Group 1 - On January 12, 2023, a block trade of 60,700 shares of Baijun Medical was executed, with a transaction amount of 6.7972 million yuan, accounting for 12.8% of the total transaction volume for the day [1] - The transaction price was 111.98 yuan, which was in line with the market closing price of 111.98 yuan [1]

Group 1 - The core point of the news is that a block trade of 52,700 shares of Baorun Medical occurred on January 6, with a transaction amount of 5.7991 million yuan and a transaction price of 110.04 yuan per share [2][3] - The buyer of the block trade was Huaxin Securities Co., Ltd., Shanghai Jingdong Road Securities Business Department, while the seller was China Merchants Securities Co., Ltd., Shanghai Century Avenue Securities Business Department [2][3] - In the last three months, Baorun Medical has recorded a total of two block trades, with a cumulative transaction amount of 7.8028 million yuan [2] Group 2 - As of January 6, Baorun Medical's closing price was 110.04 yuan, reflecting a decrease of 0.29%, with a daily turnover rate of 0.29% and a total transaction amount of 43.3477 million yuan [2] - The net outflow of main funds for the day was 1.2444 million yuan, and over the past five days, the stock has seen a cumulative decline of 0.88% with a total net outflow of funds amounting to 29.4802 million yuan [2] - The latest margin financing balance for Baorun Medical is 291 million yuan, which has increased by 9.8867 million yuan over the past five days, representing a growth rate of 3.51% [3]

Group 1 - The core point of the news is that on January 6, 2023, a block trade of 52,700 shares of Baijun Medical was executed, amounting to 5.7991 million yuan, which accounted for 11.8% of the total trading volume for that day, with a transaction price of 110.04 yuan, remaining stable compared to the market closing price of 110.04 yuan [1][2] Group 2 - The transaction date was January 6, 2023, with the stock code 688198 for Baijun Medical [2] - The transaction price was 110.04 yuan, with a total transaction amount of 5.7991 million yuan and a trading volume of 52,700 shares [2] - The buying brokerage involved was 泰國王鑫蘇累露話, while the selling brokerage was 器具 3 [2]

Group 1 - The core transaction of Beijing Baoren Medical Technology Co., Ltd. on December 29 involved a block trade of 18,100 shares, amounting to 2.0037 million yuan, with a transaction price of 110.70 yuan per share [2][3] - The buyer of the block trade was Huaxin Securities Co., Ltd. Shanghai Jingdong Road Securities Branch, while the seller was China Merchants Securities Co., Ltd. Shanghai Century Avenue Securities Branch [2][3] - On the same day, Baoren Medical's closing price was 110.70 yuan, reflecting a decrease of 0.29%, with a daily turnover rate of 0.20% and a total trading volume of 31.1217 million yuan [2][3] Group 2 - The latest margin financing balance for Baoren Medical is 282 million yuan, which has increased by 12.0934 million yuan over the past five days, representing a growth rate of 4.48% [3] - Baoren Medical was established on July 11, 2005, with a registered capital of 1.37748133 billion yuan [3]

Investment Rating - The investment rating for the pharmaceutical industry is "Positive" (maintained) [4] Core Viewpoints - The report emphasizes the potential of the collagen market, particularly animal-derived collagen, and suggests focusing on BaiRen Medical as a key investment opportunity. The market for animal-derived collagen in functional skincare and medical dressings is projected to reach a combined scale of 24.3 billion by 2027 [5][13] - The report highlights the ongoing transformation in the Chinese pharmaceutical industry, with a shift from generic to innovative drugs, and the increasing importance of overseas markets and aging population consumption [5][37] Summary by Sections 1. BaiRen Medical's Animal-Derived Collagen Approval - BaiRen Medical has received approval for its animal-derived collagen implant, which is expected to significantly contribute to the collagen market. The product is designed to improve facial smoothness and has shown an improvement rate of 84.23% in clinical trials [15][17] - The domestic market for animal-derived collagen is expected to grow substantially, with projections of 13 billion for functional skincare and 11.3 billion for medical dressings by 2027 [13][17] 2. Industry Perspective - The pharmaceutical index has shown a decline of 1.04% from December 8 to December 12, with a year-to-date increase of 14.65%. The report notes that the innovative drug sector remains a key focus for investment, with several companies expected to perform well in the upcoming quarters [5][22] - The report identifies several companies to watch, including XinLiTai, SanSheng Pharmaceutical, and BaiRen Medical, among others, as they are positioned to benefit from the ongoing industry trends [5][41]

Group 1: Company Announcements - 蓝盾光电 announced the termination of the equity transfer agreement with Shanghai Xingsi Semiconductor, with no payment made for the equity transfer [1] - 兆新股份 plans to acquire 70% of Youde New Energy for a maximum price of 220 million yuan, enhancing its capabilities in the renewable energy operation sector [2] - 南都电源 is in the process of planning a change in control and has suspended its stock trading, with the suspension expected to last no more than two trading days [3] - 万科A reported a guarantee balance of 84.476 billion yuan as of October 31, with no overdue guarantee matters [4] - 国晟科技's stock price has increased significantly, with a cumulative rise of 206.62%, indicating potential irrational speculation and risks of a rapid price drop [5] - 中威电子 announced a change in its actual controller to Fu Yingbo, with stock trading set to resume [6] Group 2: Mergers and Acquisitions - 新兴铸管's subsidiary plans to acquire 100% of China Resources Steel for 1.244 billion yuan [7] Group 3: Share Transfers and Investments - 太龙药业's shareholder plans to transfer 50.1 million shares to Jiangyao Holdings [8] - 医药 approvals include 常山药业 receiving a drug registration certificate for heparin sodium injection in Turkmenistan [9] - 真兰仪表's shareholder intends to increase holdings by 10 to 20 million yuan [9] - 海南瑞泽's vice president plans to reduce holdings by 231,000 shares [9] - 金陵体育's director has reduced holdings by 0.0276% [9] - 佰仁医疗's subsidiary has received approval for a collagen implant product [9]

