highlights the performance of stock recommendations from various brokerages, with 10 brokerages achieving over 50% returns in 2025, showcasing their ability to identify and recommend stocks early in the market cycle [2][3]. Group 1: Brokerage Performance - The highest cumulative return was achieved by Guoyuan Securities at 83.73%, followed by Northeast Securities and Kaiyuan Securities with returns of 67.47% and 67% respectively [2]. - Other brokerages such as Dongxing Securities, Huaxin Securities, and China Merchants Securities also reported returns exceeding 60%, while Everbright Securities, Dongguan Securities, Guotai Junan, and Changcheng Securities had returns above 50% [2]. Group 2: Stock Selection Strategy - The success of these brokerages is attributed to their strategy of identifying stocks at low points and consistently recommending them, which has led to significant gains [4][5]. - For instance, Kaiyuan Securities recommended Xinyisheng for four consecutive months, resulting in a total increase of 440% from May to August [6]. Group 3: Popular Stocks - Tencent Holdings emerged as the most recommended stock, being favored by around seven brokerages each month, making it the most popular stock of the year [7]. - The report indicates that the most popular stocks varied throughout the year, with technology stocks dominating in the first quarter, consumer stocks in the second, financial stocks in the third, and a return to technology stocks in the fourth quarter [7].

Core Insights - The article highlights the performance of brokerage firms' recommended stocks, known as "golden stocks," which have achieved over 50% returns in 2025, with some firms excelling by identifying and recommending stocks early in their upward trends [1][3]. Group 1: Performance of Golden Stocks - As of December 29, 2025, 10 brokerage firms' golden stock portfolios recorded returns exceeding 50%, with the highest being 83.73% from Guoyuan Securities [3]. - Other notable performers include Northeast Securities and Kaiyuan Securities, with returns of 67.47% and 67%, respectively [3]. - The golden stock strategy has become a mature business for many brokerage firms, showcasing their research capabilities and market insights [3]. Group 2: Strategies for Success - Early identification of stocks at low prices and consistent recommendations have been key strategies for achieving high returns [4]. - For instance, Kaiyuan Securities recommended Xinyisheng for four consecutive months, resulting in a total increase of 440% from May to August [5]. - Guoyuan Securities focused on sectors like media, pharmaceuticals, and machinery, with significant monthly gains from stocks like Giant Network and JiBit [4]. Group 3: Popularity of Tencent - Tencent Holdings emerged as the most recommended stock, being favored by around seven brokerage firms monthly, making it the top "golden stock" of the year [2][6]. - The popularity of stocks varies by quarter, with technology stocks dominating in the first quarter, consumer stocks in the second, financial stocks in the third, and a return to technology stocks in the fourth quarter [6]. Group 4: Market Trends and Recommendations - The article notes that not all popular stocks achieve high success rates, with less than 40% of the most recommended A-share stocks showing gains in the same month they were recommended [7].

Group 1: Core Insights - Kexing Pharmaceutical is entering the rapidly growing recombinant collagen market, with a clinical trial for its type III humanized collagen product officially launched [1][2] - The recombinant collagen market in China is projected to reach 108.3 billion yuan by 2027, with a compound annual growth rate of 44.93% [1][2] - Kexing Pharmaceutical's revenue has stagnated around 1.2 billion yuan for several years, making this strategic shift a necessary move for growth [1][6] Group 2: Industry Trends - The recombinant collagen is becoming a new favorite in the medical aesthetics sector, with its market share expected to grow significantly, while hyaluronic acid's market share is declining [2][4] - Currently, only Jinbo Biotech has received approval for two type III medical devices in this space, indicating a competitive landscape that is likely to change as more companies enter [2][4] Group 3: Company Challenges - Kexing Pharmaceutical faces challenges in cash flow, with net cash flow being negative from 2022 to mid-2025, and cash reserves decreasing from 784 million yuan to 446 million yuan [4][11] - The company is also under pressure from increasing competition, with several firms, including major beauty brands, entering the recombinant collagen market [4][11] Group 4: Historical Context - Kexing Pharmaceutical and Kexing Biology share a common origin, having been established from the same foundational institutions, but have diverged significantly in their paths over the past 30 years [7][8] - Kexing Biology has faced governance issues and financial struggles, while Kexing Pharmaceutical has been criticized for its stagnant revenue and reliance on legacy products [8][11]