Group 1 - Pro Pharmaceutical has obtained a food production license for bat moth mycelium powder, categorized as a health food [1] - Zhongqi Co., Ltd. has had its application for issuing convertible bonds accepted by the Shenzhen Stock Exchange [2] - Baijun Medical's subsidiary has received approval for its collagen implant product, the first of its kind for facial dermal injections in China [3] Group 2 - Sinopharm Modern's subsidiary has received a drug registration certificate for Bumetanide injection, used for edema, hypertension, and preventing acute kidney failure [4] - Landun Optoelectronics has terminated the purchase of a stake in Star Si Semiconductor, with no payment made for the equity transfer [5] - Zhaoxin Co., Ltd. plans to acquire 70% of Youde New Energy for a maximum price of 220 million yuan, positioning it as a controlling subsidiary [6] Group 3 - Chongqing Rural Commercial Bank has had the qualifications of three non-executive directors approved, effective immediately [7] - Changshan Pharmaceutical has received a drug registration certificate for Heparin Sodium injection in Turkmenistan, used for anticoagulation [8] - Changshan Pharmaceutical's vice president has resigned for personal reasons but will continue to hold other positions within the company [9] Group 4 - Shaanxi Construction has won five major projects with a total bid amount exceeding 3.912 billion yuan, covering various sectors [10][11] - Huazhong Co., Ltd. reported a 1.6% month-on-month increase in pig sales revenue for November, with a total of 34.4 million yuan [12] - Yipin Hong's subsidiary has received a drug registration certificate for Levofloxacin oral solution, effective for treating various bacterial infections [13] Group 5 - Yabo Co., Ltd.'s subsidiary has won projects totaling 7.2933 million yuan, representing 2.13% of the company's audited revenue for 2024 [14] - Sunshine Nuohe plans to invest 20 million yuan in Biling Bio, acquiring a 2.0435% stake in the company focused on nanomedicine [15] - Jinzhi Technology has won projects totaling 76.172 million yuan, accounting for 4.3% of the company's projected revenue for 2024 [16]

Core Viewpoint - The approval of the collagen implant product by the National Medical Products Administration marks a significant advancement for the company, as it is the first collagen product in China designed for injection into the dermis of the cheeks to improve skin smoothness [1] Group 1: Product Details - The product is a natural cross-linked complete type I collagen fiber (Collagen Fibrils & Fibers) with a stable triple helix structure, which self-assembles into an ordered fibrous supramolecular structure [1] - The implantation of this product can supplement the collagen framework in the dermis of the cheeks, improving extracellular matrix metabolism and enhancing skin texture and elasticity [1] - The innovative technology includes a proprietary ultra-pure extraction process and precise peptide cleavage to ensure the amino acid sequence and composition are consistent with human type I collagen at the molecular level [1] Group 2: Clinical Validation - Clinical trials have confirmed that the product has no difference in immunogenicity compared to natural human collagen [1] - The full-length collagen molecule ensures the integrity of its triple helix structure, while high purity allows for self-assembly into collagen fibers, distinguishing this product from previous similar injectable collagen products [1]

Group 1 - The core product, a collagen implant (Collagen Fibrils & Fibers), has received approval from the National Medical Products Administration, marking it as the first collagen product in China for dermal injection to improve cheek smoothness [2] - The product features a stable triple helix structure and self-assembles into an ordered fibrous supramolecular structure, enhancing extracellular matrix metabolism and improving skin texture and elasticity [2] - The innovative technology includes a proprietary ultra-pure extraction process and precise peptide cleavage, ensuring the amino acid sequence aligns with human type I collagen, confirmed by clinical trials to have no immunogenicity differences from natural human collagen [2] Group 2 - The product's core technology is based on years of experience in the collagen field, laying the groundwork for future developments in collagen types II and III, as well as other medical applications [3] - The successful launch of this product represents a milestone for the company's innovative platform in animal-derived implant materials, showcasing the advantages of its platform-based operations [3]

本公司董事会及全体董事保证本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。 证券代码：688198 证券简称：佰仁医疗 公告编号：2025-037 北京佰仁医疗科技股份有限公司 关于自愿披露子公司胶原蛋白植入剂产品获批注册的公 告 司平台化运营的优势。 该胶原蛋白植入剂上市后实际销售情况受市场推广效果、市场竞争环境变化等 影响，具有不确定性，目前尚无法预测上述产品对公司未来营业收入的影响，敬请 投资者注意投资风险。 特此公告。 北京佰仁医疗科技股份有限公司董事会 2025年12月12日 近日，经国家药品监督管理局审评，北京佰仁医疗科技股份有限公司（以下简 称"公司"）的控股子公司北京艾佰瑞生物技术有限公司胶原蛋白植入剂产品（即胶 原纤维填充剂-I）注册申请获得批准，这是国内首款用于面颊部真皮层注射以改善 面颊部平滑度的胶原蛋白产品，现将有关情况公告如下： 该产品为天然交联的完整I型胶原蛋白纤维（Collagen Fibrils & Fibers），具有 稳定的三股螺旋结构，并在此基础上自发组装成有序的纤维状超分子结构，该产品 的植入可补充面颊部真皮层 ...