证券代码：688136 证券简称：科兴制药 科兴生物制药股份有限公司 科兴生物制药股份有限公司 2025 年第三次临时股东会会议资料 2025 年第三次临时股东会 会议资料 $$=0{\exists}\exists\neq+{\exists}$$ | 2025 | 年第三次临时股东会会议须知 1 | | --- | --- | | 2025 2025 | 年第三次临时股东会会议议程 3 年第三次临时股东会会议议案 4 | | | 关于续聘 2025 年度审计机构的议案 5 | 科兴生物制药股份有限公司 2025 年第三次临时股东会会议资料 2025 年第三次临时股东会会议须知 七、股东应在大会主持人点名后有序进行发言。发言内容应围绕股东会的议 案阐述观点和建议，每位股东发言的时间原则上不超过五分钟。 八、大会主持人可指定有关人员有针对性地回答股东提出的问题，与本次会 科兴生物制药股份有限公司 2025 年第三次临时股东会会议资料 为了维护科兴生物制药股份有限公司（以下简称"公司"或"本公司"）股 东的合法权益，确保股东会的正常秩序、议事效率，根据有关法律法规及《科兴 生物制药股份有限公司章程》（以下简称"《公 ...

Group 1 - The company will hold its third extraordinary general meeting on December 31, 2025, to review two proposals [1] - The first proposal involves reallocating 109.15 million yuan of raised funds and 15.87 million yuan of income from the "Drug Production Base Expansion Project" to the "R&D Center Upgrade Project," increasing the total fundraising amount to 472.48 million yuan and extending the implementation period to December 31, 2028 [1] - The second proposal is to reappoint Crowe Horwath as the auditing firm for the 2025 fiscal year, with the audit fee remaining at 1.3 million yuan, consistent with 2024 [1]

Core Viewpoint - Kexing Pharmaceutical's subsidiary has made significant progress in the field of recombinant type III collagen, with its product entering clinical trials, indicating a strong potential in the aesthetic medicine market [1][4]. Group 1: Product Development and Clinical Trials - Kexing Medical's recombinant type III humanized collagen product has passed clinical trial registration and has begun enrolling participants for its first trial [1]. - The product aims to treat dynamic wrinkles on the forehead through a clinical study designed to evaluate its effectiveness and safety [1][2]. - The company has also submitted a registration application for its second-class medical device, a collagen dressing [1]. Group 2: Technological Advantages and Market Potential - The recombinant type III collagen is derived from advanced biotechnology, ensuring high biocompatibility and bioactivity, which mitigates the risk of immune rejection associated with traditional animal-derived collagen [2]. - This collagen type is crucial for youthful skin and addresses aging signs such as wrinkles, making it a focal point in aesthetic medicine [2]. - The market for recombinant type III collagen in aesthetic applications is expanding rapidly, with a projected retail market size for aesthetic injectables in China expected to grow from 309 billion yuan in 2019 to 670 billion yuan in 2023, reflecting a compound annual growth rate (CAGR) of 21.4% [3]. Group 3: Strategic Positioning and Future Outlook - Kexing Medical has previously launched products in the consumer sector, including collagen masks and serums, which have gained popularity in Southeast Asia [4]. - The entry into clinical trials for the recombinant collagen product marks a significant milestone in the company's R&D and commercialization efforts in the aesthetic field [4]. - The company plans to continue focusing on the aesthetic medicine sector, emphasizing technological innovation and the development of high-quality products to meet market demands [5].

证券日报网讯 12月15日晚间，科兴制药发布公告称，公司将于2025年12月31日召开2025年第三次临时 股东会。 ...